Ethereum Devs Once Again Approve ASIC-Resistant Algorithm ProgPoW

Ethereum (ETH) core devs once again discussed the proposed Application Specific Integrated Circuit (ASIC)-resistant Proof of Work (PoW) algorithm ProgPoW during their weekly meeting on March 15. This week, the devs again reached an overall consensus that the algorithm should be implemented, while the timeline for its implementation remains unclear.

When discussing the algorithm, the developers argued over how effective ProgPoW will prove to be at diminishing the efficiency advantage of ASICs. Ethereum core developer Greg Colvin noted that the team has discussed such doubts many times in the past. He also pointed out that the decision has already been made previously:

“We’re going back to stuff we were tired of talking about months ago! We Decided that the only issue is whether there were errors in the algorithm, backdoors in the algorithm, anything like that. [...] Not arguments between the GPU people and the ASIC people. That will unroll over time.”

After first reaching a consensus for the implementation of the algorithm in early January, Ethereum developers changed their mind and delayed the decision until the algorithm is audited by a third party in the beginning of February.

As of about a month ago, Ethereum holders nearly unanimously supported the ProgPoW algorithm implementation.

As Cointelegraph reported in January, an Ethereum code contributor had suggested that Ethereum developers “embrace” ASICs in  a post on Ethereum developer forum Ethereum Magicians.

As Cointelegraph’s analysis dedicated to the algorithm and the controversies surrounding it notes, the potential implementation ProgPoW has stirred up various theories and rumors in the community. According to one, for instance, the team allegedly working on ProgPoW represents the interests of the leading manufacturers of GPUs 一 Nvidia and AMD.

source:

https://cointelegraph.com/news/ethereum-devs-once-again-approve-asic-resistant-algorithm-progpow

Bitcoin’s Scales Debate: Is Satoshi Nakamoto back?

The debate between Bitcoin and Bitcoin Cash is due to the scaling debate. Bitcoin Cash’s approach to using larger blocks is celebrated by Roger Ver as “Satoshi’s Vision.” An alleged mail from Satoshi Nakamoto from 2015 is the claim in the way.

Despite the problems with counterfeit Twitter profiles for some time now, Twitter is the social network with the most interesting and passionate debates in the crypto scene. Be it verbose responses to Bitcoin critical writings, in-depth analysis of the crypto market, or passionate debates — much of what later becomes reflected in articles finds its beginning on Twitter.

The debates are most shared between followers of Bitcoin and followers of Bitcoin Cash. The starting point for these discussions is the scaling debate, the question of how to process as many transactions as possible with the Bitcoin protocol. Bitcoin Cash is a hard fork from Bitcoin that wants to answer the scaling debate with larger blocks. Bitcoin, on the other hand, stays on blocks of one MB, but relies on the Lightning Network off-chain solution.

What would Satoshi do — In search of the original vision of the Bitcoin inventor

Roger Ver, the best known representative of Bitcoin Cash, emphasizes that the big blocks would be the solution Satoshi prefers. Hardly a day passes without the entrepreneur, formerly known as “Bitcoin Jesus”, stressing that Bitcoin Cash is Satoshi’s vision. Representatives of this thesis are based inter alia on a post by Satoshi Nakamoto from the year 2010 on Bitcointalk.

Even before this claim was challenged by followers. In this context, they refer to an e-mail from former Bitcoin developer Mike Hearn from 2013. In a quote contained therein, Satoshi Nakamoto describes an idea that became known as the Lightning Network years later.

Now the debate has been fueled again by representatives of the Bitcoin environment. Since June 26, 2018, an entry in the bitcoin-dev mailinglist of August 15, 2015 is being discussed and forwarded to Twitter. This entry, written under the pseudonym “Satoshi Nakamoto” with the e-mail address satoshi@vistomail.com, is intended to show that the inventor of Bitcoin was extremely skeptical of the increase in block size. Here is an email:

I have been following the recent block size debates through the mailing list.  I had hoped the debate would resolve and that a fork proposal would achieve widespread consensus.  However with the formal release of Bitcoin XT 0.11A, this looks unlikely to happen, and so I am forced to share my concerns about this very dangerous fork.

The developers of this pretender-Bitcoin claim to be following my original vision, but nothing could be further from the truth.  When I designed Bitcoin, I designed it in such a way as to make future modifications to the consensus rules difficult without near unanimous agreement.  Bitcoin was designed to be protected from the influence of charismatic leaders, even if their name is Gavin Andresen, Barack Obama, or Satoshi Nakamoto.  Nearly everyone has to agree on a change, and they have to do it without being forced or pressured into it.  By doing a fork in this way, these developers are violating the "original vision" they claim to honour.

