(Proposed) BlockFi Credit Card - Earn Bitcoin as Rewards ...
could mining pools be charged for violating sanctions?
If those running a bitcoin mixer can be charged for violating AML, can a centralized mining pool charged for mining a transaction violating sanctions? Mining pools are relatively large organizations that control what transactions get into the block as they create the block template using the bitcoin protocol. Thus they have 'ownership' of what transactions are processed. They outsource some of the POW hashing to 'ASIC' operators ( that are not responsible for selecting transactions ) large organizations generate allot of revenue and hire multiple people and present a large target for law enforcement vs a random solo miner that mines a block every now then. They are more likely to be compliant with requests to censor transactions to protect their 'reputation/business' This is, why protocols like better-hash needs to be widely adopted because, with better hash the pool is _NOT_ responsible for selecting transactions - all it will do is pool the rewards. Individual miners in the pool can create their own block templates. Thus they are no longer ASIC operators as they need to run a full node to create the block template. I think betterhash will decentralize legal liabilities of the mining pool. Any point of centralization in bitcoin like a custodian mixing service is vulnerable to legal action.
d down, k up, everybody's a game theorist, titcoin, build wiki on Cardano, (e-)voting, competitive marketing analysis, Goguen product update, Alexa likes Charles, David hates all, Adam in and bros in arms with the scientific counterparts of the major cryptocurrency groups, the latest AMA for all!
Decreasing d parameter Just signed the latest change management document, I was the last in the chain so I signed it today for changing the d parameter from 0.52 to 0.5. That means we are just about to cross the threshold here in a little bit for d to fall below 0.5 which means more than half of all the blocks will be made by the community and not the OBFT nodes. That's a major milestone and at this current rate of velocity it looks like d will decrement to zero around March so lots to do, lots to talk about. Product update, two days from now, we'll go ahead and talk about that but it crossed my desk today and I was really happy and excited about that and it seemed like yesterday that d was equal to one and people were complaining that we delayed it by an epoch and now we're almost at 50 percent. For those of you who want parameter-level changes, k-level changes, they are coming and there's an enormous internal conversation about it and we've written up a powerpoint presentation and a philosophy document about why things were designed the way that they're designed. Increasing k parameter and upcoming security video and everybody's a game theorist My chief scientist has put an enormous amount of time into this. Aggelos is very passionate about this particular topic and what I'm going to do is similar to the security video that I did where I did an hour and a half discussion about a best practice for security. I'm going to actually do a screencasted video where I talk about this philosophy document and I'm going to read the entire document with annotations with you guys and kind of talk through it. It might end up being quite a long video. It could be several hours long but I think it's really important to talk around the design philosophy of this. It's kind of funny, everybody, when they see a cryptographic paper or math paper, they tend to just say okay you guys figure that out. No one's an expert in cryptography or math and you don't really get strong opinions about it but game theory despite the fact that the topics as complex and in some cases more complex you tend to get a lot of opinions and everybody's a game theorist. So, there was enormous amount of thought that went into the design of the system, the parameters of system, everything from the reward functions to other things and it's very important that we explain that thought process in as detailed of a way as possible. At least the philosophy behind it then I feel that the community is in a really good position to start working on the change management. It is my position that I'd love to see k largely increased. I do think that the software needs some improvements to get there especially partial delegation delegation portfolios and some enhancements into the operation of staking especially. E-voting I'd love to see the existence of hybrid wallets where you have a cold part a hot part and we've had a lot of conversations about that and we will present some of the progress in that matter at the product updates. If not this October certainly in November. A lot of commercialization going along, a lot of things going on and flowing around and you know, commercial teams working hard. As I mentioned we have a lot of deals in the pipeline. The Wyoming event was half political, half sales. We were really looking into e-voting and we had very productive conversations along those lines. It is my goal that Cardano e-voting software is used in political primaries and my hope is for eventually to be used in municipal and state and eventually federal elections and then in national elections for countries like Ethiopia, Mongolia and other places. Now there is a long road, long, long road to get there and many little victories that have to begin but this event. Wyoming was kind of the opener into that conversation there were seven independent parties at the independent national convention and we had a chance to talk to the leadership of many of them. We will also engage in conversation with the libertarian party leadership as well and at the very least we could talk about e-voting and also blockchain-based voting for primaries that would be great start and we'll also look into the state of Wyoming for that as well. We'll you know, tell you guys about that in time. We've already gotten a lot of inquiries about e-voting software. We tend to get them along with the (Atala) Prism inquiries. It's actually quite easy to start conversations but there are a lot of security properties that are very important like end-to-end verifiability hybrid ballots where you have both a digital and a paper ballot delegation mechanics as well as privacy mechanics that are interesting on a case-by-case basis. Goguen, voting, future fund3, competitive marketing analysis of Ouroboros vs. EOS, Tezos, Algorand, ETH2 and Polkadot, new creative director We'll keep chipping away at that, a lot of Goguen stuff to talk about but I'm going to reserve all of that for two days from now for the product update. We're right in the middle, Goguen metadata was the very first part of it. We already have some commercialization platform as a result of metadata, more to come and then obviously lots of smart contract stuff to come. This update and the November update are going to be very Goguen focused and also a lot of alternatives as well. We're still on schedule for an HFC event in I think November or December. I can't remember but that's going to be carrying a lot of things related multisig token locking. There's some ledger rule changes so it has to be an HFC event and that opens up a lot of the windows for Goguen foundations as well as voting on chain so fund3 will benefit very heavily from that. We're right in the guts of Daedalus right now building the voting center, the identity center, QR-code work. All this stuff, it's a lot of stuff, you know, the cell phone app was released last week. Kind of an early beta, it'll go through a lot of rapid iterations every few weeks. We'll update it, google play is a great foundation to launch things on because it's so easy to push updates to people automatically so you can rapidly iterate and be very agile in that framework and you know we've already had 3500 people involved heavily in the innovation management platform ideascale and we've got numerous bids from everything. From John Buck and the sociocracy movement to others. A lot of people want to help us improve that and we're going to see steady and systematic growth there. We're still chipping away at product marketing. Liza (Horowitz) is doing a good job, meet with her two three-times a week and right now it's Ouroboros, Ouroboros, Ouroboros... We're doing competitive analysis of Ouroboros versus EOS, Tezos, Algorand, ETH2 and Polkadot. We think that's a good set. We think we have a really good way of explaining it. David (David Likes Crypto now at IOHK) has already made some great content. We're going to release that soon alongside some other content and we'll keep chipping away at that. We also just hired a creative director for IO Global. His name's Adam, incredibly experienced creative director, he's worked for Mercedes-Benz and dozens of other companies. He does very good work and he's been doing this for well over 20 years and so the very first set of things he's going to do is work with commercial and marketing on product marketing. In addition to building great content where hope is make that content as pretty as possible and we have Rod heavily involved in that as well to talk about distribution channels and see if we can amplify the distribution message and really get a lot of stuff done. Last thing to mention, oh yeah, iOS for catalyst. We're working on that, we submitted it to the apple store, the iOS store, but it takes a little longer to get approval for that than it does with google play but that's been submitted and it's whenever apple approves it or not. Takes a little longer for cryptocurrency stuff. Wiki shizzle and battle for crypto, make crypto articles on wiki great again, Alexa knows Charles, Everpedia meets Charles podcast, holy-grail land of Cardano, wiki on Cardano, titcoin Wikipedia... kind of rattled the cage a little bit. Through an intermediary we got contact with Jimmy Wales. Larry Sanger, the other co-founder also reached out to me and the everpedia guys reached out to me. Here's where we stand, we have an article, it has solidified, it's currently labeled as unreliable and you should not believe the things that are said in it which is David Gerard's work if you look at the edits. We will work with the community and try to get that article to a fair and balanced representation of Cardano and especially after the product marketing comes through. We clearly explain the product I think the Cardano article can be massively strengthened. I've told Rod to work with some specialized people to try to get that done but we are going to work very hard at a systematic approval campaign for all of the scientific articles related to blockchain technology in the cryptocurrency space. They're just terrible, if you go to the proof of work article, the proof of stake or all these things, they're just terrible. They're not well written, they're out of date and they don't reflect an adequate sampling of the science. I did talk to my chief scientist Aggelos and what we're gonna do is reach out to the scientific counterparts that most of the major cryptocurrency groups that are doing research and see if they want to work with us at an industry-wide effort to systematically improve the scientific articles in our industry so that there are a fair and balanced representation of what the current state of the art are, the criticisms, the trade-offs as well as the reference space and of course obviously we'll do quite well in that respect because we've done the science. We're the inheritor of it but it's a shame because when people search proof of stake on google usually wikipedia results are highly biased. We care about wikipedia because google cares about wikipedia, amazon cares about wikipedia. If you ask Alexa who is Charles Hoskinson, the reason why Alexa knows is because it's reading directly from the wikipedia page. If I didn't have a wikipedia page Alexa would know that so if somebody says Alexa what is Cardano it's going to read directly from the wikipedia page and you know and we can either just pretend that reality doesn't exist or we can accept it and we as a community working with partners in the broader cryptocurrency community can universally improve the quality of cryptocurrency pages. There's been a pattern of commercial censorship on wikipedia for cryptocurrencies in general since bitcoin itself. In fact I think the bitcoin article is actually taken down once back in, might have been, 2010 or 2009 but basically wikipedia has not been a friend of cryptocurrencies. That's why everpedia exists and actually their founders reached out to me and I talked to them over twitter through PMs and we agreed to actually do a podcast. I'm going to do a streamyard, stream with these guys and they'll come on talk all about everpedia and what they do and how they are and we'll kind of go through the challenges that they've encountered. How their platform works and so forth and obviously if they want to ever leave that terrible ecosystem EOS and come to the holy-grail land of Cardano we'd be there to help them out. At least they can tell the world how amazing their product is and also the challenges they're having to overcome. We've also been in great contact with Larry Sanger. He's going to do an internal seminar at some point with with us and talk about some protocols he's been developing since he left wikipedia specifically to decentralize knowledge management and have a truly decentralized encyclopedia. I'm really looking forward to that and I hope that presentation gives us some inspiration as an ecosystem of things we can do. That's a great piece of infrastructure regardless and after we learn a lot more about it and we talk to a lot of people in ecosystem. If we can't get people to move on over, it would be really good to see through ideascale in the innovation management platform for people to utilize the dc fund to build their own variant of wikipedia on Cardano. In the coming months there will certainly be funding available. If you guys are so passionate about this particular problem that you want to go solve it then I'd be happy to play Elon Musk with the hyperloop and write a white paper on a protocol design and really give a good first start and then you guys can go and try to commercialize that technology as Cardano native assets and Plutus smart contracts in addition to other pieces of technology that have to be brought in to make it practical. Right now we're just, let's talk to everybody phase, and we'll talk to the everpedia guys, we're going to talk to Larry and we're going to see whoever else is in this game and of course we have to accept the incumbency as it is. So, we're working with obviously the wikipedia side to improve the quality of not only our article but all of the articles and the scientific side of things so that there's a fair and accurate representation of information. One of the reasons why I'm so concerned about this is that I am very worried that Cardano projects will get commercially censored like we were commercially censored. So, yes we do have a page but it took five years to get there and we're a multi-billion dollar project with hundreds of thousands of people. If you guys are doing cutting-edge novel interesting stuff I don't want your experience to be the same as ours where you have to wait five years for your project to get a page even after government's adopted. That's absurd, no one should be censored ever. This is very well a fight for the entire ecosystem, the entire community, not just Cardano but all cryptocurrencies: bitcoin, ethereum and Cardano have all faced commercial censorship and article deletions during their tenure so I don't want you guys to go through that. I'm hoping we can prove that situation but you know you don't put all your eggs in one basket and frankly the time has come for wikipedia to be fully decentralized and liberated from a centralized organization and massively variable quality in the editor base. If legends of valor has a page but Cardano didn't have one until recently titcoin, a pornography coin from 2015, that's deprecated, no one uses it, has a page but Cardano couldn't get one there's something seriously wrong with the quality control mechanism and we need to improve that so it'll get done.
