Greetings Everyone,

We are all aware that cryptocurrency is a vast subject and it is obviously difficult to grasp all the terminologies and concept embedded from the works of an unknown creator "Satoshi" only at a short period of time. Cryptocurrency specifically bitcoin is a multifaceted asset whereas some people considered it as a speculative tool to become rich in terms of economic aspect, some treat it as a revolutionary invention that combines the use of distributed system and cryptography, others uses bitcoin to attain financial sovereignty in respect to politics. Hence, educating oneself apropos to these matters are overwhelming in which a neverending study awaits you.

I understand that choosing a particular subject in cryptocurrency that suits your interest is a must, but, What are the proper practice in order to understand the subject in a chronological order? What are the different approach to make sure that the knowledge is intact in the long run? How do you study the subject in a time efficient manner? Any opinions or tips?

*Be concise *

[resiliency]

It looks like Ledger has something for us to improve the resiliency of our paper back up. Too bad! I bought my hardware wallet at an early date  .
[Twitter] https://twitter.com/Ledger/status/1268810543663628288?s=19

Greetings,

Is there any way to create a watching-only wallet on Electrum without plugging in the Ledger Nano S. It is quite difficult to always plug in the Ledger Nano if you just wanted to view the transaction and the addresses of your account. I've also researched some similar guide regarding this.

[1] https://www.reddit.com/r/ledgerwallet/comments/7wepo2/watchingonly_on_electrum_w_segwit/ - I've tried this but there is option showing "no" button

[2] https://bitcoinelectrum.com/creating-a-watch-only-wallet/ - I think this possible if I will just plug in the Ledger and get the MPK from Wallet Menu => Wallet information and then create another standard wallet and open it using only master key.

Just want to confirm this is the correct way if it involves a hardware wallet.

I just finished integrating my Electrum and Ledger Nano S with a native segwit (p2wpkh) script type and a derivation path of m/84'/0'/0' created using Electrum. I also managed to mirror the same script type in Ledger Live considering the fact that the Ledger Live also follows the same derivation path.

Problem is, I am worried that If I am going to use Electrum Testnet with the Ledger Nano connected and the bitcoin app open, the testnet requires me to select another script type which gives me another derivation of m/84'/1'/0'. Will it affect the other bitcoin account that was created before since the derivation path has change?

P.S. I chose native segwit (p2wpkh) for testnet and I cancel the creation of the testnet account.

[@mk4]

Today, I just received my first ever Hardware Wallet which is Ledger Nano S and I am quite excited to set this up and learn from doing this. I just remember before that there was an incident regarding the loss of bitcoin in an exchange here in local and it is quite alarming for people who are holding a large sum of their money in an exchange wallet whereas they do not hold their own private keys.

Just want to remind everyone again na if you are not holding your keys your are not holding your coins. Ito lang din naman kasi yung linyang maririnig niyo kahit sino dito sa forum especially from @mk4. See his pinned post below.

[Security] Iwasang Gumamit ng Custodial Wallets, at iba pang Security Tips

Well this post is actually not a review but a reminder for everyone na as soon as possible have your own keys! Sabihin ko lang din yung laman ng box.

• Ledger Nano S
• a Getting started card
• a Did you notice card
• Three blank recovery sheets

As for the delivery, umorder ako noong May 13, 2020 and ngayon lang dumating even though the estimated date on their real-time tracking network is yesterday May 21, 2020. Nadelay due to some restriction from our area, maybe because we have still an ongoing  quarantine. I also wanted to mention that the DHL support is very attentive to their customers, mabilis lang yung response nila sa email when I sent them notice kung bakit na delay ung parcel. 

Reminders

[1] If you want purchase Ledger products, make sure na sa official website. | https://www.ledger.com/
[2] Kung naka order naman na kayo, make sure to at least review the package kung kumpleto as indicated from their website.
https://support.ledger.com/hc/en-us/articles/360002481534-Check-if-device-is-genuine
[3] Before setting up, read their instructions carefully para maiwasan yung risks from losing your coins especially if you are going to complement youg Ledger to Electrum.
https://support.ledger.com/hc/en-us/articles/115005161925

[making a transaction]

Hello Everyone!

I just wanted to share this bitcoin simulator that I found earlier when I am studying bitcoin protocol and its technicalities. This simulator could help newbies to get a grasp on how bitcoin works under the hood specifically in making a transaction in the bitcoin network as well as the cryptographic hash that is happening when mining.

There is an interactive tutorial in the website which will guide you on how to make use of the simulator.
[1] https://www.bitcoinsimulator.tk/explanation?page=0

They also include video tutorial on how the simulator works.
[2] https://youtu.be/JAaHgrIt8sE

As of now, I am waiting for my Ledger Nano S to arrive in our country and hoping that the product will arrive safely in my delivery address. Of course, as a beginner in using this product, I managed to read a lot of articles regarding Ledger and I found out that there are various ways in setting up a cold storage, which means choosing a method in securing your crypto is subjective and actually depends on the user's preference. So, I decided to only just use a HW in complement with Ledger live or Electrum

As far as I have understood, In order to set up a cold storage using the Ledger Nano S/X, I needed to use Electrum or Ledger Live App in order to communicate with the HW. HW is only used if you wanted to sign the transaction you have broadcasted in the bitcoin network without compromising your private keys hence it is called "coldwallet". The problem is, I am torn between Ledger Live or Electrum.

Here are the key takeaways If I will be using Electrum.

• it has more flexible functionalities which will increase my privacy
• It can be upgraded to support Multi-Sig
• Only supports bitcoin
• UTXO Management

In Ledger Live App

• I have read that there are too many major issues if you are operating Windows OS (I am using Windows 10)
• Supports Altcoin (I am holding ETH and XRP)
• Does not support any coin control features that involves the use of UTXO

Which of the 2 should I use? Or do you think that it is a good idea to have both of them? I will be using Ledger for long term hold and a hot wallet (coins.ph) for storing small amount which I can spend for daily transaction. Suggestion from @o_e_l_e_o

I would probably use the Ledger Nano as a cold wallet to store the majority of your bitcoin which you keep at home, and a mobile wallet as a hot wallet which stores a small amount of "spending" bitcoin which you carry with you. You can then top up your mobile wallet from your cold storage as needed.

I am also considering this suggestion from @nc50lc to integrate the use the of Electrum and Ledger Live app at the same time.

Secondly, if you want to separate your long-term hodling, you can just make a second Bitcoin account through Ledger Live or second wallet with different derivation path (to 2nd account) via Electrum.
Lastly, that was suggested to the topic OP who's already got a spare phone and not planning to buy a hardware wallet.

What do you think?

[[1]]

Greeting everyone,

I am on a research spree with regards to how I am going to take start staking control of my private keys since purchasing a hardware wallet is on my top priority right now. However, I came up with a few questions and some of the guides that I have read makes me confused about the privacy and security of the wallets.

[1]

This guide uses HD-wallets (hierarchical deterministic wallet) with mnemonic seeds (12-24 regular English words). That reduce the risk of fatal mistakes and improves privacy since you don't have to reuse addresses.

