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Paypal's Biggest Nightmare - Bitcoin and Micropayments

Paypal's Biggest Nightmare - Bitcoin and Micropayments submitted by WildFireca to Bitcoin [link] [comments]

Trusted second layer for micropayments?

What do you guys think about having a trusted second layer like PayPal or Visa to process micropayments? Will this help or hurt bitcoin?
I think many people would still want to be able to dispute payments and those who prefer truly trust less transactions, can pay the fee to use the base layer?
submitted by DaenyxBerlarys to Bitcoin [link] [comments]

Serious question: what benefits does cryptocurrency have over applications like Venmo and Square Cash?

Both have minimal (if any) transfer fees, are pretty much instant, and allow you to "be your own bank". You can even get a venmo debit card sent to u that pulls funds from your venmo account, just like a bank account (pretty sure square cash has something similar).
What advantages are there to cryptocurrency over these applications? They seem to be competitors in a way. And they are winning.
submitted by 8BallDuVal to CryptoCurrency [link] [comments]

It is hoped that Earthcoin will bring new opportunities to the global village economy under the influence of the new crown virus, and the Earthcoin EAC blockchain will build a new global village.

It is hoped that Earthcoin Earthcoin will bring new opportunities to the global village economy under the influence of the new crown virus, and the Earthcoin EAC blockchain will build a new global village.
Everyone becomes a member of the global village via the Internet, but the real world is divided into many countries and regions. National and regional laws, currencies are inconsistent. The advent of blockchain can build a global village.
1: Global Village, EarthCoin
A word that the Global Village heard a long time ago seems to be a bit old now. The rapid development of modern science and technology has reduced the space-time distance on the earth, and international communication has become increasingly frequent and convenient, so the entire earth is like a small village in a vast universe. The global village in the Internet era is imperfect, because only the rapid transmission of information, and other aspects are deeply affected by the real world.
Earth's development of the digital economy is inseparable from Earth Coin EAC! EAC can help users to pay instantly to anyone on the planet. Earthcoin is a global decentralized payment network and digital currency that calculates the value of labor and quantifies the resources of the earth. Inspired by Bitcoin. Earthcoin can perform fast transactions with little or no fees. No login, registration or hidden fees are required. Users receive Earthcoin or send Earthcoin from any Earthcoin address in the world within seconds. Earthcoin uses P2P technology, and there is no central management agency; the network collectively manages transactions and issues Earthcoin. Earthcoin is also open source. Its design is public participation. No one can own or control Earthcoin. It is committed to sustainable and fair development. It calculates labor value and quantifies earth resources. Every earth person can participate.
2: The current global village
In reality, everyone's connection is broken. You have to use your own currency, you have to abide by your country's laws and regulations, and you have to follow a local law to use the local currency when you go to an area. Many things are inefficient because of this split. For example, bank cards: everyone has a lot of bank cards. There is nothing necessary. How many cards are wasteful. If you want to transfer money, the bank is different. If you want to transfer money from two different countries, you have to go through A complex network is very inefficient. Earthcoin is a global decentralized payment network and digital currency that calculates the value of labor and quantifies the resources of the earth. Can completely solve these problems.
3: If the blockchain changes the global village
The above problem is the reason why there is no strong center. If there is only one country and a bank is so big, things can be very efficient. But it is impossible. The United Nations and the World Bank can be political centers and financial centers by name, but the actual situation is not. The actual power is poor. And it may not be a good thing to create such a strong center, Earth Empire? The emergence of the blockchain has created a new possibility without a center! A lot of things need to be done by the strong center, but they are done just as well by going to the center. 1. In the past you needed the government to prove who you are, your mother is your mother, now the blockchain can. 2. In the past, you needed to use different currencies in different countries, and now Bitcoin Geocoin is accepted in any country, regardless of exchange rates.
The short confirmation time of the Earthcoin EAC block gives it infinite potential to extend to payment applications.
Everyone knows that Bitcoin BTC is the most robust and secure currency in the block. Even a few years ago, many investors around the world have used it as a tool for their own wealth transfer and storage. In the field of value storage, its credit is unmatched, which is the fundamental reason for its market value of 1.4 trillion. However, in the global micropayment application, Bitcoin BTC requires 10 minutes for each block confirmation, and 6 blocks can ensure accurate transactions. If you are shopping in the supermarket or participating in remittances, fundraising, etc., you only pay a sum of money. Wait for 10-60 minutes, it will definitely make people restless, don't even think about doing anything.
Earth Coin EAC has a block time of 60 seconds, and 5 blocks can confirm the transaction. Although there is no Alipay and WeChat Express supported by a centralized database, you have realized a point-to-point seamless link payment globally. , Waiting for confirmation within a few minutes is completely acceptable!
At present, the United States and Europe have begun to encircle China's Alipay and WeChat in terms of financial payment, because it is quickly eating away the cake of the cross-border payment of US dollars and euros in the circulation between Southeast Asia and Europe. Zuckerberg, knowing that his Lbria is equivalent to QQ currency ten years ago, but the US government has almost allowed it [to resist the pressure brought by Chinese payments, but if it is to be issued, it will become the Federal Reserve. And the US dollar's grave diggers were ultimately rejected by Congress], they are all centralized in nature, just like Huawei, no matter how good the product quality is, and where the service is in place, but as long as Huawei is found as a centralized organization, it is because of geopolitics between countries. And under economic coercion, bans are banned. But with a payment system developed using pure POW digital currency with a short confirmation time, no government can start, and people in Asia, Europe, Africa and the United States will long to use them to complete transnational payments in the context of globalization.
Four: Summary
This article triggered my thinking on the blockchain. What is the purpose of decentralization and why do many things go to the center! !! !! In a small area, a strong center is enough to accomplish many things efficiently, but when there is no strong center and it is difficult to exist globally, many simple things are very complicated. 1. Online transfer, if there is Alipay, then it will be a few seconds, but if a Chinese person uses Alipay to transfer to an overseas PayPal account, it is a massive project. After a bunch of banks, exchange rates fluctuated and various fees were charged. Blockchain can transfer money in a few minutes like Alipay. The short confirmation time of the Earthcoin EAC block makes it have endless potential to extend to payment applications. 2. Self-certification, you have to prove who you are, you need proof of where you are registered, you ca n’t prove who you are, you ca n’t prove it, but the district Blockchaining your private key can prove who you are. 3. More secure, Alipay transfer is a strong center, which is theoretically very safe, but it is a black box for you. If something goes wrong, if something goes wrong, how do you prove that you transferred, everything depends on the credit of Alipay, but the blockchain depends on It is code, and everyone can view the public code, which is more credible. Blockchain has many limitations. Without a strong center, there is no strong center, but in many cases, there is no strong center, and then a blockchain is necessary. I hope Earthcoin brings new opportunities to the global village economy under the influence of the new crown virus! (Source network)
submitted by zongyongge to Earthcoin [link] [comments]

