Category: #Wake Up, Neo

ASICs vs. SuperComputers

Asics
SuperComputers

ASICs vs Supercomputers

Assigning the most powerful supercomputer to mine bitcoin would be comparable to hiring a grandmaster chess player to move a pile of bricks by hand.

The job would get done eventually but the chess player is much better at thinking and playing chess than exerting energy to repetitively move bricks. 

Likewise, combining the computing power of the most powerful supercomputers in the world and using them to mine bitcoin would essentially be pointless when compared to the ASIC machines used today.

ASICs are designed to do one thing as quickly and efficiently as possible, whereas a supercomputer is designed to do complicated tasks or math problems.

Since Bitcoin mining is a lottery based on random trial and error rather than complex math, specialization (ASICs) beats general excellence (supercomputers) everytime.

End of Lesson !!!

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Welcome…

To the rabbit hole…

Why this crazyness with rabbits ?!? And their holes, you would ask ?!? Why is the rabbit hole so deep ?¿

And what does the rabbit hole has to do with that BitCorn thing  I keep hearing about all over the place ?¿

I like to start from the begining, as I think so I am 😋😂

Rabbit Hole is a play written by David Lindsay-Abaire. It was the recipient of the 2007 Pulitzer Prize for Drama. The play premiered on Broadway in 2006, and it has also been produced by regional theatres in cities such as Los Angeles, Philadelphia and Pittsburgh. The play had its Spanish language premiere in San Juan, Puerto Rico in Autumn of 2010.

The play deals with the ways family members survive a major loss, and includes comedy as well as tragedy. Cynthia Nixon won the 2006 Tony Award for Best Performance by a Leading Actress in a Play for her performance as Becca in the New York production, and the play was nominated for several other Tony awards.

Rabbit Hole

A situation, journey, or process that is particularly strange, problematic, difficult, complex, or chaotic, especially one that becomes increasingly so as it develops or unfolds.

An allusion to “Alice’s Adventures in Wonderland” by Lewis Carroll, it is used especially in the phrase “(go) down the rabbit hole.”

Overhauling the current tax legislation is a rabbit hole I don’t think this administration should go down at this point.I’ve stayed away from drugs and alcohol since coming to college. I have an addictive personality, so I decided to just avoid that rabbit hole altogether.

What does rabbit hole mean?

Used especially in the phrase going down the rabbit hole or falling down the rabbit hole, a rabbit hole is a metaphor for something that transports someone into a wonderfully (or troublingly) surreal state or situation.

On the internet, a rabbit hole frequently refers to an extremely engrossing and time-consuming topic.

Where does rabbit hole come from?

Alice falling down a hole with a jar in hand
Alice’s Adventures in WonderLand

Literally, a rabbit hole is what the animal digs for its home. The earliest written record of the phrase dates back to the 17th century. But the figurative rabbit hole begins with Lewis Carroll’s 1865 classic, Alice’s Adventures in Wonderland.

In its opening chapter, “Down the Rabbit-Hole,” Alice follows the White Rabbit into his burrow, which transports her to the strange, surreal, and nonsensical world of Wonderland.

Since then, Carroll’s rabbit hole has proved a popular and useful reference. The Oxford English Dictionary finds the first allusive rabbit hole in a 1938 edition of The Yale Law Journal: “It is the Rabbit-Hole down which we fell into the Law, and to him who has gone down it, no queer performance is strange.”

Over much of the 20th century, rabbit hole has been used to characterize bizarre and irrational experiences. It’s especially used to reference magical, challenging, and even dangerous places or positions, similar to Carroll’s topsy-turvy Wonderland.

Rabbit hole has many metaphorical applications—from frustrating red tape to the mind-bending complexity of science to hallucinations during altered states—all united by a common sense of passing into some labyrinthine, logic-defying realm that, once entered, is hard to get out of.

One can fall down the rabbit hole of government bureaucracy, healthcare, obtaining a green card, tax law, the political economy of modern Japan, puberty, college admissions, or quantum mechanics.

If you’re Neo in the hit film The Matrix, you can take the red pill—a pill that shows you the truth, as opposed to the blue pill, which keeps you in ignorance—and “see how deep the rabbit hole goes.”

In a related note, some people literally take pills and go down the rabbit hole of a psychedelic drug trip.

But as Kathryn Schulz observed for The New Yorker in 2015, rabbit hole has further evolved in the information age: “These days…when we say that we fell down the rabbit hole, we seldom mean that we wound up somewhere psychedelically strange. We mean that we got interested in something to the point of distraction—usually by accident, and usually to a degree that the subject in question might not seem to merit.”

Thanks to the abundance, variety, and instant access of content online, many fall down internet rabbit holes which are often spectacularly, and addictively, niche: scary stories, obscure conspiracy theories, or famous last meals, for instance.

Other rabbit holes tend to be opened up by specific services or social media, which serve users item after item, link after link: Wikipedia, Netflix, Amazon, Facebook, YouTube, and so forth.

These rabbit holes have become so common that people sometimes swap out rabbit for the name of the particular site, e.g. “I’ve fallen down an Instragram hole” or “I’m falling down a wikihole.”

Who uses rabbit hole?

From formal documents to internet status updates, rabbit hole is a very popular and widespread expression. Unlike earlier iterations of the metaphor, internet rabbit holes convey less a sense of weirdness, disorientation, or difficulty than they do of an intensely captivating diversion.

Rabbit hole is also showing increasing use as a modifier, e.g. a rabbit-hole question or phenomenon.

Now… that we have a basic and broader understanding about this Hole and it’s rabbit that digged it 😋😂

Let me show you a journey that I took to get to know, understand, admire, be amazed and support the BitCorn everybody is so crazy about …

Bitcoin Glossary

Block

Blocks are found in the Bitcoin blockchain. Blocks connect all transactions together. Transactions are combined into single blocks and are verified every ten minutes through mining. Each subsequent block strengthens the verification of the previous blocks, making it impossible to double spend bitcoin transactions (see double spend below).

BIP

Bitcoin Improvement Proposal or BIP, is a technical design document providing information to the bitcoin community, or describing a new feature for bitcoin or its processes or environment which affect the Bitcoin protocol. New features, suggestions, and design changes to the protocol should be submitted as a BIP. The BIP author is responsible for building consensus within the community and documenting dissenting opinions.

