Bitcoin Tumbles 10%, Ending Nearly a Month of Stability ...

This will also go for Bitcoin, probably even to a bigger extent..

This is a quote from Egon von Greyerz:
"Forget about what price the metals will reach. Even in today’s money, whatever figure you think of will not be enough. And in hyperinflationary money, the price move will be exponential measured in worthless paper money. So don’t think about the value of gold and silver in dollars or euros. Just remember that gold is the only money that has survived in history. It is therefore the best form of wealth preservation and insurance against a bankrupt financial system…"
You can find a lot of interesting articles he wrote. He is telling about the value of gold and the instable financial situation for more than a decade.
Unfortunately he never talks about Bitcoin and I have never been able to talk about it with him. It's hard to imagine he wouldn't be listening to the Bitcoin proposition if told about it..
I think he's one of the few who is openly talking about the risks of the current financial sysyem without going to the usual conspiracy theories. His company manages the wealth of a lot high wealth individuals.
I think he's definitely correct about the future, but for some reason hasn't got Bitcoin on his radar. Probably because he plays the most safe cards.
But what he tells about gold will also go for Bitcoin, with the big difference that gold is the absolute safe way to play and Bitcoin being the leveraged way. More leverage means more risks compensated by higher possible gains.
HODL... strong..
submitted by Btcyoda to Bitcoin [link] [comments]

245h in my first wipe and I thought I give you a little resume about my thoughts and experiences from a noobs perspective in this game since I just hit $100 mil. stash worth.

First things first: yes, Im a rat. And a proud one that is. Not, because Im afraid of PVP or have gear fear - of course at first - but no. Im quite experienced with that. But it just doesnt make me happy in Tarkov. I played CS for almost 20 years and have over 4000h in Pubg, but the PVP in Tarkov is different. And mostly its things like "$1 mil. loadout but I can still as easily get you with my pp-19 leg meta hiding in a bush", its cheaters, its server instabilities that cost me SO much money, when I had actual loadouts with me, its bugged extracts.....theres so much that ruins true satisfying PVP for me so I became a rat very fast.
In the beginning (first 100h or so?) I only did one thing (since I didnt know what to do, how to play, how this game works and I watched a lot of Sequisha beforehand): marked runs. I rather fast accumulated around $30 mil, because I didnt go out with actual gear because of gear fear and the movement and PVP is, tbh, rather clunky. It takes some time to get in there. But around then I actually killed someone who had a headset and I looted him outside dorms and heard someone coming from SO FAR AWAY and something in me clicked and I understood how important the little details are. I killed both and extracted with so much shit, I was so pumped. And I was in. From that point on I took actual gear with me and since then survived every marked run (where before I only like....2/3/5 out of 10 runs or so because of scavs I couldnt kill with my hatchet, Reshala or other PMCs) and bumped my extraction rate from ~5% to 15%. I had a LOT to catch up on tho. I had done hundreds of runs.
Well....then my gameplay was followed by a time of geared runs and doing missions. Went from level 15 to 40 in like....2 weeks or so (~80h). Snacked the thicc cases from the missions and made a lot of money PVPing and looting.
But then....server troubles, cheaters, a lot of disappointing experiences, and I just noticed how sad and mad it would make me if I go in with actual gear and lost it to some stupid shit. I cant remember how many times I sat at RUAF and it wouldnt let me out or get killed by extract campers or or or....excuses maybe, yes.
But then also the "tagged and cursed" mechanic was introduced and (as I already expressed here) I was immediately a big fan. Its so much fun. They changed some things I think....it doesnt feel anymore like it did before but its still fun. And as I found out how to play this, my runs got so much more fun. And looting brings you so much more money in this game than PVPing. I had several, many many runs worth $1 mil. only in safe loot and keys. I really enjoying it like this.
And to quote Pestily here: Who thinks stash value, your level or your gear or whatever is important in this game is stupid. This game is not competitive. This game is only about one thing and one thing only: YOUR FUN. And nobody can tell you how to play this game or how it is supposed to be played. This game is supposed to be played that it gives you fun. Nothing else.
I liked this statement. And yes, my fun in this game was not playing the market, not PVPing, not doing questing, it was getting the moneyz in. And so i quickly increased my stash worth from like ~35 mil to 100 mil in just 2 weeks or so (btw my Hideout is maxed out, I have 35 GPUS in my Bitcoin farm, I have cases and weapons in my stash, Im not JUST a money rat collecting for the numbers). Its crazy how easy it is to make money looting the right things. Not even playing the flea.
So.....yeah. I dont know.....it felt good but Im not sure if I will continue playing every following wipe until the full release. Because I dont want to get numbed liked so many others. I want the game to still bring me joy. So I might stop playing it that much from now on, play every time new content comes or big new patches and wait for the full story release I think. Because on the journey I met so many people telling me they got bored so they started stupid shit just to make it entertaining for them again...I dont want to get there just now.
Quick map summary:
Factory: yikes. I dont know why everyone loves this map. Basically no loot, only PVP but not even geared, or so geared you have no chance, extract camper galore....not a fan honestly. Maybe I just still havend found the
Shoreline: yes, I like but dont play that often on my own. I find it quite resort focused and not much going on in the rest of the map. Also it needs a boss for sure.
Interchange: I hate. Doing the 3M mission was just the worst experience in this game so far. I play on a graphics calibrated monitor and I cant see shit on that map inside, even when its light outside. So I have to use Nvidia Filters to see anything inside and still get clapped by the fucking chaddest players in this game. Its just not fun for me. And I probably make even more money on Customs than the average player here.
Labs: Not played at all. For obvious reasons at the moment. I havent learnt it yet, quests dont bring you there, and I couldnt even learn it from watching streamers play it. Very confusing map to me. Maybe later.
Woods: Hahahahaha. Hahaha. Ha. Hahahaha. I dont have to say anything right?
Reserve: Havent played at all. Quests didnt bring me there. I didnt know it was so new. I dont like the setting. I dont like the extract restrictions. I havent found a red rebel yet (sure I know I could just buy it but wheres the fun in that), I dont like the dripping sweat in this map and also Im scared of raiders.
Customs: Bae <3
Thanks for listening. Cheers
https://preview.redd.it/pb8o9mzbuvl41.png?width=1920&format=png&auto=webp&s=c71f77b170d7a0ec8968eab7f12011b2a1b57a01
submitted by nighteeeeey to EscapefromTarkov [link] [comments]

During the coronavirus, are cryptocurrencies suffering or taking advantage of the moment?

During the coronavirus, are cryptocurrencies suffering or taking advantage of the moment?
Up until just a short time ago cryptocurrencies were considered to be a sort of safe haven. This idea has gained greater strength in the measure in which, during recent periods of crisis and instability, the Bitcoin has risen in value; however, now, with the pandemic of the coronavirus hitting the entire planet, the freefall of the cryptocurrency quotes most used these days shows an uncertain scenario and demystified the option of “safe haven”.
https://preview.redd.it/yspkat1aan151.jpg?width=1280&format=pjpg&auto=webp&s=e692f86d3141a021fce448812f3a3815b886ccb5
Halfway through February, before the before the pandemic became widespread, Bitcoin’s quote reached over 10,200 dollars, its highest quote during the last seven months; but, from that moment on the decline has been resounding – around 40% - so that its present value is in the region of 6,300 dollars. In its fall, Bitcoin dragged other cryptocurrencies along with it, like Ethereum which lost 29% as went from 194 dollars to 137, and Ripple, which ceded 22%.

What provoked the decline in prices?

Cryptocurrencies operate contrary to the traditional financial system, because they don’t need banks; however, this doesn’t make them immune to the economic chaos unleashed by the pandemic.
In China’s case, the country where the virus arose, the analysts waited for the launch of the digital yuan; however, the Wuhan crisis will postpone the presentation of the new cryptoasset between three and six months, since, according to YuanJie Zhang, the director of operations of Conflux, “The majority of the budget’s resources were spent in containing the virus”.
For Zhang, the coronavirus hasn’t had a negative impact on the cryptocurrency mining industry in China, because the majority of these farms continued working and never hired a lot of people.
Nevertheless, the fall in prices was evident. What could have provoked it? This continues to be a subject that divides the experts, since more than a few feel that there are no clear elements that explain the downward trend, because cryptocurrencies aren’t affected by the prices of petroleum and or the global recession.
According to various experts, the decline was expected because Bitcoin, for example, saw its price rise 100% during the last six months and many investors opted to sell them now to cover the losses that they suffered in their portfolios from other assets with variable yield.
Others look for a link to the pandemic and analyze that the collapse in prices was produced at the moment when the bonds and shares fell around the world. The investors suffered so many losses that they had to liquidate assets that, at this time, have enough value to cover their obligations.
“Investors are liquidating alternative assets like gold and cryptocurrencies to comply with obligations of the market and to create cash reserves, a theme that is similar to what happened during the last financial crisis,” stated Matthew Dibb, co-founder and director of Stack operations.
A variation is that the retail investors have sold their cryptoassets so that this way they can obtain money that will allow them to obtain more food, medical supplies and take on other monthly expenses, since extended quarantines impede them from working and, therefore, generate income.

Blockchain initiatives against the coronavirus

The donations in cryptocurrencies to support the most affected areas with medical supplies or to encourage research about the coronavirus have increased in recent times.
The Binance exchange donated 1.4 million dollars to the Chinese authorities for medical supplies. The project was called “Binance for Wuhan”. In addition, Binance Charity continues to be wrapped up in raising five million dollars in cryptocurrencies that make it possible to buy essential medical articles for the countries most affected by the coronavirus.
The crowdfunding platform The Giving Block launched a campaign for donating cryptoassets, in coordination with Gitcoin, an open code reward platform in the Ethereum blockchain.
The decentralized Alliance of AI presented the #COVIDathon, considered the first hackathon designed to help the medical industry to search for solutions that allow them to battle the COVID-19. This alliance depends on more than 50 members of the blockchain.com space, Ocean Protocol, Aragon, Shivom and SingularityNet.
Ripple Labs donated 200,000 dollars to two non-profit organizations, Tipping Point Community and Silicon Valley Community Foundation, to contain the propagation of COVID-19 in the United States.
The Napoli Blockchain Association undertook a crypto fund raiser that made the purchase of a large amount of appliance equipment possible for strengthening medical attention in Italy.
cryptos, coronavirus, coronavirus-and-bitcoin, coronavirus-and-cryptos
submitted by CryptosRegister to u/CryptosRegister [link] [comments]

Do you think bitcoin with a fixed supply is a good or a bad thing?

i just mention bitcoin but many payment tokens have chosen on a fixed supply. I think it's a bad economic model for the health of the network over time.
i've never seen an economic argument from Satoshi on the reason for a fixed supply.
If the quote exists, i guess the choice was on a fixed supply to act as a currency more on the austrian school of thought e.g. a digital goal standard.
the problem with this is that gold gets used, lost or destroyed, we also find it in the sufrace of the earth. Or we may mine it from an asteroids in future.
i think keeping a fixed block reward of say 25 btc, would help in a few ways.
Vitalik has a few good articles on the economics of this subject
Evaluate alternative transaction fee market mechanisms https://github.com/zcash/zcash/issues/3473
Instability of blockchains with no block reward: in the long run, blockchains where there is no issuance (including Bitcoin and Zcash) at present intend to switch to rewarding miners entirely through transaction fees. However, there are known results showing that this likely leads to a lot of instability, incentivizing mining "sister blocks" that steal transaction fees, opening up much stronger selfish mining attack vectors, and more. There is at present no good mitigation for this.
more on the economics here
On Inflation, Transaction Fees and Cryptocurrency Monetary Policy
https://blog.ethereum.org/2016/07/27/inflation-transaction-fees-cryptocurrency-monetary-policy/
edit: the 25 btc as a fixed block reward is just an example, its a bit high for inflation
submitted by Neophyte- to CryptoTechnology [link] [comments]

PortBitX.COM White Paper

White Paper


We are a free society united by the basic idea of ​​freedom and justice, separated from geographical, religious, ethnic and gender prejudices, we reaffirm this document, and we promise to protect freedom and benefit people always and everywhere.

PortBitX Project

The PORTBITX project team creates a service whose main idea is to provide a mobile and convenient system where users and cryptocurrency owners can receive a wide range of services.

1 The essence of the project

The project team asks you to support the creation of a high-tech, simple, convenient and honest ecosystem for people who need to protect their rights and freedoms and use the right to be anonymous and financially independent.
The mission of the project is to create a service for storing and exchanging cryptocurrency assets, and also to become a tool allowing to conduct trading operations regardless of geographic location or language skills.
Advantages of the project:

2 State of affairs

Owing to ignorance or low awareness of people about the nature of cryptocurrency assets, cryptoindustry is mythologized in modern society. This applies to both ordinary people and officials in authority.
As a rule, in the minds of people there is more confidence in traditional financial instruments than in technology during their development, for example blockchain (the inability to change the information block / blockchain chain).History knows many examples when the governments of different countries, guided by the interests of their citizens, inadvertently led to the decline of advanced civil initiatives. This time is a period of complex formation of crypto-economics and state relations, which is still in the making.
The project that we present to your attention has no borders between countries and peoples. And we, a group of enthusiasts, would very much like to cooperate with large government organizations. But, to our deep regret, the states currently at the stage of formation of their cryptocurrency policies make mistakes that negatively affect the crypto community.
The market of cryptocurrency assets, which has a ten-year history of development, is very sensitive to various statements by officials. However, unqualified criticism cannot withstand the global trend. And no one can stop the future.
With all the desire, time does not stand still, technologies themselves continue to evolve, new technologies, new projects, new views that can be upgraded in the distant future, as well as processes of government and regulation themselves, to introduce innovative elements into them. We do not expect the distant future, and many tools are available now. And we have something to offer you.
This is especially relevant against the backdrop of the upcoming global financial crisis, with the inevitable decline in trust in state financial institutions; cryptocurrency have high chances of becoming more popular in the absence of other technological alternatives.
As we noted earlier, there is a lack of awareness among people about Blockchain technology and cryptocurrencies. These technologies are extremely undervalued, since there is much more benefit in them than one can imagine.
In the cryptocurrency assets industry itself, there are fraudsters at this time who are trying to steal or fraudulently get your money.
At the same time, there are many honest crypto projects that can not be realized due to stereotypes of perception of them as fraudulent. Objectively, they could be judged by their work and projects that have been successfully implemented. In principle, it is necessary to be cautious in terms of investing in any projects, even if they are guaranteed by reputable people or companies. No reputable person or company can match the level of guarantee and security of your assets, as in the Bitcoin blockchain.In any case, the decision to invest is yours, not imposed by restrictions, and the responsibility lies with you.
According to Road Map, we intend to fulfill all the terms of the agreement with our participants.
We do not promise you a high yield of our tokens, we put all our experience into the overall welfare of the project and each user. There will be no delisting on the service until the community votes for the opposite.
Our risk is collective. We urge you to make an adequate and balanced choice, instead of imposing any other opinion on you. We are not supporters of aggressive marketing.
There are many cryptocurrency assets and it’s difficult for a regular user to store and exchange them, as well as use them in everyday life.

3 Disadvantages:

These are problems that affect users and cryptocurrency in general.

