5 Insights from a Bitcoin Founder Seeking Funding

You may be in quarantine, but that doesn’t mean we aren’t! For those who don’t know, every month this subreddit makes a millionaire out of one comment, and donates. With danger out and about, take some time and comment to enter! [Drawing Thread #52]

I thought this year would be a lot more normal.

Introduction:
Welcome to anyone and everyone coming from /popular. To be honest, I probably should've expected this, given that most of us are staying home.
For those who aren't familiar: every month, we ask for comments for entry, and we pick one who represents our winner. This process is completely random and verifiable, using the Bitcoin blockchain as a sophisticated die. Following this, people then donate to the winner using a variety of mediums, and the winner would go on to be a "millionaire" (arguably, our definition of that term is pretty loose).
So once again, thank you for your support. The post lasts for 24 hours before getting locked, so make sure you place your comment before 7 PM ET. In addition, I may make a [Part 2] if we reach the limit. If that happens, I will sticky a comment on this post temporarily. Let's make a millionaire!
In Case You Missed It:

Information

  • REQUIRED: Leave only one (1) top level comment in reply to this thread! (Replying to other comments will not qualify. You must be thirty days old or older to comment.)
  • A random user who commented will be chosen, and everyone donates a dollar to make a millionaire.
  • February 19 at 7:00 PM ET (epoch timestamp: 1582153200 (a bit tricky taking DST into consideration, it’s been updated)) is the cutoff for accounts. If you have created your account after this point, you are not eligible to enter and your submission will be disqualified automatically.
  • March 22 at 12:00 PM ET (epoch timestamp: 1584892800) will begin the process of selecting the winner. At this time, the [Draw] post will be online and start the process of waiting for the blockchain, in order to select the winner randomly and verifiably.
  • If you'd like to be reminded to donate to the winner through PM via the RemindMeBot, click here! You can also be reminded by commenting in the thread: "RemindMe! 3 days Donation for /millionairemakers".
  • That's it! If you would like to see the extended rules and FAQs, or if you have questions yourself, click here to be redirected to the thread! Additionally, look out for the stickied post at /millionairemakersmeta. You are welcome to spread this thread via upvoting, telling friends and family, and sharing on social media!

Major Announcements

Mini Survey:
NOTE: A Google account is required to respond to hinder tampering, but you are not obligated to answer.
So I’ve been thinking about this for a while: people are not having pleasant experiences with PayPal. If the account isn’t blocked, then there are issues with fees, fear of the seizure of funds, and the risk of revealing personally identifiable information. However, it is the largest platform used by /MillionaireMakers, and is the provider of most donations on this subreddit.
This survey is purely to see how people feel about this. Unless if the winner chooses to not accept PayPal, we will continue to offer this service for tonight’s thread.
My questions are:
1) How would you feel about a ban on the PayPal service here on /MillionaireMakers?
2) Would removing PayPal as a service affect your ability to donate?
3) Should /MillionaireMakers remove PayPal?
I will periodically post results here. If you are interested in responding, please answer here, answers will not be accepted at the time the [Draw] is posted: https://docs.google.com/forms/d/e/1FAIpQLSffkP3SKdTi9lLPbtO8taG4_-cdctYlAf8SvohvzoJvTOYdhw/viewform?usp=sf_link
Drawing Process Mini-Update:
This is as short as they come, leroy627 has made a commit to the repository that adds backwards-compatibility up to Python 3.5. Procedure will be run with the following conditions: the first comment of duplicates are kept for the month of March, and any ineligible comments will be removed.
If you are interested in more information, see [Drawing Thread #51]: https://reddit.com/millionairemakers/comments/f7jdxz/alright_were_getting_back_into_the_flow_happy/

Conclusion

Sunday at 12 PM ET (16 UTC), we will be picking our winner, and you won’t want to miss it. The post will be labeled [Draw], and one comment will be selected out of the many made here to make a winner!
Remember, this is about generosity, making an impact, and uniting to make someone's life better. It takes three minutes to donate a bit to the winner, whether you're well off and want to donate a couple bucks, or going through tough times and can only donate a few coins. Every cent makes cents, and counts!
If a lone $1 can get you a mask for obvious reasons, then imagine the possibilities with $1,000,000. You can get a full-body suit, new doors, and someone to love you! Admittedly, for the wrong reasons, but the option is there.
A million dollars can make someone’s suffering less sufferable. Spread the word: have your friends and family comment, post the link to your friendly-neighborhood social media network, and share it to anyone interested.

Let’s make a millionaire!

Why, kind Haiku? Why?
Am I to atone in home?
Perhaps. I’ll get by.
submitted by MakerOfMillionaires to millionairemakers [link] [comments]

EOS is highly undervalued because there was so much FUD

Because so much FUD has been produced in the last year (including by coindesk), the price of EOS has dropped quite a bit against other coins like Ethereum. But the technology, the developers and the community are still growing in secret. The community is just waiting for the big breakthrough to come.
Very good Collection against EOS FUD: eosbasecamp . com
A lot of people are saying the network is congested, but it is working as designed. You can rent EOS on REX very cheap. Much cheaper than ETH gas fees. Or you just use a wallet like anchor from Greymass and you can continue with free transactions (as designed the big players offers free transactions for their users).
BP's were never and are not a chinese cartel. There are a lot of big players competing against each other. The government is improving with token holders and big proxies starting to set criterias for the Block Producers. In fact the block producers developed a Framework for exchanges, so the users can vote if they have their token on a exchange: medium . com/@generEOS/open-source-exchange-voting-portal-ede575090ee3
BlockProducers have a contract to perform. If one miss too much blocks, he can get temporarily removed from 15 out of 21 BP's. BP's and block one working together to improve the IT infrastructure for EOS regularly. Just check the huge improvement in the last 6 month with the EOS benchmark: alohaeos . com/tools/benchmarks#networkId=1&timeframeId=12
Block one is continuously developing EOSIO Software. With EOS 2.0 the network is able to process around 10'000 tx/s (Proved on the testnet). EOS 3.0 is in development.
With eosio.evm (Ethereum virtual machine) there is now a possibility for Ethereum developers to take advantage of the speed from EOS.
BOSIBC just created interblockchain communications between the EOSIO chains. Dan is working on IBC as well with 4 chains (private EOSIO chains interacting with the EOS mainchain).
With Voice coming out this summer, there will come out as well a KYC method/solution with face ID without the need for government documents.
There are several promising products who start the DeFi development on EOS. Interview with Yves La Rose June 2020: esatoshi . club/satoshi-club-x-eos-ama-recap-from-june-8
And with the DAPP Network you can do unlimited scaling with childchains and sharding (Yes this îs already a working product!), develop/connect with any or multiple blockchains, universal account - one user account for all blockchains you want to use, maximal affordable decentralized storage, decentralized and trustless oracle similar to chainlink, but without needing a separate blockchain and with never seen low latency, easily create scheduled tasks and timers, boundless computational power, Easily implement randomness without resorting to vulnerable, complex, or expensive methods… As a developer with DAPP Network you can do whatever you want and whatever you need and connect anything with everything.
There was just so much FUD about EOS and everybody fell for it! I think that whoever started the EOS FUD is just scared like shit, that EOS actually delivers what they promised! Everybody who is a little bit smart understand the potential from EOSIO and DAPP Network. EOS is now there, where Ethereum will be in 5 years.
And no, there are not only Gambling Dapps on EOS:
everypedia . org: everyone’s decentralized encyclopedia
peos . one: private & untraceable transactions on EOS (Monero tech combined with the speed from EOS)
eosdt . com: over-collateralized stable coin (like MAKER)
vigor . ai: world's first multi-collateral insured token protocol available everywhere
chintai . io: issuance and management and secondary trading of tokenized securities
eosoptions . com: low latency on-chain options platform
prediqt.everipedia . org: prediction market protocol and #DeFi platform
acueos . io: decentralized moneymarket protocol for lenders and borrowers
pizza . live: PIZZA-USDE generate USDE stablecoin, decentralized financial ecosystem
liquidapps . io and dappsolutions . app: DAPP Network with LiquidOracles, LiquidChain (childchains and sharding), LiquidX (Connect any blockchain), vRam, vCPU, universalAccounts, LiquidScheduler, LiquidRandomness
newdex . io: the world's leading decentralized exchange
eosfinex . com: A high-performance exchange built on EOSIO
dexeos . io: EOS-based Decentralized Exchange
ive . one: global investment & issuing platform for digital assets
dgoods . org: A digital, distributed, open standard for virtual items on blockchain
sense . chat: Messenger built to communicate, organize, and reward your communities and friends
wordproof . io: wordpress plugin to protect website content
joinseeds . com: ecosystem to empower humanity and heal our planet
emanate . live: instantly rewards artists and music lovers for their creative expression
travala . com/payment/eosio-eos: Book Hotels and Accommodations, Worldwide
marketcap . one: EOS Pricefeeds
gallery . pixeos. art: International Marketplace for Collecting Art
prospectors . io: exciting strategy game on EOS and WAX (IBC connected) gives players endless opportunities to earn crypto
darkcountry . io: NFT Card Game with export functions to all possible blockchains
turncoatgalaxies . com: Turncoat Galaxies Strategy game
blankos . com: Huuuge Mythical NFT Game
voice . com: freedom of Speech. where truth has a voice
effect . ai: earn with the perfect combination of human and machine
Piña: eoslongisland . com/pina : is a restaurant review, rate reward app
Lifebank: youtube . com/watch?v=tgbZWs5vE5s : blood donation app
Fabblink: youtube . com/watch?v=AynFqe7GBAw : enable transparent, secure and reliable distributed automated manufacturing
Qure: devpost . com/software/qure-d3ihje : economic virtual meetup community
Kyros: youtube . com/watch?v=TwVbfJNvvGA : certificates Hub
transledger . io: Move Bitcoin, Litecoin or Bitcoincash to faster networks (EOS)
For sure I forgot some and a lot more will follow for sure...

vc . eos . io: PartneInvestments and Grants Overview from EOS VC and partners Galaxy Digital, EOS Global, SVK Crypto and FinLab
And EOS VC Grants Program continues investing in projects (today 34 companies) who use EOSIO software which will all benefit EOS in some ways: eos . io/news/blockone-announces-eos-vc-grants-recipients
and other investments to grow the EOSIO ecosystem: Gapless receives 5.5 million euros after support from the FinLab EOS VC Fund and Porsche AG, Expects 100,000 Listed Vehicles by EOY: chainbulletin . com/car-app-gapless-holds-successful-funding-round-expects-100000-listed-vehicles-by-eoy/
Major U.S. accounting firm Grant Thornton has announced a new platform for its clients to handle their intercompany transactions using the EOSIO blockchain. By doing this, they capture a small slice of an area worth $40 trillion annually: cointelegraph . com/news/grant-thornton-moves-intercompany-transactions-to-eosio
sparrowexchange . com Singapure based options trading platform. Stefan Schuetze, Managing Director of FinLab EOS VC Fund, said, "We are excited to invest in Sparrow, which is developing the next generation of financial products by leveraging EOSIO for their on-chain settlement layer." prnewswire . co.uk/news-releases/sparrow-raises-usd-3-5-mil-in-series-a-funding-874437988.html
submitted by CryptoDae to eos [link] [comments]

Why i’m bullish on Zilliqa (long read)

Edit: TL;DR added in the comments
 
Hey all, I've been researching coins since 2017 and have gone through 100s of them in the last 3 years. I got introduced to blockchain via Bitcoin of course, analyzed Ethereum thereafter and from that moment I have a keen interest in smart contact platforms. I’m passionate about Ethereum but I find Zilliqa to have a better risk-reward ratio. Especially because Zilliqa has found an elegant balance between being secure, decentralized and scalable in my opinion.
 
Below I post my analysis of why from all the coins I went through I’m most bullish on Zilliqa (yes I went through Tezos, EOS, NEO, VeChain, Harmony, Algorand, Cardano etc.). Note that this is not investment advice and although it's a thorough analysis there is obviously some bias involved. Looking forward to what you all think!
 
Fun fact: the name Zilliqa is a play on ‘silica’ silicon dioxide which means “Silicon for the high-throughput consensus computer.”
 
This post is divided into (i) Technology, (ii) Business & Partnerships, and (iii) Marketing & Community. I’ve tried to make the technology part readable for a broad audience. If you’ve ever tried understanding the inner workings of Bitcoin and Ethereum you should be able to grasp most parts. Otherwise, just skim through and once you are zoning out head to the next part.
 
Technology and some more:
 
Introduction
 
The technology is one of the main reasons why I’m so bullish on Zilliqa. First thing you see on their website is: “Zilliqa is a high-performance, high-security blockchain platform for enterprises and next-generation applications.” These are some bold statements.
 
