Top 10 Best Bitcoin Movies And Documentaries to Watch in 2020

Tyuiop

Hubble Uncovers Black Hole that Shouldn't Exist - space https://www.reddit.com/space/comments/cbyhcl/hubble_uncovers_black_hole_that_shouldnt_exist/ India Launches Mission To The Moon In Bid To Land At The Lunar South Pole. - space https://www.reddit.com/space/comments/cgawyl/india_launches_mission_to_the_moon_in_bid_to_land/ A large asteroid zipped between Earth and the Moon this morning. Astronomers missed the asteroid until it was nearly on top of them, but the space rock has already passed harmlessly by. - space https://www.reddit.com/space/comments/chthtf/a_large_asteroid_zipped_between_earth_and_the/ NASA shuts off heating system for Voyager 2's cosmic ray instrument. The instrument is still functioning for now, despite working at -74°F, which is some 25 degrees colder than it was tested for. The spacecraft was launched in 1977 and is operating at more than 11 billion miles (120 AU) from Earth. - space https://www.reddit.com/space/comments/cbnhai/nasa_shuts_off_heating_system_for_voyager_2s/ Inside Starshot, the audacious plan to shoot tiny ships to Alpha Centauri: Plan to build a laser so powerful that it could accelerate tiny spacecraft to 20% of the speed of light, getting them to Alpha Centauri in just 20 years. We could become interstellar explorers within a single generation. - space https://www.reddit.com/space/comments/cajxen/inside_starshot_the_audacious_plan_to_shoot_tiny/ American kids would much rather be YouTubers than astronauts. Becoming an astronaut ranked last among five professions. Only in China did children have a clear preference for being an astronaut—or rather, a taikonaut—and had higher expectations for human settlement of space in the decades to come. - space https://www.reddit.com/space/comments/cdxqob/american_kids_would_much_rather_be_youtubers_than/ Buzz Aldrin: Stephen Hawking Said We Should 'Colonize the Moon' Before Mars - “since that time I realised there are so many things we need to do before we send people to Mars and the Moon is absolutely the best place to do that.” - space https://www.reddit.com/space/comments/c7ra2v/buzz_aldrin_stephen_hawking_said_we_should/ This is what Earth looks like from 1.5 billion kilometers away; the Cassini spacecraft spots a pale blue dot beneath Saturn's rings. - space https://www.reddit.com/space/comments/ciydrk/this_is_what_earth_looks_like_from_15_billion/ Jupiter's Auroras captured by the Hubble Telescope - space https://www.reddit.com/space/comments/cg5wcj/jupiters_auroras_captured_by_the_hubble_telescope/ The Northern Lights as seen from the ISS - space https://www.reddit.com/space/comments/cadm75/the_northern_lights_as_seen_from_the_iss/ Shockwave On the Sun Following a Solar Flare - space https://www.reddit.com/space/comments/c76h7e/shockwave_on_the_sun_following_a_solar_flare/ Curiosity rover snaps spectacular Mars panorama - space https://www.reddit.com/space/comments/cd2iwh/curiosity_rover_snaps_spectacular_mars_panorama/ Bill Gates says Steve Jobs was a master at ‘casting spells’ to keep Apple from dying - technology https://www.reddit.com/technology/comments/caca7u/bill_gates_says_steve_jobs_was_a_master_at/ Tech Billionaire Peter Thiel Says Elizabeth Warren Is "Dangerous;" Warren Responds: ‘Good’ – TechCrunch - technology https://www.reddit.com/technology/comments/ced104/tech_billionaire_peter_thiel_says_elizabeth/ Ebooks Purchased From Microsoft Will Be Deleted This Month Because You Don't Really Own Anything Anymore - technology https://www.reddit.com/technology/comments/c7rblebooks_purchased_from_microsoft_will_be_deleted/ Voting Machine Makers Claim The Names Of The Entities That Own Them Are Trade Secrets - technology https://www.reddit.com/technology/comments/cbj86w/voting_machine_makers_claim_the_names_of_the/ Former Tesla employee admits uploading Autopilot source code to his iCloud - Tesla believes he stole company trade secrets and took them to Chinese startup, Xiaopeng Motors - technology https://www.reddit.com/technology/comments/cbuwci/former_tesla_employee_admits_uploading_autopilot/ Jeff Bezos Says We're Destroying Earth, but Amazon Is the Slowest Tech Giant to Go Green - technology https://www.reddit.com/technology/comments/cfltd2/jeff_bezos_says_were_destroying_earth_but_amazon/ Elon Musk says SpaceX could land on the moon in 2 years. A NASA executive says 'we'll partner with them, and we'll get there faster' if the company can pull it off. - Futurology https://www.reddit.com/Futurology/comments/cj4f7t/elon_musk_says_spacex_could_land_on_the_moon_in_2/ An economic indicator that has predicted every major recession since the 1960s is sending another warning. It’s called the U.S. Treasury yield curve and, when inverted, is considered to be the most reliable indicator of an upcoming recession. - Futurology https://www.reddit.com/Futurology/comments/c9w72l/an_economic_indicator_that_has_predicted_every/ Elon Musk Proposes a Controversial Plan to Speed Up Spaceflight to Mars - Soar to Mars in just 100 days. Nuclear thermal rockets would be “a great area of research for NASA,” as an alternative to rocket fuel, and could unlock faster travel times around the solar system. - Futurology https://www.reddit.com/Futurology/comments/chnqgelon_musk_proposes_a_controversial_plan_to_speed/ NASA is planning to visit an asteroid made of gold and other precious metals worth $700 quintillion - enough to give everyone on the planet $93 billion. - Futurology https://www.reddit.com/Futurology/comments/cg1jow/nasa_is_planning_to_visit_an_asteroid_made_of/ Elon Musk says a 'massive effort' is required to get Tesla driverless cars to '99.9999%' safety - “Intersections with complex traffic lights & shopping mall parking lots are the two biggest software challenges” - Futurology https://www.reddit.com/Futurology/comments/cakswl/elon_musk_says_a_massive_effort_is_required_to/ Elon Musk Says We Can Land on the Moon in Less Than 2 Years - “If it were to take longer to convince NASA and the authorities that we can do it versus just doing it, then we might just do it. It may literally be easier to just land Starship on the moon than try to convince NASA that we can.” - Futurology https://www.reddit.com/Futurology/comments/ceschm/elon_musk_says_we_can_land_on_the_moon_in_less/ Researchers in Spain and U.S. have announced they've discovered a new property of light -- "self-torque." Their experiment fired two lasers, slightly out of sync, at a cloud of argon gas resulting in a corkscrew beam with a gradually changing twist. They say this had never been predicted before. - science https://www.reddit.com/science/comments/c7ailv/researchers_in_spain_and_us_have_announced_theyve/ Official Discussion: Once Upon a Time in Hollywood [SPOILERS] - movies https://www.reddit.com/movies/comments/chmknk/official_discussion_once_upon_a_time_in_hollywood/?sort=top Netflix’s Market Value Drops $26 Billion In A Week; Founder’s Net Worth Falls In Tandem - movies https://www.reddit.com/movies/comments/chjz0u/netflixs_market_value_drops_26_billion_in_a_week/ Why Does Hollywood Keep Falling Into The Uncanny Valley? - movies https://www.reddit.com/movies/comments/cfzci0/why_does_hollywood_keep_falling_into_the_uncanny/ Disney bought Marvel for $4 billion in 2009, a decade later it's made more than $18 billion at the global box office - movies https://www.reddit.com/movies/comments/cg3dhn/disney_bought_marvel_for_4_billion_in_2009_a/ Bring Back Hand-Drawn Disney Animation - movies https://www.reddit.com/movies/comments/cgv7lf/bring_back_handdrawn_disney_animation/ "The 100 Best Movies of the 2010s" for Indiewire - movies https://www.reddit.com/movies/comments/cgdbul/the_100_best_movies_of_the_2010s_for_indiewire/ Official Discussion: The Lion King (2019) [SPOILERS] - movies https://www.reddit.com/movies/comments/cew5fw/official_discussion_the_lion_king_2019_spoilers/?sort=top James Cameron congratulates Avengers: Endgame on becoming the biggest film of all time - movies https://www.reddit.com/movies/comments/cgbt3j/james_cameron_congratulates_avengers_endgame_on/ ‘Avengers: Endgame’ Finally Conquers King of The World James Cameron’s ‘Avatar’ To Becoming The Highest Grossing Film Of All-Time - movies https://www.reddit.com/movies/comments/cft2io/avengers_endgame_finally_conquers_king_of_the/ [WW]‘Avengers: Endgame’ Finally Conquers King of The World James Cameron’s ‘Avatar’ To Becoming The Highest Grossing Film Of All-Time - boxoffice https://www.reddit.com/boxoffice/comments/cft1uy/wwavengers_endgame_finally_conquers_king_of_the/ Box Office Week: The Lion King (2019) opens to a massive $185M domestic and $531M worldwide. It's a great weekend for Disney as now Avengers: Endgame has officially passed Avatar at the highest grossing film worldwide with $2.79B. - movies https://www.reddit.com/movies/comments/cgelxq/box_office_week_the_lion_king_2019_opens_to_a/ Box Office Week: Spider-man: Far From Home is #1 again with $45.3M, rocketing past $840M worldwide in two weeks. Crawl manages a solid debut at #3 with $12M. Stuber bombs at #4 with $8M. The Farewell has the best limited opening of the year, opening in 4 theaters with $351.3K. - movies https://www.reddit.com/movies/comments/cde1ve/box_office_week_spiderman_far_from_home_is_1/ Box Office Week: Spider-Man: Far From Home opens to an excellent $185M domestic and $580M worldwide on the July 4th holiday weekend while Midsommar opens weak at #6 with $10.6M. - movies https://www.reddit.com/movies/comments/cakttu/box_office_week_spiderman_far_from_home_opens_to/ Box Office Week: Toy Story 4 is #1 again with $57.9M, almost passing $500M worldwide. Annabelle Comes Home has the worst opening of the Conjuring franchise with $20.3M at #2. Yesterday opens well at #3 with $17M at #3. - movies https://www.reddit.com/movies/comments/c7s4cm/box_office_week_toy_story_4_is_1_again_with_579m/ hi, I am a songwriter who makes punk and alternative music. I bought my own reddit ads to promote my Soundcloud and try and get my music heard. it'd mean a lot if you checked it out and let me know what you think. thank you, have a nice day. - uImbred- https://www.reddit.com/comments/bcmuy9/hi_i_am_a_songwriter_who_makes_punk_and/ A City that Stretches to the Moon, 流感中, Digital, 2018 - Art https://www.reddit.com/Art/comments/c3wf8v/a_city_that_stretches_to_the_moon%E6%B5%81%E6%84%9F%E4%B8%AD_digital_2018/ Just a father and son, using VR headsets, while waiting for their Tesla to charge. - pics https://www.reddit.com/pics/comments/c7be04/just_a_father_and_son_using_vr_headsets_while/ Congratulations to 15 yr old Cori “Coco” Gauff, who after becoming the youngest player to ever qualify for Wimbledon, defeated her idol Venus Williams today to become the youngest player since 1991 to win in the first round of women’s singles. What an incredible story. - pics https://www.reddit.com/pics/comments/c82b9z/congratulations_to_15_yr_old_cori_coco_gauff_who/ Hi Reddit! We’re the team behind Microsoft Edge and we’re excited to answer your questions about the latest preview builds of Microsoft Edge. We’ve been working hard and we can’t wait to hear what you think. Ask us anything! - IAmA https://www.reddit.com/IAmA/comments/c094uf/hi_reddit_were_the_team_behind_microsoft_edge_and/ I made a free alternative to Photoshop, that is used by 3 millions of people. Ask me Anything! - IAmA https://www.reddit.com/IAmA/comments/c8ru2y/i_made_a_free_alternative_to_photoshop_that_is/ Exercise, Brasenia 1, Digital, 2019 - Art https://www.reddit.com/Art/comments/bek15exercise_brasenia_1_digital_2019/ Somewhere in Switzerland - pics https://www.reddit.com/pics/comments/be6dkg/somewhere_in_switzerland/ My friend and I walked around the city after it rained looking for puddles. Here's what I captured. - pics https://www.reddit.com/pics/comments/bdsqz3/my_friend_and_i_walked_around_the_city_after_it/ 567 years ago Leonardo da Vinci, one of the greatest polymaths, was born - europe https://www.reddit.com/europe/comments/bdcn7k/567_years_ago_leonardo_da_vinci_one_of_the/ Damage done by the Notre Dame fire - europe https://www.reddit.com/europe/comments/bdviny/damage_done_by_the_notre_dame_fire/ The first victim of Article 13: "Never Gonna Give You Up" is not available in EU countries. - europe https://www.reddit.com/europe/comments/bex728/the_first_victim_of_article_13_never_gonna_give/ Notre Dame is on fire. - europe https://www.reddit.com/europe/comments/bdil88/notre_dame_is_on_fire/ Itachi > Billie Eilish any day - BlackPeopleTwitter https://www.reddit.com/BlackPeopleTwittecomments/bekivp/itachi_billie_eilish_any_day/ Oh how the turn tables - BlackPeopleTwitter https://www.reddit.com/BlackPeopleTwittecomments/be7jf3/oh_how_the_turn_tables/ Finally finding a skin tone Band-Aid - BlackPeopleTwitter https://www.reddit.com/BlackPeopleTwittecomments/bfbsa8/finally_finding_a_skin_tone_bandaid/ Light-time - space https://www.reddit.com/space/comments/bdee5u/lighttime/ I just realised that the photo of the black hole is what it looked like 55 million years ago not what it looks like today - space https://www.reddit.com/space/comments/bbw6d6/i_just_realised_that_the_photo_of_the_black_hole/ If we were able to look at a black hole from different orientations we would be able to see light even from parts of the accretion disc behind the black hole as they are lensed above and below the shadow region [Credits: L. R. Weih & L. Rezzolla of Goethe University, Frankfurt] - space https://www.reddit.com/space/comments/bbs1l3/if_we_were_able_to_look_at_a_black_hole_from/ Powehi: black hole gets a name meaning 'the adorned fathomless dark creation' - Language professor in Hawaii comes up with name welcomed by scientists who captured first image of galactic phenomenon - space https://www.reddit.com/space/comments/bccxc5/powehi_black_hole_gets_a_name_meaning_the_adorned/ How to Understand the Image of a Black Hole - space https://www.reddit.com/space/comments/bb7q2o/how_to_understand_the_image_of_a_black_hole/ The M87 black hole image was an incredible feat of data management. One cool fact: They carried 1,000 pounds of hard drives on airplanes because there was too much to send over the internet! - space https://www.reddit.com/space/comments/bcs2mthe_m87_black_hole_image_was_an_incredible_feat/ High resolution Falcon Heavy thrusters - space https://www.reddit.com/space/comments/bd1k8q/high_resolution_falcon_heavy_thrusters/ MIT grad Katie Bouman, 29, is the researcher who led the creation of a new algorithm that produced the first-ever image of a black hole - space https://www.reddit.com/space/comments/bbr85mit_grad_katie_bouman_29_is_the_researcher_who/ For those confused about the orientation of the M87 black hole photograph. - space https://www.reddit.com/space/comments/bc343for_those_confused_about_the_orientation_of_the/ Astronomers Capture First Image of a Black Hole - space https://www.reddit.com/space/comments/bblt4f/astronomers_capture_first_image_of_a_black_hole/ Tokyo became a megacity by reinventing itself: Tokyo is a stunning metropolis home to more than 37 million people, yet it remains one of the world’s wealthiest, safest, and most creative urban centers - Futurology https://www.reddit.com/Futurology/comments/bcghxp/tokyo_became_a_megacity_by_reinventing_itself/ Why are we so bad at planning cities? From cul-de-sacs to retail parks, Britain’s planning rules cause environments that are bewildering, illogical and ugly. We have forgotten that urban areas are grown - Futurology https://www.reddit.com/Futurology/comments/bbwt1b/why_are_we_so_bad_at_planning_cities_from/ China who is the largest market for computer hardware says it wants to eliminate bitcoin mining. They believe it is unsafe, wasts resources and pollutes the environment. - Futurology https://www.reddit.com/Futurology/comments/bb5f7q/china_who_is_the_largest_market_for_compute Landing three boosters within two minutes of each other, one on a droneship in the ocean, is about as futuristic as private space tech would have ever been imagined just two decades ago. - Futurology https://www.reddit.com/Futurology/comments/bc863m/landing_three_boosters_within_two_minutes_of_each/ Falcon Heavy's boosters landing in Cape Canaveral - Futurology https://www.reddit.com/Futurology/comments/bcp1bp/falcon_heavys_boosters_landing_in_cape_canaveral/ First photo of a black hole in the heart of the M87 galaxy taken by the Event Horizon Telescope - Futurology https://www.reddit.com/Futurology/comments/bbly5z/first_photo_of_a_black_hole_in_the_heart_of_the/ Trump vowed to eliminate the debt in 8 years. He’s on track to leave it at least 50 percent higher. - Economics https://www.reddit.com/Economics/comments/bcevys/trump_vowed_to_eliminate_the_debt_in_8_years_hes/ Suicidal behavior has nearly doubled among children aged 5 to 18, with suicidal thoughts and attempts leading to more than 1.1 million ER visits in 2015 -- up from about 580,000 in 2007, according to an analysis of U.S. data. - science https://www.reddit.com/science/comments/bb0gr6/suicidal_behavior_has_nearly_doubled_among/ The first picture of a black hole opens a new era of astrophysics. The supermassive beast lies in a galaxy called M87 more than 50 million light-years away - science https://www.reddit.com/science/comments/bblu6v/the_first_picture_of_a_black_hole_opens_a_new_era/ Tiger Woods Wins 5th Masters Title; First Major Victory Since 2008 - sports https://www.reddit.com/sports/comments/bd5ssl/tiger_woods_wins_5th_masters_title_first_majo How Newt Gingrich Destroyed American Politics - The Atlantic https://www.theatlantic.com/magazine/archive/2018/11/newt-gingrich-says-youre-welcome/570832/ Polarization in Poland: A Warning From Europe - The Atlantic https://www.theatlantic.com/magazine/archive/2018/10/poland-polarization/568324/ The Meteorite Hunters Who Descended on the Carancas Fall | WIRED https://www.wired.com/story/scramble-claim-worlds-most-coveted-meteorite/ Charles Duhigg: Why Is America So Angry? - The Atlantic https://www.theatlantic.com/magazine/archive/2019/01/charles-duhigg-american-ange576424/
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Nano #Ama on Binance Spanish telegram group!!

Regards!! I'm Jesús Zambrano, member of the Hispanic community of NANO for a long time. Last thursday, we had an interesting and enjoying Ask-me-anything at Binance Spanish community on telegram with the people behind NANO, Colin LeMahieu (Founder and Executive Director) and Zach Hyatt (Proyect Manager), where we take advantage of their kindness and willingness to ask them some questions and share opinions about de currency. I will share a compilation of some of the questions and answers.
-(Admin) ¡Welcome Binancians to our following AMA!
I will explain how AMA works; we will have three (3) segments.
Segment #1: I am going to ask to our guests five (5) questions and then they will answer them.
I will be explaining the rest of the segments as we conclude one of them.
-(Admin) Today we have the great pleasure of having Colin (Founder and Executive Director) and Zach (Project Manager) with us in our chat room. Could you give us a little introduction about you?
- (Zach) Hi everyone, I am Zach Hyatt, the Project Manager at the Nano Foundation and am excited to help answer questions about Nano. I live in Austin, TX where it is quite hot right now!
-(Colin) I’m Colin LeMahieu, founder of Nano. I’m a computer engineer and I’ve worked at companies like Qualcomm, Dell, and AMD. I have been working on Nano for about 5 years now and I’m really excited to talk with people who are interested as well!
-(Admin) It is a pleasure for us to have you here, I have to say that on a personal level, I have been a follower of the project for a long time now, so it is incredible for me to be able to count on you tonight, we will start with segment # 1, with the questions I have for you.
Feeless transactions and in record time! What is NANO? Can you give us an introduction to the project?
-(Colin) Nano’s goal is to solve problems with other cryptocurrencies and make sending value fast and fee-less. It has a unique design to allow us to accomplish this. We want people to have the option of using decentralized digital money instead of fiat money anywhere in the world. Nano is accessible and easy-to-use today and we plan on keeping it focused on these goals.
-(Admin) Thank you for answering my first question, I am delighted with the features offered by the project, every week they are updating and making important changes that help to improve the ecosystem that surrounds the team.
Here you can find all the weekly updates: https://nano.org/en
Previously the project was called RaiBlocks, it appeared for the first time in an ad in Bitcoin Talk in 2015. Can you tell us why a name change came up later?
-(Zach) Yeah, absolutely. Although the original RaiBlocks name has a special place in our history, it was difficult to pronounce in some areas of the world and caused confusion with certain users. We decided to move to a shorter name that not only was easy to pronounce but also reflected the fast, efficient nature of the protocol.
-(Admin) A short and quick name to pronounce, definitely NANO is perfect to define it!
My third question is the following; I had seen a very interesting gif early in the chat and it is just about the question that I came to ask.
Currently, NANO has 100% of its tokens in circulation and these tokens were distributed through Faucets, so it meant that any user with a computer could get coins simply by completing some captchas, can you tell me which has been the experience of users when using this method?
-(Colin) The faucet was a great way for us to distribute coins to people who have never used it before. Cryptocurrencies that use mining end up distributing only to people who have money to buy the mining hardware and this is unfair. We had a lot of people from Indonesia and Asia in the beginning of our distribution and at the end there were a lot of people from South America, Venezuela and Brasil that were getting most of the Nano from the faucet. We think this was a fairer way to do it and it got Nano into the hands of people in different locations, and it had a very positive impact on their lives.
-(Admin) This is incredible! thanks for your answer!
Can you tell us about what the Open Representative Vote is about and how it protects the network?
-(Zach) Nano uses voting to get confirmation on the network instead of mining and the nodes on the network that create votes are called Representatives. Open Representative Voting allows people who have a Nano balance to pick whatever representative they want to vote on their behalf. This allows the people who hold Nano to decide who generates consensus instead of mining companies. The voting process is very efficient and is a big part of what allows Nano to be fee-less and use very little energy.
-(Admin) Very good! The last question on my part:
Nano PoW is your new approach, I have read a pretty interesting example with emails, can you explain what it is about?
-(Colin) Nano PoW is a research project we’re doing in order to create a proof of work algorithm that uses less energy than other popular algorithms. Since Nano is fee-less, there must be a method to limit transactions going onto the network, which this PoW achieves. With the goal of using more memory in the process instead of CPU cycles in order to generate proofs, this new Nano PoW will help prevent ASICs from being able to cheaply send lots of transactions. It’s important for a cryptocurrency that’s used around the world to be energy efficient and green so continuing our research on this is important to us.
-(Admin) https://medium.com/nanocurrency/nano-pow-the-details-ba22a9092d6f
Thanks for your answers, Colin and Zach! I have a video, taken from your YouTube account that I would like to share with the community
https://www.youtube.com/watch?v=eh9pA8UCUrI
Can you tell me what we see in this video?
-(Colin) This is a video of how fast our transactions send and receive. You can see it takes less than 1 second to finish which means you can use it as a currency.
- (Zach) The wallet was made by developers in our amazing community, it is called Natrium. It really shows how fast Nano is and how it is easy-to-use!
