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December 14, 2018, 04:21:36 PM *
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1  Bitcoin / Development & Technical Discussion / Re: Bitcoin transaction versus bitcoin mining on: December 10, 2018, 03:36:50 PM
  bitcoin mining is a process adding blockchain transaction or other as bitcoin transaction like bitcoin ledger ,wallet process and other utilities transaction
Not exactly true. Mining is the process of adding unconfirmed transactions to the blocks and then finding/solving the hash of the block to match with the current target. Miners/ Peers who are looking to solve the block add the transactions(hanging around in the mempool) to the empty blocks, and then solve the block hash to find a suitable hash which would be lower than or equal to the current target. The peer who does this, broadcasts them to the network and other nodes/peers accept them. By this way of dedicating their electricity to find the suitable hash, these miners are awarded with bitcoins by the network. These bounty gets halved every 2016 blocks and when this reward diminishes, miners solely depend on the tx fees of each transaction.

so without mining how can we process our transaction without mining.how can i work the blockchain without mining. please  correct if i wrong.
Yes, it is possible to send bitcoin or do a transaction from your wallet, but it won't be confirmed by anyone i.e the other person won't be able to spend what you have sent to him. While considering LN, miners are not involved directly with the transactions, but they are required for opening and closing of a channel. Opening of a channel occurs on-chain which requires a miner and thereafter all the LN tx occurs off-chain.

P.S I am not really familiar/have never read anything about Multichain, but I have read somewhere that Credits and IOTA Blockchain platforms don't require miners actually. (Not really sure)
2  Economy / Collectibles / Re: [FREE RAFFLE] CLOUDBET & KROGOTH'S LOADED DENARIUM COIN RAFFLE#5 on: December 10, 2018, 09:10:58 AM
82 - Heisenberg
3  Economy / Speculation / Re: bitcoin IS in a bubble on: December 07, 2018, 07:36:31 AM
What's this about intrinsic value? As I understand it, Bitcoin has no intrinsic value. It's only worth what the next person is willing to pay.
What makes Gold and other precious metals to be more valuable than other metals? Over times, people have accepted that to be store of value and buy them so that they would be worth something higher than what they have bought. Gold price is not based on what other people spend for it! People spend money to mine them and mining is not done free of cost!  Moreover, bitcoin is not something similar to a stock of a company to be worth enough or to be based on others traders buy orders! They are created for the purpose of serving as a digital money and in the future we will shift to them.

Bitcoin is similar to gold. Miners spend money in the form of electricity to mine btc which costs around $4500/btc at the current difficulty even in third world countries where electricity is literally cheaper. With ETF and newer regulations coming out in Q1 of 2019 it is expected to rise in price sooner. But ATM miners are at loss and whale movements prove to be a bad sign for the upcoming days in the market. Once btc is considered to be global payment system and new regulations rise up, we will see new highs. Till then bear continues to dominate the market.

Many people believed in DotCom Bubble but they got adapted as days passed by, such thing will happen with the digital money.
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Send ERC20 Tokens Without Paying Gas on: December 05, 2018, 05:46:14 PM
(1) How is it possible to send ERC20 Tokens without gas?
Gas is something like a fuel which must be specified for each and every transaction to take place in the ethereum blockchain. Does your vehicle run without fuel? It is not really possible to send a transaction without gas. What you can set is the price of each gas unit! This may range from 0.1 gwei to how much ever you need.

There are decentralized exchanges which use tokens as tx fee instead of ethereum. For such tx to occur you don't need to have Eth in your wallet. The exchanges withdraw the fee from the tokens you are trying to transfer.


1- the gas price is not zero (0.000000), but something so low that etherscan consider as zero, such as 0.00000001 eth .
Yes that's true, you can specify the gas price as low as 1-10 wei which might be confirmed by the miner after few hours. 1-10 wei is so small that would be equivalent to $0.0001 which etherscan would have rounded off to $0. With eth price being as low as $100 the price of the tx would be considered negligible if we specify it in wei.
5  Alternate cryptocurrencies / Altcoin Discussion / Re: Could you merge quantum cryptography and blockchain? on: December 05, 2018, 07:29:51 AM
Moving this topic to Development and Tech Discussion will yield you better answers. Once when Quantum Computers emerges in future, it would be literally easy for them to break the public - private key combinations and change the cryptographic functions. Those futuristic devices can mine the blocks at a much faster rate than normal ASIC's and can even double spend the currencies. But merging of quantum cryptography with blockchain technology would be helpful to save the cryptocurrency future and to make the quantum machines impossible to break the code and to find the vulnerabilities.

