VOTING POWER100.00%
DOWNVOTE POWER100.00%
RESOURCE CREDITS100.00%
REPUTATION PROGRESS0.00%
Net Worth
0.037USD
STEEM
0.000STEEM
SBD
0.001SBD
Effective Power
5.010SP
├── Own SP
0.634SP
└── Incoming DelegationsDeleg
+4.375SP
Detailed Balance
| STEEM | ||
| balance | 0.000STEEM | STEEM |
| market_balance | 0.000STEEM | STEEM |
| savings_balance | 0.000STEEM | STEEM |
| reward_steem_balance | 0.000STEEM | STEEM |
| STEEM POWER | ||
| Own SP | 0.634SP | SP |
| Delegated Out | 0.000SP | SP |
| Delegation In | 4.375SP | SP |
| Effective Power | 5.010SP | SP |
| Reward SP (pending) | 0.000SP | SP |
| SBD | ||
| sbd_balance | 0.001SBD | SBD |
| sbd_conversions | 0.000SBD | SBD |
| sbd_market_balance | 0.000SBD | SBD |
| savings_sbd_balance | 0.000SBD | SBD |
| reward_sbd_balance | 0.000SBD | SBD |
{
"balance": "0.000 STEEM",
"savings_balance": "0.000 STEEM",
"reward_steem_balance": "0.000 STEEM",
"vesting_shares": "1030.824410 VESTS",
"delegated_vesting_shares": "0.000000 VESTS",
"received_vesting_shares": "7112.835396 VESTS",
"sbd_balance": "0.001 SBD",
"savings_sbd_balance": "0.000 SBD",
"reward_sbd_balance": "0.000 SBD",
"conversions": []
}Account Info
| name | arumugam |
| id | 352246 |
| rank | 899,060 |
| reputation | 174238809 |
| created | 2017-09-04T17:03:54 |
| recovery_account | steem |
| proxy | None |
| post_count | 13 |
| comment_count | 0 |
| lifetime_vote_count | 0 |
| witnesses_voted_for | 0 |
| last_post | 2017-11-16T04:57:33 |
| last_root_post | 2017-11-16T04:57:33 |
| last_vote_time | 2017-09-14T02:45:15 |
| proxied_vsf_votes | 0, 0, 0, 0 |
| can_vote | 1 |
| voting_power | 0 |
| delayed_votes | 0 |
| balance | 0.000 STEEM |
| savings_balance | 0.000 STEEM |
| sbd_balance | 0.001 SBD |
| savings_sbd_balance | 0.000 SBD |
| vesting_shares | 1030.824410 VESTS |
| delegated_vesting_shares | 0.000000 VESTS |
| received_vesting_shares | 7112.835396 VESTS |
| reward_vesting_balance | 0.000000 VESTS |
| vesting_balance | 0.000 STEEM |
| vesting_withdraw_rate | 0.000000 VESTS |
| next_vesting_withdrawal | 1969-12-31T23:59:59 |
| withdrawn | 0 |
| to_withdraw | 0 |
| withdraw_routes | 0 |
| savings_withdraw_requests | 0 |
| last_account_recovery | 1970-01-01T00:00:00 |
| reset_account | null |
| last_owner_update | 2017-09-04T17:04:54 |
| last_account_update | 2017-09-04T17:04:54 |
| mined | No |
| sbd_seconds | 0 |
| sbd_last_interest_payment | 1970-01-01T00:00:00 |
| savings_sbd_last_interest_payment | 1970-01-01T00:00:00 |
{
"active": {
"account_auths": [],
"key_auths": [
[
"STM5FZb4XU7pXJ4uNZUeQ7syEPyRQgLRJ1xgMD5A6jDHYAZNhEKpb",
1
]
],
"weight_threshold": 1
},
"balance": "0.000 STEEM",
"can_vote": true,
"comment_count": 0,
"created": "2017-09-04T17:03:54",
"curation_rewards": 0,
"delegated_vesting_shares": "0.000000 VESTS",
"downvote_manabar": {
"current_mana": 2035914951,
"last_update_time": 1779053877
},
"guest_bloggers": [],
"id": 352246,
"json_metadata": "",
"last_account_recovery": "1970-01-01T00:00:00",
"last_account_update": "2017-09-04T17:04:54",
"last_owner_update": "2017-09-04T17:04:54",
"last_post": "2017-11-16T04:57:33",
"last_root_post": "2017-11-16T04:57:33",
"last_vote_time": "2017-09-14T02:45:15",
"lifetime_vote_count": 0,
"market_history": [],
"memo_key": "STM8Ati3PzTD8C8wNLA5mmgWqBp6FyeGkpKve2uXYa5b1KzS8igmh",
"mined": false,
"name": "arumugam",
"next_vesting_withdrawal": "1969-12-31T23:59:59",
"other_history": [],
"owner": {
"account_auths": [],
"key_auths": [
[
"STM5sAMdxP6TtehxcemfYUXkSHc5nQya4dV1ULpUXeCqrFK86ND5h",
1
]
],
"weight_threshold": 1
},
"pending_claimed_accounts": 0,
"post_bandwidth": 0,
"post_count": 13,
"post_history": [],
"posting": {
"account_auths": [],
"key_auths": [
[
"STM6yCCrw3X448gFRVfnTRY5LQR2xVRBSAyTp5NDLP6H5ADjxcKES",
1
]
],
"weight_threshold": 1
},
"posting_json_metadata": "",
"posting_rewards": 0,
"proxied_vsf_votes": [
0,
0,
0,
0
],
"proxy": "",
"received_vesting_shares": "7112.835396 VESTS",
"recovery_account": "steem",
"reputation": 174238809,
"reset_account": "null",
"reward_sbd_balance": "0.000 SBD",
"reward_steem_balance": "0.000 STEEM",
"reward_vesting_balance": "0.000000 VESTS",
"reward_vesting_steem": "0.000 STEEM",
"savings_balance": "0.000 STEEM",
"savings_sbd_balance": "0.000 SBD",
"savings_sbd_last_interest_payment": "1970-01-01T00:00:00",
"savings_sbd_seconds": "0",
"savings_sbd_seconds_last_update": "1970-01-01T00:00:00",
"savings_withdraw_requests": 0,
"sbd_balance": "0.001 SBD",
"sbd_last_interest_payment": "1970-01-01T00:00:00",
"sbd_seconds": "0",
"sbd_seconds_last_update": "2018-03-17T22:44:03",
"tags_usage": [],
"to_withdraw": 0,
"transfer_history": [],
"vesting_balance": "0.000 STEEM",
"vesting_shares": "1030.824410 VESTS",
"vesting_withdraw_rate": "0.000000 VESTS",
"vote_history": [],
"voting_manabar": {
"current_mana": "8143659806",
"last_update_time": 1779053877
},
"voting_power": 0,
"withdraw_routes": 0,
"withdrawn": 0,
"witness_votes": [],
"witnesses_voted_for": 0,
"rank": 899060
}Withdraw Routes
| Incoming | Outgoing |
|---|---|
Empty | Empty |
{
"incoming": [],
"outgoing": []
}From Date
To Date
2026/05/17 21:37:57
2026/05/17 21:37:57
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 7112.835396 VESTS |
| Transaction Info | Block #106140317/Trx 0784f91789b527beb85cc4f9c2666fbbc77e8661 |
View Raw JSON Data
{
"block": 106140317,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "7112.835396 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2026-05-17T21:37:57",
"trx_id": "0784f91789b527beb85cc4f9c2666fbbc77e8661",
"trx_in_block": 0,
"virtual_op": 0
}2026/05/11 18:20:57
2026/05/11 18:20:57
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 4400.624991 VESTS |
| Transaction Info | Block #105964355/Trx 42a8acb7d90f641732b35f6e6a5b923998d52818 |
View Raw JSON Data
{
"block": 105964355,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "4400.624991 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2026-05-11T18:20:57",
"trx_id": "42a8acb7d90f641732b35f6e6a5b923998d52818",
"trx_in_block": 2,
"virtual_op": 0
}2026/04/25 21:02:57
2026/04/25 21:02:57
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 7125.351152 VESTS |
| Transaction Info | Block #105508043/Trx 13b76e955aca8983f738f1070e9a49dafc31ec37 |
View Raw JSON Data
{
"block": 105508043,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "7125.351152 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2026-04-25T21:02:57",
"trx_id": "13b76e955aca8983f738f1070e9a49dafc31ec37",
"trx_in_block": 0,
"virtual_op": 0
}2026/01/23 00:51:30
2026/01/23 00:51:30
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 4442.171810 VESTS |
| Transaction Info | Block #102843499/Trx 09b40b2f8059314a61db4c51397bb6ffcdef4935 |
View Raw JSON Data
{
"block": 102843499,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "4442.171810 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2026-01-23T00:51:30",
"trx_id": "09b40b2f8059314a61db4c51397bb6ffcdef4935",
"trx_in_block": 2,
"virtual_op": 0
}2024/12/16 20:11:33
2024/12/16 20:11:33
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 4606.391007 VESTS |
| Transaction Info | Block #91289922/Trx bb8ea2b3ce555d8747d974453fd882fb9b7a8b81 |
View Raw JSON Data
{
"block": 91289922,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "4606.391007 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2024-12-16T20:11:33",
"trx_id": "bb8ea2b3ce555d8747d974453fd882fb9b7a8b81",
"trx_in_block": 1,
"virtual_op": 0
}2023/11/13 11:57:45
2023/11/13 11:57:45
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 4775.524539 VESTS |
| Transaction Info | Block #79844206/Trx 49aea679b09e356d8169cf422cb24fc22932a980 |
View Raw JSON Data
{
"block": 79844206,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "4775.524539 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2023-11-13T11:57:45",
"trx_id": "49aea679b09e356d8169cf422cb24fc22932a980",
"trx_in_block": 9,
"virtual_op": 0
}2023/09/21 18:46:15
2023/09/21 18:46:15
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 7712.803325 VESTS |
| Transaction Info | Block #78344173/Trx fc5bab5f50ab33342877a109806a6e231b925653 |
View Raw JSON Data
{
"block": 78344173,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "7712.803325 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2023-09-21T18:46:15",
"trx_id": "fc5bab5f50ab33342877a109806a6e231b925653",
"trx_in_block": 3,
"virtual_op": 0
}2022/11/03 08:55:03
2022/11/03 08:55:03
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 7934.484763 VESTS |
| Transaction Info | Block #69109931/Trx 75dfa48fecb070479e4e1da571c9fa87841354d6 |
View Raw JSON Data
{
"block": 69109931,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "7934.484763 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2022-11-03T08:55:03",
"trx_id": "75dfa48fecb070479e4e1da571c9fa87841354d6",
"trx_in_block": 1,
"virtual_op": 0
}2022/01/17 08:24:57
2022/01/17 08:24:57
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 8155.017994 VESTS |
| Transaction Info | Block #60806386/Trx c43cd40013c6b5eb2d3064e1f13828e4601b088e |
View Raw JSON Data
{
"block": 60806386,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "8155.017994 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2022-01-17T08:24:57",
"trx_id": "c43cd40013c6b5eb2d3064e1f13828e4601b088e",
"trx_in_block": 6,
"virtual_op": 0
}2021/06/13 22:26:39
