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Epic Cash Vitex Exchange AMA

What is EPIC CASH?
Epic Cash is the final point in the journey toward true P2P internet cash, the cornerstone of a private financial system. The Epic currency aims to become the world’s most effective privacy-protecting form of digital money. In order to fulfill that goal, it satisfies the three principal functions of money:
1. Store of Value — can be saved, retrieved, and exchanged at a later time, and of predictable value when retrieved;
2. Medium of Exchange — anything accepted as representing a standard of value and exchangeable for goods or services;
3. Unit of Account — the unit by which the value of a thing is accounted for and compared.
Website: http://epic.tech Whitepapers: http://epic.tech/whitepaper Epic Cash Community: https://t.me/EpicCash Miner Chat: https://t.me/EpicMiners Gitlab: gitlab.com/epiccash Twitter: twitter.com/EpicCashTech Social Media: http://epic.tech/social-media Exchanges: https://epic.tech/service-list
Oleg✌🏻
Hello community! Our AMA with EPIC begins🚀 We are very happy to have you here, on our joint AMA👌 So, lets start! The very first question for you. Can you introduce yourself?
Max Freeman | Epic Cash | Mimblewimble I’m Max Freeman, which stands for “Maximum Freedom for Mankind” — we believe that the existing fiat money system enslaves people by unfairly confiscating their wealth through inflation. By using an honest money system such as Epic, we can improve the quality of life for billions of people worldwide.
Yoga Dude Hello, I am Yoga Dude 🙂 I handle Marketing and PR, in crypto since 2011 started as Bitcoin miner, and in 2014 in Monero, and in 2015 in Ethereum, oh and briefly in DOGE for fun and unexpected profit. Heard about Epic Cash while learning about the Mimblewimble algo and joined the team last year.
JLong I am John, Doing the general engineering and managerial work
Max Freeman | Epic Cash | Mimblewimble I have been involved in early stage cryptos for the past 3 years, after building a global trading business for the past 20 years.
Oleg✌🏻 nice to meet you🙂
Max Freeman | Epic Cash | Mimblewimble Epic is a decentralized community project like Bitcoin or Monero, there is no central authority or corporation involved. We had no ICO and no premine, we had a fair launch at 0 supply last September.
Yoga Dude Great to meet everyone :)
Oleg✌🏻 Here we go the 1st question for you ~ 1. What is Epic Cash about?
Yoga Dude Epic Cash is designed to fulfill Satoshi’s original vision of P2P electronic cash, adjusting for what we learned from Bitcoin, a medium of exchange that is fast, free, open to all, while being private and fungible. We launched in September 2019 as a Proof of Work mineable crypto, without an ICO or a premine.
Oleg✌🏻 Look like a real Bitcoin🙂
Yoga Dude with privacy and fungibility 😄
Oleg✌🏻 Sounds cool! move on to the next question… 2. What makes Epic Cash better than Monero or other privacy coins?
Max Freeman | Epic Cash | Mimblewimble First off, we have a lot of respect for Monero and other privacy coins, we learned a lot from what they did right and what they did wrong, Our blockchain is much lighter than Monero or Bitcoin, our transaction engine is faster than Monero or ZCash. We use a three mining algo approach to allow more users the ability to obtain Epic Cash. We are a new, highly undervalued, coin and we look great not only for future use but for today's investment. Our blockchain is 90+% smaller than Monero or Bitcoin. Coins such as Zcash have optional privacy. Epic makes all transactions private, and it is impossible to trace movements of coins by watching wallet addresses.
Oleg✌🏻 Young and hot😋 security and privacy level is very important now but… 3. Why copy the same supply economics as Bitcoin?
Yoga Dude It is hard to compete with the success of Bitcoin today, part of the elegance and the appeal of Bitcoin is the responsible emission rate, terminating at 21million highly sub dividable coins. Like the Bitcoin supply curve, Epic Cash encourages early adopters, and with subsequent halvenings maintains a gradually diminishing flow of additional currency while preserving the overall value.
Max Freeman | Epic Cash | Mimblewimble In 2028, the supply of Epic matches that of Bitcoin and they stay in sync until the final coin is mined in 2140. We have 4 halvenings between now and then, which is demonstrated in Bitcoin to drive the value over market cycles. Epic is a chance for people who were late to Bitcoin to ride the wave and not miss their opportunity this time.
Oleg✌🏻 Interesting! 4. Why Choose Epic Cash over Grin and Beam?
Max Freeman | Epic Cash | Mimblewimble First of all, we have tremendous respect for all Mimblewimble currencies and their talented teams, they all taught us a lot and we are thankful for that. Without sounding too contentious, the choice seems obvious. We offer the same core tech, but with a much more responsible emission curve — Grin is an endless fountain of emission and inflation (60 per second forever), and Beam is even more frontloaded outpacing even Grin’s aggressive emission schedule for the next several years… We respect Grin and Beam, we learned from them, and we believe we are the next evolutionary step. Additionally, as we mentioned earlier, we offer more ways to mine Epic Cash, both with GPU and CPU and ASICs, this gives us more potential users and miners, vs Grin and Beam that are only mineable with GPUs.
Yoga Dude Yes, all that ☝️😄
Oleg✌🏻 I hope the miners read it all carefully 👌 Next question 5. Why have a development fund tax and what will it be used for?
Yoga Dude Dev fund tax today is at a reasonable 7.77% dropping by 1.11% every year until it hits zero. As Epic Cash grows in value these funds will become increasingly more relevant in additional technical, marketing, and fintech partnerships developments.
Oleg✌🏻 Very smart! 6. What is the advantage of 3 mining algorithms?
Max Freeman | Epic Cash | Mimblewimble By having multiple mining algorithms we are able to attract CPU, GPU, and ASIC miners simultaneously. Currently all other Mimblewimble currencies are mineable with GPU only ignoring a large segment of CPU miners. Monero made a splash migrating to the RandomX CPU mining algo. Epic Cash from the beginning embraces all mining communities. Many miners are successfully using older hardware such as Xeon processors to help secure the network. We use RandomX for CPU, ProgPow for GPU, and Cuckoo for ASIC.
Longer term, our flexible architecture means we can have many algorithms, not just 3. Our roadmap includes an allocation for SHA3 Keccak, which will help further decentralize the network and keep it unstoppable.
Yoga Dude We love miners 🙂 and Epic Cash can be mined with laptops and gaming rigs 🙂
Oleg✌🏻 A wide selection of mining methods is a great way to create a stable, decentralized and large network👌 Let’s talk about persons… 7. Who are the people developing Epic Cash?
Yoga Dude We are blessed with a very talented team of skilled developers with diverse backgrounds, many of them are volunteers who believe in what Epic Cash stands for and contribute with product and usability innovation. Our teams main focus is to make Epic Cash the best, most secure, most user friendly and usable product on the market, without making it unnecessarily techie, with as much mainstream user appeal as possible. This is a serious challenge but we are up for it 😄
Max Freeman | Epic Cash | Mimblewimble It is also important to note that we are a truly open ecosystem that anyone can participate in. Our community has developed wallets, mining pools, educational content, and much else besides. We are not limited by the funding generated during an ICO or VC investment, our users are an essential element of our team.
Oleg✌🏻 Sounds very attractive. 8. What do you think is currently lack in today’s crypto?
Max Freeman | Epic Cash | Mimblewimble We believe there is not enough privacy, anonymity and fungibility, although there is a growing awareness in the community as to why these are necessary. People are waking up to the fact that privacy is a right for everyone but today it is being exploited and violated by corporations, governments and unscrupulous individuals. Privacy does not mean that you have something to hide. We have doors on our houses, curtains on our windows, we wear clothes, and we have security on our bank accounts and businesses, not because we are criminals.
Fungibility (the property of not being able to distinguish one unit of currency from another) also has become a hot issue as people have started to get in trouble because of someone else’s misdeeds. Tainted money (coins that are blacklisted or restricted) is a problem for Bitcoin and Ethereum, the top two cryptos today. Mimblewimble eliminates the risk of tainted coins making them indistinguishable from each other. With traceable coins, you always have to worry if the coins you are getting were involved in a hack, or perhaps the darknet.
Oleg✌🏻 It’s good to see strong and safe coin in our time Let’s talk about your future… 9. What does the Epic Cash roadmap look like going forward?
Yoga Dude First and foremost, we are focused on security and usability.
We are working on a new, improved GUI wallet to incorporate the community feedback on ways to improve it.
We are in the process of completing final testing phases for the next iteration of Epic Cash which will make it more secure and stable. Once that is done, we will be rolling out Android and iOS support to make Epic Cash usable on leading smartphones and smartwatches. Beyond that without going into too much detail we are focused on continuous evolution of privacy, ease of mining, and overall speed and usability.
And of course we are constantly looking to add more exchanges both with and without KYC.
Oleg✌🏻 Are you working on Android and IOS wallet ? What will your application be?
Max Freeman | Epic Cash | Mimblewimble Yes, we will release a mobile wallet this year. It will bring us one step closer to people being able to actually use cryptocurrency as money in daily life.
Yoga Dude The idea is to be able to access Epic Cash from any platform and device
Max Freeman | Epic Cash | Mimblewimble Epic is very lightweight, which means that low-end devices such as smartwatches can participate.
Oleg✌🏻 Ok, got it. Thanks for clarification! 10. What else can you tell us about Epic Cash?
Max Freeman | Epic Cash | Mimblewimble Well one thing I really want to mention is our great Epic Cash community. We’ve been building a decentralized community organically, without the talk of price pumps, pressure to HODL and other BS crypto-gimmicks. Our community is truly global and consists of developers, volunteers, miners, and other Epic enthusiasts spreading the word about Epic Cash, helping us reach millions of people around the world to improve their quality of life through social media and directly. Everyone is an evangelist, everyone is an influencer, everyone has the power to make the world a better place to live in. As we continue to grow — the future looks Epic 😊
Yoga Dude Definitely the community! We got a talented crowd of very cool and motivated people from all over the world!
Oleg✌🏻 Thank you guys, for such informative answers 🙂 Now we proceed to Section 3, where a Community can ask their questions to the EPIC team Now I’ll open chat for the quite some time … Oleg✌🏻 Thank you all, dear community! EPIC team, please choose the 10 best questions you want to answer.
AngeI Everyone likes Privacy & Epic Cash provides their Best Privacy to users But, Which Technologies are being used by Epic Cash to make Blockchain very Private and Completely untrackable ?
Max Freeman | Epic Cash | Mimblewimble From the wallet to the node, Epic uses Dandelion++ to bounce transactions around the world before they go into the mempool for mining. Within the blockchain itself, Cut-Through merges all transactions in a block together, with CoinJoin automatically mixing all coins.
Beyond that, there are no addresses, so it’s impossible to watch someone’s wallet.
Arnold Even litecoin is implementing mimblewimble, Don’t you think it’s a significant threat for Epic if they implement it, then why would anyone use a less popular and a new cryptocurrency.
Max Freeman | Epic Cash | Mimblewimble LTC is implementing mw as an “extension block”, meaning that it is optional and not all transactions will use it. This is very different than the core protocol leveraging mw to make all transactions private and all coins fungible.
Aluta Why Epic cash so much focus on fungibility? Does fungibility matters that much?
Max Freeman | Epic Cash | Mimblewimble Fungibility is going to be one of the key issues within the cryptocurrency space in the coming years. Today, if you accept traceable coins from a seller, you are liable if they have ever been used in any illegal activity. This has led to a two tier market where freshly minted coins sell for more than circulated coins. When coins are fungible, like Epic, you don’t have to worry that you will run into a problem when an exchange or merchant blocks your transaction.
Joxes It is a pleasure.
When I first researched EpicCash, google showed me a youtube video that talked about how to mine with EpicCash. It made me ask: is this mining activity profitable so far?
We are in the early stages of development I guess, what adoption strategies are you taking to have sustained growth? is it feasible to reach N ° 500 rank in coinmarketcap in the medium term?
Yoga Dude When I got into crypto, it was by mining Bitcoin back in 2011 when you could still solve blocks on a single computer, but Bitcoin at the time was anything but profitable 😄 Today Epic Cash is still new, still young, and still undervalued. I believe it is mining-worthy because of its potential, not because of today’s price. By allowing Epic Cash to be mined with GPU and CPU on gaming rigs, servers, and even laptops we offer maximum public participation in our project. More people involved in the project, the more evangelists there are. We empower people to mine Epic Cash and to promote it.
S.P.A.D.E What new features of Epic Cash provide that Grin or Beam does not offer. Why do we need Epic Cash?
Max Freeman | Epic Cash | Mimblewimble They are great coins, but there are some ways in which Epic improves. Epic has better tokenomics than Grin and a more sustainable model than Beam, that has a company behind it that needs to repay investors via its high dev tax. this article explains in more detail https://medium.com/@frodofreeman/overview-of-mimblewimble-cryptocurrencies-7c70be146f50
Sahil What’s the Minimum Hardware / setup Required for Mining of EPIC Cash coins? Is Mining Profitable and Can we Mine EPIC Cash coins at Home?
Max Freeman | Epic Cash | Mimblewimble It is possible to mine on an ordinary laptop or desktop from the last 5 years, sometimes older. Epic is open to everyone, and our friendly community is standing by to help you get started at t.me/epicminers
Erven James Sato “TOKEN BURN” is BENEFECIAL for any projects, in able to CONTROL THE NUMBER OF TOKEN CIRCULATION and TO PROVIDE GREATER INCENTIVES TO INVESTORS.
Does your GREAT PROJECT have plan about TOKEN BURN?
Xenolink For deflating projects It is beneficial to drive the demand / scarcity / and price up in a faster pace. Epic Cash is here for the organic long run not the short run. However when it comes to long term economics elastic supplies whether inflating or deflating will not be a solid long term economic model. This has been heavily discussed already with Bitcoins inelastic Fixed 21 million supply in the past. Having a fixed model demonstrates good long term economics without worrying about balancing a deflating/inflating model. Bitcoin is a perfect example of a 21 million inelastic fixed supply model that has been proving itself till today. Which is why we are also using the same fixed 21 million supply model. Epic Cash plans to have a solid organic long term future to bring free private fungible money and make this world a better place.
Red Z🔥🤙 No one predicted the COVID-19 pandemic while developing their business model. But the crisis and recession of the global economy is our present with you and it affects all sectors, including blockchain. Will you make or have already made changes to the project roadmap, tokenomics? Do you have a plan in case the situation does not improve in the coming months and will affect the crypto industry even more?
Yoga Dude One thing we have seen as the result of the COVID-19 is more governments are talking about moving to digital cash — digital dollar in USA, digital Lira in Turkey, etc… If in the past the idea of digital money was not graspable by some people, today its the governments that are educating the people for us about the value of digital currency… What is ironic, the governments, by printing money to solve the economic consequences of COVID-19 also educating the consumer about the true “value” of fiat… What we offer is a touch free, borderless, private, anonymous, fungible currency that can not be printed beyond the initial defined algo. We are more responsible than the printing presses of the governments 🤔
kunlefighter How does the Dandelion++ Protocol, Confidential Transactions (CT) and CoinJoin assist in protecting the privacy of individuals and their transactions on Epic Cash Blockchain?
Max Freeman | Epic Cash | Mimblewimble Dandelion++ bounces transactions around before committing them to the blockchain, making it impossible to determine where they originated from. Confidential Transactions means that all tx are private, you can’t tell anything about where the coins have been or who they belonged to. CoinJoin in essence melts down and re-mints each coin every time it is used, making it impossible to track their ownership or usage history. Epic provides comprehensive privacy to everyone, without the compromises that other pre-mimblewimble coins have.
Dr Mönica Hello sir @maxfreeman4 @Johnsstec @Yogadude
Thanks for the ama I notice that Epic Cash has 2 type of new algorithm, progPoW version 0.15.0 and randomX version 1.0.3 NOW , CAN you tell me why you choose these 2 algorithm???
Yoga Dude We went with RandomX because it is a solid and very popular CPU centric algo used by several coins — most recently Monero. Most miners today heavily favor ASICs or GPUs, leaving a lot of solid high end users in the dust unable to mine emerging cryptos. As far as ProgPow, again its an established algo for GPU miners, and thanks to many cryptos starting with Bitcoin/Monero/Ethe etc there is no shortage of GPU rigs out there :) plus again the casual user with a video gaming caliber card can get in on the action.
Oleg✌🏻 Perfect! It was a great AMA, but it is coming to an end, thanks to everyone who was with us. Thanks EPIC team for taking the time👏. I hope our projects will be able to collaborate even more closely in the future and achieve new successes. Cheers!🎉
submitted by EpicCashFrodo to epiccash [link] [comments]

