Bitcoin – Power to the People by BitHouse-Co

Redbubble Shop BitHouse

For the first time in human history there is at the disposal of the masses a tool that eliminates the middlemen and takes trust from the hands of humans and beautifully makes it a mathematics code that cannot be breaken, hacked or tricked…

https://www.redbubble.com/shop/ap/99847715?asc=u

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Bitcoin – The People’s Money

Power to the People
Not by Force but by Free Will
The Choice is always Yours
Arise…
Choose Wisely…
People do not understand the Monetary System
Privacy is not Secrecy.
Veritas
Bitcoin cannot be ShutDown
Power of the long tail
CypherPunks Write Code
bitcoin Genesis Block

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Why bitcoin matters

Why Bitcoin Matters ?


“A mysterious new technology emerges, seemingly out of nowhere, but actually the result of two decades of intense
research and development by nearly anonymous researchers.

Political idealists project visions of liberation and revolution onto it; establishment elites heap contempt and scorn on it.

On the other hand, technologists – nerds – are transfixed by it.

They see within it enormous potential and spend their nights and weekends tinkering with it.

Eventually mainstream products, companies and industries emerge to commercialize it; its effects become profound; and later, many people

wonder why its powerful promise wasn’t more obvious from the start.

What technology am I talking about?

Personal computers in 1975, the Internet in 1993, and – I believe – Bitcoin in 2014….

The practical consequence of solving this problem is that Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer.

The consequences of this breakthrough are hard to overstate.

What kinds of digital property might be transferred in this way?

Think about digital signatures, digital contracts, digital keys (to physical locks, or to online lockers), digital ownership of physical assets such as cars and houses, digital stocks and bonds …

and digital money”.

– Marc Andreessen, Founder of Netscape & well-known venture capitalist, 2014

Marc Lowell Andreessen

(/ænˈdriːsən/ann-DREE-sən;

born July 9, 1971) is an American entrepreneurinvestor, and software engineer.

He is the co-author of Mosaic, the first widely used web browser; co-founder of Netscape; and co-founder and general partner of Silicon Valleyventure capital firm Andreessen Horowitz.

He co-founded and later sold the software company Opsware to Hewlett-Packard.

Andreessen is also a co-founder of Ning, a company that provides a platform for social networking websites.

He sits on the board of directors of Meta Platforms.

Andreessen was one of six inductees in the World Wide Web Hall of Fame announced at the First International Conference on the World-Wide Web in 1994.

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Crypto Terminology

Crypto Terminology


Glossary of Terms


Bags

Cryptoassets being held, generally as longer-term plays; sometimes used self-deprecatingly for soft or losing positions one should close, but can’t for whatever reason. “Too bad none of my alt bags saw the moon that I did today. #cryptoeclipse”

Bitcoin Maximalists

The truest believers in bitcoin’s original mission and design, often paired with a disdain for altcoins.

Block

Blocks are found in the Bitcoin block chain. 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.

Black Swans

A black swan is an event or occurrence that deviates beyond what is normally expected of a situation and is extremely difficult to predict.

Black swan events are typically random and unexpected.

The term was popularized by Nassim Nicholas Taleb, a finance professor, writer, and former Wall Street trader.

Block Chain

The Bitcoin block chain is a public record of all Bitcoin transactions. You might also hear the term used as a “public ledger”.

The block chain shows every single record of bitcoin transactions in order, dating back to the very first one.

The entire block chain can be downloaded and openly reviewed by anyone, or you can use a block explorer to review the block chain 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”.

BTFD | #BTFD

“Buy the Fucking Dip” Advice to other traders to pick up a coin that’s presumably hit its bottom.

“$GNT Golem making moves. Underpriced @ 7.5K If U are buying GNT under 10K still a good price 3 X LETS GO $ETH #CRYPTO #trading #BTFD”

Change

Let’s say you are spending $9.90 in your local supermarket, and you give the cashier $10.00. 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 cryptocurrency 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.

Cold Wallet and Hot Wallet

Cold storage is an offline wallet provided for storing cryptocurrency.

With cold storage, the digital wallet is stored on a platform that is not connected to the internet, thereby, protecting the wallet from unauthorized access, cyber hacks, and other vulnerabilities that a system connected to the internet is susceptible to.

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.

Cryptocurrency

Cryptocurrency is the broad name for digital currencies that use blockchain technology to work on a peer-to-peer basis.

Cryptocurrencies don’t need a bank to carry out transactions between individuals.

The nature of the blockchain means that individuals can transact with each other, even if they don’t trust each other.

The cryptocurrency network keeps track of all the transactions and ensures that no one tries to renege on a transaction.

