Example Schedule C for Cryptocurrency Mining – JoeHx Blog
Filecoin | Development Status and Mining Progress
Author: Gamals Ahmed, CoinEx Business Ambassador https://preview.redd.it/5bqakdqgl3g51.jpg?width=865&format=pjpg&auto=webp&s=b709794863977eb6554e3919b9e00ca750e3e704 A decentralized storage network that transforms cloud storage into an account market. Miners obtain the integrity of the original protocol by providing data storage and / or retrieval. On the contrary, customers pay miners to store or distribute data and retrieve it. Filecoin announced, that there will be more delays before its main network is officially launched. Filecoin developers postponed the release date of their main network to late July to late August 2020. As mentioned in a recent announcement, the Filecoin team said that the initiative completed the first round of the internal protocol security audit. Platform developers claim that the results of the review showed that they need to make several changes to the protocol’s code base before performing the second stage of the software testing process. Created by Protocol Labs, Filecoin was developed using File System (IPFS), which is a peer-to-peer data storage network. Filecoin will allow users to trade storage space in an open and decentralized market. Filecoin developers implemented one of the largest cryptocurrency sales in 2017. They have privately obtained over $ 200 million from professional or accredited investors, including many institutional investors. The main network was slated to launch last month, but in February 2020, the Philly Queen development team delayed the release of the main network between July 15 and July 17, 2020. They claimed that the outbreak of the Coronavirus (COVID-19) in China was the main cause of the delay. The developers now say that they need more time to solve the problems found during a recent codecase audit. The Filecoin team noted the following: “We have drafted a number of protocol changes to ensure that building our major network launch is safe and economically sound.” The project developers will add them to two different implementations of Filecoin (Lotus and go-filecoin) in the coming weeks. Filecoin developers conducted a survey to allow platform community members to cast their votes on three different launch dates for Testnet Phase 2 and mainnet. The team reported that the community gave their votes. Based on the vote results, the Filecoin team announced a “conservative” estimate that the second phase of the network test should begin by May 11, 2020. The main Filecoin network may be launched sometime between July 20 and August 21, 2020. The updates to the project can be found on the Filecoin Road Map. Filecoin developers stated: “This option will make us get the most important protocol changes first, and then implement the rest as protocol updates during testnet.” Filecoin is back down from the final test stage. Another filecoin decentralized storage network provider launched its catalytic test network, the final stage of the storage network test that supports the blockchain. In a blog post on her website, Filecoin said she will postpone the last test round until August. The company also announced a calibration period from July 20 to August 3 to allow miners to test their mining settings and get an idea of how competition conditions affected their rewards. Filecoin had announced earlier last month that the catalytic testnet test would precede its flagship launch. The delay in the final test also means that the company has returned the main launch window between August 31 and September 21. Despite the lack of clear incentives for miners and multiple delays, Filecoin has succeeded in attracting huge interest, especially in China. Investors remained highly speculating on the network’s mining hardware and its premium price. Mining in Filecoin In most blockchain protocols, “miners” are network participants who do the work necessary to promote and maintain the blockchain. To provide these services, miners are compensated in the original cryptocurrency. Mining in Filecoin works completely differently — instead of contributing to computational power, miners contribute storage capacity to use for dealing with customers looking to store data. Filecoin will contain several types of miners: Storage miners responsible for storing files and data on the network. Miners retrieval, responsible for providing quick tubes for file recovery. Miners repair to be carried out. Storage miners are the heart of the network. They earn Filecoin by storing data for clients, and computerizing cipher directories to check storage over time. The probability of earning the reward reward and transaction fees is proportional to the amount of storage that the Miner contributes to the Filecoin network, not the hash power. Retriever miners are the veins of the network. They earn Filecoin by winning bids and mining fees for a specific file, which is determined by the market value of the said file size. Miners bandwidth and recovery / initial transaction response time will determine its ability to close recovery deals on the network. The maximum bandwidth of the recovery miners will determine the total amount of deals that it can enter into. In the current implementation, the focus is mostly on storage miners, who sell storage capacity for FIL.
The current system specifications recommended for running the miner are:
NVIDIA-manufactured GPU (to be expanded).
SSD drive designated as large buffer (512GB +).
Large amount of RAM for data replication account (128GB +)
Compared to the hardware requirements for running a validity checker, these standards are much higher — although they definitely deserve it. Since these will not increase in the presumed future, the money spent on Filecoin mining hardware will provide users with many years of reliable service, and they pay themselves many times. Think of investing as a small business for cloud storage. To launch a model on the current data hosting model, it will cost millions of dollars in infrastructure and logistics to get started. With Filecoin, you can do the same for a few thousand dollars. Proceed to mining Deals are the primary function of the Filecoin network, and it represents an agreement between a client and miners for a “storage” contract. Once the customer decides to have a miner to store based on the available capacity, duration and price required, he secures sufficient funds in a linked portfolio to cover the total cost of the deal. The deal is then published once the mine accepts the storage agreement. By default, all Filecoin miners are set to automatically accept any deal that meets their criteria, although this can be disabled for miners who prefer to organize their deals manually. After the deal is published, the customer prepares the data for storage and then transfers it to the miner. Upon receiving all the data, the miner fills in the data in a sector, closes it, and begins to provide proofs to the chain. Once the first confirmation is obtained, the customer can make sure the data is stored correctly, and the deal has officially started. Throughout the deal, the miner provides continuous proofs to the chain. Clients gradually pay with money they previously closed. If there is missing or late evidence, the miner is punished. More information about this can be found in the Runtime, Cut and Penalties section of this page. At Filecoin, miners earn two different types of rewards for their efforts: storage fees and reward prevention. Storage fees are the fees that customers pay regularly after reaching a deal, in exchange for storing data. This fee is automatically deposited into the withdrawal portfolio associated with miners while they continue to perform their duties over time, and is locked for a short period upon receipt. Block rewards are large sums given to miners calculated on a new block. Unlike storage fees, these rewards do not come from a linked customer; Instead, the new FIL “prints” the network as an inflationary and incentive measure for miners to develop the chain. All active miners on the network have a chance to get a block bonus, their chance to be directly proportional to the amount of storage space that is currently being contributed to the network. Duration of operation, cutting and penalties “Slashing” is a feature found in most blockchain protocols, and is used to punish miners who fail to provide reliable uptime or act maliciously against the network. In Filecoin, miners are susceptible to two different types of cut: storage error cut, unanimously reduce error. Storage Error Reduction is a term used to include a wider range of penalties, including error fees, sector penalties, and termination fees. Miners must pay these penalties if they fail to provide reliability of the sector or decide to leave the network voluntarily. An error fee is a penalty that a miner incurs for each non-working day. Sector punishment: A penalty incurred by a miner of a disrupted sector for which no error was reported before the WindowPoSt inspection. The sector will pay an error fee after the penalty of the sector once the error is discovered. Termination Fee: A penalty that a miner incurs when a sector is voluntary or involuntarily terminated and removed from the network. Cutting consensus error is the penalty that a miner incurs for committing consensus errors. This punishment applies to miners who have acted maliciously against the network consensus function. Filecoin miners Eight of the top 10 Felticoin miners are Chinese investors or companies, according to the blockchain explorer, while more companies are selling cloud mining contracts and distributed file sharing system hardware. CoinDesk’s Wolfe Chao wrote: “China’s craze for Filecoin may have been largely related to the long-standing popularity of crypto mining in the country overall, which is home to about 65% of the computing power on Bitcoin at discretion.” With Filecoin approaching the launch of the mainnet blocknet — after several delays since the $ 200 million increase in 2017 — Chinese investors are once again speculating strongly about network mining devices and their premium prices. Since Protocol Labs, the company behind Filecoin, released its “Test Incentives” program on June 9 that was scheduled to start in a week’s time, more than a dozen Chinese companies have started selling cloud mining contracts and hardware — despite important details such as economics Mining incentives on the main network are still endless. Sales volumes to date for each of these companies can range from half a million to tens of millions of dollars, according to self-reported data on these platforms that CoinDesk has watched and interviews with several mining hardware manufacturers. Filecoin’s goal is to build a distributed storage network with token rewards to spur storage hosting as a way to drive wider adoption. Protocol Labs launched a test network in December 2019. But the tokens mined in the testing environment so far are not representative of the true silicon coin that can be traded when the main network is turned on. Moreover, the mining incentive economics on testnet do not represent how final block rewards will be available on the main network. However, data from Blockecoin’s blocknetin testnet explorers show that eight out of 10 miners with the most effective mining force on testnet are currently Chinese miners. These eight miners have about 15 petabytes (PB) of effective storage mining power, accounting for more than 85% of the total test of 17.9 petable. For the context, 1 petabyte of hard disk storage = 1000 terabytes (terabytes) = 1 million gigabytes (GB). Filecoin craze in China may be closely related to the long-standing popularity of crypt mining in the country overall, which is home to about 65% of the computing power on Bitcoin by estimation. In addition, there has been a lot of hype in China about foreign exchange mining since 2018, as companies promote all types of devices when the network is still in development. “Encryption mining has always been popular in China,” said Andy Tien, co-founder of 1475, one of several mining hardware manufacturers in Philquin supported by prominent Chinese video indicators such as Fenbushi and Hashkey Capital. “Even though the Velikoyen mining process is more technologically sophisticated, the idea of mining using hard drives instead of specialized machines like Bitcoin ASIC may be a lot easier for retailers to understand,” he said. Meanwhile, according to Feixiaohao, a Chinese service comparable to CoinMarketCap, nearly 50 Chinese crypto exchanges are often somewhat unknown with some of the more well-known exchanges including Gate.io and Biki — have listed trading pairs for Filecoin currency contracts for USDT. In bitcoin mining, at the current difficulty level, one segment per second (TH / s) fragmentation rate is expected to generate around 0.000008 BTC within 24 hours. The higher the number of TH / s, the greater the number of bitcoins it should be able to produce proportionately. But in Filecoin, the efficient mining force of miners depends on the amount of data stamped on the hard drive, not the total size of the hard drive. To close data in the hard drive, the Filecoin miner still needs processing power, i.e. CPU or GPU as well as RAM. More powerful processors with improved software can confine data to the hard drive more quickly, so miners can combine more efficient mining energy faster on a given day. As of this stage, there appears to be no transparent way at the network level for retail investors to see how much of the purchased hard disk drive was purchased which actually represents an effective mining force. The U.S.-based Labs Protocol was behind Filecoin’s initial coin offer for 2017, which raised an astonishing $ 200 million. This was in addition to a $ 50 million increase in private investment supported by notable venture capital projects including Sequoia, Anderson Horowitz and Union Square Ventures. CoinDk’s parent company, CoinDk, has also invested in Protocol Labs. After rounds of delay, Protocol Protocols said in September 2019 that a testnet launch would be available around December 2019 and the main network would be rolled out in the first quarter of 2020. The test started as promised, but the main network has been delayed again and is now expected to launch in August 2020. What is Filecoin mining process? Filecoin mainly consists of three parts: the storage market (the chain), the blockecin Filecoin, and the search market (under the chain). Storage and research market in series and series respectively for security and efficiency. For users, the storage frequency is relatively low, and the security requirements are relatively high, so the storage process is placed on the chain. The retrieval frequency is much higher than the storage frequency when there is a certain amount of data. Given the performance problem in processing data on the chain, the retrieval process under the chain is performed. In order to solve the security issue of payment in the retrieval process, Filecoin adopts the micro-payment strategy. In simple terms, the process is to split the document into several copies, and every time the user gets a portion of the data, the corresponding fee is paid. Types of mines corresponding to Filecoin’s two major markets are miners and warehousers, among whom miners are primarily responsible for storing data and block packages, while miners are primarily responsible for data query. After the stable operation of the major Filecoin network in the future, the mining operator will be introduced, who is the main responsible for data maintenance. In the initial release of Filecoin, the request matching mechanism was not implemented in the storage market and retrieval market, but the takeover mechanism was adopted. The three main parts of Filecoin correspond to three processes, namely the stored procedure, retrieval process, packaging and reward process. The following figure shows the simplified process and the income of the miners: The Filecoin mining process is much more complicated, and the important factor in determining the previous mining profit is efficient storage. Effective storage is a key feature that distinguishes Filecoin from other decentralized storage projects. In Filecoin’s EC consensus, effective storage is similar to interest in PoS, which determines the likelihood that a miner will get the right to fill, that is, the proportion of miners effectively stored in the entire network is proportional to final mining revenue. It is also possible to obtain higher effective storage under the same hardware conditions by improving the mining algorithm. However, the current increase in the number of benefits that can be achieved by improving the algorithm is still unknown. It seeks to promote mining using Filecoin Discover Filecoin announced Filecoin Discover — a step to encourage miners to join the Filecoin network. According to the company, Filecoin Discover is “an ever-growing catalog of numerous petabytes of public data covering literature, science, art, and history.” Miners interested in sharing can choose which data sets they want to store, and receive that data on a drive at a cost. In exchange for storing this verified data, miners will earn additional Filecoin above the regular block rewards for storing data. Includes the current catalog of open source data sets; ENCODE, 1000 Genomes, Project Gutenberg, Berkley Self-driving data, more projects, and datasets are added every day. Ian Darrow, Head of Operations at Filecoin, commented on the announcement: “Over 2.5 quintillion bytes of data are created every day. This data includes 294 billion emails, 500 million tweets and 64 billion messages on social media. But it is also climatology reports, disease tracking maps, connected vehicle coordinates and much more. It is extremely important that we maintain data that will serve as the backbone for future research and discovery”. Miners who choose to participate in Filecoin Discover may receive hard drives pre-loaded with verified data, as well as setup and maintenance instructions, depending on the company. The Filecoin team will also host the Slack (fil-Discover-support) channel where miners can learn more. Filecoin got its fair share of obstacles along the way. Last month Filecoin announced a further delay before its main network was officially launched — after years of raising funds. In late July QEBR (OTC: QEBR) announced that it had ceded ownership of two subsidiaries in order to focus all of the company’s resources on building blockchain-based mining operations. The QEBR technology team previously announced that it has proven its system as a Filecoin node valid with CPU, GPU, bandwidth and storage compatibility that meets all IPFS guidelines. The QEBR test system is connected to the main Filecoin blockchain and the already mined filecoin coin has already been tested. “The disclosure of Sheen Boom and Jihye will allow our team to focus only on the upcoming global launch of Filecoin. QEBR branch, Shenzhen DZD Digital Technology Ltd. (“ DZD “), has a strong background in blockchain development, extraction Data, data acquisition, data processing, data technology research. We strongly believe Filecoin has the potential to be a leading blockchain-based cryptocurrency and will make every effort to make QEBR an important player when Mainecoin mainnet will be launched soon”. IPFS and Filecoin Filecoin and IPFS are complementary protocols for storing and sharing data in a decentralized network. While users are not required to use Filecoin and IPFS together, the two combined are working to resolve major failures in the current web infrastructure. IPFS It is an open source protocol that allows users to store and transmit verifiable data with each other. IPFS users insist on data on the network by installing it on their own device, to a third-party cloud service (known as Pinning Services), or through community-oriented systems where a group of individual IPFS users share resources to ensure the content stays live. The lack of an integrated catalytic mechanism is the challenge Filecoin hopes to solve by allowing users to catalyze long-term distributed storage at competitive prices through the storage contract market, while maintaining the efficiency and flexibility that the IPFS network provides. Using IPFS In IPFS, the data is hosted by the required data installation nodes. For data to persist while the user node is offline, users must either rely on their other peers to install their data voluntarily or use a central install service to store data. Peer-to-peer reliance caching data may be a good thing as one or multiple organizations share common files on an internal network, or where strong social contracts can be used to ensure continued hosting and preservation of content in the long run. Most users in an IPFS network use an installation service. Using Filecoin The last option is to install your data in a decentralized storage market, such as Filecoin. In Filecoin’s structure, customers make regular small payments to store data when a certain availability, while miners earn those payments by constantly checking the integrity of this data, storing it, and ensuring its quick recovery. This allows users to motivate Filecoin miners to ensure that their content will be live when it is needed, a distinct advantage of relying only on other network users as required using IPFS alone. Filecoin, powered by IPFS It is important to know that Filecoin is built on top of IPFS. Filecoin aims to be a very integrated and seamless storage market that takes advantage of the basic functions provided by IPFS, they are connected to each other, but can be implemented completely independently of each other. Users do not need to interact with Filecoin in order to use IPFS. Some advantages of sharing Filecoin with IPFS:
Filecoin and IPFS CIDs share hash specifications.