Idea | Tip Nano to creators

Hey guys, my name is Tolik and I'm new to Nano.
I would like to tell you a bit about myself, and then about some ideas that I would like to share with you :)
I'm a content creator form Israel, and I have about 65k subscribers over my 3 channels. I'm also the first Israeli partnered on Twitch and been doing that for 8 years now.
Had a lot of fun with it for the first few years, playing my favorite games and earning good money, and eventually burning out hating the game that got me all my following. Our (Israeli) community exploded on youtube, but to make the most of it you need to make mindless trendy content, playing trendy and pretty childish games. I did that for a while, but it was too hard for my mind and I ended up burning out hard stepping away for a long while.
Back in 2013 I first stumbled upon the world of crypto and realized the potential of the blockchain and the implementation of that technology in our world. Not enough to buy enough to get rich, but I never even considered that it could get to the volumes it got to now. In 2017 when it exploded, I realized I had some leftover coins from 2013-14 and cashed out a few thousand dollars, with the pain it could have been millions if I was a little more aware. Oh Well.
A few years ago, I got into the world of self-development and got a new perspective on life. Doing only what I love and grooming a small but good community on youtube, not caring about trends, views, and money in my pocket.
A few days ago, a colleague of mine started to promote some unknown coin to his child viewers, basically, the premise is a coin that you could mine on your phone. Immediately I had some red flags popping off my mind, especially because he promoted some shady CSGO gambling sites that I didn't even want to look into. He of course had his promotion code for registering to the gambling site, and using the mentioned crypto (downloading the app).
If you can mine it on your phone, what would stop you using an expensive setup and just dominate the market? The fact that he advertised it as a get rich scheme, and the fact that it's a referral pyramid network, does not seem safe.
After looking into it I did not see any promise, especially after I found so many altcoins with big communities that his crypto didn't have, information that did not add up, and a bunch of weird stuff going on.
Because I started researching the crypto world (after so many years not being aware of what happened to it), youtube started suggesting me videos about it, one of them was u/SonderDev 's nanoPaint (Sorry I made SpongeBobs eye red) and started doing some research on nano and the technology. For 3 days I devoured all the info I can, reading most of the posts here on reddit, and joining on Discord and TG. I again felt that butterfly feeling in my gut, the one I felt so many years ago when I found out about bitcoin (and some other rare occasions). So much potential, and I kind of feel I am already late to the party, and yet, my mind can't stop thinking about what is possible.
Now to the good stuff! Donations(tips) to streamers and content creators were always a huge part of our revenue. But we had a lot of problems with it - High fees, making small donations pretty much impossible, and the fear of someone charging you back and having you pay the fees for every donation that got charged back. I had someone give me about $2k for the span of two months with small donations, ended up charging all that money back, and having me pay $10 for each of his donations, even if they were under that amount. PayPal is pretty crazy.
Also, If you consider something like Patreon (a monthly donation for a project or a creator you like for benefits) they also charge extra for their fee, and people can still charge you back, even though they will handle it, you still give them the benefits. Twitch takes a huge cut for subscribers (user pays $4.99 and I get as little as $1.70) and youtube are getting about 30% for their cut.
See where I'm going with this? As proof of concept, a simple donation website/app could be made. You send the creator any amount of nano, it pops up on the screen for everyone to see. People would love the idea to impact the stream with as little money the creator allows. That would start up a conversation, people would start seeing the technology in action, how fast and feeless everything is going.
Not to mention an integrated service could be made that is similar to delegate.it (allows users to do tasks for nano/fiat) in this instance, the tasks could be - follow the creator on Twitter, Instagram, like his posts and whatever else he decides, and it could be cheap, because people would be doing it to pop up on stream and help the creator, not for the actual fiat amount of the nano given. killing 3 birds with one stone. Promoting nano, allowing everybody a voice to a degree they choose, and promoting himself to his viewers.
If this works, we could either go to one of the 2 biggest platforms (StreamLabs and StreamElements (who are Israeli and I know the 2 founders personally)) and they would integrate it to their already build system, or develop something to solely promote nano. We could reach out to smaller streamers that have small dedicated communities, not many donations and revenue coming in and allow them to use our system to promote their content and interact with their viewers.
A few more ideas I have in mind for a project like that:
For the donations (tips)
• Having different donation alerts for different QR codes that you scan. Similarly to what NanoPaint accomplishes, we could have a different QR code to scan for an alert that the user chooses to show up.
• Coloring the Camera frame - similarly to NanoPaint, drawing pixels on the frame of the camera of the streamer, changing it in real-time for nano.
• Having text to speech for the alert
• Have your donation impact the streamer in AR (putting something on his face or head).
Crowd Funding
• Donation goal that will make a purchase only if it gets there - setting up an X day goal to buy a new GPU for example, and having people contribute to it, and if it's reached, it automatically makes the order from amazon or wherever (having the data safe with our service), and if it's not - fully refunding the users. It could be a daily goal for pizza or whatever they choose. It will allow integration with businesses that would work with us.
• Stream goals - if we get to X Nano this stream, 24 hour stream tomorrow! If we won't, get your nano back! Would encourage people to participate even if they are not sure the goal will be met, have the assurance that the full amount would be refunded if it did not get there.
• Challenges - starting a bounty challenge, for example, have an Ace in CSGO (kill all 5 enemies) and get X amount of nano. If you didn't, money goes back. the crowd could vote on it having more interaction and validating if the challenge is complete.
Voting
• Have people engage with polls in real-time with nano, could scan their option to vote, and even get refunded if their option did not win, encouraging them to vote for their favorite option, even if it seems unlikely to win.
User Battles
• Having people start a challenge of a game, in an app or on the web, or perhaps even something random like gambling, and having it appear on stream for everybody to witness. Maybe even challenging the streamer for a nano incentive or someone else who watches.
Chat
• Having an on-screen chat that changes the colors and design of the people who donated with nano, and linked their account. more incentive to donate.
Stream Sponsors
• Having a rotating banner on-screen at all times, allowing users to pay nano to show their banner. As an auction or a price set from the creator.
Most of these ideas occurred to me as I was writing this post, and I'm sure we could think of better ones with some effort. Some of them are already implemented on the websites that were mention above, however, having the power and speed of the nano is a game-changer IMHO.
So why am I writing this post? First, just to share with you and get to know you better, maybe spark an idea or a motivation for anyone to do something good for nano.
Second, money is tight now, moved back to my parents due to the pandemic, hard to find a decent job as we have more than %20 of the people in Israel looking for a job and as I mentioned before the content I make is not very profitable. I can't afford to invest money in this idea, and I lack the skills to do it myself. So maybe if it's good someone else could.
If, however, someone would be inclined to help make this a reality, I would appreciate any comments, suggestions, investment of time, or money in testing this out. I have a dedicated community with thousands of people that will be aware of nano if we'll do it, years of experience in this field, and not to mention that I'm in good relations with most of the other content creators and platforms here in Israel, and some international.
Discord: ToLy#2657
Feel free to DM me at any time :)
Nice to meet you, and thank you for reading.
submitted by tolikr94 to nanocurrency [link] [comments]