4 Solution

The PORTBITX project guarantees compliance with all of its obligations and user rights.
We integrate community communications into our PORTBITX service.
Users are offered the following functions:

5 Competitors

Direct market competitors are all decentralized and centralized services related to the purchase or sale of cryptoactive assets, as well as services that provide storage services on a cold or hot crypto wallet.
More than 16 thousand services and more than 2 thousand types of cryptocurrency assets.
We have the opportunity to offer our clients a reliable and open service for the storage and exchange of cryptocurrency assets.
The main competitors are such large cryptocurrency exchanges like Binance, Bitfinix, Bitrix, etc. These multibillion-dollar projects that can affect the entire market and regulate pricing also have millions of crypto communities.
This position is deserved by their work. There are, of course, disadvantages associated with the opacity of their activities, unlike us, but in general they play an important role in the cryptoindustry. Their trading volumes are impressive and inspiring, their mistakes lead to sharp price fluctuations in the crypto market.
There are still crypto exchange. In comparison with the leaders, they are significantly inferior in the volume and number of users. These exchanges include the bulk of all crypto exchanges on the market.
There are also exchange services on the market that allow you to exchange fiat money for cryptocurrency assets. Most often the commission is quite expensive. For example, they can range from 1% to 20%. Such a high commission can be explained by the fact that the locations where buyers and sellers are located have government restrictions or are prohibited.
In addition to all of the above, there are closed groups in social networks or instant messengers. There, people discuss and agree on the price and method of payment. Commissions are often not high from 0% to 5%, but one should not hope that such operations can be safe, since personal meetings are always accompanied by a risk to life or health.
Exchange transactions in the onion network may have no guarantees at all that the transaction will be successful. In deep web, everything works on credibility / reputation, and the higher the seller’s rating, the higher the likelihood of a successful outcome of the transaction. In the same place, you can sell tagged or stolen cryptocurrency assets. For this, there are special mixing sites to hide the criminal trail. These types of exchange operations are the most unreliable.
For this reason, one of the safest types of exchange operations is large centralized cryptocurrency exchanges. Such centralized services, sometimes using their position, impose their own rules, which leads to a loss of users’ material values.
PORTBITX is designed to empower cryptographic protection for maximum convenience and simplicity, as well as to protect the funds and personal data of users.
PORTBITX connects all cryptocurrency assets into one transport hub and creates highly efficient curvilinear isolation of the currency to make cryptocurrency as safe and close to people as possible.

6 Segment

A registered user of the PORTBITX portal can be any person supporting the general idea of ​​a free society. Our users are anonymous and financially independent, with the right to vote and the right to receive common incomes obtained by the operation of the portal and the activity of the crypto community PORTBITX.
For whom we create a service:
It can be ordinary housewives, entrepreneurs, unemployed, self-employed, freelancers, people who invest in the future, wealthy investors, etc.
One of the advantages of the service is anonymity, which gives anyone the right to save and earn around the world online, without fear that tomorrow they will be forced to pay some strange fees or licenses.
Service users are interested in the distribution and real use of cryptocurrency.
Self-regulating community PORTBITX, respecting the rights of all project participants.
Service users are:
For trust in the trade service there will be a seller rating for all types of goods and services presented. There will be a book of reviews about each seller, where each buyer has the right to leave a review about the product or service. This scheme is actively used in Darknet. The basic principle: the more positive reviews, the more trust. Each seller values ​​his authority and thus provides the best possible product or service. The expression “customer is always right,” works because no one wants to lose their customers.Currently, according to blockchain.com, there are used 34 million people who hold their funds in Bitcoin. The remaining number of users is difficult to calculate, but according to our modest calculations, there are at least 2 times more other users in any other currency.
This suggests that there is still a great demand on the market for services of safe storage and exchange of cryptocurrency assets.

7 Bounty

Bounty is a reward of users for PR-activity: subscriptions on forums, maintenance of topics in local language versions, translation of documents into a local language, publications in social networks, blogs and so on.
The terms of the bounty are published in the user profile of the section Terms and conditions of the bounty campaign.
To participate in the bounty campaign, bounty hunter, you need to register on the site PORTBITX.
You agree to the terms and conditions of the Bounty campaign if you register and do Bounty Hunt.
Tasks and their description are listed in the special section “Bounty Hunt”.
Each task is individual and has its own characteristics, so bounty hunters are invited to carefully study the conditions of each task.
Rewards are described in each task separately. The results of remuneration depend on the correct execution of the task.The remuneration is charged to the user’s personal account in the personal account.
There is also a payment history for completed tasks.
After the last fundraising stage, all information will be deleted in favor of the anonymity of users. We will also delete information about site visits and personal information that was required to specify to receive a reward. In the case of a request by third parties for data, we did not have information that could harm bounty hunters.
The bounty budget is 14,325,893 PORTBITX.
The distribution of tokens in stages is as follows:
Stage 1 – 6,325,000 PORTBITX;
Stage 2 – 4 000 000 PORTBITX;
Stage 3 – 4 000 893 PORTBITX.
Distribution of PORTBITX tokens:
If the ICO is not successful, the invested funds will be returned to investors, and the reward for bounty hunters will be canceled.
For this reason, we regulate and monitor the social activity of the bounty hunters so that the conduct of all ICO stages is successful.
For bounty campaigns, an application to the technical department is provided in order to correct them immediately in case of errors, as well as to assist the bounty hunters in carrying out their tasks.
We are building a healthy community, so we ask that the personal opinion and evaluation of the project PORTBITX of each participant be objective and adequate.
Each participant in the campaign bounty is our representative, and for us it is important to have a clear understanding of the face of responsibility and benefit that the community carries out.

8 Market

On the market there are many companies involved in the exchange and storage of cryptocurrency assets.
The number of such services is more than 16,000 and this is not the limit, but it is precisely in the face of fierce competition that truly unique and competitive projects are born.
This market situation motivates us to create a truly useful and necessary service in order to make the range of our service available to a wide range of people.
Recently, according to Google Trends, interest in cryptocurrency has fallen significantly. Now interest has rolled back to the area of ​​2016-17.
Cryptocurrency industry continues to function and develop. Now on the blockchain, you can create your own e-government, your own elections and currency, everything is limited only by the imagination of all industry participants.
The ecosystem is actively developing for the use of cryptocurrency in trading operations. Governments and regulators in different countries are seeking greater transparency in the cryptocurrency industry.
Some, such as the Japanese government, license and regulate crypto exchange and services. In Japan, cryptocurrency has long been accepted as a means of payment in many outlets. In states with despotic regimes and an unstable economy, one of the few tools for the preservation and enhancement of assets is Bitcoin, for this reason in these countries the rate can differ greatly from the average market rate.
The financial crisis and the instability of markets around the world continues to cause fear among people. In some countries want to ban circulation of dollars. Gold cannot be bought in the usual way and owners may experience some difficulties in working with it. Gold has long ceased to be a means of payment.
The priority for us is the safe storage of cryptocurrency assets, maximum user convenience and integration, the popularization of the cryptoindustry in everyday life.
In order for cryptocurrency assets to be used and an integral part of human activity, we want to form a stable market. At the moment, the capitalization of the entire market for a number of years fluctuates in the range of $ 100– $ 300 billion. The range of exchange operations ranges from $ 13-16 billion per day. The number of cryptocurrency assets represented on the markets is more than 2000 types.
The dominance of the main cryptocurrency Bitcoin is in the range of 49-52% of the entire market.
The tendency to reduce the main quotes scares potential investors, but this is not a reason for surrendering positions to a multi-million dollar audience of crypto enthusiasts. The reason why people continue to create new projects and new systems for exchange and transactional systems is the benefits they bring to humanity. In the market, as well as around the world, there are many unscrupulous developers who need to fight.
We are engaged in creating and securing the credibility of the cryptoindustry so that the user can choose a reliable service or network, and not imposed by anyone. This is one of the fundamental aspects of a free community. The right of choice for the user, “the client is always right” is an integral part of the philosophy of the PORTBITX project. By the level of their responsibility, transparency, advanced thought, innovation, in the future, the work of PORTBITX will judge all cryptomir. The better we, PORTBITX work for the good of society, the more trust we have and the more users use the PORTBITX service.
PORTBITX is part of a new culture, part of an ecosystem where the core value is reputation based on trust. This is a project where reputation is more important than money, and utility and service to people is more important than ostentatious hospitality and external gloss, and the safety of the assets of our project participants is more important than our profit indicators.
Capitalization is growing steadily from year to year.
At the beginning of 2017, the capacity of the crypto market was around $ 19 billion. Now capitalization has grown to $ 200 billion. The growth is colossal, but the market is still young and there will be many more challenges on the way to which all market participants will have to respond. And our participants will be the most prepared.
The number of new blockchains and new projects is growing, and the number of participants in the crypto market is also growing. As a result, the attitude of people to the cryptoindustry is changing for the better, just like the cryptoindustry itself.
In 2017, the known cryptocurrency assets were less than 800 species, but now their number has grown. Now on the market represented more than 2,000 species.
Not all assets are honest, there are those whose purpose is to obtain short-term profits, which badly affects the reputation and trust in the cryptoindustry. But, if we recall the story of the beginning of our amazing world, then the price for one Bitcoin was $ 0.00000003. Since then, the situation in the cryptoindustry has changed dramatically.In the future, the cryptoindustry market is waiting for great popularity and that is why reliable and honest services for the storage and exchange of cryptocurrency assets like our project will be needed.
Sharp volatility is such because the market is relatively young and has not reached even a tenth of its potential and capitalization. Therefore, the time in which we live is just a starting point. The world has already passed the Rubicon and there is a long and interesting road ahead.
The potential market we can serve in the future is more than one billion users. Now this market is slightly less than 50 million users.
Experts expect that in the future cryptocurrencies will replace the official fiat money.

9 Product

PORTBITX is a digital portal for storing, exchanging and trading cryptocurrency assets, as well as a platform for selling goods and services for cryptocurrency.
The service is managed by the community by voting. Voting topics are offered through a special application in the voting section.
Service has three main areas.
Secure storage of cryptocurrency.
Secure storage of over 1500 different cryptoactive assets. Safety is ensured by safe cold the repository.
The service itself is not directly connected to the repository to prevent the penetration of potentially dangerous programs. The security of user data in the service itself is protected by a local block chain. The entire database and operations are recorded on the principle of a distributed registry. Hacking one server should do this with hundreds of others located in different places. Mining in this block chain is not performed because all the costs of maintaining such security are borne by the service itself.
The PORTBITX development team is fully responsible for the security of cryptocurrency assets and for the operation of the service. One of the most vulnerable links in the safety chain is the human factor (concerns not only users, but also developers). For this reason, it is necessary to double-check scenarios, conduct stress testing and carefully select personnel.
Exchange
This is a portal for exchanging all available cryptocurrency assets for any other. The number of assets available on the portal will be recorded in the blockchain for a reliable display of the volume, the number of wallets, users and information on all the operations performed since the launch of the main network will also be indicated in the blockchain.
Any cryptocurrency asset can be exchanged for any other if it is in demand. The market decides for itself how and in what to trade. All exchange orders will be visible in online charts. Potentially, we will add more than 2,500,000 pairs to the portal, but not immediately, but in parts and as each cryptocurrency asset is checked. Also the choice for coins or tokens will always be behind the PORTBITX community. After each vote, all results will be published in the section “Voting” and on the official website of the service.
The portal has a convenient interface and an open registry, i.e. users will be able to monitor and control the network with developers. Also, with certain voting results, there may be additions to the network.In the future, we want to release the service in free navigation and stop controlling the network. If we succeed, we will open source code and create jobs for miners.
Marketplace
Marketplace is valid for the sale of services and products for cryptocurrency. High-quality and convenient service. All transactions on the Marketplace are recorded in the main register of the local blockchain. A wide range of products available advertising products and services, two types of payment (with a guarantee and with a reputation) to choose from.
The following portal functionality:
Voting / referendum
An important component of the PORTBITX portal is voting / referendum.
A variety of topics and surveys can be submitted to a vote, directly related to the PORTBITX community and the portal itself. For example, changes in tariff rates, adding new tokens, adding new services and additions to the service.
The right to vote is the right to decide the fate of the community, the right to find the best solution to the problems, the right to be free, honest and fair.
One voice is 5000 PORTBITX. (this limit can be lowered if the community decides on a general vote).
Since tokens can be sold on third-party services, they cannot automatically take part in voting. Also, all available tokens on the portal should be frozen for a period of voting that lasts no more than 24 hours, starting at 00:00 Central European Time.
Tokens are frozen through the user’s personal account in the voting section.Persons who do not have enough tokens for voting, but having the right to profit PORTBITX have the opportunity to see the voting results, as well as to make their proposals for the next vote.
Persons who do not have enough tokens for the right to vote and the right to profit will have the opportunity to group together for collective voting.
Results and coverage of all voting results will be immediately published after the end on the portal’s main page.
A vote is considered legitimate if a quorum gains 65% of the total number of votes. The decision on the outcome of the vote can be made if the number of those who agreed to 100% of those who participated in the vote is 60%. Voting can be repeated if uncrowded by a majority. In this case, the proposal will be revised. The deadline for a deferred vote may pass unplanned within two weeks after the end of the first vote. If, in the second ballot, the majority of votes will also not reach the bulk of 60%, then this issue will be postponed or canceled and will not be considered within the next 6 months.
The right to vote is not just an opportunity to influence the portal, it is the will of the community that developers must obey.
The right to profit
The right to profit is obtained by freezing tokens through the user’s personal account for a period of at least one month. The number of tokens needed to make a profit of at least 1000 PORTBITX.
The calculation of the distribution of profits are as follows.
All profits from all services provided by the service for a certain period of time in the tokens in which the activity was performed are distributed in relation to all community members who have frozen the tokens directly on the service portal. The profit is distributed in the same currencies in which it was received on the service.
In the event that the frozen asset of the PORTBITX tokens is defrosted ahead of time, then the profit it receives during this period will be distributed among the other participants whose tokens remain frozen.
Participation in the project is proved by deed and rewarded, in all fairness.
All profits, namely the estimated profits of users during and at the end of the period can be tracked and seen in the registry on the main page accessible to all interested parties.
PORTBITX developers do not hide revenues and honestly share them with the community.
Each user has the opportunity to check the registry and find their own account.Maximum openness and transparency is the key to trust and success of the service.

10 Road Map

11 Economy and Demand

All information on the movement of funds and their spending will be published on the official website of the company in a special reporting form.
All actions performed by PORTBITX will be covered in the news section of the company’s website.The voting results and the timing of their holding, as well as the topics discussed for voting will be in the user’s personal account in the “voting” section.To date, only about 80 million people have a cryptocurrency, store it or use it in payments.
Now there’s practically no way to find a person who hasn’t heard about bitcoin or blockchain at least once. The cause of mistrust is people who undermine the true face and good intentions of the founding pioneers of the cryptoindustry.
The market is too small and hypervolatil, but this trend will continue only for some time, until the total market capitalization reaches 1 trillion. USD This milestone will further open the way to even more people who want to be part of the crypto world. A larger number of participants will make this market more stable and less prone to hypervolatility.Unfortunately, there are many scammers and individuals who undermine the basis of the industry, and its usefulness. Therefore, the PORTBITX development team creates a service safe for the safety of users’ funds.
According to statistics provided by Blockchain.com from March 2018 to February 2019, the number of new users who registered new cryptocurrency wallets increased from 23 million to 33 million. Based on the data obtained, it can be concluded that there is a need for reliable storage of their cryptocurrency assets.
The year 2019 is a preparatory platform for an even larger number of users, so we decided to create a portal for the ecosystem of the cryptocurrency industry.

