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Transcript of Bitcoin ABC’s Amaury Sechet presenting at the Bitcoin Cash City conference on September 5th, 2019

Transcript of Bitcoin ABC’s Amaury Sechet presenting at the Bitcoin Cash City conference on September 5th, 2019
I tried my best to be as accurate as possible, but if there are any errors, please let me know so I can fix. I believe this talk is important for all Bitcoin Cash supporters, and I wanted to provide it in written form so people can read it as well as watch the video: https://www.youtube.com/watch?v=uOv0nmOe1_o For me, this was the first time I felt like I understood the issues Amaury's been trying to communicate, and I hope that reading this presentation might help others understand as well.
Bitcoin Cash’s Culture
“Okay. Hello? Can you hear me? The microphone is good, yeah?
Ok, so after that introduction, I’m going to do the only thing that I can do now, which is disappoint you, because well, that was quite something.
So usually I make technical talks and this time it’s going to be a bit different. I’m going to talk about culture in the Bitcoin Cash ecosystem. So first let’s talk about culture, like what is it? It’s ‘the social behaviors and norms found in human society.’
So we as the Bitcoin Cash community, we are a human society, or at least we look like it. You’re all humans as far as I know, and we have social behaviors and norms, and those social behaviors and norms have a huge impact on the project.
And the reason why I want to focus on that point very specifically is because we have better fundamentals and we have a better product and we are more useful than most other cryptos out there. And I think that’s a true statement, and I think this is a testimony of the success of BCH. But also, we are only just 3% of BTC’s value. So clearly there is something that we are not doing right, and clearly it’s not fundamental, it’s not product, it’s not usefulness. It’s something else, and I think this can be found somewhat in our culture.
So I have this quote here, from Naval Ravikant. I don’t know if you guys know him but he’s a fairly well known speaker and thinker, and he said, “Never trust anyone who does not annoy you from time to time, because it means that they are only telling you what you want to hear.”
And so today I am going to annoy you a bit, in addition to disappointing you, so yeah, it’s going to be very bad, but I feel like we kind of need to do it.
So there are two points, mainly, that I think our culture is not doing the right thing. And those are gonna be infrastructure and game theory. And so I’m going to talk a little bit about infrastructure and game theory.
Right, so, I think there are a few misconceptions by people that are not used to working in software infrastructure in general, but basically, it works like any other kind of infrastructure. So basically all kinds of infrastructure decay, and we are under the assumption that technology always gets better and better and better and never decays. But in terms of that, it actually decays all the time, and we have just a bunch of engineers working at many many companies that keep working at making it better and fighting that decay.
I’m going to take a few examples, alright. Right now if you want to buy a cathode ray tube television or monitor for your computer (I’m not sure why you want to do that because we have better stuff now), but if you want to buy that, it’s actually very difficult now. There are very little manufacturers that even know how to build them. We almost forgot as a human society how to build those stuff. Because, well, there was not as high of a demand for them as there was before, and therefore nobody really worked on maintaining the knowledge or the know how, and the factories, none of that which are required to build those stuff, and therefore we don’t build them. And this is the same for vinyl discs, right? You can buy vinyl disk today if you want, but it’s actually more expensive than it used to be twenty years ago.
We used to have space shuttles. Both Russia and US used to have space shuttles. And now only the US have space shuttles, and now nobody has space shuttles anymore.
And there is an even better counter example to that. It’s that the US, right now, is refining Uranium for nuclear weapons. Like on a regular basis there are people working on that problem. Except that the US doesn’t need any new uranium to make nuclear weapons because they are decommissioning the weapons that are too old and can reuse that uranium to build the new weapon that they are building. The demand for that is actually zero, and still there are people making it and they are just basically making it and storing it forever, and it’s never used. So why is the US spending money on that? Well you would say governments are usually pretty good at spending money on stuff that are not very useful, but in that case there is a very good reason. And the good reason is that they don’t want to forget how it’s done. Because maybe one day it’s going to be useful. And acquiring the whole knowledge of working with uranium and making enriched uranium, refining uranium, it’s not obvious. It’s a very complicated process. It involves very advanced engineering and physics, a lot of that, and keeping people working on that problem ensures that knowledge is kept through time. If you don’t do that, those people are going to retire and nobody will know how to do it. Right.
So in addition to decaying infrastructure from time to time, we can have zero days in software, meaning problems in the software that are not now exploited live on the network. We can have denial of service attack, we can have various failures on the network, or whatever else, so just like any other infrastructure we need people that essentially take care of the problem and fight the decay constantly doing maintenance and also be ready to intervene whenever there is some issue. And that means that even if there is no new work to be done, you want to have a large enough group of people that are working on that everyday just making it all nice and shiny so that when something bad happens, you have people that understand how the system works. So even if for nothing else, you want a large enough set of people working on infrastructure for that to be possible.
So we’re not quite there yet, and we’re very reliant on BTC. Because the software that we’re relying on to run the network is actually a fork to the BTC codebase. And this is not specific to Bitcoin Cash. This is also true for Litecoin, and Dash, and Zcash and whatever. There are many many crypotos that are just a fork of the Bitcoin codebase. And all those crypos they actually are reliant on BTC to do some maintenance work because they have smaller teams working on the infrastructure. And as a result any rational market cannot price those other currencies higher than BTC. It would just not make sense anymore. If BTC were to disappear, or were to fail on the market, and this problem is not addressed, then all those other currencies are going to fail with it. Right? And you know that may not be what we want, but that’s kind of like where we are right now.
So if we want to go to the next level, maybe become number one in that market, we need to fix that problem because it’s not going to happen without it.
So I was mentioning the 3% number before, and it’s always very difficult to know what all the parameters are that goes into that number, but one of them is that. Just that alone, I’m sure that we are going to have a lower value than BTC always as long as we don’t fix that problem.
Okay, how do we fix that problem? What are the elements we have that prevent us from fixing that problem? Well, first we need people with very specific skill sets. And the people that have experience in those skill sets, there are not that many of them because there are not that many places where you can work on systems involving hundreds of millions, if not billions of users, that do like millions of transactions per second, that have systems that have hundreds of gigabytes per second of throughput, this kind of stuff. There are just not that many companies in the world that operate on that scale. And as a result, the number of people that have the experience of working on that scale is also pretty much limited to the people coming out of those companies. So we need to make sure that we are able to attract those people.
And we have another problem that I talked about with Justin Bons a bit yesterday, that we don’t want to leave all that to be fixed by a third party.
It may seem nice, you know, so okay, I have a big company making good money, I’m gonna pay people working on the infrastructure for everybody. I’m gonna hire some old-time cypherpunk that became famous because he made a t-shirt about ERISA and i’m going to use that to promote my company and hire a bunch of developers and take care of the infrastructure for everybody. It’s all good people, we are very competent. And indeed they are very competent, but they don’t have your best interest in mind, they have their best interest in mind. And so they should, right? It’s not evil to have your own interest in mind, but you’ve got to remember that if you delegate that to others, they have their best interest in mind, they don’t have yours. So it’s very important that you have different actors that have different interests that get involved into that game of maintaining the infrastructure. So they can keep each other in check.
And if you don’t quite understand the value proposition for you as a business who builds on top of BCH, the best way to explain that to whoever is doing the financials of your company is as an insurance policy. The point of the insurance on the building where your company is, or on the servers, is so that if everything burns down, you can get money to get your business started and don’t go under. Well this is the same thing. Your business relies on some infrastructure, and if this infrastructure ends up going down, disappearing, or being taken in a direction that doesn’t fit your business, your business is toast. And so you want to have an insurance policy there that insures that the pieces that you’re relying on are going to be there for you when you need them.
Alright let’s take an example. In this example, I purposefully did not put any name because I don’t want to blame people. I want to use this as an example of a mistake that were made. I want you to understand that many other people have done many similar mistakes in that space, and so if all you take from what I’m saying here is like those people are bad and you should blame them, this is like completely the wrong stuff. But I also think it’s useful to have a real life example.
So on September 1st, at the beginning of the week, we had a wave of spam that was broadcasted on the network. Someone made like a bunch of transactions, and those were very visibly transactions that were not there to actually do transactions, they were there just to create a bunch of load on the network and try to disturb its good behavior.
And it turned out that most miners were producing blocks from 2 to 8 megabytes, while typical market demand is below half a megabyte, typically, and everything else above that was just spam, essentially. And if you ask any people that have experience in capacity planning, they are going to tell you that those limits are appropriate. The reason why, and the alternative to raising those limits that you can use to mitigate those side effects are a bit complicated and they would require a talk in and of itself to go into, so I’m going to just use an argument from authority here, but trust me, I know what I’m talking about here, and this is just like raising those limits is just not the solution. But some pool decided to increase that soft cap to 32 megs. And this has two main consequences that I want to dig in to explain what is not the right solution.
And the first one is that we have businesses that are building on BCH today. And those businesses are the ones that are providing value, they are the ones making our network valuable. Right? So we need to treat those people as first class citizens. We need to attract and value them as much as we can. And those people, they find themselves in the position where they can either dedicate their resources and their attention and their time to make their service better and more valuable for users, or maybe expand their service to more countries, to more markets, to whatever, they can do a lot of stuff, or they can spend their time and resources to make sure the system works not when you have like 10x the usual load, but also 100x the usual load. And this is something that is not providing value to them, this is something that is not providing value to us, and I would even argue that this is something that is providing negative value.
Because if those people don’t improve their service, or build new services, or expand their service to new markets, what’s going to happen is that we’re not going to do 100x. 100x happens because people provide useful services and people start using it. And if we distract those people so that they need to do random stuff that has nothing to do with their business, then we’re never going to do 100x. And so having a soft cap that is way way way above what is the usual market demand (32 megs is almost a hundred times what is the market demand for it), it’s actually a denial of service attack that you open for anyone that is building on the chain.
We were talking before, like yesterday we were asking about how do we attract developers, and one of the important stuff is that we need to value that over valuing something else. And when we take this kind of move, the signal that we send to the community, to the people working on that, is that people yelling very loudly on social media, their opinion is more valued than your work to make a useful service building on BCH. This is an extremely bad signal to send. So we don’t want to send those kind of signals anymore.
That’s the first order effect, but there’s a second order effect, and the second order effect is to scale we need people with experience in capacity planning. And as it turns out big companies like Google, and Facebook, and Amazon pay good money, they pay several 100k a year to people to do that work of capacity planning. And they wouldn’t be doing that if they just had to listen to people yelling on social media to find the answer. Right? It’s much cheaper to do the simple option, except the simple option is not very good because this is a very complex engineering problem. And not everybody is like a very competent engineer in that domain specifically. So put yourself in the shoes of some engineers who have skills in that particular area. They see that happening, and what do they see? The first thing that they see is that if they join that space, they’re going to have some level of competence, some level of skill, and it’s going to be ignored by the leaders in that space, and ignoring their skills is not the best way to value it as it turns out. And so because of that, they are less likely to join it. But there is a certain thing that they’re going to see. And that is that because they are ignored, some shit is going to happen, some stuff are going to break, some attacks are going to be made, and who is going to be called to deal with that? Well, it’s them. Right? So not only are they going to be not valued for their stuff, the fact that they are not valued for their stuff is going to put them in a situation where they have to put out a bunch of fires that they would have known to avoid in the first place. So that’s an extremely bad value proposition for them to go work for us. And if we’re going to be a world scale currency, then we need to attract those kinds of people. And so we need to have a better value proposition and a better signaling that we send to them.
Alright, so that’s the end of the first infrastructure stuff. Now I want to talk about game theory a bit, and specifically, Schelling points.
So what is a Schelling point? A Schelling point is something that we can agree on without especially talking together. And there are a bunch of Schelling points that exist already in the Bitcoin space. For instance we all follow the longest chain that have certain rules, right? And we don’t need to talk to each other. If I’m getting my wallet and I have some amount of money and I go to any one of you here and you check your wallet and you have that amount of money and those two amounts agree. We never talk to each other to come to any kind of agreement about how much each of us have in terms of money. We just know. Why? Because we have a Schelling point. We have a way to decide that without really communicating. So that’s the longest chain, but also all the consensus rules we have are Schelling points. So for instance, we accept blocks up to a certain size, and we reject blocks that are bigger than that. We don’t constantly talk to each other like, ‘Oh by the way do you accept 2 mb blocks?’ ‘Yeah I do.’ ‘Do you accept like 3 mb blocks? And tomorrow will you do that?’
We’re not doing this as different actors in the space, constantly worrying each other. We just know there is a block size that is a consensus rule that is agreed upon by almost everybody, and that’s a consensus rule. And all the other consensus rules are effectively changing Schelling points. And our role as a community is to create valuable Schelling points. Right? You want to have a set of rules that provide as much value as possible for different actors in the ecosystem. Because this is how we win. And there are two parts to that. Even though sometimes we look and it’s just one thing, but there are actually two things.
The first one is that we need to decide what is a valuable Schelling point. And I think we are pretty good at this. And this is why we have a lot of utility and we have a very strong fundamental development. We are very good at choosing what is a good Schelling point. We are very bad at actually creating it and making it strong.
So I’m going to talk about that.
How do you create a new Schelling point. For instance, there was a block size, and we wanted a new block size. So we need to create a new Schelling point. How do you create a new Schelling point that is very strong? You need a commitment strategy. That’s what it boils down to. And the typical example that is used when discussing Schelling points is nuclear warfare. So think about that a bit. You have two countries that both have nuclear weapons. And one country sends a nuke on the other country. Destroys some city, whatever, it’s bad. When you look at it from a purely rational perspective, you will assume that people are very angry, and that they want to retaliate, right? But if you put that aside, there is actually no benefit to retaliating. It’s not going to rebuild the city, it’s not going to make them money, it’s not going to give them resources to rebuild it, it’s not going to make new friends. Usually not. It’s just going to destroy some stuff in the other guy that would otherwise not change anything because the other guys already did the damage to us. So if you want nuclear warfare to actually prevent war like we’ve seen mostly happening in the past few decades with the mutually assured destruction theory, you need each of those countries to have a very credible commitment strategy, which is if you nuke me, I will nuke you, and I’m committing to that decision no matter what. I don’t care if it’s good or bad for me, if you nuke me, I will nuke you. And if you can commit to that strongly enough so that it’s credible for other people, it’s most likely that they are not going to nuke you in the first place because they don’t want to be nuked. And it’s capital to understand that this commitment strategy, it’s actually the most important part of it. It’s not the nuke, it’s not any of it, it’s the commitment strategy. You have the right commitment strategy, you can have all the nuke that you want, it’s completely useless, because you are not deterring anyone from attacking you.
There are many other examples, like private property. It’s something usually you’re going to be willing to put a little bit of effort to defend, and the effort is usually way higher than the value of the property itself. Because this is your house, this is your car, this is your whatever, and you’re pretty committed to it, and therefore you create a Schelling point over the fact that this is your house, this is your car, this is your whatever. People are willing to use violence and whatever to defend their property. This is effectively, even if you don’t do it yourself, this is what happens when you call the cops, right? The cops are like you stop violating that property or we’re going to use violence against you. So people are willing to use a very disproportionate response even in comparison to the value of the property. And this is what is creating the Schelling point that allows private property to exist.
This is the commitment strategy. And so the longest chain is a very simple example. You have miners and what miners do when they create a new block, essentially they move from one Schelling point when a bunch of people have some amount of money, to a new Schelling point where some money has moved, and we need to agree to the new Schelling point. And what they do is that they commit a certain amount of resources to it via proof of work. And this is how they get us to pay attention to the new Schelling point. And so UASF is also a very good example of that where people were like we activate segwit no matter what, like, if it doesn’t pan out, we just like busted our whole chain and we are dead.
Right? This is like the ultimate commitment strategy, as far as computer stuff is involved. It’s not like they actually died or anything, but as far as you can go in the computer space, this is very strong commitment strategy.
So let me take an example that is fairly inconsequential in its consequences, but I think explains very well. The initial BCH ticker was BCC. I don’t know if people remember that. Personally I remember reading about it. It was probably when we created it with Jonald and a few other people. And so I personally was for XBC, but I went with BCC, and most people wanted BCC right? It doesn’t matter. But it turned out that Bitfinex had some Ponzi scheme already listed as BCC. It was Bitconnect, if you remember. Carlos Matos, you know, great guy, but Bitconnect was not exactly the best stuff ever, it was a Ponzi scheme. And so as a result Bitifnex decided to list Bitcoin Cash as BCH instead of BCC, and then the ball started rolling and now everybody uses BCH instead of BCC.
So it’s not all that bad. The consequences are not that very bad. And I know that many of you are thinking that right now. Why is this guy bugging us about this? We don’t care if it’s BCC or BCH. And if you’re doing that, you are exactly proving my point.
Because … there are people working for Bitcoin.com here right? Yeah, so Bitcoin.com is launching an exchange, or just has launched, it’s either out right now or it’s going to be out very soon. Well think about that. Make this thought experiment for yourself. Imagine that Bitcoin.com lists some Ponzi scheme as BTC, and then they decide to list Bitcoin as BTN. What do you think would be the reaction of the Bitcoin Core supporter? Would they be like, you know what? we don’t want to be confused with some Ponzi scheme so we’re going to change everything for BTN. No, they would torch down Roger Ver even more than they do now, they would torch down Bitcoin.com. They would insult anyone that would suggest that this was a good idea to go there. They would say that everyone that uses the stuff that is BTC that it’s a ponzi scheme, and that it’s garbage, and that if you even talk about it you are the scum of the earth. Right? They would be extremely committed to whatever they have.
And I think this is a lesson that we need to learn from them. Because even though it’s a ticker, it’s not that important, it’s that attitude that you need to be committed to that stuff if you want to create a strong Schelling point, that allows them to have a strong Schelling point, and that does not allow us to have that strong of a Schelling point.
Okay, so yesterday we had the talk by Justin Bons from Cyber Capital, and one of the first things he said in his talk, is that his company has a very strong position in BCH. And so that changed the whole tone of the talk. You gotta take him seriously because his money is where his mouth is. You know that he is not coming on the stage and telling you random stuff that comes from his mind or tries to get you to do something that he doesn’t try himself. That doesn’t mean he’s right. Maybe he’s wrong, but if he’s wrong, he’s going bankrupt. And you know just for that reason, maybe it’s worth it to listen to it a bit more than some random person saying random stuff when they have no skin in the game.
And it makes him more of a leader in the space. Okay we have some perception in this space that we have a bunch of leaders, but many of them don’t have skin in the game. And it is very important that they do. So when there is some perceived weakness from BCH, if you act as an investor, you are going to diversify. If you act as a leader, you are going to fix that weakness. Right? And so, leaders, it’s not like you can come here and decide well, I’m a leader now. Leaders are leaders because people follow them. It seems fairly obvious, but … and you are the people following the leaders, and I am as well. We decide to follow the opinion of some people more than the opinion of others. And those are the defacto leaders of our community. And we need to make sure that those leaders that we have like Justin Bons, and make sure that they have a strong commitment to whatever they are leading you to, because otherwise you end up in this situation:

https://preview.redd.it/r23dptfobcl31.jpg?width=500&format=pjpg&auto=webp&s=750fbd0f1dc0122d2791accc59f45a235a522444
Where you got a leader, he’s getting you to go somewhere, he has some goal, he has some whatever. In this case he is not that happy with the British people. But he’s like give me freedom or give me death, and he’s going to fight the British, but at the same time he’s like you know what? Maybe this shit isn’t gonna pan out, you gotta make sure you have your backup plan together, you have your stash of British pound here. You know, many of us are going to die, but that’s a sacrifice I’m willing to make.
That’s not the leader that you want.
I’m going to go to two more examples and then we’re going to be done with it. So one of them is Segwit 2x. Segwit 2x came with a time where some people wanted to do UASF. And UASF was essentially people that set up a modified version of their Bitcoin node that would activate segwit on August 1, no matter what. Right? No matter what miners do, no matter what other people do, it’s going to activate segwit. And either I’m going to be on the other fork, or I’m going to be alone and bust. Well, the alternative proposal was segwit 2x. Where people would activate segwit and then increase the size of the block. And what happened was that one of the sides had a very strong commitment strategy, and the other side, instead of choosing a proportional commitment strategy, what they did was that they modified the activation of segwit 2x to be compatible with UASF. And in doing so they both validate the commitment strategy done by the opposite side, and they weaken their own commitment strategy. So if you look at that, and you understand game theory a bit, you know what’s going to happen. Like the fight hasn’t even started and UASF has already won. And when I saw that happening, it was a very important development to me, because I have some experience in game theory, a lot of that, so I understood what was happening, and this is what led me to commit to BCH, which was BCC at the time, 100%. Because I knew segwit 2x was toast, even though it had not even started, because even though they had very strong cards, they are not playing their cards right, and if you don’t play your cards right, it doesn’t matter how strong your cards are.
Okay, the second one is emergent consensus. And the reason I wanted to put those two examples here is because I think those are the two main examples that lead to the fact that BTC have small blocks and we have big blocks and we’re a minority chain. Those are like the two biggest opportunities we had to have big blocks on BTC and we blew both of them for the exact same reason.
So emergent consensus is like an interesting technology that allows you to trade your bigger block without splitting the network. Essentially, if someone starts producing blocks that are bigger than … (video skips) ,,, The network seems to be following the chain that has larger blocks, eventually they’re going to fall back on that chain, and that’s a very clevery mechanism that allows you to make the consensus rules softer in a way, right? When everybody has the same consensus rules, it still remains enforced, but if a majority of people want to move to a new point, they can do so by bringing others with them without creating a fork. That is a very good activation mechanism for changing the block size, for instance, or it can be used to activate other stuff.
There is a problem, though. This mechanism isn’t able to set a new point. It’s a way to activate a new Schelling point when you have one, but it provides no way to decide when and where or to what value or to anything to where we are going. So this whole strategy lacks the commitment aspect of it. And because it lacks the commitment aspect of it, it was unable to activate properly. It was good, but it was not sufficient in itself. It needs to be combined with a commitment strategy. And especially on that one there are some researchers that wrote a whole paper (https://eprint.iacr.org/2017/686.pdf) unpacking the whole game theory that essentially come to that conclusion that it’s not going to set a new size limit because it lacked the commitment aspect of it. But they go on like they model all the mathematics of it, they give you all the numbers, the probability, and the different scenarios that are possible. It’s a very interesting paper. If you want to see, like, because I’m kind of explaining the game theory from a hundred mile perspective, but actually you can deep dive into it and if you want to know the details, they are in there. People are doing that. This is an actual branch of mathematics.
Alright, okay so conclusion. We must avoid to weaken our commitment strategy. And that means that we need to work in a way where first there is decentralization happening. Everybody has ideas, and we fight over them, we decide where we want to go, we put them on the roadmap, and once it’s on the roadmap, we need to commit to it. Because when people want to go like, ‘Oh this is decentralized’ and we do random stuff after that, we actually end up with decentralization, not decentralization in a cooperative manner, but like in an atomization manner. You get like all the atoms everywhere, we explode, we destroy ourself.
And we must require a leader to have skin in the game, so that we make sure we have good leaders. I have a little schema to explain that. We need to have negotiations between different parties, and because there are no bugs, the negotiation can last for a long time and be tumultuous and everything, and that’s fine, that’s what decentralization is looking like at that stage, and that’s great and that makes the system strong. But then once we made a decision, we got to commit to it to create a new Schelling point. Because if we don’t, the new Schelling point is very weak, and we get decentralization in the form of disintegration. And I think we have not been very good to balance the two. Essentially what I would like for us to do going forward is encouraging as much as possible decentralization in the first form. But consider people who participate in the second form, as hostile to BCH, because their behavior is damaging to whatever we are doing. And they are often gonna tell you why we can’t do that because it’s permissionless and decentralized, and they are right, this is permissionless and decentralized, and they can do that. We don’t have to take it seriously. We can show them the door. And not a single person can do that by themself, but as a group, we can develop a culture where it’s the norm to do that. And we have to do that.”
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Happy Tipping Tuesday! Now that this sub is the main Bitcoin sub in terms of activity, it's time for everyone to get some Education and some free Bitcoin. Post here and get free bits! Bitcoin Cash will defeat the legacy banking oligarch system!

As someone who cares about Liberty and freedom, I have instinctively understood the importance of Bitcoin for spreading economic freedom across the globe. Being sick of the legacy too-big-to-fail central bank fiat bailout scam systems where they print the money from thin air, I saw Bitcoin as a tool that can really liberate humanity and help us reach our ultimate potential. The fact is economic freedom improves this world, and the stakes are very large. We are fighting an oligarch banking system that prints money out of thin air, holding back humanity's potential with their scam system that only works to enslave and not liberate humanity. In the past people fought for liberty and gave their lives on bloody battlefields. Today we fight troll wars on social media, but the stakes are quite similar, if not multiplied in this new technological age. By supporting Bitcoin and Satoshi's vision of a worldwide honest cash system, its one of the only ways to help lift humanity up to our ultimate limitless potential. The oligarch's saw this threat which is why we are under heavy attacks. They stole Bitcoin and the ticker, and crippled the system with high fees, unreliable transactions, and Trojan horse tech, but Bitcoin Cash adapted, survived, and lives on as the common sense continuation of the money ledger. It turns out that its not so easy to stop an idea whose time has come.
Bitcoin Cash is the true Bitcoin that follows Satoshi's vision of common sense and on-chain scaling. BCH is The Manifestation of the Honey Badger. Trolls will point to market cap and say BCH is losing and not the real Bitcoin. However they fail to understand the nature of the war we are fighting. Bitcoin is all about breaking oligarchy, as nChain's paper explains. We are fighting against a banker oligarch takeover of Bitcoin. Since they print money from thin air, they have us outgunned when it comes to market capitalization/price. This is what the trolls do not understand. To think that the oligarch bankers that control the money monopoly would not try to attack the Bitcoin system would be naive. It appears they have pumped the BTC-Core price to outrun Bitcoin Cash the real Bitcoin as soon as their trojan segwit tech was deployed. They likely will use segwit, strangled blocks, and Lightning Network as the strangler fig to usurp the system changing it to fiat legacy banking system 2.0. What they don't want people to realize is that Bitcoin was always the underdog against fiat systems. Just because they usurped the name and BTC ticker for their fiat 2.0 system it does not mean they are winning the war. Its a clever tactic sure, but BCH is still the #1 cryptocurrency by market cap in the world, they have shifted some shells around in trickery, but Bitcoin-BCH is still fighting as the underdog against the oligarchs as it always has.
Not only this but the numerous problems in Lightning are acting as a bottleneck for development on Core. All this while BCH development is soaring with things like memo.cash, blockpress.com, cashshuffle protocol, chainbet protocol, SLP token protocol, colored coins, tokeda, and much more. Now that we have solved the scaling issue we can finally build again. All this while numerous services like Dell, Steam, Reddit, Rakuten, Stripe, Circle, Microsoft, Fiverr, Satoshidice, Changetip, Expedia, and many more stopped accepting Bitcoin Core, while Coinbase, Bitpay, coins.ph, satoshidice, tippr, purse.io, dark web all are adding BCH support.
They thought they could use censorship to shut us up. But now we are seeing that free speech is more popular than censored cult subreddits. We are battling some powerful oligarch interests. But they have vastly underestimated the spirit of the Honey Badger. There is a reason there is so much COINTELPRO trolling and dirty tricks being done to Bitcoin Cash and its supporters. There is a reason they need to use vote manipulation, shaming and bullying tactics, censorship, and dirty tricks to try to get us to shut our mouths. The truth is they are terrified of Bitcoin Cash and Satoshi's vision, which is why they need to use such tactics. They are doing whatever they can to pen the Honey Badger up in sheer desperation and terror that it will soon break loose ripping them limb from limb and devouring them whole.
I would like to mention that the recent turmoil in the BCH community over a November fork with different factions fighting each other is on a lot of people's minds. Some newbs may also be wondering about what is going on. They may be falling into the Fear Uncertainty and Doubt that is being pushed by a lot of Core trolls, as well as some genuine members of the BCH community. I would like to point out that these disputes are actually healthy. We don't want a system where one person or group controls things. We want a system where people are fighting for control. Its an economic incentive system with different factions competing. This is what keeps Bitcoin robust and was the genius of Satoshi's design. We don't need to worry about the troll wars because we have Nakamoto consensus as the whitepaper says:
They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism"
Miners will decide what to support and the community should respect it. Many prominent BCH miners are also meeting in the next days to have a discussion on how to proceed with the protocol in November. The miners have put in their work and investment and have earned their right to vote on new rules. Most of us trolls have not, we are simply picketing outside the polling booth trying to influence how miners vote. They may care what the community thinks, but at the end of the day, Bitcoin is about self-interest, so they may also not necessarily care what the community thinks. Bitcoin was never designed as a democracy 1user 1 vote system as people like Core and Andreas Antonopoulos think. We should celebrate the fact that BCH has many competing implementations, compared to Core's centralized coin with BlockStream Gatekeepers. We also have miner groups challenging developers. Since the system was designed for miners to vote, this is obviously much healthier than developer dictatorships. Miners have much more skin in the game and are incentivized economically to make the right decision. Often times people forget Bitcoin is an economic incentive system.
So after getting a little bit of education, the point of this thread is to post and get free bits, especially for newbs that want to try Bitcoin for the first time. BlockStream admits BTC-Core is not for everyone. But we have news for them, BCH is for everyone!.
Post here and get some free bits. Bits is the historical unit for Bitcoin, but it also went extinct from the high fees on BTC-Legacy. Bits can only be feasible on BCH the real Bitcoin with low fees, it just doesn't work on Bitcoin-Legacy anymore. Coinbase and Bitpay had adopted bits before the fees killed it and my hope is they will embrace it for BCH again. There are 1 million bits in a BCH. If newbs have any questions please feel free to ask in the thread as well and get advice on anything, from potential coin splits, to how to use the tip bot, and withdraw to your own wallet, or other aspects about why Bitcoin-BCH is good, and why Bitcoin-BTC is so bad.
Reddit usage for tippr directions are here: https://www.reddit.com/tippwiki/reddit-usage
Information on chaintip the other tip bot is here: https://www.chaintip.org/
I suggest using the Bitcoin.com wallet for withdrawing BCH because they have BCH as default. You may also want to try the Bitpay wallet, which has some added features like a shapeshift button to change your btc-segwits into Bitcoin-BCH (bitcoin.com has this as well), as well as an amazon button to purchase amazon gift cards instantly in the BitPay app using Bitcoin. And there is a bitcoin BitPay debit card option in the app as well.
In the BitPay wallet you will need to add the BCH wallet as a second wallet as its not there by default. So press the + symbol and create new personal wallet, then choose coin BCH and back it up.
If you need to change between legacy and the new cashaddr format then use this tool: https://cashaddr.bitcoincash.org/
tippr stats are here
submitted by cryptorebel to btc [link] [comments]