2021/06/13 22:26:39
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 8338.786652 VESTS |
| Transaction Info | Block #54604902/Trx cac7dd84e8b66539bb1fec108263fd74fa884a42 |
View Raw JSON Data
{
"block": 54604902,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "8338.786652 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2021-06-13T22:26:39",
"trx_id": "cac7dd84e8b66539bb1fec108263fd74fa884a42",
"trx_in_block": 2,
"virtual_op": 0
}2020/12/11 08:49:00
2020/12/11 08:49:00
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 8526.208626 VESTS |
| Transaction Info | Block #49352460/Trx d2b730b4e10172839e325c923b1a170f391cae98 |
View Raw JSON Data
{
"block": 49352460,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "8526.208626 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-12-11T08:49:00",
"trx_id": "d2b730b4e10172839e325c923b1a170f391cae98",
"trx_in_block": 7,
"virtual_op": 0
}2020/12/06 02:26:33
2020/12/06 02:26:33
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 1912.543513 VESTS |
| Transaction Info | Block #49204031/Trx ae5db87920fd3082001fa6286c0421d73761c7b7 |
View Raw JSON Data
{
"block": 49204031,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "1912.543513 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-12-06T02:26:33",
"trx_id": "ae5db87920fd3082001fa6286c0421d73761c7b7",
"trx_in_block": 1,
"virtual_op": 0
}2020/11/25 16:16:30
2020/11/25 16:16:30
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 8543.335243 VESTS |
| Transaction Info | Block #48908250/Trx 59cee14215114c0350982887bb667a55625ef47f |
View Raw JSON Data
{
"block": 48908250,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "8543.335243 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-11-25T16:16:30",
"trx_id": "59cee14215114c0350982887bb667a55625ef47f",
"trx_in_block": 5,
"virtual_op": 0
}2020/05/09 03:21:21
2020/05/09 03:21:21
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 8735.221839 VESTS |
| Transaction Info | Block #43214241/Trx f31e02b99f1cd69186b1829934c8c8c2fca31aac |
View Raw JSON Data
{
"block": 43214241,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "8735.221839 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-05-09T03:21:21",
"trx_id": "f31e02b99f1cd69186b1829934c8c8c2fca31aac",
"trx_in_block": 11,
"virtual_op": 0
}2020/05/08 06:36:09
2020/05/08 06:36:09
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 1953.311140 VESTS |
| Transaction Info | Block #43189920/Trx 5349c8595a9d48ae3cf450f6bd2970c1966b6482 |
View Raw JSON Data
{
"block": 43189920,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "1953.311140 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-05-08T06:36:09",
"trx_id": "5349c8595a9d48ae3cf450f6bd2970c1966b6482",
"trx_in_block": 13,
"virtual_op": 0
}2020/04/15 20:06:06
2020/04/15 20:06:06
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 8748.199258 VESTS |
| Transaction Info | Block #42560801/Trx a41b3711f858ff3eb3b7a170f077b085cad4bfc7 |
View Raw JSON Data
{
"block": 42560801,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "8748.199258 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2020-04-15T20:06:06",
"trx_id": "a41b3711f858ff3eb3b7a170f077b085cad4bfc7",
"trx_in_block": 6,
"virtual_op": 0
}2019/09/04 18:56:27
2019/09/04 18:56:27
| author | steemitboard |
| body | Congratulations @arumugam! You received a personal award! <table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@arumugam/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table> <sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@arumugam) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=arumugam)_</sub> ###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes! |
| json metadata | {"image":["https://steemitboard.com/img/notify.png"]} |
| parent author | arumugam |
| parent permlink | 5jtuwc-e-bitcoin |
| permlink | steemitboard-notify-arumugam-20190904t185626000z |
| title | |
| Transaction Info | Block #36135008/Trx f70c0eeca78fb81b214d1b11c776481714cd96fb |
View Raw JSON Data
{
"block": 36135008,
"op": [
"comment",
{
"author": "steemitboard",
"body": "Congratulations @arumugam! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@arumugam/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@arumugam) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=arumugam)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
"json_metadata": "{\"image\":[\"https://steemitboard.com/img/notify.png\"]}",
"parent_author": "arumugam",
"parent_permlink": "5jtuwc-e-bitcoin",
"permlink": "steemitboard-notify-arumugam-20190904t185626000z",
"title": ""
}
],
"op_in_trx": 0,
"timestamp": "2019-09-04T18:56:27",
"trx_id": "f70c0eeca78fb81b214d1b11c776481714cd96fb",
"trx_in_block": 5,
"virtual_op": 0
}2019/05/12 13:20:48
2019/05/12 13:20:48
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 8943.822063 VESTS |
| Transaction Info | Block #32843619/Trx 07b7215dfbea8d8c6323f23c17d1581f078c944f |
View Raw JSON Data
{
"block": 32843619,
"op": [
"delegate_vesting_shares",
{
"delegatee": "arumugam",
"delegator": "steem",
"vesting_shares": "8943.822063 VESTS"
}
],
"op_in_trx": 0,
"timestamp": "2019-05-12T13:20:48",
"trx_id": "07b7215dfbea8d8c6323f23c17d1581f078c944f",
"trx_in_block": 6,
"virtual_op": 0
}2018/09/04 19:20:54
2018/09/04 19:20:54
| author | steemitboard |
| body | Congratulations @arumugam! You have received a personal award! [](http://steemitboard.com/@arumugam) 1 Year on Steemit <sub>_Click on the badge to view your Board of Honor._</sub> **Do not miss the last post from @steemitboard:** [SteemFest³ - SteemitBoard support the Travel Reimbursement Fund.](https://steemit.com/steemfest/@steemitboard/steemfest-steemitboard-support-the-travel-reimbursement-fund) > Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**! |
| json metadata | {"image":["https://steemitboard.com/img/notify.png"]} |
| parent author | arumugam |
| parent permlink | 5jtuwc-e-bitcoin |
| permlink | steemitboard-notify-arumugam-20180904t192056000z |
| title | |
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"body": "Congratulations @arumugam! You have received a personal award!\n\n[](http://steemitboard.com/@arumugam) 1 Year on Steemit\n<sub>_Click on the badge to view your Board of Honor._</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n[SteemFest³ - SteemitBoard support the Travel Reimbursement Fund.](https://steemit.com/steemfest/@steemitboard/steemfest-steemitboard-support-the-travel-reimbursement-fund)\n\n> Do you like [SteemitBoard's project](https://steemit.com/@steemitboard)? Then **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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}2018/05/16 20:06:33
2018/05/16 20:06:33
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 9143.374498 VESTS |
| Transaction Info | Block #22489632/Trx 10e78644df5d28d107b9554aa0927b5af208c488 |
View Raw JSON Data
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}2018/03/17 22:44:03
2018/03/17 22:44:03
| amount | 0.001 SBD |
| from | alesno1 |
| memo | LIMITED OFFER! Send 1 SBD or STEEM to @steempromos with post URL in Memo and get 4 SBD upvote on your post. Pre-service-launch PROMOTION is valid till 1st april only so hurry up! |
| to | arumugam |
| Transaction Info | Block #20766576/Trx dcc8b35c1119f59810ad2313e9b8905fc3f474a7 |
View Raw JSON Data
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}2018/02/22 12:16:12
2018/02/22 12:16:12
| delegatee | arumugam |
| delegator | steem |
| vesting shares | 29625.299499 VESTS |
| Transaction Info | Block #20092352/Trx b14eed5142eae084e2bcab4082f354f3774c9fa2 |
View Raw JSON Data
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}mindsportsioupvoted (1.00%) @arumugam / 5jtuwc-e-bitcoin2017/11/30 00:28:30
mindsportsioupvoted (1.00%) @arumugam / 5jtuwc-e-bitcoin
2017/11/30 00:28:30
| author | arumugam |
| permlink | 5jtuwc-e-bitcoin |
| voter | mindsportsio |
| weight | 100 (1.00%) |
| Transaction Info | Block #17660930/Trx c947706725a14469b018e1dbcafb2a4096ffa978 |
View Raw JSON Data
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}mindsportsioupvoted (1.00%) @arumugam / 5jtuwc-e-bitcoin2017/11/30 00:28:27
mindsportsioupvoted (1.00%) @arumugam / 5jtuwc-e-bitcoin
2017/11/30 00:28:27
| author | arumugam |
| permlink | 5jtuwc-e-bitcoin |
| voter | mindsportsio |
| weight | 100 (1.00%) |
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mindsportsioupvoted (1.00%) @arumugam / 5jtuwc-e-bitcoin
2017/11/30 00:28:27
| author | arumugam |
| permlink | 5jtuwc-e-bitcoin |
| voter | mindsportsio |
| weight | 100 (1.00%) |
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}mindsportsioupvoted (1.00%) @arumugam / e-bitcoin2017/11/30 00:10:24
mindsportsioupvoted (1.00%) @arumugam / e-bitcoin
2017/11/30 00:10:24
| author | arumugam |
| permlink | e-bitcoin |
| voter | mindsportsio |
| weight | 100 (1.00%) |
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mindsportsioupvoted (1.00%) @arumugam / e-bitcoin
2017/11/30 00:10:24
| author | arumugam |
| permlink | e-bitcoin |
| voter | mindsportsio |
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}mindsportsioupvoted (1.00%) @arumugam / e-bitcoin2017/11/30 00:10:21
mindsportsioupvoted (1.00%) @arumugam / e-bitcoin
2017/11/30 00:10:21
| author | arumugam |
| permlink | e-bitcoin |
| voter | mindsportsio |
