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UYT Main-Net pre-launching AMA successfully completed with a blast
7 pm, 29th September 2020 Beijing time the UYT Main-Net pre-launching AMA successfully completed with a blast! Here is a full record of the AMA: Host: Hello everyone, it’s a great honor to host the first AMA of UYT network in China. Today, we have invited the person in charge of UYT Dao. Let’s ask Mr. Woo to introduce himself Woo: Hello, I’m Ben. I’ve met you in the previous global live broadcast. I’m the director of UYT Dao and the founder of IGNISVC. At present, I’m the CEO of the TKNT foundation and have been engaged in the blockchain industry. Q1. At present, different types of blockchains have emerged, but cross-chain interaction is still suffering a lot. In your opinion, what is the necessity and significance of cross-chain? Answer: The full name of UYT is to unite all your tokens, which is to integrate all public chains and increase the liquidity of the whole industry. Our purpose is not to create another public chain, but to become a platform for the exchange of value, technology, and resources of all public chains. What we need to solve is that each individual chain can circulate with each other. The full name of UYT is to unite all your tokens, which is to integrate all public chains and increase the liquidity of the whole industry. Our purpose is not to create another public chain, but to become a platform for the exchange of value, technology, and resources of all public chains. What we need to solve is that each individual chain can circulate with each other. Q2. The founder of Ethereum, V Shen, once wrote a cross-chain operation report for bank alliance chain R3, which mentioned three cross-chain methods. Which one does UYT belong to? Can you briefly introduce the cross-chain solution of UYT? Answer: In Vitalik’s cross-chain report, there are three main cross-chain methods. The first is that both parties do not know that they are crossing the chain, or that they cannot “read” each other, such as the centralized exchange. The second way is that one of the links can read other chains, such as side-chain / relay chain. That is, a can read B, and B cannot read a; The third is that both a and B can read each other’s, which can achieve the value and information exchange between a, B, and the platform. UYT belongs to the third kind. Our new official website will be online soon. Here are a few simple points: first of all, the architecture of UYT includes relay chain, parachain, parathreads, and bridges. In terms of ductility, it has exceeded almost all the public chains currently online. In the UYT network, there are four kinds of consensus participants, namely collector, fisherman, nominator, and validator. The characteristics of this model are: first, all people can participate without loss. Secondly, as long as anyone makes more contribution to the ecology, he will get more rewards, otherwise, he will receive corresponding punishment. The underlying layer of UYT is the substrate, which uses the rust programming language. Rust is committed to becoming a programming language that can solve the problems of high concurrency and high-security systems elegantly. This is also a great advantage that we are different from other blockchain projects in technology. Q3. What are the roles in the UYT network? What are their respective functions? Answer: After the main network of UYT is online, there will be four roles: collector, fisherman, nominator, and validator, which is totally different from the current system of the test network. The collector, in short, is responsible for collecting all kinds of information in the parallel chain and packaging the information to the verifier. Fishermen, to put it bluntly, is fishing law enforcement, which specifically checks out malicious acts and gets rewards after being checked out. The nominator, in fact, is a group of rights and interests. The verifier is its representative, and they entrust the deposit to the verifier. Verifier, package new blocks in the network. It must mortgage enough deposits and run a relay chain client on a highly available and high bandwidth machine. It can be understood as a mining pool. It can also be understood as the node in the current UYT DAPP. Q4. What is the mining mechanism of the UYT network? The only way to obtain UYT after its issuance is to participate in mining activities. In the initial stage, the daily constant output times of UYT are set to 1440000, and the cycle of bitcoin is halved. Mining rewards can be obtained in the following five ways: 1) Asset pledge mapping mining 2) Become the intermediate chain node of uyt network 3) Recommendation and reward mechanism 4) Voting reward 5) UYT network Dao will take out 10% of gas revenue from block packaging for community construction and reward of excellent community personnel Q5. The rise and fall of the blockchain are very fast. In order to give investors confidence, is there a detailed development plan, implementation steps, and application direction of UYT network in the next few months? Answer: UYT Network test network has been running stably for a year. After the main network is launched, all mechanisms will undergo major changes. The relationship between the UYT test network and the main network can be understood as the relationship between KSM (dot test network) and dot the main network, and the feasibility of the technology can be reflected more quickly by the UYT test network because of its faster timeliness and all future technology updates Some will move to the main network after the stable operation of the test network. In order to give users a better experience and give more rewards to excellent nodes, all Dao organizers are working hard for it. The development team has completed the cross-chain of bitcoin and some high-quality Ethereum based tokens in the early stage, and now the code has all been open source. For other mainstream currencies, community members can apply for funds to develop. In order to develop the ecology and make a better technical reserve, we will set up a special ecological development fund when the main network goes online. The transfer bridge is our key funding direction. The maximum application amount of a team is as high as 100000 US dollars. In addition, if other public chains want to connect to UYT, they will get technical support. In order to encourage developers to participate in ecological construction, Dao also launched a series of grants to support development. Developers can directly pull the better applications on Eth and EOS directly, or develop new products according to their own advantages. These directions are now the focus of funding. Due to the early online testing time of uyt network, it is based on the earlier version of substrate1.0. The on-chain governance mode can only be realized after the upgrade of 2.0 is completed. At present, the upgrading work is going on steadily, and the on-chain governance will be implemented in the main network with the launch of the uyt main network. As a heterogeneous cross-chain solution with high scalability and scalability, UYT network can perfectly bridge the parallel encryption system and its encryption assets in theory, and its wide applicability in the future can be expected. Therefore, we do not limit the areas where UYT network will play its advantages and roles. But in the general direction, there will be mainly DEFI and DEX ecological plates. From the industry, it can cover a wide range of fields, not only finance but also games, entertainment, shopping malls, real estate, and so on. Q6、How can UYT help DEFI? Answer: UYT network can not only link different public chains but also make parallel chains independent and interlinked. Just like the ACALA project some time ago, it has successfully obtained Pantera capital’s $7 million saft agreement. Although the concept of DEFI is very popular now, all DEFI products are still in the ecology of each public chain, and the cross-chain DEFI ecology has not been developed. UYT is to achieve cross-chain communication, value exchange, and develop truly decentralized financial services and products. For example, cross-chain decentralized flash cash, cross-chain asset support, cross-chain decentralized lending, Oracle machine, and other products. At present, our technical team is also speeding up the construction of infrastructure suitable for the landing of more DEFI products and services and is committed to creating a real cross-chain DEFI ecology, which is only a small step of UYT’s future plan. Q7、TKNT should be one of the hottest projects in the UYT ecosystem recently. Please give us a brief introduction to the TKNT project and the value of TKNT in the UYT ecosystem. Why can TKNT increase 400 times in 7 days? And what is the cooperative relationship between UTC and TKNT? Answer: I will answer each project from the technical and resource aspects. Let’s first introduce UTC. UTC is the token of Copernican network and the first project of UYT game entertainment ecology. In the future, it will be responsible for linking. Due to the high-quality public chain in the entertainment industry, because of the limited slots of UYT, each field will seek a high-quality partner and help the partner become the secondary relay chain of UYT. After the main network of UYT goes online, many chains will want to access UYT Greater value circulation, due to the limited external slots of UYT, the cost is also very high. At this time, you can choose to connect to UTC first, and then connect UTC to UYT. With more and more links with UYT, it will gradually evolve into a secondary relay chain of UYT network. UTC’s resources, online and offline, offline payment and offline entity applications, also have a very large community base. The ecological partners have very good operation experience in the game industry. They will use blockchain technology to change the whole game entertainment industry to make it more transparent and fair. At the same time, there are enough entity consumption scenarios. This is also UYT Because of the reason why the network chose to cooperate with it, the UTC project has been supported by the UYT ecological fund. The support fund includes that after the main network is launched, it will also be the first ecological cooperation project supported by UYT. Because of the online time of the main network of UYT, UTC can’t directly form a chain at present and will give priority to issuing on Ethereum. TKNT is a new concept project TKN.com TKN is the largest online centralized guessing game platform in the world at present. TKNT mixes bet mining and DEFI, so it can carry out fixed mining through platform games, build a system that can realize game participation and in application payment in all Dapps based on ERC20, and combine with various financial services. The reason why TKNT has created a myth of 400 times in 7 days is that the TkN platform has a buyback plan. As we all know, the online quiz game entertainment platform has an amazing profit. Every quarter, the profit will be used to buyback. The strong profit support has led to the huge increase of token. In the future, all users can use UTC to participate in TkN games. Therefore, the main network of UYT is that Line is also of great significance to TKNT. With the maturity of UYT ecology and technology, TKNT can have a more powerful performance. If TKNT wants to link more public chains, it needs to access UYT network, and realize a bigger vision with cross-chain interaction of UYT. After TKNT was launched on the exchange, the highest price has risen to $14, and now it has dropped to about $2.50. You will see that it will once again set a record high and create greater miracles. You will also see that $3 will be the best buying point for TKNT, because there will be several major moves in TKNT, and the global MLM plan will be launched on October 7 in Korea, China, and other countries There will be many marketing teams in Europe to promote TKNT, including DAPP.com As a shareholder of TkN, TKNT will also make every effort to promote TKNT. Secondly, TKNT will be launched next month on the largest digital currency exchange in South Korea, and Chinese users will see the shadow of TKNT on Binance in November. Of course, the decentralized trading platform of UYT will also be launched in the future. Q8. What is the significance of the launch of UYT’s main network for the industry and ecology? Answer: UYT is one of the few cross-chain platform projects in the industry at present. There are many public chains and coin issuing projects. Why? Because of less work, more money. However, there are very high technical and capital requirements for cross-chain and platform. This barrier is very high, so almost no project side is willing to do this. But once this is done, it will be of great significance to the whole industry of digital currency and blockchain. Because it will subvert the current situation of the whole currency circle and chain circle acting on their own, and the painting land is king. Let each independent ecosystem achieve a truly decentralized and trust-free cooperative relationship. This huge change will promote the whole industry to develop into a healthy and virtuous circle macro ecosystem. Q9. The slogan of many project supporters is that UYT should surpass Ethereum. What is the difference in technology between UYT network and Ethereum? Answer: Thank you so much for supporting UYT. In fact, the correct understanding is that UYT is the next era of Ethereum. First of all, UYT has a different vision from Ethereum. Before the emergence of UYT, Ethereum, and EOS, no matter how well they developed, belonged to the era of a single chain. The popular metaphor is a LAN. However, UYT can realize the interoperability of each chain and bring the blockchain into the Internet era. Secondly, UYT is far superior to Ethereum in technology. It mainly includes three aspects: shared security, heterogeneous cross-chain, and no fork upgrade. In the case that Ethereum 2.0 has not been implemented, UYT is the most friendly bottom layer for the DFI projects and other Dapps on Ethereum. Now, the hair chain architecture substrate of UYT is compatible with Ethereum smart contract language solidity, so eth developers can easily migrate their smart contracts to UYT. Up to now, there is no good solution to the congestion problem of Ethereum, while UYT network not only solves the network congestion problem. What’s more, UYT can easily realize one-click online upgrade, instead of having to redeploy a set of contracts on Ethereum for each version upgraded and then require users to follow them to migrate the original assets from the old contract to the new contract. Developers can quickly and flexibly iterate their own protocols to change their application solutions according to the situation, so as to serve more users and solve more problems. At the same time, they can also repair the loopholes in the contract very quickly. In the case of hacker attacks, they can also solve the hacker stealing money and a series of other problems through parallel chain management. We can find that for Ethereum, UYT not only solves the congestion problem we see in front of us but also provides the most important infrastructure for the future applications such as DFI on Ethereum to truly mature into an open financial application that can serve all people. It also opens the Web 3.0 era of the blockchain industry. In terms of market value, Ethereum currently has a strong ecological construction, with a market value of US $40 billion. UYT will also focus on the development of this aspect after the main network goes online. No matter in terms of market value or ecological construction, I have enough confidence in UYT, after all, we are fully prepared. Q10. What is the progress of the ecological construction of UYT? What opportunities do current ecological partners see in UYT or what changes may be brought about by UYT ecology? Answer: After the main network of UYT goes online, there will be a series of ecological construction actions, and more attention will be paid to establishing contact with traditional partners. Cross-chain decentralized flash cash, cross-chain asset support, cross-chain decentralized lending, Oracle machine, and other products will also be the key cooperation direction of UYT. UYT will give priority to the game and entertainment industry because this industry is most easily subverted by blockchain. As the ecological construction of UYT gets bigger and bigger, the future slots will become more and more expensive. The earlier you join UYT ecology, you will get more support from the ecological fund because the ecological fund is also limited. From the perspective of token value-added, all the project parties will cooperate with the project side in the future, and the project side needs to pledge a certain number of UYT to bid for slots, except for ecological rewards, others need to be purchased from market transactions. The difference between the pledge here and the pledge we understand is that the UYT of the ecological partner participating in the auction pledge cannot enjoy the computing power for mining. UYT main network has several opportunities for Eco partners to look forward to, the first point is bitcoin, bitcoin will be later than other assets late, but eventually, all the bubble and value will return to BTC, after the wave of DeFi bubble elimination, the focus will be very much in the bitcoin. UYT ecology can provide a more mature bottom layer for defi. In addition, now Ethereum’s DEFI is that of Ethereum and ERC 20 tokens, and the outbreak point of bitcoin has not yet arrived. Therefore, the DEFI of UYT ecology may be the next opportunity, which is a good opportunity for everyone. The second opportunity is that after the main network goes online, the future UYT ecological projects will compete to bid for slots. In fact, the original intention of UYT is to realize the interconnection of all chains. The chain outside the UYT ecology also needs to communicate. The third is cross-fi. The BIFI is hatched on Ethereum, and the def on UYT can realize multi-chain operation. For example, TkN games or future UTC game platform users can call bitcoin on the UYT chain. This form only belongs to the decentralized finance in the cross-chain era of UYT, which can be called cross-fi. Q11. Which exchanges will UYT go online next? What is the online strategy like? Answer: As the founder of ignisvc and as UYT As the head of the Dao organization, we have always had good cooperative relations with major exchanges all over the world. TKNT will appear in several exchanges one after another. Hitbtc exchange in the United Kingdom, Upbit and Bithumb Exchange in South Korea, Bitfinex exchange in the United States, Binance exchange in China, BKEX exchange, and Kucoin exchange in China are all our partners, and they have been paying close attention to UYT Development, UYT is the public chain with the largest user base and the highest community participation in the cross-chain field, so the future value is immeasurable. If we have to go to the exchange, then we will choose one of the above exchanges to launch. But the vision of UYT is to create a fairer, safer, and transparent circulation in the field of digital currency, and users can master all the assets by themselves, Therefore, in the beginning, there is a simple DEX on the UYT wallet, which is a simple matchmaking transaction and is also an on-chain transaction. After the completion of the UYT DEX, more transactions may occur in the UYT DEX. However, after the main network of UYT is online, centralized exchanges can directly access the block data synchronization of UYT, and it is not ruled out that some exchanges will directly go online for UYT trading. Such exchanges will not enjoy the support of the ecological support fund of UYT. The network project is a community-led project. Each cooperation plan of the exchange will be carried out in the way shared by the community in the future. Dao organization can only implement it according to the voting results. Q12. What are the plans for the promotion of ecological development and market by the launch of UYT main network? Answer: The launch of the main network will be completed around October 15. On the offline side, due to the epidemic situation, we will jointly organize corresponding market activities with nodes in different countries. At present, there are three large-scale offline meetups that have been identified. We will also start a global roadshow when the epidemic is over. On the online side, we have opened online Wechat, Kakao, Twitter, Reddit, and telegram communities. We will carry out AMA activities in various countries and promote them all over the world in various ways. Of course, we will launch MLM plans and cooperate with more marketing teams.