What Is KNOWLEDGE BROKER BLUEPRINT: HOW KBB 2.0 METHOD WORKS

KNOWLEDGE BROKER BLUEPRINT BY TONY ROBBINS AND DEAN GRAZIOSI

Knowledge Broker Blueprint is a new winning playbook formula and online business training program created by mastermind legends Tony Robbins and Dean Graziosi and their proprietary MindMint software.
Knowledge Broker Blueprint is the newest 2020 version of Knowledge Business Blueprint which launched in April 2019 (which had over 200,000 people watching its release and over 16,000 people joined). The KBB 2.0 is set up to focus on three core components; course (education), software (tools) and coaching (mastermind).
Dean and Tony are looking to make a lightning strike twice following the success of KBB 1.0. Now with KBB 2.0, they claim to have come back bigger and better than ever to help people start winning at the game of life and business. A “Knowledge Broker” is defined as a person with skill, passion or expertise that shares it with others to create impact and earn profits. Tony and Dean both believe being a Knowledge Broker is the single best thing you can do as an entrepreneur as people are voting with their wallets and paying to learn from professional DOERS instead.
That is the central theme of the Knowledge Broker Blueprint Tony Robbins and Dean Graziosi put together for the launch of KBB 2.0. While there is still more information coming out about the launch of KBB 2.0, here are all of the top-level details we can share about Knowledge Broker Blueprint to start:
Tony Robbins has teamed up with Dean Graziosi to launch a new online training program called Knowledge Broker Blueprint. “KBB” claims it will be one of the biggest online business training course launches in history. While more information is surfacing about the winning playbook found within KBB 2.0, our review of Knowledge Broker Blueprint is broken down into three major sections so you can get a complete overview of what it is, how it works, and what to expect.
To best understand Tony Robbins and Dean Graziosi's Knowledge Broker Blueprint program, our research is in the following format that explores all aspects of KBB 2.0:
1) what is knowledge broker blueprint review 2) who is Tony Robbins 3) Knowledge Broker World Summit
Now, before we jump right into the Knowledge Broker Blueprint review, there is one small minor detail worth mentioning – and that is Tony Robbins fondness of Bitcoin and cryptocurrencies.
Back during the last bull market cycle for crypto assets, Tony Robbins did share a tweet that helped clear up the confusion around Bitcoin with his millions of followers and fans. Also, in addition to tweeting and writing blog posts about bitcoin to educate his audience, he also featured bitcoin in his #1 New York best-selling book, Money: Master the Game where he talked about proper asset allocation in a book where he interviewed the brightest minds and most brilliant financial innovators in the world.
While Knowledge Broker Blueprint isn't focused on bitcoin or cryptocurrencies, it is about business and the future of financial success. This is why Master The Crypto wanted to review Knowledge Broker Blueprint as a fantastic way to self-educate and learn from the right people as the best way to secure success today.
Now, let's dive into all of the research and provide meaningful insight and analysis to how Knowledge Broker Blueprint works, who Tony Robbins is and their Knowledge Broker World Summit event coming up in 2020.

WHAT IS THE KNOWLEDGE BROKER BLUEPRINT?

Tony Robbins and Dean Graziosi have teamed up to launch the Knowledge Broker Blueprint. It’s a combination of a business development plan and a personal development plan.
The Knowledge Broker Blueprint is a live-cast that will take place on February 27. You can opt into the live-cast between February 19 and 26.
Some of the key features of the Knowledge Broker Blueprint include:
The idea behind Knowledge Broker Blueprint is that you can discover the strategies used by some of today’s most successful individuals. What are these people doing to be successful? Knowledge Broker Blueprint claims to teach you these lessons.
The 2020 version of Knowledge Broker Blueprint is officially called Knowledge Broker Blueprint 2.0. It’s the second version of this system.

HOW DOES KNOWLEDGE BROKER BLUEPRINT WORK?

Knowledge Broker Blueprint, also abbreviated to KBB, is an online course consisting of four modules.
The creators of KBB are calling it one of the biggest online course launches in history.
The initial live cast announcing the launch of Knowledge Broker Blueprint had over 250,000 viewers worldwide. That live cast was hosted by Tony Robbins and Dean Graziosi.
In the words of the course’s creator, the course “teaches you how to extract your knowledge, skill, hobby or passion (or someone else’s)”, then identity the people willing to pay for that unique skill or knowledge.
What type of “thing” do you do more effectively than anyone else? What type of knowledge do you have that people may be willing to pay for?
While progressing through the Knowledge Broker Blueprint course, you will use the MindMint software. The software keeps track of your progress.
That’s why Knowledge Broker Blueprint is more than just an education program or software system: it’s a combination of both. Together, the education program and software promise to “allow anyone to start or scale a highly impactful and highly profitable mastermind, group, workshop or community.”
Some people might think, “I don’t even have any unique skills. I can barely use a computer.” That’s fine! As the creator of Knowledge Broker Blueprint explains:
“It doesn’t mater if you don’t have any tech skills or any previous business experience. Everything you need to know is provided in this training program by 3 of the greatest entrepreneurs of our generation.”

WHAT WILL YOU LEARN IN KNOWLEDGE BROKER BLUEPRINT?

Knowledge Broker Blueprint isn’t your typical training course. The entire purpose of the course is to teach you how to leverage your unique knowledge into personal profit.
As the name of the course suggests, Knowledge Broker Blueprint will give you the blueprint you need to broker your knowledge.
As a “knowledge broker”, you are selling your unique knowledge to the world. What type of information can you leverage today? What kind of unique knowledge or skills do you have that people are willing to pay for?
The ultimate goal is to teach you how to run your own mastermind group or mastermind event.
The Knowledge Broker Blueprint course gives you all of the tools you need to set up your mastermind group, the market that mastermind group to the world, and maximize profit from that group.
Keep in mind that you don’t need to know anything to run a mastermind group. Some people run profitable mastermind groups simply by inviting smarter people to the event. If you could get Oprah Winfrey, Elon Musk, and Bill Gates into one room, don’t you think people would buy a ticket? That’s an extreme example, but that’s the type of thinking behind Knowledge Broker Blueprint.

WHAT’S INCLUDED WITH KNOWLEDGE BROKER BLUEPRINT?

Knowledge Broker Blueprint is a completely online course. You get video tutorials, resources, exercises, downloadable worksheets, and access to a private Facebook group. Here’s what you get with Knowledge Broker Blueprint:
  1. Extract It
  2. Fill It
  3. Run It
  4. Knowledge Broker
Each training video ranges in length from 7 minutes to 30 minutes. However, there are some longer training videos that dive deep into topics like Facebook and YouTube advertisements.
The downloadable PDF worksheets, meanwhile, can be printed off before you start a lesson. Fill in the worksheets as you go along. Or, test your knowledge after (or both). It will help you retain the information from the lesson.
Each lesson is also followed by a quiz to verify that you retained the knowledge.
In other words, there’s a lot of content with Knowledge Broker Blueprint. The hours of video will teach you everything you need to know about creating your own mastermind program.
Tony and Dean have packaged years of experience in these videos. They’re distilling their combined 60+ years of industry experience into one concise training program. If you’re willing to put in the work, you can get a lot of priceless information from Knowledge Broker Blueprint.

WHAT IS MINDMINT SOFTWARE?

Knowledge Broker Blueprint 2.0 comes with a software called MintMint. The software walks you through the entire process of setting up an event, including the initial announcement of the event, marketing for the event, planning, execution, and more.
Essentially, MindMint has everything you need to ensure your mastermind event goes off smoothly – and profitably.
MindMint also organizes event information in one place. You can keep information about the trainers, speakers, attendees together, for example, along with the information about the schedule, key dates, and more.
MindMint doesn’t just help plan and organize the event: the software also helps you create a sales funnel for the event. You can get help with everything from your landing page to your final payment page.
In summary, here’s what’s included with the MindMint software:
Planning Support: Event scheduling, itinerary, attendees, hosts, and more.
Announcement Support: Build hype, marketing support, email templates, sales copy, and more
Sales Funnel: Landing page, templates, payment pages, marketing, and more.
And More: MindMint is an all-in-one software that contains everything you need to know about running your own mastermind event from beginning to end.

KNOWLEDGE BROKER BLUEPRINT MODULES

We mentioned above that Knowledge Broker Blueprint comes with four modules, including Extract It, Fill It, Run It, and Knowledge Broker. Below, we’ll explain what you’ll learn in each of those modules:

1. EXTRACT IT

The first module, Extract It, begins with Tony Robbins explaining some crucial lessons on mindset. How do successful people think? What strategies do successful people do differently on a daily basis? Tony Robbins uses his 40+ years of self-help experience to explain the secret mindsets of successful people. Then, Dean breaks down the most important foundational steps you’ll need to cover before creating a business, including:

2. FILL IT

In the second module, Fill It, Tony and Dean will explain marketing tactics to promote your mastermind group. Dean and other experts will teach you how to become a marketing expert with topics like:

3. RUN IT

Run It explains the strategies you need to execute your successful event. You’ve developed your event and marketed it. Now you need to pull it off and amaze attendees. Some of the strategies covered in the third module include:

4. KNOWLEDGE BROKER

Finally, Knowledge Broker lists three aspects of running your own mastermind group, including:

BONUS PRODUCTS INCLUDED WITH KNOWLEDGE BROKER BLUEPRINT

As an early Knowledge Broker Blueprint adopter, you get access to several bonus lessons, including:
Tony Robbins’ Ultimate Edge: Four-part audio system explaining how to create an extraordinary and successful life.
Dean’s Inner Circle: Highlights from Dean’s best Inner Circle training lessons.
Tony Robbins’ Platinum Bonus: Recordings from experts like Jack Bogle and Peter Mallouk.
Russel Brunson’s Mastermind Funnels: Secrets to setting up bulletproof sales funnels.
Tony Robbins’ Priming Exercise: How to give yourself a winning mindset.

FREQUENTLY ASKED QUESTIONS (FAQS) ABOUT KNOWLEDGE BROKER BLUEPRINT

Q: On What Day Will the Knowledge Broker Blueprint Livecast Take Place?
A: The Knowledge Broker Blueprint livecast will take place on February 27, 2020.
Q: Who is Tony Robbins?
A: Tony Robbins is a motivational speaker, author, business consultant, and self-help expert. Robbins rose to prominence in the 1980s and 1990s with infomercials and national bestselling books. Today, he continues to be relevant to seminars and other events.
Q: What is the Knowledge Broker Blueprint?
A: The Knowledge Broker Blueprint is an online training course that teaches you how to launch your own mastermind event from beginning to end. It explains how to “broker” knowledge: you’re collecting knowledge (either from yourself or others) and selling that knowledge to the world.
Q: What is a Mastermind Group?
A: A mastermind group is a group or event where you share unique knowledge, skills, or experience with the world.
Q: Is Knowledge Broker Blueprint Legit?
A: Knowledge Broker Blueprint is marketing itself as one of the biggest online course launches in history. There’s a lot of content here, and the course is certainly legitimate. The fact that Tony Robbins has signed on is a big deal.
Q: What is Knowledge Business Blueprint?
A: In 2019, the same team launched a similar event called Knowledge Business Blueprint. In 2020, the team is launching a new event called Knowledge Broker Blueprint, although the two share similar strategies.
Q: Who is Dean Graziosi?
A: Dean Graziosi is an author, investor, entrepreneur, and trainer who grew from poverty to wealth. Today, he teaches others how to replicate that success. Graziosi is leading the Knowledge Broker Blueprint training system in partnership with Tony Robbins.
Now, this concludes our comprehensive review of Knowledge Broker Blueprint – but there is much more ground to cover to understand how Dean Graziosi and Tony Robbins came to be the legends they are today in the world of online business and entrepreneurship. Next, let's revisit the incredible life and story of Tony Robbins, the pioneering Mastermind guru behind KBB 2.0.