12 Project Team

One of the important factors in the decision making for an investor is the transparency and fame of the team that works on the project. An investor can check team members, evaluate and decide on investments. The knowledge and experience of the team is a kind of guarantee that the project will be implemented, but as is often the case in real life, this may be far from reality.
In the cryptoindustry, nothing can be 100% sure. Any ICO defaults to scam.
If you have doubts about our decency, we suggest investing a small amount.
By collecting the minimum amount, we will demonstrate in practice that we are credible, because our goal is to benefit the community.
Founders of PORTBITX
Co-founder and Technical Director Steve Man
Co-founder and CEO of CharleySJ
Director of Marketing and Public Relations MAD Phoenix
Director of Methodology and Legal Support at PenA

13 Investments

The minimum capitalization of the project at the first stage is 1,450 ETH.
The minimum total capitalization of the project will be 56,000 ETH.
The maximum capitalization of the project can reach more than 160,450 ETH.
Tokens will be issued in the amount of 143,258,928.57142.
Share will be up to 8 decimal places. ICO is calculated in three stages.
We create a product that meets modern requirements and market challenges. Additional issue is not provided. After the last stage of the ICO, all assets not sold will be destroyed.
We initially limit the emission of tokens in order to avoid a large amount of excess asset. Being part of the PORTBITX community means having the privilege of voting and profit of the service. And that means – to understand the idea and share the philosophy of the cryptoindustry and with full responsibility to approach the decisions that will affect the community.
The opportunity to receive a bonus will be among the participants of the Bounty campaign and among ICO investors, but by decision of the crypto community.
Return of investment will be carried out in several ways.
By obtaining distributed service profit
Due to the possibility of selling a token at the market price, which can be ten times higher than the initial cost.
The token will be based on the ERC20.
The predicted price of a token at the end of an ICO can be about $ 3.7.
The projected service revenue for the first year may be more than $ 500 million.
Pricing can be changed if there is an ETH price manipulation before release.
The news about the name and the release of tokens will be announced in the official news, so you should not give in to manipulation.

14 ICO Features

Jurisdiction: Blockchain
The number of tokens is 143 million.
On ICO 80.225 million
On a bounty campaign of 14.3 million
The developers and founders of 34.382 million, and the maintenance of the service 14.3 million.
Distribution will be carried out automatically.
The following fundraising is provided:
Stage 1 – 1,450 ETH
Stage 2 – 10,000 ETH
Stage 3 – 149,000 ETH
Pricing and limits
1st stage ICO
1 PBX = 0.002 ETH
1 ETH / 0.002 = 500 PBX
5 ETH / 0.0015 = 3 333.33333333 PBX
10 ETH / 0.001 = 10,000 PBX
Rules of the first stage:
The minimum amount to raise funds 1,450
Price is limited to pricing policy.
Bounty company 6 million
Refund in case of not reaching the minimum amount to raise funds
2nd stage ICO
1 PBX / 0.003 ETH
1 ETH / 0.003 = 333.33333333 PBX
5 ETH / 0.0025 = 2,000 PBX
10 ETH / 0.002 = 5,000 PBX
3rd stage ICO
1 PBX / 0.004 ETH
0.5 ETH / 0.004 = 125 PBX
1 ETH / 0.0035 = 285.71428571 PBX
5 ETH / 0.003 = 1 666.66666666 PBX
10 ETH / 0.0025 = 4,000 PBX

15 Legal aspects

Placement of the company – Blockchain. This is due to the fact that we approach the project with full responsibility and are aware of the consequences of our actions, as well as due to pressure from some states and their unfriendly policy to the cryptoindustry.
Also, the service will not be present fiatnye currency, as their existence is not combined with the philosophy of our company. We will temporarily not specify the location of the company, as well as disclose the names of developers for the safety of their rights to life, health and freedom.
Since we consider ourselves a free community, some data for the sake of security for the sake of this freedom will be hidden from outsiders.
We guarantee a refund in case of unsuccessful first stage at 100% minus the miners commission.
This is important because the tools incorporated in the first stage are necessary for creating the kernel and the subsequent imposition of software modules.
We considered options for direct investment in the project from private investors, but since these investors could influence our strategy and policies, and since they could take some of the functions from the community, we decided to invest in our project as a community by Ico.
The risk of investing in our project, of course, is great, but we want to build a really useful service for the industry as a whole and for each user of the service separately. Therefore, we enable the community to judge us by our work.
submitted by Portbitx to u/Portbitx [link] [comments]

The Real Story Of The Repo Market Meltdown, And What It Means For Bitcoin

This is the best tl;dr I could make, original reduced by 87%. (I'm a bot)
The event doesn't mean another financial meltdown is necessarily imminent-just that the risk of one is heightened-since the brush fire can be doused either by the Fed, or by the banks raising more equity capital.
US Treasuries are the core asset used by every financial institution to satisfy its capital and liquidity requirements-which means that no one really knows how big the hole is at a system-wide level.
Specifically, the Fed's focus on the fed funds market is misplaced because the real action is in the much bigger, much more global repo market; the Fed shouldn't have allowed America's big banks to pay dividends or buy back stock when they're so capital-constrained that they can't even pick up an 8% "Risk-free" arbitrage; the Fed's proclamation that "The financial system remains resilient," when it released the results of the most recent bank stress tests.
At a systemic level, the traditional financial system is as fragile as Bitcoin is anti-fragile.
In stark contrast to the traditional financial system, Bitcoin is not a debt-based system that periodically experiences bank run-like instability.
In this regard, Bitcoin is an insurance policy against financial market instability.
Summary Source | FAQ | Feedback | Top keywords: financial#1 bank#2 system#3 market#4 Fed#5
Post found in /Bitcoin and /Economics.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

White Paper

We are a free society united by the basic idea of ​​freedom and justice, separated from geographical, religious, ethnic and gender prejudices, we reaffirm this document, and we promise to protect freedom and benefit people always and everywhere.

PortBitX Project

The PORTBITX project team creates a service whose main idea is to provide a mobile and convenient system where users and cryptocurrency owners can receive a wide range of services.

1 The essence of the project

The project team asks you to support the creation of a high-tech, simple, convenient and honest ecosystem for people who need to protect their rights and freedoms and use the right to be anonymous and financially independent. The mission of the project is to create a service for storing and exchanging cryptocurrency assets, and also to become a tool allowing to conduct trading operations regardless of geographic location or language skills.
Advantages of the project:

2 State of affairs

Owing to ignorance or low awareness of people about the nature of cryptocurrency assets, cryptoindustry is mythologized in modern society. This applies to both ordinary people and officials in authority.
As a rule, in the minds of people there is more confidence in traditional financial instruments than in technology during their development, for example blockchain (the inability to change the information block / blockchain chain). History knows many examples when the governments of different countries, guided by the interests of their citizens, inadvertently led to the decline of advanced civil initiatives. This time is a period of complex formation of crypto-economics and state relations, which is still in the making.
The project that we present to your attention has no borders between countries and peoples. And we, a group of enthusiasts, would very much like to cooperate with large government organizations. But, to our deep regret, the states currently at the stage of formation of their cryptocurrency policies make mistakes that negatively affect the crypto community.
The market of cryptocurrency assets, which has a ten-year history of development, is very sensitive to various statements by officials. However, unqualified criticism cannot withstand the global trend. And no one can stop the future.
With all the desire, time does not stand still, technologies themselves continue to evolve, new technologies, new projects, new views that can be upgraded in the distant future, as well as processes of government and regulation themselves, to introduce innovative elements into them. We do not expect the distant future, and many tools are available now. And we have something to offer you.
This is especially relevant against the backdrop of the upcoming global financial crisis, with the inevitable decline in trust in state financial institutions; cryptocurrency have high chances of becoming more popular in the absence of other technological alternatives. As we noted earlier, there is a lack of awareness among people about Blockchain technology and cryptocurrencies. These technologies are extremely undervalued, since there is much more benefit in them than one can imagine. In the cryptocurrency assets industry itself, there are fraudsters at this time who are trying to steal or fraudulently get your money.
At the same time, there are many honest crypto projects that can not be realized due to stereotypes of perception of them as fraudulent. Objectively, they could be judged by their work and projects that have been successfully implemented. In principle, it is necessary to be cautious in terms of investing in any projects, even if they are guaranteed by reputable people or companies. No reputable person or company can match the level of guarantee and security of your assets, as in the Bitcoin blockchain. In any case, the decision to invest is yours, not imposed by restrictions, and the responsibility lies with you.
According to Road Map, we intend to fulfill all the terms of the agreement with our participants. We do not promise you a high yield of our tokens, we put all our experience into the overall welfare of the project and each user. There will be no delisting on the service until the community votes for the opposite. Our risk is collective. We urge you to make an adequate and balanced choice, instead of imposing any other opinion on you. We are not supporters of aggressive marketing. There are many cryptocurrency assets and it’s difficult for a regular user to store and exchange them, as well as use them in everyday life.

3 Disadvantages:

These are problems that affect users and cryptocurrency in general.

4 Solution

The PORTBITX project guarantees compliance with all of its obligations and user rights.
We integrate community communications into our PORTBITX service.
Users are offered the following functions:

5 Competitors

Direct market competitors are all decentralized and centralized services related to the purchase or sale of cryptoactive assets, as well as services that provide storage services on a cold or hot crypto wallet. More than 16 thousand services and more than 2 thousand types of cryptocurrency assets. We have the opportunity to offer our clients a reliable and open service for the storage and exchange of cryptocurrency assets.
The main competitors are such large cryptocurrency exchanges like Binance, Bitfinix, Bitrix, etc. These multibillion-dollar projects that can affect the entire market and regulate pricing also have millions of crypto communities. This position is deserved by their work. There are, of course, disadvantages associated with the opacity of their activities, unlike us, but in general they play an important role in the cryptoindustry. Their trading volumes are impressive and inspiring, their mistakes lead to sharp price fluctuations in the crypto market.
There are still crypto exchange. In comparison with the leaders, they are significantly inferior in the volume and number of users. These exchanges include the bulk of all crypto exchanges on the market. There are also exchange services on the market that allow you to exchange fiat money for cryptocurrency assets. Most often the commission is quite expensive. For example, they can range from 1% to 20%. Such a high commission can be explained by the fact that the locations where buyers and sellers are located have government restrictions or are prohibited.
In addition to all of the above, there are closed groups in social networks or instant messengers. There, people discuss and agree on the price and method of payment. Commissions are often not high from 0% to 5%, but one should not hope that such operations can be safe, since personal meetings are always accompanied by a risk to life or health. Exchange transactions in the onion network may have no guarantees at all that the transaction will be successful. In deep web, everything works on credibility / reputation, and the higher the seller’s rating, the higher the likelihood of a successful outcome of the transaction. In the same place, you can sell tagged or stolen cryptocurrency assets. For this, there are special mixing sites to hide the criminal trail. These types of exchange operations are the most unreliable.
For this reason, one of the safest types of exchange operations is large centralized cryptocurrency exchanges. Such centralized services, sometimes using their position, impose their own rules, which leads to a loss of users’ material values. PORTBITX is designed to empower cryptographic protection for maximum convenience and simplicity, as well as to protect the funds and personal data of users. PORTBITX connects all cryptocurrency assets into one transport hub and creates highly efficient curvilinear isolation of the currency to make cryptocurrency as safe and close to people as possible.

6 Segment

A registered user of the PORTBITX portal can be any person supporting the general idea of ​​a free society. Our users are anonymous and financially independent, with the right to vote and the right to receive common incomes obtained by the operation of the portal and the activity of the crypto community PORTBITX. For whom we create a service:
It can be ordinary housewives, entrepreneurs, unemployed, self-employed, freelancers, people who invest in the future, wealthy investors, etc. One of the advantages of the service is anonymity, which gives anyone the right to save and earn around the world online, without fear that tomorrow they will be forced to pay some strange fees or licenses. Service users are interested in the distribution and real use of cryptocurrency. Self-regulating community PORTBITX, respecting the rights of all project participants.
Service users are:
For trust in the trade service there will be a seller rating for all types of goods and services presented. There will be a book of reviews about each seller, where each buyer has the right to leave a review about the product or service. This scheme is actively used in Darknet. The basic principle: the more positive reviews, the more trust. Each seller values ​​his authority and thus provides the best possible product or service. The expression “customer is always right,” works because no one wants to lose their customers. Currently, according to blockchain.com, there are used 34 million people who hold their funds in Bitcoin. The remaining number of users is difficult to calculate, but according to our modest calculations, there are at least 2 times more other users in any other currency. This suggests that there is still a great demand on the market for services of safe storage and exchange of cryptocurrency assets.

7 Bounty

Bounty is a reward of users for PR-activity: subscriptions on forums, maintenance of topics in local language versions, translation of documents into a local language, publications in social networks, blogs and so on. The terms of the bounty are published in the user profile of the section Terms and conditions of the bounty campaign. To participate in the bounty campaign, bounty hunter, you need to register on the site PORTBITX.
You agree to the terms and conditions of the Bounty campaign if you register and do Bounty Hunt. Tasks and their description are listed in the special section “Bounty Hunt”.
Each task is individual and has its own characteristics, so bounty hunters are invited to carefully study the conditions of each task. Rewards are described in each task separately. The results of remuneration depend on the correct execution of the task. The remuneration is charged to the user’s personal account in the personal account.
There is also a payment history for completed tasks.
After the last fundraising stage, all information will be deleted in favor of the anonymity of users. We will also delete information about site visits and personal information that was required to specify to receive a reward. In the case of a request by third parties for data, we did not have information that could harm bounty hunters.
The bounty budget is 14,325,893 PORTBITX. The distribution of tokens in stages is as follows:
Stage 1 – 6,325,000 PORTBITX; Stage 2 – 4 000 000 PORTBITX; Stage 3 – 4 000 893 PORTBITX.
Distribution of PORTBITX tokens:
If the ICO is not successful, the invested funds will be returned to investors, and the reward for bounty hunters will be canceled.
For this reason, we regulate and monitor the social activity of the bounty hunters so that the conduct of all ICO stages is successful. For bounty campaigns, an application to the technical department is provided in order to correct them immediately in case of errors, as well as to assist the bounty hunters in carrying out their tasks.
We are building a healthy community, so we ask that the personal opinion and evaluation of the project PORTBITX of each participant be objective and adequate. Each participant in the campaign bounty is our representative, and for us it is important to have a clear understanding of the face of responsibility and benefit that the community carries out.