Before we deep dive into the technology let’s take a step back in time first as they have quite the history. The initial research paper from which Zilliqa originated dates back to August 2016: Elastico: A Secure Sharding Protocol For Open Blockchains where Loi Luu (Kyber Network) is one of the co-authors. Other ideas that led to the development of what Zilliqa has become today are: Bitcoin-NG, collective signing CoSi, ByzCoin and Omniledger.
 
The technical white paper was made public in August 2017 and since then they have achieved everything stated in the white paper and also created their own open source intermediate level smart contract language called Scilla (functional programming language similar to OCaml) too.
 
Mainnet is live since the end of January 2019 with daily transaction rates growing continuously. About a week ago mainnet reached 5 million transactions, 500.000+ addresses in total along with 2400 nodes keeping the network decentralized and secure. Circulating supply is nearing 11 billion and currently only mining rewards are left. The maximum supply is 21 billion with annual inflation being 7.13% currently and will only decrease with time.
 
Zilliqa realized early on that the usage of public cryptocurrencies and smart contracts were increasing but decentralized, secure, and scalable alternatives were lacking in the crypto space. They proposed to apply sharding onto a public smart contract blockchain where the transaction rate increases almost linear with the increase in the amount of nodes. More nodes = higher transaction throughput and increased decentralization. Sharding comes in many forms and Zilliqa uses network-, transaction- and computational sharding. Network sharding opens up the possibility of using transaction- and computational sharding on top. Zilliqa does not use state sharding for now. We’ll come back to this later.
 
Before we continue dissecting how Zilliqa achieves such from a technological standpoint it’s good to keep in mind that a blockchain being decentralised and secure and scalable is still one of the main hurdles in allowing widespread usage of decentralised networks. In my opinion this needs to be solved first before blockchains can get to the point where they can create and add large scale value. So I invite you to read the next section to grasp the underlying fundamentals. Because after all these premises need to be true otherwise there isn’t a fundamental case to be bullish on Zilliqa, right?
 
Down the rabbit hole
 
How have they achieved this? Let’s define the basics first: key players on Zilliqa are the users and the miners. A user is anybody who uses the blockchain to transfer funds or run smart contracts. Miners are the (shard) nodes in the network who run the consensus protocol and get rewarded for their service in Zillings (ZIL). The mining network is divided into several smaller networks called shards, which is also referred to as ‘network sharding’. Miners subsequently are randomly assigned to a shard by another set of miners called DS (Directory Service) nodes. The regular shards process transactions and the outputs of these shards are eventually combined by the DS shard as they reach consensus on the final state. More on how these DS shards reach consensus (via pBFT) will be explained later on.
 
The Zilliqa network produces two types of blocks: DS blocks and Tx blocks. One DS Block consists of 100 Tx Blocks. And as previously mentioned there are two types of nodes concerned with reaching consensus: shard nodes and DS nodes. Becoming a shard node or DS node is being defined by the result of a PoW cycle (Ethash) at the beginning of the DS Block. All candidate mining nodes compete with each other and run the PoW (Proof-of-Work) cycle for 60 seconds and the submissions achieving the highest difficulty will be allowed on the network. And to put it in perspective: the average difficulty for one DS node is ~ 2 Th/s equaling 2.000.000 Mh/s or 55 thousand+ GeForce GTX 1070 / 8 GB GPUs at 35.4 Mh/s. Each DS Block 10 new DS nodes are allowed. And a shard node needs to provide around 8.53 GH/s currently (around 240 GTX 1070s). Dual mining ETH/ETC and ZIL is possible and can be done via mining software such as Phoenix and Claymore. There are pools and if you have large amounts of hashing power (Ethash) available you could mine solo.
 
The PoW cycle of 60 seconds is a peak performance and acts as an entry ticket to the network. The entry ticket is called a sybil resistance mechanism and makes it incredibly hard for adversaries to spawn lots of identities and manipulate the network with these identities. And after every 100 Tx Blocks which corresponds to roughly 1,5 hour this PoW process repeats. In between these 1,5 hour, no PoW needs to be done meaning Zilliqa’s energy consumption to keep the network secure is low. For more detailed information on how mining works click here.
Okay, hats off to you. You have made it this far. Before we go any deeper down the rabbit hole we first must understand why Zilliqa goes through all of the above technicalities and understand a bit more what a blockchain on a more fundamental level is. Because the core of Zilliqa’s consensus protocol relies on the usage of pBFT (practical Byzantine Fault Tolerance) we need to know more about state machines and their function. Navigate to Viewblock, a Zilliqa block explorer, and just come back to this article. We will use this site to navigate through a few concepts.
 
We have established that Zilliqa is a public and distributed blockchain. Meaning that everyone with an internet connection can send ZILs, trigger smart contracts, etc. and there is no central authority who fully controls the network. Zilliqa and other public and distributed blockchains (like Bitcoin and Ethereum) can also be defined as state machines.
 
Taking the liberty of paraphrasing examples and definitions given by Samuel Brooks’ medium article, he describes the definition of a blockchain (like Zilliqa) as: “A peer-to-peer, append-only datastore that uses consensus to synchronize cryptographically-secure data”.
 
Next, he states that: "blockchains are fundamentally systems for managing valid state transitions”. For some more context, I recommend reading the whole medium article to get a better grasp of the definitions and understanding of state machines. Nevertheless, let’s try to simplify and compile it into a single paragraph. Take traffic lights as an example: all its states (red, amber, and green) are predefined, all possible outcomes are known and it doesn’t matter if you encounter the traffic light today or tomorrow. It will still behave the same. Managing the states of a traffic light can be done by triggering a sensor on the road or pushing a button resulting in one traffic lights’ state going from green to red (via amber) and another light from red to green.
 
With public blockchains like Zilliqa, this isn’t so straightforward and simple. It started with block #1 almost 1,5 years ago and every 45 seconds or so a new block linked to the previous block is being added. Resulting in a chain of blocks with transactions in it that everyone can verify from block #1 to the current #647.000+ block. The state is ever changing and the states it can find itself in are infinite. And while the traffic light might work together in tandem with various other traffic lights, it’s rather insignificant comparing it to a public blockchain. Because Zilliqa consists of 2400 nodes who need to work together to achieve consensus on what the latest valid state is while some of these nodes may have latency or broadcast issues, drop offline or are deliberately trying to attack the network, etc.
 
Now go back to the Viewblock page take a look at the amount of transaction, addresses, block and DS height and then hit refresh. Obviously as expected you see new incremented values on one or all parameters. And how did the Zilliqa blockchain manage to transition from a previous valid state to the latest valid state? By using pBFT to reach consensus on the latest valid state.
 
After having obtained the entry ticket, miners execute pBFT to reach consensus on the ever-changing state of the blockchain. pBFT requires a series of network communication between nodes, and as such there is no GPU involved (but CPU). Resulting in the total energy consumed to keep the blockchain secure, decentralized and scalable being low.
 
pBFT stands for practical Byzantine Fault Tolerance and is an optimization on the Byzantine Fault Tolerant algorithm. To quote Blockonomi: “In the context of distributed systems, Byzantine Fault Tolerance is the ability of a distributed computer network to function as desired and correctly reach a sufficient consensus despite malicious components (nodes) of the system failing or propagating incorrect information to other peers.” Zilliqa is such a distributed computer network and depends on the honesty of the nodes (shard and DS) to reach consensus and to continuously update the state with the latest block. If pBFT is a new term for you I can highly recommend the Blockonomi article.
 
The idea of pBFT was introduced in 1999 - one of the authors even won a Turing award for it - and it is well researched and applied in various blockchains and distributed systems nowadays. If you want more advanced information than the Blockonomi link provides click here. And if you’re in between Blockonomi and the University of Singapore read the Zilliqa Design Story Part 2 dating from October 2017.
Quoting from the Zilliqa tech whitepaper: “pBFT relies upon a correct leader (which is randomly selected) to begin each phase and proceed when the sufficient majority exists. In case the leader is byzantine it can stall the entire consensus protocol. To address this challenge, pBFT offers a view change protocol to replace the byzantine leader with another one.”
 
pBFT can tolerate ⅓ of the nodes being dishonest (offline counts as Byzantine = dishonest) and the consensus protocol will function without stalling or hiccups. Once there are more than ⅓ of dishonest nodes but no more than ⅔ the network will be stalled and a view change will be triggered to elect a new DS leader. Only when more than ⅔ of the nodes are dishonest (66%) double-spend attacks become possible.
 
If the network stalls no transactions can be processed and one has to wait until a new honest leader has been elected. When the mainnet was just launched and in its early phases, view changes happened regularly. As of today the last stalling of the network - and view change being triggered - was at the end of October 2019.
 
Another benefit of using pBFT for consensus besides low energy is the immediate finality it provides. Once your transaction is included in a block and the block is added to the chain it’s done. Lastly, take a look at this article where three types of finality are being defined: probabilistic, absolute and economic finality. Zilliqa falls under the absolute finality (just like Tendermint for example). Although lengthy already we skipped through some of the inner workings from Zilliqa’s consensus: read the Zilliqa Design Story Part 3 and you will be close to having a complete picture on it. Enough about PoW, sybil resistance mechanism, pBFT, etc. Another thing we haven’t looked at yet is the amount of decentralization.
 
Decentralisation
 
Currently, there are four shards, each one of them consisting of 600 nodes. 1 shard with 600 so-called DS nodes (Directory Service - they need to achieve a higher difficulty than shard nodes) and 1800 shard nodes of which 250 are shard guards (centralized nodes controlled by the team). The amount of shard guards has been steadily declining from 1200 in January 2019 to 250 as of May 2020. On the Viewblock statistics, you can see that many of the nodes are being located in the US but those are only the (CPU parts of the) shard nodes who perform pBFT. There is no data from where the PoW sources are coming. And when the Zilliqa blockchain starts reaching its transaction capacity limit, a network upgrade needs to be executed to lift the current cap of maximum 2400 nodes to allow more nodes and formation of more shards which will allow to network to keep on scaling according to demand.
Besides shard nodes there are also seed nodes. The main role of seed nodes is to serve as direct access points (for end-users and clients) to the core Zilliqa network that validates transactions. Seed nodes consolidate transaction requests and forward these to the lookup nodes (another type of nodes) for distribution to the shards in the network. Seed nodes also maintain the entire transaction history and the global state of the blockchain which is needed to provide services such as block explorers. Seed nodes in the Zilliqa network are comparable to Infura on Ethereum.
 
The seed nodes were first only operated by Zilliqa themselves, exchanges and Viewblock. Operators of seed nodes like exchanges had no incentive to open them for the greater public. They were centralised at first. Decentralisation at the seed nodes level has been steadily rolled out since March 2020 ( Zilliqa Improvement Proposal 3 ). Currently the amount of seed nodes is being increased, they are public-facing and at the same time PoS is applied to incentivize seed node operators and make it possible for ZIL holders to stake and earn passive yields. Important distinction: seed nodes are not involved with consensus! That is still PoW as entry ticket and pBFT for the actual consensus.
 
5% of the block rewards are being assigned to seed nodes (from the beginning in 2019) and those are being used to pay out ZIL stakers. The 5% block rewards with an annual yield of 10.03% translate to roughly 610 MM ZILs in total that can be staked. Exchanges use the custodial variant of staking and wallets like Moonlet will use the non-custodial version (starting in Q3 2020). Staking is being done by sending ZILs to a smart contract created by Zilliqa and audited by Quantstamp.
 
With a high amount of DS; shard nodes and seed nodes becoming more decentralized too, Zilliqa qualifies for the label of decentralized in my opinion.
 
Smart contracts
 
Let me start by saying I’m not a developer and my programming skills are quite limited. So I‘m taking the ELI5 route (maybe 12) but if you are familiar with Javascript, Solidity or specifically OCaml please head straight to Scilla - read the docs to get a good initial grasp of how Zilliqa’s smart contract language Scilla works and if you ask yourself “why another programming language?” check this article. And if you want to play around with some sample contracts in an IDE click here. The faucet can be found here. And more information on architecture, dapp development and API can be found on the Developer Portal.
If you are more into listening and watching: check this recent webinar explaining Zilliqa and Scilla. Link is time-stamped so you’ll start right away with a platform introduction, roadmap 2020 and afterwards a proper Scilla introduction.
 
Generalized: programming languages can be divided into being ‘object-oriented’ or ‘functional’. Here is an ELI5 given by software development academy: * “all programs have two basic components, data – what the program knows – and behavior – what the program can do with that data. So object-oriented programming states that combining data and related behaviors in one place, is called “object”, which makes it easier to understand how a particular program works. On the other hand, functional programming argues that data and behavior are different things and should be separated to ensure their clarity.” *
 
Scilla is on the functional side and shares similarities with OCaml: OCaml is a general-purpose programming language with an emphasis on expressiveness and safety. It has an advanced type system that helps catch your mistakes without getting in your way. It's used in environments where a single mistake can cost millions and speed matters, is supported by an active community, and has a rich set of libraries and development tools. For all its power, OCaml is also pretty simple, which is one reason it's often used as a teaching language.
 