WHO IS TONY ROBBINS?

Tony Robbins is an American author, life coach, and philanthropist. The Los Angeles-based entrepreneur is best-known for his infomercials, seminars, and self-help books, including the books Unlimited Power (published in 1987) and Awaken the Giant Within (published in 1993).
Over the years, Robbins has worked individually with clients ranging from Bill Clinton to Wayne Gretzky to Steve Wynn.
By the early 1990s, an estimated 100 million Americans had viewed Tony Robbins infomercials. Many of his books have also become national bestsellers.

TONY ROBBINS: EARLY LIFE AND BIO

Tony Robbins was born in North Hollywood, California on February 29, 1960. He claims to have had a “chaotic” and “abusive” home life throughout his childhood. Robbins is the eldest of three children, and his parents divorced when he was seven. His mother remarried multiple times, including to a former semi-professional baseball player named Jim Robbins, who legally adopted Tony when he was 12.
Tony Robbins was born Anthony J. Mahavoric, although he changed his name to Anthony Jay Robbins after being adopted by Jim Robbins. Although he once went under the name Anthony Robbins, he now mostly goes by Tony Robbins.
When Robbins was 17 years old, he left home and never returned. He later worked as a janitor, and he never attended college.
Robbins began his career promoting events for motivational speaker and author Jim Rohn. In the early 1980s, Robbins developed techniques of neurolinguistic programming (NLP), hypnosis, and firewalking, incorporating these techniques into his seminars.
In 1987, Robbins published his first self-help book. In 1988, Robbins released his first infomercial, advertising himself as a “peak performance coach”.
Robbins’ career took off shortly after. His infomercials later featured celebrities like Pro Football Hall of Fame quarterback Fran Tarkenton and actor Martin Sheen. Robbins claimed to be able to help anyone – from athletes to business people to actors – unlock their maximum potential.
By 1991, an estimated 100 million Americans had viewed Robbins’ infomercials.
Over the years, Robbins has worked individually with many notable names, including Bill Clinton, Wayne Gretzky, Serena Williams, Hugh Jackman, Pitbull, and Justin Tuck.
Robbins is also trusted by some of America’s most notable business names, including Golden State Warriors co-owner Peter Guber and businessmen Steven Wynn and Marc Benioff. In more recent years, he has positioned himself as not just a self-help coach but also has a valuable business consultant.

TONY ROBBINS BIO: WHAT IS HE DOING TODAY?

Although he achieved initial success in the 1980s and 1990s, Tony Robbins continues to be relevant today. In 2015 and 2016, Robbins was listed on the Worth Magazine Power 100 list.
In 2014, Robbins made headlines for teaming up with Mia Hamm, Magic Johnson, and Peter Guber to acquire the rights to the Los Angeles Football Club (LAFC). Along with the LA Galaxy, LAFC is one of two MLS soccer teams in the Los Angeles area. They entered the league in 2018.
In 2016, Robbins got into eSports, purchasing Team Liquid, one of the best-known teams in the industry.
In 2019, the top three names on the Worth Magazine Power 100 list included Amazon founder and CEO Jeff Bezos, China President and General Secretary Xi Jinping, and United States President Donald Trump. The magazine has ranked the top 100 most powerful people in the world every year since 2010.
Tony Robbins also continues to organize seminars through Robbins Research International.
Robbins has starred in infomercials since the 1980s. Today, the 59-year old motivational speaker has teamed up with Dean Graziosi to launch a program called the Knowledge Broker Blueprint.

TONY ROBBINS UNLIMITED POWER (1987)

To understand Tony Robbins and his success, it helps to understand his self-help books.
Tony Robbins’ first big hit, Unlimited Power, became a national bestseller. The book teaches you how to achieve a successful life.
In Unlimited Power, Robbins covers topics like:
The book was well-reviewed, and it remains a classic self-help book even in 2020, 33 years after first being published.

TONY ROBBINS AWAKEN THE GIANT WITHIN (1993)

Six years after publishing Unlimited Power, Tony Robbins published his second self-help hit: Awaken the Giant Within.
The book is subtitled, “How to Take Immediate Control of Your Mental, Emotional, Physical, and Financial Destiny”.
Robbins walks readers through a step-by-step program that teaches fundamental lessons of self-mastery, including how to discover your true purpose, take control of your life, and harness the forces that shape your destiny.
Robbins tells you how to manage your emotions, your body, your finances, and your life. To date, Robbins has sold over one million copies of Awaken the Giant Within, and it became a #1 national bestseller soon after launch.
Now that Master The Crypto has covered who Tony Robbins is and how Knowledge Broker Blueprint works, let's give an overview of their upcoming event happening in October 2020 that coincides with KBB 2.0.

KNOWLEDGE BROKER WORLD SUMMIT

There are many different ways to learn a new skill, a new trade, or just about anything else. Although the conventional option is to read books, those who are looking for guidance from the expert themselves may want to attend a symposium. One particular program that has received some popularity in recent months is the Knowledge Broker World Summit.
According to the program, a knowledge broker is a person with skill, passion, or expertise who shares it with the world for impact and profit. Two individuals head the Knowledge Broker World Summit: Dean Graziosi and Tony Robbins. Graziosi is a best-selling author, entrepreneur, and investor. As for Robbins, is a business chairman and strategist.

KNOWLEDGE BROKER WORLD SUMMIT SPEAKERS

Aside from hearing from Graziosi and Robbins, you’ll also hear from other speakers who can share their knowledge and experience in a conductive manner. For instance, a few of the attendee speakers include:
Additional speakers are being released as well. Those who register for the program and get their tickers will be notified of the new speakers are they are announced.

WHAT TO EXPECT

The Knowledge Broker World Summit is an event that may be able to provide attendees with guidance concerning how to achieve your goals and desires. As the program platform explains it shares education and wisdom on how to achieve abundance, fulfillment, and success. In addition, it provides direction on how attendees can escape the 9-5 grind, how they can create a legacy, and how to discover the “new you.” Keep in mind that while it all sounds promising, it is important to be aware that these are guiding principles. What may work for one individual does not always work for all.

POSITIVE FEEDBACK

There is also feedback from various individuals on what they “have to say” about the Graziosi and Robbins. It is unknown whether the comments are directed at the program. Nonetheless, the comments on the website are from Serena Williams, Larry King, Richard Branson, and Marie Menounos. Further, the comments are quite positive as well.

TICKET OPTIONS

Those who are interested in the program have several ticket options available, which are as follows:
Option 1: Executive Seating for $323.00. This ticket option comes with 3-day access to the event and general entrance and seating. It also includes exclusive Knowledge Broker merchandise available at the live summit
Option 2: Preferred Seating. This ticket option comes with 3-day access to the vent, preferred entrance and seating, and Knowledge Broker merchandise available at the live summit
Option 3: VIP. This ticker option comes with 3-day access to the event, VIP entrance and seating, and VIP networking party. It also includes Knowledge Broker merchandise available at the live summit
The tickets can be purchased on the platform’s website.
Now, let's conclude our Knowledge Broker Blueprint review and get ready for an incredible launch and presentation by two legendary entrepreneurs who are self-educated and bringing their knowledge to the world via KBB 2.0.

FINAL WORD ON KNOWLEDGE BROKER BLUEPRINT

Tony Robbins is a self-help master who rose to prominence in the 1980s and 1990s. Today, he’s a valued business consultant, author, and motivational speaker. The fact that he has partnered with Dean Graziosi to launch Knowledge Broker Blueprint is a big deal. These guys are both household names in the online business industry and have already done this once with the Knowledge Business Blueprint. With KBB 1.0, they learned, grew, and got vital intel and feedback from their members. Now they have revamped everything for the creation of KBB 2.0 and are promising it to be unlike anything you have ever seen in the world of online marketing and entrepreneurialship.
As the saying goes with all of Master The Crypto's guides, analysis and insights – there are two things every aspiring successful person must do to achieve success optimally:
1) follow the right people 2) act on the right information
Tony Robbins and Dean Graziosi are the right people to follow and Knowledge Broker Blueprint is the right information to act on. Their three-step process found within the Knowledge Broker Blueprint course (education), software (tools) and coaching (mastermind) is guaranteed to be dynamic, dynamite and dominant.
The Knowledge Broker Blueprint livecast will take place on February 27, 2020. Set your calendars. Be sure not to miss the free live KBB 2.0 event and be prepared to be blown away by two industry giants and their legendary methods for teaching people how to create success, freedom and wealth in life.
submitted by JV_info to making_money_online [link] [comments]

Frequently Asked Questions and Information Thread

This FAQ and information thread serves to inform both new and existing users about common Bitcoin topics that readers coming to this Bitcoin subreddit may have. This is a living and breathing document, which will change over time. If you have suggestions on how to change it, please comment below or message the mods.
What is /btc?
The /btc reddit community was originally created as a community to discuss bitcoin. It quickly gained momentum in August 2015 when the bitcoin block size debate heightened. On the legacy /bitcoin subreddit it was discovered that moderators were heavily censoring discussions that were not inline with their own opinions.
Once realized, the subreddit subscribers began to openly question the censorship which led to thousands of redditors being banned from the /bitcoin subreddit. A large number of redditors switched to other subreddits such as /bitcoin_uncensored and /btc. For a run-down on the history of censorship, please read A (brief and incomplete) history of censorship in /bitcoin by John Blocke and /Bitcoin Censorship, Revisted by John Blocke. As yet another example, /bitcoin censored 5,683 posts and comments just in the month of September 2017 alone. This shows the sheer magnitude of censorship that is happening, which continues to this day. Read a synopsis of /bitcoin to get the full story and a complete understanding of why people are so upset with /bitcoin's censorship. Further reading can be found here and here with a giant collection of information regarding these topics.
Why is censorship bad for Bitcoin?
As demonstrated above, censorship has become prevalent in almost all of the major Bitcoin communication channels. The impacts of censorship in Bitcoin are very real. "Censorship can really hinder a society if it is bad enough. Because media is such a large part of people’s lives today and it is the source of basically all information, if the information is not being given in full or truthfully then the society is left uneducated [...] Censorship is probably the number one way to lower people’s right to freedom of speech." By censoring certain topics and specific words, people in these Bitcoin communication channels are literally being brain washed into thinking a certain way, molding the reader in a way that they desire; this has a lasting impact especially on users who are new to Bitcoin. Censoring in Bitcoin is the direct opposite of what the spirit of Bitcoin is, and should be condemned anytime it occurs. Also, it's important to think critically and independently, and have an open mind.
Why do some groups attempt to discredit /btc?
This subreddit has become a place to discuss everything Bitcoin-related and even other cryptocurrencies at times when the topics are relevant to the overall ecosystem. Since this subreddit is one of the few places on Reddit where users will not be censored for their opinions and people are allowed to speak freely, truth is often said here without the fear of reprisal from moderators in the form of bans and censorship. Because of this freedom, people and groups who don't want you to hear the truth with do almost anything they can to try to stop you from speaking the truth and try to manipulate readers here. You can see many cited examples of cases where special interest groups have gone out of their way to attack this subreddit and attempt to disrupt and discredit it. See the examples here.
What is the goal of /btc?
This subreddit is a diverse community dedicated to the success of bitcoin. /btc honors the spirit and nature of Bitcoin being a place for open and free discussion about Bitcoin without the interference of moderators. Subscribers at anytime can look at and review the public moderator logs. This subreddit does have rules as mandated by reddit that we must follow plus a couple of rules of our own. Make sure to read the /btc wiki for more information and resources about this subreddit which includes information such as the benefits of Bitcoin, how to get started with Bitcoin, and more.
What is Bitcoin?
Bitcoin is a digital currency, also called a virtual currency, which can be transacted for a low-cost nearly instantly from anywhere in the world. Bitcoin also powers the blockchain, which is a public immutable and decentralized global ledger. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. There is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. Read the Bitcoin whitepaper to further understand the schematics of how Bitcoin works.
What is Bitcoin Cash?
Bitcoin Cash (ticker symbol: BCH) is an updated version of Bitcoin which solves the scaling problems that have been plaguing Bitcoin Core (ticker symbol: BTC) for years. Bitcoin (BCH) is just a continuation of the Bitcoin project that allows for bigger blocks which will give way to more growth and adoption. You can read more about Bitcoin on BitcoinCash.org or read What is Bitcoin Cash for additional details.
How do I buy Bitcoin?
You can buy Bitcoin on an exchange or with a brokerage. If you're looking to buy, you can buy Bitcoin with your credit card to get started quickly and safely. There are several others places to buy Bitcoin too; please check the sidebar under brokers, exchanges, and trading for other go-to service providers to begin buying and trading Bitcoin. Make sure to do your homework first before choosing an exchange to ensure you are choosing the right one for you.
How do I store my Bitcoin securely?
After the initial step of buying your first Bitcoin, you will need a Bitcoin wallet to secure your Bitcoin. Knowing which Bitcoin wallet to choose is the second most important step in becoming a Bitcoin user. Since you are investing funds into Bitcoin, choosing the right Bitcoin wallet for you is a critical step that shouldn’t be taken lightly. Use this guide to help you choose the right wallet for you. Check the sidebar under Bitcoin wallets to get started and find a wallet that you can store your Bitcoin in.
Why is my transaction taking so long to process?
Bitcoin transactions typically confirm in ~10 minutes. A confirmation means that the Bitcoin transaction has been verified by the network through the process known as mining. Once a transaction is confirmed, it cannot be reversed or double spent. Transactions are included in blocks.
If you have sent out a Bitcoin transaction and it’s delayed, chances are the transaction fee you used wasn’t enough to out-compete others causing it to be backlogged. The transaction won’t confirm until it clears the backlog. This typically occurs when using the Bitcoin Core (BTC) blockchain due to poor central planning.
If you are using Bitcoin (BCH), you shouldn't encounter these problems as the block limits have been raised to accommodate a massive amount of volume freeing up space and lowering transaction costs.
Why does my transaction cost so much, I thought Bitcoin was supposed to be cheap?
As described above, transaction fees have spiked on the Bitcoin Core (BTC) blockchain mainly due to a limit on transaction space. This has created what is called a fee market, which has primarily been a premature artificially induced price increase on transaction fees due to the limited amount of block space available (supply vs. demand). The original plan was for fees to help secure the network when the block reward decreased and eventually stopped, but the plan was not to reach that point until some time in the future, around the year 2140. This original plan was restored with Bitcoin (BCH) where fees are typically less than a single penny per transaction.
What is the block size limit?
The original Bitcoin client didn’t have a block size cap, however was limited to 32MB due to the Bitcoin protocol message size constraint. However, in July 2010 Bitcoin’s creator Satoshi Nakamoto introduced a temporary 1MB limit as an anti-DDoS measure. The temporary measure from Satoshi Nakamoto was made clear three months later when Satoshi said the block size limit can be increased again by phasing it in when it’s needed (when the demand arises). When introducing Bitcoin on the cryptography mailing list in 2008, Satoshi said that scaling to Visa levels “would probably not seem like a big deal.”
What is the block size debate all about anyways?
The block size debate boils down to different sets of users who are trying to come to consensus on the best way to scale Bitcoin for growth and success. Scaling Bitcoin has actually been a topic of discussion since Bitcoin was first released in 2008; for example you can read how Satoshi Nakamoto was asked about scaling here and how he thought at the time it would be addressed. Fortunately Bitcoin has seen tremendous growth and by the year 2013, scaling Bitcoin had became a hot topic. For a run down on the history of scaling and how we got to where we are today, see the Block size limit debate history lesson post.
What is a hard fork?
A hard fork is when a block is broadcast under a new and different set of protocol rules which is accepted by nodes that have upgraded to support the new protocol. In this case, Bitcoin diverges from a single blockchain to two separate blockchains (a majority chain and a minority chain).
What is a soft fork?
A soft fork is when a block is broadcast under a new and different set of protocol rules, but the difference is that nodes don’t realize the rules have changed, and continue to accept blocks created by the newer nodes. Some argue that soft forks are bad because they trick old-unupdated nodes into believing transactions are valid, when they may not actually be valid. This can also be defined as coercion, as explained by Vitalik Buterin.
Doesn't it hurt decentralization if we increase the block size?
Some argue that by lifting the limit on transaction space, that the cost of validating transactions on individual nodes will increase to the point where people will not be able to run nodes individually, giving way to centralization. This is a false dilemma because at this time there is no proven metric to quantify decentralization; although it has been shown that the current level of decentralization will remain with or without a block size increase. It's a logical fallacy to believe that decentralization only exists when you have people all over the world running full nodes. The reality is that only people with the income to sustain running a full node (even at 1MB) will be doing it. So whether it's 1MB, 2MB, or 32MB, the costs of doing business is negligible for the people who can already do it. If the block size limit is removed, this will also allow for more users worldwide to use and transact introducing the likelihood of having more individual node operators. Decentralization is not a metric, it's a tool or direction. This is a good video describing the direction of how decentralization should look.
Additionally, the effects of increasing the block capacity beyond 1MB has been studied with results showing that up to 4MB is safe and will not hurt decentralization (Cornell paper, PDF). Other papers also show that no block size limit is safe (Peter Rizun, PDF). Lastly, through an informal survey among all top Bitcoin miners, many agreed that a block size increase between 2-4MB is acceptable.
What now?
Bitcoin is a fluid ever changing system. If you want to keep up with Bitcoin, we suggest that you subscribe to /btc and stay in the loop here, as well as other places to get a healthy dose of perspective from different sources. Also, check the sidebar for additional resources. Have more questions? Submit a post and ask your peers for help!
submitted by BitcoinXio to btc [link] [comments]