If an HD wallet improves the privacy of the user by not reusing the same address overtime why is it that this person has been caught in using hundreds of bitcointalk account even though he is using an HD wallet?

[2]
I wanted to help the bitcoin network to become more decentralized thus, It is obviously required to run my own bitcoin node to help validate my transaction in the bitcoin network while maintaining my privacy. However, Is there any option in running a bitcoin node without consuming a large amount of storage?

Note, the Bitcoin blockchain size is approaching 300 GB. It could take several days to download the whole blockchain. If storage is an issue, you could use “pruned mode”. That way, you´d discard old transactions and only need to store a few GB of data. You won’t be able to help new nodes connect, but you´d still validate everything yourself. If you´re on a limited data plan, downloading 300 GB of data might still be an issue. In that case you´d have to rely on third parties for validating and broadcasting transactions and can skip this step.

[3]
Do we have any tutorials in verifying the digital signature of a downloaded file in different OS? It looks like I also need to master this one since this is one of the fundamentals needed to ensure that the file we are downloading on the internet is not tampered or does not contain any malicious file. As I see it, this is an important skill to master if you are downloading a cryptocurrency wallet where your funds is involve.

These questions pops up in my mind when I read these resources. This is a must read if you want to become a good bitcoin citizen

https://github.com/DriftwoodPalace/guides/blob/master/hodl-guide-light/README.md
https://github.com/DriftwoodPalace/guides/blob/master/hodl-guide-light-ms/README.md
https://github.com/DriftwoodPalace/guides/blob/master/hodl-guide/README.md

Answers are very much appreciated! I also can't reply as fast as I can since I am doing my pending commission. Thank you for understanding.

Greetings Everyone,

Lately, I have been worrying with the security of the wallet I currently use. Since I am from the Philippines, I am using coins.ph as my main wallet in storing BTC, ETH and XRP, this is custodial wallet which makes me worried in storing all of my crypto even though I enabled the 2FA.

Is it possible to create a wallet that has the same security offered by the mainstream hardware wallet like Trezor or Ledger Nano? Do I need another computer mainly for cryptocurrency only? I remember there is someone who said that this is possible, I just can't remember the post and the author.

Thank you.

[November 07, 2017]

Greetings Everyone,

During the 30th of April 2020, I managed to get promoted in Hero Member Rank and I felt one of the most joyful moments during my stay here in bitcointalk forum. Even before the first time of signing up in this forum, I dreamed to become at least one of the Hero Member Rank in this community, and now I finally achieved it, I want to share with you guys my struggles, joyous moments and realizations which can serve as an inspirations and guidelines for aspiring members like me.

My bitcointalk timeline of ranking up:

November 07, 2017 - Date when I registered in the forum.

To be honest most of the merit I have received are from the 10th anniversary art contest. I joined this contest mainly because I am inclined in doing traditional and digital portrait, it made me feel so happy when I learned that there is an ongoing art contest in bitcoin because I really do not expect that it will happen in a forum full of technicalities about bitcoin and blockchain. But then I was surprised because I received a lot of merits when I posted 3 of my artworks.

10th anniversary art contest ENTRY 1 | Satoshi Portrait
10th anniversary art contest ENTRY 2 | Bitcoin Themed Starry Night
10th anniversary art contest ENTRY 3 | Faketoshi

These 3 artworks made me become Official Full Member. Special thanks to @iasenko for suggesting a good Title for my Entry No.3 and sending one 3 last merit in order for me rank up. Very much appreciated and thank you so much once again for people who appreciates my artwork.

November 08, 2019 - When I reached Full Member Rank

After the 10th anniversary art contest, I've tried my best to contribute for the betterment of the forum by replying and creating threads that i think can be very useful for the community and other members. This is also the time I became more active again bitcointalk and in our local section due to the merit spree in art contest, somehow those merits gives me hope that I can be more and contribute more for myself and for people.

February 2, 2020 - Sr. Member Rank Promotion

After being promoted to Sr. Member, I think I somehow help @DireWolfM14 in dealing with the scam accusation to @theyoungmillionaire which gives me a head start again in gaining merit in which I didn't expect in the first place. I am just so disappointed that time when @theyoungmillionaire had defaulted his loan from @DireWolfM14 because TYM became my mentor and I treat him like a brother or "kuya" during my stay here in this community. He also happens to get a loan from me in which I did not hesitate to give because I wanted to help him in his Cryptocurrency product business. Unfortunately, I haven't heard anything from him again until now.

Here is the post regarding the Scam Accusation:
https://bitcointalk.org/index.php?topic=5233790.msg54061366#msg54061366
https://bitcointalk.org/index.php?topic=5233790.msg54104002#msg54104002

After the incident, I managed to sacrifice my leisure time during the lockdown caused by COVID-19. I spent most of my time in studying our past lesson in Discrete Mathematics and watching a lot of videos regarding the basic of blockhain. Thus, it gives me an idea to share all the knowledge I've got during the study course. Here are the posts that I am very proud of.

[RESOURCES] Free bitcoin/blockchain/finance eBook.
Blockchain Basic: Number System | Random Number | Hash Function
Blockchain Basic: Understanding Modulo Operation

I'll try my best to create more technical and in-depth guide about crypto. I really enjoy sharing these kinds of knowledge in this community.

I also want to mention one of my proudest work in our local section Pilipinas.

[INDEX] Informative threads in our local section

Of course, creating my personal Service in Service section also helps me to market my drafting and art skills in this community. Special thanks to @LoyceV for always appreciating these services.

[SERVICE]Charcoal and Graphite Portrait Drawings! | BTC Accepted
[SERVICE] Digital Portrait Drawings! | BTC|ETH|XRP|LTC|BCH Accepted
I am so happy that there is now one customer in my Digital Portrait Services. Thank youu so much.

These topics that I have created lead me to officially promoted in Hero Member Rank.

April 30, 2020 - Hero Member Rank finally achieved - Thanks to @cabalism13 for being an effective and great merit source in our local section.

Anyhow, here are the realization and lessons that I have learned during this long but very rewarding journey.

• This journey is all about knowledge. I am a true believer that having enough knowledge in this industry is the most essential thing to consider if you want to become one of the most important and respected forum member in this community. I noticed that when you have knowledge, you have the capacity to help newer/ other members in their struggles. Merits will come to you unexpectedly.
  
  I formed a habit during lockdown and I have created a schedule for learning more about cryptocurrency and I think you can do it too. I manage to at least learn 1 topic everyday by reading and watching some of my favorite resources I have found on the internet.  I became a fan of PlanB, Andreas Antonopolous and James Lopp. I chose to invest my time in learning, reading and writing about crypto rather than spending my time on some things that will surely not benefit me.
  
  
• Always try to review Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ and [GUIDE] Bitcointalk forum etiquette. In this, you will be familiarizing yourself in the do's and dont's of the forum. Just so to avoid making some mistakes
  
  
• Try to bookmark threads as much as possible whenever you see an Index thread/ thread that contains important information in this community. It will surely benefit you in many cases especially when there is someone asking for a statistical data or any guides.
  
  
• Maintain your exposure into the community by making substantial post because it will somehow increase your reputation. Stay disciplined at all cost.
  

