History Suggests Bitcoin’s Next Big Breakout Will Take ...

Putting $400M of Bitcoin on your company balance sheet

Also posted on my blog as usual. Read it there if you can, there are footnotes and inlined plots.
A couple of months ago, MicroStrategy (MSTR) had a spare $400M of cash which it decided to shift to Bitcoin (BTC).
Today we'll discuss in excrutiating detail why this is not a good idea.
When a company has a pile of spare money it doesn't know what to do with, it'll normally do buybacks or start paying dividends. That gives the money back to the shareholders, and from an economic perspective the money can get better invested in other more promising companies. If you have a huge pile of of cash, you probably should be doing other things than leave it in a bank account to gather dust.
However, this statement from MicroStrategy CEO Michael Saylor exists to make it clear he's buying into BTC for all the wrong reasons:
“This is not a speculation, nor is it a hedge. This was a deliberate corporate strategy to adopt a bitcoin standard.”
Let's unpack it and jump into the economics Bitcoin:

Is Bitcoin money?

No.
Or rather BTC doesn't act as money and there's no serious future path for BTC to become a form of money. Let's go back to basics. There are 3 main economic problems money solves:
1. Medium of Exchange. Before money we had to barter, which led to the double coincidence of wants problem. When everyone accepts the same money you can buy something from someone even if they don't like the stuff you own.
As a medium of exchange, BTC is not good. There are significant transaction fees and transaction waiting times built-in to BTC and these worsen the more popular BTC get.
You can test BTC's usefulness as a medium of exchange for yourself right now: try to order a pizza or to buy a random item with BTC. How many additional hurdles do you have to go through? How many fewer options do you have than if you used a regular currency? How much overhead (time, fees) is there?
2. Unit of Account. A unit of account is what you compare the value of objects against. We denominate BTC in terms of how many USD they're worth, so BTC is a unit of account presently. We can say it's because of lack of adoption, but really it's also because the market value of BTC is so volatile.
If I buy a $1000 table today or in 2017, it's roughly a $1000 table. We can't say that a 0.4BTC table was a 0.4BTC table in 2017. We'll expand on this in the next point:
3. Store of Value. When you create economic value, you don't want to be forced to use up the value you created right away.
For instance, if I fix your washing machine and you pay me in avocados, I'd be annoyed. I'd have to consume my payment before it becomes brown, squishy and disgusting. Avocado fruit is not good money because avocadoes loses value very fast.
On the other hand, well-run currencies like the USD, GBP, CAD, EUR, etc. all lose their value at a low and most importantly fairly predictible rate. Let's look at the chart of the USD against BTC
While the dollar loses value at a predictible rate, BTC is all over the place, which is bad.
One important use money is to write loan contracts. Loans are great. They let people spend now against their future potential earnings, so they can buy houses or start businesses without first saving up for a decade. Loans are good for the economy.
If you want to sign something that says "I owe you this much for that much time" then you need to be able to roughly predict the value of the debt in at the point in time where it's due.
Otherwise you'll have a hard time pricing the risk of the loan effectively. This means that you need to charge higher interests. The risk of making a loan in BTC needs to be priced into the interest of a BTC-denominated loan, which means much higher interest rates. High interests on loans are bad, because buying houses and starting businesses are good things.

BTC has a fixed supply, so these problems are built in

Some people think that going back to a standard where our money was denominated by a stock of gold (the Gold Standard) would solve economic problems. This is nonsense.
Having control over supply of your currency is a good thing, as long as it's well run.
See here
Remember that what is desirable is low variance in the value, not the value itself. When there are wild fluctuations in value, it's hard for money to do its job well.
Since the 1970s, the USD has been a fiat money with no intrinsic value. This means we control the supply of money.
Let's look at a classic poorly drawn econ101 graph
The market price for USD is where supply meets demand. The problem with a currency based on an item whose supply is fixed is that the price will necessarily fluctuate in response to changes in demand.
Imagine, if you will, that a pandemic strikes and that the demand for currency takes a sharp drop. The US imports less, people don't buy anything anymore, etc. If you can't print money, you get deflation, which is worsens everything. On the other hand, if you can make the money printers go brrrr you can stabilize the price
Having your currency be based on a fixed supply isn't just bad because in/deflation is hard to control.
It's also a national security risk...
The story of the guy who crashed gold prices in North Africa
In the 1200s, Mansa Munsa, the emperor of the Mali, was rich and a devout Muslim and wanted everyone to know it. So he embarked on a pilgrimage to make it rain all the way to Mecca.
He in fact made it rain so hard he increased the overall supply of gold and unintentionally crashed gold prices in Cairo by 20%, wreaking an economic havoc in North Africa that lasted a decade.
This story is fun, the larger point that having your inflation be at the mercy of foreign nations is an undesirable attribute in any currency. The US likes to call some countries currency manipulators, but this problem would be serious under a gold standard.

Currencies are based on trust

Since the USD is based on nothing except the US government's word, how can we trust USD not to be mismanaged?
The answer is that you can probably trust the fed until political stooges get put in place. Currently, the US's central bank managing the USD, the Federal Reserve (the Fed for friends & family), has administrative authority. The fed can say "no" to dumb requests from the president.
People who have no idea what the fed does like to chant "audit the fed", but the fed is already one of the best audited US federal entities. The transcripts of all their meetings are out in the open. As is their balance sheet, what they plan to do and why. If the US should audit anything it's the Department of Defense which operates without any accounting at all.
It's easy to see when a central bank will go rogue: it's when political yes-men are elected to the board.
For example, before printing themselves into hyperinflation, the Venezuelan president appointed a sociologist who publicly stated “Inflation does not exist in real life” and instead is a made up capitalist lie. Note what happened mere months after his gaining control over the Venezuelan currency
This is a key policy. One paper I really like, Sargent (1984) "The end of 4 big inflations" states:
The essential measures that ended hyperinflation in each of Germany,Austria, Hungary, and Poland were, first, the creation of an independentcentral bank that was legally committed to refuse the government'sdemand or additional unsecured credit and, second, a simultaneousalteration in the fiscal policy regime.
In english: *hyperinflation stops when the central bank can say "no" to the government."
The US Fed, like other well good central banks, is run by a bunch of nerds. When it prints money, even as aggressively as it has it does so for good reasons. You can see why they started printing on March 15th as the COVID lockdowns started:
The Federal Reserve is prepared to use its full range of tools to support the flow of credit to households and businesses and thereby promote its maximum employment and price stability goals.
In english: We're going to keep printing and lowering rates until jobs are back and inflation is under control. If we print until the sun is blotted out, we'll print in the shade.

BTC is not gold

Gold is a good asset for doomsday-preppers. If society crashes, gold will still have value.
How do we know that?
Gold has held value throughout multiple historic catastrophes over thousands of years. It had value before and after the Bronze Age Collapse, the Fall of the Western Roman Empire and Gengis Khan being Gengis Khan.
Even if you erased humanity and started over, the new humans would still find gold to be economically valuable. When Europeans d̶i̶s̶c̶o̶v̶e̶r̶e̶d̶ c̶o̶n̶q̶u̶e̶r̶e̶d̶ g̶e̶n̶o̶c̶i̶d̶e̶d̶ went to America, they found gold to be an important item over there too. This is about equivalent to finding humans on Alpha-Centauri and learning that they think gold is a good store of value as well.
Some people are puzzled at this: we don't even use gold for much! But it has great properties:
First, gold is hard to fake and impossible to manufacture. This makes it good to ascertain payment.
Second, gold doesnt react to oxygen, so it doesn't rust or tarnish. So it keeps value over time unlike most other materials.
Last, gold is pretty. This might sound frivolous, and you may not like it, but jewelry has actual value to humans.
It's no coincidence if you look at a list of the wealthiest families, a large number of them trade in luxury goods.
To paraphrase Veblen humans have a profound desire to signal social status, for the same reason peacocks have unwieldy tails. Gold is a great way to achieve that.
On the other hand, BTC lacks all these attributes. Its value is largely based on common perception of value. There are a few fundamental drivers of demand:
Apart from these, it's hard to argue that BTC will retain value throughout some sort of economic catastrophe.

BTC is really risky

One last statement from Michael Saylor I take offense to is this:
“We feel pretty confident that Bitcoin is less risky than holding cash, less risky than holding gold,” MicroStrategy CEO said in an interview
"BTC is less risky than holding cash or gold long term" is nonsense. We saw before that BTC is more volatile on face value, and that as long as the Fed isn't run by spider monkeys stacked in a trench coat, the inflation is likely to be within reasonable bounds.
But on top of this, BTC has Abrupt downside risks that normal currencies don't. Let's imagine a few:

Blockchain solutions are fundamentally inefficient

Blockchain was a genius idea. I still marvel at the initial white paper which is a great mix of economics and computer science.
That said, blockchain solutions make large tradeoffs in design because they assume almost no trust between parties. This leads to intentionally wasteful designs on a massive scale.
The main problem is that all transactions have to be validated by expensive computational operations and double checked by multiple parties. This means waste:
Many design problems can be mitigated by various improvements over BTC, but it remains that a simple database always works better than a blockchain if you can trust the parties to the transaction.
submitted by VodkaHaze to badeconomics [link] [comments]

Some Bitcoin Analysts and Prediction Today and Yesterday & Why "It's not the Price, Dummy"

This is just for fun, I generally have no strong feelings toward bitcoin price (I'm just fundamentally against zero-sum get rich schemes). But today I decided to do a little bitcoin search in news.google.com and see what today's bulls were predicting in 2018. Side note, almost all of the news articles came from crypto sites. I tried my best to stay away from them. Farming magazine telling you agriculture is the future isn't exactly shocking.
To people who invest, please don't consider this as a prediction that price will fall. I'm not astute or smart enough to predict either way. The only possible use is to make sure you are more skeptic regarding predictions. Keep in mind, a rich CEO or consultant can lose 100 million and not really affect his life that much, but a 10k or 100k lose for some people can be devastating. And remember, some of these rich hedge managers don't believe their own bullshit, and hopefully, some of these quotes will emulate that.
(Note, I won't waste time linking them all, but by quoting them directly, it should be easy to google)
(another side note, I didn't purposely search out specific names. I went by the first names I came across, and only ignoring those that I couldn't find anything regarding crypto in past years)

Mike Novogratz

Present: Business Inside: Bitcoin is like 'digital gold' and won't be used the same as a traditional currency in at least 5 years, billionaire investor Mike Novogratz says
Past: On Nov, 2017, he said: "Bitcoin could ‘easily’ reach $40,000 by the end of 2018, hedge fund legend Novogratz says"
2018: "Michael Novogratz calls a bottom in cryptocurrencies" (it wasn't)
Novogratz started a crypto funding in 2018. First 9 months "Mike Novogratz’s Crypto Trading Desk Lost $136 Million in Nine Months" (Bloomberg). Quarter 4: "Galaxy Digital Posts $32.9 Million in Net Loss for Q4 2019". Feb 2020 "Mike Novogratz’s Galaxy Digital Slashes 15% Staff"

Raoul Pal

Present: "For Raoul Pal, CEO of Real Vision, the bullish atmosphere had been reinforced, and further gains were more likely than ever.
“There are literally only two resistances left on the #bitcoin chart - 14,000 and then the old all-time high at 20,000,” he tweeted."
In a tweet today, he said, "Bitcoin is eating the world...
It has become a supermassive black hole that is sucking in everything around it and destroying it. This narrative is only going to grow over the next 18 months.
You see, gold is breaking down versus bitcoin...and gold investors will flip to BTC"
Past: 2014: "Put them in the same kind of equation we get a value of bitcoin and that value is a million dollars. Now, you'll never hear an analyst say this—but I don't mind this—I could be wrong by 90%, and it's still worth $100,000." (to be honest, that's a bit of an impressive prediction in 2014)
On the other hand, he probably didn't really believe his own prediction because in June, 2017 (when it was 2000 USD or so), he said: " “This is the most exponential move we have seen. I don’t know how far it goes, but I sold out last week… and I’ve [owned Bitcoin] since it was $200. Anything that moves exponentially, always [blows up].”"
In 2016, "This view brings Pal to the asset he favors most over the next year out of bonds, equities, currencies and commodities: the dollar."

---

Eh, that was just two. I was hoping to mention several people, but it appears not many people are actually making predictions anymore, and anyone mentioned are basically not big people so I couldn't find much on them regarding bitcoin before 2019.
So, the main thing I like to highlight are the analysts and such are going to make money whatever happens. Fund managers are playing with people's money and, as long as they are not involved in frauds, there is no real harm to them against wrong predictions. Generally, successful business people are successful because they were loud, confident, and were able to convince others that they had the right idea. Even when wrong, they bounce back. Most of us aren't like that.
Some bitcoiners come here to boast when price goes up, as if the increase in price is an indication that argument against bitcoin has been proven wrong. While some people here are fanatically anti-bitcoin, I am not one of those. I have nothing against people making money (why would I be upset that people I don't know around the world became wealthier??). But since bitcoin investing is by design a zero sum game, certain people will eventually lose, and it is most likely it is the people who were listening to predictions by experts that would ultimately be financially hurt, and not the experts making the predictions.
Crypto investing has been a platform where the average person works hard in his day to day life, and then brings the fruits of his labor into this field. The actual productive part of that person's life is the one outside crypto, where they had been productive for the community, and in exchange, they receive wages. Crypto investing's promise is for this wage to increase without the actual productivity. The concern is mainly that the result of all that labor will be misused by crypto "experts" who's own income (their labor) is directly linked to predictions on crypto.
The above paragraph is badly explained, but the main point is that the average person brings in outside money they worked hard for, while "experts" there is generally no outside money, crypto fund management or consulting itself is their job.
---
Money can be made, of course, but money being made isn't necessarily an argument for something. Bitcoin, and crypto, has for the past 1.5 decades still largely just about numbers going up. Google trend on "bitcoin" show top related queries being "bitcoin price", "bitcoin usd", "bitcoin usd price". When people come here when it hits a particular arbitrary price point thinking it's their gotcha moment, it actually just reinforces my argument that it is only about the price. Nothing in the history of human economy has ever lasted based only on the economic model of who you could resell it for at a higher price.
Even DeFi's smart contracts (as much as I could understand it) is about prices going up. It's like for these people the concept of contracts are based purely on money exchanging hands, and no actual task being done. Almost all contracts globally are based on specific productive tasks being done, such as employee contract, supplier contract, property contract, and so on. Only a tiny amount of it is based on "if this currency goes up, then give me that currency" contracts.
---
submitted by madali0 to Buttcoin [link] [comments]

CEO KardiaChain Tri Pham - Aspiration for every Vietnamese person to own tokens.