Cryptocurrency 2.0

Also known as a decentralized app,(Dapp) a cryptocurrency 2.0 project uses the blockchain for something other than simply creating and sending money.

They typically involve decentralized versions of online services that were previously operated by a trusted third party.

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 block chain.

Cypherpunk

1. A person with an interest in encryption and privacy, especially one who uses encrypted email.

2. Cypherpunk, a term that appeared in Eric Hughes’ “A Cypherpunk’s Manifesto” in 1993, combines the ideas of cyberpunk, the spirit of individualism in cyberspace, with the use of strong  encryption ( ciphertext is encrypted text) to preserve privacy.

Cypherpunk advocates believe that the use of strong encryption algorithms will enable individuals to have safely private transactions.

They oppose any kind of government regulation of cryptography.

They admit the likelihood that criminals and terrorists will exploit the use of strong encryption systems, but accept the risk as the price to be paid for the individual’s right to privacy.

Dark Web

The part of the World Wide Web that is only accessible by means of special software, allowing users and website operators to remain anonymous or untraceable.

The Dark Web poses new and formidable challenges for law enforcement agencies around the world.

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.

Dogecoin

Dogecoin is an altcoin that first started as a joke in late 2013. Dogecoin, which features a Japanese fighting dog as its mascot, gained a broad international following and quickly grew to have a multi-million dollar market capitalization.

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.

DYOR | #DYOR

“Do Your Own Research.” The trader’s caveat that advice shouldn’t be taken at face value.

“$BCY has an appealing risk/reward here. Could take a few months to play out, however, and will require patience. #DYOR”

Exit Scam

Traditionally a term for darknet markets and vendors that, after building up a good reputation, accumulate bitcoins and disappear; exit scams are also feared by ICO participants who worry that, once they’ve raised hundreds of millions in hard-to-trace money, the developers will take the money and run.

Fiat

Government-issued money.

Full Node

A full node is when you download the entire block chain using a bitcoin client, and you relay, validate, and secure the data within the block chain.

The data is bitcoin transactions and blocks, which is validated across the entire network of users.

FOMO | #FOMO

“Fear of Missing Out.” When a coin starts to moon, dumb money rushes in. “$LGD on a TEAR right now!!! It has major highs right now! Some major #FOMO going on!!! Sell while it’s high. It WILL drop before fight!!!”

FUD

“Fear, Uncertainty, and Doubt.”

Another non-crypto term that describes attempts to scare weak-handed coin-holders into selling their positions, often with rumors of exit scams or hacks; the cheap, dumped coins are then picked up by the FUD-ers.

Fungibility

Fungibility is a good or asset’s interchangeability with other individual goods or assets of the same type.

Assets possessing this fungibility property simplify the exchange and trade processes, as interchangeability assumes everyone values all goods of that class the same.

HODL

HOLD ON FOR DEAR LIFE!

The intentionally misspelled word hodl has its roots in a December 2013 post on the Bitcoin Talk forum, “I AM HODLING”; when the author, GameKyuubi, couldn’t be bothered to fix his typo, the community instantly turned it into a verb: to hodl.


Along with other terms, hodl is an effective litmus test for sussing out newcomers, carpetbaggers, and tourists.

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 210,000 blocks,roughtly four years.

This is called “halving.”

The final halving will take place in the year 2140.

Hash

A cryptographic hash is a mathematical function that takes a file and produces a relative shortcode that can be used to identify that file.

A hash has a couple of key properties:

• It is unique. 

Only a particular file can produce a particular hash, and two different files will never produce the same hash.

It cannot be reversed.

You can’t work out what a file was by looking at its hash.

Hashing is used to prove that a set of data has not been tampered with.

It is what makes bitcoin mining possible.

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 block chain, the hardware they use must perform intensive computational operations which is output in hashes per second.

Hash Converter

Use an online hash converter, such as https://hash.online-convert.com and enter the text you want to convert.

Then, try changing just a letter in the input text to see how the resulting hash varies significantly

Hard Fork

A hard fork is when a single cryptocurrency splits in two.

It occurs when a cryptocurrency’s existing code is changed, resulting in both an old and new version.

Meanwhile a soft fork is essentially the same thing, but the idea is that only one blockchain (and thus one coin) will remain valid as users adopt the update.

So both fork types create a split, but a hard fork is meant to create two blockchain/coins and a soft fork is meant to result in one.

Segwit was a soft fork, Bitcoin Cash, Bitcoin Gold, and Segwit2x are all hard forks.

Immutability

In object-oriented and functional programming, an immutable object (unchangeable object) is an object whose state cannot be modified after it is created.