-(Colin) You can also see how simple it is to use. You just scan, enter an amount, and send. There are no complicated setting which is great for new users and great for adoption.
- (Zach) And the best part is, there were no fees at all for that transaction. In fact there have never been any transaction fees on the Nano network ever!
-(Admin) Great! That's why I wanted to share it with everyone, yesterday I could try the wallet and it is really spectacular to use, thank you very much for that excellent explanation, please stay with us, now comes the part in which our users participate
Segment 3, community questions
Q -First congratulations on your project, it is amazing. Now, does nano BlockChain have another use besides making transactions?
A - (Zach) Thank you! Nano has always been focused on transfer of value and will continue to maintain that focus. The overall design is aimed at doing only this so it can remain fast, efficient and fee-less.
Q -Good evening! I understand that thanks to its architecture called "Block-lattice", each individual provides the computing power necessary to verify their own transaction, thanks to this they do not use miners to confirm transactions and they do not apply commissions of any kind. My question is: How did this occur and how difficult was it?
A - (Colin) It’s simila, transactions are validated by votes from the representatives, not by the PoW. The PoW is a way to slow down how fast people can create transactions so they can’t spam the network.
Q - Do you have any short or long term projects so that transactions using $NANO were anonymous?
A - (Colin) Long term we want to see what privacy options exist and are fast. Most privacy schemes make the transactions very big or slow to process and it’s important for things to remain quick and efficient so we can have fast transactions.
Q - We are living in Venezuela many changes in the cryptocurrency sector, the integration of crypto for service payment and product purchases is already a reality. What agreements has NANO made with service stores to integrate it as a means of payment? I want to pay my movie ticket with NANOS
A - (Zach) Thanks for your interest in Nano. We are always looking for ways to allow everyone to use Nano in as many places as possible. Although separate from our organization, we are aware of the efforts of the Nano Venezuela organization and try to support them when possible in bringing Nano to as many people and stores in Venezuela as possible.
Q - (7 questions made from one persone at once)
  1. How do you manage to make your transactions virtually instantaneous?
  2. How do they create part of the company's livelihood if no fees are charged for transactions?
  3. Why does $ NANO consume so little electricity?
  4. Requirements for a medium-sized company to adopt nano correctly as a means of payment?
  5. Since 100% of the $ NANOS are distributed, I have seen something in Medium that talked about `` Nano PoW '', could you tell me a little more about how it works? What profit will the person / institution get that puts hardware for their PoW? Will more $ NANO be created apart from those already in circulation?
  6. What do the representatives earn for putting their vote and validating blocks if 100% of the $ NANOS are already created / issued?
7- Since your policy / slogan / commandment is to be a cryptocurrency without fees, shouldn't you force exchanges in which $ NANO is present that they don't charge withdrawal fees?
A - (Colin)
  1. Transactions are fast because they’re validated by voting. The votes get transmitted around the world in milliseconds and all people have to do is count votes to confirm the transaction.
  2. We use the Dev fund to pay for developing the Nano protocol. The Nano protocol is a free tool that other people can build businesses on. We have ideas for businesses that can use fast, free money in order to help people send money to their family in other countries or pay microtransactions. It’s similar to Linux, it’s free but big companies use it because it saves them money.
  3. Nano uses little electricity because we use voting for validating transactions. Voting is just sending data over the internet which is power efficient.
  4. You can run a nano node with 40-60$/mo using cloud virtual machines
  5. Nano pow is just a more efficient way to slow people down from sending transactions to the network
  6. The most important thing is: why does a company want to use cryptocurrency? They want to use it because it saves them money on bank fees, etc. Since 40-60$/mo running a node is less expensive than their bank fees, they want to participate in the network to keep it going and save them money.
Q - Knowing all this about Nano, could you say that Nano is one of the most energy-efficient, Ecological friendly currencies in existence?
A -(Zach) Absolutely. We care about making a positive change in the world and so pride ourselves on leaving as little energy trace possible in the world. It may just be the fastest, most efficient transfer of value available.
Q - If the nano protocol had not passed the Red4Sec signature security test, would it have any vulnerability today?
A - (Colin) The Red4Sec audit didn’t find any critiral vulnerabilities in Nano. In fact they did the audit twice because they couldn’t find anything wrong and that never happened before.
It’s important for us to keep the code high quality and we will do audits again in the future because it’s important to make sure everything is secure.
Q - I'd like to see more development of Nano by using SMS on our phones to avoid the problem of no Internet connection at the moment
A -(Zach) As much as we like the idea of SMS, unfortunately it is not a secure network so managing Nano transactions over it brings some unique requirements. However we are always innovating and trying to make Nano as easy and accessible as possible so hope advances can help over time make it more accessible in this area.
Q - What plans do you have to close this 2019 to increase adoption in Latin America?
A -(Colin) We are very excited about the passion we see in the south american community. We would love to make it down to VE however in the mean time follow nanoVE for updates and meetups - there may be one near you soon!
Q - How will you make the adoption and use of $ NANO continue to increase especially in markets where other cryptocurrencies are gaining more ground?
A - (Colin) Our focus is to build tools people need to accept cryptocurrency. Right now it’s still difficulty and expensive. One thing we’re making is the device Appia which can accept cryptocurrency similar to a credit card. We made this device very inexpensive and can connect over wireless so it can be used in markets or resturaunts or other places cryptocurrency is not yet available.
- (Admin) Thank you very much for your answers! You are the first guests that answer all the questions of our users, you are amazing guys!
@AndyNano It was amazing to meet you, I learned a lot from you
@FundacionNanoVE Thanks for making this happen! excellent work
@nano_isam Thanks for everything buddy!
-(Zach) Can we ask a question to the channel?
What are the top things Nano can do to help you in your daily lives?
-(Colin) My question: How do you store cryptocurrency safely? Where do you back up your seed so it isn’t lost or stolen?
A - In Venezuela we currently have a problem with conventional payment processors, they are very slow, it would be great to be able to see people using NANO to make their purchases at any store in Venezuela, 0 commissions and instant transactions, is what we need
A - Fast transactions are what can help society the most, and except that, the best thing is that it is very cheap ... from there it is addition, those are the main characteristics that we look for the most
A - encrypted file in a pendrive
A - Nano is a direct competition to the vast majority of Cryptos, in transaction speed and that it is literally free to send or receive, nothing to wait for 5 hours or the next day when you pay for items or services with Crypto, let's increase the adoption of nano!
-(Colin) Question: Are there barriers to using Nano in your country right now?
A - No barriers in Venezuela
A - No barrier what is lacking is greater diffusion in means to give greater projection and that the adoption arrives. Here I am to support NANO!
A - There should be no barriers to the payments we wish to make, freedom above all
-(Colin) Fantastic!
- (Zach) Thanks everyone, I have to go but I appreciate all the awesome questions and answers!
submitted by AlejandroZD58 to nanocurrency [link] [comments]

Read: An open letter to bitcoin miner

https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0
Dear Bitcoin Miner,
My name is Jonald, and I am a Bitcoin investor.
I bought my first Bitcoins in 2013 and have been active on the Bitcointalk forum since March, 2014. I’m also a small business owner that actually uses Bitcoin for
Since Bitcoin investors and miners need each other to succeed, I wanted to take a minute to reach out to you, and send a sincere message from a “real Bitcoiner”. I’ll cut right to the chase:
I’m concerned. I believe we urgently need to find a scaling solution, and I believe the best solution is to increase the blocksize.
At least, hear me out.
Why Should You Listen to Me?
There’s a huge amount of misinformation, dishonesty, and political agendas attached to the Great Scaling Debate. The situation is serious and there’s a lot at stake here.
I am not beholden to any special interests. No one is paying me to write this. I am not a contributor to any Bitcoin projects, but I am quite familiar with the scaling topic because I’ve been following it for some time now, and I am knowledgeable enough to clearly understand the technical details.
I’ve heard all the arguments from every side of the debate, and I want to give you my honest, unbiased, unfiltered understanding of the situation.
Let’s Start At the Beginning
In 2008, Satoshi Nakamoto published a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. Everybody knows this, but the exact title needs to be repeated because today, even the most basic facets of Bitcoin are being challenged. Should Bitcoin really be “cash” or instead “digital gold”? And if we follow Satoshi’s plan, is it really peer to peer?
These questions come not so much from open-minded inquiry, but rather from a biased agenda. This would have been inconceivable a few years ago, but now things have become so political, that certain people even want to re-write the Bitcoin whitepaper.
(Attempting to re-write history has always been a favorite tactic of tyrannical elites.)
Satoshi’s Vision to Scale Bitcoin
Regardless of “which side” of the scaling debate you are on, it should not be contested that Satoshi always planned for and advocated for simple, on-chain scaling.
When asked how Bitcoin would scale to Visa-like levels, he said:
Long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section 8) to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.
The bandwidth might not be as prohibitive as you think. A typical transaction would be about 400 bytes (ECC is nicely compact). Each transaction has to be broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day. That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices.
If the network were to get that big, it would take several years, and by then, sending 2 HD movies over the Internet would probably not seem like a big deal.
Satoshi Nakamoto
Source
Disturbingly, this simple quote from Satoshi was moderated (deleted) from the bitcoin reddit page. I’ll revisit the censorship issue in a moment.
Another important fact is that the current blocksize limit of 1mb was intended to be a temporary measure. This was something ‘everyone’ knew before the debate became politicized.
One of the earliest code reviewers, Ray Dillinger, explained that he, Hal Finey, and Satoshi all agreed the limit was to be temporary.
Satoshi also provided the means to raise the limit with his famous quote:
It can be phased in, like:
if (blocknumber > 115000) maxblocksize = largerlimit
Here is one more explanation from Satoshi, in an email to Mike Hearn, about why Bitcoin never hits a scaling ceiling.
Sure, Satoshi isn’t God. The point isn’t to appeal to his authority, but simply to remember that Bitcoin always had a scaling plan in place from the beginning.
…But the “Core Devs” Had Other Ideas.
The history of the current crop of Bitcoin Core developers has been already summarized and described elsewhere.
Explanations have been given for the unproductive scaling conferences, the broken Hong Kong agreements, and so on, but it should be extremely clear to everyone, based on years of their behavior (and even their own words), that the Core group does not want to scale Bitcoin with a simple blocksize increase.
In fact, they (and their supporters) have done everything in their power to prevent this, including engaging in massive censorship.
Their primary arguments are as follows:
It is problematic to raise the limit because it requires a hard fork, which is difficult to coordinate.Bitcoin nodes should be as inexpensive to run as possible, otherwise the decentralization of Bitcoin will be threatened.Without a constraint on the blocksize, Bitcoin won’t be secure once subsidies (block rewards) decline.
None of These Arguments Have Sufficient Merit to Forestall a Blocksize Increase
I am not saying the arguments are entirely without merit. Few things in life are ever 100% black-and-white. But we have to weigh the merits of these positions against the alternatives, and against other factors in the Bitcoin ecosystem.
Let’s take one at a time:
The “Hard Forks Are Dangerous” Myth
This was a prominent talking point in 2014–2015. However, the truth is that hard forks (HF) are not necessarily dangerous, especially if they occur with a clear majority of hashing power supporting the upgraded consensus rules.
The previous group of developers, including Gavin Andresen, Jeff Garzik, and Mike Hearn, all supported upgrading Bitcoin with hard forks.
Initially, the discussion was whether the new maximum blocksize would be 2MB, 4MB, or 8MB. What begin as a minor difference of opinions between the miners somehow snowballed into a potent meme that consensus over scaling was going to be difficult.
The developers starting adding their own opinions about hard forks, creating additional friction. Yes, it is easy to claim there is contention when you are among those being contentious!
