Archived threads in /biz/ - Business & Finance - 3963. page

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In this video I'm gonna attempt to explain some ideas behind a blockchain to you. I'll try to do this by playing with a system that shares some mayor similarities with it.

A blochchain is a seqeunce (the "chain") of blocks (data structures with information entries).

For cryptocurrencies, the information entries are data like "Alice pays 0.34 BTC to Jerry", i.e. some string/sentence of information , although the nature of the information is not so relevant for the blockchain as such. It could also be something like "Next friday I should go buy milk".

In this thread, we could as information any 3 letter word. Like "man" or "bob".

I'll introduce a very cheap kind of almost hasing. At the bottom we have a list of how to translate letters to numbers. Given two letters, we gonna have one act on the other by adding the numbers and translating it back. Examples
* b=2 and f=6. Now 2+6 is 8, which is associated with h. So we say b+f -> h
* j=10 and c=3. Now 10+3 is 13, which is associated with m. So we say j+c -> m

a = 1
b = 2
c = 3
d = 4
e = 5
f = 6
g = 7
h = 8
i = 9
j = 10
k = 11
l = 12
m = 13
n = 14
o = 15
p = 16
q = 17
r = 18
s = 19
t = 20
u = 21
v = 22
w = 23
x = 24
y = 25
z = 26
We're gonna say 27 maps back to 1 and 28.

We gonna have two lines. One "information line", and one "previous hash" line. On the first block, there is no "previous", so I'll arbitrary set it to "ccc".

Finally, given any three numbers, I'll do some WORK by multiplying them together. For example, ccc translates to 3 3 3 and 3*3*3=27.

I'll now start the block chain, and my first information will be "man"

BLOCK 1:
>"man"
>ccc, 27
->
>pdq

To explain again, m=13 and c=3, so the first hash letter is 16, which is p. And so on.
My second information is gonna be the word bob.
For the "previous hash" line, I obviously take the hash from the last line.

BLOCK 2:
>"bob"
>pdq, 1088
->
>rss

Okay, now the block is on.

Give me a 3 letter word!

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>What is Blocknet?
Blocknet is a platform which allows communication between different blockchains. The team are currently pushing for a softfork and new ui in the next few weeks which will allow users to easily trade coins in a decentralised manner.

>What is the advantage of using Blocknet rather than other 'decentralised' exchanges
Blocknet is the first truly decentralised trading platform. With a platform such as WAVES there are 3 parties involved: the buyer, seller, and arbitrator. Blocknet involves atomic swapping which means an order is put through on the blocknet wallet i.e. Seller A wants x amount of btc for x amount of ltc. Seller B puts the order through the Blocknet client and the protocol withdraws x amount of ltc from seller A's litecoin wallet and x amount of btc from seller B's btc wallet instantaneously. No intermediaries needed.

>Why use Blocknet?
A massive problem with crypto at the moment is the way exchange security is handled. Mtgox and the high rates of hacking cases in bittrex are an example. With Blocknet there is no reliance on a centralised wallet, centralised orderbook or centralised order fulfillment.

>What is in the works for Blocknet?
New UI releasing next few weeks as well as DEX launching. SPV wallets coming soon.

Website: https://blocknet.co/
Twitter: https://twitter.com/the_blocknet
Slack: http://blocknet.herokuapp.com/

TLDR;
>Fully decentralized exchange.
>Trustless atomic swaps across blockchains (already developed and available for testing).
>Decentralized exchange goes to main net in a few weeks.
>Similar "products" are 2+ years behind in development.
>No one has heard of the Blocknet yet. Low marketcap and price.

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It's being traded again on Bittrex.

3M market cap.


x10 today?
tomorrow?

good luck.

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>Wanted to participate in STATUS
>Remember too late to open Parity
>Needs to sync 100k blocks at 5blocks/s
>Won't be done for like 6 hours

Oh, golly
Feels good to be retarded

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Post yfw when you realize that the real crypto bubble have just started to inflate with the recent increase in normie awareness.

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TAKEOFF SOOOON BUUYYYYYYYYYYYYYYYYYYYYYYYY BEFORE IT'S TOO LATE!!!!!!!!!!!!!!!!!!!!!!!!!

DON'T SAY I DIDN'T WARN YOU /BIZ/ BUY BUY BUY BUY NOW

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What are good sources of information both on future P&D coins and medium/long-term coins like eth? Youtube channels, forums etc.

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Is anyone else betting a large chunk of their portfolio on a low market cap coin with potential?

Just in case it eventually moons hard and you become "that guy" who bought a hundred thousand ___coin super cheap, thus making you a millionaire instantly

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>100k fags GET IN.


What are your goals? 1M and cash out? Or much longer?

Why?

Share stories of success, no FUDing.

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AAHAHHAHHA what the FUCK? Could you imagine a professional project writing this? You really gave this guy tens of millions of dollars? Why, exactly, did you do that?

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>Strap in

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I know it's not totally /biz/ related but you guys are smart, so I'm asking here.

I'm going to propose to my girlfriend very soon and I need a ring. I earn about AUD $400 a week and live with my parents. Yes, I know I am not in a great place to propose but it needs to be done.

Any tips for buying engagement rings on a budget?

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I make $21 an hour and under Australian law I'll be making $25 an hour in 2 years assuming I never get promoted. That's more than most Americucks make in white collar jobs. I have way too much money after paying my bills and entertainment and put the rest into cryptos but my friends and family encourage me to go find another job. Any white collar crap pays more or less the same amount and this is a lot more fun than staring at graphs and spreadsheets on the computer for hours each day.

Are they right?

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ANS is about to moon get it now for round two bois

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ITS ON THE MOVE