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submitted by Ballet-Crypto to u/Ballet-Crypto [link] [comments]
After months of anticipation, we are very excited to share with you the vision behind Ballet and our approach to achieve global adoption and safe usability of Bitcoin and other Cryptocurrencies.
Core FunctionalitiesBallet is designed as an easy entry point to store Cryptocurrencies in a secure way. Especially when new to the Crypto-space, it is not only easier to understand the functionality of Bitcoin when having a physical device, but also more secure.
The ballet wallet is a piece of hardware that is disconnected from the Internet, very simple to use and most importantly non-electronic which makes it the first of its kind. Users do not need to worry about hard-ware issues that are normally associated to hardware solutions such as bluetooth pairing, batteries or cables. Our solution requires no installment or setup — it is ready to use right away. In addition, besides Bitcoin it also supports ERC-20 tokens and stable coins.
Who is this for?Primarily, the Ballet Wallet is built for everyone new to Crypto. Signing up on an exchange, buying the first cryptocurrencies and storing them on a secure wallet is a complex and time-consuming process. Especially for non blockchainer’s or just occasional Internet-users, this might even prevent them to not get into Crypto.
We believe that in order to achieve mass-adoption, we need to lower the entry-barriers and simplify the user experience while providing highest security and privacy. Therefore we created Ballet. Our mission is to eliminate bothersome steps that hinder adoption for cryptocurrencies.
If you understand what a SEED-Phrase is or how to generate your private keys, maybe this isn’t for you. However, it might be something for your family-members, your neighbour or colleague at work? We target people that are interested but just don’t know (or don’t care) where and how to get started.
Here’s How to Get Started:Our core aim is to build an easy-to-use crypto wallet. Using the BIP-38 standard to enable secure passphrase encryption, the private keys are automatically pre-generated and engraved onto the card. There are no intermediate-steps for card activation or separately storage of private keys required.
Ballet users enjoy immediate usability by just scanning the QR-Code engraved on the wallet. The companion Ballet Crypto App brings the card to live without ever storing or sharing the private keys online with anyone.
It is an easy-to-use all-in-one solution that helps drive global adoption for cryptocurrencies and decentralised ledger technology to succeed.
Official Stores & MarketplacesYou can order your Ballet Crypto Wallet in our Online Store or on Amazon: United States, United Kingdom, France, Italy or Spain. Ballet wallets are also available in Latin America. Join the Telegram Community to get in touch with our team in Medellin, Colombia and ask for details how to purchase the wallet. You will save time, shipping cost and custom fees when buying the wallets directly from our Latam-team.
What’s NextAfter the successful launch of our product and our very positive reception and feedback so far, we are currently busy on expanding our reach and build local communities all around the world. An important pillar to Ballet’s success is also our global distribution network that we aim to further expand, too.
To learn more about Ballet Crypto, sign up for email updates on our Website. To stay up to date on Ballet news and announcements, follow us on Twitter, Linked In, Facebook, Instagram and join the conversation in our TelegramCommunity.
submitted by QBEXCHANE to u/QBEXCHANE [link] [comments]
According to the founder of Ballet and former Director of the exchange BTCC Bobby Lee, the rate of bitcoin can easily exceed $100,000 within a few years.
At the summit in Malta, where Lee presented his hardware wallet Ballet, He also said that he is a "bitcoin maximalist" and recommended all his friends and family to invest 1-2% of their savings in bitcoin.
"The price of bitcoin moves in waves. Each new "bullish jerk" the rate of the first cryptocurrency increases 10 or 20 times compared to the previous peaks. So in the next cycle, bitcoin can easily exceed $100,000 or even $200,000. I believe bitcoin will grow strongly over the next five or ten years, " Lee said.
Recall that the launch of the company Ballet became known in September this year. At the time, it was reported that Ballet hardware wallets would generate public addresses and private keys for users in advance, which would make working with the wallet much easier.
#BobbyLee #opinions #forecasting #rate #bitcoin
The steps to run the network are as follows: 1. New transactions are broadcast to all nodes. 2. Each node collects new transactions into a block. 3. Each node works on finding a difficult proof-of-work for its block. 4. When a node finds a proof-of-work, it broadcasts the block to all nodes. 5. Nodes accept the block only if all transactions in it are valid and not already spent. 6. Nodes express their acceptance of the block by working on creating the next block in the chain, using the hash of the accepted block as the previous hash.The word 'invalid' is used in the same context in the 'Calculations' section of the white paper. Specifically, it states;
We consider the scenario of an attacker trying to generate an alternate chain faster than the honest chain. Even if this is accomplished, it does not throw the system open to arbitrary changes, such as creating value out of thin air or taking money that never belonged to the attacker. Nodes are not going to accept an invalid transaction as payment, and honest nodes will never accept a block containing them. An attacker can only try to change one of his own transactions to take back money he recently spent.In this context 'valid' and 'invalid' is referring to the validity of individual transactions that have been published into a block. For example a transaction's outputs cannot spend/total more than its combined inputs. This meaning of 'valid' is well understood so I will not discuss this further.