#PundiX Provides Recap of April 12 AMA with Zac Cheah, CEO #PundiXLabs

#PundiX Provides Recap of April 12 AMA with Zac Cheah, CEO #PundiXLabs

https://preview.redd.it/m0g557h3ses21.png?width=1366&format=png&auto=webp&s=7ed1595b3d46958b3cf86e5140e7f8f3769dc11e
Dear Pundians,
Thank you for participating in the AMA session with Pundi X founder and CEO Zac Cheah.
For those of you who may have missed it, the live recording of the AMA session held last on April 12 at 10:00 am GMT+8, tackling Q1 progress and addressing questions and concerns by the community members, can be viewed here:
https://youtu.be/PhHD3CwUyA8
You may also find a summary of the Q1 progress presentation as well as the Q&A below:

Pundi X Q1 2019 Highlights

  1. Pundi X ecosystem handled a total of 26,380 crypto transactions valued at 3.9 million in USD during the 1st quarter of 2019. Registered XWallet users have increased to 179,982 as of April 10. XPOS has been shipped to 30 countries.
(Correction: The 179,982 X Wallet users include both KYC verified and unverified users; and not all KYC verified users as mentioned in the video. Zac’s apology.)
Quarterly Transaction Summary
Distribution Map
  1. The custom XPASS cards are becoming popular among our XPOS distributors. Exchanges in Canada (iBank) and Africa (Bit2Big, DoshEx) have ordered 14,000 in total.
Distribution Partnerships
  1. XPOS has successfully received EU’s CE certification. FCC certification is under way.
XPOS Certification
  1. By integrating a collection feature, we are making XWallet a virtual mini-XPOS. Users can be part of the XPOS merchant network by becoming verified merchants from the XWallet app. Staking and conversion are also integrated into XWallet app and available for KYC verified users.
XPOS Handy, a more affordable version of XPOS, is now in production. 2,000 units will be produced. The team is also looking into expanding XPOS into traditional POS units platforms and has started working on one of the top two POS brands for integration.
Product Development Overview
  1. Due to the conversion, the token removal in 2019 will reflect the result of both NPXS / NPXSXEM utilization and NPXS / NPXSXEM conversion to FX. For example, the amount of Q1 token removal will be announced in the first week of May 2019 and the execution will take place in the second week of May.
2019 Token Removal Schedule

Below is a summary of the Q&A with community members.

On XPOS

  • Q: How many live working XPOS are there in the world right now? Understand the plan was 100,000 in 2021. But recent news is only talking about someone maybe buying 1000 in 2021.
  • Is the delay in scaling XPOS because of the licenses which Pundi X doesn’t have yet? If yes, when can we expect it to be approved or denied?
Zac: The pick up rate during Q1 isn’t moving as fast partly due to the bear market. Another contributing factor of which some of you may be aware, is that we have been working on obtaining the relevant FCC and CE certifications for the XPOS as it’s a requirement by most governments.
We are pleased to announce that the XPOS has been officially certified. It’s in fact the first blockchain based POS device that has been given the CE certificate. And with this, we will begin to accelerate to get the XPOS compliant with the different markets and increase the activation rate of the XPOS.
For example, in Dubai, we are working with the local credit bureau to apply for an approval with the local regulators using our CE Certificate as the base document. The same goes for Korea’s KC certification.
So yes, a lot of things have been moving behind the scenes and one thing that is clear is whatever we do, it is to play the long-term game. Hence, we had to make sure that we have all the relevant required certification for the XPOS before we take it to the next level of deployment.
  • Q: How many XPOS transactions (by coins) have been done so far (since the start)?
Zac: The XPOS and XWallet have handled a total of $3.9M USD in Q1 outbound transaction.
  • Q: Will there be a major partnership such as with Uber or Amazon to use the XPOS? Any strong partnerships in the works for the XPOS?Any upcoming big deals for the xpos ? Like Starbucks, etc? And did Pundi X ever get in contact with Kroger?
Zac: As always, similar to other business deals, due to confidentiality agreements, we do not comment on major partnerships until it’s firmed up or announced first by our counterparties. One thing for sure, we are working hard to engage established global enterprises (especially those) with a large distribution network and footprint.
In addition to that, we are exploring the expansion of our XPOS solution footprint by integrating the XPOS into one of the Top 2 point-of-sale manufacturers. We will share the process and details once we have completed the testing.
  • Q: Any updates on a Pundi X collaboration with Dubai government?
Zac: We are in the process of getting the XPOS certified with the local government authorities. And now that the XPOS has the CE certificate, it will accelerate the approval process in Dubai.
  • Q: When is the XPOS capable of handling credit card payments?
Zac: We have reached out to various parties that can provide and activate these services and that includes meeting the CEO of MasterCard, Mr Ajay, in person. He has seen our XPOS and from what I could tell, he was impressed.
  • Q: When will you add XRP to XPOS?
Zac: The XPOS is a digital currency-neutral device. When there’s enough demand and a real need from an organization or company, we would not hesitate to add it to our XPOS ecosystem.
  • Q: When will the XPOS have WePay, AliPay, Samsung and Apple pay?
Zac: XPOS itself is hardware-ready for these payment methods. To activate these services, we will be required to comply with the local regulations in different jurisdictions and work with the providers of payment gateways.
  • Q: Can we get a merchant map, similar to bitcoin ATMs?
Zac: The team is working on this. In the first phase, we will have a list of the featured merchants. We are targeting to have a “lite” version of this “featured merchant” map ready by end-May. We are finalizing the name but you can call it the X-MAP where you can locate your favourite XPOS merchants or X-Merchants.
  • Q: Does Pundi X have plans to support stable coins?
Zac: Our XPOS merchants already have access to the stable coin feature, but for regular consumers, the option to have stable coin is not available yet. However we foresee turning on this feature soon.
  • Q: China and Thailand should be supplied with XPOS via some partner. The news was big but that was over a year ago. What’s the status in these two key markets?
Zac: China’s stance against Cryptocurrency is still a no-go. The news that was mentioned a year ago refers to our license distributor called XPOT (they had a kick off event a year ago where Mr. Prachuab Chaiyasan, Former Minister of Foreign Affairs of Thailand was one of the attendees). XPOT is our licensed distributor and I believe they are still in discussion with the local governments and pending the environment to change.
Regarding Thailand, we are in talks; with possible partnerships in this market. Please stay tuned.
  • Q: What are the current legal issues Pundi X is facing in USA, Germany and Canada?
Zac: Regulatory bodies are still ambiguous about their policies toward cryptocurrencies. As previously mentioned, we will continue to monitor the situation in the different markets and be compliant so that as soon as there is clarity in the market, we will be in a prime position to move in.
  • Q: When is Pundi X expanding to India? I was at your Mumbai Meetup but we are still waiting
Zac: We are awaiting RBI’s permission too, as crypto is still frowned upon by the local authorities.
  • Q: A long time before the public token sale, at the pre-sale stage, Pundi X said they have a working product and simply needs the funding to pay for a huge production and then give out XPOS devices for free. The cost per device is somehow USD 200–300, depending on order volume and a USD 3,000 investment would yield a minimum of 10 XPOS Devices. After enough funds raised, the token sale got capped and more funds raised. Then the XPOS got remodeled and went for sale. What happened with the initial idea of giving 10,000+ devices out for free?
Zac: As previously mentioned, pre-public token sale participants who purchased > 30 ETH are entitled to a free XPOS. If you haven’t claimed yours, please reach out to us.
Also in the pipeline, we are working with some non-profit organizations to provide free XPOS for their usage.

On the XWallet

  • Q: Will you add a stable coin to XWallet?
Zac: Yes, we will. Someone has asked the same thing about XPOS. It will likely be added around the same time for XPOS, XWallet and XPASS.
  • Q: Can we add the bank transfers to XWallet? Basically to liquidate on the XWallet for sending money to my bank account?
Zac: This is my personal favorite feature to have and it’s on my wishlist. In order to support fiat, we need to have a Payment Service License / E-Money License / Stored-value license in a jurisdiction that supports a particular fiat. For example, if it’s EURO, we will need to apply for a license or lease it via a partner for this to work.
We are definitely exploring the different possibilities but we are unable to elaborate more on when, or if it is happening, as this also requires more talks with the different local jurisdictions.
Q: Turkish holders would like to ask when can we partner with master / visa and integrate with XWallet?
Zac: As mentioned earlier, we have reached out to various parties that might be able to activate these services.

On Q3 to Q4 Plans

  • Q: What’s the plan for Q3 and Q4 for this year?
Zac: There are tons of things we are working on for Q3 and Q4.I will broadly separate it into:
Developer ecosystem — The developer ecosystem allows traditional and tech companies to onboard themselves into the XPOS and XWallet ecosystem, such as listing of their custom tokens, advertising etc. These services will all require the usage of NPXS and NPXSXEM tokens.
Partnerships — We are likely to partner with incumbent retail chain stores payment companies, incumbent POS companies that have deep distribution network to help expand the reach of XPOS, XWallet, XPASS, etc.
Governmental level efforts — We started off with Dubai and since then, several other governments have shown interest. We see this as an opportune time to engage forward-thinking governments to build a blockchain ecosystem in their city and country.
Our Team: we will continue to invest and grow our R&D team capabilities as they represent the heart of Pundi X. If any engineer or developer is keen to help us to scale, please get in touch with us. We are actually looking for engineers as I speak.