This is in contrast to a mutable object (changeable object), which can be modified after it is created.

Lambo | #Lambo

A running joke among traders, you’re cryptorich when you can buy a Lamborghini; though absurd, it’s not unheard of — when Alexandre Cazes, the suspected founder of a major darknet marketplace, was found hanged in his Bangkok jail cell, Thai media reported that he owned four Lamborghinis.

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.

Moon | #Moon

A rapid price increase.

Peer-to-Peer

Typically, online applications are provided by a central party that organizes all the transactions.

Your bank runs its own computers, and all the customers log into the bank’s computer to handle their transactions.

If Bob wants to send money to Alice, he asks the bank to do it, and the bank controls everything.

In a peer-to-peer arrangement, technology cuts out the middleman, meaning that people deal directly with each other.

Bob would send the money directly to Alice, and there wouldn’t be any bank involved at all.

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 block chain.

Once a chain is formed, it confirms all previous Bitcoin transactions and secures the network.

Pump

A rapid price increase believed to be the result of market manipulation, a.k.a. pump and dump.

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.

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.

Rekt | #Rekt

Meaning “wrecked”.

“I never sell because of #FUD, and I never buy because of #FOMO.

That’s the easiest way to get #Rekt

Sats

Satoshis, currently the smallest unit of a single bitcoin, useful for tracking coin prices. “At the rate $XRP’s moving, I wouldn’t be surprised if it hits 10K sats by the end of the day.”

Security Tokens

A security token (sometimes called an authentication token) is a small hardware device that the owner carries to authorize access to a network service.

The device may be in the form of a smart card or may be embedded in a commonly used object such as a key fob.

Shitcoins

Pejorative term for altcoins, especially low-cap coins, often affectionately used by shitcoin hodlers.

SEGWIT

SegWit is the process by which the block size limit on a blockchain is increased by removing signature data from Bitcoin transactions.

When certain parts of a transaction are removed, this frees up space or capacity to add more transactions to the chain.

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.

Whale

Anyone who owns 5 percent of any given coin, often used as a boogeyman to explain unwanted price movements.

“Nice support $NEO. Clear whale manipulation.”


Blue Pill vs. Red Pill
Choose wisely

When You’re ready …

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What bitcoin is … NOT

Bitcoin is not Abracadabra…
but Bitcoin can be Avada Kedavra for the current Banking system!

Bitcoin is not Magic…
but it can be for Muggles!

Bitcoin is not an “Investment” …
but educating yourself about bitcoin can be!

Bitcoin is not an “Investment”…
but knowing  the basics and being educated about it, lowers the chances of loosing your hard earned money!

Bitcoin is not an “Investment”…
but staking Sats proved to be a preety good Strategy in the Long Term!

Bitcoin is not digital money…
but it’s ons of it’s first applications!

Bitcoin is not money…
but is Money for the Internet!

Bitcoin is not PRICE !!!

Bitcoin is not PRICE…
but the market is driven mostly by FUD & FOMO people

Fear
Uncertainty
Doubt

bring the market Down


Fear
Of
Missing
Out

bring the market Up

Bitcoin is not a “Get Rich Quick Scheme” and the one’s that got rich were the one’s that were there from the begining…

Bitcoin is not voodoo people, magic people…
but a bunch of smart geeks & nerds that support the bitcoin’s philosophy and what it stands for…

Bitcoin is not under no juridstiction…
but it is a global p2p network of like-minded people that with the power of their equipment sustain, mantain and make the bitcoin network stronger and more decentralized!

Bitcoin is not a Coin…
but an entry in a digital ledger!

Bitcoin is not illegal activity money…
but bitcoin can be used in such activity…
Reports show that FIAT is still the No. #1 choice for “Evil Doers” as it doens’t have an public, open and visible ledger …
Duh…

Bitcoin is not evil…
but bitcoin can be used to do evil!
As does a Pen!
It can be used to do evil!
How, you would ask?
If  I take this ✏ and stick it up your a… who is Evil ?!?
The One who invented the pen?
The Pen?
Me?
Your a.. cause it was in the way 🤣
Perspective is a matter of opinion…

Bitcoin is not News…
but instead read pools, github, exchanges, wallets…
They are the ones that pave the way where bitcoin could, should or would go!

Bitcoin is not DEAD…
It was already declared Dead 441 times!

see :

https://99bitcoins.com/bitcoin-obituaries/

Bitcoin is not …
Yapidi Yapidi Yap people…

If someone says :

1 – Bitcoin consumes too much electricity, they don’t understand POW!

