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    Cryptocurrency Daily Discussion - January 1, 2020 (GMT+0)

    January 01, 2020

    Cryptocurrency Daily Discussion - January 1, 2020 (GMT+0)

    Daily Discussion - January 1, 2020 (GMT+0)

    Posted: 31 Dec 2019 04:12 PM PST

    Welcome to the Daily Discussion. Please read the disclaimer, guidelines, and rules before participating.

    Disclaimer:

    Though karma rules still apply, moderation is less stringent on this thread than on the rest of the sub. Therefore, consider all information posted here with several liberal heaps of salt, and always cross check any information you may read on this thread with known sources. Any trade information posted in this open thread may be highly misleading, and could be an attempt to manipulate new readers by known "pump and dump (PnD) groups" for their own profit. BEWARE of such practices and exercise utmost caution before acting on any trade tip mentioned here.

    Rules:

    • All sub rules apply in this thread. The prior exemption for karma and age requirements is no longer in effect.
    • Discussion topics must be related to cryptocurrency.
    • Comments will be sorted by newest first.

    To see prior Skeptics Discussions, click here.

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    r/CryptoCurrency top statistics for 2019 - (r/subreddit_stats)

    Posted: 31 Dec 2019 02:51 PM PST

    Google’s Censorship Of Cryptocurrencies Goes Way Beyond Youtube

    Posted: 31 Dec 2019 12:48 PM PST

    Year in review, year in preview David Sonstebo

    Posted: 01 Jan 2020 12:40 AM PST

    Virgil Griffith Released on $1 Million Bond as he Awaits Trial

    Posted: 31 Dec 2019 06:01 AM PST

    Bitcoin is trending in Twitter South Africa, what's going on?

    Posted: 01 Jan 2020 03:36 AM PST

    My cryptocurrency strategy for 2020

    Posted: 31 Dec 2019 05:52 PM PST

    Podcast interview with Kathleen Breitman, Co-Founder of Tezos, talking about the network's growth, the blockchain smart contracts opportunity and the differences between corporate and crypto network governance

    Posted: 01 Jan 2020 03:48 AM PST

    The 7 biggest ideas that will change crypto in 2020

    Posted: 01 Jan 2020 02:41 AM PST

    Monthly Skeptics Discussion - January 2020

    Posted: 31 Dec 2019 04:13 PM PST

    Welcome to the Monthly Skeptics Discussion thread. The goal of this thread is to promote critical discussion by challenging popular or conventional beliefs.

    This thread is scheduled to be reposted on the 1st of every month. Due to the 2 post sticky limit, this thread will not be permanently stickied like the Daily Discussion thread. It will often be taken down to make room for important announcements or news.

    Rules:

    • All sub rules apply here.
    • Discussion topics must be on topic, i.e. only related to skeptical or critical discussion about cryptocurrency. Markets or financial advice discussion, will most likely be removed and is better suited for the daily thread.
    • Promotional top-level comments will be removed. For example, giving the current composition of your portfolio or stating you sold X coin for Y coin(shilling), will promptly be removed.
    • Karma and age requirements are in full effect and may be increased if necessary.

    Guidelines:

    • Share any uncertainties, shortcomings, concerns, etc you have about crypto related projects.
    • Refer topics such as price, gossip, events, etc to the Daily Discussion.
    • Please report top-level promotional comments and/or shilling.

    Resources and Tools:

    • Read through the CryptoWikis Library for material to discuss and consider contributing to it if you're interested. r/CryptoWikis is the home subreddit for the CryptoWikis project. Its goal is to give an equal voice to supporting and opposing opinions on all crypto related projects. You can also try reading through the Critical Discussion search listing.
    • Consider changing your comment sorting around to find more critical discussion. Sorting by controversial might be a good choice.

    • Click the RES subscribe button below if you would like to be notified when comments are posted.

    To see prior Daily Discussions, click here.

    -

    Thank you in advance for your participation.

    submitted by /u/AutoModerator
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    2019 In Review: Major Blockchain/Crypto Security Incidents

    Posted: 31 Dec 2019 11:11 AM PST

    DLive, one of the larger video streaming platforms, Joins BitTorrent Ecosystem and Begins Migration to TRON Blockchain

    Posted: 31 Dec 2019 04:32 AM PST

    Ethereum Upgrade Muir Glacier - Exodus Wallet

    Posted: 31 Dec 2019 12:50 PM PST

    Don’t even try and rain on this parade been in the markets since 2006 and crypto since 2012, one of the best analysts in this world verified. Happy New Years! Lighting mortars! Be grateful for what you have cause tomorrow it could be gone forever. Life and death are inevitable! Wishing you all Peace

    Posted: 31 Dec 2019 11:49 PM PST

    Orchid OXT Staking / Bandwidth selling?

    Posted: 31 Dec 2019 10:59 AM PST

    Orchid is a new decentralized service that uses the OXT token to power a VPN service; one buys OXT (unfortunately at the moment only available from Coinbase), and uses that to buy bandwidth a la carte on the Orchid network.

