Quark is a decentralized digital monetary system. It facilitates sending Quarks to Friends, Family Members Online Payments free of charges and charge-backs. Military Grade Encryption. No Bank or Government Control. Quark coins are based on the original idea of Bitcoin but improved, more secure, faster transaction times and zero fees. With improvements to design and security. There is also a greater coin supply with higher block rewards for miners. Quark is fully Open Source.
A full disclaimer: I am not a member of the Quark dev team, nor am I officially related to quark in any capacity. I'm only very modestly invested in quark, no more than other cryptos and far, far less than Litecoin. Still, I believe in cryptopluralism, so I want to answer this nagging question of quark pre-mining. Much has been made in /bitcoin and other subreddits about the fact that 98% of Quarks that will exist have been mined and that mining will continue at a set rate of ~1 million Quark per annum (~0.5% rate of inflation). I want to address this issue to pointing out what it brings to the table. There are two big problems facing Bitcoin right now. First, ASIC-led mining cartels who are de facto centralizing the day-to-day operation of the bitcoin network. There are a number of academic papers that indicate severe structural flaws that existentially threaten the bitcoin network if the extent hashing pools collude in certain ways. Second, Bitcoin is a terrific store-of-value, but so far it's been an abysmal currency. BTC faces several barriers to widespread circulation as a currency; among them are the yield on holding (as proponents target 1k, 10k, 100k) and issues of divisibility (right now we're seeing a hap-dash adoption of the mBTC standard). Because of the 'buy or hold' paradox (which have a number of unwieldy solutions for merchants to avoid fluctuation risk), cryptocurrencies need an everyday spending coin and this is the niche that quark can fill. The 257m current circulation assures the commonness of quark, which in turn guarantees that quark can be exchanged/transacted without fear of future fluctuation. I personally don't believe that quark is severely undervalued; I feel as if a proper valuation would find itself squarely, stable-y within the $1-$5 range and stay there. Further, the 257m figure and the lack of future inflation (in any meaningful sense) means that Quark, once it finds its parity, won't be subject to the same sort of speculating and day-trading that are a mark of scarcer coins; you're not going to have a future glut of coins that drive the trading dynamo as speculators buy the coins that miners sell. The 1m per year inflation is a token prize that helps to maintain the hasing-network and transaction confirmation while making up for coin-loss. It's also directly positioned against allowing for the type of mining centralization that we see in Bitcoin, because the rewards are far fewer. A couple of other points: I have to say that Quark confirmation times are much, much faster than any other coin I've used. I'm actually surprised at how fast confirmation times are. When I traded for my first quarks, off of an exchange, I had six confirmations within two minutes and 92 by the ten minute mark. A crypto of speed is required for small-order brick-and-morter transactions. BTC is terrific for large purchases (say, a car) when it would be expected to sit around while the network confirmed the transaction, or for online commerce in which time doesn't matter all that much. But to be a POS solution in physical shops, a coin need to be fast. I also believe in crypto-pluralism. Nature abhors a vacuum and the market abhors a monopoly. I firmly believe that we'll see concurrent, competing virtual currencies when this technology meets mainstream adoption. In this current stage of market speculation, frictionless capital transfer between cryptos means that they can absorb each other's market fluctuations. For mainstream adoption, it's necessary to have multiple prominent cryptos that all employ different hashing algorithms; this is, perhaps, the unintended heart of Max Keiser's "BTC/LTC/Quark" comment. Bitcoin uses SHA-256, Litecoin uses Scrypt, and Quark is 6-factor. The difference goes beyond the fact that most cryptos are literally copies of SHA-256 or Scrypt coins and has everything to do with risk. The prominence of cryptos will bring with it sophisticated attempts at attack; imagine the market panic if it is ever found that one of the hasing algorithms has a severe flaw. A monopole economy would collapse, a dipole would see such a marked capital flow and restructuration as to severely damage confidence. Three or more differently-hashed cryptos distribute risk in an acceptable way.
Daily analysis of cryptocurrencies 20191111(Market index 40 — Fear state)
https://preview.redd.it/ng1rc23cm1y31.jpg?width=1080&format=pjpg&auto=webp&s=6b4874423f96506b8ff820b8983e6fac5f093a6a Argentina Sets New Trading Record After Central Bank Bans Bitcoin BuysBitcoin (BTC) trading set new records in two of its most keenly watched South American markets last week, new data has revealed.As monitoring resource Coin Dance confirmed on Nov. 10, the seven days ending Saturday (Nov 9) saw more trading against BTC than ever before in both Venezuela and Argentina.In total, Venezuela traded 142.9 billion sovereign bolivars (VES) last week, while Argentina managed 19.4 million pesos (ARS). Both are firm records over previous levels. Bitcoin Called “First Successful Application Of Blockchain” By State-Run Chinese NewspaperChinese state news agency Xinhua has published a front-page article entitled “Bitcoin: The First Successful Application of Blockchain Technology,” according to Sino Global Capital CEO Matthew Graham.The lengthy article explains the main peculiarities of Bitcoin, an open-source P2P cryptocurrency, describing how BTC transactions and mining work. It also mentions that the price of the top cryptocurrency tends to fluctuate a lot, and it’s difficult to ensure its stability. Canada’s First Legally-Delivered USD Stablecoin Launched By Blockchain Venture CapitalThe Blockchain Venture Capital Inc. (BVCI) has launched CUSD — the first legally delivered USD-stablecoin in Canada.The cryptocurrency is supplemented by a mobile wallet called Bvc Pay which is used to store, exchange, and trade CUSD over-the-counter (OTC).The same company also developed the world’s first stablecoin pegged to the value of the Canadian dollar (CAD) — first launched on Canada Day back on July 1, 2019. Bitcoin Mining Difficulty Sees Biggest 2019 Drop As Hash Rate SpikesBitcoin (BTC) mining difficulty adjusted downwards more than at any time since its 2018 price low on Nov. 8, data shows.As noted by entrepreneur and cryptocurrency commentator Alistair Milne on Monday (Nov 11), difficulty fell by around 7% after the network’s latest readjustment. After a major decline, bitcoin found support near the $8,670 level against the US Dollar. A new monthly low was formed near $8,674 before the price started an upside correction. The price recovered above the $8,800 and $8,900 levels. Moreover, there was a break above the $9,000 resistance area and the 100 hourly simple moving average. The bulls were able to gain strength, but they faced a strong selling interest near the $9,150 and $9,160 levels. A high was formed near $9,146 and the price is currently retreating from the high. It broke the $9,000 support area and the 100 hourly SMA. Additionally, there was a break below the 23.6% Fib retracement level of the recent wave from the $8,674 low to $9,146 high. Review previous articles:https://firstname.lastname@example.org
Encrypted project calendar（November 11, 2019）
PAX/Paxos Standard:Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference.Crypto.com Coin (CRO):and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore.GoldCoin (GLC):11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…”Horizen (ZEN):11 November 2019 (or earlier) Horizen Giveaway — Nodes Horizen Giveaway — Win Free Node Hosting! Entries before November 11th.SINOVATE (SIN):11 November 2019 Roadmap V3 SINOVATE (SIN) Roadmap V3 will be released with new upcoming technologies and proof of concepts!0x (ZRX):11 November 2019 0x V3 Vote Ends “The voting period will end on November 11. Learn more about all the exciting features included in v3 below.”Akropolis (AKRO):and 4 others 11 November 2019 Kucoin Blockchain Day “KuCoin Blockchain Day Berlin 2019” from 5 PM — 9:15 PM (CET) in Berlin.
