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Be aware that the zrx token isn’t needed for paradex
- 74,754
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Anyone have a tradingview account they wanna share? Wanna use volume profile but don’t wanna pay for it 
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Are there instant buys with robinhood or still have to wait a week?
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- Jul 29, 2012
As I've been mining I've went down the rabbit hole of PoW (proof of work) vs PoS(proof of stake) and why it's important:
Proof of work : requirement to define an expensive computer calculation, called mining. The miners are solving complex math problems to receive a reward (crypto), given to first miner that solves each blocks problem. Network miners compete to find a solution to mathematical problem to earn reward.
BTC and ETH currently use PoW. PoW is dependent on miners two-fold, to verify transactions that are stored on the blockchain and to create new digital currency. The currency is backed up by/dependent on work that is done by the miners that costs electricity. A lot of electricity.
Proof of Stake : Different way to validate transactions with the proof of stake, the creator of a new block is chosen in a deterministic way, depending on its wealth (how much you put in), also defined as stake. There is no longer a block reward and all the digital currencies are previously created in the beginning, and their number never changes. This means that in the PoS system there is no block reward, so, the miners take the transaction fees (mining is still necessary, but to a much lower degree).
Proof of work is SAFER:
Programming an attack to a PoW network is very expensive, and you would need more money than you can be able to steal. Instead, the underlying PoS algorithm must be as bulletproof as possible because, without especially penalties, a proof of stake-based network could be cheaper to attack.
Imo we can make PoW succeed if as a population we commit to renewable energy.
However, China has already monopolized the mining industry and any PoW will be feeding not only China, but these mining companies. China basically makes more and more efficient miners and sells off their less efficient versions to the public. Currently Ethereum is switching to a hybrid PoW/PoS because Bitmain (Chinese miner company) has figured out how to create a miner for mining Ethereum (ETH is built as a PoW but anti-mining rigs). They have intent to go full PoS in the future (hard fork) due to the issues. The idea of blockchain cryptocurrency is decentralization, but by having miners own majority of PoW cryptos, it becomes centralized by them.
These are two completely different philosophies and when you see a fork it is usually switching from PoW to PoS or vice versa. Why switch? Proof of work takes up tons of electricity "In a distributed consensus-based on the proof of Work, miners need a lot of energy. One Bitcoin transaction required the same amount of electricity as powering 1.57 American households for one day" And these energy costs are paid with fiat currencies, leading to a constant downward pressure on the digital currency value. Proof of stake is greener and cheaper.
PoS can be manipulated by whales with >51% stake and the rich will become richer by owning a large stake --> centralization w/ possible manipulation by whales. Proof of stake can be made safe, just need perfect, impregnable algorithm.
Wanted to share what I learned with you guys and the ongoing debate in the crypto community Pos vs PoW
Proof of work : requirement to define an expensive computer calculation, called mining. The miners are solving complex math problems to receive a reward (crypto), given to first miner that solves each blocks problem. Network miners compete to find a solution to mathematical problem to earn reward.
BTC and ETH currently use PoW. PoW is dependent on miners two-fold, to verify transactions that are stored on the blockchain and to create new digital currency. The currency is backed up by/dependent on work that is done by the miners that costs electricity. A lot of electricity.
Proof of Stake : Different way to validate transactions with the proof of stake, the creator of a new block is chosen in a deterministic way, depending on its wealth (how much you put in), also defined as stake. There is no longer a block reward and all the digital currencies are previously created in the beginning, and their number never changes. This means that in the PoS system there is no block reward, so, the miners take the transaction fees (mining is still necessary, but to a much lower degree).
Proof of work is SAFER:
Programming an attack to a PoW network is very expensive, and you would need more money than you can be able to steal. Instead, the underlying PoS algorithm must be as bulletproof as possible because, without especially penalties, a proof of stake-based network could be cheaper to attack.
Imo we can make PoW succeed if as a population we commit to renewable energy.
However, China has already monopolized the mining industry and any PoW will be feeding not only China, but these mining companies. China basically makes more and more efficient miners and sells off their less efficient versions to the public. Currently Ethereum is switching to a hybrid PoW/PoS because Bitmain (Chinese miner company) has figured out how to create a miner for mining Ethereum (ETH is built as a PoW but anti-mining rigs). They have intent to go full PoS in the future (hard fork) due to the issues. The idea of blockchain cryptocurrency is decentralization, but by having miners own majority of PoW cryptos, it becomes centralized by them.