A Breakdown of the 4 Leading Financial Cryptocurrencies

This post is written by a friend of mine who works in the financial services industry. I’m posting it for him because he doesn’t have a Reddit account:
I work in the financial services industry myself, and I decided it might be beneficial to provide my opinion on some of the leading financial cryptos based off their website/white papers/news I've read. Today I'll be covering the 4 leading financial cryptos in my opinion: XRP, REQ, OMG, XLM.
Market Cap & Ranking Graph
Ripple (XRP)
  1. Description: Cross border transactions between banks and payment providers
  2. Slogan: “Enterprise blockchain solutions for global payments”
  3. Potential Market Size: $155 trillion/year cross border transactions (McKinsey Global Payments Industry Study)
  4. Primary Focus: Ripple has had huge success lately given its focus on satisfying and providing cross-border payment services for big banks, who have driven up the price of Ripple. It currently has 100+ customers and has the most enterprise traction of the four coins. One big risk is the 55 billiion XRP put into an escrow out of a max 100 billion XRP. Once these escrows expire, there is always the risk of the company flooding the market with XRP. That being said, while Ripple is much further ahead than the other 3 coins, I fear that banks will license Ripple’s blockchain that is centrally governed without intended usage of their token.
  5. Architecture: Built on Ripple (payment protocol)
  6. Market Cap: ~$77B
Request Network (REQ)
  1. Description: A decentralized network for payment requests
  2. Slogan: “The Future of Commerce”
  3. Potential Market Size: $1,825 trillion/year on the SWIFT network that Request Network can capture on its platform (Extrapolated using daily historicals from U.S. Dept. of Treasury)
  4. Primary Focus: Request Network, also known as “Paypal 2.0” is a Y-Combinator-backed project created by the founders of Moneytis. Request Network has the biggest opportunity of the four. They are building out the infrastructure for payments and accounting/auditing between both businesses and consumers. Request will be more secure (blockchain tech), intelligent (smart contracts and IoT) and universal (supports all currencies both Fiat and cryptocurrencies) than Paypal. A key differentiator of Request is its usage of “token burning” during transactions, which intrinsically increases the value of the remaining REQ coins. In addition, Request is heavily focused on reputation management and helping accountants and auditors easily review transactions at extremely low costs. My concern here is that they are the earliest stage project of the four and also the most ambitious project, soon to be released on Mainnet. That being said, their team has executed ahead of planned timelines and I believe they seem to have the right expertise to get the job done.
  5. Architecture: Built on Ethereum
  6. Market Cap: ~$480M (Market cap is ~1/194 the size of Paypal at current valuation)
  7. Paypal Market Cap for comparison: ~$97B
OmiseGo (OMG)
  1. Description: Advanced e-wallet and payment platform
  2. Slogan: “Unbank the Banked with Ethereum.”
  3. Potential Market Size: N/A (market not clearly defined)
  4. Primary Focus: Many people around the world can’t get a credit card or pay for items online because geographically there are no banks around or their credit score is too low to receive financial services. OmiseGo looks to change that by enabling everyone in especially in developing countries to create an e-wallet that enables this underserved population the ability to cash in and cash out without a bank account at low costs. They have an enormous presence in Asia, and their vision is to look like the bank of the future. My concerns here are adoption outside of the Asian countries given the difficulty of scaling across geographies as well as a tough name to pronounce resulting in the necessity for a potential re-branding, but a very solid project with a fair amount of adoption nevertheless.
  5. Architecture: Built on Ethereum
  6. Market Cap: ~$2.5B
OmiseGo Edit:
Some additional points to note are its recent acquisition of Paysbuy (large payment service provider in Thailand) and partnerships with McDonald's Thailand and Alipay. It's often thought REQ and OMG are quite similar which they are, but their focus is different. OMG is firstly focused on banking and e-wallet services, while REQ is currently more focused on the actual payment request process and the accounting behind it, which you'll realize are quite different despite both moving in the same direction.
Stellar (XLM)
  1. Description: Cross border currency transfers between developing countries
  2. Slogan: “Move Money Across Borders Quickly, Reliably, And For Fractions Of A Penny”
  3. Potential Market Size: N/A (market not clearly defined)
  4. Primary Focus: Stellar competes directly with Ripple at different ends of the market. Stellar is a great project focused on providing low-cost financial services for lower classed individuals, whereas Ripple is focused on profit generation and founded by ex-bankers. Stellar differentiates itself through solutions targeted around micropayments, mobile banking and services for the underbanked (similar to OmiseGo). The thing I like about Stellar is that structurally it is set-up as a non-profit and something established for the people to easily exchange money between one another. I think the market is large enough to support multiple competitors, but it is important to note that they compete with Ripple in cross-border transactions and OmiseGo in services to the underbanked.
  5. Architecture: Built on Stellar (payment network)
  6. Market Cap: ~$11.7B
Stellar Edit:
Expanding on Stellar based off comments, let's clarify that Stellar is indeed founded by one of the co-founders of Ripple, which makes them somewhat similar. But wanted to key in on a few more points that make XLM unique: no mining with circulating supply of 100 billion lumens from the start @ 1% inflation rate and a recent partnership with IBM for cross-border payments as a bridge currency. Finally it's important to look at their Stellar Development Foundation, which controls the distribution of Lumens. Distribution is split as follows: 50% through Direct Sign-up Program, 25% through Partnership Program, 20% through Bitcoin program and 5% held by the foundation to support operations. Note this effect is huge because they can also unleash a large amount of lumens, but they do have a more defined mandate for dilution than Ripple.
Read more about it here: https://www.stellar.org/about/mandate/
Disclaimer and Final Words:
I am a holder of all four coins, but from a returns standpoint, I am most bullish on Request Network given it has the largest market size, smallest market cap and an incredible team. But from a risk standpoint, Ripple is the lowest risk coin to hold given its widespread adoption and use across numerous banks that are displayed on their website. Honorable mention for both Stellar and OmiseGo, which are superb projects that will still succeed. Remember that the financial market is extremely deep with trillions of dollars in transactions moved every day, so there is ample room for all four of these coins to find their niche whether it is in a certain region of the world or in certain product types (i.e. micropayments). All in all, you can’t go wrong holding a portfolio of these four coins because each one of these cryptocurrencies are going to kill it in 2018!
 
Sources:
  1. https://ripple.com/
  2. https://omisego.network/
  3. https://request.network/#/
  4. https://www.stellar.org/
  5. https://coinmarketcap.com/
submitted by brianjly to CryptoCurrency [link] [comments]

[Weekly Report] Micropayments Change the Future of Blockchain

[Weekly Report] Micropayments Change the Future of Blockchain
Dear friends of LivesOne,
In the previous weekly report, we mentioned that LivesOne would focus on building a payment platform, which is our major development direction. After a period of research, we recommend BSV's micro-payment. We're all familiar with payments, but what exactly is micropayment? Let's learn about it today.
What is micropayment?
Micropayment is compared with the existing third-party payment system. At present, PayPal is the world's largest third-party payment provider, and its "micro payment" service charges 5% plus 5 cents for each transaction. If it's a $1 deal, PayPal charges a 10% commission.
At present, PayPal as an American company has almost monopolized the third-party payment market except China. Alipay and WeChat have monopolized the Chinese market, but their status is not unbreakable. If you are a Chinese businessman, the goods you sell may be bought by foreigners, while Alipay and WeChat only connect the domestic consumers. Will you refuse to add a collection options? If you are a Chinese consumer and want to buy goods only sold by foreign businesses, will you refuse to install an additional payment option? Under the general trend of global commodity connectivity, the market scale of cross-border payment in China has been growing steadily year by year.
https://preview.redd.it/r5jb1fi2nb841.jpg?width=720&format=pjpg&auto=webp&s=66a00e8d6e990b0969d35109271677b36fafb373
If Alipay and WeChat are do nothing, the market share will definitely decrease year by year. In contrast, because the underlying design of BSV is the original bitcoin and point-to-point, the operation cost and handling fee are far lower than PayPal. It's also a $1 deal, with BSV charging about $0.0003. This means that there is no pressure on the BSV network that PayPal cannot cover.And even if PayPal is adjusted to a lower fee than the BSV network, BSV can be adjusted accordingly, because of the relative cost advantage.
BSV opens up the situation through micropayment and circulates as a global commodity (like physical gold). Payee can choose not to convert it into legal tender and deposit it like gold. Paypal will never be able to do that without the advantage of currency exchange.
Micropayment instance of BSV
As one of the application development of BSV, Mediopay in Germany has launched a product for article reading.
https://preview.redd.it/z2eyzhu3nb841.jpg?width=720&format=pjpg&auto=webp&s=6dd5b3022317c43747f1c7c42f6447d635c146bd
As an example, the demo on the official website of the above picture: Regardless of the national currency of the readers in the world, readers only need to pay the BSV of the same value (such as the 22 cents in the figure) to read the article.
The application is based on WordPress, the world's largest personal blog tool. Bloggers can use the app on WordPress in a few simple steps, and set the amount that readers need to pay to activate the paid reading function.
Even a transaction with a price of as little as 1 cent,you only needs to pay 3% of the handling fee to BSV miner, which may even continue to decrease in further. As an application developer (such as the Mediopay team), you can charge the author a percentage of the service fee. Taking the one-cent micropayment as an example, if 3% of the service charge is paid to BSV miner, the developer can get the service charge to 7%. The third-party payment tool represented by PayPal is only a development team, even if the team structure is complex and huge. However, there is no limit to the number of development teams based on BSV payment tools, and they are globally distributed. If you don't do it, someone else will do it.
Many knowledge payment platforms provide the function of paid reading, but they cannot be allowed to purchased only one article. This rejects the majority of readers with only mild reading needs. Micropayments precisely solve this problem. Because there is no longer bundled sale, excellent authors can stand out quickly - which in turn boosts the consumer market.
Micropayment breaks the existing business model. It is imperative for LivesOne to introduce BSV micropayment. Let's look forward to it.