I feel like sharing these thoughts because I’m having a contemplative evening and they’re coming together really nicely right now. I think having a currency, be it physical money or even a virtual currency like bitcoin or anything along those lines turns humans against themselves by making them betray their very own nature. Here’s a simplified and true example. Condensed. Scientists taught monkeys to use a currency. One of the first things that happened is a female monkey had sex with a male monkey and used the earned currency to buy a grape. So within about one day of monkeys having money the first monkey prostitute was born. You’re welcome and have a nice day. How does money turn is against our own nature? It’s a simple trick of our reward system. It’s the psychology behind money that keeps it going. Without the thought behind it it’s just useless inedible paper, metal or a bunch of tiny bits of information on a hard drive. Human reward systems are wired to go after the things that give us the greatest perceived reward and to spend the least amount of effort possible doing it. In nature, if you have two options, eat the apple that just fell on the ground in front of you or swim across a river to eat a grape on the other side, you will pick the apple on the ground. Why? Because the apple is a bigger reward and requires less energy. If you kept swimming across rivers to eat things on the other side instead of eating what’s right in front of you, you would put yourself at greater risk of drowning and eventually drown, starve or both. So our minds are geared towards finding the simplest solution. We’re also geared towards solutions that solve the most amount of problems with the least effort. For example we could keep wearing fur coats and walking around in the bush and keep getting wet and cold and making a fire to stay warm...toughing it out every day...getting attacked by predators. Or we could build a shelter and solve all of our wet and cold problems forever...and then also not have to worry about predators while we sleep. Although building a shelter requires more energy initially, you do it once and most problems are solved. So we will pick options that require more energy if the reward is greater. When our brains logical center picks up on the fact that we have done something that was easier and worked out better for us they will release chemicals that make us feel good. The reward for surviving a night in the forest is good. But the reward for building a shelter is much greater. More dopamine. That’s the reason people get hooked on crack. You do very little and you get a massive dopamine boost. Your mind learns that this minimal effort gives you the biggest perceived reward...and it keeps going. Why not? Less effort, massive reward. It’s in your nature. It’s how evolution favoured us for millions of years. It never changed. So what does this have to do with money? Money is a dopamine shortcut. You acquire money. The perceived reward of the money is much greater than the perceived reward of anything else. Your mind clues in like this: “Wait? There is something called money and all I have to to is get enough of it and ALL my needs will be met because I can buy anything I want?” That’s the biggest dopamine reward possible without inducing a chemical into your brain. Money = All Needs Met Our brains are meant to get tunnel vision when there’s an opportunity for a reward. That’s how they work. That tunnel vision is meant to blind us to the adversity we will have to face to get the reward. For example, if you are at the base of a cliff and you haven’t eaten for two days, but at the top of the cliff you can see that there is enough food to last you a year, you’re going to climb that cliff. You will set aside your fear of heights. You will set aside your hunger and aching muscles. You will pump up adrenaline and you will climb that cliff. Your body will numb the pain in your hands and feet from the sharp rocks. And you get to the top of that cliff. And you’re set for a whole year. If it wasn’t for the tunnel vision because you perceived a reward, you wouldn’t have climbed that cliff. This is all perfect in a natural environment. But we also evolved a special part of our brain that uses all kinds of logic and worst of all allows for abstract thinking. Suddenly, vague concepts in our brain can seem just as real as reality itself. This was meant to enable us to problem solve. So that if there is a problem, the perceived solution creates the same focus and tunnel vision and enables us to get things done. Let’s say I am hungry. I find some food. But it’s honey. It’s inside of a beehive. All that exists in reality is me and the bees that will sting me as I approach. But then my mind will create an alternate reality in a sense. It starts throwing abstract concepts around until it finds a solution that works. It presents the solution to the reward system the same way that that the senses themselves are hooked up to it. Suddenly, I see myself lighting a fire and smoking out the bees and eating the honey. This now seems just as real to me as reality itself. It takes that solution and tells me “if you do this you will get your dopamine reward”. The mirage in my mind that shows me the solution by meddling with the part of my brain that processes my senses blinds me a bit to other sensory input because it has to take up that space in the brain to create a fake reality in the hopes it will become real. It’s a phenomenon that’s been proven over millions of years to work. It’s what gives humans an edge over most animals. Instead of just instinct, theres now a processing edge that takes in a ton of data and performs advanced risk vs reward calculations and tells us what to do. It’s better than instinct. Instead of fight or flight, there’s now focused intention. It works. So I light a fire and smoke out the bees ignoring the odd minor sting because I know this is sure to work and I will get my honey in the end. So now we are a species that is meant to specifically expend energy to problem solve ways to best meet the most of our needs as easily as possible. And we have a currency that exists as a social concept that presents a solution to rapidly meet all our needs. We also have a reward system that will easily justify making sacrifices to meet our needs. This is a massive problem. A reward as great as money doesn’t exist in nature. However it exists as an abstract concept in our head that carries just as much weight in our decision making as something that exists for real. And the abstract concept presents a perceived reward far greater than anything we could attain from out environment. Basically, money only exists as an abstract concept. But our brains are wired to work with abstract concepts as if they were real because it enables our survival and is a part of how our thoughts work. So at some point in everyone’s life they are exposed to the abstract concept of money through language. The language creates thoughts that enable us to fall into a dopamine trap looking for a reward thats greater and requires less effort to attain. So now our brains do what they do best. They generate a strong focus. They get tunnel vision. They prepare your body and mind to go through the hurdles necessary to attain a reward. And worse, our minds reprioritize. In the example with the cliff, reprioritization plays a role. Normally avoiding heights and not cutting myself is high up on my list if things I want to avoid. We are wired to avoid pain. But the years worth of food creates a reprioritization. Suddenly a couple cuts don’t seem like a big deal. The thought of falling to my death, a risk normally avoided at all costs, suddenly is an afterthought in the quest for food. In the example with the cliff though there are limitations. There’s an upper limit to how far it will go. So if the rocks turn out to be way too sharp or it’s seemingly impossible to climb, I will look for a way around it and it all else fails give up and look for food elsewhere. But once inna while I will think of the cliff and maybe come up with a solution some day. But with money because we aren’t aware of it for what it really is and we haven’t given much thought to it, it basically slowly corrupts us. Every time we get money we get a dopamine hit. The more money we get, the bigger that dopamine hit is. The more we get the reward, the more the behaviour we chose to acquire it is reinforced. Just like the example with the beehive. I got the honey. I’ll remember it and find another beehive later. It just works. This is good for survival. We remember that getting money worked. We will do it again. Especially once we have experienced the moment of spending it and seeing that it does in fact work and that other people are all in on the secret. And because money gives us the greatest reward possible, we will go after it harder than we will go after everything else. The reprioritization and tunnel vision this causes are the biggest problem. The more money you get, the more you repeat the cycle, the more of a cash junkie you become. Why do addicts lie, cheat, steal, neglect their kids and ruin their lives? Because their minds have reprioritized to a bigger hit of dopamine by getting it the easiest way possible. It’s the same with money. But almost worse because it actually does work. And the reward is bigger. But the reprioritization seems to know no bounds. Here is the evil this brings into the world. It creates a conflict of interest. Everyone is out to get money as their primary goal. Or almost everyone. Only those who are intelligent and see through the dopamine trap tend to avoid it. And they usually end up cast aside by society because the society has reprioritized money over these individuals health and happiness. We reprioritize our own children out of our lives. Suddenly we can justify making them go to school with complete strangers and we honestly don’t know what their day is like. But it’s okay because the money we’re making solves all problems after all. It can solve their problems too that’s why they have a college fund. So we raise lonely damaged kids who will have money and no happiness and we go against our own nature. Naturally mothers and fathers are wired to spend 100% of their time with their children and take them with them unless they are doing something dangerous. We now to against out own wiring and dehumanize ourselves and our children because money is around the corner. Let’s say you have to get therapy. The fact that the therapist, who is supposed to be helping you, earns money to help you creates a conflict of interest. They will have a dopamine system that naturally drives them to want to earn more money. Which means instead of helping you the best they can, they will want to help you in a way that earns them the most cash. To the point where if you go through a crisis and need help the most but can’t pay because you’re short rent, they will literally sever a 2 year long relationship when you’re in your biggest time of need. Sadly, money has taken priority over actually helping the client. Lets say a police officer responds to your call for help. If it’s something that is less likely to get them ahead in their career, like a burglary in a poor area, they will be less motivated to help you even if the crime is more serious. They want to advance in their career to get more money so they will be less motivated to spend time and effort on you even if a terrible crime has been committed. Our whole healthcare system isn’t motivated to find cures for diseases but just treatments. As that solution makes the most sense when viewed through the skewed lens of the money dopamine taking precedence over all else. Money is now valued over the health and wellbeing of the patients. So there’s a conflict of interest with the healthcare system, pharmaceutical system and so on. The people working for those companies all want to make money and whether doing it consciously or subconsciously they will tend to lean towards options that get them more money because again it’s a he quickest way to the greatest reward. I hope you see where I’m going with this. Money is like a fucking drug. It doesn’t exist in nature and just in our heads which actually makes it worse than a drug. At least you can see drugs and the effect they are having on someone’s life. Money is much more insidious. You can tell how high someone is by looking at them. But you can’t tell how much money they have. And even if you can tell they have money because they’re flaunting it, your goal will suddenly become to be just like them. Because you think that it they have money, you can have money too if you do what they do. No one looks at Joe the crackhead and thinks “Oh my God I want to be like him when I grow up.” But everyone looks at Trump the billionaire, whose ONLY redeeming factor is that he’s the biggest junkie to cash on Earth. He put kids in fucking modern day concentration camps. And we’re all ignoring it. Because we’re all focused on other things. Saving those kids will probably be inconvenient for us anyway because we might get a criminal record which will make us less likely to earn money later. Or we might ruin our social status by talking about it which will ruin our ability to earn money later. So basically in short the whole world is completely fucked because about 90% of the population has an addiction to a currency that only exists in out heads, is probably on par with crack addiction as far as the severity it causes us to reprioritize our lives around it, and instead of seeing it as a problem we see it as something to aspire to because it’s in our nature to do that. You see someone fishing you want to learn how to fish because it’s an easier way to get food. You see someone making money and you want to do what they’re doing damn you and their and everyone else’s humanity because your dopamine is now hijacked by a concept your mind will never drop because it gives the greatest reward with the least energy expenditure. We hurt ourselves by neglecting our own needs because or the tunnel vision. We willingly hand our lives and most of our time over to people who have more money than us or a greater ability to earn money than us (we call them employers to cushion the blow and to feed into our own junkie like denial that we have a problem). There’s a lot more money to be made in cutting down the rainforest than there is to be made in saving it. And here is the worst part of all of this: There is no way out. Because the majority of the world is ruled by money there is nowhere to go to get away from it. If you decide you don’t want money you’re going to be hated by all the people who want money first and foremost and are in denial. People don’t like people who don’t care about money. Because they think like junkies. Their minds are so reprioritized that they can see someone freezing to death on the street and just think... Well I could help them but it would be inconvenient because it might get in the way of my sleep which would get in the way of work which would get in the way of me getting money. That’s basically what this is doing to us. So when the fuck are we going to realize that as a species at this point in time on planet Earth we collectively have an addiction which is destroying us and the entire planet we live on? When are we going to put down the proverbial crack pipe and realize “we have a problem” and go do a fucking cashaholics anonymous group and say... “I need to make amends to all the people I’ve hurt and the planet I’ve destroyed because of my problem. I’m destroying myself and my children. I’m ruining everyone’s life including my own. Because I have an addiction to money.”
Eth 2.0 vs Polkadot and other musings by a fundamental investor
Spent about two hours on this post and I decided it would help the community if I made it more visible. Comment was made as a response to this
I’m trying to avoid falling into a maximalist mindset over time. This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech. Can someone help me see the downsides of diversifying into DOTs? I know Polkadot is more centralized, VC backed, and generally against our ethos here. On chain governance might introduce some unknown risks. What else am I missing? I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
What else am I missing?
The upsides. Most of the guys responding to you here are full Eth maxis who drank the Parity is bad koolaid. They are married to their investment and basically emotional / tribal in an area where you should have a cool head. Sure, you might get more upvotes on Reddit if you do and say what the crowd wants, but do you want upvotes and fleeting validation or do you want returns on your investment? Do you want to be these guys or do you want to be the shareholder making bank off of those guys? Disclaimer: I'm both an Eth whale and a Dot whale, and have been in crypto for close to a decade now. I originally bought ether sub $10 after researching it for at least a thousand hours. Rode to $1500 and down to $60. Iron hands - my intent has always been to reconsider my Eth position after proof of stake is out. I invested in the 2017 Dot public sale with the plan of flipping profits back to Eth but keeping Dots looks like the right short and long term play now. I am not a trader, I just take a deep tech dive every couple of years and invest in fundamentals. Now as for your concerns:
I know Polkadot is more centralized
The sad truth is that the market doesn't really care about this. At all. There is no real statistic to show at what point a coin is "decentralized" or "too centralized". For example, bitcoin has been completely taken over by Chinese mining farms for about five years now. Last I checked, they control above 85% of the hashing power, they just spread it among different mining pools to make it look decentralized. They have had the ability to fake or block transactions for all this time but it has never been in their best interest to do so: messing with bitcoin in that way would crash its price, therefore their bitcoin holdings, their mining equipment, and their company stock (some of them worth billions) would evaporate. So they won't do it due to economics, but not because they can't. That is the major point I want to get across; originally Bitcoin couldn't be messed with because it was decentralized, but now Bitcoin is centralized but it's still not messed with due to economics. It is basically ChinaCoin at this point, but the market doesn't care, and it still enjoys over 50% of the total crypto market cap. So how does this relate to Polkadot? Well fortunately most chains - Ethereum included - are working towards proof of stake. This is obviously better for the environment, but it also has a massive benefit for token holders. If a hostile party wanted to take over a proof of stake chain they'd have to buy up a massive share of the network. The moment they force through a malicious transaction a proof of stake blockchain has the option to fork them off. It would be messy for a few days, but by the end of the week the hostile party would have a large amount of now worthless tokens, and the proof of stake community would have moved on to a version of the blockchain where the hostile party's tokens have been slashed to zero. So not only does the market not care about centralization (Bitcoin example), but proof of stake makes token holders even safer. That being said, Polkadot's "centralization" is not that far off to Ethereum. The Web3 foundation kept 30% of the Dots while the Ethereum Foundation kept 17%. There are whales in Polkadot but Ethereum has them too - 40% of all genesis Ether went to 100 wallets, and many suspect that the original Ethereum ICO was sybiled to make it look more popular and decentralized than it really was. But you don't really care about that do you? Neither do I. Whales are a fact of life.
VCs are part of the crypto game now. There is no way to get rid of them, and there is no real reason why you should want to get rid of them. They put their capital at risk (same as you and me) and seek returns on their investment (same as you and me). They are both in Polkadot and Ethereum, and have been for years now. I have no issue with them as long as they don't play around with insider information, but that is another topic. To be honest, I would be worried if VCs did not endorse chains I'm researching, but maybe that's because my investing style isn't chasing hype and buying SUSHI style tokens from anonymous (at the time) developers. That's just playing hot potato. But hey, some people are good at that. As to the amount of wallets that participated in the Polkadot ICO: a little known fact is that more individual wallets participated in Polkadot's ICO than Ethereum's, even though Polkadot never marketed their ICO rounds due to regulatory reasons.
generally against our ethos here
Kool aid. Some guy that works(ed?) at Parity (who employs what, 200+ people?) correctly said that Ethereum is losing its tech lead and that offended the Ethereum hivemind. Oh no. So controversial. I'm so personally hurt by that. Some guy that has been working for free on Ethereum basically forever correctly said that Polkadot is taking the blockchain tech crown. Do we A) Reflect on why he said that? or B) Rally the mob to chase him off?
