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Filecoin | Development Status and Mining Progress

Author: Gamals Ahmed, CoinEx Business Ambassador
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A decentralized storage network that transforms cloud storage into an account market. Miners obtain the integrity of the original protocol by providing data storage and / or retrieval. On the contrary, customers pay miners to store or distribute data and retrieve it.
Filecoin announced, that there will be more delays before its main network is officially launched.
Filecoin developers postponed the release date of their main network to late July to late August 2020.
As mentioned in a recent announcement, the Filecoin team said that the initiative completed the first round of the internal protocol security audit. Platform developers claim that the results of the review showed that they need to make several changes to the protocol’s code base before performing the second stage of the software testing process.
Created by Protocol Labs, Filecoin was developed using File System (IPFS), which is a peer-to-peer data storage network. Filecoin will allow users to trade storage space in an open and decentralized market.
Filecoin developers implemented one of the largest cryptocurrency sales in 2017. They have privately obtained over $ 200 million from professional or accredited investors, including many institutional investors.
The main network was slated to launch last month, but in February 2020, the Philly Queen development team delayed the release of the main network between July 15 and July 17, 2020.
They claimed that the outbreak of the Coronavirus (COVID-19) in China was the main cause of the delay. The developers now say that they need more time to solve the problems found during a recent codecase audit.
The Filecoin team noted the following:
“We have drafted a number of protocol changes to ensure that building our major network launch is safe and economically sound.” The project developers will add them to two different implementations of Filecoin (Lotus and go-filecoin) in the coming weeks.
Filecoin developers conducted a survey to allow platform community members to cast their votes on three different launch dates for Testnet Phase 2 and mainnet.
The team reported that the community gave their votes. Based on the vote results, the Filecoin team announced a “conservative” estimate that the second phase of the network test should begin by May 11, 2020. The main Filecoin network may be launched sometime between July 20 and August 21, 2020.
The updates to the project can be found on the Filecoin Road Map.
Filecoin developers stated:
“This option will make us get the most important protocol changes first, and then implement the rest as protocol updates during testnet.” Filecoin is back down from the final test stage.
Another filecoin decentralized storage network provider launched its catalytic test network, the final stage of the storage network test that supports the blockchain.
In a blog post on her website, Filecoin said she will postpone the last test round until August. The company also announced a calibration period from July 20 to August 3 to allow miners to test their mining settings and get an idea of how competition conditions affected their rewards.
Filecoin had announced earlier last month that the catalytic testnet test would precede its flagship launch. The delay in the final test also means that the company has returned the main launch window between August 31 and September 21.
Despite the lack of clear incentives for miners and multiple delays, Filecoin has succeeded in attracting huge interest, especially in China. Investors remained highly speculating on the network’s mining hardware and its premium price.
Mining in Filecoin
In most blockchain protocols, “miners” are network participants who do the work necessary to promote and maintain the blockchain. To provide these services, miners are compensated in the original cryptocurrency.
Mining in Filecoin works completely differently — instead of contributing to computational power, miners contribute storage capacity to use for dealing with customers looking to store data.
Filecoin will contain several types of miners:
Storage miners responsible for storing files and data on the network. Miners retrieval, responsible for providing quick tubes for file recovery. Miners repair to be carried out.
Storage miners are the heart of the network. They earn Filecoin by storing data for clients, and computerizing cipher directories to check storage over time. The probability of earning the reward reward and transaction fees is proportional to the amount of storage that the Miner contributes to the Filecoin network, not the hash power.
Retriever miners are the veins of the network. They earn Filecoin by winning bids and mining fees for a specific file, which is determined by the market value of the said file size. Miners bandwidth and recovery / initial transaction response time will determine its ability to close recovery deals on the network.
The maximum bandwidth of the recovery miners will determine the total amount of deals that it can enter into.
In the current implementation, the focus is mostly on storage miners, who sell storage capacity for FIL.