Symbiosism Economy Foundation
Jan.2nd, 2020
submitted by LivesoneToken to LivesOne [link] [comments]

Can Bitcoin enable the fabled micropayments revolution? Coinbase thinks it’s worth a shot

Can Bitcoin enable the fabled micropayments revolution? Coinbase thinks it’s worth a shot submitted by CrunchyBones to Bitcoin [link] [comments]

Surely BTC.SX isn't biased when comparing Buttcoin to Facebook payments

Surely BTC.SX isn't biased when comparing Buttcoin to Facebook payments submitted by bobthesponge1 to Buttcoin [link] [comments]

Bitcoin Killer App -- Eliminate Website Ads

What are your thoughts on an application which allows websites to accept extremely small amounts of money in exchange for offering the content free of advertisements?
For example, if I go to my favorite sports website, an application on my computer automatically offers the website 1/10th of one penny worth of bitcoin, (or whatever amount the website requests, up to a certain limit), and the website immediately recognizes that payment has been made, and doesn't even begin loading the advertisements. This would make websites load faster and not be so herky-jerky.
Users would no longer endure pop-up ads or any other annoying ads. The website would generate more revenue, as the pricing model would ensure that the amount charged would exceed that which would be generated by the ads.
The only way that a system like this would work would be through the use of cryptocurrencies, as the tiny amounts transacted for each website view would obviate processors such as Visa or Paypal, which have minimum transaction amounts of more than a dollar. Only crypto such as bitcoin would be able to transfer fractions of a penny profitably.
Not sure if this is a new concept, or is technically feasible, but what do you guys think?
submitted by BitcoinLibertarian to Bitcoin [link] [comments]

How is bitcoin less expensive?

If I have to buy into an exchange using my credit card, then won't there be a credit card processing fee, now with the additional transaction fee of bitcoin? The only thing I can think of is quantity, which can sometimes lower cc fee's tiers plus reduces the average cost of the fixed cost.
submitted by lichorat to BitcoinBeginners [link] [comments]

API for micropayments?

Does anyone know of any good APIs for micro-payments via credit card? Stripe is great for general payment processing but if all of your transactions are under $2, that fixed charge of 30 cents will eat up too much of revenue.
submitted by kz01 to startups [link] [comments]

Best payment processor for very small transactions?

Hi guys! My business would be processing thousands (or tens of thousands) of tiny transactions per day, with each user paying about $.15. What's the best processor to work with so we actually make money off of these users?
Thanks!
submitted by Morick to startups [link] [comments]

I introduced Bitcoin to a room full of people and was applauded

I just wanted to share this, as it was very encouraging for me. I teach technology classes focused on small business people. In one class I take a broad look at a variety of new or up-and-coming tech, and I usually just briefly mention Bitcoin as something to keep on the radar. I consider myself a Bitcoin enthusiast, but my agenda with the class is to give them info that will be of the most value. Last week I had an expanded talk introducing Bitcoin, the blockchain, and some of the potential applications for both.
I highlighted Bitcoin as an answer to several problems. It wasn't practical to send micropayments before Bitcoin (without spending more in fees to processors, Paypal, etc.). Tips are cool, but this could be huge for content creators and entertainment websites. You might not want to pay for a subscription, but you might pay $0.10 to read an article you were really interested in.
Bitcoin also makes it easy and affordable to send money overseas. Sending money is as easy as sending an email. You don't have to know where someone lives or what their currency's exchange rate is.
Bitcoin can power the Internet of Things (IoT). Vending machines could order their own new merchandise, replacement parts, etc. Self-driving cars could pay for faster lanes, toll roads, etc. to speed up your trip (borrowed that idea from a Winklevoss talk).
I talked about the Blockchain, how Bitcoin is decentralized, and how acceptance and investment are growing rapidly.
One of the common questions I get when I mention that there will be a max of 21 million BTC: How will there be enough Bitcoins for it to be practical for millions of people to use it? I created a chart of the named Bitcoin units down to Satoshi, and I mention that if the value of 1 Bitcoin were to rise to $1 million, 1 Satoshi would be worth just a penny.
Anyway, everyone was very interested. Over half the room had never heard of Bitcoin. My Bitcoin section was the last part of my class, and when I finished I had a round of applause. I guess I ended on a good note!
I am teaching another class in a few weeks, so if anyone has anything they think is great for someone who's never heard of Bitcoin to hear, please let me know!
submitted by webChris to Bitcoin [link] [comments]

07-28 11:03 - 'Donating bitcoin to charity' (self.Bitcoin) by /u/ChrisPaul167418651 removed from /r/Bitcoin within 289-299min

'''
Let me show you something. One of the very first uses of bitcoin was by Wikileaks to accept donations after Paypal and Visa imposed a worldwide blockade. Their website has a 'generate new bitcoin address' button for improved privacy.
Before you sell bitcoin and donate the after-tax proceeds, consider donating your bitcoin directly to charity.
A tax-exempt public charity, sold the bitcoin without having to pay any capital gains tax. Due to these tax efficiencies, with your Giving Account, you are able to dedicate an additional dollars for charitable use. You could lessen your capital gains exposure and claim a higher tax deduction than if you sold the bitcoin and donated the after-tax proceeds.
Charity is the best way to show your support for humanity. There are many issues in this world that have to be taken care of. From hunger to natural calamities, there are numerous conditions where we need to try and make a difference. For the betterment of the human race, there are many charitable organizations set up all over the world. These organizations play a very important role in the global development as they reach out to people in the remote areas and try to solve their problems. There are certain charities that target one nation and try to bring a difference in the quality of living among its people, whereas the other organizations work in all countries for different causes. Be it supporting the girl child in India or providing books for Africa, the charitable organizations are doing their best for supplying the necessities of life to people who can’t afford it. Scroll down to have a look at the top 10 charitable organizations that accepting bitcoin donations. You can always support them in their cause by providing whatever little help you can.
"We believe in continually innovating in our work to improve the lives of children worldwide. Accepting bitcoin has allowed us to bring digital and mobile innovation to our donations."
Ettore Rosetti, Director of Social Media and Digital Marketing for Save the Children
"The Red Cross is thrilled to partner with BitPay to offer a different way for generous donors to support our humanitarian mission. This gives a new generation of supporters the opportunity to help people in need."
Jennifer Niyangoda, Executive Director of Corporate and Foundation Programs for the American Red Cross
All donations are tax-deductible as allowed by law.
Please retain all receipts for tax purposes. All donations FINAL.
I made a LIST non-profit organization that receiving bitcoin donation. GIVE A BIT HELP A LOT. Every micropayment deserves respect.
'''
Donating bitcoin to charity
Go1dfish undelete link
unreddit undelete link
Author: ChrisPaul167418651
submitted by removalbot to removalbot [link] [comments]

07-28 06:03 - 'Donating bitcoin to charity' (self.Bitcoin) by /u/ChrisPaul167418651 removed from /r/Bitcoin within 5-15min