| weight | 100 (1.00%) |
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}elevatorupvoted (100.00%) @arumugam / 5jtuwc-e-bitcoin2017/11/16 07:42:33
elevatorupvoted (100.00%) @arumugam / 5jtuwc-e-bitcoin
2017/11/16 07:42:33
| author | arumugam |
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}anomalyupvoted (1.00%) @arumugam / 5jtuwc-e-bitcoin2017/11/16 04:59:51
anomalyupvoted (1.00%) @arumugam / 5jtuwc-e-bitcoin
2017/11/16 04:59:51
| author | arumugam |
| permlink | 5jtuwc-e-bitcoin |
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}arumugampublished a new post: 5jtuwc-e-bitcoin2017/11/16 04:57:33
arumugampublished a new post: 5jtuwc-e-bitcoin
2017/11/16 04:57:33
| author | arumugam |
| body | "5 bitcoins?!" On behalf of the entire cryptoverse, I cringed when my wife's little sister asked why there are 5 bitcoins. I helped align the entire world on one telecom system. As a result we can take our phones and go anywhere in the world and use them, and can call anyone. Economy of scale made it so cheap that everyone could get one. There are now 7.7 billion paying subscriptions, more than the people on earth - on one compatible system. In bitcoin, some opinions differ on the optimal value of a constant in the code, whether the "best" value is 1, 2 or 8 MB. Instead of working that out, or compromising on say 4, they each go and build their own bitcoin, incompatible with the other two. Then comes a fourth guy and differs in opinion on whether the best hash algorithm is SHA256 or Equihash. Then he also does another, incompatible bitcoin. A fifth guy, disagrees completely with the other 4, and voila, we have 5 bitcoins. As a result, the poor local car salesman has to put up 5 different payment systems with 5 different prices, to sell that lambo car. Hardly the optimal way to gain universal acceptance for bitcoin as a payment currency. How can this even happen? To understand this, we have to first understand that bitcoin, as most open source, is a decentralized effort. There is no CEO, no technical coordinator, no me. No-one is in charge. It is like coming to office where there is no boss, no-one leading the work and everyone can do whatever they want. Worse, you can take anyone else's work and say "I'll just take your work and add my name at the bottom". How can a system like that create something that gets a 100 billion dollar market cap? Because it clearly works. Look at how open source has taken over many industries in the world. The reason why open source still works is because the best and most used solutions get a self-reinforcing circle: Better solution -> more users -> more interest -> more developers -> better solutions. While probably bitcoin variant 834, which we will surely see at some point, may instead find itself in a dwingling circle of less users -> less interest -> difficulty to recruit developers -> solutions starting to lag -> less users. Somehow the market figures out what is best, and it is okay to have more choices. Now this is true in general, but it is not so good for peer-to-peer services, relying on that both parties use the same system. These are intelligent people, and they realize that by forking like this, they could potentially destroy much of the universal acceptance that was the whole point of bitcoin. So why are they doing that? What is it that makes them feel so strongly about it, that they are willing to risk the very thing they are fighting for? I don't think it's money, most have enough. The Battle of the 5 Bitcoins This is how it could sound like: Bitcoin Core: Hey Bitcoin should scale not just from 5 to 50 transactions per second, but to 50,000 or 50 million, to be a viable payment alternative. Bitcoin in it's original architecture, doesn't scale easily to those numbers so let's add a layer on top, transacted outside bitcoin, and then recorded back on-chain. Problem solved! Bitcoin Cash: Not so fast Mr Core! If we add a settlement layer on top, we are back to companies with CEO's and all the things we wanted to get rid of with a decentralized payment system in the first place. We simply can't do that, says BCH. Instead let's scale the blocks to fit more transactions within the true decentralized nature of the original bitcoin. Bitcoin Gold: You are all wrong says BTG. You have lost the decentralization already. It is all controlled by the centralized mining companies, to large extent in huge mining farms in China. The current algorithm makes it impossible to compete with them. We need to put the mining power back in the hands of everyday people, because the miners determine bitcoin. 2x, largely the current mining companies: Guys, when we agreed to Segwit in Bitcoin Core, you promised us that we would increase the block size to 2 MB. What is this nonsense about pulling out? I stand by my word and honor my agreements. eBTC: Finally comes the new kid and says: Grandpas, there is a much simpler way to do all of what you are talking about. I wrote it with my thumbs. You are all old men stuck in old times. Which is "Best"? I have tried to make an exhaustive analysis in the table below, looking primarily at real performance. I've spent two decades talking about "roadmaps" and I know that working software running live in production is a very different animal from making a nice looking plan in powerpoint. I've noted the roadmaps, but I believe roadmaps when the day is reached and the code is live. Bitcoin Cash does actually perform well in terms of transaction fees, but suffers from inconsistent block times, making it still as unpractical for payments as regular bitcoin. Bitcoin Gold does have merits in terms of mining, but few people actually care about that. I was surprised myself how good eBTC compares to the other 4 in real performance. It is a crazy idea, but good, clearly the wildcard. In many ways, it is "best" out of the 5 - quite a shock to many I'm sure. Will S2X be "better" than the original? Marginally. Actually when scaling large distributed systems, you don't scale them 2x. You need to scale them at least 10 times in a go to be worth the hassle. All this fork ambiguity over a 2x increase in something is truly a horrible idea, and weakens my confidence in bitcoin. On the market it might still help. Scandals brings publicity. Publicity brings buyers (or voters). Having said this, it is important to note "Best for what?" Bitcoin isn't a currency today. Transaction fees and transaction times are horrible and what really kills it is the volatility. You can't use a currency for actual purchases when it can be worth 20% more or less while you're doing the transaction. Most businesses face margin pressure and are high precision operations. Which One is Bitcoin? Like I started, I think we will have more than one bitcoin going forward. It is a consequence of having no boss and no clear informal leader. If Satoshi Nakamoto rose tomorrow and said he thinks Bitcoin X should be the bitcoin, that might change, but I personally think he is no longer with us unfortunately, and there is no other natural leader. BCH, with it's die-hard absolutely-no layer on top, may prevail, with a small share of the volume, like today. There will remain enough people who feel strongly about this matter. And as I noted, since bitcoin isn't primarily a payment currency today, the scaling that the Lightning network brings, isn't needed yet. 8 MB would have been just fine today for exchange trading and an occational lambo. BCH could have done much better with better communications and politics. I doubt Bitcoin Gold will make it, I think too few people care enough about the actual cause. Is 2x or 1x the Bitcoin? The 100 billion dollar question? I don't know. A few days ago I felt fairly certain that Core would prevail and I'm still guessing that will be the case. But what will determine it is the exchanges. If I sell my Alts, what is the trading pair? Where does the money go? Remember, bitcoin isn't a payment currency, it's a trading instrument. If I sell my OMG or WTC (which I won't) where does the money go? Currently the exchanges are split here. Later they cannot be. When an exchange customer sends BTC from A to B, it can't be opposite chains. People would lose money and blame the exchanges. So there will be a consensus on this. Right now I'm leaning towards Core, but I am far less certain than a few days back. Monitor the exchange statements! My Skin in the Game So what did I do? This is not trading advice, just what I did personally, and for full disclosure: I traded BCH once but aren't keeping any and I'm not looking to buy. I never bought any BTG. I have not bet on either BT1 or BT2. I feel both would be risky without knowing the outcome of how the exchanges will list BTC in the Alt/BTC trading pairs. But I did buy eBTC and I bought more a few days back before the token swap. That is really the wildcard. As can be seen in the table, technically it is combining the best aspects of the other 4, by just piggy-backing on Ethereum that is a generation newer than Bitcoin. Will eBTC make it? Is it too crazy or can it *actually* work? It is a long shot and it will, as all start-ups, come down to execution. But if they do, I'm sure not going to stand on the side and miss a bitcoin train a second time. So I spent 1k to bought that Bitcoin pizza size of 10,000 eBTC coins that I didn't buy in 2010. Now I can sleep well at night, free from FOMO  |