At the beginning of last year, a Vietnamese Startup announced the successful construction of a multi-connected blockchain system called KardiaChain.In particular, recently KardiaChain officially launched a cooperation deal with Mai Linh Group to promote the use of KAI tokens into life.
To better understand the mission of bringing Blockchain technology closer to the Vietnamese people, Beincrypto had the opportunity to interview Mr. Tri Pham - CEO of KardiaChain about the views and spirit that KardiaChain wants in the present and in the future. With the wish that every citizen owns tokens and realizes the huge potential of the Vietnamese market when the government and businesses still do not have a decentralized technology platform, Mr. Tri Pham and his colleagues have decided to quit his job in the UK to return to Vietnam to settle down.
Reporter: As an entrepreneur with a dream career in the UK, why did you decide to return to Vietnam to build a blockchain startup. Do you feel that Vietnamese people are embracing Blockchain technology?
Honestly, when my family knew I was doing blockchain or crypto, it was very frustrating. Because in Vietnam, hearing about Blockchain or Bitcoin thinks it is virtual money, so it is very shy. Businesses take a long time to learn about this technology. In the West, they already have solid information networks, technology systems, and digitalization available so when applying Blockchain will not add much value. In Vietnam, digital information system has not been widely applied, so it will be easier to apply a new technology. The next potential lies in the large Vietnamese population, a large number of young people, the high rate of mobile phone usage, and the rapid ability to access new information. I used to work and start a business in the technology field, so I want to build a blockchain infrastructure for Vietnam. I am a Vietnamese, so I always look to my homeland and want to bring products of genuine value to Vietnam.
Reporter: Recently, KardiaChain has created an echo when cooperating with Mai Linh. How do you feel when you combine with Mai Linh group?
Director of Mai Linh used to be a soldier, so he has a national spirit and wants to help Vietnamese people extremely. I see in Mai Linh that they are very humane, working I feel consistent with my values. The two sides have similarities in their goals and visions for a better Vietnamese society, so it's easy to work and they get a lot of support.
Reporter: In the past, Kardiachain focused a lot on serving Government objects, businesses but not C2C, but what about now?
What I want is that every Vietnamese person has KAI tokens in their possession. But to do this is really difficult because Blockchain technology itself is very complex, to ordinary people it is invisible, because they cannot see. One just needs to know "Ah! I have the token, how do I spend ". The goal of KardiaChain (KAI) is to bring a lot of value to the user, one does not need to know the underlying technology, one only needs to know the applications so they get used to owning and using tokens. I choose to approach businesses and organizations that own existing Customer files, with large data, the token will reach more users. Cooperation with businesses like Mai Linh or carriers like Viettel to bring tokens to many benefits for use in real life and that everyone can accept and easily use.
Reporter: Coming up is the highly anticipated Mainnet event of KAI. What steps have you taken to prepare for a successful Mainnet launch?
KardiaChain launched quite a few products starting at the end of 2018. While building infrastructure for Mainnet, KardiaChain contacted business parties in many other fields to know what they need to do to solve their business problems. industry has no answer. Through many times I have tested and run many products, I have recently selected only a few as key products. For example, a product that allows users to use tokens to vote, especially in the sports and game fields. Blockchain is decentralized, so it must be community-based, votes and votes must be trusted.
Recently, KardiaChain also launched KAIstarter as a DeFi platform for KAI holders to invest in traditional businesses and earn stable profits and businesses also take advantage of a source to call a transparent investment fund. benefits for both parties.
Reporter: When going into the mainnet, from the perspective of investors holding KAI, what benefits will it bring?
The mainnet will make applications running on Kardia faster and more cost effective. Currently, some applications on KardiaChain running in conjunction with the Ethereum platform incur high fees. And the second advantage, when I have a mainnet, there are many better upgraded products.
Reporter: Recently, KardiaChain has been continuously named on the potential token rankings of major overseas communities. So why do you think KardiaChain is so loved by the international community?
Since its listing, the price of the KAI token has risen to a peak of 2000% and is well received by the international community. I think KAI has some values ​​that Westerners like. There are people who first learned about KAI were quite surprised because KAI has been quietly developing products since 2018 and they understand Kardiachain is a serious project. The second point is that the Kardiachain team has a culture that says it can be done. The announced plans and roadmaps have all been implemented on schedule. And finally, the KardiaChain team did direct marketing, unlike projects that were set up to blow up the price of tokens, they regulate and release news many rounds to push the token price, but doing so is not sustainable, so then the price plummeted again. KardiaChain is not so roundabout that the announcement of the product launch is immediately out. Therefore, this creates confidence in KAI's sustainable development foundation.
Reporter: Thank you Mr. Tri for yourtime. The fourth quarter of 2020 is sure to have many more milestones to look forward to for Kardiachain's supporters. Stay tuned and support Kardiachain!
https://beincrypto.vn/ceo-kardiachain-tri-pham-khat-vong-tung-nguoi-viet-ai-cung-so-huu-token
submitted by cryptomonkey_3 to KardiaChainUnofficial [link] [comments]

Monthly Update: Parachute Social Liquidity Pools, Ivan(OnTech) Joins as Advisor, Townhall, Trending on CoinGecko, Covered by EllioTrades Crypto + Altcoin Buzz, …– 31 Jul – 3 Sept'20

Monthly Update: Parachute Social Liquidity Pools, Ivan(OnTech) Joins as Advisor, Townhall, Trending on CoinGecko, Covered by EllioTrades Crypto + Altcoin Buzz, …– 31 Jul – 3 Sept'20
Hola folks! Yesterday we got caught up with everything that happened in July 2020 at Parachute and ParJar. Today, I will be sharing news from August. Looking back at those five weeks, they were easily one of the most action-packed ones in the Parachuteverse ever. If you missed my note about the new format from yesterday: “…I thought it would be best to club all the Parachute news into monthly reports and publish them back-to-back over the next few days to catch up with the latest…For a change, we will be focusing on Parachute + ParJar news alone in these monthly reports. Because if we include news from our partner project in these, we might as well publish the Encyclopaedia Britannica”. In case you thought yesterday’s was a long read, boy are you in for a shock today. Make sure to get yourself a beverage and set aside an hour to go through all that will follow. So here’s goes the Parachute scrolls dating 31-Jul-20 to 3-Sept-20 –
31 Jul – 6 Aug'20:
$PAR became one of the top trending coins on CoinGecko this week. The token also received a perfect score on DEXTools. Pretty sweet! We crossed 2500 members in the Parachute channel after quite a while. But no sign of Ron yet. Haha. BrainiacChess Network ($CHESS) was added to ParJar. We got a surprise listing on Hotbit ourselves with an ETH and BTC pairing. $PAR was listed on CoinW exchange this week too. More details here. Looks like wrapping up a day at Parachute usually ends with steaks. If you ever thought otherwise, a look at the $PAR contract should dispel that doubt. A community vote was opened up to list the next token on ParJar. Congratulations to Chirag for winning this week’s Parena and taking home 6k+ $PAR. Neat! Everybody knows about the bitcoin pizza. But did you know about the bitcoin burger? Read all about AlBundy185's crazy BTC journey here. What a wild ride indeed!
AlBundy185’s BTC ride has to be a stuff of legends
Pic of Gian with Diamond Dallas Page taken from his epic WCW Thunder story (https://t.me/parachutetokengroup/395125). Spooky sent us!
Gian announced a temporary stoppage of Two-for-Tuesday to make way for the second annual Big Brother contest. Soon after, he opened up entries for the contest. Woot! Fans can also get updates and spoilers from the GC’s BB group. Gamer Boy hosted a “Random Gk” trivia in TTR this week. Naj hosted a Sunday “Mega Trivia”. Afful held a “General knowledge” trivia as well. Sebastian shared the new ParJar Gaming schedule for August. Yes, you read that right. 75k $PAR in the monthly prize pool. Woot! For this week's Friday creative prompt (#nottodaycovid) by Jason, Parachuters talked "about what you are doing to keep yourself sane during the pandemic" for some cool $PAR.
Alejandro’s betta fish collection is a sight for sore eyes
Elmar, these are all amazing!
Model ships made by Bada during the lockdown. Awesome!
Ivan (from Ivan on Tech) joined the Parachute channel this week. Looks like next few weeks are going to be super exciting! Doc Vic hosted a flash game in the Parachute War Zone for some cool $PAR prizes. Mario had an interesting idea. Change the ParJar display name to “ParJar Wallet” to actually reflect the true nature of ParJar. And voila! “ParJar” is now “ParJar Wallet”. Instant feedback implementation! We also finally got an unofficial price chatter group running. As we mentioned in the last update, Clinton released a limited edition shirt in the Parachute Store this week to commemorate the Liquidity Program on Uniswap. Some of the Parena merch had to be sunsetted from the store though. So if you grabbed some before that, you are now the proud owner of rare Parena merchandise. James from the Parachute Athletics and Running Club announced a Secret Challenge for 400 $PAR. Cap shared a sneak peek into what’s brewing behind the scenes. He also posted some experimental visuals for the website and for ParJar:
Cap’s creative spurts are super trippy! Pt. I
Trippy creatives from Cap Pt. II
7 Aug – 13 Aug'20:
ParJar did some heavy lifting on behalf of Uniswap this week when Uniswap got clogged but ParJar swaps were running smoothly. If you haven’t seen how swaps work yet, CF made another cool video tutorial. Following last week’s community vote, Enjin ($ENJ) won a spot to become the next swappable token on ParJar. DMM DAO’s $DMG token was listed on ParJar as well. Inputs from the community were taken for listing the next DeFi token on ParJar. A new tier was added for the Parachute Uniswap Liquidity Rewards Program this week. Last week’s incredible Parachute run on CoinGecko was noticed by many including DAO Maker and Blockfyre. We got word that Parachute was featured in Ivan’s (Ivan on Tech) private report meant for his closed group of subscribers. Word on the street is that Parachute was reviewed in detail in the Hidden Gems section of the report and received the highest score among all the projects covered there. Super cool! He also talked about Parachute in his latest video. Watch out for timestamps 42:23 and 47:48. And followed it up with another mention in next day’s video as well. Pretty cool! $PAR also saw some crazy movements and activity. And all this started while Cap was chilling on an Amtrack on his way to Vermont. Haha.
Cap shared this amazing view from Vermont
Check out the Sentivate gear in the Parachute shop. For this week's creative prompt (#donkeyart), Jason had Parachuters "find an image of a piece of art that particularly moved" them and explain how and why. Darren’s Mega Friday Trivia in Tiproom had a sweet 6300 $PAR prize pot. Peace Love (Yanni) hosted another quiz in TTR with some more cool $PAR prizes. Clinton’s charity For Living Independence (FLI) became Lumenthropy’s spotlight charity this week which means they will be matching all $XLM donations to FLI. Lumenthropy is Stellar’s charitable arm. The entries to Gian's Big Brother Contest closed this week with Gian starting to share updates on episodes and $PAR rewards to weekly winners. If you want to catch all the action, head over to the BB Group set up by GC. And the most amazing thing happened this week – As new folks were joining into the Parachute group, someone named Ender Wiggin chimed into the chatter and as we talked we figured that he was not only Cap's neighbour in NYC but was also my school senior. Parachute truly brings the world together! PARs & Recreation wants to create a Parachute foodies group. And if his posts are anything to go by (figs, blueberries, Ikura), it’s going to be a hunger-inducing channel. Doc Vic (from Cuba) announced the start of a team Deathmatch tournament in the Parachute War Zone.
Congratulations, Clinton!
Looks like an epic ParJar video is underway. Parachute was also covered extensively by EllioTrades Crypto this week. YouTuber CM TopDog too made an awesome video on Parachute where he talked at length about the project, the roadmap, the token and more. Saweet! After seeing Albundy185 struggle with pooling on Uniswap, Cap and Ice had a light bulb moment for an entirely new feature on ParJar that would make pooling social and fun. More details to be released over the next few weeks.
Jose’s epic new gif puts Cap’s lightbulb moment about social pools into perspective :D
Looks like Alexis’ neighbour is into Uniswap pools as well. Get it, get it? Haha
Congratulations on the new store, Hang! Folks who don't know, Hang is building a hempire. World domination next
14 Aug – 20 Aug'20:
As mentioned last week, Cap and crew had something cool brewing for folks who pool assets on Uniswap. Presenting Social Liquidity Pools (SLP) by Parachute. No more pooling/staking alone in silos. Get together with others doing what you love most – pool assets on Uniswap (either directly or through ParJar - upcoming), then stake the received liquidity tokens into SLPs on ParJar to get additional rewards and social bonuses like entry into VIP or premium token curated groups. Making Uniswap social! Click here to read about what’s next for ParJar and Parachute. The first Uniswap $PAR Liquidity Pool Rewards Program came to a close. All qualified poolers will receive their rewards in 2 months. DeFi superstar yearn.finance ($YFI) was added to ParJar this week for both sends/tips and swaps. Woohoo! Waifu in the house. After last week’s community inputs regarding the next new token on ParJar, a public vote was started. Uptrennd founder Jeff Kirdeikis’ latest project, TrustSwap ($SWAP), got listed on ParJar after winning that vote which got a shoutout from Ivan as well. So now we have a tongue twister on our hands. Haha. Cap also shared the first hints about $PAR governance. More details to be posted next week. Plus, Cap announced that he will be hosting a townhall next week. Stay tuned! Get your questionnaire ready. Like last week, Parachute chatter popped up in Ivan’s latest video this week as well.
Dang! What an amazing place, Victor
For all the mobile gamers out there, Tony set up a Parachute Corporation for the EVE Echoes game. Hit him up if you want to join. Naj hosted a Sunday TTR trivia with a 6300 $PAR prize pot. Gamer Boy held one as well. Darren’s Mega Trivia in Tiproom was super fun as always. Jason did an impromptu token giveaway so that fellow collectors could complete their ParJar collection followed by a mini contest to "guess the closest to the number of miles I am about to run" for some cool $PAR. Chris hosted this week’s creative Friday prompt (#adminfunday): “Using the profile image of any Parachute admin as inspiration, draw what you think that admin would like to do on the weekend”. And what an amazing video Hans (Pad of DeFi Chad). Haha! Super hilarious and fun.
Some of the radest #adminfunday entries. Clockwise from top left: Skittish, TyReal, Staph It!!, Yosma, Ik Now, Jeff, Chica Cuba, Jhang, Kuuraku
21 Aug – 27 Aug'20:
Ivan (from Ivan On Tech) joined Parachute as an advisor. Woot! Welcome to the Parachute fam. Here’s a sneak peek into what the first day discussions with Ivan as an advisor revolved around. The project got featured in France’s largest crypto news platform, Journal du Coin. Noice! Click here for the English translated version. As mentioned earlier, Cap hosted a townhall this week. If you missed it, you can catch up here. He also shared a rough draft snapshot of “how the governance and fee distribution contracts could look for ParJar Wallet”. Plus, some updates from this week and a big picture view at what staking liquidity through ParJar could look like. Parachute also got mentioned in another of Ivan’s videos this week.
Snapshot from the Parachute Townhall
In partnership with Sentivate, ParJar distributed $SNTVT tokens this week to 1500 people of whom 800 were new users. Sentivate hosted this drop for members of a specific group as a token of appreciation for their support. Reminiscent of the AMGO drop, this was a precursor of “how PAR drops + other token drops could work for our Social Liquidity pooling”. The $PAR Governance whitepaper was released and initial brainstorming started in the tokenomics group. Cap was also interviewed by YouTuber Money Party (@Edward_F) this week to talk at length about where we are at and where we are heading. We also received a super duper shoutout from CryptoTube in his latest video where he did a deep dive into ParJar and Parachute. Thanks a ton! Cryptovator did a cool feature on the project as well.
Cap added more changes to the site to show: \"ParJar wallet in action along with…the integrations\" + Big Picture
In this week's creative contest, Jason put up a #writingprompt: "...imagine you are a brand new intern at my new mega corporation...Today is your first day and you are told you need to present something about crypto to upper management...all you know is Bitcoin is a thing and some vague information about it. Pick a coin or general crypto subject and write a short story...None of the facts or material can be correct in your presentation...". Haha! After helping fellow Parachuters with their ParJar collection last week, Jason set up a collector’s group this week. If you have more than 30 of the coins/tokens listed on ParJar in your @parjar_bot collection already, send Jason a PM and he will get you in. Victor hosted a “Big Trivia” in TTR this week for 6300 $PAR in prizes. Afful held a quiz in Tiproom on “General Knowledge” as well. Check out these wicked new shorts in the Parachute Store based on Jose’s gif.
Epic stuff, Jose! Haha
Nice haul from the Parachute Beer Exchange, CF! Markus did you a solid
Boldman Stachs pointed out that $PAR had the highest Galaxy Score on social media analytics platform LunarCRUSH this week. Pretty neat! CF took note. And like Cap mentioned, it has mostly been thanks to him. Haha. And big up to Jesús (@JALBARRAN02) for making a ParJar guide video for our Spanish crew. You rock! Interesting results from the DeFi survey: majority of crypto folks are still DeFi-curious. A new community vote was thrown open for listing the next DeFi token on ParJar. Anyone who's been around a bit already knows that Clinton does some amazing work at his charity, For Living Independence, which creates assistive technology for disabled individuals. This week he shared some snaps of a build which now enables a lady in a wheelchair get upstairs in her home.
This is so wholesome, Clinton! Thank you for doing what you do.
28 Aug – 3 Sep'20:
ParJar was featured in Altcoin Buzz’s latest video. Noice! Click here and here to read some recent updates from Cap. After winning last week’s vote, Akropolis ($AKRO) became the latest token to be listed on ParJar. Woot! bZx crew gave some serious competition too. So we had to get them on ParJar as well. $BZRX was listed this week right after $AKRO. $PAR now has 7k on-chain HODLers. Saweet! Sentivate will be our first partner project to have a Social Liquidity Pool on ParJar. This is amazing! Time for another community vote to get a new project listed on ParJar – this time it is DeFi Pie v/s Ren v/s Proxi DeFi v/s Others. If you’ve missed all the latest Parachute-related videos, we have your back. Check this tweet thread to catch up. Naj hosted a Saturday Tiproom Trivia for 6300 $PAR in prizes. Congratulations to Maria for winning the latest Parena. 8k $PAR in the bag. Woohoo! And congo rats to Yanni as well for winning a special edition shirt from the Parachute store. Gamer Boy’s Big Trivia in TTR saw a ton of participation as always. The Parachute Fantasy Football contest is back! Chris set up the entry rules this week.
CF has done wonders for Parachute’s social metrics: “..+500% in our fi(r)st marketing month..”
Whew, what a month! And with that we close for August 2020 @ Parachute/ParJar. See you again with one more epic monthly update tomorrow. Cheerio!
submitted by abhijoysarkar to ParachuteToken [link] [comments]