Hardware recommendations

The current system specifications recommended for running the miner are:
Compared to the hardware requirements for running a validity checker, these standards are much higher — although they definitely deserve it. Since these will not increase in the presumed future, the money spent on Filecoin mining hardware will provide users with many years of reliable service, and they pay themselves many times. Think of investing as a small business for cloud storage. To launch a model on the current data hosting model, it will cost millions of dollars in infrastructure and logistics to get started. With Filecoin, you can do the same for a few thousand dollars.
Proceed to mining
Deals are the primary function of the Filecoin network, and it represents an agreement between a client and miners for a “storage” contract.
Once the customer decides to have a miner to store based on the available capacity, duration and price required, he secures sufficient funds in a linked portfolio to cover the total cost of the deal. The deal is then published once the mine accepts the storage agreement. By default, all Filecoin miners are set to automatically accept any deal that meets their criteria, although this can be disabled for miners who prefer to organize their deals manually.
After the deal is published, the customer prepares the data for storage and then transfers it to the miner. Upon receiving all the data, the miner fills in the data in a sector, closes it, and begins to provide proofs to the chain. Once the first confirmation is obtained, the customer can make sure the data is stored correctly, and the deal has officially started.
Throughout the deal, the miner provides continuous proofs to the chain. Clients gradually pay with money they previously closed. If there is missing or late evidence, the miner is punished. More information about this can be found in the Runtime, Cut and Penalties section of this page.
At Filecoin, miners earn two different types of rewards for their efforts: storage fees and reward prevention.
Storage fees are the fees that customers pay regularly after reaching a deal, in exchange for storing data. This fee is automatically deposited into the withdrawal portfolio associated with miners while they continue to perform their duties over time, and is locked for a short period upon receipt.
Block rewards are large sums given to miners calculated on a new block. Unlike storage fees, these rewards do not come from a linked customer; Instead, the new FIL “prints” the network as an inflationary and incentive measure for miners to develop the chain. All active miners on the network have a chance to get a block bonus, their chance to be directly proportional to the amount of storage space that is currently being contributed to the network.
Duration of operation, cutting and penalties
“Slashing” is a feature found in most blockchain protocols, and is used to punish miners who fail to provide reliable uptime or act maliciously against the network.
In Filecoin, miners are susceptible to two different types of cut: storage error cut, unanimously reduce error.
Storage Error Reduction is a term used to include a wider range of penalties, including error fees, sector penalties, and termination fees. Miners must pay these penalties if they fail to provide reliability of the sector or decide to leave the network voluntarily.
An error fee is a penalty that a miner incurs for each non-working day. Sector punishment: A penalty incurred by a miner of a disrupted sector for which no error was reported before the WindowPoSt inspection.
The sector will pay an error fee after the penalty of the sector once the error is discovered.
Termination Fee: A penalty that a miner incurs when a sector is voluntary or involuntarily terminated and removed from the network.
Cutting consensus error is the penalty that a miner incurs for committing consensus errors. This punishment applies to miners who have acted maliciously against the network consensus function.
Filecoin miners
Eight of the top 10 Felticoin miners are Chinese investors or companies, according to the blockchain explorer, while more companies are selling cloud mining contracts and distributed file sharing system hardware. CoinDesk’s Wolfe Chao wrote: “China’s craze for Filecoin may have been largely related to the long-standing popularity of crypto mining in the country overall, which is home to about 65% of the computing power on Bitcoin at discretion.”
With Filecoin approaching the launch of the mainnet blocknet — after several delays since the $ 200 million increase in 2017 — Chinese investors are once again speculating strongly about network mining devices and their premium prices.
Since Protocol Labs, the company behind Filecoin, released its “Test Incentives” program on June 9 that was scheduled to start in a week’s time, more than a dozen Chinese companies have started selling cloud mining contracts and hardware — despite important details such as economics Mining incentives on the main network are still endless.
Sales volumes to date for each of these companies can range from half a million to tens of millions of dollars, according to self-reported data on these platforms that CoinDesk has watched and interviews with several mining hardware manufacturers.
Filecoin’s goal is to build a distributed storage network with token rewards to spur storage hosting as a way to drive wider adoption. Protocol Labs launched a test network in December 2019. But the tokens mined in the testing environment so far are not representative of the true silicon coin that can be traded when the main network is turned on. Moreover, the mining incentive economics on testnet do not represent how final block rewards will be available on the main network.
However, data from Blockecoin’s blocknetin testnet explorers show that eight out of 10 miners with the most effective mining force on testnet are currently Chinese miners.
These eight miners have about 15 petabytes (PB) of effective storage mining power, accounting for more than 85% of the total test of 17.9 petable. For the context, 1 petabyte of hard disk storage = 1000 terabytes (terabytes) = 1 million gigabytes (GB).
Filecoin craze in China may be closely related to the long-standing popularity of crypt mining in the country overall, which is home to about 65% of the computing power on Bitcoin by estimation. In addition, there has been a lot of hype in China about foreign exchange mining since 2018, as companies promote all types of devices when the network is still in development.
“Encryption mining has always been popular in China,” said Andy Tien, co-founder of 1475, one of several mining hardware manufacturers in Philquin supported by prominent Chinese video indicators such as Fenbushi and Hashkey Capital.
“Even though the Velikoyen mining process is more technologically sophisticated, the idea of mining using hard drives instead of specialized machines like Bitcoin ASIC may be a lot easier for retailers to understand,” he said.
Meanwhile, according to Feixiaohao, a Chinese service comparable to CoinMarketCap, nearly 50 Chinese crypto exchanges are often somewhat unknown with some of the more well-known exchanges including Gate.io and Biki — have listed trading pairs for Filecoin currency contracts for USDT.
In bitcoin mining, at the current difficulty level, one segment per second (TH / s) fragmentation rate is expected to generate around 0.000008 BTC within 24 hours. The higher the number of TH / s, the greater the number of bitcoins it should be able to produce proportionately. But in Filecoin, the efficient mining force of miners depends on the amount of data stamped on the hard drive, not the total size of the hard drive.
To close data in the hard drive, the Filecoin miner still needs processing power, i.e. CPU or GPU as well as RAM. More powerful processors with improved software can confine data to the hard drive more quickly, so miners can combine more efficient mining energy faster on a given day.
As of this stage, there appears to be no transparent way at the network level for retail investors to see how much of the purchased hard disk drive was purchased which actually represents an effective mining force.
The U.S.-based Labs Protocol was behind Filecoin’s initial coin offer for 2017, which raised an astonishing $ 200 million.
This was in addition to a $ 50 million increase in private investment supported by notable venture capital projects including Sequoia, Anderson Horowitz and Union Square Ventures. CoinDk’s parent company, CoinDk, has also invested in Protocol Labs.
After rounds of delay, Protocol Protocols said in September 2019 that a testnet launch would be available around December 2019 and the main network would be rolled out in the first quarter of 2020.
The test started as promised, but the main network has been delayed again and is now expected to launch in August 2020. What is Filecoin mining process?
Filecoin mainly consists of three parts: the storage market (the chain), the blockecin Filecoin, and the search market (under the chain). Storage and research market in series and series respectively for security and efficiency. For users, the storage frequency is relatively low, and the security requirements are relatively high, so the storage process is placed on the chain. The retrieval frequency is much higher than the storage frequency when there is a certain amount of data. Given the performance problem in processing data on the chain, the retrieval process under the chain is performed. In order to solve the security issue of payment in the retrieval process, Filecoin adopts the micro-payment strategy. In simple terms, the process is to split the document into several copies, and every time the user gets a portion of the data, the corresponding fee is paid. Types of mines corresponding to Filecoin’s two major markets are miners and warehousers, among whom miners are primarily responsible for storing data and block packages, while miners are primarily responsible for data query. After the stable operation of the major Filecoin network in the future, the mining operator will be introduced, who is the main responsible for data maintenance.
In the initial release of Filecoin, the request matching mechanism was not implemented in the storage market and retrieval market, but the takeover mechanism was adopted. The three main parts of Filecoin correspond to three processes, namely the stored procedure, retrieval process, packaging and reward process. The following figure shows the simplified process and the income of the miners:
The Filecoin mining process is much more complicated, and the important factor in determining the previous mining profit is efficient storage. Effective storage is a key feature that distinguishes Filecoin from other decentralized storage projects. In Filecoin’s EC consensus, effective storage is similar to interest in PoS, which determines the likelihood that a miner will get the right to fill, that is, the proportion of miners effectively stored in the entire network is proportional to final mining revenue.
It is also possible to obtain higher effective storage under the same hardware conditions by improving the mining algorithm. However, the current increase in the number of benefits that can be achieved by improving the algorithm is still unknown.
It seeks to promote mining using Filecoin Discover
Filecoin announced Filecoin Discover — a step to encourage miners to join the Filecoin network. According to the company, Filecoin Discover is “an ever-growing catalog of numerous petabytes of public data covering literature, science, art, and history.” Miners interested in sharing can choose which data sets they want to store, and receive that data on a drive at a cost. In exchange for storing this verified data, miners will earn additional Filecoin above the regular block rewards for storing data. Includes the current catalog of open source data sets; ENCODE, 1000 Genomes, Project Gutenberg, Berkley Self-driving data, more projects, and datasets are added every day.
Ian Darrow, Head of Operations at Filecoin, commented on the announcement:
“Over 2.5 quintillion bytes of data are created every day. This data includes 294 billion emails, 500 million tweets and 64 billion messages on social media. But it is also climatology reports, disease tracking maps, connected vehicle coordinates and much more. It is extremely important that we maintain data that will serve as the backbone for future research and discovery”.
Miners who choose to participate in Filecoin Discover may receive hard drives pre-loaded with verified data, as well as setup and maintenance instructions, depending on the company. The Filecoin team will also host the Slack (fil-Discover-support) channel where miners can learn more.
Filecoin got its fair share of obstacles along the way. Last month Filecoin announced a further delay before its main network was officially launched — after years of raising funds.
In late July QEBR (OTC: QEBR) announced that it had ceded ownership of two subsidiaries in order to focus all of the company’s resources on building blockchain-based mining operations.
The QEBR technology team previously announced that it has proven its system as a Filecoin node valid with CPU, GPU, bandwidth and storage compatibility that meets all IPFS guidelines. The QEBR test system is connected to the main Filecoin blockchain and the already mined filecoin coin has already been tested.
“The disclosure of Sheen Boom and Jihye will allow our team to focus only on the upcoming global launch of Filecoin. QEBR branch, Shenzhen DZD Digital Technology Ltd. (“ DZD “), has a strong background in blockchain development, extraction Data, data acquisition, data processing, data technology research. We strongly believe Filecoin has the potential to be a leading blockchain-based cryptocurrency and will make every effort to make QEBR an important player when Mainecoin mainnet will be launched soon”.
IPFS and Filecoin
Filecoin and IPFS are complementary protocols for storing and sharing data in a decentralized network. While users are not required to use Filecoin and IPFS together, the two combined are working to resolve major failures in the current web infrastructure.
IPFS
It is an open source protocol that allows users to store and transmit verifiable data with each other. IPFS users insist on data on the network by installing it on their own device, to a third-party cloud service (known as Pinning Services), or through community-oriented systems where a group of individual IPFS users share resources to ensure the content stays live.
The lack of an integrated catalytic mechanism is the challenge Filecoin hopes to solve by allowing users to catalyze long-term distributed storage at competitive prices through the storage contract market, while maintaining the efficiency and flexibility that the IPFS network provides.
Using IPFS
In IPFS, the data is hosted by the required data installation nodes. For data to persist while the user node is offline, users must either rely on their other peers to install their data voluntarily or use a central install service to store data.
Peer-to-peer reliance caching data may be a good thing as one or multiple organizations share common files on an internal network, or where strong social contracts can be used to ensure continued hosting and preservation of content in the long run. Most users in an IPFS network use an installation service.
Using Filecoin
The last option is to install your data in a decentralized storage market, such as Filecoin. In Filecoin’s structure, customers make regular small payments to store data when a certain availability, while miners earn those payments by constantly checking the integrity of this data, storing it, and ensuring its quick recovery. This allows users to motivate Filecoin miners to ensure that their content will be live when it is needed, a distinct advantage of relying only on other network users as required using IPFS alone.
Filecoin, powered by IPFS
It is important to know that Filecoin is built on top of IPFS. Filecoin aims to be a very integrated and seamless storage market that takes advantage of the basic functions provided by IPFS, they are connected to each other, but can be implemented completely independently of each other. Users do not need to interact with Filecoin in order to use IPFS.
Some advantages of sharing Filecoin with IPFS:
Of all the decentralized storage projects, Filecoin is undoubtedly the most interested, and IPFS has been running stably for two years, fully demonstrating the strength of its core protocol.
Filecoin’s ability to obtain market share from traditional central storage depends on end-user experience and storage price. Currently, most Filecoin nodes are posted in the IDC room. Actual deployment and operation costs are not reduced compared to traditional central cloud storage, and the storage process is more complicated.
PoRep and PoSt, which has a large number of proofs of unknown operation, are required to cause the actual storage cost to be so, in the early days of the release of Filecoin. The actual cost of storing data may be higher than the cost of central cloud storage, but the initial storage node may reduce the storage price in order to obtain block rewards, which may result in the actual storage price lower than traditional central cloud storage.
In the long term, Filecoin still needs to take full advantage of its P2P storage, convert storage devices from specialization to civil use, and improve its algorithms to reduce storage costs without affecting user experience. The storage problem is an important problem to be solved in the blockchain field, so a large number of storage projects were presented at the 19th Web3 Summit. IPFS is an important part of Web3 visibility. Its development will affect the development of Web3 to some extent. Likewise, Web3 development somewhat determines the future of IPFS. Filecoin is an IPFS-based storage class project initiated by IPFS. There is no doubt that he is highly expected.
Resources :
  1. https://www.coindesk.com/filecoin-pushes-back-final-testing-phase-announces-calibration-period-for-miners
  2. https://docs.filecoin.io/mine/#types-of-miners https://www.nasdaq.com/articles/inside-the-craze-for-filecoin-crypto-mining-in-china-2020-07-12؟amp
  3. https://www.prnewswire.com/news-releases/qebr-streamlines-holdings-to-concentrate-on-filecoin-development-and-mining-301098731.html
  4. https://www.crowdfundinsider.com/2020/05/161200-filecoin-seeks-to-boost-mining-with-filecoin-discove
  5. https://zephyrnet.com/filecoin-seeks-to-boost-mining-with-filecoin-discove
  6. https://docs.filecoin.io/introduction/ipfs-and-filecoin/#filecoin-powered-by-ipfs
submitted by CoinEx_Institution to filecoin [link] [comments]