Also Parity locked their funds (and about 500+ other wallets not owned by them) and proposed a solution to recover them. When the community voted no they backed off and did not fork the chain, even if they had the influence to do so. For some reason this subreddit hates them for that, even if Parity did the 100% moral thing to do. Remember, 500+ other teams or people had their funds locked, so Parity was morally bound to try its best to recover them. Its just lame drama to be honest. Nothing to do with ethos, everything to do with emotional tribalism. Now for the missing upsides (I'll also respond to random fragments scattered in the thread):
This isn’t a 100% ETH question, but I’m trying to stay educated about emerging tech.
A good quick intro to Eth's tech vs Polkadot's tech can be found on this thread, especially this reply. That thread is basically mandatory reading if you care about your investment. Eth 2.0's features will not really kick in for end users until about 2023. That means every dapp (except DeFI, where the fees make sense due to returns and is leading the fee market) who built on Eth's layer 1 are dead for three years. Remember the trading card games... Gods Unchained? How many players do you think are going to buy and sell cards when the transaction fee is worth more than the cards? All that development is now practically worthless until it can migrate to its own shard. This story repeats for hundreds of other dapp teams who's projects are now priced out for three years. So now they either have to migrate to a one of the many unpopulated L2 options (which have their own list of problems and risks, but that's another topic) or they look for another platform, preferably one interoperable with Ethereum. Hence Polkadot's massive growth in developer activity. If you check out https://polkaproject.com/ you'll see 205 projects listed at the time of this post. About a week ago they had 202 listed. That means about one team migrated from another tech stack to build on Polkadot every two days, and trust me, many more will come in when parachains are finally activated, and it will be a complete no brainer when Polkadot 2.0 is released. Another huge upside for Polkadot is the Initial Parachain Offerings. Polkadot's version of ICOs. The biggest difference is that you can vote for parachains using your Dots to bind them to the relay chain, and you get some of the parachain's tokens in exchange. After a certain amount of time you get your Dots back. The tokenomics here are impressive: Dots are locked (reduced supply) instead of sold (sell pressure) and you still earn your staking rewards. There's no risk of scammers running away with your Ether and the governance mechanism allows for the community to defund incompetent devs who did not deliver what was promised.
Wouldn’t an ETH shard on Polkadot gain a bunch of scaling benefits that we won’t see natively for a couple years?
Yes. That is correct. Both Edgeware and Moonbeam are EVM compatible. And if the original dapp teams don't migrate their projects someone else will fork them, exactly like SUSHI did to Uniswap, and how Acala is doing to MakerDao.
Although realistically Ethereum has a 5 yr headstart and devs haven't slowed down at all
Just because it's "EVM Compatible" doesn't mean you can just plug Ethereum into Polkadot or vica versa, it just means they both understand Ethereum bytecode and you can potentially copy/paste contracts from Ethereum to Polkadot, but you'd still need to add a "bridge" between the 2 chains, so it adds additional complexity and extra steps compared to using any of the existing L2 scaling solutions
That only applies of you are thinking from an Eth maximalist perspective. But if you think from Polkadot's side, why would you need to use the bridge back to Ethereum at all? Everything will be seamless, cheaper, and quicker once the ecosystem starts to flourish.
I see a bunch of posts about how Ethereum and Polkadot can thrive together, but are they not both L1 competitors?
They are competitors. Both have their strategies, and both have their strengths (tech vs time on the market) but they are clearly competing in my eyes. Which is a good thing, Apple and Samsung competing in the cell phone market just leads to more innovation for consumers. You can still invest in both if you like. Edit - link to post and the rest of the conversation: https://www.reddit.com/ethfinance/comments/iooew6/daily_general_discussion_september_8_2020/g4h5yyq/ Edit 2 - one day later PolkaProject count is 210. Devs are getting the hint :)
Bitcoin vs. Credit Card Transactions: What's the Difference?
Bitcoin vs. Credit Card Transactions: An Overview
Most people have a credit card they can use to pay for things. But some also have bitcoin at their disposal. Which one should people use, and when, to maximize their assets?
Satoshi Nakamoto, the inventor of bitcoin, titled his original white paper on the subject "A Peer-to-Peer Electronic Cash System." This description touches on the core differences between bitcoin and credit card transactions. Bitcoin payments are analogous to wire transfers or cash transactions, where payment is "pushed" directly from one party to another, without going through another financial institution. Payment processing is executed through a private network of computers, and each transaction is recorded in a blockchain, which is public. Bitcoin is based on peer-to-peer technology and relies on the blockchain and the cryptography securing it, without any third-party oversight. When making a bitcoin transaction, it is not necessary to provide personal identification, such as your name and address.
Credit Card Transactions
By contrast, credit card transactions entail the buyer effectively authorizing the seller to "pull" a payment from their account, passing through financial intermediaries in the process. For example, a typical Visa transaction involves four parties: the merchant, the acquirer (the financial institution that enables payments to the merchant), the issuer (the cardholder's bank), and the individual cardholder.
Bitcoin transactions are made using an anonymous alphanumeric address, that changes with every transaction, and a private key. Payments can also be made on mobile devices by using quick response (QR) codes. While credits cards are stored physically in a wallet, bitcoin transactions are sent to and from electronic wallets, which can be stored on your computer, smartphone, or in the cloud. Bitcoin transactions are irreversible and can only be refunded by the receiving party—a key difference from credit card transactions that can be canceled. This means there are no charge-backs for merchants when taking payment via bitcoin. A charge-back is the demand by a credit-card provider for a retailer to cover the loss on a fraudulent or disputed transaction. Bitcoin merchants also save on credit card fees that can range anywhere from 0.5% to 5%, plus a 20 to 30 cent flat fee for each transaction made. Bitcoin payments can be sent and received at a very low cost or none at all, as bitcoin fees are based on the amount of data sent. For merchants, the advantages of receiving bitcoin are obvious. Payments made using the virtual currency save substantially on processing fees and eliminate the risk of charge-backs. For shoppers, the advantages of paying with bitcoin include greater simplicity in placing the transaction, user anonymity, no interruptions from intermediaries, and very low transaction fees. (For example, your account being frozen as a result of a fraud alert). Credit cards offer important beneficial features, such as the ability to borrow money, protection against fraud, reward points, and vastly wider acceptance among merchants. While a few major retailers, including Overstock.com (OSTK) and Newegg, have started to accept bitcoin, most have yet to make it a payment option. However, using credit cards carries the risk of incurring late fees, interest charges, foreign transaction fees, and potentially adverse effects on your credit score.
An Intense Pursuit of a Wife, Wealth & Wisdom Rewarded with Charley Donaldson
An Intense Pursuit of a Wife, Wealth & Wisdom Rewarded with Charley Donaldson Charley Donaldson is my guest. He’s a long-time friend and serial entrepreneur who has founded or co-founded five companies over the last six years. Today, he spends most of his time at the helm of two early-stage technology startups: CaringBand and DonationScout. Charley describes himself as a fearless, yet paranoid entrepreneur. He says that he’s abandoned the easier road to career & financial success in search of his true calling. I’ve known Charlie since we graduated from Cy-Falls High School together in 1998—Charley was our class’ quarterback. After high school, he poll vaulted at LSU before transferring to Baylor. One of the things that drives Charley is ensuring he didn’t peak in high school (no problem to this point). In this episode, we recall our time at Cy-Falls. I ask him about his rivalry with Langham Creek star quarterback Joseph Smith. And why Charley ultimately chose track & field over football. Charley’s now a husband, father of three—they live in The Woodlands, TX. We discuss the journey of his startup, CaringBand—from idea to market. Charley says he and his wife created the business after his mother-in-law’s successful battle with breast cancer in 2016. This conversation was fun. Lotta laughs. Please enjoy! Other topics discussed:
Why Charley decided to pole vault in college
The concept of progression
The effects of paranoia on Charley [as an entrepreneur]
Why athletes make for great entrepreneurs
High-net-worth individuals vs ultra HNWIs
Importance of vendor-partners in business
Crowdfunding by way of Kickstarter
CaringBand’s target customers
Male / female differences in decision-making
Networking after college
Charley is a risky investor
What it means to “step-up in basis”
What Charley’s typical day looks like
Charley’s biggest investment mistake
His daughter Kate’s brilliant idea
Brad’s future travel plans after baby
Warren Buffett’s leveraged investing
Did you know coming into 9th grade that you’d be competing with the quarterbacks of other junior highs (Truitt, Watkins, Cook)?
What were your prospects of starting?
Did you feel a sense of unfairness when you got to 9th grade and you’re competing with guys that were older than you?
Did you have any opportunities to play beyond high school?
How does a kid decide to become a pole vaulter?
Were you recruited by many schools to be their pole vaulter?
What makes you paranoid [as an entrepreneur]? What does it lead you to do? How does [paranoia] manifest?
Why do you think it’s common for athletes to be entrepreneurs?
Can you talk about where the idea for CaringBand came from?
What’s considered high-net-worth vs. ultra high-net-worth?
When did you realize that you were going to seek outside investors [for CaringBand]?
Are there mistakes from other entrepreneurial endeavors that you were able to correct for this [CaringBand] concept?
How important is social media marketing?
How did you decide to go with Kickstarter?
Who’s your ideal customer [for CaringBand]?
Do you think it’s male / female differences that led you to a struggle with your wife?
Do you think transferring schools helped you to gain connections?
What were the conversations like in your house when you decided to become a full-time entrepreneur?
What is your overarching investing strategy?
Do you invest in any individual stocks?
What’s the biggest mistake you’ve ever made, investment-wise?
Do you teach your kids about money & investing?
Were you conscious about not coddling your kids and exposing them to the negative aspects of life?
Do you have to put reins on yourself sometimes from getting too excited/involved as a parent?
Have you ever felt an obligation to learn Bitcoin because of your clients?
Is not wanting something as good as having it?
Did you have a high school sweetheart?
Social media – net positive or net negative for society?
When is the first time you logged on to the Internet and what did you do?
What is something you’ve learned from your kids that you share the most with people?
If somebody dropped $1 million in your lap tomorrow, what would you do with it?
If somebody gave you $100,000 tomorrow and forced you to invest in 3 companies: Apple, Amazon, and Tesla – how would you allocate those funds?
Same dollar amount, but you’re forced to allocate $100,000 toward gold or Bitcoin – how do you divide that up?
Do you have a favorite book?
Do you have a favorite podcast?
Who’s the best quarterback ever?