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| parent author | |
| parent permlink | bitcoin |
| permlink | 5jtuwc-e-bitcoin |
| title | E-bitcoin |
| Transaction Info | Block #17263282/Trx 6f017ff3465549dfbf09a30c77b8f07e729ef9f9 |
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"body": "\"5 bitcoins?!\"\nOn behalf of the entire cryptoverse, I cringed when my wife's little sister asked why there are 5 bitcoins. \n\nI helped align the entire world on one telecom system. As a result we can take our phones and go anywhere in the world and use them, and can call anyone. Economy of scale made it so cheap that everyone could get one. There are now 7.7 billion paying subscriptions, more than the people on earth - on one compatible system. \n\nIn bitcoin, some opinions differ on the optimal value of a constant in the code, whether the \"best\" value is 1, 2 or 8 MB. Instead of working that out, or compromising on say 4, they each go and build their own bitcoin, incompatible with the other two. Then comes a fourth guy and differs in opinion on whether the best hash algorithm is SHA256 or Equihash. Then he also does another, incompatible bitcoin. A fifth guy, disagrees completely with the other 4, and voila, we have 5 bitcoins. As a result, the poor local car salesman has to put up 5 different payment systems with 5 different prices, to sell that lambo car. Hardly the optimal way to gain universal acceptance for bitcoin as a payment currency. How can this even happen? \n\nTo understand this, we have to first understand that bitcoin, as most open source, is a decentralized effort. There is no CEO, no technical coordinator, no me. No-one is in charge. It is like coming to office where there is no boss, no-one leading the work and everyone can do whatever they want. Worse, you can take anyone else's work and say \"I'll just take your work and add my name at the bottom\". How can a system like that create something that gets a 100 billion dollar market cap? Because it clearly works. Look at how open source has taken over many industries in the world. \n\nThe reason why open source still works is because the best and most used solutions get a self-reinforcing circle: Better solution -> more users -> more interest -> more developers -> better solutions. While probably bitcoin variant 834, which we will surely see at some point, may instead find itself in a dwingling circle of less users -> less interest -> difficulty to recruit developers -> solutions starting to lag -> less users. Somehow the market figures out what is best, and it is okay to have more choices. Now this is true in general, but it is not so good for peer-to-peer services, relying on that both parties use the same system. \n\nThese are intelligent people, and they realize that by forking like this, they could potentially destroy much of the universal acceptance that was the whole point of bitcoin. So why are they doing that? What is it that makes them feel so strongly about it, that they are willing to risk the very thing they are fighting for? I don't think it's money, most have enough. \n\n\nThe Battle of the 5 Bitcoins\nThis is how it could sound like: \n\nBitcoin Core: Hey Bitcoin should scale not just from 5 to 50 transactions per second, but to 50,000 or 50 million, to be a viable payment alternative. Bitcoin in it's original architecture, doesn't scale easily to those numbers so let's add a layer on top, transacted outside bitcoin, and then recorded back on-chain. Problem solved! \n\nBitcoin Cash: Not so fast Mr Core! If we add a settlement layer on top, we are back to companies with CEO's and all the things we wanted to get rid of with a decentralized payment system in the first place. We simply can't do that, says BCH. Instead let's scale the blocks to fit more transactions within the true decentralized nature of the original bitcoin. \n\nBitcoin Gold: You are all wrong says BTG. You have lost the decentralization already. It is all controlled by the centralized mining companies, to large extent in huge mining farms in China. The current algorithm makes it impossible to compete with them. We need to put the mining power back in the hands of everyday people, because the miners determine bitcoin. \n\n2x, largely the current mining companies: Guys, when we agreed to Segwit in Bitcoin Core, you promised us that we would increase the block size to 2 MB. What is this nonsense about pulling out? I stand by my word and honor my agreements. \n\neBTC: Finally comes the new kid and says: Grandpas, there is a much simpler way to do all of what you are talking about. I wrote it with my thumbs. You are all old men stuck in old times. \n\n\nWhich is \"Best\"?\nI have tried to make an exhaustive analysis in the table below, looking primarily at real performance. I've spent two decades talking about \"roadmaps\" and I know that working software running live in production is a very different animal from making a nice looking plan in powerpoint. I've noted the roadmaps, but I believe roadmaps when the day is reached and the code is live. \n\nBitcoin Cash does actually perform well in terms of transaction fees, but suffers from inconsistent block times, making it still as unpractical for payments as regular bitcoin. \n\nBitcoin Gold does have merits in terms of mining, but few people actually care about that. \n\nI was surprised myself how good eBTC compares to the other 4 in real performance. It is a crazy idea, but good, clearly the wildcard. In many ways, it is \"best\" out of the 5 - quite a shock to many I'm sure. \n\nWill S2X be \"better\" than the original? Marginally. Actually when scaling large distributed systems, you don't scale them 2x. You need to scale them at least 10 times in a go to be worth the hassle. All this fork ambiguity over a 2x increase in something is truly a horrible idea, and weakens my confidence in bitcoin. On the market it might still help. Scandals brings publicity. Publicity brings buyers (or voters). \n\nHaving said this, it is important to note \"Best for what?\" Bitcoin isn't a currency today. Transaction fees and transaction times are horrible and what really kills it is the volatility. You can't use a currency for actual purchases when it can be worth 20% more or less while you're doing the transaction. Most businesses face margin pressure and are high precision operations.\n\nWhich One is Bitcoin?\nLike I started, I think we will have more than one bitcoin going forward. It is a consequence of having no boss and no clear informal leader. If Satoshi Nakamoto rose tomorrow and said he thinks Bitcoin X should be the bitcoin, that might change, but I personally think he is no longer with us unfortunately, and there is no other natural leader. \n\nBCH, with it's die-hard absolutely-no layer on top, may prevail, with a small share of the volume, like today. There will remain enough people who feel strongly about this matter. And as I noted, since bitcoin isn't primarily a payment currency today, the scaling that the Lightning network brings, isn't needed yet. 8 MB would have been just fine today for exchange trading and an occational lambo. BCH could have done much better with better communications and politics. \n\nI doubt Bitcoin Gold will make it, I think too few people care enough about the actual cause. \n\nIs 2x or 1x the Bitcoin? The 100 billion dollar question? I don't know. A few days ago I felt fairly certain that Core would prevail and I'm still guessing that will be the case. But what will determine it is the exchanges. If I sell my Alts, what is the trading pair? Where does the money go? Remember, bitcoin isn't a payment currency, it's a trading instrument. If I sell my OMG or WTC (which I won't) where does the money go? Currently the exchanges are split here. Later they cannot be. When an exchange customer sends BTC from A to B, it can't be opposite chains. People would lose money and blame the exchanges. So there will be a consensus on this. Right now I'm leaning towards Core, but I am far less certain than a few days back. Monitor the exchange statements!\n\nMy Skin in the Game\nSo what did I do? This is not trading advice, just what I did personally, and for full disclosure: \n\nI traded BCH once but aren't keeping any and I'm not looking to buy. \n\nI never bought any BTG. \n\nI have not bet on either BT1 or BT2. I feel both would be risky without knowing the outcome of how the exchanges will list BTC in the Alt/BTC trading pairs. \n\nBut I did buy eBTC and I bought more a few days back before the token swap. That is really the wildcard. As can be seen in the table, technically it is combining the best aspects of the other 4, by just piggy-backing on Ethereum that is a generation newer than Bitcoin. Will eBTC make it? Is it too crazy or can it *actually* work? It is a long shot and it will, as all start-ups, come down to execution. But if they do, I'm sure not going to stand on the side and miss a bitcoin train a second time. So I spent 1k to bought that Bitcoin pizza size of 10,000 eBTC coins that I didn't buy in 2010. Now I can sleep well at night, free from FOMO \n\n",