Scam Alert: 0xMonero, blatant plagiarism to a point that's hilarious

So 0xMonero has been spammed a lot on /biz/ lately and someone even made a post here, only to delete it shortly after being called out. In case you don't know already, I'm here to tell you how much of a joke this project is.
0xMonero is supposedly a private mineable token on Ethereum, cool idea except when you look into the smart contract, it's a basically a copy & paste of another mineable token project, 0xBitcoin. If you compare codes from both projects with a plagiarism checker, you'll see that they're 99.5% match , as the "dev" only tweaked the token supply and decimal places.
Forks happen in crypto all the time, but the dev of 0xMonero never acknowledge the code and inspiration they've taken from 0xBitcoin, unlike other mineable token projects.
Although paying homage is a nice gesture, it's not mandatory since the ERC-918 is an open standard for mineable token right? Absolutely, but you'd think they can do a better job than covering the evidence of copying other's code than a 5th Grader, considering that's all they've done.
Here you can see a direct reference to 0xBitcoin in 0xMonero's smart contract, and How they're describing 0xBitcoin's token supply and decimal places which contradicts the actual code they've deployed.
Good thing is that the smart contract is immutable so the evidence will be left on the blockchain forever!
And why stop there when you have more to copy? So they have copied the 0xBitcoin token statistics webpage made by 0x1d00ffff on GitHub. Here's a side by side comparison of the webpage.
But is it possible that 0xMonero is a legit project despite the plagiarism?
Yes but most probably No. Yes because at this point the "dev" has made a lot of promise for future development just like many other crypto projects, only time will tell. No because if they couldn't code properly, or at least cover up the evidence of plagiarism, it's highly unlikely that they will deliver private token transaction (right now you can see all transactions and holder just like any other token). All the promise is just to make the project looks legitimate, to sell you a false hope and take your money.
Sure you can still make money in a scam but my advice is that do not buy into a obvious scam, coz someone is going to draw the short straw and it could be you.
tl;dr: incompetent dev stole code left and right, left behind immutable evidence on smart contract, project is based on empty promise with nothing to show for
submitted by Artemiscult to CryptoMoonShots [link] [comments]

Crypto-Powered: 10 Points that Highlight the Magic of DeFi

Crypto-Powered: 10 Points that Highlight the Magic of DeFi
Most financial services that DeFi offers already exist in the real world. So why does it need to be on a blockchain?
https://reddit.com/link/hvwzrq/video/2vwr3t2tofc51/player
This is the final post of Crypto-Powered — a new series that examines what it means for Genesis Block to be a digital bank that’s powered by crypto, blockchain, and decentralized protocols.
Earlier in this series, we looked at some of the most promising DeFi use-cases already in the wild. We explored categories like lending, investment, insurance, stablecoins, payments, and more. And before that, we gave a primer on Bitcoin, Ethereum, and DeFi (decentralized finance).
So now that we’ve gone a little deeper down the crypto rabbit hole and we’ve done this whirlwind tour of DeFi, the natural next question is: why does any of it matter?
Most of the financial services offered by DeFi protocols already exist in the real world. So why does it need to be decentralized or on a blockchain? What’s the big deal?
Today we go through 10 points that highlight the magic of DeFi, and why it matters. And hopefully, it becomes clear just how big of an unfair advantage this technology is for Genesis Block. It’s our superpower as we compete against big banks and fintech unicorns. Alright, let’s dive in!

1. Global Pipes & Bridges

In traditional finance, each country or region has its own currency, infrastructure, and regulations. With blockchain technology and more specifically DeFi, the world is instantly connected. These decentralized protocols serve as the pipes and plumbing that plug the different economies together.
The internet completely broke down the walls & borders for information and news. DeFi is doing the same thing, but now for money, commerce, and financial markets. We’re now part of a global, digital marketplace that can finally transact with each other— there’s a common set of rules and protocols that transcend cultures, languages, and borders.
Jack Dorsey recently shared his own bullish insights on this future.

2. Efficient Markets & Liquidity

While the crypto ecosystem is still small when compared to traditional financial markets, it is growing quickly. As participation continues to mature, it will unlock enormous liquidity in the global markets.
Imagine the possibilities for mostly illiquid markets like real estate, collectibles, or private company stock.
This creates new opportunities for people. Imagine a farmer in Mexico helping a young family in Florida buy their first home. Or a coal worker in China participating in micro-finance loans in Africa. With liquid markets, they can easily swap in and out of investments depending on their financial situations. They won’t have to worry about long periods of no liquidity — which traditionally only favored the wealthy.
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Additionally, more liquid markets lead to great efficiencies. Defi, like the internet before, reduces transaction costs to the bare minimum — just the tech/infrastructure costs. The high cost of participation is removed.
This new, unlocked liquidity will lead to a much more efficient, vibrant, and healthy global economy.

3. Earning Opportunities & Value Creation

Basic crypto allows you to move and store value. With many of these DeFi protocols, you can actually create and earn value. You can share in the upside and success of these new micro-economies by earning tokens for your contributions.
https://i.redd.it/t0e61g3l8fc51.gif
For example, with DeFi protocols like Maker or UMA, you can be rewarded for voting and participating in high-level protocol decisions. With Synthetix, Compound, and Uniswap you can be rewarded for providing liquidity to the network. With Cosmos or Tezos (and soon Ethereum), you can be rewarded for helping keep the network stable and secure.
These new decentralized protocols and the work required to grow and cultivate them can be incredible earning opportunities for people all over the world. Value isn’t just moving, it’s being created and growing. This is an entirely new paradigm for work and earning income.
It’s actually really incredible to think about.