Blockchain

The Bitcoin blockchain is a public record of all Bitcoin transactions. You might also hear the term used as a “public ledger.” The blockchain shows every single record of bitcoin transactions in order, dating back to the very first one. The entire blockchain can be downloaded and openly reviewed by anyone, or you can use a block explorer to review the blockchain online.

Block Height

The block height is just the number of blocks connected together in the block chain. Height 0 for example refers to the very first block, called the “genesis block.”

Block Reward

When a block is successfully mined on the bitcoin network, there is a block reward that helps incentivize miners to secure the network. The block reward is part of a “coinbase” transaction which may also include transaction fees. The block rewards halves roughly every four years; see also “halving.”

Change

Let’s say you are spending $1.90 in your local supermarket, and you give the cashier $2.00. You will get back .10 cents in change. The same logic applies to bitcoin transactions. Bitcoin transactions are made up of inputs and outputs. When you send bitcoins, you can only send them in a whole “output.” The change is then sent back to the sender.

Cold Storage

The term cold storage is a general term for different ways of securing your bitcoins offline (disconnected from the internet). This would be the opposite of a hot wallet or hosted wallet, which is connected to the web for day-to-day transactions. The purpose of using cold storage is to minimize the chances of your bitcoins being stolen from a malicious hacker and is commonly used for larger sums of bitcoins.

Confirmation

A confirmation means that the bitcoin transaction has been verified by the network, through the process known as mining. Once a transaction is confirmed, it cannot be reversed or double spent. Transactions are included in blocks.

Cryptography

Cryptography is used in multiple places to provide security for the Bitcoin network. Cryptography, which is essentially mathematical and computer science algorithms used to encrypt and decrypt information, is used in bitcoin addresses, hash functions, and the blockchain.

Decentralized

Having a decentralized bitcoin network is a critical aspect. The network is “decentralized,” meaning that it’s void of a centralized company or entity that governs the network. Bitcoin is a peer-to-peer protocol, where all users within the network work and communicate directly with each other, instead of having their funds handled by a middleman, such as a bank or credit card company.

Difficulty

Difficulty is directly related to Bitcoin mining (see mining below), and how hard it is to verify blocks in the Bitcoin network. Bitcoin adjusts the mining difficulty of verifying blocks every 2016 blocks. Difficulty is automatically adjusted to keep block verification times at ten minutes.

Double Spend

If someone tries to send a bitcoin transaction to two different recipients at the same time, this is double spending. Once a bitcoin transaction is confirmed, it makes it nearly impossible to double spend it. The more confirmations that a transaction has, the harder it is to double spend the bitcoins.

Full Node

A full node is when you download the entire blockchain using a bitcoin client, and you relay, validate, and secure the data within the blockchain. The data is bitcoin transactions and blocks, which is validated across the entire network of users.

Halving

Bitcoins have a finite supply, which makes them scarce. The total amount that will ever be issued is 21 million. The number of bitcoins generated per block is decreased 50% every four years. This is called “halving.” The final halving will take place in the year 2140.

Hash Rate

The hash rate is how the Bitcoin mining network processing power is measured. In order for miners to confirm transactions and secure the blockchain, the hardware they use must perform intensive computational operations which is output in hashes per second.

Hash (txid)

A transaction hash (sometimes referred to as a transaction ID or txid) is a unique identifier that can be used on any block explorer to look up all of the public details of a particular transaction. Every on-chain transaction has a unique hash made up of a long string of alphanumeric characters.

Mining

Bitcoin mining is the process of using computer hardware to do mathematical calculations for the Bitcoin network in order to confirm transactions. Miners collect transaction fees for the transactions they confirm and are awarded bitcoins for each block they verify.

Pool

As part of bitcoin mining, mining “pools” are a network of miners that work together to mine a block, then split the block reward among the pool miners. Mining pools are a good way for miners to combine their resources to increase the probability of mining a block, and also contribute to the overall health and decentralization of the bitcoin network.

Private Key

A private key is a string of data that shows you have access to bitcoins in a specific wallet. Think of a private key like a password; private keys must never be revealed to anyone but you, as they allow you to spend the bitcoins from your bitcoin wallet through a cryptographic signature.

Proof of Work

Proof of work refers to the hash of a block header (blocks of bitcoin transactions). A block is considered valid only if its hash is lower than the current target. Each block refers to a previous block adding to previous proofs of work, which forms a chain of blocks, known as a blockchain. Once a chain is formed, it confirms all previous Bitcoin transactions and secures the network.

Public Address

A public bitcoin address is cryptographic hash of a public key. A public address typically starts with the number “1.” Think of a public address like an email address. It can be published anywhere and bitcoins can be sent to it, just like an email can be sent to an email address.

RBF

RBF stands for Replace By Fee, and refers to a method that allows a sender to replace a “stuck” or unconfirmed transaction with a new one that uses a higher fee. This is done to make sure a transaction confirms as quickly as possible. The “replacement” transaction uses the same inputs as the original one. This is not considered a double spend, as the receiving address(es) typically remain the same.

Satoshi Nakamoto

Bitcoin’s existence began with an academic paper written in 2008 by a developer under the name of Satoshi Nakamoto. Satoshi is the name used as the original inventor of Bitcoin.

Transaction

A transaction is when data is sent to and from one bitcoin address to another. Just like financial transactions where you send money from one person to another, in bitcoin you do the same thing by sending data (bitcoins) to each other. Bitcoins have value because it’s based on the properties of mathematics, rather than relying on physical properties (like gold and silver) or trust in central authorities, like fiat currencies. 

Wallet

Just like with paper dollars you hold in your physical wallet, a bitcoin wallet is a digital wallet where you can store, send, and receive bitcoins securely. There are many varieties of wallets available, whether you’re looking for a web or mobile solution. Ideally, a bitcoin wallet will give you access to your public and private keys. This means that only you have rightful access to spend these bitcoins, whenever you choose to.

Sources:

https://dictionary.com/

https://wikipedia.com/

https://blockchain.com/

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P.O.W In Human History

Proof Of Work

in the

History of Humankind

Great Pyramid of Giza (a.k.a)
Pyramid of Khu
Egypt

The Great Pyramid of Giza (also known as the Pyramid of Khufu or the Pyramid of Cheops) is the oldest and largest of the  pyramids in the Giza pyramid complex  bordering present-day Giza  in Greater Cairo, Egypt.