Overrated/Underrated: Maria Bartiromo, Jim Cramer, Mark Cuban, Randy Yost, DeShaun Watson, Bill O’Brien, Aaron Rogers
the year 2020 in Bitcoin Cash so far: a detailed history
the year 2020 in Bitcoin Cash so far: a detailed history What follows at the bottom is a four page long chronological overview of what happened in BCH in 2020 so far. To make it more digestable and fun to read I start with my narrating of the story. My attempt was to remain as objective as possible and "let the facts speak for themselve" with everything sourced. I also link to manyread.casharticles, the decision of which are the important ones to include is certainly not easy, I count on the rest of the community if I overlooked anything important. summary & my narrating of the story: The year started out relatively calm, with cashfusion in "the news" and an older ongoing controversy between Amaury and Roger Ver being worked out. Starting Jan 22nd all debate broke loose with the announcement of “Infrastructure Funding Plan for Bitcoin Cash” by Jiang Zhuoer of BTC.TOP. To illustrate this point 2 days later coinspice ran the title " Roger Ver Praises Vigorous Debate, [...]" and 6 days, less than a week, later Chris Pacia made a read.cash post titled "The 253rd "Thoughts on developer funding" Article" which might have been only a slight exaggeration or he might have been counting. Part of the reason of the tsunami was the lack of worked out details. By the time of Pacia's post a lot had changed: Both BU, Bitcoin Verde and a group of miners had made announcements not to go along with "the plan". On feb 1st, the second version of the IFP was announced by Jiang Zhuoer in a post “BCH miner donation plan update”. Two weeks later on Feb 15th, the third iteration was announced by Bitcoin ABC which was to be activated by hashrate voting and on the same day Flipstarter was introduced, a sign of the search for alternative solutions. After a few more days and a few more people coming out more against the IFP (including Jonald Fyookball, Mark Lundeberg & Josh Ellithorpe), BCHN was announced on feb 20th with a formal release a week later. Also feb 27th, the DAA was brought back into the conversation by Jonathan Toomim with his " The BCH difficulty adjustment algorithm is broken. Here's how to fix it." video. By early march the IFP was effectively dead with its author Jiang Zhuoer vowing to vote against it. This became clear to everyone when ABC, a day later sudddenly shifted gears towards non-protocol, donation based funding: the IFP was dead. End march ABCs 2020 Business Plan was announced as a way to raise $3.3 million. Mid april to mid may was the high time for voluntary funding with four node implementations and General Protocols, a BCH DeFi Startup successfully raising funds. By May 15th, the 6th HF network upgrade things had pretty much cooled down. The upgraded included nothing controversial and even saw an unexpected doubling in the unconfirmed transaction chain. June 15th a month later things started to heat up again with the BCHN announcement to remove the "poison pill" or "automatic replay protection". 8th Jul Jonathan Toomim posted "BCH protocol upgrade proposal: Use ASERT as the new DAA" which promised the solution to the long dragging DAA problem. Jul 23th however an unexpected twist occurred when Amaury Séchet posted "Announcing the Grasberg DAA" an incompatible, alternative solution. This, again, sparked a ton of debate and discussion. Grasberg lasted just two weeks from Jul 23th to Aug 6th when ABC announced its plans for the november 2020 upgrade but it had successfully united the opposition in the meanwhile. ABCs plan for november included dropping grasberg in favour of aserti3–2d and introducing IFPv4. Now we're here August 8th, the IFP which was declared dead after just over a month (Jan 22-Mar 5) is now back in full force. The rest of the history is still being written but if p2p electronic cash is to succeed in any big regard it's very thinkable that these events will get into history books. Important resources:coinspice IFP timeline&Compiled list of BCH Miner Dev Fund posts, articles, discussions History Jan 13th : “Do CoinJoins Really Require Equal Transaction Amounts for Privacy? Part One: CashFusion” article by BitcoinMagazine [source] Jan 13th : “Clearing the Way for Cooperation” Read.cash article by Amaury Séchet [source] on the controversy with Roger Ver about the amount of donations over the years Jan 22nd : “Infrastructure Funding Plan for Bitcoin Cash” IFPv1 announced by Jiang Zhuoer of BTC.TOP [source] IFPv1: 12.5% of BCH coinbase rewards which will last for 6 months through a Hong Kong-based corporation & to be activated on May 15th Jan 22nd : ”Bitcoin Cash Developers React to Infrastructure Fund Announcement: Cautiously Optimistic” coinspice article including Amaury Séchet, Antony Zegers, Jonald Fyookball & Josh Ellithorpe [source] Jan 23rd : Jiang Zhuoer reddit AMA [source] [coinspice article] Jan 23rd : Vitalik weighs in with his take on twitter [source] Jan 23rd :” On the infrastructure funding plan for Bitcoin Cash” article by Amaury Séchet [source] [coinspice article] in which he proposed to place control of the IFP key in his hands together with Jonald Fyookball and Antony Zegers. . A group of 7 to 12 miners, developers, and businessmen in total would get an advisory function. Jan 24th : “Bitcoin.com's Clarifications on the Miner Development Fund“ which emphasizes, among other things, the temporary and reversible nature of the proposal [source] [coinspice article] Jan 24th : “Little Known (But Important!) Facts About the Mining Plan” Read.cash article by Jonald Fyookball in which he defended the IFP and stressed its necessity and temporary nature. Jan 25th : massive amounts of public debate as documented by coinspice [coinspice article] with Justin Bons, Tobias Ruck and Antony Zegers explaining their take on it. Jan 26th : public debate continues: “Assessment and proposal re: the Bitcoin Cash infrastructure funding situation” Read.cash article by imaginary_username [source] which was noteworthy in part because the post earned over Earns $1,000+ in BCH [coinspice article] and “The Best Of Intentions: The Dev Tax Is Intended to Benefit Investors But Will Corrupt Us Instead” by Peter Rizun [source] Jan 27th : “We are a group of miners opposing the BTC.TOP proposal, here's why” article on Read.cash [source] [reddit announcement] Jan 27th : Bitcoin Unlimited's BUIP 143: Refuse the Coinbase Tax [source][reddit announcement] Jan 28th : “Bitcoin Verde's Response to the Miner Sponsored Development Fund” read.cash article by Josh Green in which he explains “Bitcoin Verde will not be implementing any node validation that enforces new coinbase rules.” [source] Jan 28th : “Update on Developer Funding” read.cash article from Bitcoin.com [source] in which they state “As it stands now, Bitcoin.com will not go through with supporting any plan unless there is more agreement in the ecosystem such that the risk of a chain split is negligible.” And that “any funding proposal must be temporary and reversible.” This announcement from bitcoin.com and their mining pool lead the anonymous opposition miners to stand down. [source] Jan 28th : The 253rd "Thoughts on developer funding" Article – by Chris Pacia, to tackle the “serious misconceptions in the community about how software development works”. He ends on a note of support for the IFP because of lack of realistic alternatives. [source] Feb 1st: “BCH miner donation plan update” IFPv2 announced by Jiang Zhuoer of BTC.TOP [source] Which changes the donation mechanism so miners directly send part of their coinbase to the projects they wants to donate to. It would be activated with hashrate voting over a 3-month period with a 2/3 in favour requirement. The proposal also introduces a pilot period and a no donation option, Jiang Zhuoer also says he regards 12.% as too much. Feb 7th: Group of BCH miners led by AsicSeer voice scepticism about the IFP during a reddit AMA [source] Feb 15th: “On the Miner Infrastructure Funding Plan” article by Bitcoin ABC [source] In which they announce they will implement IFPv3 in their upcoming 0.21.0 release. This version has amount reduced to 5% of block reward and will go in effect with BIP 9 hashratevoting and a whitelist with different projects. Feb 15th : “Introducing Flipstarter” [source] Feb 16th :” Bitcoin.com’s stance on the recent block reward diversion proposals” video by Roger Ver on the Bitcoin.com Official Channel. [source] > Ver called Zhuoer’s IFP “clever” but ultimately “problematic.” [coinspice article] Feb 16th :” BCH miner donation plan update again” read.cash article by Jiang Zhuoer of BTC.TOP [source] In which he briefly outlines the details of IFPv3 Feb 17th : “Latest Thoughts On Infrastructure Mining Plan” post by Jonald Fyookball [source] Feb 17th : “Regarding the Bitcoin Cash Infrastructure Funding Plan, I am certain now that it should be scrapped immediately.” tweet by Mark Lundeberg [source] Feb 19th : “Thoughts on the IFP - A Dev Perspective“ read.cash article by Josh Ellithorpe [source] Feb 20th : “Bitcoin Cash Node” post announcing the new node implementation [source] Feb 20th : First “Bitcoin Cash Developer Meeting” After IFP Proposal [source] Feb 24th : “Flipstarter 500k, 6 independent campaigns” post announcing the goal to “fund the BCH ecosystem with 6 independent campaigns and an overall 500,000 USD target” [source] Feb 27th : BCHN Formally Released [source] Feb 27th : “The BCH difficulty adjustment algorithm is broken. Here's how to fix it.” Video by Jonathan Toomim [source] Mar 3th :” Bitcoin Cash Node 2020: plans for May upgrade and beyond” post by BCHN [source] Mar 4th :”Author of the Bitcoin Cash IFP [Jiang Zhuoer] Vows to Vote Against It, Using Personal Hash in Opposition” [source] Mar 5th :Bitcoin ABC announces their 2020 Business Plan Fundraising for later in march [source] Mar 15th : “EatBCH campaign funded! Next: node campaigns.” campaign funded after 11 hours [source] Mar 30th : Bitcoin ABC 2020 Business Plan [source] $3.3 Million Fundraiser [source] Apr 17th : Five flipstarter node campaign launched. [source] Apr 26th : BCHN flipstarter campaign successfully funded. [source] Apr 27th : VERDE flipstarter campaign successfully funded. [source] May 4th : KNUTH flipstarter campaign successfully funded. [source] May 7th : “BCH DeFi Startup General Protocols Raises Over $1 mil“ [source] May 8th : BCHD flipstarter campaign successfully funded. [source] May 9th : Deadline for node campaigns, ABC flipstarter campaign not funded. [source] May 14th : “With IFP Defeated, Bitcoin ABC, ViaBTC & CoinEX CEO Publicly Consider a Bitcoin Cash Foundation” [source] May 15th : deadline for ABC fundraiser campaign, ends at 55% completed. [source] May 15th : 6th HF network upgrade -> new opcode op_Reversebytes, increased of the chained transaction limit from 25 to 50, and the improved counting of signature operations using the new “Sigchecks” implementation [source] with the “Controversial Funding Plan Rejected by Miners” [source] May 25th : “Announcing the SLP Foundation” [source] Jun 15st : “BCHN lead maintainer report 2020-06-15” announcement to remove the Automatic Replay Protection (a.k.a. the Poison Pill) from BCHN in november [source] Jun 16st : “So [BCHN] is going to fork off from BCH at the next upgrade. Same old story. […]” tweeted Vin Armani [source] Jun 21st : “Why Automatic Replay Protection Exists” post by Shammah Chancellor [source] Jul 7th : “The Popular Stablecoin Tether Is Now Circulating on the Bitcoin Cash Network” [source] Jul 8th : “BCH protocol upgrade proposal: Use ASERT as the new DAA” post by Jonathan Toomim [source] Jul 18th : “$6M Worth of Tether on the Bitcoin Cash Chain Highlights the Benefits of SLP Tokens” [source] Jul 23th : “Announcing the Grasberg DAA” post by Amaury Séchet[source] Jul 24th : “Thoughts on Grasberg DAA” post by Mark Lundeberg [source] Jul 29th : CashFusion security audit has been completed [source] Jul 31st : Electron Cash 4.1.0 release with CashFusion support [source] 4th year, august 2020 – 2021 Aug 1st : “Bitcoin Cash: Scaling the Globe“ Online conference for ForkDay Celebration [source] Aug 2nd : >“Is there going to be a fork between ABC and BCHN?” > “IMO it is very likely. If not in November, then next May.” – Amaury Séchet Aug 3rd : “Dark secrets of the Grasberg DAA” post by Jonathan Toomim [source] Aug 3rd : “Joint Statement On aserti3-2d Algorithm“ post by General Protocols, including Cryptophyl, Read.cash, Software Verde & SpinBCH [source] Aug 3rd : Knuth announces they will be implementing aserti3-2d as DAA for november. [source] Aug 3rd : Amaury rage quit from the developer call [source] Aug 4th : “But why do people care about compensating for historical drift? Seems like a tiny problem and if it's causing this much social discord it seems not even worth bothering to try to fix.” Tweet by Vitalik [source] Aug 5th : “Bitcoin Cash (BCH) November 2020 Upgrade statement” signed by BCHD, electron cash, VERDE, BU members, BCHN developers, Jonathan Toomim, Mark B. Lundeberg and many others [source] Aug 5th : “BCHN FAQ on November 2020 Bitcoin Cash network upgrade” [source] Aug 6th : “Bitcoin ABC’s plan for the November 2020 upgrade” [source] the announcement that they will drop Grasberg in favour of aserti3–2d (ASERT) and will also include FPv4 in which 8% of the blockreward goes to ABC as development funding. Aug 7th : “Joint Statement from BCH Miners regarding Bitcoin ABC and the November 2020 BCH Upgrade.” Read.cash article by asicseer [source] stating “Over recent months, most miners and pools have switched to BCHN, and presently operate a majority of BCH hashrate.” Aug 7th : “Simple Ledger Protocol's Joint Statement Regarding Bitcoin ABC on BCH's November 2020 Upgrade” read.cash post by the SLP-Foundation [source]
The Legend of Tesla’s Bitcoin!⚡️ 3 x Tesla Giveaway , 5 BTC and 100ETH, best RPG cross chain dapp
⚡️The Legend of Tesla’s Bitcoin!⚡️ https://preview.redd.it/9e5a0nc40jg51.png?width=1024&format=png&auto=webp&s=ddee1e7903e6a2268a5eeedfd0c7575931e68241 ChainZ Arena is the first-ever cross-blockchain/platform idle mining RPG game, giving its a unique gameplay pitting TRON VS. EOS VS. ETH in one Arena. Combining EOS, Ethereum and the TRON blockchain allowing users to join together in one virtual world where only one can reign supreme. The only thing that is left for you to do is try it out and defend your blockchain! If you are new to Chainz Arena, read our guide here: https://medium.com/@ChainZArena/the-guide-to-chainz-arena-5baa5510c715 Here are more details about the event ! ⭐️Each Advanced Summon will be rewarded with a King’s Chest. to open a chest you will need to consume King’s chest or 1.8 SOUL (cannot use frozen SOUL). Each King’s Chest will contain one of the following: ⭐️Tesla Model 3 (total 2) ⭐️BTC (total 4) ⭐️ETH x 10 (total 9) ⭐️Dragon Orbs 1–9 stars ⚡️ChainZ Conqueror- Event 2⚡️ ⭐️Dragon Orbs can be exchanged for SOUL rewards. You will also receive Elon’s Star points. Star points will be used in the Leaderboard. ⭐️1st : 1 x Tesla Model 3 ⭐️2nd : 1 x BTC ⭐️3rd : 1 x 10 ETH ⭐️4th-200th: Share 50k SOUL ❗️Notes: a. No SOUL will be rewarded for advance summoning during the event. b. Dragon Orb rewards will be rewarded immediately, all other rewards will be sent after event ends. c. ChainZ Conqueror rewards will be sent after event ends d. Dragon orbs can be sold individually, but will not gain star points e. Tesla rewards will be delivered in selected countries only. If in any case Tesla cannot be delivered the equivalent in USDT ($42000) will be sent So one question remains are you ready to do all it takes to take part in this LEGENDARY event and be in it to win it? Play & Earn ChainZ Arena
Escape from Tarkov New Player Guide 2.0: 75 Pages and packed with all the information you could ever need for success!
Greetings, this is dumnem, also known as Theorchero, but you can call me Theo. I'm an experienced Tarkov player and I'm writing this guide to try and assist new Tarkov players learn the game, because it has one hell of a learning curve. We'll be going over a lot of different aspects of this guide, and it is going to be huge. Feel free to digest this in parts. Additionally, this is a work in progress. I will write as much as I can in one Reddit post, but subsequent parts will be in additional comments. Google Docs Version (Note: Link is placeholder atm, but here is a sneak preview!) Disclaimer: Tarkov recently updated to .12! That's a HUGE amount of information that I need to update. Please be patient! If there is anything I have gotten wrong or may have omitted, please let me know. This is Primarily directed towards Tarkov Novices, but should be useful for even Tarkov Veterans. It hopefully includes everything you need to know to be able to go into a Raid equipped for success and to successfully extract with gear. Want to play with friends? Want to have fun and learn Tarkov? Check out my discord here.
[Updated for .12]
Money making strategies completed.
Minor grammar adjustments, adding additional medical items.
Added additional resources, updated old ones.
Hideout section complete
Table of Contents
Tarkov Overview - What is Escape from Tarkov?
Tarkov Resources - Useful links
Tarkov's Health System
Tarkov's Hideout System
Tarkov's Quest System and Progression
Tarkov's Hotkeys to Know
New Player's loadouts - LL1 Traders
What to Loot - How to get the most money per slot
Stash Management - How to combat Gear Fear
Tarkov Economy - How do I make money?
Tarkov Overview - What is Escape from Tarkov?