Use libp2p by Filecoin nodes to create secure connections with each other.
Messaging between nodes and cluster propagation is facilitated in Filecoin by libp2p pubsub.
IPLD use for blockchain data structures.
Use Graphsync to transfer data between nodes.
Of all the decentralized storage projects, Filecoin is undoubtedly the most interested, and IPFS has been running stably for two years, fully demonstrating the strength of its core protocol. Filecoin’s ability to obtain market share from traditional central storage depends on end-user experience and storage price. Currently, most Filecoin nodes are posted in the IDC room. Actual deployment and operation costs are not reduced compared to traditional central cloud storage, and the storage process is more complicated. PoRep and PoSt, which has a large number of proofs of unknown operation, are required to cause the actual storage cost to be so, in the early days of the release of Filecoin. The actual cost of storing data may be higher than the cost of central cloud storage, but the initial storage node may reduce the storage price in order to obtain block rewards, which may result in the actual storage price lower than traditional central cloud storage. In the long term, Filecoin still needs to take full advantage of its P2P storage, convert storage devices from specialization to civil use, and improve its algorithms to reduce storage costs without affecting user experience. The storage problem is an important problem to be solved in the blockchain field, so a large number of storage projects were presented at the 19th Web3 Summit. IPFS is an important part of Web3 visibility. Its development will affect the development of Web3 to some extent. Likewise, Web3 development somewhat determines the future of IPFS. Filecoin is an IPFS-based storage class project initiated by IPFS. There is no doubt that he is highly expected. Resources :
**Last updated: May 30, 2018: Updated wallet info with release of Trinity. This 4 part series from the IOTA foundation covers most of the technical FUD centered at IOTA. https://blog.iota.org/official-iota-foundation-response-to-the-digital-currency-initiative-at-the-mit-media-lab-part-1-72434583a2 Also the official IOTA faq on iota.org answers nearly all of these questions if you want to hear the answers directly. Purpose of Writing Since posting FUD is so ridiculously low-effort in comparison to setting the record straight, I felt it necessary to put a log of copy-pastas together to balance the scales so its just as easy to answer the FUD as it was to generate it. So next time you hear someone say "IOTA is centralized", you no longer have to take an hour out of your day and spin your wheels with someone who likely had an agenda to begin with. You just copy-paste away and move on. It's also worth mentioning IOTA devs are too damn busy working on the protocol and doing their job to answer FUD. So I felt a semblance of responsibility. Here they are. These answers are too my understanding so if you see something that doesn't look right let me know! They are divided into the following categories so if you are interested in a specific aspect of IOTA you can scroll to that section. 1) WALLET 2) COMMUNITY 3) INVESTING 4) TECHNICAL
IOTA was hacked and users funds were stolen!
First, IOTA was not hacked. The term “hacked” is thrown around way too brazingly nowadays and often used to describe events that weren’t hacks to begin with. Its a symptom of this space growing way too fast creating situations of the blind leading the blind and causing hysteria. What happened: Many IOTA users trusted a certain 3rd party website to create their seed for their wallets. This website silently sent copies of all the seeds generated to an email address and waited till it felt it had enough funds, then it took everyones money simultaneously. That was the ”hack”. https://blog.iota.org/the-secret-to-security-is-secrecy-d32b5b7f25ef The lesson: The absolute #1 marketed feature of crypto is that you are your own bank. Of everything that is common knowledge about crypto, this is at the top. But being your own bank means you are responsible for the security of your own funds. There is no safety net or centralized system in place that is going to bail you out. For those that don’t know (and you really should if you’ve invested in anything crypto), your seed is your username-pw-security question-backup email all rolled into one. Would you trust a no-name 3rd party website to produce your username+pw for your bank account? Because thats essentially what users did. The fix: Make your seed offline with the generators in the sidebar or use dice. This is outlined in the “how to generate wallet and seed” directly following. The trinity and carriota wallets will have seed generators within them upon their release.
How to generate wallet and seed
1) Download official trinity wallet here 2) follow the instructions on the app. 3) Do not run any apps in conjunction with the trinity app. Make sure all other apps are completely closed out on your device.
Are you sure a computer can’t just guess my seed?
An IOTA seed is 81 characters long. There are more IOTA seed combinations than atoms in the universe. All the computers in the world combined would take millions billions of years just to find your randomly generated one that’s located somewhere between the 0th and the 2781st combination. The chance for someone to randomly generate the exact same seed as yours is 1 / (2781). If you can’t fathom the number 27 ^ 81, this video should help: https://www.youtube.com/watch?v=p8YIdmwcubc
Download Bolero and run! Bolero is an all-in-one full node install package with the latest IOTA IRI and Nelson all under a one-click install! https://github.com/SemkoDev/bolero.fun/releases "If you want to help the network then spam the network. If you really want to help the network then create a full node and let others spam you!"
No questions or concerns get upvoted, only downvoted!
That’s just the nature of this business. Everyone in these communities has money at stake and are extremely incentivized to keep only positive news at the top of the front page. There is nothing you're going to do about that on this subreddit or any crypto subreddit. It's just a reddit fact of life we have to deal with. Everyone has a downvote and everyone has an upvote. But what can be done is just simply answer the questions even if they are downvoted to hell. Yea most people wont' see the answers or discussion but that one person will. every little bit counts. I will say that there are most certainly answers to nearly every FUD topic out there. Every single one. A lot of the posts I'm seeing as of late especially since the price spike are rehashed from months ago. They are often not answered not because there isn't an answeexplanation, but because regulars who have the answers simply don't see them (for the reason listed above). I can see how it's easy for this to be interpreted (especially by new users) as there not being an answer or "the FUDsters are on to something" but thats just not the case.
IOTA Devs do not respond appropriately to criticism
When critiquers provide feedback that is ACTUALLY useful to the devs, then sure they'll be glad to hear it. So far not once has an outside dev brought up something that the IOTA devs found useful. Every single time it ends up being something that was already taken into consideration with the design and if the critiquer did an ounce of research they would know that. Thus you often find the IOTA devs dismissing their opinion as FUD and responding with hostility because all their critique is really doing is sending the message to their supporters that they are not supposed to like IOTA anymore. Nick Johnson was a perfect example of this. The Ethereum community was co-existing [peacefully]with IOTA’s community (as they do with nearly all alt coins) until Nick wrote his infamous article. Then almost overnight Ethereum decided it didn’t like IOTA anymore and we’ve been dealing with that shit since. As of today, add LTC to that list with Charlie’s (even admitting) ignorant judgement of IOTA. 12/17/2017: Add John McAfee (bitcoin cash) and Peter Todd (bitcoin) to the list of public figures who have posted ignorantly on IOTA.
A lot of crypto communities certainly like to hate on IOTA...
IOTA is disrupting the disrupters. It invented a completely new distributed ledger infrastructure (the tangle) that replaces the blockchain and solves all of its fundamental problems (namely fees and scaling). To give you an idea of this significance, 99% of the cryptocurrencies that exist are built on a block chain. These projects have billions of dollars invested into them meaning everyone in their communities are incentivized to see IOTA fail and spread as much FUD about it as possible. This includes well known organizations, public figures, and brands. Everyone commenting in these subreddits and crypto communities have their own personal money at stake and skin in the game. Misinformation campaigns, paid reddit posters, upvote/downvote bots, and corrupt moderators are all very real in this space.
All IOTAs that will ever exist were sold at the ICO in 2015. There was no % reserved for development. Devs had to buy in with their personal money. Community donated back 5% of all IOTA so the IOTA foundation could be setup.
No inflation schedule? No additional coins? How is this sustainable?
Interestingly enough, IOTA is actually the only crypto that does not run into any problems with a currency cap and deflationaryism. Because there are zero fees, you will always be able to pay for something for exactly what it's worth using IOTA, no matter how small the value. If by chance in the future a single iota grows so large in value that it no longer allows someone to pay for something in fractions of a penny, the foundation would just add decimal points allowing for a tenth or a hundreth or a thousandth of an iota to be transacted with. To give you some perspective, if a single IOTA equals 1 penny, IOTA would have a 27 trillion dollar market cap (100x that of Bitcoin's today)
IOTA is not for P2P, only for M2M
With the release of the trinity wallet, it's now dead simple for anyone to use IOTA funds for P2P. Try it out.
Companies technically don’t have to use the IOTA token
Yes they do Worth clarifying that 0 iota data transactions are perfectly fine and are welcomed since they still provide pow for 2 other transactions and help secure the network. In the early stages, these types of transactions will probably be what give us the tps/pow needed to remove the coordinator and allow the network defend 34% attacks organically. But... if someone does not want to sell or exchange their data for free (0 IOTA transaction), then Dominic is saying that the IOTA token must be used for that or any exchange in value on the network. This is inherently healthy for the ecosystem since it provides a neutral and non-profit middle ground that all parties/companies can trust. If one company made their own token it wouldn’t be trusted since companies are incentivized by profits and nothing is stopping them from manipulating their token to make them more money. Thus, the IOTA foundation will not partner with anyone who refuses to take this option off the table.
All these companies are going to influence IOTA development!!
These companies have no influence on the development of IOTA. They either choose to use it or they don’t.
Internet of things is cheap and will stay cheap
Internet of things is one application of IOTA and considered by many to be the 4th industrial revolution. Go do some googling. IOTA having zero fees enables M2M for the first time in history. Also, if a crypto can do M2M it sure as shit can do M2P and P2P. M2M is hard mode.
Investing in a project in its early stages was something typically reserved for wealthy individuals/organizations before ICO’s became a thing. With early investing comes much less hand holding and more responsibility on the user to know what they are doing. If you have a hard time accepting this responsibility, don’t invest and wait for the technology to get easier for you. How many people actually knew how to use and mine bitcoin in 2009 before it had all its gui infrastructure? IOTA is a tangle, the first of its kind. NOT a copy paste blockchain. As a result wallets and applications for IOTA are the first of their kind and translating the tangle into a nice clean user-friendly blockchain experience for the masses is even more taxing.
Why is the price of my coin falling?!
This may be the most asked question on any crypto subreddit but it's also the easiest to explain. The price typically falls when bad things happen to a coin or media fabricates bad news about a coin and a portion of investors take it seriously. The price increases when good things happen to a coin, such as a new exchange listing or a partnership announced etc.. The one piece that is often forgotten but trumps all these effects is something called "market forces". Market forces is what happens to your coin when another coin gets a big news hit or a group of other coins get big news hits together. For example, when IOTA data marketplace released, IOTA hit a x5 bull run in a single week. But did you notice all the other alt coins in the red? There are a LOT of traders that are looking at the space as a whole and looking to get in on ANY bull action and will sell their other coins to do so. This effect can also be compounded over a long period of time such as what we witnessed when the bitcoin fork FOMO was going on and alt coins were squeezed continuously to feed it for weeks/months. These examples really just scratch the surface of market forces but the big takeaway is that your coin or any coin will most certainly fall (or rise) in price at the result of what other coins are doing, with the most well known example being bitcoin’s correlation to every coin on the market. If you don't want to play the market-force game or don't have time for it, then you can never go wrong buying and holding. It's also important to note that there are layers of investors. There's a top layer of light-stepping investors that are a mixture of day traders and gamblers trying to jump in and jump out to make quick money then look for the next buying (or shorting) opportunity at another coin. There's a middle layer of buyers and holders who did their research, believe in the tech and placing their bets it will win out in the long run. And the bottom layer are the founders and devs that are in it till the bitter end and there to see the vision realized. When a coin goes on a bull run, always expect that any day the top layer is going to pack up and leave to the next coin. But the long game is all about that middle layer. That is the layer that will be giving the bear markets their price-drop resistance. That is why the meme "HODL" is so effective because it very elegantly simplifies this whole concept for the common joe and makes them a part of that middle layer regardless if they understand whats going on or not.