It is the oldest of the Seven Wonders of the Ancient World, and the only one to remain largely intact.

Egyptologists conclude that the pyramid was built as a tomb for the Fourth Dynasty  Egyptian pharaoh Khufu and estimate that it was built in the 26th century BC during a period of around 27 years.

Initially standing at 146.5 metres (481 feet), the Great Pyramid was the tallest man-made structure in the world for more than 3,800 years.

Over time, most of the smooth white limestone casing was removed, which lowered the pyramid’s height to the present 138.5 metres (454.4 ft).

What is seen today is the underlying core structure. The base was measured to be about 230.3 metres (755.6 ft) square, giving a volume of roughly 2.6 million cubic metres (92 million cubic feet), which includes an internal hillock.

The dimensions of the pyramid were 280 royal cubits (146.7 m; 481.4 ft) high, a base length of 440 cubits (230.6 m; 756.4 ft), with a seked of 5+1/2 palms (a slope of 51°50’40”).

The Great Pyramid was built by quarrying an estimated 2.3 million large blocks weighing 6 million tonnes total.

The majority of stones are not uniform in size or shape and are only roughly dressed.The outside layers were bound together by mortar.

Primarily local limestone from the Giza Plateau was used. Other blocks were imported by boat down the Nile: White limestone from Tura for the casing, and granite blocks from Aswan, weighing up to 80 tonnes, for the King’s Chamber structure.

There are three known chambers inside the Great Pyramid. The lowest was cut into the bedrock, upon which the pyramid was built, but remained unfinished. The so-called Queen’s Chamber and King’s Chamber, that contains a granite sarcophagus, are higher up, within the pyramid structure. Khufu’s vizier, Hemiunu (also called Hemon), is believed by some to be the architect of the Great Pyramid.

Many varying scientific and alternative hypotheses attempt to explain the exact construction techniques.

The funerary complex around the pyramid consisted of two mortuary temples  connected by a causeway (one close to the pyramid and one near the Nile), tombs for the immediate family and court of Khufu, including three smaller pyramids for Khufu’s wives, an even smaller “satellite pyramid” and five buried solar barges.

Flavian Amphitheatre
a.k.a Colloseum
Rome – Italy

The Colosseum (Colosseo[kolosˈsɛːo]) is an oval amphitheatre in the centre of the city of Rome, Italy, just east of the Roman Forum.

It is the largest ancient amphitheatre ever built, and is still the largest standing amphitheatre in the world today, despite its age.

Construction began under the emperor Vespasian (r. 69–79 AD) in 72 and was completed in 80 AD under his successor and heir, Titus (r. 79–81).

Further modifications were made during the reign of Domitian (r. 81–96).

The three emperors that were patrons of the work are known as the Flavian dynasty, and the amphitheatre was named the Flavian Amphitheatre (Latin: Amphitheatrum Flavium; Italian: Anfiteatro Flavio[aɱfiteˈaːtro ˈflaːvjo]) by later classicists and  archaeologists for its association with their family name (Flavius).

The Colosseum is built of travertine limestone, tuff (volcanic rock), and brick-faced concrete.

The Colosseum could hold an estimated 50,000 to 80,000 spectators at various points in its history  having an average audience of some 65,000; it was used for gladiatorial  contests and  public spectacles including  animal hunts, executions, re-enactments of famous battles, and dramas based on Roman mythology, and briefly mock sea battles.

The building ceased to be used for entertainment in the early medieval era.

It was later reused for such purposes as housing, workshops, quarters for a religious order, a fortress, a quarry, and a Christian shrine.

Although substantially ruined because of earthquakes and stone-robbers (for spolia), the Colosseum is still an iconic symbol of Imperial Rome and was listed as one of the New 7 Wonders of the World.

It is one of Rome’s most popular tourist attractions and also has links to the Roman Catholic Church, as each Good Friday  the Pope leads a torchlit “Way of the Cross” procession that starts in the area around the Colosseum.

The Colosseum is also depicted on the Italian version of the five-cent euro coin.

The Ming dynasty
Great Wall
at Jinshanling

The Great Wall of China (traditional Chinese: 萬里長城; simplified Chinese: 万里长城; pinyin: Wànlǐ Chángchéng) is a series of fortifications that were built across the historical northern borders of ancient Chinese states and Imperial China as protection against various nomadic groups from the Eurasian Steppe.

Several walls were built from as early as the 7th century BC,with selective stretches later joined together by Qin Shi Huang  (220–206 BC), the first emperor of China.

Little of the Qin wall remains. Later on, many successive dynasties built and maintained multiple stretches of border walls. The best-known sections of the wall were built by the Ming dynasty (1368–1644).

Apart from defense, other purposes of the Great Wall have included border controls, allowing the imposition of duties on goods transported along the Silk Road, regulation or encouragement of trade and the control of immigration and emigration.

Furthermore, the defensive characteristics of the Great Wall were enhanced by the construction of watchtowers, troop barracks, garrison stations, signaling capabilities through the means of smoke or fire, and the fact that the path of the Great Wall also served as a transportation corridor.

The frontier walls built by different dynasties have multiple courses. Collectively, they stretch from Liaodong in the east to Lop Lake in the west, from the present-day Sino–Russian border in the north to Tao River (Taohe) in the south; along an arc that roughly delineates the edge of the Mongolian steppe; spanning 21,196.18 km (13,170.70 mi) in total.

Today, the defensive system of the Great Wall is generally recognized as one of the most impressive architectural feats in history.

As history has left behind, monumental architectural constructions that we can admire and reamain in awe as we look at them, after thousands of years since the first stone was put, in today’s world our digital PoW can be seen and admired the same as the Great Wall of China or the Piramid of Giza !!!

Wich brings us to the question, what is Free talking about ?!?

Long Live the CypherPunks
CypherPunks Write Code
Genesis
Bitcoin Genesis Block
Mined 03 January 2009
The Times
January 3, 2009
Bitcoin – Proof Of Work


Bitcoin-type Proof Of Work

In 2009, the Bitcoin network went online. Bitcoin is a proof-of-work digital currency that, like Finney’s RPoW, is also based on the Hashcash PoW.