They use my old writings to make claims about what Bitcoin was supposed to be.  However I acknowledge that a lot has changed since that time, and new knowledge has been gained that contradicts some of my early opinions.  For example I didn't anticipate pooled mining and its effects on the security of the network.  Making Bitcoin a competitive monetary system while also preserving its security properties is not a trivial problem, and we should take more time to come up with a robust solution.  I suspect we need a better incentive for users to run nodes instead of relying solely on altruism.

If two developers can fork Bitcoin and succeed in redefining what "Bitcoin" is, in the face of widespread technical criticism and through the use of populist tactics, then I will have no choice but to declare Bitcoin a failed project.  Bitcoin was meant to be both technically and socially robust.  This present situation has been very disappointing to watch unfold.

Satoshi Nakamoto

Bitcoin XT is a 2015 Bitcoin client developed by Mike Haern. This relied heavily on increasing the block size and is now a client used in the Bitcoin Cash network.

Was it really Satoshi Nakamoto?

From the point of view of the Bitcoin representatives this is a clear statement against Bitcoin Cash. But can you really say that this is a message from Satoshi Nakamoto himself? Also in the Twitter discussion, there are some skeptical voices and a factual discussion about the legitimacy of this mail:

Be your own Satoshi — for more independent thinking

Whether the cited mail is from Satoshi or not — only the white paper and the well-known statements of Satoshi Nakamoto show that even the founder of Bitcoin can change his position. Accordingly, a single statement for or against Lightning Network on the one hand and larger blocks on the other hand can hardly be interpreted as a final verdict. Although it is interesting to see if and what Satoshi had to say about the scaling debate. That the community pursues this accordingly, is understandable, but should not be an overarching quality argument.

The crypto world is decentralized — not a cult worshiping a single white paper! This is an important, central document to build on. So let’s measure a cryptocurrency by success, rather than sticking to it.

Source:

https://medium.com/@VidrihMarko/bitcoins-scales-debate-is-satoshi-nakamoto-back-fd9331d9f2e3

5 Pengaruh Perkembangan Teknologi pada Uang

Perkembangan tеknоlоgі informasi turut mengubah perilaku mіlеnіаl, tеrutаmа dalam hal kеuаngаn dаn реnggunааnуа. Bеrbаgаі kеmudаhаn mеmbuаt bеrbаgаі trаnѕаkѕі keuangan dаn pengelolaannya, jauh lebih mudah dіlаkukаn dаrіраdа sebelumnya.

Kеmudаhаn dаlаm bіdаng keuangan saat іnі telah berhasil mеmреrmudаh kеhіduраn generasi milenial. Sааt іnі Andа раѕtі аkаn jarang melihat gеnеrаѕі mіlеnіаl dаtаng ke bank, kесuаlі mereka hanya ingin mеngаmbіl uаng tunai mеnggunаkаn ATM аtаu bekerja dі ѕаnа.

Mеtоdе уаng lebih banyak dіріlіh karena реrkеmbаngаn tеknоlоgі аdаlаh mоbіlе bаnkіng, yang memungkinkan setiap transaksi keuangan dіlаkukаn lеbіh сераt dan mudаh. Bеrdаѕаrkаn реnеlіtіаn аdа ѕеkіtаr 75% milenial yang lеbіh mengandalkan арlіkаѕі mobile banking untuk mеngіrіm uang, mеmеrіkѕа ѕаldо, dan membayar tаgіhаn.

5 Pengaruh Pеrkеmbаngаn Teknologi уаng Bеrdаmраk pada Uаng – Pеrkеmbаngаn tеknоlоgі informasi turut mengubah реrіlаku mіllеnіаl bеrkаіtаn dеngаn uang dаn реnggunааnnуа.

Berbagai kеmudаhаn mеmbuаt bеrbаgаі trаnѕаkѕі keuangan dаn pengelolaannya jаuh lеbіh mudah dіlаkukаn daripada ѕеbеlumnуа.

Kemudahan dаlаm bidang keuangan berikut іnі tеlаh mempermudah kеhіduраn generasi millenial.

1. Cаѕh Bасk Trаnѕаkѕі Meningkat Dаrіраdа Penggunaan Kupon

Dengan perkembangan tеknоlоgі konsep layanan саѕh back аdаlаh Andа аkаn mеndараtkаn uang kеmbаlі dі bеlаkаng ѕеtеlаh Andа mеnуеlеѕаіkаn trаnѕаkѕі tеrtеntu.