How is IOTA free and how does it scale
IOTA is an altruistic system. Proof of work is done in IOTA just like bitcoin. Only a user’s device/phone must do pow for 2 other transactions before issuing one of its own. Therefore no miners and no fees. And the network becomes faster the more transactions are posted. Because of this, spamming the network is encouraged since they provide pow for 2 other transactions and speed up the network.
IOTA is centralized
IOTA is more decentralized than any blockchain crypto that relies on 5 pools of miners, all largely based in China. Furthermore, the coordinator is not a server in the dev’s basement that secretly processes all the transactions. It’s several nodes all around the globe that add milestone transactions to show the direction of the IF’s tangle within the DAG so people don’t accidentally follow a fork from a malicious actor. Anyone with the know-how can fork the tangle right now with a double-spend. But no one would follow their fork because the coordinator reveals which tangle is the legit IF one. If the coordinator wasn’t there (assuming low honest-transaction volume), there would be no way to discern which path to follow especially after the tangle diverges into forks of forks. Once throughout of honest transactions is significant enough, the “honest tangle” will replace the coordinated one and people will know which one to follow simply because it’s the biggest one in the room. Referencing the coordinator is also optional. Also, if you research and understand how IOTA intends to work without the coordinator, it’s easier to accept it for now as training wheels. I suggest reading pg 15 and on of the white paper analyzing in great depth how the network will defend different attack scenarios without a coordinator. For the past several months, IOTA foundation has been using St Petersburg college’s super computer to stress test IOTA and learn when they can turn the coordinator off. There will likely be a blog about the results soon. This is another great read covering double spends on IOTA without a coordinator: www.tangleblog.com/2017/07/10/is-double-spending-possible-with-iota/ This too: http://www.reddit.com/Iota/comments/7eix4a/any_iota_guru_that_can_explain_what_this_guy_is/dq5ijrm Also this correspondence with Vitalik and Come_from_Beyond https://twitter.com/DavidSonstebo/status/932510087301779456 At the end of the day, outstanding claims require outstanding evidence and folks approaching IOTA with a “I’ll believe it when I see it” attitude is completely understandable. It’s all about your risk tolerance.
Masked authenticated messages exist right now so data can be transferred privately. Very important for businesses.
Centralized coin mixer is out that foundation runs. Logs are kept so they can collect data and improve it Folks can copy the coin mixer code and run it themselves. Goal is for mixer to be decentralized and ran by any node.
How do nodes scale? How on earth can all that data be stored?
Full nodes store, update and verify from the last snapshot, which happens roughly every month. Its on the roadmap to make snapshotting automatic and up to each full node’s discretion.With automatic snapshots, each full node will act as a partial perma-node and choose when to snapshot its tangle data. If someone wants to keep their tangle data for several months or even years, they could just choose not to snapshot. Or if they are limited on hard drive space, they could snapshot every week. Perma-nodes would store the entire history of the tangle from the genesis. These are optional and would likely only be created by companies who wish to sell historical access of the tangle as a service or companies who heavily use the tangle for their own data and want to have quick, convenient access to their data’s history. Swarm nodes are also in development which will ease the burden on full nodes. https://blog.iota.org/iota-development-roadmap-74741f37ed01
Over the last several days I've been looking into detail at numerous aspects of the now infamous CTOR change to that is scheduled for the November hard fork. I'd like to offer a concrete overview of what exactly CTOR is, what the code looks like, how well it works, what the algorithms are, and outlook. If anyone finds the change to be mysterious or unclear, then hopefully this will help them out. This document is placed into public domain.
What is TTOR? CTOR? AOR?
Currently in Bitcoin Cash, there are many possible ways to order the transactions in a block. There is only a partial ordering requirement in that transactions must be ordered causally -- if a transaction spends an output from another transaction in the same block, then the spending transaction must come after. This is known as the Topological Transaction Ordering Rule (TTOR) since it can be mathematically described as a topological ordering of the graph of transactions held inside the block. The November 2018 hard fork will change to a Canonical Transaction Ordering Rule (CTOR). This CTOR will enforce that for a given set of transactions in a block, there is only one valid order (hence "canonical"). Any future blocks that deviate from this ordering rule will be deemed invalid. The specific canonical ordering that has been chosen for November is a dictionary ordering (lexicographic) based on the transaction ID. You can see an example of it in this testnet block (explorer here, provided this testnet is still alive). Note that the txids are all in dictionary order, except for the coinbase transaction which always comes first. The precise canonical ordering rule can be described as "coinbase first, then ascending lexicographic order based on txid". (If you want to have your bitcoin node join this testnet, see the instructions here. Hopefully we can get a public faucet and ElectrumX server running soon, so light wallet users can play with the testnet too.) Another ordering rule that has been suggested is removing restrictions on ordering (except that the coinbase must come first) -- this is known as the Any Ordering Rule (AOR). There are no serious proposals to switch to AOR but it will be important in the discussions below.
Two changes: removing the old order (TTOR->AOR), and installing a new order (AOR->CTOR)
The proposed November upgrade combines two changes in one step:
Removing the old causal rule: now, a spending transaction can come before the output that it spends from the same block.
Adding a new rule that fixes the ordering of all transactions in the block.
In this document I am going to distinguish these two steps (TTOR->AOR, AOR->CTOR) as I believe it helps to clarify the way different components are affected by the change.
Code changes in Bitcoin ABC
In Bitcoin ABC, several thousand lines of code have been changed from version 0.17.1 to version 0.18.1 (the current version at time of writing). The differences can be viewed here, on github. The vast majority of these changes appear to be various refactorings, code style changes, and so on. The relevant bits of code that deal with the November hard fork activation can be found by searching for "MagneticAnomaly"; the variable magneticanomalyactivationtime sets the time at which the new rules will activate. The main changes relating to transaction ordering are found in the file src/validation.cpp:
Function ConnectBlock previously had one loop, that would process each transaction in order, removing spent transaction outputs and adding new transaction outputs. This was only compatible with TTOR. Starting in November, it will use the two-loop OTI algorithm (see below). The new construction has no ordering requirement.
Function ApplyBlockUndo, which is used to undo orphaned blocks, is changed to work with any order.
When orphaning a block, transactions will be returned to the mempool using addForBlock that now works with any ordering (src/txmempool.cpp).
Serial block processing (one thread)
One of the most important steps in validating blocks is updating the unspent transaction outputs (UTXO) set. It is during this process that double spends are detected and invalidated. The standard way to process a block in bitcoin is to loop through transactions one-by-one, removing spent outputs and then adding new outputs. This straightforward approach requires exact topological order and fails otherwise (therefore it automatically verifies TTOR). In pseudocode:
for tx in transactions: remove_utxos(tx.inputs) add_utxos(tx.outputs)
Note that modern implementations do not apply these changes immediately, rather, the adds/removes are saved into a commit. After validation is completed, the commit is applied to the UTXO database in batch. By breaking this into two loops, it becomes possible to update the UTXO set in a way that doesn't care about ordering. This is known as the outputs-then-inputs (OTI) algorithm.
for tx in transactions: add_utxos(tx.outputs) for tx in transactions: remove_utxos(tx.inputs)
The UTXO updates actually form a significant fraction of the time needed for block processing. It would be helpful if they could be parallelized. There are some concurrent algorithms for block validation that require quasi-topological order to function correctly. For example, multiple workers could process the standard loop shown above, starting at the beginning. A worker temporarily pauses if the utxo does not exist yet, since it's possible that another worker will soon create that utxo. There are issues with such order-sensitive concurrent block processing algorithms:
Since TTOR would be a consensus rule, parallel validation algorithms must also verify that TTOR is respected. The naive approach described above actually is able to succeed for some non-topological orders; therefore, additional checks would have to be added in order to enforce TTOR.
The worst-case performance can be that only one thread is active at a time. Consider the case of a block that is one long chain of dependent transactions.
In contrast, the OTI algorithm's loops are fully parallelizable: the worker threads can operate in an independent manner and touch transactions in any order. Until recently, OTI was thought to be unable to verify TTOR, so one reason to remove TTOR was that it would allow changing to parallel OTI. It turns out however that this is not true: Jonathan Toomim has shown that TTOR enforcement is easily added by recording new UTXOs' indices within-block, and then comparing indices during the remove phase. In any case, it appears to me that any concurrent validation algorithm would need such additional code to verify that TTOR is being exactly respected; thus for concurrent validation TTOR is a hindrance at best.
Advanced parallel techniques
With Bitcoin Cash blocks scaling to large sizes, it may one day be necessary to scale onto advanced server architectures involving sharding. A lot of discussion has been made over this possibility, but really it is too early to start optimizing for sharding. I would note that at this scale, TTOR is not going to be helpful, and CTOR may or may not lead to performance optimizations.
Block propagation (graphene)
A major bottleneck that exists in Bitcoin Cash today is block propagation. During the stress test, it was noticed that the largest blocks (~20 MB) could take minutes to propagate across the network. This is a serious concern since propagation delays mean increased orphan rates, which in turn complicate the economics and incentives of mining. 'Graphene' is a set reconciliation technique using bloom filters and invertible bloom lookup tables. It drastically reduces the amount of bandwidth required to communicate a block. Unfortunately, the core graphene mechanism does not provide ordering information, and so if many orderings are possible then ordering information needs to be appended. For large blocks, this ordering information makes up the majority of the graphene message. To reduce the size of ordering information while keeping TTOR, miners could optionally decide to order their transactions in a canonical ordering (Gavin's order, for example) and the graphene protocol could be hard coded so that this kind of special order is transmitted in one byte. This would add a significant technical burden on mining software (to create blocks in such a specific unusual order) as well as graphene (which must detect this order, and be able to reconstruct it). It is not clear to me whether it would be possible to efficiently parallelize sorting algortithms that reconstruct these orderings. The adoption of CTOR gives an easy solution to all this: there is only one ordering, so no extra ordering information needs to be appended. The ordering is recovered with a comparison sort, which parallelizes better than a topological sort. This should simplify the graphene codebase and it removes the need to start considering supporting various optional ordering encodings.
Reversibility and technical debt
Can the change to CTOR be undone at a later time? Yes and no. For block validators / block explorers that look over historical blocks, the removal of TTOR will permanently rule out usage of the standard serial processing algorithm. This is not really a problem (aside from the one-time annoyance), since OTI appears to be just as efficient in serial, and it parallelizes well. For anything that deals with new blocks (like graphene, network protocol, block builders for mining, new block validation), it is not a problem to change the ordering at a later date (to AOR / TTOR or back to CTOR again, or something else). These changes would add no long term technical debt, since they only involve new blocks. For past-block validation it can be retroactively declared that old blocks (older than a few months) have no ordering requirement.
Summary and outlook
Removing TTOR is the most disruptive part of the upgrade, as other block processing software needs to be updated in kind to handle transactions coming in any order. These changes are however quite small and they naturally convert the software into a form where concurrency is easy to introduce.
In the near term, TTOR / CTOR will show no significant performance differences for block validation. Note that right now, block validation is not the limiting factor in Bitcoin Cash, anyway.
In medium term, software switching over to concurrent block processing will likely want to use an any-order algorithm (like OTI). Although some additional code may be needed to enforce ordering rules in concurrent validation, there will still be no performance differences for TTOR / AOR / CTOR.
In the very long term, it is perhaps possible that CTOR will show advantages for full nodes with sharded UTXO databases, if that ever becomes necessary. It's probably way too early to care about this.
With TTOR removed, the further addition of CTOR is actually a very minor change. It does not require any other ecosystem software to be updated (they don't care about order). Not only that, we aren't stuck with CTOR: the ordering can be quite easily changed again in the future, if need be.
The primary near-term improvement from the CTOR will be in allowing a simple and immediate enhancement of the graphene protocol. This impacts a scaling bottleneck that matters right now: block propagation. By avoiding the topic of complex voluntary ordering schemes, this will allow graphene developers to stop worrying about how to encode ordering, and focus on optimizing the mechanisms for set reconciliation.
Taking a broader view, graphene is not the magic bullet for network propagation. Even with the CTOR-improved graphene, we might not see vastly better performance right away. There is also work needed in the network layer to simply move the messages faster between nodes. In the last stress test, we also saw limitations on mempool performance (tx acceptance and relaying). I hope both of these fronts see optimizations before the next stress test, so that a fresh set of bottlenecks can be revealed.
