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Pirate Chain Meeting | I2P Talk

Pirate Weekly Meeting

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Experience HERC Technology Live at Blockchain Futurist Conference by Tracking the Produce, Artwork, Insurance and Collectables Onsite

One of the emerging strengths of the blockchain platform is how it enables agricultural companies to track the produce supply chain from farm to table. This is key in an era when frequent reports about tainted food and E. coli outbreaks have heightened concerns over food sourcing. Blockbuster marketing and strategy firm Untraceable recognizes this … Continued

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One of the emerging strengths of the blockchain platform is how it enables agricultural companies to track the produce supply chain from farm to table. This is key in an era when frequent reports about tainted food and E. coli outbreaks have heightened concerns over food sourcing. Blockbuster marketing and strategy firm Untraceable recognizes this technological power and has harnessed it as preparations are made for the second annual Blockchain Futurist Conference, which will take place Aug. 13-14 at Toronto’s premier Rebel Entertainment Complex & Cabana (http://nnw.fm/9gmQb).

Last year, more than 2,300 participants helped inaugurate the multi-day event, which celebrates blockchain technology and its game-changing usefulness for industries of all stripes as they try to manage distribution networks, labor efficiencies, product inventories and more. Conference goers are expected in even greater numbers at this year’s event, and the Futurist Conference will, of course, include food venues for these attendees. While doing so, Blockchain Futurist will simultaneously showcase facets of the blockchain’s transformative power, including the ability to verify the origin of produce.

Catering company Caterable (word play on the term “traceable”) will make history during Blockchain Futurist as the first catering company on the blockchain. Throughout the conference, Caterable will utilize the blockchain prowess of HERC.one (one of the event’s title sponsors) by putting produce and more on HERC’s platform (http://nnw.fm/9qCaM) to verify the provenance of the food being served during Blockchain Futurist. Caterable will provide breakfast on both days of the conference as well as signature nut mixes, snacks and more, and attendees will be able, through the power of the blockchain, to verify the origins of these food items on offer.

HERC will also play other significant roles at the conference. In addition to creating supply chain transparency for food served at the event, HERC is creating non-fungible tokens for the live artists who will share their talents during the conference as a certificate of their involvement, using proof of human work to validate transactions. Each conference goer will additionally receive a non-fungible token as a certificate of their conference attendance. HERC will also put the conference’s insurance documents on the blockchain.

The conference’s aim is to create the ecosystem of a miniature world within the walls of the conference. As an environmentally responsible gathering, the event will promote reuse where effective, compost of disposables, plastics reduction and generally effective disposal systems, recognizing that the world’s waste products also fill a sort of supply chain that, too, often causes harm to plants and animals.

HERC CEO Anthem Blanchard and CTO Logan Ryan Golema will be among the dozens of crypto pioneers, business executives, financial industry insiders and entrepreneurs pegged to speak at the event.

The conference venue, the luxurious Rebel Entertainment Complex & Cabana, provides an ideal setting for networking opportunities and for companies to demonstrate who they are and what they’re doing within the blockchain realm.

For more information about Blockchain Futurist, including ticket registration, visit www.futurist19.com. Discounts are available when purchased with crypto. Bulk purchase of VIP tickets (4) includes your own cabana!

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Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptocanucks.com/experience-herc-technology-live-at-blockchain-futurist-conference-by-tracking-the-produce-artwork-insurance-and-collectables-onsite/

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Mining Bitcoin: How to Mine Bitcoin

Introduction to Bitcoin Mining Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was … Continued

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Introduction to Bitcoin Mining

Mid-19th century California gold miners were called “forty-niners” after the year 1849, but this rush actually spanned from 1848-1853; it took five years for a quarter-million people to flood the state in search of “free wealth”. Satoshi Nakamoto first published the white paper on cryptocurrency back in 2008, and Bitcoin was launched in 2009. Today, in 2019, there are at least a million bitcoin miners around the world. A single bitcoin (or “1 BTC”) is worth almost $10,000, give or take a few hundred dollars, and there are around 1,800 new bitcoins mined every day, meaning there’s a whopping $18,000,000 being ‘created’ every day.