4. Equal Access & Economic Freedom

Because DeFi protocols are decentralized and on a blockchain, there are no gatekeepers. No government or bank or corporation can censor these protocols. Everyone has equal access.
You can be a user who needs financial services. You can be an entrepreneur who has a great idea and decide to launch your own protocol. You can be a worker who wants to earn income by helping and contributing to these new micro-economies. All options are available. Nobody can stop you.
People all over the world — whether from a favela in Rio or living under oppression by an authoritarian regime — can participate in this new, digital, permissionless global economy. This creates more economic freedom, which changes the world.

5. Composability & Interoperability

Many of these DeFi protocols leverage other DeFi protocols. They are like lego pieces — you can mix, match, connect, combine… and create an entirely new, exciting thing! This is called composability and it’s one of DeFi’s greatest strengths.
As Genesis Block decides to add additional features (more financial services), it becomes much easier because most of these protocols are modular and integrate nicely.
https://preview.redd.it/1btq6wdn8fc51.png?width=800&format=png&auto=webp&s=a17da95746da9dcf9611e68c74e5b489c9b1e6b6

6. Regulatory Windows

While cryptocurrency like Bitcoin is starting to become more regulated in developed countries, many of these newer decentralized technologies have not, like DeFi (financial services built on smart contracts).
This technology is at the bleeding-edge of innovation. It’s a new frontier that is being explored and developed at an incredibly fast pace. As a result, most governments around the world have not yet fleshed out how or if it will be regulated. For many countries around the world with fewer resources and less-developed regulatory infrastructure, it would be dizzying to even try.
https://reddit.com/link/hvwzrq/video/mkr89t9y8fc51/player
This creates a unique window of opportunity for builders and entrepreneurs. They won’t get bogged down by some of the outdated laws that slow them down in legacy finance.
For updates on crypto regulation in the US, CoinCenter is a great resource. So far, US regulatory focus has just been on cryptocurrency or securities more generally.

7. Decentralized Governance

The companies behind top DeFi protocols like Compound and Maker have relinquished their power and turned it over to the community. The community of token holders are now in charge of proposing, approving, and voting for decisions and updates in the protocol. This is called decentralized governance.
Of course, not all protocols are truly decentralized in their management or governance. But this is a trend we’re seeing more and more of. This more democratic style of governance creates a system of checks and balances, hopefully leading to a more stable, secure, and resilient protocol.
There’s a great post recently from Jesse Walden where he describes this as The Ownership Economy.
https://preview.redd.it/7gwjwjfp8fc51.png?width=800&format=png&auto=webp&s=203e6ceb16ceb7461a3d2da373330964e820d97e

8. User Interface Flexibility

Because these protocols are low-level, there can be a variety of product experiences, interfaces, and designs built around them. It’s similar to interacting with web APIs, except these are smart contracts on a blockchain.
If you don’t like the design of an app that interacts with a specific protocol, you can build your own.

9. Transparency & Auditability

These protocols are on the blockchain for anyone to inspect, analyze, and review. This transparency can create more trust and confidence for users. Anyone can discover a bug or whistle-blow malfeasance.
In the real world, bank customers typically have no idea what’s happening under the hood. It’s a complete black hole. In DeFi, the code is open-source. You can verify it’s doing exactly what they say it is.

10. Autonomous & Open 24/7

While the developers can sometimes update the protocol or fix a bug, these decentralized applications are not managed day to day by a company or its employees. These smart contracts run independently and automatically on the blockchain — enforced by policies and rules written in the code. DeFi protocols aren’t closed on weekends or bank holidays.
Can you imagine a bank that was run by robots and open 24/7. That’s DeFi.
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Hopefully, it’s becoming crystal clear that a crypto-native company — if it can substantially leverage these game-changing DeFi protocols — will win the consumer finance market. It will disrupt Wells Fargo, Goldman, and Bank of America. It will become the bank of the future.
Which crypto-native company is best positioned to win? Who can abstract away the complexity, deliver a world-class product experience, and take it to the world?
We obviously believe it’s us at Genesis Block. Time will tell.
I hope your imagination is running wild with possibilities like mine is. The potential of this tech is incredible. When you consider both the broad spectrum of financial use-cases that DeFi offers and the enormous value that is unlocked through these protocols (as outlined in today’s post), you can see just how big of an unfair advantage this is for Genesis Block.
As long as we’re building on this foundation, we’re out here playing 3d Chess while big banks & fintech companies are playing Checkers.
This is mic-drop weaponry. These are superpowers. This is what it means to be a digital bank that’s powered by blockchain technology and decentralized protocols. This is what it means to be crypto-powered.
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submitted by mickhagen to genesisblockhq [link] [comments]

Weekly Update: Parachute Crypto League, new assets on Voyager’s Interest Program, Fantom Lachesis now ABCI compatible, CyberFM + Blockchain Radio... – 1 May - 7 May'20

Weekly Update: Parachute Crypto League, new assets on Voyager’s Interest Program, Fantom Lachesis now ABCI compatible, CyberFM + Blockchain Radio... – 1 May - 7 May'20
Hi everyone, it’s been a difficult few weeks for everyone around the world with a constant barrage of sobering news – from COVID-19 to super cyclonic storms to George Floyd. I hope this update offers some much needed respite. Here’s your week at Parachute + partners (1 May - 7 May'20):

Congratulations to Foo for winning the inaugural Parachute Crypto League (which started last week). New leagues (including ones with $PAR prizes) were added this week. New Parachute league was added as well. How does it work? Click here to find out. Hope you got a chance to partake in the Tiproom giveaway event. Bose hosted a Football-themed trivia in TTR for some sweet $PAR rewards. Noice! Gamerboy’s random quiz for 1k $PAR per question got everyone scratching their heads. Unique and Victor’s trivias were pretty as well. Charlotte changed up the format of standard tiproom quizzes with a new one this week. Cap shared a sneak peek of what’s to come in the next few weeks. New $PAR use-case as well. Plus, latest digestives coming up. The 2FT ongoing theme continued with "videos featuring bands or artists whose name starts with the letters U, V, W, X or Y" this week. Check out all the cool music that got posted from Sebastian’s playlist. Epic gif Peace Love. Haha! Want to get some $PAR for staying in shape during the lockdown? Don’t forget to check out the TTR Pushups Contest. And if you were a fan of Jason’s Financial Fridays in 2gether, stay tuned for next week since it is coming back to Parachute. ParJar is currently at 32k+ users and 1.4M+ tips. Epic!
Jason shared a sneak peek into his computing setup. Pretty cool!
aXpire COO Matthew Markham wrote about the effect of legal billing software on law practice management. The monthly 200k $AXPR burn can be tracked here. 2gether CEO Ramon Ferraz routinely sends out emailers with project updates to all Founders (registered 2gether members). Click here to check out the latest. The crew also compiled a list of 7 books to read in order to learn about cryptocurrencies. Voyager introduced $XRP (Ripple), $EOS, $XLM (Stellar), $OMG (OmiseGO) and $ZRX (0x) to its Interest Program. Read more about it here. They celebrated it with a massive 5k $XRP giveaway along with an interest boost program. CEO Stephen Ehrlich sat down for an interview on Scott Melker’s (The Wolf of All Streets) podcast this week. Stephen was also interviewed by Jason Hartman (host of Creating Wealth Show). Switch released the first set of a 10 part series blog posts this week chronicling the story of the project starting with the beginning, move from Ethershift to Switch, launch of SwitchDex and the various Switch tokens. More to come next week. Fantom submitted a proposal to the MakerDAO community for adding $FTM as a collateral for $DAI. The latest technical update was published as well. The update covers news such as Fantom’s consensus protocol now being compatible to Application BlockChain Interface (ABCI). ABCI allows blockchain "transactions to be processed in any programming language". Saweet! Read more about ABCI compatibility here. The first Uptrennd Halvening ($1UP gets doubly difficult to earn) is expected to happen around the time of bitcoin halvening. Altcoin Buzz talked about it in their latest video. Huge congratulations on crossing 100k members! Uptrennd also announced a Citizenship program aimed at improving the overall quality of posts and comments by offering more giving power to higher ranked members. Jeff also sat down for interviews with Scott Cunningham for BeInCrypto and with Cash Alternative TV this week.
Amazing achievement, Uptrennd!
Following the launch of Pangaea Phase 3 last week, Harmony started an incentivised testnet staking program this week for delegators in partnership with Binance. The April #pow thread (i.e. project updates from April) can be found here. It was also summarised into an article. If you missed last week’s AMA, you can catch up from the transcript. Pangaea Phase 3 testing now has 1k+ validators and delegators. Noice! Part 2 from last week’s smart contract webinar was released. Harmony's Edgar Aroutiounian gave a presentation at Ready Layer One's online conference on BLS Aggregate Signatures. The project joined Indian state Telangana’s Blockchain District Accelerator program T-Block Accelerator as an official platform partner. Cointelegraph covered this news as well. The team also shared the latest updates through a community hangout. IntelliShare founder Raymond Xiong will appear for an AMA with CoinKeeper next week. Elections for the 6th Autonomous Committee started this week. GET Protocol shared their thoughts on how to reopen Dutch museums safely. COTI’s April rewards were distributed. Crypto analysis collective Trade Dog’s in-dept project review was released. Congratulations on getting the highest rating. If you have missed the events of April, the latest newsletter’s got your back. DoYourTip announced a partnership with InFocus Games to have their mascot Tipply as a playable character in the Pathfinders game in the form of an ERC1155 asset. The demo is live already. Have fun gaming! A DYT trading league on Crypto Leagues was started as well.
Harmony’s Pangaea P3 testing turned out to be a success with high participation throughout
Read all about Opacity’s April updates here. District0x’s latest weekly update report can be read here. The latest Hydro blogpost cleared some FAQs about prepaid cards. Community requests for the latest Sentivate update was closed this week. The update includes browser upgrade, devMode toggles etc. The code commits can be tracked on GitHub. Check out how stream and play works here. If you are worried about censorship resistance of the Universal Web, have a read of this tweet thread. Plus, a $BTC giveaway contest was launched by the crew as well. Chief Engagement Officer at OST, Simona Pop, spoke at the first ever Ethereal Virtual Summit this week in addition to speaking at Ready Layer One’s community event (as mentioned in the last update). The SelfKey team explored if there was a causal relationship between developer activity and market cap of a project. The data breach compilation article was updated. The crew will be hosting an AMA next week. The progress report for April was published. Now that Constellation’s Hypergraph Mainnet is live, read all about the current status and what next here. The team sat down for an AMA with KuCoin. The community-built balance-checker lets you look at mainnet wallet balances. The Yazom Mobile app got approved by Google Play. You can register for early access on the website. Blockchain Radio was integrated with CyberFM this week. This means all 17 featured shows and 23 radio hosts of Blockchain Radio will now be available on the CyberFM app.