'''
Let me show you something. One of the very first uses of bitcoin was by Wikileaks to accept donations after Paypal and Visa imposed a worldwide blockade. Their website has a 'generate new bitcoin address' button for improved privacy.
Before you sell bitcoin and donate the after-tax proceeds, consider donating your bitcoin directly to charity.
A tax-exempt public charity, sold the bitcoin without having to pay any capital gains tax. Due to these tax efficiencies, with your Giving Account, you are able to dedicate an additional dollars for charitable use. You could lessen your capital gains exposure and claim a higher tax deduction than if you sold the bitcoin and donated the after-tax proceeds.
Charity is the best way to show your support for humanity. There are many issues in this world that have to be taken care of. From hunger to natural calamities, there are numerous conditions where we need to try and make a difference. For the betterment of the human race, there are many charitable organizations set up all over the world. These organizations play a very important role in the global development as they reach out to people in the remote areas and try to solve their problems. There are certain charities that target one nation and try to bring a difference in the quality of living among its people, whereas the other organizations work in all countries for different causes. Be it supporting the girl child in India or providing books for Africa, the charitable organizations are doing their best for supplying the necessities of life to people who can’t afford it. Scroll down to have a look at the top 10 charitable organizations that accepting bitcoin donations. You can always support them in their cause by providing whatever little help you can.
"We believe in continually innovating in our work to improve the lives of children worldwide. Accepting bitcoin has allowed us to bring digital and mobile innovation to our donations." Ettore Rosetti, Director of Social Media and Digital Marketing for Save the Children
"The Red Cross is thrilled to partner with BitPay to offer a different way for generous donors to support our humanitarian mission. This gives a new generation of supporters the opportunity to help people in need." Jennifer Niyangoda, Executive Director of Corporate and Foundation Programs for the American Red Cross
All donations are tax-deductible as allowed by law. Please retain all receipts for tax purposes. All donations FINAL.
I made a LIST non-profit organization that receiving bitcoin donation. GIVE A BIT HELP A LOT. Every micropayment deserves respect.
'''
Donating bitcoin to charity
Go1dfish undelete link
unreddit undelete link
Author: ChrisPaul167418651
submitted by removalbot to removalbot [link] [comments]

I introduced Bitcoin to a room full of people and was applauded

I just wanted to share this, as it was very encouraging for me. I teach technology classes focused on small business people. In one class I take a broad look at a variety of new or up-and-coming tech, and I usually just briefly mention Bitcoin as something to keep on the radar. I consider myself a Bitcoin enthusiast, but my agenda with the class is to give them info that will be of the most value. Last week I had an expanded talk introducing Bitcoin, the blockchain, and some of the potential applications for both.
I highlighted Bitcoin as an answer to several problems. It wasn't practical to send micropayments before Bitcoin (without spending more in fees to processors, Paypal, etc.). Tips are cool, but this could be huge for content creators and entertainment websites. You might not want to pay for a subscription, but you might pay $0.10 to read an article you were really interested in.
Bitcoin also makes it easy and affordable to send money overseas. Sending money is as easy as sending an email. You don't have to know where someone lives or what their currency's exchange rate is.
Bitcoin can power the Internet of Things (IoT). Vending machines could order their own new merchandise, replacement parts, etc. Self-driving cars could pay for faster lanes, toll roads, etc. to speed up your trip (borrowed that idea from a Winklevoss talk).
I talked about the Blockchain, how Bitcoin is decentralized, and how acceptance and investment are growing rapidly.
One of the common questions I get when I mention that there will be a max of 21 million BTC: How will there be enough Bitcoins for it to be practical for millions of people to use it? I created a chart of the named Bitcoin units down to Satoshi, and I mention that if the value of 1 Bitcoin were to rise to $1 million, 1 Satoshi would be worth just a penny.
Anyway, everyone was very interested. Over half the room had never heard of Bitcoin. My Bitcoin section was the last part of my class, and when I finished I had a round of applause. I guess I ended on a good note!
I am teaching another class in a few weeks, so if anyone has anything they think is great for someone who's never heard of Bitcoin to hear, please let me know!
Source
submitted by Myrandall to copypasta [link] [comments]

What is raiden? a quick guide for new users

Just a quick guide to Raiden for newcomers. I'm not an expert so please feel free to jump in with any information I've missed or anything that isn’t correct. Cheers.
What is Raiden?
"The Raiden Network is an off-chain scaling solution for performing ERC20-compliant token transfers on the Ethereum blockchain. It is Ethereum’s version of Bitcoin’s Lightning Network, enabling near instant, low-fee, scalable, and privacy-preserving payments." 1
In plain English, Raiden lets you transfer ETH or any ERC20 token-much faster and cheaper than is currently possible.
(See 'further reading' for details on what ERC20 tokens are).
So, it makes crypto transfers faster and cheaper. Is that necessary?
Yes. Currently, the Ethereum blockchain is capable of processing around 15 transactions per second. You may see this referred to as Tx/sec. By comparison. Visa has stated that they can operate at 56,000 transactions per second. 2
During busy periods the system can become clogged and transactions can take hours. Think back to the spat of ICOs in summer 2017, or the more recent CryptoKitties craze, for examples. Vitalik Buterin, the co-founder of Ethereum, acknowledged as much in a recent blogpost:
"With the Ethereum blockchain teaching millions of transactions per day, and both Ethereum and other blockchain projects frequently reaching their full transaction capacity, the need for scaling progress is becoming more and more clear and urgent." 3
If crypto is going to contend for mainstream adoption, it needs to speed up big time. This is where Raiden comes in. You don't need to wait for any blocks to be mined. Its transfers are instant.
And cheaper?
Transfers made on the Ethereum blockchain are calculated based on the computational resource needed to make it. Whether your transfer is big or small, the fee will not be massively different as they all go through a similar process.
With Raiden, the fees are proportionate. This means everyday transactions like buying a cup of coffee will carry a much smaller fee. Even making thousands of tiny payments of just a few pennies/cents will not add up to a large fee, as it would do in the current system.
How does Raiden work?
The Raiden network operates on top of the Ethereum blockchain, but a lot of the heavy lifting takes place off-chain. Transactions take place between two parties using something called balance proofs.
Near-limitless transactions can take place simultaneously, off-chain, with two exceptions; a one-off on-chain transaction at the beginning, and another at the end. You can read all about the specifics here.
A very simplified way to think about it is to imagine a train with 100 passengers all waiting to board in one queue. At the train door the conductor takes payment, gives out change, ensures everything is in order and lets customers on one at a time. This would take a very long time.
Now imagine there are 100 machines to the side that dispense tickets. Everybody goes to get a ticket instantly, then returns to the conductor. There is still only one conductor, but he can now quickly get the passengers on the train without wasting time.
In this analogy, Ethereum is the conductor and Raiden is the ticket machines. The passengers buy their tickets (make transactions) to the side (off-chain). There is still only one conductor (Ethereum blockchain). But instead of queuing up for ages and clogging up the system, the process is sped up by performing most of the work to the side (off-chain) and everybody gets on the train (makes a transaction) much faster. The destination is the same, but the journey is quicker.
Apologies for the very unscientific analogy :)
How long until Raiden is ready to go?
Raiden was initially scheduled for launch in March 2017 but was pushed back.
Currently Raiden is still in the development phase but a limited release is coming soon. This will give Dapp developers a taste of Raiden ahead of its full release. They'll also be able to build prototypes that can interact with the Raiden Ropsten-based test network.
What is µRaiden?
µRaiden is similar to Raiden in that it allows for off-chain transactions. The micropayments that happen off-chain are free, and µRaiden is already live. However, one major difference between this and Raiden is the linear transactions. It cannot be established for many-to-many payments like Raiden can.
And what is Raidos?
Raidos, or Raiden 2.0, is still in its early stages. Instead of only dealing in ERC20 tokens, it will look to cover all types of smart contract.
So Raiden, µRaiden and Raidos are all from one company?
Yes. If you invest in Raiden tokens, you're effectively investing in all three at once.
What is the point of Raiden tokens (RDN)?
For people who want to use Raiden without running a full node - which will be the vast, vast majority - Raiden tokens will have to be bought and used.
Users who run a full node will not require Raiden tokens.
I heard that the token isn't needed, and the ICO was just a 'cash grab'...
Originally, Raiden did not plan to launch a token or hold an ICO of its own. However, the company changed tack and held an ICO which raised just shy of 110,000 ETH. 4
The crypto community, and ETH holders in particular, felt that they were being robbed of value. Those who had bought and held Ethereum would have hoped the news of Raiden would boost the price of their holdings. But with a separate token the perceived consensus was that this move took value away from ETH and into RDN, at least in the short term.
Vitalik Buterin also weighed in on Twitter, saying he wished RDN hadn't held an ICO but equally stating that he understood it was necessary:
“I wish they didn’t [hold an ICO] but I totally understand why they did and do not blame them.” 5
The way things panned out left a bitter taste for many crypto investors. But the token certainly does have a very real use.
Where can I buy Raiden tokens (RDN)?
You can currently buy RDN at a handful of exchanges:
Binance
OKEx
Huobi
Kucoin
EtherDelta
Further reading:
What are ERC20 tokens?
Raiden 101
Vitalik Buterin blog update
Sources and links:
1 https://raiden.network/101.html 2 https://mybroadband.co.za/news/banking/206742-bitcoin-and-ethereum-vs-visa-and-paypal-transactions-per-second.html 3 https://blog.ethereum.org/2018/01/02/ethereum-scalability-research-development-subsidy-programs/ 4 https://token.raiden.network/ 5 https://twitter.com/VitalikButerin/status/911300771819352064?ref_src=twsrc%5Etfw&ref_url=https%3A%2F%2Fwww.ethnews.com%2Fvitalik-buterin-responds-to-raiden-ico
submitted by Live_Forether to raidennetwork [link] [comments]