Core has no official leadership positions or governance structure. Because of this, it has been easy to justify inaction by simply concluding that “there’s no consensus”. And since they control the reference code repository, their refusal to raise the limit effects everyone else.
In practice, Core does have leaders. How else can it be explained that segwit was merged into the code (even if not activated) with practically no public debate whatsoever?
On a side note, prominent Core developers have denied that Core decides what code is published, and have denied there is any leadership. This is an example of the kind of constant misinformation that is being generated on a daily basis.
Back to the HF issue:
Many altcoins like Monero have regular hard forks. Coordination between major players in an ecosystem is not a big challenge if everyone is on the same page.
So far, I have not heard of a single problem that an altcoin had in performing a network upgrade via hard fork. So, there is evidence that they can be done safely.
In addition, if Core admits in their roadmap that eventually the blocksize will need to be increased, then why not do it now when it is badly needed? There is no logical reason why it would be more risky now rather than later.
Decentralization Myths
There are actually several myths surrounding the issue of decentralization. Let’s address the obvious ones:
The most ludicrous is the “all users should be running full nodes” idea.
As others have explained, there is no security provided to the network by non-mining ‘full nodes’. Only mining nodes secure and extend Bitcon’s distributed ledger.
The white paper explains why most users do not need to run full nodes:
It is possible to verify payments without running a full network node. A user only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he’s convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it’s timestamped in. He can’t check the transaction for himself, but by linking it to a place in the chain, he can see that a network node has accepted it, and blocks added after it further confirm the network has accepted it… …Businesses that receive frequent payments will probably still want to run their own nodes for more independent security and quicker verification.
The idea that a lot of non-mining full nodes will make the network more decentralized (because they can make sure the miners are behaving) is erroneous, because an SPV client can already query the network’s nodes. Generally, there would only be a problem if a majority mining of nodes were colluding dishonestly, in which case Bitcoin would be already broken.
A more valid concern is that as nodes become more expensive, eventually only large corporations will run nodes. It is true that node costs will increase over time as the network grows. However, storage, bandwidth, and processing capabilities are also constantly increasing.
Just as important: By the time that capacity increases — lets say from 3 TPS (transactions per second) to 30 TPS — the network will be so large that it likely won’t be any less decentralized, even if it costs more to run a node.
At 3000 TPS, Bitcoin would be highly dominant globally, and making use of the millions of datacenters and servers available worldwide. This was always the plan.
The Alternative Vision of Bitcoin Holds Decentralization Risks That Are Worse
Many users are not aware of the decentralization risks that come with the small-node/small-block vision of Bitcoin. Core’s vision for Bitcoin is to transform the peer-to-peer cash system into some kind of settlement network.
While this would be a way to keep node costs minimal, most users would be economically forced off the main chain because they cannot compete with institutions for fees. They would then need to get permission from trusted third parties to transact.
In my opinion, this represents a much more dangerous form of centralization than bigger blocks and expensive nodes.
The Fee-Market Failure Myth
The third primary argument of the small-block philosophy is that eventually, block rewards will run out, and mining fees will be the sole source of funding security. They then claim that without limiting the supply of transaction space, miners will be hopelessly caught in a tragedy-of-the-commons price war, with the users paying rock bottom fees, leading to a collapse of commercial mining.
There’s a few problems with this argument.
First of all, there is a natural market for every good and service in the world. There have been many price wars, but nothing with high demand ever stops being produced.
The concern that the network hashrate will become too low is based on several assumptions and variables, including the number of daily transactions, the willingness of the users to wait for confirmations, the willingness of the users to pay small amounts, the behavior of the miners, the fee policies set by various wallets, the emergent consensus on acceptable fees by the mining community, and other factors, including what actually is “too low” of a network hashrate in the first place.
The hypothetical failure of the natural fee market depends on all these assumptions combining into an unfavorable outcome, as well as the inability of the system to adjust itself favorably using any of these factors.
But, by far the biggest reason that this argument is bunk, is that it will be decades before the majority of the subsidies actually disappear.
Pure Foolishness: Overplanning the Future While Ignoring Urgent Issues Today
Why implement a plan that might help Bitcoin in 20–30 years, if it requires you to damage the user experience and erode the adoption and network effect of Bitcoin, today?
In the case of Bitcoin, it’s completely unnecessary to plan ahead that far, and the destructive consequences are already being seen.
This is the biggest reason why Core’s position should be considered indefensible. Even if their arguments have merit, it is more important to keep Bitcoin healthy right now, stay competitive, and keep the user base growing than to prevent the problems that may or may not happen later.
Even worse, those prevention plans work in direct opposition to the short term goals!
It is no less insane than demanding a bedridden hospital patient, badly in need of rest, to immediately go outside and start running laps because “exercise will help you live longer”.
What About Segwit?
It is my understanding that at “the Hong Kong meeting”, the miners agreed to Segwit PLUS a hardfork blocksize increase because they didn’t trust the Core team enough to offer satisfactory scaling in a timely manner.
I think their decision was smart. Core cannot be trusted. However, if Core changed their mind today, and agreed to the 2MB+Segwit, I would support that as a compromise to break the impasse.
They seem to be unwilling to do this.
Since miners are unwilling to accept segwit on its own, and since Core will not compromise, the only logical alternative is bigger blocks, which is the best option regardless.
What Core Wants
You may be wondering: How is it possible for people as intelligent as the Bitcoin Core developers to fail to see the obvious mistakes in their thinking?
American author Upton Sinclair’s famous quote comes to mind:
It is difficult to get a man to understand something, when his salary depends upon his not understanding it!
The Core team and their supporters want to change Bitcoin into a settlement network. They will deny this, but in my opinion, all of their actions point to this logical conclusion.
This is why they are against on chain scaling, and why segwit offers as little of it as possible while supporting their “HF are bad” narrative.
Additionally, I believe they also want to control public opinion by employing key individuals, by their associates and moderation policies on various platforms, and with an army of trolls.
They also intimidate and punish businesses that don’t fall in line. For example, coinbase.com was delisted from bitcoin.org for supporting Bitcoin XT instead of the Core client.
Despite these shenanigans, companies do support bigger blocks and on-chain scaling.
Most importantly, they want to scare you, the miner, into believing that the community doesn’t really want big blocks and if that if you mine big blocks, you’ll be forked off to a worthless coin and left with worthless ASICs.
Do not let them intimidate you.
What the Users Want
Most users just want a Bitcoin that works. They do not want slow confirmation and high fees. Most Bitcoiners that use bitcoin frequently understand the issues and support bigger blocks.
Despite all the trolling and propaganda, users controlling actual coins vote overwhelmingly in favor of Satoshi’s scaling plan.
The “Healthy Fee Market” is Already Unhealthy
Even IF a centrally planned fee market was a good idea right now, it is being managed poorly. A “healthy” fee market should strive to provide adequate fee revenue while at the same time provide a good user experience and promote growth of the network and user base.
While miner revenue is certainly adequate, the user experience is severely degraded because of slow confirmations and high fees, and this is definitely not attractive or conducive to growing the user base.
If keeping the blocksize at 1mb was an experiment to see how the fee market would develop, it has already played out its usefulness. To keep fees at a level competitive with other coins, supply must catch up with demand (we must raise the blocksize) . But these developers seem to have no interest in doing so. They would rather carry on with their agenda than serve the users.
What About Bitcoin As a Store-of-Value or as “Digital Gold”?
The great thing about Bitcoin is that it can be both a cash-like payment system and a gold-like store of value. These two aspects enhance each other.
Exposed to the propaganda that Bitcoin can’t scale as electronic cash, some users have said “that’s ok. I’m fine with Bitcoin being digital gold only”. The problem with this thinking is that Bitcoin has competition.
If another coin is useful to store value AND to transact cheaply with, it severely undermines Bitcon’s appeal to investors. At the same time, it greatly dampens demand for actual usage.
Sure, its possible that Bitcoin could survive in some form as digital gold, but it would be at a huge disadvantage.
Small Blocks Destroy Miner Revenue
At first glance, the idea that smaller blocks are bad for mining revenue may appear incorrect, since fee rates have recently exploded based on the demand of Bitcoin transactions outpacing the supply of space in the blocks.
However, this trend cannot continue for long, since users will only pay so much. At the same time, new users and new demand are being shut out from the ecosystem.
To use an analogy: Who makes more money — the farmer in town “A” selling milk from one cow? Or the farmer in town “B” selling milk from 8 cows? Townspeople in “A” might pay more per bottle, but they’ll only pay so much for it. They will start drinking something else, drink milk less often, or import their milk from another town.
Bitcoin miners simply cannot meet the demands of users at fees they are willing to reasonably pay if blocks are restricted to 1mb… and users will find satisfactory alternatives which are quickly becoming abundant.
The situation will become even worse in the long run if Core is allowed to create “second layer solutions”, because those solutions will probably not be free, and they will further absorb the money that users are willing to spend in order to transact.
This will be bad for miners, and bad for network security. It will make bitcoin even less competitive, and money will leave the ecosystem.
Price Always Lags Behind Fundamentals
It is easy to look at a high Bitcoin price and think that everything is fine. If things were going so badly, why isn’t the price dropping?
But, price doesn’t always reflect the underlying fundamentals of a market in the short term.
In the long run, fundamentals always dictate the direction of the market. Daytraders are flat at the end of the day. Speculators come and go. In the end, it’s only the long term investors and the non-speculative demand that determines the price.
The fundamental value of Bitcoin primarily comes from its usefulness as a payment system. If that system ceases to be useful, Bitcoin will cease to be valuable.
Time To Act. Let’s Help Bitcoin Grow Again.
It’s always better to fix a problem BEFORE it gets too big. As they say, “an ounce of prevention is worth a pound of cure”.
If we wait until the Bitcoin price crashes because Bitcoin is unusable as a currency, it will be too late. We would have already lost serious momentum, marketshare, users, reputation, and merchants.
This is already happening, but there is still time to act.
I urge you: don’t be complacent.
You are the miner. You have the power. Start signaling for bigger blocks today, and let’s make sure Bitcoin stays #1.
Help Spread the Word
If you’re not a miner, but a concerned investor like myself, then please spread this message far and wide, and ask the miners and pools that you know for bigger blocks.
Addendum
This article is available in several foreign language formats:
Chinese Spanish Japanese German Russian
https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0
submitted by german_bitcoiner to btc [link] [comments]

NANO #AMA ON BINANCE SPANISH TELEGRAM GROUP!!

Regards!! I'm Jesús Zambrano, member of the Hispanic community of NANO for a long time. Last thursday, we had an interesting and enjoying Ask-me-anything at Binance Spanish community on telegram with the people behind NANO, Colin LeMahieu (Founder and Executive Director) and Zach Hyatt (Proyect Manager), where we take advantage of their kindness and willingness to ask them some questions and share opinions about de currency. I will share a compilation of some of the questions and answers.
-(Admin) ¡Welcome Binancians to our following AMA!
I will explain how AMA works; we will have three (3) segments.
Segment #1: I am going to ask to our guests five (5) questions and then they will answer them.
I will be explaining the rest of the segments as we conclude one of them.
-(Admin) Today we have the great pleasure of having Colin (Founder and Executive Director) and Zach (Project Manager) with us in our chat room. Could you give us a little introduction about you?
- (Zach) Hi everyone, I am Zach Hyatt, the Project Manager at the Nano Foundation and am excited to help answer questions about Nano. I live in Austin, TX where it is quite hot right now!
-(Colin) I’m Colin LeMahieu, founder of Nano. I’m a computer engineer and I’ve worked at companies like Qualcomm, Dell, and AMD. I have been working on Nano for about 5 years now and I’m really excited to talk with people who are interested as well!
-(Admin) It is a pleasure for us to have you here, I have to say that on a personal level, I have been a follower of the project for a long time now, so it is incredible for me to be able to count on you tonight, we will start with segment # 1, with the questions I have for you.