Escape from Tarkov is a tactical, realistic, FPS with MMO elements developed by Battlestate Games. It is currently in closed Beta. The game features several maps in which your primary character, your PMC, goes into Raids in order to find and salvage loot and useful equipment to survive and thrive in Tarkov. Death is very punishing in Tarkov. If you die you lose everything you had on you when you die (with the exception of what's inside your Container and your melee weapon) including any equipment you brought with you or what you found inside the Raid. Enemies can be players (PMCs) or Scavengers ('Scavs') that are either controlled by AI or by players. Unlike many shooters, AI enemies in Tarkov are deadly - they can and will kill you on sight. They have recently been upgraded to act more intelligently, shoot more accurately, and react to situations on the map, such as investigating noise of gunfire or searching. It features beautiful and immersive environments, intricate and in-depth weapon modification system, a complex health system, dynamic and specific loot placement, and multiple options for engagement. Do you want to play slow and stealthy, to avoid fights, or set up a deadly ambush on an unwary foe? Or do you prefer raw combat, where only your quick wit, placements of shots, and tenaciousness determines who gets out alive? It's your Tarkov. You make the rules.
Tarkov Resources - Useful links
I take no credit or responsibility for any of the content in these links. To the best of my knowledge, these are updated consistently and are accurate, but user beware.
Huge collection of all the keys in the game. These are also on the wiki, but this page has them all on one page, and tries to inform the user if the key is worth keeping or using. Check it out here. This section is open to revision. Mention me in a thread (or in the comments below) about a resource and I'll see about adding it here.
Courtesy of Veritas (Send me his reddit username?), It's located here. (Open in new tab.) Contains: Detailed information about: Ammunition, Health, Firearms, Body Armor, Helmets, Rigs & Backpacks, Labs & Quest keys. Outdated! Needs to be updated for .12
Offline Raids - Player Practice
Offline raids is a feature added for testing and learning purposes for both new and veteran players alike. It is an incredibly useful tool. In an offline raid, your progress is not saved. This means you don't keep anything you find, keep any experience 'earned' if you successfully extract, or lose any gear when/if you die. To access OFFLINE Raids, head into a Raid normally until you see this screen. Then Check the box indicating that you want to do an OFFLINE raid and you're good to go! You even have a choice on whether or not to add AI. You can also control how many AI enemies spawn, fewer than normal or a great deal more! You can even make Scavs fight each other. (Framerates beware.) You can control how many scavs spawn (if any) as well as a number of other paramaters. New players should use offline raids as a tool to practice shooting, controls, movement, etc.
Tarkov features several maps - ranging from wide, beautiful vistas to ruined factory districts, to an abandoned laboratory where illegal experiments were being conducted. It is important to learn the maps you intend to play. In order to keep your gear, you must 'extract' at one of your designated exfiltration points. Not all extracts will be active every game, and some are conditional.
To see what extracts are available to you, double tap 'O' to show raid time and your exfils. If it has a ???? it might not be open.
Gate 3 Extract A small, fast-paced map that was primarily created for PvP. Scavs spawn in all the time. Very close quarters, shotguns and SMGs tend to dominate here. PMCs can only access one Exit (Gate 3) without the Factory Exit Key. Good place to go if you need PMC kills as action is pretty much guaranteed. It is recommended NOT to bring in a lot of gear to Factory until you are experienced. Factory Map in PvP is best played in Duos - due to the layout of the map, a Maximum of 6 PMCs may be present in the game. Due to the split spawn points, you effectively have 'sides' that have up to 3 spawn locations that are close together. This is why it is recommended to secure/scout enemy spawn locations. If you go in with a Duo, you at max have 2 players on your side for an even 2v2, and if played smartly you can eliminate them and know your 'side' is secure from aggression for the time being. Upon loading in, scavs usually take a couple minutes to spawn, though this depends on the server in question and isn't super reliable. For new players, the best loadout in Factory is going to be a MP-153 Loadout - using just an MBSS (or similar bag) and ammo in your pocket to fight other players and Scavs. Scavs will often spawn with AKs and other 'vendorable' weapons, so is a good source of income. Factory is also one of the best maps to Scav into, as Scavs can typically avoid the Exit camping strategy employed by a lot of weaker or newer players in order to secure gear, because they typically have extra exfiltrations whereas PMCs without the Factory Exit Key are stuck using Gate 3. If you go in with a modicum of gear, it is recommended to keep at least a flashbang (Zarya) in your container. This will allow you to quickly slot it into an empty chest rig or pocket so you can throw it into the exit door, this will flash enemies and is cheap to do - the one time you survive because you flashed the 3 exit campers using shotguns will make this strategy extremely valuable.
Extract map A fairly large map that was recently expanded and is expected to receive an overhaul within a patch or two, due to the choke point design of the map. Essentially, players spawn either on 'warehouse' or 'boiler (stacks)' side. If you see a large red warehouse ('big red') near you (Customs Warehouse), then you spawned on the warehouse side. If you don't, you likely spawned near Boiler side. Players can also spawn in several places in the woods North of boilers. This map has the most quests in the game. Geared players often come to customs to challenge other squads over Dorm loot and to fight a Scav boss. New players are usually trying to do one of several early quests, such as ‘Debut’ which tasks them with killing 5 scavs on Customs and acquiring 2 MR-133 shotguns (pump shotties) from their corpses. Construction is also a popular hotspot as it has a lot of scav spawns as well as the location for the Bronze Pocketwatch, which is Prapor’s second quest. Customs itself does not offer very much loot on average. There are several spots which can contain decent, but the vast majority is located in a couple different locations. Dorms is the best loot location for Customs. It has two sets, 2 story and 3 story dorms. They each have their own sections of good loot, but the best is considered to be 3 story dorms, due to the presence of the Marked Room. The marked room requires a marked key to open, and has a good chance to spawn rare loot, such as keytools, documents cases, weapons cases, and high-end weapons. Due to the nature of the high value of this room, it’s almost always contested and it’s one of the best rooms in the game to farm, albeit with difficulty to successfully extract with the loot found. Note, though the key required has a maximum amount of uses, it is a fairly cheap key, and worth buying if you like to run customs and go to Dorms. Dorms also has a ton of early quests (Operation Aquarius, for one) with some keys being valuable to use, but most dorms keys aren’t worth that much on the market. There’s too many to list here, but make sure to check the Map Keys and You at the top of the guide to determine what the value of a particular key is. Checkpoint (Military Checkpoint) is also a decent loot spot, though not nearly as good as Dorms. If you have the key, it has a grenade box and 2 ammo boxes which can spawn good ammo. The jacket in the blue car also can spawn good medical keys as well as medical items. It is very close to the gas station, so I’ll include that here as well. The Gas Station is one of the possible spawn locations for the scav boss. It has loose food items, a weapon box in the side room, with two keyed rooms leading to a safe and a med bag and box. Also contains a couple registers and food spawns on the floor. The emercom key can spawn on the seat in the ambulance out front. North of the gas station is the Antenna, which contains 3 weapon boxes, a tool box, and a med bag. Possible location for scav boss spawn, albeit rarely, and also spawns regular scavs, like checkpoint and gas station. Beyond that, there’s scattered loot around the map in different places, but usually not enough to warrant going out of your way for. There’s also scav caches, mostly around the middle road outside construction and around the boiler area. The scav boss for customs is 'Reshala.’ He has 5 guards that have above-average gear and can be tough to deal with solo. The guards tend to be more aggressive than normal scavs, so they can be a lot to handle but are vulnerable to fragmentation grenades or flashbangs due to their close proximity to one another. Reshala himself has a good chance to have one or more bitcoin in his pockets, as well as his unique Golden TT, which is required for a Jaegar quest and used in conjunction with other Golden TT's to purchase a Tactec, good plate carrier. Reshala may spawn either Dorms (either bldg), New Gas Station, or rarely the tower north of the gas station. Scav bosses are dangerous enemies with escorts that have above-average loot (sometimes great loot) and are hostile to everyone, Including player scavs. Scav guards will approach a player scav and basically tell them to leave the area, and if they walk closer towards the scav boss they turn hostile. The ‘official’ spawn rate for Reshala is 35%.
Woods Map with Exfil A very large map that is mostly just a large forest, with the occasional bunker, and the Lumber Mill in the center. The Lumber Mill is the primary point of interest, as it contains a couple quest locations and is the primary location to farm Scavs, as Scavs killed on woods are a good source of end-game keys that are hard to find. Since the map is so large and open, sniper rifles with scopes usually reign king here. You will see a lot of players with Mosin rifles as they are a cheap way to train the Sniper skill (for a quest later on) and are capable of killing geared players and scavs alike. Overall, not usually very populated. An early quest from Prapor sends you here to kill a number of Scavs. A good map to learn the game, as although the loot is not fantastic, you can get experience with how the game runs and operates while fighting AI and possibly getting lucky with a key find off a scav. As of .12, Woods now houses a Scav boss that acts as a Sniper scav. He is incredibly dangerous and usually carries a tricked-out SVDS. The 7.62x54 caliber is not to be underestimated. That caliber can and will wreck your shit through what most players are capable of wearing, especially early on in a wipe. He may also carry an AK-105, so he's going to be dangerous at both short and long ranges. He has two guards, and he typically patrols the area around the Sawmill, and carries a key to a cache nearby full of goodies. His key is part of a quest for Jaegar. Woods also has two bunkers, one of them being an extract and requiring a key. Both bunkers have some moderate loot in them, thus worth visiting, though not necessarily worth going out of your way for them. Several quests occur around the sawmill area, which contains a good couple keys that can spawn.
Shoreline Map, with Loot, Exfil, etc A very large map, notorious for its FPS hit. Generally speaking, one of the better maps for loot. The primary point of interest is the Resort, but scavs spawn there, and is primarily occupied by hatchlings (players only with hatchet, ie melee weapon) and geared players. Resort has great loot, but requires keys to access most of it. A great map to learn though from new players as the outskirts still contains plenty of loot and combat opportunities with AI scavs. You can hit Villa, Scav Island, Weather station, Docks, etc and come out with a backpack full of valuable gear fairly easily. The Village (Not to be confused with villa) contains a lot of toolboxes which can contain lots of parts used to upgrade your Hideout. Location of many quests, including a large quest chain where players are required to kill many, many, scavs on Shoreline. For this and other reasons, probably the best map for new players to learn the game with. A good loot route is to hit the village (caches in it), scav island (2 med bags, 2 toolboxes, 2 weapon boxes, 1 cache), burning gas station (weapon boxes and a safe), pier (potential extract, 2 pcs 2 safes and lots of filing cabinets), and weather station. Scavs may spawn around these areas, but most players just head straight for resort anyway, so you are much less likely to encounter them, especially if you avoid Mylta power (most players hit it on the way to or leaving from the resort). Excellent route as a player scav as well.
Detailed map Great, great loot area, but very complex map. Old computers might face unique struggles with this map. Features a mostly-binary exfil system like Shoreline, but.. kinda worse. Exfil camping is fairly common on this map, but usually avoidable. Huge map with multiple floors and many many different stores. Communication with teammates is a challenge on this map, but the map is also fantastically detailed. This map features a lot of loot that depends on the kind of store you're in. It's a great place to farm rare barter materials which are valuable to sell on the Flea market or to use for quests or for hideout upgrades. An early quest (from Ragman) sends you here to kill a large amount of Scavs. I'd recommend getting Ragman to level 2 and accepting his quest asap when going to Interchange, as getting this quest done can take a while as it is and you want all scav kills to count towards progress. Both the tech stores (Techlight, Techxo, Rasmussen) and department stores (Groshan, Idea, OLI) are the primary places to hit. There’s also Kiba (weapons store) as well as Emercom and Mantis. Players have different strategies, but this map is unique in the sense that it really rewards exploring. Most stores will have things you can grab that are worth quite a bit but are often overlooked. Very popular place to go in as a Player Scav.
Brand new map, chock full of loot. Has more complex extracts than other maps, save for Labs. Excellent place to farm rare barter items, computer parts, and especially military hardware. PMCs have limited extracts, most being conditional, and the ones that aren’t require activation of ‘power’ to turn on the extract, which alerts the map the extract has been opened and can spawn Raiders (more on them below.) Additionally, has a scav boss by the name of Glukhar, who has multiple heavily armed guards. He has multiple spawn locations and can arrive with the train.
DISCLAIMER: Labs, like much of Tarkov, is under constant development, so issues may be fixed or created without warning. Always check patch notes!
Labs is a very complex map compared to the rest of Tarkov. There is a great deal more exfiltrations but many of them have requirements or a sequence of events needed to be able to extract from them. It is recommended to read the Tarkov Wiki on Labs before raiding there.
LABS IS NOT LIKE OTHER MAPS. READ THIS SECTION CAREFULLY.
Labs is a lucrative end-game raid location, comparable to 'dungeons' in other games. They are populated by tougher enemies that give greater rewards. In order to go to labs, you need to acquire a keycard, this functions like mechanical keys but instead of opening a door, they unlock your ability to select Labs for a raid. They may be found in-raid in various locations, most notably in scavs backpacks, pockets, and in filing cabinets. They may be purchased from Therapist at LL4 for 189K Roubles. Labs are populated by a unique kind of AI enemy, Raiders.