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Transcript of Open Developer Meeting in Discord - 7/19/2019
[Dev-Happy] BlondfrogsLast Friday at 3:58 PM Hey everyone. The channel is now open for the dev meeting. LSJI07 - MBITLast Friday at 3:58 PM Hi TronLast Friday at 3:59 PM Hi all! JerozLast Friday at 3:59 PM :wave: TronLast Friday at 3:59 PM Topics: Algo stuff - x22rc, Ownership token for Restricted Assets and Assets. JerozLast Friday at 4:00 PM @Milo is also here from coinrequest. MiloLast Friday at 4:00 PM Hi :thumbsup: Pho3nix Monk3yLast Friday at 4:00 PM welcome, @Milo TronLast Friday at 4:00 PM Great. @Milo Was there PRs for Android and iOS? MiloLast Friday at 4:01 PM Yes, I've made a video. Give me a second I'll share it asap. JerozLast Friday at 4:02 PM I missed the iOS one. MiloLast Friday at 4:02 PM Well its 1 video, but meant for all. JerozLast Friday at 4:02 PM Ah, there's an issue but no pull request (yet?) https://github.com/RavenProject/ravenwallet-ios/issues/115 [Dev-Happy] BlondfrogsLast Friday at 4:03 PM nice @Milo MiloLast Friday at 4:04 PM Can it be that I have no video post rights? JerozLast Friday at 4:05 PM In discord? MiloLast Friday at 4:05 PM yes? [Dev-Happy] BlondfrogsLast Friday at 4:05 PM just a link? JerozLast Friday at 4:05 PM Standard version has a file limit afaik Pho3nix Monk3yLast Friday at 4:05 PM try now gave permissions MiloLast Friday at 4:05 PM it's not published yet on Youtube, since I didn't knew when it would be published in the wallets file too big. Hold on i'll put it on youtube and set it on private LSJI07 - MBITLast Friday at 4:06 PM no worries ipfs it...:yum: Pho3nix Monk3yLast Friday at 4:06 PM ok, just send link when you can [Dev-Happy] BlondfrogsLast Friday at 4:07 PM So guys. We released Ravencoin v2.4.0! JerozLast Friday at 4:08 PM If you like the code. Go update them nodes! :smiley: [Dev-Happy] BlondfrogsLast Friday at 4:08 PM We are recommending that you are upgrading to it. It fixes a couple bugs in the code base inherited from bitcoin! MiloLast Friday at 4:08 PM https://www.youtube.com/watch?v=t\_g7NpFXm6g&feature=youtu.be sorry for the hold up YouTube Coin Request Raven dev Gemiddeld LSJI07 - MBITLast Friday at 4:09 PM thanks short and sweet!! KAwARLast Friday at 4:10 PM Is coin request live on the android wallet? TronLast Friday at 4:10 PM Nice video. It isn't in the Play Store yet. Pho3nix Monk3yLast Friday at 4:10 PM Well, this is the first time in a while where we have this many devs online. What questions do y'all have? LSJI07 - MBITLast Friday at 4:11 PM Algo questions? Pho3nix Monk3yLast Friday at 4:11 PM sure KAwARLast Friday at 4:11 PM KK LSJI07 - MBITLast Friday at 4:12 PM what are the proposed 22 algos in x22r? i could only find the original 16 plus 5 on x21. TronLast Friday at 4:12 PM Likely the 5 from x21 and find one more. We need to make sure they're all similar in time profile. liqdmetalLast Friday at 4:14 PM should we bother fixing a asic-problem that we dont know exists for sure or not? TronLast Friday at 4:14 PM That's the 170 million dollar question. [Dev-Happy] BlondfrogsLast Friday at 4:14 PM I would prefer to be proactive not reactive. imo JerozLast Friday at 4:14 PM same LSJI07 - MBITLast Friday at 4:15 PM RIPEMD160 is a golden oldie but not sure on hash speed compared to the others. liqdmetalLast Friday at 4:15 PM in my mind we should focus on the restricted messaging etc Sevvy (y rvn pmp?)Last Friday at 4:15 PM probably won't know if the action was needed until after you take the action liqdmetalLast Friday at 4:15 PM we are at risk of being interventionistas acting under opacity TronLast Friday at 4:15 PM Needs to spit out at least 256 bit. Preferably 512 bit. LSJI07 - MBITLast Friday at 4:15 PM ok TronLast Friday at 4:15 PM If it isn't 512 bit, it'll cause some extra headache for the GPU mining software. liqdmetalLast Friday at 4:16 PM i seek to avoid iatrogenics TronLast Friday at 4:16 PM Similar to the early problems when all the algos except the first one were built for 64-bytes (512-bit) inputs. Had to look that one up. TIL iatrogenics JerozLast Friday at 4:17 PM I have to google most of @liqdmetal's vocabulary :smile: liqdmetalLast Friday at 4:17 PM @Tron tldr: basically the unseen, unintended negative side effects of the asic "cure" Sevvy (y rvn pmp?)Last Friday at 4:18 PM 10 dolla word liqdmetalLast Friday at 4:19 PM we need a really strong case to intervene in what has been created. TronLast Friday at 4:19 PM I agree. I'm less concerned with the technical risk than I am the potential split risk experienced multiple times by Monero. Sevvy (y rvn pmp?)Last Friday at 4:20 PM tron do you agree that forking the ravencoin chain presents unique risks compared to other chains that aren't hosting assets? JerozLast Friday at 4:21 PM Yes, if you fork, you need to figure out for each asset which one you want to support. Sevvy (y rvn pmp?)Last Friday at 4:21 PM yeah. and the asset issuer could have a chain preference TronLast Friday at 4:22 PM @Sevvy (y rvn pmp?) Sure. Although, I'd expect that the asset issuers will be honor the assets on the dominant chain. Bigger concern is the branding confusion of multiple forks. See Bitcoin, Bitcoin Cash, Bitcoin SV for an example. We know they're different, but do non-crypto folks? Hans_SchmidtLast Friday at 4:22 PM I thought that the take-away from the recently published analyses and discussions was that ASICs for RVN may be active, but if so then they are being not much more effective than GPUs. Sevvy (y rvn pmp?)Last Friday at 4:22 PM agreed on all accounts there tron TronLast Friday at 4:23 PM I'm not yet convinced ASICs are on the network. KAwARLast Friday at 4:23 PM It would be better to damage an asic builder by forking after they made major expenses. Creating for them the type of deficit that could be negated by just buying instead of mining. Asic existence should be 100 percent confirmed before fork. liqdmetalLast Friday at 4:23 PM 170million dollar question is right.lol TronLast Friday at 4:24 PM I've had someone offer to connect me to the folks at Fusion Silicon. Sevvy (y rvn pmp?)Last Friday at 4:25 PM yes. and if they are active on the network they are not particularly good ASICs which makes it a moot point probably TronLast Friday at 4:26 PM The difficult part of this problem is that by the time everyone agrees that ASICs are problematic on the network, then voting the option in is likely no longer an option. Sevvy (y rvn pmp?)Last Friday at 4:26 PM yes. part of me wonders if we would say "okay, the clock on the asic countdown is reset by this new algo. but now the race is on" [Dev-Happy] BlondfrogsLast Friday at 4:26 PM There are always risks when making a change that will fork the network. We want wait to long though, as tron said. It wont be a voting change. it will be a mandatory change at a block number. Sevvy (y rvn pmp?)Last Friday at 4:26 PM acknowledge the inevitable MiloLast Friday at 4:27 PM I had just a small question from my side. When do you think the android version would be published, and do you maybe have a time-frame for the others? TronLast Friday at 4:27 PM Quick poll. How would everyone here feel about a BIP9 option - separate from the new features that can be voted in? KAwARLast Friday at 4:27 PM Maybe voting should not be a strictly blockchain vote. A republic and a democratic voice? [Dev-Happy] BlondfrogsLast Friday at 4:27 PM @Milo We can try and get a beta out next week, and publish soon after that. MiloLast Friday at 4:28 PM @[Dev-Happy] Blondfrogs :thumbsup::slight_smile: [Dev-Happy] BlondfrogsLast Friday at 4:28 PM BIP9 preemptive vote. I like it. TronLast Friday at 4:30 PM The advantage to a BIP9 vote is that it puts the miners and mining pools at a clear majority before activation. LSJI07 - MBITLast Friday at 4:30 PM Centralisation is inevitable unless we decide to resist it. ASIC's are market based and know the risks and rewards possible. A key step in resisting is sending a message. An algo change to increase asic resistance is imho a strong message. A BIP9 vote now would also be an indicator of bad actors early.... TronLast Friday at 4:30 PM The disadvantage is that it may not pass if the will isn't there. LSJI07 - MBITLast Friday at 4:30 PM Before assets are on main net and cause additional issues. KAwARLast Friday at 4:31 PM I am not schooled in coding to have an educated voice. I only understand social problems and how it affects the economy. SpyderDevLast Friday at 4:31 PM All are equal on RVN TronLast Friday at 4:31 PM It is primarily a social problem. The tech change is less risky and is easier than the social. LSJI07 - MBITLast Friday at 4:32 PM All can have a share....people who want more of a share however pay for the privilege and associated risks. KAwARLast Friday at 4:33 PM Assets and exchange listings need to be consistent and secure. brutoidLast Friday at 4:36 PM I'm still not entirely clear on what the overall goal to the algo change is? Is it just to brick the supposed ASICs (unknown 45%) which could still be FPGAs as seen from the recent block analysis posted in the nest. Is the goal to never let ASICs on? Is it to brick FPGAs ultimately. Are we making Raven strictly GPU only? I'm still unclear LSJI07 - MBITLast Friday at 4:37 PM What about the future issue of ASICs returning after a BIP9 fork "soon"? Are all following the WP as a community? i.e asic resistant or are we prepared to change that to asic resistant for early coin emission. Ideally we should plan for the future. Could the community make a statement that no future algo changes will be required to incentivise future public asic manufacturers? Lol. Same question @brutoid brutoidLast Friday at 4:37 PM Haha it is You mind-beamed me! [Dev-Happy] BlondfrogsLast Friday at 4:38 PM The is up to the community. Currently, the feel seems like the community is anti asic forever. The main issue is getting people to upgrade. KAwARLast Friday at 4:38 PM Clarity is important. Otherwise we are attacking windmills like Don Quixote. brutoidLast Friday at 4:39 PM I'm not getting the feeling of community ASIC hate if the last few weeks of discussion are anything to go by? Hans_SchmidtLast Friday at 4:39 PM A unilateral non-BIP9 change at a chosen block height is a serious thing, but anti-ASIC has been part of the RVN philosophy since the whitepaper and is therefore appropriate for that purpose. [Dev-Happy] BlondfrogsLast Friday at 4:39 PM We can use the latest release as an example. It was a non forking release, announced for 2 weeks. and only ~30% of the network has upgraded. TronLast Friday at 4:39 PM @Hans_Schmidt Well said. liqdmetalLast Friday at 4:40 PM I'm not concerned about a "asic hardware problem" so much as I believe it more likely what we are seeing is several big fish miners (perhaps a single really big fish). For now I recommend standing pat on x16r. In the future I can see an algo upgrade fork to keep the algo up to date. If we start fighting against dedicated x16r hashing machines designed and built to secure our network we are more likely to go down in flames. The custom SHA256 computers that make the bitcoin the most secure network in existence are a big part of that security. If some party has made an asic that performs up to par or better than FPGA or GPU on x16r, that is a positive for this network, a step towards SHA256 security levels. It is too bad the community is in the dark regarding their developments. Therefore I think the community has to clarify its stance towards algorithm changes. I prefer a policy that will encourage the development of mining software, bitstreams and hardware by as many parties as possible. The imminent threat of ALGO fork screws the