Scilla is blockchain agnostic, can be implemented onto other blockchains as well, is recognized by academics and won a so-called Distinguished Artifact Award award at the end of last year.
 
One of the reasons why the Zilliqa team decided to create their own programming language focused on preventing smart contract vulnerabilities is that adding logic on a blockchain, programming, means that you cannot afford to make mistakes. Otherwise, it could cost you. It’s all great and fun blockchains being immutable but updating your code because you found a bug isn’t the same as with a regular web application for example. And with smart contracts, it inherently involves cryptocurrencies in some form thus value.
 
Another difference with programming languages on a blockchain is gas. Every transaction you do on a smart contract platform like Zilliqa or Ethereum costs gas. With gas you basically pay for computational costs. Sending a ZIL from address A to address B costs 0.001 ZIL currently. Smart contracts are more complex, often involve various functions and require more gas (if gas is a new concept click here ).
 
So with Scilla, similar to Solidity, you need to make sure that “every function in your smart contract will run as expected without hitting gas limits. An improper resource analysis may lead to situations where funds may get stuck simply because a part of the smart contract code cannot be executed due to gas limits. Such constraints are not present in traditional software systems”. Scilla design story part 1
 
Some examples of smart contract issues you’d want to avoid are: leaking funds, ‘unexpected changes to critical state variables’ (example: someone other than you setting his or her address as the owner of the smart contract after creation) or simply killing a contract.
 
Scilla also allows for formal verification. Wikipedia to the rescue: In the context of hardware and software systems, formal verification is the act of proving or disproving the correctness of intended algorithms underlying a system with respect to a certain formal specification or property, using formal methods of mathematics.
 
Formal verification can be helpful in proving the correctness of systems such as: cryptographic protocols, combinational circuits, digital circuits with internal memory, and software expressed as source code.
 
Scilla is being developed hand-in-hand with formalization of its semantics and its embedding into the Coq proof assistant — a state-of-the art tool for mechanized proofs about properties of programs.”
 
Simply put, with Scilla and accompanying tooling developers can be mathematically sure and proof that the smart contract they’ve written does what he or she intends it to do.
 
Smart contract on a sharded environment and state sharding
 
There is one more topic I’d like to touch on: smart contract execution in a sharded environment (and what is the effect of state sharding). This is a complex topic. I’m not able to explain it any easier than what is posted here. But I will try to compress the post into something easy to digest.
 
Earlier on we have established that Zilliqa can process transactions in parallel due to network sharding. This is where the linear scalability comes from. We can define simple transactions: a transaction from address A to B (Category 1), a transaction where a user interacts with one smart contract (Category 2) and the most complex ones where triggering a transaction results in multiple smart contracts being involved (Category 3). The shards are able to process transactions on their own without interference of the other shards. With Category 1 transactions that is doable, with Category 2 transactions sometimes if that address is in the same shard as the smart contract but with Category 3 you definitely need communication between the shards. Solving that requires to make a set of communication rules the protocol needs to follow in order to process all transactions in a generalised fashion.
 
And this is where the downsides of state sharding comes in currently. All shards in Zilliqa have access to the complete state. Yes the state size (0.1 GB at the moment) grows and all of the nodes need to store it but it also means that they don’t need to shop around for information available on other shards. Requiring more communication and adding more complexity. Computer science knowledge and/or developer knowledge required links if you want to dig further: Scilla - language grammar Scilla - Foundations for Verifiable Decentralised Computations on a Blockchain Gas Accounting NUS x Zilliqa: Smart contract language workshop
 
Easier to follow links on programming Scilla https://learnscilla.com/home Ivan on Tech
 
Roadmap / Zilliqa 2.0
 
There is no strict defined roadmap but here are topics being worked on. And via the Zilliqa website there is also more information on the projects they are working on.
 
Business & Partnerships
 
It’s not only technology in which Zilliqa seems to be excelling as their ecosystem has been expanding and starting to grow rapidly. The project is on a mission to provide OpenFinance (OpFi) to the world and Singapore is the right place to be due to its progressive regulations and futuristic thinking. Singapore has taken a proactive approach towards cryptocurrencies by introducing the Payment Services Act 2019 (PS Act). Among other things, the PS Act will regulate intermediaries dealing with certain cryptocurrencies, with a particular focus on consumer protection and anti-money laundering. It will also provide a stable regulatory licensing and operating framework for cryptocurrency entities, effectively covering all crypto businesses and exchanges based in Singapore. According to PWC 82% of the surveyed executives in Singapore reported blockchain initiatives underway and 13% of them have already brought the initiatives live to the market. There is also an increasing list of organizations that are starting to provide digital payment services. Moreover, Singaporean blockchain developers Building Cities Beyond has recently created an innovation $15 million grant to encourage development on its ecosystem. This all suggests that Singapore tries to position itself as (one of) the leading blockchain hubs in the world.
 
Zilliqa seems to already take advantage of this and recently helped launch Hg Exchange on their platform, together with financial institutions PhillipCapital, PrimePartners and Fundnel. Hg Exchange, which is now approved by the Monetary Authority of Singapore (MAS), uses smart contracts to represent digital assets. Through Hg Exchange financial institutions worldwide can use Zilliqa's safe-by-design smart contracts to enable the trading of private equities. For example, think of companies such as Grab, Airbnb, SpaceX that are not available for public trading right now. Hg Exchange will allow investors to buy shares of private companies & unicorns and capture their value before an IPO. Anquan, the main company behind Zilliqa, has also recently announced that they became a partner and shareholder in TEN31 Bank, which is a fully regulated bank allowing for tokenization of assets and is aiming to bridge the gap between conventional banking and the blockchain world. If STOs, the tokenization of assets, and equity trading will continue to increase, then Zilliqa’s public blockchain would be the ideal candidate due to its strategic positioning, partnerships, regulatory compliance and the technology that is being built on top of it.
 
What is also very encouraging is their focus on banking the un(der)banked. They are launching a stablecoin basket starting with XSGD. As many of you know, stablecoins are currently mostly used for trading. However, Zilliqa is actively trying to broaden the use case of stablecoins. I recommend everybody to read this text that Amrit Kumar wrote (one of the co-founders). These stablecoins will be integrated in the traditional markets and bridge the gap between the crypto world and the traditional world. This could potentially revolutionize and legitimise the crypto space if retailers and companies will for example start to use stablecoins for payments or remittances, instead of it solely being used for trading.
 
Zilliqa also released their DeFi strategic roadmap (dating November 2019) which seems to be aligning well with their OpFi strategy. A non-custodial DEX is coming to Zilliqa made by Switcheo which allows cross-chain trading (atomic swaps) between ETH, EOS and ZIL based tokens. They also signed a Memorandum of Understanding for a (soon to be announced) USD stablecoin. And as Zilliqa is all about regulations and being compliant, I’m speculating on it to be a regulated USD stablecoin. Furthermore, XSGD is already created and visible on block explorer and XIDR (Indonesian Stablecoin) is also coming soon via StraitsX. Here also an overview of the Tech Stack for Financial Applications from September 2019. Further quoting Amrit Kumar on this:
 
There are two basic building blocks in DeFi/OpFi though: 1) stablecoins as you need a non-volatile currency to get access to this market and 2) a dex to be able to trade all these financial assets. The rest are built on top of these blocks.
 
So far, together with our partners and community, we have worked on developing these building blocks with XSGD as a stablecoin. We are working on bringing a USD-backed stablecoin as well. We will soon have a decentralised exchange developed by Switcheo. And with HGX going live, we are also venturing into the tokenization space. More to come in the future.”
 
Additionally, they also have this ZILHive initiative that injects capital into projects. There have been already 6 waves of various teams working on infrastructure, innovation and research, and they are not from ASEAN or Singapore only but global: see Grantees breakdown by country. Over 60 project teams from over 20 countries have contributed to Zilliqa's ecosystem. This includes individuals and teams developing wallets, explorers, developer toolkits, smart contract testing frameworks, dapps, etc. As some of you may know, Unstoppable Domains (UD) blew up when they launched on Zilliqa. UD aims to replace cryptocurrency addresses with a human-readable name and allows for uncensorable websites. Zilliqa will probably be the only one able to handle all these transactions onchain due to ability to scale and its resulting low fees which is why the UD team launched this on Zilliqa in the first place. Furthermore, Zilliqa also has a strong emphasis on security, compliance, and privacy, which is why they partnered with companies like Elliptic, ChainSecurity (part of PwC Switzerland), and Incognito. Their sister company Aqilliz (Zilliqa spelled backwards) focuses on revolutionizing the digital advertising space and is doing interesting things like using Zilliqa to track outdoor digital ads with companies like Foodpanda.
 
Zilliqa is listed on nearly all major exchanges, having several different fiat-gateways and recently have been added to Binance’s margin trading and futures trading with really good volume. They also have a very impressive team with good credentials and experience. They don't just have “tech people”. They have a mix of tech people, business people, marketeers, scientists, and more. Naturally, it's good to have a mix of people with different skill sets if you work in the crypto space.
 
Marketing & Community
 
Zilliqa has a very strong community. If you just follow their Twitter their engagement is much higher for a coin that has approximately 80k followers. They also have been ‘coin of the day’ by LunarCrush many times. LunarCrush tracks real-time cryptocurrency value and social data. According to their data, it seems Zilliqa has a more fundamental and deeper understanding of marketing and community engagement than almost all other coins. While almost all coins have been a bit frozen in the last months, Zilliqa seems to be on its own bull run. It was somewhere in the 100s a few months ago and is currently ranked #46 on CoinGecko. Their official Telegram also has over 20k people and is very active, and their community channel which is over 7k now is more active and larger than many other official channels. Their local communities also seem to be growing.
 
Moreover, their community started ‘Zillacracy’ together with the Zilliqa core team ( see www.zillacracy.com ). It’s a community-run initiative where people from all over the world are now helping with marketing and development on Zilliqa. Since its launch in February 2020 they have been doing a lot and will also run their own non-custodial seed node for staking. This seed node will also allow them to start generating revenue for them to become a self sustaining entity that could potentially scale up to become a decentralized company working in parallel with the Zilliqa core team. Comparing it to all the other smart contract platforms (e.g. Cardano, EOS, Tezos etc.) they don't seem to have started a similar initiative (correct me if I’m wrong though). This suggests in my opinion that these other smart contract platforms do not fully understand how to utilize the ‘power of the community’. This is something you cannot ‘buy with money’ and gives many projects in the space a disadvantage.
 
Zilliqa also released two social products called SocialPay and Zeeves. SocialPay allows users to earn ZILs while tweeting with a specific hashtag. They have recently used it in partnership with the Singapore Red Cross for a marketing campaign after their initial pilot program. It seems like a very valuable social product with a good use case. I can see a lot of traditional companies entering the space through this product, which they seem to suggest will happen. Tokenizing hashtags with smart contracts to get network effect is a very smart and innovative idea.
 
Regarding Zeeves, this is a tipping bot for Telegram. They already have 1000s of signups and they plan to keep upgrading it for more and more people to use it (e.g. they recently have added a quiz features). They also use it during AMAs to reward people in real-time. It’s a very smart approach to grow their communities and get familiar with ZIL. I can see this becoming very big on Telegram. This tool suggests, again, that the Zilliqa team has a deeper understanding of what the crypto space and community needs and is good at finding the right innovative tools to grow and scale.
 