Feeless transactions and in record time! What is NANO? Can you give us an introduction to the project?
-(Colin) Nano’s goal is to solve problems with other cryptocurrencies and make sending value fast and fee-less. It has a unique design to allow us to accomplish this. We want people to have the option of using decentralized digital money instead of fiat money anywhere in the world. Nano is accessible and easy-to-use today and we plan on keeping it focused on these goals.
-(Admin) Thank you for answering my first question, I am delighted with the features offered by the project, every week they are updating and making important changes that help to improve the ecosystem that surrounds the team.
Here you can find all the weekly updates: https://nano.org/en
Previously the project was called RaiBlocks, it appeared for the first time in an ad in Bitcoin Talk in 2015. Can you tell us why a name change came up later?
-(Zach) Yeah, absolutely. Although the original RaiBlocks name has a special place in our history, it was difficult to pronounce in some areas of the world and caused confusion with certain users. We decided to move to a shorter name that not only was easy to pronounce but also reflected the fast, efficient nature of the protocol.
-(Admin) A short and quick name to pronounce, definitely NANO is perfect to define it!
My third question is the following; I had seen a very interesting gif early in the chat and it is just about the question that I came to ask.
Currently, NANO has 100% of its tokens in circulation and these tokens were distributed through Faucets, so it meant that any user with a computer could get coins simply by completing some captchas, can you tell me which has been the experience of users when using this method?
-(Colin) The faucet was a great way for us to distribute coins to people who have never used it before. Cryptocurrencies that use mining end up distributing only to people who have money to buy the mining hardware and this is unfair. We had a lot of people from Indonesia and Asia in the beginning of our distribution and at the end there were a lot of people from South America, Venezuela and Brasil that were getting most of the Nano from the faucet. We think this was a fairer way to do it and it got Nano into the hands of people in different locations, and it had a very positive impact on their lives.
-(Admin) This is incredible! thanks for your answer!
Can you tell us about what the Open Representative Vote is about and how it protects the network?
-(Zach) Nano uses voting to get confirmation on the network instead of mining and the nodes on the network that create votes are called Representatives. Open Representative Voting allows people who have a Nano balance to pick whatever representative they want to vote on their behalf. This allows the people who hold Nano to decide who generates consensus instead of mining companies. The voting process is very efficient and is a big part of what allows Nano to be fee-less and use very little energy.
-(Admin) Very good! The last question on my part:
Nano PoW is your new approach, I have read a pretty interesting example with emails, can you explain what it is about?
-(Colin) Nano PoW is a research project we’re doing in order to create a proof of work algorithm that uses less energy than other popular algorithms. Since Nano is fee-less, there must be a method to limit transactions going onto the network, which this PoW achieves. With the goal of using more memory in the process instead of CPU cycles in order to generate proofs, this new Nano PoW will help prevent ASICs from being able to cheaply send lots of transactions. It’s important for a cryptocurrency that’s used around the world to be energy efficient and green so continuing our research on this is important to us.
-(Admin) https://medium.com/nanocurrency/nano-pow-the-details-ba22a9092d6f
Thanks for your answers, Colin and Zach! I have a video, taken from your YouTube account that I would like to share with the community
https://www.youtube.com/watch?v=eh9pA8UCUrI
Can you tell me what we see in this video?
-(Colin) This is a video of how fast our transactions send and receive. You can see it takes less than 1 second to finish which means you can use it as a currency.
- (Zach) The wallet was made by developers in our amazing community, it is called Natrium. It really shows how fast Nano is and how it is easy-to-use!
-(Colin) You can also see how simple it is to use. You just scan, enter an amount, and send. There are no complicated setting which is great for new users and great for adoption.
- (Zach) And the best part is, there were no fees at all for that transaction. In fact there have never been any transaction fees on the Nano network ever!
-(Admin) Great! That's why I wanted to share it with everyone, yesterday I could try the wallet and it is really spectacular to use, thank you very much for that excellent explanation, please stay with us, now comes the part in which our users participate
Segment 3, community questions
Q -First congratulations on your project, it is amazing. Now, does nano BlockChain have another use besides making transactions?
A - (Zach) Thank you! Nano has always been focused on transfer of value and will continue to maintain that focus. The overall design is aimed at doing only this so it can remain fast, efficient and fee-less.
Q -Good evening! I understand that thanks to its architecture called "Block-lattice", each individual provides the computing power necessary to verify their own transaction, thanks to this they do not use miners to confirm transactions and they do not apply commissions of any kind. My question is: How did this occur and how difficult was it?
A - (Colin) It’s simila, transactions are validated by votes from the representatives, not by the PoW. The PoW is a way to slow down how fast people can create transactions so they can’t spam the network.
Q - Do you have any short or long term projects so that transactions using $NANO were anonymous?
A - (Colin) Long term we want to see what privacy options exist and are fast. Most privacy schemes make the transactions very big or slow to process and it’s important for things to remain quick and efficient so we can have fast transactions.
Q - We are living in Venezuela many changes in the cryptocurrency sector, the integration of crypto for service payment and product purchases is already a reality. What agreements has NANO made with service stores to integrate it as a means of payment? I want to pay my movie ticket with NANOS
A - (Zach) Thanks for your interest in Nano. We are always looking for ways to allow everyone to use Nano in as many places as possible. Although separate from our organization, we are aware of the efforts of the Nano Venezuela organization and try to support them when possible in bringing Nano to as many people and stores in Venezuela as possible.
Q - (7 questions made from one persone at once)
  1. How do you manage to make your transactions virtually instantaneous?
  2. How do they create part of the company's livelihood if no fees are charged for transactions?
  3. Why does $ NANO consume so little electricity?
  4. Requirements for a medium-sized company to adopt nano correctly as a means of payment?
  5. Since 100% of the $ NANOS are distributed, I have seen something in Medium that talked about `` Nano PoW '', could you tell me a little more about how it works? What profit will the person / institution get that puts hardware for their PoW? Will more $ NANO be created apart from those already in circulation?
  6. What do the representatives earn for putting their vote and validating blocks if 100% of the $ NANOS are already created / issued?
7- Since your policy / slogan / commandment is to be a cryptocurrency without fees, shouldn't you force exchanges in which $ NANO is present that they don't charge withdrawal fees?
A - (Colin)
  1. Transactions are fast because they’re validated by voting. The votes get transmitted around the world in milliseconds and all people have to do is count votes to confirm the transaction.
  2. We use the Dev fund to pay for developing the Nano protocol. The Nano protocol is a free tool that other people can build businesses on. We have ideas for businesses that can use fast, free money in order to help people send money to their family in other countries or pay microtransactions. It’s similar to Linux, it’s free but big companies use it because it saves them money.
  3. Nano uses little electricity because we use voting for validating transactions. Voting is just sending data over the internet which is power efficient.
  4. You can run a nano node with 40-60$/mo using cloud virtual machines
  5. Nano pow is just a more efficient way to slow people down from sending transactions to the network
  6. The most important thing is: why does a company want to use cryptocurrency? They want to use it because it saves them money on bank fees, etc. Since 40-60$/mo running a node is less expensive than their bank fees, they want to participate in the network to keep it going and save them money.
Q - Knowing all this about Nano, could you say that Nano is one of the most energy-efficient, Ecological friendly currencies in existence?
A -(Zach) Absolutely. We care about making a positive change in the world and so pride ourselves on leaving as little energy trace possible in the world. It may just be the fastest, most efficient transfer of value available.
Q - If the nano protocol had not passed the Red4Sec signature security test, would it have any vulnerability today?
A - (Colin) The Red4Sec audit didn’t find any critiral vulnerabilities in Nano. In fact they did the audit twice because they couldn’t find anything wrong and that never happened before.
It’s important for us to keep the code high quality and we will do audits again in the future because it’s important to make sure everything is secure.
Q - I'd like to see more development of Nano by using SMS on our phones to avoid the problem of no Internet connection at the moment
A -(Zach) As much as we like the idea of SMS, unfortunately it is not a secure network so managing Nano transactions over it brings some unique requirements. However we are always innovating and trying to make Nano as easy and accessible as possible so hope advances can help over time make it more accessible in this area.
Q - What plans do you have to close this 2019 to increase adoption in Latin America?
A -(Colin) We are very excited about the passion we see in the south american community. We would love to make it down to VE however in the mean time follow nanoVE for updates and meetups - there may be one near you soon!
Q - How will you make the adoption and use of $ NANO continue to increase especially in markets where other cryptocurrencies are gaining more ground?
A - (Colin) Our focus is to build tools people need to accept cryptocurrency. Right now it’s still difficulty and expensive. One thing we’re making is the device Appia which can accept cryptocurrency similar to a credit card. We made this device very inexpensive and can connect over wireless so it can be used in markets or resturaunts or other places cryptocurrency is not yet available.
- (Admin) Thank you very much for your answers! You are the first guests that answer all the questions of our users, you are amazing guys!
@AndyNano It was amazing to meet you, I learned a lot from you
@FundacionNanoVE Thanks for making this happen! excellent work
@nano_isam Thanks for everything buddy!
-(Zach) Can we ask a question to the channel?
What are the top things Nano can do to help you in your daily lives?
-(Colin) My question: How do you store cryptocurrency safely? Where do you back up your seed so it isn’t lost or stolen?
A - In Venezuela we currently have a problem with conventional payment processors, they are very slow, it would be great to be able to see people using NANO to make their purchases at any store in Venezuela, 0 commissions and instant transactions, is what we need
A - Fast transactions are what can help society the most, and except that, the best thing is that it is very cheap ... from there it is addition, those are the main characteristics that we look for the most
A - encrypted file in a pendrive
A - Nano is a direct competition to the vast majority of Cryptos, in transaction speed and that it is literally free to send or receive, nothing to wait for 5 hours or the next day when you pay for items or services with Crypto, let's increase the adoption of nano!
-(Colin) Question: Are there barriers to using Nano in your country right now?
A - No barriers in Venezuela
A - No barrier what is lacking is greater diffusion in means to give greater projection and that the adoption arrives. Here I am to support NANO!
A - There should be no barriers to the payments we wish to make, freedom above all
-(Colin) Fantastic!
- (Zach) Thanks everyone, I have to go but I appreciate all the awesome questions and answers!
submitted by AlejandroZD58 to u/AlejandroZD58 [link] [comments]

Kaizen Ico : Interview with Fund Manager

Nearly a fourth of its way to completion. I took a moment to catch up with the Fund Manager for the ongoing Kaizen ICO.
https://steemit.com/ico/@cryptokage/kaizen-ico-a-word-with-its-fund-manager
The Kaizen Coin Ico has begun and the cryptokage wanted to know more! Emailing the newly appointed fund manager we discussed the project and learned a little bit about the man behind the coin, Lawrence Fischer.
Originally in an advisory position for the ICO, the thirty-nine (39) year old financial adviser was asked to take over as fund manager amidst changes by the SEC, (DAO tokens became recognized as unregulated securities). When asked about the change in team he responded;
"One problem we have had is the SEC. As all 3 people listed have securities careers up until recently the recent rulings by the SEC basically have scared a lot of people in our sector."
When confronted by the lack of team information on the website he half-jokingly yet poignantly remarked;
" I personally hate social media. I do not have a twitter (outside of the Kaizen one), I have never had the need for a LinkdIn account as I have been working for myself in crypto trading for the last several years. I honestly don't see the need to have my personal life on a pedestal. I am a boring financial guy that sits for 15 hours a day staring at 4 monitors looking for signs of life in a coin."
Understanding his attitude helps to explain the whitepaper which has been criticized as short and bland.