incentive up for developers. JerozLast Friday at 4:40 PM @brutoid the vocal ones are lenient towards asics, but the outcome of the 600+ votes seemed pretty clear. brutoidLast Friday at 4:40 PM This is my confusion TronLast Friday at 4:41 PM More hashes are only better if the cost goes up proportionally. Machines that do more hashes for less $ doesn't secure the network more, and trends towards centralization. JerozLast Friday at 4:41 PM I would argue for polling ever so often as it certainly will evolve dynamically with the state of crypto over time. TronLast Friday at 4:41 PM Measure security in two dimensions. Distribution, and $/hash. liqdmetalLast Friday at 4:41 PM and volume of hash traysiLast Friday at 4:42 PM 45% of the hashrate going to one party is unhealthy, and standing pat on x16r just keeps that 45% where it is. TronLast Friday at 4:42 PM Volume doesn't matter if the cost goes down. For example, lets say software shows up that does 1000x better than the software from yesterday, and everyone moves to it. That does not add security. Even if the "difficulty" and embedded hashes took 1000x more attempts to find. brutoidLast Friday at 4:42 PM My issue is defintely centralization of hash and not so much what machine is doing it. I mine with both GPU and FPGA. Of course, the FPGAs are not on raven TJayLast Friday at 4:44 PM easy solution is just to replace a few of 16 current hash functions, without messing with x21r or whatever new shit TronLast Friday at 4:44 PM How do folks here feel about allowing CPUs back in the game? traysiLast Friday at 4:44 PM Botnets is my concern with CPUs brutoidLast Friday at 4:44 PM Botnets is my concern SpyderDevLast Friday at 4:44 PM Yes please. LSJI07 - MBITLast Friday at 4:44 PM the poll votes seem not very security conscious. More of day miners chasing profits. I love them bless! Imho the future is bright for raven, however these issues if not sorted out now will bite hard long term when asset are on the chain and gpu miners are long gone..... ZaabLast Friday at 4:45 PM How has the testing of restricted assets been on the test net? liqdmetalLast Friday at 4:45 PM Agreed. I dont think x16r is obsolete like that yet however [Dev-Happy] BlondfrogsLast Friday at 4:45 PM @Zaab not enough testing at the moment. HedgerLast Friday at 4:45 PM Yes, how is the Testing going? justinjjaLast Friday at 4:45 PM Like randomX or how are cpus going to be back in the game? TronLast Friday at 4:45 PM @Zaab Just getting started at testing at the surface level (RPC calls), and fixing as we go. ZaabLast Friday at 4:45 PM And or any updates on the review of dividend code created by the community Lokar -=Kai=-Last Friday at 4:45 PM if the amount of hash the unknown pool has is fixed as standarderror indicated then waiting for the community of FPGAers to get onto raven might be advantageous if the fork doesn't hurt FPGAs. ZaabLast Friday at 4:45 PM Can't rememeber who was on it SpyderDevLast Friday at 4:45 PM @Zaab But we are working on it... Lokar -=Kai=-Last Friday at 4:46 PM more hash for votes JerozLast Friday at 4:46 PM @Maldon is, @Zaab TronLast Friday at 4:46 PM @Zaab There are unit tests and functional tests already, but we'd like more. [Dev-Happy] BlondfrogsLast Friday at 4:46 PM @Zaab Dividend code is currently adding test cases for better security. Should have more update on that next meeting KAwARLast Friday at 4:46 PM Absolute democracy seems to resemble anarchy or at least civil war. In EVE online they have a type of community voice that get voted in by the community. ZaabLast Friday at 4:46 PM No worries was just curious if it was going as planned or significant issues were being found Obviously some hiccups are expected More testing is always better! TronLast Friday at 4:47 PM Who in here is up for a good civil war? :wink: ZaabLast Friday at 4:47 PM Tron v Bruce. Celebrity fight night with proceeds to go to the RVN dev fund SpyderDevLast Friday at 4:48 PM Cagefight or mudpit? JerozLast Friday at 4:48 PM talking about dev funds..... :wink: Pho3nix Monk3yLast Friday at 4:49 PM and there goes the conversation.... KAwARLast Friday at 4:49 PM I am trying to be serious... ZaabLast Friday at 4:49 PM Sorry back to the ascii topic! traysiLast Friday at 4:49 PM @Tron What do we need in order to make progress toward a decision on the algo? Is there a plan or a roadmap of sorts to get us some certainty about what we're going to do? LSJI07 - MBITLast Friday at 4:50 PM Could we have 3 no BIP9 votes? No1 Friendly to asics, retain status quo. No2 change to x17r minimal changes etc, with no additional future PoW/algo upgrades. No3. Full Asic resistance x22r and see what happens... :thonk~1: Sounds messy.... TronLast Friday at 4:51 PM Right now we're in research mode. We're building CNv4 so we can run some metrics. If that goes well, we can put together x22rc and see how it performs. It will likely gore everyone's ox. CPUs can play, GPUs work, but aren't dominant. ASICs VERY difficult, and FPGAs will have a tough time. ZaabLast Friday at 4:51 PM Yeah i feel like the results would be unreliable TronLast Friday at 4:51 PM Is this good, or do we lose everyone's vote? PlayHardLast Friday at 4:52 PM Fpga will be dead Lokar -=Kai=-Last Friday at 4:52 PM why isn;t a simple XOR or something on the table? ZaabLast Friday at 4:52 PM The multiple bip9 that is Lokar -=Kai=-Last Friday at 4:52 PM something asic breaking but doesn't greatly complicate ongoing efforts for FPGA being my point. justinjjaLast Friday at 4:52 PM How are you going to vote for x22rc? Because if by hashrate that wouldn't pass. traysiLast Friday at 4:52 PM Personally I like the idea of x22rc but I'd want to investigate the botnet threat if CPUs are allowed back in. TronLast Friday at 4:52 PM XOR is on the table, and was listed in my Medium post. But, the social risk of chain split remains, for very little gain. traysiLast Friday at 4:53 PM @Lokar -=Kai=- A small change means that whoever has 45% can probably quickly adapt. LSJI07 - MBITLast Friday at 4:53 PM Research sounds good. x22rc could be reduce to x22r for simplicity... TronLast Friday at 4:53 PM x22r is a viable option. No CNv4. LSJI07 - MBITLast Friday at 4:53 PM Don't know how much time we have to play with though... Lokar -=Kai=-Last Friday at 4:53 PM if they have FPGAs yes if they have ASIC then not so much, but I guess that gets to the point, what exactly are we trying to remove from the network? PlayHardLast Friday at 4:54 PM Guys my name is Arsen and we designed x16r fpga on bcus. Just about to release it to the public. I am buzzdaves partner. Cryptonight Will kill us But agreed Asic is possible on x16r And you dont need 256 core Cores traysiLast Friday at 4:55 PM Hi Arsen. Are you saying CN will kill "us" meaning RVN, or meaning FPGA? JerozLast Friday at 4:55 PM This is what im afraid of ^ an algo change killing FPGA as I have the feeling there is a big fpga community working on this PlayHardLast Friday at 4:55 PM Fpgas )) whitefire990Last Friday at 4:55 PM I am also about to release X16R for CVP13 + BCU1525 FPGA's. I'm open to algo changes but I really don't believe in CPU mining because of botnets. Any CNv4 shifts 100% to CPU mining, even if it is only 1 of the 22 functions. Lokar -=Kai=-Last Friday at 4:55 PM namely FPGAs that aren;t memory equipped like fast mem not ddr PlayHardLast Friday at 4:55 PM Hbm non hbm Cryptonight whitefire990Last Friday at 4:56 PM Right now with both Buzzdave/Altered Silicon and myself (Zetheron) about to release X16R for FPGA's, then the 45% miner's share will decrease to 39% or less. PlayHardLast Friday at 4:56 PM Will be dead for fpga LSJI07 - MBITLast Friday at 4:56 PM sound so x22r is fpga "friendly" ... more so than asic anyway... PlayHardLast Friday at 4:56 PM But a change must be planned X16r is no way possible to avoid asics TJayLast Friday at 4:56 PM @LSJI07 - MBIT I would say less friendly... whitefire990Last Friday at 4:57 PM As I mentioned in thenest discussion, asic resistance increases with the square of the number of functions, so X21R is more asic resistant than X16R, but both are pretty resistant PlayHardLast Friday at 4:58 PM Yeah more algos make it heavier on ASIC DirkDiggler (Citadel Architect)Last Friday at 4:58 PM My interpretation of the whitepaper was that we used x16r as it was brand new (thus ASIC resistant), and that was to ensure a fair launch... We've launched... I don't like the idea of constantly forking to avoid the inevitable ASICs. x16r was a great "experiment" before we had any exchange listings... that ship has sailed though... not sure about all these x22rs lmnop changes KAwARLast Friday at 5:00 PM I believe that it is easier to change the direction of a bicycle than an oil tanker. We feel more like a train. We should lay out new tracks and test on them and find benefits that are acceptable to everyone except train robbers. Then open the new train station with no contentious feelings except a silently disgruntled minority group. ??? Hans_SchmidtLast Friday at 5:01 PM The most productive action the community can do now re ASICs is to voice support for the devs to make a non-BIP9 change at a chosen block height if/when the need is clear. That removes the pressure to act rashly to avoid voting problems. LSJI07 - MBITLast Friday at 5:01 PM Thats why im proposing to fork at least once to a more asic resistant algo (but FPGA "friendly/possible"), with the proviso ideally that no more PoW algo forks are require to provide future ASICs some opportunity to innovate with silicon and efficiency. TJayLast Friday at 5:01 PM folks should take into account, that high end FPGAs like BCU1525 on x16r can't beat even previous gen GPUs (Pascal) in terms of hash cost. so they aren't a threat to miners community PlayHardLast Friday at 5:02 PM A proper change Requires proper research eyz (Silence)Last Friday at 5:02 PM Just so I'm clear here, we are trying to boot ASICS, don't want CPUs because of Botnets, and are GPU and FPGA friendly right? PlayHardLast Friday at 5:02 PM It is not a quick one day process eyz (Silence)Last Friday at 5:02 PM If there is a bip9 vote there needs to be a clear explanation as I feel most in the community don't understand exactly what we are trying to fix TronLast Friday at 5:03 PM @Hans_Schmidt I like that route. It has some game theoretics. It gives time for miners to adapt. It is only used if needed. It reduces the likelihood of ASICs dominating the network, or even being built. [Dev-Happy] BlondfrogsLast Friday at 5:03 PM Hey guys. great convo. We are of course looking to do the best thing for the community and miner. We are going to be signing off here though. justinjjaLast Friday at 5:03 PM TJay that comes down to power cost. If your paying 4c/kw gpus all the way. But if your a home miner in europe an fpga is your only chance LSJI07 - MBITLast Friday at 5:03 PM @Hans_Schmidt How do we decide the block limit and when sufficient evidence is available? I would say we have had much compelling information to date... [Dev-Happy] BlondfrogsLast Friday at 5:03 PM Thanks for participating. and keep up the good work :smiley: Have a good weekend. CAWWWW TronLast Friday at 5:03 PM I haven't seen any compelling evidence of ASICs - yet. Pho3nix Monk3yLast Friday at 5:03 PM :v: JerozLast Friday at 5:04 PM I suggest to continue discussion in #development and #thenest :smiley: thanks all! TronLast Friday at 5:04 PM Cheers everyone! KAwARLast Friday at 5:04 PM Agree with Hans. DirkDiggler (Citadel Architect)Last Friday at 5:04 PM thanks Tron Pho3nix Monk3yLast Friday at 5:04 PM Ending here. continue in Nest if wanted DirkDiggler (Citadel Architect)Last Friday at 5:04 PM I am waiting for compelling evidence myself.