Daily analysis of cryptocurrencies 20191105 (Market index 54— Neutral state)
https://preview.redd.it/nckyr1qb1vw31.jpg?width=1280&format=pjpg&auto=webp&s=54af97ca72f567d38a962224ab84464c5a258bd5 Coca-Cola Embraces Blockchain Technology Developed By SAPAlabama-based Coca-Cola has become the latest major corporation to recognize the advantages of blockchain technology.According to a recent Business Insider report, Coca-Cola’s bottlers now rely on the blockchain solution, which was developed by German software corporation SAP to keep track of all transactions that take place within 70 franchises. Æternity Blockchain Developers Take On Ethereum With Final HardforkThe core development team for Æternity, a next-generation, open-source blockchain for building decentralized applications, announced its LIMA hardfork on Nov 5, releasing the latest software to miners and in fact, handing over governance to the community. The third major æternity protocol upgrade this year, LIMA adds a sophisticated, improved Virtual Machine, governance, and naming system to challenge Ethereum and other blockchain platforms. Æternity is one of the most active blockchain developer communities measured by code activity. Core developers proposed hardfork, LIMA software release to miners, who will mine or not mine fork of aeternity blockchain. Bangkok Bank To Launch Blockchain-Based L/C Service Next MonthBangkok Bank (BBL) is set to roll out a blockchain-based letter of credit (L/C) service next month and aims for the innovative financial service to increase the bank’s trade finance business.The bank will use R3’s Corda-powered Voltron platform to digitise the L/C process, said executive director Charamporn Jotikasthira.BBL is the only Thai bank among the eight founding members of Voltron, which include BNP Paribas, HSBC, ING, and Standard Chartered Bank. Chinese Regulator Investigates Firm’s Blockchain Efforts Amid Stock SurgeAn obscure porcelain and education firm is under investigation by a top Chinese regulator after it became one of the most sought-after blockchain stocks last week.Guangdong Great Wall Group, whose stock price skyrocketed for five consecutive days last week after Chinese president XI Jinping praised blockchain technology, said it was under investigation by the China Securities Regulatory Commission. The investigation comes as the government appeals for “rational” investments in Chinese blockchain and fintech firms. https://preview.redd.it/l92x7g7b0vw31.png?width=504&format=png&auto=webp&s=dc8a2baef8563304f79bc5617f8d7ee08b85cc34 BTC — BTC rose rapidly in the early hours of this morning, reaching a maximum of $9645, now falling back to around $9400. In the past 24 hours, the net outflow of BTC funds is close to US $50 million, and the outflow of market funds is significantly increased compared with the previous cycle. BTC made a tentative pull in the early morning to test the upper resistance. In terms of the 4-hour line, the overall volume is not obvious, and the follow-up strength is insufficient, and the breakthrough is not successful. The domestic market is still dominated by shocks, and may withdraw again after the failure of short-term breakthrough to prepare for the next round of offensive. The upper resistance continued to focus around $9600, while the lower support continued to focus on $9000. In terms of operation, it is suggested to control the position and wait for the right opportunity to build the position. Review previous articles:https://firstname.lastname@example.org
Encrypted project calendar（November 5, 2019）
Nexus (NXS)：05 November 2019 Tritium Official Release “Remember, Remember the 5th of November, the day Tritium changed Distributed Ledger. Yes, this is an official release date.”NEM (XEM)：05 November 2019 Innovation Forum — Kyiv NEM Foundation Council Member Anton Bosenko will be speaking in the upcoming International Innovation Forum in Kyiv on November 5, 2019.TomoChain (TOMO):05 November 2019 TomoX Testnet “Mark your calendar as TomoX testnet will be live on Tuesday, Nov 5th!”aelf (ELF):05 November 2019 Bug Bounty Program Ends On Oct 24th, 2019 aelf’s biggest bug bounty will launch with a large reward pool. The event will run for almost 2 weeks.ICON (ICX):05 November 2019 Seoul Meetup “We are pleased to announce that the ICON x Steem DApp SEOUL MEETUP will be held in the ICON Lounge on November 5th.”Utrust (UTK):05 November 2019 Lisbon Meetup “We’re hosting a meetup for anyone interested in blockchain & crypto adoption! Industry leaders like Cointelegraph, BetProtocol & others…”Siacoin (SC):05 November 2019 Zurich Meetup “Join us Tuesday, Nov 5th in Zurich for a Sia meetup with CEO David, and devs Chris and PJ at@impacthubzurich.”OKB (OKB):05 November 2019 Simulation USDT Futures “NEW LAUNCH: The much-awaited $USDT-Margined Futures Trading will soon be available on #OKEx… Simulation launching Nov 5”
Encrypted project calendar（November 6, 2019）
STEEM/Steem:The Steem (STEEM) SteemFest 4 conference will be held in Bangkok from November 6th to 10th.KIM/Kimcoin:Kimcoin (KIM) Bitfinex will be online at KIM on November 6, 2019 at 12:00 (UTC).Nebulas (NAS):06 November 2019 Burn Deadline “Be sure to read this announcement & burn your $NAT by November 6th, 3:00p.m. (UTC+8, Beijing time).”Power Ledger (POWR):06 November 2019 Book Launch ATTN Perth Power Ledger community, we will be hosting renowned economist Ross Garnaut at our WA office for the launch of his latest book…
Encrypted project calendar（November 7, 2019）
XRP (XRP)： 07 November 2019 Swell 2019 Ripple hosts Swell from November 7th — 8th in Singapore.BTC/Bitcoin:Malta The A.I. and Blockchain summit will be held in Malta from November 7th to 8th.Waves (WAVES):07 November 2019 Joins Odyssey “#Waves is joining Odyssey… We’re kicking off on Nov. 7 at Polaris…”Komodo (KMD)and 1 other: 07 November 2019 Block Party Amsterdam Block Party Amsterdam in Amsterdam from 17:30–22:00.Horizen (ZEN):07 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（November 8, 2019）
BTC/Bitcoin:The 2nd Global Digital Mining Summit will be held in Frankfurt, Germany from October 8th to 10th.IOTX/IoTeX:IoTex (IOTX) will participate in the CES Expo on November 08TOP (TOP):08 November 2019 Mainnet Launch “So excited to announce that on November 8th, TOP Network will officially launch the mainnet…”OKB (OKB):08 November 2019 OKEx Talks — Valencia “Meet us at our next OKEx Talks in Valencia on 8 Nov with speaker Gustavo Segovia@sepu85who will look at the benefits of creating
Encrypted project calendar（November 9, 2019）
CENNZ/Centrality:Centrality (CENNZ) will meet in InsurTechNZ Connect — Insurance and Blockchain on October 9th in Auckland.HTMLCOIN (HTML):09 November 2019 (or earlier) Mandatory Wallet Update Mandatory Wallet Update: there will be a soft fork on our blockchain. This update adds header signature verification on block 997,655.
Encrypted project calendar（November 10, 2019）
Bibox Token (BIX):10 November 2019 Bibox Summit “Bibox Summit 2019 — Maximizing Profit On Uptrend Season” from 1 PM — 5 PM (ITV) in Ho Chi Minh City.
Encrypted project calendar（November 11, 2019）
PAX/Paxos Standard:Paxos Standard (PAX) 2019 Singapore Financial Technology Festival will be held from November 11th to 15th, and Paxos Standard will attend the conference.Crypto.com Coin (CRO):and 3 others 11 November 2019 Capital Warm-up Party Capital Warm-up Party in Singapore.GoldCoin (GLC):11 November 2019 Reverse Bitcoin Hardfork The GoldCoin (GLC) Team will be “Reverse Hard Forking” the Bitcoin (BTC) Blockchain…”Horizen (ZEN):11 November 2019 (or earlier) Horizen Giveaway — Nodes Horizen Giveaway — Win Free Node Hosting! Entries before November 11th.SINOVATE (SIN):11 November 2019 Roadmap V3 SINOVATE (SIN) Roadmap V3 will be released with new upcoming technologies and proof of concepts!
Encrypted project calendar（November 12, 2019）
BTC/Bitcoin:The CoinMarketCap Global Conference will be held at the Victoria Theatre in Singapore from November 12th to 13thBinance Coin (BNB)and 7 others: 12 November 2019 CMC Global Conference “The first-ever CoinMarketCap large-scale event: A one-of-a-kind blockchain / crypto experience like you’ve never experienced before.”Aion (AION)and 17 others: 12 November 2019 The Capital The Capital conference from November 12–13 in Singapore.Loom Network (LOOM):12 November 2019 Transfer Gateway Update “If you have a dapp that relies on the Transfer Gateway, follow the instructions below to make sure you’re prepared.”
Encrypted project calendar（November 13, 2019）
Fetch.ai (FET):13 November 2019 Cambridge Meetup “Join us for a@Fetch_ai#Cambridge #meetup on 13 November@pantonarms1.”Binance Coin (BNB)and 5 others: 13 November 2019 Blockchain Expo N.A. “It will bring together key industries from across the globe for two days of top-level content and discussion across 5 co-located events…”OKB (OKB):13 November 2019 Dnipro, Ukraine- Talks Join us in Dnipro as we journey through Ukraine for our OKEx Cryptour on 11 Nov.Centrality (CENNZ):13 November 2019 AMA Meetup “Ask our CEO@aaronmcdnzanything in person! Join the AMA meetup on 13 November in Singapore.”OKB (OKB):13 November 2019 OKEx Cryptotour Dnipro “OKEx Cryptour Ukraine 2019 — Dnipro” in Dnipro from 6–9 PM (EET).
Encrypted project calendar（November 14, 2019）
BTC/Bitcoin:The 2019 BlockShow Asia Summit will be held at Marina Bay Sands, Singapore from November 14th to 15th.Binance Coin (BNB):and 4 others 14 November 2019 BlockShow Asia 2019 BlockShow Asia 2019 at Marina Bay Sands Expo, Singapore from November 14–15.Basic Attention Token (BAT): 14 November 2019 London Privacy Meetup “If you’re in London on Nov. 14th, don’t miss our privacy meetup! The Brave research team, our CPO@johnnyryan, as well as@UoE_EFIHorizen (ZEN):14 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.IOTA (MIOTA):14 November 2019 Berlin Meetup From Construction to Smart City: IOTA, Maschinenraum & Thinkt Digital will explain, using concrete use cases, how to gain real value from..Dash (DASH):14 November 2019 Q3 Summary Call “Dash Core Group Q3 2019 Summary Call — Thursday, 14 November 2019”NEO (NEO):14 November 2019 NeoFest Singapore Meetup “Glad to have@Nicholas_Mertenfrom DataDash as our host for #NeoFest Singapore meetup on 14th Nov!”
Encrypted project calendar（November 15, 2019）
TRON (TRX):15 November 2019 Cross-chain Project “The #TRON cross-chain project will be available on Nov. 15th”Bluzelle (BLZ):15 November 2019 (or earlier) CURIE Release CURIE release expected by early November 2019.Zebi (ZCO):15 November 2019 ZEBI Token Swap Ends “… We will give 90 days to all the ERC 20 token holders to swap out their tokens into Zebi coins.”OKB (OKB):15 November 2019 OKEx Talks — Vilnius “Join us for a meetup on 15 Nov (Fri) for our 1st ever Talks in Vilnius, Lithuania.”
Encrypted project calendar（November 16, 2019）
Bancor (BNT): and 2 others 16 November 2019 Crypto DeFiance-Singapore “Crypto DeFiance is a new global DeFi event embracing established innovators, financial market disruptors, DApp developers…”NEM (XEM):16 November 2019 Developer’s Event “BLOCKCHAIN: Creation of Multifirma services” from 10:50 AM — 2 PM.
Encrypted project calendar（November 17, 2019）
OKB (OKB):17 November 2019 OKEx Talks — Lagos Join us on 17 Nov for another OKEx Talks, discussing the “Life of a Crypto Trader”.
Encrypted project calendar（November 18, 2019）
Maker (MKR):18 November 2019 MCD Launch “BIG changes to terminology are coming with the launch of MCD on Nov. 18th Say hello to Vaults, Dai, and Sai.”
Encrypted project calendar（November 19, 2019）
Lisk (LSK):19 November 2019 Lisk.js “We are excited to announce liskjs2019 will take place on November 19th. This all day blockchain event will include…”
Encrypted project calendar（November 20, 2019）
OKB (OKB):20 November 2019 OKEx Cryptour Odessa Ukr “Join us in Odessa as we journey through Ukraine for our OKEx Cryptour!”
Encrypted project calendar（November 21, 2019）
Cardano (ADA):and 2 others 21 November 2019 Meetup Netherlands (AMS) “This meetup is all about how to decentralize a blockchain, the problems and differences between Proof-of-Work and Proof-of-Stake…”Cappasity (CAPP):21 November 2019 Virtuality Paris 2019 “Cappasity to demonstrate its solution for the interactive shopping experience at Virtuality Paris 2019.”Horizen (ZEN):21 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.OKB (OKB):21 November 2019 OKEx Talks — Johannesburg “Join us the largest city of South Africa — Johannesburg where we will host our OKEx Talks on the 21st Nov.”IOST (IOST):22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key tech.OKB (OKB):22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “
Encrypted project calendar（November 22, 2019）
IOST (IOST):22 November 2019 Singapore Workshop Join the Institute of Blockchain for their 2nd IOST technical workshop in Singapore on 22 Nov 2019. The workshop includes IOST’s key techOKB (OKB):22 November 2019 St. Petersberg Talks “Join us in St. Petersberg on 22 Nov as we answer your questions on Crypto Security. “
Encrypted project calendar（November 27, 2019）
OKB (OKB):27 November 2019 OKEx Cryptour Vinnytsia “Join us in Vinnytsia as we journey through Ukraine for our OKEx Cryptour!”Fetch.ai (FET):27 November 2019 London Meetup “Join us on 27 November@primalbasehqto hear an exciting progress report as we prepare for the launch of our #mainnet”
Encrypted project calendar（November 28, 2019）
Horizen (ZEN):28 November 2019 Weekly Insider Team updates at 3:30 PM UTC/ 11:30 AM EDT: Engineering, Node network, Product/UX, Helpdesk, Legal, BD, Marketing, CEO Closing thoughts, AMA.
Encrypted project calendar（November 30, 2019）
Ethos (ETHOS):30 November 2019 (or earlier) Rebranding “In November, we unveil the broker token, a dynamic utility token to power our commission-free crypto trading and broker platform, Voyager.”Digitex Futures (DGTX):30 November 2019 Public Testnet Launch “…We can expect to see the world’s first zero-commission futures trading platform live on the Ethereum public testnet from 30th November.”Monero (XMR):30 November 2019 Protocol Upgrade “Preliminary information thread regarding the scheduled protocol upgrade of November 30.”Chiliz (CHZ):30 November 2019 (or earlier) Fiat to CHZ Exchanges “We will add another two fiat to $CHZ exchanges in November…”Skrumble Network (SKM):30 November 2019 (or earlier) P2P & Group Calling “P2P & Group Video Calling,” during November 2019.Aergo (AERGO):30 November 2019 (or earlier) Mainnet 2.0 Upgrade Mainnet 2.0 Protocol update by end of November.Akropolis (AKRO):30 November 2019 (or earlier) Beta Release “All functionality has been deployed to mainnet.”Nash Exchange (NEX):30 November 2019 (or earlier) Mobile Strategy Phase 2 “Phase 2 of our mobile strategy will be live soon with our wallet and portfolio app hitting stores in November!”