To be honest, I haven’t covered everything (i’m also reaching the character limited haha). So many updates happening lately that it's hard to keep up, such as the International Monetary Fund mentioning Zilliqa in their report, custodial and non-custodial Staking, Binance Margin, Futures, Widget, entering the Indian market, and more. The Head of Marketing Colin Miles has also released this as an overview of what is coming next. And last but not least, Vitalik Buterin has been mentioning Zilliqa lately acknowledging Zilliqa and mentioning that both projects have a lot of room to grow. There is much more info of course and a good part of it has been served to you on a silver platter. I invite you to continue researching by yourself :-) And if you have any comments or questions please post here!
submitted by haveyouheardaboutit to CryptoCurrency [link] [comments]

Great video on Bitcoin protocol development & philosophy

This was a discussion between MIT Digital Currency Initiative's Neha Narula and Lightning Lab's Elizabeth Stark that happened a few days ago about Bitcoin development. I think as investors/traders it's important for us to stay up to date on what is happening in the development of the tech in order to make good trading/investing decisions.
Here are the most significant quotes, in my opinion (most from Neha):
3:12 - On protocol development
I think that there are four key areas to think about when you think about what's happening in Bitcoin core and what kinds of updates are being made. I've been listening along this morning its been a lot about bitcoin as an asset and digital currency as an asset class. Now we're going to talk about it as a technology, which id what it was originally and what it always will be and what the asset class depends on. I think the key thing to remember with Bitcoin is that they're always trying to improve four key areas: Better privacy, which makes it harder to censor transactions. Better performance which makes it easier to run a full node and therefore makes the network more decentralized. Better robustness, making it harder to attack in general. And then, functionality.
4:32 - On development philosophy
Another big part of the philosophy I think and something that's driving a lot of the new functionality changes is we really need to minimize what goes on chain. So this is in pretty stark contrast to a lot of smart contract platforms which execute every step of every smart contract on chain. It's like you take the program you want to run, you put the whole thing on the chain. Bitcoin's going for a slightly different approach, that approach is let's do as little on chain as possible. [Stark asks where this originated from, if Satoshi had some of these ideas] Yea, I think whoever designed Bitcoin script was definitely thinking a lot about this. It comes from the fact that, A blockchain is replicated across thousands of nodes, and hopefully one day millions if not billions of nodes, you can't execute everything that way you gotta be really careful you gotta think about what goes on chain. I think that's part of the ethos, and that's where we see things like Taproot/Schnorr.
5:37 - On what Taproot/Schnorr is
6:43 - On the speed of Bitcoin development
Bitcoin development is a little slow, but the reason is because there's nobody in charge..and people care a lot about robustness and they really care about doing good code review and making sure that this stuff is solid before it gets in.
7:30 - More on the philosophy of development
The base chain needs to be as simple as possible and needs to have the hooks necessary to support higher level functionality, that's the idea. [Stark comments on not having the complexity in the middle of the network]. We're building bitcoin to be around for centuries. The idea here is you put as little as possible into that base layer. You don't want to involve the base layer, you don't want to be constantly be re-writing the base layer. You want to have a base layer that is really, really robust. Something we've seen a lot is complexity is really the enemy of security. If you have a very complicated protocol, if you have really complicated functionality, guess what? That's a huge attack surface. The whole point of this technology is to be secure. We're removing the trusted third party, we're relying on cryptography and software and so that really needs to be secure, and sometimes I just think people do not take that seriously enough.
10:07 - More on the philosophy of development
We are building software that is supposed to run for a very long time. If there's anything that I can tell people about today, it's to tell them about this philosophy, this mindset of trying to build software that is super robust. And that's sort of the interesting thing that have been happening in Bitcoin development too, like one big change is removing code. They removed openSSL which is a library for a lot of cryptographic function and this was super celebrated because a third party library is a source of bugs, a source of consensus failure, people have different versions on their machine. So removing this was a huge win, actually. Makes the network more secure.
11:07 - On mainstream adoption and what that means
13:20 - On funding open-source development
15:21 - On the Lightning Network (goes until end)
Side note: In my opinion, this is one of the reasons why Bitcoin has and will continue to succeed: there are word-class developers and scientists improving the protocol. I mean, just look at these people's fucking pedigrees:
Stark previously taught at Stanford and Yale University about the future of the internet, and was a visiting fellow at Yale’s Information Society Project...She has advised startups ranging from decentralized technology to AI and was an entrepreneur-in-residence at Stanford StartX. Stark holds a J.D. from Harvard.
Source: https://www.crunchbase.com/person/elizabeth-stark#section-overview
Neha attended Dartmouth College and earned her B.A. in computer science and mathematics in 2003. She recieved he M.S. in computer science from MIT as well as her Ph.D. from MIT in 2015. Her doctoral thesis was titled Parallel Execution for Conflicting Transcactions. For over seven and a half years, Neha was a Senior Software Engineer at Google. In the summer of 2012, Neha was a Data Scientist at Digg. She has been a Director of Research of Digital Currency at the MIT Media Lab since 2016 and the Director of the MIT Digital Currency Initiative since 2017.
Source: https://www.linkedin.com/in/nnarula/, https://everipedia.org/wiki/lang_en/neha-narula
The story is the same for many developers at the MIT DCI, Chaincode, Lightning Labs, and the many other groups/companies that develop Bitcoin- all are highly experienced and come from top/ivy-league universities around the world.
submitted by monkeyhold99 to CryptoCurrency [link] [comments]

XMR.RU-report (APRIL)

Hello community!
Here is report from XMR.RU-team.
The following articles/manuals were translated into Russian and posted not only on XMR.RU but also on Bitcointalk, Bits.Media, different crypto-chats, etc.
If you would like to read the original article in English, then, open the article you are interested in, and at the end of each article you will find a link to the source.
Articles that are currently under review and will be published shortly:
Monero Video News (I expect a couple of likes from you to make Youtube algorithms offer our videos to a wide range of people):
---
I don't know you. Who are you?
We are the biggest local Monero community from Russia, Ukraine, Belarus etc.
You can support our enthusiasm in spreading information about Monero among the CIS countries!
XMR: 42CxJrG1Q8HT9XiXJ1Cim4Sz18rM95UucEBeZ3x6YuLQUwTn6UWo9ozeA7jv13v8H1FvQn9dgw1Gw2VMUqdvVN1T9izzGEt
If you' re using the CLI:
transfer donate.xmr.ru
Here you can find the viewkey from our wallet, and see how donations are spent.
---
P.S. I would like to remind you that we are a non-profit community and we do not advertise on our forum, Telegram Chat / News Channel, etc. We have been asked to place ads more than once, but we always refuse.
submitted by TheFuzzStone to Monero [link] [comments]

What A Day: Kemporary Insanity by Sarah Lazarus & Crooked Media (07/16/20)

"I don’t have Bitcoin, and I’ll never ask you to send me any." - Joe Biden, with the most keepable promise of his campaign to date

Why Can't ICU

Multiple states are poised to run out of hospital beds and supplies, the White House has seized control of new hospitalization data, and some Republican leaders are still actively thwarting measures that keep people out of the hospital. What could go wrong?
Outside the White House, some Republicans have read the polls and opted to rescind whatever loyalty they had left.
This week marks a disturbing new chapter in the pandemic, with the Trump administration further compromising the transparency of public-health data and ramping up its purge of officials seen as potential leakers. If ever there was ever a moment for congressional Democrats to loudly demand answers, this would be it.

Look No Further Than The Crooked Media

Last week the Supreme Court dropped a historic ruling on a case determining the reservation status of Eastern Oklahoma—the very case that the Crooked podcast This Land explored last year.
Today, Cherokee journalist and This Land host Rebecca Nagle released a bonus episode breaking down what this Supreme Court decision means, and what’s next. You can listen to season one of This Land on Apple Podcasts or anywhere you listen to podcasts—plus the just-dropped bonus explainer episode—out now

Under The Radar

The Supreme Court just dealt a major setback to restoring the voting rights of people with felony convictions in Florida. The Court’s conservative majority left in place a temporary federal appeals court order staying a lower-court ruling that should have cleared the way for hundreds of thousands of Floridians to vote. As a result, people in the state who have completed felony sentences but still have outstanding court fines or fees remain barred from voting. For those keeping score: The Roberts Five will intervene to block orders that make it easier to vote (see: Wisconsin, etc.) but will not intervene to block orders that make it harder to vote.
There are a few levels of cruelty here. First off, this is an unconstitutional poll tax, plain and simple. Second, Florida frequently has no idea how much these voters owe: even when they can afford to pay, it’s often impossible for them to do so. And most insanely, as Justice Sonya Sotomayor noted in her dissent, voters who registered before this ruling was stayed will remain on the rolls, but won’t be notified that they’re once again ineligible, and thus could be prosecuted for trying to vote. The fight isn’t over, but it’s unclear if it will be resolved before November. If you’re in a position to give, you can help with a contribution to the Florida Rights Restoration Coalition. Also, adopt Florida.

What Else?

Russian hackers have tried to steal coronavirus vaccine information, according to the U.S., U.K., and Canada. The hackers have targeted organizations researching vaccines with spear-phishing and malware. The U.K. has also accused Russia of trying to meddle in its 2019 election by leaking sensitive U.S. trade documents.
Anywho, good thing President Trump ordered U.S. intelligence to share more information with the Kremlin, which Russia has been using to (checks notes) try to assassinate Chechen dissidents in Europe.
Centers for Medicare and Medicaid Services chief Seema Verma violated federal rules when she steered millions of dollars in contracts to GOP allies, according to the HHS inspector general.
The Justice Department carried out a second federal execution following a late-night, divided Supreme Court ruling. Wesley Purkey was killed by lethal injection in spite of pending litigation about his competency to be executed. Quite a 24 hours for the Roberts Five.
Trump demoted Brad Parscale from his role as campaign manager, replacing him with Bill Stepien. Parscale won’t be going far—he built the campaign’s digital operation, and his private company provides a handy means of funneling money to Eric Trump’s wife and Don Jr.’s girlfriend.
In other corrupt mishandling of campaign funds, the Trump Victory PAC paid about $400,000 to the Trump International Hotel between April and June, and Trump’s for profit businesses have pocketed at least $970,000 in federal funds, and probably much, much more than that.
George Floyd’s family has filed a civil rights lawsuit against Minneapolis and the police officers involved in his death. Newly available police camera footage showed Floyd pleading for his life during his fatal arrest.
More than 80 people were arrested outside the home of Kentucky’s attorney general, where they were demanding justice for the police killing of Breonna Taylor.
Bestselling author Mary Trump said she witnessed “knee-jerk antisemitism, a knee-jerk racism” among her family: “Growing up, it was sort of normal to hear them use the n-word or use antisemitic expressions.”
Just making sure everyone knows about Ziwe Fumudoh?

Be Smarter

The Trump administration may impose a travel ban on members of China’s Communist Party and their families. It’s a little easier said than done: The Chinese Communist Party has 92 million members, and the U.S. has no easy way of identifying them. The draft of the plan would also authorize the government to revoke the visas of CCP members who are already in the country. The ban would be the Trump administration’s most aggressive move against China since Trump initiated the trade war in 2018, and would almost certainly provoke retaliation against Americans looking to visit or stay in China.

What A Sponsor

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Ready to unleash your full brain power? For a limited time, head over to https://beekeepersnaturals.com and take 15% off your order with code: WHATADAY

Is That Hope I Feel?

Oxford scientists found early evidence that their potential coronavirus vaccine provides “double protection”: volunteers who received the vaccine showed both antibody and T-cell responses. If all goes well in future trials, that vaccine could be available as soon as September.
New polling research found that Americans are overwhelmingly in favor of bold government action on climate change, and skeptical of Republican attacks on climate action.
Target and CVS are the latest major retailers to require customers to wear masks.
LGBTQ political representation increased by 21 percent in the past year.

Enjoy

Carey O'Donnell on Twitter: "Ivanka talking to her gay friend one night while abroad during junior year of college"
submitted by kittehgoesmeow to FriendsofthePod [link] [comments]

16 Apps That Will Earn You Passive Cash Back (Best Passive Saving Apps 2020)

This is the updated 2020 Q1/Q2 version of this post. If you remember reading the previous iteration of this post, there are several changes to the list this time around. Some new additions, and some removals.
Note: Most of these apps will be US only, with a minimum age requirement of 18.
Having said that, let's get right into it.

16 Passive Cash Back Apps 2020

Pei (Ref)

Pei is an automatic cash back app. When you sign up, you'll link a debit/credit card and you'll then automatically start earning cash back as you shop at certain Pei merchants (listed just below). There are so many merchants with Pei that you'll likely find yourself accidentally earning cash back on the app, without even knowing it. Pei is an app that you can really just link a card and then check back weeks later and surprise yourself with the money you've earned. Pei deserves the top spot in this post because of how consistent it is, and just how many places you can earn cash back with it. You can cash out instantly as soon as you reach $25 in your account. If you sign up with a referral code, you'll get a $2.50 bonus once you spend at a Pei merchant. You can use the referral code found on the most common Beermoney Sites thread here.

Pros of Pei:

So with all of that being said, let's talk about the stores you can find on Pei. Just note that these are only stores that are local to me, so if I don't have a certain store near me that Pei offers, I won't have it on this list. Additionally, Pei actually offers so many stores at this point that there's no way for me to actually keep this list up to date at all. There have been countless times where I've shopped somewhere that doesn't even come up as an option to earn with Pei but I'll see cash back listed on the app. It's really quite impressive.
In addition to receiving cash back at many locations, Pei also has a 'loyalty bonus' where if you shop at a certain store 5x you'll earn a bonus of up to $100 (but usually way less).
Pei Also just released a new feature called "Party Cash". Basically with Party Cash if you ever go shopping somewhere with your friends who also have Pei, you can start a party, and for each friend you shop with, each person will get a +1% bonus. For example, if I go shopping at Target with 2 other friends and we all start a Party Cash on Pei, we'll each get 1% (for usual cash back) plus 2% cash back from Party Cash, for a total of 3% cash back.
Most stores do have a $5 daily/weekly earning limit, so do be aware that if you spend more than ~$500, you'll likely reach an earning cap.