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Great Reddit Scaling Bake-Off Public Proposal

Dragonchain Public Proposal TL;DR:

Dragonchain has demonstrated twice Reddit’s entire total daily volume (votes, comments, and posts per Reddit 2019 Year in Review) in a 24-hour demo on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. At the time, in January 2020, the entire cost of the demo was approximately $25K on a single system (transaction fees locked at $0.0001/txn). With current fees (lowest fee $0.0000025/txn), this would cost as little as $625.
Watch Joe walk through the entire proposal and answer questions on YouTube.
This proposal is also available on the Dragonchain blog.

Hello Reddit and Ethereum community!

I’m Joe Roets, Founder & CEO of Dragonchain. When the team and I first heard about The Great Reddit Scaling Bake-Off we were intrigued. We believe we have the solutions Reddit seeks for its community points system and we have them at scale.
For your consideration, we have submitted our proposal below. The team at Dragonchain and I welcome and look forward to your technical questions, philosophical feedback, and fair criticism, to build a scaling solution for Reddit that will empower its users. Because our architecture is unlike other blockchain platforms out there today, we expect to receive many questions while people try to grasp our project. I will answer all questions here in this thread on Reddit, and I've answered some questions in the stream on YouTube.
We have seen good discussions so far in the competition. We hope that Reddit’s scaling solution will emerge from The Great Reddit Scaling Bake-Off and that Reddit will have great success with the implementation.

Executive summary

Dragonchain is a robust open source hybrid blockchain platform that has proven to withstand the passing of time since our inception in 2014. We have continued to evolve to harness the scalability of private nodes, yet take full advantage of the security of public decentralized networks, like Ethereum. We have a live, operational, and fully functional Interchain network integrating Bitcoin, Ethereum, Ethereum Classic, and ~700 independent Dragonchain nodes. Every transaction is secured to Ethereum, Bitcoin, and Ethereum Classic. Transactions are immediately usable on chain, and the first decentralization is seen within 20 seconds on Dragon Net. Security increases further to public networks ETH, BTC, and ETC within 10 minutes to 2 hours. Smart contracts can be written in any executable language, offering full freedom to existing developers. We invite any developer to watch the demo, play with our SDK’s, review open source code, and to help us move forward. Dragonchain specializes in scalable loyalty & rewards solutions and has built a decentralized social network on chain, with very affordable transaction costs. This experience can be combined with the insights Reddit and the Ethereum community have gained in the past couple of months to roll out the solution at a rapid pace.

Response and PoC

In The Great Reddit Scaling Bake-Off post, Reddit has asked for a series of demonstrations, requirements, and other considerations. In this section, we will attempt to answer all of these requests.

Live Demo

A live proof of concept showing hundreds of thousands of transactions
On Jan 7, 2020, Dragonchain hosted a 24-hour live demonstration during which a quarter of a billion (250 million+) transactions executed fully on an operational network. Every single transaction on Dragonchain is decentralized immediately through 5 levels of Dragon Net, and then secured with combined proof on Bitcoin, Ethereum, Ethereum Classic, and Binance Chain, via Interchain. This means that every single transaction is secured by, and traceable to these networks. An attack on this system would require a simultaneous attack on all of the Interchained networks.
24 hours in 4 minutes (YouTube):
24 hours in 4 minutes
The demonstration was of a single business system, and any user is able to scale this further, by running multiple systems simultaneously. Our goals for the event were to demonstrate a consistent capacity greater than that of Visa over an extended time period.
Tooling to reproduce our demo is available here:
https://github.com/dragonchain/spirit-bomb

Source Code

Source code (for on & off-chain components as well tooling used for the PoC). The source code does not have to be shared publicly, but if Reddit decides to use a particular solution it will need to be shared with Reddit at some point.

Scaling

How it works & scales

Architectural Scaling

Dragonchain’s architecture attacks the scalability issue from multiple angles. Dragonchain is a hybrid blockchain platform, wherein every transaction is protected on a business node to the requirements of that business or purpose. A business node may be held completely private or may be exposed or replicated to any level of exposure desired.
Every node has its own blockchain and is independently scalable. Dragonchain established Context Based Verification as its consensus model. Every transaction is immediately usable on a trust basis, and in time is provable to an increasing level of decentralized consensus. A transaction will have a level of decentralization to independently owned and deployed Dragonchain nodes (~700 nodes) within seconds, and full decentralization to BTC and ETH within minutes or hours. Level 5 nodes (Interchain nodes) function to secure all transactions to public or otherwise external chains such as Bitcoin and Ethereum. These nodes scale the system by aggregating multiple blocks into a single Interchain transaction on a cadence. This timing is configurable based upon average fees for each respective chain. For detailed information about Dragonchain’s architecture, and Context Based Verification, please refer to the Dragonchain Architecture Document.

Economic Scaling

An interesting feature of Dragonchain’s network consensus is its economics and scarcity model. Since Dragon Net nodes (L2-L4) are independent staking nodes, deployment to cloud platforms would allow any of these nodes to scale to take on a large percentage of the verification work. This is great for scalability, but not good for the economy, because there is no scarcity, and pricing would develop a downward spiral and result in fewer verification nodes. For this reason, Dragonchain uses TIME as scarcity.
TIME is calculated as the number of Dragons held, multiplied by the number of days held. TIME influences the user’s access to features within the Dragonchain ecosystem. It takes into account both the Dragon balance and length of time each Dragon is held. TIME is staked by users against every verification node and dictates how much of the transaction fees are awarded to each participating node for every block.
TIME also dictates the transaction fee itself for the business node. TIME is staked against a business node to set a deterministic transaction fee level (see transaction fee table below in Cost section). This is very interesting in a discussion about scaling because it guarantees independence for business implementation. No matter how much traffic appears on the entire network, a business is guaranteed to not see an increased transaction fee rate.

Scaled Deployment

Dragonchain uses Docker and Kubernetes to allow the use of best practices traditional system scaling. Dragonchain offers managed nodes with an easy to use web based console interface. The user may also deploy a Dragonchain node within their own datacenter or favorite cloud platform. Users have deployed Dragonchain nodes on-prem on Amazon AWS, Google Cloud, MS Azure, and other hosting platforms around the world. Any executable code, anything you can write, can be written into a smart contract. This flexibility is what allows us to say that developers with no blockchain experience can use any code language to access the benefits of blockchain. Customers have used NodeJS, Python, Java, and even BASH shell script to write smart contracts on Dragonchain.
With Docker containers, we achieve better separation of concerns, faster deployment, higher reliability, and lower response times.
We chose Kubernetes for its self-healing features, ability to run multiple services on one server, and its large and thriving development community. It is resilient, scalable, and automated. OpenFaaS allows us to package smart contracts as Docker images for easy deployment.
Contract deployment time is now bounded only by the size of the Docker image being deployed but remains fast even for reasonably large images. We also take advantage of Docker’s flexibility and its ability to support any language that can run on x86 architecture. Any image, public or private, can be run as a smart contract using Dragonchain.

Flexibility in Scaling

Dragonchain’s architecture considers interoperability and integration as key features. From inception, we had a goal to increase adoption via integration with real business use cases and traditional systems.
We envision the ability for Reddit, in the future, to be able to integrate alternate content storage platforms or other financial services along with the token.
  • LBRY - To allow users to deploy content natively to LBRY
  • MakerDAO to allow users to lend small amounts backed by their Reddit community points.
  • STORJ/SIA to allow decentralized on chain storage of portions of content. These integrations or any other are relatively easy to integrate on Dragonchain with an Interchain implementation.

Cost

Cost estimates (on-chain and off-chain) For the purpose of this proposal, we assume that all transactions are on chain (posts, replies, and votes).
On the Dragonchain network, transaction costs are deterministic/predictable. By staking TIME on the business node (as described above) Reddit can reduce transaction costs to as low as $0.0000025 per transaction.
Dragonchain Fees Table

Getting Started

How to run it
Building on Dragonchain is simple and requires no blockchain experience. Spin up a business node (L1) in our managed environment (AWS), run it in your own cloud environment, or on-prem in your own datacenter. Clear documentation will walk you through the steps of spinning up your first Dragonchain Level 1 Business node.
Getting started is easy...
  1. Download Dragonchain’s dctl
  2. Input three commands into a terminal
  3. Build an image
  4. Run it
More information can be found in our Get started documents.