[ANN][ANDROID MINING][AIRDROP] NewEnglandcoin: Scrypt RandomSpike

New England
New England 6 States Songs: https://www.reddit.com/newengland/comments/er8wxd/new_england_6_states_songs/
NewEnglandcoin
Symbol: NENG
NewEnglandcoin is a clone of Bitcoin using scrypt as a proof-of-work algorithm with enhanced features to protect against 51% attack and decentralize on mining to allow diversified mining rigs across CPUs, GPUs, ASICs and Android phones.
Mining Algorithm: Scrypt with RandomSpike. RandomSpike is 3rd generation of Dynamic Difficulty (DynDiff) algorithm on top of scrypt.
1 minute block targets base difficulty reset: every 1440 blocks subsidy halves in 2.1m blocks (~ 2 to 4 years) 84,000,000,000 total maximum NENG 20000 NENG per block Pre-mine: 1% - reserved for dev fund ICO: None RPCPort: 6376 Port: 6377
NewEnglandcoin has dogecoin like supply at 84 billion maximum NENG. This huge supply insures that NENG is suitable for retail transactions and daily use. The inflation schedule of NengEnglandcoin is actually identical to that of Litecoin. Bitcoin and Litecoin are already proven to be great long term store of value. The Litecoin-like NENG inflation schedule will make NewEnglandcoin ideal for long term investment appreciation as the supply is limited and capped at a fixed number
Bitcoin Fork - Suitable for Home Hobbyists
NewEnglandcoin core wallet continues to maintain version tag of "Satoshi v0.8.7.5" because NewEnglandcoin is very much an exact clone of bitcoin plus some mining feature changes with DynDiff algorithm. NewEnglandcoin is very suitable as lite version of bitcoin for educational purpose on desktop mining, full node running and bitcoin programming using bitcoin-json APIs.
The NewEnglandcoin (NENG) mining algorithm original upgrade ideas were mainly designed for decentralization of mining rigs on scrypt, which is same algo as litecoin/dogecoin. The way it is going now is that NENG is very suitable for bitcoin/litecoin/dogecoin hobbyists who can not , will not spend huge money to run noisy ASIC/GPU mining equipments, but still want to mine NENG at home with quiet simple CPU/GPU or with a cheap ASIC like FutureBit Moonlander 2 USB or Apollo pod on solo mining setup to obtain very decent profitable results. NENG allows bitcoin litecoin hobbyists to experience full node running, solo mining, CPU/GPU/ASIC for a fun experience at home at cheap cost without breaking bank on equipment or electricity.
MIT Free Course - 23 lectures about Bitcoin, Blockchain and Finance (Fall,2018)
https://www.youtube.com/playlist?list=PLUl4u3cNGP63UUkfL0onkxF6MYgVa04Fn
CPU Minable Coin Because of dynamic difficulty algorithm on top of scrypt, NewEnglandcoin is CPU Minable. Users can easily set up full node for mining at Home PC or Mac using our dedicated cheetah software.
Research on the first forked 50 blocks on v1.2.0 core confirmed that ASIC/GPU miners mined 66% of 50 blocks, CPU miners mined the remaining 34%.
NENG v1.4.0 release enabled CPU mining inside android phones.
Youtube Video Tutorial
How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 1 https://www.youtube.com/watch?v=sdOoPvAjzlE How to CPU Mine NewEnglandcoin (NENG) in Windows 10 Part 2 https://www.youtube.com/watch?v=nHnRJvJRzZg
How to CPU Mine NewEnglandcoin (NENG) in macOS https://www.youtube.com/watch?v=Zj7NLMeNSOQ
Decentralization and Community Driven NewEnglandcoin is a decentralized coin just like bitcoin. There is no boss on NewEnglandcoin. Nobody nor the dev owns NENG.
We know a coin is worth nothing if there is no backing from community. Therefore, we as dev do not intend to make decision on this coin solely by ourselves. It is our expectation that NewEnglandcoin community will make majority of decisions on direction of this coin from now on. We as dev merely view our-self as coin creater and technical support of this coin while providing NENG a permanent home at ShorelineCrypto Exchange.
Twitter Airdrop
Follow NENG twitter and receive 100,000 NENG on Twitter Airdrop to up to 1000 winners
Graphic Redesign Bounty
Top one award: 90.9 million NENG Top 10 Winners: 500,000 NENG / person Event Timing: March 25, 2019 - Present Event Address: NewEnglandcoin DISCORD at: https://discord.gg/UPeBwgs
Please complete above Twitter Bounty requirement first. Then follow Below Steps to qualify for the Bounty: (1) Required: submit your own designed NENG logo picture in gif, png jpg or any other common graphic file format into DISCORD "bounty-submission" board (2) Optional: submit a second graphic for logo or any other marketing purposes into "bounty-submission" board. (3) Complete below form.
Please limit your submission to no more than two total. Delete any wrongly submitted or undesired graphics in the board. Contact DISCORD u/honglu69#5911 or u/krypton#6139 if you have any issues.
Twitter Airdrop/Graphic Redesign bounty sign up: https://goo.gl/forms/L0vcwmVi8c76cR7m1
Milestones
Roadmap
NENG v1.4.0 Android Mining, randomSpike Evaluation https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/NENG_2020_Q3_report/NENG_2020_Q3_report.pdf
RandomSpike - NENG core v1.3.0 Hardfork Upgrade Proposal https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2020Q1_Report/Scrypt_RandomSpike_NENGv1.3.0_Hardfork_Proposal.pdf
NENG Security, Decentralization & Valuation
https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/2019Q2_report/NENG_Security_Decentralization_Value.pdf
Whitepaper v1.0 https://github.com/ShorelineCrypto/NewEnglandCoin/releases/download/whitepaper_v1.0/NENG_WhitePaper.pdf
DISCORD https://discord.gg/UPeBwgs
Explorer
http://www.findblocks.com/exploreNENG http://86.100.49.209/exploreNENG http://nengexplorer.mooo.com:3001/
Step by step guide on how to setup an explorer: https://github.com/ShorelineCrypto/nengexplorer
Github https://github.com/ShorelineCrypto/NewEnglandCoin
Wallet
Android with UserLand App (arm64/armhf), Chromebook (x64/arm64/armhf): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.5
Linux Wallet (Ubuntu/Linux Mint, Debian/MX Linux, Arch/Manjaro, Fedora, openSUSE): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.3
MacOS Wallet (10.11 El Capitan or higher): https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0.2
Android with GNUroot on 32 bits old Phones (alpha release) wallet: https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.4.0
Windows wallet: https://github.com/ShorelineCrypto/NewEnglandCoin/releases/tag/v1.3.0.1
addnode ip address for the wallet to sync faster, frequently updated conf file: https://github.com/ShorelineCrypto/cheetah_cpumineblob/mastenewenglandcoin.conf-example
How to Sync Full Node Desktop Wallet https://www.reddit.com/NewEnglandCoin/comments/er6f0q/how_to_sync_full_node_desktop_wallet/
TWITTER https://twitter.com/newenglandcoin
REDDIT https://www.reddit.com/NewEnglandCoin/
Cheetah CPU Miner Software https://github.com/ShorelineCrypto/cheetah_cpuminer
Solo Mining with GPU or ASIC https://bitcointalk.org/index.php?topic=5027091.msg52187727#msg52187727
How to Run Two Full Node in Same Desktop PC https://bitcointalk.org/index.php?topic=5027091.msg53581449#msg53581449
ASIC/GPU Mining Pools Warning to Big ASIC Miners Due to DynDiff Algo on top of Scrypt, solo mining is recommended for ASIC/GPU miners. Further more, even for mining pools, small mining pool will generate better performance than big NENG mining pool because of new algo v1.2.x post hard fork.
The set up configuration of NENG for scrypt pool mining is same as a typical normal scrypt coin. In other word, DynDiff on Scrypt algo is backward compatible with Scrypt algo. Because ASIC/GPU miners rely on CPU miners for smooth blockchain movement, checkout bottom of "Latest News" section for A WARNING to All ASIC miners before you decide to dump big ASIC hash rate into NENG mining.
(1) Original DynDiff Warning: https://bitcointalk.org/index.php?topic=5027091.msg48324708#msg48324708 (2) New Warning on RandomSpike Spike difficulty (244k) introduced in RandomSpike served as roadblocks to instant mining and provide security against 51% attack risk. However, this spike difficulty like a roadblock that makes big ASIC mining less profitable. In case of spike block to be mined, the spike difficulty immediately serve as base difficulty, which will block GPU/ASIC miners effectively and leave CPU cheetah solo miners dominating mining almost 100% until next base difficulty reset.
FindBlocks http://findblocks.com/
CRpool http://crpool.xyz/
Cminors' Pool http://newenglandcoin.cminors-pool.com/
SPOOL https://spools.online/
Exchange
📷
https://shorelinecrypto.com/
Features: anonymous sign up and trading. No restriction or limit on deposit or withdraw.
The trading pairs available: NewEnglandcoin (NENG) / Dogecoin (DOGE)
Trading commission: A round trip trading will incur 0.10% trading fees in average. Fees are paid only on buyer side. buy fee: 0.2% / sell fee: 0% Deposit fees: free for all coins Withdraw fees: ZERO per withdraw. Mining fees are appointed by each coin blockchain. To cover the blockchain mining fees, there is minimum balance per coin per account: * Dogecoin 2 DOGE * NewEnglandcoin 1 NENG
Latest News Aug 30, 2020 - NENG v1.4.0.5 Released for Android/Chromebook Upgrade with armhf, better hardware support https://bitcointalk.org/index.php?topic=5027091.msg55098029#msg55098029
Aug 11, 2020 - NENG v1.4.0.4 Released for Android arm64 Upgrade / Chromebook Support https://bitcointalk.org/index.php?topic=5027091.msg54977437#msg54977437
Jul 30, 2020 - NENG v1.4.0.3 Released for Linux Wallet Upgrade with 8 Distros https://bitcointalk.org/index.php?topic=5027091.msg54898540#msg54898540
Jul 21, 2020 - NENG v1.4.0.2 Released for MacOS Upgrade with Catalina https://bitcointalk.org/index.php?topic=5027091.msg54839522#msg54839522
Jul 19, 2020 - NENG v1.4.0.1 Released for MacOS Wallet Upgrade https://bitcointalk.org/index.php?topic=5027091.msg54830333#msg54830333
Jul 15, 2020 - NENG v1.4.0 Released for Android Mining, Ubuntu 20.04 support https://bitcointalk.org/index.php?topic=5027091.msg54803639#msg54803639
Jul 11, 2020 - NENG v1.4.0 Android Mining, randomSpike Evaluation https://bitcointalk.org/index.php?topic=5027091.msg54777222#msg54777222
Jun 27, 2020 - Pre-Announce: NENG v1.4.0 Proposal for Mobile Miner Upgrade, Android Mining Start in July 2020 https://bitcointalk.org/index.php?topic=5027091.msg54694233#msg54694233
Jun 19, 2020 - Best Practice for Futurebit Moonlander2 USB ASIC on solo mining mode https://bitcointalk.org/index.php?topic=5027091.msg54645726#msg54645726
Mar 15, 2020 - Scrypt RandomSpike - NENG v1.3.0.1 Released for better wallet syncing https://bitcointalk.org/index.php?topic=5027091.msg54030923#msg54030923
Feb 23, 2020 - Scrypt RandomSpike - NENG Core v1.3.0 Relased, Hardfork on Mar 1 https://bitcointalk.org/index.php?topic=5027091.msg53900926#msg53900926
Feb 1, 2020 - Scrypt RandomSpike Proposal Published- NENG 1.3.0 Hardfork https://bitcointalk.org/index.php?topic=5027091.msg53735458#msg53735458
Jan 15, 2020 - NewEnglandcoin Dev Team Expanded with New Kickoff https://bitcointalk.org/index.php?topic=5027091.msg53617358#msg53617358
Jan 12, 2020 - Explanation of Base Diff Reset and Effect of Supply https://www.reddit.com/NewEnglandCoin/comments/envmo1/explanation_of_base_diff_reset_and_effect_of/
Dec 19, 2019 - Shoreline_tradingbot version 1.0 is released https://bitcointalk.org/index.php?topic=5121953.msg53391184#msg53391184
Sept 1, 2019 - NewEnglandcoin (NENG) is Selected as Shoreline Tradingbot First Supported Coin https://bitcointalk.org/index.php?topic=5027091.msg52331201#msg52331201
Aug 15, 2019 - Mining Update on Effect of Base Difficulty Reset, GPU vs ASIC https://bitcointalk.org/index.php?topic=5027091.msg52169572#msg52169572
Jul 7, 2019 - CPU Mining on macOS Mojave is supported under latest Cheetah_Cpuminer Release https://bitcointalk.org/index.php?topic=5027091.msg51745839#msg51745839
Jun 1, 2019 - NENG Fiat project is stopped by Square, Inc https://bitcointalk.org/index.php?topic=5027091.msg51312291#msg51312291
Apr 21, 2019 - NENG Fiat Project is Launched by ShorelineCrypto https://bitcointalk.org/index.php?topic=5027091.msg50714764#msg50714764
Apr 7, 2019 - Announcement of Fiat Project for all U.S. Residents & Mobile Miner Project Initiation https://bitcointalk.org/index.php?topic=5027091.msg50506585#msg50506585
Apr 1, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50417196#msg50417196
Mar 27, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50332097#msg50332097
Mar 17, 2019 - Disclosure on Large Buying on NENG at ShorelineCrypto Exchange https://bitcointalk.org/index.php?topic=5027091.msg50208194#msg50208194
Feb 26, 2019 - Community Project - NewEnglandcoin Graphic Redesign Bounty Initiated https://bitcointalk.org/index.php?topic=5027091.msg49931305#msg49931305
Feb 22, 2019 - Dev Policy on Checkpoints on NewEnglandcoin https://bitcointalk.org/index.php?topic=5027091.msg49875242#msg49875242
Feb 20, 2019 - NewEnglandCoin v1.2.1 Released to Secure the Hard Kork https://bitcointalk.org/index.php?topic=5027091.msg49831059#msg49831059
Feb 11, 2019 - NewEnglandCoin v1.2.0 Released, Anti-51% Attack, Anti-instant Mining after Hard Fork https://bitcointalk.org/index.php?topic=5027091.msg49685389#msg49685389
Jan 13, 2019 - Cheetah_CpuMiner added support for CPU Mining on Mac https://bitcointalk.org/index.php?topic=5027091.msg49218760#msg49218760
Jan 12, 2019 - NENG Core v1.1.2 Released to support MacOS OSX Wallet https://bitcointalk.org/index.php?topic=5027091.msg49202088#msg49202088
Jan 2, 2019 - Cheetah_Cpuminer v1.1.0 is released for both Linux and Windows https://bitcointalk.org/index.php?topic=5027091.msg49004345#msg49004345
Dec 31, 2018 - Technical Whitepaper is Released https://bitcointalk.org/index.php?topic=5027091.msg48990334#msg48990334
Dec 28, 2018 - Cheetah_Cpuminer v1.0.0 is released for Linux https://bitcointalk.org/index.php?topic=5027091.msg48935135#msg48935135
Update on Dec 14, 2018 - NENG Blockchain Stuck Issue https://bitcointalk.org/index.php?topic=5027091.msg48668375#msg48668375
Nov 27, 2018 - Exclusive for PC CPU Miners - How to Steal a Block from ASIC Miners https://bitcointalk.org/index.php?topic=5027091.msg48258465#msg48258465
Nov 28, 2018 - How to CPU Mine a NENG block with window/linux PC https://bitcointalk.org/index.php?topic=5027091.msg48298311#msg48298311
Nov 29, 2018 - A Warning to ASIC Miners https://bitcointalk.org/index.php?topic=5027091.msg48324708#msg48324708
Disclosure: Dev Team Came from ShorelineCrypto, a US based Informatics Service Business offering Fee for service for Coin Creation, Coin Exchange Listing, Blockchain Consulting, etc.
submitted by honglu69 to NewEnglandCoin [link] [comments]

