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IOTA is a great project to invest in but first you need to know some things about it:
* **It is not based on Blockchain**
* **It has no miners**
* **It has no fees**
Tangle is the revolutionary idea that IOTA brings to the table when it comes to how transactions are deployed in the network - Before you create a new transaction, you have to verify with your device, 2 random transactions that are waiting for confirmation in the network.
The beautiful thing about this is that the network is so lightweight that you can use any device to verify those 2 random selected transactions - Computer, laptop, phone, car and even your fridge.
This makes it possible for the main goal of IOTA - The internet of Things - Imagine your fridge having his own identity and wallet that would make him eligible to send a transaction into the network when it runs out of milk so you could enjoy it fresh the next morning.
It also solves the scalability problem in blockchain whereas more people are using the network the more congested it gets - Thats not the case with Tangle because as more machines and devices are using it the faster the entire network becomes because of the 2 transaction confirmations every node has to make.
IOTA is in the beta testings because of its security breaches where they state that a device with the power of 34 % of the network hash power could easily tamper with its data - **Thats when they introduced the Coordinator** - Every minute the Coordinator makes a normal transaction with its signature on it, and we call these **Milestones**.
Every transaction (including Milestones) verifies two other transactions. When you want to know if a transaction is verified, you find the newest Milestone and you see if it indirectly verifies your transaction (i.e it verifies your transaction, or if verifies a transaction that verifies your transaction, or if it verifies a transaction that verifies a transaction that verifies your transaction, etc).
The reason that the Milestones exist is because if you just picked any random transaction, there's the possibility that the node you're connected to is malicious and is trying to trick you into verifying its transactions.
The people who operate nodes can't fake the signatures on Milestones, so you know you can trust the Milestones to be legit.
They are planning to use the Coordinator until the network matures and it would be almost impossible for someone to have the 34% hashing power of the network to atack it.
IOTA is getting more and more attention as being the main actor in the Internet of Things bringing security and scalability to the machines.
* **It is not based on Blockchain**
* **It has no miners**
* **It has no fees**
Tangle is the revolutionary idea that IOTA brings to the table when it comes to how transactions are deployed in the network - Before you create a new transaction, you have to verify with your device, 2 random transactions that are waiting for confirmation in the network.
The beautiful thing about this is that the network is so lightweight that you can use any device to verify those 2 random selected transactions - Computer, laptop, phone, car and even your fridge.
This makes it possible for the main goal of IOTA - The internet of Things - Imagine your fridge having his own identity and wallet that would make him eligible to send a transaction into the network when it runs out of milk so you could enjoy it fresh the next morning.
It also solves the scalability problem in blockchain whereas more people are using the network the more congested it gets - Thats not the case with Tangle because as more machines and devices are using it the faster the entire network becomes because of the 2 transaction confirmations every node has to make.
IOTA is in the beta testings because of its security breaches where they state that a device with the power of 34 % of the network hash power could easily tamper with its data - **Thats when they introduced the Coordinator** - Every minute the Coordinator makes a normal transaction with its signature on it, and we call these **Milestones**.
Every transaction (including Milestones) verifies two other transactions. When you want to know if a transaction is verified, you find the newest Milestone and you see if it indirectly verifies your transaction (i.e it verifies your transaction, or if verifies a transaction that verifies your transaction, or if it verifies a transaction that verifies a transaction that verifies your transaction, etc).
The reason that the Milestones exist is because if you just picked any random transaction, there's the possibility that the node you're connected to is malicious and is trying to trick you into verifying its transactions.
The people who operate nodes can't fake the signatures on Milestones, so you know you can trust the Milestones to be legit.
They are planning to use the Coordinator until the network matures and it would be almost impossible for someone to have the 34% hashing power of the network to atack it.
IOTA is getting more and more attention as being the main actor in the Internet of Things bringing security and scalability to the machines.
Yes but they will only be available for accredited investors with a certain amount of money in their bank accounts - That's because more and more countries are regulating ICO's.
It will be hard even for you to do an ICO because you will need a starter capital which in Russia has to be $1.7 mln - Insane right?
We need to find a way to stay above this regulations and let regular people have the opportunity to invest again in revolutionary projects.
It will be hard even for you to do an ICO because you will need a starter capital which in Russia has to be $1.7 mln - Insane right?
We need to find a way to stay above this regulations and let regular people have the opportunity to invest again in revolutionary projects.
Re: How to send bitcoins to your future self after you die?
You have to implement a smart contract stating to send the funds to a specific address at a specific date in time you believe you will be reincarnated.
I do have to say, you have to be very precise about this
)
Good luck!
I do have to say, you have to be very precise about this
) Good luck!
For the time being, cash is better than bitcoin - Why ?