There is a research paper published which is based on integrating Quantum Cryptography with blockchain. Though, quantum machines will be evolving only in future, it is safer to use the current cruptographic algorithms.
6  Bitcoin / Electrum / Re: Electrum server on: December 04, 2018, 06:28:13 PM
Having your own electrum server can serve in 2 ways. One is for using it up as a personal server for your own wallet not to be based on 3rd party electrum servers and other one is helping the users of electrum to validate their transactions and broadcast them to the network. Running a normal electrum server requires you to have a good VPS and rather than running them in your home PC as they are not full nodes. People connect to your servers and these servers are used for broadcasting and validation. This is a good tutorial on how to set up your own public server and one for personal server.

Also I have read sometime back here in the forum, that you need to be having a good SSD and RAM for running your own server so that the blocks would get synced up faster. It would be better that if you have your own personal server and not to involve yourself in running a public server as most probably you should be running them at your own costs.
7  Economy / Collectibles / Re: [FREE RAFFLE] CLOUDBET & KROGOTH'S LOADED DENARIUM COIN RAFFLE#4 on: December 04, 2018, 03:30:12 PM
64 - Heisenberg
8  Economy / Collectibles / Re: [FREE RAFFLE] CLOUDBET & KROGOTH'S LOADED DENARIUM COIN RAFFLE#3 on: November 26, 2018, 03:45:06 AM
73 - Heisenberg

May the force be with everyone!  Smiley
9  Bitcoin / Bitcoin Technical Support / Re: how to know how much i am sending ? with fees and calculating that stuff on: November 16, 2018, 04:17:19 PM
You can better use https://coinmarketcap.com/converter/ for knowing how much $85 costs in Btc! CMC converts your USD to BTC at the current trading rate. $85 is around 0.01518702 BTC

Donwload Electrum/ any trusted wallet, fill in your wallet with btc and click on Send and enter Btc address to which you need to send the amount, enter the amount and scroll the fees from minimal to max. If you set the fees to max, your transaction would get confirmed sooner and if you set the fees to minimum your transaction will get confirmed lately.

Tx fees are calculated in satoshi/byte. Legacy (addresses that start with 1) consume more bytes than segwit(starting with 3) and specifying higher satoshis per byte will make your tx to confirm faster in less number of blocks.
10  Other / Off-topic / Re: RIP Stan Lee - A True Pop Culture Icon on: November 14, 2018, 04:57:15 AM
I hope they pre-shot a ton of cameos for upcoming Marvel movies

Cant they digitally place him in movies?

https://en.wikipedia.org/wiki/Virtual_actor
That's really a very bad idea which might receive some negative criticism. We don't need another Tarkin/Leia type of recreation CG in these movies. Moreover, Fiege and Russo's have confirmed that Stan would appear in at least 3 more MCU films of 2019. Weather he being a part of Guardians of the Galaxy 3 is still unknown and that might end the current Phase 3.

P.S Should this topic be really in Collectibles section? May be Serious Discussion would fit. Smiley
11  Other / Meta / Re: Report plagiarism (copy/pasting) here. Calling for Mod action: please permban on: November 10, 2018, 05:48:49 PM
I am quite confused in reporting prashadraj205000. Most of his posts are from a website named coindelite, I presume that he may be a paid promotional poster for the website,though he mentions only in some of his posts. Also some of his posts are plagiarized from medium and other news related sites. So should he be banned or given a chance by deleting his plagiarism posts?

A post of his, which are being plagiarized from news related sites. Most of his posts have been given proper reference to coindelite site rather a few.

Copy :

It was recently revealed that hackers have found yet another way to mine cryptocurrencies. Reportedly, they are employing fake Adobe Flash updates to install cryptocurrency mining malware on networks and userís computers. This results in severe losses, a significant drop in system performance and increased electricity bills for the affected users.

While Adobe Flash has long been a popular method for pushing malware onto computers. It used to be easy to identify. Hackers have since come up with innovations that allow them to silently download cryptocurrency miners on Windows computers.