ACIS-mining and its 3 best algorithms

ACIS-mining and its 3 best algorithms
Hello. 👋🏻 Today we will tell you about ACIS-mining and its 3 best algorithms.
📌 With the advent of ASICs for mining, it became possible to mine Bitcoin in much larger quantities than using video cards. ASIC is an integrated circuit specialized to solve a specific problem, in our case, only for bitcoin mining. These schemes are many times more profitable than video cards, because with more power (hash calculation speed) they consume much less energy. This served as a good reason to create a cryptocurrency mining business.
📌 In bitcoin and other blockchain systems, the complexity of mining depends on how quickly the miners find the block. Compared with the GPU and CPU, specialized #ASIC miners solve #PoW puzzles better and are therefore able to quickly find new blocks.
📌 Since PoW is still the preferred mining consensus mechanism, we propose to take a multiple algorithm approach. Instead of trying to use algorithms which are ASIC resistant, we propose to use algorithms which have had ASIC miners for quite some time. These are: #SHA256, #Scrypt, and #X11.
🔹 The SHA-256 algorithm has a number of advantages over other information protection technologies. Over the years of use in the cryptocurrency industry, he has shown his resistance to various hacking attempts.
🔹 Scrypt is a cryptocurrency mining algorithm that was previously interesting to many single miners in view of its resistance to the so-called “hardware attack”. The speed of creating blocks in a Scrypt-based blockchain is about 30 seconds. The hashrate, like Ethash, is measured in Megahash per second. Scrypt, first of all, became popular due to its use in Litecoin #cryptocurrency.
🔹 X11 is an encryption algorithm in which eleven are used instead of one function. This means that this technology can provide a high degree of security, because in order to harm the system, an attacker will have to crack all 11 functions, which is very unlikely, because the changes made will be visible after breaking the first function, and developers will have a lot of time to protect the system before the hacker reaches the eleventh function.
Since these miners are already in wide use, the distribution of mining should be fair and even. Furthermore, the use of three different algorithms results in a far less chance of any single person gaining a majority hash rate share. Lastly, we use the Multishield difficulty adjustment algorithm to prevent difficulty spike issues resulting from burst mining.
Read more about PYRK mining solutions here: https://www.pyrk.org
Read our Whitepaper to know more about the project:
https://www.pyrk.org/Pyrk-Whitepaper.pdf
https://preview.redd.it/rxmlr7wt1k251.png?width=1200&format=png&auto=webp&s=162f9ddaacb3cf3e137638464a208bdf25e50a21
submitted by VS_community to pyrk [link] [comments]

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.

Hardware recommendations

The current system specifications recommended for running the miner are:
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:
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 :
  1. https://www.coindesk.com/filecoin-pushes-back-final-testing-phase-announces-calibration-period-for-miners
  2. https://docs.filecoin.io/mine/#types-of-miners https://www.nasdaq.com/articles/inside-the-craze-for-filecoin-crypto-mining-in-china-2020-07-12؟amp
  3. https://www.prnewswire.com/news-releases/qebr-streamlines-holdings-to-concentrate-on-filecoin-development-and-mining-301098731.html
  4. https://www.crowdfundinsider.com/2020/05/161200-filecoin-seeks-to-boost-mining-with-filecoin-discove
  5. https://zephyrnet.com/filecoin-seeks-to-boost-mining-with-filecoin-discove
  6. https://docs.filecoin.io/introduction/ipfs-and-filecoin/#filecoin-powered-by-ipfs
submitted by CoinEx_Institution to filecoin [link] [comments]

Mining for Profitability - Horizen (formerly ZenCash) Thanks Early GPU Miners

Mining for Profitability - Horizen (formerly ZenCash) Thanks Early GPU Miners
Thank you for inviting Horizen to the GPU mining AMA!
ZEN had a great run of GPU mining that lasted well over a year, and brought lots of value to the early Zclassic miners. It is mined using Equihash protocol, and there have been ASIC miners available for the algorithm since about June of 2018. GPU mining is not really profitable for Horizen at this point in time.
We’ve got a lot of miners in the Horizen community, and many GPU miners also buy ASIC miners. Happy to talk about algorithm changes, security, and any other aspect of mining in the questions below. There are also links to the Horizen website, blog post, etc. below.
So, if I’m not here to ask you to mine, hold, and love ZEN, what can I offer? Notes on some of the lessons I’ve learned about maximizing mining profitability. An update on Horizen - there is life after moving on from GPU mining. As well as answering your questions during the next 7 days.
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Mining for Profitability - Horizen (formerly ZenCash) Thanks Early GPU Miners

Author: Rolf Versluis - co-founder of Horizen

In GPU mining, just like in many of the activities involved with Bitcoin and cryptocurrencies, there is both a cycle and a progression. The Bitcoin price cycle is fairly steady, and by creating a personal handbook of actions to take during the cycle, GPU miners can maximize their profitability.
Maximizing profitability isn't the only aspect of GPU mining that is important, of course, but it is helpful to be able to invest in new hardware, and be able to have enough time to spend on building and maintaining the GPU miners. If it was a constant process that also involved losing money, then it wouldn't be as much fun.

Technology Progression

For a given mining algorithm, there is definitely a technology progression. We can look back on the technology that was used to mine Bitcoin and see how it first started off as Central Processing Unit (CPU) mining, then it moved to Graphical Processing Unit (GPU) mining, then Field Programmable Gate Array (FPGA), and then Application Specific Integrated Circuit (ASIC).
Throughout this evolution we have witnessed a variety of unsavory business practices that unfortunately still happen on occasion, like ASIC Miner manufacturers taking pre-orders 6 months in advance, GPU manufacturers creating commercial cards for large farms that are difficult for retail customers to secure and ASIC Miner manufacturers mining on gear for months before making it available for sale.
When a new crypto-currency is created, in many cases a new mining algorithm is created also. This is important, because if an existing algorithm was used, the coin would be open to a 51% attack from day one, and may not even be able to build a valid blockchain.
Because there's such a focus on profitable software, developers for GPU mining applications are usually able to write a mining application fairly rapidly, then iterate it to the limit of current GPU technology. If it looks like a promising new cryptocurrency, FPGA stream developers and ASIC Hardware Developers start working on their designs at the same time.
The people who create the hashing algorithms run by the miners are usually not very familiar with the design capabilities of Hardware manufacturers. Building application-specific semiconductors is an industry that's almost 60 years old now, and FPGA’s have been around for almost 35 years. This is an industry that has very experienced engineers using advanced design and modeling tools.
Promising cryptocurrencies are usually ones that are deploying new technology, or going after a big market, and who have at least a team of talented software developers. In the best case, the project has a full-stack business team involving development, project management, systems administration, marketing, sales, and leadership. This is the type of project that attracts early investment from the market, which will drive the price of the coin up significantly in the first year.
For any cryptocurrency that's a worthwhile investment of time, money, and electricity for the hashing, there will be a ASIC miners developed for it. Instead of fighting this technology progression, GPU miners may be better off recognizing it as inevitable, and taking advantage of the cryptocurrency cycle to maximize GPU mining profitability instead.

Cryptocurrency Price Cycle

For quality crypto projects, in addition to the one-way technology progression of CPU -> GPU -> FPGA -> ASIC, there is an upward price progression. More importantly, there is a cryptocurrency price cycle that oscillates around an overall upgrade price progression. Plotted against time, a cycle with an upward progressions looks like a sine wave with an ever increasing average value, which is what we see so far with the Bitcoin price.

Cryptocurrency price cycle and progression for miners
This means mining promising new cryptocurrencies with GPU miners, holding them as the price rises, and being ready to sell a significant portion in the first year. Just about every cryptocurrency is going to have a sharp price rise at some point, whether through institutional investor interest or by being the target of a pump-and-dump operation. It’s especially likely in the first year, while the supply is low and there is not much trading volume or liquidity on exchanges.
Miners need to operate in the world of government money, as well as cryptocurrency. The people who run mining businesses at some point have to start selling their mining proceeds to pay the bills, and to buy new equipment as the existing equipment becomes obsolete. Working to maximize profitability means more than just mining new cryptocurrencies, it also means learning when to sell and how to manage money.