"I actually wish more whitepapers got rid of all the marketing crap and just made the whitepapers about 2 pages. Basically give me the highlights. Kaizen Coin is basically a collection of crypto currency and it pays a dividend in ethereum each quarter. That's all I would have put in the whitepaper. "
I asked him how he got into crypto;
"I got into crypto how a lot of people did, through a friend. Only mine paid a $50 bet he lost with me in 5,000 bitcoin. The terms of the deal were $50, not $50 in bitcoin that I couldn't see, touch, feel. I basically had to take his word on it that it was worth anything at all, and I seriously considered suing his ass. There was no coinbase or Gemini for me to withdraw to fiat. Because it was a low dollar amount, I gave up after a few hours trying to get to it. I later sold it for $500,000. That gave me some financial independence but not enough to go off of for life. It also taught me that there is something to this crypto thing and to be honest, I was a bit embarrassed for not having seen it. I began immersing myself in bitcoin and altcoins. I got in with Ethereum as a new issue and rode that. Late 2015, I began giving friends bitcoin wallets on their cellphones and $50 (what I originally received) and just told them to wait. They told friends and before long I was heading a small investment club. My phone was blowing up for investment advice. I began making youtube videos with several of my picks and the people that came to me had more and more money. I still respond to text messages all hours of the day and night. It is the fuel that keeps me going. Having a education background in sociology and mathematics, I understand and can predict a lot of human behavior. I think this has always been a key in hype with altcoins. As Kaizen gets bigger, I will be bringing on another person. I have actually begun talking to a jr staffer at a VC firm in San Francisco. The hope is he can start looking at some of these ICO through venture capitalists eyes."
Mr Fischer not only has the international resources (The Uruguay HQ location) but the technical and technological capabilities to see such a plan through. Having worked with mining platforms he is well envisioned and prepared for the security challenges holding a digital fund presents.
"Security is very important. For security reasons I cannot go into all measures, but a few of the precautionary ones are as follows: We tweeted the contract address 2 days prior to the launch in regards to some recent coin hacks. As we aren't 'day trading' the accounts, funds are left offline in paper wallets or hardware wallets. Only 2 people have access to funds. We do not advertise where we are located or even a phone number. There is no reason for anyone to visit or call. We are aware of social engineering attempts and actually have a security specialist coming out a week from tomorrow to go over things and inform us of any weaknesses and what we can do better. One area we do not take lightly."
On the more technological standpoint when asked about the change in token strategy he responded;
"The dividends in the form of KZN coin was actually the original plan. We ran with that in an earlier versions of the whitepaper that was sent out to media, coin listing sites, etc. We scrapped that idea as we are minting a finite number of coins with no coins ever being minted further. This would at some point implode the fund or cause it to buyback tokens at a potential premium. We decided a couple weeks before launch to simply make the quarterly dividend payouts using Ethereum to the wallet address the tokens are in. We will be posting both buys and sells after they complete on the site and most likely facebook. There will be monthly progress checks we make internally as well as an audit every 6 months to account for everything. All of this will be posted on the site whether good or bad."
According to coinschedule.com the Kaizen Ico is 19.58% complete and is a day away from completing its Pre-ICO sale.
"We are getting ready to launch some ad campaigns. If target not reached, we will setup a buy wall on one of the exchanges at the price people bought in on and allow people to cash out that no longer want to be involved. Those that do will continue on with us"
Kaizen is not the first crypto fund project and like a lot of Ico's it will be put under a lot of social media scrutiny. I asked Lawrence of any potential problems presented with such a business model?
"I assume you mean a small caliber office like us? Walk into a big chain retail store, then into a small boutique. There is a difference. TAAS fund got to market before us. They are a little bigger. Everyone yelled scam and shitcoin when they started their ICO. They just made their first dividend payment and it was huge. Find me a mutual fund that has a 61% quarterly dividend. We are doing the exact same thing as TAAS, but we have a smaller staff so instead of us keeping 25% profits for ourselves, we keep 5%. I have worked for mutual funds and they could not and would not ever compete with the returns. And that is why sometimes the little guy wins."
So what is stopping lawrence from just running off with the money?
" To be honest, I guess nothing at all physically. People have instilled a trust in us and we plan to reward them with high yields. Over the last few years, I have made more in bitcoin and altcoins that the KaizenCoin is worth, even at the total sellout level. I don't care for flashy things. I still drive a 2014 Toyota Camry. I always thought at this point I was supposed to have a lambo but that really isn't what interests me. If i just one day closed up shop and ran, i'd probably never see my kids/wife again. I am not the type of guy that wants to live life looking over his shoulder either. I like to think I was raised better than that too. In high school I'd go to the movies with all my friends. The plan was to buy one ticket and go from movie to movie once we were inside, theater hop. I always made sure I was the last to buy tickets and i'd buy tickets for all the shows we were planning to see. No one ever checked, my friends never got caught either. I just did it because it was the right thing to do. If I couldn't steal a $4 movie, grand larceny is completely out. I am actually still pondering this question as it is a good question and really should be one I ask before investing in ICO's. I guess whenever a new coin is started, there is hope for a legacy to be built. I don't know if that is the case with me."
In conclusion only time will tell what the Kaizen coin will bring but if this mans words are anything to be believed, Kaizen not only will happen but it may be a force.
I personally will be having a punt and will update here with the results. First dividend is expected in December, will a fool be parted with his money? or will he be rewarded for his intrigue?
*As always, this is not financial advice. Always question the bias of the author and their perspective.
submitted by CryptoKage to icocrypto [link] [comments]

Read: An open letter to bitcoin miner

https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0
Dear Bitcoin Miner,
My name is Jonald, and I am a Bitcoin investor.
I bought my first Bitcoins in 2013 and have been active on the Bitcointalk forum since March, 2014. I’m also a small business owner that actually uses Bitcoin for
Since Bitcoin investors and miners need each other to succeed, I wanted to take a minute to reach out to you, and send a sincere message from a “real Bitcoiner”. I’ll cut right to the chase:
I’m concerned. I believe we urgently need to find a scaling solution, and I believe the best solution is to increase the blocksize.
At least, hear me out.
Why Should You Listen to Me?
There’s a huge amount of misinformation, dishonesty, and political agendas attached to the Great Scaling Debate. The situation is serious and there’s a lot at stake here.
I am not beholden to any special interests. No one is paying me to write this. I am not a contributor to any Bitcoin projects, but I am quite familiar with the scaling topic because I’ve been following it for some time now, and I am knowledgeable enough to clearly understand the technical details.
I’ve heard all the arguments from every side of the debate, and I want to give you my honest, unbiased, unfiltered understanding of the situation.
Let’s Start At the Beginning
In 2008, Satoshi Nakamoto published a paper titled Bitcoin: A Peer-to-Peer Electronic Cash System. Everybody knows this, but the exact title needs to be repeated because today, even the most basic facets of Bitcoin are being challenged. Should Bitcoin really be “cash” or instead “digital gold”? And if we follow Satoshi’s plan, is it really peer to peer?
These questions come not so much from open-minded inquiry, but rather from a biased agenda. This would have been inconceivable a few years ago, but now things have become so political, that certain people even want to re-write the Bitcoin whitepaper.
(Attempting to re-write history has always been a favorite tactic of tyrannical elites.)
Satoshi’s Vision to Scale Bitcoin
Regardless of “which side” of the scaling debate you are on, it should not be contested that Satoshi always planned for and advocated for simple, on-chain scaling.
When asked how Bitcoin would scale to Visa-like levels, he said:
Long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section 8) to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware. A server farm would only need to have one node on the network and the rest of the LAN connects with that one node.
The bandwidth might not be as prohibitive as you think. A typical transaction would be about 400 bytes (ECC is nicely compact). Each transaction has to be broadcast twice, so lets say 1KB per transaction. Visa processed 37 billion transactions in FY2008, or an average of 100 million transactions per day. That many transactions would take 100GB of bandwidth, or the size of 12 DVD or 2 HD quality movies, or about $18 worth of bandwidth at current prices.
If the network were to get that big, it would take several years, and by then, sending 2 HD movies over the Internet would probably not seem like a big deal.
Satoshi Nakamoto
Source
Disturbingly, this simple quote from Satoshi was moderated (deleted) from the bitcoin reddit page. I’ll revisit the censorship issue in a moment.
Another important fact is that the current blocksize limit of 1mb was intended to be a temporary measure. This was something ‘everyone’ knew before the debate became politicized.
One of the earliest code reviewers, Ray Dillinger, explained that he, Hal Finey, and Satoshi all agreed the limit was to be temporary.
Satoshi also provided the means to raise the limit with his famous quote:
It can be phased in, like:
if (blocknumber > 115000) maxblocksize = largerlimit
Here is one more explanation from Satoshi, in an email to Mike Hearn, about why Bitcoin never hits a scaling ceiling.
Sure, Satoshi isn’t God. The point isn’t to appeal to his authority, but simply to remember that Bitcoin always had a scaling plan in place from the beginning.
…But the “Core Devs” Had Other Ideas.
The history of the current crop of Bitcoin Core developers has been already summarized and described elsewhere.
Explanations have been given for the unproductive scaling conferences, the broken Hong Kong agreements, and so on, but it should be extremely clear to everyone, based on years of their behavior (and even their own words), that the Core group does not want to scale Bitcoin with a simple blocksize increase.
In fact, they (and their supporters) have done everything in their power to prevent this, including engaging in massive censorship.
Their primary arguments are as follows:
It is problematic to raise the limit because it requires a hard fork, which is difficult to coordinate.Bitcoin nodes should be as inexpensive to run as possible, otherwise the decentralization of Bitcoin will be threatened.Without a constraint on the blocksize, Bitcoin won’t be secure once subsidies (block rewards) decline.
None of These Arguments Have Sufficient Merit to Forestall a Blocksize Increase
I am not saying the arguments are entirely without merit. Few things in life are ever 100% black-and-white. But we have to weigh the merits of these positions against the alternatives, and against other factors in the Bitcoin ecosystem.
Let’s take one at a time:
The “Hard Forks Are Dangerous” Myth
This was a prominent talking point in 2014–2015. However, the truth is that hard forks (HF) are not necessarily dangerous, especially if they occur with a clear majority of hashing power supporting the upgraded consensus rules.
The previous group of developers, including Gavin Andresen, Jeff Garzik, and Mike Hearn, all supported upgrading Bitcoin with hard forks.
Initially, the discussion was whether the new maximum blocksize would be 2MB, 4MB, or 8MB. What begin as a minor difference of opinions between the miners somehow snowballed into a potent meme that consensus over scaling was going to be difficult.
The developers starting adding their own opinions about hard forks, creating additional friction. Yes, it is easy to claim there is contention when you are among those being contentious!
Core has no official leadership positions or governance structure. Because of this, it has been easy to justify inaction by simply concluding that “there’s no consensus”. And since they control the reference code repository, their refusal to raise the limit effects everyone else.
In practice, Core does have leaders. How else can it be explained that segwit was merged into the code (even if not activated) with practically no public debate whatsoever?
On a side note, prominent Core developers have denied that Core decides what code is published, and have denied there is any leadership. This is an example of the kind of constant misinformation that is being generated on a daily basis.
Back to the HF issue:
Many altcoins like Monero have regular hard forks. Coordination between major players in an ecosystem is not a big challenge if everyone is on the same page.
So far, I have not heard of a single problem that an altcoin had in performing a network upgrade via hard fork. So, there is evidence that they can be done safely.
In addition, if Core admits in their roadmap that eventually the blocksize will need to be increased, then why not do it now when it is badly needed? There is no logical reason why it would be more risky now rather than later.
Decentralization Myths
There are actually several myths surrounding the issue of decentralization. Let’s address the obvious ones:
The most ludicrous is the “all users should be running full nodes” idea.
As others have explained, there is no security provided to the network by non-mining ‘full nodes’. Only mining nodes secure and extend Bitcon’s distributed ledger.