Lastly, I want to thank people who are very supportive in my journey. It is impossible for me rank up if there is no help and appreciation coming from fellow bitcointalk members. Thank you

[bold]

Ang post na ito ay pagsasalin sa wikang Filipino sa artikulo na isinulat ni fillippone na pinamagatang Stock-to-Flow Model: Modeling Bitcoin's Value with Scarcity.
Magbibigay ako ng mga depinisyon sa mga salita na hindi pwedeng isalin sa tagalog kasi baka ito pa yung maging dahilan ng pagkalito. Tandaan na ang mga may karagdagang depinisyon ay naka bold at italic
Kaunti lang ang mga artikulong tulad ng gawa ni PlanB ang may malaking epekto sa mundo ng Bitcoin.
Sinubukan niyang ipakita ang halaga ng Bitcoin gamit ang Stock-to-Flow approach.
Hindi na bago ang Stock-to-Flow approach sa usaping pananalapi. Matagal na itong ginagamit sa pagtukoy sa halaga ng mga mga pisikal na produkto o kalakal. Unang ginamit ang paraang ito sa librong “The Bitcoin Standard”, na isinulat ni Saifedean Ammous, upang ipaliwanag kung bakit ang Bitcoin ay “superior, harder money” kumpara sa kalakal at FIAT money.
Kahit naunang nailathala ang libro ni Saifedean, hindi maikakailang malaki ang naging epekto ng artikulong isinulat ni PlanB. Dinisenyo ito, una sa lahat, upang tukuyin ang presyo ng bitcoin. Malaki rin ang papel na ginampanan nito sa pagpapabatid ng kahalagahan ng halvings sa bitcoin.

Nasa USD 3,400 ang presyo ng bitcoin noong isinapubliko ang article na iyon.

Sa thread na ito, magbibigay ako ng mga paliwanag patungkol sa mga maling paniniwala na nakasaad sa artikulo, kasama na dito ang pagsagot sa mga kadalasang itinatanong, pagpuna sa nasabing model at pag-aaral sa karagdagang pag-unlad.


Link sa orihinal na artikulo:

Modeling Bitcoin's Value with Scarcity

Panimula
Inilathala ni Satoshi Nakamoto ang bitcoin whitepaper noong ika – 31 ng Oktubre 2008, nalikha naman ang bitcoin genesis block noong Ika – 3 ng Enero 2009 at naisapubliko ang bitcoin code noong Ika – 8 ng Enero 2009. At dito nagsimula ang pagtaas ng halaga ng bitcoin na umabot sa hanggang $70 billion bitcoin(BTC) na kasalukuyang presyo ng merkado.
Ang bitcoin ay ang unang cryptocurrency na may limitadong supply na kinilala sa buong mundo. Ito ay limitado na tulad ng pilak at ginto, na maaaring maipadala gamit ang internet, radyo, satellite etc.
“Naisip ko, paano kung mayroong isang uri ng metal na mahirap makuha tulad ng ginto ngunit may mga katangian na sumusunod: kulay abo, hindi mahusay na konduktor ng kuryente, hindi matibay [..], hindi angkop sa ornamental na pagdidisenyo …at kaisa-isang espesyal at pambihirang katangian: pwedeng maipasa gamit lang ang telepono” - Nakamoto

Siguradong ang kakulangan ng digital na pera na ito ay may halaga, Ngunit magkano? Sa artikulong ito susukatin ko ang kakulangan at ang presyo ng bitcoin gamit and Stock–to–flow model.

Kasalukuyang mayroong itong 31 na pagsasalin, at asahang may mga susunod pa (Idadagdag ko na lang sila dito).

Arabic
Armenian
Bulgarian
Chinese
Croatian
Czech
Dutch
Finnish
French
Frisian
German
Georgian
Greek
Gujarati
Hebrew
Hindi
Indonesian
Italian
Japanese
Korean
Norwegian
Persian
Polish
Portuguese
Romanian
Russian
Slovenian
Spanish
Swedish
Turkish
Vietnamese


Live Stock-to-Flow Price:
Bitcoin Stock-to-Flow model live chart



Live Stock-to-Flow dashboard:
Bitcoin SF Analysis ni @hansolar21



F.A.Q. (Frequently Asked Questions / Madalas na mga katanungan)

Sobrang daming tanong patungkol sa Stock-to-Flow-Model. At marami sa mga katanungan na iyon ay nasagot na sa ibat-ibang podcasts (nasa ibaba ang podcast channel). Kokopyahin ko na lang dito ang ilan sa mga tanong na palaging nauulit, at gagamitin kong basehan ang mga sulat ni PlanB para masagot ang mga ito, idadagdag ko na din ang mga opinyon ko kung kinakailangan.


Q1.

Stephan Livera: Sa tingin ko, ang ibang factors na dapat isaalang alang dito ay ang mabilis na pagbabago-bago ng presyo sa merkado, pwede kasi na mas lalong bumilis at bumagal ang pagbaba at pataas ng presyo nito. Maaari mo bang bigyan ito ng kaunting paliwanag?

A1.

PlanB: Oo naman. Siguro kung ibabase natin ito patungkol sa model, makikita mo na hindi naman siya ganoon 100% accurate dahil isa lamang siyang model; kaya lahat ng nakararamdam ng FOMO at yung mga takot sa pag-akyat at pagbaba ng merkado ay hindi na kasama, at makikita mo din naman yun sa chart. Simple lang naman ang pinahihiwatig ng model, base sa Stock-to-Flow; kaya lang naman mabilis ang pataas at pagbaba ng actual market ay dahil sa fear and greed. Madalas, kung makikita mo ang market ay tumataas ng 3-10x sa model value, pero ang pinakamababa ay 50%, isa yan sa mga naiisip kong dahilan, “Sige, kung sasabihin natin na ang value ng model ngayon ay medyo mataas sa $6000, ang pinaka mababang presyo nito sa bear market ay $3000 which is 50% ng halaga ng model. Ayun nga, ganoon yung nakikita ko.

SLP67


Q2.

“Oh, kasama na ba yung epekto ng halving sa presyo ng bitcoin?” sa tingin ko ito yung paniniwala mo sa mga debates; halimbawa yung efficient market hypothesis. BIlang isang Austrian at sa palagay ko kahit si Saifedan mismo ay parehas kaming nagsasabi, “Hindi pantay na ibinigay ang kaalaman sa lahat, kaya maling isipin na hindi na dapat tayo mangialam sa mas mabisa at hindi mabisang paraan ng EMH”, ngunit mayroon pa din iilang eskwelahan sa Chicago ang naniniwala na tama ang ideyang ito.

A2.