Dosh (Nonref)

Ref: KJK6

Dosh is one fastest growing cash back apps on this list. Similar to Pei, it's a card linked program where you'll automatically earn cash back when you shop at several local and national brands. On average you'll earn 3-5% cash back when you shop at the brands featured on Dosh. As soon as you hit $25 in your balance, you can cash out to PayPal.
The biggest downfall of Dosh is that the offers in the app change frequently, and the offers are targeted, meaning that not everyone will see the same offers.
Below are some of the current offers for instant cash back that you might find on Dosh. Note that only instant cash back offers found on the app will earn you cash back automatically when you spend with your card.
Dosh also does have a generous referral program where you'll get $5 when you sign up and link a card, and so will the referrer. If you'd like to, you can enter my code, KJK6 or use my referral link (nonref)
BTW, If you've heard of Dosh before, that might make sense. If you use Venmo and have the Venmo debit card, they recently introduced Venmo Rewards, which is powered by Dosh.

HOOCH Rewards (Ref Link)

HOOCH has earned the number 3 spot on this list this time around because of all the programs on this list, it has remained consistent. HOOCH will automatically earn you cash back when you link a credit/debit card whenever you shop at several national brands.
If you understand how Pei or Dosh above works, there's not really much more to say about HOOCH's cash back system.
You'll instantly earn 1% cash back at the following national brands:
  • Uber
  • iTunes
  • Starbucks
  • Domino's
  • Netflix
  • Shake Shack
  • Spotify
  • Audible
  • Redbox
  • Uber Eats
  • Hulu
  • In-N-Out
  • Chipotle
In addition to 1% cash back at the national brands, here are some other ways you'll earn with HOOCH:
  • Connecting your first card ($5 bonus)
  • Drink at a HOOCH Venue (5%)
  • Book a Hotel (5%)
  • Dine at a HOOCH Venue (5%)
  • Refer friends
HOOCH started a long while back as a subscription app where you'll buy a subscription and you'll get a free drink at a HOOCH venue every day. The venues are extremely limited, so a majority of the people reading this won't find any value in that plan. Dining is just as rare.
Their referral system appears to be pretty generous. They're currently offering a $5 bonus for signing up, as well as $1 for the referrer, as well as a 20% bonus on their earnings for life. Here's my referral link, and a nonref link :)
Here's the downfall of HOOCH:
You can only cash out for gift cards, and the minimum is $25.
For most people, this is a really big disadvantage of this app. Assuming that most people will only be earning through the 1% cash back brands, the minimum you'll need to spend in order to his the cash out minimum is $2500, which would likely take most people a really long time, since the brand options are not places where you're likely to spend a lot of money frequently...like, for example, a grocery store.
But still, you could probably earn yourself a few free gift cards every once in a while for a totally passive app.

Bumped (Sign up & join waitlist!)

Bumped is an investing app, when you really boil it down. When you sign up you'll select one brand in each category (there are a lot of categories, you'll see below), and each time you shop at the selected brand, you'll earn the certain specified purchase back in the form of company stock. This is unique to all of the other apps on this list, because you're actually receiving company stock. Also, because of this, I think it's very important to note that in order to sign up for Bumped you'll need to enter your SSN since you will be opening up a brokerage account.
As of posting, the following are the category options that you can choose from:
I've bolded the brands I selected. Obviously you should pick a brand that you can find yourself using the most. Do note that if you pick a brand that you might want to change later, you'll get the opportunity to change your brands 3 times a year, at least 30 days in between.
Category Options
Burgers 3% at Jack in the Box
3% at McDonald's
3% at Wendy's
Coffee 2% at Dunkin' Donuts
2% at Starbucks
Drug Stores 2% at CVS
1% at Walgreens
Family Dining 2% at Applebees
2% at Chili's
2% at Olive Garden
2% at Red Robin
Grocery 1% at Kroger Family of Stores
Home Improvement 0.5% at The Home Depot
Mexican Food 2% at Chipotle Mexican Grill
2% at Taco Bell
Music Subscriptions 1% at Pandora
5% at Spotify
Pizza 1% at Domino's
5% at Papa John's
2% at Pizza Hut
Ride Sharing 0.5% at Lyft
0.5% at Uber
Superstores 1% at Target
1% at Walmart
Telecommunications 0.5% at AT&T
0.5% at T-Mobile
0.5% at Verizon Wireless
Video Subscriptions 1% at Netflix
5% at Sling TV
Vineyards 1% at Willamette Valley Vineyards
One thing that is listed on the app is that if you want to move your way up on the waitlist you can refer your friends to join the waitlist as well.

Bits

Bits (of stock) is very similar to Bumped. It's better in some ways, but worse in most.
Similar to Bumped, there's a waitlist. Note that Bits is currently only available on iOS, but they have teased a version for Android will be coming.
So, here's the issue with Bits...
There's no brokerage accounts set up.
If you're not sure what that means, basically in order for you to actually own and trade stocks, you'll need to do it through a brokerage account. For example, if you use Robinhood, you own a brokerage account at Robinhood. If you use TD Ameritrade, you'll have a brokerage account at TD Ameritrade. So basically the app will say that you're getting stock back as you spend, but there's no way to actually sell your stock. Basically what I'm saying is that until the brokerage account is added, you're really just receiving play money. Bits has been extremely silent about the release of the brokerage accounts... I asked them back in December and they said they were aiming to release it "next month". Three months have passed since then, so I asked last week and they again said the same thing.. the goal is a release next month (April). We'll just have to wait and see. The point here is -- assume you're not earning anything with Bits until they add the brokerage accounts. This post will be updated once the accounts are added.
So, as for the actual cash back from Bits, you're able to choose 15 brands (that you can change at any time). I'll list the brands you can choose from below. What's interesting is that when the app first launched, all of the brands offered a 2% CB rate (which is unsustainably high). The rates have since come down to 0.5% for all brands.
To save characters, here's a recording of me scrolling through the brands offered. If you don't want to watch that video, just know that there are a lot of brands to choose from.

Ibotta (Ref Link)

Ibottais a cash back app that has been around for years, but this is its first time being added to this list. When the app originally launched, you would earn on the app by selecting cash back products that you could purchase and receive a rebate. Once you selected products you wanted to purchase, you would then scan the products after purchasing them to confirm your purchase, and then submit a photo of your receipt.
That doesn't sound too passive, now, does it?
Well, over the last little while, the app has come a very long way. In most cases you no longer need to select rebates you want to purchase, and in most cases you don't even need to scan a receipt, if you're shopping somewhere where you can link a rewards membership.
For example, I shop at Meijer and Target primarily for groceries. Both of these stores allow me to link my accounts with the stores, so for Target any time I shop and spend using a credit card that is linked to my Target account, I'll get cash back automatically. Same thin for Meijer. As soon as I enter my mPerks phone number, I'll get cash back.
What's great is that you don't even have to select offers anymore. So this is one of those cases where you might accidentally get cash back. Also, just to clarify, you're getting cash back for the products you purchase, not the place that you're shopping... which is different than most of the other apps featured on this list.
Even if you don't purchase a product that qualifies for a rebate, you'll probably find yourself earning cash back almost every time you shop because Ibotta has several "Any" offers, meaning any time you buy "any" kind of a product, say.. blinker fluid, for example, you'll earn cash back for your blinker fluid purchase regardless of the brand. These offers are optimal for cash back.
I personally went a whole couple months without opening Ibotta and I showed up to $50 in cash back from purchases I didn't even know I was getting cash back for.
Another newer feature of the app (which isn't passive) is Ibotta Pay. Ibotta Pay is basically just a glorified way of purchasing gift cards and receiving cash back for the gift card purchase.
In addition to this cash back, you'll also find several bonuses where if you redeem x offers, you'll get a certain $ boost. For example, I currently have an offer for a $10 bonus if I redeem 14 offers before the bonus expires in just a few days. I've redeemed 2 so far, so I'm not sure if I'll be getting there in time. (BTW, if you're ever cutting it close, just note that Ibotta Pay will work where each gift card purchase will qualify for a completed offer ;))
Ibotta also does have a generous referral program. They do referral offers very frequently where you can earn bonuses, but the current offer is $4 for each friend you invite. Please consider using the referral link found in the Most Common Beermoney Sites thread.

Uber Visa Local Offers

Shop or dine out, get Uber credits back.
Use your Visa card next time you dine out or go on a shopping spree at a featured store and earn Uber credits toward future rides. To join, go to settings in your Uber app and tap on Visa Local Offers.
Whenever you shop out at certain places you'll instantly receive uber credits to your account. It's really simple, and yes, this does stack with all of the other cash back apps you might be a part of.
The brands they offer do change semi-frequently, so you should check them from time to time.
In the past there have been 100% cash back offers for streaming services, and 10-20% cash back at Sam's Club. Considering that these offers do stack, there is some really great potential if you find any value in uber credit.
If you're interested in activating the Visa local offers, you'll need to make sure you have a visa card linked to your Uber account first, and then you should see "activate local offers" in the app settings or payment settings of Uber.
There's really not much to say about Visa Local Offers, but if you're looking for some FAQ/Terms, feel free to check them all out here.

Cash App "Boosts"

For those if you who don't know what Cash App is, Cash App is an app by Square that lets you send and receive payments. They've also expanded their app to support bitcoin purchases, and they'll also let you use the app as a checking account. With the cash app you can also sign up to receive the Cash Card, which is a debit card that is funded with your cash app balance.
If you have not used Cash App before, they do have a fancy referral program where when you sign up and send $50 you'll receive $5 and so will I. I do want to make this very clear: Cash App referrals can see the full name of the person who refers you, and the person who refers you will have your full name shown to them. If you're really private about personal information, be careful whose referral link you use. If you trust me, here's my referral link.
Please note that if you want to use the cash app boosts that I'm talking about, you'll need to be 18 years old and have the cash card (which is free, don't worry)!
Cash App announced that their cash card will be seeing 'boosts'. Boosts are their fancy way of saying that when you use our card at certain locations you'll receive a discount.
Once you have the cash card, you'll notice on the app below your card you'll be able to select your boost. The following are my personal boost options, as of posting. The boosts change frequently,
  • $5 Off One Order on DoorDash
  • 10% Off One Visit at Any Grocery Store
  • 10% Off One Visit at Dollar Tree
  • 10% Off One Visit at Walgreens
  • 10% Off One Visit at Nike
  • 10% Off One Visit at Walmart
  • $5 Off One Ride at Lyft
  • 10% Off Each Visit at Bath & Body Works
  • 10% Off Each Visit at Playstation Network
  • 10% Off Each Visit at Xbox
  • 10% off Each Visit at Chick-Fil-A
  • 10% Off Each Visit at Taco Bell
  • 10% Off Each Visit at Dominos
  • 10% Off Each Visit at Portillo's.
Boosts tend to change every Friday, but several boosts will remain for a long period of time. The longest lasting boost, which just went away in the last week is the $1 off Any Coffee Shop. It stuck around for almost 2 years, and anyone who had that boost applied would automatically save $1 every time they shop at any coffee shop, without any interaction.
So there are quite a few things I want to say & clear up.
  1. You can use a boost every 1 hour.
  2. You must select the boost that you'd like to use prior to the purchase. You're able to swap which boost you want to use as often as you'd like. So when you walk into Chick-Fil-A, just check and make sure your boost is set to CFA. If not, swap it.
  3. In order to apply the boost, you must pay with the Cash Card. It's automatic. If your total is $6 and you're saving 10%, you'll only need a Cash app balance of $5.4 for the transaction. Cash App will cover the other $0.60.
  4. If you link your Cash Card to Apple Pay, you can pay with it that way and the boosts will still be applied.
Do realize that just because you have the Cash Card on the app, you won't see the boosts. You need to have the physical Cash Card in your possession for the boosts to show up.
I've been really enjoying using the Cash Card for purchases. Especially at CFA & Chipotle. It's really not a hassle. When I'm standing in line at Chipotle I'll open the app and make sure my cash app balance is enough and if not I'll just add funds right away. The boost is applied immediately which makes you feel good. It's like the guac is free at Chipotle after you use the cash card. The only downside to using the Cash Card is that you won't be able to stack discounts with anything else on this list... Unless you find a way to link the Cash Card to any of the things on this list. Regardless, 10% off at Chipotle is the best I have found.