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}cheetahreplied to @arumugam / cheetah-re-arumugame-bitcoin2017/11/16 04:53:57
cheetahreplied to @arumugam / cheetah-re-arumugame-bitcoin
2017/11/16 04:53:57
| author | cheetah |
| body | Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in: https://steemit.com/ebtc/@talkatives/state-of-bitcoins |
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2017/11/16 04:52:06
| author | arumugam |
| body | "5 bitcoins?!" On behalf of the entire cryptoverse, I cringed when my wife's little sister asked why there are 5 bitcoins. I helped align the entire world on one telecom system. As a result we can take our phones and go anywhere in the world and use them, and can call anyone. Economy of scale made it so cheap that everyone could get one. There are now 7.7 billion paying subscriptions, more than the people on earth - on one compatible system. In bitcoin, some opinions differ on the optimal value of a constant in the code, whether the "best" value is 1, 2 or 8 MB. Instead of working that out, or compromising on say 4, they each go and build their own bitcoin, incompatible with the other two. Then comes a fourth guy and differs in opinion on whether the best hash algorithm is SHA256 or Equihash. Then he also does another, incompatible bitcoin. A fifth guy, disagrees completely with the other 4, and voila, we have 5 bitcoins. As a result, the poor local car salesman has to put up 5 different payment systems with 5 different prices, to sell that lambo car. Hardly the optimal way to gain universal acceptance for bitcoin as a payment currency. How can this even happen? To understand this, we have to first understand that bitcoin, as most open source, is a decentralized effort. There is no CEO, no technical coordinator, no me. No-one is in charge. It is like coming to office where there is no boss, no-one leading the work and everyone can do whatever they want. Worse, you can take anyone else's work and say "I'll just take your work and add my name at the bottom". How can a system like that create something that gets a 100 billion dollar market cap? Because it clearly works. Look at how open source has taken over many industries in the world. The reason why open source still works is because the best and most used solutions get a self-reinforcing circle: Better solution -> more users -> more interest -> more developers -> better solutions. While probably bitcoin variant 834, which we will surely see at some point, may instead find itself in a dwingling circle of less users -> less interest -> difficulty to recruit developers -> solutions starting to lag -> less users. Somehow the market figures out what is best, and it is okay to have more choices. Now this is true in general, but it is not so good for peer-to-peer services, relying on that both parties use the same system. These are intelligent people, and they realize that by forking like this, they could potentially destroy much of the universal acceptance that was the whole point of bitcoin. So why are they doing that? What is it that makes them feel so strongly about it, that they are willing to risk the very thing they are fighting for? I don't think it's money, most have enough. The Battle of the 5 Bitcoins This is how it could sound like: Bitcoin Core: Hey Bitcoin should scale not just from 5 to 50 transactions per second, but to 50,000 or 50 million, to be a viable payment alternative. Bitcoin in it's original architecture, doesn't scale easily to those numbers so let's add a layer on top, transacted outside bitcoin, and then recorded back on-chain. Problem solved! Bitcoin Cash: Not so fast Mr Core! If we add a settlement layer on top, we are back to companies with CEO's and all the things we wanted to get rid of with a decentralized payment system in the first place. We simply can't do that, says BCH. Instead let's scale the blocks to fit more transactions within the true decentralized nature of the original bitcoin. Bitcoin Gold: You are all wrong says BTG. You have lost the decentralization already. It is all controlled by the centralized mining companies, to large extent in huge mining farms in China. The current algorithm makes it impossible to compete with them. We need to put the mining power back in the hands of everyday people, because the miners determine bitcoin. 2x, largely the current mining companies: Guys, when we agreed to Segwit in Bitcoin Core, you promised us that we would increase the block size to 2 MB. What is this nonsense about pulling out? I stand by my word and honor my agreements. eBTC: Finally comes the new kid and says: Grandpas, there is a much simpler way to do all of what you are talking about. I wrote it with my thumbs. You are all old men stuck in old times. Which is "Best"? I have tried to make an exhaustive analysis in the table below, looking primarily at real performance. I've spent two decades talking about "roadmaps" and I know that working software running live in production is a very different animal from making a nice looking plan in powerpoint. I've noted the roadmaps, but I believe roadmaps when the day is reached and the code is live. Bitcoin Cash does actually perform well in terms of transaction fees, but suffers from inconsistent block times, making it still as unpractical for payments as regular bitcoin. Bitcoin Gold does have merits in terms of mining, but few people actually care about that. I was surprised myself how good eBTC compares to the other 4 in real performance. It is a crazy idea, but good, clearly the wildcard. In many ways, it is "best" out of the 5 - quite a shock to many I'm sure. Will S2X be "better" than the original? Marginally. Actually when scaling large distributed systems, you don't scale them 2x. You need to scale them at least 10 times in a go to be worth the hassle. All this fork ambiguity over a 2x increase in something is truly a horrible idea, and weakens my confidence in bitcoin. On the market it might still help. Scandals brings publicity. Publicity brings buyers (or voters). Having said this, it is important to note "Best for what?" Bitcoin isn't a currency today. Transaction fees and transaction times are horrible and what really kills it is the volatility. You can't use a currency for actual purchases when it can be worth 20% more or less while you're doing the transaction. Most businesses face margin pressure and are high precision operations. Which One is Bitcoin? Like I started, I think we will have more than one bitcoin going forward. It is a consequence of having no boss and no clear informal leader. If Satoshi Nakamoto rose tomorrow and said he thinks Bitcoin X should be the bitcoin, that might change, but I personally think he is no longer with us unfortunately, and there is no other natural leader. BCH, with it's die-hard absolutely-no layer on top, may prevail, with a small share of the volume, like today. There will remain enough people who feel strongly about this matter. And as I noted, since bitcoin isn't primarily a payment currency today, the scaling that the Lightning network brings, isn't needed yet. 8 MB would have been just fine today for exchange trading and an occational lambo. BCH could have done much better with better communications and politics. I doubt Bitcoin Gold will make it, I think too few people care enough about the actual cause. Is 2x or 1x the Bitcoin? The 100 billion dollar question? I don't know. A few days ago I felt fairly certain that Core would prevail and I'm still guessing that will be the case. But what will determine it is the exchanges. If I sell my Alts, what is the trading pair? Where does the money go? Remember, bitcoin isn't a payment currency, it's a trading instrument. If I sell my OMG or WTC (which I won't) where does the money go? Currently the exchanges are split here. Later they cannot be. When an exchange customer sends BTC from A to B, it can't be opposite chains. People would lose money and blame the exchanges. So there will be a consensus on this. Right now I'm leaning towards Core, but I am far less certain than a few days back. Monitor the exchange statements! My Skin in the Game So what did I do? This is not trading advice, just what I did personally, and for full disclosure: I traded BCH once but aren't keeping any and I'm not looking to buy. I never bought any BTG. I have not bet on either BT1 or BT2. I feel both would be risky without knowing the outcome of how the exchanges will list BTC in the Alt/BTC trading pairs. But I did buy eBTC and I bought more a few days back before the token swap. That is really the wildcard. As can be seen in the table, technically it is combining the best aspects of the other 4, by just piggy-backing on Ethereum that is a generation newer than Bitcoin. Will eBTC make it? Is it too crazy or can it *actually* work? It is a long shot and it will, as all start-ups, come down to execution. But if they do, I'm sure not going to stand on the side and miss a bitcoin train a second time. So I spent 1k to bought that Bitcoin pizza size of 10,000 eBTC coins that I didn't buy in 2010. Now I can sleep well at night, free from FOMO :-) Bitcoins Compared v0.21 |