The incentive may help encourage nodes to stay honest. If a greedy attacker is able to assemble more CPU power than all the honest nodes, he would have to choose between using it to defraud people by stealing back his payments, or using it to generate new coins. He ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth.In this context Satoshi is talking about the fact that by undermining bitcoin and the blockchain by trying to steal from it, he is devaluing his own spoils. i.e. there is a disincentive to try and attack the network. This is unfortunately not a well understood concept but is not relevant to the word 'validity' in terms of hard forks.
While network nodes can verify transactions for themselves, the simplified method can be fooled by an attacker's fabricated transactions for as long as the attacker can continue to overpower the network. One strategy to protect against this would be to accept alerts from network nodes when they detect an invalid block, prompting the user's software to download the full block and alerted transactions to confirm the inconsistency.In this context, an 'invalid' block is simply a block that contains invalid transactions (as discussed earlier in this article) that are being used by an attacker to steal funds. This only works on an SPV (simplified payment verification) node because they do not have the full blockchain to check against. As this is not relevant to the 'validity' of network forks it is outside the scope of this article.
They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism.The absolutely key word in these sentences is 'vote'. The mining nodes in the network vote in every block by accepting blocks they consider 'valid' and rejecting blocks they consider 'invalid'. Well this then begs the question; if the miners are voting on what is invalid and what is valid, what determines the validity? This is the crux of the issue. The currently held misunderstanding, often purveyed by a number of Core developers is that validity is determined by whether the blocks fit within the current consensus protocol. This is nonsensical. With each block being a vote, this would be the equivalent of when Fifa had a vote for their president in 2011 and the only name on the ballot paper was Sepp Blatter. In fact it is worse than that, as in the case for bitcoin it would be the same name (rules) on the ballet paper for every single block forever. Just like Fifa, this would make bitcoin into a kind of banana republic where the vote is totally meaningless, and in reality, there is no vote at all. This is in total contradiction to the white paper. In fact what it states is "Any needed rules and incentives can be enforced with this consensus mechanism." This means that the rules can be changed and voted upon if the majority of the hash power agrees.
The proof-of-work also solves the problem of determining representation in majority decision making. If the majority were based on one-IP-address-one-vote, it could be subverted by anyone able to allocate many IPs. Proof-of-work is essentially one-CPU-one-vote. The majority decision is represented by the longest chain, which has the greatest proof-of-work effort invested in it. If a majority of CPU power is controlled by honest nodes, the honest chain will grow the fastest and outpace any competing chains. To modify a past block, an attacker would have to redo the proof-of-work of the block and all blocks after it and then catch up with and surpass the work of the honest nodes.The first sentence "The proof-of-work also solves the problem of determining representation in majority decision making." directly links to the statement in the white paper conclusion that "Any needed rules and incentives can be enforced with this consensus mechanism.". What is being stated is that the rules of the system, and any changes to them, can be determined and enforced using the proof-of-work system. It is stating that the majority of the hash power decides their representation in decision making.
After the conference, news.Bitcoin.com went back to our hotel and tested the stainless steel Ballet card. The card is thicker (1.22mm) than a normal credit card, but roughly the same size as the ... "Ballet's new REAL Pizza wallet marks bitcoin's uptrending history with a stylish and durable collectible that has a celebratory design," said Ballet founder and CEO Bobby Lee. "We hope the ... Ballet's REAL Pizza Physical Wallet Marks Tenth Anniversary of Bitcoin Pizza Day With Limited Edition Design. LAS VEGAS (PRWEB) May 22, 2020 . Ballet today announced a new physical cryptocurrency ... Bobby Lee told news.Bitcoin.com that as soon as private keys are applied to the Ballet card, the keys are immediately deleted. “Just like Mike Caldwell who made Casascius physical bitcoins, I’m putting my name behind [Ballet],” Lee stressed to our newsdesk. “None of those coins have ever been hacked or stolen and the reason I know it will never happen is because I deleted the private ... Home » Litecoin (LTC) Block Ballet cards and Litecoin POS Excitement is Happening in the Community. Litecoin (LTC) Block Ballet cards and Litecoin POS Excitement is Happening in the Community September 6, 2020 Off By Maheen Hernandez . Over the recent weeks, a tweet about LTC stated Litecoin P2P trading volume surged by 350% in Latin America and 266% in Sub-Saharan Africa. Until L2s become ...
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