Architecture
Dragonchain is an open source hybrid platform. Through Dragon Net, each chain combines the power of a public blockchain (like Ethereum) with the privacy of a private blockchain.
Dragonchain organizes its network into five separate levels. A Level 1, or business node, is a totally private blockchain only accessible through the use of public/private keypairs. All business logic, including smart contracts, can be executed on this node directly and added to the chain.
After creating a block, the Level 1 business node broadcasts a version stripped of sensitive private data to Dragon Net. Three Level 2 Validating nodes validate the transaction based on guidelines determined from the business. A Level 3 Diversity node checks that the level 2 nodes are from a diverse array of locations. A Level 4 Notary node, hosted by a KYC partner, then signs the validation record received from the Level 3 node. The transaction hash is ledgered to the Level 5 public chain to take advantage of the hash power of massive public networks.
Dragon Net can be thought of as a “blockchain of blockchains”, where every level is a complete private blockchain. Because an L1 can send to multiple nodes on a single level, proof of existence is distributed among many places in the network. Eventually, proof of existence reaches level 5 and is published on a public network.

API Documentation

APIs (on chain & off)

SDK Source

Nobody’s Perfect

Known issues or tradeoffs
  • Dragonchain is open source and even though the platform is easy enough for developers to code in any language they are comfortable with, we do not have so large a developer community as Ethereum. We would like to see the Ethereum developer community (and any other communities) become familiar with our SDK’s, our solutions, and our platform, to unlock the full potential of our Ethereum Interchain. Long ago we decided to prioritize both Bitcoin and Ethereum Interchains. We envision an ecosystem that encompasses different projects to give developers the ability to take full advantage of all the opportunities blockchain offers to create decentralized solutions not only for Reddit but for all of our current platforms and systems. We believe that together we will take the adoption of blockchain further. We currently have additional Interchain with Ethereum Classic. We look forward to Interchain with other blockchains in the future. We invite all blockchains projects who believe in decentralization and security to Interchain with Dragonchain.
  • While we only have 700 nodes compared to 8,000 Ethereum and 10,000 Bitcoin nodes. We harness those 18,000 nodes to scale to extremely high levels of security. See Dragonchain metrics.
  • Some may consider the centralization of Dragonchain’s business nodes as an issue at first glance, however, the model is by design to protect business data. We do not consider this a drawback as these nodes can make any, none, or all data public. Depending upon the implementation, every subreddit could have control of its own business node, for potential business and enterprise offerings, bringing new alternative revenue streams to Reddit.

Costs and resources

Summary of cost & resource information for both on-chain & off-chain components used in the PoC, as well as cost & resource estimates for further scaling. If your PoC is not on mainnet, make note of any mainnet caveats (such as congestion issues).
Every transaction on the PoC system had a transaction fee of $0.0001 (one-hundredth of a cent USD). At 256MM transactions, the demo cost $25,600. With current operational fees, the same demonstration would cost $640 USD.
For the demonstration, to achieve throughput to mimic a worldwide payments network, we modeled several clients in AWS and 4-5 business nodes to handle the traffic. The business nodes were tuned to handle higher throughput by adjusting memory and machine footprint on AWS. This flexibility is valuable to implementing a system such as envisioned by Reddit. Given that Reddit’s daily traffic (posts, replies, and votes) is less than half that of our demo, we would expect that the entire Reddit system could be handled on 2-5 business nodes using right-sized containers on AWS or similar environments.
Verification was accomplished on the operational Dragon Net network with over 700 independently owned verification nodes running around the world at no cost to the business other than paid transaction fees.

Requirements

Scaling

This PoC should scale to the numbers below with minimal costs (both on & off-chain). There should also be a clear path to supporting hundreds of millions of users.
Over a 5 day period, your scaling PoC should be able to handle:
*100,000 point claims (minting & distributing points) *25,000 subscriptions *75,000 one-off points burning *100,000 transfers
During Dragonchain’s 24 hour demo, the above required numbers were reached within the first few minutes.
Reddit’s total activity is 9000% more than Ethereum’s total transaction level. Even if you do not include votes, it is still 700% more than Ethereum’s current volume. Dragonchain has demonstrated that it can handle 250 million transactions a day, and it’s architecture allows for multiple systems to work at that level simultaneously. In our PoC, we demonstrate double the full capacity of Reddit, and every transaction was proven all the way to Bitcoin and Ethereum.
Reddit Scaling on Ethereum

Decentralization

Solutions should not depend on any single third-party provider. We prefer solutions that do not depend on specific entities such as Reddit or another provider, and solutions with no single point of control or failure in off-chain components but recognize there are numerous trade-offs to consider
Dragonchain’s architecture calls for a hybrid approach. Private business nodes hold the sensitive data while the validation and verification of transactions for the business are decentralized within seconds and secured to public blockchains within 10 minutes to 2 hours. Nodes could potentially be controlled by owners of individual subreddits for more organic decentralization.
  • Billing is currently centralized - there is a path to federation and decentralization of a scaled billing solution.
  • Operational multi-cloud
  • Operational on-premises capabilities
  • Operational deployment to any datacenter
  • Over 700 independent Community Verification Nodes with proof of ownership
  • Operational Interchain (Interoperable to Bitcoin, Ethereum, and Ethereum Classic, open to more)

Usability Scaling solutions should have a simple end user experience.

Users shouldn't have to maintain any extra state/proofs, regularly monitor activity, keep track of extra keys, or sign anything other than their normal transactions
Dragonchain and its customers have demonstrated extraordinary usability as a feature in many applications, where users do not need to know that the system is backed by a live blockchain. Lyceum is one of these examples, where the progress of academy courses is being tracked, and successful completion of courses is rewarded with certificates on chain. Our @Save_The_Tweet bot is popular on Twitter. When used with one of the following hashtags - #please, #blockchain, #ThankYou, or #eternalize the tweet is saved through Eternal to multiple blockchains. A proof report is available for future reference. Other examples in use are DEN, our decentralized social media platform, and our console, where users can track their node rewards, view their TIME, and operate a business node.
Examples:

Transactions complete in a reasonable amount of time (seconds or minutes, not hours or days)
All transactions are immediately usable on chain by the system. A transaction begins the path to decentralization at the conclusion of a 5-second block when it gets distributed across 5 separate community run nodes. Full decentralization occurs within 10 minutes to 2 hours depending on which interchain (Bitcoin, Ethereum, or Ethereum Classic) the transaction hits first. Within approximately 2 hours, the combined hash power of all interchained blockchains secures the transaction.

Free to use for end users (no gas fees, or fixed/minimal fees that Reddit can pay on their behalf)
With transaction pricing as low as $0.0000025 per transaction, it may be considered reasonable for Reddit to cover transaction fees for users.
All of Reddit's Transactions on Blockchain (month)
Community points can be earned by users and distributed directly to their Reddit account in batch (as per Reddit minting plan), and allow users to withdraw rewards to their Ethereum wallet whenever they wish. Withdrawal fees can be paid by either user or Reddit. This model has been operating inside the Dragonchain system since 2018, and many security and financial compliance features can be optionally added. We feel that this capability greatly enhances user experience because it is seamless to a regular user without cryptocurrency experience, yet flexible to a tech savvy user. With regard to currency or token transactions, these would occur on the Reddit network, verified to BTC and ETH. These transactions would incur the $0.0000025 transaction fee. To estimate this fee we use the monthly active Reddit users statista with a 60% adoption rate and an estimated 10 transactions per month average resulting in an approximate $720 cost across the system. Reddit could feasibly incur all associated internal network charges (mining/minting, transfer, burn) as these are very low and controllable fees.
Reddit Internal Token Transaction Fees

Reddit Ethereum Token Transaction Fees
When we consider further the Ethereum fees that might be incurred, we have a few choices for a solution.
  1. Offload all Ethereum transaction fees (user withdrawals) to interested users as they wish to withdraw tokens for external use or sale.
  2. Cover Ethereum transaction fees by aggregating them on a timed schedule. Users would request withdrawal (from Reddit or individual subreddits), and they would be transacted on the Ethereum network every hour (or some other schedule).
  3. In a combination of the above, customers could cover aggregated fees.
  4. Integrate with alternate Ethereum roll up solutions or other proposals to aggregate minting and distribution transactions onto Ethereum.

Bonus Points

Users should be able to view their balances & transactions via a blockchain explorer-style interface
From interfaces for users who have no knowledge of blockchain technology to users who are well versed in blockchain terms such as those present in a typical block explorer, a system powered by Dragonchain has flexibility on how to provide balances and transaction data to users. Transactions can be made viewable in an Eternal Proof Report, which displays raw data along with TIME staking information and traceability all the way to Bitcoin, Ethereum, and every other Interchained network. The report shows fields such as transaction ID, timestamp, block ID, multiple verifications, and Interchain proof. See example here.
Node payouts within the Dragonchain console are listed in chronological order and can be further seen in either Dragons or USD. See example here.
In our social media platform, Dragon Den, users can see, in real-time, their NRG and MTR balances. See example here.
A new influencer app powered by Dragonchain, Raiinmaker, breaks down data into a user friendly interface that shows coin portfolio, redeemed rewards, and social scores per campaign. See example here.

Exiting is fast & simple
Withdrawing funds on Dragonchain’s console requires three clicks, however, withdrawal scenarios with more enhanced security features per Reddit’s discretion are obtainable.

Interoperability Compatibility with third party apps (wallets/contracts/etc) is necessary.
Proven interoperability at scale that surpasses the required specifications. Our entire platform consists of interoperable blockchains connected to each other and traditional systems. APIs are well documented. Third party permissions are possible with a simple smart contract without the end user being aware. No need to learn any specialized proprietary language. Any code base (not subsets) is usable within a Docker container. Interoperable with any blockchain or traditional APIs. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js. Please see our source code and API documentation.

Scaling solutions should be extensible and allow third parties to build on top of it Open source and extensible
APIs should be well documented and stable

Documentation should be clear and complete
For full documentation, explore our docs, SDK’s, Github repo’s, architecture documents, original Disney documentation, and other links or resources provided in this proposal.

Third-party permissionless integrations should be possible & straightforward Smart contracts are Docker based, can be written in any language, use full language (not subsets), and can therefore be integrated with any system including traditional system APIs. Simple is better. Learning an uncommon or proprietary language should not be necessary.
Advanced knowledge of mathematics, cryptography, or L2 scaling should not be required. Compatibility with common utilities & toolchains is expected.
Dragonchain business nodes and smart contracts leverage Docker to allow the use of literally any language or executable code. No proprietary language is necessary. We’ve witnessed relatively complex systems built by engineers with no blockchain or cryptocurrency experience. We’ve also demonstrated the creation of smart contracts within minutes built with BASH shell and Node.js.

Bonus

Bonus Points: Show us how it works. Do you have an idea for a cool new use case for Community Points? Build it!

TIME

Community points could be awarded to Reddit users based upon TIME too, whereas the longer someone is part of a subreddit, the more community points someone naturally gained, even if not actively commenting or sharing new posts. A daily login could be required for these community points to be credited. This grants awards to readers too and incentivizes readers to create an account on Reddit if they browse the website often. This concept could also be leveraged to provide some level of reputation based upon duration and consistency of contribution to a community subreddit.

Dragon Den

Dragonchain has already built a social media platform that harnesses community involvement. Dragon Den is a decentralized community built on the Dragonchain blockchain platform. Dragon Den is Dragonchain’s answer to fake news, trolling, and censorship. It incentivizes the creation and evaluation of quality content within communities. It could be described as being a shareholder of a subreddit or Reddit in its entirety. The more your subreddit is thriving, the more rewarding it will be. Den is currently in a public beta and in active development, though the real token economy is not live yet. There are different tokens for various purposes. Two tokens are Lair Ownership Rights (LOR) and Lair Ownership Tokens (LOT). LOT is a non-fungible token for ownership of a specific Lair. LOT will only be created and converted from LOR.
Energy (NRG) and Matter (MTR) work jointly. Your MTR determines how much NRG you receive in a 24-hour period. Providing quality content, or evaluating content will earn MTR.

Security. Users have full ownership & control of their points.
All community points awarded based upon any type of activity or gift, are secured and provable to all Interchain networks (currently BTC, ETH, ETC). Users are free to spend and withdraw their points as they please, depending on the features Reddit wants to bring into production.

Balances and transactions cannot be forged, manipulated, or blocked by Reddit or anyone else
Users can withdraw their balance to their ERC20 wallet, directly through Reddit. Reddit can cover the fees on their behalf, or the user covers this with a portion of their balance.

Users should own their points and be able to get on-chain ERC20 tokens without permission from anyone else
Through our console users can withdraw their ERC20 rewards. This can be achieved on Reddit too. Here is a walkthrough of our console, though this does not show the quick withdrawal functionality, a user can withdraw at any time. https://www.youtube.com/watch?v=aNlTMxnfVHw

Points should be recoverable to on-chain ERC20 tokens even if all third-parties involved go offline
If necessary, signed transactions from the Reddit system (e.g. Reddit + Subreddit) can be sent to the Ethereum smart contract for minting.

A public, third-party review attesting to the soundness of the design should be available
To our knowledge, at least two large corporations, including a top 3 accounting firm, have conducted positive reviews. These reviews have never been made public, as Dragonchain did not pay or contract for these studies to be released.

Bonus points
Public, third-party implementation review available or in progress
See above

Compatibility with HSMs & hardware wallets
For the purpose of this proposal, all tokenization would be on the Ethereum network using standard token contracts and as such, would be able to leverage all hardware wallet and Ethereum ecosystem services.

Other Considerations

Minting/distributing tokens is not performed by Reddit directly
This operation can be automated by smart contract on Ethereum. Subreddits can if desired have a role to play.

One off point burning, as well as recurring, non-interactive point burning (for subreddit memberships) should be possible and scalable
This is possible and scalable with interaction between Dragonchain Reddit system and Ethereum token contract(s).

Fully open-source solutions are strongly preferred
Dragonchain is fully open source (see section on Disney release after conclusion).