On NPXS and Token Removal

  • Q: What is the quarterly token removal from the NPXS usage of the XPOS and the burned amount for Q1 2019.
Zac: Good question. Some holders may be aware that token removal includes the result from the conversion. The amount of Q1 token removal will be announced in the 1st week of May and we will execute the removal in the 2ndweek of May.
  • Q: Pundi X has mentioned a monthly coin burn and a monthly buy back. Why hasn’t this happened yet?
Zac: It is not monthly. We are doing a quarterly token removal.
  • Q: People feel that the current token burn isn’t as transparent as many wish. What can be done to improve this process and make it more transparent? The biggest upset was after the ULTRA festival where Pundi X just wrote “we ain’t allowed to talk numbers.”Could there be a daily or weekly ticker? Is that possible?
Zac: That’s a good suggestion. While a daily ticker might be challenging, we certainly can try exploring incorporating a ticker update towards all token removal or scheduled for the next one.
  • Q: Zac, you have mentioned previously that someone was trading against NPXS. What did you guys do about this problem?
Zac: There are trading teams, market makers, financial institutions that profit from the drop and rise of token prices in the crypto market and it’s not something that is unique to NPXS. In fact, the traditional stock markets have similar challenges as well. We have taken the “the best defense is a good offense” strategy which is to continue to strengthen our tokens; such as create more use cases, drive more adoption and more distribution to ensure our tokens are well positioned and stronger than ever.
  • Q: Why do you not do any great marketing and generate publicity for NPXS, e.g., advertise on television stations in major and in different countries? I generally see marketing as very important to the company’s success. And I hope to see real partnerships, not just with small shops or restaurants.
Zac: We rarely engage in paid partnerships as it doesn’t necessarily produce the best ROI in terms of investment and in this market condition, we believe in being financially prudent. Being in a decentralized environment, we consider ourselves as a community-driven company.The impact of organic press coverage driven by our community is always stronger. We do want to be seen on all major news channels and we will do that via “thought leadership brand building.” As a testament to our growing reputation, recently, we were invited to speak at the Fintech Ideas Festival event and be on the same stage as the senior executives and CEOs of Wells Fargo, COO and CTO of Bank of America and other large institutions. We see this as the right step forward in growing our brand appeal to the masses.

On the QEX Fund

  • Q: Any update on the QEX fund?
Zac: The QEX fund is led by Vic Tham,CEO and Fen Chao Yong, COO, at Quantum Energy Asset Management, also known as QEAM. Other than being the CEO of QEAM, Vic is also Pundi X’s Chief Investment Officer.
From what we know, they are in the midst of raising funds, book building, analyzing potential projects & companies and strengthening the portfolio for QEX. It’s an ongoing effort for this year and a very exciting one. We are extremely excited to see potential breakthrough projects that could benefit our ecosystem. And if anyone has questions or interests, please do reach out to Vic Tham and his team at QEAM.

On Function X

  • Q: What is the update on devs program for the Function X ecosystem?
Zac: Many keen developers are eagerly waiting for it, and I know Billy who has posted this question is one of them. We are working on it right now, we can’t commit on the dates yet but developer support is a big part of our ecosystem. We are working tirelessly, and sometimes “sleeplessly” to get this out.
  • Q: Did you use “investors”/ token holders funds to develop Function X? And instead of giving the 65% FX tokens to NPXS and NPXSXEM holders, you are getting them to choose between NPXS/NPXSXEM and FX token?
Zac: 65% of the FX tokens from Token Generation Event (TGE) is already allocated for NPXS / NPXSXEM token holders, via staking and/or conversion. There are two separate projects with teams working on it. For the XPOS ecosystem to flourish, it requires a more scalable platform/solution which is the Function X ecosystem.
The Function X foundation will be announced in Q3 and hopefully it will be a pleasant surprise. We will have a solid team to grow the Function X ecosystem.
  • Q: Will Pundi X be less focused on NPXS once FX goes live?
Zac: No, we think it’s mutually beneficial. If I may use an analogy, it’s like Google Search and Android, one product will lift the other up. The other example would be salt and pepper. When used in combination, it will drastically improve the taste of any particular dish.
  • Q: What is the relationship between the future f(x) coin and the future NPXSFX token? Is the former used in the FX ecosystem (XPhones) and the latter used in the XPOS ecosystem? If so, would buying something using the XPhone going to burn FX coins, NPXSFX tokens, both or none?
Zac: Think of the role of f(x) coin like how ETH is. Everything or any service that’s taking place in the Function X ecosystem will require the f(x) coin.
For NPXS which will be ported over to the Function X blockchain once the Function X mainnet is up and running, its utility will remain the same. Any payment-relevant services or activities on the Function X blockchain will require NPXS, which on the Function X mainnet will be tentatively called NPXSFX.
  • Q: For FX Tokens, the lock up of 1 year is too long for us to wait. Can we change the option to shorten the duration?
Zac: The mechanism in place has been designed for the long term, so unfortunately, we can’t change the option. Users have the choice whether to convert his NPXS and NPXSXEM, or not, into f(x) coin, if a user chooses to convert he will receive 12% immediately and 8% each month for the next 11 months.
  • Q: Will F(x) be available to those who couldn’t stake or convert? Will it be before the staking period end or after? When will F(x) be available to purchase on an exchange for those in countries who were not allowed to stake? Will it be during the staking period or after?
Zac: Soon we hope. As per our policy, we are unable to comment on listing dates, but with our established relationships with exchanges, we do hope it will be quick.
  • Q: We were all impressed by the Uber Dapp demos running on F(x), but these days Tron and EOS are getting a lot of press about Dapps too. What advantages will F(x) have over those platforms?
Zac: Each platform will have its own advantages, we welcome the competition and hope that more popular apps such as the decentralized Uber app can be conceived from Function X.
  • Q: Why is there no cap on f(x) tokens? When will you explain how the tokenomics will work?
Zac: I would encourage all to have a look at our concept paper on functionx.io and the Medium blog post as the details are explained thoroughly there.
  • Q: Have you already secured deals with other companies like Sony, Samsung, etc with the Function X OS to build other blockchain phones? Or do you plan to keep the Function X software to just the 5000 phone you already made?
Zac: The 5,000 XPhones serves as a proof-of-concept, for manufacturers and developers to have a test drive. We want to partner with hardware/smartphone companies and telcos to build their own version of the blockchain phones with Function X. And we are still working hard to engage with the companies to push for future blockchain phones and strengthen our Function X ecosystem.
  • Q: Will the XPhone work as a mobile point-of-sale (mPOS) device like the XPOS Handy?
Zac: The XPhone comes preinstalled with the XWallet and with that, it can double up as a lite version of the XPOS with QR code and NFC Support.
  • Q: When will XPOS Handy be ready?
Zac: XPOS Handy will be available in the coming weeks.
submitted by crypt0hodl1 to PundiX [link] [comments]

u/guysir was getting downvoted in this thread for constantly asking "Can you explain why someone would have the desire for Bitcoin to die?" So I put together a couple of pointers to help him (and others like him) to wake up and smell the coffee.