Managing Cash for Miners

The worst thing that can happen to a business is to run out of cash. When that happens, the business usually shuts down and goes into bankruptcy. Sometimes an investor comes in and picks up the pieces, but at the point the former owners become employees.
There are two sides to managing cash - one is earning it, the other is spending it, and the cryptocurrency price cycle can tell the GPU miner when it is the best time to do certain things. A market top and bottom is easy to recognize in hindsight, and harder to see when in the middle of it. Even if a miner is able to recognize the tops and bottoms, it is difficult to act when there is so much hype and positivity at the top of the cycle, and so much gloom and doom at the bottom.
A decent rule of thumb for the last few cycles appears to be that at the top and bottom of the cycle BTC is 10x as expensive compared to USD as the last cycle. Newer crypto projects tend to have bigger price swings than Bitcoin, and during the rising of the pricing cycle there is the possibility that an altcoin will have a rise to 100x its starting price.
Taking profits from selling altcoins during the rise is important, but so is maintaining a reserve. In order to catch a 100x move, it may be worth the risk to put some of the altcoin on an exchange and set a very high limit order. For the larger cryptocurrencies like Bitcoin it is important to set trailing sell stops on the way up, and to not buy back in for at least a month if a sell stop gets triggered. Being able to read price charts, see support and resistance areas for price, and knowing how to set sell orders are an important part of mining profitability.

Actions to Take During the Cycle

As the cycle starts to rise from the bottom, this is a good time to buy mining hardware - it will be inexpensive. Also to mine and buy altcoins, which are usually the first to see a price rise, and will have larger price increases than Bitcoin.
On the rise of the cycle, this is a good time to see which altcoins are doing well from a project fundamentals standpoint, and which ones look like they are undergoing accumulation from investors.
Halfway through the rise of the cycle is the time to start selling altcoins for the larger project cryptos like Bitcoin. Miners will miss some of the profit at the top of the cycle, but will not run out of cash by doing this. This is also the time to stop buying mining hardware. Don’t worry, you’ll be able to pick up that same hardware used for a fraction of the price at the next bottom.
As the price nears the top of the cycle, sell enough Bitcoin and other cryptocurrencies to meet the following projected costs:
  • Mining electricity costs for the next 12 months
  • Planned investment into new miners for the next cycle
  • Additional funds needed for things like supporting a family or buying a Lambo
  • Taxes on all the capital gains from the sale of cryptocurrencies
It may be worth selling 70-90% of crypto holdings, maintaining a reserve in case there is second upward move caused by government bankruptcies. But selling a large part of the crypto is helpful to maintaining profitability and having enough cash reserves to make it through the bottom part of the next cycle.
As the cycle has peaked and starts to decline, this is a good time to start investing in mining facilities and other infrastructure, brush up on trading skills, count your winnings, and take some vacation.
At the bottom of the cycle, it is time to start buying both used and new mining equipment. The bottom can be hard to recognize.
If you can continue to mine all the way through bottom part of the cryptocurrency pricing cycle, paying with the funds sold near the top, you will have a profitable and enjoyable cryptocurrency mining business. Any cryptocurrency you are able to hold onto will benefit from the price progression in the next higher cycle phase.

An Update on Horizen - formerly ZenCash

The team at Horizen recognizes the important part that GPU miners played in the early success of Zclassic and ZenCash, and there is always a welcoming attitude to any of ZEN miners, past and present. About 1 year after ZenCash launched, ASIC miners became available for the Equihash algorithm. Looking at a chart of mining difficulty over time shows when it was time for GPU miners to move to mining other cryptocurrencies.

Horizen Historical Block Difficulty Graph
Looking at the hashrate chart, it is straightforward to see that ASIC miners were deployed starting June 2018. It appears that there was a jump in mining hashrate in October of 2017. This may have been larger GPU farms switching over to mine Horizen, FPGA’s on the network, or early version of Equihash ASIC miners that were kept private.
The team understands the importance of the cryptocurrency price cycle as it affects the funds from the Horizen treasury and the investments that can be made. 20% of each block mined is sent to the Horizen non-profit foundation for use to improve the project. Just like miners have to manage money, the team has to decide whether to spend funds when the price is high or convert it to another form in preparation for the bottom part of the cycle.
During the rise and upper part of the last price cycle Horizen was working hard to maximize the value of the project through many different ways, including spending on research and development, project management, marketing, business development with exchanges and merchants, and working to create adoption in all the countries of the world.
During the lower half of the cycle Horizen has reduced the team to the essentials, and worked to build a base of users, relationships with investors, exchanges, and merchants, and continue to develop the higher priority software projects. Lower priority software development, going to trade shows, and paying for business partnerships like exchanges and applications have all been completely stopped.
Miners are still a very important part of the Horizen ecosystem, earning 60% of the block reward. 20% goes to node operators, with 20% to the foundation. In the summer of 2018 the consensus algorithm was modified slightly to make it much more difficult for any group of miners to perform a 51% attack on Horizen. This has so far proven effective.
The team is strong, we provide monthly updates on a YouTube live stream on the first Wednesday of each month where all questions asked during the stream are addressed, and our marketing team works to develop awareness of Horizen worldwide. New wallet software was released recently, and it is the foundation application for people to use and manage their ZEN going forward.
Horizen is a Proof of Work cryptocurrency, and there is no plan to change that by the current development team. If there is a security or centralization concern, there may be change to the algorithm, but that appears unlikely at this time, as the hidden chain mining penalty looks like it is effective in stopping 51% attacks.
During 2019 and 2020 the Horizen team plans to release many new software updates:
  • Sidechains modification to main software
  • Sidechain Software Development Kit
  • Governance and Treasury application running on a sidechain
  • Node tracking and payments running on a sidechain
  • Conversion from blockchain to a Proof of Work BlockDAG using Equihash mining algorithm
After these updates are working well, the team will work to transition Horizen over to a governance model where major decisions and the allocation of treasury funds are done through a form of democratic voting. At this point all the software developed by Horizen is expected to be open source.
When the governance is transitioned, the project should be as decentralized as possible. The goal of decentralization is to enable resilience and preventing the capture of the project by regulators, government, criminal organizations, large corporations, or a small group of individuals.
Everyone involved with Horizen can be proud of what we have accomplished together so far. Miners who were there for the early mining and growth of the project played a large part in securing the network, evangelizing to new community members, and helping to create liquidity on new exchanges. Miners are still a very important part of the project and community. Together we can look forward to achieving many new goals in the future.

Here are some links to find out more about Horizen.
Horizen Website – https://horizen.global
Horizen Blog – https://blog.horizen.global
Horizen Reddit - https://www.reddit.com/Horizen/
Horizen Discord – https://discord.gg/SuaMBTb
Horizen Github – https://github.com/ZencashOfficial
Horizen Forum – https://forum.horizen.global/
Horizen Twitter – https://twitter.com/horizenglobal
Horizen Telegram – https://t.me/horizencommunity
Horizen on Bitcointalk – https://bitcointalk.org/index.php?topic=2047435.0
Horizen YouTube Channel – https://www.youtube.com/c/Horizen/
Buy or Sell Horizen
Horizen on CoinMarketCap – https://coinmarketcap.com/currencies/zencash/

About the Author:

Rolf Versluis is Co-Founder and Executive Advisor of the privacy oriented cryptocurrency Horizen. He also operates multiple private cryptocurrency mining facilities with hundreds of operational systems, and has a blog and YouTube channel on crypto mining called Block Operations.
Rolf applies his engineering background as well as management and leadership experience from running a 60 person IT company in Atlanta and as a US Navy nuclear submarine officer operating out of Hawaii to help grow and improve the businesses in which he is involved.
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Thank you again for the Ask Me Anything - please do. I'll be checking the post and answering questions actively from 28 Feb to 6 Mar 2019 - Rolf
submitted by Blockops to gpumining [link] [comments]