Conclusion

Whether it is today, or in the future, we would like to work together to bring secure flexibility to the highest standards. It is our hope to be considered by Ethereum, Reddit, and other integrative solutions so we may further discuss the possibilities of implementation. In our public demonstration, 256 million transactions were handled in our operational network on chain in 24 hours, for the low cost of $25K, which if run today would cost $625. Dragonchain’s interoperable foundation provides the atmosphere necessary to implement a frictionless community points system. Thank you for your consideration of our proposal. We look forward to working with the community to make something great!

Disney Releases Blockchain Platform as Open Source

The team at Disney created the Disney Private Blockchain Platform. The system was a hybrid interoperable blockchain platform for ledgering and smart contract development geared toward solving problems with blockchain adoption and usability. All objective evaluation would consider the team’s output a success. We released a list of use cases that we explored in some capacity at Disney, and our input on blockchain standardization as part of our participation in the W3C Blockchain Community Group.
https://lists.w3.org/Archives/Public/public-blockchain/2016May/0052.html

Open Source

In 2016, Roets proposed to release the platform as open source to spread the technology outside of Disney, as others within the W3C group were interested in the solutions that had been created inside of Disney.
Following a long process, step by step, the team met requirements for release. Among the requirements, the team had to:
  • Obtain VP support and approval for the release
  • Verify ownership of the software to be released
  • Verify that no proprietary content would be released
  • Convince the organization that there was a value to the open source community
  • Convince the organization that there was a value to Disney
  • Offer the plan for ongoing maintenance of the project outside of Disney
  • Itemize competing projects
  • Verify no conflict of interest
  • Preferred license
  • Change the project name to not use the name Disney, any Disney character, or any other associated IP - proposed Dragonchain - approved
  • Obtain legal approval
  • Approval from corporate, parks, and other business units
  • Approval from multiple Disney patent groups Copyright holder defined by Disney (Disney Connected and Advanced Technologies)
  • Trademark searches conducted for the selected name Dragonchain
  • Obtain IT security approval
  • Manual review of OSS components conducted
  • OWASP Dependency and Vulnerability Check Conducted
  • Obtain technical (software) approval
  • Offer management, process, and financial plans for the maintenance of the project.
  • Meet list of items to be addressed before release
  • Remove all Disney project references and scripts
  • Create a public distribution list for email communications
  • Remove Roets’ direct and internal contact information
  • Create public Slack channel and move from Disney slack channels
  • Create proper labels for issue tracking
  • Rename internal private Github repository
  • Add informative description to Github page
  • Expand README.md with more specific information
  • Add information beyond current “Blockchains are Magic”
  • Add getting started sections and info on cloning/forking the project
  • Add installation details
  • Add uninstall process
  • Add unit, functional, and integration test information
  • Detail how to contribute and get involved
  • Describe the git workflow that the project will use
  • Move to public, non-Disney git repository (Github or Bitbucket)
  • Obtain Disney Open Source Committee approval for release
On top of meeting the above criteria, as part of the process, the maintainer of the project had to receive the codebase on their own personal email and create accounts for maintenance (e.g. Github) with non-Disney accounts. Given the fact that the project spanned multiple business units, Roets was individually responsible for its ongoing maintenance. Because of this, he proposed in the open source application to create a non-profit organization to hold the IP and maintain the project. This was approved by Disney.
The Disney Open Source Committee approved the application known as OSSRELEASE-10, and the code was released on October 2, 2016. Disney decided to not issue a press release.
Original OSSRELASE-10 document

Dragonchain Foundation

The Dragonchain Foundation was created on January 17, 2017. https://den.social/l/Dragonchain/24130078352e485d96d2125082151cf0/dragonchain-and-disney/
submitted by j0j0r0 to ethereum [link] [comments]

Información en DASH : Estrategia elemental para cronificar SIN CURAR una jerarquía ponzi y sus parásitos.

u / dnale0r u / dashcrypto u / DashUncensored
It is not possible to add posts about censorship suffered in the thread anchored at the beginning of this reddit and it is important so that the open files do not sink to the bottom of the list. If you still come to this reddit, please open it.____________________________________________________________________________________________________
Information in DASH: Elemental strategy to chronify WITHOUT CURING a ponzi hierarchy and its parasites. ( Development of the facts and presentation / monitoring of the corruption of the Valenzuela parasite and the repressive, intoxicating and corrupt strategy of the kidnapping elite of a deeply corrupt project )

With no prior breach of rules, I was banned by Valenzuela on the Dast Talk discord (probably the most unworthy parasite on DASH's infographic distortion channels - whose only contribution to the project and the reason for their alms is the information intoxication of the existing supporters to hide the endless defaults and incapacities of the project managers ... and the deception of new users / capital contributors to parasitize through the extractive structure by DASH-) for quoting a video of his (in the line of ignorance, cosmetic propaganda and habitual vacuity ) of an irrelevant interview with two inhabitants of the Ponzi (of absolutely empty perspectives too). Anyway ... an hour of topics, inaccuracies and brain death live ... nothing new.

As the manipulation of the censoring cockroach Valenzuela is so evident - And as here I will not refer to the census rules of the official channels of the project nor do I need to save the forms to show a respect that I lack for the legion of parasites that, installed ponzi created, expand the metastasis of crap and repression that allows the entire cascade of incapable bummers to continue sucking) I copy and paste ALL the crossing of the message clarifier:

Purpelado12 / 10/2020

https://odysee.com/@DigitalCashNetwork:c/Dash-Podcast-156:5?r=FqowB2QREmrBV4DcLpAWb8cz2K4gYVUV
u/TheDesertLynx ... when you make economic references ... (and I mean both these and the rest of your past expositions on economic aspects of DASH) ... are you really convinced of what you say?

The whole interview is a succession of (let's be nice and not say "manipulations") glaring inaccuracies. But as a sign of DASH's wacky economic approach, it works.


TheDesertLynx12 / 10/2020
u/Purpelado do not mention or address me again, this will be considered harassment. Thank you \*

Purpelado12 / 10/2020
And that in what libertarian code is it written?

There is nothing to consider personally beyond some analyzable approaches like any other. (for my part, of course). *\*

bigrcanada12 / 10/2020
Thank god i can't understand his English. **\*

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> 5 days later, the kindergarten guru (or a neighborhood tavern full of hicks more ignorant than he himself still) uploads another of his "existential illuminations" (in his line of obviousness and emptiness "signature mark")

TheDesertLynx 17/10/2020
There's a few @ p5yc071c it depends which one because there's two
I made this to explore some of the bigger adoption issues we face:
https://odysee.com/@DigitalCashNetwork:c/Adoption:3?r=FqowB2QREmrBV4DcLpAWb8cz2K4gYVUV
Odysee
The REAL Reasons Cryptocurrency Adoption Hasn't Happened
! [image] (https://thumbs.spee.ch/view/2/72565375fff13b62.png)
Cryptocurrency has been around for over 10 years since Bitcoin's birth in 2009. But it still hasn't reached anything resembling mainstream ...

>>> Of course, disregarding his sly previous threats, I quote its ridiculous sermon, in direct contradiction to his previous (pseudo) historical theses, downplaying and ridiculing the need for stable resources in DASH.

Purpelado17 / 10/2020
u/TheDesertLynx ... volatility is an adoption problem? Now? (the first one you name) after a 96% wealth drain during which you have spread the message on DASH networks that stable coins "are a fad"? (A fashion that bills, only in one currency, as much daily money as BTC, ETH and Ripple together - and more than the rest of the united sector, thousands of projects -). How do you think that BTC has maintained reasonable volatility compared to all other projects, if not for Tether? (which is worth nothing less than the throne of the industry light years from the rest). Without Tether, Bitcoin would have fallen to 3 figures, like the rest ... and would be suffering a martyrdom to regain its lost status - like the rest of the relevant currencies ... and DASH especially -).

In order for the demand for DASH AS A MEANS OF PAYMENT, which is what you defend even by directly encouraging spending, to eliminate the volatility suffered by the currency, you do not need to go up in adoption, but to achieve a MONSTER adoption ( that is, subordinate a current problem, short-term, to a future and long-term solution ... and it is not necessary to clarify the asynchrony of that approach and its effects: Just look at the DASH price statement).

But DASH needs effective stable resources TODAY to mitigate its volatility and reaffirm itself as a store of value (and on top of that, create a progressive growth structure). As u/xcdc says, that is what users are looking for to entrust their money to a project: A SOLID asset.

Until that is resolved, this will be a destructive spiral of wealth ... even if the best technology for payments is available.

TheDesertLynx 17/10/2020
u/Purpelado do not mention me or address me again, this will be considered harassment. Thank you / (copypaste of its threat from days ago - "supposedly" loaded with reason for those who had not read it and seen the pure invention of "harassment")
u/TheDesertLynx Some people just don't learn: Facepalm:
Purpelado17 / 10/2020
By the way ... being a good means of payment and a good store of value ARE NOT EXCLUSIVE (an argument that continually underlies the monetary qualities of DASH).

BTC has sacrificed - to this day - qualities such as speed in exchange for being the "Gold" of the sector (an approach that is being very beneficial) ... but for sheer technical limitations.

However, DASH is technically prepared to address both challenges: the solution is strategic and therefore perfectly within reach.

bigrcanada at 5:54
Yeah ... FUCK! Like why is Purple Dick still on here too?!? Fuck fuck !!!!!!! ***\*
>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>
1- notes and clarifications
\* He accuses me of harassment when there are not even previous posts between him and me (in fact, it would be difficult to find a quote from me, looking back MONTHS ... probably and except by chance, there is not ... that is: NOTHING of harassment - I know that his censorious, ignorant and manipulative attitude fits easily into my IMPERSONAL AND GENERIC criticisms of the objectionable practices in DASH ... and I also know that "thedesertlynx / Valenzuela" is corrupt, cowardly and complex, with which, except Express mention of me, I will not give you excuses to express your cowardice and one-sided authoritarianism -)
*\* I expose your invention on a non-existent harassment.
**\* Thanks to a post that tries to ridicule me ... to which he adds a request for an automatic translation of the discord (it does not seek to expose a problem or harassment ... but to excuse the censorship he wants to execute on my posts, ridicule me and call for my harassment the group of trolls that systematically intoxicate the DASH Talk Discord)
***\* The group of trolls keeps harassing me (in text and thank you icons)

2- Links
1- Invention of infraction ... and threat of ban.
https://discord.com/channels/484546513507188745/484546513935269918/765205520347824128
2- Execution of ban
https://discord.com/channels/484546513507188745/484546513935269918/767040388505927730


submitted by Purpelado to DashUncensored [link] [comments]