Encrypted project calendar（November 12, 2019）
BTC/Bitcoin:The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13thBinance Coin (BNB)and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.”Aion (AION)and 17 others: 12 November 2019 The Capital The Capital conference from November 12–13 in Singapore.Loom Network (LOOM):12 November 2019 Transfer Gateway Update “If you have a dapp that relies on the Transfer Gateway, follow the instructions below to make sure you’re prepared.”Kava (KAVA):12 November 2019 Updated Mainnet Launch “Our updated mainnet launch will be on Tuesday November 12th at 14:00 UTC.”Crypto.com Coin (CRO):12 November 2019 Telegram AMA Live AMA with CRO COO and Kucoin’s Global Community Manager on KuCoin’s official English Telegram channel at 16:00 (UTC+8).Chainlink (LINK):and 1 other 12 November 2019 NYC Meetup “Ontology + Future of Blockchain in China Meetup Presented by Chainlink” in NYC from 6:30 PM — 8:30 PM.
Encrypted project calendar（November 13, 2019）
Fetch.ai (FET):13 November 2019 Cambridge Meetup “Join us for a@Fetch_ai#Cambridge #meetup on 13 November@pantonarms1.”Binance Coin (BNB)and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…”OKB (OKB):13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov.Centrality (CENNZ):13 November 2019 AMA Meetup “Ask our CEO@aaronmcdnzanything in person! Join the AMA meetup on 13 November in Singapore.”OKB (OKB):13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET).Vexanium (VEX):13 November 2019 Dapps Incentive Program Vexanium will give an incentive for every Dapps that is submitted during this program period.Egretia (EGT):13 November 2019 Post Consensus Invest “2019 NYC Blockchain Gaming & DeFi Party | Post Consensus Invest” in NYC from 7–9 PM.Holo (HOT):13 November 2019 AMA “Submit your questions before the #AMA on Nov 13th @ 5PM — 5:45PM UTC”
Encrypted project calendar（November 14, 2019）
BTC/Bitcoin:The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th.Binance Coin (BNB):and 4 others 14 November 2019 BlockShow Asia 2019 BlockShow Asia 2019 at Marina Bay Sands Expo, Singapore from November 14–15.Basic Attention Token (BAT): 14 November 2019 London Privacy Meetup “If you’re in London on Nov. 14th, don’t miss our privacy meetup! The Brave research team, our CPO@johnnyryan, as well as@UoE_EFIHorizen (ZEN):14 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.IOTA (MIOTA):14 November 2019 Berlin Meetup From Construction to Smart City: IOTA, Maschinenraum & Thinkt Digital will explain, using concrete use cases, how to gain real value from..Dash (DASH):14 November 2019 Q3 Summary Call “Dash Core Group Q3 2019 Summary Call — Thursday, 14 November 2019”NEO (NEO):14 November 2019 NeoFest Singapore Meetup “Glad to have@Nicholas_Mertenfrom DataDash as our host for #NeoFest Singapore meetup on 14th Nov!”ANON (ANON):14 November 2019 ANONIO Wallet Upgrade In conjunction with the Echelon Update, the ANONIO wallet will also be receiving an upgrade!
Encrypted project calendar（November 15, 2019）
TRON (TRX):15 November 2019 Cross-chain Project “The #TRON cross-chain project will be available on Nov. 15th”Bluzelle (BLZ):15 November 2019 (or earlier) CURIE Release CURIE release expected by early November 2019.Zebi (ZCO):15 November 2019 ZEBI Token Swap Ends “… We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins.”OKB (OKB):15 November 2019 OKEx Talks — Vilnius “Join us for a meetup on 15 Nov (Fri) for our 1st ever Talks in Vilnius, Lithuania.”Zenon (ZNN):15 November 2019 Awareness Fund Payout “Distribution of the fund takes place every Friday until Pillars Lock-in Phase is completed.”
Encrypted project calendar（November 16, 2019）
Bancor (BNT): and 2 others 16 November 2019 Crypto DeFiance-Singapore “Crypto DeFiance is a new global DeFi event embracing established innovators, financial market disruptors, DApp developers…”NEM (XEM):16 November 2019 Developer’s Event “BLOCKCHAIN: Creation of Multifirma services” from 10:50 AM — 2 PM.
Encrypted project calendar（November 17, 2019）
OKB (OKB):17 November 2019 OKEx Talks — Lagos Join us on 17 Nov for another OKEx Talks, discussing the “Life of a Crypto Trader”.
Encrypted project calendar（November 18, 2019）
Maker (MKR):18 November 2019 MCD Launch “BIG changes to terminology are coming with the launch of MCD on Nov. 18th Say hello to Vaults, Dai, and Sai.”
Encrypted project calendar（November 19, 2019）
Lisk (LSK):19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”Aion (AION):19 November 2019 Hard Fork “Leading up to the hard fork on November 19th-20th, 2019 the Unity — Aion Kernel will be upgraded by node operators.”
Encrypted project calendar（November 20, 2019）
OKB (OKB):20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!DAPS Token (DAPS):20 November 2019 Partnership with SWFT “Everyone will have $DAPS mobile wallets, atomic swaps and much more starting on the 20th of November!”
Encrypted project calendar（November 21, 2019）
Cardano (ADA):and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…”Cappasity (CAPP):21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.”Horizen (ZEN):21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.OKB (OKB):21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.”IOST (IOST):22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech.OKB (OKB):22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “
Encrypted project calendar（November 22, 2019）
IOST (IOST):22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key techOKB (OKB):22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “
Encrypted project calendar（November 27, 2019）
OKB (OKB):27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!”Fetch.ai (FET):27 November 2019 London Meetup “Join us on 27 November@primalbasehqto hear an exciting progress report as we prepare for the launch of our #mainnet”
Encrypted project calendar（November 28, 2019）
Horizen (ZEN):28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（November 30, 2019）
Ethos (ETHOS):30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.”Digitex Futures (DGTX):30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.”Monero (XMR):30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.”Chiliz (CHZ):30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…”Skrumble Network (SKM):30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019.Aergo (AERGO):30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November.Akropolis (AKRO):30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Nash Exchange (NEX):30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”
Encrypted project calendar（November 31, 2019）
Wanchain (WAN):31 December 2019 (or earlier) Wanchain 4.0 Release Wanchain 4.0, which introduces private chains integration and multi-coin wallet, released in Dec 2019.QuarkChain (QKC):31 December 2019 (or earlier) Token Testnet Release Testnet for Multi-Native-Token and New Consensuses.