2 – Bitcoin isn’t a government backed currency, you should ask who backs their government…
If the answer is the Army…

3 – Bitcoin isn’t backed by gold like the the US$…
Neither is the $ since ’71

4 – Bitcoin isn’t real because I can’t see it…
80% of world’s money is Digital…

5 – Bitcoin isn’t a store of value as good as Gold is…
Gold had thousands of years to prove that, bitcoin only 13… give it time!
It already proved a lot !!!

6 – Bitcoin’s inventor is annonymous and can’t be trusted…
Who invented money then? How do money come up into existance?

7 – Bitcoin will never be largely accepted because it isn’t issued by a government…
You know what else wasn’t issued by no government ? Cars, Electricity, Steam Engine, Facebook, Uber, Google, Amazon, etc bla bla bla

8 – Bitcoin can’t be a currency cause I can’t buy anything with it…
I think I have shared a list with places that you can buy things with bitcoin…Quite a few!!!

9 – Whales… Beware of yapidi yap of whales cause they say one and do the opposite 🙂 😉 !!!

9 – Bitcoin is not this, bitcoin is not that but they all swarm around the bee’s honeypot as if it were honey 🤣🤣🤣

I forgot…In the meantime, little unsignificant countries like El Salvador, mine bitcoin with 🌋 !!!

And still newspapers, investors that bite their whatever not having invested when it was under $1, and a hole portion of the world are all saying…

Etc bla bla bla Yapidi Yapidi Yap


Never Forget The Golden Rules:

Not Your Keys, Not Your Crypto!!!

Don’t Trust, Verify!!!

Don’t Believe, Do your own Resesearch and due diligence!!!

Save your Wallet’s Mnemonic Phrase in at least 3 places for safe-keeping!!!


WE ARE SATOSHI


When you’re ready…

Timothy C. May

Hal Finney

Poem of the Legacy

From the ashes of the long forgotten past,
A bright mind wrote a code that would for ever last…
A code so powerful and strong,
That would change the world for oh so long…

The code he wrote and set it free,
For the humankind legacy to be…
To change the lives of future generations to come,
He wrote the code and he was gone…

Oh, bright mind your legacy will last,
For generations to come and be thankful about the past…
Nobody knows who you might be,
Some do and say Kudos to You for Ethernity!


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Btc-Usd Monthly Returns


Btc-Usd Monthly Returns 2011-2021

Asset Class Total Return over last 10 Years

Numbers talk louder and more truthful than words could ever do !!!

Simple plain numbers that have the answer everyone is looking for 🙂😉

That’s what I love about mathematics, it’s an undeniable Truth !!!

Read and pick your own conclusion folks !!!

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Mining Pool Payouts

Mining Pool Payouts explained: PPS vs. FPPS vs. PPLNS vs. PPS+

What is a Mining Pool?

Mining Pools

A Mining pools is a hub where a group of Crypto currency miners share their processing power to the network in order to solve the blocks quicker.

The rewards will be split equally based on the amount of shares that they contributed in finding a block.

Pool mining was introduced during early Bitcoin mining days when solo mining became non-viable.

The more powerful your hardware is, the more shares you’ll submit, the more shares you submit, the more you’ll earn.

In order for the pool to pay its miners each pool uses its own payment scheme. Two of the most popular option is PPS and PPLNS.


Mining Pool payouts explained PPS vs. FPPS vs. PPLNS vs. PPS+
Mining pool payouts explained: Pay-per-share (PPS)
Pay-Per-Share (PPS)
Pay-per-last-n-shares (PPLNS) MineBest
Pay-Per-Last-N-Shares (PPLNS)
Different mining pool payouts explained: PPS vs. FPPS vs. PPLNS vs. PPS+

The first thing a miner has to decide is which pool mining payout is best for their requirements.

PROP (proportional), FPPS (Full Pay Per Share), SMPPS (Shared Maximum Pay Per Share), ESMPPS (Equalized Shared Maximum Pay Per Share), CPPSRB (Capped Pay Per Share with Recent Backpay), PPS (Pay Per Share), PPLNS (Pay Per Last N Share) and lastly PPS+ (Pay Per Share Plus).

Among them PPS and PPLNS are the two types of payment models that are mostly used by mining pools currently. Before we explain both PPS and PPLNS we’ll make a short note on mining pool.

There are numerous payment systems (over 15), but the vast majority of the pools operate on a PPS, FPPS, PPS+ and PPLNS basis.

However, before trying to understand the different settlement models, it is important to come to a consensus on some terms used in crypto mining.

Block Reward: Block reward refers to the new coins issued by the network to miners for each successfully solved block.