8 Market

On the market there are many companies involved in the exchange and storage of cryptocurrency assets. The number of such services is more than 16,000 and this is not the limit, but it is precisely in the face of fierce competition that truly unique and competitive projects are born.
This market situation motivates us to create a truly useful and necessary service in order to make the range of our service available to a wide range of people. Recently, according to Google Trends, interest in cryptocurrency has fallen significantly. Now interest has rolled back to the area of ​​2016-17.
Cryptocurrency industry continues to function and develop. Now on the blockchain, you can create your own e-government, your own elections and currency, everything is limited only by the imagination of all industry participants.
The ecosystem is actively developing for the use of cryptocurrency in trading operations. Governments and regulators in different countries are seeking greater transparency in the cryptocurrency industry.
Some, such as the Japanese government, license and regulate crypto exchange and services. In Japan, cryptocurrency has long been accepted as a means of payment in many outlets. In states with despotic regimes and an unstable economy, one of the few tools for the preservation and enhancement of assets is Bitcoin, for this reason in these countries the rate can differ greatly from the average market rate.
The financial crisis and the instability of markets around the world continues to cause fear among people. In some countries want to ban circulation of dollars. Gold cannot be bought in the usual way and owners may experience some difficulties in working with it. Gold has long ceased to be a means of payment.
The priority for us is the safe storage of cryptocurrency assets, maximum user convenience and integration, the popularization of the cryptoindustry in everyday life.
In order for cryptocurrency assets to be used and an integral part of human activity, we want to form a stable market. At the moment, the capitalization of the entire market for a number of years fluctuates in the range of $ 100– $ 300 billion. The range of exchange operations ranges from $ 13-16 billion per day. The number of cryptocurrency assets represented on the markets is more than 2000 types.
The dominance of the main cryptocurrency Bitcoin is in the range of 49-52% of the entire market.
The tendency to reduce the main quotes scares potential investors, but this is not a reason for surrendering positions to a multi-million dollar audience of crypto enthusiasts. The reason why people continue to create new projects and new systems for exchange and transactional systems is the benefits they bring to humanity. In the market, as well as around the world, there are many unscrupulous developers who need to fight.
We are engaged in creating and securing the credibility of the cryptoindustry so that the user can choose a reliable service or network, and not imposed by anyone. This is one of the fundamental aspects of a free community. The right of choice for the user, “the client is always right” is an integral part of the philosophy of the PORTBITX project. By the level of their responsibility, transparency, advanced thought, innovation, in the future, the work of PORTBITX will judge all cryptomir. The better we, PORTBITX work for the good of society, the more trust we have and the more users use the PORTBITX service.
PORTBITX is part of a new culture, part of an ecosystem where the core value is reputation based on trust. This is a project where reputation is more important than money, and utility and service to people is more important than ostentatious hospitality and external gloss, and the safety of the assets of our project participants is more important than our profit indicators.
Capitalization is growing steadily from year to year.
At the beginning of 2017, the capacity of the crypto market was around $ 19 billion. Now capitalization has grown to $ 200 billion. The growth is colossal, but the market is still young and there will be many more challenges on the way to which all market participants will have to respond. And our participants will be the most prepared.
The number of new blockchains and new projects is growing, and the number of participants in the crypto market is also growing. As a result, the attitude of people to the cryptoindustry is changing for the better, just like the cryptoindustry itself. In 2017, the known cryptocurrency assets were less than 800 species, but now their number has grown. Now on the market represented more than 2,000 species.
Not all assets are honest, there are those whose purpose is to obtain short-term profits, which badly affects the reputation and trust in the cryptoindustry. But, if we recall the story of the beginning of our amazing world, then the price for one Bitcoin was $ 0.00000003. Since then, the situation in the cryptoindustry has changed dramatically. In the future, the cryptoindustry market is waiting for great popularity and that is why reliable and honest services for the storage and exchange of cryptocurrency assets like our project will be needed.
Sharp volatility is such because the market is relatively young and has not reached even a tenth of its potential and capitalization. Therefore, the time in which we live is just a starting point. The world has already passed the Rubicon and there is a long and interesting road ahead. The potential market we can serve in the future is more than one billion users. Now this market is slightly less than 50 million users. Experts expect that in the future cryptocurrencies will replace the official fiat money.

9 Product

PORTBITX is a digital portal for storing, exchanging and trading cryptocurrency assets, as well as a platform for selling goods and services for cryptocurrency. The service is managed by the community by voting. Voting topics are offered through a special application in the voting section.
Service has three main areas.
Secure storage of cryptocurrency.
Secure storage of over 1500 different cryptoactive assets. Safety is ensured by safe cold the repository. The service itself is not directly connected to the repository to prevent the penetration of potentially dangerous programs. The security of user data in the service itself is protected by a local block chain. The entire database and operations are recorded on the principle of a distributed registry. Hacking one server should do this with hundreds of others located in different places. Mining in this block chain is not performed because all the costs of maintaining such security are borne by the service itself. The PORTBITX development team is fully responsible for the security of cryptocurrency assets and for the operation of the service. One of the most vulnerable links in the safety chain is the human factor (concerns not only users, but also developers). For this reason, it is necessary to double-check scenarios, conduct stress testing and carefully select personnel.
Exchange
This is a portal for exchanging all available cryptocurrency assets for any other. The number of assets available on the portal will be recorded in the blockchain for a reliable display of the volume, the number of wallets, users and information on all the operations performed since the launch of the main network will also be indicated in the blockchain.
Any cryptocurrency asset can be exchanged for any other if it is in demand. The market decides for itself how and in what to trade. All exchange orders will be visible in online charts. Potentially, we will add more than 2,500,000 pairs to the portal, but not immediately, but in parts and as each cryptocurrency asset is checked. Also the choice for coins or tokens will always be behind the PORTBITX community. After each vote, all results will be published in the section “Voting” and on the official website of the service.
The portal has a convenient interface and an open registry, i.e. users will be able to monitor and control the network with developers. Also, with certain voting results, there may be additions to the network. In the future, we want to release the service in free navigation and stop controlling the network. If we succeed, we will open source code and create jobs for miners.
Marketplace
Marketplace is valid for the sale of services and products for cryptocurrency. High-quality and convenient service. All transactions on the Marketplace are recorded in the main register of the local blockchain. A wide range of products available advertising products and services, two types of payment (with a guarantee and with a reputation) to choose from.
The following portal functionality:
Voting / referendum
An important component of the PORTBITX portal is voting / referendum. A variety of topics and surveys can be submitted to a vote, directly related to the PORTBITX community and the portal itself. For example, changes in tariff rates, adding new tokens, adding new services and additions to the service. The right to vote is the right to decide the fate of the community, the right to find the best solution to the problems, the right to be free, honest and fair. One voice is 5000 PORTBITX. (this limit can be lowered if the community decides on a general vote).
Since tokens can be sold on third-party services, they cannot automatically take part in voting. Also, all available tokens on the portal should be frozen for a period of voting that lasts no more than 24 hours, starting at 00:00 Central European Time. Tokens are frozen through the user’s personal account in the voting section. Persons who do not have enough tokens for voting, but having the right to profit PORTBITX have the opportunity to see the voting results, as well as to make their proposals for the next vote. Persons who do not have enough tokens for the right to vote and the right to profit will have the opportunity to group together for collective voting. Results and coverage of all voting results will be immediately published after the end on the portal’s main page.
A vote is considered legitimate if a quorum gains 65% of the total number of votes. The decision on the outcome of the vote can be made if the number of those who agreed to 100% of those who participated in the vote is 60%. Voting can be repeated if uncrowded by a majority. In this case, the proposal will be revised. The deadline for a deferred vote may pass unplanned within two weeks after the end of the first vote. If, in the second ballot, the majority of votes will also not reach the bulk of 60%, then this issue will be postponed or canceled and will not be considered within the next 6 months. The right to vote is not just an opportunity to influence the portal, it is the will of the community that developers must obey.
The right to profit
The right to profit is obtained by freezing tokens through the user’s personal account for a period of at least one month. The number of tokens needed to make a profit of at least 1000 PORTBITX. The calculation of the distribution of profits are as follows. All profits from all services provided by the service for a certain period of time in the tokens in which the activity was performed are distributed in relation to all community members who have frozen the tokens directly on the service portal. The profit is distributed in the same currencies in which it was received on the service.
In the event that the frozen asset of the PORTBITX tokens is defrosted ahead of time, then the profit it receives during this period will be distributed among the other participants whose tokens remain frozen. Participation in the project is proved by deed and rewarded, in all fairness. All profits, namely the estimated profits of users during and at the end of the period can be tracked and seen in the registry on the main page accessible to all interested parties. PORTBITX developers do not hide revenues and honestly share them with the community. Each user has the opportunity to check the registry and find their own account. Maximum openness and transparency is the key to trust and success of the service.

10 Road Map

11 Economy and Demand

All information on the movement of funds and their spending will be published on the official website of the company in a special reporting form. All actions performed by PORTBITX will be covered in the news section of the company’s website. The voting results and the timing of their holding, as well as the topics discussed for voting will be in the user’s personal account in the “voting” section. To date, only about 80 million people have a cryptocurrency, store it or use it in payments. Now there’s practically no way to find a person who hasn’t heard about bitcoin or blockchain at least once. The cause of mistrust is people who undermine the true face and good intentions of the founding pioneers of the cryptoindustry.
The market is too small and hypervolatil, but this trend will continue only for some time, until the total market capitalization reaches 1 trillion. USD This milestone will further open the way to even more people who want to be part of the crypto world. A larger number of participants will make this market more stable and less prone to hypervolatility. Unfortunately, there are many scammers and individuals who undermine the basis of the industry, and its usefulness. Therefore, the PORTBITX development team creates a service safe for the safety of users’ funds. According to statistics provided by Blockchain.com from March 2018 to February 2019, the number of new users who registered new cryptocurrency wallets increased from 23 million to 33 million. Based on the data obtained, it can be concluded that there is a need for reliable storage of their cryptocurrency assets. The year 2019 is a preparatory platform for an even larger number of users, so we decided to create a portal for the ecosystem of the cryptocurrency industry.

12 Project Team

One of the important factors in the decision making for an investor is the transparency and fame of the team that works on the project. An investor can check team members, evaluate and decide on investments. The knowledge and experience of the team is a kind of guarantee that the project will be implemented, but as is often the case in real life, this may be far from reality. In the cryptoindustry, nothing can be 100% sure. Any ICO defaults to scam. If you have doubts about our decency, we suggest investing a small amount. By collecting the minimum amount, we will demonstrate in practice that we are credible, because our goal is to benefit the community. Founders of PORTBITX Co-founder and Technical Director Steve Man Co-founder and CEO of CharleySJ Director of Marketing and Public Relations MAD Phoenix Director of Methodology and Legal Support at PenA

13 Investments

The minimum capitalization of the project at the first stage is 1,450 ETH. The minimum total capitalization of the project will be 56,000 ETH. The maximum capitalization of the project can reach more than 160,450 ETH. Tokens will be issued in the amount of 143,258,928.57142. Share will be up to 8 decimal places. ICO is calculated in three stages. We create a product that meets modern requirements and market challenges. Additional issue is not provided. After the last stage of the ICO, all assets not sold will be destroyed.
We initially limit the emission of tokens in order to avoid a large amount of excess asset. Being part of the PORTBITX community means having the privilege of voting and profit of the service. And that means – to understand the idea and share the philosophy of the cryptoindustry and with full responsibility to approach the decisions that will affect the community. The opportunity to receive a bonus will be among the participants of the Bounty campaign and among ICO investors, but by decision of the crypto community. Return of investment will be carried out in several ways. By obtaining distributed service profit Due to the possibility of selling a token at the market price, which can be ten times higher than the initial cost. The token will be based on the ERC20. The predicted price of a token at the end of an ICO can be about $ 3.7. The projected service revenue for the first year may be more than $ 500 million. Pricing can be changed if there is an ETH price manipulation before release. The news about the name and the release of tokens will be announced in the official news, so you should not give in to manipulation.

14 ICO Features

Jurisdiction: Blockchain The number of tokens is 143 million. On ICO 80.225 million On a bounty campaign of 14.3 million The developers and founders of 34.382 million, and the maintenance of the service 14.3 million. Distribution will be carried out automatically. The following fundraising is provided: Stage 1 – 1,450 ETH Stage 2 – 10,000 ETH Stage 3 – 149,000 ETH Pricing and limits 1st stage ICO 1 PBX = 0.002 ETH 1 ETH / 0.002 = 500 PBX 5 ETH / 0.0015 = 3 333.33333333 PBX 10 ETH / 0.001 = 10,000 PBX Rules of the first stage: The minimum amount to raise funds 1,450 Price is limited to pricing policy. Bounty company 6 million Refund in case of not reaching the minimum amount to raise funds 2nd stage ICO 1 PBX / 0.003 ETH 1 ETH / 0.003 = 333.33333333 PBX 5 ETH / 0.0025 = 2,000 PBX 10 ETH / 0.002 = 5,000 PBX 3rd stage ICO 1 PBX / 0.004 ETH 0.5 ETH / 0.004 = 125 PBX 1 ETH / 0.0035 = 285.71428571 PBX 5 ETH / 0.003 = 1 666.66666666 PBX 10 ETH / 0.0025 = 4,000 PBX

15 Legal aspects

Placement of the company – Blockchain. This is due to the fact that we approach the project with full responsibility and are aware of the consequences of our actions, as well as due to pressure from some states and their unfriendly policy to the cryptoindustry. Also, the service will not be present fiatnye currency, as their existence is not combined with the philosophy of our company. We will temporarily not specify the location of the company, as well as disclose the names of developers for the safety of their rights to life, health and freedom. Since we consider ourselves a free community, some data for the sake of security for the sake of this freedom will be hidden from outsiders. We guarantee a refund in case of unsuccessful first stage at 100% minus the miners commission. This is important because the tools incorporated in the first stage are necessary for creating the kernel and the subsequent imposition of software modules. We considered options for direct investment in the project from private investors, but since these investors could influence our strategy and policies, and since they could take some of the functions from the community, we decided to invest in our project as a community by Ico. The risk of investing in our project, of course, is great, but we want to build a really useful service for the industry as a whole and for each user of the service separately. Therefore, we enable the community to judge us by our work.
submitted by Portbitx to Portbitx [link] [comments]

Fed's Bullard sees cryptocurrencies shifting U.S. financial system

This is the best tl;dr I could make, original reduced by 13%. (I'm a bot)
NEW YORK - Cryptocurrencies are changing the U.S. currency system in ways that may facilitate illegal activity and instability in prices, St. Louis Federal Reserve President James Bullard said on Friday.
"The current situation could be described as a drift toward a non-uniform currency in the U.S.," Bullard said in a presentation prepared for delivery at an academic conference.
"One suspects that consumers and businesses will not like a non-uniform currency in which many types of currency trade simultaneously at a variety of prices in a local market."
While it is possible for multiple currencies to exist simultaneously and lead to more voluntary transactions, "In the real world, some of these now-enabled transactions may be illegal or quasi-legal," he said.
Bullard's comments come as regulators are struggling with how to address a wave of newly created digital "Currencies" being used to raise funds for businesses, among a host of other uses.
Fed Chairman Jerome Powell said earlier this month that plans by Facebook Inc to build a digital currency called Libra "Cannot go forward" until serious concerns are addressed, comments that pressured the project and dented the price of the original cryptocurrency bitcoin.
Summary Source | FAQ | Feedback | Top keywords: currency#1 Bullard#2 price#3 cryptocurrency#4 digital#5
Post found in /worldnews.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Rapidly Changing The Cost Of Bitcoin Production Would Destroy Bitcoin’s Utility As A Gold And As A Good Money

https://medium.com/@rextar4444/rapidly-changing-the-cost-of-bitcoin-production-would-destroy-bitcoins-utility-as-a-gold-and-as-a-81b1fc838151
Both sides of the entire divided bitcoin community will agree that money that is stable in value is preferable to a money that is not stable in value. Good money needs to be a store of value, a unit of account, and to be relied on as a stable metric for long term contracts ON TOP of being a medium of exchange.
Consider this quote by Satoshi:
The price of any commodity tends to gravitate toward the production cost.
We could see in light of this statement the price of bitcoin will tend to gravitate towards an unstable product cost causing instability in bitcoin’s price. Unstable mediums of exchange or commodities are not favorable as good money.
Consider this quote from Ideal Money:
It is a coincidental fact that the inherent nature of mining and mining technology makes it possible for the prices of certain commodities that are produced as a result of the devotion of labor and capital to the effort of mining to increase less (or decrease more) than might be expected. There is a “dimension paradox”: Agricultural products are produced by using the two-dimensional resource of the earth surface, so the “disappearing frontier” creates a limitation. In contrast, some mining, particularly for elemental metals, can essentially be done in three dimensions, although, of course, there are increasing costs for deep digging.
Nash points out the relationship between production and the underlying cost of production in relation to gold. Gold is not necessarily scare but there are increased costs for digging deeper which puts a natural and relatively predictable throttle on its supply (but this could change!).
If these mining costs suddenly were changed unpredictably and especially were open to political corruption bitcoin’s value proposition would not be stable and so the markets would reject it as a safe haven for value.
In other words it would no longer function as a digital gold and it would no longer serve as a good money.
submitted by pokertravis to Bitcoin [link] [comments]