PlanB: Magandang punto iyan. Sa totoo lang, isa yan sa mga naunang charts ko, yung halving chart na may color overlay; ipinapakita doon kung ano ang magiging presyo ng bitcoin sa mga susunod pang mga buwan hanggang sa susunod na halving; at malinaw mong makikita na hindi kasama yung magiging epekto ng halving sa magiging presyo nito, o sabihin na nating hindi kasama yung nakaraang epekto ng dalawang halving. So, sa pagkakaalam ko wala din magiging epekto sa presyo ng bitcoin yung susunod na May 2020 halving. Medyo weird kasi dapat may epekto yun. Sa katunayan, sobra akong naniniwala sa efficient market hypothesis, kasi dapat ito yung unang maging basehan nila kasi karaniwan sa mga tao ngayon walang alam sa nangyayari. Tanging ang efficient market price lang yung pinaka magandang presyo na pwede natin pagbasehan ngayon, at napakatootoo niyan kung sobrang laki ng market at madaling ibenta, at tingin ko ganoon din sa bitcon. Para siyang $80 billion market.

SLP67



Q3.

Stephan Livera:[…]”Oh, pwede mo bang i-apply ang Stock-to-Flow analysis o modelling sa Altcoins”[…]”

A3.

PlanB: Ayan nga yung madalas na naitatanong sa akin, kung pwede ko daw bang gamitin ang Stock-to-Flow model sa Litecoin o B Cash at Ethereum. So ipaliliwanag ko nang mas mabuti. Ang punto kasi ng Stock-to-Flow ay base sa ideyang hindi madaling dayain ang tunay na presyo ng isa bagay. Upang maintindihan ng mga bagong tagapakinig, balikan muna natin kung ano ba ang depinisyon ng stock-to-flow model. Ang Stock-to-Flow ay ginagamit upang malaman ang kasalukuyang bilang ng stock ng isang kalakal (yung kabuuang dami na pwedeng magamit) na hahatiin gamit ang bilang ng bagong produksiyon (dami ng namina o nagawa sa partikular na taon). Halimbawa na lang nito ay ang bitcoin na may 17 million na stock o humigit kumulang 18 million at hahatiin gamit ang flow o yung dami ng bitcoin na magagawa o mamimina, sa madaling salita stock divided by flow. Ang bitcoin ay mayroong flow na 0.7 million kada taon na galing sa pagmimina at kung gagamitin mo ang stock-to-flow formula, makakakuha ka ng sagot na 25, ang 25 ay ang stock-to-flow number para sa bitcoin.

PlanB: At hindi lang ito basta numero, tinatawag ko itong kakulangan, o sukat ng kakulangan sabi sa artikulo, sadyang ang stock-to-flow ay walang kakayahan na kontrolin ang pagdami ng produksyon para palobohin ang kabubuang bilang ng stock.  Kung ang stock ay may sapat na bilang at pinapanatili nito ang produksyon, may posilibilidad na ang mga prodyusers ay may kakayahang palobohin ang bilang ng stock. At alam naman natin ang maaring maging problema kapag pinalobo ng mga kumpanya o gobyerno ang bilang ng stock. Tulad na lamang ng bansang Zimbabwe kung saan si Mugabe, ang prime minister ng nasabing bansa ay nagprint ng maraming dolyar ayon sa kanyang gusto, na naging dahilan ng pagbagsak ng kanilang ekonomiya. Ganoon din ang nangyari sa bansang Venezuela na pinamumunuan ni Maduro. At maari mo din itong maihalintulad sa dolyar, euro pati na din sa konsepto ng quantitative easing. Hindi tamang solusyon ang pag-pi-print ng dolyar, euros at yens para lang gamiting pang-piyansa sa mga bangko at ng buong ekonomiya.

PlanB: Ang stock-to-flow ay ginagamit upang maiwasan ang hindi magandang epekto nito sa fiat currency tulad ng nangyari sa bansang Zimbabwe at Venezuela gayundin sa quantitative easing. So kung gagamitin natin ito sa crypto, napakaimportanteng isaalang-alang ang pagkakaroon ng desentralisasyon. Kung mayroong kakayahang magdesisyon ang isang tao, kumpanya o ng isang bansa para baguhin ang patakarang pananalapi, hindi na ito magiging desentralisado. Magkakaroon lang sila ng kakayahan para makagawa o makapaproduce pa ng maraming pera, coins o di kaya palobohin pa ang bilang ng stock.

PlanB: Isang halimbawa nito ang Ripple. Ang CEO ng Ripple ay may kakayahang makapag premine ng isa pang daang bilyong ripple hangga’t gusto niya. At kung titingnan mo naman ang Ethereum, wala kang makikitang limit sa supply nito. Binabago talaga nila yung supply ng pera. Hindi naman na importante kung babaguhin ba nila ang money supply o hindi na, pero yung katotohanan na may kakayang sila itong kontrolin o baguhin… Well, baka ayan pa yung magiging dahilan ng pag-aalala ko bilang isang investor. At sobrang kaiba ito sa bitcoin, dahil ito ay peer-to-peer network na may maraming nodes, mayroon kang sariling kakayahan na i-verify ang money supply nito. Hindi ka dedepende sa third-party tulad ng banko o ng isang kumpanya o di kaya tulad ng isang data center na magsasabi sayo kung ilan ang supply ng pera..

PlanB: Hindi mo pwedeng basta-basta baguhin ang 21 Million na money supply ng bitcoin, hard-forking ang mangyayari kung susubukan mong baguhin ang supply cap nito. At sa tingin ko, walang maniniwala o susunod sayo para gawin ang hard-forking. Tulad ng Bitcoin Cash na mayroong big blocks, pwede mo din gawin iyong hard-forking pero huwag ka umasa na may susunod sayo. Siguro ang pinaka huling puntong dapat kong banggitin ay yung sa teoretikal side ng stock-to-flow pagdating sa Altcoins, hindi dapat madaling mag-produce ng pera katulad ng ginto. Kaya nga makita mo lang ang ginto sa ilalim ng dagat, o di kaya ayon sa nabasa kong artikulo tungkol sa bulalakaw kamakailan, posibleng kang makakuha ng ginto sa tinatawag nilang the golden asteroid.

PlanB: Magiging magastos ang pagmimina ng ginto sa dagat o bulalakaw, kaya nga hindi nila iyon magawa. Ganoon din sa bitcoin. Hash-based proof-of-work at napakataas ng hash rate nito. Kaya mataas ang pagkonsumo nito sa kuryente para makapagmina ng bitcoin, kaya napakalaking kaibahan nito pagdating sa Altcoins. Halimbawa, ang Ripple ay hindi nangangailangan ng Proof-of-Work at hindi naman ganoon kataas ang hash rate ng Bitcoin Cash, kaya nga hindi ito masyadong secured. Uulitin ko, isa yan sa mga dahilan kung bakit hindi ako mapakali bilang isang investor, at para sa mga taong may higit pang gustong malaman tungkol dito, si Nick Szabo ang nag imbento ng terminong ito, at nagsabi na hindi madaling dayain ang totoong magiging presyo ng mga ito. Kaya siguraduhin ninyong basahin lahat.

