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AMA Wrap-up & Summary

A very big thank you to everyone who participated in FinNexus’s first ever AMA session in the Wanchain Telegram! We were very pleased with the level of enthusiasm from AMA participants! We’re sorry to say that we weren’t able to answer every single question as we received close to 80 questions, and many of them were similar. However, we did our best to identify all the unique questions and answer them all as fully as possible. We have also selected the top ten 🏆🏆🏆winning questions🏆🏆🏆 of the AMA who’s askers will be receiving $20.00 worth of FNC each at the Wanchain address they submitted after the token generation event scheduled in January.
(Feel free to ask any other questions in response to this post!)

TOP TEN QUESTIONS:

1.🏆 What’s special about Finnexus vs. others in the space? @oluap5773
Our closest competitors are traditional financial institutions which offer low risk, non blockchain based stable return and fixed return products. Our other competitors would be platforms such as Binance and Compound which offer centralized or decentralized stable return products based on crypto lending businesses.
FinNexus has a unique focus on assets with real value built on blockchain infrastructure, which is rare in our other DeFi projects. Unlike Binance and Compound whose stable return products are based on crypto lending businesses, the assets we issue include those based on both real world and crypto businesses, which gives users access to reliable assets which are not correlated with the performance of crypto markets. And unlike traditional institutions, all our products are built on blockchain, which enables them to make use of all the blockchain’s advantages.
2. 🏆 What do you think of the future of DeFi in this space? @salmanmbstu96
Our expectation of the future DeFi is mainly on the application level rather than a technical one.
  1. Borrowing and Lending cannot be everything about DeFi. The growth of the DeFi should be largely diversified to other assets and business models.
  2. The risks in the DeFi world is similar, in other words, most of the DeFi models are facing the same systematic risks, which are with high risk and high expected return characteristics. In cases when the bitcoin collapses, every businesses and scenarios will be affected. This is not healthy.
  3. The DeFi applications are not so user-friendly. One has to take some time to learn how to deal with one decentralized product.
A leading project in the future should have the ability to solve the problems above. Blockchain is a great technology, while the combination with finance cannot avoid the basic logic and be isolated from the successful scenarios and models we built. Different models here mean different application scenarios in the financial world, like the equity rights, debenture rights, derivatives or other beneficiary rights.
The centralized or decentralized cannot be questions like yes or no. During the process of development, there may be something in between. On one hand it is built in a decentralized way and smart contracts are triggered automatically; while on the other hand, it is adapting the realistic that some parts of transactions or measurements must be under centralized regulations. We would like to call it Open Finance, as it is open to both the crypto assets on the blockchain, and the assets off the chain while restructuring their parts in a decentralized way.
In the future, we believe that there will be leading projects, that can bridge the blockchain technology and real world assets, diversify the systematic risks while attracting more users, and be user friendly that the nonprofessional may easily operate.
3. 🏆 Give me reason’s why should I invest in #FinNexus? @cryptococuk01
I hope you read the write paper of FinNexus and got understandings on what FinNexus is about to do. FNC will be the sole token in the FinNexus ecosystem. It is a kind of hybrid token, like a utility token but also benefiting from FinNexus development.
FinNexus will work as the financial product supermarket, Broker, Investment Banker or something alike. It will gain revenue directly from its operations.
Holders of FNC is eligible to the following rights or benefits (will be explained in details on the FinNexus official websites):
1)Rights of higher rate of returns on tokenized products; 2)Rights to invest in tokenized products with lower cost; 3)Benefits on the discount on the transaction commissions; 4)Derivative rights, like early settlement, resale or interest swaps; 5)Rights to interact with WAN; 6)Benefits on the FinNexus’ development; the revenue of FinNexus is from: Underwriting; Investment banking; Market making; Transaction commissions; Investment in tokenized products.
4. 🏆 How can FinNexus goal be explained in layman’s terms? @iamthethirdkind
You can actually get a clue from the project’s name ‘FinNexus’. The name is quite straightforward. FinNexus is the combination of the words ‘Finance’ and ‘Nexus’. It means financial connections. I will explain that in 3 aspects:
  1. To asset owners
Finance here includes the ‘traditional’ and the ‘decentralized’ and traditional finance is only traditional compared to DeFi. Here FinNexus is aiming at providing a solution, which we call it a protocol, where one can link the traditional financial world with the blockchain technology in an efficient, transparent and feasible way. For example, one with assets that have good expected cash flows will find a way to easily tokenize the assets on FinNexus.
  1. To users FinNexus will act as a financial product supermarket. Right now, the DeFi world has a problem that almost all of the crypto assets or financial products bear the same systematic risks, which means when the Bitcoin price collapses, every kind will join the plummet and even the financial models will cease to be valid. One of the reasons is that all assets are purely crypto-born. Moreover, the crypto interface is not so easy for a nonprofessional to operate. FinNexus’ goal is to provide diversification and convenience with assets of real value. Users will be able to invest in assets with various risks and returns here, and can easily choose to their preferences like in a supermarket.
  2. FinNexus Itself
FinNexus is concentrating in the application level, with the help of the two initiators. It will not operate or manage assets directly and will act as a channel or a hub, where supplies and needs are paired, while in later stages, it will strive to build the protocols or standards for all of these tokenizations and transactions.
5. 🏆 What are tokenized digital assets in FinNexus? How is it different from current digital assets? @hg144
The FinNexus team have done researches on the tokenization of real world assets. Right now, only a few groups like the credit assets, supply chain finance or other sub-dividable beneficial rights seem most feasible. These tokenized products may bear characteristics like equities, debentures, derivatives or other beneficiary rights.
The noticeable differences lie in the nature of the products. The returns are from the cashflow of the real world assets, rather than mining, staking, speculating, etc. FinNexus combines the decentralized and centralized means. The tokens have advantages on chain, while the product design and disclosure draw lessons from traditional finance.
Apart from that, there will also be products totally on chain, triggered by smart contracts, like crypto futures, options, and ETFs, with user-friendly interfaces.
6. 🏆 What are the advantages and disadvantages of FinNexus when developing in a large market like China? Do you have plans to develop other regions? @hiampluto
Advantages:
(1) The blockchain industrial environment and public opinion guidance has changed since China’s President Xi Jinping recent announcement. The word blockchain has been mentioned in social media time and time again, and almost everyone is trying to find out what it is. President made it clear that the country would encourage enterprises applying the technology into real world scenarios.
(2) China has the largest population and made great technological progress over the last decade. Blockchain projects, communities, exchanges, token funds, medias, and other participants have established a complete and dynamic ecosystem. FinNexus is easy to access to these resources.
(3) Financial market in China has been making great progress, which provides FinNexus with adequate talents, financial products and potential users.
(4) The two initiators Wanchain and SuperAtom (incubated by Cheetah Mobile) are all based in China. They both give FinNexus big financial, human-power and community support, with minimum communication cost in the same city.
Disadvantages:
(1) Activities like ICOs or other forms of public fund-raising are still restricted;
(2) The government’s attitude towards the security-like tokens and tokenization is still not clear;
(3) Language and time zone discrepancy may cause difficulties.
FinNexus is aiming to build a global open finance protocol. Blockchain should be boundless, and so will be our users and assets. Our first product’s basic asset is in SE Asia. We are now building teams, grouping communities, and recruiting regional ambassadors. Also, we are making continuous and effective interactions with the global communities of Wanchain and Bitrue.
7. 🏆 FinNexus’s team consists of experienced and brilliant individuals. What made them to unite together and work in unison for the fulfilment of it and how does it act as an advantage compared to other projects in terms of brainstorming and guidance? @cryptollll
Though key members of FinNexus team seem to have different educational backgrounds or working experiences, we come together with the same beliefs and goals. The same purpose has united us together and after grinding-in over one and a half years, we are working together energetically and harmoniously, which provides a foundation for the success of FinNexus. It is not the first time we work together and we knew each other with for long time. The details of resumes are on the website.
8. 🏆 Many blockchain projects and companies focus on making very complex systems, say they will revolutionize the society, and help the unbanked. Since you work directly in the area, how realistic do you think such statements are? @lucbazanse
The team has been working together for more than a year already. FinNexus is a project at the layer 3 level in the blockchain system, targeting at the application usage. The team believes that no matter how innovative or revolutionary a new technology is, if it fails to be conveniently applied in everyday use or have efficient or cost-saving solutions to users, we cannot call it a successful technology.
Therefore, we will build our application on top of the successful public chains and concentrate in providing financially practical and risk diversified products and user friendly applications. We doubt that the unbanked can be helped by a complex system. Unbanked group of people usually exist in the less developed regions that lack basic infrastructure. They may not well educated or lack the basic understanding of the technology or even ideas of modern financial or banking system.
Therefore, the application is most important. A successful project should provide them with friendly interfaces and convenient accesses, aiming directly to their basic needs, no matter how complex or innovative the technology is. That’s what FinNexus is trying to do, to provide what is needed the most in a simple and understandable way.
9. 🏆 Which way you will offer token sale?
We create a new way of the token sales together with launching our products. FinNexus’ will issue its CFNC (convertible FNC), which gives holders the right to convert into ABT in the conversion period. The holders of ABT are eligible to the benefit with an annualized rate of return at over 10%. ABT is called the Asset Backed Token in general, in specific, the return of the token is backed by the consumer loan assets in Indonesia, with the originator SuperAtom, which is initiated by the NYSE listed company Cheetah Mobile, as the basic asset. It has a traditional hierarchical design and the ABT is the token in the senior tranche. The details will be disclosed in the Offering Circular on the FinNexus website later.
We strongly recommend the interested blockchainers to check the details on www.finnexus.io
10. 🏆 Can you tell more about road-map for future developments? @toanphamhd
In phase one, before the end of 2019 or early in 2020, FinNexus is introducing ICTO, combining the fund raising process with its products. Instruments with the essentials of ABT are likely to be one of the major products offered to users, with different systematic risks from the crypto assets. Before the first quarter of 2020, other products like the borrowing and lending, hedging, ETF and staking are likely to be issued, as well as the other schemes of the ABT products. FinNexus will also cooperate with at least three of the token exchanges, crypto wallets or other channels as the sale portals.
In phase two, before the end of 2020, FinNexus will search for the qualified assets globally and combine the blockchain technology with the real world application scenarios in vaster occasions. And FinNexus work with other mainnet projects to launch its new products and interactions with the chain tokens. Moreover, FinNexus will facilitate the trade of the ABT and other similar products on the OTC market. The experience of the traditional financial market shows that the OTC transactions of these products have even higher volume than the bidding mode in the exchanges.
In the third phase, in three years, FinNexus’ goal is to build an open finance protocol. This protocol is established on Layer 3, targeted on the application level. It will provide the basic standard for the tokenization and transaction for all types of assets, both in traditional finance and in the crypto world. All assets that provide future returns will be programmable with blockchain in the future and FinNexus is defining a protocol that provides the standards and convenience in realization. Different assets may apply to various requirements in details, but the common language lying in is what FinNexus is chasing for.
While in the coming days, we would expect 1) the release of the detailed conversion and subscription rules on the website; 2) the release of the ABT offering circular to give a detailed explanation on the risks and returns; 3) setting the timetable for offering and listing of FNC.