And with that, we close for another week in the Parachuteverse. See you again with another update. Ciao.
submitted by abhijoysarkar to ParachuteToken [link] [comments]

Removed comments/submissions for /u/Michael12390

Hi Michael12390, you're not shadowbanned, but 15 of your most recent 200 comments/submissions were removed (either automatically or by human moderators).

Comments:

froaufr in imveryedgy on 24 May 20 (-70pts):
Retard how is this edgy. Yea it's a male. It was a male at 10 also
fr65h8c in okbuddyretard on 19 May 20 (6pts):
Goodbye! 🏳️‍🌈

Submissions:

gx8yk7 in stocks on 05 Jun 20 (1pts):
NASDAQ just hit ALL TIME HIGH!
gx3q60 in wallstreetbets on 05 Jun 20 (1pts):
May unemployment rate comes in at 13.3%, better than the 19.5% expected
gx3pxt in stocks on 05 Jun 20 (1pts):
May unemployment rate comes in at 13.3%, better than the 19.5% expected
gwm1x9 in options on 04 Jun 20 (1pts):
Why do ITM options have a higher theta than OTM?
gvzti5 in CapitalismVSocialism on 03 Jun 20 (1pts):
[Socialists] Should the Stock Market exist?
gsc26l in unpopularopinion on 28 May 20 (1pts):
Democrats and Republicans are both Retarded
gqi9r5 in appleswap on 25 May 20 (1pts):
[USA-NY] [W] iPhone X, XS Max
go68bk in LegacyJailbreak on 21 May 20 (1pts):
How to unjailbreak iOS 4.3.2 without updating?
gklej6 in Bitcoin on 16 May 20 (1pts):
Do any of you guys own commodities like gold and silver along with your Bitcoin?
gjpi97 in investing on 14 May 20 (5pts):
Sen. Richard Burr steps down as Senate intel chair during coronavirus stock sale probe
gj1y9o in investing on 13 May 20 (0pts):
David Tepper says this is the second-most overvalued stock market he's ever seen behind only '99
ggtn3a in UnpopularFacts on 10 May 20 (1pts):
Defensive gun uses by victims are at least as common as offensive uses by criminals
gfzd3n in investing on 08 May 20 (2pts):
Apple to reopen stores in US starting next week
I'm a bot. My home is at /CommentRemovalChecker - check if your posts have been removed! (How to use)
Help us expose and stand up to social media bias and censorship!
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