You can notice it every time a series of bad news enter this space it immediatelly creates panic and people move to fiat.
Even early adopters do this. - They move to fiat on bad days and enter the markets when times are looking good.
Even though bitcoin is a great currency fulfilling most of the demands of what makes a good middle of exchange - It lacks sustainability in price.
People fear volatility - they want something that is stable.
The future looks bright though, with more money and regulations entering cryptocurrency exchanges that could stabilise the prices.
You can notice it every time a series of bad news enter this space it immediatelly creates panic and people move to fiat.
Even early adopters do this. - They move to fiat on bad days and enter the markets when times are looking good.
Even though bitcoin is a great currency fulfilling most of the demands of what makes a good middle of exchange - It lacks sustainability in price.
People fear volatility - they want something that is stable.
The future looks bright though, with more money and regulations entering cryptocurrency exchanges that could stabilise the prices.
We need crypto ATM's because we forgot the main purpose of bitcoin - It needs to be anonymous.
Governments regulation made every bitcoin account tied to your ID - KYC
BTC ATM's are the only option left to buy bitcoin and remain anonymous. - We need them.
Governments regulation made every bitcoin account tied to your ID - KYC
BTC ATM's are the only option left to buy bitcoin and remain anonymous. - We need them.
Try to do 2 different things at once :
Go to the gym and while working out, listen to your favorite podcasts.
Instead of listening to radio on your way to work, you can easily listen to a youtube video on matter you have a large interest.
Get up on hour early, you will thank me for this one - Try to get up earlier every morning until you manage your time.
I wake up at 6 in the morning, that gives me a whole hour before going to work, which i can use to work for my dream.
Go to the gym and while working out, listen to your favorite podcasts.
Instead of listening to radio on your way to work, you can easily listen to a youtube video on matter you have a large interest.
Get up on hour early, you will thank me for this one - Try to get up earlier every morning until you manage your time.
I wake up at 6 in the morning, that gives me a whole hour before going to work, which i can use to work for my dream.
Why i believe bitcoin will be increasing in value:
Its the first cryptocurrency and it gets the most attention.
It has the greatest computation power making it the most secure digital coin in the world.
They have one of the best development teams in the world working on the implementing lightning network update (Off-chain transactions and lower fees) - Thus making it eligible for mass adoption.
It has a limited supply of 21,000,000. - People are referring to it as Digital Gold.
So therefore, in a best case scenario, if bitcoin manages to remain the king of the cryptocurrency market until 2140, we could say that 1 bitcoin could be worth $100,000.00 - But by then, i dont think the US$ will be worth anything.
Its the first cryptocurrency and it gets the most attention.
It has the greatest computation power making it the most secure digital coin in the world.
They have one of the best development teams in the world working on the implementing lightning network update (Off-chain transactions and lower fees) - Thus making it eligible for mass adoption.
It has a limited supply of 21,000,000. - People are referring to it as Digital Gold.
So therefore, in a best case scenario, if bitcoin manages to remain the king of the cryptocurrency market until 2140, we could say that 1 bitcoin could be worth $100,000.00 - But by then, i dont think the US$ will be worth anything.
Do you see ordinary people going at their local store and buying their groceries with it?
There are businesses that accept bitcoin just for a little advertisement in the media, but its not that profitable for them.
We will witness a mass adoption this year with the lightning network implementantion.
Instant Payments. Lightning-fast blockchain payments without worrying about block confirmation times. Security is enforced by blockchain smart-contracts without creating a on-blockchain transaction for individual payments. Payment speed measured in milliseconds to seconds.
Scalability. Capable of millions to billions of transactions per second across the network. Capacity blows away legacy payment rails by many orders of magnitude. Attaching payment per action/click is now possible without custodians.
Low Cost. By transacting and settling off-blockchain, the Lightning Network allows for exceptionally low fees, which allows for emerging use cases such as instant micropayments.
Cross Blockchains. Cross-chain atomic swaps can occur off-chain instantly with heterogeneous blockchain consensus rules. So long as the chains can support the same cryptographic hash function, it is possible to make transactions across blockchains without trust in 3rd party custodians.[1]
Lets wait and see how this will affect bitcoins price.
There are businesses that accept bitcoin just for a little advertisement in the media, but its not that profitable for them.
We will witness a mass adoption this year with the lightning network implementantion.
Instant Payments. Lightning-fast blockchain payments without worrying about block confirmation times. Security is enforced by blockchain smart-contracts without creating a on-blockchain transaction for individual payments. Payment speed measured in milliseconds to seconds.
Scalability. Capable of millions to billions of transactions per second across the network. Capacity blows away legacy payment rails by many orders of magnitude. Attaching payment per action/click is now possible without custodians.