RUNNER UP QUESTIONS

11. What is the current development progress of the project, and when is the main online release? @btc4life76
The first product will be released together with ICTO process, details of which you may check on the FinNexus website. Right now, the product is under the final stage of development and the team are working on the necessary information disclosure materials and the design of tokens on Wanchain. The planned release time will be before the end of this year or early next year.
12. “What are the recent change in high-level strategy in product design and development? How will it help the #FinNexus to move further with the safest & fastest Blockchain technology?” @ahmetumit08
FinNexus is a project built on layer 3 and concentrates on technological application. ‘We are the portal to the users and we need to make it simple, convenient, understandable and transparent’.
The advantage does not lie in the sophistication of the underlying technology, but in the application level. To establish an Open Finance Protocol, FinNexus has to move earlier and faster than the others, and at present, it is the first in the industry to put forward this concept.
In product development, we will make each code be used in real use case and keep improving in practice. In the beginning, we will built a layer 3 for assets tokenization and distribution, fee and interests distribution, buying and withdrawing. Users (business users) do not need to connect public chains, but use our SDK or API to interact with different chains. Recently we are focusing on protocols with smart contracts that asset tokenization could be easily deployed by FNX layer 3. And then we will focus on the protocol of decentralized token distribution. That means anyone who wants to sell assets tokens in FinNexus only need to download our SDK or connect our API.
13. How many different types of assets can be expected in the first quarter of 2020 . What will be the jurisdiction of assets and how will FinNexus avoid people from holding assets from restricted jurisdictions? @anon
As a project incubated by SuperAtom, the UangMe assets will work as an initiator, and it has the potential of the amount of 100M USD. In the meantime, similar assets in Malaysia are under discussion. In addition, there will be other types of products the users may expect in the first quarter of 2020, like crypto borrowing and lending products, easy-operating crypto-currency derivatives, ETF products, staking related products, etc., and they are all under development right now.
We have a legal team that help us deal with the jurisdiction issues. We will monitor the changing legal environment around the main countries and regions. KYC procedures are necessary for avoiding investors from holding assets from restricted jurisdictions.
14. How FinNexus and Wanchain both can get benefitted using each others protocol? @salmanmbstu96
FinNexus is the layer 3 which can make users, especially business users, to use Wanchain easily in financial aspects. And FinNexus focuses on different assets, that could grant Wanchain with more applications to run. In most of financial scenarios, multi-coin will be used, so we can use the cross-chain protocol of Wanchain. If Wanchain protocol is like a highway road, FinNexus protocol is working as an assembly line.
15. What do you think about Defi Landscape right now? @paraphan1992
Now, many DeFi projects are limited to the products and applications with the pure crypto assets. They can be highly decentralized and automated, but is it enough?
1) Borrowing and Lending is the first natural DeFi application scenario and contributes to over 90% of the application scenarios. It cannot be everything about DeFi. The growth of the DeFi should be largely diversified to other assets and business models.
2) The risks in the DeFi world is similar, in other words, most of the DeFi models are facing the same systematic risks, which are with high risk and high expected return characteristics. In cases when the bitcoin collapses, every businesses and scenarios will be affected. This is not healthy. Tokens transactions with high risks and the relating credit activities cannot be the whole world of DeFi. FinNexus is trying to introduce financial products with different types and levels of risks and expected returns, to enrich the products desperately needed in the industry.
3) The DeFi applications are not so user-friendly. One has to take some time to learn how to deal with one decentralized product. FinNexus aims at providing something that is transparent with the information needed for the investors to make judgment while easy to handle.
Right now, Maker is trying to move to Multi-Collateral Dai (MCD), a big step to make the DeFi model richer and healthier. Also they introduce Dai Savings Rate (DSR), which may have the potential to be regarded as one of the standard rates. In the future, we may witness wider real world assets and application scenarios in DeFi and that is the path that DeFi is bound to follow.
16. Can FinNexus support smart contracts? @btc4life76
The answer is yes, smart contracts will play important roles in the FinNexus products. The first phase of products will be built on Wanchain and according to the ICTO rules, the ABT conversion and the future payment of principal and interest of ABT will all be supported by smart contracts. Again, for details of ICTO please check our website. In later phases ,we will develop other products based on ETH or other chains according to the users’ requirements and asset characteristics; and smart contracts will be richer and more diversified.
17. Why do we need DEFI? What is the new thing that DeFi bring to us? Was your project born for that? @oluap5773
A: The decentralized blockchain technology needs application scenarios, and the finance needs the innovative technology to solve its own problems, thus here comes the merge of the two.
Bitcoin brings the blockchain technology into our sight and until now, it has 70% of the total value of crypto assets. Bitcoin is born to facilitate the financial transactions and most of the project henceforth cannot be isolated from the financial fields. There is an inevitable bond since the birth of the technology, and finance is always the natural experimental field of blockchain.
The problem of information asymmetry is always puzzling investors and regulators. Most of the solution came from a centralized way from the authorities before, while the result was much diversified among regions. With the emergence of blockchain, it provides an alternative solution to this long-lasting issue. It is trustworthy, non-modifiable and self-proved. Moreover, it is bondless and anti-authorized, which can largely reduce the cost of international transactions while enhancing the efficiency. The technology is self-organized, decentralized and automated. DeFi has the potential to change the governance structure and investment behavior in the financial world.
Tens of years ago, the internet has brought finance efficiency and popularization. Today blockchain is about to change the financial system again. It introduces the participants into a new territory that is bondless, decentralized, trustworthy, and equal. It will largely decrease the cost of centralized supervision, the risk of information asymmetry and the barrier among economic entities. Many business formats will change concerning the technology, including the economic entities, governance authorities, market intermediaries, exchanges and the transaction behavior of investors. For example, in the future, it is expected that the basic bookkeeping of a business entity will be on blockchain, and all of the operational activities like procurement, production, sales, inventories, invoices, taxations, employments, etc., will be dealt with and recorded in a decentralized way. Therefore, the auditors’ jobs are shifting from the bookkeeping test of accuracy to the verification of the validity of the chain.
Of course, FinNexus is born to be part of the big change, and we strive to be one of the driving forces of the financial decentralization progress. The goal of FinNexus is to build an Open Finance Protocol. The protocol is like a channel or a standard, to allow all kinds of assets, whether decentralized or centralized, whether with characteristics of equity, debenture, derivative or other hybrid, to find its path towards tokenization with the blockchain technology. By maintaining the basic business logic and learning from the traditional financial model, FinNexus will combine with the advantages of the blockchain technology, to make investors truly benefit from decentralization.
18. Which target users does FinNexus aim to serve? Will its technology be easy for participants to use but still ensure open, transparent and equal way? @paraphan1992
FinNexus aims to serve those who know blockchain and have invested in crypto assets or DeFi products, those who know real world investment but little about blockchain, and those who know little about crypto assets or financial investment but interested in the blockchain technology and curious on the virtual assets.
The meaning of ‘Nexus’ has many parts, and one is to make connections with different market participants. FinNexus will work through protocols and try to act as a channel. In future stages, it will make connections with the OTC markets providing fiat and crypto currency exchanges. Through these protocols, non-crypto users will be able to invest in the FinNexus products.
As FinNexus is built on Layer 3, the protocol will be built combining the decentralized and centralized solution. User-friendliness is a must. By means of easy interfaces, full information disclosure and integrated protocols, users with various degree of knowledge and different risk tolerance are able to get their suitable investment, easily and transparently.
whether decentralization or centralization, are means not targets.
Openness, transparency and equality are necessary to lower credit risks in financial activities. The subscription, transaction, interaction and distribution of financial products will be on chain in a decentralized way, implemented by smart contracts; while the information disclosure, real assets collateral and basic assets operation will be off chain in a centralized way. FinNexus protocols will work to achieve such goals.
submitted by noahniuwa to finnexus [link] [comments]

ShionCoin Console Basics

The following is a brief overview of the commands provided by the "shc" utility console program.
The utility program "shc" communication with the server (shcoind) are restricted to the local host that the service is running. You must use the stratum API in order to access the server from a remote machine.
A sub-set of all the commands are provided here. This guide attempts to concentrate on commonly used commands that are useful. Run "shc help" for a full list of commands. Run "shc help " for details about running that particular command.
You can enter an interactive mode by running "shc --prompt".
Run the daemon with "shcoind --debug" in order to print additional information to the log file (on linux, "/valib/share/shcoind.log") for diagnostic purposes.
ShionCoin "pub-key" coin addresses typically starts with "S" or "R". A "script address" will start with "1" and a seg-wit address will start with "3". Coin addresses are verified when entered on the command-line in order to ensure that the address is prudent in respect to the coin interface.
All fees for extended transactions, such as creating context and aliases, are either stored (for update purposes) in a local extended account and/or are provided as mining fees. You can use the "wallet.donate" command to intentionally create a transaction which includes a specified mining reward value.