Venmo Rewards

Venmo recently announced Venmo Rewards.
Take what you know about Cash App's boosts and then apply something similar to Venmo's debit card. Venmo Rewards is actually a bit easier than Cash App's boosts because it truly requires no input from you whatsoever. The tradeoff is that the cash back rates are lower. If Cash App's average discount would get you 10% off, Venmo would be about 4%.
So here's how Venmo Rewards works:
Simply use your Venmo card at participating merchants—stores you know and love— to earn rewards. Zero setup required. See list of participating merchants in the app.
  1. Get a Venmo card Learn More
  2. Swipe your card at participating merchants
  3. Automatically earn cashback straight to your Venmo balance. (Seriously. That’s it.)
As mentioned above in the section about Dosh, Venmo Rewards is powered by Dosh, and similar to Dosh, the cash back options are targeted. I personally can't use Venmo so I don't have the current list that most people will be seeing as far as opportunities go, but Venmo Rewards originally launched (in November 2019) with the following CB opportunities:
  • 5% Target
  • 5% Sephora
  • 5% Wendy’s
  • 4% Dunkin’
  • 5% Chevron
  • 4% Sam’s Club
  • 5% Papa John’s
Evan on DoC commented earlier this month with their updated CB opportunities:
Dunkin Donuts 4%, Sephora 5%, Macy’s 4%, JCPenney 5%, Sam’s Club 4%, 1-800-flowers.com 15%, Papa Johns 5%, Forever 21 4%, Frank and Oak 5%)
  • 4% Walmart & Walmart Grocery
  • 4% Dunkin'
  • 5% Sephora
  • 4% Macy's
  • 5% JCPenney
  • 4% Sam's Club
  • 15% 1-800-Flowers.com
  • 5% Papa John's
  • 4% Forever 21
  • 5% Frank and Oak
What I can make from this is that the options have not changed much, and have actually expanded, with a couple exceptions. If you're a Venmo user, I think this is a pretty decent reason to get the debit card. The 4% at Sam's Club and Walmart is a pretty good deal for most people, especially if there are no limits to the cash back you can earn.

Empyr Apps

I've listed this as "Empyr Apps" because all of these apps are basically just the same thing. I'll take the example of Swagbucks Local since that's what most of you reading this will already be using.
If you paid attention in the Visa Local Offers section of this post, you'll find that the Empyr apps are actually very similar to those visa local offers.
When you shop at a certain store/restaurant, you'll earn with the empyr app you have linked. It's actually really not that special.
Here's a list of some/most of the current Empyr powered apps:
IMPORTANT NOTE: You're only allowed to use one Empyr app at a time! As soon as you link up with another Empyr app, you'll be disqualified from another until you link back up.
I do want to go into this list a bit this time around since there seem to be more and more Empyr apps popping up.
Swagbucks Local will always be popular among Swagbucks users. What's really nice about Swagbucks Local is that the payouts are always instantly converted to Swagbucks, which can help you cash out sooner. You'll also likely get a slot in the Swago board filled out, which might be beneficial to you.
RetailMeNot is a newer one on this list and it's the only one here that I feel like I recommend you go on/off with. RetailMeNot has recently been doing a lot of "Spend $X, get $Y" deals at a lot of the stores they offer. For example, they are currently offering $5 Cash back for in Store purchases of $30+ at Staples. This is a really good deal for an Empyr app, and would probably be my pick for that transaction, but not most of the time since they don't have very many stores as options.

Drop (iOS | Android)

Ref = fish

Alright, so Drop has gone through a lot of changes since the last time this post was updated. Drop used to be the best passive cash back app without any debate. It was also one of the first apps to offer a card link cash back program. Over the last several months (and years), their card link program has seen several devaluations. First they removed brands you could pick from to receive cash back (for example, when I first joined, you could choose to earn cash back each time you shopped at Amazon, but new users would later not see Amazon as an option). They later lowered the cash back rate. For example, Target went from 1%, to 0.2%. And finally they limited new users to pick from 5 brands to receive cash back at to just 3.
In February 2020 Drop announced a change to the way their card linked cash back would work..
They since have removed their 'power offers' (the offers where you automatically earn cash back at brands), and have replaced it with card link 'Challenges'. These challenges have just recently launched, so it's hard to tell whether or not these will be passive or worthwhile altogether. I currently have one ongoing challenge where if I spend $10+ at Target with a linked card, I'll get 250 points ($0.25), which is pretty insignificant.
As far as I can tell, they seem to have ditched all other forms of card linked cash back from their app. If the challenges turn out to have nothing passive about them, or have no proof of being worthwhile, Drop will likely not even be on this list the next time around.
So let's talk about some features of Drop since we're on the topic.
Drop has clearly moved away from passive cash back, and has focused more on becoming a cash back app in the form of portal earnings and specific offers. Several of these offers are unique to drop, which is good, but when it comes to portal cash back, the rates are often on par or slightly below the offerings you could find on Cashback Monitor.
Another thing about Drop that people are (rightfully) upset about is the change that now requires you to save up $25 worth of points (25,000) in order to cash out. The minimum previously was just $5.
The only feature about Drop that hasn't been nerfed to the ground is their referral program. When you refer your friends you'll earn $5 once they link a card, and they'll get $5 as well.
Overall I'm not too hopeful that Drop will remain passive at all, so this might be the app's last appearance on this list for the foreseeable future.

Credit Cards

I've refrained from listing credit cards on this post for a long time. Maybe because I thought it was too obvious, or maybe it was unnecessary, but since the number of younger people using this subreddit has been increasing I feel like I'd be doing a disservice to entirely disclude a blurb about credit cards.
If you have a credit card and you don't really care to learn more about credit cards, just skip this section. If you're reading this post and you're 18+ (or if you're about to turn 18) and you don't have a credit card or don't know much about credit cards, I think it's a good idea to look into them. I'm not going to tell you exactly what a credit card is since that's an easy google search, but I will tell you about some benefits, especially about those that pertain to the benefits of this post.
Credit cards are great because you can essentially spend money just like you normally would*, but you'll also earn cash back on all/almost all of the purchases you make with them. Additionally, especially if you're young, getting a credit card is a really great because it will start helping you build credit. I'm currently looking into renting a house next year with two housemates and I'm shocked to see that neither of them have any credit. They quite honestly couldn't possibly live in a house without me, since I'm the only one who has credit.
*Make sure you're paying off your credit card every month (or however often you need)... Don't let yourself get into debt. I'd argue if you think you're going to get into debt with a credit card, I'd personally suggest you don't get a credit card.
While you need to be 18 years old to get your own credit card, if you're under 18, you can still start gaining credit. Most major credit card companies will allow your parents to add you as an authorized signer on their credit card (which basically just means that you'll get permission to use their cards). An effect of this is that you'll start gaining credit. If you're looking to build up credit but you don't think you're ready for a credit card, I'd really recommend you ask your parents about becoming an authorized signer. It's a good conversation to have with your parents.
Anyways, let's talk about the cash back benefits, since that's what this post is about, after all.
There's a lot of credit cards. This post isn't going to list them all out. This isn't really even the right subreddit for credit card discussion.
Nerdwallet has a great list of credit cards, so you might want to check it out here, but I'm going to share my own personal situation and recommend that for anyone who might relate, since the average age on this subreddit is around the 18-25 range.
My first credit card was the Chase Freedom Unlimited card. I actually still use this credit card very frequently since it's a pretty balanced card. A couple years back on my 18th birthday I went into my local chase branch and physically had to beg for this card (it's a really beginner card, trust me). After getting denied both in bank and online, I finally found a rep who would give me a calm $500 credit limit for the card. Note: I had no credit before hand.
The Chase Freedom Unlimited card offers 1.5% cash back on all purchases with the card... so when you think about it, I'd previously been spending $100 at Chipotle every month with my debit card, but with the Freedom Unlimited card, I would now be getting 1.5% cash back ($1.50) back on those purchases. It's just an easy way to save money on everything.
If you use the other apps I suggest in this post, you'll likely earn cash back passively from them on certain brands that are featured, but stacking a credit card cash back on top of all the other bonuses is the absolute best way to earn passive cash back since it's usually 1-5% cash back on your purchases.

ReceiptPal

ReceiptPal is an app that allows you to upload your receipts from almost anywhere that you go shopping. It's actually a really simple process.
When you sign up you'll be presented with almost little scratch cards which contains 4 spaces. Each space is filled with a receipt that you upload. Once you reach 4 receipts, you'll earn 100 points. 300/400 points = $1, so basically every 16 receipts you upload you'll receive ~$1.
"So, mr Fishering, how is this passive!?"
Unlike most receipt apps, ReceiptPal allows you to link your emails and amazon account and they'll automatically upload receipts for you. I actually let this app alone for several months and came back to thousands of points and cashed out instantly.
If you make purchases online, you'll essentially be earning ~$0.07 for every purchase you make if you have your email linked. They'll automatically find receipts and submit them, so it's 100% passive earnings.
If you also shop IRL you can submit physical receipts as well.
You can cash out instantly for $5 minimum in the form of a gift card. I'd recommend saving up at least 7,500 points for a $25 gift card, since it'll value points at 300/$1.

Paribus

Paribus is not your typical cash back site. Once you sign up you can link your different accounts (such as your amazon account) and it will automatically track your shopping. Paribus doesn't directly earn you cash back... it acts more like Walmart's saving catcher if you've ever heard of that. If an item you buy somewhere goes on sale shortly after or if there's any other discounts/promotions you may have missed when you originally bought something, they'll quietly get you a rebate on whatever you purchased. It can be very hit or miss. The catch is that they do take a cut of your savings. I believe it is 30% for all new users, but for each member you refer you can cut the cut by 5%. If you save $10, they'll charge you $3 to whatever card you have linked.
Personally I've found it to be really hit or miss, but I've found some incredible savings. I bought a gopro and I got $15 saved with Paribus, and I also got $50 back from some really nice headphones I picked up on amazon from Amazon. What's weird is I bought the headphones like 6 months prior to the rebate. Was shocking to see it, but I've really had some good luck with Paribus.

Sift (iOS | Android)

After the last post, I noticed a lot of people enjoyed Paribus, so I figured it'd be good to add some alternatives in this post.
So, here's Sift. Sift is a similar site to Paribus, and its key focus is on enforcing credit card benefits that many people don't know about. It's actually pretty nice. It'll let you pick your credit card and it'll tell you pretty much everything about your card. I have the Chase Freedom Unlimited card, and I was actually shocked to hear some of the benefits my card has that I have never been taking advantage of.
From Sift's site:
We automatically comb through your credit card policies to show you all your benefits in one place. For every purchase we let you know what benefits you are eligible for. We streamline the claim process to make it as simple as possible to get your money back.
You can link your emails as well as your amazon account as well and they'll make it really easy for you.
I have not actually used Sift much myself, so I cannot attest to how well it works, but the app store reviews are generally positive for Sift.

Trim Savings

Trim is similar to Paribus and Sift, but there's a certain void that it's trying to fill that the other two don't really seem to be filling.
Trim's main selling point is its bill negotiations. Instead of trying to save you money when a price drops, they're going to try and just nip it right in the bud and try to get your bills lower.
Right now they're mainly trying to negotiate with cell providers, internet providers, and cable providers.
Here's how the process goes:
  • Submit Your Bill: Submit your most recent cell phone, cable or internet bill to get started.
  • Trim Negotiates: Trim negotiates with your provider to get you discounts on your bill.
  • You Save Money: Trim takes 25% of annualized savings, but only on success—otherwise, it's free!
So, similar to Paribus, Trim does charge a fee. In a sense, I guess that's a good thing because it gives them an incentive to make sure to get some sort of bill decrease for you so they'll make some money too. Their rate is currently 25% of your bill negotiation. Of course, if they're not able to negotiate your bill for you, you won't pay them anything.
Trim does also monitor your bank account for you and they'll notify you of account changes (that you can set). For example, if they see a transaction worth $xxx, they'll notify me that I've made a large transaction. If there weren't already so many other sites/apps that could do that, I'd say that's a great feature that Trim offers.

Conclusion

Hopefully there's some new apps/sites you found out about in this post. If you sign up for some/all of these programs listed, you should probably find yourself earning some pretty decent cash back, depending on where/how much you spend. These apps are very satisfying to watch your balances build up on, and after a while it's very rewarding to cash out and treat yourself.
In this update I added some really great additions like Ibotta, Venmo Rewards, and Bits, but I am very sad to see the turn that Drop has taken. I have been tipped off to some upcoming passive cash back opportunities that will be coming very soon, and I can't wait to share those and hopefully add them to this list in the near future.
As always if you have any questions please do leave a comment or send me a PM!
Thanks for reading!
  • Follow me on reddit: Fishering
  • Read my other posts!
  • Please send me PMs with any questions you have about anything, or even just PM me if you want someone to talk to.
submitted by Fishering to beermoney [link] [comments]

Harmony Updated Economics

Dear Harmony community,
After careful consideration we have updated the economic model of our network ahead of our upcoming open staking launch. In this new model, the total reward across the network (issuance plus transaction fees) will remain constant regardless of average block time and staking ratio. The goal of this change is to achieve a higher staking ratio, to simplify the model and to create a path to 0 issuance, all of which we believe will bring long term benefits for Harmony.
 