Having Trouble with Regtest Running Inside a Docker Container

Hello everyone. First of all, thanks in advance for any help.
I'm running a BTCPay server using BTCPay server docker. If I understand it correctly, it exposes the regtest Bitcoin core through a Tor network.
I followed the instructions on the [BTCPay Server docs to Connect Wasabi to BTCPay Server Full Node. Unfortunately, after following these instructions, the bottom-left corner of Wasabi Wallet still reads "Connecting...".
My logs.txt reveals:
2020-03-29 20:34:51 INFO Program (44) Wasabi GUI started (14879af3-85dd-42aa-9d41-674d87a5dd77). 2020-03-29 20:34:52 INFO Global (164) Config is successfully initialized. 2020-03-29 20:34:52 INFO TransactionStore (28) ConfirmedStore.InitializeAsync finished in 4 milliseconds. 2020-03-29 20:34:52 INFO TransactionStore (28) MempoolStore.InitializeAsync finished in 12 milliseconds. 2020-03-29 20:34:52 INFO Global (401) Fake AddressManager is initialized on the RegTest. 2020-03-29 20:34:52 INFO AllTransactionStore (27) InitializeAsync finished in 16 milliseconds. 2020-03-29 20:34:52 INFO IndexStore (43) InitializeAsync finished in 40 milliseconds. 2020-03-29 20:34:52 INFO BitcoinStore (39) InitializeAsync finished in 43 milliseconds. 2020-03-29 20:34:52 INFO TorProcessManager (249) Starting Tor monitor... 2020-03-29 20:34:52 INFO Global (230) TorProcessManager is initialized. 2020-03-29 20:34:52 INFO HostedServices (49) Started Software Update Checker. 2020-03-29 20:34:52 INFO TorProcessManager (66) Tor is already running. 2020-03-29 20:34:53 ERROR Global (328) System.Net.Internals.SocketExceptionFactory+ExtendedSocketException (61): Connection refused [::ffff:127.0.0.1]:18444 at System.Runtime.ExceptionServices.ExceptionDispatchInfo.Throw(Exception source) at System.Net.Sockets.Socket.EndConnect(IAsyncResult asyncResult) at NBitcoin.Protocol.Connectors.SocketExtensions.<>c.b__0_0(IAsyncResult iar) --- End of stack trace from previous location where exception was thrown --- at NBitcoin.Extensions.WithCancellation[T](Task`1 task, CancellationToken cancellationToken) at NBitcoin.Protocol.Connectors.DefaultEndpointConnector.ConnectSocket(Socket socket, EndPoint endpoint, NodeConnectionParameters nodeConnectionParameters, CancellationToken cancellationToken) at NBitcoin.Protocol.Node.ConnectAsync(Network network, EndPoint endpoint, NetworkAddress peer, NodeConnectionParameters parameters) at WalletWasabi.Gui.Global.InitializeNoWalletAsync() 2020-03-29 20:34:53 INFO Global (349) Start connecting to nodes... 2020-03-29 20:34:53 INFO Global (373) Start synchronizing filters... 2020-03-29 20:34:53 INFO MainWindow.xaml (74) UiConfig is successfully initialized. 2020-03-29 20:34:57 ERROR PeriodicRunner (72) System.NotSupportedException: Invalid StatusLine: ?. - System.IndexOutOfRangeException: Index was outside the bounds of the array. at WalletWasabi.Http.Models.StatusLine.Parse(String statusLineString) --- End of inner exception stack trace --- at WalletWasabi.Http.Models.StatusLine.Parse(String statusLineString) at System.Net.Http.HttpResponseMessageExtensions.CreateNewAsync(Stream responseStream, HttpMethod requestMethod) at WalletWasabi.TorSocks5.TorHttpClient.SendAsync(HttpRequestMessage request, CancellationToken cancel) at WalletWasabi.TorSocks5.TorHttpClient.SendAsync(HttpMethod method, String relativeUri, HttpContent content, CancellationToken cancel) at TorHttpClientExtensions.SendAndRetryAsync(ITorHttpClient client, HttpMethod method, HttpStatusCode expectedCode, String relativeUri, Int32 retry, HttpContent content, CancellationToken cancel) at WalletWasabi.WebClients.Wasabi.WasabiClient.GetVersionsAsync(CancellationToken cancel) at WalletWasabi.WebClients.Wasabi.WasabiClient.CheckUpdatesAsync(CancellationToken cancel) at WalletWasabi.Services.UpdateChecker.ActionAsync(CancellationToken cancel) at WalletWasabi.Bases.PeriodicRunner.ExecuteAsync(CancellationToken stoppingToken) 2020-03-29 20:35:01 ERROR WasabiSynchronizer (305) System.NotSupportedException: Invalid StatusLine: ?. - System.IndexOutOfRangeException: Index was outside the bounds of the array. at WalletWasabi.Http.Models.StatusLine.Parse(String statusLineString) --- End of inner exception stack trace --- at WalletWasabi.Http.Models.StatusLine.Parse(String statusLineString) at System.Net.Http.HttpResponseMessageExtensions.CreateNewAsync(Stream responseStream, HttpMethod requestMethod) at WalletWasabi.TorSocks5.TorHttpClient.SendAsync(HttpRequestMessage request, CancellationToken cancel) at WalletWasabi.TorSocks5.TorHttpClient.SendAsync(HttpMethod method, String relativeUri, HttpContent content, CancellationToken cancel) at TorHttpClientExtensions.SendAndRetryAsync(ITorHttpClient client, HttpMethod method, HttpStatusCode expectedCode, String relativeUri, Int32 retry, HttpContent content, CancellationToken cancel) at WalletWasabi.WebClients.Wasabi.WasabiClient.GetSynchronizeAsync(uint256 bestKnownBlockHash, Int32 count, Nullable`1 estimateMode, CancellationToken cancel) at System.Threading.Tasks.TaskExtensions.WithAwaitCancellationAsync[T](Task`1 me, CancellationToken cancel, Int32 waitForGracefulTerminationMilliseconds) at WalletWasabi.Services.WasabiSynchronizer.<>c__DisplayClass60_0.<b__0>d.MoveNext()
while my config.json is:
json { "Network": "RegTest", "MainNetBackendUriV3": "http://wasabiukrxmkdgve5kynjztuovbg43uxcbcxn6y2okcrsg7gb6jdmbad.onion/", "TestNetBackendUriV3": "http://testwnp3fugjln6vh5vpj7mvq3lkqqwjj3c2aafyu7laxz42kgwh2rad.onion/", "MainNetFallbackBackendUri": "https://wasabiwallet.io/", "TestNetFallbackBackendUri": "https://wasabiwallet.co/", "RegTestBackendUriV3": "http://oqaqivyaxctrp2gix5id4bbd7mav2xt5n4fzqsnwtrhtsmgjhg7sneqd.onion:8333/", "UseTor": true, "StartLocalBitcoinCoreOnStartup": false, "StopLocalBitcoinCoreOnShutdown": true, "LocalBitcoinCoreDataDir": "/Users/my-name-here/Library/Application Support/Bitcoin", "TorSocks5EndPoint": "127.0.0.1:9050", "MainNetBitcoinP2pEndPoint": "127.0.0.1:8333", "TestNetBitcoinP2pEndPoint": "127.0.0.1:18333", "RegTestBitcoinP2pEndPoint": "127.0.0.1:8333", "MixUntilAnonymitySet": 50, "PrivacyLevelSome": 2, "PrivacyLevelFine": 21, "PrivacyLevelStrong": 50, "DustThreshold": "0.00005" }
The environment in which bitcoind runs is here: https://gist.github.com/AryanJ-NYC/78c770f3e918d06e62301f1ebc6fba31 (I would copy and paste but quite long).
I'm 98% sure the error lies in this line of the log: 2020-03-29 20:34:53 ERROR Global (328) System.Net.Internals.SocketExceptionFactory+ExtendedSocketException (61): Connection refused [::ffff:127.0.0.1]:18444. However, I haven't a clue what port regtest normally runs on.
FWIW, main and testnet connect just fine (both nodes also running on my local machine).
submitted by TheWebDevCoach to WasabiWallet [link] [comments]

Removed comments/submissions for /u/Dimillian

Hi Dimillian, you're not shadowbanned, but 19 of your most recent 200 comments/submissions were removed (either automatically or by human moderators).

Comments:

fq5zze5 in AnimalCrossing on 10 May 20 (1pts):
I've been teasing new features for our open source application in the past few days, and the update is finally out!
You can download it here:...
fprndm7 in AnimalCrossing on 07 May 20 (1pts):
I've been working on this app for a while and it's now available on the App Store here:...
fltm8vs in acturnips on 29 Mar 20 (1pts):
I have like 4000 turnips to sell, so ready whenever you send dodo code, huge tips of course :)
f9yeu8t in science on 07 Dec 19 (0pts):
Too bad I didn’t had enough for Nobel prize.
f2v5c42 in Games on 07 Oct 19 (1pts):
The big loss is Diablo II. I hope Blizzard will update it.

Submissions:

gf0nr8 in AnimalCrossing on 07 May 20 (10pts):
A new app for iOS
dyiqsi in pokemon on 19 Nov 19 (75pts):
First shiny
7vdltk in Kings_Raid on 05 Feb 18 (1pts):
How to use/assign the last skill of my heroes?
7u8zjh in DissidiaFFOO on 31 Jan 18 (2pts):
iPhone X support?
7tsc0k in darksouls3 on 29 Jan 18 (0pts):
Ass stick + fire slap hand?
7slrm2 in Stellar on 24 Jan 18 (2pts):
My mistake on Stellar
7r1wp9 in BitcoinMarkets on 17 Jan 18 (4pts):
Morning TA
7qjd1i in Tronix on 15 Jan 18 (13pts):
I kinda randomly bough back my TRX few hours ago.
7pek9o in Tronix on 10 Jan 18 (14pts):
Those (like me) who sold, time to buy back.
7p8rke in Tronix on 09 Jan 18 (0pts):
The good news, and the bad news
7oa49x in Tronix on 05 Jan 18 (1pts):
This is not a DIP, this is BTC going up.
7m13fa in Stellar on 25 Dec 17 (1pts):
Will I get more for free?
7lxlld in Stellar on 24 Dec 17 (0pts):
Exchanged all my lumens
78u369 in askscience on 26 Oct 17 (1pts):
How can we be sure than a tool like CRISPR is the right tool?
I'm a bot. My home is at /CommentRemovalChecker - check if your posts have been removed! (How to use)
Help us expose and stand up to social media bias and censorship!
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