Hashing PowerHash rate is the speed at which a computer completes an operation in the cryptocurrency’s code. A higher hashrate increases a miner’s opportunity of finding the next block.

Luck: Luck, in mining, is the probability of success. Imagine that each miner is given a lottery ticket for a certain amount of hashing power they provide. If they are to provide 1 TH/s hashing power when the overall hashing power in the network is 10 TH/s, then they would receive 1 of 10 total lottery tickets. The probability of winning the lottery (in this case finding the block reward) would be 10%.

Transaction Fees: Some networks (like Bitcoin) also have substantial amounts of transaction fees rewarded to miners. These fees are the total fees paid by users of the network to execute transactions.

Pay-Per-Share (PPS)

PPS offers an instant flat payout for each share that is solved. With this payment method, a miner gets a standard payout rate for each share completed. Each share is worth a certain amount of mineable cryptocurrency.

After deducting the mining pool fees, the miners are given a fixed income every day. Therefore, under the PPS mode, the returns are relatively stable. Miners are exposed to risk here. They may not get the transaction fees.

It is ideal for low priced orders for an extended period. This model becomes lucrative during a bearish run of a particular coin.

Pay-Per-Last-N-Shares (PPLNS)

With this payout, profits will be allocated based on the number of shares miners contribute. This kind of allocation method is closely related to the block mined out. If the mining pool excavates multiple blocks in a day, the miners will have a high profit; if the mining pool is not able to mine a block during the whole day, the miner’s profit during the whole day is zero.

Notably, in the short term, the PPLNS model is highly correlated with a pool’s luck. If the luck factor of a particular mining pool decreases in the short term, the miner’s income will also decrease accordingly (the opposite case of the mining pool being lucky in the short term is possible too). However, in the long term, the luck factor tends to average out to the mean.

Hence, this model is ideal for fixing orders on a big pool that has a high chance of finding a block within the order time limit. Or a standard order which will have miners connected for a longer time.

Pay Per Share + (PPS+)

PPS+ is a blend of two modes mentioned above, PPS and PPLNS. The block reward is settled according to the PPS model. And the mining service charge /transaction fee is settled according to the PPLNS mode.

That is to say, in this mode, the miner can additionally obtain the income of part of the transaction fee based on the PPLNS payment method. This was a major drawback in the PPS model.

Full Pay Per Share (FPPS)

With this pool payout, both the block reward and the mining service charge are settled according to the theoretical profit. Calculate a standard transaction fee within a certain period and distribute it to miners according to their hash power contributions in the pool. It increases the miners’ earnings by sharing some of the transaction fees.

With the PPS and FPPS payment methods, you will get paid no matter if the pool finds a block or not. This is the most significant advantage over PPLNS. The risks and rewards are higher with the PPLNS plan.

The decision on which mining plan to choose from needs to be preceded by the decision of choosing the right mining infrastructure.


Difference between PPS vs PPLNS payment models?

PPLNS

PPLNS stands for Pay Per Last (luck) N Shares. This method calculates your payments based on the number of shares you submitted during a shift.

It includes shift system which is time based or by number of shares submitted by the miners on the pool.

Your pool may find blocks consistently or in overtime it may have huge variations in winning a block and that ultimately affects your payments. PPLNS greatly involves luck factor and you’ll notice huge fluctuations in your 24 hour payout.

If you maintain your mining on a single pool then your payouts will remain consistent and it only differs when new miners join or leave the pool.

PPS

Pay Per Share pays you an average of the number of shares that you contributed to the pool in finding blocks.

PPS pays you on solid rate and is more of a direct method which completely eliminates luck factor.

In PPS method regardless of the pools lucky at winning blocks you’re going to get 100% payout at the end of the day. This is because there is a standard payout set for each miners based on their hash power.

It won’t be more than 100% or less than that and with this PPS method you can easily calculate your potential earnings.

On the other hand with PPLNS payment system on average you can either get more than 100% or less than that. It is based on how lucky the pool is at finding blocks.

Should I choose PPS or PPLNS?

This is one of the common questions most miners have initially.

Should I choose Pay Per Share or Pay Per Last N Share pools?

If you are the person who don’t switch pools often then PPLNS is definitely for you as such pools are good at rewarding its loyal miners.

Pay Per Share: No matter what, if you need a fixed payouts at the end of the day to liquidate or for whatsoever reason then your choice would be PPS.

Pay Per Share works well for large mining farms who can calculate and have statistics based on their mining power.

PPS is good for large miners but really bad for pool owners as there is a guaranteed payout for work no matter if the pool hits the block or not.

For this reason and because of pool hoppers (not loyal miners of the pool) most of the mining pools have switched to PPLNS payment model.