USD (DXY) up 0.08%, EUR down 0.04%, GBP down 0.50%, JPY down 0.12%, CNY Onshore up 0.12%, CNH Offshore up 0.02%, AUD down 0.23%
VIX up 0.65% to 9.25
Gold up 0.13% to $1,269.01
Silver down 0.11% to $16.62
Copper up 0.25% to $305.40
WTI Crude down 0.79% to $50.39
Brent Crude down 0.18% to $56.90
Natural Gas down 0.44% to $2.91
Corn down 0.07% to $3.49/bu
Wheat up 0.06% to $4.41/bu
Bitcoin up 1.55% to $4,414.56
Treasuries 2yr yields are up ~1.3bps at 1.500%, 10yr yields are up ~1.6bps at 2.364% and 30yr yields are up ~0.9bps at 2.899%
Japan 10yr yields 0.045%, up ~1.0bps on the day
France 10yr yields 0.750%, up ~1.9bps on the day
Italy 10yr yields 2.156%, up ~1.8bps on the day
Spain 10yr yields 1.704%, up ~1.8bps on the day
Germany 10yr yields 0.474%, up ~2.2bps on the day
What’s happening this morning? It was another slow evening of news other than the German Aug factory order numbers (which were very strong although the euro and Eurozone stocks are both in the red), a few US earnings reports (COST and YUMC), andsome M&A (GIMO, HON, JWN, PENN/PNK, SNCR, and more). The overall macro narrativeremains the same as it was at the Thurs close (see below for an update on the macro narrative as well as potential upcoming risks). The major Asian indices generally saw gains – TPX +0.28%, NKY +0.3%, Hang Seng +0.28%, HSCEI +0.54%, Taiwan +0.14%, Australia +1.04%, and India +0.5-7% (mainland China and Korea were both closed). There weren’t any huge themes in Asia although Macau casino stocks were weak in HK on back of underwhelming Golden Week visitor numbers (autos and financials led HK on the upside). Australia’s 1% rally was led by banks, miners, and telecoms. The major Eurozone indices are trading off small (~10-20bp); autos are outperforming while banks, retail, energy, and utilities lag. The GBP is extending its losses from Thurs amid more uncertainty around UK PM May (the DXY spiked ~50bp Thurs and is up small so far Fri morning). US S&P futures are trading down 1-2 points.
Calendar for Fri 10/6 – the focus will be on the US jobs report for Sept (8:30amET), US wholesale inventories/trade sales for Aug (10amET), US consumer credit for Aug (3pmET), and Fed speakers (Kaplan 8:30amET on CNBC, Bostic 9:15amET, Dudley 12:15pmET, Kaplan 12:45pmET, and Bullard 1pmET). o US jobs preview – there is very little anticipation or focus on the Sept jobs report (Fri morning 8/6 8:30amET) as 1) most are anticipating large storm-related distortions and 2) at this point in the cycle it only requires ~75K monthly adds to keep the UR steady (as was discussed in this JPMorgan report http://bit.ly/2fbT6cE). The St is in print at +80K for adds (vs. ADP for Sept at +135K and Aug BLS +156K) w/a 4.4% UR (unchanged w/Aug) and wages +0.3% M/M and +2.5% Y/Y (vs. Aug +0.1% M/M and +2.5% Y/Y). It’s very difficult to see the Sept BLS report changing the near-term US monetary policy trajectory (w/ongoing normalization and a FF hike on 12/13). The potential for a hike on 11/1 is very low and if anything the Sept CPI on Fri 10/13 may be a more important data point than jobs on Fri 10/6. Instead, the bigger Fed uncertainty has nothing to do w/data or policy but instead concerns staffing (i.e. who will be the next chair? A Trump announcement could come as soon as next week – Powell and Warsh are the frontrunners according to media reports w/the former appearing to have a slight edge).
Top Headlines for Friday
Eco data recap for Fri morning 10/6 – the big data came out of Germany where factory orders for Aug beat expectations by a wide margin (orders +3.6% M/M vs. the St +0.7% and +7.8% Y/Y vs. the St +4.7%). See JPMorgan’s comments on the German data (http://bit.ly/2y42sh4). Japan’s wage inflation figures for Aug were soft, as expected (http://bit.ly/2kuygr0). o Fed chair – markets would be comfortable w/any of the main candidates (including Powell, Warsh, Cohn, Yellen, etc.) w/the exception of one person: John Taylor. Bloomberg. o Fed update – Kansas City Fed President George spoke Thurs night and said the US economy needed further rates hikes (http://cnb.cx/2kqTiqj). JPMorgan’s Mike Feroli published an updated FOMC hawk/dove chart following the confirmation of Quarles (http://bit.ly/2z1jSti). o Japan’s “Party of Hope” unveils an economic agenda that pledges to rely less on aggressive fiscal and monetary stimulus – Reuters http://reut.rs/2ghahXu o AUD hit as RBA’s Harper doesn’t rule out a rate cut in a WSJ article. http://on.wsj.com/2xW3nkD
UK PM May the subject of more speculation amid disclosure of plot to topple her; former party chairman, Grant Shapps, said May’s leadership should now be challenged. Reuters http://reut.rs/2yMrmzB
Spain/Catalonia – Spain’s Constitutional Court ordered the suspension of the Catalan parliament’s regional session scheduled for Mon; Catalonia had planned on declaring independence at the session. Reuters http://reut.rs/2xlDfjC o Spain’s gov’t will change rules and make it easier for firms to move their legal base out of Catalonia – Reuters http://reut.rs/2z1WQCF
Tax update - there is a lot of focus on taxes in the US as the Senate Budget Committee (right at the Thurs close) and the full House (at ~1pmET Thurs afternoon) advance budget resolutions (the full Senate will presumably vote within the next two weeks). This is a necessary step in the tax process (as these resolutions contain the reconciliation instructions allowing tax to pass via a simple majority in the Senate) but also a relatively minor one. Far more complicated will be agreeing on rates, deduction schedules, deficits, etc., and if anything all the press in the last few days and weeks point to divisions within the GOP on these matters being larger than anticipated. o Schumer warns that the proposal to eliminate the SALT deduction will kill the GOP tax plan – Bloomberg. https://bloom.bg/2xXX8KL o GOP desire to repeal the estate tax runs into resistance - from Republicans. As a result this piece of the 9/27 tax blueprint (among others) may wind up being scrapped - WSJ. http://on.wsj.com/2gf9G8E o Fed officials express concern over tax plans – Fed officials warned the tax plan may only provide a temporary boost to growth while fueling inflation and driving debt to unsustainable levels – Reuters http://reut.rs/2xWMrdG
Republican headaches keep growing as donors withhold money, a tax consensus fails to materialize, and “establishment” figures depart the scene (Strange losing to Moore, Corker retiring, etc.). Republican leaders are increasingly concerned about the party’s grip on the House and Senate should it fail to pass a tax bill. Leaders “fear that the inchoate populism that Mr. Trump personifies, and which Mr. Bannon is attempting to weaponize against incumbents, is on the march” – NYT http://nyti.ms/2y3lUKT
Trump looks to jolt NAFTA – the White House is considering a proposal that would represent a radical shift to the principles underlying NAFTA. According to rule changes being considered, automobiles would need to have a specific level of US-made content in order to qualify for tariff breaks (right now autos only need to have a specific level of content from within the NAFTA region). WSJ. http://on.wsj.com/2y4LXlo
Trump makes cryptic comment ahead of a dinner with US military leaders. Trump said the dinner might represent “the calm before the storm”. Asked repeatedly by reporters to clarify his comments, Trump said, “You’ll find out” – Bloomberg https://bloom.bg/2xXI2r6
Trump was “furious” over NBC’s Tillerson “moron” article; John Kelly was forced to rearrange his schedule and stayed in Washington in order to try and calm tensions – NBC. http://nbcnews.to/2fOGx3B
Iran/Trump – Trump will “decertify” the Iran nuclear accord next week (speech on 10/12) and declare the agreement as not being in the US national interest according to the Washington Post (article out at ~2:40pmET Thurs afternoon). This is consistent w/what the AP and Politico reported earlier in the week. Note that Trump’s 10/12 declarations won’t end the Iranian nuclear pact as it will be up to Congress whether re-impose sanctions on Tehran (and Trump will hold off on recommending such a step). Washington Post http://wapo.st/2z1zeOw o Decertifying the Iran Deal Wouldn’t Have to Kill It – WSJ http://on.wsj.com/2y40dKY
North Korea – US lawmakers are pressuring the Trump White House to toughen sanctions against North Korea – WSJ. http://on.wsj.com/2xlKdVQ
The Economist's lead article this week speaks to sentiment at the moment and this is one of the big reasons why stocks are proving to be so resilient. "Asset prices are high across the board. Is it time to worry?" (http://econ.st/2xVXOjv). o The WSJ notes that a key European junk-bond index is now yielding less than 10yr US TSYs although it offers a reasonable explanation for this ostensibly irrational price level – WSJ. http://on.wsj.com/2xkwYVb
Company-specific news update from Thurs night. There were a few earnings reports out Thurs AMC but for the most part it was another slow evening. COST EPS beats thanks to better SG&A and favorable tax while GMs were light; Sept same-store-sales beat w/upside in the US (the stock ended down 3% during the Thurs after-hours trading session). YUMC’s results came in ahead of expectations (EPS/same-store-sales) and it increased capital return. SNCR reentered M&A talks w/Siris Capital (Siris is looking to buy SNCR’s Intralinks and may take a ~20% equity stake in SNCR); SNCR ended up ~27% during the Thurs after-hours trading session. According to the WSJ, HON is pursuing an acquisition of Evoqua Water Tech in a deal that could be worth $3B (http://on.wsj.com/2yseCSp). The WSJ reported (during trading on Thurs http://on.wsj.com/2xjE24p) on merger talks between PENN and PNK (the firms have been unable to agree to terms but PENN is still interested in buying PNK).
JWN buyout not completely dead – the Nordstrom family is exploring a new deal structure w/Leonard Green that would involve less debt. The family is trying to raise more equity (although it isn’t clear where the money will come from). WSJ. http://on.wsj.com/2ggTvbh
GIMO – Elliot’s takeover talks w/the company have ground to a halt according to Reuters over price disagreements – Reuters http://reut.rs/2fNCepo
SUM, ASHG – SUM has made a rival bid for ASHG as it looks to scuttle the existing Ash Grove-CRH PLC transaction. Ash Grove’s board said the offer could result in a superior proposal and that it would engage in talks with the third party. Bloomberg.
AMZN: the one market where Amazon is failing to dominate: Hollywood. The WSJ discusses AMZN’s failure to become a force in content. WSJ. http://on.wsj.com/2xZcJtr
Macau casino stocks slump during Fri trading as Golden Week visitor numbers disappoint expectations – Bloomberg https://bloom.bg/2fOuGmd
Identifying risks – what could go wrong?
Reflation enthusiasm is undercut by less aggressive CB normalization, dramatic curve flattening, and/or a softening in nominal growth. Of all the reflation pieces (monetary policy normalization, expansionary fiscal policy, firming inflation, and ongoing real growth strength), the last piece (real growth) is increasingly being taken for granted.
Bank investors wind up focusing too much on reflation/yields (which are tailwinds) but miss weakening credit (higher provisions) and tepid loan growth.
The first speech by the next Fed chair unsettles sentiment (assuming the chair isn’t Yellen).
The tax process slows in Washington as Republicans prove incapable of reaching a consensus on rates, deductions, and deficits.
Paul Ryan decides to “pull a Boehner”, stepping down as Speaker out of frustration with his inability to pass legislation.
The final tax bill results in materially higher rates for upper-income Americans.
May winds up stepping down as UK PM, sowing ongoing Brexit uncertainty.
Abe does much worse than anticipated during the upcoming Japan election (10/22).
North Korea conducts an above-ground nuclear bomb test (or even worse, an atmospheric test).
Iran decides to resume its nuclear weapons program, sparking an immediate escalation of Middle East geopolitical tensions (Trump’s Iran speech is coming up on 10/12).
Washington introduces (or threatens to introduce) tough new regulations aimed at internet/social media companies following the Russia election investigations (note that US internet giants will be testifying before Congress on 11/1).
Prominent members of the Trump team decide to leave the gov’t (the market would be particularly sensitive to Tillerson, Mattis, Kelly, and/or Cohn departing; recent media reports suggest the Tillerson-Trump relationship is particularly strained).
The pro-reflation bias commenced back on 9/11 and has been propelled ever since by ongoing real growth strength, firming inflation, normalizing monetary policy/rhetoric, and expansionary fiscal policy (in particular in the US w/the 9/27 tax blueprint but also in Germany following that country’s election outcome and fin min change).
This enthusiasm can extend for a few more weeks but the ECB/BOE decisions (on 10/26 and 11/2, respectively) will mark the culmination of a series of pro-reflation catalysts/developments and thus the trade may enter a period of extended consolidation around those central bank events.
Meanwhile the nuances of this present reflation process aren’t being appreciated – growth and corporate earnings are late-cycle (not early), multiples are already rich (although not necessarily ridiculous), inflation is only very gradually firming to target, the economy faces enormous structural headwinds in the form of labor supply and productivity growth, and while central banks are normalizing policy will stay extremely accommodative for years to come (the structural headwinds and slow tightening pace will prevent yields from materially rising and curves from significantly steepening).
The tenor of sentiment is beginning to evolve and there is definitely greater frustration w/people being forced to participate in a tape many don’t particularly love at present levels – this helps fuel runs such has occurred over the last few weeks (the SPX hasn’t closed in the red since Mon 9/25) but it also makes for a precarious setup w/a lot of weak “renters” who will be quick to sell the minute momentum pauses.
Bottom Line: the lack of major catalysts is helping the rally propagate and the calendar is relatively clear until earnings (which kick off w/banks on Thurs 10/12). The reflation impetus will likely stay in place into the ECB/BOE (10/26 and 11/2, respectively) after which a consolidation (at least) is likely (note that a lot of the “easy” tax steps are occurring now – the blueprint on 9/27, the budget resolutions, etc. However, reaching a consensus on rates, deductions, and deficits will be extremely difficult and this will become more apparent later in Oct and into Nov, around the same time as the ECB/BOE decisions).
Calendar of events to watch for the week of Mon Oct 9
Calendar for the week of 10/9 – overall it should be a relatively slow week although a few items are in focus. The current reflation emphasis makes the US CPI on Fri 10/13 prob. the single most important eco data point of the week but there are other numbers in focus (German trade/IP for Aug and China imports/exports for Sept). The CQ3 earnings season kicks off in earnest with the banks on Thurs and Friday. Away from scheduled events, media reports suggest Catalonia could formally declare independence on Mon (although this could easily be delayed following court challenges and as the region’s leaders seek a settlement w/Madrid) while the White House may unveil its infrastructure spending blueprint during the week of 10/9 (http://bit.ly/2wwiop9). South Korean security officials have warned that North Korea may fire additional missiles between 10/10 and 10/18 while Trump’s Fed chair selection could come soon (media reports suggest Powell and Warsh are the two frontrunners). Trump is expected to deliver an Iranian policy speech on/around Thurs 10/12 during which he will declare the nuclear deal as no longer being in the US national interest. HON has said it will announce its formal portfolio review decision prior to earnings (media reports, including on CNBC, suggest it will retain its aerospace unit).