Epic Cash AMA Recap with CryptoDiffer Community

CryptoDiffer team Hello, everyone! We are glad to meet here: Max Freeman (@maxfreeman4), Project Lead at Epic Cash Yoga Dude (@Yogadude), PR&Marketing at Epic Cash Xenolink (@Xenolink), Advisor at Epic Cash
Max Freeman Project Lead at Epic Cash Thanks Max, we are excited to be here!
Yoga Dude PR&Marketing at Epic Cash Hello Everyone! Thank you for having us here!
Xenolink Advisor at Epic Cash Thank you to the CryptoDiffer team and CryptoDiffer community for hosting us!
CryptoDiffer team Let`s start from the first introduction question: Q1: Can you introduce yourself to the community? What is your background and how did you join Epic Cash?
Yoga Dude PR&Marketing at Epic Cash
Hello! My background is Marketing and Business Development, I’ve been in crypto since 2011 started with Bitcoin, then Monero in 2014, Ethereum in 2015 and at some point Doge for fun and profit. I joined Epic Cash team in September 2019 handling PR and Marketing.
I saw in Epic Cash what was missing in my previous cryptos — things that were missing in Bitcoin and Monero especially.
Xenolink Advisor at Epic Cash
Hello Cryptodiffer Community, I am not an original co-founder nor am I a developer for the Epic Cash project. I am however a community member that is involved in helping scale this project to higher levels. One of the many beauties of Epic Cash is that every single member in the community has the opportunity to be part of EPIC’s team, it can be from development all the way to content producing. Epic Cash is a community driven project. The true Core Team of Epic Cash is our community. I believe a community that is the Core Team is truly powerful. EPIC Cash has one of the freshest and strongest communities I have seen in quite a while. Which is one of the reasons why I became involved in this project. Epic displayed some of the most self community produced content I have seen in a project. I’m actually a doctor of medicine but in terms of my experience in crypto, I have been involved in the industry since 2012 beginning with mining Litecoin. Since then I have been doing deep dive analysis on different projects, investing, and building a network in crypto that I will utilize to help connect and scale Epic in every way I can. To give some credit to those people in my network that have been a part of helping give Epic exposure, I would like to give a special thanks to u/Tetsugan and u/Saurabhblr. Tetsugan has been doing a lot of work for the Japanese community to penetrate the Japanese market, and Japan has already developed a growing interest in Epic. Daku Sarabh the owner and creator of Crypto Daku Robinhooders, I would like to thank him and his community for giving us one of our first large AMA’s, which he has supported our project early and given us a free AMA. Many more to thank but can’t be disclosed. Also thank you to all the Epic Community leaders, developers, and Content producers!
Max Freeman Project Lead at Epic Cash
I’m Max Freeman, which stands for “Maximum Freedom for Mankind”. I started working on the ideas that would become Epic in 2018. I fell in love with Bitcoin in 2017 but realized that it needs privacy at the base layer, fungibility, better scalability in order to go to the next level.
CryptoDiffer team
Really interesting backgrounds I must admit, pleasure to see the team that clearly has one vision of the project by being completely decentralized:)
Q2: Can you briefly describe what is Epic Cash in 3–5 sentences? What technology stands behind Epic Cash and why it’s better than the existing one?
Max Freeman Project Lead at Epic Cash
I’d like to highlight the differences between Epic and the two highest-valued privacy coin projects, Monero and Zcash. XMR has always-on privacy like Epic does, but at a cost: Its blockchain is over 20x more data intensive than Epic, which limits its possibilities for scalability. Epic’s blockchain is small and light enough to run a full node on cell phones, something that is in our product road map. ZEC by comparison can’t run on low end devices because of its zero knowledge based approach, and only 1% of transactions are fully private. Epic is simply newer, more advanced technology than prior networks thanks to Mimblewimble
We will also add more algorithms to widen the range of hardware that can participate in mining. For example, cell phones and tablets based around ARM chips. Millions of people can mine Epic that can’t mine Bitcoin, and that will help grow the network rapidly.
There are some great short videos on our YouTube channel https://www.youtube.com/channel/UCQBFfksJlM97rgrplLRwNUg/videos
that explain why we believe we have created something truly special here.
Our core architecture derives from Grin, so we are fortunate to benefit on an ongoing basis from their considerable development efforts. We are focused on making our currency truly usable and widely available, beyond a store of value and becoming a true medium of exchange.
Yoga Dude PR&Marketing at Epic Cash
Well we all have our views, but in a nutshell, we offer things that were missing in the previous cryptos. We have sound fiscal emission schedule matching Bitcoin, but we are vastly more private and faster. Our blockchain is lighter than Bitcoin or Monero and our tech is more scalable. Also, we are unique in that we are mineable with CPUs and GPUs as well as ASICs, giving the broadest population the ability to mine Epic Cash. Plus, you can’t forget FUNGIBILITY 🙂 we are big on that — since you can’t have true privacy without fungibility.
Also, please understand, we have HUGE respect to all the cryptos that came before us, we learned a lot from them, and thanks to their mistakes we evolved.
Xenolink Advisor at Epic Cash
To add on, what also makes Epic Cash unique is the ability to decentralize the mining using a tri-algo model of Random X (CPU), Progpow (GPU), and Cuckoo (ASIC) for an ability to do hybrid mining. I believe this is an issue we can see today in Bitcoin having centralized mining and the average user has a costly barrier of entry.
To follow up on this one in my opinion one of the things we adopted that we have seen success for , in example Bitcoin and Monero, is a strong community driven coin. I believe having a community driven coin will provide a more organic atmosphere especially when starting with No ICO, or Premine with a fair distribution model for everyone.
CryptoDiffer team
Q3: What are the major milestones Epic Cash has achieved so far? Maybe you can share with us some exciting plans for future weeks/months?
Yoga Dude PR&Marketing at Epic Cash
Since we went live in September of 2019, we attracted a very large community of users, miners, investors and contributors from across the world. Epic Cash is a very international project with white papers translated into over 30 languages. We are very much a community driven project; this is very evident from our content and the amount of translations in our white papers and in our social media content.
We are constantly working on improving our usability, security and privacy, as well as getting our message and philosophy out into the world to achieve mass adoption. We have a lot of exciting plans for our project, the plan is to make Epic Cash into something that is More than Money.
You can tell I am the Marketing guy since my message is less about the actual tech and more about the usability and use cases for Epic Cash, I think our Team and Community have a great mix of technical, practical, social and fiscal experiences. Since we opened our YouTube channels content for community submissions, we have seen our content translated into Spanish, French, German, Polish, Chinese, Japanese, Arabic, Russian, and other languages
Max Freeman Project Lead at Epic Cash
Our future development roadmap will be published soon and includes 4 tracks:
Usability
Mining
Core Protocol
Ecosystem Development
Core Protocol
Epic Server 2.9.0 — this release improves the difficulty adjustment and is aimed at making block emission closer to the target 60 seconds, particularly reducing the incidence of extremely short and long blocks — Status: In Development (Testing) Anticipated Release: June 2020
Epic Server 3.0.0 — this completes the rebase to Grin 3.0.0 and serves as the prerequisite to some important functional building blocks for the future of the ecosystem. Specifically, sending via Tor (which eliminates the need to open ports), proof of payment (useful for certain dex applications e.g. Bisq), and our native mobile app. Status: In Development (Testing) Anticipated Release: Fall 2020
Non-Interactive Transactions — this will enhance usability by enabling “fire and forget” send-to-address functionality that users are accustomed to from most cryptocurrencies. Status: Drawing Board Anticipated Release: n/a
Scaling Options — when blocks start becoming full, how will we increase capacity? Two obvious options are increasing the block size, as well as a Lightning Network-style Layer 2 structure. Status: Drawing Board Anticipated Release: n/a
Confidential Assets — Similar to Raven, Tari, and Beam, the ability to create independently tradable assets that ride on the Epic Blockchain. Status: Drawing Board Anticipated Release: n/a
Usability
GUI Wallet 2.0 — Restore from seed words and various usability enhancements — Status: Needs Assessment Anticipated Release: Fall 2020
Mobile App — Native mobile experience for iOS and Android. Status: In Development (Testing) Anticipated Release: Winter 2020
Telegram Integration — Anonymous payments over the Telegram network, bot functionality for groups. Status: Drawing Board Anticipated Release: n/a
Mining
RandomX on ARM — Our 4th PoW algorithm, this will enable tablets, cell phones, and low power devices such as Raspberry Pi to participate in mining. Status: Needs Assessment Anticipated Release: n/a
The economics of mining Epic are extremely compelling for countries that have free or extremely cheap electricity, since anyone with an ordinary PC can mine. Individual people around the world can simply run the miner and earn meaningful money (imagine Venezuela for example), something that has not been possible since the very early days of Bitcoin.
Ecosystem Development
Atomic Swaps — Connecting Epic to other blockchains in a trustless way, starting with ETH so that Epic can trade on DeFi infrastructure such as Uniswap, Kyber, etc. Status: Drawing Board Anticipated Release: n/a
Xenolink Advisor at Epic Cash
From the Community aspect, we have been further developing our community international reach. We have been seeing an increase in interest from South America, China, Russia, Japan, Italy, and the Philippines. We are working on targeting more countries. We truly aim to be a decentralized project that is open to everyone worldwide.
CryptoDiffer team
Great, thank you for your answers, we now can move to community questions part!
Cryptodiffer Community
You have 3 mining algorithms, the question is: how do they not compete with each other? Is there any benefit of mining on the GPU and CPU if someone is mining on the ASIC?
Max Freeman Project Lead at Epic Cash
The block selection is deterministic, so that every 100 blocks, 60% are for RandomX (CPU), 38% for ProgPow (GPU), and 2% for Cuckoo (ASIC) — the policy is flexible so that we can have as many algorithms with any percentages we want. The goal is to make the most decentralized and resilient network possible, and with that in mind we are excited to work on enabling tablets and cell phones to mine, since that opens it up to millions of people that otherwise can’t take part.
Cryptodiffer Community
To Run a project smoothly, Funding is very important, From where does the Funding/revenue come from?
Xenolink Advisor at Epic Cash
Yes, early on this was realized and in order to scale a project funds are indeed needed. Epic Cash did not start with any funding and no ICO and was organically genesis mined with no pre-mine. Epic cash is also a nonprofit community driven project similar to Monero. There is no profit-driven entity in the picture. To overcome the revenue issue Epic Cash setup a development fund tax that decreases 1% every year until 2028 when Epic Cash reaches singularity with Bitcoin emissions. Currently it is at 7.77%. This will help support the scaling of the project.
Cryptodiffer Community
Hi! In your experience working also with MONERO can you please clarify which are those identified problems that EPIC CASH aims to develop and resolve? What’s the main advantage that EPIC CASH has over MONERO? Thank you!
Yoga Dude PR&Marketing at Epic Cash
First, I must admit that I am still a huge fan and HODLer of Monero. That said:
✅ our blockchain is MUCH lighter than Monero’s
✅ our transaction processing speed is much faster
✅ our address-less blockchain is more private
✅ Epic Cash can be mined with CPU (RandomX) GPU (ProgPow) and Cuckoo, whereas Monero migrated to RandomX and currently only mineable with CPU
Cryptodiffer Community
  1. the feature ‘Cut Through’ deletes old data, how is it decided which data will be deletes, and what are the consequences of it for the platform and therefore the users?
  2. On your website I see links to download Epic wallet and mining software for Linux,Windows and MacOs, I am a user of android, is there a version for me, or does it have a release date?
Max Freeman Project Lead at Epic Cash
  1. This is one of the most exciting features of Mimblewimble, which is its extraordinary ability to compress blockchain data. In Bitcoin, the entire history of a coin must be replayed every time it is spent, and comprehensive details are permanently stored in the blockchain. Epic discards spent transaction inputs and consolidates outputs, storing neither addresses or amounts, only a tiny kernel to allow sender and receiver to prove their transaction.
  2. The Vitex mobile app is great for today, and we have a native mobile app for iOS and Android in the works as well.
Cryptodiffer Community
$EPIC Have total Supply of 21,000,000 EPIC , is there any burning plan? Or Buyback program to maintain $EPIC price in the future?
Who is Epic Biggest competitors?
And what’s makes epic better than competitors?
Xenolink Advisor at Epic Cash
We respect the older generation coins like Bitcoin. But we have learned that the supply economics of Bitcoin is very sound. Until today we can witness how the Bitcoin is being adopted institutionally and by retail. We match the 21 million BTC supply economics because it is an inelastic fixed model which makes the long-term economics very sound. To have an elastic model of burning tokens or printing tokens will not have a solid economic future. Take for example the USD which is an inflating supply. In terms of competitors we look at everyone in crypto with respect and also learn from everyone. If we had to compare to other Mimblewimble tech coins, Grin is an inelastic forever inflating supply which in the long term is not sound economics. Beam however is an inelastic model but is formed as a corporation. The fair distribution is not there because of the permanent revenue model setup for them. Epic Cash a non-profit development tax fund model for scaling purposes that will disappear by 2028’s singularity.
Cryptodiffer Community
What your plans in place for global expansion, are you focusing on only market at this time? Or focus on building and developing or getting customers and users, or partnerships?
Yoga Dude PR&Marketing at Epic Cash
Since we are a community project, we have many developers, in addition to the core team.
Our plans for Global expansion are simple — we have advocates in different regions addressing their audiences in their native languages. We are growing organically, by explaining our ideology and usability. The idea is to grow beyond needing a fiat bridge for crypto use, but to rather replace fiat with our borderless, private and fungible crypto so people can use it to get goods and services without using banks.
We are not limiting ourselves to one particular demographic — Epic Cash is a valid solution for the gamers, investors, techie and non techie people, and the unbanked.
Cryptodiffer Community
EPIC confidential coin! Did you have any problems with the regulators? And there will be no problems with listing on centralized exchanges?
Xenolink Advisor at Epic Cash
In terms of structure, we are carefully set up to minimize these concerns. Without a company or investors in the picture, and having raised no funds, there is little scope to attack in terms of securities laws. Bitcoin and Ethereum are widely acknowledged as acceptable, and we follow in their well-established footprints in that respect. Centralized exchanges already trade other privacy coins, so we don’t see this as much of an issue either. In general, decentralized p2p exchange options are more interesting than today’s centralized platforms. They are more censorship resistant, secure, and privacy-protecting. As the technology gets better, they should continue to gain market share and that’s why we’re proud to be partnered with Vitex, whose exchange and mobile app work very well.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Max Freeman Project Lead at Epic Cash
Because our blockchain is so light (only 1.16gb currently, and grows very slowly) it is naturally well suited to become a decentralized mobile money standard because people can run a full node on their phone, guaranteeing the security of their funds. Scalability in Bitcoin requires complicated and compromised workarounds such as Lightning Network and light clients, and these problems are solved in Epic.
With our forthcoming Mobile Mining app, hundreds of millions of cell phones and tablets will be able to easily join the network. People can quickly and cheaply send money to one another, fulfilling the long-envisioned promise of P2P electronic cash.