Daily analysis of cryptocurrencies 20191014(Market index 37 — Fear state)
https://preview.redd.it/3ygnthtqths31.jpg?width=1200&format=pjpg&auto=webp&s=e681b3df0e1fe4547fc85547b4d62e4c6bffa481 https://coin360.com/ UPbit Operator Dunamu To Launch Comprehensive OTC Platform Dunamu, an operator of global cryptocurrency exchange UPbit, announced Oct 14 that it planed to launch a comprehensive over-the-counter trading platform that deals with all types of unlisted stocks. According to the UPbit operator, it will jointly launch the platform, which will be available in the form of an App, with local brokerage Samsung Securities and big data analytics company Deep Search in the end of October. FSB Chair Reports To G20 Finance Ministers And Central Bank Governors On Oct 13, the Financial Stability Board (FSB) published a letter from its Chair Randal K. Quarles to G20 Finance Ministers and Central Bank Governors ahead of their meetings in Washington D.C. this week. The letter highlights three areas of the FSB’s work, which include the potential financial stability issues from global stablecoins. It mentions that stablecoin projects of potentially global reach and magnitude must meet the highest regulatory standards and be subject to prudential supervision and oversight. “Possible regulatory gaps should be assessed and addressed as a matter of priority. The FSB has formed a working group, to inform regulatory policy approaches that harness the benefits of financial innovation, while containing associated risks for the financial system, and advise on multilateral responses as necessary. The FSB will submit a consultative report to the G20 in April and a final report in July 2020,” the report reads. US Senators Threaten CEOs: Dump Libra Or Face Regulatory Wrath Facebook’s crypto woes are deepening as more partners are jumping the Libra ship before it even sets sail. It appears that US senators are urging them to do so as letters to CEOs have been leaked online. Some say the government is stifling innovation while others agree the crypto project is just dangerous. It seems that a number of US senators have been privately contacting Libra Association members urging them to dump the project like a hot rock. Letters shared online by VanEck digital asset strategist Gabor Gurbacs highlight the extent US politicians will go to in efforts to prevent Libra ever launching. Report: G7 Says ‘Global Stablecoins’ Pose Threat To Financial Stability The G7 group of nations has reportedly drafted a report which says that “global stablecoins” pose a threat to the global financial system. According to the BBC on Oct 13, a draft report from the G7 outlined the various risks associated with digital currencies. It also said that, even if member firms of the governing Libra Association addressed regulatory concerns, it may not get approval from the necessary regulators, stating: “The G7 believe that no stablecoin project should begin operation until the legal, regulatory and oversight challenges and risks are adequately addressed. […] Addressing such risks is not necessarily a guarantee of regulatory approval for a stablecoin arrangement.”
Encrypted project calendar（October 14, 2019）
BCH/Bitcoin Cash:The ChainPoint 19 conference will be held in Armenia from October 14th to 15th.Veros (VRS):14 October 2019 Launch of News Service “Launch of the VEROS NEWS service.”Skycoin (SKY):14 October 2019 Hardware Release “New hardware product launch.”Bibox Token (BIX):14 October 2019 Weekly Report “Check out Bibox Weekly Report (Vol. 67 2019.09.28–2019.10.11)”
Encrypted project calendar（October 15, 2019）
RUFF/RUFF Token:Ruff will end the three-month early bird program on October 15thKAT/Kambria:Kambria (KAT) exchanges ERC20 KAT for a 10% bonus on BEP2 KAT-7BB, and the token exchange reward will end on October 15.BTC/Bitcoin:The Blockchain Technology Investment Summit (CIS) will be held in Los Angeles from October 15th to 16th.OTOCASH (OTO):15 October 2019 Escodex Shutdown “ All OTO HOLDERs who have assets on ESCODEX EXCHANGE to immediately withdraw your assets before October 15th, 2019 4:00 PM”(CRYPTO):15 October 2019 Hard Fork Summit Hard Fork Summit 2019 by TNW . “Where finance and business meets tech.” Amsterdam, October 15–17.Cardano (ADA):15 October 2019 NYC Meetup “Next week on October 15th Nathan Kaiser, Chairperson of the Cardano Foundation, will be in attendance to meet community members in NYCFunFair (FUN):15 October 2019 Marketing AMA “The FunFair Marketing AMA… will be held on Tuesday the 15th of October at 2pm in the Live team chat channel on DiscordArk (ARK):15 October 2019 ARK Core v2.6 on Devnet “We are very excited to announce #ARK Core v2.6 will be launching on #Devnet, October 15th, 2019! “DigiByte (DGB):15 October 2019 BitMart Listing DigiByte (DGB) will be listed on BitMart Exchange on October 15, 2019. The following trading pair will be available: DGB/BTC.ThoreNext (THX):15 October 2019 Staking Goes Live “Staking live from 15 OCT 2019.”
Encrypted project calendar（October 16, 2019）
BTC/Bitcoin:The 2019 Blockchain Life Summit will be held in Moscow, Russia from October 16th to 17th.MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on the theme of “Technology Problem Solving and Testing IoT Devices” at the University of Southern California in Los Angeles on October 16.ETH/Ethereum:Ethereum launches Istanbul (Istanbul) main network upgrade, this main network upgrade involves 6 code upgrades.QTUM/Qtum:Qtum (QTUM) Qtum main network hard fork is scheduled for October 16.(CRYPTO): and 1 other 16 October 2019 Supply Chains Unblocked Supply Chains Unblocked in London from 9:30 AM — 6 PM.Binance Coin (BNB):16 October 2019 Singapore Meetup “Bring your friends to come along with, & it will be FUN! With snacks and drinks.”IoTeX (IOTX):16 October 2019 Mainet Beta “The next evolution of IoTeX blockchain, secure IoT hardware, and decentralized identity is coming October 16 — mark your calendars.”Selfkey (KEY):16 October 2019 Corporate Wallet Release “Soon, wallet users will be able to manage corporate profiles and identity attributes.”Cardano (ADA):16 October 2019 Washington D.C. Meetup “Nathan Kaiser, Chairperson of the Cardano Foundation, will join the community in Washington DC on Oct 16, and talk about the recent
Encrypted project calendar（October 17, 2019）
Holo (HOT):17 October 2019 Redgrid AMA “Join us for the AMA with RedGrid on October 17th. Submit your questions before the AMA on our Holochain Dev Forum.”IOST (IOST):17 October 2019 Breeding Competition Ends “Join IOST 2nd Breeding Competition by@FishChainGamenow! The competition only lasts till 17 Oct”Aragon (ANT):17 October 2019 Seoul Meetup “You are invited to join@licuendefor a meetup and presentation on ‘Aragon and DAOs: What’s next after ICOs and DeFi?’”Skycoin (SKY):17 October 2019 NYC Skywire Meetup NYC Skywire Mainnet Meetup in NYC from 6–8 PM.Horizen (ZEN):17 October 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（October 18, 2019）
BTC/Bitcoin:The SEC will give a pass on the VanEck/SolidX ETF on October 18th and make a final decisionHB/HeartBout:HeartBout (HB) will officially release the Android version of the HeartBout app on October 18.OKB (OKB):18 October 2019 Rotterdam Meetup “Meet us in Rotterdam on 18 Oct as we partner up with Crypto010 Meetup to bring you a talk on ‘Decentralized Finance’.”HeartBout (HB):18 October 2019 Android Version “18th of October 2019 will be officially released Android version of HeartBout app.”BTU Protocol (BTU):and 2 others 18 October 2019 Paris Blockchain Summit The event will gather major international key players of the Blockchain ecosystem including well-known influencers, investors, government…
Encrypted project calendar（October 19, 2019）
PI/PCHAIN Network:The PCHAIN (PI) backbone (Phase 5, 82 nodes, 164, 023, 802 $ PI, 7 candidates) will begin on October 19.LINK/ChainLink:Diffusion 2019 will be held in Berlin, Germany from October 19th to 20thDeepBrain Chain (DBC):19 October 2019 (or earlier) Deploy Main Chain “Deploy Main Chain,” during the third week of October.General Event (CRYPTO):and 1 other 19 October 2019Free State Blockchain “This “unconference” style event brings together some of the top financial tech innovators, researchers, company leaders, and other…”PCHAIN (PI):19 October 2019 Main Chain Voting “Main chain: Epoch 5, 82 nodes, 164,023,802 $PI, 7 Candidates, voting will start on Oct. 19th.”Nash Exchange (NEX):19 October 2019 Nash Anniversary Nash will present their work from the third quarter of 2019. Team members will be present and to answer your questions in person.
Encrypted project calendar（October 20, 2019）
GameCredits (GAME):20 October 2019 (or earlier) Mining Reward Drop GameCredits mining reward will be cut in half at block 2519999 (~October 20). This will be the 4th halvening of the GAME mining reward!Aeternity (AE):20 October 2019 Starfleet 3 App Deadline #Starfleet3 is happening in Malta and you have by October 20th to apply!
Encrypted project calendar（October 21, 2019）
KNC/Kyber Network:The official online hackathon of the Kyber Network (KNC) project will end on October 21st, with more than $42,000 in prize money.Horizen (ZEN):21 October 2019 Sidechains Alpha Release Horizen releasing the alpha version of industry first decentralized and unfederated sidechains.Horizen (ZEN):21 October 2019 Updated Whitepaper Horizen releasing an updated whitepaper.
Encrypted project calendar（October 22, 2019）
ZRX/0x:The 0x protocol (ZRX) Pantera blockchain summit will be held on October 22.
Encrypted project calendar（October 23, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 23rd at the University of Southern California in Los Angeles with the theme “Connecting the I3 Market and Experiencing Purchase and Sales Data.”BTC/Bitcoin:The WBS World Blockchain Summit (Middle East) will be held in Dubai from October 23rd to 24th.Cardano (ADA) and 1 other:23 October 2019 WBS Dubai “One of a kind gathering of 500+ curated & pre-qualified investors, CEOs, CIOs, CTOs, Heads of Blockchain, Chief Digital Officers
Encrypted project calendar（October 24, 2019）
BCN/Bytecoin:Bytecoin (BCN) released the hidden amount of the Bytecoin block network on October 24.
Encrypted project calendar（October 25, 2019）
ADA/Cardano:Cardano (ADA) The Ada community will host a community gathering in the Dominican Republic for the first time on October 25.
Encrypted project calendar（October 26, 2019）
KAT/Kambria:Kambria (KAT) Kambria will host the 2019 Southern California Artificial Intelligence and Data Science Conference in Los Angeles on October 26th with IDEAS.BTC/Bitcoin:CoinAgenda Global Summit will be held in Las Vegas from October 26th to 28th
Encrypted project calendar（October 28, 2019）
LTC/Litecoin:Litecoin (LTC) 2019 Litecoin Summit will be held from October 28th to October 29th in Las Vegas, USABTC/Bitcoin:Mt.Gox changes the debt compensation plan submission deadline to October 28ZEC/Zcash:Zcash (ZEC) will activate the Blossom Agreement on October 28th
Encrypted project calendar（October 29, 2019）
BTC/Bitcoin:The 2nd World Encryption Conference (WCC) will be held in Las Vegas from October 29th to 31st.