Pay Per Last N Shares: If you are the one that is looking to accumulate and hold more coins then PPLNS is recommended.

For each block that your pool finds you’ll get a share based on your hashrate.

Unlike PPS, in PPLNS you’ll get payouts more often and in the long run you’ll be rewarded more with PPLNS than PPS.

However due to huge variance it’s really hard to calculate your mining income.

PPLNS is good for both mid-range miners and pool owners as the payouts is only based on the blocks found.

If your pool is more lucky  then you’ll see payments more often. This is the reason why miners stick to a pool where there is more hash power assuming the pool finds block very often.

You can find more comparison of mining pools payment system here.

How to find out if a pool is PPS or PPLNS?

Cryptocurrency mining can be a lucrative process. However it’s very important that you find out what payment scheme your pool is using before committing your hashing power.

Most of the mining pools has this information listed on FAQ page or at payouts page. If you’re unable to find this information then the only option is to contact the pool support.

Hope the information on this page is helpful for you to decide the right mining pool.


Happy Hashing


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Happy 13th BirthDay bitcoin

bitcoin – People’s Money

Brief history of Bitcoin

On January 3rd, 2009 Satoshi Nakamoto published the Genesis Block with the first 50 Bitcoins on Sourceforge. He also left a message on the blockchain at the time, quoting the headline in the British newspaper Times:

On January 3, 2009, the minister was on the verge of bailing out the banks.

Nakamoto started writing the white paper in 2008 and published it in October of that year.

The concept of a decentralized, anonymous, trusted currency emerged after the 2008 financial crisis, which left responsibility for the banks.

Satoshi neither supports the modern banking system nor does he like partial reserve banks.

A partial reserve bank is a bank that takes deposits and issues loans or investments, but only has to reserve a fraction of its liabilities for deposits. Basically, the bank is using money that it doesn’t own.

Satoshi wants to get rid of banks and seedy middlemen whom he believes are corrupt and unreliable. As such, he created a more community-centric digital currency.

13 years later, Bitcoin is still going strong with a market cap of nearly $ 900 billion. It is currently held by billionaires, banks, celebrities, governments, and corporations. This is evidence of how far BTC has come in its brief existence.

The precarious banking situation and economic uncertainty are also in crisis again.

The price of Bitcoin on its birthday 🎂

13 years: $ 47,310
12 years: $ 33,400
11 years: $ 7,319
10 years: $ 3,783
9 years: $ 14,764
8 years: $ 1,084
7 years: $ 432
6 years: $ 275
5 years: $ 816
4 years: $ 13
3 years: $ 5
2 years: $ 0.29
1 year: $ 0.05


Happpy Birthday bitcoin !!!

Thanks for all the teachings and wealth of Knowledge I do now have thanks to you !!!


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DEX Aggregators 2022

Top DEX Aggregators

Decentralized exchange (DEX) aggregators, also known as liquidity aggregators, compile the exchange rates of numerous DEX platforms and show you a list of platforms offering the best value for your crypto trades.

Moreover, you can access a deeper pool of liquidity by trading on multiple DEXs using a single trading dashboard. Think of them as the search engines of the DeFi landscape, scouring DEXs for the best deals so that you can swap your crypto assets with the lowest fees.

1Inch

Although it is a DEX in its own right, 1Inch’s main USP is its position as a top DEX aggregator across multiple blockchains. The network supports trades across major ecosystems like Ethereum and Binance and smaller networks like Polygon, Arbitrum, and Optimism.

As an aggregator, 1Inch gives you access to over 120 liquidity sources, with 68 on Ethereum, 39 on Binance, and 24 on Polygon. With daily trading volumes averaging close to $300 million from 300,000+ active users, it is one of the most active DEX aggregators in 2021.

The native token of the 1Inch DEX is also called 1INCH. It functions as both a utility token and a governance token for the protocol. 1INCH is a multi-chain token available on the Ethereum and Binance Smart Chain.

1Inch is one of the best DEX aggregators for crypto rookies, with detailed documentation and a well-developed Help Center filled with starter guides, FAQs, and more.



Slingshot

Slingshot grew out of DEX.AG, a DEX aggregator platform created in late 2018 as part of a hackathon event. At its launch, it supported seven major DEX, including Uniswap, Kyber, and DDEX.

After million-dollar funding rounds, DEX.AG was rebranded as Slingshot in November 2020. Slingshot works on Ethereum-based protocols – Polygon (formerly MATIC) and Arbitrum One. Across the two, you get access to over 326 exchanges/liquidity sources.