QuarkChain (QKC): Why I'd Rather Burn my Money than Contribute to this ICO
Taken from: https://satoshi.blog/2018/05/24/quarkchain-qkc-burn-money/ At least in this case i’ll be responsible for my loss of money. For me this is not a worthy ICO but that doesn’t mean it’s the same for you. Do your own research as usual. If you haven’t heard about QuarkChain (QKC) by now(I doubt it!), it is yet another blockchain promising a very high throughput. The key difference of their blockchain compared to the already existing ones? QuarkChain adopts the divide-and-conquer idea to separate the two main functions in two layers with the goal of a better scalability while guaranteeing security. The network thus has two layers of blockchains:
The Sharding layer (shard)
This layer contains an elastic number of blockchains (shards). Each shard processes a portion of all transactions independently. This process increases the system capacity. The Casper Protocol being built for Ethereum to scale the network will be using sharding.
The Root Blockchain (rootchain)
The rootchain’s responsibility is to confirm all blocks from sharded blockchains. 📷 Their blockchain would supposedly be able to support cross-chain transactions since the transaction from another blockchain could be implemented by converting the tokens by an adapter. The QuarkChain Network should also be able to support smart contracts via Ethereum virtual Machine. This is the big picture of the project, i’ll let you go through the white paper if you want more information. I’ll concentrate my efforts on the multiple red flags i’ve encountered while trying to make sense of the project.
The Red Flags
You can see the token distribution below. First, 2B QKC are available for investors. Participants of the private sale get 75% of it with a 25% bonus while ICO participants get 25%. Classy. There is a slow release of tokens but only 7 months after the sale, private sale participants will have been able to dump all of their tokens. The mainnet is set to be released in Q4 2018(it will probably be later than that since most projects have difficulties respecting schedules) So private sale participants will probably have been able to sell their entire stack before the product is even released to the public. Makes perfect sense, right? 📷 📷 Then the other 80% of the total supply is, as we can see on the picture above, divided between the team, the foundation, the advisors, mining(Oh we need tokens to mine now?), community and marketing. I don’t know about you but I think it’s pretty vague and when I invest in a project I like to know where the money will go. As mentioned before, the community will get some of the tokens. To be able to get in the ICO, it is kind of a lottery system where participants get a rating based on:
Timestamp of Telegram join date
Understanding of the project
Contribution to the project
The last part is a bit ridiculous because it creates an incentive for potential investors to portray the project only in a good light in order to maybe be able to get a piece of the pie. Also, I think it’s important to mention that Ian Balina participated in the private sale. I’ll just leave it at that. He’s in it for the technology, right?
Potential attacks on the network
In the whitepaper it is mentioned that the root chain has a significantly large portion(over 50%) of hash power over the whole network. A malicious miner only needs 25%(50% * 50%) of the hash power to perform an attack on the network. What if the hash power on the root chain is even lower? It seems like attacking this network would be way too easy. We have seen recent events of 51% attacks on Bitcoin Goldand Verge. The number of different blockchains is going up at an alarming rate so the total available hash rate is spread around, making this kind of event even more likely for new projects. Blockchains just can’t tolerate the fact that someone with 25% of the hash rate can perform a malicious attack on the network.
GitHub and transactions per second (TPS)
They have a GitHub profile but it is private. Why would they do R&D, say that they have a good prototype but not show anything about it? In the whitepaper, they say the network will be able to do 100 000 TPS. Okay, and then on their website it is mentioned that for their latest testnet trial run they obtained a number of 2279 TPS. Where’s the logic behind this? Investors have no way to know what they’re investing in since the whitepaper is vague and the technology behind the project is not well explained.
The token will be used as fuel for the network, like most blockchain platforms do. Even after reading the whitepaper, incentives to hold the tokens are not clear. Apparently, and I quote
The essence of the virtual currency is the value carrier, which is the most important attribute of QKC.
How can the main value of a brand new cryptocurrency be attributed to its ability to carry value? In my previous article How to Analyze ICOs I mentioned I don’t analyze a project in its entirety if there are too many red flags. I’m out.
The Strange Birth & History of Monero, Part II: BitMonero
--YOU CAN READ THIS IN SPANISH HERE-- When i first knew about Monero i was hungry of information, and when i found the americanpegasus post about "The Strange Birth & History of Monero" i loved it. I looked for a second part for a while but as there was no trace of it i did my own investigations. Now i've decided it could be a good idea to paste the results here with the same format as americanpegasus did, to help new users looking for info about the "strange birth" of Monero. Bitmonero - a new coin based on CryptoNote technology https://bitcointalk.org/index.php?topic=563821.0 Notable comments in this thread: -1: " Important: this is not a Bytecoin relaunch or not a Bytecoin replacement but a Bytecoin fork. Bytecoin has its own long history, community and stakeholders we don't know much about. I respect them and their decisions even if I don't understand them now. An intention to relaunch coin is always harmfull for everybody involved. Fork is a right way to contribute to community in case you don't agree with decisions already made. - Why did I make fork? - Because there is a number of technical and marketing issues I wanted to do differently. And also because I like ideas and technology and I want it to succeed. I did an announcement ASAP while a lot of details aren't still defined because the earlier it is announced the more people will be able to join. Details will appear as soon as they will be defined and decided. Here are details that are already defined and I don't plan to change this:
New coin will use Bytecoin(BCN)/CryptoNote code base.
New coin is started from scratch (i.e. from genesis block).
Emission schedule has a flatter curve (close to Bitcoin's original curve).
(https://bitcointalk.org/index.php?topic=563821.msg6476068#msg6476068) [TFT breaks out (30th, Apr 2014): he does not recognize community changes] -403: “You did not really fix it. You just ignore every error in the code with your 'update' We should wait for tacotime to confirm that the issue is fixed. PS: We should all use the main thread: Please use main thread: https://bitcointalk.org/index.php?topic=583449.0” (https://bitcointalk.org/index.php?topic=563821.msg6476331#msg6476331) [It is not a secret anymore: TFT and the “rebel” community do not have a good relationship] -480: (https://bitcointalk.org/index.php?topic=563821.msg7384159#msg7384159) [Months back (June 2014) and after a few months of inactivity, TFT comes back and makes public that he will keep working in BitMonero] -487: “Actually, several attempts were made behind the scenes and TFT's continued demand was full admin rights over the Monero repo. Now, what could that be useful for when tacotime already offered push/pull rights? It's certainly not about contributing code - push/pull offers the right to do that without interference or permission. This is basically a repeating pattern of shutting out everyone else, which is ironically what caused him to lose the project in the first place. The tone of that post makes his level of maturity obvious for everyone to see. I might also point out that his contribution to date consists of 10 or so lines of code changed in a header file (to clone BCN). Then a bug 'fix' that actually allowed the chain to be attacked later (now fixed). This was followed by his disappearance. Disproportionate visibility indeed.” (https://bitcointalk.org/index.php?topic=563821.msg7387658#msg7387658) [eizh makes clear they tried to make a deal with TFT] This is basically everything worth reading in this thread. I’ve extracted the most important posts in the whole thread, from first to last page. TFT, Bitmonero and its community are key in the birth of Monero. These are the main conclussions:
BitMonero has a reason to exist. But to justify its existence it doesn’t need just reasons, but also a dedicated team and a participative community.