TL;DR:
If you just want a 3-minute (NSFW) video which explains why certain rich assholes don't want you to have nice things, here goes:
George Carlin - The big club (NSFW!!!)
https://www.youtube.com/watch?v=cKUaqFzZLxU
Reference:
u/guysir has been asking a lot of questions like this:
Can you explain why [they] would have the desire for Bitcoin to die?
Edit: I like how I'm being downvoted for simply asking a question.
~ u/guysir
https://np.reddit.com/btc/comments/6qjw0o/small_blockers_want_even_smaller_blocks_o_o/dkxz7t3/?context=2
etc etc etc...
Below are some introductory lessons to help u/guysir grow up and face the reality of how the world actually works.
Lesson 1: Money doesn't grow on trees. Nor does it get mined from the ground very much anymore, as gold and silver. (Correction because I was half-asleep when I wrote that: Gold and silver still do get mined quite a bit of course - but most people don't use them day-to-day as money.) And gold and silver prices are probably heavily manipulated (suppressed) these days anyways - in order to prevent the value of fiat currencies (such as the USD, EUR, GBP, YEN) from collapsing.
So, where does money come from, in the modern world?
Bankers print unlimited supplies of money out of thin air (which they then give to their buddies).
That may sound somewhat surprising to someone who hasn't ever sat down and examined how the world actually works - but basically, it's the reality we do live in.
Exercise 1: Put on your thinking cap now for 30 seconds and try to imagine what your life would be like if you could "print money out of thin air" (and give it to your buddies).
OK, your 30 seconds are up.
Hopefully you realized that being able to "print money out of thin air" (and give it to your buddies) would give you immense power - correct?
This was just a simple exercise, and of course the politics and economics of the world as a whole are much more complicated - but hopefully at this point you have managed to finally grasp one basic concept:
The ability to print money (and give it to your buddies) confers great power.
So, as the saying goes: "Money makes the world go around."
And some lucky people (bankers) have arrogated to themselves the right to print money (which they then give to their buddies).
These buddies of theirs constitute a kind of exclusive club of mega-rich people who control all the essentials which you need to survive: mainly housing, education, healthcare.
Notice how the prices of these essentials are always going through the roof - while your salary stays pretty much stagnant.
And notice how you never have enough cash to buy these things outright using the little bit of cash money that you actually have.
So these people also control one other thing you need in life - credit.
Credit is actually just "money that you have to buy" (at a gigantic markup, called "interest") from those same mega-rich people in that "club", who happen to be lucky enough to be buddies with the bankers who "print up money out of thin air".
It's a very exclusive club, which runs the world - and you ain't in it.
Extracurricular Activity 1: Watch this short video by George Carlin for a vivid explanation of this "club" which you ain't in:
George Carlin - The big club (NSFW!!!)
https://www.youtube.com/watch?v=cKUaqFzZLxU
Lesson 2: Bitcoin is "peer-to-peer electronic cash". One of the most important aspects of it is that there will only be 21 million bitcoins (or 21 trillion "bits" - where there are a million "bits" in 1 bitcoin).
Many people believe that one of the main reasons Satoshi designed Bitcoin this way (with a cap of 21 million bitcoins) was to take away the power of the bankers and their buddies to keep running the world by printing up money.
Exercise 2: Read as much as you can of the Bitcoin whitepaper, and the Bitcoin wiki. Since this is about economics, you can skip over the technical stuff about how this whole thing was programmed in C++ - and just focus on how it works at the level of economics.
https://en.bitcoin.it/wiki/Main_Page
https://www.bitcoin.com/bitcoin.pdf
Another good site to read about the economic aspects of Bitcoin is Nakamoto Institute:
http://nakamotoinstitute.org/
Again, you can skip the articles about C++ programming - and just focus on articles dealing with the economic (and social, and political) aspects of having a form of money which an exclusive club of rich bankers and their buddies can't simply print up and use to control your life.
Extracurricular Activity 2: Read (or watch a video) about The Creature from Jekyll Island or about the Federal Reserve - which explains how the current banking system in a powerful country (the USA) really works:
https://duckduckgo.com/?q=creature+jekyll+island&t=hb&ia=web
https://www.youtube.com/results?search_query=crature+from+jekyll+island
https://www.youtube.com/results?search_query=federal+reserve+conspiracy
Or, alternatively, read up on topics like the petrodollar, quantitative easing, fractional reserve, ZIRP and NIRP, the Austrian school of economics - to start understanding some of the more advanced topics of how a certain exclusive club of bankers arrogate to themselves the right to print money out of thin air (which they then hand out to their buddies, who then use this power to control your access to all the expensive essentials in life).
Yes, there's a lot of tinfoil or Illuminati stuff in there which could be just delusional paranoia - but there's also a lot of cold hard facts about where money comes from. And it doesn't come from trees - or out of the ground - instead, it just comes from bankers typing in numbers on a keyboard, and then handing out this freshly-printed money to their friends - who then use this "fiat" to control you.
Lesson 3: Do a search on this subreddit for "AXA" to learn more about this one particular company.
https://np.reddit.com/btc/search?q=axa&restrict_sr=on&sort=relevance&t=all
You will see that AXA isn't just any old insurance company or financial firm - it actually happens to be the second-most-connected financial company in the world.
Who owns the world? (1) Barclays, (2) AXA, (3) State Street Bank. (Infographic in German - but you can understand it without knowing much German: "Wem gehört die Welt?" = "Who owns the world?") AXA is the #2 company with the most economic poweconnections in the world. And AXA owns Blockstream.
https://np.reddit.com/btc/comments/5btu02/who_owns_the_world_1_barclays_2_axa_3_state/
In addition, AXA is heavily involved in derivatives - in fact, it is the insurance company most heavily involved with derivatives:
If Bitcoin becomes a major currency, then tens of trillions of dollars on the "legacy ledger of fantasy fiat" will evaporate, destroying AXA, whose CEO is head of the Bilderbergers. This is the real reason why AXA bought Blockstream: to artificially suppress Bitcoin volume and price with 1MB blocks.
https://np.reddit.com/btc/comments/4r2pw5/if_bitcoin_becomes_a_major_currency_then_tens_of/?ref=search_posts
Lesson 4: How do debt-based fiat currencies (and derivatives) work? And how could companies that depend on such "assets" (such as AXA) be negatively affected by Bitcoin?
Derivatives are basically the total opposite of Bitcoin, when it comes to something called "counterparty risk" .
Counterparty risk is the possibility that you might not get what's owed to you - because "your money" isn't actually in your hands, it's in someone else's hands, and all you have is a "claim" on what they're holding in their hands: in other words, they have a debt to you (a promise to pay you) - and you only get "your" money if that other "counterparty" actually pays their debt to you, or makes good on their promise to pay you.
Compare that to Bitcoin - which is basically one of the only "counterparty-free" assets in the world. If you have a bitcoin (ie, if you control your own private key), then you're not dependent on anybody to pay you. You already are holding your own "cash".
You've probably seen company balance sheets, with Assets (including Receivables) and Liabilities (including Payables) and Income and Expenses and Equity. To calculate how much the company "has", you just add up all the positive stuff (Assets and Receivables), then subtract all the negative stuff (Liabilities and Payables), and the difference is what the company "has": its Equity. (The Income and Expense accounts are just temporary accounts used for incoming and outgoing cash flows.) But a lot of what the company "has" also could involve "counterparties" - other entities who (in the future) will (hopefully) come through and pay what they promised to pay.
So there is risk here. Risk of not getting paid. Risk of breach of contract. Risk of credit default. Because most of these "assets" are not "counterparty-free". Your "net worth" on paper might be just that: on paper. In reality (if the people who promised to pay you end up never paying you), then your "net worth" could actually turn out to be much less than what it says "on paper".
Derivatives are just another layer built on top of that: they're basically "bets" about whether someone is actually going to get paid or not. (In fact, one of the most important types of derivatives are Credit Default Swaps - or CDOs - which are used to place "bets" on whether someone is going to default on their debts.)
So, a company like AXA (which is heavily involved in derivativs) is technically "rich" - but only "on paper". In reality, like most major financial firms, if you just looked at what they actually have "on hand", they'd probably literally be bankrupt.
This may sound shocking, but many economic experts have stated that a majority of the major financial firms around the world (including most major banks, and most major insurance firms such as AXA) are actually bankrupt - if you just look at the reality of what they actually have "on hand" (and not the "fantasy" of what they have "on paper").
So, in addition to the ability to print money out of thin air, there is this other strange aspect to the world's current financial system: many companies (mainly finance companies) would be considered bankrupt if viewed strictly in terms of what they have "on hand" ... but they're are able to parade around acting like they're mega-rich, based on what they have "on paper" (most of which is debt-based or derivatives-based).
Bitcoin coin is a major threat to the existing power system based on debt and dervatives - which AXA is at the absolute center of
So, the people who are supposedly "powerful", who run our world - their power comes from two sources:
  • Their ability to print up money out of thin air;
  • Debt-based and derivatives-based numbers on paper.
Bitcoin threatens the first item above.
And the global financial crisis which started in 2008 threatens the second item above.
In fact, Bitcoin itself also probably threatens the second item above too.
This is because as Bitcoin becomes worth more and more, those debt-based and derivatives-based numbers on paper become worth less and less, in relative terms.
And if the current financial crisis becomes acute again (like it did when another "systemically important" insurance company / derivatives "playa" went under: AIG)...
...then a lot of those numbers on balance sheets will get wiped out, written off - because people aren't paying up
...and so companies (including companies like AXA - in fact especially companies like AXA) might go belly up
...because they don't actually have any real money "on hand" - all they have is debt-based and derivatives-based numbers on paper.
So nearly all of the world's major banks and insurance companies - especially AXA - are on a mad, mad merry-go-round of debt and derivatives.
They're like someone with no cash, living on an almost-maxxed-out credit card - desperately hoping that the banks will lend give them more money (a/k/a "credit" - a/k/a debt), and terrified that the counterparties who owe them money will actually turn out to be in the same boat that they are: ie, bankrupt, deadbeats.
It's actually less like a merry-go-round, and more like a game of musical chairs: and nearly all the major banks and financial companies are terrified of what will happen if/when the music stops, and they're not able to scramble to find a chair - especially AXA.
AXA is the "second-most-connected" financial company in the world
AXA also has more derivatives than any other insurance company in the world - which means they're basically flat-broke, totally dependent on their "counterparties" in this "web of debt".
And derivatives aren't just some minor part of the world financial system. Actually, there is currently around 1.2 quadrillion dollars in derivatives - so derivatives are by far the biggest part of the world financial system.
Here's an infographic to give you an idea:
http://money.visualcapitalist.com/all-of-the-worlds-money-and-markets-in-one-visualization/
You'll notice that Bitcoin is also included on that infographic.
Maybe you look at it and think: Well, Bitcoin is so small, why would they be worried about it?
But size isn't everything.
Remember that (unlike nearly every other asset on that infographic) - bitcoin is "counterparty-free". (Also gold and silver are "counterparty-free".)
So gold, silver and bitcoin are a lot more "independent" than all the other so-called "assets" on that infographic. In fact, it wouldn't be much of a stretch to say that gold, silver and bitcoin are the only totally real assets on that infographic - and the rest of those assets are to some degree fake (since they could evaporate at any minute - unlike gold, silver and bitcoin, where your ownership is totally guaranteed).
Also, due to the "law of reversion to mean", something small on that infographic basically has only one direction it can go: towards getting bigger. We say that Bitcoin has a lot of "upside" for growth.
And something gigantic on that infographic also has one direction it can go: towards getting smaller. We say that derivatives have a lot of downside - derivatives might be in a bubble, or due for a crash.
And one way that could easily happen would be for billions of dollars (or trillions of dollars) to flow into Bitcoin - while flowing out of the other asset classes on that infographic.
Of course, in order for trillions of dollars to flow into Bitcoin...
We're gonna need a bigger blocksize.
And that's actually basically all we'd probably need - the software already runs fine, and (despite the propaganda from Blockstream and r\bitcoin), the network / hardware / infrastructure / bandwidth can already handle blocksizes of 4MB-8MB - so with things like Moore's law working in tandem with Metcalfe's law, it is quite reaonable to assume that in 8-10 years (after the next two Bitcoin "halvings") it is quite possible for 1 bitcoin to be worth 1 million US Dollars.
I did some rough growth projections here showing how feasible this actually is:
Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.542 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited
https://np.reddit.com/btc/comments/5uljaf/bitcoin_original_reinstate_satoshis_original_32mb/
So Bitcoin (with bigger blocks - not under the control of Blockstream or AXA) could be a serious competitor - or a threat - or a safe haven - or an "inversely correlated" asset class - versus all the other asset classes on that infographic.
Bitcoin is an alternative
Bitcoin is an alternative - an option people might turn to, if they decide to abandon the other options on that infographic.
So AXA - whose wealth and power depends on heavily on the derivatives shown in that infographic - might want to either see Bitcoin fail, or suppress Bitcoin, or eliminate it as an alternative, or simply control it somehow - just to make sure it doesn't "eat their lunch".
Remember that one of the tactics used by oppressors is to spread propaganda to brainwash you into giving up hope and believing that "There Is No Alternative".
Bitcoin is an alternative to the current messed-up financial system (which helps prop up bankrupt companies like AXA) - so for that reason alone it's enough for a company like AXA to want to eliminate or suppress or at least control Bitcoin. Not just by buying up some bitcoins - but by paying the devs who write the code that determines the blocksize which ultimately affects the price.
"Bitcoin users unaffected."
If/when the music stops in the game of debt- and derivatives-backed musical chairs that makes the world go 'round, some of the "systemically important" financial firms will be exposed as being bankrupt - and it is very, very likely that one of those firms could be AXA (just like AIG in 2008).
In all honesty, I have to admit that it's still not totally clear to me (or maybe to anyone) precisely how Bitcoin will ultimately impact this whole "web of debt". After all, this is the first time the world has ever had a digital, counterparty-free asset like Bitcoin. (Gold and silver are also counterparty-free - but they're not digital, so it's harder to store them and move them around.)
But one basic fact is certain: Bitcoin is really not a part of this whole "web of debt". Bitcoin stands quite outside this whole "web of debt". Bitcoin is "inversely correlated" to this whole "web of debt".
Bitcoin is an alternative.
Voice and Exit
If you feel like you don't have a voice / vote in the system, it's good to know that you can exit the system.
https://en.wikipedia.org/wiki/Exit,_Voice,_and_Loyalty
Balaji Srinivasan (founder of 21.co) on Voice and Exit
https://www.youtube.com/watch?v=cOubCHLXT6A
Can we ever really know what AXA might be up to with Bitcoin?
Probably not - because it is unlikely that they would ever tell us.
But, we can make some rational guesses.
On some level, a lot of people whose wealth and power come from this whole "web of debt" are probably just reasoning as follows:
  • If/when this whole "web of debt" goes down, Bitcoin goes up. (This is already pretty much an established fact: money flees to "safe havens" like gold, silver and bitcoin when "traditional" investments go down.)
  • If/when Bitcoin goes up, then the importance and power (and credibility) of this whole "web of debt" goes down. (This makes sense: being counterparty-free, bitcoin is obviously a safer investment - and so it's worth more - and so all those other debt-based and derivatives-based investments become worth less, as bitcoin becomes worth more.)
  • If Bitcoin goes down (or totally goes away), then this whole "web of debt" will probably be able to hang on for a while longer. (This also be more of just just a conjecture - but it seems quite reasonable.)
Maybe they just want to keep you trapped in their system - by destroying (or suppressing) the alternative (Bitcoin) which gives you a chance to exit their system.
Some more posts about AXA and what they might be up to:
Anyways, there's a bunch of articles on btc about AXA and what they might be up to with Bitcoin:
https://np.reddit.com/btc/search?q=axa&restrict_sr=on
Finally, if you need some extra help dispelling the quaint notion that the people who run the world are honest and transparent and helpful, then the following two (admittedly highly conjectural) posts might help spell things out a bit more explicitly for you:
Blockstream may be just another Embrace-Extend-Extinguish strategy.
https://np.reddit.com/btc/comments/3y8o9c/is_the_real_power_behind_blockstream_straussian/
The owners of Blockstream are spending $75 million to do a "controlled demolition" of Bitcoin by manipulating the Core devs & the Chinese miners. This is cheap compared to the $ trillions spent on the wars on Iraq & Libya - who also defied the Fed / PetroDollar / BIS private central banking cartel.
https://np.reddit.com/btc/comments/48vhn0/the_owners_of_blockstream_are_spending_75_million/
Sorry I don't have any more time right now to "school" you further on this subject.
Ideally, learning should be a self-driven process anyways - once someone helps you get started.
Some advice
Finally, if I may give you some parting advice.
If you want to be truly respected on these forums, you're probably going to have to stop going around acting like such a doe-eyed innocent little pollyanna.
It is assumed that most people here already pretty much know the harsh reality of how the world works, and are trying to use Bitcoin as a way to not get screwed over by this harsh reality.
So some of the more informed people around here might not have much patience with you (or trust in you) if you don't even understand the basic principles outlined above, namely:
  1. Our planet is being run by an exclusive club of rich assholes who have immense power, because we "allow" them to print out money (which they then hand out to their buddies, not to us - basically enslaving us).
  2. Bitcoin was designed (many believe) to help fix this dire situation.
  3. The ancien régime (those people who up till now who have been running the world, due to their ability to print money) might not like Bitcoin for this reason, and might try to do something to stop it - and they might not tell you why they're doing it - and they might not even tell you that they are doing it in the first place!
Sorry to be such a curmudgeon, but pollyannas like you tend to get on my nerves after a while - not least because it seems to me that one of the factors which allows those rich assholes to continue to stay in power and run the world is because so many uninformed credulous people like you either can't or won't just wake up and open your goddamn eyes and see how you're getting fucked over by this whole "web of debt" based around that exclusive "club" of rich assholes who get free money which the bankers are simply printing up out of thin air.
So, 99% of people in the world are living lives of quiet desperation and oppression, becoming poorer and poorer - while the rich keep getting richer and richer (with all that money they keep printing out of thin air - which by the way, if you do the math, ends up making your money worth less) - and now there are finally some serious attempts at revolution or change afoot, to try to fix some of this mess - and you've just wandered in to a meeting where some of these people struggling for change are making plans, and you basically keep going around asking "What are you guys so worked up about?"
Maybe if you also realized that you are saying the exact same thing that the oppressors are always saying (basically some variation of "Nothing to see here, move on!") - then maybe that will provide another hint to you as to why some people have been less-than-totally-welcoming of your non-stop naïve-sounding questions.
Every subreddit has a topic - plus certain assumptions
For comparison: Would you wander around on a subreddit about fitness or weightlifting constantly asking: "Why do you want to get in shape?"? (Or maybe here's an even better comparison: Would you wander around on a subreddit for some oppressed group, and keep asking "Why would anyone be oppressing you?"?)
There are certain "givens" which are assumed on a subreddit - and one of the "givens" for a lot of people on this subreddit is that the current monetary regime running the world is not working for most people (or: it is oppressing most people), and so we need something better. (Also another one of the "givens" is that r\bitcoin is censoring everyone's posts - and that Blockstream is damaging Bitcoin.)
Nobody is forcing you to get into fitness or weightlifting - and nobody is forcing you to get into Bitcoin. Maybe you think your physique is already fine the way it is, so you don't see the point of fitness or bodybuilding - and maybe you think that VISA and PayPal and JPMorganChase and Wells Fargo and the Fed and the ECB or whatever are fine for you, so you don't see the point of Bitcoin. (Or maybe you were born a millionaire so you don't feel financially oppressed.) You're free to get involved or not get involved. Most people who are here are involved for some particular reason. And whatever that reason may be, it usually tends to involve using Bitcoin as it was designed in the whitepaper - in order to improve their lives. And part of this also means actually using Bitcoin as it was designed in the whitepaper - free of any interference from companies like Blockstream - or their financial backers AXA - who might not really want us to be able to use Bitcoin the way it was designed in the whitepaper.
In particular, it has been quite obvious for years to people on btc that the actions of r\bitcoin and Blockstream have been damaging to Bitcoin (whatever their actual motives may be - which we may ultimately never even be able to find out since they're probably never going to actually tell us) - but meanwhile we've had to fight tooth and nail to get a vast brainwashed army of pollyannas - a lot of whom quite frankly sound a lot like you - to understand that Satoshi did not design Bitcoin to work like this:
Every Core supporter wants to run their own node. Apparently to help banks settle transactions, instead of their own transactions.
https://np.reddit.com/btc/comments/6qgy7s/every_core_supporter_wants_to_run_their_own_node/
Satoshi designed Bitcoin to work like this:
Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.542 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited
https://np.reddit.com/btc/comments/5uljaf/bitcoin_original_reinstate_satoshis_original_32mb/
We all have our own reasons for being here.
So hopefully that gives you some background regarding why many people are here on this subreddit in the first place, and what some of our goals and desires are.
We want to use Bitcoin - and we don't want the bankers funding Blockstream or the censors silencing r\bitcoin to get in our way.
We understand that Bitcoin is a disruptive technology which could be liberating and empowering for many of us in various ways.
We are realistic about the fact (ie, we take it as a "given") that certain powerful individuals or institutions might not want us to be empowered and liberated like this (maybe because their power depends on our enslavement).
And so we allow for the possibility that certain powerful individuals or institutions might be trying to stop us - and that they might not even have the courtesy to inform us that they are trying to stop us.
I should of course clarify that these are ultimately really only my reasons for being on this forum.
Other people may have their own reasons - some the same as me, and some different from me - and so I can only speak for myself.
It is important for all of us - me, you and everyone else - to have a clear understanding of why we are here.
In particular, if you - u/guysir - ever felt like giving people a brief explanation of why you are here - then that might help people understand why you keep asking the kind of questions you keep asking.
Why people are rejecting Blockstream's heavily modified version of Bitcoin - and sticking with Satoshi's original version of Bitcoin (now called Bitcoin Cash or BCC)
The above reasons are why many of us will not use AXA-owned Blockstream's Bitcoin.
We want to continue using Satoshi's original Bitcoin, now being renamed Bitcoin Cash (ticker: BCC, or BCH) - because we want to continue to enjoy the benefits of:
submitted by ydtm to btc [link] [comments]

DigitalBits: A Trading Layer For Digital Assets

DigitalBits: A Trading Layer For Digital Assets
https://preview.redd.it/f5zzh65x01r21.jpg?width=360&format=pjpg&auto=webp&s=803c12325122022b6ab00bb57099063286a866c4

Introduction

Today, people dont appreciate the vision for cryptocurrency around the world but in the year 2017 Blockchain has become a target in fintech, and government fields is now a stragegy for more customers and more in-depth interest for its possible applications in different industries and business areas, they have also impacted on digital platforms which are thesame for the establishment of a comprehensive digital strategy for every company and every organizations. A digital platform needs a strong structure in order to facilitates its features and usabilities.
Presently, cryptocurrency market has a serious challenges in its process. Ethereum and Bitcoin prices is at a very low price and transaction processing times remain low, mining rewards are falling also and idea solutions for the issues of scaling and energy inefficiency are still far from implementation. This growth and development go against the established expectation that the economy is about to go through a fundamental shift, becoming more decentralized.