PlanB: Sa kabila ng lahat patungkol sa teoretikal na argumentong hindi madaling pekeen ang tunay na presyo ng mga ito. Nagdesisyon ako na kahit papaaano i-apply ko ito sa Altcoins, hindi dahil maraming pumipilit na gamitin ang Stock-to-flow model sa Altcoins kundi para makita ko mismo kung posible ba na magamit ito. Samakatuwid, Isa ito sa mga ginagawan ko ng pagsusuri kasama ang mga eksperto pagdating sa pag-aaral ng stock trading. At masasabi ko sayo ng pahapyaw kung ano ang naging resulta nito, nag tweet na din ako tungkol dito. Lahat sila nakitaan ng sobrang babang R-squares, kaya hindi pwedeng gamitin ang model para dito. Halimbawa, magandang pag-aralan ang Litecoin kasi nalalapit na ang halving nito. Ang Litecoin ay mayroong R-squared na 32% at masasabi natin na sobrang baba ito kumpara sa 95% ng bitcoin. Sa madaling sabi, wala ito gaanong relasyon sa isa’t-isa. Ganoon din ang makikita mo sa Ethereum na nasa 50% R-squared at Decred o DCR na 0% R-squared

PlanB: Kaya kung imposible ang tingin mo sa teoretikal na argumentong hindi madaling dayain ang totoong halaga ng mga ito, nagkakamali ka, kasi kung pag-aaralan mo nang mabuti ang stock-to-flow model, hindi pa din magiging maganda ang resulta.[…]

SLP86

Ilan sa mga SF graph para sa Altcoins: Malinaw na makikita na walang kaugnayan (cointegration) ang SF at ang value nito:



Q4.

Stephan Livera: Oo nga, nakakamangha ito. Para sa mga tagapakinig, ang table mo ay nagpapakita ng taon, halving at yung predicted price ng model. Sabi mo na ang magiging presyo ng mga ito ay 50,000, 400,000 at 3.2 million para sa 2028 halving. Ngayong epektibo na gamitin na yung stock-to-flow model, lilinawin ko lang na hindi ito batas pang ekonomiya, isa lamang itong modelo, pero dahil gumagana naman yung model. May ideya ka ba kung ilang cycle pa yung pwede natin asahan gamit ang model na ito?

A4.

PlanB: Oo, kasama din yan sa mga napag-usapan sa Twitter, sobrang daming tanong tungkol  sa magiging presyo nito. Kung pagbabasehan mo yung table, pwede tayong umabot sa taong 2140 habang wala ng flow, hindi na magkakaroon ng panibagong bitcoin at tanging fees na lang yung matitira. Posible na walang katapusang pag-aaral sa Stock-to-flow ang mangyayari para lang malaman ang teoretikal na presyo nito. Paano naging posible iyon? Sa tingin ko, masyadong teoretikal na argumento iyon, kaso praktikal akong tao. Kung ang titingnan lang natin ay ang tatlong susunod pang mga halving. Mapapansin natin na nasa 100, $200 billion ang market nito. Bawat halving pwede itong tumaas ng 10x. Pagkatapos ng 2020, posible na maabot yung 1 trillion, 10 trillion naman sa 2024. At 100 trillion US dollars naman kapagtapos ng taong 2028.

PlanB: Sa tingin ko hindi naman natin kailangan maghintay hanggang 2140 bago tuluyang mawala ang bisa ng model. Magiging mas maaga pa ito kaysa sa iniisip natin. Sa palagay ko, taong 2024. O di kaya sa pagitan ng taong 2024 at 2028 dahil sobrang laking halaga ng $100 trillion bitcoin market kung ikukumpara mo ito sa US dollar. Mayroong itong monetary base na three million at sa tingin ko, 12 or 14 trilion na M2. Ibig sabihin, sa pagitan ng taong 2024 at 2028, mas malaki na ang halaga ng bitcoin kumpara sa US dollar. Sa madaling salita, unti-unti nang nawawalan ng halaga ang US dollar, at maaring bitcoin na lang ang ating gagamitin..

Stephan Livera: Napaka bullish.

SLP86

Ito yung image na pinagbasehan nila:


Twitter link


Noong nagdesisyon si Satoshi na limitahan ang kabuuang supply na 21 miilion na BTC, nagkaroon siya ng ideya kung saan ang pinakamaliit na unit ng bitcoin na tinatawag na satoshi ay pwedeng magkaroon ng malaking halaga. Kaya nangangahulugan ito na baka ang isang bitcoin ay pwedeng magkahalaga ng isang milyon. (Kasama si Hal Finney sa desisyong ito)
Para lalo pang tumaas ang presyo ng bitcoin, kinakailangang bumaba ang halaga ng dolyar: hindi naman talaga bitcoin yung tumataas, kasi ang totoo, bumababa na ang halaga ng dolyar. Kung ang bitcoin ay magkakahalaga ng 3,200,000 USD siguro ang isang litro ng gatas ay nasa 50 USD na: lalo lang magmamahal ang mga bilihin

Sarili kong review tungkol sa Stock-to-flow model:

• Pagkompyut sa Uncertainty ng bitcoin Stock-to-Flow Model
  

  The linear regression of the log of the values seems reasonable but the uncertainty (variability / error) large enough, especially when brought back to a linear scale, that it makes it difficult to make useful specific predictions. Then again, that alone is useful information.
  
  Sabihin ko na lang po yung paliwanag ko dito kasi sobrang hirap isalin sa filipino kapag puro mathematical terms, baka lalo kasing maging dahilan ng pagkalito kapag literal na isinalin ko sa wikang Filipino.
  Kung pag-aaralan po kasi natin yung linear regression of the log sa mathematics, magkakaroong po tayo ng ideya sa relationship ng dalawang variables. In this case po, ang pagkakaintindi ko sa first paragraph ay; mayroong in-assume na dalawang related variable pero kapag daw kinuha yung error (theoretical-experimental)/theoretic, makakakuha ng malaking error. Ibig sabihin, mahirap ipredict yung specific value ng bitcoin kasi pwede pong biglaang tumaas at bumaba. Kapag may oras po ako didisuss ko po ito kasi need ko pang aralin kasi sobrang technical ng paliwanag.

  
  
• Hindi pagtanggap sa Stock-to-Flow Model para malaman ang halaga ng bitcoin
  
  

  Ang artikulong Ito ay magsasabi kung mayroon bang relasyon ang paggamit ng Stock-to-Flow upang malaman ang halaga ng bitcoin. Ang inirekomendang log-log model ay istatistikong pinag-aralan kung mabisa ba itong gamitin sa least squares assumptions, ito ay para mapatunayan kung magkaugnay ba ang mga variable na ginamit o hindi. Ang Vector Error Correction Model (VECM) ay pinag-aralan at sinubukang ikumpara sa orihinal na stock-to-flow model. Habang ang ilan sa mga modelong ito ay nakikipagkumpetensya sa orihinal na model, lahat sila hindi na-reject yung hypothesis na ang stock-to-flow ay importanteng predictor sa halaga ng bitcoin ibig sabihin, pinanindigan nila yung hypothesis nila na yung stock to flow ay legitimate predictor at mahalaga sa pag identify ng value ng bitcoin in terms of Akaike Information Criteria
  

Podcasts kung saan idenetalye ni PlanB ang kanyang mga article:

• What Bitcoin Did: Stock-to-flow ayon kay PlanB
• Stephan Livera Podcast #86 PlanB – Frontrunning the Bitcoin Halvening?
• Stephan Livera Podcast #67 PlanB – Pagsukat sa kakulangan ng bitcoin gamit ang Stock-to-flow Techniques