Thankful_for_today definitely it is not a sociable leader. His posts are scarce, every few days, and he can’t keep up to date with a nascent community really dedicated
TFT is desperate to launch BitMonero, probably to be the first Bytecoin fork and have the “first mover” advantage. He is even about to launch without Windows client.
Due to the rush, TFT has induced a few bugs. The most important one the emission curve.
Bytecoin starts to have some traction, and TFT keeps ignoring community suggestions, so the community has now doubts of BMR future. NoodleDoodle, eizh, David Latapie, Tacotime and smooth among others lead a split, firstly just to change the name and re-publishing the announcement thread, but they will eventually hard-split.
I have already ready a summary of the MRO topic that has a short life of not even 2 days but still has A LOT of interesting info about how the team is being built and what are their opinions on several topics. May i remember you that by then Monero had 1 minute blocks and an emission curve that would have created 86% of the tokens in 2 years. In the next post (will only make it public if i see there's any interest) we will see how and when the team adressed the problems with the emission curve, and when was the miner optimized to take away the probably voluntary obfuscations the code had.
[Guide] No hardware to mine? How to net 6,000+Ð/day using Windows Azure
Inspired by lleti 's free guide for using Amazon Web Services. However, from what I understand due to rental costs, it is more efficient to buy doge directly than use AWS. This guide is based on utilizing the $200 credit that comes with the Windows Azure cloud computing free trial, so you will not pay anything. This is targeted at shibes with poor hardware that can only mine 50-200 doge per day, but it will work for everyone. Disclaimer: Doge rate is an estimate based on current difficulties and market. Windows Azure trial may be US only (?) Overview / How it works You will not be mining doge directly with this method. Mining doge effeciently requires a GPU, which aren't found in traditional servers. Instead, we will be using the powerful CPUs provided with Windows Azure servers to mine a CPU based crypto-currency, such as QuarkCoin or SecureCoin, and convert those to doge. Steps 1) Install your QRK or SRC wallet Ideally if you are reading this, you have installed a dogecoin-qt wallet for yourself before. We will need to do the same for either QuarkCoin or SecureCoin. This is the wallet where will will send the coins you mine with your Windows Azure servers.
These are not the only CPU coin options, but QRK and SRC are very similar (same hash function) and simple to mine. Once you have installed the wallet, it should look very similar to your DogeCoin wallet. If you have trouble downloading the blockchain ('out of sync'), look at thesethreads respectively to see which nodes you need to add to your config file. Config files are located at C:\Users\UserName\AppData\Roaming\CoinName.conf on Windows. 2) Set up a mining pool account If you have joined a mining pool for DogeCoin, it will be a very similar experience for other alt coins. See the following bitcointalk threads which have a list of mining pools:
If you would like a pool recommendation, I can recommend src.coinmine.pl and qrk.coinmine.pl; this is from personal experience, I am not affiliated with them. Once you are logged in you should also create 3 workers, as we will be setting up 3 servers, one for each server. So you should have 3 worker names, and a password set up for each worker. 3) Sign up for Windows Azure free trial Link: www.windowsazure.com/en-us/pricing/free-trial/ You will have to provide a valid credit card and verify your account with a cell phone so they know you are a real person. This is a Microsoft product so they are reputable. Once you sign up, you will receive a $200 to use in 30 days. Remember to cancel when your credits are running out so they don't charge you. 4) Create Windows Server instances I would recommend you watch this video which walks you through the UI of the Windows Azure management site to set up the virtual machines we need. Essentially we are going to do the following:
Create 2 Windows Server 2008 R2 SP1 instances with 8 CPU core / 14 GB RAM option
Create 1 Windows Server 2008 R2 SP1 instance with 4 CPU core / 7 GB RAM option
Thus we have a total of 20 CPU cores to mine QRK / SRC with. We want the the most CPU power we can get without excessively burning our $200 credit. That's why 2008 R2 is used, and only 3 instances of it. 5) Remotely connect to servers and download miner This section is also covered in the video from section 4, watch it for a visual walkthrough. Once the servers have been initialized on Microsoft's end, we should be able to access them under 'Virtual Machines' at www.manage.windowsazure.com. You should see each host name and a status, and when selected there should be an additional 'Connect' button - click it. You should now be prompted to download a .rdp file. Download this for each of your 3 virtual machines to a folder you will remember. You will open this .rdp file and use the login credentials you previously specified to connect to each server. Once you are remotely connected, you should see the desktop. Open up the first icon on the taskbar that looks like a server, this is your server manager. We need to open up the 'Configure IE ESC' setting that's visible on this pane. Make sure 'Off' is selected for both admins and users on the IE ESC configuration. Now, open up the IE browser and navigate to https://docs.google.com/file/d/0B9cvOfoOekSdVzZZcThLZHg4bjA/edit. Press Ctrl + S to download the entire zip to the desktop, and un-zip it. 6) Configure and start miner Again, this is pretty much covered in the video from section 4, if you prefer watching. You should now have a folder on your server's desktop named quark-v2_w64. This is the miner for both QRK and SRC. We are going to be using minerd64_sse4.exe. Create a shortcut to minerd64_sse4.exe within the same folder. We now need to add the parameters for your miner. Right click on your minerd64_sse4.exe shortcut -> Properties. Look at the target field, it should look like this:
We are going append the following format to this target field
-a quark -t 8 -o stratum+tcp://src.coinmine.pl:6020 -u user.worker -p password
-a: algorithm, both SRC and QRK use 'quark' -t: number of cores (so either 8 or 4 for our purposes) -o: mining pool information (url and port). -u: account you have for your mining pool, then a period, then a worker name -p: password that you created for the worker in step 2 So here is an example of what the target field of your shortcut should look like when you are done:
7) Profit!! If you set up your miners correctly on each Windows Server VM (I prefer to assign a separate worker to each one), you should be able to run them and see an output like this: http://i.imgur.com/3lECqSz.png. You can close your remote sessions without interrupting it. How do you get the doge, you ask? Well, using the above setup I have earned 10 SecureCoins in the past 2 days. These are worth 0.00094 bitcoins (BTC) on Cryptsy at present. A doge is worth 0.0000007 BTC at present, so if I go from SRC -> BTC -> DOGE, I can turn 5 SRC to 6,642 DOGE on Cryptsy. There are also other exchanges, I won't go into how to exchange coins on this post. Remember, this is every day for about a week, for free! Also, you can CPU mine on your own personal computers as well, not just the servers. TL;DR Mine QuarkCoin / SecureCoin using Windows Azure free trial, use Cryptsy (or other exchange) to convert to DOGE. Much more efficient than CPU mining Doge.