Wallet Commands

The wallet commands provides capabilities to transfer funds and manage accounts. Each account can contain several coin addresses and has a counter-part "extended account" that is not visible.
Wallet Info: wallet.info
Display statistical and runtime information on wallet operations.
shc wallet.info { "version": 3010000, "walletversion": 60000, "balance": 658, "keypoololdest": 1517000561, "keypoolsize": 101 }
Create Coin Address: wallet.new
The "wallet.new" command is used to create a normal (non seg-wit) coin address and associate it with an account name. Coin addresses may be automatically generated for accounts, for example in order to return "change" in a fund transfer transaction. All change is directly returned to the associated account.
shc wallet.new test S2fzfzf1SStvaMzjGpCtYKxY3t8PXus9Ci
List Accounts: wallet.list
The "wallet.list" command provides a balance of all accounts in the coin wallet.
shc wallet.list { "": 0, "bank": 658, "system": 0 }
Three accounts are created by default. The "" account receives coinbase rewards which are then distributed to users based on their stratum stats. The "bank" account is a 0.1% cut of the rewards received from the stratum mining pool. The "system" account is currently reserved for a cpu-miner which attempts a single mining operation each time new task work is assigned to miners. The frequency of how often this occurs is based on tracking the "luck" of past attempts.
List Coin Addresses: wallet.listaddr
The "wallet.listaddr" command will list all of the coin addresses associated with an account.
shc wallet.listaddr test ["S2fzfzf1SStvaMzjGpCtYKxY3t8PXus9Ci"]
Create Transaction: wallet.send
The "wallet.send" command is the primary method of sending funds.
All ShionCoin transactions are sent with at least the 0.0001 SHC minimum fee. Providing the minimum fee is provided, any fee can is permitted and affects the priority of the transaction.
shc wallet.send bank S2fzfzf1SStvaMzjGpCtYKxY3t8PXus9Ci 10 307711dace8c0583b744af8acd1df2073e36b0c7a54b8830a15ae146f8c22ddb
Test Create Transaction: wallet.tsend
You can "test send" a transaction in order to determine the aproximate fee and size that would result.
shc wallet.tsend bank SLbnKamvSx8FhaBNpHUwffFDLZ16J8phdX 10 { "amount": 10, "tx-amount": 98.999900, "size": 300, "virt-size": 226, "fee": 0.000100, "inputs": 1, "priority": 1085539000000 }
Create Batch Transaction(s): wallet.bsend
The "wallet.bsend" command allows you to transfer funds that are more complicated than would be permitted in a single transaction. Multiple transactions will be created, as neccessary, in order to send the specified coin value. The total value commited to be sent may be lower than the value requested under certain circumstances.
Create Certified Transaction: wallet.csend
The "wallet.csend" associated a pre-created certificate with the coin transfer. The certificate may be used to associate with the certificate, or provide a method to identity the source of the funds.
shc wallet.csend bank SLbnKamvSx8FhaBNpHUwffFDLZ16J8phdX 10
Create Stamp Transaction: wallet.stamp
The "wallet.stamp" command allows you to create a short message (up to 135 characters), or reference a geodetic location, to associate with a local coin address. The stamp transaction is the exclusive method of claiming spring matix location coins. Creating a stamp in the format "geo:," will result in a single SHC coin, once processed on the network, being rewarded for all locations not yet discovered in the spring matrix. A minimum transaction fee (0.0001) is applied for each stamp transaction created.
Use the "ctx.findloc" command in order to search for locations active in the sprint matrix.
Validate Address: wallet.donate
Donated coins are added to the upcoming block reward. Donations may be optionally associated with a certificate. The maximum donation value in a single transaction is 500 coins. Donations are associated with the coin address that generates them, and may contain a geodetic stamp depending on configuration and availability.
The total cost will include the donation coin value specified plus a minimum transaction fee (0.0001 SHC).
{ "version": 1, "flag": 1025, "txid": "ace04609d0eca593b73a3f1afb1dcfeb10049c4ab4098ff9b17e01da65bf2ec6", .. "ident": { "version": 3, "expire": " ", "geo": "46.770000,113.980000", "addr": "SFrXpo9ykcSeycTdMaFu3xWwJFxN5gkUH4" } }
Validate Address: wallet.validate
The "wallet.validate" command returns general information about the coin address specified, including whether the coin address is contained in the local wallet.
shc wallet.validate SLbnKamvSx8FhaBNpHUwffFDLZ16J8phdX { "isvalid": true, "address": "SLbnKamvSx8FhaBNpHUwffFDLZ16J8phdX", "ismine": true, "account": "system" }
Validate Address: wallet.key
Obtain a code that identifies the private key of a coin address.
Validate Address: wallet.setkey
Create a new coin address, for the specified account, with a private key code.
Validate Address: wallet.keyphrase
Obtain a set of phrases that identify the private key associated with a coin address.
Validate Address: wallet.setkeyphrase
Create a coin address in the wallet given a key phrase.
Export Wallet (json): wallet.export
Creates a JSON formatted backup of all the accounts managed.
Export Wallet (datafile): wallet.exportdat
Creates a binary backup, in the tradition bitcoin wallet format, of all the accounts in the wallet.
Import Wallet (json): wallet.import
Creates a JSON formatted backup of all the accounts managed.
Scan Wallet: wallet.rescan
Cycle through all known wallet transactions and verify their state in the block-chain.

Block Commands

BlockChain Info: block.info
Print summarized information about the block-chain.
shc block.info { "version": 2000000, "blockversion": 2, "walletversion": 60000, "blocks": 77029, "difficulty": 0.000488, "pooledtx": 0, "currentblockhash": "5c4e3a637d857c7df925dda1c017dd3864c0fb95c1421276619810f5b95fc8c5", "errors": "" }
Print Block (hash): block.get
Print detailed information about the specified block hash.
shc block.get bc157eefd48e18152c70ad2937bd44e6bb38d218bf13c262a844a3d0ae9264d6 { "blockhash": "bc157eefd48e18152c70ad2937bd44e6bb38d218bf13c262a844a3d0ae9264d6", "version": 536870912, "merkleroot": "5bda555d945bc36806f1eb4913a47a2ecad4569133cce1d59bd82ad94e7be1c6", "time": 1521898215, "stamp": "03/24/18 07:30:15", "nonce": 4422421, "bits": "1e07ffff", "previousblockhash": "3312abddb29aea55f44a0e3c52d397d3041b9e2deaa160f2ac415cdca05057b9", .. }
Print Block Hash (height): block.hash
Obtain the block hash for a specified block height.
shc block.hash 77022 bc157eefd48e18152c70ad2937bd44e6bb38d218bf13c262a844a3d0ae9264d6
Export BlockChain: block.export
Export an entire block-chain to a binary file. The actual export of data is performed asynchronously (in the background), and the log file should be reviewed to determine when the operation is actually done.
shc block.export /root/.shc/block.bin { "mode": "export-block", "minheight": 0, "maxheight": 0, "path": "/root/.shc/block.bin", "state": "init" }
tail /valog/share/shcoind.log ..
[03/24/18 07:47:14] info: shc: PerformBlockChainOperation: saved 77105 blocks to path "/root/.shc/block.bin".
Import BlockChain: block.import
Import a previously exported block-chain into the live system. The imported file will only over-write block records that do not previously exist.
BlockChain Scan: block.verify
Perform an integrity check against the last X blocks in the block-chain.

Transaction Commands

Print Transaction: tx.get
Print details for a particular transaction from it's transaction hash.
shc tx.get 307711dace8c0583b744af8acd1df2073e36b0c7a54b8830a15ae146f8c22ddb { "version": 1, "flag": 1, "txid": "307711dace8c0583b744af8acd1df2073e36b0c7a54b8830a15ae146f8c22ddb", .. }
Print Transaction: tx.pool
Print details for all transaction currently pending in the active "mempool" queue. These are transactions that are actively being inserted into mined blocks.
Print Transaction: tx.validate
Validate a transaction hash associated with the local wallet. Prints summarized information about all local coin addresses associated with the transaction.
shc tx.validate 307711dace8c0583b744af8acd1df2073e36b0c7a54b8830a15ae146f8c22ddb [{ "spent": "false", "ismine": "true", "address": "S7viXBKwUZKy4aPCby3oXzWFDxhZKjGipA" }, { "spent": "false", "ismine": "true", "address": "S2fzfzf1SStvaMzjGpCtYKxY3t8PXus9Ci" }]

Peer Commands

Import Peers: peer.info
Display a summary of information relating to connected peers.
{ "clientversion": 3010000, "protocolversion": 2000000, "socketport": 24104, "connections": 3, "networkhashps": 11609, "errors": "" }
Import Peers: peer.list
Display information about each node peer currently connected to the coin interface.
Export Peers: peer.export
Export all of the known peers to a JSON file.
shc peer.export /root/.shc/peer.json { "mode": "peer.export", "path": "/root/.shc/peer.json", "state": "finished" }
Import Peers: peer.add
Import a JSON file containing node peer information.
Remove Peer: peer.remove
Disconnect and remove the specified peer from the system.

Context Commands

Context Info: ctx.info
Print the current fee to create a context transaction and the total number of context records in the system.
{ "fee": 25, "total": 1 }
Print String Context: ctx.getstr
Prints the ASCII value associated with a particular context name.
shc ctx.getstr "test name" test value
Print Context: ctx.get
Prints detailed information about a context record given it's context hash.
shc ctx.get ab5b128ce3674f81f0271efbbbb191fed56e9a80 { "version": 3, "label": "ab5b128ce3674f81f0271efbbbb191fed56e9a80 test name (1zgfTHd5BQA)", "expire": "Mar 23 08:28:39 2020", "flags": 10244, "signature": "e0539d3ecb54c5c0a29ccd69f0b03dfdfb58bc24", "hash": "ab5b128ce3674f81f0271efbbbb191fed56e9a80", "valuesize": 10, "valuecrc": "1zgfTHd5BQA", "tx": "0dbf21191091e33ad7be3b1ce1983ffffdbedeb804e3ce934021f0fad038d50e" }
Create String Context: ctx.findloc
Search for a location by it's name or with geodetic cordinates.
The "ctx.findloc" will scan an area and attempt to find a location within it. This area includes a span of about 100 sq. miles. The closest location with the smallest precision found will be returned. In addition, geodetic information provided by the share library is also utilized.
shc ctx.findloc "geo:46.9,114.2" { "name": "missoula, mt", "summary": "Montana", "zone": "America/Denver", "code": "MUNI", "country": "US", "geo": "46.94000,114.04000", "type": "Municipal Zone", "springable": "false" } shc ctx.findloc "Missoula, MT" { "name": "missoula, mt", "summary": "Montana", "zone": "America/Denver", "code": "MUNI", "country": "US", "geo": "46.94000,114.04000", "type": "Municipal Zone", "springable": "false" }
Note: The "springable" value denotes whether the geodetic location can be claimed in the SHC spring matrix (see "wallet.stamp").
Create String Context: ctx.getloc
Print detailed information about a particular location by it's name or geodetic cordinates.
The "ctx.getloc" command requires specific cordinates to be specified when a latitude and longitude is specified.
ctx.getloc "Missoula Creek" ctx.getloc geo:46.9846,114.1213
Note: The "springable" value denotes whether the geodetic location can be claimed in the SHC spring matrix (see "wallet.stamp").
Create String Context: ctx.setstr
Create a text format context value. This establishes a simple name=value relationship.
Context names are stored as hash keys. Therefore, the string name of the context key must be known before-hand in order to perform the lookup. A small label is also provided as part of the context record which includes a snippet (or all of) the context name.
Context records are signed against the coin address that paid to generate the transaction. Context transaction typically cost about 25 SHC or less to create. A context will expire two years after the date at which it is either created or updated. The owner can update a context by creating a new one with the same name as a pre-existing one. The "context hash" that identifies a context is also the key hash of it's label. The context is shown as part of the transaction details.
shc ctx.setstr test "test name" "test value" { "version": 3, "label": "ab5b128ce3674f81f0271efbbbb191fed56e9a80 test name (1zgfTHd5BQA)", "expire": "Mar 23 08:28:39 2020", "flags": 10244, "signature": "e0539d3ecb54c5c0a29ccd69f0b03dfdfb58bc24", "hash": "ab5b128ce3674f81f0271efbbbb191fed56e9a80", "valuesize": 10, "valuecrc": "1zgfTHd5BQA", "tx": "0dbf21191091e33ad7be3b1ce1983ffffdbedeb804e3ce934021f0fad038d50e" }
Create Geodetic Context: ctx.setloc
The "ctx.setloc" command creates contextual information about a specific place.
The command includes information about a location zipcode, name, and description. In addition, an optional place type code, country code, and web-url can be specified.
The place type corrosponds to one of the codes returned from the "ctx.loctypes" command.
This command has two different modes. One corrosponds to giving a name to a particular geodetic latitude and longitude corindate, and the other includes providing details about that particular location. A single location (as specified by latitude and longitude) may have multiple names, but it limited to a single set of details. Although some common places may be reserved from use (such as common city names), the application of detailed information to a geodetic location comes on a first-come-first-serve basis. Note that context information expires after two years.
The size of the area being referenced is dependent on the place type specified. For example, "AREA" spans roughly 30 sq. miles, while "SPOT" only spans 8 sq. feet. This precision is used in relation to geodetic lookups performed.
shc ctx.setloc test geo:46.9846,114.1213 "Bitterroot Creek" STM US shc ctx.setloc test "Missoula Creek" geo:46.9846,114.1213
Create Identity Context: ctx.setid
Create a binary context from the raw command-line argument specified.
Create Binary Context (raw): ctx.setbin
Create a binary context from the raw command-line argument specified.
Create Binary Context (file): ctx.setfile
Create a binary context from the absolute path specified.
Print Location Types: ctx.loctypes
Print out all suported location type codes for use with the "ctx.setloc" command.
[{ "name": "AREA", "desc": "General Area", "prec": 1 }, { "name": "MT", "desc": "Mountain", "prec": 1 }, .. }