But in Bitcoin, double-spend protection is provided by a decentralized P2P protocol for tracking transfers of coins, rather than the hardware trusted computing function used by RPoW.

Bitcoin has better trustworthiness because it is protected by computation. Bitcoins are “mined” using the Hashcash proof-of-work function by individual miners and verified by the decentralized nodes in the P2P bitcoin network.

The difficulty is periodically adjusted to keep the block time around a target time.

Since the creation of Bitcoin, proof-of-work has been the predominant design of peer-to-peer cryptocurrency. Studies have estimated the total energy consumption of cryptocurrency mining.

The PoW mechanism requires a vast amount of computing resources, which consume a significant amount of electricity. Recent estimates from the University of Cambridge put Bitcoin’s energy consumption as equal to that of Switzerland.

History modification

Each block that is added to the blockchain, starting with the block containing a given transaction, is called a confirmation of that transaction.

Ideally, merchants and services that receive payment in the cryptocurrency should wait for at least one confirmation to be distributed over the network, before assuming that the payment was done.

The more confirmations that the merchant waits for, the more difficult it is for an attacker to successfully reverse the transaction in a blockchain—unless the attacker controls more than half the total network power, in which case it is called a 51% attack.

2ASICs and mining pools

Within the Bitcoin community there are groups working together in mining pools.

Some miners use application-specific integrated circuits (ASICs) for PoW. This trend toward mining pools and specialized ASICs has made mining some cryptocurrencies economically infeasible for most players without access to the latest ASICs, nearby sources of inexpensive energy, or other special advantages.

Some PoWs claim to be ASIC-resistant,  i.e. to limit the efficiency gain that an ASIC can have over commodity hardware, like a GPU, to be well under an order of magnitude.

ASIC resistance has the advantage of keeping mining economically feasible on commodity hardware, but also contributes to the corresponding risk that an attacker can briefly rent access to a large amount of unspecialized commodity processing power to launch a 51% attack against a cryptocurrency.

Plant the Seed
The choice is Yours
Choose Wisely
The Choice is Yours
With 💚

Veritas … In pictures…

Fear is Sickness
Gold is Money…
Uni-Verse
Success
Genes that erase memories
Researches can erase painful memories from the brain
Scientists deletes “Fearful” memories of Rats
Pokemon Go users give away all privacy rights
“Broken People” = Raw  Material
Robert Noyce
Compounding Interest
Simple & Compound Interest Formula
Simple Interest & Compound Interest
PBIS Rewards
ROI – Return On Investment
Play the role of a fool…
Occult – Anatomy
20 Fastest Growing + Declining Jobs
Causes and Effects of Inflation
The History of Logistics
SSG 16.9 – Legal Identity for all
Scientists call for Protection from Non-Ionizing Electromagnetic Field Exposure
Protest’s are Illegal and punished with Jail Time in a “Free” Society !!!?¿!!!
Human Value Chain
Opposition to the use of Blockchain Identity – Part 1
Opposition to the use of Blockchain Identity – Part 2
Human Capital Performance Bond
Strategies for Investing in Undervalued Human Capital
U.S Army TRADOC G-2
Digitizing Government-to-Person (G2P) Payments

Will be Always Updated !!!

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Bitcoin Mining – Where the Profitable Future Lies

The Times – January 3, 2009
Bitcoin Genesis Block
Mined 03 January 2009
Cypherpunks Write Code
CODE IS LAW
THE SOONER HUMANKIND ACCEPTS IT,
THE SOONER IT CAN BUILD AROUND IT
Yeah.. I wonder Why 😂
Bitcoin made easy
How a Bitcoin transaction works
A humble Miner
How Bitcoin Mining Works
Mining Difficulty
Bitcoin Halving
Bitcoin Previous Halvings
Pools
Bitcoin Wallets
Bitcoin Stakeholders
Bitcoin Facts
Power to the People
Totalitarian Governments can kiss my 256-bit key
Bitcoin – People’s Money
Bitcoin cannot be Shut Down
The power of the long tail…
Central Bank’s 3 Strategies
F**k them, Enough !!!
Upcoming Smart Contracts Networks
Bitcoin Yearly Candles
Bitcoin Price History – Log Scale
Bitcoin Mining Ecosystem Map
Defi Ecosystem in Ethereum
DeFi Stack: Product& Application View
Syscoin Ecosystem
Syscoin
BSC Ecosystem
Popular Cryptocurrency
Crpto Ecosystem
Public Companies that own Bitcoin
Top Banks investing in Crypto
Bitcoin Inflation vs. Time
When you’re Ready…
Choose Wisely
Make bitcoin thrive, let fiat become humus…
Veritas non Auctoritas
Facit Legem

Most people misunderstand what bitcoin miners actually do, and as a result they don’t fully grasp the level of security provided by bitcoin’s hashrate.

In this article, we’ll explain proof of work in a non-technical way so that you’ll be able to counter the misinformation about supercomputers and quantum computers attacking the Bitcoin network in the future. 

Simply put, mining is a lottery to create new blocks in the Bitcoin blockchain. There are two main purposes for mining:

  1. To permanently add transactions to the blockchain without the permission of any entity.
  2. To fairly distribute the 21 million bitcoin supply by rewarding new coins to miners who spend real world resources (i.e. electricity) to secure the network.

To understand what is actually happening in this lottery system, let’s look at a simple analogy where every Bitcoin hash is equivalent to a dice roll.

Luck, Gambling, and SHA-256

Imagine that miners in the Bitcoin Network are all individuals gambling at a casino. In this example, each of these gamblers have a 1000 sided dice. They roll their die as quickly as possible, trying to get a number less than 10. Statistically, this may take a very long time, but as more gamblers join the game, the time it takes to hit a number less than 10 gets reduced. In short, more gamblers equals quicker rounds.

Once somebody successfully rolls a number less than 10, all gamblers at the table can look down and verify the number. This lucky gambler takes the prize money and the next round begins.

Ultimately, the process of mining bitcoin is very similar. All miners on the network are using Application Specific Integrated Circuits (ASICs), which are specialized computers designed to compute hashes as quickly as possible.