Wandering From the Path? | Monthly Portfolio Update - August 2020

Midway along the journey of our life I woke to find myself in a dark wood, for I had wandered off from the straight path.
Dante, The Divine Comedy: Inferno, Canto I
This is my forty-fifth portfolio update. I complete this update monthly to check my progress against my goal.
Portfolio goal
My objective is to reach a portfolio of $2 180 000 by 1 July 2021. This would produce a real annual income of about $87 000 (in 2020 dollars).
This portfolio objective is based on an expected average real return of 3.99 per cent, or a nominal return of 6.49 per cent.
Portfolio summary
Total portfolio value $1 848 896 (+$48 777 or 2.7%)
Asset allocation
Presented visually, below is a high-level view of the current asset allocation of the portfolio.
[Chart]
Comments
The portfolio has increased in value for the fifth consecutive month, and is starting to approach the monthly value last reached in January.
The portfolio has grown over $48 000, or 2.7 per cent this month, reflecting the strong market recovery since late March
[Chart]
The growth in the portfolio was broadly-based across global and Australian equities, with an increase of around 3.8 per cent. Following strong previous rises, gold holdings decreased by around 2.2 per cent, while Bitcoin continued to increase in value (by 2.5 per cent).
Combined, the value of gold and Bitcoin holdings remain at a new peak, while total equity holdings are still below their late January peak to the tune of around $50 000. The fixed income holdings of the portfolio continue to fall below the target allocation.
[Chart]
The expanding value of gold and Bitcoin holdings since January last year have actually had the practical effect of driving new investments into equities, since effectively for each dollar of appreciation, for example, my target allocation to equities rises by seven dollars.
New investments this month have been in the Vanguard international shares exchange-traded fund (VGS) and the Australian shares equivalent (VAS). These have been directed to bring my actual asset allocation more closely in line with the target split between Australian and global shares set out in the portfolio plan.
As the exchange traded funds such as VGS, VAS and Betashares A200 now make up nearly 30 per cent of the overall portfolio, the quarterly payments they provide have increased in magnitude and importance. Early in the journey, third quarter distributions were essentially immaterial events.
Using the same 'median per unit' forecast approach as recently used for half yearly forecasts would suggest a third quarter payout due at the end of September of around $6000. Due to significant announced dividend reductions across this year I am, however, currently assuming this is likely to be significantly lower, and perhaps in the vicinity of $4000 or less.
Finding true north: approach to achieving a set asset allocation
One of the choices facing all investors with a preferred asset allocation is how strictly the target is applied over time, and what variability is acceptable around that. There is a significant body of financial literature around that issue.
My own approach has been to seek to target the preferred asset allocation dynamically, through buying the asset class that is furthest from its target, with new portfolio contributions, and re-investment of paid out distributions.
As part of monitoring asset allocation, I also track a measure of 'absolute' variance, to understand at a whole of portfolio level how far it is from the desired allocation.
This is the sum of the absolute value of variances (e.g. so that being 3 per cent under target in shares, and 7 per cent over target in fixed interest will equal an absolute variance of 10 per cent under this measure).
This measure is currently sitting near its highest level in around 2 years, at 15.0 per cent, as can be seen in the chart below.
[Chart]
The dominant reason for this higher level of variance from target is significant appreciation in the price of gold and Bitcoin holdings.
Mapping the sources of portfolio variances
Changes in target allocations in the past makes direct comparisons problematic, but previous peaks of the variance measure matches almost perfectly past Bitcoin price movements.
For a brief period in January 2018, gold and Bitcoin combined constituted 20 per cent, or 1 in 5 dollars of the entire portfolio. Due to the growth in other equity components of the portfolio since this level has not been subsequently exceeded.
Nonetheless, it is instructive to understand that the dollar value of combined gold and Bitcoin holdings is actually up around $40 000 from that brief peak. With the larger portfolio, this now means they together make up 17.2 per cent of the total portfolio value.
Tacking into the wind of portfolio movements?
The logical question to fall out from this situation is: to what extent should this drive an active choice to sell down gold and Bitcoin until they resume their 10 per cent target allocation?
This would currently imply selling around $130 000 of gold or Bitcoin, and generating a capital gains tax liability of potentially up to $27 000. Needless to say this is not an attractive proposition. Several other considerations lead me to not make this choice:
This approach is a departure from a mechanistic implementation of an asset allocation rule. Rather, the approach I take is pragmatic.
Tracking course drift in the portfolio components
As an example, I regularly review whether a significant fall in Bitcoin prices to its recent lows would alter my monthly decision on where to direct new investments. So far it does not, and the 'signal' continues to be to buy new equities.
Another tool I use is a monthly measurement of the absolute dollar variance of Australian and global shares, as well as fixed interest, from their ideal target allocations.
The chart below sets this out for the period since January 2019. A positive value effectively represents an over-allocation to a sector, a negative value, an under-allocation compared to target.
[Chart]
This reinforces the overall story that, as gold and Bitcoin have grown in value, there emerges a larger 'deficit' to the target. Falls in equities markets across February and March also produce visibly larger 'dollar gaps' to the target allocation.
This graph enables a tracking of the impact of portfolio gains or losses, and volatility, and a better understanding of the practical task of returning to target allocations. Runaway lines in either direction would be evidence that current approaches for returning to targets were unworkable, but so far this does not appear to be the case.
A crossing over: a credit card FI milestone
This month has seen a long awaited milestone reached.
Calculated on a past three year average, portfolio distributions now entirely meet monthly credit card expenses. This means that every credit card purchase - each shopping trip or online purchase - is effectively paid for by average portfolio distributions.
At the start of this journey, distributions were only equivalent to around 40 per cent of credit card expenses. As time has progressed distributions have increased to cover a larger and larger proportion of card expenses.
[Chart]
Most recently, with COVID-19 related restrictions having pushed card expenditure down further, the remaining gap to this 'Credit Card FI' target has closed.
Looked at on an un-smoothed basis, expenditures on the credit card have continued to be slightly lower than average across the past month. The below chart details the extent to which portfolio distributions (red) cover estimated total expenses (green), measured month to month.
[Chart]
Credit card expenditure makes up around 80 per cent of total spending, so this is not a milestone that makes paid work irrelevant or optional. Similarly, if spending rises as various travel and other restrictions ease, it is possible that this position could be temporary.
Equally, should distributions fall dramatically below long term averages in the year ahead, this could result in average distributions falling faster than average monthly card expenditure. Even without this, on a three year average basis, monthly distributions will decline as high distributions received in the second half of 2017 slowly fall out of the estimation sample.
For the moment, however, a slim margin exists. Distributions are $13 per month above average monthly credit card bills. This feels like a substantial achievement to note, as one unlooked for at the outset of the journey.
Progress
Progress against the objective, and the additional measures I have reached is set out below.
Measure Portfolio All Assets
Portfolio objective – $2 180 000 (or $87 000 pa) 84.8% 114.6%
Credit card purchases – $71 000 pa 103.5% 139.9%
Total expenses – $89 000 pa 82.9% 112.1%
Summary
What feels like a long winter is just passed. The cold days and weeks have felt repetitive and dominated by a pervasive sense of uncertainty. Yet through this time, this wandering off, the portfolio has moved quite steadily back towards it previous highs. That it is even approaching them in the course of just a few months is unexpected.
What this obscures is the different components of growth driving this outcome. The portfolio that is recovering, like the index it follows, is changing in its underlying composition. This can be seen most starkly in the high levels of variance from the target portfolio sought discussed above.
It is equally true, however, of individual components such as international equity holdings. In the case of the United States the overall index performance has been driven by share price growth in just a few information technology giants. Gold and Bitcoin have emerged from the shadows of the portfolio to an unintended leading role in portfolio growth since early 2019.
This month I have enjoyed reading the Chapter by Chapter release of the Aussie FIRE e-book coordinated by Pearler. I've also been reading posts from some newer Australian financial independence bloggers, Two to Fire, FIRE Down Under, and Chasing FIRE Down Under.
In podcasts, I have enjoyed the Mad Fientist's update on his fourth year of financial freedom, and Pat and Dave's FIRE and Chill episodes, including an excellent one on market timing fallacies.
The ASX Australian Investor Study 2020 has also been released - setting out some broader trends in recent Australian investment markets, and containing a snapshot of the holdings, approaches and views of everyday investors. This contained many intriguing findings, such as the median investment portfolio ($130 000), its most frequent components (direct Australian shares), and how frequently portfolios are usually checked - with 61 per cent of investors checking their portfolios at least once a month.
This is my own approach also. Monthly assessments allow me to gauge and reflect on how I or elements of the portfolio may have wandered off the straight way in the middle of the journey. Without this, the risk is that dark woods and bent pathways beckon.
The post, links and full charts can be seen here.
submitted by thefiexpl to fiaustralia [link] [comments]

Is Convergence the Future of DeFi? InfinityDefi Tells Who Will Dominate the Field

After more than two years of brewing, DeFi broke out in the summer of 2020. Within just three months from mid-June till present, the progress is dazzling. This is by far the most innovative stage in the cryptocurrency history. Liquidity mining and yield farming are extremely popular and the Ethereum gas fee skyrocketed on their backs. Meanwhile, some projects are forced to close due to the overly costly transaction fees they need to subsidize for users. What did classic DeFi projects do in the past six months?
Liquidity mining has been a recognized driver for DeFi. The model was originated by Synthetix on Curve to distribute SNX token incentives to users who provide liquidity for the sUSD pool. Synthetix is a synthetic asset generation and trading protocol, therefore, with no liquidity its synthetic assets are meaningless.
What is liquidity mining? It is depositing or lending tokens under a set of rules to a DeFi product with a mining mechanism to ensure liquidity for the product’s fund pool with the final aim to get rewards for it. The recently popular Compound does it. Compound is a DeFi protocol for collateralized lending on Ethereum. Users provide their tokens to get annualized income or pay interest to borrow tokens. While borrowing and lending, they earn the governance token COMP distributed by a smart contract.
Their token COMP serves for governance and reflects the business value. All borrowers and lenders on Compound earn COMP. The total number of tokens allocated for mining is 4,229,949. Lenders get one half and borrowers get the other half of it. When COMP price rises, the users’ motivation to deposit and borrow money is stronger.
YAM is the initiator of mining + forking. When AMPL came out, there were some imitators but none of them gained mass attention in the crypto community. The only exception is YAM. Why is YAM so attractive? It is a fork of AMPL with YFI‘s issuance mechanism that added a couple of new features such as a reserve and exploded.
YFI is the governance token on https://yearn.finance. It has no pre-mining, ICO, allocation for the team, or reserve for investment institutions. It adopts the online governance model and community decides on its development direction, which is quite fair. Due to its distribution method, YFI is even called the Bitcoin in DeFi.
https://yearn.finance automatically deposit stablecoins and mines liquidity on AAVE, Compound, dYdX, etc. It has a set of revenue tools like ytrade, yliquidate, yleverage, ypool, and smart contract pledge loans. https://yearn.finance aims to simplify the overly complex liquidity mining and automate the operations. It seeks the best profit strategy for asset holders and increases gas usage efficiency for small-scale miners. Even when Ethereum gas fee reached 100 gwei, the deposit and withdrawal fees were around 2 USD.
Sushiswap: The Trend Setter
DEX are the largest chunk of DeFi. The top three are Uniswap, Balancer, and Curve. More than a dozen of DEX has daily trading volume over $10 million. With the rising volume, DEX will be the competition for centralized exchanges (CEX) in the future.
Sushiswap pushes forking + mining. It is a fork of Uniswap with increased token distribution for mining that tried to pull the liquidity carpet from under Uniswap. It has mining pools for stablecoins like USDT, USDC, and DAI as well as Uniswap’s most liquid mainstream DeFi token pools. However, Sushiswap imitators lack originality. Various “food swaps” that appeared recently are bound to enter the death spiral.
Need aggregators? InfinityDefi (INFI) Is What You Need
In the Internet age, aggregators get the most value. Google aggregates the content of websites, Facebook does it with social relationships and content, Amazon with goods and trading, Airbnb with guest rooms, etc. These tech giants have subverted traditional industries and built a near-monopoly position.
Why are they close to monopoly? As more users, content, and products are aggregated, the cost drops and a network effect forms. The wall is high, but the one who crosses it takes all. The same is true for DeFi. It is just a technology on top of a financial arbitrage model, which is cyclic depositing and borrowing to earn interest.
DeFi is modular and trustless and aggregators take advantage of it. Liquidity mining, staking, lending, or DEX AMM are all essentially deposition of tokens to a storage pool to earn revenue. INFI (InfinityDefi) is an aggregate DeFi product, a decentralized digital bank as they call themselves. They are adding a vault with the best investment and value preservation services.
InfinityDefi is a dApp on Ethereum and a cross-chain, multi-currency system with multi-collateral backing. Its Polymerization Pool combines collateral and debts and integrates price feeding, auction, and autonomous management. Users pledge a variety of stablecoins and non-stablecoins to borrow funds. The Pool dynamically adjusts interest rates according to each currency’s ratio in it for higher stability. That is, when the pool is short of ETH, the interest rate earned by ETH pledgers rises.
The protocol is decentralized, transparent, and fair. Besides the standard collateral lending, InfinityDefi lenders can pledge their existing external collateral agreements to other users of the platform as collateral for new loans and better arbitrage. The new (secondary) lender owns the collateral debt. When the lender of the first collateralized loan has an urgent short-term capital demand, it can become a borrower with secondary collateral, sell its creditor’s rights, and get a loan bigger than the original collateral.
InfinityDefi provides secondary loans amounting to 10% of your primary collateral on other platforms. The model is still the traditional “give something as collateral and borrow,” while empowering users and providing more benefits.

Other incentives are equity tokens PPT issued for each loan and collateral (whether primary or secondary). PPT rewards increase with the size and duration of collateral. Conversion of PPT to INFI, the ecosystem token, is available. INFI holders participate in the project management and share the project’s financial risks for stability, transparency, and efficiency, and share profits of the entire ecosystem in return. The respective governance power is proportional to the number of INFI in the voter’s account. INFI aims for listing on major exchanges.
submitted by summerflyoo7 to CryptoMoonShots [link] [comments]

[WTS] Larger Lot of Gold/Platinum/Silver/Jewelry

Proof: https://imgur.com/a/7xQGIbC
All prices based on spot price of gold @ $1,970/oz , silver @ $24.25/oz, platinum @ $915/oz (7/31/20). Prices good with gold spot below $1990, silver below $25. I am not a coin grader. The condition of any coin listed is how it was listed when I acquired it. I will be more than happy to provide any detailed, unedited photos for any coin. Unless specifically mentioned, assume coins are in generally good condition. Noticeable defects potentially affecting the value will attempt to be noted. I try to price my items substantially below the lowest price I can find online from a national dealer. If you see a legitimate cheaper price, let me know and I may very well adjust my price. FYI, I am in Eastern time zone if I do not respond, may be sleeping.
PLATINUM LISTINGS
Proof: https://imgur.com/a/FcUg9BV

Physical platinum has been hard to come by and premiums have been high. Lucky to have these to list:
1 oz Argor-Heraeus Platinum Bars in assay x 10 9 8 — $990/ea (spot plus $75)


GOLD LISTINGS
Proof: https://imgur.com/a/bGofCRx

2009-W Ultra High Relief Proof St. Gauden 24K in OGP. Quite simply, this may be the coolest coin I have ever seen! — $2,250
1 oz slabbed American Gold Eagle 25th Anniversary Early Release, MS70 NGC (2011) — $2,150 (Note: slab has some scratches on it, the coin is fine)
1924 slabbed $20 St. Gaudens gold double eagle, MS63 PCGS — $2,050
1925 Slabbed $20 St. Gaudens gold double eagle, MS64 PCGS -- $2,275
1911-S Slabbed $20 St. Gaudens gold double eagle, MS63 Blanchard — $2,200
1910 Raw $20 St. Gauden gold double eagle — $2,025
$10 Gold Liberty Head x 2 (1894, 1899) — $1,010/ea
2018-W Slabbed First Strike PCGS MS70 American Gold Eagle — $2,175
Cleaned 1899 $5 Liberty head gold coin — $535
2002 slabbed Salt Lake City Olympics $5 gold commemorative, MS69 PCGS (0.2419 oz) — $485

Proof: https://imgur.com/a/bGofCRx

100gm (10x10) Valcambi Combicard in assay. Individually @ $73/ea x 100. I will risky ship up to 3 of these in an envelope for $1 @ buyer’s risk. It will not be tracked and I do not like doing it. Would prefer $4 bubble mailer, but buyer’s choice.
1 oz gold bars in assay [Valcambi x 2 1, Sunshine Mint, PAMP Religious Romanesque (Note: some peeling of clear cover for PAMP — pictures if desired)] — $2,030
1 oz Credit Suisse gold bar, in plastic but not assay — $2,030
Sterngold, 99.95%, used in making dental alloys, 1gm each x 30. This is a unique item not likely to be found in many collector’s stash. I will risky ship up to 3 of these in an envelope for $1 @ buyer’s risk. It will not be tracked and I do not like doing it. Would prefer $4 bubble mailer, but buyer’s choice— $71/ea