Address Alias Commands

Alias Info: alias.info
Print the current fee to create an alias transaction and the total number of alias records in the system.
shc alias.info { "fee": 31.250000, "total": 1 }
Create Address Alias: alias.pubaddr
Create a persistent public association with a name and a coin address. Once confirmed, the coin address can be referenced as "@" in command-line operations.
When a coin address is specified the alias label will be published onto the block chain in reference. If the alias label already exists, then a transfer will occur providing you are the original owner.
A coin address will be automatically created if none is specified. Only "pub-key" coin addresses are currently supported. An alias will expire after 12 years.
An alias cost around 30 SHC to create and will decrease over time.
shc alias.pubaddr test S2fzfzf1SStvaMzjGpCtYKxY3t8PXus9Ci { .. "alias": { "version": 1, "label": "test", "expire": "Mar 21 09:37:40 2030", "type": 30, "addr": "S2fzfzf1SStvaMzjGpCtYKxY3t8PXus9Ci", "type-name": "pubkey" } }
shc wallet.send bank @test 2 d438fea502b7113f155617fc1b400161bb3045645094df5423ce7e484fadf7f2
List Address Alias: alias.list
Print all aliases that match the keyword provided.
shc alias.list { "test": { "block": "79b04f63fe5602f40bc559b1c5b39b730a2d6ea2d6b4ab491904d6054b1add71", "tx": "abb12ed2f4a74c58432afa9e19c08afad1d3dd84052f23be534e96ed53e11d4f", "alias": "77135966b271a06928cdff5548dbbaed61ee7250", "addr": "S2fzfzf1SStvaMzjGpCtYKxY3t8PXus9Ci" } }
Print Address Alias: alias.getaddr
Print details about a particular coin address alias given it's name.
shc alias.getaddr test { "version": 1, "label": "test", "expire": "Mar 21 09:37:40 2030", "type": 30, "addr": "S2fzfzf1SStvaMzjGpCtYKxY3t8PXus9Ci", "type-name": "pubkey" }

Certificate Commands

Certificate Info: cert.info
Prints the current certificate transaction fee and the total number of certificates created on the block-chain.
shc cert.info { "fee": 14.750000, "total": 1 }
Certificate Info: cert.list
Search for a certificate given the provided keyword.
shc cert.list test { "test certificate": "8069f1bbfb435cfa1efdb454684446528343b809" }
Certificate Info: cert.new
The "cert.new" command is used to create a new certificate on the block-chain. The certificate than may be used to derive other certificates or dispense licences. The certificate may have an optional fee specified that will be required to derive or license it.
A certificate can either be designated for issueing other certificates or granting licenses, but not both. Either form of the certificate may be used in order to donate or send a certified coin transfer.
A certificate is signed against a private key that is generated from the associated extended account coin address. You may optionally specify a hexadecimal seed to use for generating the private key. The certificate's private key is not stored in a database or a transaction, and requires the original coin address to be present in the local wallet to be determined. The public key is provided as part of the certificate transaction, and can be used in order to verify the integrity of the associated signature.
The average fee for registering a new certificate is initially about 15 SHC and will decrease over time. The details of the certificate are visible in the underlying transaction that it was generated in.
The frame-work of the certificate is designed to be compatible with the x509 format. See the "shcert" share library utility program for more information on exporting x509 certificate created on the ShionCoin block-chain. Certificates may also be used to provide licensing authentication to run or provide features to programs using the share library "esig" functionality (see the "shesig_verify()" function).
Note that the certificate may contain identifying information such as the originating coin address and, when available, the geodetic location.
shc cert.new test "test certificate" { "version": 1, "flag": 17, "txid": "18d0a73c96af3dd211f27e4ada898e13b4cf25223da2591289edb8a1e86f1129", .. "certificate": { "version": 3, "label": "test certificate", "expire": "Mar 24 04:13:46 2066", "geo": "46.770000,113.980000", "addr": "SC2j6kxbrKzfpxsGqBQSrxeDh2CdPn1TLJ", "certhash": "8069f1bbfb435cfa1efdb454684446528343b809", "issuer": "0000000000000000000000000000000000000000", "serialno": "0c96a132d74df2522f38babf0733224c", "flags": 10244, "signature": "0d5a4e6c7d4975ee443cfc2e057d3d76070bd2f5", "sigpubkey": "0334d9f89253fa0837a1524266414509bdce478368" } }
Certificate Info: cert.get
Print the details of a certificate record given the certificate hash.
{ "version": 3, "label": "test certificate", "expire": "Mar 24 04:13:46 2066", "geo": "46.770000,113.980000", "addr": "SC2j6kxbrKzfpxsGqBQSrxeDh2CdPn1TLJ", "certhash": "8069f1bbfb435cfa1efdb454684446528343b809", "issuer": "0000000000000000000000000000000000000000", "serialno": "0c96a132d74df2522f38babf0733224c", "flags": 10244, "signature": "0d5a4e6c7d4975ee443cfc2e057d3d76070bd2f5", "sigpubkey": "0334d9f89253fa0837a1524266414509bdce478368", "txid": "18d0a73c96af3dd211f27e4ada898e13b4cf25223da2591289edb8a1e86f1129" }
Certificate Info: cert.derive
Derive a certificate from another certificate. You can optionally specify a fee to be associated with the new certificate, and a fee may be required if one is associated with the parent certificate.
Certificate Info: cert.license
Generate a license from a certificate. A license represents authorization to use a particular product and typically requires a fee to be paid. You can optionally specify a hexadecimal seed to be used when creating the certificate's private key.
Certificate Info: cert.export
Exports the private key information from the extended account that is used to claim ownership over a particular certificate.
Ownership and management of a certificate depends on having specific coin address key(s) in the coin wallet. Exporting a certificate provides JSON formatted content which can be used with "wallet.import" command to attain ownership of a certificate.
submitted by shioncoin to u/shioncoin [link] [comments]

Business Owner Mining Pools

Might be better suited for /bitcoinmining but this question is for all of you who currently accept bitcoin as a vendor of goods or services.
I'm proposing we start our own bitcoin mining pool. The time is ripe for it, and the reasons are a-plenty.
First, as business owners who are investing into the bitcoin economy, we rely on strengthed and competitive mining. As difficulty goes up, the weaker elements will not see a profit, so they'll fall away, possible concentrating mining power into the hands of the powerful.
Second, it's a common question asked by newbies: "What if a government starts doing all the mining?" By offering our future customers a considerably safe answer ("We're against that idea and we're mining to produce a safer network"), we're showing good will towards the economy.
Third, it's part of the guerrilla warfare specifically needed to defend against powerful parties. Mining IS guerrilla warfare -- if just 10,000 business owners ran Jalapenos, en masse it's not a bad defense, and it's very difficult to DDoS 10,000 people.
Fourth, it shows investment. I have no idea what it costs to mine (electricity wise), but I'm already making good (minimum wage) income on my bitcoin sales, and I would like to provide something back to the network. I want my customers to see that I support the network, without a mining profit incentive.
Fifth, it develops a confirmable feedback structure -- if you're a business owner who accepts bitcoin, and hopefully you're one who has considered following part of my Bitcoin Oath, it is even more positive for your reputation to be part of a mining pool focused solely on supporting the network openly, rather than pure block reward profit.
Sixth, it puts pressure on future miners who might start actively denying low fee transactions. Since we want to encourage a higher M(v), I would guess that our pools would allow for any size of transaction -- other than finding ways to reduce blockchain "spam" maybe.
We make our profits selling goods and services, and we rely on a healthy competitive network to do so. Let's consider starting some business owner mining pools (plural) to give back to that which helps provide for our benefits.
TL;DR -- We business owners should mine to show good will and support for the network, not for mining profits.
submitted by abdada to Bitcoin [link] [comments]