Not bad for ten years. No wonder everyone wants to learn how to mine bitcoin.

A Brief History on Money

Cryptocurrency is math that can be used as money.

Money is, fundamentally, an accounting of debt; you owe someone for a good or service, and giving them money erases that debt. Banks are giant ledgers, accounting for every transaction – when you paid for your coffee, this “ledger” sees that you lost $2 and the coffee shop gained $2.

Paper dollar bills do not record this specific transaction – who lost and who gained those $2 – but they act as evidence of a transaction having taken place at some point. In fiat currency, a state is the ultimate arbiter or holder of all the debts – and the one that mints, or makes, the currency in the first place. They account for how much currency they put out, and approximately how much is present now; the only road bump being that they do not know every transaction in between.

In cryptocurrency, no one person or entity controls a central ledger, because this “ledger” is effectively on every computer connected to the network of that currency; everyone has it. Since each unit of the cryptocurrency is composed of math, as opposed to physical substances like paper or gold, this math effectively records every transaction

So Where Does it Come From?

Fiat currencies are “made” (or rather, minted) by states, and accounted for by banks, but these currencies are often directly or indirectly made from precious metals that are mined from the Earth – which is why so many people flooded California in the mid-19th century. Minting is a middle step between the mining and the currency.

Cryptocurrency cuts out that middle step; bitcoin is “minted” and made from BTC mining.

If bitcoin is commercialized math, then mining is the process of solving all its equations. A common, yet accurate, joke explanation is, “imagine if you could solve puzzles, then use those solved puzzles as money”. Bitcoin is that, but on a much larger and astronomically more complex scale; bitcoin mining is both the process of solving puzzles, and the process of verifying other solves puzzles.

That said, these “puzzles” (called “blocks” in BTC mining) are operating on a very complicated scale. BTC mining is basically the process of racing to correctly the correct number out of 115,792,090,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000,000 possible options – and doing so hundreds, thousands, maybe even millions of times a day. This takes some pretty hefty computing power.

How to Mine Bitcoin

Despite a lot of chatter about bitcoin mining software, it is really a matter of hardware; software is just the most accessible way to access this hardware.

“Winning” or solving – and receiving payout for – is a combination of computational power and a bit of luck. If you accomplish this, you can get about 12.5 bitcoins, though starting in 2020, that will become 6.25. The number of bitcoins you receive for solving a block cuts in half every 210,000 blocks – which is roughly every four years, since the blocks get more and more complicated over time. This will keep going until 21 million bitcoins have been mined, a cap built into the system. There are currently only 3.17 million bitcoin left to be mined.

How to Mine Bitcoin in the Hard(ware) Way

There are two types of “miners” you can buy: application-specific integrated circuit (ASIC) or graphics processing unit (GPU). These are not only very expensive to buy, but they also take up a lot of electricity and require a powerful network connection. This is why mining calculators exist – these are various apps and sites into which you can input details on your miner, your power cost, and your network cost, to figure out how much profit (if any, even) you will turn.

It is usually pretty low, and these days, mining with your own hardware is only really advised for people who already happen to have lots of hardware and great network on hand, and would not need to go out of their way to get those.

That just leaves…

How to Mine Bitcoin With Bitcoin Mining Software

At 12.5 BTC per block, when bitcoins are worth $10,000 each, that’s $1,250,000 on the line every time you are competing with other miners to “guess the right number” first. This takes far more computer power than most people can afford on their own.

As such, the most common way to get in on BTC mining is to join a collective of miners and “rent” the mining tools – known predominantly as cloud mining.

The biggest advantage is that there is a much lower barrier to entry when you cloud mine bitcoins. The biggest disadvantage is that instead of getting the reward all to yourself, you are splitting those bitcoins with other people, and typically a lot of them. Winning a million dollars doesn’t mean as much when you’re splitting it with a million people.