These are two completely different philosophies and when you see a fork it is usually switching from PoW to PoS or vice versa. Why switch? Proof of work takes up tons of electricity "In a distributed consensus-based on the proof of Work, miners need a lot of energy. One Bitcoin transaction required the same amount of electricity as powering 1.57 American households for one day" And these energy costs are paid with fiat currencies, leading to a constant downward pressure on the digital currency value. Proof of stake is greener and cheaper.
PoS can be manipulated by whales with >51% stake and the rich will become richer by owning a large stake --> centralization w/ possible manipulation by whales. Proof of stake can be made safe, just need perfect, impregnable algorithm.
Wanted to share what I learned with you guys and the ongoing debate in the crypto community Pos vs PoW
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Robinhood sounds a lot like Abra.
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Isn’t Abra a wallet? Robinhood is a whole investing/trading platform
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- 27,294
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- Oct 2, 2011
Ah.
So many exchanges these days.
I see they support Vert
So many exchanges these days.
I see they support Vert
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Qsp, Icx, blz look good here on this pullback. KNC has a little more downside but it will be hitting support around 1800 if it keeps leaking.
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Good looks dude I wasn’t aware.
But given the price point and all the recent progress and positive press I was more than happy to get involved.
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It’s a well regarded coin anyway so it could be worth the investment.
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Yes it's a bitcoin, litecoin wallet but you can trade directly into a lot of other coins and foreign currencies. No fees and takes AMEX4%, bank wire and transfer.
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- Nov 18, 2016
I believe some of you already use Coinflash (as do I), but here is a similar app that will launch in September....sign up and get your $5.00:
http://beta.hodlit.com/prelaunch/
http://beta.hodlit.com/prelaunch/
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- 74,754
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Grabbed some more qsp. Love the chart and rebound off yesterday’s lows.
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Physical wallet hodlers...
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Yea consensus for blockchains is a big rabbit hole and a lot of it goes over my head when reading white papers.
I'm a fan of POW if the computational power required is been put to good use. Matrix for example is going to use the mining to power AI and others use the mining for decentralised cloud computing. Some of the newer stuff are also meant to be able to be self forking so that changes can be made to the blockchain to prevent ASICS being devloped for it which will prevent centralization to an extent. There are lots of data centers and server farms constantly running even though they're doing nothing so why not put them to use as a node for a blockchain if they're idle.
I'm also a fan of consensus algorithms that use hard drive space for mining. Cheaper, less noise, less energy consumption and better decentralisation.
I've been looking at Chia which is a project made by the dude who made torrents. One to keep an eye out for and potentially where the future could be for currency coins.
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Lol so what does that mean for sia ? Sounds like a similar thing
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Chia sounds kinda brilliant with the farming aspect. What’s the supply like? Gotta read that white paper later.
Wan, xlm look good for reversals
Wan, xlm look good for reversals
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Chia is still in the IPO stage. They're raising 150 million from what I heard which is a big hardcap but they will be SEC compliant and alladat so they're using that plus their CEO to generate hype.
Not even sure there's a whitepaper yet but it's all meant to kick into gear really soon.
Sia has first movers advantage but tech waits for no one. Still though, until mainnet for Chia or other project launches they are still on top if they have a working product.
Another one I found out about this week thats similar is Universal Labs. They have hardware which they're producing which will act as mining node on the blockchain and become your cloud storage too
Not even sure there's a whitepaper yet but it's all meant to kick into gear really soon.
Sia has first movers advantage but tech waits for no one. Still though, until mainnet for Chia or other project launches they are still on top if they have a working product.
Another one I found out about this week thats similar is Universal Labs. They have hardware which they're producing which will act as mining node on the blockchain and become your cloud storage too
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I finally received my RobinHood Crypto invitation.
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https://torrentfreak.com/tron-founder-plans-to-buy-bittorrent-inc-180525/
Justin Sun buying BitTorrent.
Perhaps this will give the Chia owner some capital for his project.
Justin Sun buying BitTorrent.
Perhaps this will give the Chia owner some capital for his project.
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No weak hands here. I am ready.
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- Nov 18, 2016
When someone says, “who would buy crypto / digital currency?”..... fortnite just made $296 million in April via their V-Bucks in-game currency which lets u buy “skins” for the game. #intrinsicvalue
https://tcrn.ch/2IJMGPz
https://tcrn.ch/2IJMGPz
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dblplay1212
Supporter
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This isn't new. Games like NBA2k have been using VC (virtual currency) for years. It's basically store credit on the game. You buy it with your bank account. It really doesnt have anything to do with crypto. It's just game credits. You can buy a 2k VC gift card at Gamestop. Almost every game has some type of add ons you can buy now. They make more money off that than the sale of the game itself. It's not crypto related though unless I'm missing something. It's just game credits.
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