4. Spreadstreet needs to connect to an external API, click on “Allow”.
Click "Allow" when prompted Note on security: All add-ins within the store go through a review. This is a wonderful security measure, especially in the Crypto industry, which is rife with scams and hacks.
5. Make sure the add-on is activated in your sheet:
Go to Add-on > Spreadstreet > Help
Click on View in store , then click on Manage and check Use in this document:
Data returned includes: Coin, ID, Tag, Algorithm, Block Time, Block Reward, Block Reward 24, Last Block, Difficulty, Difficulty 24, Net Hash, Exchange Rate, Exchange Rate Volume, Exchange Rate Currency, Market Cap, Estimated Rewards, Estimated Rewards 24, BTC Revenue, BTC Revenue 24, Profitability, Profitability 24, Lagging, and Timestamp
Example usage using the GUI: Open the Add-in Click “Add” to view the list of available APIs Click on the “WhatToMine” icon Click “Stats” Click “Insert” Click “Run”. This will paste values into the currently selected Cell, and save that in the main GUI for future retrieval Example usage using the =SS() Formula: =QUERY(A:W,”select A, T where T is not null order by T desc”) returns the most profitable GPU-minable cryptocurrencies.
How to use for ASIC-Mineable Coins
How does WhatToMine calculate profitability for ASIC-mineable cryptocurrencies?
SHA-256 values are adapted for Antminer S9, Scrypt for L3+ and X11 for D3.
Price is formulated from the following exchanges: Abucoins, Bitfinex, Bittrex, Bleutrade, Cryptopia, HitBTC, Poloniex, YoBit
Hash rate and wattage vary by algorithm. See the main page of WhatToMine for default values
Calculations are based on mean values, so final results will vary
What is the calculation missing?
Calculation does not account for future changes in price
Calculation does not account for future changes in network hash rate
Block rewards are fixed, future block reward reductions not taken into consideration
No significant changes to the underlying algorithm are assumed (for example, the Casper update)
Get most profitable ASIC coins Call the function =SS(“get-asic-whattomine”, true) to return various stats from ASIC-minable cryptocurrencies.
Data returned includes: Coin, ID, Tag, Algorithm, Block Time, Block Reward, Block Reward 24, Last Block, Difficulty, Difficulty 24, Net Hash, Exchange Rate, Exchange Rate Volume, Exchange Rate Currency, Market Cap, Estimated Rewards, Estimated Rewards 24, BTC Revenue, BTC Revenue 24, Profitability, Profitability 24, Lagging, and Timestamp
Example usage: =QUERY(A:W,”select A, T where T is not null order by T desc”) returns the most profitable GPU-minable cryptocurrencies.
Common issues and how to fix:
Do not keep your sheet open at all time. This will prevent the rates from refreshing. The rates will auto-refresh each time you re-open your sheet.
The add-on may not work right away on other old spreadsheets. You need to do this to activate Spreadstreet: Open the old sheet, click the menu Add-ons / Spreadstreet / Help / View in store, and then click Manage and in the dropdown menu click Use in this document .
Several people have started to agree with me recently that litecoins aren't dead yet. But I wasn't quite able to give a concrete answer as to why, until a comment reminded me that litecoins are the most widely traded of all the altcoins. BTC-e, for example, doesn't deal in phoenixcoins and ronpaulcoins. Being widely traded is a significant advantage, even if the coin doesn't itself have any advantages. I'm not sure why ASICs are relevant to the price of altcoins. ASICs are going to be distributed amongst miners just like they were with bitcoins; this just makes the miners fight a losing battle with each other, costing each other money. As long as one person doesn't get all the ASICs, it doesn't have any effect on network security. A while back, all the speculation was that litecoins would overtake bitcoins once Mt Gox accepted them for trading. In the interim, however, we have several major exchanges trading them. When an exchange wants to expand into altcoins, they don't look towards the trendiest new thing; the first mainstay they adopt is litecoins. The other advantage litecoins have is that there is a certain amount of "lock-in" with other coins. I've already commented about the concept of technological "lock-in." In this case, you have exchanges like Cryptsy that denominate some altcoins solely in litecoins. I found out that there is a class of altcoins that can only be traded Bitcoins -> Litecoins -> Altcoin. Even if you don't want litecoins, you still have to buy them if you want to play the game with these "penny stock" coins. That keeps their price high because even if merchants do not accept them, they still have utility and "acceptance" by exchanges. Also, a quick thought to ponder: a lot of the reason why people buy bitcoins is that bubbles crash, things change, and bitcoins are still around. Have litecoins reached the point where people expect them to die, they don't, and therefore they think there must be something to them?
Max Keiser recommends Darkcoins; I do not
Max Keiser put out a tweet trying to sell darkcoins to his followers, saying he thinks they will recover after their recent bug-fueled crash. Remember that Keiser was also the one who said to buy the essentially 98% premined Quarks too, and that failure alone might be reason enough to ignore whatever he says. I like the idea that when an altcoin has a lot of hype, it's not time to buy it. Darkcoins may have some benefits, but there is so much hype around them that there is almost certainly a bubble there. Don't confuse that with the idea that darkcoins won't have a niche in the future. However, just like bitcoins, there are times when hype gets out of proportion to the advantages the technology has.
Today's altcoin mining report
Altcoin mining profitability is all over the map today. If I had started testing this pool back during the last cycle, it would have been interesting to see if we could deduce any patterns from this data. As you can see in the charts at: http://shoemakervillage.org/temp/altcoins2014-06-07.jpg there are about 20 coins that are constantly switching as the most profitable. This may be partially a result of those new coins that have extremely fast difficulty adjustments. The chart isn't as useful without being able to mouse over the bars, but it gets the general point across just seeing all the colors. People obviously do not value most altcoins for their specific features anymore; most of them are just a game. There is one trend that is not all over the place: http://shoemakervillage.org/temp/altcoins2014-06-07-2.jpg The expected payout of scrypt coins is at $1.33/Mh/day now, which is completely opposite the trend of increasing bitcoin prices.
The effects of orphanage
Some altcoins reduce the block confirmation time by making the coin ridiculously easy to mine. There's no advantage to creating an altcoin that has huge numbers of blocks, because then all that happens is that your "confirmed' transaction is more likely to get orphaned. In testing, I was getting 30% orphanage rates on some of these fast coins. Look at what happened last night in the course of a few blocks: http://shoemakervillage.org/temp/altcoins2014-06-07-3.jpg However, I'm still trying to figure out whether orphanage actually reduces the pool's revenue or not. The conclusion I'm coming to is that it only cuts miners' revenue from the expected value if your orphan rate is higher than the average orphan rate of the network. If everyone has 30% of blocks rejected, then the blocks are still being created at the same rate and everyone gets the same amount of money. You only lose money if you have more orphans than everyone else does. Am I missing something here? If not, then orphanage is only an indicator of a bug or of monetary losses if I have orphaned blocks for long networks like bitcoin, where having another pool finding a block within a second or two is very unlikely.