HitBTC adds DAI and MKR

HitBTC adds DAI and MKR
Dear traders,
We are glad to announce that Maker’s DAI stablecoin and MKR token are now available for trading on HitBTC. Dai has been opened as HitBTC’s quote currency in pairs against Bitcoin (BTC/DAI), Ethereum (ETH/DAI), Tether (USDT/DAI), Maker (MKDAI) and EOS (EOS/DAI) while Maker’s MKR will be traded as a regular token.
https://preview.redd.it/eazinzk5dc811.png?width=1308&format=png&auto=webp&s=7ded7b6a109ff44c444d69b0108550227ec4fc0a
Adding Dai, Maker’s first stablecoin on the Ethereum blockchain, as a quote currency on HitBTC will help to diversify risks and enhance trading experience on the exchange.
Launched in December 2017, Dai is backed by a group of investors led by Andreessen Horowitz, and has gained a reputation as a significant contribution to mass adoption of the blockchain technology. The Maker team works actively both on developing the product and creating ways for the stablecoin to be accessible to the customers worldwide via strategic partnerships.
According to Maker’s website and whitepaper, Dai can be generated by anyone on the platform through Maker smart contracts (known as CDPs, or the Collateralized Debt Positions) currently using ETH as a collateral. Active CDPs are always collateralized in excess, meaning that the value of the collateral is higher than the value of the debt.
Maker uses various price stability mechanisms to retrieve price feeds and balance the price to avoid deviations in case of market instability, including Global settlement, a crucial mechanic that allows the Maker Platform to survive in case of serious attacks or a “black swan” event.
Holders of Maker’s MKR utility and governance tokens serve as the executive part of the governance ecosystem and form DAO, the Decentralized Autonomous Organisation.
For more information on Maker DAO, Dai and MKR please visit https://makerdao.com/
submitted by hitbtc to hitbtc [link] [comments]

Bi-Weekly Rational Feed

===Highly Recommended Articles:
Superintelligence Risk Project Update II by Jeff Kaufman - Jeff's thoughts and the sources he found most useful. Project is wrapping up in a few day. Topics: Technical Distance to AI. Most plausible scenarios of Superintelligence risk. OpenPhil's notes on how progress was potentially stalled in Cryonics and Nanotech.
Superintelligence Risk Project Update by Jeff Kaufman - Links to the three most informative readings on AI risk. Details on the large number of people Jeff has talked to. Three fundamental points of view on AI-Safety. Three Fundamental points of disagreement. An update on the original questions Jeff was trying to answer.
Podcast The World Needs Ai Researchers Heres How To Become One by 80,000 Hours - "OpenAI’s latest plans and research progress. Concrete Papers in AI Safety, which outlines five specific ways machine learning algorithms can act in dangerous ways their designers don’t intend - something OpenAI has to work to avoid. How listeners can best go about pursuing a career in machine learning and AI development themselves."
Radical Book Club The Decentralized Left by davidzhines (Status 451) - The nature of leftwing organizing and what righties can learn from it. An exposition of multiple books on radical left organization building. Major themes are "doing the work" and "decentralized leadership".
Study Of The Week To Remediate Or Not To Remediate by Freddie deBoer - Should low math proficiency students take remedial algebra or credit bearing statistics. The City University of New York ran an actual randomized study to test this. The study had pretty good controls. For example students were randomly assigned to three groups, participating professors taught one section of each group.
Kenneth Arrow On The Welfare Economics Of Medical Care A Critical Assessment by Artir (Nintil) - "Kenneth Arrow wrote a paper in 1963, Uncertainty and the Welfare Economics of Medical Care. This paper tends to appear in debates regarding whether healthcare can be left to the market (like bread), or if it should feature heavy state involvement. Here I explain what the paper says, and to what extent it is true."
Becoming Stronger Together by b4yes (lesswrong) - "About a year ago, a secret rationalist group was founded. This is a report of what the group did during that year."
The Destruction Of American Cuisine by Small Truths - America used to have a tremendous number of regional cuisines, most are dead. They were killed by supermarkets and frozen food. This has been costly both in terms of culture and health (antibiotic resistance, crop monoculture risk)
===Scott:
Targeting Meritocracy by Scott Alexander - Education and merit are different. Programming is one of the last meritocracies, this lets disadvantaged people get into the field. If a job is high impact we want to hire on merit. The original, literal meaning of meritocracy is important.
Classified Thread 2 Best In Classified by Scott Alexander - Scott is promoting a project to accelerate the trend of rationalists living near each other. There are four houses available for rent near Ward Street in Berkeley. Ward street is currently the rationalist hub in the Bay. Commenters can advertise other projects and services.
Url Of Sandwich by Scott Alexander - Standard links post, somewhat longer than usual.
Opec Thread by Scott Alexander - Bi-weekly open thread. Update on Scott and Katja's travels. Salt Lake City Meetup highlight. Topher Brennan is running for Senate.
Can We Link Perception And Cognition by Scott Alexander - SSC survey optical illusions. "So there seems to be a picture where high rates of perceptual ambiguity are linked to being weirder and (sometimes, in a very weak statistical way) lower-functioning." Speculation about fundamental connections between perception and cognitive style. Ideas for further research.
Change Minds Or Drive Turnout by Scott Alexander - Extreme candidates lower turnout among their own party. Is base turnout really the only thing that matters? Lots of quotes from studies.
===Rationalist:
Learning From Past Experiences by mindlevelup - "This is about finding ways to quickly learn from past experiences to inform future actions. We briefly touch upon different learning models." Model-based and Model-Free reinforcement learning. Practical advice and examples.
How Long Has Civilization Been Going by Elo (BearLamp) - Human agricultural society is only 342-1000 generations old. "Or when you are 24 years old you have lived one day for every year humans have had written records." Human civilization is only a few hundred lifetimes old.
Choices Are Bad by Zvi Moshowitz - Choices reduce perceived value. Choices require time and energy. Making someone choose is imposing a real cost.
Erisology Of Self And Will: The Gulf by Everything Studies - "Part 4 will discuss some scientific disciplines with bearing on the self, and how their results are interpreted differently by the traditional paradigm vs. the scientific."
Philosophy Vs Duck Tests by Robin Hanson - Focusing on deep structure vs adding up weak cues. If it looks like an x... More discussion of whether most people will consider ems people and/or conscious.
Knowing How To Define by AellaGirl - "These are three ways in which a word can be ‘defined’ – the role it plays in the world around it (the up-definition), synonyms (lateral-definition), and the parts which construct the thing (down-definition)." Applications to morality and free-will.
Change Is Bad by Zvi Moshowitz - "Change space, like mind space, is deep and wide. Friendly change space isn’t quite to change space what friendly mind space is to mind space, but before you apply any filters of common sense, it’s remarkably close." A long list of conditions that mean change has lower expected value. Why we still need to make changes. Keep your eyes open.
Meditation Insights Suffering And Pleasure Are Intrinsically Bound Together by Kaj Sotala - The concrete goal of meditation is to train your peripheral awareness. Much suffering comes from false promises of pleasure. Procrastinating to play a videogame won't actually make you feel better. Temptation losses its power once you truly see the temptations for what they truly are.
Be My Neighbor by Katja Grace - Katja lives in a rationalist house on ward street in Berkeley and its great. The next step up is a rationalist neighborhood. Katja is promoting the same four houses as Scott. Be her neighbor?
What Value Subagents by G Gordan (Map and Territory) - Splitting the mind into subagents is a common rationalist model (links to Alicorn, Briene Yudkowsky, etc). However the author preferred model is a single process with inconsistent preferences. Freud. System 1 and System 2. The rider and the Elephant become one. Subagents as masks. Subagents as epicycles.
The Order Of The Soul by Ben Hoffman (Compass Rose) - The philosophy of accepting things vs the impulse to reshape them. Many philosophical and psychological models split the soul into three. Internalized authority vs seeing the deep structure of moral reality. In some sense math is the easiest thing in the world to learn. School poisons the enjoyment of rational thought. Lockhart's lament. Feynman. Eichmann and thinking structurally.
Aliens Merely Sleeping by Tyler Cowen - The universe is currently too hot for artificial life to be productive. Advanced civilizations might be freezing themselves until the universe cools. "They could achieve up to 1030 times more than if done today" [short]
Book Reviews by Torello (lesswrong) - Rationalist Adjacent. Each book has an interesting 'ideas per page' rating. Homo Deus, Sapiens, Super-intelligence, Surfaces and Essences, What Technology Wants, Inside Jokes, A Skeptic's Guide to the Mind.
Geometers Scribes Structure Intelligence by Ben Hoffman (Compass Rose) - "How does spatial reasoning lead to formal, logical reasoning?" Fluid and crystalized intelligence. Some history of Philosophy. How social dynamics lead to the evolution of reasoning. Talmudic and Western law, and their oddities. Universal Grammar and connecting with the divine. FizzBuzz.
High Dimensional Societies by Robin Hanson - In high dimensional space the distance between points varies less. What implications does this have for 'spatial' social science models (ex analogues of 1D spectrums and 2D graphs).
Feelings In The Map by Elo (BearLamp) - Confusion is not a property of the external world. The same holds for many emotions. Non-violent communication and speaking from your own perspective.
Lesswrong Is Not About Forum Software by enye-word (lesswrong) - The best way to increase activity on lesswrong is to get back the top posters, especially Scott and Eliezer.
Explication by mindlevelup - "This essay is about explication, the notion of making things specific. I give some examples involving Next Actions and systematization. This might also just be obvious to many people. Part of it is also a rehash of Act Into Uncertainty. Ultimately, explication is about changing yourself."
Concrete Instructions by Elo (BearLamp) - "The objective test of whether the description is concrete is whether the description can be followed by an anonymous person to produce the same experience." Some examples including the 'paper folding game'.
Human Seems Low Dimensional by Robin Hanson - 'Humanness' seems to be a one dimensional variable. Hence people are likely to consider ems conscious and worthy of decent treatment since ems are human-like on many important factors. Some discussion of a study where people rated how human-like various entities were.
Erisology Of Self And Will: A Natural Offering by Everything Studies - A description of naturalism and it relation to science. Daniel Dennet. Many philosophers are still dualists about the self. The self as a composite. Freedom as emergent.
The Hungry Brain by Bayesian Investor - A short review that focuses on the basics of Guynet's ideas and meta-discussion of why Guynet included so much neuroscience. "Guyenet provides fairly convincing evidence that it’s simple to achieve a healthy weight while feeling full. (E.g. the 20 potatoes a day diet)."
Boost From The Best by Robin Hanson - [Age of Em] How many standard deviations above the mean will be the best em be? How much better will they be than the second best em? How much of a wage/leisure premium will the best em receive.
Becoming Stronger Together by b4yes (lesswrong) - "About a year ago, a secret rationalist group was founded. This is a report of what the group did during that year."
In Praise Of Fake Frameworks by Valentine (lesswrong) - "I use a lot of fake frameworks — that is, ways of seeing the world that are probably or obviously wrong in some important way. I think this is an important skill. There are obvious pitfalls, but I think the advantages are more than worth it. In fact, I think the "pitfalls" can even sometimes be epistemically useful."
Letter To Future Layperson by Sailor Vulcan (BYS) - A letter from someone in our age to someone post singularity. Description of the hardships and terrors of pre-singularity life. Emotional and poetic. ~5K words.
===AI:
Conversation With An Ai Researcher by Jeff Kaufman - The anonymous researcher thinks AI progress is almost entirely driven by hardware and data. Back propagation has existed for a long time. Go would have taken at least 10 more years if go-aI work had remained constrained by academic budgets.
Openai Baselines PPO by Open Ai - "We’re releasing a new class of reinforcement learning algorithms, Proximal Policy Optimization (PPO), which perform comparably or better than state-of-the-art approaches while being much simpler to implement and tune. PPO has become the default reinforcement learning algorithm at OpenAI because of its ease of use and good performance."
Superintelligence Risk Project Update II by Jeff Kaufman - Jeff's thoughts and the sources he found most useful. Project is wrapping up in a few day. Topics: Technical Distance to AI. Most plausible scenarios of Superintelligence risk. OpenPhil's notes on how progress was potentially stalled in Cryonics and Nanotech.
Real Debate Robots Education by Tyler Cowen - Robots are already becoming part of the classroom. K-12 is an artificially creation anyway. Robots can help autistic or disabled children. Children sometimes trust robots too much.
Robust Adversarial Inputs by Open Ai - "We’ve created images that reliably fool neural network classifiers when viewed from varied scales and perspectives. This challenges a claim from last week that self-driving cars would be hard to trick maliciously since they capture images from multiple scales, angles, perspectives, and the like."
What Is Overfitting Exactly by Andrew Gelman - "If your model is correct, “overfitting” is impossible. In its usual form, “overfitting” comes from using too weak of a prior distribution."
Conversation With Bryce Wiedenbeck by Jeff Kaufman - "AGI is possible, it could be a serious problem, but we can't productively work on it now." AGI will look very different from current technologies. Utility functions are a poor model of human behavior.
Examples Of Superintelligence Risk by Jeff Kaufman - A series of extended quotes describing ways AI with innocent seeming goals can destroy the world. Authors: Nick Bostrom, Eliezer (and collaborators), Luke M, 80K hours, Tim Urban. Jeff finds them unpersuasive and asks for better ones. Lots of interesting comments. Eleizer himself comments describing how 'paperclip maximizers' might realistically occur.
Superintelligence Risk Project Update by Jeff Kaufman - Links to the three most informative readings on AI risk. Details on the large number of people Jeff has talked to. Three fundamental points of view on AI-Safety. Three Fundamental points of disagreement. An update on the original questions Jeff was trying to answer.
Conversation With Michael Littman by Jeff Kaufman - CS Professor at Brown's opinions: Deep Learning is surprisingly brittle in his experience. General Intelligence will require large fundamental advances. The AI risk community isn't testing their ideas so they probably aren't making real progress.
===EA:
EAGX Relaunch by Roxanne_Heston (EA forum) - The EA global satellite EAGA-X conferences have been low activity. Changes: More funding and flexibility. Standardized formats. Fewer groups approved. Stipends to primary organizers.
Uncertainty Smoothes Out Differences In Impact by The Foundational Research Institute - Many inside view evaluations conclude that one intervention is orders of magnitude more effective than another. Uncertainty significantly reduces these ratios.
Autonomy: A Search For A Measure Will Pearson (EA forum) - "I shall introduce a relatively formal measure of autonomy, based on the intuition that it is the ability to do things by yourself with what you have. The measure introduced allows you to move from less to more autonomy, without being black and white about it. Then I shall talk about how increasing autonomy fits in with the values of movements such as poverty reduction, ai risk reduction and the reduction of suffering."
Eight media articles on GiveDirectly, Cash Transers and Basic Income.- A world where 8 men own as much wealth as 3.6 billion people by GiveDirectly -
More Giving Vs Doing by Jeff Kaufman - EA is moving far more money than it used to and the ramp up will continue. This means direct work has become relatively more valuable. Nonetheless giving money is still useful, capacity isn't being filled. Jeff plans on earning to give based on his personal constraints.
Why I Think The Foundational Research Institute by Mike Johnson (EA forum) - A description of the FRI. Good things about FRI. FRI's research framework and why the author is worried. Eight long objections. TLDR: "functionalism ("consciousness is the sum-total of the functional properties of our brains") sounds a lot better than it actually turns out to be in practice. In particular, functionalism makes it impossible to define ethics & suffering in a way that can mediate disagreements."
Tranquilism by The Foundational Research Institute - A paper arguing that reducing suffering is more important than promoting happiness. Axiology. Non-consciousness. Common Objections. Conclusion.
An Argument For Why The Future May Be Good by Ben West (EA forum) - Factory farming shows that humans are deeply cruel. Technology enabled this cruelty, perhaps the future will be even darker. Counterargument: Humans are lazy, not evil. Humans as a group will spend at least small amounts altruistically. In the future the cost of reducing suffering will go down low enough that suffering will be rare or non-existent.
Arguments Moral Advocacy by The Foundational Research Institute - "What does moral advocacy look like in practice? Which values should we spread, and how? How effective is moral advocacy compared to other interventions such as directly influencing new technologies? What are the most important arguments for and against focusing on moral advocacy?"
An Argument For Broad And Inclusive by Kaj Sotala (EA forum) - "I argue for a very broad, inclusive EA, based on the premise that the culture of a region is more important than any specific group within that region... As a concrete strategy, I propose a division into low-level and high-level EA"
Not Everybody wants a Goat by GiveDirectly - Eight links on GiveDirectly, Cash Transfers, Effective Altruism and Basic Income.
Mid Year Update by The GiveWell Blog - Encouraging more charities to apply. More research of potential interventions. Short operations recap. GiveWell is focusing more on outreach.
===Politics and Economics:
College Tuition by Tom Bartleby - Sticker prices for college have gone up 15K in twenty years, but the average actual cost has only gone up 2.5K. High prices are almost compensated by high aid. Advantage: more equitable access to education. Disadvantages: Not everyone knows about the aid, financial aid is large enough it can seriously distort family financial decisions.
War Of Wages Part 1 Apples And Walmarts by Jacob Falkovich (Put A Number On It!) - The Author thinks minimum wage hurts the poor. Walmart can't afford higher wages. Copenhagan Interpretation of Ethics: Walmart helps the poor and gets blamed, Apple does nothing for the poor but avoids blame.
Links 10 by Artir (Nintil) - Tons of links. Economics, Psychology, AI, Philosophy, Misc.
Pretend Ask Answer by Ben Hoffman (Compass Rose) - A short dialogue about Patriarchy and the meaning of oppression. Defensive actions are often a response to bad faith from the other side. Its not ok to explicitly say you think your partner is arguing in bad faith.
Cultural Studies Ironically Is Something Of A Colonizer by Freddie deBoer - An origin story for Writing Studies. The fields initial methodological diversity. Cultural studies took over the field, empirical work has been pushed out. Evidence that some cultural studies professors really do believe its fundamentally bigoted to do science and empirical research endangers marginalized students. The field has become insular.
The Dark Arts Examples From The Harris Adams Debate by Stabilizer (lesswrong) - The author accuses Scott Adams of using various dark Arts: Changing the subject, Motte-and-bailey, Euphemisation, Diagnosis, Excusing, Cherry-picking evidence.
Study Of The Week Modest But Real Benefits From Lead Exposure Interventions by Freddie deBoer - Freddie reviews a survey he found via SSC. The study had very good controls. Methodology is explained and key graphs are posted and discussed. Scott and Freddie seem to agree on the facts but have a different opinion on how large to consider the effects.
Descriptive And Prescriptive Standards by Simon Penner (Status 451) - Leadership means winning the Keynesian Beauty Contest. Public opinion doesn't exist as a stable reality. Prescribing public opinion. Dangers of social reform and leaders twisting the facts to promote noble outcomes.
A Taylorism For All Seasons by Lou (sam[]zdat) - "Christopher Lasch – The Culture of Narcissism, part 1/X, current essay being more of an overview." A Masquerade where you must act out the mask you choose.
Mechanism Agnostic Low Plasticity Educational Realism by Freddie deBoer - Freddie's educational philosophy. People sort into persistent academic strata. Educational attainment is heavily determined by factors outside of school's control. The mechanism differences in academic ability is unknown. Social and political implications.
Kin Aesthetics Excommunicate Me From The Church Of Social Justice by Frances Lee - A SJ-insider's critical opinion of SJ. Fear of being impure. Original Sin. Reproducing colonial structures of power and domination within social justice. Everyday Feminism's belittling articles. More humility. Bringing humanity to everyone, even those who have been inhumane.
Study Of The Week To Remediate Or Not To Remediate by Freddie deBoer - Should low math proficiency students take remedial algebra or credit bearing statistics. The City University of New York ran an actual randomized study to test this. The study had pretty good controls. For example students were randomly assigned to three groups, participating professors taught one section of each group.
Should We Build Lots More Housing In San Francisco: Three Reasons People Disagree by Julia Galef - For each of the three reasons Julia describes multiple sub-reasons. More housing might not lower prices much. More housing won't help the poor. NIMBY objections might be legitimate.
Kenneth Arrow On The Welfare Economics Of Medical Care A Critical Assessment by Artir (Nintil) - "Kenneth Arrow wrote a paper in 1963, Uncertainty and the Welfare Economics of Medical Care. This paper tends to appear in debates regarding whether healthcare can be left to the market (like bread), or if it should feature heavy state involvement. Here I explain what the paper says, and to what extent it is true."
Thoughts On Doxxing by Ozy (Thing of Things) - CNN found the identity of the guy who made the video of Trump beating up CNN. They implied they would dox him if he continued being racist. Is doxxing him ok? What about doxxing someone who runs jailbait? Ozy discusses the practical effect of doxxing and unleashing hate mobs.
On The Seattle Minimum Wage Study Part 2 by Zvi Moshowitz - Several relevant links are included. Seattle's economic boom and worker composition changes are important factors. Zvi dives deep into the numbers and tries to resolve an apparent contradiction.
Radical Book Club The Decentralized Left by davidzhines (Status 451) - The nature of leftwing organizing and what righties can learn from it. An exposition of multiple books on radical left organization building. Major themes are "doing the work" and "decentralized leadership".
On The Seattle Minimum Wage Study Part 1 by Zvi Moshowitz - The claimed effect sizes are huge. Zvi's priors about the minimum wage. Detailed description of some of the paper's methods and how it handle potential issues. Discussion of the raw data. More to come in part 2.
===Misc:
Childcare II by Jeff Kaufman - A timeline of childcare for Jeff's two children. Methods: Staying at home, Daycare, Au pair, Nanny.
Easier Chess Problem by protokol2020 - How many pieces do you need to capture a black queen?
Book Review Mathematics For Computer Science by richard_reitz (lesswrong) - Why the text should be in the MIRI research guide. Intro. Prereqs. Detailed comparisons to similar texts. Complaints.
Information is Physical by Scott Aaronson - Is information is physical a contentful expression? Why 'physics is information' is tautological. A proposed definition. Double slit experiment. Observation in Quantum Mechanics. Information takes up a minimum amount of space. Entropy. Information has nowhere to go.
Book Review Working Effectively With Legacy Code By Michael C Feathers by Eli Bendersky - To improve code we must refactor, to refactor we have to test, making code testable may take heroic efforts. "The techniques described by the author are as terrible as the code they're up against."
The Ominouslier Roar Of The Bitcoin Wave by Artem and Venkat (ribbonfarm) - A video visualizing and audiolizing the bitcoin blockchain. A related dialogue.
From Monkey Neurons To The Meta Brain by Hal Morris (ribbonfarm) - Neurons that only fire in response to Jennifer Anniston. Mirror Neurons. Theory of Mind. The path from copying movement to human-level empathy. Infant development. Dreams as social simulator. Communicating with our models of other people. He rapidly accelerating and dangerous future. We need to keep our mind open to possibilities.
Newtonism Question by protokol2020 - Balancing Forces. Gravity problem.
Short Interview Writing by Tyler Cowen - Tyler Cowen's writing habits. Many concrete details such as when he writes and what program he uses. Some more general thoughts on writing such as Tyler's surprising answer to which are his favorite books on writing.
Unexpected by protokol2020 - Discussion of gaps between primes. "Say, that you have just sailed across some recordly wide composite lake and you are on a prime island again. What can you expect, how much wider will the next record lake be?"
Interacting With A Long Running Child Process In Python by Eli Bendersky - Using the subprocess module to run an http server. Solutions and analysis of common use cases. Lots of code.
4d Mate Problem by protokol2020 - How many queens do you need to get a checkmate in 4D chess.
The Destruction Of American Cuisine by Small Truths - America used to have a tremendous number of regional cuisines, most are dead. They were killed by supermarkets and frozen food. This has been costly both in terms of culture and health (antibiotic resistance, crop monoculture risk)
===Podcast:
Sally Satel On Organ Donation by EconTalk - "The challenges of increasing the supply of donated organs for transplantation and ways that public policy might increase the supply." Tax Credits. The ethics of donor compensation.
Podcast The World Needs Ai Researchers Heres How To Become One by 80,000 Hours - "OpenAI’s latest plans and research progress. Concrete Papers in AI Safety, which outlines five specific ways machine learning algorithms can act in dangerous ways their designers don’t intend – something OpenAI has to work to avoid. How listeners can best go about pursuing a career in machine learning and AI development themselves."
88 Must We Accept A Nuclear North Korea by Waking Up with Sam Harris - "Mark Bowden and the problem of a nuclear-armed North Korea."
Triggered by Waking Up with Sam Harris - "Sam Harris and Scott Adams debate the character and competence of President Trump."
Conversation Atul Gawande by Tyler Cowen - The marginal value of health care, AI progress in medicine, fear of genetic engineering, whether the checklist method applies to marriage, FDA regulation, surgical regulation, Michael Crichton and Stevie Wonder, wearables, what makes him weep, Knausgaard and Ferrante, why surgeons leave sponges in patients.
Nneka Jones Tapia by The Ezra Klein Show - The first psychologist to run a prison. 30% of inmates have diagnosed mental health problems. Mental heath view of the penal system, balancing punishment and treatment, responsibility versus mental instability, the tension between what we use jail for and what we should use jail for.
Tamar Haspel by EconTalk - "Why technology helps make some foods inexpensive, how animals are treated, the health of the honey bee, and whether eggs from your backyard taste any better than eggs at the grocery."
From Cells To Cities by Waking Up with Sam Harris - "Biological and social systems scale, the significance of fractals, the prospects of radically extending human life, the concept of “emergence” in complex systems, the importance of cities, the necessity for continuous innovation"
Inside The World Of Supertraining: Mark Bell by Tim Feriss - "Mark’s most important lessons for building strength. How to avoid injury and breakdown. Lesser-known training techniques that nearly everyone overlooks. How Mark became a millionaire by offering his gym memberships for free."
Eddie Izzard by The Ezra Klein Show - 27 marathons in 27 days, process for writing jokes, why he wants to run for parliament, inspiration from Al Franken's, borrowing confidence from his future self. What he learned as a street performer, routines are based on history and anthropology, World War I, 'cake or death?'. His gender identity, and how he integrated it into his act early on, etc.
Martha Nussbaum by EconTalk - "The tension between acquiring power and living a life of virtue. Topics discussed include Hamilton's relationship with Aaron Burr, Burr's complicated historical legacy, and the role of the humanities in our lives."
Rs 188 Robert Kurzban On Being Strategically Wrong by Rationally Speaking - Why Everyone (Else) is a Hypocrite." The "modular mind" hypothesis, and how it explains hypocrisy, self-deception, and other seemingly irrational features of human nature.
submitted by deluks917_ to slatestarcodex [link] [comments]