Encrypted project calendar（October 30, 2019）
MIOTA/IOTA:IOTA (MIOTA) IOTA will host a community event on October 30th at the University of Southern California in Los Angeles on the topic “How to store data on IOTA Tangle.”
Encrypted project calendar（November 1, 2019）
INS/Insolar:The Insolar (INS) Insolar wallet and the redesigned Insolar Block Explorer will be operational on November 1, 2019.
Encrypted project calendar（November 6, 2019）
STEEM/Steem:The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.
Encrypted project calendar（November 8, 2019）
BTC/Bitcoin:The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality:Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.
https://preview.redd.it/roxxrqbuths31.png?width=504&format=png&auto=webp&s=c94149f1d2f662508b925a59ec31d863731918fb This past week, we saw a nasty decline from the $8,950 zone in bitcoin against the US Dollar. The price declined heavily and broke the key $8,500 support area. Moreover, there was a close below the $8,500 level and the 100 hourly simple moving average. It opened the doors for more losses below the $8,400 and $8,350 support levels. Recently, there was a recovery above the $8,400 level, but the price failed to gain pace above $8,450. As a result, there was a fresh decline from the $8,472 high. During the decline, there was a break below a key ascending channel with support near $8,340 on the hourly chart of the BTC/USD pair. The pair traded as low as $8,146 and it is currently correcting higher. It broke the $8,200 level and the 23.6% Fib retracement level of the recent decline from the $8,472 high to $8,146 low. At the moment, the price is testing the $8,300 area. Besides, it seems like the 50% Fib retracement level of the recent decline from the $8,472 high to $8,146 low is acting as a resistance. On the upside, there are many hurdles forming near the $8,350 and $8,400 levels. The key resistance is near the $8,400 level and the 100 hourly SMA. It also coincides with the 76.4% Fib retracement level of the recent decline from the $8,472 high to $8,146 low. Therefore, a clear close above the $8,400 level might start a decent recovery. The next key resistance is near the $8,500 level, above which the price could test the $8,800 resistance. Conversely, if the price fails to recover above $8,350 or $8,400, it could resume its decline. An immediate support is near the $8,200 level. Review previous articles:https://email@example.com Telegram： https://t.me/Lay126 Twitter：https://twitter.com/mianhuai8 Facebook：https://www.facebook.com/profile.php?id=100022246432745 Reddi：https://www.reddit.com/useliuidaxmn LinkedIn：https://www.linkedin.com/in/liu-wei-294a12176/
AOCO WORLD focuses on the world, 40% increase by 200%
With the birth of Bitcoin, people's cognition and application of blockchain technology has become more and more extensive, and various kinds of application scenarios have been derived from it. Space mining is the most popular, hottest and mainstream Blockchain game application. Many people may be unfamiliar with the term space mining. Space mining is a super blockchain game developed by the AOCO WORLD. It breaks through traditional game barriers and builds a game-organic ecological world of distributed smart contracts. It provides a new generation of game ecosystem platform based on blockchain technology and integrates multiple types of games. It is dedicated to bringing you an unprecedented gaming experience. The name AKr comes from AOCO Kr (the rare gas element of the periodic table) and is the space cryptocurrency issued by AOCO WORLD. It is the basic certificate in AOCO WORLD. From the name we can see that it is quite rare. 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MORE DETAILS ABOUT COBO WALLET.
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Chinese comments are translated to English: "What Happened At The Satoshi Roundtable"
Mo BuYi (Founder of a well known CN bitcoin news/portal site)
This saying... If there were no inside trading, I would not believe it. I hope miners could be more responsible, and so that bitcoin is not strangled in the cradle.
Whatever plunged downwards so much would also go up afterwards. How is that related to short-term block reward? Not to mention hash rate reduction has little impact on block mining, and the duration is short. As of today's network and hardware, why can't 2MB be achieved? Although other techs like LN can scale. On-chain scaling is essential, which is irreplaceable.
Those who keep their eyes closed for immediate interests, they will be eliminated sooner or later. No matter how many guns are in their hands.
This (the author) is a true bitcoin practitioner. Shame on those domestic trolls attacking him.
Domestic miners have already taken the short position. So they still are the winners.
BTC believer Starry Night Wu Gang (HaoBTC founder)
Bitcoin price drop due to hash rate reduction has happened once before, when price hit ￥900 (translator's note: Jan 14 2015). But at the same time the number of coins being mined also decreased, which in turn reduced selling pressure. And hash rate regained slowly. So Brian is not familiar with bitcoin mining. This is his flaw.
Zhao LeTian (Early adopter, famous CN trader)
(Reply to Wu Gang)I agree with CoinBase CEO Brain's views
(Reply to Wu Gang) Why hash rate decrease will lead to reduced mined coins? It is just two weeks adjustment period. Once the difficulty is adjusted, numbers of coins mined will be the same as before. And obviously you evaded the main points. The point is hash rate drop will cause 4-6 weeks of congestion, which will make people lose faith. Will reduced coins mined make up for it? Now I prefer to believe that you have some secrete interest behind the scenes. Or if these recent statements by you is really your true judgement and your understanding of technology, I seriously doubt with your leadership, how far can HaoBTC go.
Bitcoin KingOfMoney (Very famous early adopter)
Market position gives those big bitcoin players certain power. In a short period of time, they are movers and shakers. But that's at the cost of the loss of market share. MtGox was so, Core will be, too, miners and mining pools are no exception!
nightcat (Early adopter)
Repost Bitcoin KingOfMoney's comment
FishSpecial (HaoBTC's voluntary QQ Channel Admin)
(Reply to Bitcoin KingOfMoney) This guy's so full of ambition.
(reply to Zhao LeTian) Even Children three years old are able to understand why those domestic bosses would oppose that (Classic). Only shows dirty secrets hidden behind the curtain.
P2PBUCKS (HaoBTC employee)
(reply to FishSpecial) Yes, Coinbase CEO is a political player, trying to completely control Bitcoin. His resorts are very dangerous.
(reply to P2PBUCKS) Show me your proof. Shall I believe what you said just because you said it? I think he's (Brian) got reasonable points.
Zhao LeTian (Early adopter, famous CN trader)
(reply to P2PBUCKS) You're saying conspiracy theories again.
P2PBUCKS (HaoBTC employee)
(reply to Zhao LeTian) Now you do not believe. Wait to see.
(reply to Zhao LeTian) To hinder the process of Bitcoin the debate finding a conclusion, HAOBTC's men are “work extremely hard”. why? why?
BTC believer Starry Night Wu Gang (HaoBTC founder)
(reply to Zhao LeTian's previous commment: I(Zhao) agree with CoinBase CEO Brain's views ) Although I agree that Bitcoin prices will rise. But if reward halved and price did not go up, Bitcoin will not work fine. The threats within the logic and fear are too bad. Bitcoin has its own decentralized POW adjustment method. With previous halving experiences, the Bitcoin ecosystem won't be significantly affected if prices did not rise. Bitcoin has POW self-regulating system, so bitcoin can worth ten thousand USD.
Zhao LeTian (Early adopter, famous CN trader)
(reply to Wu Gang) The points I agree with brain is that only under the dictatorship can we have so-called >90% "consensus". Forking is no big deal. It's not a split but an election.
If you can't refute with reason, you just simply launch personal attacks (calling names). Many of our countryman are used to this sort of technique.
Song HuanPing (Early player but later turned against bitcoin)
Price is going to drop again.
Zhao LeTian (Early adopter, famous CN trader)
(reply to Song HuanPing) Note its not "again", its "already". OK, You big slick.
Song HuanPing (Early player but later turned against bitcoin)
How low the price will go so I can buy long?
Zhao LeTian (Early adopter, famous CN trader)
(reply to Song HuanPing) Song HuanPing: All you should do is Short! Short! Short! So you could be a winner in life [insidious emojo]
Oh, they need no standpoint, they are happy to remain the status quo, and do not want to see BTC rise. Otherwise, it will cause runs on banks and lead to bankruptcy. (*HaoBTC providing bank service for bitcoin)
Song HuanPing (Early player but later turned against bitcoin)
(reply to Zhao LeTian) All right.
BTC believer Starry Night Wu Gang (HaoBTC founder)
(reply to Zhao LeTian) Bitcoin is a scientific system, rather than a political network. How to protect Bitcoin network security, we need a consensus system. Elections are only politicians' ways to seize control of the Bitcoin. With less than 90% agree, hash rate will split, it will allow the existence of two kinds of bitcoin for a period of time. That two types of coin in offchain wallets can be withdrawn. That will risk the entire community of being attacked. Scientific systems can be tested to confirm the feasibility through experiments.
Zhao LeTian (Early adopter, famous CN trader)
(reply to Wu Gang) On the contrary, where there are people, there are politics. Politics is everywhere. You can suspect other people's point of view, but you should not suspect other people's motives. So getting used to produce conspiracy theories.
Kevin Zhibiao Pan (Ant/Bitmain's Product and R&D Director)
repost the above Zhao's weibo.
BTC believer Starry Night Wu Gang (HaoBTC founder)
(reply to Zhao LeTian) You are pointing at the wrong guy. Ha ha, politics is not bad, but what I mean is that bitcoin is a scientific system, not a political one. Scientific systems should deal with things in accordance with scientific and systematic ways. In fact, I suddenly found that, in fact, the fundamental difference here is to define if Bitcoin is a scientific system or a political one. Bitcoin is scientific systems to bring freedom to people.
I only believe data, no others.
Zhao LeTian (Early adopter, famous CN trader)
(reply to Wu Gang) And even in science, there is no absolutely correct theories. We always have parallel(relative) theories. And the evolution of the old and new theories and systems. The fact that being intolerant of different opinions is the biggest joke.
StarryNight (HaoBTC Wu Gang) mostly stand in the perspective of his own bank. The fear for forking is worst for those coin counterfeiting exchanges, and the presidents of bitcoin banks! So ~~~
Flow with the trend. No one can stop it. Reverse the trends of bitcoin, cis and live, Nizhe death. Its your own choice to make!
BTC believer Starry Night Wu Gang (HaoBTC founder)
(reply to Zhao LeTian) There have always been differences. There are also differences in science. But ultimately only one of many will be proved to be correct science.
LiteBitcoinPool Jiang Zhuoer (Miner, Pool owner)
￥900 followed with a rebound is because the market bottomed out. A slight drop of hash rate leaded to longer block generation, and a slight reduction of newly mined coins. It is almost negligible to price.
You did not fully grasp what he was saying. Is any congestion in previous halvings? What was the trading volume when last halving took place?
LiteBitcoinPool Jiang Zhuoer (Miner, Pool owner)
(reply to Wu Gang) Bitcoin is a currency system, it has millions of users with a market cap of billions of dollars. It is no longer an early stage scientific experiment. Bitcoin is not the core's private plaything. Core has no power to decide how bitcoin's future should be like, and what route to go. Recently our party stated with their scientific proof that our living areas are better without the walls, and should be open to the roads and streets. Do you support that too?
P2PBUCKS (HaoBTC employee)
(reply to Song HuanPing) You've said its gonna drop last time when ￥1700
Song HuanPing (Early player but later turned against bitcoin)
Dont mess with me. It is dropping all the time.
LiteBitcoinPool Jiang Zhuoer (Miner, Pool owner)
(reply to Wu Gang) But the core cannot prove the "science" they believes in to be the only correct one. When you can't prove it, and meanwhile force your will on bitcoin and users. This behaviour is no different from Hitler's genocide on the basis of "scientific" racial theory .
I highly endorse Coinbase CEO's views
To Wu Gang, for the company's immediate interests, and go against 2MB plan. The eyes of some are really short-sighted! DOS operating system can not go far with only 640KB of memory. The same truth holds that Bitcoin cannot always be limited to 1MB blocks! Nor should we deem Bitcoin programming sacred, like other people can not develop it. Competing teams are going to show up.
Zhao LeTian (Early adopter, famous CN trader)
(reply to HappyFlyLong) Please discuss only which views are correct or not. Trying to attack others with guessing their motives is what idiots would do ...
I always believed P2PBUCKS, and thank you for the reminders. But it is recommended to tell with reason.
A bow shocked Bird
Can't agree more.