Raiders are the Labs form of Scavs, or AI enemies. However, unlike other maps, they cannot contain player Scavs. Raiders have a much tougher than your average scav, they are capable of advanced tactics (such as flanking) and throw grenades and use other consumables as a player would. Once 'locked' onto you, they are typically capable of killing you very quickly, even if you are wearing high-end armor. In Tarkov, Raiders act like the avatars of Death. They are clad in USEC and BEAR equipment, as they are effectively AI PMCs. Many changes have been made to labs and specifically how Raider AI works and to prevent exploits to easily farm them as well as bugs where they could be deadlier than intended. A general rule of thumb is not to fight Raiders directly. They can and WILL kill you. Raiders can spawn with 7N9, or 'big boy' ammo. This ammunition type is incredibly lethal to players, even those wearing the toughest armor. If you get shot in the head, doesn't matter what kind of helmet, face shield, killa helmet, etc you are wearing, you will almost certainly die. Because Raiders are controlled by AI, they have zero ping. They may also end to immediately respond as if you were aggressive even if they did not originally know you were there - ESP Raiders effectively will prone and return fire even as you ADS and put them in your sights. This is why engaging a Raider must be done very, very carefully. There are a few strategies that you may employ, most commonly some form of baiting them towards an area and then killing them when they arrive. Players may accomplish this by generating noise - gunfire, melee weapon hitting walls, crates, etc, player deaths, players Mumbling (F1 by default) can all attract Raiders to investigate your area. Due to the high power of Raiders, players often go in with minimal loadouts and seek to avoid conflict with other players, especially geared ones. Most players avoid PvP in Labs, though a good portion of the playerbase thoroughly enjoys hunting down poorly-geared players after they kill a few Raiders for them. As such, players will lay prone in a hallway, or crouch in a room, and attract Raiders to enter their domicile by opening the door, and immediately headshotting them. Few Raiders actually wear helmets (though some do) so most players specialize in 'flesh ammo' or, ammunition that foregoes armor penetration in favor of raw damage in order to kill Raiders more reliably, because Raiders have slightly higher head health than PMCs do. Raiders spawn with a great variety of equipment, weapons, armor, and materials such as medication or hideout parts. They tend to have chest armor and may have different helmets. Their pockets can contain Labs keycards, morphine, Ifaks, cash, and other items. They're always worth checking. Raiders are a good source of grenades, they will often have F-1's and Zarya's in their rig or pockets that you can use to fight off players and Raiders alike. Recently, changes have been made to Labs to make them less profitable so that other maps are more appealing. The cost and rarity of keycards increased, as well as reducing the frequency that raiders spawn, so that they come in more infrequent groups but also tighter in formation, while also lowering the overall output of individual Raiders, so that they are less likely to have a bunch of extra materials, such as grenades and other items.
Experience Farming on Labs
Labs is one of the best places to farm experience in the entire game. Killing a Raider with a headshot awards 1100 Experience. This does not include any looting, inspection (searching bodies), examine, streak, or other experience. Killing a large sequence of Raiders gives additional bonus experience in the form of Streak rewards, usually 100 bonus exp per additional kill. Surviving the raid multiplies all of these sources of experience by 1.5x
Changes coming to Labs
Disclaimer: I am not a BSG developer or employee. This is what I have seen on this subreddit and heard elsewhere. Some might be purely rumor, but other points are confirmed by Nikita Labs is undergoing constant changes. Nikita and BSG take feedback seriously, and always consider what the players are telling them. It known that Labs will eventually be accessed via the Streets of Tarkov map, and will require you to enter that map, make it to the labs entrance, and then extract from Labs to return to Streets of Tarkov and exfil from there as well. This will likely add an additional layer of risk to being ambushed for your goodies along your way out, as well as punishing damage taken in labs more severely. Additionally, keycards will have a limited number of uses, and may open more than one room. The full extent of the changes coming is not known. Remember, you can load a map in OFFLINE mode to practice against bots or to learn the map without fear of losing gear.
Tarkov's Health System
Tarkov Wiki Article Tarkov has a very advanced health system, and while it might seem overwhelming at first, you'll get the hang of it rather quickly. It features a very wide variety of effects and injury, including hydration, energy, blood pressure, blood loss, fractures, contusion, intoxication, exhaustion, tremors and more. Not all of the Health System is implemented yet. Expect changes! Your character (PMC, or otherwise) has a combined Health of 435. Each of his limbs have separate health. Taking damage to a limb that reduces it to 0 'blacks' that limb. Blacked limbs are a problem. They greatly impair the activities your PMC performs, and taking damage in a blacked limb amplifies the damage by a multiplier and spreads that damage among your other non-black limbs equally. You cannot heal a blacked limb without the use of a Surgical Kit. Notes:Bloodloss applies damage to the affected limb and can be spread like other damage to a blacked limb. Treat immediately. Also causes significant dehydration! Bloodloss also helps level your Vitality skill, which in turn gives you experience towards your Health skill, which is necessary to reach level 2 of in order to improve your hideout. Losing a limb applies additional effects. Fractures also apply these effects but not the damage amplification (Except for damage if running on fractured leg.) Fractures require specialized medical kits to heal. Dehydration is what happens when your Hydration level reaches 0. You can view your Hydration level in your gear page, at the bottom left. Becoming dehydrated is extremely bad. You take constant damage. Taking dehydration damage can kill you if you have a black chest or head. Restoring hydration helps train Metabolism, which improves positive effects from food and drink. Head/Chest: Bullet damage resulting in losing your head or chest is instant death. Note: Bloodloss resulting in your Head/Chest being black does not result in death, but any damage to them beyond that point will! A back chest will causes you to cough (much like your stomach!) Painkillers: Prevents coughing that comes from your chest. Doesn't help otherwise. Stomach: Massively increased rate of dehydration and energy loss. You must find liquids or exit the Raid soon. Additionally, your PMC will cough sputter loudly, attracting attention. A black stomach multiplies damage taken by 1.5 and redistributes that damage across your entire health pool. Painkillers: Significantly reduces the frequency and volume of the coughs. Arms: Makes activities like searching, reloading, etc, take additional time, as well as adding a sway, reducing accuracy. Arms have a .7x damage multiplier. Painkillers: Reduces sway, removes debuff Pain. Legs: Blacked legs cause your PMC to stumble and be unable to run. Blacked legs have a 1x damage multiplier. Painkillers: Allows you to walk at full speed and to run. WARNING: Running while your legs are blacked or fractured WILL DAMAGE YOU.
Tarkov features many health items - 'Aid' items, which can be used to restore your characters health and to fix ailments or injuries he receives as the result of combat or mishaps. The two most important health conditions to consider are bloodloss and fractures, which have both been covered above. Some food items may have ancillary effects, such as losing hydration. Since in the current patch the only ailments to worry about are bleeding and fractures, it changes which health items are most necessary. We'll go over them below.
Medical Items on Wiki AI-2 medkit The newb's medical kit. You receive several of these when you start Tarkov - they'll already be in your stash. Available from Level I Therapist, they are cheap and effective way of healing early in the game. They will not stop bloodloss. Because of this, you also need to bring bandages or a higher-grade medical kit. Affectionately called 'little cheeses' by the Tarkov community. Using it takes 2 seconds, and because of how cheap it is, it's often brought in by higher level players to supplement their healing without draining their main kit (which is capable of healing bloodloss or sometimes fractures). Due to its short use time, it's often very useful during combat as you can take cover and quickly recover damage taken to a vital limb. They're also useful as you can buy them from Therapist to heal yourself if you died in a raid. Bandages The newb's bloodloss solution. Available from Therapist at Level I. A better version, the Army Bandage is available at Level II, after a quest. Mostly obsolete after unlocking the Car Medical kit, but some players value them due to the Car's overall low health pool. Activating takes 4 seconds, and removes bloodloss to one limb. Splint The newb's solution to fractures. Cheap, takes five seconds to use, and takes up 1 slot. Fractures are much more common this patch, due to them being added back in the game from standard bullet wounds, not just drops. Available from Therapist at Level I, no quest needed. Can be used to craft a Salewa. Alu Splint More advanced form of the normal split. Works the same, but has up to 5 uses. Recommended to carry in your container if possible, due to frequency of fractures from gunfire. CMS (Compact Medical Surgery) Kit New medical item added in .12, fantastic item. Allows you to perform field surgery, removing the black limb state and allowing you to heal it beyond 0 hp. Takes 16 seconds to use, and cannot be cancelled so make sure you are safe if you are using it! Will reduce the maximum health of the limb it's used on by 40-55%, but will effectively remove all negative effects incurred by having a black limb. Highly recommended to carry in your container for emergencies. Can be bartered from Jaeger LL1, and purchased for roubles LL2. Surv12 field surgical kit Same as the compact surgical kit, but takes 4 seconds longer, and the health penalty is reduces to 10-20% max health of the limb. Considering this kit is 1x3, taking up a huge amount of space, it's probably not worth using. It's just too large. Better this than nothing, though. Car Medical Kit The newb's first real medical solution. Available LL1 as a barter (2 Duct Tape) and available for Roubles after completing Therapist's second quest. Has a larger health pool than AI-2's (220, vs AI-2's 100), and removes bloodloss. Takes up a 1x2 slot, so requires to be placed in a tactical rig in order to be used effectively. Cheap and fairly efficient, takes a standard 4 seconds to use. Rendered effectively obsolete when the Salewa is unlocked. Often kept in a player's secure container as a backup health pool, before IFAKs are unlocked. Salewa Good medkit for use in mid and end-game. Contains 400 total health and can remove bloodloss. More rouble efficient form of a healing due to its high health pool, costs 13k roubles. Same size as the Car medical kit, so requires a tactical rig to use effectively. Because Tarkov does not currently have effects like Toxication in the game at the moment, this kit is favored by most players who go into a raid with at least a moderate level of gear. With a high health pool and relatively low cost, it's also a more efficient way of healing damage sustained while in raids. Unlocked at Therapist Level II after completing a level 10 Prapor quest, Postman Pat Part II. Required as part of Therapist's first quest, Shortage. This makes Salewas very valuable early on in a wipe as it gatekeeps the rest of Therapist's quests, most of which occur on Customs early on. Can be crafted in your meds station with a painkiller, splint, and bandage. IFAK Fantastic medical kit, and is the one preferred by most players. Features 300 health and the ability to remove bloodloss and a host of other negative effects that are not yet implemented into the game. It does not, however, remove fractures. Taking up only a single slot, it is favored by players in all stages of gear, and it is recommend to carry one in your Secure Container in case of emergencies. Is available at Therapist Level II for a barter (Sugar + Sodium), and may be purchased for Roubles at Level III after completing Healthcare Privacy, Part I. It is a fairly expensive kit, but due to its durability, its small size, and ability to remove bloodloss, it is a very common medical item used by players of all levels. Can be crafted in Lvl 2 medstation. Grizzly The 'big daddy' medical kit, boasting an impressive total health resource of 1800. It is also a very large kit, taking up 4 slots (2x2) - in order to be able to use this quickly, it would require specialized tactical rigs that feature a 2x2 slot. It removes all negative effects (some costing HP resource), including fractures. Used by highly-geared players who intend on staying in raids for an extended period of time, or by players with additional Secure Container space available in case of emergencies. It is available for barter at Therapist Level II, and purchase at Therapist Level 4. Due to its price point from Therapist at just under 23k Roubles and its healthpool of 1800, it is by far the most efficient method of healing from raid damage, at a 1.3 roubles per health, dramatically lower than other options available. Can be crafted in Lvl 3 medstation.
Using any of these items results in your character being 'On Painkillers' which allows you to sprint on fractured and blacked legs, as well as reducing effects of fractures and blacked limbs, and removing the debuff Pain. Essentially, the only difference between most of these items are the speed of use, price, availability, and duration of the effect. Note that the Hideout has changed how some of these items are used, and because Tarkov is under constant development, it is very likely that these materials may be used to create higher-grade medkits or to upgrade your medstation. That being the case, it's best to hoard the unknown items for now as efficiently as possible until you know you don't need them. Analgin Painkillers The holy grail of pain medication. "Painkillers" have 4 total uses. The total duration is greater than Morphine and less risk of waste. Takes a short time to use, and is available from Therapist Level 1 for both barter and Roubles. Makes a loud, distinctive gulping noise. Can be used to craft Salewa kits. Morphine Quick application of painkillers. Favored by some highly geared players as it has greater usability in combat then it's typical counterpart, Painkillers. Has a longer duration, but only one use. It is required for a fairly early Therapist (and a late Peacekeeper) Quest, so it is recommend to hoard 10 of them, then sell the rest unless you intend on using them. They are worth a good amount to Therapist and take up little space so they are a valuable loot item. Available from Therapist for Roubles at Level 4, after completing Healthcare Privacy, Part 3. Augmentin Basically a cheaper Morphine. One use, 205s. Not recommended over Painkillers due to its cost. No current barter for this item, so usually it's just a fairly expensive, small loot item. Most likely a component of a medstation manufacturing process or upgrade. Keep it. Ibuprofen Powerful painkiller. Lasts 500 seconds and has 12 uses. This item is recommended as your long-term solution for painkillers. While it is valuable because it's used to trade for THICC items case, it's the cheapest component and is very useful as a painkiller. It has a long duration and a large amount of uses, so keep it in your container for use as a painkiller if your primary painkillers wear off. Don't use it completely up, though. Keep the 1/12 bottles for the trade. Vaseline Powerful medical item. Cannot be purchased from dealers. Has a maximum of 10 uses. Removes Pain, applies Painkillers for 500 seconds (8.3 minutes). Useful to keep in your container as an alternative to Painkillers, though it takes 6 seconds to use, which is longer than other painkillers. Used as part of a barter trade for the Medcase. Golden Star Balm Fairly useful medical item. It can remove Pain and Contusion (not a big deal of a debuff, goes away on its own shortly) and provides a small bonus to hydration and energy. It also removes toxication and Radiation exposure, both of which are not yet implemented into the game. Like Vaseline, has a maximum of 10 uses. Painkiller effect lasts for 10 minutes, and takes 7 seconds to apply. Recommended to take only if you are going on large maps and you have extra room in your container. Can be used with Ibuprofen and 5x Med parts to craft 7 Propital.
Currently the 500 MCO tier is sort of the sweet spot for most users where a lot of valuable perks kick in. When I first purchased MCO it was under $3 USD, so going straight to the 500 tier was an obvious choice. I was planning to put some Stablecoins and Bitcoin into earn, so the added 2% bonus in-kind in earn, plus the 3% card cashbacks and Netflix reimbursement made the choice economically beneficial quite quickly. Less than a year later the benefits have provided me a larger return on investment than if I had done otherwise. I have been eyeing the upgrade to the 5000 tier, but I wanted to do an analysis of what sort of upgrade strategy makes sense to optimize ROI weighted against risks and if I'm even the right candidate for such an investment. With the price of MCO being higher, it's not such a clear decision. I will outline my thought process below. Assumptions - These are the assumptions that I am working with for my analysis. Working with a different set of assumptions will affect the decision making process differently for different people.