Low Cost. By transacting and settling off-blockchain, the Lightning Network allows for exceptionally low fees, which allows for emerging use cases such as instant micropayments.
Cross Blockchains. Cross-chain atomic swaps can occur off-chain instantly with heterogeneous blockchain consensus rules. So long as the chains can support the same cryptographic hash function, it is possible to make transactions across blockchains without trust in 3rd party custodians.[1]
Lets wait and see how this will affect bitcoins price.
Ethereum will be the most secure and most adopted platform.
It combines the two primarily factors that make a good blockchain
- Digital Currency
- Smart Contracts
Ether is the only coin that sustains its value over the huge dips that are happening right now.
Only good things about to happen to Ethereum.
It combines the two primarily factors that make a good blockchain
- Digital Currency
- Smart Contracts
Ether is the only coin that sustains its value over the huge dips that are happening right now.
Only good things about to happen to Ethereum.
New investors coming into the market when its hot.
They have no knowledge about the coin their investing in, they are just looking to make money - The sad thing is that the market is volatile and the veterans are making money from this swings.
People are greedy so although we encourage everyone to invest only a little portion of their investments, they go all in, in hopes of getting millionaires by night.
So as i was saying, the market goes up a little, they pride of their investments to friends - their friends dont want to miss out so they buy in because of FOMO (Fear of missing out) - Then something happens, the veterans are taking some profits and the market percentage goes down (We call this correction).
Its very hard for regular people to understand this phenomenon and they are being fed with news like The Crypto Bubble is popping - What do you do as an individual who invested all his life savings and watch shitty news which influence your emotions? - Thats right, you sell them to minimise the loss.
Do you know who is there to buy you out? - The veterans who sold their coins when the market was hot.
So you are left out of the market with a loss of maybe 20% of your investments and now you are spreading bad words about Crypto and Blockchain, that they are a ponzi scheme and so on - The problem is, people are very easily influenced and they will form a bad opinion of this new technology - Thats not very good.
They have no knowledge about the coin their investing in, they are just looking to make money - The sad thing is that the market is volatile and the veterans are making money from this swings.
People are greedy so although we encourage everyone to invest only a little portion of their investments, they go all in, in hopes of getting millionaires by night.
So as i was saying, the market goes up a little, they pride of their investments to friends - their friends dont want to miss out so they buy in because of FOMO (Fear of missing out) - Then something happens, the veterans are taking some profits and the market percentage goes down (We call this correction).
Its very hard for regular people to understand this phenomenon and they are being fed with news like The Crypto Bubble is popping - What do you do as an individual who invested all his life savings and watch shitty news which influence your emotions? - Thats right, you sell them to minimise the loss.
Do you know who is there to buy you out? - The veterans who sold their coins when the market was hot.
So you are left out of the market with a loss of maybe 20% of your investments and now you are spreading bad words about Crypto and Blockchain, that they are a ponzi scheme and so on - The problem is, people are very easily influenced and they will form a bad opinion of this new technology - Thats not very good.
ICO's are like shares in a company - I think this is the safest way to invest in a project you believe in, because only you have acces to your investment and you can choose to get out whenever someone is willing to buy you out in a cryptocurrency exchange.
I really enjoy the idea of supporting revolutionary technologies, my investments are based on the idea behind a certain project.
Be very careful though because there are a lot of scams out there, be sure to check out the whitepaper, the team and what other people are saying about them.
I really enjoy the idea of supporting revolutionary technologies, my investments are based on the idea behind a certain project.
Be very careful though because there are a lot of scams out there, be sure to check out the whitepaper, the team and what other people are saying about them.
No i'm not, it was just media hype.
CNBC was showing live on TV the exact steps on how to buy ripple from exchanges -
Why would someone buy Ripple? - Lots of people think that if a coin is priced under a dollar, it has potential to reach 10.000$ like Bitcoin did - but they dont take in consideration the total cap and the issued coins.
People just want to make money, they will invest in anything with blockchain on it, unfortunately Ripple does not sustain a blockchain.
South Korea was a big player in this uptrend, they where trading Ripple at a premium price difference of 1$ from other exchanges.
As i said before, even if Ripple will get mass adoption by banks, they will not influence the price, only regular investors will.
CNBC was showing live on TV the exact steps on how to buy ripple from exchanges -
Why would someone buy Ripple? - Lots of people think that if a coin is priced under a dollar, it has potential to reach 10.000$ like Bitcoin did - but they dont take in consideration the total cap and the issued coins.
People just want to make money, they will invest in anything with blockchain on it, unfortunately Ripple does not sustain a blockchain.
South Korea was a big player in this uptrend, they where trading Ripple at a premium price difference of 1$ from other exchanges.