Slingshot is a very popular choice among experienced cryptocurrency traders due to its relative simplicity and advanced functionality. The average daily volumes touching over half a billion dollars is a testament to the platform’s popularity.

However, due to a threadbare interface and lack of easily accessible website FAQs, guides, and documentation, Slingshot is not a very beginner-friendly DEX platform.



Totle Swap

Totle is a DEX aggregator that also dips into synthetic asset providers, allowing traders to engage with tokenized assets of many shapes and sizes. Unfortunately, the platform seems to be dormant, with no updates since mid-2021 and a lack of stats on any major crypto platform.


ParaSwap

ParaSwap is a versatile DEX aggregator supporting Ethereum, Binance, Polygon, and Avalanche blockchains. In addition, it has a native token for liquidity and governance purposes called the PSP.

While it is one of the more feature-packed and beginner-friendly DEX aggregators, ParaSwap is still in the growth phase. In 2021, the platform reported 1.4 million total users over time, with daily transaction volumes peaking around $150 million.

ParaSwap allows you access to swap and payment options across 75 DEX platforms, focusing on better market rates and cheaper gas fees. In addition, decentralized applications (dApps) can also integrate with ParaSwap to better streamline token swaps.


Matcha

Like 1Inch and Slingshot, Matcha is both a DEX aggregator and a decentralized exchange in itself. Powered by 0x Labs, the platform focuses on transparency, lower fees, smart order routing, and easier access.

Thanks to a recent partnership with MoonPay, Matcha can now accept payments in fiat currencies, a first for DEX platforms. This could be very useful for newcomers – you can directly purchase cryptos using regular currency on Matcha and start trading immediately.

Matcha provides access to over 50 liquidity sources and DEX platforms across three blockchain systems – Ethereum, Binance, and Polygon. Despite being one of the younger platforms on this list (launched in 2020), Matcha boasts over 2.5k daily traders. Its daily volumes are close to $150 million.


Uniswap V3

Uniswap is a DEX platform based on the Automated Marker Maker (AMM) model. After its launch in November 2018, the DEX has seen a meteoric rise among crypto circles. As of Q4 2021, it routinely tops the charts of DEX platforms with the largest daily volumes with $5.5 billion.

The platform is currently in its third iteration – Uniswap V3. Based on the Ethereum Blockchain, Uniswap gives you access to over 50 liquidity pools, with 285 cryptocurrencies across more than 350 markets. The USDC-ETH pair alone accounts for over $1.8 billion worth of trades each day.

While not a DEX aggregator per se, Uniswap is still a great option to consider due to its sheer size and reach. Most of the other aggregators on this list have Uniswap as a major partner and source of trading options.


PancakeSwap

PancakeSwap launched in 2020 to work like Uniswap, but on the Binance Smart Chain instead of Ethereum. Like Uniswap, PancakeSwap is a DEX platform with an AMM operating model, with an additional focus on yield farming based on the native CAKE token.

Regardless of the sweet and syrupy “cake” theme, PancakeSwap is a major force on the DeFi scene, thanks to the sheer size of the Binance blockchain. It easily slots into the top three most active DEX platforms, with daily volumes exceeding $2.6 billion.

The platform is user-friendly, with detailed community guides, troubleshooting articles, and customer support. In addition, you can trade in over 30 major cryptos backed by an equal number of high-quality liquidity pools.


SushiSwap

Is based directly on Uniswap, with a fork in the original code created by its anonymous developer who goes by the pseudonym Chef Nomi.

Right from the outset, SushiSwap has courted controversy. To generate liquidity, its founder encouraged users to deposit in Uniswap tokens, leeching away almost $810 million from Uniswap in a “vampire attack.”

Chef Nomi then proceeded to withdraw his liquidity from the project, generating a massive controversy. Ultimately, he backtracked and returned all funds, relinquishing his control over the project to a new team.

Since these early missteps, SushiSwap has maintained healthy growth rates in the crowded arena of Ethereum-based DEX/AMM platforms. It currently ranks in the top ten list, with daily volumes of close to $800 million across 400+ markets.


dYdX

dYdX is a major DEX platform with a heavy focus on reducing the inflated gas prices on Ethereum. It is one of the few platforms to offer gasless deposits to new users who deposit above a certain threshold. The platform has plans to make this a permanent feature.

dYdX is also working closely with StarkWare to deploy a Layer 2 scalability engine designed to reduce gas costs and trading fees further. Using Ethereum Smart Contracts, dYdX enables traders to invest in the crypto-equivalent of futures trading and other derivatives.