Step 1: Choose Your Wallet

Before you start working for a job, you want to know how you will be getting your pay. By the same token, before you start mining for bitcoins, you should know where you will keep your bitcoins once you earn them.

Online wallets are typically the most convenient, and easiest to use. They are also typically the most efficient for actually using your bitcoins to purchase goods and services, and you will have your bitcoins even if you lose all your devices. That said, this does put you in a similar position with a bank. If the host is experiencing heavy traffic or DDOS attacks, you may not be able to access your funds, and if they are hacked, you can lose your bitcoins entirely.

Hardware wallets are the opposite extreme. As physical objects, are completely offline, and thus cannot be hacked or otherwise remotely attacked. As long as you have your hardware wallet and a device to access it with, you will be able to access your funds. But what you gain in remote security is lost in personal security; if you lose your device or it’s physically stolen from you, you lose your bitcoins.
The middle-ground between these is “software wallets” or “desktop wallets” (though these can also be mobile apps). These are on your local device, so even if exchanges go down or are attacked, you still have your bitcoins, and the only way you can lose them to remote exploitation is if you, the specific individual, are targeted and hacked, which is very unlikely. But, it can still be used to conduct transactions and otherwise go online as necessary. That said, this is also vulnerable to loss if you lose your physical device (i.e. if someone steals your computer).

Step 2: Find Your Cloud

Mining companies are the computing clouds or collectives of miners. While joining such a company might be couched in terms of renting the hardware, another way to look at it might be that you are investing.

The amount you invest, or the rate at which you rent, is known as a “mining package”, which you pick once you join a mining company. You can also invest ahead of time in new technology that will be coming out at a later date. That said, investing in something that doesn’t exist yet is always a heavy risk.

There are many sites in which you can find comparisons between companies, including user ratings and reviews. Be careful with the
reviews – while they can be insightful, many are also full of people attempting to get new ‘recruits’ specifically with referral codes, which will net the refer-er a small bonus or profit.

Step 3: Pick Your Pool

A “pool” is basically the team of miners that you choose to join up with, and contribute your invest or computing power. If you are just starting out mining bitcoins, you should start by joining an “older” (or rather, more established and vouched-for) pool, and perhaps one with lower fees. The payout or profit from these will usually be on the low side, but they are also less risky.

As you get the hang of bitcoin mining and learn how pools work, you can start venturing out to other pools that aren’t as established and carry higher risks, but also higher rewards.

Buy Bitcoin, Ethereum, XRP, and other cryptocurrencies on Coinsquare, the world’s home for cryptocurrency.


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Source: Coinsquare: Mining Bitcoin: How to Mine Bitcoin

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Disclaimer: CryptoCanucks.com is not intended to provide tax, legal or investment advice, and nothing on CryptoCanucks.com should be construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any asset by CryptoCanucks.com or any third party. You alone are solely responsible for determining whether any investment, asset or strategy, or any other product or service, is appropriate or suitable for you based on your investment objectives and personal and financial situation. You should consult an attorney or tax professional regarding your specific legal or tax situation.

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Source: https://cryptocanucks.com/mining-bitcoin-how-to-mine-bitcoin/

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Yearn Finance surges 45% as it joins dog pack with WOOFY

Yearn Finance is up nearly 45% in 24 hours, and it appears to be thanks to the team’s new dog token offering a bi-directional peg to YFI.

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Despite Dogecoin retracing from its all-time highs above $0.70, dog tokens continue to attract astonishing levels of popularity, with DeFi “blue-chip” Yearn Finance emerging as arguably the most prominent team seeking to cash in on the canine meme coin craze with the launch of its WOOFY token.

But the YFI fans jumping in early may not have fully understood the coin’s utility which saw the price sail into the stratosphere.

Whisperings of the new project began to circulate on Twitter over the past 24 hours, with users associated with Yearn hinting at a new token called WUFFY. Rumors of an airdrop for users who posted a picture of themselves being licked a dog and tag Yearn developer “Banteg” saw a flood of face-lick photos uploaded to Twitter.