Original :

It was recently revealed that hackers have found yet another way to mine cryptocurrencies. Reportedly, they are employing fake Adobe Flash updates to install cryptocurrency mining malware on networks and userís computers. This results in severe losses, a significant drop in system performance and increased electricity bills for the affected users.
While Adobe Flash has long been a popular method for pushing malware onto computers. It used to be easy to identify. Hackers have since come up with innovations that allow them to silently download cryptocurrency miners on Windows computers.



Are mods checking for when spam in a thread would become to much to lock it or delete it? Or would it help to also crowdsource that kind of reporting?
Most of the threads generating insane amount of spam are being deleted or locked up if we report them. These kinds of mega spam threads are common in Alt Discussion. Mods would be quite busy in the Alt Discussion, they might have more work apart from locking and deleting a thread as the board is a hotbed for Referral Code Spams, Scams and Phishing Sites.

Hence, it would be better if we report the mega spam thread rather than waiting for MOD to lock them.

The OPs of the thread and the projects being promoted? Why should the rest of the thread remain up if it is generating so many pages of spam in a day.
You can better check that up by joining the SpamBusters Club. They discuss these sorts of issues quite often.
12  Economy / Speculation / Re: CSW apparently will dump 1M Bitcoin to crash the Market on: November 09, 2018, 12:13:35 PM
The rumours have been floating around for over 2-3 months. If he was to really dump and run away, he could have done that during the market peak in December last year. Also, whales might be greedy, they won't be dumping for some cheap price considering the price would tank when the order book fills at least half... If the so called 1 million coins were true, and even before he sells, he should move his coins to any exchange wallet. That would create panic among the investors and would drop the price to at least $4000. A month back a particular whale wallet consisting of 23000 bitcoins were moved to another wallet, that resulted in a drop of few hundred dollars within hours.

Claiming himself as satoshi doesn't mean that he is satoshi. He hasn't proved cryptographically that he is satoshi by signing up the messages with the private keys. Hence, he is lying again and would lie forever. Grin
13  Economy / Games and rounds / Re: [DAILY FREE RAFFLE] 136th JUST BECAUSE I AM STILL IN A GOOD MOOD FREE BITCOIN on: November 06, 2018, 02:05:47 PM
No...I have ordered the coins and am awaiting arrival.  Once I get em AND am in an EXTREMELY GREAT MOOD...then I will raffle  Cheesy
That's really good to hear. Try to make that on a special Bitcoin day such as the Genesis Day which falls on January 3 or on the Bitcoin 0.1 release day...

Congrats Kryptowerk!
14  Economy / Games and rounds / Re: [DAILY FREE RAFFLE] 136th JUST BECAUSE I AM STILL IN A GOOD MOOD FREE BITCOIN on: November 06, 2018, 11:48:53 AM
Good Morning Krog!

b - Heisenberg

Good luck all  Smiley
Is the Denarium raffle over?
15  Other / Meta / Re: Report plagiarism (copy/pasting) here. Calling for Mod action: please permban on: November 05, 2018, 08:55:40 AM
Newbie Ayan.nanzy has been plagiarising from various sources to make his post look unique.

Copy :

The Co-founder of Unicoin 37-year old Harish and Sathvik V have been arrested days after their firm launched a Bitcoin ATM kiosk at a mall in violation of RBI norms. Unocoin, a blockchain solution provider, instituted first of a kind cryptocurrency kiosk -- Bitcoin ATM -- in Bangalore. ďThe first kiosk is being deployed in Bangalore to be followed by Mumbai and Delhi in a couple of weeks, Unocoin stated this on installing first bitcoin ATM kiosk in Bangalore without permission from the authorities.

RBI had stated the Supreme Court in July 2018 that allowing dealings in crypto currencies like Bitcoins would encourage illegal transactions and it has already issued a circular prohibiting the use of these virtual currencies.

One cannot deny the fact that the Indian population is also lured towards investing in cryptocurrencies. The ban might not be able to stop cryptocurrency dealing completely but in fact, create a huge underground market and increase over the counter dealing of cryptocurrency.
Although itís true that cryptocurrencies fundamentally provide anonymity but in a country like India where a large sum of people uses platforms (WazirX, KuCoin) that offer you to buy and sell cryptocurrencies through rupee and to do so, a customer has to register and provide their IDs such as Aadhar Card and PAN Card. Doing this allows the platform to keep a record of all the transactions of customers and as an authority, RBI and other financial institution can check these records at any time they want.