Due to its unique position on the Ethereum ecosystem, dYdX has managed to gain ground on other more popular DEX platforms like Uniswap. As a result, at the end of 2021, dYdX is ranked second on the list of the most active DEX platforms, with daily volumes of $5.4 billion.


Raydium

Instead of Ethereum or Binance, the Raydium platform operates on the highly promising Solana blockchain. As a result, the Ethereum-competitor has a vibrant developer ecosystem, and its cryptocurrency has grown at least 16,000% since January 2021.

The increased interest in the Solana blockchain has also helped Raydium, an AMM platform based on the Serum DEX.

The platform gives access to over 430 trading pairs, with Solana-USDT being the most popular.

The native token, also called Raydium, is the foundation of all future apps and projects on the Solana and Serum ecosystems.

The project’s primary focus is to function as the engine of DeFi on Solana. However, with current daily volumes already reaching $300 million, Raydium shows a lot of promise for future growth.


TraderJoe

Launched in 2020 as a less expensive, more efficient alternative to Ethereum,  Avalanche blockchain focuses on decentralized apps.

Its AVAX token has hit all-time high demands in late 2021, thanks to positive media coverage and high-profile partnerships with entities like Deloitte.

This surge has also propelled TraderJoe, the major DEX platform based around Avalanche blockchain, to the top of the DEX pile in recent times. Its pole position in the blockchain ecosystem has helped drive TraderJoe’s daily trades close to $1 billion.

You can trade major cryptos, stake and gain the native JOE token as rewards, lend other cryptos and farm yields on the TraderJoe platform. With low fees and over 170 markets, TraderJoe is a top target for anyone interested in the Avalanche ecosystem.


Top Pick: Uniswap

The Top pick is Uniswap, for its deep liquidity pools, its user-friendliness, and its commitment to continuous innovation.

As the various DeFi ecosystems continue to grow and expand, the importance of DEX aggregators and AMM platforms will increase further.

These platforms serve a vital purpose, finding liquidity and facilitating transactional activity across multiple blockchains.

To say that the future of DeFi, and by extension, the future of finance as we know it, hinges on DEX aggregators would not be an overstatement.


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#1 Book of the Year I recomend reading…

“Ego is the Enemy”


“Re-read it each year. It’s that important.”

Derek Sivers, author of “Anything you want”

“This is a book I want every athlete, aspiring leader, entrepreneur, thinker and doer to read. Ryan Holiday is one of the most promising young writers of his generation.”

George Raveling, Hall of Fame Basketball Coach

“Ryan Holiday is one of his generation’s finest thinkers, and this book is his best yet.”

Steven Pressfield, author of “The War of Art” and “Gates of Fire

“Ryan Holiday has written a brilliant and engaging book, well beyond his years… It is invaluable.”

Brian Koppelman, screenwriter and director, “Rounders”, “Ocean’s Thirteen” and “Billions”

Ego Is the Enemy

“While the history books are filled with tales of obsessive, visionary geniuses who remade the world in their image with sheer, almost irrational force, I’ve found that history is also made by individuals who fought their egos at every turn, who eschewed the spotlight, and who put their higher goals above their desire for recognition.” – from the Prologue

Many of us insist the main impediment to a full, successful life is the outside world. In fact, the most common enemy lies within: our ego. Early in our careers, it impedes learning and the cultivation of talent. With success, it can blind us to our faults and sow future problems. In failure, it magnifies each blow and makes recovery more difficult. At every stage, ego holds us back.

The Ego is the Enemy draws on a vast array of stories and examples, from literature to philosophy to history. We meet fascinating figures like Howard Hughes, Katharine Graham, Bill Belichick, and Eleanor Roosevelt, all of whom reached the highest levels of power and success by conquering their own egos. Their strategies and tactics can be ours as well.

But why should we bother fighting ego in an era that glorifies social media, reality TV, and other forms of shameless self-promotion?  Armed with the lessons in this book, as Holiday writes, “you will be less invested in the story you tell about your own specialness, and as a result, you will be liberated to accomplish the world-changing work you’ve set out to achieve.


RYAN HOLIDAY


Ryan Holiday is a strategist and writer. He dropped out of college at nineteen to appren­tice under Robert Greene, author of “The 48 Laws of Power”, and later served as the director of mar­keting for American Apparel.

His company, Brass Check, has advised clients like Google, TASER, and Complex, as well as many prominent bestselling authors.

Holiday has written four previous books, most recently The Obstacle Is the Way, which has been translated into seventeen languages and has a cult following among NFL coaches, world-class athletes, TV personalities, political leaders, and others around the world.

He lives on a small ranch outside Austin, Texas. 


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Merry X-Mass – Crypto Style

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Happy Holidays

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