None of the altcoins has the innovation that bitcoin needs
The only true innovation from any altcoin that would pose a threat to bitcoin is if someone came up with a yet-unknown solution to the 1MB transaction limit, that will be permanent for an indefinite period of time, and released a new coin with it. Some people mistakenly say that people will switch to altcoins to get around the block size limit, but that isn't the case because the most any altcoin has done to resolve it is to make blocks more frequent, which only raises the limit to some hardcoded value. Raising the limit to some hardcoded value isn't "solving" the problem, it's just putting it off into the future. Don't make a mistake and buy altcoins thinking that some altcoin is going to address that limit, because none has.
Altcoin code is a mess
Altcoins are a mess, when you are trying to compile their code. If you haven't done this with many coin daemons, which most probably haven't, then you probably don't know that almost all altcoins are just clones of bitcoin with some minor changes. This is one of the reasons why bitcoins have such an advantage, because you can't be innovative when you just copy stuff from the bitcoin developers. What some people don't know is that most altcoins aren't even doing that. There are a few altcoins that have changed little in many years, so instead of incorporating fixes that have been included in bitcoin since then, those coins never upgraded to newer block templates and they don't include the latest features. It also means that bugs that were later fixed are still present in those coins. Some coins, like namecoin, are in horrible shape and for many, it's a matter of time before this code aging causes some sort of security issue to be discovered.
Dogecoins are doomed?
Dogecoins are supposedly doomed. The idea is that the block reward is decreasing too rapidly, and the price of dogecoins needs to rise to avoid a 51% attack. I'm not so sure that the developers of dogecoins will just roll over and die, given how large that community is. More likely is that if the price stays stable and more block reward decreases occur, they will release a fork to stop the reward decline earlier than expected. That will devalue dogecoins significantly. If the hashrate of dogecoins starts to drop, I would get out. I don't think the network is "doomed," but I do think that the only solution to the problem is to devalue coins, and you obviously don't want to be holding when that is announced.
Negative "interest" rates
Apparently, the speculation now is that negative interest rates are going to spread to the rest of the world, and that banks will start charging an account maintenance fee, along with eliminating interest payments. In that case, what is the purpose of using a bank? I won't be keeping a checking account if that happens. Instead, I'll close my account, buy a safe and store cash in it, using banks only to trade stocks. I don't think I spent a single dollar in actual cash for the past year before this, so this is a technological regression. What kind of world is this where it is a better idea for me to store wads of cash in a safe instead of putting it in a bank, where they actually take money from me?
QuarkChain is an innovative permission-less blockchain architecture that aims to meet global-wise commercial standard. it provides a secure, decentralized, and scalable blockchain solution to deliver 100,000 on-chain TPS. So basically what this summary is saying for the average Joe’s out there is that QuarkChain is building fast blockchain and smart-contracts by scaling to over 100,000 on-chain transactions per second which is quite a lot. As you know bitcoin can only achieve around 7 TPS while Ethereum only 15. So 100,000 compared to that is quite a leap. It’s even more than VISA at 60,000 TPS. ICODrops gave it a rating of very high on ROI and Hype which is not far from the truth. With 80,000 telegram members and 15k twitter followers there’s definitely a lot of hype and interest in this coin. QuarkChain will scale by using a two-layered blockchain system. The first layer applies elastic sharding that will confirm transactions performed on the system. The second layer called root blockchain is set to confirm all the blocks from the 1st layer. With this, they want to achieve 100,000 to 1,000,000 transactions per second in the long term.
With a scale like that, people have been wondering how QuarkChain will stay secure and decentralized. To do that, they will use something called Collaborative mining. The goal of collaborative mining is to design incentive mechanisms and difficulty algorithms so that Hash powers are incentivized to distribute evenly among shards, this ensures that all shards are mined evenly thus the system throughput like TPS increases as the number of shards increases. The root chain will also have a significant large portion, over 50% of the hash power over the whole hash power of the network. This prevents double spend attack, so basically for a malicious miner to be able to perform such an attack, they’d need 25% of the entire hash power of the system, which would be very economically inefficient. Now you might be thinking well on bitcoin you need 50% of the hash power to be able to perform a double spend attack which is double the amount needed for QuarkChain, how’s that more secure. Well basically in blockchains like bitcoin when the hash power increases or when more miners join the system the expected return of a weak miner grows significantly which causes miners to join different pools which greatly encourages centralization. QuarkChain is going to prevent that by being designed so that weak miners don’t need to join these huge mining pools to be able to collect their rewards. So even with half hash power needed for a double spend attack it’s still more secure than the single layered blockchains like Bitcoin.
Ethereum Virtual Machine
QuarkChain will also implement EVM (Ethereum Virtual Machine) which is the most widely used execution engine for smart-contracts. So Dapps built on EVM can easily be deployed on QuarkChain. Right now QuarkChain is experimenting with testnet and they’ve already achieved 2279 TPS which shows great progress. Their testnet gets fully released sometime in Q2.
They are currently in testnet stages and plan on going mainnet in Q4 2018. Quarkchain will convert from an ERC20 token to its own blockchain with the ticker QKC after mainnet.
Founded by Qi Zhou who previously worked at Google has built a great team with a lot of talent. Consisting of 9 great team members and 7 advisors that will together build something incredible.
I believe in Quark due to the increased security and fast transaction times but the worry I always have with the coin is the dropping hashrate caused by the low block reward combined with zero transaction fees. See http://bitinfocharts.com/comparison/hashrate-qrk.html which shows a steady decrease now most of the mining is over. There is an interesting post on the bitcoin subreddit http://redd.it/22aw8c showing the dangers for altcoins with low hashrates. I'm not sure how quark would be safe from these attacks if it rose in price and popularity again to make these attacks financially worthwhile. I know we now have mining in the wallet but even maxing out an ivy bridge I7 for a few days I couldn't get any. Maybe if the client automatically connected to the nearest p2pool it would produce a few coins a day but would this get a big enough hashrate to protect the coin? The only solutions I can think of would need a hard fork, either an increase in the block reward or turning into a hybrid POS/POW coin. Ideally both to provide the max benefit with minimum forks. Most people would class 2% inflation as low in the fiat world so there is plenty of scope to increase it in Quark. Especially if we're aiming for a fast secure means of paying for stuff rather than a long term savings coin. I'm guessing that merged mining wouldn't be an option due to the difficulty of finding suitable coins to merge mine with that are big enough to make a difference. I'm hoping the devs are looking into these dangers as on the internet there will be a few people with the computing power to trash alt-coins if they can make money out of it and they won't care about the work that's gone into the coin. Sorry if this post comes across as negative but as I'm in the IT security business I'm the sort of person who looks into the worst case scenarios, how likely they are and how to avoid them.