Calendar for Mon 10/9 – the day should be pretty quiet owing to the US Columbus Day holiday (equities will be open but fixed income is closed). The focus will be on the China FX reserve numbers for Sept (Fri night/Sat morning 10/7), the China Caixin services PMI for Sept (Sun night/Mon morning), Germany’s industrial production for Aug (2amET), and earnings (LVMH reports results after the European close).
Calendar for Tues 10/10 – the focus will be on the German trade figures for Aug (2amET), a bunch of analyst meetings (including TECD, Santander, WDAY, and WMT), the PG shareholder meeting (at which the Trian/Peltz board seat request will be voted on), and earnings (CUDA after the close).
Calendar for Wed 10/11 – the focus will be on the US JOLTs report for Aug (10amET), Fed minutes from the 9/20 meeting (2pmET), analyst meetings (KR), and earnings (DAL, BLK, FAST, and OZRK before the open).
Calendar for Thurs 10/12 – the focus will be on Eurozone IP for Aug (5amET), the US PPI for Sept (8:30amET), Trump’s Iran speech, analyst meetings (BOX, HPQ, LSCC, and WDC), and earnings (C, DPZ, JPM, LNN, Sky PLC, and Tata Consultancy pre-open).
Calendar for Fri 10/13 – the focus will be on China’s imports/exports for Sept (Thurs night/Fri morning), the US CPI for Sept (8:30amET), US retail sales for Sept (8:30amET), the Michigan Confidence numbers for Oct (10amET), US business inventories for Aug (10amET), analyst meetings (SAFM), and earnings (BAC, DRFG, FHN, FRC, JBHT, Man Group, PNC, and WFC pre-open).
Catalysts – big events to watch over the coming months
China mainland markets closed Mon 10/2-Fri 10/6 for the National Day holiday.
US jobs report for Sept – Fri 10/6.
US infrastructure spending - the Trump White House may unveil its long-anticipated infrastructure plan during the week of 10/9 according to House Transport chairman Rep. Bill Shuster.
North Korea - South Korea’s national security adviser Chung Eui-yong said he expected Pyongyang to act around Oct. 10 and 18 (Reuters).
WMT analyst meeting – Tues 10/10 (note that KR has an analyst meeting the next day, Wed 10/11).
PG shareholder meeting – Tues 10/10 (decision to be made on Peltz’s board seat request).
Fed minutes – minutes from the 9/20 meeting will be released Wed 10/11. 2pmET.
HON – the co will announce its portfolio review decision before earnings in Oct.
Iran - Trump is planning to deliver an Iran policy speech on 10/12 and he is expected to say that the landmark 2015 nuclear deal is no longer in the U.S. national security interest (AP)
Bank earnings – the CQ3 earnings season kicks off w/Citigroup and JPM Thurs morning 10/12 while BAC, PNC, and WFC all report Fri 10/13.
US inflation – the Sept CPI will hit Fri 10/13.
IMF/World Bank - 2017 Annual Meetings of the World Bank Group and the International Monetary Fund. Oct 13-15 in Washington.
CQ3 earnings – the week of Mon 10/16 is the first busy week of the CQ3 reporting season.
Fed chair decision during the week of 10/16? Based on Trump’s “two to three” weeks comment (on Fri 9/29), his decision on a Fed chair could come as soon as the week of 10/16 (this week is also the first busy period of the CQ3 earnings season, the deadline for Trump to rule on the Iran nuclear deal, and the beginning of the China National Congress on 10/18). Media reports suggest the Fed chair frontrunners are Warsh and Powell followed by Yellen and Cohn.
China - the National Congress of the Communist Party of China starts Oct 18.
China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning) – Thurs morning 10/19.
EU leaders hold summit in Brussels. Oct 19-20. Brussels.
Japan – the country will hold snap elections on Sun 10/22.
Flash PMIs for Oct – Tues 10/24
ECB meeting/press conf. Thurs Oct 26. The ECB is expected to provide guidance on LSAP tapering at this meeting (St assumes LSAP drops from EU60B now to EU40B w/6 month extension).
1949: The Year That Set the Course of Chinese-American Relations – NYT http://nyti.ms/2z2hGSv M&A/Strategic Actions
Brooklyn Nets – multiple suitors are in talks to buy a 49% stake in the NBA deal. Mikhail Prokhorov is seeking a valuation of >$2B for the entire team. NY Post. http://nyp.st/2y3KFY0 o Brooklyn Nets – BABA denied that its vice chairman, Joseph Tsai, was in talks to buy a stake in the Nets – Reuters http://reut.rs/2yuCBRa
GIMO – Elliot’s takeover talks w/the company have ground to a halt according to Reuters over price disagreements – Reuters http://reut.rs/2fNCepo
HON - according to the WSJ, HON is pursuing an acquisition of Evoqua Water Tech in a deal that could be worth $3B (http://on.wsj.com/2yseCSp).
HPQ, Samsung – China said it will approve HPQ’s purchase of Samsung’s printer business – Reuters http://reut.rs/2y06khP
JWN buyout not completely dead – the Nordstrom family is exploring a new deal structure w/Leonard Green that would involve less debt. The family is trying to raise more equity (although it isn’t clear where the money will come from). WSJ. http://on.wsj.com/2ggTvbh
PENN, PNK - the WSJ reported (during trading on Thurs http://on.wsj.com/2xjE24p) on merger talks between PENN and PNK (the firms have been unable to agree to terms but PENN is still interested in buying PNK).
Retailers helped through bankruptcy process – Reuters notes that many retailers are obtaining help during the bankruptcy process w/many being allowed to stay in business w/their store bases largely intact – Reuters http://reut.rs/2y3NcAN
SNCR - On October 4, 2017, SNCR and Siris determined to restart discussions regarding a potential transaction. Specifically, Siris is offering to buy Intralinks for $915MM cash, invest $185MM for a convert worth ~20% of SNCR’s common shares, and cancel the ~6MM SNCR common shares it now owns.
SUM, ASHG – SUM has made a rival bid for ASHG as it looks to scuttle the existing Ash Grove-CRH PLC transaction. Ash Grove’s board said the offer could result in a superior proposal and that it would engage in talks with the third party. Bloomberg.
Unilever – the co is seeking PE bids for its spreads business by 10/19; a sale could be worth $8B – Reuters http://reut.rs/2fNDYPe
Full catalyst list
Fri Oct 6 – German factory orders for Aug. 2amET.
Fri Oct 6 – US jobs report for Sept. 8:30amET.
Fri Oct 6 – US wholesale inventories/trade sales for Aug. 10amET.
Fri Oct 6 – US consumer credit for Aug. 3pmET.
Fri Oct 6 – Fed speakers: Bostic, Kaplan, Bullard
Sat Oct 7 – China FX reserves for Sept (Fri night/Sat morning)
Mon Oct 9 – China Caixin services PMI for Sept (Sun night/Mon morning)
Mon Oct 9 – German industrial production for Aug. 2amET.
Mon Oct 9 – earnings after the European close: LVMH.
Mon Oct 9 – Columbus Day holiday in the US (equities will be open while fixed income is closed).
Tues Oct 10 – German trade balance for Aug. 2amET.
Tues Oct 10 – analyst meetings: TECD, Santander, WDAY, WMT
Tues Oct 10 – PG shareholder meeting
Tues Oct 10 – earnings after the close: CUDA
Wed Oct 11 – US JOLTs report for Aug. 10amET.
Wed Oct 11 – Fed minutes from the Sept 20 meeting (2pmET).
Wed Oct 11 – analyst meetings: KR
Wed Oct 11 – earnings before the open: BLK, DAL, FAST, OZRK.
Thurs Oct 12 – Eurozone industrial production for Aug. 5amET.
Thurs Oct 12 – US PPI for Sept. 8:30amET.
Thurs Oct 12 – analyst meetings: BOX, HPQ, LSCC, WDC.
Thurs Oct 12 – earnings before the open: C, DPZ, JPM, LNN, Sky PLC, Tata Consultancy.
Thurs Oct 12 – earnings after the close: EXFO
Fri Oct 13 – China imports/exports for Sept (Thurs night/Fri morning)
Fri Oct 13 – US CPI for Sept. 8:30amET.
Fri Oct 13 – US retail sales for Sept. 8:30amET.
Fri Oct 13 – US Michigan Sentiment for Oct. 10amET.
Fri Oct 13 – US business inventories for Aug. 10amET.
Fri Oct 13 – analyst meetings: SAFM
Fri Oct 13 – earnings before the open: BAC, DRFG, FHN, FRC, JBHT, Man Group, PNC, WFC.
Mon Oct 16 – China CPI/PPI for Sept (Sun night/Mon morning)
Mon Oct 16 – Eurozone trade balance for Aug. 5amET.
Mon Oct 16 – earnings before the open: SCHW
Mon Oct 16 – earnings after the close: BRO, IEX, NFLX, Rio Tinto
Tues Oct 17 – Eurozone Sept auto registrations. 2amET.
Tues Oct 17 – German ZEW survey results for Oct. 5amET.
Tues Oct 17 – US import prices for Sept. 8:30amET.
Tues Oct 17 – US industrial production for Sept. 9:15amET.
Tues Oct 17 – US NAHB housing index for Oct. 10amET.
Tues Oct 17 – earnings before the open: BMI, CMA, CSX, GS, GWW, HOG, JNJ, MS, Pearson, PLD, Remy Cointreau, UNH
Tues Oct 17 – earnings after the close: ADTN, BHP, CP, CREE, IBM, LRCX, NAVI.
Wed Oct 18 – US housing starts for Sept. 8:30amET.
Wed Oct 18 – US building permits fro Sept. 8:30amET.
Wed Oct 18 – US Beige Book. 2pmET.
Wed Oct 18 – earnings before the open: ABT, Akzo Nobel, MTB, NTRS, USB
Wed Oct 18 – earnings after the close: AA, AXP, BHE, CCI, CCK, EBAY, LLNW, SLG, TCBI
Thurs Oct 19 – China Q3 GDP and Sept retail sales, IP, and FAI (Wed night/Thurs morning)
Tues Oct 24 – earnings after the close: AKAM, AMP, CMG, COF, DFS, ESRX, IRBT, T, TSS, TXN.
Wed Oct 25 – US durable goods for Sept. 8:30amET.
Wed Oct 25 – US FHFA home price index for Aug. 9amET.
Wed Oct 25 – US new home sales for Sept. 10amET.
Wed Oct 25 – earnings before the open: ALK, ALLY, ANTM, Antofagasta, AOS, BA, BAX, Dassault Systemes, DPS, FCX, FLIR, Fresnillo, HBAN, Heineken, IP, IR, KO, LEA, LH, Lloyds Banking Group, NDAQ, NSC, NYCB, Peugeot, TMO, TUP, V, WBA, WEC.
Wed Oct 25 – earnings after the close: ABX, ACGL, AFL, AMGN, CLGX, DLR, FFIV, FTI, KIM, LSTR, NOW, ORLY, PKG, PLXS, RJF, TSCO, UNM, VAR, XLNX.
Thurs Oct 26 – US wholesale inventories for Sept. 8:30amET.
Thurs Oct 26 – US advance goods trade balance for Sept. 8:30amET.
Thurs Oct 26 – US pending home sales for Sept. 10amET.
Thurs Oct 26 – earnings before the open: Aixtron, ALLE, ALV, Anheuser Busch, APD, Bayer, BMY, BSX, BWA, CCMP, CELG, CHTR, CMCSA, CME, Deutsche Bank, ENTG, EQT, F, HLT, MMC, NEM, Nokia, ODFL, Santander, Schneider Electric, UNP, UPS, WM, XEL.
Thurs Oct 26 – earnings after the close: AIV, ATEN, CB, CDNS, EXPE, FLEX, FTNT, GILD, GOOG, HIG, INTC, LPLA, MSFT, NATI, PFG, SYK, VDSI, VRSN.
Fri Oct 27 – China Sept industrial profits (Thurs night/Fri morning).
Fri Oct 27 – US Q3 GDP, personal consumption, and core PCE for Q3. 8:30amET.
Fri Oct 27 – US Michigan Confidence numbers for Oct. 10amET.
Fri Oct 27 – earnings before the open: B, MRK, PSX, SC, TRU, Volkswagen, WY, XOM.
Mon Oct 30 – US personal income/spending and PCE for Sept. 8:30amET.
Mon Oct 30 – US Dallas Fed index for Oct. 10:30amET.
Mon Oct 30 – analyst meetings: CSX
Mon Oct 30 – earnings before the open: HSBC
Mon Oct 30 – earnings after the close: AVB, CGNX, RE, RTEC, VNO
Tues Oct 31 – US Employment Cost Index for Q3. 8:30amET.
Tues Oct 31 – US Case-Shiller home price index for Aug. 9amET.
Tues Oct 31 – US Chicago PMI for Oct. 9:45amET.
Tues Oct 31 – US Conference Board Sentiment readings for Oct. 10amET.
Tues Oct 31 – earnings before the open: ADM, AET, Airbus, AMT, Barclays, BNP, CMI, ECL, GGP, K, MA, OSK, PFE, XYL.
Tues Oct 31 – earnings after the close: APC, CHRW, CXO, WFT, X
Wed Nov 1 – US ADP jobs report for Oct. 8:15amET.
Wed Nov 1 – US Markit Manufacturing PMI for Oct. 9:45amET.
Wed Nov 1 – US Manufacturing ISM for Oct. 10amET.
Wed Nov 1 – US construction spending report for Sept. 10amET.
Wed Nov 1 – US auto sales for Oct.
Wed Nov 1 – FOMC meeting decision. 2pmET.
Wed Nov 1 – earnings before the open: AGN, APO, CLX, EL, GRMN, HFC, Novo Nordisk, ORBK, Standard Chartered, TAP, TRI.