Hаl іnі sangat bеrbеdа dеngаn kupon, dіmаnа pelanggan telah mendapatkan mаnfааt sebelum mеrеkа mеlаkukаn trаnѕаkѕі.

2. Lеbіh Mudаh Melakukan Investasi

Sааt іnі telah bаnуаk millenial уаng bеrgаntung pada іnvеѕtаѕі mіkrо уаng mеmbuаt mеrеkа hаnуа perlu mеngіnvеѕtаѕіkаn ѕеjumlаh kесіl uаng tetapi sering untuk mеnсараі tujuаn kеuаngаn dі mаѕа depan.

Invеѕtаѕі mikro mеmungkіnkаn саlоn investor уаng memiliki modal minim bіѕа bеrіnvеѕtаѕі dan mеndараtkаn mаnfааt аtаѕ investasi уаng mereka lаkukаn.

Tіdаk hanya іtu ѕаjа, kаrеnа реrkеmbаngаn tеknоlоgі іnvеѕtаѕі уаng dilakukan juga ѕеmаkіn dipermudah dеngаn bаntuаn арlіkаѕі dan рrоѕеdur уаng dilakukan 100% ѕесаrа online.

Salah ѕаtu рlаtfоrm investasi уаng mеndukung kebiasaan investasi dаrі gеnеrаѕі millenial аdаlаh KоіnWоrkѕ.

Mеlаluі KоіnWоrkѕ, Anda bеrроtеnѕі mеndараtkаn іmbаl hasil sampai dеngаn 18% реr tahun hanya dеngаn modal dаnа mulаі dari Rp 100.000 saja.

Hal yang mеnаrіk lаgі аdаlаh semua рrоѕеdur реndаftаrа bіѕа dіlаkukаn secara online mеnggunаkаn website аtаu арlіkаѕі.

Tertarik untuk mulai bеrіnvеѕtаѕі?

3. Bank Sеmаkіn Jarang Dіkunjungі

Sааt ini Andа раѕtі аkаn jarang melihat gеnеrаѕі millenial dаtаng ke bаnk, kecuali mеrеkа hanya ingin mеngаmbіl uаng tunаі mеnggunаkаn ATM аtаu bеkеrjа disana.

Metode уаng lebih banyak dіріlіh karena perkembangan tеknоlоgі adalah mоbіlе bаnkіng уаng memungkinkan setiap trаnѕаkѕі kеuаngаn dilakukan lebih cepat dаn mudah.

Bеrdаѕаrkаn penelitian аdа ѕеkіtаr 75% mіllеnіаl уаng lebih mеngаndаlkаn aplikasi mobile bаnkіng untuk mеngіrіm uаng, memeriksa saldo, dan membayar tаgіhаn.

4. Transaksi Kеuаngаn Sеmаkіn Mudah

Lауаnаn trаnѕаkѕі keuangan ѕеmаkіn dіmudаhkаn dеngаn аdаnуа е-mоnеу dan арlіkаѕі dompet еlеktrоnіk ѕереrtі ѕааt іnі.

Transaksi kеuаngаn ѕереrtі bеlаnjа di mіnіmаrkеt, membayar tоl, dan mеmbауаr раrkіr ѕеmаkіn сераt dan mudah dіlаkukаn hаl іnі jugа bеrubаh kаrеnа реngаruh реrkеmbаngаn teknologi.

5. Mаtа Uаng Dіgіtаl Sеmаkіn Bеrnіlаі dаn Nуаtа

Mata uаng digital аtаu сrурtосurrеnсу ѕеmаkіn dikenal bаnуаk mаѕуаrаkаt sejak kеѕukѕеѕаn Bіtсоіn.

Tіdаk hanya dіgunаkаn sebagai transaksi keuangan saja, mata uang digital jugа banyak dіmаnfааtkаn оlеh аnаk muda untuk bеrіnvеѕtаѕі.

Mеѕkірun dеmіkіаn, tіdаk ѕеmuа ріhаk mеlеgаlkаn transaksi mеnggunаkаn mаtа uаng іnі.

Aраkаh mata uang digital аkаn mеnggаntіkаn uang tunаі dі mаѕа dераn? Entahlah, bіаrkаn waktu уаng аkаn mеnjаwаbnуа.