In the future, the government might think of bringing cryptocurrencies under regulation through licensing. So it's entirely up to one to hold their cryptocurrency or to sell it for the profits they can realize at the moment.

Archived : http://archive.fo/BGX7K

Original :

Two co-founders of Unicoin, engaged in banned crypto currency exchange, have been arrested, days after their firm launched a Bitcoin ATM kiosk at a mall here in violation of RBI norms

Unocoin, a blockchain solution  provider, has instituted a first of a kind kiosk -- Bitcoin ATM -- in Bangalore. ďThe first kiosk is being deployed in Bangalore to be followed by Mumbai and Delhi in a couple of weeks, Unocoin said in a statement.

One cannot deny the fact that the Indian population is also lured towards investing in cryptocurrencies. The ban might not be able to stop cryptocurrency dealing completely but in fact, create a huge underground market and increase over the counter dealing of cryptocurrency.
Although itís true that cryptocurrencies fundamentally provide anonymity but in a country like India where a large sum of people uses platforms (ZebPay, KuCoin) that offer you to buy and sell cryptocurrencies through rupee and to do so, a customer has to register and provide their IDs such as Aadhar Card and PAN Card. Doing this allows the platform to keep a record of all the transactions of customers and as an authority, RBI and other financial institution can check these records at any time they want.

It is clear that he has plagiarized texts from various sources, used a text spinning tool and posted it.
16  Other / Serious discussion / Re: To infinity and beyond. Does "beyond" exist ? on: October 31, 2018, 06:54:29 AM
There is no particular proof of the universe being infinite. Theories, AFAIK, are mostly pointing to the opposite.
Infinity is something which doesn't have any boundaries on either side and extending to some non-explainable distances or something which has a greater value than a normal natural number. The size of the universe cannot be theoretically measured as radiations sent from earth reached back and there is still more space to explore beyond the distances. Thus it can be said that universe has an infinite size nor it can never be measured with current technological instruments. Even the size of the observable universe/cosmic web is unfathomably large. So it's better to stay on the point that whole universe can never be measured and can be considered as an infinite area of black space, galaxies, super clusters all held together by gravity.

Even if we create a module or a space probe which can travel at the speed of light (better than a Millennium Falcon  Grin), it would take you 45 billion light years to reach the end of cosmic web. Considering the Big Bang happened before 14 billion years, the light emitted from galaxies created 14 billion years ago took 14 billion years to reach the earth and also they are expanding at a rapid phase which might have doubled putting the radius to 46 billion.  Isn't this number beyond a natural number? I assume that if scientists find a way to travel through the black hole, it may take us to the other end of the universe or something beyond the infinity. Also they believe that the whole universe is 10≤≥ times larger than the current observable universe.  Shocked These numbers would just bring us nightmares if we think of what is exactly the size of the whole universe?

The earth is round. So endless.
Endless?  Huh What do you mean exactly by the term endless? We start at a point and end at the same point, this isn't endless! Endless is which doesn't have a end point and you never able to reach the end point.
17  Economy / Games and rounds / Re: [DAILY FREE RAFFLE] 128th JUST BECAUSE I AM STILL IN A GOOD MOOD FREE BITCOIN on: October 25, 2018, 06:22:15 PM
 I am contemplating on raffling a loaded Denarium https://denarium.com/product/denarium-custom-001-5-btc-gold-plated coin.

   It might start on the first Monday of November.

  In other words it will have about $10 worth of real Bitcoin inside of it. Shocked

  Also 100 spots instead of 16 so more people can join in  Cheesy

  Will keep you guys updated.
This should have been the 100th Raffle after all  Tongue Really unique one and kind of you to raffle up a loaded denarium for free.
100 spots is good so that everyone might get a chance to participate and may try their luck in the raffle. Eagerly waiting for Denarium Raffle.  Smiley

And Good Luck with your Escrow Service.  Wink You are proving yourself to be one of the most reputed and trustworthy person in the forum, I would vouch for you for sure.
18  Bitcoin / Development & Technical Discussion / Re: Why didn't satoshi use PoW for something else? on: October 25, 2018, 06:55:13 AM
Try to explain someone like Warren Buffet, Roubini or all these guys how the massive ASIC hashrate isn't a big waste. They simply cannot fathom that it's part of what makes Bitcoin valuable (the fact that is backed by all that power which makes it the safest decentralized network in earth)
Most of the people on this earth who are aware of the name bitcoin feel like it is a ponzi/pyramid scheme and it is similar to stocks. They most probably never even understand the technology behind what governs and secure the btc network and why it can be used as a very secure decentralized payment system around the world. People like Warren Buffet often says he never thought that Internet would grow as a world wide phenomenon and Giants like Amazon and Google would grow such huge occupying a percentage of world economy. The fact is that they don't literally understand what happens in the backend or they don't have the age to understand them.