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"body": "\"5 bitcoins?!\"\nOn behalf of the entire cryptoverse, I cringed when my wife's little sister asked why there are 5 bitcoins. \n\nI helped align the entire world on one telecom system. As a result we can take our phones and go anywhere in the world and use them, and can call anyone. Economy of scale made it so cheap that everyone could get one. There are now 7.7 billion paying subscriptions, more than the people on earth - on one compatible system. \n\nIn bitcoin, some opinions differ on the optimal value of a constant in the code, whether the \"best\" value is 1, 2 or 8 MB. Instead of working that out, or compromising on say 4, they each go and build their own bitcoin, incompatible with the other two. Then comes a fourth guy and differs in opinion on whether the best hash algorithm is SHA256 or Equihash. Then he also does another, incompatible bitcoin. A fifth guy, disagrees completely with the other 4, and voila, we have 5 bitcoins. As a result, the poor local car salesman has to put up 5 different payment systems with 5 different prices, to sell that lambo car. Hardly the optimal way to gain universal acceptance for bitcoin as a payment currency. How can this even happen? \n\nTo understand this, we have to first understand that bitcoin, as most open source, is a decentralized effort. There is no CEO, no technical coordinator, no me. No-one is in charge. It is like coming to office where there is no boss, no-one leading the work and everyone can do whatever they want. Worse, you can take anyone else's work and say \"I'll just take your work and add my name at the bottom\". How can a system like that create something that gets a 100 billion dollar market cap? Because it clearly works. Look at how open source has taken over many industries in the world. \n\nThe reason why open source still works is because the best and most used solutions get a self-reinforcing circle: Better solution -> more users -> more interest -> more developers -> better solutions. While probably bitcoin variant 834, which we will surely see at some point, may instead find itself in a dwingling circle of less users -> less interest -> difficulty to recruit developers -> solutions starting to lag -> less users. Somehow the market figures out what is best, and it is okay to have more choices. Now this is true in general, but it is not so good for peer-to-peer services, relying on that both parties use the same system. \n\nThese are intelligent people, and they realize that by forking like this, they could potentially destroy much of the universal acceptance that was the whole point of bitcoin. So why are they doing that? What is it that makes them feel so strongly about it, that they are willing to risk the very thing they are fighting for? I don't think it's money, most have enough. \n\n\nThe Battle of the 5 Bitcoins\nThis is how it could sound like: \n\nBitcoin Core: Hey Bitcoin should scale not just from 5 to 50 transactions per second, but to 50,000 or 50 million, to be a viable payment alternative. Bitcoin in it's original architecture, doesn't scale easily to those numbers so let's add a layer on top, transacted outside bitcoin, and then recorded back on-chain. Problem solved! \n\nBitcoin Cash: Not so fast Mr Core! If we add a settlement layer on top, we are back to companies with CEO's and all the things we wanted to get rid of with a decentralized payment system in the first place. We simply can't do that, says BCH. Instead let's scale the blocks to fit more transactions within the true decentralized nature of the original bitcoin. \n\nBitcoin Gold: You are all wrong says BTG. You have lost the decentralization already. It is all controlled by the centralized mining companies, to large extent in huge mining farms in China. The current algorithm makes it impossible to compete with them. We need to put the mining power back in the hands of everyday people, because the miners determine bitcoin. \n\n2x, largely the current mining companies: Guys, when we agreed to Segwit in Bitcoin Core, you promised us that we would increase the block size to 2 MB. What is this nonsense about pulling out? I stand by my word and honor my agreements. \n\neBTC: Finally comes the new kid and says: Grandpas, there is a much simpler way to do all of what you are talking about. I wrote it with my thumbs. You are all old men stuck in old times. \n\n\nWhich is \"Best\"?\nI have tried to make an exhaustive analysis in the table below, looking primarily at real performance. I've spent two decades talking about \"roadmaps\" and I know that working software running live in production is a very different animal from making a nice looking plan in powerpoint. I've noted the roadmaps, but I believe roadmaps when the day is reached and the code is live. \n\nBitcoin Cash does actually perform well in terms of transaction fees, but suffers from inconsistent block times, making it still as unpractical for payments as regular bitcoin. \n\nBitcoin Gold does have merits in terms of mining, but few people actually care about that. \n\nI was surprised myself how good eBTC compares to the other 4 in real performance. It is a crazy idea, but good, clearly the wildcard. In many ways, it is \"best\" out of the 5 - quite a shock to many I'm sure. \n\nWill S2X be \"better\" than the original? Marginally. Actually when scaling large distributed systems, you don't scale them 2x. You need to scale them at least 10 times in a go to be worth the hassle. All this fork ambiguity over a 2x increase in something is truly a horrible idea, and weakens my confidence in bitcoin. On the market it might still help. Scandals brings publicity. Publicity brings buyers (or voters). \n\nHaving said this, it is important to note \"Best for what?\" Bitcoin isn't a currency today. Transaction fees and transaction times are horrible and what really kills it is the volatility. You can't use a currency for actual purchases when it can be worth 20% more or less while you're doing the transaction. Most businesses face margin pressure and are high precision operations.\n\nWhich One is Bitcoin?\nLike I started, I think we will have more than one bitcoin going forward. It is a consequence of having no boss and no clear informal leader. If Satoshi Nakamoto rose tomorrow and said he thinks Bitcoin X should be the bitcoin, that might change, but I personally think he is no longer with us unfortunately, and there is no other natural leader. \n\nBCH, with it's die-hard absolutely-no layer on top, may prevail, with a small share of the volume, like today. There will remain enough people who feel strongly about this matter. And as I noted, since bitcoin isn't primarily a payment currency today, the scaling that the Lightning network brings, isn't needed yet. 8 MB would have been just fine today for exchange trading and an occational lambo. BCH could have done much better with better communications and politics. \n\nI doubt Bitcoin Gold will make it, I think too few people care enough about the actual cause. \n\nIs 2x or 1x the Bitcoin? The 100 billion dollar question? I don't know. A few days ago I felt fairly certain that Core would prevail and I'm still guessing that will be the case. But what will determine it is the exchanges. If I sell my Alts, what is the trading pair? Where does the money go? Remember, bitcoin isn't a payment currency, it's a trading instrument. If I sell my OMG or WTC (which I won't) where does the money go? Currently the exchanges are split here. Later they cannot be. When an exchange customer sends BTC from A to B, it can't be opposite chains. People would lose money and blame the exchanges. So there will be a consensus on this. Right now I'm leaning towards Core, but I am far less certain than a few days back. Monitor the exchange statements!\n\nMy Skin in the Game\nSo what did I do? This is not trading advice, just what I did personally, and for full disclosure: \n\nI traded BCH once but aren't keeping any and I'm not looking to buy. \n\nI never bought any BTG. \n\nI have not bet on either BT1 or BT2. I feel both would be risky without knowing the outcome of how the exchanges will list BTC in the Alt/BTC trading pairs. \n\nBut I did buy eBTC and I bought more a few days back before the token swap. That is really the wildcard. As can be seen in the table, technically it is combining the best aspects of the other 4, by just piggy-backing on Ethereum that is a generation newer than Bitcoin. Will eBTC make it? Is it too crazy or can it *actually* work? It is a long shot and it will, as all start-ups, come down to execution. But if they do, I'm sure not going to stand on the side and miss a bitcoin train a second time. So I spent 1k to bought that Bitcoin pizza size of 10,000 eBTC coins that I didn't buy in 2010. Now I can sleep well at night, free from FOMO :-) \n\n\n\nBitcoins Compared v0.21",
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2017/10/13 16:06:42
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arumugamfollowed @awesomepeoples
2017/09/15 15:25:06
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}arumugamupvoted (100.00%) @arumugam / never-stop-cryptocurrency2017/09/14 02:45:15
arumugamupvoted (100.00%) @arumugam / never-stop-cryptocurrency
2017/09/14 02:45:15
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}arumugampublished a new post: never-stop-cryptocurrency2017/09/14 02:45:15