To “compute a hash” simply means plugging any random input into a mathematical function and producing an output.

More hashes per second (i.e. higher hashrate) is equivalent to more dice rolls per second, and thus a greater probability of success.

Miners propose a potential Bitcoin block of transactions, and use this for an input. The block is plugged into the SHA256 hash function which yields a fixed-sized output, known as a hash. A single hash can be computed in less than a millisecond, as it involves no complex math.

If the hash value is lower than the Bitcoin Network difficulty, then the miner who proposed the block wins. If not, then the miner continues trying by computing more hashes.

The successful miner’s block is then added to the blockchain, the miner is rewarded with newly issued bitcoin for their work, and the “next round” begins.

Sources :

https://wikipedia.com/

https://braiins.com/

https://blockdata.com/

https://coin98analytics.com/

https://scoopwhoop.com/

https://stakingrewards.com/

https://syscoin.org/

https://galaxydigitalresearch.com/

https://surveycrest.com/

The Times

The Economist

"Internet of Money" - Andreas Antonopoulus

Hal Finney Quotes

Timothy C. May Quote

Free Spirit Digital Art

!°! If I forgot someone, sorry ! Do tell and I'll add you as a source of inspiration on the list !!! Thanks for understanding !!!

Questions, opinions, critics and requests always welcomed and as time allows will be accomodated !!! 🤓 🙂 😉

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If so, please consider a donation to help the evolution and development of more helpful articles in the future, and show your support for alternative articles.

Your generosity is 💚 ly appreciated

You can donate in any crypto your 💚 desires 😊

Thank you all for your time !!!

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Bitcoin (BTC) :

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


LiteCoin(LTC) :

LYAdiSpsTJ36EWCJ5HF9EGy9iWGCwoLhed


Ethereum(ETH) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


EthereumClassic(ETC) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


Cardano(ADA) :

addr1q88c5cccnrqy6xesszzvf7rd4tcz87klt0m0h6uvltywqe8txwmsrrqdnpq27594tyn9vz59zv0n8367lvyc2atvrzvqlvdm9d


BinanceCoin(BNB) :

bnb1wwfnkzs34knsrv2g026t458l0mwp5a3tykeylx


BitcoinCash (BCH)

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


Bitcoin SV (BSV)

1P1tTNFGRZabK65RhqQxVmcMDHQeRX9dJJ


ZCash(ZEC) :

t1fSSQX4gEhove9ngcvFafQaMPq5dtNNsNF


Dash(DASH) :

XcWmbFw1VmxEPxvF9CWdjzKXwPyDTrbMwj


Shiba(SHIB) :

0x602e8Ca3984943cef57850BBD58b5D0A6677D856


Tron(TRX) :

TCsJJkqt9xk1QZWQ8HqZHnqexR15TEowk8


Stellar(XLM) :

GBL4UKPHP2SXZ6Y3PRF3VRI5TLBL6XFUABZCZC7S7KWNSBKCIBGQ2Y54

A world where anything is possible…
The choice is yours People !!!
With 💚
The other 6 Billion

Free Spirit’s Wondering…

Some moments of my online wondering…

R&D, wisdom, knowledge, curiosities, answers and many more questions 🙂🤣🙃

You have a Choice !!!
Power to the People !!!
Wake the F… Up !!!
No more excuses, you have a choice now !!!
WHO as in WORLD HEALTH ORGANISATION
P F I Z E R  Insider
Poem of the Legacy
Being Curious…
Of course it doesn’t comply…
The Problem with centralized Social-Media
10 Principles of Strategic Leadership
Global Reserve Currency
Psychology of a Market Cycle
Success
Success
Triangle of Success
Don’t plan for travelling when old…😋😳😋
Be like a Tree…
If anyone understands this please enlighten me too 😊🤭🤗
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F I A T

Fiat money (from Latin: fiat, “let it be done”) is a type of money that is not backed by any commodity such as gold or silver, and typically declared by a decree from the government to be legal tender.

Throughout history, fiat money was sometimes issued by local banks and other institutions.

In modern times, fiat money is generally established by government regulation.

Yuan dynasty banknotes are a medieval form of fiat money.

Fiat money does not have intrinsic value and does not have use value.

It has value only because the people who use it as a medium of exchange agree on its value.

They trust that it will be accepted by merchants and other people.

Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains a precious metal such as gold or silver which is embedded in the coin.

Fiat also differs from representative money, which is money that has intrinsic value because it is backed by and can be converted into a precious metal or another commodity.

Fiat money can look similar to representative money (such as paper bills), but the former has no backing, while the latter represents a claim on a commodity (which can be redeemed to a greater or lesser extent).

Government-issued fiat money banknotes  were used first during the 11th century in China.

Fiat money started to predominate during the 20th century. Since President Richard Nixon‘s decision to default on the US dollar convertibility to gold in 1971, a system of national fiat currencies has been used globally.

Fiat money can be:

  • Any money that is not backed by a commodity.
  • Money declared by a person, institution or government to be legal tender,  meaning that it must be accepted in payment of a debt in specific circumstances.
  • State-issued money which is neither convertible through a central bank to anything else nor fixed in value in terms of any objective standard.
  • Money used because of government decree.
  • An otherwise non-valuable object that serves as a medium of exchange (also known as fiduciary money.)

The term fiat derives from the Latin word fiat, meaning “let it be done”[10] used in the sense of an order, decree[2] or resolution.[11]

The word “FꟾAT”, with a long I and an A–T ligature.
“Gold Is Money” – J.P Morgan, 1912
Issue and Control a Nation’s Money… M.A. Rothschild
Andreeas Antonopoulos
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Knowledge Quotes I 💚

Knowledge is Wealth…

“Books permit us to voyage through time, to tap the wisdom of our ancestors.

The library connects us with the insight and knowledge, painfully extracted from Nature, of the greatest minds that ever were, with the best teachers, drawn from the entire planet and from all our history, to instruct us without tiring, and to inspire us to make our own contribution to the collective knowledge of the human species.

I think the health of our civilization, the depth of our awareness about the underpinnings of our culture and our concern for the future can all be tested by how well we support our libraries.”

Carl Sagan,
“Cosmos”

“The only true Wisdom is in knowing you know nothing.”