Better Alternative to BU - Hint: NOT CORE

Bitcoin Unlimited is a good Approach in order to finally solve the blocksize debate but it has some flaws and one alternative namely, "adaptive blocksize limit" hasn't gotten enough attention, at least in my opinion.
Scenario 1
For simplicity let's assume we have 3 groups of miners each group has 33.33% of the total hashing power. Group 1,2,3 each with a limit (1MB, 2MB, 4MB) respectively. In the beginning we have a valid chain (every block below 1MB). Now Group 2 creates a Block with 2MB. Now we have 2 chains, one chain which will be accepted by Group 1,2 and 3 AND one chain which will be accepeted by Group 2 and 3. Let's assume Group 3 finds a 4MB Block. This will result in 3 chains. 1 chain which will be "valid" by Group 1,2,3 , the other one by Group 2,3 and the last one only by Group 3.
BUT since there is also the desire to accept the "longest" chain (the chain with the most computational work done, to be precise) the scenario will actually look like this :Chain 1 will be accepted by Group 1. Chain 2 by Group 2. And you guessed it Chain 3 by Group 3.
Problem 1 - No clear defined CORRECT Chain(no right or wrong)
So for services like wallets, blockchain.info etc. On what of those 3 chains should they act upon on ? There seems to be no right or wrong since there is no real consensus rule there.
According to https://www.bitcoinunlimited.info/faq it states :
The smaller block group "sees" the larger chain but will resist switching to it until additional blocks have been built on top of it. So the smaller block group may always be a few blocks behind and small block miners will produce many orphans.
So this assumes that the smaller block group WILL switch if the other one get's big enough but what if they don't ? Then there will be two separate chains. Or even 3 as in our example.
Counter argument for Problem 1
Today you could also produce two chains. Lets say a group of miners sit together and decide that they wan't another chain which consists of 0.5MB Blocks maximum and that they don't accept any block above that limit. Now they also successfully created another chain.
BUT the big difference here is that everybody knows what the "real" chain is, since the consensus rules are clear. But in the Case of Bitcoin Unlimited where everybody can decide on their own limit, it's not really defined which chain is the correct one.
Scenario 2
The frequently asked questions of https://www.bitcoinunlimited.info/faq states that the blockchains in a BU nodes network will always converge (assuming the smaller block group will switch chain after a certain amount of blocks have been built)
Quote:
The larger block nodes "sees" the smaller chain and will switch to it right away if it takes the lead. The smaller block group "sees" the larger chain but will resist switching to it until additional blocks have been built on top of it. So the smaller block group may always be a few blocks behind and small block miners will produce many orphans. The opposite is true in the case where large block miners are the hash power minority, except that they are always at the head of the most-work chain. This orphan production is feedback mechanism the network uses to the miners to change their behavior. If the two groups have approximately equal hashing power, the situation becomes a random walk due to the fact that block production is a Poisson process. In this case, the mathematics show that one fork will periodically move far enough ahead of the other to trigger a convergence.
So it seems like it makes sense for all miners to accept the new blockchain even if it's above their limits in order to mine on top of the chain and therefore create less orphans. That's the "Accept Block Depth" setting in Bitcoin Unlimited.
Problem 2 - Spam Attack :
This creates a possible spam attack vector. The Accept Block Depth will create a point of No Return, where more than 50% of the Hash Power will be acquired. A malicious mineattacker can use this property in order to create very big blocks. Lets assume he creates lot's of transaction spam e.g ~1GB per Block. No one will accept those blocks at first but if he manages to find as many blocks needed until the point of no return, they will accept it. Let's say the point of no return is 4 Blocks since afaik this is currently the default setting for "Accept Block Depth" in Bitcoin Unlimited. If he manages to mine 4 blocks everybody else will accept the chain. Why ? At first he may only get 51% of the miners to accept it but they will mine on top of this chain and so on until it's a really long chain and everybody will switch.
What is adaptive Blocksize ?
To determine the block size limit, you compute the median block size over some recent sample of blocks and apply a multiple. For example, you might set the limit to 2x the median block size of the last 2016 blocks."
So this means you can say let's see what the block size median was like the last two weeks (to be precise the last 2016 blocks) and adjust the maximum blocksize to be double of it.
So you are always around 50% of the maximum block size enough space to handle peaks but strict enough to handle spam well.
Advantage 1 vs BU - clear defined consensus rule:
There is a clear defined consensus rule which one should be the accepted blockchain.
Advantage 2 vs BU - "transaction speed" :
No waiting for additional confirmations due to block size instability. See https://www.bitcoinunlimited.info/faq :
"If the network is undergoing a period of block size instability, whether that be due to a struggle between two block-size-is-part-of-consensus clients like XT and Core or due to a struggle between miners of similar hash power, it may make sense for users to wait for additional confirmations or convergence to avoid double spends."
Advantage 3 - No additional Spam Attack Vector: :
As i mentioned above Bitcoin Unlimited introduces an additional Spam Attack Vector, which the approach with the adaptive Block size doesn't introduce.
Finally: On one hand i really didn't want to post this since we've gotten already so far with Bitcoin Unlimited and it's finally looking like we could defeat Core and i want this very exhausting debate to end. But on the other hand i want the best solution for Bitcoin and i really think the adaptive Block Size approach is better than the approach that BU goes.
submitted by FutureOfBitcoin to btc [link] [comments]