A grand waterfall is coming
Forking is not allowed? Should it be better if Satoshi decided to go closed-source?
(reply to KillBtc's comment: To hinder the process of Bitcoin the debate finding a conclusion, HAOBTC's men are “work extremely hard”. why? why?) Toxic Tumour of the coin industry.
haobtc... Beyond redemption
[Conspiracy] Coinbase CEO just want to control BTC with the help of LTC's creator? To break other's monopoly with your own. This is power struggle, we people have seen much more like this. We are also very good at it. Edit: typo and grammar BTC: 1JpazvbnCqFzhLvaVncoCkbWXNoWbgeS6Q
60 DoD Week 6: Finances By failing to prepare, you are preparing to fail. – Ben Franklin Having a financial plan is vitally important for a number of reasons. What do you think the greatest stressor in relationships is? The lack of sex your wife is giving you? Close one. It’s money, although your shaved balls might think otherwise. So don’t you think having a plan is critical to fixing your well-being? You have a MAP to get in shape. Why don’t you have a plan for your finances. This post might better well be served in personal finance, but screw it. I’m going to town. For the folks overseas, some of this content might be US-specific. On Net Worth In order to calculate your net worth, you need to take your assets, such as your checking account, savings, house, etc, and subtract your liabilities, your mortgage, credit card debts, and loans, and you’ll get your net worth. This is a good time to be spreadsheet guy. But instead of counting how many ladies you are seeing or counting how many times you had sex, use Excel for its intended purpose. Start calculating it annually, quarterly, monthly. Whatever frequency you feel like you need to get a handle on where your net worth is going. For myself, I do this quarterly, though I have my finger on the pulse pretty frequently. On Budget You want to get ahead? You have to operate on a budget. Know what you are spending, what you are saving, and where your money is going. For me, I’ve got it set where it takes me about 7 minutes to log into the various accounts, take certain numbers like food spend and so forth, and plug those numbers into the Excel boxes. Plugging them in allows me to quickly project the next three months spend and where I’ll be. Some numbers are easy to find, like the fixed costs of mortgage and student loans. Some numbers you have to estimate or look up, like variable food costs and gas/electric. I do this about once a month. It doesn’t take long at all – just making sure I have good cash flow and sticking to my budget. Take the time to do a detailed line item comparison. You should know exactly how much is going where. The real key though is STICKING TO YOUR BUDGET. You have to keep to it in order to meet your goals. On Financial Literacy It’s key to have a good understanding on financial literacy. You have to understand things such as what is the market, what is a stock, what is a bond, what is a dividend, what is a mutual fund, and so forth. You have to know what you are investing in. Take your financial knowledge and move it up. There are literally tons of free information out there. Start going to town. And for the advanced players, go learn the ins and outs of your brokerage firm’s website and trading platform – I mean really learn it, not just “Oh, here’s how I do a buy order on a stock.” Learn how to screen for stocks, mutual funds, and bonds effectively. Side note – If you are in the US, I recommend joining AAII. I have gotten a great deal of value out of my membership to them. A number of HNW individuals I know recommended it to me, though I had joined and got the lifetime membership before I met them. On Bogleheads Personally, I’m a Boglehead. Jack Bogle, man, he was the Chad of passive investing. I believe that passive investing (indexing) long term beats active investing long term. So does Warren Buffet. All my research agrees with this from a long term standpoint. I’m also a fan of creating an Investment Policy Statement Boglehead Resources https://www.bogleheads.org/wiki/Bogleheads%C2%AE_investment_philosophy https://www.bogleheads.org/wiki/What_the_experts_say_about_investing https://www.bogleheads.org/wiki/The_twelve_pillars_of_wisdom / https://web.archive.org/web/20070304091730/http://www.vanguard.com/bogle_site/april272001.html https://studentloanhero.com/featured/bogleheads-invest/ https://www.bogleheads.org/forum/index.php I would highly encourage you to review these links and check out their philosophy on investing. On Being a Contrarian I’m also a fan of being a contrarian. Be greedy when others are fearful, and fearful when others are greedy. You see it with the Bitcoin bubble. You see it when the stock market goes up and down. Oh no, the market is going down… whatever shall we do?!? You stick to your guns. I’m not saying go catch a falling knife. I’m saying that you stick to your plan. There is opportunity when people are fearful, and caution is warranted when people are being greedy. You have to evaluate where we are in the economic cycle as well. On a Cup of Starbucks and Retirement You might have seen the example where someone buys a cup of Starbucks every day and then finds out that if they took that money and invested it toward their retirement, over the span of say 30 years they’ll have like an extra 200k. I have two comments on this. First, be frugal, but don’t deny yourself. Don’t let frugality control you. Second, don’t just focus on controlling the little changes like saving a cup of Starbucks every week, focus on the BIG areas. Focus on getting a new job that pays you an extra 40k per year. Focus on saving 100 bucks off your cable (1200 bucks saved per year). Focus on lowering your taxes. What I’m saying is focus on not just the small areas, but also make the bigger impact areas a higher priority. And stop drinking so much Starbucks – make it yourself. Grind the beans, for crying out loud. On Automating Automate your finances. Make it EASY for yourself to save money. Set up your automatic bill payments for your credit card, loans, mortgage, and bills. Take advantage of the modern tools nowadays for app/camera based check deposits. Have money taken out of your paycheck before you get it, whether it is for retirement or into a separate savings account, so you can accumulate a rainy day fund. I’ve automated as much as I can, with direct withdrawals taken out for mortgage, credit card payments, gas and electric, and for the other areas like telephone those are automatically paid from the credit card, which then is automatically paid from the checking account. Automating saves time, which is a critical resource. On Buying a Car Here’s your resources: https://www.reddit.com/askcarsales/wiki/index https://www.reddit.com/askcarsales/comments/19niva/car_buying_faqs/ https://www.reddit.com/askcarsales/comments/4j2okj/what_to_expect_from_your_dealership_visit/ https://www.reddit.com/askcarsales/comments/613jvn/askcarsales_faq_updated_march_2017/ http://fightingchance.com/ - I used these for private market research, and was worth every penny. There’s a lot more here, but this should get you through the basics. Simply, knowledge is power. The more you know, the more power you have. If you don’t know every single line item that is going into your purchase, whether it is an accessory, taxes, that stupid coating that they try to sell you for $1000 but it’s really just worth $100, etc., then you’re not ready, and you’re more likely to be fleeced. Just even walking into the dealership and observing other customers and their interactions with the car salesman, it’s like watching sheep. Don’t be a sheep. Be prepared. And be prepared to walk too. Cars are a commodity. You can buy the same car someplace else cheaper. Remember this – cars are a commodity, and there’s lots of dealers out there. Side note – “But Steel, what about TrueCar? That seems awesome. I’ll just go in, get my TrueCaCostco/KBB/XXX price and I won’t even have to do anything to get a great price.” Let me tell you this. Dealers would be HAPPY to sell you at the TrueCar price all day long. With proper preparation, you can negotiate a far better deal. Last time when preparing, I had a binder. That binder saved me over 9k. Cost me 5 bucks at the local pharmacy. Printed out all my info, was prepared as all get out, and had a prepared offer ready to go (I used my own sheet, not theirs). Be prepared, that’s what I’m saying. And don’t fall for the four square technique. I just chuckled at the different dealerships at how they try to pull that one. Hell, I went through YouTube and viewed a couple of videos on how car salesmen sell, so I had an understanding of their mentality and what they do. Be prepared. Generally, there are five major parts for buying a car: Trading in your current car, buying your new car, buying options on a car (like that fancy heated steering-wheel), extended warranty, and financing. You should own every single area of this. As an example, when you are talking about trading in your current car, you should ALREADY have your price quote from CarMax in hand, as well as other offers from other dealers. You should know what your car is worth if it were to be sold (remember supply and demand – what is it really worth: what someone will buy it for). You should already have the KBB and Edmunds value of your used car. For your new car, you should have a breakdown of every single thing on it, including options, doc fees and ERT. For your fancy accessories, you should have the MSRP of these accessories, the actual cost of them buying (wholesale parts warehouse), and an estimate in your head on labor costs (cause parts don’t get installed by themselves). For your extended warranty, I would just say that there is a reason why this is one of the most profitable areas of a car dealership. If you simply must have an extended warranty for peace of mind, go find a wholesale warranty. Do your research. Don’t buy from the dealership. Most cars nowadays anyway are built quite well with high standards of quality control, so they’re not failing like they used to. On financing, make sure you set up your own financing before you walk in. It makes life much easier, as the car dealers get money on financing as well. If the dealership can beat your credit union, more power to them. It’s powerful as all get out when you walk in with a prewritten cashier’s check at a super low interest rate and you’re ready when they start asking you how you are going to pay for the car. “Well, I am preapproved for x amount (aka the full amount of the car), but I’d like to see what specials and discounts you have.” It’s all about how much money you can save in each one of these areas. Granted if you’re BETA BUCKS and your time is worth more than doing a bit of research, that’s fair. Some folk just walk in and buy a car right there with a minimum of haggling. That’s how much their time is worth to them, and I know a few people who are like this. I’m merely presenting an alternate approach. To me, it was worth the time to save more than a few thousands. On Buying a House For many people, a house is the largest purchase that they make in their lifetime. Many of you have already bought houses, so I won’t go into this in detail, but again, from The Millionaire Next Door – “If you’re not yet wealthy, but want to be someday, never purchase a home that requires a mortgage that is more than twice your household’s annual realized income.” I see a lot of you going “Shit” after reading that. On a Side Hustle I didn’t even have to write anything, u/red-sfpplus already wrote an excellent post on this topic - https://www.reddit.com/marriedredpill/comments/7i7x4q/the_financial_hustle/ Learn from his example. And then buy the man a drink. On What to Do First "Successful Investing takes time, discipline and patience. No matter how great the talent or effort, some things just take time: You can't produce a baby in one month by getting nine women pregnant." - Warren Buffett First of all, take stock of where you are. Figure out your net worth, and what you have and what you owe (and interest rates). I would say the first thing to do is to have a three to six month emergency fund. This can be done in conjunction with getting rid of high interest debt (such as credit card debt), however if and when you have an emergency, you’re going to need to tap into something. Start your budgeting process. Know where your money is going. Fix it. Most people don’t even have a thousand dollars in savings. Don’t be like that. I would also note that the Personal Finance subreddit has this already diagrammed out in a flowchart in their wiki - https://i.imgur.com/lSoUQr2.png On Giving Back So you give back, right. Of course you do. But what I suggest is potentially setting up a charitable fund, so that you can maximize your charitable deduction annually. You can give a larger sum one year, and then less/none the following year – and maximize your deduction the first year. Something to consider. Plus then your charitable fund is invested, will grow with the market (remember you need a plan and asset allocation here as well), and the growth can be given to the charity as well, tax free. I’d recommend Vanguard, but really there are a number of places that do this. On Habits of Millionaires From the book The Millionaire Next Door, here are the characteristics of millionaires: • They live well below their means • They allocate their time, energy, and money efficiently, in ways conducive to building wealth. • They believe that financial independence is more important than displaying high social status • Their parents did not provide economic outpatient care. • Their adult children are economically self-sufficient. • They are proficient in targeting market opportunities. • They chose the right occupation. On Building Wealth You want to build wealth? Don’t have a high consumption lifestyle! Think for a moment. How much money do you think it takes to maintain an upper-middle class lifestyle vs. how much money do you think it takes to maintain a middle-class/blue collar lifestyle? Bespoke suits. Luxury cars. Bigger house. More property taxes. And so forth. Think of all the stuff you have to purchase to keep up with the Joneses. Cost of cleaning. Cost of buying furniture for that fancy house. Etc. “But Steel, I don’t care about the Joneses.” Sure you don’t. But your wife does. Watching that HGTV, picking out the stupid pillows that breed like rabbits in your house when you’re not looking. There’s something about a house that factors into the Female Social Matrix. Frugality is the name of the game. Frugal being “behavior characterized by or reflecting economy in the use of resources.” Don’t be wasteful. Don’t have a lifestyle marked by lavish spending and hyper consumption. You want to build wealth? Be frugal. Most people will not become wealthy in one generation if they are married to people who are wasteful. You can’t accumulate wealth if one of you is a hyperconsumer. On Offence vs. Defense So you’re not beta bucks, you’re BETA BUCKS! You make it rain! Good for you. You play great offence. But how’s your defense? How’s your wealth