Socrates

“Any fool can know.

The point is to understand.”

Albert Einstein

“No thief, however skillful, can rob one of knowledge, and that is why knowledge is the best and safest treasure to acquire.”

L. Frank Baum, The Lost Princess of Oz 

“The man of knowledge must be able not only to love his enemies but also to hate his friends.“

Friedrich Nietzsche

“The Seven Social Sins are:

Wealth without work.
Pleasure without conscience.
Knowledge without character.
Commerce without morality.
Science without humanity.
Worship without sacrifice.
Politics without principle.”

From a sermon given by Frederick Lewis Donaldson in Westminster Abbey, London, on March 20, 1925.

Frederick Lewis Donaldson

“Reading furnishes the mind only with materials of knowledge; it is thinking that makes what we read ours.”

John Locke

“Great minds are always feared by lesser minds.”

Dan Brown,
“The Lost Symbol (Robert Langdon, #3)”

“I cannot teach anybody anything. I can only make them think.”

Socrates

“Confidence is ignorance.

If you’re feeling cocky, it’s because there’s something you don’t know.”

Eoin Colfer,
“Artemis Fowl”

“The greatest enemy of knowledge is not ignorance, it is the illusion of knowledge.”

Daniel J. Boorstin

“For me, I am driven by two main philosophies: know more today about the world than I knew yesterday and lessen the suffering of others.

You’d be surprised how far that gets you.”

Neil deGrasse Tyson

“Your assumptions are your windows on the world.

Scrub them off every once in a while, or the light won’t come in.”

Isaac Asimov

“For me, it is far better to grasp the Universe as it really is than to persist in delusion, however satisfying and reassuring.”

Carl Sagan,
“The Demon-Haunted World: Science as a Candle in the Dark”

“I mean, you could claim that  anything’s real if the only basis for believing in it is that nobody’s proved it doesn’t exist!”

J.K. Rowling

“Knowledge, like air, is vital to life.

Like air, no one should be denied it.”

Alan Moore,
“V for Vendetta”

“I have a friend who’s an artist and has sometimes taken a view which I don’t agree with very well.

He’ll hold up a flower and say “look how beautiful it is,” and I’ll agree.

Then he says “I as an artist can see how beautiful this is but you as a scientist take this all apart and it becomes a dull thing,” and I think that he’s kind of nutty.

First of all, the beauty that he sees is available to other people and to me too, I believe.

Although I may not be quite as refined aesthetically as he is …

I can appreciate the beauty of a flower.

At the same time, I see much more about the flower than he sees.

I could imagine the cells in there, the complicated actions inside, which also have a beauty.

I mean it’s not just beauty at this dimension, at one centimeter; there’s also beauty at smaller dimensions, the inner structure, also the processes.

The fact that the colors in the flower evolved in order to attract insects to pollinate it is interesting; it means that insects can see the color.

It adds a question: does this aesthetic sense also exist in the lower forms?

Why is it aesthetic?

All kinds of interesting questions which the science knowledge only adds to the excitement, the mystery and the awe of a flower.

It only adds.

I don’t understand how it subtracts.”

Richard P. Feynman,
“The Pleasure of Finding Things Out: The Best Short Works of Richard P. Feynman”

“It takes a very long time to become young.”

Pablo Picasso

“The eye sees only what the mind is prepared to comprehend.”

Robertson Davies,
“Tempest-Tost” (Salterton Trilogy, #1)

“Beware of the man who works hard to learn something, learns it, and finds himself no wiser than before.”

Kurt Vonnegut,
“Cat’s Cradle”

“I am an atheist, out and out. It took me a long time to say it.

I’ve been an atheist for years and years, but somehow I felt it was intellectually unrespectable to say one was an atheist, because it assumed knowledge that one didn’t have.

Somehow, it was better to say one was a humanist or an agnostic.

I finally decided that I’m a creature of emotion as well as of reason.

Emotionally, I am an atheist.

I don’t have the evidence to prove that God doesn’t exist, but I so strongly suspect he doesn’t that I don’t want to waste my time.”

Isaac Asimov

“An investment in knowledge always pays the best interest.”

Benjamin Franklin,
“The Way to Wealth: Ben Franklin on Money and Success”

“What is now proved was once only imagined.”

William Blake

“Few people are capable of expressing with equanimity opinions which differ from the prejudices of their social enviroment.

Most people are incapable of forming such opinions.”

(Essay to Leo Baeck, 1953)

Albert Einstein

“Ignorance more frequently begets confidence than does knowledge: it is those who know little, not those who know much, who so positively assert that this or that problem will never be solved by science.”

Charles Darwin,
“The Descent of Man”

“The hardest thing of all is to find a black cat in a dark room, especially if there is no cat.”

Confucius

“I can calculate the motion of heavenly bodies but not the madness of people.”

Isaac Newton

“Knowing is not enough; we must apply. Willing is not enough; we must do.”

Johann Wolfgang von Goethe

“The time will come when diligent research over long periods will bring to light things which now lie hidden.

A single lifetime, even though entirely devoted to the sky, would not be enough for the investigation of so vast a subject…

And so this knowledge will be unfolded only through long successive ages.

There will come a time when our descendants will be amazed that we did not know things that are so plain to them…

Many discoveries are reserved for ages still to come, when memory of us will have been effaced.”

Seneca,
“Natural Questions”

“The knowledge of all things is possible.”

Leonardo da Vinci

“To know that you do not know is the best.

To think you know when you do not is a disease.

Recognizing this disease as a disease is to be free of it.”

Lao Tzu

“What transforms this world is — knowledge.

Do you see what I mean?

Nothing else can change anything in this world.

Knowledge alone is capable of transforming the world, while at the same time leaving it exactly as it is.

When you look at the world with knowledge, you realize that things are unchangeable and at the same time are constantly being transformed.”

Yukio Mishima,
“The Temple of the Golden Pavilion”

“Doubt … is an illness that comes from knowledge and leads to madness.”

Gustave Flaubert,
“Memoirs of a Madman”

“Information is not knowledge.”

Albert Einstein

“The happiness of the drop is to die in the river.”

Imam Al-Ghazali

“Knowledge is a treasure, but practice is the key to it.”

Lao Tzu

“Belief can be manipulated. Only knowledge is dangerous.”