Bitcoin and Ethereum Fall Substantially in $18 Billion Crypto Market Wipeout

This is the best tl;dr I could make, original reduced by 56%. (I'm a bot)
Over the past 24 hours, the crypto market has recorded a loss of $18 billion, as major cryptocurrencies including Bitcoin, Ether, EOS, and Bitcoin Cash dropped by 4 to 13 percent.
While Bitcoin ended the day with a 4 percent decline in its value, Ether, the native cryptocurrency of Ethereum, plummeted by 13 percent against the US dollar, becoming one of the worst performing major cryptocurrencies alongside NEO.Tokens recorded the steepest drop in their value on August 11, as most Ethereum-based tokens such as Theta Token, Aion, Pundi X, Aelf, DigixDAO, WanChain, and VeChain recorded a drop of around 14 to 18 percent.
Bitcoin Breaks 50% DominanceFor the first time in 2018, Bitcoin, the most dominant cryptocurrency in the global market, has obtained 50 percent of the market share, securing its year-to-date high on the dominance index.
EOS, dubbed the "Ethereum Killer," has dropped 50 percent of its market valuation in the past 30 days, due to the instability and volatility in the market.
In recent months, the volume of BTC and the rest of the crypto market have substantially decreased.
Where Does the Market go Next?Due to the overly strong downtrend of major cryptocurrencies, in order for the cryptocurrency market to engage in a large mid-term bull run, the market would need to bottom out at a lower price range.
Summary Source | FAQ | Feedback | Top keywords: market#1 percent#2 cryptocurrency#3 BTC#4 Bitcoin#5
Post found in /technology.
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submitted by autotldr to autotldr [link] [comments]

Iran Launches Domestic Cryptocurrency Amid Possible Return of U.S. Sanctions

This is the best tl;dr I could make, original reduced by 25%. (I'm a bot)
After banning Bitcoin transactions earlier this month and discussing the creation of a state currency since February, Iran has officially announced that a domestic cryptocurrency blockchain is now ready for testing.
According to Mohammad Javad Azari-Jahromi, Iran's Information and Communications Technology minister made it clear that the Central Bank's ban on Bitcoin "Does not mean the prohibition or restriction on the use of the digital currency in domestic development." The reason behind the ban, says Azari-Jaromi, is that coins like Bitcoin could lead to a lose of profit for local investors.
This concern may have been developed out of Bitcoin's recent instability in the cryptocurrency market over the past several months.
The timing and swiftness of the Bitcoin ban, and the state-run cryptocurrency launch, has a lot to do with impending sanctions from the U.S. It began when the Iranian currency, rial, fell to a record low in the beginning of April after months of worrying that U.S. sanctions would return.
U.S. President Donald Trump has until May 12, 2018 to renew or dissolve the Iranian Nuclear Deal, which if dissolved would put Iran back on the U.S. sanction list.
Although Trump has criticized the deal that implemented a freeze and a U.S. monitoring of nuclear testing in exchange for lifting economic sanctions, he has not made a decision to continue the exact agreement made in 2015.
Summary Source | FAQ | Feedback | Top keywords: Bitcoin#1 sanction#2 U.S.#3 Iran#4 cryptocurrency#5
Post found in /news and /CryptoCurrency.
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Tom Lee Says HODL Bitcoin As Year-end Target Stays at $25,000

This is the best tl;dr I could make, original reduced by 49%. (I'm a bot)
Bitcoin proponent and former chief equity strategist at JPMorgan Chase & Co. Tom Lee, has recently encouraged Bitcoin traders to hold their coins despite its loss of 40% value so far this year.
Lee's experience as a stock analyst has given him heightened insight into the current market slump Bitcoin is experiencing.
Considering the majority of Bitcoin market gains are condensed into a small number of days each year, Lee recommends that holding is the most potentially profitable option.
Despite the recent market instability across a number of cryptocurrencies, Fundstrat still holds the prediction that the value of Bitcoin will cross USD 25,000 by the end of 2018.
Fundstrat analysts included in the same note as Lee said that they expected Bitcoin challenges to subside by the latter part of 2018, including "The clarification of regulatory hurdles".
The predictions from Fundstrat may well encourage many to HODL, the now infamous typo of a frantic trader's appeal to hold on to Bitcoin, that has become the mantra of Bitcoin enthusiasts.
Summary Source | FAQ | Feedback | Top keywords: Bitcoin#1 Lee#2 hold#3 market#4 year#5
Post found in /Bitcoin and /BitcoinAll.
NOTICE: This thread is for discussing the submission topic. Please do not discuss the concept of the autotldr bot here.
submitted by autotldr to autotldr [link] [comments]