Proof: https://imgur.com/a/wa1mLWZ

1oz American Gold Eagle, BU (1989, Roman numerals) — $2,060
1oz American Gold Eagle (1986, Roman numerals) — $2060
1 oz gold Pandas (1987, 2011) — 1987 sealed, BU — $2,175 ; 2011, uncirculated — $2,250
1 oz Gold Apartheid era South African Krugerrands x 42 (1975 x 2, 1977, 1978, 1979 x 27, 1980, 1981 x 8, 1982, 1984) — $2,040/ea
1 oz Gold American Buffalos (2016 x 1, 2006 x 2) [NOTE: both 2006 have a slight ding on the rim. Sealed in plastic, not ex-jewelry, but slight ding. Photos if desired)] — $2,070 for 2016, $2,065/ea for 2006’s with ding
1 oz Gold Brittania, BU (2020) — $2,065
1 oz unique Canada Golden Eagle, BU (2018). This is .99999 pure (that is five 9’s). Highest purity I am aware of — $2,070
1 oz Gold Austrian Philharmonics, BU (1994 x 1, 1999 x 1) — $2,040/ea
1 oz Gold Canadian Maple Leafs x 8 (1980 x 2, 1981, 2002 with red on “F” of fine gold on reverse, 2002 x 3 with some small scratches, 2011) — $2050/ea
1/4 oz American Gold Eagles x 6 4 (1988 Roman Numeral, 2013, 2014, 2015 x 2, 2020) — $565/ea
1/10oz American Gold Eagles in display (5 coins), BU (2006, 2012) — $1,200/ea
Empty case to display your own set of 5 1/10 oz American Gold Eagles— $10
1/4oz Gold Brittanias, BU (2013 x4) — $600/ea
50 Pesos Mexican Gold x 10 (1947 Restrikes x 8, 1943, 1944) — $2,460/ea for restrikes, $2,470/ea for ’43, ’44
1/2 oz Gold Apartheid era South African Krugerrands x 3 (1980 x 2, 1981) — $1,100/ea
1/10 oz Gold Apartheid era South African Krugerrands x 25 24 23 (various dates 1980-1984, 2011 (not apartheid era) x 1) — $240/ea
1/10 oz American Gold Eagles (various dates x 43, Roman numeral x 11 7) x 54 50 45 — $240/ea for various dates, $260/ea Roman numeral dates

Proof: https://imgur.com/a/KCjdPAy

2006 American Gold Eagle Proof Set (1 oz, 1/2 oz, 1/4 oz, 1/10 oz — 1.85 total troy oz) in OGP — $3,875
1997 Jackie Robinson $5 gold commemorative set. Comes with COA, baseball card, pin, patch, presentation box. There are some dings on the box. Pictures if desired. (0.2419 oz) — $700 (A portion of the proceeds will go toward a reputable social justice charity)
1987 & 1988 UK Gold Sovereign Proof Sets in nice case (each set has a Double Sovereign: 28.4mm, Sovereign: 22.05mm, Half Sovereign: 19.3mm) -- $1,850/each set (NOTE: the 1988 set is missing the COA.)
Austrian Ducat 4 gold coin x 2 (1915 x 2 ), 0.4438 tory oz gold — $895/ea
20 Francs Gold x 20 15 6 (11 10 4 — Roosters, 5 4 2 -- Swiss Francs, 4 1-French Empire), 0.1867 troy oz of gold/ea — $380/ea
Netherlands Gold 10 Guilder x 5, contain 0.1947 troy oz/ea (1926 x 2, 1927, 1932, 1933) — $470/ea
Gold Libertad 1/20 oz (2016) — $200 OBO
Gold Libertad 1/10 oz, BU (2016) — $340 OBO
Gold Libertad 1/10 oz proof (2016) — $350 OBO
Gold Sovereigns x 5 1, contain 7.315g gold/ea (1902, 1911, 1927 x 2 x 1, 1928) — $475/ea
1/4 oz Gold Canadian Maple (2005) — $565

Proof: https://imgur.com/a/VXzaDUN
Late Addition:
5 3 additional 1976 1 oz Krugerrands — $2,040/ea
6 additional Pandas: Don’t ask me why the premiums on Pandas are so high. They just are. I tried to price about $20+ dollars below the cheapest I could find them online at large dealers. If you find a legitimate lower price, let me know and I may very well adjust the price. 1985 — $2,150, 1987 — $2,120, 1988 — $2,095, 1990 — $2,150, 1991 — $2,150, 2002 — $2,200, 2011 — $2,240
26 25 1/10 oz Australian Battle of the Coral Sea Battle in the Pacific, in capsules — $225/ea
14 additional Netherlands gold 10 guilders — $470/ea


LOW PREMIUM LISTINGS
Proof: https://imgur.com/a/jlE0Xuu
All the time I see posts looking for precious metals “at or near spot.” Well here is your chance. If you don’t purchase these, then you are not really looking for gold at or near spot, you are looking for premium items without the premium. Those deals may be out there, but they are few and far between, with lines of buyers looking to snap them up, including myself. Items here will generally be available for spot + <2%. To get a physical form of a precious metal refined, assayed, and produced into an identifiable and verifiable form/weight/purity for a tad above spot is pretty darn good, regardless of the collectability of the item. I see people paying more premium for scrap gold than some of these.

1976 Canadian Montreal Olympic $100 commemorative (one in OGP (signs of wear), one loose with OGP in worn state but coin is fine, 0.25 oz each). You are not purchasing these for the packaging. — $500/ea
American Arts Gold Medallion Grant Wood, 1 troy oz — $2,005
2010 US Mint First Spouse Series Gold Uncirculated Mary Todd Lincoln 1/2 troy oz in OGP, NOTE: red spot on obverse (See Photo) — $1,005
Cleaned, ex-jewelry $5 Liberty head gold coin (1900, 1906 ), Note: some rim damage, will send photos if desired — $485/ea


JEWELRY LISTINGS
Proof: https://imgur.com/a/QEVcW0F

CRESCENT sterling silver pocket watch case, twist on bezel. Marked with CRESCENT, Sterling, serial number 4188. Amateur engraving with a marked name and 1919. Weighs over 100 grams!!! Pre-owned, with expected signs of tarnish and wear. A ding on back of case (see photo close up) — $75
1913 $5 Indian Head gold coin in 14K bezel, bezel weighs 1.30g — $575
2014 1/10 oz American Gold Eagle in 14K eagle pendant, bezel weighs 3.487g — $400


SILVER LISTINGS

Proof: https://imgur.com/a/MTK1BfP

Proof: https://imgur.com/a/54maJxn
25 Slabbed and Graded American Silver Eagles — Whole lot for $1,000 OBO. May make offers on individual rounds. (SOLD '92. '93, '14W)
For reference, on 8/15, APMEX wholesale site is asking $100/ea for the ‘94’s. Offering to buy ‘14-S for $50 and the NGC MS70 for $120.
—ALL NGC MS69 — 1992, 1993, 1994 x 3, 2000, 2001 x 2, 2002, 2003, 2006, 2007 —ALL NGC MS69 — 2007 Early Release x 7 —NGC MS69 — 2014(W) —NGC MS69 — 2013 First Release —PCGS MS69 — 2008 First Strike —PCGS MS69 — 2014(S) First Strike —PCGS MS69 — 2003 —NGC MS70 — 2003 
100 oz silver bars (Engelhard x 1, Ohio Precious Metals —don’t believe they will be making either of these anymore) — $2,775 /ea
20 oz Scottsdale kit kat bars (2) — $555/ea (1 left)
10 oz Queen's Beasts Series Falcons x 4 — $400/ea
2 oz Queen's Beasts Series -- tubes of Falcons x 4 ($800/ea), Yales x 4 ($580/ea)
1 oz Sunshine Minting Silver Bars x 237 199 — $28.50/ea
1 roll 2006 90% San Francisco Mint Proof Colorado State Washington Quarters — $210 (NOTE: it looks like there might be some small surface scratches on some of the coins. Therefore, they are being priced as just uncirculated.)
Men in Space Series I First Edition, .925 commemorative medals x 2 sets. These are not just sterling silver medals but history depicting the major events in the early years of NASA. https://www.worthpoint.com/worthopedia/danbury-mint-men-space-series-first-411707135 One set in original presentation packaging just like the link. One set loose with a few extra medals (2 additional medals from the 1969 Men in Space series II — 2nd Moon Landing, 1st Space Rescue; one duplicate medal from series I, and one additional First Manned Landing on the Moon Apollo 11 (slightly larger, from unknown series to me)). Sold in lots only. Lot with packaging (21 medals, 0.7 oz each) — $360. Loose lot (25 medals, 0.7 oz each plus 1 slightly larger Appollo 11 as above) — $375

Proof: https://imgur.com/gallery/hRX6XlB
Mexican Silver Lot -- Sold in lots of (10) @ $175/lot. YOU MAY MIX/MATCH
—1952-53 Mexican 5 Pesos Hidalgo, 72% silver, 0.643 troy oz silvecoin (x10)
—1977-79 Mexican 100 Pesos, 72% silver, 0.643 troy oz silvecoin (x10)
—1968— Mexican Olympic 25 Pesos, 72% silver, 0.521 troy oz silvecoin (x20)

1973 Mundinero World Trade rounds x 2 tubes — $600/ea
1973 Mundinero World Trade Rounds with 14 of the 20 being High Relief — $640
Generic Rounds (mostly buffalos, I believe ) x 10 tubes — $560/tube
Few loose generic rounds x 6 — $28/ea
2 Painted American Silver Eagles — $30/ea
’84-’85 Engelhard Prospector Rounds x 2 tubes — One tube of (20) — $660; One tube of (17) — $560
Canadian Maple Tubes of 25 x 3 (2012 x 2, 2008 x 1, NOTE: 2008 rounds have some milk spots) — $725/tube

Proof: https://imgur.com/a/XnRiLPW
Lot of 17 premium rounds: Philharmonics x4, Brittanias x 5, 2018 Republic Of Chad African Lion x 2, Krugerrands x 3, Australian Kangaroo x 1, Super Pit Australia x 2 — $488. Sold only as a lot.
Lot of fractional silver rounds, 1.35 ASW — 1/4 oz indian head, 1/4 oz walking liberty, 1/4 oz buffalo nickel, 1/10 oz indian head x 3, buffalo x 1, Morgan x 1 — $44. Sold only as a lot.

LOW PREMIUM LISTINGS
Proof: https://imgur.com/a/R9NuZj8
All the time I see posts looking for precious metals “at or near spot.” Well here is your chance. If you don’t purchase these, then you are not really looking for silver at or near spot, you are looking for premium items without the premium. Those deals may be out there, but they are few and far between, with lines of buyers looking to snap them up, including myself. Items here will generally be available for spot + <2%. To get a physical form of a precious metal refined, assayed, and produced into an identifiable and verifiable form/weight/purity for a tad above spot is pretty darn good, regardless of the collectability of the item. I see people paying more premium for scrap than some of these.

Silver war nickels @ $1.36/ea (BELOW SPOT), 8,500+ available, minimum quantity of 100

Large lot of Canadian — further info on request. Prefer to sell this in larger lots grouped together, not piecing it out or small lots. Take the whole lot for $3,000, or:
—$1.75fv, .925 — $33 —$20.25fv, ’67-’68, 50% (mostly all quarters) — $185 —$164.35fv, pre ’67, 80% (includes 65 $1) — $2,400 —1976 Montreal Olympic .925 $10 commemoratives x 9, 1.4454 troy oz/ea — $40/ea —1972 .925 $25 Cayman Island Silver Anniversary x 1, 1.5271 troy oz — $42.50 

TERMS: All eligible items are verified with a sigma precious metal verifier or Kee gold tester. Prices are generally based on the underlying spot price. Large fluctuations in spot prices could affect the price of items listed. Shipping will generally be at cost. USPS first class starts @ $4, SFRB @ $8.50, signature @ $2.50. Will insure for 1.1% of purchase price. Shipping is at buyer’s risk. All items will be tracked, but I cannot be responsible for what happens on your porch. Would recommend delivery to a secure box for precious metals. Accept in order of preference: 1st — Zelle or Venmo; 2nd — PPFF (no comments), PPG&S @ +3.0%; Last resort: I have recently acquired the ability to accept Bitcoin, but am still learning. Be patient and fees will be at buyer’s expense, but I will try to work with you if other options do not suffice. Other forms of payment will be considered. Thank you!
submitted by AgAuSeller to Pmsforsale [link] [comments]

A Physicist's Bitcoin Trading Strategy. No leverage, no going short, just spot trading. Total cumulative outperformance 2011-2020: 13,000,000%.