Frank Herbert

“No, our science is no illusion.

But an illusion it would be to suppose that what science cannot give us we can get elsewhere.”

Sigmund Freud,
“The Future of an Illusion”

“Nothing that is worth knowing can be taught.”

Oscar Wilde

“I had to deny knowledge in order to make room for faith.”

Immanuel Kant,
“Critique of Pure Reason”

“The advancement of science and the diffusion of information [is] the best aliment to true liberty.”

James Madison

“There are in fact two things, science and opinion; the former begets knowledge, the latter ignorance.”

Hippocrates

“Let us tenderly and kindly cherish therefore, the means of knowledge.

Let us dare to read, think, speak, and write .”

John Adams, 
“The Works Of John Adams”, Second President Of The United States

“Those who know nothing of foreign languages know nothing of their own.”

Johann Wolfgang von Goethe,
“Maxims and Reflections”

“How little we know of what there is to know.

I wish that I were going to live a long time instead of going to die today because I have learned much about life in these four days; more, I think than in all other time.

I’d like to be an old man to really know.

I wonder if you keep on learning or if there is only a certain amount each man can understand.

I thought I knew so many things that I know nothing of.

I wish there was more time.”

Ernest Hemingway, 
“For Whom The Bell Tolls“

“Timendi causa est nescire –

Ignorance is the cause of fear.”

Lucius Annaeus Seneca,
“Natural Questions“

“The way of success is the way of continuous pursuit of knowledge.”

Napoleon Hill,
“Think and Grow Rich”

“All knowledge that is about human society, and not about the natural world, is historical knowledge, and therefore rests upon judgment and interpretation.

This is not to say that facts or data are nonexistent, but that facts get their importance from what is made of them in interpretation… for interpretations depend very much on who the interpreter is, who he or she is addressing, what his or her purpose is, at what historical moment the interpretation takes place.”

Edward Said

“Scientia potentia est.

Knowledge is power.”

Thomas Hobbes,
“Leviathan”

“Ipsa scientia potestas est.”

Knowledge itself is power.

Francis Bacon,
“Meditations Sacrae and Human Philosophy Meditations Sacrae and Human Philosophy”

“The only defense against the world is a thorough knowledge of it.”

John Locke,
“Some Thoughts Concerning Education”

“All sciences are vain and full of errors that are not born of Experience, the mother of all Knowledge.”

Leonardo da Vinci
“Leonardo’s Notebooks”

“Share your knowledge.

It is a way to achieve immortality.”

Dalai Lama XIV

“Truth, like gold, is to be obtained not by its growth, but by washing away from it all that is not gold.”

Leo Tolstoy

“To know that we know what we know, and to know that we do not know what we do not know, that is true knowledge.”

Nicolaus Copernicus

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Syscoin is a decentralized and open source project founded in 2014 by the founders of Blockchain Foundry, who remain Syscoin’s core developers. The core project has been guided by Syscoin Foundation since 2019.

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The Syscoin Foundation is the official body representing Syscoin Platform. The board is broadly responsible for the growth and adoption of the platform, and its members play a guiding and steering role in its development.

Jag Sidhu
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Michiel
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No more excuses !!!

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Choose Wisely

” Popular crowdfunding platform GoFundMe blocked the fundraising efforts of the Canadian trucker convoy Friday, preventing its receipt of $10 million in donations, claiming the movement violated its terms of service.”

Down bellow you have a few sources for your choice !!!

It was the people’s choice to spend their hard earned cash for the people that march for F R E E D O M !!!

Here is your system you trust your hard earned money with !!!

https://www.nationalreview.com/news/gofundme-blocks-10-million-in-donations-to-canadian-trucker-convoy/

https://www.businessinsider.com/gofundme-blocks-donations-freedom-convoy-trump-elon-musk-canada-vaccine-2022-2?op=1&r=US&IR=T

https://www.businessinsider.com/gofundme-blocks-donations-freedom-convoy-trump-elon-musk-canada-vaccine-2022-2?op=1&r=US&IR=T

https://nypost.com/2022/02/05/canadian-anti-vax-truckers-has-millions-in-donations-blocked-by-gofundme/

https://gellerreport.com/2022/02/gofundme-steals-10-million-in-donations-from-truckers.html/

https://www.theglobeandmail.com/canada/article-gofundme-scuttles-campaign-for-trucker-convoy-stops-release-of-10/

https://www.foxbusiness.com/technology/gofundme-backtracks-canadian-trucker-money-fraud-investigation-threat

https://justthenews.com/nation/technology/gofundme-cancels-10-million-canadian-trucker-fund-claiming-protest-now-occupation

https://www.washingtonexaminer.com/news/gofundme-account-for-canada-anti-vaccine-mandate-truckers-nears-10-million-mark


etc… etc… etc…

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Staking Vs. Yield Farming Vs. Liquidity Mining

staking-vs-yield-farming-vs-liquidity-mining

Staking Vs. Yield Farming Vs. Liquidity Mining – Key Differences

The DeFi space is growing, and there is no reason to deny it. Enterprises and individuals want to capitalize on the benefits of decentralized finance with the newly emerging solutions. Decentralized finance has not only opened up the possibilities for improved financial inclusion throughout the world but also strengthened the possibilities for using and managing digital assets.

The most notable factor which comes up in discussions about DeFi trading would refer to the staking vs. yield farming vs. liquidity mining differences.

All three of them are popular solutions in the domain of DeFi for obtaining plausible returns on crypto assets.

The three approaches differ in the way participants have to pledge their crypto assets in decentralized protocols or applications. 

In addition, the underlying technologies also provide further indications of differences between staking and the other two approaches.

Understanding Yield Farming

The first thing that you should take into account about yield farming is its definition. Yield generation is a popular approach for obtaining returns on crypto assets.

Basically, it offers a flexible approach for earning passive income through depositing crypto assets in a liquidity pool.

The liquidity pools in the case of yield farming could refer to bank accounts in the conventional sense.

Yield generation is the practice that involves investors locking in their crypto assets in liquidity pools based on smart contracts.

The assets locked in the liquidity pools are available for other users to borrow in the same protocol. 

Yield farming is a crucial aspect of the DeFi ecosystem as it supports the foundation of DeFi protocols for enabling exchange and lending services.