Decision making process involves only MCO, Stablecoins (Fiat), and Bitcoin
Bitcoin being held was bought at a low price and converting to MCO will cause a taxable event
There is no monetary benefit to Prime because I've been grandfathered into prime from an old family members account
There is no monetary benefit to Expedia because I do all my travel spending on my Chase Sapphire Reserve that offers robust travel benefits and protections.
The monetary benefit to CDC Private is not clear at the time
Time frame of one year
Interest rates on the platform do not drastically change over the next year
MCO and BTC change fluctuate roughly in lockstep
Dollar figures below are arbitrary for example purposes only
Based on the above assumptions we can now look at different upgrade pathways and see which options make the most sense. This thought process is a place to start and can be adjusted to each person's individual case.
Stablecoin (Fiat) to MCO pathway
At today's price of ~$4.85 USD at time of writing, it would cost $21,825 USD to upgrade directly into the 5000 tier by buying 4500 additional MCO. This gives additional benefits of 2% in earn, 1% on card, and 8% vs 6% on staked MCO. The variables we need to look at to find out if this makes sense over the next year are: assets in Earn and annual card spend. The opportunity cost of putting the money into MCO is a 4% yield on $21,825 (12% in Earn minus 8% staked in MCO) minus a 2% yield on 500 MCO, or roughly $824.50. We also open ourselves up to exchange rate volatility, there is a very real, non-0% chance that the crypto market collapses, or that MCO itself collapses in value. There is also a chance it will go way up. If you are looking to hold the MCO, or crypto in general, for longer periods of time, we need to sort of normalize the projected trend to figure out ROI. That means ignoring big jumps and drops, or retroactively thinking you could have made or lost money by trading in and out… that falls under trading and speculation. In general, most of us think the crypto market is going up, but by how much and how fast are variables that need to be considered in how exposed to crypto you want to be In order to make this pathway a positive ROI, we need to make an additional $824.50 through the added benefits in Earn and card spending over the course of one year. What does that look like?
Assets in Earn*0.02 + Card spend*0.01>824.50
Card spend: $1,000; Earn: $40,725
Card spend: $5,000; Earn: $38,725
Card spend: $10,000; Earn: $36,225
If you don't have roughly $35-40k in Earn, upgrading to 5000 Tier makes very little sense IMO. Full Account Examples (Assuming today's crypto prices):
Case 1 - 500 MCO staked; $100,000 Stablecoins in Earn; $100,000 Bitcoin in earn; $3000 card spend
500 * $4.85 * 0.06 = $145.50
$100,000 * 0.12 = $12,000
$100,000 * 0.055 = $5,500
$3,000 * 0.03 = $90
Total annual rewards: $17,735.50
Case 2 - 5000 MCO staked; $80,000 Stablecoins; $100,000 Bitcoin in Earn; $3000 card spend
5000 * $4.85 *0.08 = $1,940
$80,000 * 0.14 = $11,200
$100,000 * 0.075 = $7,500
$3,000 * 0.04 = $120
Total annual rewards: $20,760
Case 1 and 2 are very similar in total assets, but case 2 provides the better return after one year ($20,760 - $17,735.50 = $3,024.50) at the cost of being more exposed to crypto.
Bitcoin to MCO pathway via Drip
Another option to consider is upgrading to the 5000 tier via Bitcoin. I mention "Drip" in the header because I imagine most people able to do a lump sum conversion would encounter a taxable event and would be less inclined to go that route. Utilizing a drip format will upgrade on a longer time scale, but result in negligible taxable gain. It also keeps crypto exposure at roughly the same level throughout the process. The benefits from going to MCO from BTC is a higher interest rate for MCO being staked at 6% vs BTC in Earn at 5.5%; I also assume CDC will be able to keep the 6% on MCO longer than they can keep the rate high on BTC. The drawbacks are less liquidity on MCO, potentially more volatility, and potential loss of value relative to BTC in Satoshis (we'll ignore the last point since we are assuming a similar sat ratio over time). Another thing to mention, if we want to upgrade over the course of one year, BTC holdings need to be pretty sizable at $400,000 That's a little unreasonable for most people, so let's assume a smaller holding of $100,000 btc like the two cases above. This will take three years to accomplish and the equation gets a bit more complicated in this situation.
500 MCO staked at 6%
$100,000 BTC in Earn at 5.5%
Proceeds from both go immediately into MCO 3 Month Earn at 8%
Basically if you take the above situation and plug it into a compound interest calculator, compounding quarterly, it takes almost 3 years exactly to drip your way into the 5000 tier. We can mostly ignore any change in crypto USD value as long as the MCO/BTC ratio stays similar. If you definitely want to go to the 5000 tier, the question becomes purchase lump sum via Fiat or drip via crypto. The opportunity cost of dripping is the lost 2% gain in earn over the course of 3 years (which as you'll see below, could be significant if the market jumps quickly at which point purchasing via Fiat becomes prohibitively expensive). But the benefit is that you maintain your current crypto exposure in the case of a major bear market where you could potentially purchase via Fiat at a much lower price.
I think it's important to think about an exit strategy. In my opinion, upgrading to the 5000 tier only really makes sense if you are having a lot of assets in Earn. The added 1% on card spend and other perks pales in comparison to the added 2% on Earn with a large amount of assets. It's also my opinion that MCO should only be a small portion of a crypto portfolio. Regardless, if MCO is your main holding you are betting on the crypto market going up, because the added 5000 tier benefits won't comparatively amount to much over a year anyway. If crypto prices stay the same the benefits to holding MCO stay flat, but as crypto prices rise, the incentives change. Imagine we go on a huge bull run and the market goes up 20x. I bet a lot of people will want to rebalance and cash in some of that profit. It's quite possible holding 5000 MCO becomes too big of a risk for the benefits received. What's nice is that CDC seems to have thought about the optimal profile for people to get to the 5000 tier level...like I stated above, people with significant assets in Earn. Imagine the person in Case 2 above in an environment where the crypto market shoots up 20x.
5000 MCO = $500,000
$80,000 Stablecoins = $80,000
$100,000 BTC = $2,000,000
In this situation, it makes sense to rebalance your portfolio and take some earnings off the table. However, it actually makes a lot of sense to keep the 5000 MCO staked and rebalance away from BTC into Stablecoins. Look at the yearly earnings of different options below:
Leave as is: $191,200
Rebalance $450,000 from BTC to Stablecoins maintaining 5000 MCO tier: $220,450
Rebalance $450,000 away from MCO to Stablecoins dropping to the 500 MCO tier: $176,600
As you can see, losing the bonus 2% in earn cuts your profit over the course of a year. CDC was quite thoughtful in changing the award structure for the added 2% in Earn. It should keep early adopters from leaving if the market goes up, and should actually attract newly minted crypto whales as they rebalance out of other cryptos. This should keep the MCO price strong for a long time and give confidence to people investing in MCO.
I think upgrading to the 5000 tier can make a lot of sense for certain people. But after reaching the 5000 tier I would probably immediately cash out all rewarded MCO to Stablecoins to compound at a higher interest rate and just maintain the 5000 level. Unless there are some dramatic new rewards for the 50,000 level I don't see the value proposition to go for Black. Perhaps an additional 2% in Earn, but that is probably not sustainable to the company. Let me know what you think, or if I made any mistakes. Edit: Changed numbers to reflect 8% earned on staked MCO at the 5000 Tier level. This makes the upgrade more compelling.
What is the economic potential of this new means of exchange? This paper analyses the underlying economics of how Bitcoin achieves payment finality, ie how it seeks to make a payment unalterable once included in the blockchain, so that it can be considered as irrevocable. It then discusses the future of this type of cryptocurrency in general. The focus lies on the technical elements underlying Bitcoin and its blockchain, as devised by Nakamoto (2008). But its conclusions extend to cryptocurrencies that are slightly modified clones of Bitcoin (eg Bitcoin Cash, Bitcoin SV, or Litecoin) or digital tokens that, so far at least, share the crucial reliance on proof-of-work to underpin their payment finality (eg Ethereum or Monero).
I have a major criticism of the paper: One simply cannot extend the conclusions of this paper from Bitcoin to Monero because Monero has a tail or minimum emission and Bitcoin does not. This is made abundantly clear from his article.
Bitcoin will either become more centralized---, or its liquidity could dry up, or its supply needs to grow beyond the originally envisioned 21 million coins.
The author is either unaware of the tail emission in Monero or has chosen to ignore it. Of course Monero does stand in the way of
The overall conclusion from this paper is that, at least judging based on current technologies, in the digital age too, good money is likely to remain a social construct rather than a purely technological one: the efficiency of decentralised exchange via proof-of-work exclusively is much lower than would appear at first sight, and alternative technologies still need to demonstrate that they can function without institutional backing.
In other words Monero stands in the way of the conclusion that we still need the banks. Now before simply dismissing this as a hit piece on Bitcoin and POW cryptocurrency in general as some of the comments in bitcoin imply https://np.reddit.com/Bitcoin/comments/gh1l5g/the_halving_exposes_bitcoin_to_51_attacks_heres/ Raphael Auer, actually makes some very valid points in his analysis of the cost vs reward of a 51% attack on Bitcoin or say Bitcoin Cash as the block reward fall to zero. In fact it actually makes a very strong case for Monero with its tail emission and adaptive blocksize, by pointing out the weaknesses in the Bitcoin "fee market" to replace the bock reward.
Round up of Cryptocurrency News #2 Week 13/07 - 19/07
So much has happened this week! We saw a capitulation point of bitcoin before bears took over and we saw the selling pressure push Bitcoin down toward the $9000USD mark then move back up above $9100USD So far it has been a stable hold, however we may see some more action within the coming weeks.
Widespread scamming within the Twitter-sphere, Youtube and other platforms as Bitcoin and other cryptocurrencies may seem like fair game. Cryptocurrencies providing big payouts for scammers without the ability for reversals of accounts. Remember if something seems too good to be true, do some research or just plain do not respond/believe it. Stay safe and careful with your funds!
On the brightside, there has been even more adoption of cryptocurrencies as rumours of Paypal utilising cryptocurrency has been confirmed as they are developing crypto capabilities. In addition to this we received exciting news at the start of this week about Binance partnering with Swipe (SXP) and offering a debit card to spend BNB, SXP, BTC and BUSD. ( I will be keeping a swift eye on BNB and Swipe as its utilisation as tokens has just increased 43 fold).
Positive news for the Bitcoin network as its hashrate reaches all time high which helps to secure the network further even though mining profits have dropped by 50% from the recent halving. If you didn't know already the last Bitcoin will be expected to be mined in 2140 with its difficulty ever increasing and each time securing the network further. Processing units will have to become faster, stronger and most importantly more cost effective to continue to entice miners for the block rewards and further renewable energy practices.
Furthermore we can see Central banks and countries discussing and developing Central Bank Digital Currencies (CBDC). Read more about it here https://www.investopedia.com/terms/c/central-bank-digital-currency-cbdc.asp and check out some of the developments in the world above. This shows the popularity and strong nature of cryptocurrencies. As the saying goes "If you cant beat them, JOIN them".