TLDR:
 
Why aim for a higher staking ratio?
A higher staking ratio is beneficial for two reasons. First, the staking ratio is a barometer for the health of a PoS chain. A high staking ratio (above 60%) means that the network is highly secure since mounting a 33% attack would require at least 20% of the token supply. Just as important, a high staking percentage signals a large and loyal community that is committed to the project for the long term. If 60% or more tokens are bonded in the staking contract, you know that a majority of tokens belong to HODLers.
The second benefit of a higher staking ratio is that it creates organic demand for the ONE token. In the long run adoption of on-chain applications will drive network usage and demand for ONE, but the first major use case and demand driver for the token will be staking. We believe that higher staking yields will lead to more desire to stake ONE, thus driving more demand.
 
Why is simplicity important?
Bitcoin demonstrates the power of simplicity. The economic model is so simple you can express it in one sentence: “Issuance halving every 4 years until a maximum supply of 21 million.” The simplicity of Bitcoin’s economic model makes it easy for people to understand so that it’s easy to onboard new community members. The more understandable the model is, the easier it is to spread. Conversely the more complicated the economics are, the less likely the protocol is to reach mass adoption.
For this reason, we strived to create an economic model that could also be explained in one sentence. Here’s ours: “Issuance plus transaction fees set to 441M ONE per year.” An advantage of this simple model is that it becomes easy for validators to project their future rewards and it becomes easy for token holders to project future circulating supply. This predictability gives the protocol a stable economic base for our stakeholders to rely on.
 
Transaction fees
One of the potential problems of Bitcoin’s economic model is that it is unclear if or when transaction fees will be able to compensate for the decreasing block reward issuance. This presents a potential time bomb within the protocol. For any protocol to survive in the long term, it will need to bring in enough transaction fees to at least sustain the cost of operating and securing the network. However, it’s nearly impossible to predict when transaction fees will be adequate to sustain a network in place of issuance.
Our model solves this problem by allowing transaction fees to offset issuance. Thus as network usage increases, issuance decreases by the same amount. When the network is fully mature and can sustain itself on transaction fees alone, issuance will naturally fall to zero. Rather than trying to predict the future, we structure our model so that it adjusts automatically when the timing is right. This way we get the benefit of a stable source of funding to secure the network while also maintaining the potential to have a finite supply of ONE tokens like Bitcoin.
 
Differences from the old model
You might be wondering how this new model is different from the old one. The old model had a variable issuance. As the percentage of tokens staked increased, the annual issuance decreased from ~500M at 0% to 0 ONE at or above 80%. With the new model’s constant issuance of 441M, the reward is slightly smaller at staking ratios of less than 10% but significantly higher at higher staking ratios greater than 10%.
This means that the rewards are more generous! Stakers and validators should be excited that there will be more rewards to be claimed.
 
Why did we change the model?
We changed the model because the assumptions and judgments underlying the original model changed. As John Maynard Keynes said, “When the facts change, I change my mind. What do you do?”
Initially we wanted to have as low an issuance as possible while maintaining reasonable security so that we could minimize inflation. However, we realized that the potential harm from inflation would pale in comparison to the benefits of creating a strong community of validators and stakers in the early stages of the network. Furthermore, we realized we could put a cap on long term inflation by using transaction fees as a way to offset issuance. Therefore we decided that increasing issuance was a worthwhile trade off.
Another assumption in the old model was that staking was inherently competitive with use cases that rely on collateralization such as DeFi. We wanted a lower staking ratio so that a portion of token supply would remain unstaked for these applications. Since then, a new concept called “staking derivatives” shows promise to eliminate this competition as it would allow for derivatives representing staked tokens to be used as collateral instead.
Finally, the original model issued a constant amount of ONE per block. However, we now realize that our block time will decrease over time as we optimize the protocol but this would in turn increase issuance in the old model. So we designed the new reward system such that reward per block will adjust with a change in the time between blocks to keep annual rate of issuance constant.
 
Join the discussion
If you are curious to learn more about our economic model we encourage you to check out our spreadsheet and to join the discussion by replying to this post. If you are a validator or delegator and want to see what this new economic model will mean for your rewards, we are creating a staking calculator which you can use to explore your staking rewards under different circumstances.
submitted by nwharmony to harmony_one [link] [comments]

BitcoinBCH.com accidentally publishes on-chain proof that they fake BCHs adoption metrics. Post to r/btc gets deleted and OP is now permanently banned.

Everybody who has posted this on btc has been banned according to modlog. Total of 9 users so far. Don't post this on btc or you will get banned. If you get banned comment on this thread or PM me.

May 2020:

According to btc modlogs, mc-78 has been banned because he questioned the April report with this comment.

According to btc modlogs, BCH4TW has been banned because he questioned the April report with this comment.

March 2020:

According to btc modlogs, bch4god has been banned because he questioned the February report with this comment.

According to btc modlogs, ISeeGregPeople has been banned because he linked to this thread in his comment.

February 2020:

According to btc modlogs, whene-is-satoshi has been banned because he linked to this thread in his comment.

January 2020:

According to btc modlogs, cryptokittykiller's post has been removed for linking to this thread.

According to btc modlogs, bashcalf has now been banned for linking to this thread.

According to btc modlogs, EnterLayer2 has now been banned for this post pointing out that this thread has reached 1000 upvotes.

This article was posted by bitcoinsatellite on btc here. Once it reached frontpage it got deleted and OP was banned from btc and bitcoincash as a result.

Disclaimer: I am not and have never been affiliated with any of the mentioned parties in a private or professional matter.
Presumably in an attempt to smear a local competitor, Hayden Otto inadvertently publishes irrefutable on-chain proof that he excluded non-BCH retail revenue to shape the "BCH #1 in Australia" narrative.
  • Scroll down to "Proof of exclusion" if you are tired of the drama recap.
  • Scroll down to "TLDR" if you want a summary.

Recap

In September 2019, BitcoinBCH.com started publishing so called monthly "reports" about crypto retail payments in Australia. They claimed that ~90% of Australia's crypto retail revenue is processed via their own HULA system and that ~92% of all crypto retail revenue happens in BCH.
They are aggregating two data sources to come up with this claim.
One is TravelByBit (TBB) who publishes their PoS transactions (BTC, LN, ETH, BNB, DASH, BCH) live on a ticker.
The other source is HULA, a newly introduced POS system (BCH only) and direct competitor to TBB run by BitcoinBCH.com - the same company who created the report. Despite being on-chain their transactions are private, not published and not verifiable by third parties outside BitcoinBCH.com
Two things stood out in the "reports", noted by multiple users (including vocal BCH proponents):
  • The non-BCH parts must have tx excluded and the report neglects to mention it (the total in their TBB analysis does not match what is reported on the TBB website.)
  • The BCH part has outliers included (e.g. BCH city conference in September with 35x the daily average)
The TBB website loads the historic tx data in the browser but hides transactions older than 7 days from being displayed, i.e. you can access more than 7 days worth of data if you understand JavaScript and can read the source code (source).

Hayden Otto's reaction

In direct response to me publishing these findings on btc, Hayden Otto - an employee at BitcoinBCH.com and the author of the report who also happens to be a moderator of /BitcoinCash - banned me immediately from said sub (source).
In subsequent discussion (which repeated for every monthly "report" which was flawed in the same ways as described above), Hayden responded using the same tactics:
"No data was removed"
"The guy is straight out lying. There is guaranteed no missing tx as the data was collected directly from the source." (source)
"Only data I considered non-retail was removed"
"I also had these data points and went through them to remove non-retail transactions, on both TravelbyBit and HULA." (source)
He admits to have removed non-BCH tx by "Game Ranger" because he considers them non-retail (source). He also implies they might be involved in money laundering and that TBB might fail their AML obligations in processing Game Ranger's transactions (source).
The report does not mention any data being excluded at all and he still fails to explain why several businesses that are clearly retail (e.g. restaurants, cafes, markets) had tx excluded (source).
"You are too late to prove I altered the data"
"[...] I recorded [the data] manually from https://travelbybit.com/stats/ over the month of September. The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
Fortunately you can, if you can read the website's source code. But you need to know a bit of JavaScript to verify it yourself, so not an ideal method to easily prove the claim of data exclusion to the public. But it laters turns out Hayden himself has found an easier way to achieve the same.
"The report can't be wrong because it has been audited."
In response to criticism about the flawed methodology in generating the September report, BitcoinBCH.com hired an accountant from a regional Bitcoin BCH startup to "audit" the October report. This is remarkable, because not only did their reported TBB totals still not match those from the TBB site - their result was mathematically impossible. How so? No subset of TBB transaction in that month sums up to the total they reported. So even if they excluded retail transactions at will, they still must have messed up the sum (source). Why didn't their auditor notice their mistake? She said she "conducted a review based on the TravelByBit data provided to her", i.e. the data acquisition and selection process was explicitly excluded from the audit (source).
"You are a 'pathetic liar', a 'desperate toll', an 'astroturf account' and 'a total dumb ass' and are 'pulling numbers out of your ass!'"
Since he has already banned me from the sub he moderates, he started to resort to ad hominems (source, source, source, source).

Proof of exclusion

I published raw data as extracted from the TBB site after each report for comparison. Hayden responded that I made those numbers up and that I was pulling numbers out of my ass.
Since he was under the impression that
"The website only shows transactions from the last 7 days and then they disappear. No way for anyone to access stats beyond that." (source)
he felt confident to claim that I would be
unable to provide a source for the [missing] data and/or prove that that data was not already included in the report. (source)
Luckily for us Hayden Otto seems to dislike his competitor TravelByBit so much that he attempted to reframe Bitcoin's RBF feature as a vulnerability specific to TBB PoS system (source).
While doublespending a merchant using the TBB PoS he wanted to prove that the merchant successfully registered the purchase as complete and thus exposed that the PoS sales history of TBB's merchants are available to the public (source), in his own words:
"You can literally access it from a public URL in the Web browser. There is no login or anything required, just type in the name of the merchant." (source)
As of yet it is unclear if this is intentional by TBB or if Hayden Ottos followed the rules of responsible disclosure before publishing this kind of data leak.
As it happens, those sale histories do not only include the merchant and time of purchases, they even include the address the funds were sent to (in case of on-chain payments).
This gives us an easy method to prove that the purchases from the TBB website missing in the reports belong to a specific retail business and actually happened - something that is impossible to prove for the alleged HULA txs.
In order to make it easier for you to verify it yourself, we'll focus on a single day in the dataset, September 17th, 2019 as an example:
  • Hayden Otto's report claims 20 tx and $713.00 in total for that day (source)
  • The TBB website listed 40 tx and a total of $1032.90 (daily summary)
  • Pick a merchant, e.g. "The Stand Desserts"
  • Use Hayden's "trick" to access that merchants public sale history at https://www.livingroomofsatoshi.com/merchanthistory/thestanddesserts, sort by date to find the 17th Sep 2019 and look for a transaction at 20:58 for $28. This proves that a purchase of said amount is associated with this specific retail business.
  • Paste the associated crypto on-chain address 17MrHiRcKzCyuKPtvtn7iZhAZxydX8raU9 in a blockchain explorer of your choice, e.g like this. This proves that a transfer of funds has actually happened.
I let software aggregate the TBB statistics with the public sale histories and you'll find at the bottom of this post a table with the on-chain addresses conveniently linked to blockchain explorers for our example date.
The total of all 40 tx is $1032.90 instead of the $713.00 reported by Hayden. 17 tx of those have a corresponding on-chain address and thus have undeniable proof of $758.10. Of the remaining 23, 22 are on Lightning and one had no merchant history available.
This is just for a single day, here is a comparison for the whole month.
Description Total
TBB Total $10,502
TBB wo. Game Ranger $5,407
TBB according to Hayden $3,737

What now?

The usual shills will respond in a predictive manner: The data must be fake even though its proof is on-chain, I would need to provide more data but HULA can be trusted without any proof, if you include outliers BCH comes out ahead, yada, yada.
But this is not important. I am not here to convince them and this post doesn't aim to.
The tx numbers we are talking about are less than 0.005% of Bitcoin's global volume. If you can increase adoption in your area by 100% by just buying 2 coffees more per day you get a rough idea about how irrelevant the numbers are in comparison.
What is relevant though and what this post aims to highlight is that BitcoinBCH.com and the media outlets around news.bitcoin.com flooding you with the BCH #1 narrative are playing dirty. They feel justified because they feel that Bitcoin/Core/Blockstream is playing dirty as well. I am not here to judge that but you as a reader of this sub should be aware that this is happening and that you are the target.
When BitcoinBCH.com excludes $1,000 Bitcoin tx because of high value but includes $15,000 BCH tx because they are made by "professionals", you should be sceptical.
When BitcoinBCH.com excludes game developers, travel businesses or craftsmen accepting Bitcoin because they don't have a physical store but include a lawyer practice accepting BCH, you should be sceptical.
When BitcoinBCH.com excludes restaurants, bars and supermarkets accepting Bitcoin and when pressed reiterate that they excluded non-retail businesses without ever explaning why a restaurant shouldn't be considered reatil, you should be sceptical.
When BitcoinBCH.com claims the reports have been audited but omit that the data acquisition was not part of the audit, you should be sceptical.
I expect that BitcoinBCH.com will stop removing transactions from TBB for their reports now that it has been shown that their exclusion can be provably uncovered. I also expect that HULA's BCH numbers will rise accordingly to maintain a similar difference.
Hayden Otto assumed that nobody could cross-check the TBB data. He was wrong. Nobody will be able to disprove his claims when HULA's BCH numbers rise as he continues to refuse their release. You should treat his claims accordingly.
As usual, do your own research and draw your own conclusion. Sorry for the long read.