About DigitalBits

The DigitalBits can therefore be seen as a network that helps in collection of connected DigitalBit cores run by various individuals and enterprise across the globe. Examples of the DigitalBits core add reliability to the overall network. However, the digitalbits might agree to have a Frontier server for communication in order to be able to have access to the DigitalBits Network.
The Digitalbits network remain reliable and safe through its distributed nature. All these DigitalBit cores within the network actually choose on sets of transactions. Each transaction on the network costs a small fee of 100 nibbs (0.00001 XDB). This fee helps to prevent bad actors from spamming the network. Users can trade these various digital tokens (e.g. token A for token B) directly on-chain along with the blockchain’s native digital asset called “digitalbits” or XDB.
The decentralized DigitalBits Network as nothing to do with centralized middlemen in order to be able impose excessive fees. It is clearly stated that transfers will only take some few seconds and require only a nominal fee. The DigitalBits Foundation also maintains archive servers with live backups of the current state in the network in order to help facilitate a new DigitalBits cores to come in sync with the current status of the network.

Features of DigitalBits

The DitalBits is built: The developed Blockchain procedure can support the high throughput, transfer and online transactions in its process.
The DigitalBits is Liquid: Lots of assets are transferred (up to Five steps apart) in order to help provide higher and better liquidity for tokens even if no direct market exists.
Integrated availability: Integrate with existing consumer applications to direct new users to the blockchain ecosystem that is more simple and reliable.
In the site of Millions: Market access strategy to tokenize the existing digital assets of the business program.

Token information

The DigitalBits blockchain network is always available for the use of everyone who are interested. Anyone is able to create digital assets (also known as digital tokens) that are 100% simple /transferable on this decentralized network. When enterprises tokenize their loyalty points on this network, consumers will receive points in the form of digital tokens.
Ticker: XDB
Total supply: 10 billion
Price: 0,004 per token
Token Distribution:
10% Grantand Partner Programs
5% Air Drops
50% Algo Pool
10% Qualified Person Token Sale
15% Founders Team and Advisors
10% future use by foundation

Conclusion

DigitalBits stands to be an open-source project that helps in surpport of the establishment of blockchain technology by enterprise. The technology enables enterprises to tokenize assets on the decentralized DigitalBits blockchain and it helps to make transfers and trade those tokenized assets on-chain and however, enables a fast payment and remittances.

Useful links

Website: https://www.digitalbits.io
Telegram: http://t.me/digitalbits
Facebook: https://www.facebook.com/DigitalBitsOrg/
Twitter: https://twitter.com/DigitalBitsOrg?lang=en
LinkedIn: https://www.linkedin.com/company/digitalbitsorg/

Author Details
BTT Username: Oyimeelijah

submitted by Oyime to ICOAnalysis [link] [comments]

Blockstream CTO Greg Maxwell u/nullc, February 2016: "A year ago I said I though we could probably survive 2MB". August 2017: "Every Bitcoin developer with experience agrees that 2MB blocks are not safe". Whether he's incompetent, corrupt, compromised, or insane, he's unqualified to work on Bitcoin.

Here's Blockstream CTO Greg Maxwell u/nullc posting on February 1, 2016:
"Even a year ago I said I though we could probably survive 2MB" - nullc
https://np.reddit.com/btc/comments/43lxgn/21_months_ago_gavin_andresen_published_a/czjb7tf/
https://np.reddit.com/btc/comments/4jzf05/even_a_year_ago_i_said_i_though_we_could_probably/
https://archive.fo/pH9MZ
And here's the same Blockstream CTO Greg Maxwell u/nullc posting on August 13, 2017:
Blockstream CTO: every Bitcoin developer with experience agrees that 2MB blocks are not safe
https://np.reddit.com/btc/comments/6tcrr2/why_transaction_malleability_cant_be_solved/dlju9dx/
https://np.reddit.com/btc/comments/6te0yb/blockstream_cto_every_bitcoin_developer_with/
https://archive.fo/8d6Jm
What happened to Blockstream CTO Greg Maxwell u/nullc between Feburary 2016 and August 2017?
Computers and networks have been improving since then - and Bitcoin code has also become more efficient.
But something about Blockstream CTO Greg Maxwell u/nullc has been seriously "deteriorating" since then.
What happened to Blockstream CTO Greg Maxwell u/nullc to make him start denying reality??
Ultimately, we may never know with certainty what the problem is with Blockstream CTO Greg Maxwell u/nullc.
But Greg does have some kind of problem - a very serious problem.
  • Maybe he's gone insane.
  • Maybe someone put a gun to his head.
  • Maybe someone is paying him off.
  • Maybe he's just incompetent or corrupt.
Meanwhile, there is one thing we do know with certainty:
Blockstream CTO Greg Maxwell u/nullc is either incompetent or corrupt or compromised or insane - or some combination of the above.
Therefore Blockstream CTO Greg Maxwell u/nullc is not qualified to be involved with Bitcoin.
Background information
The average web page is more than 2 MB in size. https://duckduckgo.com/?q=%22average+web+page%22+size+mb&t=hn&ia=web
https://np.reddit.com/btc/comments/52os89/the_average_web_page_is_more_than_2_mb_in_size/
"Even a year ago I said I though we could probably survive 2MB" - nullc ... So why the fuck has Core/Blockstream done everything they can to obstruct this simple, safe scaling solution? And where is SegWit? When are we going to judge Core/Blockstream by their (in)actions - and not by their words?
https://np.reddit.com/btc/comments/4jzf05/even_a_year_ago_i_said_i_though_we_could_probably/
Previously, Greg Maxwell u/nullc (CTO of Blockstream), Adam Back u/adam3us (CEO of Blockstream), and u/theymos (owner of r\bitcoin) all said that bigger blocks would be fine. Now they prefer to risk splitting the community & the network, instead of upgrading to bigger blocks. What happened to them?
https://np.reddit.com/btc/comments/5dtfld/previously_greg_maxwell_unullc_cto_of_blockstream/
Core/Blockstream is living in a fantasy world. In the real world everyone knows (1) our hardware can support 4-8 MB (even with the Great Firewall), and (2) hard forks are cleaner than soft forks. Core/Blockstream refuses to offer either of these things. Other implementations (eg: BU) can offer both.
https://np.reddit.com/btc/comments/5ejmin/coreblockstream_is_living_in_a_fantasy_world_in/
Overheard on r\bitcoin: "And when will the network adopt the Segwit2x(tm) block size hardfork?" ~ u/DeathScythe676 // "I estimate that will happen at roughly the same time as hell freezing over." ~ u/nullc, One-Meg Greg mAXAwell, CTO of the failed shitty startup Blockstream
https://np.reddit.com/btc/comments/6s6biu/overheard_on_rbitcoin_and_when_will_the_network/
Finally, many people also remember the Cornell study, which determined - over a year ago - that 4MB blocks would already be fine for Bitcoin.
The Cornell study took into consideration factors specific to Bitcoin - such as upload speeds, the Great Firewall of China, and also the possibility of operating behind Tor - and concluded that Bitcoin could support 4MB blocks - over a y ear ago.
You can read various posts on the Cornell study here:
https://np.reddit.com/btc/search?q=cornell+4mb&restrict_sr=on&sort=relevance&t=all
So... what happened to Blockstream CTO Greg Maxwell u/nullc between February 2016 and August 2017?
Why is he stating "alternate facts" like this now?
And when is Blockstream CTO Greg Maxwell u/nullc going to be removed from the Bitcoin project?
The choice is simple:
  • Either Greg Maxwell - an insane, toxic dev who denies reality - decides the blocksize.
  • Or the market decides the blocksize.
The debate is not "SHOULD THE BLOCKSIZE BE 1MB VERSUS 1.7MB?". The debate is: "WHO SHOULD DECIDE THE BLOCKSIZE?" (1) Should an obsolete temporary anti-spam hack freeze blocks at 1MB? (2) Should a centralized dev team soft-fork the blocksize to 1.7MB? (3) OR SHOULD THE MARKET DECIDE THE BLOCKSIZE?
https://np.reddit.com/btc/comments/5pcpec/the_debate_is_not_should_the_blocksize_be_1mb/
"Either the main chain will scale, or a unhobbled chain that provides scaling (like Bitcoin Cash) will become the main chain - and thus the rightful holder of the 'Bitcoin' name. In other words: Either Bitcoin will get scaling - or scaling will get 'Bitcoin'." ~ u/Capt_Roger_Murdock
https://np.reddit.com/btc/comments/6r9uxd/either_the_main_chain_will_scale_or_a_unhobbled/
Bitcoin Original: Reinstate Satoshi's original 32MB max blocksize. If actual blocks grow 54% per year (and price grows 1.542 = 2.37x per year - Metcalfe's Law), then in 8 years we'd have 32MB blocks, 100 txns/sec, 1 BTC = 1 million USD - 100% on-chain P2P cash, without SegWit/Lightning or Unlimited
https://np.reddit.com/btc/comments/5uljaf/bitcoin_original_reinstate_satoshis_original_32mb/
Greg can suppress Bitcoin (BTC). But he can't affect Bitcoin Cash (BCC, or BCH).
Fortunately, it doesn't really matter much anymore if the insane / incompetent / corrupt / compromomised / toxic Blockstream CTO Greg Maxwell u/nullc continues to suppress Bitcoin (ticker: BTC).
Because he cannot suppress Bitcoin Cash (ticker: BCC, or BCH).
Bitcoin Cash (ticker: BCC, or BCH) simply adheres to Satoshi Nakamoto's original design and roadmap for Bitcoin - rejecting the perversion of Bitcoin perpetrated by the insane / corrupt Blockstream CTO Greg Maxwell u/nullc.
ELI85 BCC vs BTC, for Grandma (1) BCC has BigBlocks (max 8MB), BTC has SmallBlocks (max 1-2?MB); (2) BCC has StrongSigs (signatures must be validated and saved on-chain), BTC has WeakSigs (signatures can be discarded with SegWit); (3) BCC has SingleSpend (for zero-conf); BTC has Replace-by-Fee (RBF)
https://np.reddit.com/btc/comments/6r7ub8/eli85_bcc_vs_btc_for_grandma_1_bcc_has_bigblocks/

Bitcoin Cash (ticker: BCC, or BCH)

Bitcoin Cash is the original Bitcoin as designed by Satoshi Nakamoto (and not suppressed by the insane / incompetent / corrupt / compromomised / toxic Blockstream CTO Greg Maxwell).
Bitcoin Cash simply continues with Satoshi's original design and roadmap, whose success has always has been and always will be based on three essential features:
  • high on-chain market-based capacity supporting a greater number of faster and cheaper transactions on-chain;
  • strong on-chain cryptographic security guaranteeing that transaction signatures are always validated and saved on-chain;
  • prevention of double-spending guaranteeing that the same coin can only be spent once.
This means that Bitcoin Cash is the only version of Bitcoin which maintains support for:
  • BigBlocks, supporting increased on-chain transaction capacity - now supporting blocksizes up to 8MB (unlike the Bitcoin-SegWit(2x) "centrally planned blocksize" bug added by Core - which only supports 1-2MB blocksizes);
  • StrongSigs, enforcing mandatory on-chain signature validation - continuing to require miners to download, validate and save all transaction signatures on-chain (unlike the Bitcoin-SegWit(2x) "segregated witness" bug added by Core - which allows miners to discard or avoid downloading signature data);
  • SingleSpend, allowing merchants to continue to accept "zero confirmation" transactions (zero-conf) - facilitating small, in-person retail purchases (unlike the Bitcoin-SegWit(2x) Replace-by-Fee (RBF) bug added by Core - which allows a sender to change the recipient and/or the amount of a transaction, after already sending it).
  • If you were holding Bitcoin (BTC) before the fork on August 1 (where you personally controlled your private keys) then you also automatically have an equal quantity of Bitcoin Cash (BCC, or BCH) - without the need to do anything.
  • Many exchanges and wallets are starting to support Bitcoin Cash. This includes more and more exchanges which have agreed to honor their customers' pre-August 1 online holdings on both forks - Bitcoin (BTC) and Bitcoin Cash (BCC, or BCH).
submitted by ydtm to btc [link] [comments]

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Bitcoin’s Lightning Network Is Live, But Can It Keep from Going Corporate? Mar 29, 2018 at 11:00 UTC Updated Apr 2, 2018 at 13:57 UTC. Leigh Cuen. Bitcoin Cash (BCH) is a hard fork (a community-activated update to the protocol or code) of the original Bitcoin blockchain. The fork of Bitcoin took place on Aug. 1, 2017, with the purpose of updating the block size to 8MB. On Nov. 16, 2018, BCH was hard forked for a second time and split into Bitcoin SV (Satoshi’s Vision) and Bitcoin ABC. On August 1, 2017, Bitcoin Cash split from Bitcoin Core via a hard fork, and the former now features 32MB blocks, whereas BTC has a theoretical capacity for a max “block weight” of 4MB via a Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. Bitcoin’s price is $9,162.90 BTC/USD exchange rate today. The real-time BTC market cap of $168.94 Billion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $2.91 Billion and live coin value change of BTC 0.29 in the last 24 hours.. Bitcoin Price: Live BTC/USD Charts, History Analysis Updates and Real-Time Coin Market Value Data

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