PoW with Stake in Karbo

The major concern for small PoW based cryptocurrencies recently has become the availability of sheer amount of hashrate that is not their native but is available for rent. This results in a series of attacks on coins utilizing rented hashrate. There is even the website crypto51.app which collects the theoretical cost of a 51% attack on various networks. The security of PoW is based on the assumption that it is unfeasible to achieve the prevail in a hash rate for a single entity and even if such entity will possess that hashrate it will be economically motivated not to attack network due to its investments in mining infrastructure, which is no longer true.
Scott Roberts (aka Zawy) describes PoW as “one of the weak forms of PoS” [1] stating that “The only thing protecting PoW is the stake of the equipment infrastructure... All the small coins switching to PoW algorithms that can't be easily rented is an attempt to make miners hold an equipment stake." [1] “This shows that work in PoW is not equal to security, and secure part of PoW is PoS. If BTC hashrate were rentable (no mining stakeholders) BTC double spends would be easy enough to make it worthless”. [1] He continues, “In Monero's case, PoW change was not to reduce NiceHash renting (the reason small coins change PoW) but to reduce the effects of ASICs that were in a few hands. So the key idea in both renting and concentrated ASIC problems, is that PoW works by having distributed equipment owners (stakes). It has nothing to do with work (waste). Value is created by work (waste) in BTC, which can be done in PoS. But securing established value is accomplished by risk of value, not waste. When buying equipment, you are locking up a stake just like PoS systems require. In all reasonable ways, PoW is just a weak and inefficient PoS in disguise”. [1]
From the other hand, in the article “Work is Timeless, Stake is Not” Hugo Nguyen describes the key weakness of PoS and comes to the opposite conclusion. He cites Paul Sztorc as “correctly concluded that PoS is an obfuscated form of PoW” [2] and states that “Proof-of-Stake is a misnomer. The correct, fully descriptive name for Proof-of-Stake should be Proof-of-Temporary-Stake (PoTS). This name is more accurate because it captures the time element, or lack thereof, of PoS.” [2] “The ongoing energy expenditure in PoW contributes to network security in 2 ways:” “Units of work expended in the past accumulate in the ledger. Units of work expended in the future accumulate in the current mining hardware.” [2] He calls this “sort of time-based accumulation phenomenon” as stock & flow. “Bitcoin is essentially protected by high stock-to-flow ratios in 2 areas: the ledger, and the mining hardware”. [2] “In contrast, PoS has no equivalent of this. Past stakes … do not accumulate in the ledger, as stake is released after some arbitrary bonding period. Long-range attack is the manifestation of this weakness: it works because of PoS’s inability to secure the past. Long range attack is at the heart of the problems with PoS, because it shows that in the long run PoS fails to guarantee the integrity of the ledger — the most important asset of all this innovation." [2] “Future stakes ... also do not accumulate in the validators in the present time, as again the act of staking only has meaning within the short window that it occurs — what happens in the future does not count today. Current-private-keys-theft is the manifestation of this weakness: it works because of PoS’s inability to secure the future. Keys theft sidesteps altogether the financial cost supposedly required to acquire controlling stake — whereas in PoW there’s no sidestepping the fact that an attacker needs to overcome the mining hardware and ongoing energy costs to pull off and sustain a majority attack.” [2] “In summary: the further one moves away from the present time in PoS, the faster stake loses its meaning, until stake becomes meaningless. Work is robust against the ravages of time. Stake is not. The fact that the cost of PoW mining is irretrievably sunk and accumulates both in the ledger and the mining hardware, is an important feature, not a bug. PoS research is often based on the fundamental misconception that this is a bug and a source of inefficiency”. [2]
Thus we identified a problem in current state of PoW — the lack of security ensured by stake in equipment. The brilliant solution to the equipment stake deprivation in PoW is proposed by Qi Zhou — to combine PoW and PoS in “Proof of Staked Work ” (PoSW) — a simple hybrid PoW/PoS. “The basic idea is that, if a miner wants to contribute its all hash power to the network (suppose p percent of all hash power of the network), the miner must stake the number of tokens that is proportional to p.” [3] So we came to obvious, naive and simple solving: add to PoW, what has become missing — a stake.
We propose similar yet different approach without multiplying work by stake as we have concerns that this might be an attack vector and could cause frequent reorganisations and higher orphan rate. Besides, the algorithm can estimate hash power of the whole network via difficulty whereas it is hard to estimate hashrate of individual miner to adjust his stake requirements. So we set the same minimum required stake for all miners based on difficulty.
In order to mine a block the miner must stake the number of coins that is not less than the current minimum amount which is determined by the difficulty. The preliminary proposal is that the minimum stake in atomic units should be equal to the next difficulty multiplied by factor m. This factor should be defined economically from the current network state and conditions. For start let m = 100000.
A miner forms the coinbase transaction as follows: he sends to himself the amount not less than the required minimum and adds fees and block reward. This is enough to prove and verify his collateral stake in a simple way.
There is mined money unlock window n, a rule which locks all outputs in coinbase transaction for n blocks. This means that coins from coinbase transaction can be spent only after n blocks. Therefore, to be able to mine blocks successively, miner will have to possess much more money than minimum stake amount for one block,— he will need a stake for each block until his stake for a first mined block is unlocked. This will substantially and even exponentially increase the cost of 51% attack, the cost of being large miner or running a mining pool since the miner or the owner of the pool will have to acquire sufficient stake.
Coin transferred in a coinbase transaction proves possession without revealing sender and recipient. This keeps the stake and reward wallets separate. There will be the possibility to lend stake by preparing a template stake transaction in which lender sends coins to himself, reward to miner, and part of the reward to himself as a commission for lending, and issues this raw transaction to the miner. The miner can check if he received sufficient reward and use the transaction in the block template.
Instead of daemon the coinbase transaction with stake should be created in wallet on request from the daemon or mining software. Staking wallet should be running in RPC mode and listen to the special corresponding command.
Check for inputs/outputs should be revised to take into account new coinbase transaction type.
This approach evokes concerns of amplifying the centralization of mining in the hands of those who possesses enough stake for large hash rate eliminating small miners and pools.
References:
[1] https://twitter.com/zawy3/status/1082199522812612608
[2] https://medium.com/@hugonguyen/work-is-timeless-stake-is-not-554c4450ce18
[3] https://medium.com/quarkchain-official/proof-of-staked-work-ef36f9499279
submitted by hyarmaite to krb [link] [comments]

Profit Trailer : A Newbie Guide to Setting up your first Crypto Trading Bot!

Hello Everyone! Unless you’ve been living under a rock, you’ve likely heard all about BitCoin, LiteCoin, Ethereum and a whole host cryptocurrencies. As cryptomining profitability fades underneath increasing difficulties and the rising cost of mining machines, the world is dazzled by the utterly insane profit margins to be made in TRADING cryptocurrencies. This typically leads the average Joe to look into and, likely, invest some money into the cryptocurrency market. And, as time progresses (especially if profits are being made), one inevitably must make a choice to use a trading bot or not.
Now, I’m not trying to sell you one way or the other. My goal here is to take one of the newest and seemingly most profitable of the numerous trading bots out there, Profit Trailer, and break down getting the bot installed and running. There are numerous guides to Profit Trailer Installation and all of them are good. Crypto Gnome has some excellent information at https://github.com/CryptoGnome/Profit-Trailer-Settings/wiki/Setup-Guide. I’m not trying to knock him or anyone else with a guide out there. BUT………….
There are a few things that, in the course of installing this bot for a family member who has gotten on the crypto wagon in a big way, I noticed were lacking in the main set of guides. This being that not one of them had been designed with the true noob in mind. Each assumed a level of knowledge and discourse that can ( and would) leave a newbie cursing the fact they just spent .03 of a Bitcoin on something that refuses to even start.
Anyway, the point is, if you don’t have a tech savvy person handy, you could be left with, at best, the program downloaded but unable to start it or at worst, out a nice chunk of your crypto because of failing to understand EXACTLY what is needed to make the bot operate. Any suggestions on how to make this guide more complete, such as adding specific exchange instructions would be most appreciated.
Have an account at either Bittrex, Poloniex or Binance ACTIVE! I have read horror stories regarding buying this bot and installing it without having your account open and logged into. Just in case there is truth to them, better to be safe than sorry. Open your account of choice ( we used Binance so that is the exchange that this guide refers to. ) Use the account interface to create TWO(2) sets of API keys. One will be public, one will be secret in each set. You will notice that, at least on Binance, that each set of keys will have 2 permissions checked and one, withdrawals, unchecked. This is as it should be. If for some reason the withdrawals permission is checked, delete the key and start over. I would suggest that, for ease of use sake, you label each of the sets of keys. The first should be labeled (yourexchange)Default and the second should be labeled(yourexchange)Trading. This will help you recognize which keys are which later in the setup process. Copy these into a Notepad file, Word file, write them on your bedroom walls in blood, just keep BOTH SETS OF THESE API KEYS SAFE! Anyone with these keys has access to your exchange account. The first key will be initially used when you buy the Profit Trailer bot. The others will be used when you set up Profit Trailer. Ensure that you have JAVA 8 installed and running on your computer. It is extremely important that it be JAVA 8 and not 9. Profit Trailer WILL NOT WORK WITH THE JAVA 9 JRE. This problem was likely the biggest hurdle with Profit Trailer until I realized what was happening. Download and install Notepad++. Very Important. Some guides make it sound like you can do the settings changes on a regular NotePad file. This may be true, but Notepad++ is an actual IDE (software writing program for the uninitiated) that will give you the same view that all the guys in their YouTube Videos have up when they discuss their settings. Just saying guys, you’ve got people who, while they might know how to trade, might not know squat about IDE’s and their function. Buy the bot. This can be accomplished at https://profittrailer.com/pt/CryptoGnome/ At check out, you will be asked for the FIRST of the API keys you created. This will be the, first PUBLIC key you created. Pay for the bot. Wait for BitCoin to go from wallet to Profit Trailer creators. Have a beer….Smoke a cigarette….watch a movie. Seriously, you’re gonna be waiting awhile. One good idea while you spend hours waiting for the license key to be sent to you is to ensure that, if you have a newly created exchange account, you should place some cryptocurrency/money in the account…otherwise you’ve got another wait. Most guides say to next get a VPS(Virtual Private Server or Cloud Server). I was unable to get a VPS enabled at the time of this installation, so I will be posting another article regarding that process as soon as I can get it up and running on this installation. UPDATE We now have a Windows VPS running. You can visit Profit Trailer And You: A Newbie Guide To Setting Up Profit Trailer Part 2: Windows VPS here. Get Profit trailer Up and Running!!!! Here’s what you’ve been waiting for and trust me, all the other “prep stuff” will make this part a whole lot smoother. First, go to https://github.com/taniman/profit-trailereleases download the latest version of Profit Trailer. Next, unzip the files and navigate to the new folder. Open the file named application.properties with Notepad++ and then stare at it. I mean… really stare at it. Scary huh? Looks like you’re about to start coding the next Destiny game doesn’t it? Relax. this is a simple IDE that is giving you a series of settings that have to be adjusted manually instead of using a graphics user interface like the ones we’ve all grown to know and love. What you really need to know is what you are looking at. You’re going to see things like “trading.exchange” and “default_apiKey”. Each of these lines will have an equals sign on the end of them. Concentrate on what’s on the right side of the equals sign, cause that’s where your info is going to go. Remember those API keys you made? Well, here’s where they go.
Update these settings:
trading.exchange = THE EXCHANGE YOU ARE USING e.g. BITTREX (This MUST BE IN ALL CAPS. using lower case letter will give you an error code on startup)
default_apiKey = THE FIRST API KEY YOU CREATED (The key you labeled (yourexchange)Default )
default_apiSecret = THE FIRST SECRET KEY YOU CREATED
trading_apiKey = THE SECOND API KEY YOU CREATED (The key you labeled (yourexchange)Trading )
trading_apiSecret = THE SECOND SECRET KEY YOU CREATED
server.password = PASSWORD HERE (This is a password you create here. it is not tied to any other account)
Click save
You with me so far? Keep in mind that, so far the bot IS NOT RUNNING. we haven’t turned on anything yet, so don’t worry.
Most of the other guides say to start the bot up at this point and I would tend to agree, except you may want to look at the default settings in the pairs and DCA files to ensure that they are set the way you want them. DCA settings are a huge factor in Profit Trailer and I would suggest watching several videos regarding them. I do not claim to be a crypto expert and do not pretend to understand all the terms. The Profit Trailer Wiki at https://wiki.profittrailer.io/doku.php/dca.properties has in depth articles dealing with each of the settings and I suggest getting very familiar with them and understanding exactly what each does before turning the bot on.
Ok, with that being said, if you feel like your settings are just the way you want them, open up the pairs.properties file in Notepad++ and change “ALL_trading_enabled=false” to “ALL_trading_enabled=true” and save the file. Next you will want to click ‘run’ on the ProfitTrailer.cmd file. This will actually start the bot and will open an old style black Windows command line window. Ignore this as it is just the bot starting up, not where you will see what the bot is doing and open your web browser and enter http://localhost:8081/monitoring in the URL field. This will bring up a login page. Use the Password you created in the application.properties file here. This opens the web monitoring dashboard for your bot.
Again, I cannot stress enough the importance of following each step and understanding what each of the settings in Profit Trailer are and what they do. There are several important safety valves in Profit Trailer to keep the bot from chewing through your crypto like cookie monster on a 3 day bender.
One is “ALL_max_cost = x.xxxxx” in pairs.properties. This sets the amount of coin, in BitCoin, that the bot will use for trading. Just because you have have 1.5 BTC in your exchange account doesn’t mean you’ve gotta let the bot play with it all. “ALL_min_buy_balance = x.xx” in the pairs.propertiesfile will accomplish the same thing, just specifying an amount in the account that the bot will not take the account below. There are several important safety triggers in the DCA files as well, one being “min_buy_balance = x.xx” which will keep a specified minimum of BTC in your account, below which NO DCA buys will occur. This is an important distinction from the “ALL_min_buy_balance = x.xx” found in the pairs.properties files; DCA buys will STILL OCCUR even if the account is at or below the minimum specified in the pairs.properties file. Confused yet? It makes sense really, but if you’re like me, DCA really doesn’t mean anything to you. ( It’s Dollar Cost Averaging and it’s a profit mechanism used by Profit Trailer) What it really means is that, if you don’t know or understand what you are doing, it can cause big problems trading. Use your safety triggers and brush up on your trading terms cause soon you’ll be hip deep in EMAGains and Dust Bags…..whatever that means.
Any info on other exchange procedures with reagrds to setting up Profit Trailer would be greatly appreciated. I am not affiliated with or paid by any exchange, developer or site.
Credit & Thanks for this guide by: https://steemit.com/@demonsthenes
submitted by treasuregnome to CryptoCurrency [link] [comments]