Overall, very solid week full of adoption, animation and anticipation. Another post next week for a weekly round up! See you then but in the mean time join us at our Gravychain Discord. - DISCORD LINK: https://discord.gg/zxXXyuJ 🍕 Bring some virtual pizza to share 🍕 Come have a chat, stimulate a discussion, ask a question or share some knowledge. We are all friendly crypto enthusiasts up for a chat, supportive and want to help each other with knowledge and investments! Big thanks to our Telegram and My Crypto HQ for the constant news updates! - The Gravychain Collective: https://t.me/gravychain - My Crypto HQ: https://t.me/My_Crypto_HQ Important/Notable/Highlights:
I wish I was reborn as a girl with all the knowledge I have now. I’d invest in Google, Facebook, Bitcoin, and cute dresses. I could get a date, a bf, or just a hook up anytime I want! All I have to do is be constantly underestimated and objectified and likely raped at least once in my life and have the government try to regulate my reproductive health. But... hey... I’d be a soothsayer, and cute. I'd have immense social capital just for being a woman, that I'd KNOW I have and therefore I wouldn't take it for granted and I could use it to my advantage - because I was a guy and know what its like to feel expendable. I'd never have to ask anybody out on a date ever again and instead just do the picking and judging until I find a great guy with lots of money that I have genuine feelings for. Then I'll laugh at my male friends' Tinder profiles because I don't have to deal with that shit anymore, but if I wanted to, my inbox could be 999+ matches in a day if I wanted to. I can now afford to have higher standards because I have actual options instead of choosing between 5 matches that'll all ghost. So then I start saying terrible things like, "All men are pigs" and "Men are so simple and easy" and "I'm a queen". Eventually, I'll forget my past life as a male and transform into a flirty tease that acts offended when called out for exploiting my looks for personal gain, rather than my intellect. And I can say stuff like, "The patriarchy can't hold us down! Fuck men!" and everybody will cheer and send their likes and comments on my IG profile for being so strong and courageous and empowering others. Then I'll learn to hate myself because societal norms of acceptable/rewarded behaviors has eventually incentivized me to become the very thing I disliked about women when I was a man - a flirty tease and gendered asshole that talks as if all women are good and all men are bad. And I'll say stuff like, "Why can't men just... ...its so easy for them." I'll actively promote content on my IG about body positivism and empowerment but mix up sexual promiscuity for empowerment because that's what society has taught me I'm valuable for, to use my body to get eyes to sell ads to. I grow disgusted with myself and my life choices. Even on my best days, I'll have ingrained in me deep mistrust and automatically assume men to be guilty of something, unless they're cute, except if their creepiness outweighs their cuteness, but the cuter they are, the more they can get away with. So, I get sick of it and I get gender reassignment surgery and treatments until I become a FtM transgender. Because the monkeypaw I used to be reborn the first time is now gone. Also, I own Google and Facebook now. Then I'll host Ted Talks about the emotional abuse and suffering of men but people won't really pay attention to it because the hot topic is women, always has been and will be. But eventually some bigot murders me in cold blood while I'm walking late at night because that's what statistically happens to a lot of trans people. In all seriousness, I know being a woman isn't all rainbows and butterflies but I'd take that option in a heartbeat. Being a man is horrendously awful, difficult, lonely and degrading, and not enough people talk about it for fear of being labeled a misogynist or worse... a men's rights activist. It sorta reminds me of my vastly different experiences on Tinder vs. Grindr. As a good looking bi guy chasing after straight women, you feel like worthless scum, ghosted, 1 in a trillion, expendable. Female friends offer advice that never works because they have the luxury of doing whatever on Tindr and it just works. As a good looking bi guy on Grindr though, I feel like I'm prom King and I have my pick of the bunch for whatever I'm in the mood for and people just listen to what I have to say and act like its the most interesting thing they've heard in their entire lives. I know women have lots of obstacles in life and etc. but damn, it would feel nice to feel like I have inherent value and to have people want to take care of me. Cis-straight women have no idea how good they have it and have been taught to believe that they're always the victim and everything is terrible for them and everything is fine for men. But the reality is that everyone has their own sets of problems and some groups have less problems than others - white women especially, why do you think there are so many entitled white Karens? They live life having everything catered to them. Though, I'm not saying that being sheltered and cared for is a fulfilling and satisfying way to live (probably why so many Karens are so bitter and petty, because maybe they know deep down that they're just trophy wives, I can't imagine somebody marrying a Karen for their personality). Then Karens' looks fade over time and the husband starts cheating with someone from the office that's uncomfortably younger. I grew up with basically only female friends. The shit women talk about about in private (with me being like "one of the girls")... sometimes its just so disgusting and vile. Infinitely worse than "locker room talk", neither of which I condone. In my experience, boy's locker room talk is like... "Damn, she was hot. I wanna smack that ass. Yeah. I'd totally give her Dirty Sanchez" vs. a female friend-group virtual hangout: "Yeah I liked him, but he's kinda poor and I want a guy with money. Plus, his dick was big but it was, like, weird. I dunno. It was shaped all funny and gross. I'd take a smaller dick for a richer dude. When he fingered me, it didn't feel good. Like.. it felt like he was a kid digging through his Halloween candy bag, looking for a Reese Cup" See the difference? "Locker room talk" is about posturing and preening. The female equivalent of "locker room talk" doesn't even have a negative label, but in them I've noticed that its not about posturing and preening to members of the same sex in a misguided attempt to show masculinity. Instead, its about judging and evaluating the worth of a person and making the person's identity a joke to be laughed at. Reminds me of the constant number of posts about couples arguing and the woman always goes and aims right for that thing that she knows cuts deepest into their bf's identity - like, "Maybe that's why your father never calls you". Like, why do women do that? Why do they always have to immediately go to the nuclear option and also bring stuff up from the past? And if you're winning the argument, they just start crying or stop listening to all reason and present an ultimatum? Its almost as if women in general are used to getting their way most of the time, and still act as if the world is out the get them. Its almost as if women in general have more freedom to say and do whatever they want without fear of repercussions, like when a tiny white drunk white girl tries to slap and claw the crap out of giant guy because she knows the punishment for him laying hands on her are infinitely worse, while hers are basically nonexistent. Abuse comes in many forms and imo women are the primary perpetrators of emotional abuse, going back to the age-old teen meme, "She asked me to change for her. Then left when she said she no longer recognized me". Women are demanding little monsters that stay that way because there's always men willing to enable and encourage that behavior. For them, its normal and they don't see the cognitive dissonance, which leads to things like the #MeToo movement losing steam when a bunch of male victim came forward and women treated them exactly like how female victims were treated when silenced. Thus exposing that many women in the #MeToo movement aren't actually against rape and rape culture, they're against female rape. Now, we're hearing "Let everyone's case be heard and evaluated" instead of "Believe all women". At this point, can't we just all admit that this whole women's empowerment thing has basically been sold to corporations to promote products; and to politicians to get votes; and to individuals so they can feel a sense of moral superiority without actually doing anything? I'm just saying, I hate the gendered bias that women are good/valuable and men are bad/worthless. We can both be and act equally awfully. But given the gendered bias that exists and likely will never go away, I'd gladly take being a woman if that were ever an option. You have inherent value as a woman. Sure, everyone and everything will try to take advantage of that, but you'll have inherent value. Think about every single example of a woman who decided to venture in the male world, whether its a social experiment using Tindr as a guy, or a feminist activist disguising as a man for 18 months. A man can never know what its like to be a woman and vice versa, but its stupid how much women seem to assume that men's lives are easy, and its disheartening to me to see so many women being blown away to learn how difficult it can be to be a man. I'm just saying... gender politics isn't as simple as man bad, woman good. But that's basically what everyone is promoting, whether they know it or not.
Cryptocurrency exchanges process over $20 billion in trade volume per day. Most of the transactions are going through centralized exchanges, where the users need to fully trust them for managing their assests and transactions. However, the risk of trusting these centralized exchanges has also been seen. For example, QuadrigaCX, which was the largest cryptocurrency exchange in Canada, lost $19 million of their customers' assets . Decentralized Exchanges (DEXes) have been introduced to address this problem -- they allow traders to purchase and sell cryptocurrencies in a peer-to-peer manner, so no involvement of any trusted party is required. Atomic Swap is one of the promising technology for implementing a DEX. While it enables pure peer to peer trading, it also introduces problems such as unfairness and long confirmation latency. While existing work  has provided a solution towards a fair atomic swap protocol, the issue of long confirmation latency is inherent. Another promising direction is leveraging liquidity pools. With liquidity pools, pairs of assets are reserved for trading. For any pair of assets supported by the liquidity pool, traders can exchange their assets without any third party. As traders can only perform the transactions if there are reserved assets, one core problem is how to attract liquidity providers to provide liquidity by reserving assets. It is not difficult to see that incentive [3,4], which has been a key component of all permissionless blockchains, can be equipped to incentivize liqudity providers. However, flawed incentive designs will lead to attacks and other concerns [5-13]. There are two main types of incentive designs, namely "trans-fee mining" and "liquidity mining". They are different from the Proof-of-X mining in blockchains for reaching consensus (a detailed analysis can be found in the survey ). Rather, they are used to incentivise users to join the ecosystem. "Trans-fee mining" was proposed by FCoin in 2018 . With FCoin, each time a transaction is created, 100% of its transaction fee will be returned in FCoin token to the payer as a reward. This is one incentive design to encourage traders to join the system. However, as FCoin may have no value to the trader, FCoin also introduces extra reward to all coin holders -- 80% of the transaction fee in its native currency (such as ETH) will be distributed to all coin holders. So, traders are incentivized to join the system, becoming a holder of FCoin token, and obtaining a share of the transaction fee of every transaction in the FCoin ecosystem. While this had successful attracted traders, it is not sustainable. Rather than charging a trader to perform transactions, FCoin rewards traders. Profit-driven traders will create transactions at full speed to earn FCoin token and the share as a token holder. Indeed, the trading volume of FCoin was the top one among all exchange services, and the daily reward can be as high as 6000 BTC . However, once all coins are minted, then the system would lose liveness as there is not enough supply to be distributed. "Liquidity mining" aims at giving reward to the liquidity providers rather than the traders. There are different ways to implement liquidity mining. Compound  is a famous example of protocols deploying liquidity mining. With Compound, users become a liquidity provider by supply assets to a pool and obtain interests for its contribution (similar to depositing money into a bank). Liquidity providers first reserve some assets in the pool and obtain "cToken" of Compound which entitles the owner to an increasing quantity of the underlying asset. Users can use their "cToken" to borrow different assets available on the Compound and pay some interests to Compund. The borrowers may have some quick gains through the financial games . Both borrowers and liquidity providers can withdraw their asset by trading them back with "cToken". Oners of "cToken" can also manage the business direction and decisions of Compound through weighted voting. The potential concern here is that rich users might be able to take over the control of the system. Uniswap  is another popular DEX deploying liquidity mining. Uniswap incentivizes liquidity providers by giving them a share of the earned transaction fees. In particular, Uniswap changes each transaction a 0.3% fee, where 0.25% will be distributed to the liquidity providers, and 0.05% will go to the Uniswap account. One issue is how to incentivize traders. With Uniswap, traders are incentivized by the potential profit it can gain through the price difference between Uniswap and other exchanges. Uniswap price oracle is based on a constant function market makers [20,21], where the product of the number of reserved tokens is a constant. For example, if Uniswap has a pair of X token A and Y token B, then when a user using X' token A to buy Y' token B, the product of the reserved number of tokens should remain the same, i.e., XY = (X+X')(Y-Y'). The price of Uniswap (V1) is also defined in this way. This allows traders to speculate in the exchange market as the asset price on Uniswap is changed dynamically and is different from other exchanges. This, on the other hand, may have a security risk as the price can be easily manipulated. Uniswap (V2) fixed this problem by taking an accumulated price over a period of time . However, as speculation/manipulation becomes harder, the trading volume may decrease. MiniSwap  introduces a hybrid model (a mixture of "trans-fee mining" and "liquidity mining") to address the above issues. MiniSwap provides three types of rewards. For each trade with transaction fee f ETH in MiniSwap, a number of MiniSwap tokens (called MINI) worth 2f ETH will be minted. A (parameterized) portion of the tokens are given to the trader, and the rest are distribued to the liqudity providers. The transaction fee (f ETH) is used to exchange MINI in the liquidity pool. 50% of the obtained MINI will be distributed to all MINI holders, and the other 50% will be destroyed. In this way, both traders and liquidity providers are incentivized to join the ecosystem. Recall that with FCoin, there is a problem when all coins are minted. MiniSwap has an upper bound (of 500,000 tokens) on the number of tokens can be created every day, and this limit reduces every month until a point where the limit (18,000 tokens) remains unchanged. This guarantees the sustainability of the system as the mining process can last for 100 years. The parameterized ratio of tokens as the reward to the trader and liquidity provider can also strengthen sustainability. It enables the system to dynamically balance the incentive of different parties in the system to make it more sustainable. Overall, the MiniSwap hybrid model has taken the benefit of both "trans-fee mining" model and "liquidity mining" model, while eliminated the potential concerns. Formally defining and analyzing these models, e.g. through the game-theoretic approach , would be an interesting direction. Reference  The Guardian, Cryptocurrency investors locked out of $190m after exchange founder dies, 2019.  Runchao Han, Haoyu Lin, Jiangshan Yu. On the optionality and fairness of Atomic Swaps, ACM Conference on Advances in Financial Technologies, 2019.  Satoshi Nakamoto. 2008. Bitcoin: a peer-to-peer electronic cash system  Jiangshan Yu, David Kozhaya, Jeremie Decouchant, and Paulo Verissimo. Repucoin: your reputation is your power. IEEE Transactions on Computers, 2019.  Joseph Bonneau. Why Buy When You Can Rent? - Bribery Attacks on Bitcoin-Style Consensus. Financial Cryptography and Data Security - International Workshops on BITCOIN, VOTING, and WAHC, 2016.  Yujin Kwon, Hyoungshick Kim, Jinwoo Shin, and Yongdae Kim. Bitcoin vs. Bitcoin Cash: Coexistence or Downfall of Bitcoin Cash, IEEE Symposium on Security and Privacy (SP), 2019.  Kevin Liao and Jonathan Katz. Incentivizing blockchain forks via whale transactions. International Conference on Financial Cryptography and Data Security, 2017.  Ayelet Sapirshtein, Yonatan Sompolinsky, and Aviv Zohar. Optimal Selfish Mining Strategies in Bitcoin. Financial Cryptography and Data Security, 2016.  Ittay Eyal and Emin Gün Sirer. Majority Is Not Enough: Bitcoin Mining Is Vulnerable. Financial Cryptography and Data Security, 2014.  Ittay Eyal. The Miner’s Dilemma. IEEE Symposium on Security and Privacy, 2015.  Miles Carlsten, Harry A. Kalodner, S. Matthew Weinberg, and Arvind Narayanan. On the Instability of Bitcoin Without the Block Reward. ACM SIGSAC Conference on Computer and Communications Security, 2016.  Kartik Nayak, Srijan Kumar, Andrew Miller, and Elaine Shi. Stubborn mining: generalizing selfish mining and combining with an eclipse attack. IEEE European Symposium on Security and Privacy, 2016.  Runchao Han, Zhimei Sui, Jiangshan Yu, Joseph K. Liu, Shiping Chen. Sucker punch makes you richer: Rethinking Proof-of-Work security model, IACR Cryptol. ePrint Arch, 2019.  Christopher Natoli, Jiangshan Yu, Vincent Gramoli, Paulo Jorge Esteves Veríssimo. Deconstructing Blockchains: A Comprehensive Survey on Consensus, Membership and Structure. CoRR abs/1908.08316, 2019.  FCoin, https://www.fcoin.pro  The Block Crypto. Cryptocurrency exchange Fcoin expects to default on as much as $125M of users' bitcoin, 2020.  Compound, https://compound.finance.  Philip Daian, Steven Goldfeder, Tyler Kell, Yunqi Li, Xueyuan Zhao, Iddo Bentov, Lorenz Breidenbach, Ari Juels. Flash Boys 2.0: Frontrunning, Transaction Reordering, and Consensus Instability in Decentralized Exchanges. IEEE Symposium on Security and Privacy, 2020.  Uniswap. https://uniswap.org  Bowen Liu, Pawel Szalachowski. A First Look into DeFi Oracles. CoRR abs/2005.04377, 2020.  Guillermo Angeris, Tarun Chitra. Improved Price Oracles: Constant Function Market Makers, CoRR abs/ 2003.10001, 2020.  Uniswap V2.0 whitepaper. https://uniswap.org/whitepaper.pdf  MiniSwap. https://www.miniswap.org  Ziyao Liu, Nguyen Cong Luong, Wenbo Wang, Dusit Niyato, Ping Wang, Ying-Chang Liang, Dong In Kim. A Survey on Blockchain: A Game Theoretical Perspective. IEEE Access, 2019.
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