arumugampublished a new post: never-stop-cryptocurrency
2017/09/14 02:45:15
| author | arumugam |
| body | Or the banks could just back their currency on Bitcoin... If not Bitcoin then their own proprietary blockchains. Just like several countries are in the process of doing right now. Aside from that point, we don't need the internet to hold Bitcoin. It's not on a single website, either. You can't ever shut it down because it doesn't exist in one place. It's everywhere. I can store it on a piece of paper, too. I can even transfer it from my piece of paper to your piece of paper without the internet. Bitcoin isn't the 'end-all / be-all' solution to finance, by the way. There are dozens of viable platforms which outperform Bitcoin. Omise_GO is a business similar to PayPal based in SE-Asia. They developed a blockchain for their platform which allows for faster and cheaper cash transfers. There are dozens of companies like this; Litecoin, Ethereum, NEO, etc. Many are backed by their governments. I'm not sure why people still imagine that this is going away. At this point it's too late and every big bank knows it. We're quickly entering the "If you can't beat'em, join'em" phase. The time to stop this technology was 9 years ago. It's way too late, now. |
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"body": "Or the banks could just back their currency on Bitcoin... If not Bitcoin then their own proprietary blockchains. Just like several countries are in the process of doing right now.\n\nAside from that point, we don't need the internet to hold Bitcoin. It's not on a single website, either. You can't ever shut it down because it doesn't exist in one place. It's everywhere. I can store it on a piece of paper, too. I can even transfer it from my piece of paper to your piece of paper without the internet. Bitcoin isn't the 'end-all / be-all' solution to finance, by the way. There are dozens of viable platforms which outperform Bitcoin.\n\nOmise_GO is a business similar to PayPal based in SE-Asia. They developed a blockchain for their platform which allows for faster and cheaper cash transfers.\n\nThere are dozens of companies like this; Litecoin, Ethereum, NEO, etc. Many are backed by their governments. I'm not sure why people still imagine that this is going away.\n\nAt this point it's too late and every big bank knows it. We're quickly entering the \"If you can't beat'em, join'em\" phase. The time to stop this technology was 9 years ago. It's way too late, now.",
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2017/09/14 02:44:45
| author | icarusfortune |
| body | I'm pretty sure the market that invests in crypto doesn't really care what JPM has to say. I'm also pretty sure that's why they're in crypto in the first place. If it has utility they can use or copy they will and their tune will change. Is it in a bubble? No idea, I do know this though ask 10 people about it and you'll get 9 1/2 blank stares. It'll be a bubble when your taxi driver or neighbor starts talking to you about it. Plus, Amazon, Google, Apple, eBay, they were all created during the dot.bomb bubble and I'd venture to the say the survivors stand to do fairly well. |
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}ubgupvoted (1.00%) @arumugam / cryptocurrency-is-better-than-fiat-currency2017/09/14 02:29:24
ubgupvoted (1.00%) @arumugam / cryptocurrency-is-better-than-fiat-currency
2017/09/14 02:29:24
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}sbdraffleupvoted (5.00%) @arumugam / cryptocurrency-is-better-than-fiat-currency2017/09/14 02:23:39
sbdraffleupvoted (5.00%) @arumugam / cryptocurrency-is-better-than-fiat-currency
2017/09/14 02:23:39
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}sbdraffleupvoted (5.00%) @arumugam / why-jp-morgan-s-jamie-dimon-labels-bitcoin-a-fraud2017/09/14 02:21:51
sbdraffleupvoted (5.00%) @arumugam / why-jp-morgan-s-jamie-dimon-labels-bitcoin-a-fraud
2017/09/14 02:21:51
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}arumugamupvoted (100.00%) @arumugam / why-jp-morgan-s-jamie-dimon-labels-bitcoin-a-fraud2017/09/14 02:17:36
arumugamupvoted (100.00%) @arumugam / why-jp-morgan-s-jamie-dimon-labels-bitcoin-a-fraud
2017/09/14 02:17:36
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arumugampublished a new post: why-jp-morgan-s-jamie-dimon-labels-bitcoin-a-fraud
2017/09/14 02:17:36
| author | arumugam |
| body | Don't they ever get tired of shouting the same spiel?? Bitcoin is a fraud. It is the Tulip bubble, Blockchain is evil and only used for evil. Well this "Fraud" has been operating as legit as possible for over 8 years and just keeps on defying logic. If it truly is what they say now and have said countless of times Bitcoin should have died, yet here it is. Still kicking, Still standing except now it got a small army of other cryptos behind it with many of them aiming to promote new technologies into a incredibly stagnant field. This is a classic case of Old money obsessed with their old ways refusing to acknowledge even the tiniest possibility that the world economy is not according to their almighty charts. Bitcoin might strike it big or it might fall,There will down periods and up periods. Time will tell how it will go, but it should have become clear that cryptocurrency is not some fad that will dissapear cause some fools saying it will. It has survived a lot worse and is clearly here to stay. Also wasn't his one of the guys responsible for the economy collapse of 08?? |
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"body": "Don't they ever get tired of shouting the same spiel?? Bitcoin is a fraud. It is the Tulip bubble, Blockchain is evil and only used for evil.\n\nWell this \"Fraud\" has been operating as legit as possible for over 8 years and just keeps on defying logic. If it truly is what they say now and have said countless of times Bitcoin should have died, yet here it is. Still kicking, Still standing except now it got a small army of other cryptos behind it with many of them aiming to promote new technologies into a incredibly stagnant field. This is a classic case of Old money obsessed with their old ways refusing to acknowledge even the tiniest possibility that the world economy is not according to their almighty charts.\n\nBitcoin might strike it big or it might fall,There will down periods and up periods. Time will tell how it will go, but it should have become clear that cryptocurrency is not some fad that will dissapear cause some fools saying it will. It has survived a lot worse and is clearly here to stay.\n\nAlso wasn't his one of the guys responsible for the economy collapse of 08??",
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}arumugamupvoted (100.00%) @arumugam / cryptocurrency-is-better-than-fiat-currency2017/09/14 02:09:24
arumugamupvoted (100.00%) @arumugam / cryptocurrency-is-better-than-fiat-currency
2017/09/14 02:09:24
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arumugampublished a new post: cryptocurrency-is-better-than-fiat-currency
2017/09/14 02:09:24
| author | arumugam |
| body | The explicit definition of an asset is something that has 'explicit' value expressed by obtaining real world assets that can be priced to a discrete number minus the effort involved to obtain and hold the original asset prior to exchange. If the total sum is less than positive or that the expense and effort costs more than the exchange value then no tax or governmental control should ever be required or enforced in such situations because the overall effect is confiscatory control over items that have not increased in value in comparison to the inputs to gain such assets. There are a lot of people simply acquiring cryptocurrencies because the fiat money they hold now is losing value so fast that buying crypto coin is much more appealing than keeping assets that lose value faster with inflation. Another reason to hold internet coin is that there isn't banking fees and regulations and holding periods when you deposit and remove money for whatever you want. |
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2017/09/13 05:31:33
| author | cheetah |
| body | Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in: https://techcrunch.com/2017/09/12/bankers-mistrust-of-bitcoin-is-still-the-greatest-argument-for-it/ |
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2017/09/13 05:31:27
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arumugampublished a new post: bankers-mistrust-of-bitcoin-is-still-the-greatest-argument-for-it
2017/09/13 05:31:09
| author | arumugam |