Step Inside... We are giving away 200,000,000 Karmacoin to **EVERYONE** Get+Karma, then Give+Karma to someone else!

The Giveaway is Complete. Head on over to our new home at Karmashares to see what we're up to now!

(We're giving away 200,000,000 Karmacoin over the next few days to everyone. See the "How Do I Get Karmacoin?" section below.)
WELCOME TO KARMACOIN
What is Karmacoin?
Karmacoin is a new way to show your family, friends, and others that you appreciate them. Think of it as a "Like" button that you can take anywhere. It's a P2P currency, like Bitcoin. You can use it to share with those you care about. We call it Give+Karma, because when you do good, good comes back to you.
You can think of Karmacoin as another way to say thanks. When you Give+Karma you're sharing your experience in a community where the little things matter. Random acts of kindness, caring about what others have to say, showing appreciation, being happy, doing good things, and enjoying life. It's the little things that count. And that's why we developed Karmacoin.
We're currently expanding our cause not just around the internet but around the world. We shared a summary of our business plan and project schedule with our community so that everyone knows what we're up to. Our goal is to become the #1 way for people to reward others, and be rewarded themselves. Karmacoin can be thought of as an incentive for more people to:
Our vision is a world where hundreds of millions of people around the world use Karmacoin everyday.
How Do I Get Karmacoin?
You can get Karmacoin from others who share it, or purchasing it from a trusted exchange like MintPal using your Bitcoin. In a few days we'll be announcing an easy way to buy Karmacoin using Paypal.
Luckily, to celebrate our new main website and a new place where you can share stories about people doing good things called Karmashare, both launching on March 20, we are giving away 200,000,000 Karmacoin so you can try it out!
**Be sure to subscribe to this subreddit ** And be sure to vote on the cointips tipbot when it replies
Be sure to download the Wallet for Windows, Mac, or Linux. (We're updating the graphics so don't be alarmed! It's the correct version.) Once you've installed this, you can click on the Receive tab, highlight the first row, and click the Copy button at the bottom. This is your new Karmacoin address ("Karmaddress") you can use to receive Karmacoin. (You can also send by clicking on the Send tab and entering the recipient's Karmaddress.) We're working on an easy-to-understand video tutorial now, and will be posting that for the community.
If someone is sending you Karma you can give them your new Karmaddress and you should receive it anywhere from 15 seconds to a few minutes.
Our website will soon offer some instructions of how to get and use Karmacoin. Stay tuned...
The Karmacoin Vision
We believe that the micro-transaction economy is based on kindness, sharing, small donations, microloans, tipping, and the little things that can make life wonderful and people feel appreciated, including:
  • Online tips to other internet users who deserve a little recognition
  • Tipping helpful service people offline and online
  • Paying for your co-workers cup of coffee in the morning
  • Kids receiving small amounts of money, or even allowance
  • Being able to trade a few hours of your professional time for Karmacoin that are then donated to your favorite cause on KarmaTrade.me (coming soon)
  • Independent artists being paid more money by receiving more payments from more people
  • Paying 30% less for a song because Karmacoin makes transaction fees nearly non-existent.
  • Lending a stranger $10 worth of Karma, knowing that he's got a good reputation with others at the future Karmacoin microloan site, KarmaPay.me
  • Helping someone out with bus fare to get to their first job interview at Karmashare.me or sharing a story about how someone helped you when you needed it most
  • Being able to easily accept small payments from friends, family, co-workers, or customers
This is an untapped industry because traditional payment methods such as credit cards, bank transfers, and checks (even PayPal) make small transactions too expensive from transaction fees, or too slow to be of practical use. For example, if you wish to give 25 cents to someone in person, it's easy. But try doing it online. It becomes prohibitively expensive to the point where you'd need to send 50 cents or more just so the other person can get 25.
Further, Karmacoin can be used by:
  • Companies wanting to provide redeemable rewards to staff
  • Companies wanting to provide redeemable rewards to customers
  • School systems wanting to provide redeemable rewards to students
  • Local governments wanting to provide rewards to their citizens
  • Websites wanting to entice visitors with incentives to visit, interact, or purchase
  • Retail shops wanting to provide incentives to customers to visit the store, browse, or shop
The possibilities in this new industry, which we call the "Good" economy, are endless. Karmacoin aims to be at the forefront of the Good economy by making these micropayments easy, fast, secure, and very, very cheap for everyone involved.
Karmacoin transaction fees are so small they barely register. Here's a comparison of fees:
Credit Card Check Wire Transfer Paypal Bitcoin KARMACOIN
Cost to send 10 cents >100% >100% >100% >100% >100% 0.00%
But the above list of ways in which Karmacoin can be used only scratches the surface of what is possible. As we move towards the Internet of things there will be ways to interact with all of its little components. Each of these components potentially represents a micro-transaction. Accessing, buying, and selling content, services, and other information and a whole world of things that we are unable to think of now.
Billions of transactions performed by hundreds of millions of people each and every day. Many of these transactions fall within the domain of Karmacoin, and that is where we will take the lead in the Good economy.
That is our vision. We hope you'll join us by using, sharing, and giving Karmacoin.
Developers
Please take a look at our development and promotional bounties. We appreciate all you can do to advance Karmacoin and bring it to the next level. We all here believe in Karmacoin and hope you will too. Please help us on our journey. We promise it will be an exciting one!
Thank you to the entire Karmacoin community for being so wonderful and spreading good karma. This will be an exciting journey for us!
submitted by kosmost to Karmacoin [link] [comments]