Related na pag-aaral tungkol sa Stock-to-Flow

• Ayon sa bangko ng mga Aleman ang bitcoin ay tataas ng $90,000 sa 2020

Nagsumite ng report ang banko ng mga Aleman patungkol sa bitcoin (BTC) versus gold, kung saan nahulaan nila na magkakaroon ng malakihang pagtaas ng cryptocurrency sa taong 2020.Nalalamangan na ba ng bitcoin ang gold?Noong Ika-3 ng Oktubre, ang bangko na nakabase sa Munich ay naglathala ng pinakabagong research report na nagsasabing ang paparating na bitcoin halving ay magkakaroon ng epekto sa kasalukuyang  $8,300 presyo nito.Nilinaw ng institusyong pampinansiyal na dapat tumaas ang stock-to-flow ratio ng ginto “mahirap na paraan sa paglipas ng millennia.” Sa kabilang banda, mas mataas yung posibilidad na maaabot ng bitcoin ang nasabing stock-to-flow ratio sa mga susunod na taon kumpara sa ginto. Ayon sa prediction ng report.[/ul]

Direktang link sa research paper:

Nalalamangan na ba ng bitcoin ang gold?

Impressive work  
Love to put this on my wall thank you very much and will love to use your service again in future.
again thank you.

Well received, Maus! I'm not much of an artist but I think you gave fair value for the drawings I commissioned. Thank you! I haven't opened my email to see the hi-def photos in my email, but from the ones received in Telegram, I'm happy.

P.S. Happy Mother's Day!

Also a pleasure, good attitude to work, you'll do well, just keep at it. And yes, I likely have a bit more for you but as I mentioned I'll need a few weeks to get back as there's some stuff that needs setting up first and loads of old material that needs digging up. I dedicate my weekends to these, very busy, but we already have each other's contacts.

Good luck to the rest of your work!

I already received the drawing. Superb quality and I will gonna use it to my airbnb profile picture. I will recommend your service in my friends and to my clients. I hope that you can give me again discount on my next purchase. Thank you very much to a quality drawing.  

Greetings Everyone,

I just wanted to ask if there is a reputable gambling website that has In-Between or Acey Deucey, also known as Yablon. Honestly, this is the only game I played in real life when it comes to gambling and I enjoy playing it due to its simple betting rule.

For those people who has no idea about this game, let me quote its definition according to Wiki.

Each player must add their ante into the pot. Two cards are then dealt face-up to one player. That player then bets from nothing to the amount that is in the pot at the time whether or not the third card will numerically fall in between the first two. If the third card falls in between the two other cards, the bettor takes the amount he bet out of the pot; if the third card falls outside of the two other cards, the bettor must add what he bet to the pot; and if the third card matches the numerical value of one of the other two cards, the bettor must add to the pot double what they bet. If two cards of the same value come up, e.g. 2,2 the bettor picks if the next card will be higher or lower and bets. If the next card is the same as the last two, i.e. a 2, the bettor must triple their bet.

This topic has been moved to Development & Technical Discussion.
I moved this topic because I think this is too much for newcomers to understand though this is just concept and just wanted to share what I have learned in the community. Thank you
https://bitcointalk.org/index.php?topic=5241704.0

[UNDERSTANDING MODULO]

.UNDERSTANDING MODULO

While I am searching in this forum about blockchain topic, I came across in this topic secp256k1 parameters: when to use what as a modulus? that pertains to a familiar term called Modulo. Modulo is one of the lesson we’ve covered in one of the required subject in my course called Discrete Mathematics, so I decided to review my lecture notes and create an informative post since I have a basic understanding how Modulo operates.

How Modulo is related in cryptography?

Upon searching on the internet, having an understanding of Modulo is one of the basic mathematical foundations necessary to understand blockchain and elliptic curve cryptography. Based on the last topic that I have created about Hash Function Blockchain Basic: Number System | Random Number | Hash Function, we can say that hashes are irreversible meaning that it is a one way process. It is irreversible in the sense that for each input you have exactly one output or multiple input can yield the same exact output. In simpler terms, we cannot determine the input value based only in the output value because there are many possible number input in order to get the same exact answer. (ref1, ref2, ref3)

Key Takeaway

• The mathematical law of Modulo operator is similar to the irreversibility of cryptographic hashes.
• Cryptographic hashes are designed to be irreversible and collision resistant

.MODULO

We define Z_n as the set of integers from {0, 1, 2, 3, ... n-1} modulo n. Note that  Z_n has exactly n nonnegative integers. In particular, we define Z_n with the following set of positive integers.

Z₃ = {0, 1, 2}, modulo 3
Z₅ = {0, 1, 2, 3, 4}, modulo 5
Z₇ = {0, 1, 2, 3, 4, 5, 6}, modulo 7

In Z_n, modulo is simply the remainder r when an integer a ∈ Z is divided by n, i.e.

a/n has remainder r < n

.Example 1

Find the remainder of the integers a) 9 ; b) 29 in Z₃, Z₄, Z₅ and Z₇

Solution:

a) 9

Z₃ : r = 0 Explanation: 9 / 3 = 3 with 0 remainder
Z₄ : r = 1 Explanation: 9 / 4 = 2 ; 4 * 2 = 8 ; 9 - 8 = 1 remainder ==> This is an example irreversibility meaning different input can yield the same exact output
Z₅ : r = 4 Explanation: 9 / 5 = 1 ; 5 * 1 = 5 ; 9 - 5 = 4 remainder
Z₇: r = 2  Explanation: 9 / 7 = 1 ; 7 * 1 = 1 ; 9 - 7 = 2 remainder

b) 29

Z₃ : r = 2 Explanation: 29 / 3 = 9 ; 3 * 9 = 27 ; 29 - 27 = 2
Z₄ : r = 1 Explanation: 29 / 4 = 7 ; 4 * 7 = 28 ; 29 - 28 = 1 ==> This is an example irreversibility meaning different input can yield the same exact output
Z₅ : r = 4 Explanation: 29 / 5 = 5 ; 5 * 5 = 25 ; 29 - 25 = 4
Z₇ : r = 1 Explanation: 29 / 7 = 4 ; 7 * 4 = 28 ; 29 - 28 = 1

.Example 2

Perform the following in Z₃, Z₅, Z₇

a)  3 + 5
b)  6 ∙ 2

Solution:

a)  3 + 5

Z₃ :3 + 5 = 2 Explanation: Sum = 8 ; 8 / 3 = 2 ; 3 * 2 = 6 ; 8 - 6 = 2
Z₅ :3 + 5 = 3 Explanation: Sum = 8 ; 8 / 5 = 1 ; 5 * 1 = 5 ; 8 - 5 = 3
Z₇ :3 + 5 = 1 Explanation: Sum = 8 ; 8 / 7 = 1 ; 7 * 1 = 7 ; 8 - 7 = 1

b)  6 ∙ 2

Z₃ :6 ∙ 2 = 0 Explanation: Product = 12 ; 12 / 3 = 4 ; 3 * 4 = 12 ; 12 - 12 = 0
Z₅ :6 ∙ 2 = 2 Explanation: Product = 12 ; 12 / 5 = 2 ; 5 * 2 = 10 ; 12 - 10 = 2
Z₇ :6 ∙ 2 = 5 Explanation: Product = 12 ; 12 / 7 = 1 ; 7 * 1 = 7 ; 12 - 7 = 5

CONSTRUCTING TABLES OF Z_n

1. In Z₃ = {0, 1, 2}

Z₃ is closed under the binary operations of multiplication of integers modulo 3

Find the following:

1. -1 (add value of n) = 2
2. -2 (add value of n) = 1
3. 1 / 2(multiplicative inverse of 2; or 2-1) = 2 ==> refer to the table above in order to get the modulo involving fractions

Note: If there is a negative integer add the value of n to get the modulo. In this example n = 3

2. In Z₅ = {0, 1, 2, 3, 4}

Z₅ is closed under the binary operations of multiplication of integers modulo 5.