accumulation? Are you spending like there’s no tomorrow? If you want to win the game, you have to play great offence AND defense. Here’s some questions for you: • Do you operate on an annual budget? • Do you know how much you spend each year for food, clothing, and shelter? • Do you have a clearly defined set of daily, weekly, monthly, annual, and lifetime goals? • Do you spend a lot of time planning your financial future? To build wealth, minimize your realized (taxable) income, and maximize your unrealized income (wealth/capital appreciation without a cash flow). How do you become financially independent? You have to plan, and you have to sacrifice. You sacrifice today for financial independence tomorrow. On Your Wife & Buy-In As part of your plan and budgeting, once you have it all set, get buy-in from your wife. But do this not like you are seeking approval from mommy (aka you validation whore you), but matter of factly here is the plan, we are budgeting x amount for these areas. Here is our plan. Set out a vision. On Financial Vision Read it and weep - https://www.reddit.com/marriedredpill/comments/3fecgi/first_budget_discussion_leads_to_minor_meltdown/ctnya77/ “One rarely talked-about element of Married Game is a subtle thing known as Vision. Most husbands don’t appreciate what a strong DHV possessing Vision is, and they proceed unaware of the power it can add to their relationship. Most husbands do this because they don’t understand Vision, what it is and how it is manifested, much less the subtle but important role it holds. Let me explain: once upon a time I was working for a personnel agency, and one of my jobs was coaching our people on interviewing techniques. I learned a lot about the process as a result, from both the interviewer and the interviewee side. When it came to my clients who wanted high-quality employees with good technical skills – real talent – I learned the sorts of things that such high-demand technical people wanted in a company. Money, of course, and security and benefits. But beyond that gifted employees want to work for a company with a history, a good culture, and (most importantly) a Vision. What is Vision? In this context Vision is a manifested idea of the future. Everyone wants to work for a company that’s changing the world and is doing so in a positive, pro-active way. No one wants to work for the company that’s floundering, desperate just to meet its next quarter’s goals. Vision is a generally-stated plan-of-action toward a distant but achievable goal, presented in an enticing enough manner to inspire. It’s short on details and long on generalizations. It’s reflective of inner beliefs, values, and judgments, an indication of character, foresight, and initiative. It should be bold, meaningful, and challenging.” Now, this quote above is excellent. You need a vision for your life, but you also need a vision for your finances. What would your financial vision be? What does it look like to you? Create it, and then be ready to share that with your family. On Love of Money Remember folks, money itself is not the root of all evil. It’s the LOVE of money that causes the problem. When you are so driven to be a better beta bucks to get that coin, and start neglecting yourself, your relationships, etc… you’ve got problems. Money is just a tool in the toolbox. Use it, don’t let it use you. Don’t become a slave to money. Your life doesn’t consist of how many toys you have. And you can’t take it with you when you go. On Insurance, or Lack Thereof Would it surprise you to know that most people are underinsured? Make sure that you have enough of the key five types of insurance: health, car, homeowners/renters, life, and disability. Preparing yourself for these situations can save you a lot of pain in the future. Also, make sure you get enough umbrella insurance. Typically they say have enough umbrella insurance to cover your net worth, but I recommend getting a bit more. A quick note, practically, do not get whole life insurance. Get term insurance, and invest the difference in cost between whole life and term. You’ll be much better off. And yes, this is for 99.9% of situations. The remaining .1% of situations are when someone is really wealthy and there are estate and tax considerations. Aka for most of us, don’t worry about it. And take care of your health, so you don’t get fat when you are older and have related medical problems. Put. The. Fork. Down. On Assets and Liabilities, Rich Dad Poor Dad Edition A number of you have read Rich Dad Poor Dad, and there’s controversy in it. I disagree with a number of items in there, but there is an interesting point in there about how he views assets and liabilities: “You must know the difference between an asset and a liability, and buy assets. If you want to be rich, this is all you need to know. It is Rule No. 1. It is the only rule. This may sound absurdly simple, but most people have no idea how profound this rule is. Most people struggle financially because they do not know the difference between an asset and a liability.” He has a simple, non-accounting definition - “An asset is something that puts money in my pocket. A liability is something that takes money out of my pocket.” Buy assets. I like it. What is out there that you can buy that puts money in your pocket. Stocks. Bonds. Mutual Funds. Real Estate that produces Income. There are a ton of items. You should also think about getting rid of your liabilities… the giant boat, the private jet, the cluster B horrible sex-depriving wife (you know who you are)… you get the idea. On Disaster Recovery and Information Security What were to happen if you were to croak, or your only laptop with all your financial data was stolen or destroyed in a fire along with all your financial papers (see, you should have gotten that fireproof safe)? Would you have a plan on what to do? Would your spouse? Your kids? I would suggest making a backup of your finances, statements, tax returns, and other important papers, and put that on an encrypted USB key with a password that you and your wife knows, and then storing that someplace secure. Note that you can do fancy stuff like cloud storage, and so forth – but you need to have a plan for the worst case scenario. Additionally, make sure that you use two-factor authentication when you log into your banking accounts (if they have it), as well as don’t repeat your passwords for your financial accounts. I would even suggest having a separate secured email for your banking accounts, and another one for your personal accounts that get those damn spam emails all the time. Don’t be stupid with your financial accounts. Using the same password is stupid. Yeah, I’m talking to you. On Practical Advice Do get rid of high interest credit cards. If you’ve got a balance on your 29.99% APR credit card and are paying that interest every month, it’s in your best interest to eliminate that debt as soon as possible. You’re not going to get a 29.99% return in a month in the stock market (unless you take on excessive risk for that return, obviously). Try to transfer that balance to a promo 0% interest credit card, and work that down. Don’t borrow from your 401k. You’re cutting out your future returns. Don’t make that 401k loan your emergency fund, but rather have a separate emergency fund. Do use credit cards over debit cards, for a whole host of reasons (theft being the primary reason). Do pay yourself first. Take out at least 10% of your paycheck before it hits your checking account, and start saving. Don’t pay monthly or annual fees on checking accounts or savings accounts. You shouldn’t be paying a bank to store your money. They should be paying you for that privilege. Do get solid credit cards that give outstanding rewards. Do your research. Get at least 2% cash back if you can. Shoot for 5% or more. For example, Discover allows you to get 5% cash back in certain categories, and then you can redeem $20 for a $25 gift card to a number of different vendors. Looks like you just got a 6.25% return. There are plenty of other examples. Do you spend a boatload at Amazon? Get your 5% return. As an example – I get a 5% return on gas using a certain credit card. It’s unlimited throughout the year, and is redeemed as a statement credit, so I don’t have to worry about redemption. I have a certain Amex that I redeem at 4.6% points per dollar spent, plus a 2% general cash back card (some places don’t accept Amex). I could go even crazier, like getting the 3% on restaurants, or churning cards (and there are a lot of sites out there on how to churn successfully), but at some point, it’s not worth it. Do realize that credit cards make it easy to buy things that you don’t need. Recognize that part of yourself that wants to overspend. Ask yourself, do you need whatever it is you are buying. Would it hurt more if you paid in cash rather than credit. Buying with credit encourages you to buy more than you can afford. Do shop around for loans/services. I asked my bank what the best car loan they could give me – they said 2.99%. I asked my credit union, and they got me 1.49%. That’s a big difference in interest over the course of a loan. Generally due to how credit unions are structured (and their presence – mostly online), they will have better deals on certain loans than banks, depending on the product. Don’t delay saving for retirement. Generally, you’ll want to be saving 15% or more of your income for retirement early on. If you don’t save early, the harder it will be. Do try to simplify your finances. It makes it much more complicated if you chase after the best savings rate for your online bank, and then have many accounts all over the place. The 20 dollars that you get in interest is not worth the complexity and time (aka your most valuable resource) it takes to manage all that stuff. Don’t use your HELOC unless you have to. I have a large HELOC, but I don’t use it. But who knows when I need access to a large sum of money. And don’t use it in lieu of your emergency fund. You need both. Do some research into budgeting tools. There’s a lot of people on these threads that recommend YNAB. I personally haven’t used it, so I can’t recommend it one way or the other. I’m old school (and cheap thrifty – why would you pay for something if you can do it yourself). But definitely check those tools out – Mint, Personal Capital, YNAB, budgeting tools through your bank, etc. Also, if your credit card does an annual summary (like Amex does), make sure you look at it to get an idea on where you’re spending – it’s very helpful. On Tips for Saving Money There are a ton of ways you can save money. Go ahead and google “how can I save 1000”. Wait, I did that for you - https://www.google.com/search?q=how+can+I+save+1000 Take some time, call up your cell phone providecable provider and see what specials they have. There's a ton of things you can do to save money quickly. On Too Much Money Say you’re an ostrich farmer, and are flush with cash. You’re asking yourself, ok, so I’ve maxed out my 401k, I’ve maxed out my Traditional IRA and then backdoored it into a Roth IRA for tax diversification plus the benefits of a Roth. I’m contributing to a 529 plan for the kids. I looked into mega backdooring my Roth but darn it my employer doesn’t let me do that. I’m doing all of the tax advantaged things I can. I still have this extra 300k sitting around – what do I do with it?!? First world problems, amIrite. Again, this comes back to your plan. What’s the short term plan with this money. What’s the long term plan. What’s your risk tolerance. What assets can you invest in that fit in with your plan. You still have to manage your budget, even if you are a 1 percenter. On the Best Investment and Most Important Resource I’m a firm believer that the best investment is investing in yourself (and your family and kids), and your most important resource is not money, but time. Learn a skill. Go get a degree. Give your kids a head start. Help your wife accomplish a goal. Do what you can to save time. Money of course helps, but you know what happens when you teach a man to fish. On Happiness Is money linked to happiness? Yes, but only to a point - https://www.usatoday.com/story/money/nation-now/2018/02/26/does-money-equal-happiness-does-until-you-earn-much/374119002/ and https://www.usatoday.com/story/money/personalfinance/2016/12/09/key-money-happiness-may-how-you-spend/94308848/ Honestly, at some point, money just becomes a scoreboard. Money will give you security. It will remove a stressor in your life. It will remove fighting and stress in your relationship (about money, fool). It will allow you to do many things. But eventually, money won’t give you happiness. You have to figure that one out yourself. And of course there’s the joke about “Money can’t buy you happiness, but it can buy you a yacht big enough to pull up right alongside it.” – David Lee Roth. On Money and Attraction Money by itself will not make your wife’s panties wet. Keep that in mind. Having and getting money is basic adulting. Same with saving and managing it. You want to get her wet? Get in shape. Lift. Does money boost your status? Sure. Is status one of those areas that has some effect on where you are in the sexual marketplace? Sure. Pure physical attraction? No. Do you really think that making MORE money is going to have your wife give you more sex? Of course not - https://heartiste.wordpress.com/2014/06/02/money-wont-save-beta-males/ Get in shape. Be hawt. And fix your damn teeth so you can smile like you are a somebody. On a Brief Story So I was talking to a friend of mine, and I asked him how he and his wife set up the finances. He told me about this system, where his paycheck goes into his checking, his wife’s paycheck goes into his wife’s checking, and they have a joint savings account. Then he went into a convoluted description on how each of them pays certain bills, and how what he’s paying is not fair since he’s paying the mortgage AND property tax AND daycare, etc etc. I thought to myself, man, what a convoluted way to deal with stuff. They would then have multiple financial meetings, and discussion on who pays what, and all this extra stuff. It was just a lack of overall ownership going on. Just take care of the finances. Figure out a system that works for you. I’m not going to tell you which system is the best, because it’s all dependent on your unique circumstances (example: heavy spender SAHM vs saver career girl, you’ll need to put some deep restrictions on the heavy spender). But own it. On Who Owns the Finances You own the finances. Period. End stop. From the prior post on finances, it’s so important that I’m putting it here again: “At the core: Who do you want in charge of your financial future? The person interested in maintaining status quo and safety at all costs with your happiness and satisfaction a secondary or minor consideration? Or you? If you've learned anything here it's that you need to be a captain. Putting your wife in the family alpha role breeds contempt and most of the problems that brought your here. Besides control of sex, family MONEY decision veto power is the key indicator of who is wearing the pants.”