As an investor, it’s important to ask a few key questions. Bitcoin Standard tokenomics of disinflation and a fixed supply are well proven over a decade now. We follow this model exactly, with a permanently synchronized supply from 2028, and 4 emission halvings from now until then, with our first one in about two weeks. Beyond that, we can apply some simple logical tests. What is more valuable, money that can only be used in some cases (censorable Bitcoin based on a lack of fungibility) or money that can be used universally? (fungible Epic based on always-on privacy by default). Epic is also poised to be a more decentralized and therefore resilient network because of wider participation in mining. Epic is designed to be Bitcoin++ Privacy, Fungibility, Scalability
Cryptodiffer Community
Q1. What are advantages for choosing three mining algorithms RandomX+, ProgPow and CuckAToo31+ ?
Q2. Beam and Grin use MimbleWimble protocol, so what are difference for Epic? All of you will be friends for partners or competitors?
Max Freeman Project Lead at Epic Cash
RandomX and ProgPow are designed to use the entirety of a CPU / GPU’s unique processing capabilities in a way that other types of hardware don’t work as well. You can run RandomX on a GPU but it doesn’t work nearly as well as a much cheaper CPU, for example. Cuckoo is a “memory hard” algorithm that widens the range of companies that can produce the hardware.
Grin and Beam are great projects and we’ve learned a lot from them. We inherited our first codebase from Grin’s excellent Rust design, which is a better language for community participation than C++ that Beam currently uses.
Functionally, Mimblewimble is similar across the 3 coins, with standard Confidential Transactions, CoinJoin, Dandelion++, Schnorr Signatures and other advanced features. Grin is primarily ASIC-targeted, Beam is GPU-targeted, and Epic is multi-hardware.
The biggest differences though are in tokenomics and project structure. Grin has permanent inflation of 60 coins per block with no halvings, which means steady erosion of value over time due to new supply pressure. It also lacks a steady funding model, making future development in jeopardy, particularly as the per coin price falls. Beam has a for-profit model with heavy early inflation and a high developer tax. Epic builds on the strengths of these earlier mimblewimble projects and addresses the parts that could be improved.
Cryptodiffer Community Some privacy coin has scalability issues! How Epic cash will solve scalability issues? Why you choose randomX consensus algorithem?
Xenolink Advisor at Epic Cash
Fungibility means that you can’t distinguish one unit of currency from another, in example Gold. Fungibility has recently become a hot issue as people have been noticing Bitcoins being locked up by exchanges which may of had a nefarious history which are called Tainted Coins. In example coins that have been involved in a hack, darknet market transactions, or even processing coin through a mixer. Today we can already see freshly mined Bitcoins being sold at a premium price to avoid the fungibility problem Bitcoin carries today. Bitcoin can be tracked by chainalysis and is not a fungible cryptocurrency. One of the features that Epic has is privacy with added fungibility, because of Mimblewimble technology, Epic has no addresses recorded and therefore nothing can be tracked by chainalysis. Below I provide a link of an example of what the lack of fungibility is resulting in today with Bitcoin. One of the reasons why we chose the Random X algo. is because of the easy barrier of entry and also to further decentralize the mining. Random X algo can be mined on old computers or laptops. We also have 2 other algos Progpow (GPU), and Cuckoo (ASIC) to create a wider decentralization of mining methods for Epic.
Cryptodiffer Community
I’m a newbie in crypto and blockchain so how will Epic Cash team target and educate people who don’t know about blockchain and crypto?
What is the uniqueness of Epic Cash that cannot be found in other project that´s been released so far ?
Yoga Dude Pr&Marketing at Epic Cash
Actually, while we have our white paper translated into over 30 languages, we are more focused on explaining our uses and advantages rather than cold specs. Our tech is solid, but we not get hung up on pure tech talk which most casual users do not need to or care to understand. As long as our fundamentals and tech are secure and user friendly our primary goal is to educate about use cases and market potential.
The uniqueness of Epic Cash is its amalgamation of “whats good” in other cryptos. We use Mimblewimble for privacy and anonymity. Our blockchain is much lighter than our competitors. We are the only Mimblewimble crypto to use a unique cocktail of mining algorithms allowing to be mined by casual miners with gaming rigs and laptops, while remaining friendly to GPU and CPU farmers.
The “uniqueness” is learning from the mistakes of those who came before us, we evolved and learned, which is why our privacy is better, we are faster, we are fungible, we offer diverse mining and so on. We are the best blend — thats powerful and unique
Cryptodiffer Community
Can you share EPIC’s vision for decentralized finance (DEFI)? What features do EPIC have to support DEFI?
Yoga Dude PR&Marketing at Epic Cash
We view Epic as ideally suited to be the decentralized digital reserve asset of the new Private Internet of Money that’s emerging. At a technology level, atomic swaps can be created to build liquidity bridges so that wrapped Epic tokens (like WBTC, WETH) can trade on other networks as ERC20, BEP2, NEP5, VIP180, Algorand and so on. There is more Bitcoin value locked on Ethereum than in Lightning Network, so we will similarly integrate Epic so that it can trade on networks such as Uniswap, Kyber, and so on.
Longer term, if there is market demand for it, thanks to Scriptless Script functionality our blockchain has, we can build “Confidential Assets” (which Raven, Tari, and Beam are all also working on) that enable people to create tokenized assets in a private way.
Cryptodiffer Community
If you could choose one celebrity to promote Epic-cash, who that would be?
Max Freeman Project Lead at Epic Cash
I am a firm believer that the strength of the project lies in allowing community members to become their own celebrities, if their content is good enough the community will propel them to celebrity status. Organic celebrities with small but loyal following are vastly more beneficial than big name professional shills with inflated but non caring audiences.
I remember the early days of Apple when an enthusiastic dude named Guy Kawasaki became Apple Evangelist, he was literally going around stores that sold Apple and visited user groups and Evangelized his belief in Apple. This guy became a Legend and helped Apple become what it is today.
Epic Cash will have its OWN Celebrities
Cryptodiffer Community
How does $EPIC solve scalability of transactions? Current blockchains face issues with scalability a lot, how does $EPIC creates a solution to it?
Xenolink Advisor at Epic Cash
Epic Cash is utilizing Mimblewimble technology. Besides the privacy & fungibility aspect of the tech. There is the scalability features of it. It is implemented into Epic by transaction cut-through. Which means it allows nodes to remove all intermediate transactions, thus significantly reducing the blockchain size without affecting its validation. Mimblewimble also does not use addresses like a BTC address, and amount of transactions are also not recorded. One problem Monero and Bitcoin are facing now is scalability. It is evident today that data is getting more expensive and that will be a problem in the long run for those coins. Epic is 90% lighter and more scalable compared to Monero and Bitcoin.
Cryptodiffer Community
what are the ways that Epic Cash generates profits/revenue to maintain your project and what is its revenue model ? How can it make benefit win-win to both invester and your project ?
Max Freeman Project Lead at Epic Cash
There is a block subsidy of 7.77% that declines 1.11% per year until 0, where it stays after that. As a nonprofit community effort, this extremely modest amount goes much further than in other projects, which often take 20, 30, even 50+ % of the coin supply. We believe that this ongoing funding model best aligns the long term incentives for all participants and balances the compromises between the ends of the centralized/decentralized spectrum of choices that any project must make.
Cryptodiffer Community
Q1 : What are your major goals to archive in the next 3–4 years?
Q2 : What are your plans to expand and gain more adoption?
Yoga Dude Pr&Marketing at Epic Cash
Max already talked about our technical plans and goals in his roadmap. Allow me to talk more about the non technical 😁
We are aiming for broader reach in the non technical more mainstream community — this is a big challenge but we believe it is doable. By offering simpler ways to mine Epic Cash (with smart phones for example), and by doing more education we will achieve the holy grail of crypto — moving past the fiat bridges and getting Epic Cash to be accepted as means of payment for goods and services. We will accomplish this by working with regional advocacy groups, community interaction, off-line promotional activities and diverse social media targeting.
Cryptodiffer Community
It seems to me that EpicCash will have its first Halving, right? Why a halving so soon?
Is a mobile version feasible?
Max Freeman Project Lead at Epic Cash
Our supply emission catches up to that of Bitcoin’s first 19 years after 8 years in Epic, so that requires more frequent halvings. Today’s block emission is 16, next up are 8, 4, 2, and then finally 0.15625. After that, the supply of Epic and that of BTC stay synchronized until maxing out at 21m coins in 2140.
Today we have a mobile wallet through the Vitex app, a native mobile wallet coming, and are working on mobile mining.
Cryptodiffer Community
What markets will you add after that?
Yoga Dude PR&Marketing at Epic Cash
Well, we are aiming to have ALL markets
Epic Cash in its final iteration will be usable by everyone everywhere regardless of their technical expertise. We are not limiting ourselves to the technocrats, one of our main goals is to help the billions of unbanked. We want everyone to be able to mine, buy, and most of all USE Epic Cash — gamers, farmers, soccer moms, students, retirees, everyone really — even bankers (well once we defeat the banking industry)
We will continue building on the multilingual diversity of our global community adding support and advocacy groups in more countries in more languages.
Epic Cash is More than Money and its for Everyone.
Cryptodiffer Community
Almost, all cryptocurrencies are decentralized & no-one knows who owns that cryptocurrencies ! then also, why Privacy is needed? hats the advantages of Private coins?
Max Freeman Project Lead at Epic Cash
With a public transparent blockchain such as Bitcoin, you are permanently posting a detailed history of your money movements open for anyone to see (not just legitimate authorities, either!) — It would be considered crazy to post your credit card or bank statements to Twitter, but that’s what is happening every time you send a transaction that is not private. This excellent video from community contributor Spencer Lambert https://www.youtube.com/watch?v=0blbfmvCq\_4 explains better than I can.
Privacy is not just for criminals, it’s for everyone. Do you want your landlord to increase the rent when he sees that you get a raise? Your insurance company to raise your healthcare costs because they see you buying too much ice cream? If you’re a business, do you want your employees to see how much money their coworkers make? Do you want your competitors to trace your supplier and customer relationships? Of course not. By privacy being default for everyone, cryptocurrency can be used in a much wider range of situations without unacceptable compromises.
Cryptodiffer Community
What are the main utility and real-life usage of the #EPIC As an investor, why should we invest in the #EPIC project as a long-term investment?
Xenolink Advisor at Epic Cash
Epic Cash can be used as a Private and Fungible store of value, medium of exchange, and unit of account. As Epic Cash grows and becomes adopted it can be compared to how Bitcoin and Monero is used and adopted as well. As Epic is adopted by the masses, it can be accepted as a medium of exchange for store owners and as fungible payments without the worry of having money that is tainted. Epic Cash as a store of value may be a good long term aspect of investment to consider. Epic Cash carries an inelastic fixed supply economic model of 21 million coins. There will be 5 halvings which this month of June will be our first halving of epic. From a block reward of 16 Epic reduced to 8. If we look at BTC’s price action and history of their halvings it has been proven and show that there has been an increase in value due to the scarcity and from halvings a reduction of # of BTC’s mined per block. An inelastic supply model like Bitcoin provides proof of the circulating supply compared to the total supply by the history of it’s Price action which is evident in long term charts since the birth of Bitcoin. EPIC Plans to have 5 halvings before the year 2028 to match the emissions of Bitcoin which we call the singularity event. Below is a chart displaying our halvings model approaching singularity. Once bitcoin and cryptocurrency becomes adopted mainstream, the fungibility problem will be more noticed by the general public. Privacy coins and the features of fungibility/scalability will most likely be sought over. Right now a majority of people believe that all cryptocurrency is fungible. However, that is not true. We can already see Chainalysis confirming that they can trace and track and even for other well-known privacy coins today such as Z-Cash.
Cryptodiffer Community
  1. You aim to reach support from a global community, what are your plans to get spanish speakers involved into Epic Cash? And emerging markets like the african
  2. How am I secure I won’t be affected by receiving tainted money?
Max Freeman Project Lead at Epic Cash
Native speakers from our community are working to raise awareness in key markets such as mining in Argentina and Venezuela for Spanish (Roberto Navarro called Epic “the holy grail of cryptocurrency” and Ethiopia and certain North African countries that have the lowest electricity costs in the world. Remittances between USA and Latin American countries are expensive and slow, so Epic is also perfect for people to send money back home as well.
Cryptodiffer Community
Do EPICs in 2020 focus more on research and coding, or on sales and implementation?
Yoga Dude PR&Marketing at Epic Cash
We will definitely continue to work on research and coding, with emphasis on improved accessibility (especially via smartphones) usability, security and privacy.
In terms of financial infrastructure will continuing to add exchanges both KYC and non KYC.
Big part of our plans is in ongoing Marketing and PR outreach. The idea is to make Epic Cash a viral sensation of sorts. If we can get Epic Cash adopters to spread the word and tell their family, coworkers and friends about Epic Cash — there will be no stopping us and to help that happen we have a growing army of content creators, and supporters.
Everyone with skin in the game gets the benefit of advancing the cause.
Folks also, this isn’t an answer to the question but an example of a real-world Epic Cash content —
https://www.youtube.com/watch?v=XtAVEqKGgqY
a challenge from one of our content creators to beat his 21 pull ups and get 100 epics! This has not been claimed yet — people need to step up 🙂 and to help that I will match another 100 Epic Cash to the first person to beat this
Cryptodiffer Community
I was watching some videos explaining how to send and receive transactions in EpicCash, which consists of ports and sending links, my question is why this is so, which, for now, looks complex?
Let’s talk about the economic model, can EpicCash comply with the concept of value reserve?
Max Freeman Project Lead at Epic Cash
In V3, which is coming later this summer, Epic can be sent over Tor, which eliminates this issue of port opening, even though using tools like ngrok.io, it’s not necessarily as painful as directly configuring the router ports. Early Lightning Network had this issue as well and it’s something we have a plan to address via research into non-interactive transactions. “Fire and Forget” payments to an address, as people are used to in Bitcoin, is coming to Epic and we’re excited to develop functionality that other advanced mimblewimble coins don’t yet have. We are committed to constant improvement in usability and utility, to make our money system the ease of use leader.
We are involved in the project (anyone can join the Freeman Family) because we believe that simply by choosing to use a form of money that better aligns with our ideals, that we can make a positive change in the world. Some of my thoughts about how I got involved are here: https://medium.com/epic-cash/the-freeman-family-e3b9c3b3f166
Max Freeman Project Lead at Epic Cash
Huge thanks to our friends Maks and Vladyslav, we welcome everyone to come say hi at one of our friendly communities. It is extremely early in this journey, our market cap is only 0.5m right now, whereas the 3 other mimblewimble coins are at $20m, $30m and $100m respectively. Epic is a historic opportunity to follow in the footsteps of legends such as Bitcoin and Monero, and we hope to become the first Top 5 privacy coin project.
Xenolink Advisor at Epic Cash
Would like to Thank the Cryptodiffer Team and the Cryptodiffer community for hosting us and also engaging with us to learn more about Epic. If anyone else has more questions and wants to know more about EPIC , can find us at our telegram channel at https://t.me/EpicCash .
Yoga Dude Pr&Marketing at Epic Cash
Thank you, CryptoDiffer Team, and this wonderful Community!!!
Cryptodiffer TEAM
Thank you everyone for taking your time and asking great questions
Thank you for your time, it was an insightful session
Spread the love
submitted by EpicCashFrodo to epiccash [link] [comments]