As is quickly becoming the norm for new releases from the Yearn team, fans in the community raced to purchase the new token before fully understanding its utility. 

Despite WOOFY’s sole function being to offer a means to redenominate YFI holdings — with the Woofy Finance interface offering bi-directional YFI to WOOFY conversions at a ratio of 1:1 million, over-exuberant buyers pushed the price of WOOFY so high as to imply YFI’s to be $1.5 million per token.

As of this writing, YFI is trading for roughly $88,200 after gaining 43% in 24 hours.

Community sentiment appears divided regarding WOOFY, with Twitter user “BrotherMuozone” concluding that looking like “an unsavory attempt to milk vale out of the new suckers in the market,” adding the experiment actually comprises “a brilliantly timed and themed ‘unit bias a/b test’” offering insights into whether traders prefer tokens with a larger circulating supply and lower fiat price versus a low supply and high token price.

Although whether traders choose to hodl WOOFY or YFI is arbitrary, with traders’ preference for one token over the other having no impact on Yearn’s overall market cap, the introduction of WOOFY may reduce the volatility of YFI’s price by creating arbitrage opportunities between the two tokens.

As of this writing, WOOFY last changed hands for $0.09, implying a roughly 3% premium over YFI.

According to Dextools, nine of the top 10 most-viewed pairings on Uniswap V2 are dog tokens.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/yearn-finance-surges-45-as-it-joins-dog-pack-with-woofy

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Meme Coins Craze Attracting Money Behind Fall of Bitcoin

From the eyes of crypto-analysts, the ongoing craze for meme coins is the main reason behind the price struggle for Bitcoin.

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From the eyes of crypto-analysts, the ongoing craze for meme coins is the main reason behind the price struggle for Bitcoin. And, meme coins like Dogecoin and its clones are constantly sucking funds out of Bitcoin.

The Money Will Soon Reenter The Market: CEO CryptoQuant

The ongoing massive flows in the fresh funds are statistically massive. However, CryptoQuant’s CEO Ki-Young Ju believes that trends are changing at much higher rates, and tokens with true intrinsic value like BTC will recommence their position in the market. The statement reads,

“Smart money will reenter the market soon and reverse the trend.”

All of this started with Elon Musk who has always favored the meme cryptocurrency DOGE. Supported by names like Mark Cuban and Snoop Dogg that has also attracted the masses of investors in the space, it became arguably the most widely discussed topic in and outside the crypto-sphere.

However, there are crypto-whales in the market who know how to take advantage of the ongoing mania. Coins that seemingly have no value or product, are gaining people’s attention due to advertising services. In this attention-grabbing game, one can observe massive fluctuations and promises for multi-digital return.

The most recent example is a token called Shiba Inu (SHIB) whose exchange value is up tenfold in the past few days alone. This additionally enhances the snowball effect. According to analysts, the massive increase in value is also the result of most searched and viewed digital assets. Apart from the mind-blowing returns, the following data from CoinMarketCap confirms the same.

Smart Money to Go in Bitcoin Soon

CryptoQuant’s CEO argued that,

“The asset’s fundamentals are still “strong,” and on-chain data support this narrative. The market will become smart money soon, and the funds will go to major coins that have intrinsic value. The ongoing craze for meme coin is the primary reason why bitcoin’s price has been struggling.

At the same time, many altcoins see frequent new records, including the aforementioned massive surges by the meme coins. Nevertheless, CryptoQuant’s CEO. believes that this trend is about to change soon.

 As per reports, institutional investors uninterruptedly collecting cryptocurrencies, miners are refusing to sell, and smaller hoDLers are withdrawing their coins from exchanges at the same time. 

READ  Why Litecoin’s Ambitious Surge to Dethrone XRP Was Short-Lived

#‘Dogecoin Killer’ Shiba Inu #Bitcoin #CEO CryptoQuant #CryptoQuant’s CEO Ki Young Ju #SHIB #Shiba-Inu

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Source: https://www.cryptoknowmics.com/news/meme-coins-craze-attracting-money-behind-fall-of-bitcoin

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