QuarkChain Testnet 2.0 Mining.

QuarkChain Testnet 1.0 was built based on standardized blockchain system requirements, which included network, wallet, browser, and virtual machine functionalities. Other than the fact that the token was a test currency, the environment was completely compatible with the main network. By enhancing the communication efficiency and security of the network, Testnet 2.0 further improves the openness of the network. In addition, Testnet 2.0 will allow community members (other than citizens or residents of the United States) to contribute directly to the network, i.e. running a full node and mining, and receive testnet tokens as rewards.
QuarkChain Testnet 2.0 will support multiple mining algorithms, including two typical algorithms: Ethash and Double SHA256, as well as QuarkChain’s unique algorithm called Qkchash – a customized ASIC-resistant, CPU mining algorithm, exclusively developed by QuarkChain. Mining is available both on the root chain and on shards due to QuarkChain’s two-layered blockchain structure. Miners can flexibly choose to mine on the root chain with higher computing power requirements or on shards based on their own computing power levels. Our Goal By allowing community members to participate in mining on Testnet 2.0, our goal is to enhance QuarkChain’s community consensus, encourage community members to participate in testing and building the QuarkChain network, and gain first-hand experience of QuarkChain’s high flexibility and usability. During this time, we hope that the community can develop a better understanding about our mining algorithms, sharding technologies, and governance structures, etc. Furthermore, this will be a more thorough challenge to QuarkChain’s design before the launch of mainnet! Thus, we sincerely invite you to join the Testnet 2.0 mining event and build QuarkChain’s infrastructure together!
Today, we’re pleased to announce that we are officially providing the CPU mining demo to the public (other than citizens and residents of the United States)! Everyone can participate in our mining event, and earn tQKC, which can be exchanged to real rewards by non-U.S. persons after the launch of our mainnet. Also, we expect to upgrade our testnet over time, and expect to allow GPU mining for Ethash, and ASIC mining for Double SHA256 in the future. In addition, in the near future, a mining pool that is compatible with all mining algorithms of QuarkChain is also expected to be supported.
We hope all the community members can join in with us, and work together to complete this milestone! 2 Introduction to Mining Algorithms 2.1 What is mining? Mining is the process of generating the new blocks, in which the records of current transactions are added to the record of past transactions. Miners use software that contribute their mining power to participate in the maintenance of a blockchain. In return, they obtain a certain amount of QKC per block, which is called coinbase reward. Like many other blockchain technologies, QuarkChain adopts the most widely used Proof of Work (PoW) consensus algorithm to secure the network.
A cryptographically-secure PoW is a costly and time-consuming process which is difficult to solve due to computation-intensity or memory intensity but easy for others to verify. For a block to be valid it must satisfy certain requirements and hash to a value less than the current target threshold. Reverting a block requires recreating all successor blocks and redoing the work they contain, which is costly.
By running a cluster, everyone can become a miner and participate in the mining process. The mining rewards are proportional to the number of blocks mined by each individual.
2.2 Introduction to QuarkChain Algorithms and Mining setup According to QuarkChain’s two-layered blockchain structure and Boson consensus, different shards can apply different consensus and mining algorithms. As part of the Boson consensus, each shard can adjust the difficulty dynamically to increase or decrease the hash power of each shard chain.
In order to fully test QuarkChain testnet 2.0, we adopt three different types of mining algorithms” Ethash, Double SHA256, and Qkchash, which is ASIC resistant and exclusively developed by QuarkChain founder Qi Zhou. These first two hash algorithms correspond to the mining algorithms dominantly conducted on the graphics processing unit (GPU) and application-specific integrated circuits (ASIC), respectively.
I. Ethash Ethash is the PoW mining algorithm for Ethereum. It is the latest version of earlier Dagger-Hashimoto. Ethash is memory intensive, which makes it require large amounts of memory space in the process of mining. The efficiency of mining is basically independent of the CPU, but directly related to memory size and bandwidth. Therefore, by design, building Ethash ASIC is relatively difficult. Currently, the Ethash mining is dominantly conducted on the GPU machines. Read more about Ethash: https://github.com/ethereum/wiki/wiki/Ethash
II. Double SHA256 Double SHA256 is the PoW mining algorithms for Bitcoin. It is computational intensive hash algorithm, which uses two SHA256 iterations for the block header. If the hash result is less than the specific target, the mining is successful. ASIC machine has been developed by Bitmain to find more hashes with less electrical power usage. Read more about Double SHA256: https://en.bitcoin.it/wiki/Block_hashing_algorithm
III. Qkchash Originally, Bitcoin mining was conducted on the CPU of individual computers, with more cores and greater speed resulting in more profitability. After that, the mining process became dominated by GPU machines, then field-programmable gate arrays (FPGA) and finally ASIC, in a race to achieve more hash rates with less electrical power usage. Due to this arms race, it has become increasingly harder for prospective new miners to join. This raises centralization concerns because the manufacturers of the high-performance ASIC are concentrated in a small few.
To solve this, after extensive research and development, QuarkChain founder Dr. Qi Zhou has developed mining algorithm — Qkchash, that is expected to be ASIC-resistant. The idea is motivated by the famous date structure orders-statistic tree. Based on this data structure, Qkchash requires to perform multiple search, insert, and delete operations in the tree, which tries to break the ASIC pipeline and makes the code execution path to be data-dependent and unpredictable besides random memory-access patterns. Thus, the mining efficiency is closely related to the CPU, which ensures the security of Boston consensus and encourges the mining decentralization.
Please refer to Dr. Qi’s paper for more details: https://medium.com/quarkchain-official/order-statistics-based-hash-algorithm-e40f108563c4
2.3 Testnet 2.0 mining configuration Numbers of Shards: 8 Cluster: According to the real-time online mining node The corresponding mining algorithm is Read more about Ethash with Guardian: https://github.com/QuarkChain/pyquarkchain/wiki/Ethash-with-Guardian)
We will provide cluster software and the demo implementation of CPU mining to the public. Miners are able to arbitrarily select one shard or multiple shards to mine according to the mining difficulty and rewards of different shards. GPU / ASIC mining is allowed if the public manages to get it working with the current testnet. With the upgrade of our testnet, we will further provide the corresponding GPU / ASIC software.
QuarkChain’s two-layered blockchain structure, new P2P mode, and Boson consensus algorithm are expected tobe fully tested and verified in the QuarkChain testnet 2.0. 3 Mining Guidance In order to encourage all community members to participate in QuarkChain Testnet 2.0 mining event, we have prepared three mining guidances for community members of different backgrounds.
Today we are releasing the Docker Mining Tutorial first. This tutorial provides a command line configuration guide for developers and a docker image for multiple platforms, including a concise introduction of nodes and mining settings. Follow the instructions here: Quick Start with QuarkChain Mining.
Next we will continue to release: A tutorial for community members who don’t have programming background. In this tutorial, we will teach how to create private QuarkChain nodes using AWS, and how to mine QKC step by step. This tutorial is expected to be released in the next few days. Programs and APIs integrated with GPU / ASIC mining. This is expected to allow existing miners to switch to QKC mining more seamlessly. Frequently Asked Questions: 1. Can I use my laptop or personal computer to mine? Yes, we will provide cluster software and the demo implementation of CPU mining to the public. Miners will be able to arbitrarily select one shard or multiple shards to mine according to the work difficulty and rewards of different shards. 2. What is the minimum requirements for my laptop or personal computer to mine? Please prepare a Linux or MacOs machine with public IP address or port forwarding set up. 3. Can I mine with my GPU or an ASIC machine? For now, we will only be providing the demo implementation of CPU mining as our first step. Interested miners/developers can rewrite the corresponding GPU / ASIC mining program, according to the JSON RPC API we provided. With the upgrade of our testnet, we expect to provide the corresponding GPU / ASIC interface at a later date. 4. What is the difference among the different mining algorithms? Which one should I choose? Double SHA256 is a computational intensive algorithm, but Ethash and Qkchash are memory intensive algorithms, which have certain requirements on the computer’s memory. Since currently we only support CPU mining, the mining efficiency entirely depends on the cores and speed of CPU. 5. For testnet mining, what else should I know? First, the mining process will occupy a computer’s memory. Thus, it is recommended to use an idle computer for mining. In Testnet 2.0 settings, the target block time of root chain is 60 seconds, and the target block time of shard chain is 10 seconds. The mining is a completely random process, which will take some time and consume a certain amount of electricity. 6. What are the risks of testnet mining? Currently our testnet is still under the development stage and may not be 100% stable. Thus, there would be some risks for QuarkChain main chain forks in testnet, software upgrades and system reboots. These may cause your tQKC or block record to be lost despite our best efforts to ensure the stability and security of the testnet.
For more technical questions, welcome to join our developer community on Discard: https://discord.me/quarkchain. 4 Reward Mechanism Testnet 2.0 and all rewards described herein, including mining, are not being offered and will not be available to any citizens or residents of the United States and certain other jurisdictions. All rewards will only be payable following the mainnet launch of QuarkChain. In order to claim or receive any of the following rewards after mainnet launch, you will be required to provide certain identifying documentation and information about yourself. Failure to provide such information or demonstrate compliance with the restrictions herein may result in forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other sanctions.
NO U.S. PERSONS MAY PARTICIPATE IN TESTNET 2.0 AND QUARKCHAIN WILL STRICTLY ENFORCE THIS VIA OUR KYC PROCEDURES. IF YOU ARE A CITIZEN OR RESIDENT OF THE UNITED STATES, DO NOT PARTICIPATE IN TESTNET 2.0. YOU WILL NOT RECEIVE ANY REWARDS FOR YOUR PARTICIPATION.
4.1 Mining Rewards
  1. Prize Pool A total of 5 million QKC prize pool have been reserved to motivate all miners to participate in the testnet 2.0 mining event. According to the different mining algorithms, the prize pool is allocated as follows:
Total Prize Pool: 5,000,000 QKC Prize Pool for Ethash Algorithm: 2,000,000 QKC Prize Pool for Double SHA256 Algorithm: 1,000,000 QKC Prize Pool for Qkchash Algorithm: 2,000,000 QKC
The number of QKC each miner is eligible to receive upon mainnet launch will be calculated on a pro rata basis for each mining algorithm set forth above, based on the ratio of sharded block mined by each miner to the total number of sharded block mined by all miners employing such mining algorithm in Testnet 2.0.
  1. Early-bird Rewards To encourage more people to participate early, we will provide early bird rewards. Miners who participate in the first month (December 2018, PST) will enjoy double points. This additional point reward will be ended on December 31, 2018, 11:59pm (PST).
4.2 Bonus for Bug Submission: If you find any bugs for QuarkChain testnet, please feel free to create an issue on our Github page: https://github.com/QuarkChain/pyquarkchain/issues, or send us an email to [email protected]. We may provide related rewards based on the importance and difficulty of the bugs.
4.3 Reward Rules: QuarkChain reserves the right to review the qualifications of the participants in this event. If any cheating behaviors were to be found, the participant will be immediately disqualified from any rewards. QuarkChain further reserves the right to update the rules of the event, to stop the event/network, or to restart the event/network in its sole discretion, including the right to interpret any rules, terms or conditions. For the latest information, please visit our official website or follow us on Telegram/Twitter. About QuarkChain QuarkChain is a flexible, scalable, and user-oriented blockchain infrastructure by applying blockchain sharding technology. It is one of the first public chains that successfully implemented state sharding technology for blockchain in the world. QuarkChain aims to deliver 100,000+ on-chain TPS. Currently, 14,000+ peak TPS has already been achieved by an early stage testnet. QuarkChain already has over 50 partners in its ecosystem. With flexibility, scalability, and usability, QuarkChain is enabling EVERYONE to enjoy blockchain technology at ANYTIME and ANYWHERE.
Testnet 2.0 and all rewards described herein are not being and will not be offered in the United States or to any U.S. persons (as defined in Regulation S promulgated under the U.S. Securities Act of 1933, as amended) or any citizens or residents of countries subject to sanctions including the Balkans, Belarus, Burma, Cote D’Ivoire, Cuba, Democratic Republic of Congo, Iran, Iraq, Liberia, North Korea, Sudan, Syria, Zimbabwe, Central African Republic, Crimea, Lebanon, Libya, Somalia, South Suda, Venezuela and Yemen. QuarkChain reserves the right to terminate, suspend or prohibit participation of any user in Testnet 2.0 at any time.
In order to claim or receive any rewards, including mining rewards, you will be required to provide certain identifying documentation and information. Failure to provide such information or demonstrate compliance with the restrictions herein may result in termination of your participation, forfeiture of all rewards, prohibition from participating in future QuarkChain programs, and other actions.
This announcement is provided for informational purposes only and does not guarantee anyone a right to participate in or receive any rewards in connection with Testnet 2.0.
Note: The use of Testnet 2.0 is subject to our terms and conditions available at: https://quarkchain.io/testnet-2-0-terms-and-conditions/
more about qurakchain: Website: https://quarkchain.io/cn/ Facebook: https://www.facebook.com/quarkchainofficial/ Twitter: https://twitter.com/Quark_Chain Telegram: https://t.me/quarkchainio
submitted by Rahadsr to u/Rahadsr [link] [comments]