Wed Nov 1 – earnings after the close: ALL, BHF, BXP, CAVM, CSGS, FB, LNC, MANT, MET, MUSA, OXY, PRU, QCOM, ULTI, XPO.
Thurs Nov 2 – US nonfarm productivity and unit labor costs for Q3. 8:30amET.
Thurs Nov 2 – earnings before the open: ADP, AN, BCE, CI, Credit Suisse, DISCA, H, ICE, Royal Dutch Shell, Sanofi, Swiss Re, WRK.
Thurs Nov 2 – earnings after the close: AAPL, AIG, CBS, CRUS, FLR, HLF, RMAX, SBUX, UNIT.
Fri Nov 3 – US jobs report for Oct. 8:30amET.
Fri Nov 3 – US trade balance for Sept. 8:30amET.
Fri Nov 3 – US factory orders and durable goods orders for Sept. 10amET.
Fri Nov 3 – US non-manufacturing ISM for Oct. 10amET.
Tues Nov 7 – US JOLTs jobs report for Sept. 10amET.
Tues Nov 7 – US consumer credit for Sept. 3pmET.
Thurs Nov 9 – US wholesale trade sales/inventories for Sept. 10amET.
Fri Nov 10 – US Michigan Confidence preliminary numbers for Nov. 10amET.
Tues Nov 14 – US PPI for Oct. 8:30amET.
Wed Nov 15 – US CPI for Oct. 8:30amET.
Wed Nov 15 – US Empire Manufacturing for Nov. 8:30amET.
Wed Nov 15 – US retail sales for Oct. 8:30amET.
Wed Nov 15 – US business inventories for Sept. 10amET.
Thurs Nov 16 – US import prices for Oct. 8:30amET.
Thurs Nov 16 – US industrial production for Oct. 9:15amET.
Thurs Nov 16 – US NAHB housing index for Nov. 10amET.
Fri Nov 17 – US housing starts and building permits for Oct. 8:30amET.
Mon Nov 20 – US Leading Index for Oct. 10amET.
Tues Nov 21 – US existing home sales for Oct. 10amET.
Wed Nov 22 – US durable goods for Oct. 8:30amET.
Wed Nov 22 – US final Michigan Confidence numbers for Nov. 10amET.
Wed Nov 22 – FOMC 11/1 meeting minutes. 2pmET.
Fri Nov 24 – US flash PMIs for Nov. 9:45amET.
J.P. Morgan Market Intelligence is a product of the Institutional Equities Sales and Trading desk of J.P. Morgan Securities LLC and the intellectual property thereof. It is not a product of the Research Department and is intended for distribution to institutional and professional customers only and is not intended for retail customer use. It may not be reproduced, redistributed or transmitted, in whole or in part, without J.P. Morgan’s consent. Any unauthorized use is strictly prohibited.
[OUTREACH] Monero Best Practices- Public Service Announcements [DRAFT]
We have completed a call for submissions to develop a series of Public Service Announcements type write-ups that articulate basic Best Practices for using Monero. Our goal is to turn these into a usable product that we will add to the Monero Outreach website (in progress), share with pool operators for their miners, and other potential groups who might benefit. I am posting the current DRAFT of the PSA content here, in hopes the community can take a look and submit any feedback they might have about the content: ------
It is nearing the end of 2018 and if you are in Monero, you are still an early adopter. The early adoption phase can be exciting, but things can move quite quickly and nefarious people can take advantage of those who are not utilizing best practices to stay ahead of the curve. Congratulate yourself for truly being an early adopter, and consider the best practices listed here in order to stay informed and keep your Monero safe and secure long into the future.
Your Monero wallet/s is your encrypted digital vault that contains your XMR and keeps it safe. If you want to make sure it stays that way, there are a few best practices you’ll want to follow in order to keep your wallet/s secure as possible. ‘Hot’ Wallets are wallets that are connected to the internet, while ‘cold’ wallets are not. Cold wallets are generally more secure, but they come at a sacrifice to convenience. A ‘hard’ wallet, like the popular Ledger or Trezor, might be viewed as the middle ground between hot and cold wallets because you can connect them to an internet connected device in order to send/receive, but when disconnected they are not accessible via the internet. Here are a few general best practices to be aware of when it comes to wallet security:
Only use wallets approved by the Monero community in order to avoid scams that might steal your XMR. Do your research before setting up any wallets.
If setting up a cold wallet (one example is a “paper” wallet) for long term storage, be sure to do your research and follow one of the tutorials online that have the strongest and most positive reviews/comments.
Consider keeping a cold wallet for XMR you plan on holding for a while, and a hot wallet for XMR you plan on spending or trading. Think: cold wallet=savings account, hot wallet=checking account.
Research the variety of ways people keep their private keys or mnemonic seeds safe and secure, then chose the option that works best for you. Having any strategy is much better than none at all. Are you seeing yet that research is important?
Follow other best practices here like never share your private keys, only use reputable exchanges, update your wallet/s after every network upgrade/hard fork, don’t talk about how much XMR you have, and always seek to learn more!
Know Your Exchange Safety
Exchanges can be a convenient way to sell or buy more Monero, but not all exchanges are created equally. Here are a few things to keep in mind when it comes to keeping your XMR safe while using exchanges.
Do your own research before using any exchange. Attempt to answer these questions:
Are there positive reviews available through third-party sources? Are they reliable?
Has it ever been attacked? Was the response to the attack appropriate?
How long has the exchange been in operation?
Are the creators/managers known or reputable individuals or entities?
Are you able to maintain your privacy by not sharing any personal information?
Does the website use security precautions like captcha, 2FA, etc? Does it have legitimate security certificates and start with https://?
If you plan on reporting taxes (recommended), does the exchange allow you to download reports for easy proof of buy/sell transactions?
Exchanges create their own wallets for you. You are not likely to have access to the exchange wallet’s mnemonic seed. If the exchange ends up getting attacked or proves to be a scam, you may lose whatever XMR you have on the exchange’s wallet. A good rule of thumb is to only keep XMR on an exchange if you plan to use it soon. Otherwise, move it to a wallet that you control.
If you want to trade a significant amount of XMR over an exchange, consider testing the transaction by trading a smaller amount first. This test amount should be no higher than you would be comfortable losing.
With any XMR transaction, always double-check the send/receive wallet addresses to make sure they are correct. Even if you copy/paste the address, confirm it was pasted correctly, as there are known attacks that will manipulate a cryptocurrency address when it is copy/pasted. If your device was somehow infected by that malware, a simple double-check to confirm it pasted properly is all you would need to protect your XMR.
As time goes on, decentralized exchanges will become more common. With Monero being a decentralized cryptocurrency, these exchanges are aligned with the ethos of Monero. Consider using them, but as always, do your research first!
Monero is a completely decentralized, open-source project. Anyone with a good idea and some initiative can create and lead a project in support of Monero. If you are not a developer and interested in supporting Monero in other ways, there are many options. Monero projects organize themselves into various workgroups. There is a Localization workgroup focused on translating all Monero content to help spur adoption throughout the world, an Outreach workgroup focused on creating tools to facilitate better public relations and greater adoption of Monero, and even a workgroup focused on developing a hardware wallet for Monero. Others exist too. If you are a developer, you can join a few hundred other developers to date who have contributed to Monero’s code, via GitHub. The first stop when it comes to community workgroup participation is the Community workgroup, which focuses on organizing all of the other workgroups. They will be able to tell you if your idea has already happened and which people to work with to take it even further. Or if your idea is brand new, they will connect you with some resources to help facilitate your idea coming to reality. Monero’s Core developers have provided us with a handful of tools to help enable successful workgroups, including Mattermost for communications and Taiga for project planning and task flow management. Individuals can also participate through lively discussions that happen on several different Slack and IRC channels, through many different Telegram group chats, on Reddit via Monero or the many subreddits dedicated to niche areas of Monero (like mining or speculating), and by asking or answering questions about Monero on Stack Exchange. The only barrier to you participating in the community is you. We invite you to join the cause and make this decentralized, open-source community even stronger!
Don’t Talk About How Much Monero You Have
Sayings like “Loose lips sink ships” and “Out of sight, out of mind”, exist for a reason. When you talk about how much Monero you have, you may inadvertently be making yourself a target. This is especially true in cases of online forums and social media. Attackers prowl the internet looking for people to reveal information about themselves that they might be able to take advantage of. Let’s just look at an example: Adam comments to Eve in a public comment on social media that he just bought 30 XMR. Badguy sees Adam’s comment and decides he wants those 30 XMR. Badguy scans Adam’s social media profile to learn all about him and with the information he gleans, is able to crack Adam’s password for his email account. Badguy then learns of other accounts Adam has and traces Adam back to his physical location via IP address. From that point Badguy can utilize a plethora of attacks to highjack Adam’s XMR remotely. Or if he lives close enough, Badguy can physically show up to Adam’s house, steal his computer, and take all the time he needs to crack into Adam’s Monero GUI wallet and send all of Adam’s XMR to his very own Badguy wallet. If Adam hadn't of said anything, he wouldn't have been a target at all. Obviously this is an exaggerated example, but in reality there are dozens of scenarios in which information you share can make you a target, and even more examples of how attackers can use that to their advantage and make you their next victim. Advocating for Monero and teaching new users about its many uses is one thing, boasting about how much XMR you own is another. It is advised to stick to the former and avoid the latter at all costs. Don’t talk about how much Monero you have.
Never Share Your Private Keys
Your Monero is safe, as long as your private keys and private mnemonic seed is safe. Your private keys and your private mnemonic seed are the only way you can access your wallet and spend/send your XMR. If you share them, then whoever you share them with (or whoever has the technical expertise to steal them from who you shared them with), has just as much access to your wallet as you do. You may think you are doing a good thing by keeping your private keys separate from your physical location, but what if grandma forgets your instructions and leaves them on the windowsill and a stranger walks by and reads (records) them? Then you wake up one morning and all of your XMR was sent to an unfamiliar address. Since Monero is so private, you will have no way of finding out who owns the unfamiliar wallet and you will not be able to recover your missing/stolen XMR. Sometimes other cryptocurrency projects will hard fork the Monero code then claim you will receive 10x coins, and “all you have to do to claim your 10x coins is share your private keys”. If you come across this, don’t touch it with a 100 foot pole. Not only are they probably trying to scam you, but they also may be trying to compromise the integrity of Monero as a whole. Scammers depend on your greed to do many nefarious things. Don’t let that happen to you or to Monero. The only thing you should ever share is your view key- and only if you want to be able to verify transactions going to your wallet for others to see. If that is of no use to you, then don’t share any keys. If someone is claiming they need anything besides your public wallet address (or in some cases your view key), they are probably attempting to scam you and steal your coins. Long story short- never share your private keys.
Know Your Hard Forks
Unless you are a developer, the term ‘hard fork’ may carry a lot of confusing and potentially negative connotations for you. After all, you may have read an article or two about hard forks and how it created contention or drama among certain crypto projects. Monero is not immune to hard forks, but they manifest in interesting ways. All of them are equally important to know about. The types of hard forks you may learn about in relation to Monero fall into three main categories: 1) Network Upgrade/ Regularly Scheduled Hard Fork- Monero developers aim to schedule two regular hard forks per year. These hard forks are always done by community consensus and led by Monero core developers. They typically include several improvements to the code, making Monero even bettefastestronger. It is imperative as a Monero user that you upgrade your Monero wallet/s every time this occurs, and it is no one’s responsibility to do so but your own. No one said being an early adopter was easy, but if you are paying attention, it’s not hard either. Other projects in the past have used Monero’s regularly scheduled hard forks to their own advantage and renamed their own projects on Monero’s old chains. These projects often fail in short time, and feed upon the greedy nature of individuals. If you fail to update your Monero wallet/s after one of these hard forks and send your XMR, you may end up losing them on a different chain or having to spend a significant amount of time trying to recover them. It is best to just upgrade your wallet/s after every regularly scheduled hard fork/network upgrade. Safety level: Upgrading your Monero wallet/s after these hard forks is your safest option and is recommended. Please proceed in a timely manner. 2) Hard Fork of New and Legitimate Projects- Some legitimate projects will fork away from Monero, utilizing its underlying code to pursue their own goals. There are a few factors to look for when determining whether the project is legitimate. If it is indeed legitimate, you will see:
No pre-mine of coins for the developers (the creation of coins will start from zero and anyone will be able to mine them)
No requirement to share private keys from the official Monero wallet/s
No controversy or excessive negative or alarming reviews by the Monero community about the project
Yes using their own development lessons learned to ‘give back’ to Monero by sharing them ‘upstream’ with the core Monero development team.
Safety level: If it is a legitimate coin, you will not be required to do anything with your existing Monero wallet/s to access it. Instead, you will be able to mine or buy them on your own. Proceed at your own best judgement. 3) Scam or Attack Hard Forks- These projects will look like the opposite of what was mentioned in the legitimate project category. They will likely have a pre-mine where only developers will receive a few thousand or million coins. They may require you to share your private Monero keys in order to ‘claim’ the new coins. There will likely be many negative posts by savvy Monero users who are sounding the alarm against the malicious project. They will have no intention to give back to the Monero community and may even be blatantly challenging it with hostile language. These projects are motivated by greed, both on the side of the developers and on the side of the users (read victims). In some cases, particularly in the case of projects asking individuals to share their private keys, they may be a deceptive attempt to attack the Monero network itself and weaken the privacy/anonymity of its users. Safety level: Strongly recommended to avoid these coins. Proceed at your own risk and in some cases, be aware you may also inadvertently weaken the Monero network through your participation in these coins.
Seek To Learn More
As of the time of this writing, common assumptions say a vast majority of the Monero community consists of early adopters who are more technologically savvy than an average layperson. Monero code has been worked on by a few hundred developers, which is many more than most crypto projects can claim. Some speculate one reason Monero price has not grown closer to Bitcoin is because the technology behind Monero is hard for laypeople to understand and comprehend its significance. But we early-adopters continue to march forward in hopes of Monero becoming more widely recognized and adopted. Monero 100 years from now will still depend upon people, people like you, working to safeguard its ecosystem and advancing the code even further. These are all reasons why we recommend people should always seek to learn more, especially if you’re not a developer. You can strengthen your ‘Monero literacy’ by consuming as much information as you can. By learning more about Monero’s features, the code, the open-source cypherpunk ethos that started it, and ways to improve security and privacy while using it, together we can make the Monero ecosystem even stronger. By having a strong grasp on all the aspects of Monero, you will also be able to speak to others about it and help drive greater adoption. You will feel more comfortable and confident while storing, using, and transacting XMR. Knowledge is power and it can change the world. Always seek to learn more… and do your own research! The future starts with you.