The white paper explains why most users do not need to run full nodes:
It is possible to verify payments without running a full network node. A user only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he’s convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it’s timestamped in. He can’t check the transaction for himself, but by linking it to a place in the chain, he can see that a network node has accepted it, and blocks added after it further confirm the network has accepted it… …Businesses that receive frequent payments will probably still want to run their own nodes for more independent security and quicker verification.
The idea that a lot of non-mining full nodes will make the network more decentralized (because they can make sure the miners are behaving) is erroneous, because an SPV client can already query the network’s nodes. Generally, there would only be a problem if a majority mining of nodes were colluding dishonestly, in which case Bitcoin would be already broken.
A more valid concern is that as nodes become more expensive, eventually only large corporations will run nodes. It is true that node costs will increase over time as the network grows. However, storage, bandwidth, and processing capabilities are also constantly increasing.
Just as important: By the time that capacity increases — lets say from 3 TPS (transactions per second) to 30 TPS — the network will be so large that it likely won’t be any less decentralized, even if it costs more to run a node.
At 3000 TPS, Bitcoin would be highly dominant globally, and making use of the millions of datacenters and servers available worldwide. This was always the plan.
The Alternative Vision of Bitcoin Holds Decentralization Risks That Are Worse
Many users are not aware of the decentralization risks that come with the small-node/small-block vision of Bitcoin. Core’s vision for Bitcoin is to transform the peer-to-peer cash system into some kind of settlement network.
While this would be a way to keep node costs minimal, most users would be economically forced off the main chain because they cannot compete with institutions for fees. They would then need to get permission from trusted third parties to transact.
In my opinion, this represents a much more dangerous form of centralization than bigger blocks and expensive nodes.
The Fee-Market Failure Myth
The third primary argument of the small-block philosophy is that eventually, block rewards will run out, and mining fees will be the sole source of funding security. They then claim that without limiting the supply of transaction space, miners will be hopelessly caught in a tragedy-of-the-commons price war, with the users paying rock bottom fees, leading to a collapse of commercial mining.
There’s a few problems with this argument.
First of all, there is a natural market for every good and service in the world. There have been many price wars, but nothing with high demand ever stops being produced.
The concern that the network hashrate will become too low is based on several assumptions and variables, including the number of daily transactions, the willingness of the users to wait for confirmations, the willingness of the users to pay small amounts, the behavior of the miners, the fee policies set by various wallets, the emergent consensus on acceptable fees by the mining community, and other factors, including what actually is “too low” of a network hashrate in the first place.
The hypothetical failure of the natural fee market depends on all these assumptions combining into an unfavorable outcome, as well as the inability of the system to adjust itself favorably using any of these factors.
But, by far the biggest reason that this argument is bunk, is that it will be decades before the majority of the subsidies actually disappear.
Pure Foolishness: Overplanning the Future While Ignoring Urgent Issues Today
Why implement a plan that might help Bitcoin in 20–30 years, if it requires you to damage the user experience and erode the adoption and network effect of Bitcoin, today?
In the case of Bitcoin, it’s completely unnecessary to plan ahead that far, and the destructive consequences are already being seen.
This is the biggest reason why Core’s position should be considered indefensible. Even if their arguments have merit, it is more important to keep Bitcoin healthy right now, stay competitive, and keep the user base growing than to prevent the problems that may or may not happen later.
Even worse, those prevention plans work in direct opposition to the short term goals!
It is no less insane than demanding a bedridden hospital patient, badly in need of rest, to immediately go outside and start running laps because “exercise will help you live longer”.
What About Segwit?
It is my understanding that at “the Hong Kong meeting”, the miners agreed to Segwit PLUS a hardfork blocksize increase because they didn’t trust the Core team enough to offer satisfactory scaling in a timely manner.
I think their decision was smart. Core cannot be trusted. However, if Core changed their mind today, and agreed to the 2MB+Segwit, I would support that as a compromise to break the impasse.
They seem to be unwilling to do this.
Since miners are unwilling to accept segwit on its own, and since Core will not compromise, the only logical alternative is bigger blocks, which is the best option regardless.
What Core Wants
You may be wondering: How is it possible for people as intelligent as the Bitcoin Core developers to fail to see the obvious mistakes in their thinking?
American author Upton Sinclair’s famous quote comes to mind:
It is difficult to get a man to understand something, when his salary depends upon his not understanding it!
The Core team and their supporters want to change Bitcoin into a settlement network. They will deny this, but in my opinion, all of their actions point to this logical conclusion.
This is why they are against on chain scaling, and why segwit offers as little of it as possible while supporting their “HF are bad” narrative.
Additionally, I believe they also want to control public opinion by employing key individuals, by their associates and moderation policies on various platforms, and with an army of trolls.
They also intimidate and punish businesses that don’t fall in line. For example, coinbase.com was delisted from bitcoin.org for supporting Bitcoin XT instead of the Core client.
Despite these shenanigans, companies do support bigger blocks and on-chain scaling.
Most importantly, they want to scare you, the miner, into believing that the community doesn’t really want big blocks and if that if you mine big blocks, you’ll be forked off to a worthless coin and left with worthless ASICs.
Do not let them intimidate you.
What the Users Want
Most users just want a Bitcoin that works. They do not want slow confirmation and high fees. Most Bitcoiners that use bitcoin frequently understand the issues and support bigger blocks.
Despite all the trolling and propaganda, users controlling actual coins vote overwhelmingly in favor of Satoshi’s scaling plan.
The “Healthy Fee Market” is Already Unhealthy
Even IF a centrally planned fee market was a good idea right now, it is being managed poorly. A “healthy” fee market should strive to provide adequate fee revenue while at the same time provide a good user experience and promote growth of the network and user base.
While miner revenue is certainly adequate, the user experience is severely degraded because of slow confirmations and high fees, and this is definitely not attractive or conducive to growing the user base.
If keeping the blocksize at 1mb was an experiment to see how the fee market would develop, it has already played out its usefulness. To keep fees at a level competitive with other coins, supply must catch up with demand (we must raise the blocksize) . But these developers seem to have no interest in doing so. They would rather carry on with their agenda than serve the users.
What About Bitcoin As a Store-of-Value or as “Digital Gold”?
The great thing about Bitcoin is that it can be both a cash-like payment system and a gold-like store of value. These two aspects enhance each other.
Exposed to the propaganda that Bitcoin can’t scale as electronic cash, some users have said “that’s ok. I’m fine with Bitcoin being digital gold only”. The problem with this thinking is that Bitcoin has competition.
If another coin is useful to store value AND to transact cheaply with, it severely undermines Bitcon’s appeal to investors. At the same time, it greatly dampens demand for actual usage.
Sure, its possible that Bitcoin could survive in some form as digital gold, but it would be at a huge disadvantage.
Small Blocks Destroy Miner Revenue
At first glance, the idea that smaller blocks are bad for mining revenue may appear incorrect, since fee rates have recently exploded based on the demand of Bitcoin transactions outpacing the supply of space in the blocks.
However, this trend cannot continue for long, since users will only pay so much. At the same time, new users and new demand are being shut out from the ecosystem.
To use an analogy: Who makes more money — the farmer in town “A” selling milk from one cow? Or the farmer in town “B” selling milk from 8 cows? Townspeople in “A” might pay more per bottle, but they’ll only pay so much for it. They will start drinking something else, drink milk less often, or import their milk from another town.
Bitcoin miners simply cannot meet the demands of users at fees they are willing to reasonably pay if blocks are restricted to 1mb… and users will find satisfactory alternatives which are quickly becoming abundant.
The situation will become even worse in the long run if Core is allowed to create “second layer solutions”, because those solutions will probably not be free, and they will further absorb the money that users are willing to spend in order to transact.
This will be bad for miners, and bad for network security. It will make bitcoin even less competitive, and money will leave the ecosystem.
Price Always Lags Behind Fundamentals
It is easy to look at a high Bitcoin price and think that everything is fine. If things were going so badly, why isn’t the price dropping?
But, price doesn’t always reflect the underlying fundamentals of a market in the short term.
In the long run, fundamentals always dictate the direction of the market. Daytraders are flat at the end of the day. Speculators come and go. In the end, it’s only the long term investors and the non-speculative demand that determines the price.
The fundamental value of Bitcoin primarily comes from its usefulness as a payment system. If that system ceases to be useful, Bitcoin will cease to be valuable.
Time To Act. Let’s Help Bitcoin Grow Again.
It’s always better to fix a problem BEFORE it gets too big. As they say, “an ounce of prevention is worth a pound of cure”.
If we wait until the Bitcoin price crashes because Bitcoin is unusable as a currency, it will be too late. We would have already lost serious momentum, marketshare, users, reputation, and merchants.
This is already happening, but there is still time to act.
I urge you: don’t be complacent.
You are the miner. You have the power. Start signaling for bigger blocks today, and let’s make sure Bitcoin stays #1.
Help Spread the Word
If you’re not a miner, but a concerned investor like myself, then please spread this message far and wide, and ask the miners and pools that you know for bigger blocks.
Addendum
This article is available in several foreign language formats:
Chinese Spanish Japanese German Russian
https://keepingstock.net/an-open-letter-to-bitcoin-miners-c260467e1f0
submitted by german_bitcoiner to bitcoin_offical [link] [comments]

[Table] IAmA: We are scientists working at CERN, home of the Large Hadron Collider and birthplace of the World Wide Web! Ask Us (Almost) Anything!

Verified? (This bot cannot verify AMAs just yet)
Date: 2014-06-10
Link to submission (Has self-text)
Questions Answers
How much political input/interference is there in your work? Given that so many nations contribute funding, does conflict ever arise in regards to what you can do? There is fortunately no political input/interference in our work, and this is regardless of our origine or anything. What we do is just pure science! (nm)
Does the name Okabe Rintarou ring a bell? SteinsGate, if I am not wrong. But we don't do time machines yet. Ask me again yesterday, if this has changed in five years.
(sl)
How much hooking up goes on between the scientists at CERN? Please rate on a scale of "Frostier than Elsa's Ice Palace" to "Sexy Cheerleader Camp group cabin" What I can tell is that there is an intense social life at CERN which I would call inbred: the community at CERN is somewhat special ... Long hours spent at the lab, sometime a geeky attitude, does not favor contacts outside CERN ... end result: I know a lot of people who have found their companion within the community. (TC)
Do you guys do anything classified? CERN is an academic environment and we take lots of efforts to publish results, technical designs, etc. We do not do any military research. Therefore, there is few stuff being "classified". Sometimes, there is a period when we keep information internal until we are sure the results are correct. Thus, basically, you find only the "usual" classified stuff at CERN: payslips, medical records of our employees, passwords, financial information.
(sl)
That and your time machine research. Oh. Yes. But that has been handed over to SERN.
(sl)
What does it sound like when you turn it on? (Seriously) When we close the LHC after access, the access console beeps. when we send out timing events to synchronise the equipment, we have an announcer that speaks out a line, that recalls what happened.
For the rest, the control room is far from the equipment, so we don't really hear it... but colleagues told me that at the ISR (another accelerator at CERN), they could hear the beam being dumped with a low pitch boom :) (gp)
Would it be technically or bureaucratically difficult to install microphones to record it next year? We have had microphones installed, to listen to the sound of an asynchronous dump on the collimators :) (gp)
What discovery/research should be getting more publicity than it is? We are doing a lot of research which does not get onto the blogs/newspapers: we have published more than 100 scientific papers on major peer reviewed journals.