MIB ICO

MIB ICO
https://preview.redd.it/xxut9c8dbgg11.png?width=718&format=png&auto=webp&s=8ef2c65800f2488b8633aa404a420fa0e47ee9c3
Greetings to you, dear readers. I am always glad to share with you the most promising ideas and start-ups from the world of crypto-currencies. They are created in order to facilitate our life with you, and to change the world in the future.
The increase in crypto-currencies and subsequent attention, attracted by blockchain technology, prompted almost every industry to assess the benefits of integrating technology in their operations. One of these start-ups at the forefront of innovation in the blockbuster is MIB Coin.
The Blockchain is a rapidly growing technology that covers all possible business areas. Therefore, many published reports predict a huge increase in the market Blockchain. According to reports, the Blockchain market is expected to expand to 20 billion dollars by 2024. It is considered one of the most promising new technologies that are hoping to change the future of business and the Internet.
In this era of technological progress of the detainees, many crypto-conversions for transactions inside the ecosystem were developed, and many people earn money in real time. Perhaps you can invest in any of these crypto conversions.
You can reflect on the crypt coin, which will be best for your investment. Perhaps you even found yourself investing in one of these cryptos, but you did not make a profit as you expected, because some developers, after hitting their goal and getting a huge amount of money, abandoned the project and left investors.
MIB Coin is a new platform Smartch blockchain, which gives everyone the opportunity to participate in the development of applications using smartphones. In addition, to make it easier for people to communicate with businesses much easier. MIB focused on the fundamental decision to maintain a flexible and sustainable chain with continuity in the long term, expand functions such as a reliable platform, and distribute and support low-cost nodes.
Thanks to the "Smart Mining", it reduces energy consumption by about 15,000% compared to the existing method, significantly reducing energy consumption, which is an important problem in the mining industry. Thus, this reduces the costs of maintaining the block chain and social costs.
In the decoding, MIB stands for Mobile Integrated Blockchain, that is, the mobile integrated unit.
The platform will consist of three main elements:
Crypto currency MIB.
Block block platform SmartX.
Blockbusiness platform for business.
The developers argue that the MIB coins differ from all other crypto currencies, since they do not require large costs for mining and can function in a mobile block system ecosystem. The tokens will be extracted using smartphones, so the network will become truly decentralized. Mining resources will not be concentrated in any country or in any enterprise, on the contrary, they will be distributed around the globe.
https://preview.redd.it/o4hkaze6cgg11.png?width=844&format=png&auto=webp&s=be23f8f474853fd5917ff5d24cacf9b3849ff0e1
The structure of MIB Coin consists of the following elements:
Decentralized application Donacle (international charity lottery).
MIB block browser.
Mobile crypto-currency purse.
Mining application for iOS and Android.
Web wallet MIB.
Center for the development of the program interface.
"The goal" - to expand the capabilities of various enterprises using the Smartch Blockchain platform, created for mobile devices.
Together with the optimization of decentralized technology, MIB will be at the center of communicating with meaningful enterprises in the real world, creating a new world of possibilities.
MIB SmartX Blockchain Platform:
This is not a specialized mining machine (ASIC or GPU). It works on a smartphone. The extraction, which was exclusive only for certain countries and companies, is now available to all.
Everyone can participate. Eco-friendly, low-power method of energy use, based on energy, solves excessive problems with energy consumption. Keep it at minimal cost, not existing networks with a high cost of locking.
In addition, many tokens will be created on the MIM platform of the Smartch Blockchain platform.
How it works
How do you use crypto currency on smartphones without special expensive equipment? The MIB can not use existing ASIC and GPU methods. It is only available on smartphones.
Monitor your smartphone and distribute the hash-speed. MIB is designed so that your smartphone can withstand the computational complexity necessary to develop and protect your smartphone from overheating and damage to equipment.
This is possible with one smartphone.
The reduction in power is 99.24% compared to existing mining machines.
Anyone can use my smartphone.
https://preview.redd.it/zya00p7fcgg11.png?width=642&format=png&auto=webp&s=84bb4a3933b426065812410396b889d97266ac13
Mobile MIB crypto-exchange ecosystem can be offered for many crypto-conversions that lost their original functions due to technical difficulties associated with extraction and block chain, which allows them to smoothly and continuously improve.
MIB coins use a mobile platform that requires only the minimum amount of energy consumed in everyday life. This is due to the fact that MIB coins require only the power of mobile processors compared to the huge amount used by BITCOIN.
The Smartch Blockchain platform is expected to become a globalized crypto currency, which significantly reduces the cost of maintenance of the blockages, using an easy hashing algorithm based on mobile devices, designed for convenience, economy and popularity. This will not be simply a change in the platform, but a change in the ecosystem of the crypto currency.
TOKEN AND DETAILS ICO
Signs of MIB were issued in the amount of 600 million. For sale, 300 million MIB are allocated. The preliminary sale has already been completed, and at the moment the project is at the stage of the crowd. Until August 10, investors have the opportunity to purchase a crypto currency at a price of 1200 MIB for 1 ETH, which is equivalent to buying 1 token for $ 0.5. The minimum purchase amount is 1 MIB. You can buy a crypto currency using BTC and ETH. The program plan of the project is $ 10 million, the hard drive is $ 25 million!
Tag name: MIB
Platform: SmartX Blockchain
Cost of the token: 1 ETH = 1200 MIB
Total delivery: 600 million MIB
Public ICO: July 20, 2018 ~ August 10, 2018
https://preview.redd.it/5hd4qwijcgg11.png?width=1097&format=png&auto=webp&s=bf15b5c13067950e5a4b35f9f5777142edd0125a
Team
https://preview.redd.it/qrasjdqlcgg11.png?width=991&format=png&auto=webp&s=735b267e092fa3408c33a713b1a77b2eeb63c3ae
Conclusion
Thus, the MIB Coin project has a specific and ambitious goal - to become the leader of the crypto industry, providing access to mining through smartphones without special and expensive equipment. This solution will undoubtedly make the industry more accessible.
submitted by Mugiwara_LUFFYkun to ico [link] [comments]