It is also essential for maintaining the liquidity of crypto assets on different decentralized exchanges or DEXs.

Yield farmers could also earn rewards in the form of APY. 

Working of Yield Generation

In order to develop a better impression of yield generation in staking vs. yield farming vs. liquidity mining, it is important to understand how to yield generation works. First of all, it is important to note that Automated Market Makers or AMMs are responsible for yield farming. 

AMMs are just smart contracts that leverage mathematical algorithms for enabling  digital asset trading.

Automated Market Makers play a highly critical role in yield farming for maintaining consistent liquidity as the transactions do not need any counterparties for the transaction.

You could find two distinct components in AMMs such as liquidity pools and liquidity providers. 

Liquidity pools are basically the smart contracts that drive the DeFi ecosystem. The pools include digital assets which can help users in purchasing, selling, borrowing, lending, and swapping tokens.

Liquidity providers are the users or investors who have locked their assets in the liquidity pool.

Yield farming also offers a plausible foundation for easier trading of tokens with low trading volume in the open market. 

Risks in Yield Farming

The understanding of staking vs. yield farming vs. liquidity mining can only get better with an awareness of risks with each.

It is important to note that yield generation offers high risk and high reward ventures for investment.

The notable risks with yield farming include impermanent loss, smart contract risk, composability risk, and liquidation risk.   

Understanding Staking

The second important entry in a debate on staking vs. yield farming vs. liquidity mining would obviously bring another notable and common consensus algorithm. Staking is basically an interesting way of pledging crypto assets as collateral in the case of blockchain networks leveraging the Proof-of-Stake algorithm. Just like miners use computational power for achieving consensus in Proof-of-Work blockchains, users with the highest stakes are selected for validating transactions on the PoS blockchains. 

Working of the Proof of Stake Consensus

You might be wondering about the potential rewards for staking your crypto assets in a PoS blockchain-based DeFi protocol. First of all, you are investing in a highly scalable blockchain consensus algorithm with staking, which also ensures improved energy efficiency. Proof-of-Stake algorithms also create new avenues of opportunities for earning rewards. 

With higher stakes in the protocol, investors could get better rewards from the network. It is important to note that rewards in the case of staking are allocated on-chain. Therefore, new tokens of the cryptocurrency are minted and distributed as staking rewards for the validation of each block. PoS blockchain does not imply the need for expensive computational equipment, thereby providing better usability. 

Risks in Staking

The risks associated with Proof-of-Stake protocols are also another highlight in discussions on staking vs. yield farming vs. liquidity mining.

Interestingly, the aspect of risk is considerably lower in the case of staking when compared to other approaches for passive investment. You should note that the safety of the staked tokens depends directly on the safety of the protocol. 

At the same time, you would still notice some prominent risks in staking cryptocurrencies, such as slashing, volatility risks, validator risks, and server risks. In addition, you might have to encounter issues of loss or theft of funds, waiting periods for rewards, project failure, liquidity risks, minimum holdings, and extended lock-up periods. 

Understanding Liquidity Mining

The final entry in the staking vs. yield farming vs. liquidity mining also deserves adequate attention when it comes to discussions on DeFi. As a matter of fact, liquidity mining serves as the core highlight in any DeFi project. Furthermore, it also focuses on offering improved liquidity in the DeFi protocols. 

Participants have to offer their crypto assets to liquidity pools in DeFi protocols for the purpose of crypto trading. However, it is important to note that participants do not offer crypto assets into liquidity pools for crypto lending and borrowing in the case of liquidity mining. Investors place their crypto assets in trading pairs such as ETH/USDT, and the protocol offers a Liquidity Provider or LP token to them. 

Working of Liquidity Mining

A deeper understanding of how liquidity mining works can help in anticipating its differences with the other strategies for crypto investment.

The investors would receive rewards from the protocol for the tokens they place in the liquidity pool.

The rewards in liquidity mining are in the form of native governance tokens, which are mined at every block. 

In addition, investors also have the LP token from the first stage of locking their crypto assets into the liquidity pool.

It is important to note that the reward in liquidity mining depends profoundly on the share in total pool liquidity.

Furthermore, the newly minted tokens could also offer access to governance of a project alongside prospects for exchanging to obtain other cryptocurrencies or better rewards. 

Risks in Liquidity Mining

The understanding of staking vs. yield farming vs. liquidity mining would be complete with an impression of their risks.

Just like the other two approaches, liquidity mining also presents some notable risks such as impermanent loss, smart contract risks, and project risks. In addition, liquidity miners are also vulnerable to the rug pull effect in their projects. 

Staking vs. Yield Farming vs. Liquidity Mining – Key Differences

Staking vs Yield Farming vs Liquidity Mining
Staking vs Yield Farming vs Liquidity Mining

The differences between the three players in staking vs. yield farming vs. liquidity mining would refer directly to some key pointers. Here are some of them outlined in brief for your understanding. 

Yield farming is a proven approach for investing your crypto assets in liquidity pools of protocols.

Staking involves locking your crypto assets in the protocol in return for privileges to validate transactions on the protocol.

Liquidity mining involves locking in crypto assets in protocols in return for governance privileges in the protocol.

In terms of objectives, yield farming aims to offer you the highest possible returns on the crypto assets of users. On the other hand, liquidity mining focuses on improving liquidity of a DeFi protocol. Furthermore, staking emphasizes maintaining the security of a blockchain network.

Bottom Line 

On a concluding note, it is quite clear that staking as well as yield generation and liquidity miners provide distinct approaches for investing crypto assets.

The growing attention towards crypto assets is undoubtedly opening up many new opportunities for investors.

However, investors need to understand the strategies they need to follow for the type of returns they are expecting. 

Therefore, a clear impression of staking vs. yield farming vs. liquidity mining  differences could help in making a plausible decision.

Yield generation, liquidity mining, and Proof-of-Stake blockchains also have some setbacks you should look for.

Start discovering more about yield farming and the other two crypto investment strategies now.

*Disclaimer: The article should not be taken as, and is not intended to provide any investment advice. Claims made in this article do not constitute investment advice and should not be taken as such. 101 Blockchains shall not be responsible for any loss sustained by any person who relies on this article. Do your own research!

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