Transcript of Proof of Stake & Name Discussion in Slack
Discussion starts off around Tone Vays’ Decred segment sambiohazard: he is generally pessimistic about altcoins praxis: Yes, he's a notorious Bitcoin maximalist. simmysong: what’d he say about decred? ty13r: weren't you watching the show? @jimmysong I saw your name in the chat jimmysong: I popped in just now but then he wasn’t talking decred anymore so i left I also didn’t say anything ty13r: @jimmysong good to know :slightly_smiling_face: jrick: oh i found my next avatar ty13r: @jimmysong he talked about the chart for a minute. I'm not sure what else he said prior. not sure what he said after either lol go1dfish: sounds like he’s fundamentally opposed to proof of stake sambiohazard: he just said there is probably downside on price, and maybe its warranted for goo future growth he hadnt researched/read about fundamentals so pure TA ty13r: sounds like he won't like decred because it's has a form of proof of stake built into the protocol sounds like he hates all ideas related to proof of stake pvtwarren: he hates all ideas that are not bitcoin pretty much ty13r: except monero and ethereum i guess pvtwarren: he doesn't hate ethereum? ty13r: apparently monero and ethereum deserve to be #2 and #3 not sure I don't see why he wouldn't pvtwarren: back in January I remember he was still calling it a scam maybe I remember incorrectly cryptocasca: His problem with PoS guys is the "rich people control the blockchain" problem He told me himself go1dfish: since when is mining cheap? cryptocasca: He just needs to hear how our devs got around that I'm not agreeing. Obviously. I'm just saying he thinks of PoS is a system where it's the rich people who control the direction of the coin and proletariat eat the crumbs dustinb: Congrats on the news y'all - what do you think this trend means for the industry at large? ty13r: Well I'm not exactly sure we really differ. People who hold a lot of decred and stake it, directly control the future of the blockchain. cryptocasca: I'm not agreeing. Obviously. I'm just saying he thinks of PoS is a system where it's the rich people who control the direction of the coin and proletariat eat the crumbs The more decred you stake the more say you have. cryptocasca: There's a cap though @ty13r on the ticket amount that can exist ty13r: No That's what the sdiff algo does cryptocasca: Well not a hard one Right ty13r: I think that's nice though Anyone can participate at any time With enough funds of course cryptocasca: That's not how he spins it. And we need to combat that mentality. He thinks if you're just a mega whale and buy a bunch of coins that you control the show. That essentially DCR is a system run by whales not people davecgh: So, regardless of the specifics here, I think this is very likely going to be one of those cases where there will simply be a fundamental difference of opinion on the topic. While a lot of people love to rail on the rich as being evil (while simultaneously wanting to be rich -- the hypocrisy there is quite amusing), the fact of the matter is people with more skin in the game have more incentive to keep their stake more valuable. Loving it or hating it won't change the facts. cryptocasca: Yes. I agree. ty13r: Yep. cryptocasca: I think the staking aspect is important here. ty13r: But same can be said for PoW mining cryptocasca: The locking up for 28+ days ty13r: Buy more miners, you have more say. Well also just like PoW mining anyone can participate at any given time. And people are getting paid for putting skin in the game 142 days is a long time in crypto land Which is the period it takes for a ticket to expire. dustinb: The problem isn't just that the rich have control, it's that the rich get richer. PoS is similar to compound interest. go1dfish: the power over traditional bitcoins is in the mining hardware and that is not specific to the currency they back, which is why you have worries about bitcoin forks attacking each other coin_artist: But also earlier contributors who earned decred build the grassroots community go1dfish: @dustinb I think that’s a large aspecting driving anti-pos perception but it applies similarly to mining hardware dustinb: Ya @go1dfish - the combination of long term staking + PoW changes things, I need to think more on it. Tendermint's solution has always been the credible threat of hard fork if anyone's stake gets too big. go1dfish: but mining also ends up specifically favoring some people due to external factors like power pricing davecgh: The other thing here is something which doesn't exist yet, so it's completely understandable why it's not considered, but there is a huge difference between hard-fork voting and proposal voting. dustinb: Proposal wouldn't solve it. The non-majority would have to hf. ty13r: I believe this is another reason why 60% of the reward goes to PoW davecgh: Hard fork voting is changing the rules. It's the kind of thing where you could destroy the currency if you aren't careful. That, in my opinion, should consequently very much have a high barrier to entry. Proposals, on the other hand, should definitely have a lower barrier to entry and thus would be much more inclusive. dustinb: Ya - that's the exact reason I like decred, save the hfs for the big stuff. davecgh: These things are not the same and they shouldn't be treated as such. Again, this is my own opinion. I'm sure not everyone agrees. ty13r: @davecgh but how will you differentiate them economically? davecgh: e.g. you wouldn't need a full ticket to vote on proposals, but you would for HFV. ty13r: You might split tickets 32 times, but 1 ticket is still worth 32 votes. davecgh: On the HFV side, yes. However, you can count them however you want on the proposal side. It's l2. You don't need to weight them the same. ty13r: So a split ticket weight might have the same weight as non-split ticket? But if that's the case couldn't someone stake their funds with splits to get more votes? Without some sort of identity system it seems difficult to prevent Sybil attacks in that case. davecgh: I'm spitballing here, so don't take this as gospel or anything, but you could definitely look at the snapshotting tickets and see there are 40960 tickets in total and those tickets are split up such that there are 163,840 participants. So, when you do the proposal system vote, the majority is required to be X% of 163,840. Meanwhile, the on-chain HFV is still 1 ticket = 1 vote. dustinb: I like making it difficult to hf, but is the goal to make it impossible? Not only does that goal technically seem unlikely but aren't there some advantages to hf when we have very serious disagreements within a network about how to proceed? davecgh: It's not impossible at all. There is a very nice distribution of holders. ty13r: We're referring to the proposal system vote right now dustinb: ah. ty13r: Basically the signaling mechanism for work and spending funds. davecgh : The other thing to keep in mind is that the l2 system can be wildly different if we so choose. You can create HLTCs to locked up funds for "layer 2" tickets that can potentially have arbitrary division. You don't have all of the limitations as the on-chain system. ty13r: The HF vote makes it real. @dustinb we just had what should have been a contentious vote that passed with ease surprisingly. davecgh: Then, you still have demonstrable skin in the game, just much much less for participating in the lead-up to a hard fork. However, the actual hard fork vote, a.ka. the thing that actually changes the rules, will, necessarily, use the on-chain system. Again, I totally get this is rather abstract right now since it isn't fully built out and mostly just still in our heads. ty13r: But doesn't attacking the l2 system pose a larger risk? Definitely :slightly_smiling_face: It's like controlling the seeds And the hf vote is like controlling when to harvest If the seeds never get planted there will never be anything to harvest I'm all in favor of lowering the barrier to entry, but increasing the favor of Sybil attacks seems tough to juggle if tickets can have a different weight on the l2 system. davecgh: Well, people with more skin in the game will still have more influence. So, the majority would still win in that case. It just means it allows more inclusivity, which I think we all desire. ty13r: Yeah I think that's fair. @davecgh so could the proposal system have completely separate tickets not related to the HF tickets? For example... davecgh: If we so desire, absolutely. ty13r: I have a bunch of decred that I'm not HF staking But there's a proposal vote going on that I want to vote for I lock up tickets in the l2 vote for a week (no reward) and get my funds back after the vote has concluded davecgh: You'd need to think through the adversarial cases as we've done with the on-chain system in order to prevent the case where you vote, all of your locked funds immediately unlock, and then you dump. So, you'd want some type of randomness factor in there to prevent gaming of it. ty13r: People HF staking still got to vote as well, but so did I without having to lockup my funds for a longer, unknown period of time. What do you mean by dump? davecgh: However, from a pure perspective of whether or not it's possible, you can definitely have a different ruleset. For example, one of the biggest differences, everything else aside, is that the voting period duration will be much faster. Rather than taking a full month, only having 5 votes per block, etc, in the proposal system, the vote would go on for, say a week, and so long as you own a ticket, you can vote whenever you want within that period. Notice how that ruleset is entirely different already. I personally can envision a need for differing voting periods too. There will very likely be time-sensitive things that need to be voted on more or less immediately and maybe they are only 2 days. On the end of the spectrum, perhaps there are things that need longer than a week. moo31337: murmurs something about how not interesting ticket splitting is davecgh: By dump I mean something like "Lock up a bunch of coins, vote down some proposal, all of my coins immediately unlock, sell all of my coins". If you can do that, you no longer necessarily have any incentive to vote according to increasing your holding's values. moo31337: you really dont want my raw opinion on it davecgh: That doesn't apply to the on-chain system because you can't snap vote. Your coins are locked, potentially for months, and you can't influence when they unlock at all. So, if you try vote in a way that would decrease your holding's value, you would be doing so to your own detriment. ty13r: Let's hear it @moo31337 Davecgh: I can sum it up easily! ty13r: That's what she said moo31337: @davecgh nailed it ty13r: Yeah splitting seems like it has a lot of obstacles moo31337: I super dont want to write that code ty13r: @moo31337 assuming increasing the ticket pool size was easy (which I know it's not and could hurt the network) would you be in favor of that? Also increasing votes per block proportionately of course jy-p: I wouldn't from a on-chain footprint perspective having a "ticket split" similar to a stock split would be a ton of work even having 32 split would lead to a massive footprint for offchain votes in the proposal system let's say you have 100 B for each vote in the proposal system, then take 100 B x 40,960 = ~4 MB for the proposal vote multiply that by 32 to get ~128 MB of offchain data to track for proposals this is one proposal too we'll be experimenting with ways to shrink this footprint soon, so this constraint may improve substantially with time ty13r: Yeah and on chain votes are even bigger jy-p: exactly imo, the real solution to the ticket price barrier is to allow tickets to be purchased via a variation on LN davecgh: Agreed, and that's why I was talking about l2 tickets above. ty13r: how do you keep people from getting more voting rights though? davecgh: You don't. Just like in the on-chain system. If you're willing to lock up more funds, you get more influence. However, it allows "smaller fish" to participate too. They just have influence proportional to their stake. ty13r: But if you own 51% of a ticket you can vote it however you want So you could turn 100 tickets into more tickets davecgh: Oh, I see your confusion. Yeah, your talking about buying partial tickets. We're talking about just having more tickets period. ty13r: Ahhh ok sorry So more tickets...but anchored through the LN davecgh: No worries! Like I said, abstract stuff is always fun to discuss for this reason! Right. ty13r: I like it. jy-p: there are a variety of approaches we could take, e.g. fractional voting that is tallied via L2 and rolled into a single ticket we'll start with the simple stuff and see what we can get done first davecgh: Yeah, one of things you guys might have noticed is we're pretty keen on taking things one step at a time. Trying to do everything half-assed at once is a recipe for failure, imo. ty13r: So for example you'd have maybe 5 tickets vote directly on chain and 5 tickets vote via LN? Definitely agree with that davecgh: It might look great on paper when you can tout via marketing that you have X, Y, Z, and a BBQ too! The reality is that if all of those systems are poorly implemented though, it isn't going to make it long term. moo31337: 40k tickets ought to be enough for everyone one ticket one vote!!! ty13r: Another reason why I advocate for this project is you guys spend the painstaking time to do things right. So I definitely appreciate the non rush to the finish line mentality. moo31337: oh there is a rush we just tend not to compromise when it matters I think we need a code is boss meme davecgh: Right. We do have quite aggressive timelines. However, as @moo31337 said, if we have to bump an estimated release date to make sure something is right, that's what we'll do. jy-p: speaking of which, i think we're nearing time for 1.1.0 release. that will include the proposal system backend moo31337: you don’t want my working hours and certainly not @davecgh hours; i dont think anyone understands how @davecgh puts 28 hours in a day ty13r: I know you guys work your asses off. Feels weird when dave goes offline for a few hours honestly lol Feels like he's been gone for days :joy: reddit thread suggesting name change appears ay-p: Ahhh that daily "let's change the name" thread jy-p: I'm 100% sick of these posts ty13r: lol I was about to say the same thing jy-p: "I know you're named john, but i think you'd sound much more attractive if you were named " look at the names of these other major projects - they are beyond retarded go1dfish: you just know it’s going to be a popular proposal when that system is ready. davecgh: I'm actually looking forward to that proposal. It will be voted down once and for all. Then, in the future we'll just be able to link to the failed proposal. No fuss. davecgh: I'm never going to shop at Amazon because it has too much to do with rivers and jungles and women warriors! jy-p: the word Amazon triggers me b/c of the systematic destruction of the rainforest there moo31337: see my turquoise was dead on! colors are hip for branding these days and it has to be calming go1dfish: I like the name I think where the branders can win the fight is in suggesting good unit names decred works as a project name, but it seems a bit clunky as a unit name. davecgh: Well, we probably shouldn't be so dismissive, but after seeing the same thing so many times, it's kind of comical. What is especially funny is that if you actually followed some of the others that people now claim are "good" names, there were the exact same threads about them not being good names too. Now, they are magically good names though because they're popular.
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