Such papers are all about measuring the way Nature works at fundamental level. Today this kind of fundamental research can only be carried out in laboratories like CERN and it is our role to exploit such tools to provide mankind with these measurement which could be the basis of the future 'revolution' in understanding the inner workings of Nature. (TC)
What is each of your's favorite work of fiction involving CERN? I personally love the big bang theory. I can offer a free tour of the LHC control room for authors and actors if they come over to Geneva. (gp)
Bruno Arpaia's "Energia del Vuoto' : I have read the original italian book..do not know if it has ever been translated. (TC)
What common misconceptions do people have about your work i.e. black hole makers? What range of qualification and experience do you and your colleagues have? Common misconceptions are the widely advertised black-hole maker thing, but also the fear of us developing new dangerous 'stuff' (the fact that CERN is doing sub- nuclear research adds to the confusion). Another common misconception on the positive side is to think that we might develop the solution to the energy problems of the world. (TC)
What is the most mind-boggling thing you have learned or experienced in your time working there? Diversity of cultures and being able to work with some of the most brilliant minds has been ( and still is after having been at CERN for 28 years) one of the things I consider a unique feature of CERN. (tc)
Do you have any advice for an undergraduate Physics student aspiring to one day work with you at CERN? Sure! Join CERN as a summer student (too late for this year, I fear) but what about 2015? You'll get hands-on at CERN: weeks of lectures in the morning by professionals, hands-on projects within different CERN groups on your favorite subject, and lots of networking and socializing in the evenings. Meet your peers from all over the world. Sign up here.
(sl)
I'm a physics undergraduate and I'll be making the move to Geneva to work at CERN for a year as a technical student in 2 weeks! I'm extremely excited. Great! That'll be definitely fun! Wheather is sunny 30degC. Hope that stays!
How's the weather over there? (sl)
Im educated in this field nor smart enough to really understand but i'd love to spend a summer there as a 40 year old summer student. Age does not really count. I have just seen a 40yrs old applicant to our Technical Student programme. But you would need to be enlisted with an university...
(sl)
What is the coolest thing you've ever had the chance to do in your work at CERN (besides smashing particles together, of course)? I love LEGO. When Google came around and was taking footings of the CERN Computer Centre for their Google Streetview, I had a chance to drop a few LEGO minifigs beforehand. Later we made a treasure hunt of it... Was quite fun. If you want to try yourself, go here. If you want to cheat, solutions are here.
(sl)
How often are you guys able to predict what discoveries you will make? For example, when you found the Higgs Boson there had already been predictions that it would be found at some point in time, as our technology improved. Are there any other examples of less well known, expected, breakthroughs and does the accuracy of these predictions vary from the different areas of research? It is a good question: the way we work is by theorist assembling the information that we , experimentalists, make into models. Such models besides explaining what we have already observed make also predictions which we try to verify ( the HIggs boson is a notable example). In terms of 'how often' this is the most common situation we are dealing in our daily research life.
There are many other questions ( like why there is an obvious asymmetry between matter and antimatter) where the model builders and the experimentalist are trying to bootstrap each other with continous progress in understanding.
And there have been times where experimentalists have surprised the theorists by discovering new particles which nobody had foreseen ( example the tau lepton) (TC)
How close are you to unifying gravity and quantum mechanics? Not very close yet... This is a big area of research, many people are working on it, there have been some progress already but still a lot of work is needed. (nm)
How do you all decide what projects to study and work on? Are you pretty much given free reign? Is it based on budgetary constraints or what could have profitable applications? Is there someone in charge who gets to say "Hey, we should do more research into black holes" or whatever? As theorists, we are free to work on the projects we wish, depending on what we think more interesting or needed. Experimentalists however have also predecided projects to work on depending on the program and preiorities of the collaborations. We also have sometimes common projects between theorists and experimentalists. (nm)
I am a computer science graduate and will complete my masters next year. besides software engineering my other field of interest is physics. what kind of projects do i embrace so i can one day work at CERN with you? Computer science is everywhere at CERN! The massive amounts of data collected by the physics experiment must be filtered, transferred and stored. "Big Data Analytics" is a good start here. High bandwidth networking another. Mass storage (>100PB/year) a third.
Within the CERN openlab we work with third parties on such research --- so if you want to fiddel with hardware come here.
If you love software design, there are lots of opportunities, too: developping applications to run the LHC, to serve our physicist community, etc.
In brief: Make your field of interest a hobby and sign up as a student with CERN! A good master is an excellent start, but hands-on experience you just can get on the job.
(sl)
I've come to CERN for my master thesis in telecom engineering, as a technical student, I worked on optical links for CMS. I did also my PhD at CERN, in digital microelectronics. now I am hired as an applied physicist and work in the LHC control room. There is a very wide range of options here!
Definitely look at the student programs! (gp)
How strong is the firewall in CERN computer system?Does hacker often try to pringe into CERN sytem? Q: What is the purpose of a firwall? A: To let traffic through. If we don't need to let traffic through, we would cut the cable...
We use a standard firewall configuration to control traffic. As we serve a world-wide community, there are hundreds of computing services open to the Internet: web servers, SSH gateways, Windows Terminal Servers, conference room booking systems, document stores, web mail servers, etc...
Like any other organization worldwide, these are permanently probed for weaknesses. We monitor this activiely and, so far, successful attacks (detected by us ;-) have been rare.
(sl)
rare. The usual stuff: web site defacements, stealing/collecting credentials, using CERN as a platform to hop further, misusing computing power for Bitcoin mining, ...
Could you give an example of what happened when a hacker succeeded? I can't imagine there's much trouble a hacker could cause for you guys... (sl)
What do you hope to see happen within physics within your lifetimes? Is there a particular piece of the puzzle that you want solved for closure? There are many puzzles! One of the most intriguing ones though is the nature of dark matter. (nm)
What is it like to work at CERN? Schedules, workloads, commutes, social lives, etc? I love working here, the research and the international environment in particular. my schedule is messy when we have beam, as I take shifts in the control room. the rest of the time, it's normal working hours - which sometimes get extended in case of deadlines that come up.
I live, as many others, close by, so commuting is short (10 minutes). this June many of us are doing bike2work - so I biked in today, the weather is beautiful. my personal interests fit in well also. skiing is close by in between Swiss and French Alps, and the Geneva yoga festival is great too.
(gp)
What are you most excited to see happen in the near future concerning your respective fields of research? I can't wait to see the beam at high energy, early next year. on the accelerator side, we have a few things that might cause issues that we'll have to work on: electron clouds in the beam pipe, Unidentified Falling Objects, beam instabilities, … it'll be fun! (gp)
Finding new particles that could confirm the predictions of the theories I am working on! That will allow us to finally know what is the correct direction to go beyond the Standard Model of particle physics! (nm)
Comic Sans. Why Comic Sans? Because "Arial" sucks, doesn't it?
(sl)
How much does your electric bill average each month? A figure I heard is that we use ~180MW on a good day… most of it taken by the accelerator complex. (gp)
Is there a secret duplicate LHC, like they did for the machine in the movie Contact, in case some crazy-ass incident occurs? No! (nm)
Whats the process of decieding which particles you smash together? do you just take random shit and throw it together or are there scientific reasonings for it? Concerning the LHC, it was designed to do proton-proton, and lead-lead. then we also did proton-lead, and lead-proton, which is less obvious that what it sounds like.
I guess what I want to say is that it depends on the physics goals.
(gp)
Whats your favorite part out using scientific linux, or worst part? Btw, pretty cool that cern has adopted linux for research! I take the chance to point to this picture… I'm in it and the captions are not 100% true. (gp)
What impact will funding have on future research? Today's fundamental research is based on tools which require investment (that has always been the case , but in the past this funding was at the level of individual research institutes or of national initiative). Today not even 'continental' investment can cope with the needs of fundamental research. So if we want to progress further there will be need of substantial investment. For example in the last 12 months it has been decided to exploit fully the potential of the LHC accelerator :in order to exploit the potential of the improved accelerator we will need improved detectors. These do not come for free ...
So yes, funding will be essential for fully exploiting what the LHC accelerator can tell us ( and that might be a lot ... as there a lot of unaswered questions like what is dark matter, why is our universe made of matter and so on ) (TC)
So, now you have the higgs. what's next? We have to measure all the Higgs properties as precisely as we can! We also have new models to go beyond the Standard Model of particle physics and there are active searches ongoing at CERN to look for new particles. (nm)
It seems like lots of students are (appropriately) wowed by CERN and go on to pursue advanced degrees in HEP-ex and HEP-th. Do you think there is a real risk of overcrowding the field? The field has been 'regulating' its market since ever: we have statistics showing that less than 40% of the PHDs formed in CERN experiments remain in the Academic/Research world. The rest find quickly their way into the 'outside' world. The main reasons we have identified for the popularity of our students are : not being afraid of trying to solve problems, no matter how difficult, ability to evolve in a multinational/multicultural environment, ability to work in large teams, being exposed to state of the art software/electronic techniques. (TC)
What would make the LHC look like old tech in the near future? I'm guessing not a "larger" one. And don't forget the newest idea: the FCC (gp)
As the group that helped develop the web, what is your opinion on the current issues of Net Neutrality and the NSA's use of the Internet to spy on citizens of the world? Some personal view: The World Wide Web created 25 years ago at CERN (WWW: “Let’s share What We knoW”) provided a global platform and unique opportunity for people to communicate, to collaborate and to share at unprecedented scale and speed. The accessibility and openness of the internet are crucial to enabling new ideas to flourish and compete with the long-standing traditions and to ensure that the evolution of the web continues to proceed at a pace limited only by our ideas. However, with this capability comes considerable responsibility with all of us – whether politicians, lawmakers, scientists or citizens – to preserve an open internet and a free web for the benefit of humankind.
(sl)
How close are we towards a GUT? Is their some technical aspect holding us back or is it something else? No, I would say we have to verify the GUT model predictions experimentally at the LHC and there are ongoing searches... (nm)
Stefan Lüders, "Head of Computer Security" Actually, I followed a typical CERN career-by-chance. I am educated physicist, turned into control system engineer, investigated security stances of control systems, and then joined the security team with what I learned. Most of the time, I coordinate implementations, provide guidance, and help people to make their products more secure. It's more facilitating and enabling than hard-core security. However, my team consists of white hats who know the techniques much better than I do :-)
I didn't know CERN hired security experts, what does your job entail mostly? For the supa hacka, I would love to learn how he/she would get world domination by hacking into CERN. Sounds like bad reconnaissance...
Also, a more humorous question... are any of you afraid of being hacked by a "supa hacka" who is aware of your schemes and desire for world domination? John Titor 2014. (sl)
Any advice for a high school student trying to get into physics and particle physics in specific? Study hard and keep your eyes open for scholarships (gp)
How long does a test last? And how long between these tests? At the LHC, from a beam dump to the next stable beams it takes at least 2 hours. then we keep the beams in collisions for up to 10-15 hours. then start over. at the experiments, they pack up data from the collisions for years. (gp)
I'm sure you experience work-related pressures and irritations like the rest of us, but you're doing a very special job. Have you ever had a particularly satisfying moment that reminded you, "this is why I work here?" First turn of the beam in the LHC in 2009 - my fifth day on the job. I looked at my boss and whispered: "thanks for hiring me". (gp)
Is there any concept in physics that you look at and think "what the heck is going on here?" Yes ..all the time when confronted with the subtleties of Quantum Mechanics..and every time I dig into it I keep learning more (TC)
What are some (interesting) questions you can't answer? There are many, and that's why we do research! A few examples: how to explain the matter-antimatter asymmetry. Or what is dark matter. Or are there more than 3 quark/lepton families? And many more! (nm)
Please explain what you mean by "dumping the beam when it's depleted". This sounds like something that is required after a jump through hyperspace, and sounds very interesting. The beam gets dumped whenever it is not interesting for physics anymore (and the operators decide to extract it), or whenever anything on the accelerator side goes wrong (and Machine Protection takes care of extracting it automatically).
By means of a special set of magnets, with very fast rise times, the beam gets extracted from the main ring to a special place, the beam dump itself, where it hits a huge block of graphite and scatters its energy.
(gp)
Last updated: 2014-06-14 10:45 UTC
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