From the "archives" : An Interview with Max Guevera, by K.C. James
Kc James: What propelled you to make Quark? How did it all start? Max Guevara: I found crypto currencies fascinating when I discovered Bitcoin about two years ago, having a background in programming and a keen interest in finance and economics. From an economic viewpoint, the idea of a currency not controlled by a central authority, but rather by agreement between its users, is an interesting concept. Having followed the "alt-coin" forums on bitcointalk I was always interested in coins that implemented new ideas. A coin called SifCoin, released on the Russian forums, caught my attention because it used six different algorithms for hashing instead of one. All coins up to that stage (that I am aware of) used only one hashing algorithm. The obvious advantage of having multiple hashing algorithms on top of each other makes is to make the hash as a whole more secure. If one of the hashes is ever broken, there are five more to break. I modified this approach to interweave an additional three rounds of hashing for a total of nine rounds of hashing. These three rounds use a random hashing algorithm, making it even more difficult to break. Sifcoin used an approach where block reward increases over time, making for a very inflationary money supply. I instead attempted an approach where the coin supply would stay relatively stable over time. This is achieved in two ways, firstly by producing the coins in a relatively short period of six months, instead of years as is the case with Bitcoin, and secondly to have a constant yearly coin production of around a million coins per year. The yearly million coin production has two purposes, the main purpose being to keep the network secure by permanently rewarding miners, and secondly to make up for coins lost through lost wallets, making for a relatively constant money supply. One economic definition of inflation is an increase in money supply. By that definition, other coins still have a high inflation rates, as many new coins are still mined, while Quark is almost at the stage where the one million coins will produce around 0.5% inflation for the first year. Ever since its release Quark had good community support from various fantastic members who ran forums, developed a GPU miner and provided other services. KJ: Particle physics has been a fascination of mine for awhile now. So, naturally, the first thing that really caught my attention with 'Quark’ was it’s unique name, and proton-like logo. What was your initial reason for using an elementary particle as the name and logo for a crypto-currency? MG: Yes, the name was inspired by the sub-atomic particles and the logo was inspired by a representation of the quarks in a proton. There is the similarity in that there are six types of quarks and six hashing algorithms used by Quark. KJ: Quark went from being just another crypto-currency in a long list of other alt-cryptos, to the #4 spot on CoinMarketCap.com, in a staggeringly short amount of time. How surprised were you by Quark's sudden rise in popularity? MG: I was extremely surprised when it approached the top 10 coins on CoinMarketCap. Alt-coins and exchanges have received a lot of media coverage recently. This caused an influx of people registering at exchanges like Cryptsy and caused a general rise in the price of most alt-coins. I guess Quark's secure hashing made it stand out from other coins. KJ: One of the most persistent and cliched criticisms coming from Quark-naysayers in the crypto-community, is the accusation that ”Quark has been pre-mined.” Could you elaborate on why this statement is false, and if it's not false, then could you explain how this is a non-issue? MG: Generally the term "pre-mine" in the alt-coin community refers to mining a coin before releasing it to the public, or where a coin has a special block in the beginning (usually block 1) that gives a large reward to the developer. Neither of these apply to Quark. Quark was released on bitcointalk, the most active alt-coin community on the web, with only the genesis block mined. During this period on the alt-coin forum, many new coins were released, sometimes multiple coins a day. The response to Quark's release was also a big surprise. Within minutes the seed nodes were maxed out with hundreds of connections and additional nodes were provided by other members of the forum. The coin was listed on multiple exchanges relatively soon after its release, so I think this allowed for a relatively wide distribution of coins before the recent dramatic rise in price. KJ: In layman's terms, could you explain how Quark is better than Litecoin and/or Bitcoin? What makes Quark different and more worthwhile than those two leading crypto-currencies? MG: I would not like to say one crypto currency is better than another, since these are relatively early days in the cryptocurrency world. Both Bitcoin and Litecoin have huge communties, which I personally believe is a big reason for their success. Quark offers an alternative, arguably more secure hashing algorithm than Bitcoin and Litecoin, quicker transaction processing and a mining model that aims to have a virtually constant coin supply. KJ: Quark's transfer time is said to be the fastest and most secure out of all the other crypto-currencies in existence. Could you explain, in layman's terms if possible, how/why Quark is faster and more secure than other crypto-currencies like Litecoin and Bitcoin? MG: The main security improvement in Quark over other crypto currencies is its hashing algorithm. It makes it less likely that transactions blocks could be compromised if one of the hashing algorithms is broken. Given recent revelations on how much influence government agencies had over the design of cryptographic standards, it might not be inconceivable, although highly unlikely, that some algorithms may have been compromised. Quark's hashing algorithm also makes it very difficult to build custom machines (ASIC) that could out-hash a large network of PCs. The hashing algorithm is not the only factor in the security of a coin. There are other factors like checkpoints, the size of the hashing network and the age of a transaction. Bitcoin is currently the leader in hashing power. With its high hashing difficulty, it does have security advantages over the other coins currently out there. KJ: Where would you like to see the Quark community take the currency? MG: To a strong, secure, widely accepted crypto currency with a wide range of products and services offered in Quark. KJ: In your opinion, how important is the community that is currently being developed around Quark, to Quark's overall success? MG: The community is essential. A currency only works if it is widely used and accepted. Governments have the ability to enforce a currency on its citizens, but crypto currencies need the voluntary acceptance of its users. KJ: What, in your mind, would make Quark a success? Would you like to see Quark overtake Bitcoin one day? Do you think a feat of that sort would be possible for Quark? MG: Quark will be successful if a strong community develops around the coin, and this has already started to happen. Some very talented and enthusiastic individuals have started doing great work to improve Quark and its infrastructure. I think there is place for multiple crypto currencies to co-exists. Certain currencies offer advantages over other and may be more suited for certain purposes. Quark offers quick transactions, a relatively constant money supply and a secure hashing algorithm. Bitcoin is still by far the leading crypto currency, in terms of community, recognition, and security. But the crypto-currency world is still in its infancy, and who knows what the future might hold. *PLEASE NOTE, THIS INTERVIEW WAS CONDUCTED SOME MONTHS AGO (DECEMBER?)- It was previously posted on a website no longer in service, Kc was kind enough to provide me with a copy:) *Comments?