Playkey is looking for miners on a commercial basis

We are ready to scale up our decentralized cloud gaming platform and are inviting miners to join us on a commercial basis. Based on our estimations, owners of mining hardware will be able to make up to six times more money from renting out hardware for gaming instead of mining.
Mining crypto currency with GPU farms is no longer as profitable as it used to be. Bitcoin, Ethereum, Litecoin and other currencies are also falling in popularity. Whattomine.com estimates that a single mining machine can generate up to $15/month, whereas with Playkey once you go through the approval process we would pay you $50/month for a similarly spec’d machine.
This will greatly benefit players, as it allows to lower the gaming latency, especially for the Eastern Russia. We plan to connect miners across Russia as well as other countries, so that players would no longer have to worry about the location of the main data centers.
In order to participate in the commercial testing miners should fill in the application at https://playkey.io/en/miners/. Afterwards, the instructions on how to join will be sent out to the email provided.
How much, when and how you will get paid for renting out your PC:
  1. During the beta stage the reward is $50 per virtual machine (for a 30 day period).
  2. We pay the reward after 30 days of your machine being connected to the service.
  3. The payout options are diverse and you can choose one according to your preferences and legal status. Here are the options:
  1. In order to receive your reward and request a payout, email us at support_[email protected] after 30 days of being connected to Playkey. Use “Payout request” as your email subject.
  2. A stand-alone PC
  3. Minimal requirements:
  1. An 8 Gb flash drive for the initial unfolding
  2. Wired 50 Mb/s or faster Internet connection
  3. HDMI dummy plug or a connected HDMI display.
This is an open beta test, so there is a chance that some unexpected situations may occur. We will work out solutions as we go. After all, we could be the very first decentralized cloud gaming platform that enables users to rent out their hardware and get paid for it. This is a challenging task as much as it is something to be proud of. Let’s figure it out together. Join us!
submitted by memprojek2e to Playkey [link] [comments]

Forbes miner's union plan, let you make it clear

Forbes miner's union plan, let you make it clear

https://preview.redd.it/51dwnbfy30451.png?width=900&format=png&auto=webp&s=79b57b192df4f4f11f0c7eb6ae849b169891f37c
Learn from famous teachers: Dao organization comes from Cosmos, poca and other well-known open source projects as well as a number of Wall Street financial practitioners
Grounded Technology: the core research direction of blockchain developers "cross chain"
Looking at finance: building distributed financial infrastructure
Layout of mining industry: "mining machine, mine field and mine pool", and strive to build a trinity of mining giant whale in 2020
In 2020, Forbes, the most concerned blockchain 4.0 project, is about to launch its global mining plan: Forbes has released its own ASIC chip bitcoin miner, and GFS hard disk miner is under development. At the same time, Forbes deployed mines in various regions of the world, including China, Southeast Asia, the United States, Australia, Russia and other places, to protect the "consensus".
Forbes receives f2pool Based on the deployment of mining machines and mines in 2020, the Forbes plan will be launched with the strong support of internationally renowned mining pools. It is expected to build into the world's largest, most open and transparent comprehensive mine pool within three years.
Miner and quarry
Blockchain is revolutionary. It allows anyone to own and transfer assets through an open financial network without a trusted third party. There are now thousands of blockchain based assets, and the main way to produce encrypted assets is mining. "Mining", i.e. encrypted assets, represents the wealth anchored by the blockchain system, "mining" is the most direct means for all the network to obtain wealth. When the miner obtains the right to pack the blocks according to the consensus rules based on cryptography, and packages all the transactions correctly, the mining behavior can obtain the reward (token) given by the blockchain system for its honest record of the blocks, and when the blockchain system gains value promotion due to the growth and development of the participants, the token obtained by the miner will also be given higher and higher The secondary market value of. The miners produced the initial system pass. Therefore, mining industry has become the most upstream of blockchain industry.
It can be said that mining industry is the foundation of the whole blockchain industry, which determines the 0 or 1 of a blockchain system. The mining equipment we use is the miner.
https://preview.redd.it/jvfi6mfg40451.png?width=780&format=png&auto=webp&s=19dad192911d4a9addc1d285c7db5491c75904b0
The miner is essentially a computer. Personal computer is generally composed of CPU, GPU, memory, hard disk, motherboard and other devices. Mineral machinery is no exception in nature. Any mineral machinery is composed of motherboard + hard disk + mining chip. However, due to different mining machines for different algorithms of digital assets, such as GPU (or ASIC) for BTC, ETH mining, CPU for Monroe money mining, hard disk for IPFs, Bhd and other projects mining.
Forbes mining machine in the main board, hard disk, mining chip innovation, Forbes uses dpoc consensus algorithm, belongs to the hard disk mining branch. Forbes with the strongest computing power is also in the field of the Internet of things. In foreign countries, everything is connected, hundreds of millions of intelligent devices are connected with each other, and they have super computing power and stability. Forbes mining machines all over the world will be very suitable for the deployment of Internet of things protocol, and become an important component of blockchain + Internet of things.
The mine site is the offline site for the deployment and maintenance of mining machines. But for ordinary investors who want to enter the market, mining is difficult because the mining threshold is too high. Personal users want to mine, there is a huge deployment threshold and technical threshold. First of all, individuals can not get excellent electricity price, high temperature and high noise environment makes it impossible for users to mine at home. In addition, mining needs to be configured and deployed, and expensive mining machines need to be maintained regularly. Musk said that Tesla is not selling cars, but workshops. Standardization is necessary for an industry to achieve success. In the early miner Alliance Plan, Forbes launched its own BTC ASIC chip and bitcoin miner. At the same time, combined with major capitals, it created a global standardized Forbes mine, which was deployed and maintained in a unified way, greatly extending the service life of Forbes miner. According to the simulation test, Forbes I miner can operate stably for more than six years, which greatly reduces the mining cost and enables investors to obtain higher profits. Later, Forbes will log in to the Forbes hard disk miner in the ore pool after the main network goes online.
Forbes miners Alliance Program
Miner Alliance Plan: during a period of time when Forbes main network goes online, users can use collateral parallel chain assets (such as usdt, BTC, etc.) to lease computing power to deploy mining machines in global mines. In the lease term, the deposit is returned by the smart contract according to the number of days, and the mining revenue is obtained by the early participating nodes.
Due to the cross chain implementation of Forbes, a large number of nodes need to be deployed in the early days to complete the information interaction between the relay chain and the parallel chain. And with the scale of ore pool access, the marginal cost of new mining machines will be lower and lower, and the revenue will grow steadily. Therefore, Forbes started the plan of Forbes miners' alliance, realized the rapid scale of the mining pool with market funds, and realized the stable growth of mining profits.
Through the miner alliance, users can rent mining machines. In the form of "deposit contract" to ensure that each miner's fund is dedicated, and at the same time, for each miner, it is considered to realize the real deposit settlement on schedule through the blockchain intelligent contract. After the Forbes miner generates mining revenue, the user will get kusd stable currency. In the operation plan of Forbes Dao, all the miners who join the mine have the opportunity to convert part of the profits into GFS with unlimited potential.
It is estimated that the early participants in the Forbes miner's program will have more than 1.6 times the deposit during the lease term of one year. It was asked where such gains came from. In fact, as a representative project of blockchain 4.0, the appreciation of GFS is inevitable. At present, the trading of GFS secondary market has increased by more than 10 times in a week. With the continuous extension of parallel chain and the continuous exploration of financial business, there is almost no doubt that the growth of GFS exceeds that of bitcoin in a year, even if it is halved. Forbes Dao mass produces Forbes super miner through the digital assets mortgaged by users. After the cost is removed, it covers more than 1.6 times of the revenue to nodes. Almost the secondary market value of GFS alone is far beyond.
In addition, the BTC value dug out in the miner's Alliance plan will become a stable support for the miner's Alliance Plan, and 2020 is known as bitcoin minus half a year. Get BTC while digging GFS. To say the least, the price of GFS has fluctuated, and the BTC dug out is actually stable. Not to mention that the layout of Forbes gold stable currency, Forbes DEX and so on has been dragged down, and the user's income is cashed at any time. Forbes' miner plan is a three-way and multi win business initiative, which is the distributed power.
submitted by forbeschain to u/forbeschain [link] [comments]

Is Mining Bitcoin Still Profitable in 2020? - YouTube IS GPU MINING WORTH IT JULY 2019? -💸PROFITABLE OR NOT ... By Far The BEST Bitcoin Mining Software In 2020 💸Profitable💸 IS GPU MINING WORTH IT MAY 2019? -PROFITABLE INVESTMENT? Should YOU be GPU MINING Cryptocurrency in 2020?! - YouTube

Bitcoin is being mined because there’s an economic incentive! What people mean when they say you can’t mine Bitcoin anymore is that there’s no computer powerful enough that could mine Bitcoin and make a profit. The Bitcoin mining has evolved to a point where businesses are creating ASIC’s to mine Bitcoin. Bitcoin is the most profitable if you have millions to invest. Crypto mining profitability is highly nuanced, it depends on a wide range of variables such as hardware, electricity costs, and the type of cryptocurrency you would like to mine.. Bitcoin is the most profitable coin to mine currently, although not if you’re an individual miner, in most cases. Let’s talk about bitcoin mining in 2019. Is bitcoin mining profitable in 2019? We will discuss the bitmain antminer S17 pro, The INNOSILICON T3-50T BTC Miner, … GPU chips are much more efficient at calculating the SHA-256 algorithm than CPUs. They also achieved a better energy-to-hash ratio. This increased both the difficulty of the mining sector and the profitability for miners who decided to upgrade their hardware to GPU rigs. Is Bitcoin Mining Profitable? ASIC Rigs. ASIC mining rigs took mining BTC ... Is Mining Bitcoin Profitable? Unfortunately, this is a difficult question to answer. Bitcoin mining profitability depends on many factors. In order to find out mining profitability bitcoin mining profitability calculators were invented. They take into account many parameters such as the cost of your hardware, electricity cost and other network related variables that you do not have an ...

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Is Mining Bitcoin Still Profitable in 2020? - YouTube

Is GPU mining worth it in july 2019? Is it profitable to start mining with a gpu some cryptocurrencies or with a mining rig. #bitcoin #cryptocurrency #bitcoi... Send Your Mining Rig Pics in Discord be featured in upcoming Community Mining Rigs Episodes! Buy GPU's on Amazon - https://geni.us/46Bo1 Favorite GPU For Mining: https://geni.us/MaOtD Is GPU mining still worth it? Is GPU mining profitable in 2020?! We review GPU mining profitable and the best graphics cards for mining in 2020 along with CP... Is GPU mining Profitable/worth it in may 2019? Should you start a GPU mining farm or build a GPU mining rig in 2019? You will see information regarding crypto mining, ethereum mining, and other ... #bitcoin #bitcoinmining #bitcoinminingsoftware By Far The BEST Bitcoin Mining Software In 2020 (Profitable). This is a review on the most profitable, easy, a...

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