https://www.tradingview.com/script/4J5psNDo-A-Physicist-s-Bitcoin-Trading-Strategy/
3. Backtest Results
Backtest results demonstrate significant outperformance over buy-and-hold . The default parameters of the strategy/indicator have been set by the author to achieve maximum (or, close to maximum) outperformance on backtests executed on the BTCUSD ( Bitcoin ) chart. However, significant outperformance over buy-and-hold is still easily achievable using non-default parameters. Basically, as long as the parameters are set to adequately capture the full character of the market, significant outperformance on backtests is achievable and is quite easy. In fact, after some experimentation, it seems as if underperformance hardly achievable and requires deliberately setting the parameters illogically (e.g. setting one parameter of the slow indicator faster than the fast indicator). In the interest of providing a quality product to the user, suggestions and guidelines for parameter settings are provided in section (6). Finally, some metrics of the strategy's outperformance on the BTCUSD chart are listed below, both for the default (optimal) parameters as well as for a random sample of parameter settings that adhere to the guidelines set forth in section (6).
Using the default parameters, relative to buy-and-hold strategy, backtested from August 2011 to August 2020,
Using the default parameters, relative to buy-and-hold strategy, during specific periods,
Using a random sample (n=20) of combinations of parameter settings that adhere to the guidelines outlined in section (6), relative to buy-and-hold strategy, backtested from August 2011 to August 2020,
EDIT (because apparently not everybody bothers to read the strategy's description):
7. General Remarks About the Indicator
Other than some exponential moving averages, no traditional technical indicators or technical analysis tools are employed in this strategy. No MACD , no RSI , no CMF , no Bollinger bands , parabolic SARs, Ichimoku clouds , hoosawatsits, XYZs, ABCs, whatarethese. No tea leaves can be found in this strategy, only mathematics. It is in the nature of the underlying math formula, from which the indicator is produced, to quickly identify trend changes.
8. Remarks About Expectations of Future Results and About Backtesting
8.1. In General As it's been stated in many prospectuses and marketing literature, "past performance is no guarantee of future results." Backtest results are retrospective, and hindsight is 20/20. Therefore, no guarantee can, nor should, be expressed by me or anybody else who is selling a financial product (unless you have a money printer, like the Federal Reserve does).
8.2. Regarding This Strategy No guarantee of future results using this strategy is expressed by the author, not now nor at any time in the future.
With that written, the author is free to express his own expectations and opinions based on his intimate knowledge of how the indicator works, and the author will take that liberty by writing the following: As described in section (7), this trading strategy does not include any traditional technical indicators or TA tools (other than smoothing EMAs). Instead, this strategy is based on a principle that does not change, it employs a complex indicator that is based on a math formula that does not change, and it places trades based on five simple rules that do not change. And, as described in section (2.1), the indicator is designed to capture the full character of the market, from a macro/global scope down to a micro/local scope. Additionally, as described in section (3), outperformance of the market for which this strategy was intended during backtesting does not depend on luckily setting the parameters "just right." In fact, all random combinations of parameter settings that followed the guidelines outperformed the intended market in backtests. Additionally, no parameters are included within the underlying math formula from which the indicator is produced; it is not as if the formula contains a "5" and future outperformance would depend on that "5" being a "6" instead. And, again as described, it is in the nature of the formula to quickly identify trend changes. Therefore, it is the opinion of the author that the outperformance of this strategy in backtesting is directly attributable to the fundamental nature of the math formula from which the indicator is produced. As such, it is also the opinion of the author that continued outperformance by using this strategy, applied to the crypto ( Bitcoin ) market, is likely, given that the parameter settings are set reasonably and in accordance with the guidelines. The author does not, however, expect future outperformance of this strategy to match or exceed the outperformance observed in backtests using the default parameters, i.e. it probably won't outperform by anything close to 13,000,000% during the next 9 years.
Additionally, based on the rolling 1-month outperformance data listed in section (3), expectations of short-term outperformance should be kept low; the median 1-month outperformance was -2%, so it's basically a 50/50 chance that any significant outperformance is seen in any given month. The true strength of this strategy is to be out of the market during large, sharp declines and capitalizing on the opportunities presented at the bottom of those declines by buying the dip. Given that such price action does not happen every month, outperformance in the initial months of use is approximately as likely as underperformance.
submitted by anon2414691 to BitcoinMarkets [link] [comments]

Is Convergence the Future of DeFi? InfinityDefi Tells Who Will Dominate the Field

After more than two years of brewing, DeFi broke out in the summer of 2020. Within just three months from mid-June till present, the progress is dazzling. This is by far the most innovative stage in the cryptocurrency history. Liquidity mining and yield farming are extremely popular and the Ethereum gas fee skyrocketed on their backs. Meanwhile, some projects are forced to close due to the overly costly transaction fees they need to subsidize for users. What did classic DeFi projects do in the past six months?
Liquidity mining has been a recognized driver for DeFi. The model was originated by Synthetix on Curve to distribute SNX token incentives to users who provide liquidity for the sUSD pool. Synthetix is a synthetic asset generation and trading protocol, therefore, with no liquidity its synthetic assets are meaningless.
What is liquidity mining? It is depositing or lending tokens under a set of rules to a DeFi product with a mining mechanism to ensure liquidity for the product’s fund pool with the final aim to get rewards for it. The recently popular Compound does it. Compound is a DeFi protocol for collateralized lending on Ethereum. Users provide their tokens to get annualized income or pay interest to borrow tokens. While borrowing and lending, they earn the governance token COMP distributed by a smart contract.
Their token COMP serves for governance and reflects the business value. All borrowers and lenders on Compound earn COMP. The total number of tokens allocated for mining is 4,229,949. Lenders get one half and borrowers get the other half of it. When COMP price rises, the users’ motivation to deposit and borrow money is stronger.
YAM is the initiator of mining + forking. When AMPL came out, there were some imitators but none of them gained mass attention in the crypto community. The only exception is YAM. Why is YAM so attractive? It is a fork of AMPL with YFI‘s issuance mechanism that added a couple of new features such as a reserve and exploded.
YFI is the governance token on https://yearn.finance. It has no pre-mining, ICO, allocation for the team, or reserve for investment institutions. It adopts the online governance model and community decides on its development direction, which is quite fair. Due to its distribution method, YFI is even called the Bitcoin in DeFi.
https://yearn.finance automatically deposit stablecoins and mines liquidity on AAVE, Compound, dYdX, etc. It has a set of revenue tools like ytrade, yliquidate, yleverage, ypool, and smart contract pledge loans. https://yearn.finance aims to simplify the overly complex liquidity mining and automate the operations. It seeks the best profit strategy for asset holders and increases gas usage efficiency for small-scale miners. Even when Ethereum gas fee reached 100 gwei, the deposit and withdrawal fees were around 2 USD.
Sushiswap: The Trend Setter
DEX are the largest chunk of DeFi. The top three are Uniswap, Balancer, and Curve. More than a dozen of DEX has daily trading volume over $10 million. With the rising volume, DEX will be the competition for centralized exchanges (CEX) in the future.
Sushiswap pushes forking + mining. It is a fork of Uniswap with increased token distribution for mining that tried to pull the liquidity carpet from under Uniswap. It has mining pools for stablecoins like USDT, USDC, and DAI as well as Uniswap’s most liquid mainstream DeFi token pools. However, Sushiswap imitators lack originality. Various “food swaps” that appeared recently are bound to enter the death spiral.
Need aggregators? InfinityDefi (INFI) Is What You Need
In the Internet age, aggregators get the most value. Google aggregates the content of websites, Facebook does it with social relationships and content, Amazon with goods and trading, Airbnb with guest rooms, etc. These tech giants have subverted traditional industries and built a near-monopoly position.
Why are they close to monopoly? As more users, content, and products are aggregated, the cost drops and a network effect forms. The wall is high, but the one who crosses it takes all. The same is true for DeFi. It is just a technology on top of a financial arbitrage model, which is cyclic depositing and borrowing to earn interest.
DeFi is modular and trustless and aggregators take advantage of it. Liquidity mining, staking, lending, or DEX AMM are all essentially deposition of tokens to a storage pool to earn revenue. INFI (InfinityDefi) is an aggregate DeFi product, a decentralized digital bank as they call themselves. They are adding a vault with the best investment and value preservation services.
InfinityDefi is a dApp on Ethereum and a cross-chain, multi-currency system with multi-collateral backing. Its Polymerization Pool combines collateral and debts and integrates price feeding, auction, and autonomous management. Users pledge a variety of stablecoins and non-stablecoins to borrow funds. The Pool dynamically adjusts interest rates according to each currency’s ratio in it for higher stability. That is, when the pool is short of ETH, the interest rate earned by ETH pledgers rises.
The protocol is decentralized, transparent, and fair. Besides the standard collateral lending, InfinityDefi lenders can pledge their existing external collateral agreements to other users of the platform as collateral for new loans and better arbitrage. The new (secondary) lender owns the collateral debt. When the lender of the first collateralized loan has an urgent short-term capital demand, it can become a borrower with secondary collateral, sell its creditor’s rights, and get a loan bigger than the original collateral.
InfinityDefi provides secondary loans amounting to 10% of your primary collateral on other platforms. The model is still the traditional “give something as collateral and borrow,” while empowering users and providing more benefits.
Other incentives are equity tokens PPT issued for each loan and collateral (whether primary or secondary). PPT rewards increase with the size and duration of collateral. Conversion of PPT to INFI, the ecosystem token, is available. INFI holders participate in the project management and share the project’s financial risks for stability, transparency, and efficiency, and share profits of the entire ecosystem in return. The respective governance power is proportional to the number of INFI in the voter’s account. INFI aims for listing on major exchanges.
submitted by summerflyoo7 to ethtrader [link] [comments]

Weekly Wrap: This Week In Chainlink September 28 - October 4

Weekly Wrap: This Week In Chainlink September 28 - October 4

Chainlink Hackathon - Congratulations to the Winners of the Chainlink Virtual Hackathon 2020

Thanks to all #Chainlink Hackathon participants and congrats to the winners! Devs showcased a wide range of new Chainlink functions:
- P2P car rental platform using a @Tesla API
- Yield farming RPG game
- AMM insurance market
- decentralized library & more

Announcements and Integrations 🎉

WBTC's $1 billion+ in Bitcoin will now gain additional security using Chainlink's Proof of Reserve capability. We're thrilled to be working with @BitGo to enable greater transparency & therefore more usability for WBTC as a form of collateral across DeFi.

Crypto-fiat payment provider @AlchemyPay is integrating Chainlink price feeds into its payments & upcoming DeFi platform. This ensures that users receive the fair market when interacting with DeFi dApps or making retail crypto payments on Alchemy Pay.

Gaming platform Planetarium is integrating Chainlink into @NineChronicles to power cross-game Metaverse communication, in-game commodity pricing, and secure trading of in-game items, with additional plans to use Chainlink VRF to create unique NFT-backed in-game items.

DeFi platform @strongblock_io has integrated Chainlink’s ETH/USD & LINK/ETH Price Reference Data feeds live on mainnet to calculate its staking rewards. This ensures that all rewards issued to StrongBlock users are accurately & transparently distributed.

Blockchain platform @blockstack is integrating Chainlink as its go-to oracle solution to empower universally connected smart contracts. Blockstack devs will have access to any API, Sybil resistant nodes, live decentralized price oracles for DeFi and more.

Private synthetic asset DeFi platform @OffshiftXFT has integrated Chainlink's BTC/USD and XAU/USD Price Feeds live on Testnet to serve as decentralized reference prices for users minting, burning, and trading its privacy-preserving zkAssets.

DeFi platform @OfficialCentaur integrates Chainlink VRF to add enhanced transparency. Chainlink VRF's provably fair source of RNG enables unbiased random selection of sale participants, leveling the playing field for all.

New Chainlink Node operator Inotel is now live on mainnet helping secure Chainlink's Price Reference Data for DeFi developers. Inotel brings DevOps experience as a PoS validatonode operator on 9 other Web3 networks, helping secure millions in USD value.

Featured Videos & Educational Pieces 🎥

Chainlink's oracle network unlocks new markets for insurance + expands DeFi’s footprint. @avivahl from @Gartner_Inc highlights how organizations like @ArbolMarket use Chainlink rainfall data to give farmers access to parametric weather insurance contracts.

Data providers use Chainlink to sell data/APIs to multiple blockchains in under an hour, from existing APIs & without running any additional software. Many have then launched Chainlink Nodes in a few hours, to sell signed data directly to smart contracts.

Rewatch our live Q&A with TrustSwap CEO, Jeff Kirdeikis. We will be speaking about TrustSwap's recent integration of Chainlink and its use of decentralized oracles to grow the DeFi ecosystem.

Rewatch our a live Q&A with the Aavegotchi team. We speak about Aavegotchi's recent integration of Chainlink VRF and its use of decentralized oracles to grow the NFT ecosystem. Come learn more about NFTs / crypto-collectibles, Aavegotchi and more.

SmartCon Videos are now ALL available. Watch them here


Upcoming Events 📅

Are you interested in hosting your own meetup? Apply to become a Chainlink Community Advocate today: https://events.chain.link/advocate

Chainlink Labs is hiring to build Chainlink’s network: Check out these open roles 👩‍💼

View all open roles at https://careers.smartcontract.com
Are there other community content and celebrations that we missed? Post them in the comments below! ⤵️
submitted by linkedkeenan to Chainlink [link] [comments]

Bitcoin Price Analysis and 2019 Price Predictions The Price of Bitcoin Set to Rise Into The Halving 3 Major Bitcoin Factors Indicating A Massive Cryptocurrency Bull Run! BIG NEWS: Bitcoin Just Got A HUGE BOOST! 401k Investment ... Bitcoin past, present, & future: Anders interviews Adam ...

Bitcoin is showing tempered signs of strength at the present moment as its price pushes up towards $11,800; The cryptocurrency has been seeing slight weakness in recent days, making this latest upswing a welcome development for bulls Bitcoin’s price has been showing signs of strength throughout the past few hours, finally pushing above $10,600 This strength is tempered, and bulls remain in a precarious position as they struggle to catalyze any sustainable uptrend The entire market has been relatively quiet over the past few ... Bitcoin USD price, real-time (live) charts, bitcoin news and videos. Learn about BTC value, bitcoin cryptocurrency, crypto trading, and more. Bitcoin price today is $13,073.32 USD with a 24-hour trading volume of $23,603,626,066 USD. Bitcoin is up 0.48% in the last 24 hours. The current CoinMarketCap ranking is #1, with a market cap of $242,210,721,011 USD. It has a circulating supply of 18,527,100 BTC coins and a max. supply of 21,000,000 BTC coins. You can find the top exchanges to trade Bitcoin listed on our Bitcoin Price Outlook for 2020. Many self-professed gurus have come out to project some astounding prices for Bitcoin in 2020. Now that BTCUSD has hit a road block at $10,500, many of them have ...

[index] [2846] [14124] [45666] [19127] [19650] [12813] [16965] [17181] [16539] [11595]

Bitcoin Price Analysis and 2019 Price Predictions

Salt Lake City, UT- Anders interviewed me and we talked about a lot of Bitcoin price related topics. Guy also made an appearance. It is always fun to be the ... Published on Apr 7, 2020 In this video we will look at if this is a good time to buy Bitcoin and if the price is set to rally into the halving or if more downside risk is present. FREE TELEGRAM ... Oil is slumping. What will that mean for the price of cryptocurrencies? This is the link to there original article from Art Berman: https://www.artberman.com... #Bitcoin #BTC #Cryptocurrency I try to analyse the price of Bitcoin. As 20th of May 2020 bitcoin Golden Cross happened so price action is major concern among all crypto people. In this video I will talk about Satoshi vision about bitcoin and I will present some price predictions that were made by the most famous experts involved in crypto currency space ...

#