Update will be released around 7PM UTC time this Friday. (2PM Eastern / 11AM Pacific) Here is what we would like to accomplish with the upcoming update: 1) Change block difficulty re-target to 1 minute to resist multi-pool mining & dumps to help steadily build the price. 2) Add transaction message support. 3) Update to latest version of Bitcoin/Litecoin client. 4) Reduce the block reward by 0.5% every 7 days starting at 8000 DGB. Gravity Well vs Re-Target: From our research we can not see what if any advantage the gravity well would offer over simply changing the re-target time to 1 minute. In fact, the gravity well would actually allow for more coins to be mined for a few minutes after a dramatic instant hash increase when compared to changing the difficulty re-target to 1 minute. The gravity well implementation would complicate things for us and cause issues with our Android wallet. Since both achieve the same desired result (ending multi-pool driven hash swings & coin dumps). We would like to travel down the path of least resistance. Built in Wallet Update Feature: Xploited had the best answer to this. Isn't the point of a crypto currency to avoid centralization? By implementing a single location that all wallets can update from we are also implementing a single point of failure to the network that could potentially be taken over by an attacker who could cripple the network. We want to make sure DigiByte will remain strong and resilient to attacks. Block Reward Increase: The idea of producing most of the coins right away and entering the deflation stage as soon as possible is very interesting to think about. However, at this point we feel there are several reasons why we should not go this route. Had we talked about this before we launched it might be a different story, but not now that we are way beyond launch. It would be very unethical and unprofessional of us to increase the block reward. This would cause an immediate decrease in price and as such it would be very discourteous to current investors. Some of which have invested several thousand dollars worth of Bitcoin into DigiByte. Another reason for not mining all the coins right away is mining itself. Mining keeps a coins network strong. In order to keep miners mining, they need coins to mine. Just look at Quark, many miners have jumped ship and the threat of a 51% attack from bot nets continues to increase. Miners should and do deserve to be incentived well into the future. Block Reward Decrease: We are not looking to do anything dramatic here. Instead we are looking for a solution that will benefit everyone. Miners, current investors and future investors. We will reduce the block reward by 0.5% every 7 days. This gives DigiByte over 20 years of profitable mining. A nice half percent decrease is much easier for people to calculate and for us to market. Reductions will occur on Fridays to give a slight psychological boost going into weekend trading. Examples: Two Fridays from now the first reduction will occur. It will go from 8000 DGB to 7960DGB Week: 1 Reward: 7960 Week: 2 Reward: 7920.2 Week: 3 Reward: 7880.599 Week: 4 Reward: 7841.196005
Right now segwit2x (BT2) is trading for $1143 and segwit1x (BT1) is $3070 on Bitfinex futures markets. Even with not the greatest terms, you would expect 2x to be much higher. I believe this bodes well for BCC. (61 points, 112 comments)
The other day people were suggesting we do an EDA change before the November 2x fork. Here is why I think that is a terrible idea, and why we should only consider EDA change AFTER the 2x fork. (58 points, 40 comments)
While /bitcoin was circle-jerking to the idea that no exchange would list the SW2x chain as BTC, Bitcoin Thailand's comment to the contrary was removed from the very same thread! (228 points, 70 comments)
By proving that it can be done (getting rid of Core) this will set a HUUGE precedent and milestone that dev teams and even outright censorship cannot overtake Bitcoin. That will be an extremely bullish occasionfor all crypto. (149 points, 84 comments)
The goal of all the forks appears to be to dilute investment in the true forks: Bitcoin Cash and Segwit2x. A sort of Scorched Earth approach by Blockstream. They are going to try to tear down Bitcoin as they get removed. (35 points, 11 comments)
In light of all these upcoming forks, we need a site where you can put in a BTC address and it checks ALL the forks and says which chains still have a balance for that address. This way you can split your coins and send coins carefully. (6 points, 6 comments)
Can we take a moment to appreciate Jeff Garzik for how much bullshit he has to deal with while working to give BTC a long-needed upgrade that Core has been blocking for so long? (278 points, 193 comments)
Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. (364 points, 292 comments)
Notice: Redditor for 3-4 months accounts or accounts that do not have a history of Bitcoin posts are probably the same person or just a few people paid to manipulate discussion here. It's likely a paid astroturfing campaign. (38 points, 30 comments)
The latest TED Radio Hour titled “Getting Organized” talks about the decentralized algorithms of ants and how centralization is not the most ideal state of an organization. (2 points, 0 comments)
BCC Miners, two EDAs have locked in. This will reduce mining difficulty to 64.00%. If you are aiming to achieve profit parity, you should start mining after the next EDA (in 2.5 hours), because then the difficulty will be at 51%, which gives profit parity on both chains and steady block rate. (9 points, 14 comments)
Antpool, Viabtc, Bitcoin.com, BTC.com, we need to hear your voice. In the case of a scheduled hardfork for updating the EDA, will your pool follow? (6 points, 18 comments)
Fact: proof of work which is the foundation of bitcoin and not invented by Adam back was designed to counter attacks where one person falsely represents to be many(like spam). Subreddits and twitter dont form the foundation of bitcoin for a reason. (156 points, 27 comments)
I'm a small blocker and I support the NYA (87 points, 46 comments)
Devs find clever way to add replay protection that doesn't change transaction format which would break software compatibility and cause disruption. G. Max responds by saying that this blacklisting is a sign of things to come. (49 points, 57 comments)
Five ways small blocks (AKA core1mb) hurt decentralization (36 points, 4 comments)
Even if bitcoins only use to society was avoiding negative interest rates, bail-ins + bail-outs, that is incredibly useful to society. Of course a banker like Jamie Dimon would call something a fraud that removes a "bank tax" on society by allowing them to avoid these fraudulent charges. (18 points, 0 comments)
There are different kinds of censorship. The core propagandists are unwittingly great advocates of economic censorship (2 points, 1 comment)
Everyone should calm down. The upgrade to 2x has 95%+ miner support and will be as smooth as a hot knife through butter. Anyone that says otherwise is fear monguring or listening to bitcoin propaganda. by Annapurna317 (364 points, 292 comments)
Coin : Quark Symbol : QRK Last price : average 0.00002027 ฿, 0.00006768 (24/H), 0.00001893 (24/L) Difficulty : average 685.17567540, 1,706.766365 (24/H), 140 As Quark is not encumbered by financial institutions, broken governments or crooked markets, it is free to breathe money-power into all communities without punitive interference. A Decentralized Currency: Quark is in the ownership of anyone who owns a part of a Quark coin. No one should have the exclusive right to centralize this currency under ... Also remember that this is only estimation. Results may differ because of many factors: network hashrate, calculation of the average mining difficulty, pool luck, orphan block, coin value change, individual cards performance etc. Quark Mining. Quark mining information - including a Quark mining calculator, a list of Quark mining hardware, Quark difficulty with historical charts, Quark hashrate charts, as well as the current Quark price. Name: Quark Symbol / Tag: QRK Logo: Genesis Block Created: Sunday, July 21, 2013 16:03:50 GMT Website Quark Wallet download : Github / Source Code: Github: Forum: Bitcointalk: Status ... While, mining Quark is not profitable using the Quark mining hardware hashrate and other information as of right now, however the blockchain is constantly growing and the Quark difficulty increase and decreases over time based on the network hashrate, so we recommend checking your mining profitability frequently.
Based on Quark CPU mining Descripción Specifications Based on Quark CPU mining About 460 billion coins 64 sec Block 65536 sec (about 18 hours and 1024 block ) change difficulty (maximum 10% up or ... Genesis Mining was founded in 2013 Butterfly labs, bitcoin block, block erupter, difficulty, asic miner, Bitcoin, how much will bitcoin difficulty increase, bitcoin mining, what is bitcoin ... The Bitcoin mining difficulty currently adjusts roughly every 2 weeks, while on other chains mining difficulty adjusts much more often. Why? Why does Bitcoin... This video details how to mine Quark coins for free without using any of you hardware. In this tutorial, we utilize Windows Azure's free trial to set up Virtual Machines, which mine for us. bitcoin Minner server No Cost Tested live https://twitter.com/imcodingmaster/status/970154530053570560 If one is attempting to minimize the probability of yo...