#mib

Blockchain technology is a transparent digital transaction book and records that are immune to modification or deletion. Offering additional features of increased security, cost reduction, time efficiency and error tolerance, the chain-chain grew, fluctuated in 2017. The utility of blockchain technology is unlimited, triggering an increase in the list of companies, industries and government studying its potential adoption. A block-chain is an immutable public book that records digital transactions. ABOUT MIB COIN MIB Coin is a new SmartX blockchain platform that gives everybody the ability to get involved with mining through smartphones. Also, to make it easy for people to connect with businesses in a much easier way. MIB has focused on the fundamental solution of maintaining an agile and sustained blockchain network with continuity in the long term, to expand features like a robust platform, and to distribute and maintain nodes with a low cost. With ‘Smart Mining’, it reduces the power consumption by about 15,000% compared to the existing method by significantly lowering the high power consumption, which is a critical issue in mining. Therefore, it reduces the cost of maintaining the blockchain and the social cost. Through this, it aims at decentralizing the mining by enabling areas where power generation is not enough such as Central Asia, Africa, South America, and Southeast Asia to participate in mining. MIB Coin will grow into a real cryptocurrency used by people around the world as the means of exchange, payment, saving, value evaluation function and communication of hard currency. SmartX BLOCKCHAIN PLATFORM SmartX will support creating and executing smart contracts, which in turn are changing the way agreements are made since you do not need an intermediary because the contracts themselves follow specific rules and are automatically executed on their own terms. This allows for a multitude of applications such as insurance contracts, distribution of profits and endless possibilities. More significant opportunities to participate in mining are given to more countries and people by using smartphones which are already available all over the world in billions. The problem of polarization characterized by the concentration on specialized mining firms or specific nations can be resolved by distributed mining. Mining today is becoming monopolized by large miners with infrastructure and funding and countries with a seamless power supply are becoming the major markets. Cutting back high cost of ASIC and GPU mining methods into a more economical mobile-based method, the power consumption rate is markedly decreased resulting in the most effective P2P network with a minimum cost. MIB mobile cryptocurrency ecosystem can be proposed to many cryptocurrencies that have lost their original functions due to mining and blockchain-based technical difficulties, enabling them to improve smoothly and continuously. MIB coins use a mobile-based platform, which requires only the minimum amount of power consumed in everyday life. This is because MIB coins only need the power by mobile CPUs compared to the vast amount used by BITCOIN. The SmartX blockchain platform is expected to become a globalized cryptocurrency that reduces blockchain's maintenance cost remarkably by applying a lightweight mobile-based hash algorithm aiming for convenience, economy and popularity. This will not be a simple platform change but a change of the cryptocurrency ecosystem. MIB SmartX Blockchain Platform Structure: It is not a dedicated mining machine (ASIC or GPU). It is mining on the smartphone. Mining that was exclusive to only certain countries and companies are now available to all. Everyone can participate. An eco-friendly, low-power energy-based mining method solves excessive power consumption issues. Keep it at a minimal cost instead of existing high cost blockchain networks. In addition, a variety of tokens will be created on the SmartX Blockchain Platform MIB platform. HOW MIB COIN IS MINED The MIB Coin (www.mibcoin.io) is designed to be mined specifically on mobile devices and can not be mined by powerful mining machines. Mining MIB Coin requires 99.24% less processing power compared to traditional miners, requires very little electricity and the total cost of the process is reduced in a way never seen before. This is simply fantastic because it goes beyond cost reduction by being totally eco-friendly and sustainable. Mining will be accessible to everyone from anywhere with an internet connection from smartphones. Just download the app from the app store, register and start mining. It’s fast, no need to know programming or handle complicated settings that even a 5-year-old could do. The process is completely safe and involves no risk of damage to devices. Anyone can mine with a smartphone. Benchmark your smartphone and allocate a hash rate. MIB is designed so that your smartphone is able to withstand the computational complexity required for mining and protect your smartphone from overheating and damaging the hardware. It`s possible with one smartphone.Reduced power by 99.24% compared to existing mining machines.
TOKEN AND ICO DETAILS Token name: MIB Platform: SmartX Blockchain Token price: 1 ETH = 1200 MIB Total supply: 600,000,000 MIB Public ICO: Jul 20, 2018 ~ Aug 10, 2018 MIB ALLOCATION 50% of MIB Coin is allocated as Smart Mining and is available to anyone easily. 27.51% of MIB Coin is used for the maintenance and management of MIB’ network ecosystem. More specifically, 11.67% for Reserve and 15.84% for Extra Marketing. 22.49% of MIB Coin is distributed to MIB Pre-Sales, ICO, and the stakeholders. More specifically, 5.83% for Pre-Sales, 8.33% for ICO, 3.33% for the investors, 3.33% for the advisors, and 1.67% for the team are distributed USE OF PROCEEDS 35% will be kept in capital reserves 35% will be used for technology development of SmartX Blockchain, Smart Contract, DAPP, token platform, connected platform and security. 10% will be used for the operational cost of marketing, accounting, legal and regulatory purposes 10% will be used for MIB’s global marketing, social media and branding 10% will be used to establish strategic partners, offices, and business development around the world
Above you can see the roadmap — how the team sees their nearest and long-term future. TEAM MEMBERS AND ADVISORY MEMBERS TO THE PROJECT Team seems to be the strongest part of this project. It consists of innovative and talented people. Of course I cannot complain if we talk about their professional level, guys indeed are experts on their field. MIB will make everybody a miner as long as you make use of a smartphone , it reduces excessive power consumption by a greater percentage and also the high cost of mining equipment becomes a thing of the past. It has developed a low-power blockchain system that will help to achieve this purpose. The SmartX blockchain network can bring a significant reduction in the extremely high power consumption rate that often causes social problems, resulting in social cost savings needed to maintain the blockchain. Therefore, it would definately end up being a great success, so investors can also benefit from it.
submitted by jottu5 to u/jottu5 [link] [comments]

#mibcoin

Blockchain platform for business. The developers claim that the MIB coins are different from all other cryptocurrencies, as they do not require large mining costs and can function in the mobile blockchain ecosystem. Token mining will be carried out with the help of smartphones, so the network will become truly decentralized. Mining resources will not be concentrated in any country or enterprise, on the contrary, will be distributed across the globe. The structure of MIB Coin consists of the following elements:
Decentralized application Donacle (international charity lottery). MIB block Explorer. Mobile cryptocurrency wallet. Mining app for iOS and Android. MIB web wallet. Center for software interface development. The "goal" is to expand the capabilities of various enterprises with the help of Smartch Blockchain platform created for mobile devices.
Together with the optimization of decentralized technology, MIB will be at the center of communication with significant enterprises in the real world, creating a new world of opportunities. MIB SmartX Blockchain Platform:
It is not a specialized mining machine (ASIC or GPU). It works on a smartphone. Production, which was exclusive only to certain countries and companies, is now available to all.
Everyone can participate. Environmentally friendly, low energy method of energy use based on energy, solves the problem with excessive energy consumption. Store it with minimal cost, not existing networks with high cost of blocking.
In addition, a lot of tokens will be created on the MIB platform of the Smartch Blockchain platform.
How it works
How do you use cryptocurrency on smartphones without special expensive equipment? The MIB cannot use existing ASIC and GPU methods. It is only available on smartphones.
Control your smartphone and spread the hash rate. MIB is designed so that your smartphone can withstand the computational complexity required to design and protect your smartphone from overheating and hardware damage.
This is possible with one smartphone. Power reduction of 99.24% compared to existing mining machines. Anyone can use my smartphone.The mobile cryptocurrency ecosystem MIB can be offered for many cryptocurrencies that have lost their original functions due to technical difficulties associated with mining and block chain, allowing them to be smoothly and continuously improved.
MIB coins use a mobile platform that requires only a minimum amount of energy consumed in everyday life. This is because MIB coins only require the power of mobile processors compared to the huge amount used by BITCOIN.
The Smartch Blockchain platform is expected to become a globalized cryptocurrency that significantly reduces blockchain maintenance costs by employing a lightweight mobile-based hashing algorithm designed for convenience, economy and popularity. This will not be a simple platform change, but a change in the cryptocurrency ecosystem. THE TOKEN AND THE DETAILS OF THE ICO
MIB signs were issued in the amount of 600 million. For sale allocated 300 million MIB. The pre-sale has already been completed and the project is currently in the crowd stage. Until August 10, investors have the opportunity to purchase cryptocurrency at the price of 1200 MIB for 1 ETH, which is equivalent to buying 1 token for 0.5 dollar. The minimum purchase amount is 1 MIB. You can buy cryptocurrency with BTC and ETH. Software project plan is $ 10 million, hard disk - 25 million dollars!
Tag name: MIB Platform: SmartX Blockchain The cost of a token: 1 ETH = 1200 MIB The total delivery volume: 600 000 000 MIB Public ICO: July 20, 2018 ~ August 10, 2018
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Bitcoin Affiliate Network - Miner Configuration Bitcoin Mining Profits - YouTube DIE DIFFICULTY STEIGT  Genesis Mining  Bitcoin Mining #42  German Genesis Mining and big Bitcoin difficulty Update Bitcoin mining in South Africa BITCOIN $1,000,000 USD BIS 2020

Bitcoin mining can be extremely profitable – or extremely expensive. Today, many inexperienced people dive into bitcoin mining with little knowledge. These people can end up losing a significant amount of money – especially if they purchased dozens or hundreds of ASICs at $2,500 apiece. The most important aspect of bitcoin mining is the hardware. Your hardware determines whether or not you ... Bitcoin difficulty is not. That 80% ROI of Bitcoin ASIC mining will be 8% in the next 6 months. – Maciej Mączko May 10 '14 at 14:12. 1 @TimS, but surely there's a minimum amount of computational power you need before you can even "take part in the bitcoin mining lottery" right? – Pacerier May 22 '14 at 16:36. 1 @Pacerier There is a minimum. E.g. you can't do it with human calculations ... Btc super mining - Your account details page will is also no need to. How to earn Free Bitcoin in philippines 2018 Fast and Btc super mining wallets, if you have a wallet managed by another provider, then you can transfer Explore 2018 Highest Paying Bitcoin free bitcoin direct to faucethub your existing wallet after the coinbase wallet Wheel of Bitcoin. Bitcoin: mining difficulty increases. Prev Next. Bloomberg: the capitazliation of Tether could exceed Ethereum . ECB launches consultation on the digital euro. G7 stops Facebook Libra: regulation first. Record volumes for Tether on Tron. Prev Next. Trading. Cryptocurrency volumes on the rise. Bitcoin on the rise: value above 11,500 USD. Bitcoin up also thanks to Square. Bitcoin, volatility ... And it looks poised to continue to appreciate in value considering the increased hash rate difficulty as well as miners. Conclusion . Whatever the case, you can always get an estimate of the potential profit margins by using bitcoin profitability calculator tools like the one on Cryptocompare.com. Mining bitcoins can be profitable if you’re smart and strategic about it. We hope this guide ...

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Bitcoin Affiliate Network - Miner Configuration

IF you got any problem or face any difficulty i this tutorial, simply comment below and I will try my maximum to help you out. ... bitcoin mining hack bitcoin mining hack trick free bitcoin free ... 3% RABATT für ALLE deine Einkäufe mit dem Code: 3jBZqP Teste Genesis Mining jetzt - https://goo.gl/umoNjH -----... Heute geht's um folgende Themen: Bitcoin Futures auf Nasdaq in 2019, Bitcoin Mining zu 77 Prozent aus Ökostrom & Bitcoin Mining Difficulty fällt drastisch. xxx 1.) Bitcoin Future auf Nasdaq ... Bitcoin Cash, Alert: Mining Difficulty, Block Halving & Profitability vs. Bitcoin-BTC: https://steemit.com/@garypalmerjr We are living in very exciting times... Port 3334 for maximum 512 difficulty (for slow miners less then 750 GH/s) ... DIY Bitcoin Mining: Software (part 2) - Duration: 4:07. Fred Yen Recommended for you. 4:07 "Investing" in Bitcoin vs ...

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