Find the following:

1. -1 = 4 Explanation: -1 + 5 = 4
2. -2 = 3 Explanation: -2 + 5 = 3
3. -3 = 2 Explanation: -3 + 5 = 2
4. -4 = 1 Explanation: -4 + 5 = 1
5. 1 / 2 = 3 Explanation: refer to the table above
6. 1 /3 = 2 Explanation: by looking at the numerator
7. 1 / 4 = 4 Explanation: and denominator
8. 2 / 3 = 4
9. - 3 / 4 = 3

In the next following example there will be no explanation to the correct answer given

3. In Z₃, find the following:

a) 2 - 3 = 2 + 0 = 2
b) -2 - 1 = 1 + 2 = 0
c) -1 / 2 = -2 = 1
d) -3 + 1 / 2 = 0 + 2 = 2
e) 2[-2 ÷ (-1)] = 2[1 ÷ 2] = 2 (1 / 2) = 2(2) = 1
f) -1 ÷ (-2) = 2 / 1 = 2

4. In Z₅, find the following:

a) 1 / 3+ 1 /2 = 2 + 3 = 0
b) -3 + 1 / 4 = 2 + 4 = 1
c) -1 / 3 + 1 / 4 = -2 + 4 = 3 + 4 = 2
d) - 2 / 3 + 3 / 4 = -4 + 2 = 1 + 2 = 3

5. Construct the table for Z₄ using the binary operation of multiplication and find the following:

a) -3 + 5
b) 2 - 1 / 3
c) 1 / 2

a) -3 + 5 = 1 + 5 = 2
b) 2 - 1 / 3 = 2 - 3 = 2 + 1 = 3
c) 1 / 2 = does not exist (DNE)

.MORE EXERCISES

1. -4 + 2/5 in Z₇
= 3 + 6
= 9
= 2

2. - 3 / 10 + 6 – 4 / 7 in Z₁₁
= -8 + 6 – 10
= 3 + 6 + 1
= 10

3. -6 – 4 / 9 + 1 / 4 in Z₁₀
= 4 – 6 + ?
= does not exist/ undefined

4. 7 - 75 in Z₇
= 7 – 75 = -68
= -61 = -54= -47= -40= -33= -26= -19= -12= -5= 2 Explanation: add value of n until the answer become positive integer.

General note: Negative answer in modulo is restricted


Thank you for reading my topic regarding modulo. I hope that this topic helps you to understand the underlying importance behind the concept of blockhain. Thank you

Greetings Everyone,

Lately I am asking myself what else can I do to drastically improve my knowledge in bitcoin and blockchain even though I am just a first year college kid.

I've been thinking a lot how can you guys knows a lot about bitcoin, its economic effect, its technicalities etc., I was just amazed on how you guys respond to some of the very technical question every newbies or amateur ask. I admire all of you folks.

I know to myself that I am reading a lot and feeding my brain with knowledge as much as I can each day but it feels like it isn't enough to at least contribute something in crypto space. Reading books, watching crypto debate, trying to at least learn other programming language though I know C++ because it is one of the subject required in my course but unsure that it is enough.

Am I making a haste? I don't think so because I enjoy what I am doing but at some point it feels pointless and empty.

Is it because of the age? I don't think that knowledge has something to do with my age, it is just a mere excuse to not know a lot better than anybody else.

Thank you everyone.

Edit: This post is located in Serious Discussion before and I decided to move in Beginner's and Help Board to gather some more insights.

[add and link them to an overview section below]

Good Day Everyone, I hope you are having a fantastic day today.

I am a  freshman Computer Engineering student in the Philippines and I decided to create a thread wherein I will use bitcointalk as a means of sharing my knowledge that I absorbed during my stay in the University and from the knowledge I consume when I am doing a self – study about the technicalities of bitcoin and its network. I am not a native English speaker but I will try to explain the technical terms and the concept clearly and concise as much as possible, so please bear with me.

I am posting a sequential lesson in this thread and I'll try to edit or reply in my own thread whenever I learned something that I think is very beneficial for newbies to know and to avoid multiple creation of threads. This way I can just simply add and link them to an overview section below.

Why I am creating this thread:

• To assess the knowledge that I absorb if it is correct or not. This thread was created mainly because I wanted to share my knowledge as well as to be corrected by someone if there are some misconceptions that I had explained. It is for the benefit of everyone to learn proper knowledge, to distinguish what information must be learned and what not.
  
  
• To give value into the community, there are people in this community who has a very large contribution and it makes me inspired to educate newbies and to contribute for the betterment of the forum. I just wanted to be like those people who dedicate their life into the crypto-space. So fuckin amaze how they can explain this technology with ease.
  
  
• To personally understand the concept, I am having a hard time to fully understand the concept if I am not writing or typing it to the computer. So I decided to share it here to make the knowledge intact inside my brain, and to discipline myself about teaching other people the correct knowledge about Bitcoin.
  
  
• I think it is important for us to know the foundation of every complex algorithm that we see in every news portal in crypto - space, and how bitcoin works inside the network. Learning how to walk before running is a good way to  help prepare ourselves in contributing in this vast technology.
  

TOPIC OVERVIEW


Topic 1: Number System
Topic 2: Understanding the concept of Random Number
Topic 3: Hash Function


Topic 1: Number System

• Decimal (base 10) – 0, 1, 2, 3, 4, 5, 6, 7, 8, 9
• Binary (base 2) – 0, 1
• Hexadecimal (base 16) – 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, A, B, C, D, E and F. | A = 10; B = 11; C = 12; D = 13; E = 14; F = 15

BINARY NUMBERS

• A Binary Number is made up of only 0's and 1's. There is no 2, 3, 4, 5, 6, 7, 8 or 9 etc
• A single binary digit (like "0" or "1") is called a "bit" (binary digit)
• For example 1101010 is 7 bits long.
• A binary number of 8 bits is called a byte. (1 byte = 8 bits)
• Two bytes has 16 bits, three bytes has 24 bits
• Binary numbers are used mainly in computers.
• Binary system is also called base – 2 numeral system. Because it only consists of 0 and 1.