A lot of people will simply never get it, they are too old I guess.
Being old isn't the only thing that most of them don't understand what btc is and think of it as a get rich quick scheme. Almost 75% of the third world population aren't really of btc/cryptocurrency and when they come to know of them, it takes time for them to completely understand the underlying Tech and to use them in real world.

Btc is a currency mostly for tech based and nerd people and for a futuristic well developed world which came out in existence a little early.



Im not sure about transforming the heat generated by the ASICs into something else. I have not seen anything done in this field other than anecdotal stuff like this:
https://motherboard.vice.com/en_us/article/9k8ykp/heating-water-with-bitcoin-mining-asic-reddit
The mining industry does generate some huge heat and if it used effectively on a larger scale they can be converted into some form of useful energy as depicted above by you.
It is to be noted that,

[1] Co2 emitted by the crypto mining industry is equivalent to around 60 million tonnes per year whereas the Co2 emitted by banks and fiat currency minting is equivalent to 370 million tonnes.

[2] Energy consumed by the Crypto mining industry is 4 million Giga Joules per year whereas Banks and Banking Systems cumulatively use an average of 2000 million Giga Joules per year.

These factors are enough to prove that Btc can overrule the fiat and can be used as a world wide currency run by the people and not by some centralized government organisations.
19  Bitcoin / Development & Technical Discussion / Re: Why didn't satoshi use PoW for something else? on: October 23, 2018, 07:35:47 AM
There are many critics of Bitcoin that argue how "Bitcoin's PoW wastes too much energy".
What exactly do they mean by wastage of energy? Energy is wasted only when nothing is gained from them. Generated Energy from Solar, Wind, Water and other renewable means is used in the form of providing entertainment and to fulfill our basic needs. You pay for the electricity you use and it is being used in some form or the other. Renewable resources are always replaced and would never likely end. On an average, it would cost around $3000 - $5000 to mine one bitcoin. If the miner sell them, they would get a profit of around 1.5x - 2x they have spent in the form of electricity and at the current trading price of 1 Btc.

The energy consumed by the ASIC's are used for generating money and for securing the decentralized payment system all around the world. Miners doesn't waste the energy rather they use these energy to generate money. Wasting is something which is used carelessly or for no purpose to anyone.

When mining is being done, the ASIC's generate a lot of heat. This heat energy can be re-used and can be converted into an energy. Intense Heat Generated form these ASIC's can be used for many practical applications. I have even read somewhere in the past that, Denmark and Germany paid it's citizens to use their electricity as they were high on renewable electricity production.

Quote
Why didn't satoshi use PoS or other energy efficient mining algorithms?
PoS and other energy efficient mining process apart from PoW are created to reduce the usage of energy in the process of mining the blocks. This would make the miners take little to no efforts in mining apart from staking coins. Mining a #1000 block and #100000 block will literally have the same difficulty. Some algorithms similar to PoS will favour old miners and whales rather than a miner having the potential and equipment to mine the block. This also makes some to stop trading and use their coins for staking to earn profits.
20  Alternate cryptocurrencies / Service Discussion (Altcoins) / Re: FAKE volume Fake user in SISTEMKOIN Scam Exchange on: October 21, 2018, 06:55:46 PM
Most of the exchanges volumes will be influenced by bot trading. Hitbtc, Hotbit, Bitforex are some of the very popular exchanges were trading volumes of coin listed there would be good but they won't pass the orders. For instance if a person willing to buy some random alts in any of these exchanges they would quote the price. But they seem to sell lower than the quoted price and their order doesn't pass. There are certain other instances to prove that many of the exchanges are being run by bot and provide fake volume. Some bots even buy a minimal of 1 coin or token for less than $1.  Cheesy

Sistemkoin might be one such exchange which may be run by bots and provide fake trading volume.
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