Why I don't think there's much growth potential left

Disclaimer: Stepped in around 90 dollar, cashed out around 2600.
Currently, Bitcoin has a market cap of 45 billion dollar. Paypal, has a market cap of 63 billion dollar. It handled 115 transactions per second back in late 2014, today it handles around 150. With Bitcoin, we manage to handle 7 transactions per second right now. We're practically approaching a digital civil war over the question of doubling this transaction capacity.
We can't do what Paypal can do, but if we could at some point in the future, it would justify perhaps at most a 50% increase in value. Some might say that it can also be used as a store of value, but as a store of value Bitcoin is already bigger than the entire silver market today.
Worse, we don't really have practical added value over Paypal when it comes to most payments. Micropayments aren't going to take place on the blockchain. If I wanted to make micropayments right now, I would use an altcoin. Paypal has ease of use, no volatility issues, no serious concerns over hackers stealing your money to the degree that Bitcoin has.
This doesn't mean Bitcoin is useless. It has clear niches, most of them not legal. I know the corporate suits who have to explain at the cocktail parties and to parents in law what they do for a living want to minimalize the subversive potential of Bitcoin, but it was founded by an anonymous hacker for a reason. We use Bitcoin because we don't trust authorities. The big voices you hear talking about Bitcoin don't really mention this.
Bitcoin is used in ransomware, it's used by people who want to exchange illegal substances, it can be used by people living under autocratic regimes. Its value isn't zero. However, its value isn't realistically speaking going to be trillions of dollars either. What I hear at the moment in the media is mostly irrational hype (bitcoin will be 1 million a coin) as a replacement of the ignorant denial we heard in the past (tulip bulbs).
The most important use for Bitcoin is perhaps as a medium of exchange that enables access to other cryptocurrencies. I don't want my bank to know I bought Monero, because we all know what Monero is used for. In other words I would never buy Monero directly, I would buy Bitcoin and buy Monero with it through an exchange.
Another angle to Bitcoin that's not sufficiently discussed is its ability to store value in a place where authorities can't reach. This is mostly useful for people who have reason to fear seizure of their assets, like fraudsters and drug dealers. You want to leave something behind for your family. This is not per definition an enormous niche, but it is a relevant niche.
As a store of value, Bitcoin will never be very relevant for people who have alternative options available. The reason for that is very simple: Bitcoin is too volatile. It will always remain volatile, because the coins are so centralized in the hands of a few owners. We have a few big owners who hold hundreds of thousands of coins. You can see for yourself how little depth the order books have. If anyone were to dump his coins on the market today, we would witness a tremendous price crash. With precious metals, this is not a serious concern.
You might say that Bitcoin will become less volatile as it matures, but I don't think this is guaranteed. The reason for this is because of the recurring hacks of exchanges and the exit scams committed by darknet markets and even exchanges. These incidents place coins in the hands of a small minority of individuals. In addition, the supply of new coins is in decline. If we end up in a situation where very few of the existing Bitcoin are used for legitimate purposes, fluctuation of the price becomes nearly inevitable.
Another long term irresolvable issue Bitcoin faces is its problem concerning miner centralization. Without an algorithm change, the currency will always be controlled by a few big mining pools. This places tremendous power in the hands of a few individuals who are bound by few obligations. A 51% attack is now a very legitimate concern. You might say that a miner has no such incentive, but there is no guarantee for this. As a result of this problem, Bitcoin will always face legitimate competition from alternative crypto's.
So what I would recommend is to look beyond the hype and to look at its genuine potential. In my opinion, its genuine potential is what it's being used for right now. Its potential as a technology is intrinsically subversive, whether we like it or not. Because of the network effect, we have reason to believe Bitcoin will remain relevant for the foreseeable future, despite the fact that technologically superior alternatives exist. If present trends continue, the most likely outcome would be for Bitcoin to become one cryptocurrency among many. The vision of the Bitcoin maximalists is not exactly looking likely at this point as Bitcoin's market dominance continues to decline.
Personally, I would not buy Bitcoin at current prices for investment purposes. Besides the fact that I believe it may be overvalued, I believe there is little potential for growth left. Most people I personally know who own Bitcoin right now don't use it for legitimate purposes, they own it because they expect the price to go up because they've been led to believe this is their only chance to become a millionaire. This is how bubbles form. I expect this bubble will pop too, although the level at which it will pop is hard to say. The enormous rise in prices we've seen in the past is by no means a guarantee for the future.
It might be possible for Bitcoin to increase in value tenfold in the long term as scalability issues are addressed, but the same can be said about various other crypto assets and even regular stock, so I personally see no reason to continue holding onto Bitcoin when I expect alternatives to have a better chance of growth. Any ability for Bitcoin to scale won't significantly broaden the relevant niches for which Bitcoin can be used. I would argue that at the moment, Bitcoin is used for the same niches as it was four years ago. There is no indication of significant growth for legitimate purposes other than speculation by late-comers who expect to get rich quick.
submitted by iuseupyourusernames to BitcoinMarkets [link] [comments]

[uncensored-r/CryptoCurrency] The top 10 cryptos to buy for 2018 - discuss!

The following post by broccoleet is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7ngs65
The original post's content was as follows:
Hey guys, just sharing my knowledge as a frequent trader of both stocks and cryptos of a few years now. 10 essential cryptos/coins/tokens everyone should think about owning in 2018. Feel free to share your own essentials.
  1. Rai Blocks(XRB) -- In its simplicity, it currently works beautifully. If it can continue to scale with no fees and maintain the quick tx times, it WILL be a top 5-10 market cap coin by end of year. This is the new litecoin/DASH/original Bitcoin spiritual successor. Very few things have seen the growth that XRB has this year. The only things holding it back are some questions on security, and the need for idiot-proof mobile wallets with good UI for widespread use and adoption.
  2. Ethereum(ETH) -- A strong foundation in place for dApps. With the influx of money, dApps are likely to continue to grow in 2018. Ether also is quickly becoming the preferred all-purpose crypto for exchange sites. They are also the current platform for many popular erc20 tokens going into 2018 such as REQ. Even if other dApp platforms take off, ETH looks like a strong contender to try and remain decentralized and innovative with its approaches to the technology.
  3. Stellar Lumens (XLM) -- When people realize this is essentially a slightly more decentralized version of ripple with half the circulating supply and an IBM backing, it will take off. Huge focus on micropayments and quick tx times.
  4. Bitcoin(BTC) -- Bitcoin is a giant question mark. They clearly have the name recognition and "old guard" status, but their fate relies on being able to reduce their high tx fee and times. Plans are in place, but there are strong arguments for both sides of why this may or may not work considering the emerging tech. Regardless, worth investing a portion of a portfolio in due to its store of value status , being able to acquire practically every alt coin out there, and being the most notable crypto in existence.
  5. Request Network(REQ) -- Despite its current run, REQ has one of the strongest roadmaps for 2018. Their actual product is quite simple and yet desirable, as the world as quickly needing an efficient method to transact both crypto and fiat through a trusted source. The ambition comes from their vision to implement this as effectively as paypal. Support from YCombinator and other strong sources will guarantee this is a finished product that could be one of the first to break crypto into the mainstream for mobile and retail purchases
  6. Neo (NEO) -- Dubbed the "Ethereum" of China, it's clear Neo is the frontrunner for dApps in the East going into 2018. China presents a semi-closed off market, and Neo has the most connections and foundation in place. I am bullish af on dApps as you can tell. Deep Brain Chain was one of Neo's first and it is already taking off. I feel like Neo is highly undervalued at the moment and one of the surest bets to see a steady price increase throughout 2018.
  7. Walton (WTC) /VeChain (VEN) -- take your pick, both focused on RFID integration with blockchain. One of the most practical approaches to applying tech to the business world. Currently undervalued!
  8. ICON (ICX) -- another great platform to invest in that has the backdoor to a closed market (Korea). This would have likely risen in price even higher than it did earlier in December if their Main net release wasn't delayed until January. They are the frontrunner to be the best dApp platform for South Korea
  9. Enigma (ENG) -- with blockchains actually being adopted by businesses and institutions, enigma has the current most versatile program for privatizing data on any blockchain. A year of growth would make them look very undervalued right now if we are to be bullish as a whole on crypto in 2018. I think this is much more promising than the current slew of privacy currencies which will likely maintain their value or only slightly rise.
  10. Dogecoin (DOGE) -- because 1 doge will always = 1 doge, and if the entire market crashes, you will want your money in this. Trust me.
I would love to hear your opinions, I'm sure many will disagree. But my portfolio has strongly grown over last year and I am confident in these choices.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