    What I've gleaned from Coinbase earn is that on the network end, you need to stake Orchid in order to sell bandwidth, and that the more OXT you stake, the higher the network ranks you to sell bandwidth. Unfortunately I'm having a hard time finding any more documentation on selling bandwidth than that. Is there anyone with a firmer idea on how much OXT needs to be staked (e.g. at minimum) and what you'd need to run in order to sell bandwidth?

    submitted by /u/AnUnquietHistory
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    Worst Bitcoin Price Prediction of 2019

    Posted: 31 Dec 2019 06:09 PM PST

    There's No Logic Behind Most Crypto Economics

    Posted: 31 Dec 2019 08:04 AM PST

    the more I learn about cryptocurrencies, the more I can't understand their logic. Look at the biggest altcoin foundations. Ethereum foundation, litecoin foundation, IOTA foundation, and even a for-profit Ripple company. Like, literally, every single one of them has a very flawed business model. Their entire existence depends on dumping their own tokens. I mean, WTF. what makes them think this is a sustainable business model?

    Imagine if Microsoft's business model is just dumping MSFT stock, would they survive? Imagine if Apple's business model is not selling iphones but AAPL stock. That's how cryptocurrency companies work. Dumping their own tokens to the bagholders without any consistent source of income. WTF...

    Why can't they think of a better business model?

    submitted by /u/fabzo100
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    I already did the crypto thing on SOFI when I signed up, but I still see this offer; is it gonna work AGAIN?

    Posted: 31 Dec 2019 11:49 AM PST

    Mast and Schnorr Signatures - Omar Wagih

    Posted: 31 Dec 2019 04:13 AM PST

    Joining Ripple Community in 2020?? Hell NO!! ��

    Posted: 31 Dec 2019 06:10 PM PST

    Bitcoin (network) 2030

    Posted: 31 Dec 2019 07:21 AM PST

    No, the title is correct, while everyone is focusing on halving in 2020 let's take a look at 2030.

    I was reading 3 posts about Cardano network where they mention Bitcoin network and its PoW.

    https://medium.com/@CardaniansI/blockchain-needs-a-viable-incentive-mechanism-fb92dc1795cd

    " Bitcoin halving occurs every 4 years. In 2030 the Bitcoin block reward will be 1,56 BTC. One block is mined approximately every 10 minutes so there is mined 144 blocks per day. The network is able to process 7 transactions per second which are 604,800 per day. If one transaction would cost $0,01 then the network would generate $6,048 per day. We can neglect transaction wee if we want to presume it remains low. It cannot be like that and fees might rise to keep the network secure. If a transaction fee would be for $10 then $6,048,000 could be collected a day.

    So network subsidy is more important for Bitcoin than the collected transaction fees. As we stated above, the block reward will be 1,56 BTC in 2030 so the Bitcoin network would earn $2,246,400 per day if BTC costs $10,000, or $22,464,000 if BTC costs $100 000."

    https://iohk.io/en/blog/posts/2018/10/23/stake-pools-in-cardano/

    " In the case of Bitcoin, we have both the above mechanisms, incentivization and pools. On the one hand, mining is rewarded by transaction fees as well as a block reward that is fixed and diminishes over time following a geometric series. On the other hand, pools can be facilitated by dividing the work required for producing blocks among many participants and using 'partial' PoWs (which are PoWs that are of smaller difficulty than the one indicated by the current state of the ledger) as evidence of pool participation. "

    " How do Bitcoin-like mechanisms fare with respect to the decentralization objective? In Bitcoin, assuming everyone follows the protocol, pool rewards are split in proportion to the size of each pool. For example, a mining pool with 20% of the total hashing power is expected to reap 20% of the rewards. This is because rewards are proportional to the number of blocks obtained by the pool and the number of blocks is in turn proportional to the pool's mining power. Does this lead to a decentralized system? Empirical evidence seems to suggest otherwise: in Bitcoin, mining pools came close (and occasionally even exceeded) the 50% threshold that is the upper boundary for ensuring the resilience of the ledger. A simple argument can validate this empirical observation in the framework of our reward-sharing schemes: if pools are rewarded proportionally to their size and pool members proportionally to their stake in the pool, the rational thing to do would be to centralize to one pool. To see this consider the following. At first, it is reasonable to expect that all players who are sufficiently wealthy to afford creating a pool will do so by setting up or renting server equipment and promoting it with the objective to attract members so that their share of rewards grows. The other stakeholders that are not pool managers will join the pool that maximizes their payoff, which will be the one with the lowest cost and profit margin. Pool competition for gaining these members will compress profit margins to very small values. But even with zero profit margin, all other pools will lose to the pool with the lowest cost. Assuming that there are no ties, this single pool will attract all stakeholders. Finally, other pool managers will realize that they will be better off joining that pool as opposed to maintaining their own because they will receive more for the stake they possess. Eventually, the system will converge to a dictatorial single pool. "

    " The experiment leads to a centralized single pool, validating our theoretical observations above for Bitcoin-like schemes. From a decentralization perspective, this is a tragedy of the commons: even though the participants value decentralization as an abstract concept, none of them individually wants to bear the burden of it. "

    https://emurgo.io/en/blog/features-of-staking-in-cardano

    " over time, Bitcoin converges into a dictatorship model due to centralization of miners and the underlying reward sharing mechanism, which causes stakeholders to, myopically, choose pools that have minimized their operational costs as there are more rewards available to stakeholders from those pools. "

    Any thoughts? Will Bitcoin still exist in 2030?

    submitted by /u/crypto_deus
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