TLDR

  • BitcoinBCH.com claimed no transactions were removed from the TBB dataset in their BCH #1 reports and that is impossible to prove the opposite.
  • Hayden Otto's reveals in a double spend attempt that a TBB merchant's sale history can be accessed publicly including the merchant's on-chain addresses.
  • This table shows 40 tx listed on the TBB site on sep 17th, including their on-chain addresses where applicable.
  • The BitcoinBCH.com report lists only 20 tx for the same day.
No. Date Merchant Asset Address Amount Total
1 17 Sep 19 09:28 LTD Espresso Lightning Unable to find merchant history. 4.50 4.50
2 17 Sep 19 09:40 LTD Espresso Binance Coin Unable to find merchant history. 4.50 9.00
3 17 Sep 19 13:22 Josh's IGA Murray Bridge West Ether 0x40fd53aa...b6de43c531 4.60 13.60
4 17 Sep 19 13:23 Nom Nom Korean Eatery Lightning lnbc107727...zkcqvvgklf 16.00 29.60
5 17 Sep 19 13:24 Nom Nom Korean Eatery Lightning lnbc100994...mkspwddgqw 15.00 44.60
6 17 Sep 19 14:02 Nom Nom Korean Eatery Binance Coin bnb1w5mwu9...552thl4ru5 30.00 74.60
7 17 Sep 19 15:19 Dollars and Sense (Fortitude Valley) Lightning lnbc134780...93cpanyxfg 2.00 76.60
8 17 Sep 19 15:34 Steph's Cafe Binance Coin bnb124hcjy...ss3pz9y3r8 57.50 134.10
9 17 Sep 19 19:37 The Stand Desserts Binance Coin bnb13f58s9...qqc7fxln7s 18.00 152.10
10 17 Sep 19 19:59 The Stand Desserts Lightning lnbc575880...48cpl0z06q 8.50 160.60
11 17 Sep 19 20:00 The Stand Desserts Lightning lnbc575770...t8spzjflym 8.50 169.10
12 17 Sep 19 20:13 The Stand Desserts Lightning lnbc202980...lgqp5ha8f4 3.00 172.10
13 17 Sep 19 20:21 The Stand Desserts Lightning lnbc577010...decq7r4p05 8.50 180.60
14 17 Sep 19 20:24 Fat Dumpling Lightning lnbc217145...9dsqpjjr6g 32.10 212.70
15 17 Sep 19 20:31 The Stand Desserts Lightning lnbc574530...wvcpp3pcen 8.50 221.20
16 17 Sep 19 20:33 The Stand Desserts Lightning lnbc540660...rpqpzgk8z0 8.00 229.20
17 17 Sep 19 20:37 The Stand Desserts Lightning lnbc128468...r8cqq50p5c 19.00 248.20
18 17 Sep 19 20:39 The Stand Desserts Lightning lnbc135220...cngp2zq6q4 2.00 250.20
19 17 Sep 19 20:45 The Stand Desserts Lightning lnbc574570...atcqg738p8 8.50 258.70
20 17 Sep 19 20:51 Fat Dumpling Lightning lnbc414190...8hcpg79h9a 61.20 319.90
21 17 Sep 19 20:53 The Stand Desserts Lightning lnbc135350...krqqp3cz8z 2.00 321.90
22 17 Sep 19 20:58 The Stand Desserts Bitcoin 17MrHiRcKz...ZxydX8raU9 28.00 349.90
23 17 Sep 19 21:02 The Stand Desserts Bitcoin 1Hwy8hCBff...iEh5fBsCWK 10.00 359.90
24 17 Sep 19 21:03 The Stand Desserts Lightning lnbc743810...dvqqnuunjq 11.00 370.90
25 17 Sep 19 21:04 The Stand Desserts Lightning lnbc114952...2vqpclm87p 17.00 387.90
26 17 Sep 19 21:10 The Stand Desserts Lightning lnbc169160...lpqqqt574c 2.50 390.40
27 17 Sep 19 21:11 The Stand Desserts Lightning lnbc575150...40qq9yuqmy 8.50 398.90
28 17 Sep 19 21:13 The Stand Desserts Lightning lnbc947370...qjcp3unr33 14.00 412.90
29 17 Sep 19 21:15 The Stand Desserts Binance Coin bnb1tc2vva...xppes5t7d0 16.00 428.90
30 17 Sep 19 21:16 Giardinetto Binance Coin bnb1auyep2...w64p6a6dlk 350.00 778.90
31 17 Sep 19 21:25 The Stand Desserts BCH 3H2iJaKNXH...5sxPk3t2tV 7.00 785.90
32 17 Sep 19 21:39 The Stand Desserts Binance Coin bnb17r7x3e...avaxwumc58 8.00 793.90
33 17 Sep 19 21:47 The Stand Desserts BCH 32kuPYT1tc...uFQwgsA5ku 18.00 811.90
34 17 Sep 19 21:52 The Stand Desserts BCH 3ELPvxtCSy...4QzvfVJsNZ 36.00 847.90
35 17 Sep 19 21:56 The Stand Desserts Lightning lnbc677740...acsp04sjeg 10.00 857.90
36 17 Sep 19 22:04 The Stand Desserts BCH 38b4wHg9cg...9L2WXC2BSK 54.00 911.90
37 17 Sep 19 22:16 The Stand Desserts Binance Coin bnb14lylhs...x6wz7kjzp5 18.00 929.90
38 17 Sep 19 22:21 The Stand Desserts BCH 3L8SK3Hr7u...F3htdSPxfL 90.00 1019.90
39 17 Sep 19 22:30 The Stand Desserts Binance Coin bnb19w6tle...774uknv57t 5.00 1024.90
40 17 Sep 19 22:48 The Stand Desserts BCH 3Qag8c4UYg...9EYuWzGjhs 8.00 1032.90
submitted by YeOldDoc to CryptoCurrency [link] [comments]

Weekly Wrap: This Week In Chainlink April 13 - April 19

Announcements and Integrations 🎉
Featured Videos 🎥
Mentions in the Press
“[Redacted (Chainlink)] I think it is a fantastic project that demonstrates one of the many great promises of crypto.. I really appreciate the passion of the $LINK Marines. Their fervor and dedication reminds me of the early Bitcoin and Ethereum communities. Unlike many other crypto armies, they are dedicated to a project that has real promise and technical merit.” -Tyler Winklevoss, Co-Founder and CEO of Gemini
Upcoming Events 📅
Are you interested in hosting your own meetup? Apply to become a Chainlink Community Advocate today: https://events.chain.link/advocate
Community Content & Celebrations 👏
Chainlink is hiring: Check out these open roles 👩‍💼
View all open roles at https://careers.chain.link
Are there other community content and celebrations that we missed? Post them in the comments below! ⤵️
submitted by linkedkeenan to Chainlink [link] [comments]

SODL. It's been swell, but the swelling's gone down.

Those familiar with this username already know that I've been involved with Bitcoin since 2012. I purchased my first satoshi before $1k/BTC had ever been seen. I spent years creating developer solutions and electronic products designed to leverage Bitcoin's capability to facilitate frictionless Internet payments and that same time explaining Bitcoin to family, friends, internet buddies, fellow gamers, and anyone else that would listen.
Over time, that capability for frictionless payment dried up. First lack of space in blocks rendered the primary consumer solution I'd been developing as totally useless. There is no point in developing a risk assessment system when the thing being assessed is too risky to justify instant commerce. I feared Bitcoin had met an untimely end at the hands of self-important developers and lazy entitled miners, but was relieved to know that the BTCFORK project was alive and ready to continue the Bitcoin experiment in the form of what would later be called Bitcoin Cash (BCH).
When the fork hit, I was all in from day one. I traded out everything, forked my coins and recovered every satoshi of BCH I could muster. At one lofty point in my life, I had the rare claim to have actually possessed 21 BCH in the same wallet at the same time. I continued developing and introducing people to BCH. I explained to my family and friends the schism and the thought processes that lead me to use BCH instead of BTC. I spent countless hours justifying its existence to a general public that is uninterested in technical details or freedom from potential government seizures and simply want money that works.
Unfortunately, no crypto has never seemed to hold this goal in high esteem. As time has marched onward and progress has continued to be stymied by drama between more self-important developers and lazy entitled miners, I have finally realized why the Bitcoin experiment failed, and how we got here.
Bitcoin's design relies on one very important aspect: that miners behave as rational, long-term-invested economic actors. This would infer that over time, mining organizations will dedicate resources to developing in-house mining solutions and manage them with the same level of interest as a big box store manages their inventory. In short, it would make sense for miners to invest in their own closed-source development, based on the open-source reference client. This would create competition between compatible implementations maintained by groups that are self-invested in their interoperability and suitability for consumer use.
This did not happen, of course. Miners took the lazy, short-term-interested approach of "just run the software, don't care how it works or how well" and left the actual work of looking out for and maintaining the security of the chain to the unpaid open-source developers. This was a recipe for failure years ago and is the same recipe BCH has chosen to follow today. The IFP is simply a physical manifestation of this problem: since devs are not miners, Amaury et. al. are now expecting pay for their work in keeping those miners afloat, and rightly so. But they never should have been doing it in the first place; that was the miners' responsibility the whole time. If you're in an emergent industry running emergent software, you kind of have a responsibility to maintain that software out of pocket. This applies double for high-security software such as financial software. Lazy miners that can't even invest in their own software infrastructure are not trustworthy enough to be relied upon for the security of my funds.
Bitcoin has already failed; and with that clearly observable failure I have sold the remainder of my cryptocurrency, unsubscribed from this and other subreddits, removed various forum accounts, and ceased usage of any remaining services built to work with Bitcoin-style digital signatures. It's been a wild ride. I even made a nice chunk of money along the way. It was fun and fascinating and eye-opening and educational and profitable; but for me, it's over. The success of global peer-to-peer digital cash has already been thwarted, and that's all I ever came for.
Greg Maxwell didn't do this. Amaury Sechet didn't do this. Jihan Wu didn't do this. Roger Ver didn't do this. Theymos didn't do this. All those miners, all those mining pools, all those people that have been actively profiting off the system by running freely provided software and giving back only blocks in return: they are at fault for this failure. It is too late to turn back; the IFP is effectively a cork in a crumbling dam, a half-assed solution to a double-donkey problem. The dream is over, at least for me, and so I'll be moving on now.
The transition to crypto was troublesome and full of problems. I was on a 100% crypto budget for years and even found myself paying a premium for the "convenience". Funnily enough, the transition back to fiat was amazingly smooth and I actually made money on the way back. Sorry, guys - at the end of the day, fiat does what crypto doesn't.
I see the writing on the wall - and now I add my final scrawl. Goodbye, everyone.
submitted by chernobyl169 to btc [link] [comments]

Passives Einkommen WOW!!! MASSIVE BITCOIN BREAKOUT IMMINENT!!! YOU NEED TO WATCH THIS NOW!!! BE READY!! ALTCOIN SEASON IS HERE!!! Bitcoin Dominance Points To HUGE 100x ALTCOIN PUMP!! 11/21 Bitcoin Market Update How To Fund Your Blockchain Wallet With Bitcoin

5 Insights from a Bitcoin Founder Seeking Funding Simon Burns is the co-founder of Wealthcoin, a bitcoin investment services startup that recently graduated from California incubator Boost VC. The Grayscale Bitcoin Trust . Established as the Bitcoin Trust, an open-ended private trust by Alternative Currency Asset Management in 2013, this fund is now sponsored by Grayscale Investments LLC. 21.5 Funding Sources for your house Business . 21.5 Funding Sources for your house Business. By admin - April 18, 2019 - in Business. 341 . 0. Funding your company is simple difficult. True you can easily receives a commission if you have a conventional business. How to Get the Best Bitcoin Price admin - 5 hours ago. To ensure that the value of Bitcoin is not compromised by an infinite supply, Satoshi Nakamoto wrote in a “halving event” that happens every 210,000 blocks. When Bitcoin’s network first began, Bitcoin’s block reward was 50 BTC per block mined. This was halved in 2012, at block #210,000, where the block reward became 25 BTC. In recent years, Bitcoin miners are also moving to green energy sources for their mining activities. It should also be pointed out that the world has already mined nearly 90% of all Bitcoins, which will eventually be in circulation. (18.5 Million have been mined of the total of 21 Million Bitcoins).

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