DEVCON2 report: Day Three - Final day

previous days
Question: the 3 days of devcon are over. Are people interested in reports on the next 3 days of international Blockchain week (demo day + 2 days of global Blockchain summit) http://www.blockchainweek2016.org
`
Event update
The buzz during the day was around the "stick puzzle" that Bok Khoo was giving out to people. It is just a stick, with a loop of string. He gets you to turn away, he uses "the trick" to put it onto your bag and then you try to get it off.
The WeChat channel was just filled with everyone asking where they can get it, and the screaming that they can't figure it out. Only about 5 people reported they were able to solve it (I haven't yet)
http://imgur.com/mYfJQP4 http://imgur.com/4Euka1a
`
Sessions
I'm biased, but I thought the announcement from Microsoft with the update of cryptlets was a big deal. The morning sessions covered a few different oracle systems, the afternoon had lots of IPFS sessions.
Microsoft - A Lap around Cryptlets
https://azure.microsoft.com/en-us/blog/cryptletsdd/ https://azure.microsoft.com/en-us/documentation/templates/ethereum-consortium-blockchain-network/ https://azure.microsoft.com/en-us/blog/authomarleyg
Microsoft was a sponsor of Devcon1 & 2 Ethereum is a 1st class citizen Support for community & partners - Bizspark, Meetups, Workshops
Announcing: Bletchley v1 Distributed Ledger stack V1 is a private Ethrerum consortium, that you can spin up for your own enterprise / group
http://imgur.com/olwwd36
Cryptlets are being developed to help with security, identity, etc. How do you get trusted external data feeds injected into the Blockchain? Doing things on a specific interval (every 15 mins) When price of something hits a threshold (oil goes above $40/barrel) Secure IP protected algorithms, but still share with blockchain network. Use libraries for common platforms (.Net, Java, etc)
Cryptlets vs Oracle Cryptlets will have a marketplace on Azure that will allow you to purchase and utilise
Use case: Trigger on an event Wake up on 4pm, if market was open that day, then give me the price of gold for that day.Get signature of attested server, attested sender.
Use case: Control Using smart contract like a traditional DB. Declare data you are keeping track of, and the functions/"stored proc" to update that data. Cryptlet runs off chain, and can be scaled up.
http://imgur.com/ysgL8S2
Utility cryptlet. Use an attribute in solidity contract with cryptlet details Developer references at design time the cryptlet they want the contract to call Contract cryptlet, deploy the cryptlet at same time as contract.
Why would you want Azure to do this? SGX allows you to create "secure enclaves", can have complete isolation on the hardware chip where it is not modifable. Provides a secure enclave at the CPU level. Can give full attestation right down to the silicon. Will be provided as a enclave container on Azure. Will be released for .NET core CLR first, then other languages. Can create cryptlet libraries that you can scale and put into the Azure marketplace. An ecosystem for developers & ISVs to consume and publish.
Bletchley v1 released today will let you spin up a private consortium. Before today, it took a long time to try and deploy a private consortium (can take weeks to read doco, Now takes 5 minutes to deploy! Creates a private consortium, puts each member in its own separate subnet
http://imgur.com/w4yUsqE
Mist Vision and Demo I was too busy sharing the release posts of Microsoft project bletchey v1, missed this talk. It did look interesting, I will watch this one later. Idea: Reward for bandwidth. Providing connection could replace mining as entrance point for desktop computers. Allow you to have a trickle so you can trigger smart contracts. Standardised backends, so that you can swap out the underlying node between geth, blockapps, etc.
Web3.js
https://github.com/ethereum/web3.js Etehereum JS API Smart conracts are EVM opcodes, Helps translates calls to JSON RPC calls. Helps do the ABI encoding when sending data from JS to EVM It kept on growing, many different utility functions being thrown in. Is time to clean it up and be refactored.
They are now building a NEW web3.js The communication will be socket based, will enable subscriptions. Everything will be based on promises to subscribe to events, like log events. Bunch of other newer cleaner methods and ways to do things like deploying contracts.
Smart contract security
Was a very good postmorteum of The DAO and things that could be done to mitigate it in the future.
An issue with The DAO was trying to do a massive jump from centralisation all the way to full decentralisation. Meant no one could step up and make a decision on how to save it. We need to make smaller steps towards full decentralisation as we learn as a community how to do this. Same security patterns as yesterday's talks: check invarients, beware 1024 call stack depth, reentry exploit (update state BEFORE executing calls), timestamps are manipulatable. Updateable contracts. Who can update it? Community multisig? We need better rools: formal verification, compiler warnings, improved IDEs, trusted libraries, excape hatches
Conclusion: It is still very early days in this space, be careful.
A Provably Honest Oracle Model: Auditable Offchain Data Gathering & Computations
Oracalize is the most widely used oracle (until everyone starts using Microsoft Azure cryptlets ;-) ) Contract calls Oracalize contract with the data they want, off chain they see this get the data, Oracalise then trigger their contract externally, which does a callback to your contract with the data. Can use external notary servers. Can get proof from multiple external services to get a higher level of confidence about data (e.g. stock price from a few feeds). Off-chain (auditable_ computation) AWS sandbox 2.0. Put the execution package onto IPFS, AWS gets it and executes it, signs it.
iEx.ec: Fully Distributed Cloud Thanks to the Ethereum Blockchain
http://iex.ec/ Provides blockchain based execution environments Global market for computing resources. Idea is to do what we did before with "grid computing" use the idle capacity of computers. But this time do a trickle of micropayments. Allows people to harness this global power to execute their tasks in a global "distributed cloud".
The Final frontier: The company smart conract
http://otonomos.com/ Helping companies to incorporate on the blockchain.
Smart oracles
https://github.com/smartoracles Connecting to external resources is difficult. Hard to try and use external currencies (like a bank account / fiat money) to make transactions. Could hook in paypal, HSBC, wells fargo, etc. Can provide your own payment services as an API to a smart oracle for smart contracts to consume. Do off chain data storage by calling smart oracle API Roadmap: more data sources & more payment methods
IPFS & Ethereum: Updates
https://Ipfs.io IPFS is AMAZING, seriously go watch the full 1 hour talks Juan has given in previous years.
Current web has current issues. Centralisation, etc. IPFS is a new hypermedia transfer protocol Content can be retrieved not from specific servers, but instead via it's hash so that it can come from anywhere in the network (maybe from the person next to you who has cached it). It is highly modular, all of the transfer protocals, routing, naming, etc. are all swapable Is available as GO-IPFS & now JS-IPFS Means now you can run IPFS in the browser IPFS was great for static content, but not so great for dynamic content. Low latency pub/sub protocol will help with dynamic data. Created a distributed peer to peer chat app using this new dynamic content protocol. IPLD a common link-tree hash format Will be able to use IPFS to retrieve ethereum blockchain blocks DIRECTLY Can use IPFS as a package manager to retrieve them in a distributed manner.
Many projects are using Ethereum & IPFS Uport, Digix, Infura, Ujo, Eris, Blockfreight. Filecoin was created as a way to try and incentivize nodes to keep files longer time. People rent out hdd space to earn filecoin. Exchange bitcoin/filecoin. Use filecoin to store files in network. Filecoin is going to be built on top of the public Ethereum blockchain, as a virtual blockchain / token.
IPFS Libp2p & Ethereum networking
Network connectivity between any 2 nodes can be difficult. Censorship, bandwidth, network issues, etc. Having to deal with different networking topologies and access. Libp2p & Devp2p is different. Devp2p is for Ethereum. LIbp2p is modular, can swap out components to change network access, encryption methods, etc. Can build up a MEGA mesh network, by utilising traditional wired internet, radio, bluetooth between some nodes. Web browser using web socket, to a node, which routes across network, to zigbee to a IoT device. Libp2p & Devp2p could merge and augment each other. Could create the libp2p components to replace the devp2p bits Any 2 nodes that speak the same protocol can communicate and be a part of the network chain. Experiment. They took the browser based version of EVM. Then used Libp2p to talk to the Ethereum network. Had a complete ethereum node running in a browser.
Uport
https://uport.me/ Universal identity platform Current challenges: key management. Ux for average person. Dapps via mobile. Identity and data ownership. How do you keep a consistent identity, even if you lose a key. Have some multisig contracts that you can use to keep track. Social recovery, use your friends to attest it is really you. Keep private key on mobile, do transactions on the desktop, scan a QR code to sign the transaction on your phone and send it off.
A Deep Dive into the Colony Foundation Protocol
It is an open source governance protocol built on Ethereum Problem with voting is how to prevent Sybil attacks. Votes are weighted by a reputation score. Reputation is non-transferable that can only be earned. Total weighted voting helps mitigate this.
Chain orchestration tooling & smart contract package management
Eris is tooling for developers. Package manager to build your own blockchain. Can compose a chain, e.g. geth + tendermint consensus. Init, install, do. Can easily install on Mac/bew, linux/apt-get, Windows/choco
The Golem Project: Ethereum-based market for computing power
http://www.golemproject.net/ Anyone can make an offer to sell computing power. e.g. Distributed rendering Want to create a standard framework that anyone can use to submit and process jobs.
Status: Integrating Ethereum Into Our Daily Lives
https://status.im Want to get ethereum everywhere. "Mist for Mobile" Everyone is using their mobile phones for everything, but mostly using instant messaging. What would Ethereum in a IM window look? Created a IM mobile app that has a local geth node. tart up, it asks you to create a password, it generates a pub/private pair. Then can send messages via whisper, and the messages are signed with your public key. Can load Dapps up in the local webview and interact with them. Allows you to create "chat Dapps", that you interact with via text. Like chatbots
Maker Ecosystem Overview
www.Makerdao.com Dai: seeking stability on blockchain. Stablecoin engine: smart contract that holds collateral reserves and controls the Dai lifecycle. MKR: open source community managing risk of the system In the last year, investing in a solid technical core. More slow and audit things. Moving into the next phase of stablecoin development. Their latest project is the "Simplecoin project" Meeting Thereum community's need for stability. An independent platform for creating centrally administered simple stablecoins. Issues create their own rule sets: Collateral types, participant whitelists, security parameters. Example: Shrutebucks. The only people who own it are Dwight, Jim & Pam. They backed it with 1/3 ETH 1/3 DGX 1/3 DUSD.
Orbit. A distributed peer to peer app on IPFS
https://github.com/haadcode Created a full distributed chat room, itself distributed through IPFS. It is integrated with uPort for identification Using uPort allows you to verify that you are talking to the correct person in the chat channel. All their messages are signed with their public keys He also created a full distribited twitter clone, using uport for the identity as well. Orbit-db key value store DB that stores its data on IPFS. Eventually consistent Appends data to the DB, an event is sent to those subscribed on pub/sub so they can see the latest root hash. Based on CRDT Ethereum + Pubsub + CRDTs + IPFS = super power primatives to build dynamic distributed apps
Development considerations with distributed apps. Need to ensure that apps work offline. No centralised servers. No data silos. Provide integration path.
Future work: could you use uPort for ACL like permissions? Mobile use cases, how to make it work nicely on mobiles
Building scalable React Dapp architecture
https://github.com/SilentCicero/react-dapp-boilerplate React + Ethereum He has a configured boilerplate template. Has contract scaffolding. Enforced contract Linting/testing. Wallet generation/identity. Preconfigured web3 instance. UI: Mature react arhitecture "react boilerplate". Prices listed in USD with ETH/btc via kraken api. A basic multi-contract example Dapp. Offline first, dapp runs without internet. Uses Redux. State models in UI & blockchains work well. PostCSS, CSS Modules, sanitize.cs. Redux, immutableJS, reslect, redux-saga, i18n, redux-router. Web3, ethdeploy, dapple, solium, eth-lightwallet, chaithereum, ethereumjs0-testrpc Enforced contract testing in 2 languages.
Ethereum for Enterprise (BlockApps Strato)
Trying to make sure that Ethereum stays relevent to enterprise development. Why do you need a blockchain WITHIN an org, shouldn't they trust each other? Well different departments may not, they may reconcile differently, and can help automate/orchestrate between them. Blockchain is the "killer app" for cloud financial services. Legacy infrastructure, batch prossing, etc are all restricting fintech from progressing. Blockchain can happen in real time, can replace legacy. Ethereum is very flexible and programmable, works well. There are others based on Bitcoin (like Hyperledger). Ethereum + Blockapps = Extreme productivity + Proven Technology. Blockapps is extending Ethereum for Enterprise. Runs very well on Azure Enterprises don't want all their data exposed on public chain. Blockapps helps solve data privacy and scaling with multichain fabrics.
submitted by DavidBurela to ethereum [link] [comments]