As i said before, even if Ripple will get mass adoption by banks, they will not influence the price, only regular investors will.
Ethereum has very high potential for mass adoption.
If you check the ICO market you will see that 90% percent of the new DApps are build on the Ethereum platform, which means that they need Ether to pay for smart contracts which are deployed in the network.
I believe that Etherium will have a positive uptrend because of its usage.
The team behind it is always looking for updates and repaying the majority of developers who come with brand new ideas - This year they will implement the Raiden Network - Faster transactions.
Large adoption is coming towards Etherium, for the moment i dont think they are ready to support 70.000 transactions per second as VISA does, but new times are coming, new ideas are rising and people start to understand the technology better.
I can see Ether in 2018 reaching 2000 $
If you check the ICO market you will see that 90% percent of the new DApps are build on the Ethereum platform, which means that they need Ether to pay for smart contracts which are deployed in the network.
I believe that Etherium will have a positive uptrend because of its usage.
The team behind it is always looking for updates and repaying the majority of developers who come with brand new ideas - This year they will implement the Raiden Network - Faster transactions.
Large adoption is coming towards Etherium, for the moment i dont think they are ready to support 70.000 transactions per second as VISA does, but new times are coming, new ideas are rising and people start to understand the technology better.
I can see Ether in 2018 reaching 2000 $
Ripple is a decentralised remittance platform - You can transfer fiat currencies, digital currencies, and commodities.
It uses the blockchain data structure and has its own consensus protocol.
In the Ripple Whitepaper you will not find the term block and blockchain - They use the term ledger instead.
There are two kind of nodes in the system:
Gateway nodes - registered financial institutions, exchanges, merchants, and so on - If you want to become a gateway node in the network you need permission to form a trust chain.
Validators - responsible for validating transactions, anyone can become a validator - but other nodes can keep a list of validators that can actually be trusted.
Regular nodes - Regular people.
The funny part is that there is no consensus to find whom to trust, the user takes the risk of trusting a gateway.
Banks are starting to test and adopt this feature, they are using ripple just as a method to transport their money from Bank A to Bank B with lower fees.
Ripple also has signed contracts with banks to buy the coin at very low prices like 0.005 Cents in any point in time until 2020 due to increased volatility in the market.
Which means that banks are buying directly from a centralised entity so they wont lose any money in this process.
The price of ripple in the market is driven only by regular people and investors trying to gain some profits.
Even though if Ripple gets mass adoption for banks, the price will be manipulated only by regular investors.
It uses the blockchain data structure and has its own consensus protocol.
In the Ripple Whitepaper you will not find the term block and blockchain - They use the term ledger instead.
There are two kind of nodes in the system:
Gateway nodes - registered financial institutions, exchanges, merchants, and so on - If you want to become a gateway node in the network you need permission to form a trust chain.
Validators - responsible for validating transactions, anyone can become a validator - but other nodes can keep a list of validators that can actually be trusted.
Regular nodes - Regular people.
The funny part is that there is no consensus to find whom to trust, the user takes the risk of trusting a gateway.
Banks are starting to test and adopt this feature, they are using ripple just as a method to transport their money from Bank A to Bank B with lower fees.
Ripple also has signed contracts with banks to buy the coin at very low prices like 0.005 Cents in any point in time until 2020 due to increased volatility in the market.
Which means that banks are buying directly from a centralised entity so they wont lose any money in this process.
The price of ripple in the market is driven only by regular people and investors trying to gain some profits.
Even though if Ripple gets mass adoption for banks, the price will be manipulated only by regular investors.
Hold
Bitcoin is the most secure cryptocurrency and it can be treated as a digital gold.
You will use bitcoin only to store your wealth and to send large amounts of it.
The bitcoin blockchain is slow for a reason, to resist Sybil attacks.
There will be other coins for day to day transactions.
My guess is that someday there will be a coin just for exchanging other coins at current price.
Imagine you are in a store and you own some BTC, the app on your phone syncronizes with the store owners app and shows you the exact price you have to pay at that particular moment in your current cryptocurrency for what you would like to buy.
We are years away from that, but the future looks good for blockchain adopters.
Bitcoin is the most secure cryptocurrency and it can be treated as a digital gold.
You will use bitcoin only to store your wealth and to send large amounts of it.
The bitcoin blockchain is slow for a reason, to resist Sybil attacks.
There will be other coins for day to day transactions.
My guess is that someday there will be a coin just for exchanging other coins at current price.
Imagine you are in a store and you own some BTC, the app on your phone syncronizes with the store owners app and shows you the exact price you have to pay at that particular moment in your current cryptocurrency for what you would like to buy.
We are years away from that, but the future looks good for blockchain adopters.