Testnet wallet won't load

Hi I am trying to use testnet but the wallet won't load. Tried like 10 times. tried with/without vpn. I am syncing from China.
Config file:
{
"Network": "TestNet",
"MainNetBackendUriV3": "http://wasabiukrxmkdgve5kynjztuovbg43uxcbcxn6y2okcrsg7gb6jdmbad.onion/",
"TestNetBackendUriV3": "http://testwnp3fugjln6vh5vpj7mvq3lkqqwjj3c2aafyu7laxz42kgwh2rad.onion/",
"MainNetFallbackBackendUri": "https://wasabiwallet.io/",
"TestNetFallbackBackendUri": "https://wasabiwallet.co/",
"RegTestBackendUriV3": "http://localhost:37127/",
"UseTor": false,
"StartLocalBitcoinCoreOnStartup": false,
"StopLocalBitcoinCoreOnShutdown": true,
"LocalBitcoinCoreDataDir": "/Users/jeff/Library/Application Support/Bitcoin",
"TorSocks5EndPoint": "127.0.0.1:9050",
"MainNetBitcoinP2pEndPoint": "127.0.0.1:8333",
"TestNetBitcoinP2pEndPoint": "127.0.0.1:18333",
"RegTestBitcoinP2pEndPoint": "127.0.0.1:18444",
"MixUntilAnonymitySet": 50,
"PrivacyLevelSome": 2,
"PrivacyLevelFine": 21,
"PrivacyLevelStrong": 50,
"DustThreshold": "0.00000001"
}
the log file is here:
2019-12-25 20:15:58 INFO Program (44) Wasabi GUI started (1d6f97d5-f50c-45aa-adb3-789af0cf8479).
2019-12-25 20:15:59 INFO Global (163) Config is successfully initialized.
2019-12-25 20:15:59 INFO TransactionStore (28) MempoolStore.InitializeAsync finished in 16 milliseconds.
2019-12-25 20:15:59 INFO TransactionStore (28) ConfirmedStore.InitializeAsync finished in 8 milliseconds.
2019-12-25 20:15:59 INFO AllTransactionStore (27) InitializeAsync finished in 26 milliseconds.
2019-12-25 20:15:59 INFO Global (225) TorProcessManager is initialized.
2019-12-25 20:15:59 INFO Global (399) Loaded AddressManager from `/Users/jeff/.walletwasabi/client/AddressManageAddressManagerTestNet.dat`.
2019-12-25 20:16:00 INFO IndexStore (43) InitializeAsync finished in 344 milliseconds.
2019-12-25 20:16:00 INFO BitcoinStore (39) InitializeAsync finished in 347 milliseconds.
2019-12-25 20:16:01 INFO HostedServices (49) Started Software Update Checker.
2019-12-25 20:16:01 INFO Global (334) Start connecting to nodes...
2019-12-25 20:16:01 INFO Global (356) Start synchronizing filters...
2019-12-25 20:16:01 INFO MainWindow.xaml (74) UiConfig is successfully initialized.
2019-12-25 20:16:09 INFO Global (703) Wallet loaded: Wallet_electrum.
2019-12-25 20:16:09 INFO Global (487) Start Chaumian CoinJoin service...
2019-12-25 20:16:09 INFO Global (489) Starting WalletService...
2019-12-25 20:16:09 INFO CoinJoinClient (141) CoinJoinClient is successfully initialized.
submitted by recoba8814 to WasabiWallet [link] [comments]

Removed comments/submissions for /u/colinleath

Hi colinleath, you're not shadowbanned, but 5 of your most recent 144 comments/submissions were removed (either automatically or by human moderators).

Comments:

fknklix in wallstreetbets on 16 Mar 20 (1pts):
Most of their profits growth last quarter came from Bitcoin fees.
e57zuei in vagabond on 01 Sep 18 (1pts):
You're in a country where if you walk around with a pack on your back, most people greet you with, "buen Camino!" I've found Spain the most relaxing place to vagabond. . . Though up north, like in...

Submissions:

fw3cdd in vagabond on 06 Apr 20 (8pts):
Mods, why did you remove meigomark 's post? Pasting it below. I see no rules violations
9c5h9h in anything on 01 Sep 18 (1pts):
Deleted from vagabond not sure why
7wxsgb in CipherBrowser on 12 Feb 18 (1pts):
mkr.market oasisdex.com etherbots.io not working for me
I'm a bot. My home is at /CommentRemovalChecker - check if your posts have been removed! (How to use)
Help us expose and stand up to social media bias and censorship!
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

Removed comments/submissions for /u/colinleath

Hi colinleath, you're not shadowbanned, but 5 of your most recent 142 comments/submissions were removed (either automatically or by human moderators).

Comments:

fknklix in wallstreetbets on 16 Mar 20 (1pts):
Most of their profits growth last quarter came from Bitcoin fees.
e57zuei in vagabond on 01 Sep 18 (1pts):
You're in a country where if you walk around with a pack on your back, most people greet you with, "buen Camino!" I've found Spain the most relaxing place to vagabond. . . Though up north, like in...

Submissions:

fw3cdd in vagabond on 06 Apr 20 (8pts):
Mods, why did you remove meigomark 's post? Pasting it below. I see no rules violations
9c5h9h in anything on 01 Sep 18 (1pts):
Deleted from vagabond not sure why
7wxsgb in CipherBrowser on 12 Feb 18 (1pts):
mkr.market oasisdex.com etherbots.io not working for me
I'm a bot. My home is at /CommentRemovalChecker - check if your posts have been removed! (How to use)
Help us expose and stand up to social media bias and censorship!
submitted by MarkdownShadowBot to CommentRemovalChecker [link] [comments]

[GUIDE] INTRO TO REPLICA WATCHES

So you’ve found your way to reptime. Congrats! It’s a great place to hopefully help you find what you’re looking for. There’s a lot of information and it all depends on how far down the rabbit hole you wanna go, but you can get anything from the crappy DHGate/AliExpress $30 fakes, all the way to a top tier replica for $300-500. You can even go further than how it came to you from China by “frankening” the piece – adding genuine and other modded components to help the watch achieve a look ‘even closer to gen’.
There are a few terms to understand in order to begin here. I don’t endorse them, sometimes I use them, but they are used frequently:
- Rep: Replica
- Gen: Genuine (referring to a genuine watch)
- QC: quality check – in reference to photos of watches
- W2C/WTC: Where to cop… aka where did you get that? Or Link?
- TD: Trusted Dealer (I’ll get more into that later)
- ZF, Noob, V6F, BP, MK, ARF, JF, etc: some of the top factories (I’ll also get more into that later)
- 2xAR xtal: a sapphire crystal coated with 2 layers of anti-reflective coating
- GL and RL - Green and Red light, referring to QC pictures being OK to accept or not.
Now for the ‘tiers’ of reps:
Bottom Tier
If you want cheap stuff, no or bad QC, but want to pay $150 or less, go to
DHGate
AliExpress
Taobao
I won’t tell you what to search or how to find it there. I don’t use it, the watches there barely resemble the watches they are trying to represent. It’s just not worth it unless you want to try it on a shoestring budget.
Top TieTrusted Dealer
Trusted dealers have earned their way to that status – trusted – because they have a large customer base and are willing to go through investigations through the forums that have a tough and active moderation team (RWI, RWG, etc) if a sale goes awry. I recommend if you are going to utilize a trusted dealer (which is the ONLY way as far as I’m concerned), make sure you have an active account on the forums and post there so that the moderation team can back your order. If you aren’t on the forum, and your order goes bad, no one is obligated to help you. Trusted dealers get not a ton of dough from your sale, but they almost all offer a customs guarantee - you will receive a replacement watch for free if customs seizes it. Be nice and remember that they are doing work for you and should be compensated for that time. The trusted dealer experience works differently for each one, but for the most part, the flow is as follows:
  1. Order (either through their website or through email). They are busy. Keep your emails short and to the point.
  2. Payment – some accept credit cards*, others primarily do Bitcoin, Western Union and Moneygram. Some accept some of the more convenient services like paypal, but you typically have to be an upstanding member of the community for over a year.
  3. Wait for QC. This can take 2-7 days depending on availability. Typical turnaround time is 2-3 days.
  4. Once QC is received, these are pictures of the actual watch you will get in the mail. Make sure you check it for major defects. Don’t get too picky, remember that these are $3-400 replicas of $2k-60k watches, made by people who probably make a bit more than minimum wage in some cases. If a TD rejects a watch too many times, the factory or dealer they buy from will begin to refuse sending new watches and just offer a refund. I won’t get into how to approve QC, because you should be doing research on the model you want and what you want to look out for.
  5. Once you approve QC, it will take 1-2 days for the TD to send it off to their courier. You can also ship via triangle shipping, which is a higher price, but recommended for European countries.
  6. While in transit, the package has to make it through customs in China and customs in your country of origin. If it gets seized in your country, you will get a letter. Don’t respond to the letter ever, just send that to your TD and they will order a new one for you as part of the guarantee. If it doesn’t get seized, it typically takes 5-7 days from TD to your front door
  7. Enjoy the watch. Get a $20 watch service kit from Amazon or whatever and resize the bracelet.
  8. DON’T TAKE IT TO A JEWELER AND PRETEND IT’S THE REAL THING. They will lie to your face and make you think they think it's real because its good customer service to make people feel good about themselves. They are trained to do that. Just some practical advice - take it or leave it - don't tell your friends and loved ones that these are the real thing. It's better to be honest. If you want to know the full reason, PM me, I'm happy to share why honesty is important.
  9. What if your watch is broken upon arrival? You MUST make a log in on the forums where the dealer is a trusted dealer, and post enough there in order to log a ticket to file a dispute. They will not help you if you create an account after your issue arises with a TD. It is their rules.
* Some have reported credit card numbers being stolen after using at TD websites. While the TDs are trusted, sometimes the agencies/companies they use to process credit card transactions aren’t trusted. They try their hardest, but there have been slip ups in the past. I’ve used my CC a couple times and haven’t had fraud.