Honest question about scaling via block size (technical)

Hi all, I'm trying to wade through the Great Scaling Debate and really trying to understand what the concerns are on both sides.
I'm aware that the debate (the technical side of it anyway, there's also lots of politics which are hard to follow) is between increasing blocksize on the one hand, and adopting second layer solutions like lightning network on the other hand (which, as we all know, requires segwit, which I admit is at an alarmingly low percentage of adoption weeks after being activated).
Currently Bitcoin Core can handle ~4 transactions/second, and to get Visa-like scale, it needs to handle ~1667 transactions/second, i.e. an increase of 3 orders of magnitude. [1]
So scaling via blocksize only would require a 3 order increase in blocksize, from 1 MB to 1000 MB / block, considerable higher than the recent 8 MB fork and the proposed 2 MB fork. At first blush, a 1 GB blocksize puts me on edge as it seems unwieldy, but the merit of a good technical solution is not whether or not it makes us feel comfortable, but whether or not it's effective.
What concerns me more is some interesting analysis I read [2], which points out that due to disk seek times, even with arbitrarily large block sizes, current disk hardware would max out the transaction rate at 200/sec. And then when you add in the requirement to broadcast all transactions over a network, it could go down to 100/sec.
So, my question is, is there more to on-chain scaling beyond block size increase? Are participants within the community generally aware of these limitations, and if so, are there alternative ways around them, or are there reasons to not be so concerned (i.e. maybe bitcoin doesn't actually need to scale to visa-like?)?
  1. http://www.altcointoday.com/bitcoin-ethereum-vs-visa-paypal-transactions-per-second/
  2. https://www.tik.ee.ethz.ch/file/716b955c130e6c703fac336ea17b1670/duplex-micropayment-channels.pdf
submitted by Nickolai1989 to btc [link] [comments]

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PayPal Digital Goods Micropayments

Commerce giant PayPal has named bitcoin pioneer Wences Casares to its board of directors. Casares is founder and CEO of Xapo, a leading bitcoin wallet company. http://bitcoin-informant.de/2020/09/21974-defi-token-sets-microstrategy-kauft-mehr-bitcoin-exchange-bitflyer-europe-integriert-paypal Hey Informanten, willko... What is PayPal MicroPayment and How Does it Work? - Duration: 7:54. ... Bitcoin and MicroPayments-The Perfect Solution? - Duration: 4:27. GamersGoneTech 304 views. 4:27. How do mobile payments ... Micropayments are small transactions, that enable friction-less and comparatively small payments for content online. Micropayment business models before the invention of Bitcoin had been ... Paypal, Stripe, Square vs Merchant Account ... How likely is it that Bitcoin will become obsolete? Andreas M. Antonopoulos - Duration: 7:57. Bitcoinboy 162,918 views. 7:57. How The Economic ...

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