Rational Feed

===Highly Recommended Articles:
Superintelligence Risk Project Update II by Jeff Kaufman - Jeff's thoughts and the sources he found most useful. Project is wrapping up in a few day. Topics: Technical Distance to AI. Most plausible scenarios of Superintelligence risk. OpenPhil's notes on how progress was potentially stalled in Cryonics and Nanotech.
Superintelligence Risk Project Update by Jeff Kaufman - Links to the three most informative readings on AI risk. Details on the large number of people Jeff has talked to. Three fundamental points of view on AI-Safety. Three Fundamental points of disagreement. An update on the original questions Jeff was trying to answer.
Podcast The World Needs Ai Researchers Heres How To Become One by 80,000 Hours - "OpenAI’s latest plans and research progress. Concrete Papers in AI Safety, which outlines five specific ways machine learning algorithms can act in dangerous ways their designers don’t intend - something OpenAI has to work to avoid. How listeners can best go about pursuing a career in machine learning and AI development themselves."
Radical Book Club The Decentralized Left by davidzhines (Status 451) - The nature of leftwing organizing and what righties can learn from it. An exposition of multiple books on radical left organization building. Major themes are "doing the work" and "decentralized leadership".
Study Of The Week To Remediate Or Not To Remediate by Freddie deBoer - Should low math proficiency students take remedial algebra or credit bearing statistics. The City University of New York ran an actual randomized study to test this. The study had pretty good controls. For example students were randomly assigned to three groups, participating professors taught one section of each group.
Kenneth Arrow On The Welfare Economics Of Medical Care A Critical Assessment by Artir (Nintil) - "Kenneth Arrow wrote a paper in 1963, Uncertainty and the Welfare Economics of Medical Care. This paper tends to appear in debates regarding whether healthcare can be left to the market (like bread), or if it should feature heavy state involvement. Here I explain what the paper says, and to what extent it is true."
Becoming Stronger Together by b4yes (lesswrong) - "About a year ago, a secret rationalist group was founded. This is a report of what the group did during that year."
The Destruction Of American Cuisine by Small Truths - America used to have a tremendous number of regional cuisines, most are dead. They were killed by supermarkets and frozen food. This has been costly both in terms of culture and health (antibiotic resistance, crop monoculture risk)
===Scott:
Targeting Meritocracy by Scott Alexander - Education and merit are different. Programming is one of the last meritocracies, this lets disadvantaged people get into the field. If a job is high impact we want to hire on merit. The original, literal meaning of meritocracy is important.
Classified Thread 2 Best In Classified by Scott Alexander - Scott is promoting a project to accelerate the trend of rationalists living near each other. There are four houses available for rent near Ward Street in Berkeley. Ward street is currently the rationalist hub in the Bay. Commenters can advertise other projects and services.
Url Of Sandwich by Scott Alexander - Standard links post, somewhat longer than usual.
Opec Thread by Scott Alexander - Bi-weekly open thread. Update on Scott and Katja's travels. Salt Lake City Meetup highlight. Topher Brennan is running for Senate.
Can We Link Perception And Cognition by Scott Alexander - SSC survey optical illusions. "So there seems to be a picture where high rates of perceptual ambiguity are linked to being weirder and (sometimes, in a very weak statistical way) lower-functioning." Speculation about fundamental connections between perception and cognitive style. Ideas for further research.
Change Minds Or Drive Turnout by Scott Alexander - Extreme candidates lower turnout among their own party. Is base turnout really the only thing that matters? Lots of quotes from studies.
===Rationalist:
Learning From Past Experiences by mindlevelup - "This is about finding ways to quickly learn from past experiences to inform future actions. We briefly touch upon different learning models." Model-based and Model-Free reinforcement learning. Practical advice and examples.
How Long Has Civilization Been Going by Elo (BearLamp) - Human agricultural society is only 342-1000 generations old. "Or when you are 24 years old you have lived one day for every year humans have had written records." Human civilization is only a few hundred lifetimes old.
Choices Are Bad by Zvi Moshowitz - Choices reduce perceived value. Choices require time and energy. Making someone choose is imposing a real cost.
Erisology Of Self And Will: The Gulf by Everything Studies - "Part 4 will discuss some scientific disciplines with bearing on the self, and how their results are interpreted differently by the traditional paradigm vs. the scientific."
Philosophy Vs Duck Tests by Robin Hanson - Focusing on deep structure vs adding up weak cues. If it looks like an x... More discussion of whether most people will consider ems people and/or conscious.
Knowing How To Define by AellaGirl - "These are three ways in which a word can be ‘defined’ – the role it plays in the world around it (the up-definition), synonyms (lateral-definition), and the parts which construct the thing (down-definition)." Applications to morality and free-will.
Change Is Bad by Zvi Moshowitz - "Change space, like mind space, is deep and wide. Friendly change space isn’t quite to change space what friendly mind space is to mind space, but before you apply any filters of common sense, it’s remarkably close." A long list of conditions that mean change has lower expected value. Why we still need to make changes. Keep your eyes open.
Meditation Insights Suffering And Pleasure Are Intrinsically Bound Together by Kaj Sotala - The concrete goal of meditation is to train your peripheral awareness. Much suffering comes from false promises of pleasure. Procrastinating to play a videogame won't actually make you feel better. Temptation losses its power once you truly see the temptations for what they truly are.
Be My Neighbor by Katja Grace - Katja lives in a rationalist house on ward street in Berkeley and its great. The next step up is a rationalist neighborhood. Katja is promoting the same four houses as Scott. Be her neighbor?
What Value Subagents by G Gordan (Map and Territory) - Splitting the mind into subagents is a common rationalist model (links to Alicorn, Briene Yudkowsky, etc). However the author preferred model is a single process with inconsistent preferences. Freud. System 1 and System 2. The rider and the Elephant become one. Subagents as masks. Subagents as epicycles.
The Order Of The Soul by Ben Hoffman (Compass Rose) - The philosophy of accepting things vs the impulse to reshape them. Many philosophical and psychological models split the soul into three. Internalized authority vs seeing the deep structure of moral reality. In some sense math is the easiest thing in the world to learn. School poisons the enjoyment of rational thought. Lockhart's lament. Feynman. Eichmann and thinking structurally.
Aliens Merely Sleeping by Tyler Cowen - The universe is currently too hot for artificial life to be productive. Advanced civilizations might be freezing themselves until the universe cools. "They could achieve up to 1030 times more than if done today" [short]
Book Reviews by Torello (lesswrong) - Rationalist Adjacent. Each book has an interesting 'ideas per page' rating. Homo Deus, Sapiens, Super-intelligence, Surfaces and Essences, What Technology Wants, Inside Jokes, A Skeptic's Guide to the Mind.
Geometers Scribes Structure Intelligence by Ben Hoffman (Compass Rose) - "How does spatial reasoning lead to formal, logical reasoning?" Fluid and crystalized intelligence. Some history of Philosophy. How social dynamics lead to the evolution of reasoning. Talmudic and Western law, and their oddities. Universal Grammar and connecting with the divine. FizzBuzz.
High Dimensional Societies by Robin Hanson - In high dimensional space the distance between points varies less. What implications does this have for 'spatial' social science models (ex analogues of 1D spectrums and 2D graphs).
Feelings In The Map by Elo (BearLamp) - Confusion is not a property of the external world. The same holds for many emotions. Non-violent communication and speaking from your own perspective.
Lesswrong Is Not About Forum Software by enye-word (lesswrong) - The best way to increase activity on lesswrong is to get back the top posters, especially Scott and Eliezer.
Explication by mindlevelup - "This essay is about explication, the notion of making things specific. I give some examples involving Next Actions and systematization. This might also just be obvious to many people. Part of it is also a rehash of Act Into Uncertainty. Ultimately, explication is about changing yourself."
Concrete Instructions by Elo (BearLamp) - "The objective test of whether the description is concrete is whether the description can be followed by an anonymous person to produce the same experience." Some examples including the 'paper folding game'.
Human Seems Low Dimensional by Robin Hanson - 'Humanness' seems to be a one dimensional variable. Hence people are likely to consider ems conscious and worthy of decent treatment since ems are human-like on many important factors. Some discussion of a study where people rated how human-like various entities were.
Erisology Of Self And Will: A Natural Offering by Everything Studies - A description of naturalism and it relation to science. Daniel Dennet. Many philosophers are still dualists about the self. The self as a composite. Freedom as emergent.
The Hungry Brain by Bayesian Investor - A short review that focuses on the basics of Guynet's ideas and meta-discussion of why Guynet included so much neuroscience. "Guyenet provides fairly convincing evidence that it’s simple to achieve a healthy weight while feeling full. (E.g. the 20 potatoes a day diet)."
Boost From The Best by Robin Hanson - [Age of Em] How many standard deviations above the mean will be the best em be? How much better will they be than the second best em? How much of a wage/leisure premium will the best em receive.
Becoming Stronger Together by b4yes (lesswrong) - "About a year ago, a secret rationalist group was founded. This is a report of what the group did during that year."
In Praise Of Fake Frameworks by Valentine (lesswrong) - "I use a lot of fake frameworks — that is, ways of seeing the world that are probably or obviously wrong in some important way. I think this is an important skill. There are obvious pitfalls, but I think the advantages are more than worth it. In fact, I think the "pitfalls" can even sometimes be epistemically useful."
Letter To Future Layperson by Sailor Vulcan (BYS) - A letter from someone in our age to someone post singularity. Description of the hardships and terrors of pre-singularity life. Emotional and poetic. ~5K words.
===AI:
Conversation With An Ai Researcher by Jeff Kaufman - The anonymous researcher thinks AI progress is almost entirely driven by hardware and data. Back propagation has existed for a long time. Go would have taken at least 10 more years if go-aI work had remained constrained by academic budgets.
Openai Baselines PPO by Open Ai - "We’re releasing a new class of reinforcement learning algorithms, Proximal Policy Optimization (PPO), which perform comparably or better than state-of-the-art approaches while being much simpler to implement and tune. PPO has become the default reinforcement learning algorithm at OpenAI because of its ease of use and good performance."
Superintelligence Risk Project Update II by Jeff Kaufman - Jeff's thoughts and the sources he found most useful. Project is wrapping up in a few day. Topics: Technical Distance to AI. Most plausible scenarios of Superintelligence risk. OpenPhil's notes on how progress was potentially stalled in Cryonics and Nanotech.
Real Debate Robots Education by Tyler Cowen - Robots are already becoming part of the classroom. K-12 is an artificially creation anyway. Robots can help autistic or disabled children. Children sometimes trust robots too much.
Robust Adversarial Inputs by Open Ai - "We’ve created images that reliably fool neural network classifiers when viewed from varied scales and perspectives. This challenges a claim from last week that self-driving cars would be hard to trick maliciously since they capture images from multiple scales, angles, perspectives, and the like."
What Is Overfitting Exactly by Andrew Gelman - "If your model is correct, “overfitting” is impossible. In its usual form, “overfitting” comes from using too weak of a prior distribution."
Conversation With Bryce Wiedenbeck by Jeff Kaufman - "AGI is possible, it could be a serious problem, but we can't productively work on it now." AGI will look very different from current technologies. Utility functions are a poor model of human behavior.
Examples Of Superintelligence Risk by Jeff Kaufman - A series of extended quotes describing ways AI with innocent seeming goals can destroy the world. Authors: Nick Bostrom, Eliezer (and collaborators), Luke M, 80K hours, Tim Urban. Jeff finds them unpersuasive and asks for better ones. Lots of interesting comments. Eleizer himself comments describing how 'paperclip maximizers' might realistically occur.
Superintelligence Risk Project Update by Jeff Kaufman - Links to the three most informative readings on AI risk. Details on the large number of people Jeff has talked to. Three fundamental points of view on AI-Safety. Three Fundamental points of disagreement. An update on the original questions Jeff was trying to answer.
Conversation With Michael Littman by Jeff Kaufman - CS Professor at Brown's opinions: Deep Learning is surprisingly brittle in his experience. General Intelligence will require large fundamental advances. The AI risk community isn't testing their ideas so they probably aren't making real progress.
===EA:
EAGX Relaunch by Roxanne_Heston (EA forum) - The EA global satellite EAGA-X conferences have been low activity. Changes: More funding and flexibility. Standardized formats. Fewer groups approved. Stipends to primary organizers.
Uncertainty Smoothes Out Differences In Impact by The Foundational Research Institute - Many inside view evaluations conclude that one intervention is orders of magnitude more effective than another. Uncertainty significantly reduces these ratios.
Autonomy: A Search For A Measure Will Pearson (EA forum) - "I shall introduce a relatively formal measure of autonomy, based on the intuition that it is the ability to do things by yourself with what you have. The measure introduced allows you to move from less to more autonomy, without being black and white about it. Then I shall talk about how increasing autonomy fits in with the values of movements such as poverty reduction, ai risk reduction and the reduction of suffering."
Eight media articles on GiveDirectly, Cash Transers and Basic Income.- A world where 8 men own as much wealth as 3.6 billion people by GiveDirectly -
More Giving Vs Doing by Jeff Kaufman - EA is moving far more money than it used to and the ramp up will continue. This means direct work has become relatively more valuable. Nonetheless giving money is still useful, capacity isn't being filled. Jeff plans on earning to give based on his personal constraints.
Why I Think The Foundational Research Institute by Mike Johnson (EA forum) - A description of the FRI. Good things about FRI. FRI's research framework and why the author is worried. Eight long objections. TLDR: "functionalism ("consciousness is the sum-total of the functional properties of our brains") sounds a lot better than it actually turns out to be in practice. In particular, functionalism makes it impossible to define ethics & suffering in a way that can mediate disagreements."
Tranquilism by The Foundational Research Institute - A paper arguing that reducing suffering is more important than promoting happiness. Axiology. Non-consciousness. Common Objections. Conclusion.
An Argument For Why The Future May Be Good by Ben West (EA forum) - Factory farming shows that humans are deeply cruel. Technology enabled this cruelty, perhaps the future will be even darker. Counterargument: Humans are lazy, not evil. Humans as a group will spend at least small amounts altruistically. In the future the cost of reducing suffering will go down low enough that suffering will be rare or non-existent.
Arguments Moral Advocacy by The Foundational Research Institute - "What does moral advocacy look like in practice? Which values should we spread, and how? How effective is moral advocacy compared to other interventions such as directly influencing new technologies? What are the most important arguments for and against focusing on moral advocacy?"
An Argument For Broad And Inclusive by Kaj Sotala (EA forum) - "I argue for a very broad, inclusive EA, based on the premise that the culture of a region is more important than any specific group within that region... As a concrete strategy, I propose a division into low-level and high-level EA"
Not Everybody wants a Goat by GiveDirectly - Eight links on GiveDirectly, Cash Transfers, Effective Altruism and Basic Income.
Mid Year Update by The GiveWell Blog - Encouraging more charities to apply. More research of potential interventions. Short operations recap. GiveWell is focusing more on outreach.
===Politics and Economics:
College Tuition by Tom Bartleby - Sticker prices for college have gone up 15K in twenty years, but the average actual cost has only gone up 2.5K. High prices are almost compensated by high aid. Advantage: more equitable access to education. Disadvantages: Not everyone knows about the aid, financial aid is large enough it can seriously distort family financial decisions.
War Of Wages Part 1 Apples And Walmarts by Jacob Falkovich (Put A Number On It!) - The Author thinks minimum wage hurts the poor. Walmart can't afford higher wages. Copenhagan Interpretation of Ethics: Walmart helps the poor and gets blamed, Apple does nothing for the poor but avoids blame.
Links 10 by Artir (Nintil) - Tons of links. Economics, Psychology, AI, Philosophy, Misc.
Pretend Ask Answer by Ben Hoffman (Compass Rose) - A short dialogue about Patriarchy and the meaning of oppression. Defensive actions are often a response to bad faith from the other side. Its not ok to explicitly say you think your partner is arguing in bad faith.
Cultural Studies Ironically Is Something Of A Colonizer by Freddie deBoer - An origin story for Writing Studies. The fields initial methodological diversity. Cultural studies took over the field, empirical work has been pushed out. Evidence that some cultural studies professors really do believe its fundamentally bigoted to do science and empirical research endangers marginalized students. The field has become insular.
The Dark Arts Examples From The Harris Adams Debate by Stabilizer (lesswrong) - The author accuses Scott Adams of using various dark Arts: Changing the subject, Motte-and-bailey, Euphemisation, Diagnosis, Excusing, Cherry-picking evidence.
Study Of The Week Modest But Real Benefits From Lead Exposure Interventions by Freddie deBoer - Freddie reviews a survey he found via SSC. The study had very good controls. Methodology is explained and key graphs are posted and discussed. Scott and Freddie seem to agree on the facts but have a different opinion on how large to consider the effects.
Descriptive And Prescriptive Standards by Simon Penner (Status 451) - Leadership means winning the Keynesian Beauty Contest. Public opinion doesn't exist as a stable reality. Prescribing public opinion. Dangers of social reform and leaders twisting the facts to promote noble outcomes.
A Taylorism For All Seasons by Lou (sam[]zdat) - "Christopher Lasch – The Culture of Narcissism, part 1/X, current essay being more of an overview." A Masquerade where you must act out the mask you choose.
Mechanism Agnostic Low Plasticity Educational Realism by Freddie deBoer - Freddie's educational philosophy. People sort into persistent academic strata. Educational attainment is heavily determined by factors outside of school's control. The mechanism differences in academic ability is unknown. Social and political implications.
Kin Aesthetics Excommunicate Me From The Church Of Social Justice by Frances Lee - A SJ-insider's critical opinion of SJ. Fear of being impure. Original Sin. Reproducing colonial structures of power and domination within social justice. Everyday Feminism's belittling articles. More humility. Bringing humanity to everyone, even those who have been inhumane.
Study Of The Week To Remediate Or Not To Remediate by Freddie deBoer - Should low math proficiency students take remedial algebra or credit bearing statistics. The City University of New York ran an actual randomized study to test this. The study had pretty good controls. For example students were randomly assigned to three groups, participating professors taught one section of each group.
Should We Build Lots More Housing In San Francisco: Three Reasons People Disagree by Julia Galef - For each of the three reasons Julia describes multiple sub-reasons. More housing might not lower prices much. More housing won't help the poor. NIMBY objections might be legitimate.
Kenneth Arrow On The Welfare Economics Of Medical Care A Critical Assessment by Artir (Nintil) - "Kenneth Arrow wrote a paper in 1963, Uncertainty and the Welfare Economics of Medical Care. This paper tends to appear in debates regarding whether healthcare can be left to the market (like bread), or if it should feature heavy state involvement. Here I explain what the paper says, and to what extent it is true."
Thoughts On Doxxing by Ozy (Thing of Things) - CNN found the identity of the guy who made the video of Trump beating up CNN. They implied they would dox him if he continued being racist. Is doxxing him ok? What about doxxing someone who runs jailbait? Ozy discusses the practical effect of doxxing and unleashing hate mobs.
On The Seattle Minimum Wage Study Part 2 by Zvi Moshowitz - Several relevant links are included. Seattle's economic boom and worker composition changes are important factors. Zvi dives deep into the numbers and tries to resolve an apparent contradiction.
Radical Book Club The Decentralized Left by davidzhines (Status 451) - The nature of leftwing organizing and what righties can learn from it. An exposition of multiple books on radical left organization building. Major themes are "doing the work" and "decentralized leadership".
On The Seattle Minimum Wage Study Part 1 by Zvi Moshowitz - The claimed effect sizes are huge. Zvi's priors about the minimum wage. Detailed description of some of the paper's methods and how it handle potential issues. Discussion of the raw data. More to come in part 2.
===Misc:
Childcare II by Jeff Kaufman - A timeline of childcare for Jeff's two children. Methods: Staying at home, Daycare, Au pair, Nanny.
Easier Chess Problem by protokol2020 - How many pieces do you need to capture a black queen?
Book Review Mathematics For Computer Science by richard_reitz (lesswrong) - Why the text should be in the MIRI research guide. Intro. Prereqs. Detailed comparisons to similar texts. Complaints.
Information is Physical by Scott Aaronson - Is information is physical a contentful expression? Why 'physics is information' is tautological. A proposed definition. Double slit experiment. Observation in Quantum Mechanics. Information takes up a minimum amount of space. Entropy. Information has nowhere to go.
Book Review Working Effectively With Legacy Code By Michael C Feathers by Eli Bendersky - To improve code we must refactor, to refactor we have to test, making code testable may take heroic efforts. "The techniques described by the author are as terrible as the code they're up against."
The Ominouslier Roar Of The Bitcoin Wave by Artem and Venkat (ribbonfarm) - A video visualizing and audiolizing the bitcoin blockchain. A related dialogue.
From Monkey Neurons To The Meta Brain by Hal Morris (ribbonfarm) - Neurons that only fire in response to Jennifer Anniston. Mirror Neurons. Theory of Mind. The path from copying movement to human-level empathy. Infant development. Dreams as social simulator. Communicating with our models of other people. He rapidly accelerating and dangerous future. We need to keep our mind open to possibilities.
Newtonism Question by protokol2020 - Balancing Forces. Gravity problem.
Short Interview Writing by Tyler Cowen - Tyler Cowen's writing habits. Many concrete details such as when he writes and what program he uses. Some more general thoughts on writing such as Tyler's surprising answer to which are his favorite books on writing.
Unexpected by protokol2020 - Discussion of gaps between primes. "Say, that you have just sailed across some recordly wide composite lake and you are on a prime island again. What can you expect, how much wider will the next record lake be?"
Interacting With A Long Running Child Process In Python by Eli Bendersky - Using the subprocess module to run an http server. Solutions and analysis of common use cases. Lots of code.
4d Mate Problem by protokol2020 - How many queens do you need to get a checkmate in 4D chess.
The Destruction Of American Cuisine by Small Truths - America used to have a tremendous number of regional cuisines, most are dead. They were killed by supermarkets and frozen food. This has been costly both in terms of culture and health (antibiotic resistance, crop monoculture risk)
===Podcast:
Sally Satel On Organ Donation by EconTalk - "The challenges of increasing the supply of donated organs for transplantation and ways that public policy might increase the supply." Tax Credits. The ethics of donor compensation.
Podcast The World Needs Ai Researchers Heres How To Become One by 80,000 Hours - "OpenAI’s latest plans and research progress. Concrete Papers in AI Safety, which outlines five specific ways machine learning algorithms can act in dangerous ways their designers don’t intend – something OpenAI has to work to avoid. How listeners can best go about pursuing a career in machine learning and AI development themselves."
88 Must We Accept A Nuclear North Korea by Waking Up with Sam Harris - "Mark Bowden and the problem of a nuclear-armed North Korea."
Triggered by Waking Up with Sam Harris - "Sam Harris and Scott Adams debate the character and competence of President Trump."
Conversation Atul Gawande by Tyler Cowen - The marginal value of health care, AI progress in medicine, fear of genetic engineering, whether the checklist method applies to marriage, FDA regulation, surgical regulation, Michael Crichton and Stevie Wonder, wearables, what makes him weep, Knausgaard and Ferrante, why surgeons leave sponges in patients.
Nneka Jones Tapia by The Ezra Klein Show - The first psychologist to run a prison. 30% of inmates have diagnosed mental health problems. Mental heath view of the penal system, balancing punishment and treatment, responsibility versus mental instability, the tension between what we use jail for and what we should use jail for.
Tamar Haspel by EconTalk - "Why technology helps make some foods inexpensive, how animals are treated, the health of the honey bee, and whether eggs from your backyard taste any better than eggs at the grocery."
From Cells To Cities by Waking Up with Sam Harris - "Biological and social systems scale, the significance of fractals, the prospects of radically extending human life, the concept of “emergence” in complex systems, the importance of cities, the necessity for continuous innovation"
Inside The World Of Supertraining: Mark Bell by Tim Feriss - "Mark’s most important lessons for building strength. How to avoid injury and breakdown. Lesser-known training techniques that nearly everyone overlooks. How Mark became a millionaire by offering his gym memberships for free."
Eddie Izzard by The Ezra Klein Show - 27 marathons in 27 days, process for writing jokes, why he wants to run for parliament, inspiration from Al Franken's, borrowing confidence from his future self. What he learned as a street performer, routines are based on history and anthropology, World War I, 'cake or death?'. His gender identity, and how he integrated it into his act early on, etc.
Martha Nussbaum by EconTalk - "The tension between acquiring power and living a life of virtue. Topics discussed include Hamilton's relationship with Aaron Burr, Burr's complicated historical legacy, and the role of the humanities in our lives."
Rs 188 Robert Kurzban On Being Strategically Wrong by Rationally Speaking - Why Everyone (Else) is a Hypocrite." The "modular mind" hypothesis, and how it explains hypocrisy, self-deception, and other seemingly irrational features of human nature.
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Bitcoin HARDTalk coming soon How To Pool Mine Crypto-Currency - Altcoin Tutorial Bitcoin Q&A: Price volatility and store-of-value Bitcoin and the Regression Theorem Steve Patterson & Me about Bitcoin Cash vs Bitcoin SV

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Bitcoin HARDTalk coming soon

This video is unavailable. Watch Queue Queue. Watch Queue Queue Bitcoin 101 - Modelling the Price of Bitcoin - Is a $100,000 bitcoin possible? ... Andreas Antonopoulos discuss Bitcoin stability, viability and volatility - Duration: 37:11. Liberty.me 12,866 ... In this cryptocurrency tutorial, we learn how to mine bitcoin and other similar cryptocoins using pool mining. This technique is used to mine cryptocurrency ... Bitcoin HARDTalk - A brand new talk show from Simon Dixon is coming. - Amazing guests - Debates - Discussions - Bitcoin - Future of Money and more. Exclusive only on Simon Dixon's youtube channel ... Anthony "Pomp" Pompliano appeared on CNBC's Squawk Box to discuss Bitcoin, specifically whether it would serve as a good hedge during times of global instabi...

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