If you downloaded Just Cause 3 XL Edition RePack-SEYTER OR Far.Cry.3.Blood.Dragon.MULTi2.RePack-SEYTER and installed the repack, you should check your computer for a bitcoin miner. If you got any other recent repacks from Seyter elsewhere, I'd recommend checking those games as well. Better safe than sorry! The disinfection instructions:
Check Task Scheduler for a task named "InstallShield Updater" delete it if you see it.
Use 'Everything' search by voidtools to search for all folders that contain BOTH "issch.exe" and "libcurl.dll" in the SAME folder and delete it as this is the miner. There are legitimate things that use both of those filenames so be careful. The miner installs to either \Users\User\AppData\Roaming or \Users\User\AppData\Local\
The legit issch.exe file should be no larger than 100kB. The miner issch.exe file is around 1MB in size.
https://medium.com/@nytmarecrypto/anon-development-update-feb-26th-2019-657228e477d In the spirit of continued transparency, the ANON community admin and Development teams have begun regularly cadenced conference calls to stay abreast of development news, address questions and share community feedback. This consistent feedback loop aims to provide an aggregate platform for 2-way communication with the community. Meetings will spotlight current development focus, next tasks in queue, technical updates, Q&A, and community feedback.
Notes / Recap January & February 2019 Deliverables, Tasks, Open Issues
What is the current status of the zk-SNARKs vulnerability fix?Significant progress has been made on the zk-SNARKs vulnerability fix and the upgrade is pacing to deliver on schedule prior to the end of March. The majority of the required code has now been incorporated. With many libraries changed, the next week will primarily focus on smoothing out errors in compiling. Once smoothed out, the upgrade will then enter the testing phase. You can read more about our plan to address and timeline here. Will the vulnerability fix have any impact on the planned blockheight or spork activations scheduled?No, the fix has no impact on activations such as Superblocks go live or Development Fund reward split allocation. However, spork timing may be altered as required by network circumstances. i.e. the reward split change activation was delayed as we worked to get miner configuration corrected. How is ANON pacing with the development roadmap?The team has over delivered and is pacing ahead of schedule on the development roadmap. In January the team delivered all components of PHASE 1, and was also able to incorporate SPORKS ahead of schedule. ( a March / PHASE 2 component )
Masternode Collateral Change
New Reward Block Split
Sporks * (delivered ahead of schedule)
PHASE 2 components scheduled for MARCH are on pace with Sporks already completed and Superblock control and distribution ready to go live at block 43800. With the urgency of the zk-SNARKs vulnerability taking precedence — Sapling components have swapped places with Masternode+for the period, essentially pulling the update earlier. This will leave fleshing out what remains of Sapling and Masternode+ for the focus of the two months in PHASE 3. What were the final results of the Coin Burn?At the end of January 2019, ANON hit the long anticipated blockheight of 37,000. This marked the end of the ANON claim period from BTC and ZCL holdings. Since September 10th 2018 — the following were transmuted into ANON: 5,012,100.034231079 BTC1,733,174.679775752 ZCL-T (transparent)8,633.47816196002 ZCL-Z (shielded) A grand total of 6,753,908.19216905 ANON were distributed to the holders of Bitcoin and ZClassic. From the ANON blockheight of 37,000 onwards, no further claims may be made. Combined with ANON mined post fork, the total circulating supply of ANON is 7.97M (at the time of writing). The current supply is live on the ANON block explorer.
Since the remaining ANON was left unclaimed,approximately 24 million were forever ‘burned’ (removed).
This leaves ANON’s MAX Supply at 20,228,644. It is important to note that this is the upper potential level, and may not be reached due to further burning of unused Superblock rewards. 7.97M ANON Circulating Supply (at time of writing)20.2M ANON Max Supply (upper limit) Was the blockchain stoppage on Feb 14th avoidable?No — The Superblock allocation activation at Blockheight # 39420 created some nuance that needed to be adjusted by the miners. This was an unforeseen issue that was not apparent until the Superblock allocation went live. It was promptly identified, clarified, and the chain moved again. What were the blockchain issues that occurred earlier in the month?Two weeks prior to the Block 37,000 changes, ANON developers released ANON v2.0.0. On the 5th of February, ANON began experiencing blockchain issues. It was observed that after block 37,000, blocks were being mined without issuing payments to Masternodes. This was an issue the team expected, and were prepared to issue a SPORK (SPORK_8_MASTERNODE_PAYMENT_ENFORCEMENT) to combat this. The function of the spork was to ENFORCE masternode payments, and effectively BAN the miner from the network. Unfortunately, when the ANON core team issued the SPORK, they discovered that nodes on the network were not enforcing the payment check. To bring the network back to normal operation, ANON v2.1.0 was released, and all relevant groups (such as Exchanges, Wallets, Mining Pools etc.) were advised of the update. In some cases, nodes remained on the wrong chain, and the development team subsequently issued ANON v2.1.1 on the 7th of February. Once the updates were applied and hash put back into the network, the ANON blockchain resumed normal functionality. Has ANON worked to refine the process for the mining community?Yes — The ANON development team completed work ahead of the Block 41,000 implementation of the development fund reward split activation. As most pools utilize “s-nomp”, the team had issued a pull request on GITHUB to ensure that the transition occurs as seamlessly as possible. The pull request has been merged. The spork activation occurred with network monitoring in place, and the development fund allocation is now live. What is the status of the Co-Pay Wallet?An updated BETA release is scheduled to release for testing internally next week. The wallet now has full functionality of Z transactions, full node capability and Governance and Masternode visibility tools (not creation). An updated release with full Masternode and Governance controls within the wallet are in scope for a MAAPR release once focus can shift away from the priority zk-SNARKS vulnerability fix. The team is currently working to resolve a user experience issue on Windows where unpacking in a directory path with a space in it is causing problems. What are the statuses of our existing Exchanges? At the time of writing, Cryptopia have yet to issue a formal statement regarding the path forward towards either re-opening, or releasing ANON held. It is our understanding that the ANON held there remains in their wallet and was not compromised. Recent posts on their socials indicate they are working to clarify solvency and the way forward. Trade Satoshi has placed the ANON wallet “under maintenance” prior to the coin burn and maintained that the update was in progress with the wallet team for weeks through multiple contacts. After the Zcash exploit came to light we received further clarification that the wallet would now remain closed until the vulnerability was addressed by the ANON team. They were notified that the fix is in progress and our ETA. IDAX continues to be an exchange available to those wishing to trade ANON. Recently IDAX had published noticed that ANON had been scheduled for delisting. After further discussion the exchange has opted to retain ANON for the time being, but expressed their desire to see increased trading volume. Safe Trade has has done exceedingly well throughout, updating within hours of new code being released, and keeping the community informed. They are establishing themselves as a very responsive and reputable exchange of choice. Currently, they are maintaining manual deposits of ANON until more is known about the Zcash exploit fixes to be made. What is the status of the Coinone Exchange Listing?It has been confirmed that the exchange does not currently, nor ever did, have ANON slotted for new listing. Unfortunately, the Coinone listing negotiation was falsified by bad actors. Though diligence was taken to verify sources; the scammers had a convincing and sophisticated network to falsify their credibility. This combined with intentional obfuscation under the guise of a language barrier proved to be a challenge to detect. A total of 1.5 BTC was paid for listing, which is now unrecoverable. Though regrettable — key learnings from this experience have been gleaned and adopted to help navigate future negotiations and further mitigate risk. Are there plans for additional exchanges?The team has made initial contact and submitted application for a select group of exchanges believed to be adequate for the project’s needs. Some of these suggestions have come directly from the community. As responses are received, we will juxtapose these opportunities with the market conditions and evaluate the best course of action. We want to ensure ANON has the liquidity necessary for trading, accumulation and wider exposure. We also want to ensure care is taken so that the existing exchange volume is augmented and not further partitioned. Can CoinMarketCap be updated to reflect the correct circulating supply?We have submitted the information and API feeds for CMC to update our supply metrics. However, the closure of Cryptopia and maintenance of Trade Satoshi have presented obstacles for the update to circulating supply to occur. Daily volume on tracked exchanges ( SafeTrade is not tracked at this time ) have been insufficient for CMC to derive meaningful market capitalization. Furthermore, there is a required minimum of 3 active exchanges to give the price metrics the weight and spread to be a true representation of the market. When exchange liquidity resumes, be it by re-opening or new sources, we will revisit and have updated. What is the SUPERBLOCK funding mechanism?With the activation at blockheight 39420, 2.5 ANON (5% of the block reward) will not be mined with each block. A larger “Superblock” will generate at the end of each period containing this withheld ANON to be automatically distributed to passing proposals for the cycle ( > 25% absolute YES ). The first Superblock will generate beginning block 43,800. Subsequent superblocks will generate every 4380 blocks (approx. 30 days). When will Governance control of SUPERBLOCKS go live?Direct governance control of Superblock funding is scheduled to go live after block 43800. When will the Development Fund portion (10%) of the reward split go live? The development fund reward split activation occurred via Spork at block 41000. Community Request — Can the ANON Block Explorer be updated to reflect the block finding pool? The ANON Block Explorer API has been updated to reflect the “MINED BY” party. This was a request made by the mining community and relayed to the development team. Community Request — Can the ANON Block Explorer be updated to reflect the CIRC and MAX supply? This has been completed and can be viewed on the Block Explorer “Status” page. https://explorer.anonfork.io/insight/status Community Request — Can the Masternode treasury funding be moved to a public address? The masternode treasury funding is now located on a public wallet: https://explorer.anonfork.io/insight/address/AnbBKBUXh7GTx7DpHMydoa5EDQdn4Jp4rUB Community Question - Why was the genesis block so small?At the time of the fork, ANON had switched to a new equihash algorithm that was much harder to find a solution for. Subsequently the developers decreased the difficulty on the genesis block to minimize the time it would take. Community Question — Was ANON susceptible to the BTCP Hack exploit?ANON was not affected by the issue that caused the BTCP hack. Although our code did present the same vulnerability — it was only actionable during a brief period when the set of airdrop blocks were initially mined. We are well beyond that point in time. The vulnerability was never exploited and it cannot be actioned now. Likewise, our mining of the airdrop UTXO was done internally in a closed circle that did not invite external miners. In the case of BTCP, external miners inserted additional records in the UTXO when the commit went through. We have run a script to analyze ANON’s UTXOs and have confirmed that no additional UTXOs were added. Will the team implement any measures to address the current hashrate?A proprietary official ANON mining pool is currently in development / testing. More details to come in the near future. Can the official ANON website be updated / redesigned? A full update to the ANON website has been in progress and will work to incorporate more of our available assets and resources. Anticipated release in early MARCH. Will the white paper be updated to reflect the many changes since being written? A white paper refresh has been completed and is undergoing additional rounds of edits. Anticipated release in conjunction with the website in early MARCH. Will there be another ANON bounty program?Current resources are deployed on the vulnerability fix, exchange liquidity and development pathing. If another bounty were to occur it would be when resolution to these issues come into focus. What is the status of Bounty 2.0 distribution?Bounty 2.0 ended December 30th 2018. Due to the Cryptopia hack, we asked for wallet verification from all participants before sending ANON earned. Delayed distribution began Jan 20th 2019. Verification and distribution will remain an open process through March 30th 2019, allowing participants 10 weeks to follow instructions to confirm details and receive their ANON.
On March 31st 2019 all unverified wallets and unclaimed ANON will be forfeited.
They can withdraw their initial deposit any time and schedule withdrawals quickly and easily through our website. If you have been looking for an easy to use Bitcoin investment platform, choose digitminer.com now and let our professionals help you choose an investment plan that meets your needs today! UK registered company . 3554. Total Members. $ 4211459.96. Total Deposited. $ 3798203.42 ... Bitcoin relies on a specific hash function called SHA-256. This is only important insofar as the nature of SHA-256 has led to an arms race of increasingly efficient computer chips purpose-built for Bitcoin mining. It is no longer possible to mine Bitcoin at a profit using commercially available computer hardware, like a GPU or CPU. In order to compete, miners must use a device called an ASIC ... Bitcoin Miner for Windows - GuiMiner is Free Software - Easy-to-Use Mining Essentials to Earn Bitcoins - Download it Now and Start Mining! Intel Corporation's current logo, used since 2006. This app was launched in early 2015 to help users control Intel single-board computers and Intel NUC. Discover features, configurations, specifications, reviews, pricing, and where to buy for IntelВ® NUC ... Follow the website’s instructions to buy your Bitcoin Cash (BCH) or Bitcoin (BTC). Your coins will appear in the exchange's wallet connected to your exchange account. Finally, move your Bitcoin to your personal wallet to keep it more secure. Selling Bitcoin On the Bitcoin.com Wallet. Tap the Discover tab (middle tab button at the bottom). 2️. Scroll through services to find Crypto2Cash and ... The useful removal instructions for the RiskWare.BitCoinMiner GPU Miner. The detailed procedure can be followed by anyone as it really does take you step-by-step. If you follow this process to remove RiskWare.BitCoinMiner GPU Miner let us know how you managed by sending us your comments please.
Bitcoin Basics (Part 1) - "Explained For Beginners" - YouTube
BFGMiner on Mac Setup Guide ----- BFGMiner website: http://www.bfgminer.org Install ASICMiner driver: http://www.si... Get Started: http://mobile.triplemining.com Download your bitcoin miner here: http://guiminer.org Instructions to get started on mining: 1. Create an account... This video will show you how to start bitcoin mining from home. It's very easy and "free" to do if you have a gaming PC. *****... Mining Plan Purchase : https://me.miningcity.com/referral-register/vase855 Bitcoin Wallet Hack How to get Bitcoins Brute force 2020 How can I avoid being so gullible and easily deceived? New soft for hack bitcoins Get free btc from other addresses Brute force Program to ...