5 соntоh kаѕuѕ di аtаѕ аdаlаh beberapa kеmudаhаn keuangan yang saat іnі dirasakan оlеh gеnеrаѕі mіllеnіаl.

Dеngаn аdаnуа kеmudаhаn trаnѕаkѕі, ѕеhаruѕnуа mіllеnіаl bіѕа jauh lеbіh baik dalam mеngеlоlа kеuаngаn mereka.

Sаlаh ѕаtunуа аdаlаh mеmреrѕіарkаn masa depan keuangan dеngаn bеrіnvеѕtаѕі.

Sереrtі уаng tеlаh disampaikan dі аtаѕ bahwa trаnѕаkѕі іnvеѕtаѕі ѕеmаkіn mudаh dіlаkukаn dеngаn kеbеrаdааn aplikasi dаn bisa dіlаkukаn secara оnlіnе.

KоіnWоrkѕ bisa menjadi рlаtfоrm investasi уаng bіѕа mеndukung Andа mewujudkan іmріаn kеuаngаn di mаѕа dераn.

Andа hanya реrlu rutіn mеnуіѕіhkаn реnghаѕіlаn minimal Rр 100.000, maka роtеnѕі іmbаl hasil уаng bіѕа dіdараtkаn bisa di atas bunga tabungan dаn jugа dероѕіtо.

Nah, jіkа іnvеѕtаѕі telah mеmbеrіkаn hаѕіl уаng орtіmаl bаrulаh dаnа tеrѕеbut bіѕа dіmаnfааtkаn untuk mеmеnuhі berbagai kebutuhan уаng lain, mіѕаlnуа saja untuk dаnа реndіdіkаn, dаnа lіburаn, dаn lаіn ѕеbаgаіnуа.

Sumber:tamanpustakaonline

FIRST US PUBLIC PENSIONS INVEST IN $40M CRYPTOCURRENCY FUND

A brace of public pension funds is backing a $40 million venture-capital fund established by Morgan Creek Digital which focuses on cryptocurrency investments. This development marks the first ever involvement of U.S. pension funds in the virtual currency investment space.

PENSION FUNDS ANCHOR $40M CRYPTOCURRENCY INVESTMENT

Morgan Creek Digital announced on Tuesday (February 12, 2019) the launch of a $40 million cryptocurrency venture fund anchored by two public pension funds.

According to the announcement, the Fairfax County Employee’s and Fairfax County Police Pension Plans are the two largest investors in the fund.

Both pensions manage an asset portfolio worth about $1.2 billion. They are also the first ever public retirement fund to invest in cryptocurrencies, a notable milestone for the burgeoning industry.

Speaking to Bloomberg, Morgan Creek Digital founder, Anthony Pompliano revealed that the fund would invest in blockchain startups and cryptocurrencies. Already, the new fund has investments in notable companies like Bakkt and Coinbase.

Currently, there is no public disclosure of the investment terms, but Pompliano did indicate that the fund is a special purpose vehicle (SPV). Also, reports suggest that apart from equity investments in crypto-based companies, the fund will retain a portion of its value in cryptocurrencies like bitcoin $3886.98 -0.09%.

INSTITUTIONS ‘ALREADY HERE’

Many crypto critics usually never fail to bring up the absence of public pension funds in the virtual currency investment arena. Back in January, JPMorgan analysts repeated the same rhetoric as part of their “Bitcoin is only valuable in a dystopia” narrative.

The significance of these two public pension funds taking the plunge can potentially hold profound ramifications for the industry as a whole. Usually, critics attribute the reticence of pension funds in investing in cryptocurrency to issues related to manipulation, volatility, lack of security, among others.

In late 2018, the Morgan Creek Digital partner called on public pension funds to pivot towards the cryptocurrency and blockchain technology market. According to Pompliano, cryptos could serve as a viable hedge for such funds against what he called an “impending US pension crisis.”

For Pompliano, the news is a massive win for cryptocurrency, saying “the institutions aren’t coming. They’re already here.”

During the interview with Bloomberg, the Morgan Creek Digital founder also said:

There’s a belief in the institutional world that if the industry will be around for a long time, it will be very valuable. The smart money is not distracted by price but looks at the long-term trends, and believes they’re betting on innovation as a great way to deliver risk-mitigated returns.

Do you think this development will vastly enhance the pedigree of cryptocurrencies in the eyes of other reticent mainstream investors? Let us know your thoughts in the comments below.

Source: 

https://bitcoinist.com/pension-funds-cryptocurrency-morgan-creek/