Trusted dealer websites (these are the TDs from the forums - RepTime has no official Trusted Dealers!)
These change frequently due to the original companies wanting them taken down for understandable reasons. The websites are usually down for a night then back on a different domain the next day – they change probably 2-3 times per year. If you want an updated list (in case these domains get seized and I haven’t updated the post), go to the forums and see if they put a new one up. There are more than these TDs on the forums, too, this is not an exhaustive list. Also please note, reptime has no official Trusted Dealers, this is just a list I made to help others know some of the major ones out there that are vetted by the bigger forums. If you need help with any of the trusted dealers, you MUST be a member of the forum where they are listed as a TD in order to receive support.
UPDATED September 18, 2020
https://puretimewatch.io/ one of the top in the business
http://www.trustytime.asia has videos of nearly every watch, posts here occasionally u/trustyworld
https://www.mirotime.net TD with excellent service, posts frequently here u/mirotime
https://geektime.cc TD with Excellent service, posts frequently here u/geektimewatch
https://fatpanda.slickpic.com/gallery email to order, top notch QC
https://www.jtime.cc TD with excellent service
https://chazingtime06.co/
https://www.intime05.co/
https://www.pfclones.com/ Has vids for almost every watch too.
http://www.hontwatch.ru/
http://www.trb88.club/
https://kuvarsit08.com/ Active here on Reddit u/kuvarsitsteve
https://www.ts-stations.cn/ no longer a trusted dealer on RWI, but has a great site layout


Full list here (must be a member to see)
RWI: https://forum.replica-watch.info/forum/trusted-rep-dealers
RWG: https://www.rwg.bz/board/index.php?/topic/60-rwgs-trusted-dealers/
RepGeek: https://www.repgeek.com/trusted-watch-dealers/

Forums
https://www.replica-watch.info/ (the most popular)
http://www.rwg.bz/board/
http://www.repgeek.com/index.php
Please go to these and get a log in and check out the topics. They are insightful, and incredibly informative. There’s even a member sales section there too if you have enough posts.

Factories
There are certain popular factories to choose from and not all ‘good’ factories are the popular ones. Some of the smaller factories specialize in one or two watches but they are GOOD. The factories in total release probably 2-10 new models every week (granted lots are shitty). The way factories work, from what I’ve read, is that someone who wants to make a watch will order dials from a dial plant, cases from a manufacturer who specializes in case making, etc, and then receive ‘proofs’. Once they approve of the proofs, they will then order batches of 100-500 and manually assemble the pieces (dial, case, hands, date disc, movements, straps, buckles, etc). This is not easy stuff and usually they know what they are doing. When a watch is out of stock, it can be out of stock forever.
Major Factories (detail received from many postings around the internet, sometimes shamelessly copy/pasted):
Who makes the best Rolex sub? My opinion only, there are many different opinions out there. As of March 9, 2020.
  1. ZZF v2 3135
  2. Noob v10
  3. ARF v3 3135

Posting QC Photos

QC pics are the photos (and sometimes video) you get from your Trusted Dealer for the specific watch that you've ordered and will be shipped to you. While it is reasonable to ask for a new watch if there are significant defects in craftsmanship, there are also other reasons NOT to ask for a new watch that are a bit too 'picky' (i.e. microsopic misalignment of certain details that are OK in gen even). Something important to understand in this type of black market product with not a lot of QC oversight is that you cannot be too picky, and it can be tough for TDs to exchange products, meaning the loss is on their end if you do too many exchanges - just not a good experience for both the dealer and the customer.

  1. Post all albums provided by TD up front
  2. Write the following:
    1. Dealer name - Puretime, Jtime, Mirotime, etc
    2. Factory name - BP Factory, J Factory, ZZF, ZF, etc
    3. Model name - Submariner 116610LN v2
  3. Include the following as part of your evaluation prior to posting (if, for instance your watch does not have a bezel, put N/A):
    1. Index alignment - are the hour markers aligned? Call out specific ones if they bother you - like '6 o clock looks crooked'. This also includes logo alignment as well
    2. Date Wheel alignment - do the dates sit to one side or the other? Perfectly centered? Tip: some dates sit perfectly, and some don't on the same date disc sometimes.
    3. Bezel - is the pip centered? Any of the engravings look improperly filled?
    4. Solid End Links (SEL) - is there a gap between the bracelet's first link and the case lugs? How big is the gap?
    5. Hand alignment - do the hands look reasonably aligned? Chrono hands point to 12?
    6. Dial Printing - any defects? Crooked?
    7. Timegrapher numbers - Acceptable Rate: +/- 1 – 20 s/d; Acceptable Amplitude: 250 - 310; Acceptable Beat Error: 0.0 ms – 1.0 ms
    8. Anything else you see - big scratches on the case, movement jewels missing, etc.
Here is a copy/paste format that will need to be used from here on out:

  1. Dealer name:
  2. Factory name:
  3. Model name (& version number):
  4. Album Links:
  5. Index alignment:
  6. Dial Printing:
  7. Date Wheel alignment/printing:
  8. Hand Alignment:
  9. Bezel:
  10. Solid End Links (SELs):
  11. Timegrapher numbers:
  12. Anything else you notice:
Optional index alignment tool courtesy of u/Bandyciak https://qc-checker.herokuapp.com/
Again, this will be REQUIRED for all QC posts, and will be removed if they don't follow the guidelines.

Gold plating, wrap, and diamonds
Gold plating is getting better, but it seems to be a mixture of copper and some other materials that give the finish and coloring of gold. There is a tiny bit of gold in there though. If you get a scratch, don’t buff it out, just live with it. A scuff will show the stainless steel behind it if you get a significant enough ding. However, I’ve owned 4-5 rose gold plated watches and haven’t had issues with a single one and I don’t treat my watches too nicely.
Gold wrapping is more expensive but also much more thick. It will take a serious ding and still show gold. It has more gold % in it. You can buff it lightly with no issue.
Diamonds in a haute horology piece is typically done with a fine gemstone and perfectly placed using a gemsetting technique that isn’t done in the same manner as a replica would be done. If you need or want the look, then do it. Just know the stones are probably CZ, and will fall out easily, and will be inconsistently placed – which gives a poor brilliance when looking at it.
Movements: u/eposseeker wrote a great summary of the different types of movements out there (non-comprehensive): https://www.reddit.com/RepTime/comments/c889yu/movements_found_in_replica_watches/

BRAND GUIDES:

A fantastic guide on the Audemars Piguet Royal Oak replicas by u/N0tail_: https://www.reddit.com/RepTime/comments/esp4e1/ap_royal_oak_buying_guide/
Rolex Submariner guides:
  1. https://forum.replica-watch.info/forum/rolex-tudor-replicas/7807136-review-of-zzf-new-sub-116610-ln-and-comparison-vs-gen-arf-noob-and-nail-part-i
  2. https://forum.replica-watch.info/forum/rolex-tudor-replicas/8462580-zzf-submariner-v2-ln-vs-gen-pictorial-review
That about does it. Give an upvote, or don’t. If you think I should add a section, let me know.
submitted by MajorWilliams to RepTime [link] [comments]

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