DECIMAL NUMBERS

• Decimal number only consists of 10 symbols: 0, 1, 2, 3, 4, 5, 6, 7, 8, 9.
• Based on wiki, “decimal” comes from the latin word “decimus” which means 10.
• Mainly used by humans.
• Decimal System is also called Base – 10 numeral system. Because it only consists of 10 digits from 0 - 9

HEXADECIMALS NUMBERS

• Hexadecimal numbers consists of 16 sysmbols: 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, A, B, C, D, E and F
• Mainly used by humans and computers.
• The latin word hexa means 6 while the decimus which is the latin word for decimal means 10 thus when combined meaning 16.
• Examples: 1D8A, 8B2F
• Hexadecimals number are commonly prefixed by “0x” to avoid being mistaken to be a decimal number. Example: 0x1D8A, 0X8B2f, 0x9486.
• Hexadceimal is also called Base – 16 numeral system

CONVERSION FROM BINARY TO DECIMAL AND HEXADECIMAL NUMBER

CONVERSION FROM DECIMAL TO BINARY AND HEXADECIMAL NUMBER

Conversion steps from decimal to binary
1.   Divide the number by 2.
2.   Get the integer quotient for the next iteration.
3.   Get the remainder for the binary digit.
4.   Repeat the steps until the quotient is equal to 0.

Conversion steps from decimal to hex:
1.   Divide the number by 16.
2.   Get the integer quotient for the next iteration.
3.   Get the remainder for the hex digit.
4.   Repeat the steps until the quotient is equal to 0.

IMPORTANT NOTE: I used pen and paper to at least give an example on how I manually convert these problems. It is a very tedious work if I will use graphic editing tools to represent the computation.


CONVERSION HEXADECIMAL TO BINARY AND DECIMAL NUMBERS

References and resources:
https://www.rapidtables.com/
https://www.mobilefish.com/home/welcome/welcome.html


Topic 2: Understanding the concept of Random Number
return to index

Note that the next lesson is just an introduction of the importance and concept of random number in blockchain technology. Random number is a very complex lesson for a beginner to understand so I am trying my best to explain it clearly. You can use the title of the lesson to further research on the said topic.

What is Random Number

• Based on my research and using the common sense Random numbers are numbers which are randomly generated like playing a dice, throwing a coin and shuffling of playing cards.
• Computers can generate Pseudo Random Number Generator (PRNG).
• A PNRG uses a “seed” as input and a mathematical function which generates a random number.
• The seed is a relative small number and the generated random number is usually a large number. See the example below to in order for this concept to make sense.
• In the Blockchain and cryptography random numbers are commonly used to generate public and private keys and can also be used in online gambling

Why random number is significant in blockchain technology?

• Random numbers are vital because it is a key for a strong digital security. As per my understanding it is obvious that generating an unpredictable numbers can strengthen the encryption which makes sense since one of the key features of blockchain is immutability.
• It strengthens the security of the transactions.

Upon doing my research, it is somehow connected to the bitcoin’s cryptographic algorithm Elliptic Curve Digital Signature Algorithm (ECDSA).  I won’t explain this algorithm much further since I am still lack of knowledge to understand this kind of cryptography. This algorithm is google – able, so you can find a lot of the information on the internet.

The most common example for this type of generating a random number is called Mid – Square Hashing or Middle Square Algorithm wherein it basically explains how a random number can produce a much larger numbers that can be used of hashing. However this is just an example and this type of hashing algorithm is not used in blockchain technology. Here are the two examples that I found on the internet.

Code:

Suppose a 4-digit seed is taken. seed = 3685
Hence, square of seed is = 3685 * 3685 = 13579225
Now, from this 8-digit number, any four digits are extracted (Say, the middle four).
So, the new seed value becomes seed = 5792
Now, square of this new seed is = 5792* 5792= 33547264
Again, the same set of 4-digits is extracted.
So, the new seed value becomes seed = 5472

Code:

Suppose a 4-digit seed is taken. seed = 3685
Hence, square of seed is = 3685 * 3685 = 13579225  Random number 5792
Multiply the result by itself:
Hence, square of seed is 13579225 * 13579225 = 184395351600625  Random number 5792 5351
Repeat steps until generated random number has your desired number of digits

The random number is equivalent to the middle value of the square seed.

References and resources:
https://www.geeksforgeeks.org/mid-square-hashing/
https://thirtyk.com/2018/07/18/blockchain-random-numbers/
https://www.mobilefish.com/home/welcome/welcome.html


Topic 3: Hash Function
return to index

What is Hash Function? - A function that takes input value, and from that input creates an output value based from the input value.

It can convert a string or a data of any size and outputs a hash. A hash is usually displayed as a hexadecimal number.

A small change in a string of text or data will output different hash

There is also some instances that two different data can produce the same hash. This is called “Hash Collision”..

However, According to Stack Exchange, the hash function can also be considered as “Hash Collision resistant ” when there is a difficulty in finding 2 data or input that has the same hash output

* - not collision resistant

References and sources:
https://www.pelock.com/products/hash-calculator
https://en.wikipedia.org/wiki/List_of_hash_functions#Cryptographic_hash_functions
https://crypto.stackexchange.com/questions/8509/why-crypto-hash-functions-must-be-collision-resistant-and-how-to-find-resistant

[Mastering Bitcoin]

Good Day Everyone

I just have a lot of time in sharing these books that I collect personally from the internet for further readings when I find some leisure time and I think it would be very beneficial for anyone if they will use their time in reading and educating themselves about the different aspect or nature of cryptocurrency, the technology behind it and its philosophies etc.

Honestly I am having a hard time to actually post this because I am hesitant if posting a direct download link of these educational resources is allowed in this commmmunity so I to had create a thread in Meta to make sure if it is possible to share these book in my arsenal where I also downloaded it for free. Fortunately it is allowed so I think it would be very nice idea if I'll be sharing these books also for free.  

Mastering Bitcoin

The Internet of Money

Profiting from Crypto

Mastering Bitcoin

Mastering Ethereum

The Age of Crypto

The Bitcoin Standard

The Book of Satoshi

The Business Blockchain

Life After Google

Digital Gold

Blockchain for Dummies

Bitcoin and Crypto Tech .

Crypto Success

Essays on Bitcoin

Price Analysis

Midas Touch

Rich Dad Poor Dad

Cashflow Quadrant

Good Day Everyone

I just want to ask if distributing a direct link of cryptocurrency PDF or Ebook for downloading purposes is allowed in our community. I recently checked the Unofficial list of (official) Bitcointalk.org rules, guidelines, FAQ but unfortunately I didn't find any answer to my question if it is allowed or not. I also run a quick search in the community to find any related thread to avoid clogging or posting repeated question but the results are just people who are selling their PDF or ebook even though that some of them can be found on the internet.

I have found several Bitcoin / Blockchain Book in my arsenal and I am planning to share it to the community so that they can be productive during their stay at home quarantine. The only thing that bothers me is that if I post this links

Am I refusing to conform into the community rules?
Am I violating the laws that pertains to copyright infringement?

I think it would be very beneficial for all of us if these question can be included in the Frequently Asked Question or maybe if possible in the Unofficial list of rules, guidelines. Thank you everyone. All your answers are appreciated.