| body |  Earlier on Tuesday, at different conferences around New York, JPMorgan Chase chief executive Jamie Dimon took aim at bitcoin, calling the cryptocurrency “a fraud” and “worse than tulip bulbs.” This skepticism by one of Wall Street’s titans, and its reflection in many offices and hallways in top financial services companies, is perhaps one of the strongest cases for bitcoin’s lasting importance. Let’s be clear, Dimon’s firm is one of the chief architects of the global financial crisis that led to the interest in a somewhat arcane cryptocurrency in the first place. There would be no bitcoin without Jamie Dimon — and in some ways he’s right to fear its rise. As a Vanity Fair piece revealed last week, JPMorgan Chase paid out $13 billion (with a “b”) to the U.S. government because of its role in the financial crisis and the mortgage security fiasco that almost destroyed the U.S. economy. The story quotes an unfiled complaint that was sealed as part of the settlement with the Department of Justice. Whatever irrational exuberance may be attributed to bitcoin’s current froth, it’s hardly a fraud. What it does is get rid of the need for potentially unscrupulous middlemen who thrive and profit on asymmetric information. Bitcoin does away with this by presenting an immutable ledger. The value of things are recorded, agreed upon, and irrefutable. Which means that shenanigans of the kind that brought down the housing bubble are less likely to occur. Perhaps bitcoin itself is overvalued, but it’s not the house of cards that Dimon’s employees blew over in 2008. While the near sacramental disputes in the cryptocurrency community over bitcoin and bitcoin cash or ethereum vs. ethereum classic do the entire industry no favors, they’re the arguments of individuals who want to untether financial services from the chicanery of misanthropic sociopaths who thrive on their ability to cheat systems. The favorite refrain of Wall St. may be “it’s only illegal if I get caught”… and while cryptocurrencies are unregulated, they are — for the most part — transparent. Again, the Vanity Fair report is illustrative. Dimon may say that he’s not advising anyone to ‘go short’ on bitcoin, but if Wall Street keeps up its criticism, my advice may be to go long. |
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"body": "\nEarlier on Tuesday, at different conferences around New York, JPMorgan Chase chief executive Jamie Dimon took aim at bitcoin, calling the cryptocurrency “a fraud” and “worse than tulip bulbs.”\n\nThis skepticism by one of Wall Street’s titans, and its reflection in many offices and hallways in top financial services companies, is perhaps one of the strongest cases for bitcoin’s lasting importance.\n\nLet’s be clear, Dimon’s firm is one of the chief architects of the global financial crisis that led to the interest in a somewhat arcane cryptocurrency in the first place. There would be no bitcoin without Jamie Dimon — and in some ways he’s right to fear its rise.\n\nAs a Vanity Fair piece revealed last week, JPMorgan Chase paid out $13 billion (with a “b”) to the U.S. government because of its role in the financial crisis and the mortgage security fiasco that almost destroyed the U.S. economy.\n\nThe story quotes an unfiled complaint that was sealed as part of the settlement with the Department of Justice.\nWhatever irrational exuberance may be attributed to bitcoin’s current froth, it’s hardly a fraud. What it does is get rid of the need for potentially unscrupulous middlemen who thrive and profit on asymmetric information.\n\nBitcoin does away with this by presenting an immutable ledger. The value of things are recorded, agreed upon, and irrefutable. Which means that shenanigans of the kind that brought down the housing bubble are less likely to occur.\n\nPerhaps bitcoin itself is overvalued, but it’s not the house of cards that Dimon’s employees blew over in 2008.\n\nWhile the near sacramental disputes in the cryptocurrency community over bitcoin and bitcoin cash or ethereum vs. ethereum classic do the entire industry no favors, they’re the arguments of individuals who want to untether financial services from the chicanery of misanthropic sociopaths who thrive on their ability to cheat systems.\n\nThe favorite refrain of Wall St. may be “it’s only illegal if I get caught”… and while cryptocurrencies are unregulated, they are — for the most part — transparent.\n\nAgain, the Vanity Fair report is illustrative.\n\nDimon may say that he’s not advising anyone to ‘go short’ on bitcoin, but if Wall Street keeps up its criticism, my advice may be to go long.",
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}arumugamupvoted (100.00%) @arumugam / the-other-side-of-the-coin2017/09/11 16:48:42
arumugamupvoted (100.00%) @arumugam / the-other-side-of-the-coin
2017/09/11 16:48:42
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2017/09/11 14:32:42
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2017/09/11 14:06:42
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2017/09/11 14:06:42
| author | arumugam |
| body | There’s been a devastating trail of destruction and flooding along the east Atlantic coast in the last few weeks following Hurricane Harvey and now Hurricane Irma. The latter, currently moving across Florida, is the strongest sustained hurricane ever recorded in the Atlantic outside the Caribbean and Gulf of Mexico. Hurricane strength is measured on the Saffir–Simpson scale, ranging from one (the lowest) to five (the highest) based on the hurricane’s wind speed and estimated potential damage. This takes into account parameters such as whether the hurricane uproots trees or removes roofs from houses, and whether the destruction could last for days or months. Initially, Hurricane Irma was rated as a category five (it is now losing energy), with winds moving at 175mph – destroying homes and causing power failure in the Caribbean. But given that Irma’s power has made some islands “barely habitable”, is category five really sufficient? Is it time to introduce a category six? Climate change People have been quick to ask if Hurricane Irma is connected to climate change and whether this is a sign of things to come. It remains uncertain whether hurricanes have significantly increased in frequency or severity as global temperatures have risen, partly due to a lack of long-term data. We know that hurricane formation is affected by changes in sea surface temperatures – a warm ocean helps fuel hurricanes. This is partly driven by natural periodic and cyclic variations in the Earth’s climatic and oceanic systems, meaning that in some years the ocean is warmer than in others. Studies have presented mixed views of what will happen in the future with global warming. However, there are many consistent models and research articles indicating that there will be fewer hurricanes along the Atlantic coast, but that those that do form will be more severe – due to the warmer temperatures. However, it’s important to keep in mind that what we’ve seen recently, compared with decades ago, is not so much a change in hurricanes, but a change in impacts. Many coasts have become increasingly urbanised, and this trend is likely to continue. As with many small islands, much of the population of Barbuda, Guadeloupe and others in the Caribbean are situated on the narrow coastal fringe – meaning they experience the full force of natural disasters, sometimes on scales never seen before. This means there is more infrastructure to be destroyed or damaged during extreme weather conditions than say to 100 years ago. The same can be said as Irma moves over Florida. Vulnerable economies Infrastructure on islands, such as harbours and airports, are key lifelines to the outside world – and any disruption to these can have serious consequences, potentially for many years. On small islands, infrastructure is partly there to support the economy (including tourism), which in turn provides further economic development, social welfare and health benefits to the wider population. Take the infrastructure away as Irma has, and the economy declines leading to a shock.There’s been a devastating trail of destruction and flooding along the east Atlantic coast in the last few weeks following Hurricane Harvey and now Hurricane Irma. The latter, currently moving across Florida, is the strongest sustained hurricane ever recorded in the Atlantic outside the Caribbean and Gulf of Mexico.\n\nHurricane strength is measured on the Saffir–Simpson scale, ranging from one (the lowest) to five (the highest) based on the hurricane’s wind speed and estimated potential damage. This takes into account parameters such as whether the hurricane uproots trees or removes roofs from houses, and whether the destruction could last for days or months.\n\nInitially, Hurricane Irma was rated as a category five (it is now losing energy), with winds moving at 175mph – destroying homes and causing power failure in the Caribbean. But given that Irma’s power has made some islands “barely habitable”, is category five really sufficient? Is it time to introduce a category six?\n\nClimate change\n\nPeople have been quick to ask if Hurricane Irma is connected to climate change and whether this is a sign of things to come. It remains uncertain whether hurricanes have significantly increased in frequency or severity as global temperatures have risen, partly due to a lack of long-term data.\n\nWe know that hurricane formation is affected by changes in sea surface temperatures – a warm ocean helps fuel hurricanes. This is partly driven by natural periodic and cyclic variations in the Earth’s climatic and oceanic systems, meaning that in some years the ocean is warmer than in others.\n\nStudies have presented mixed views of what will happen in the future with global warming. However, there are many consistent models and research articles indicating that there will be fewer hurricanes along the Atlantic coast, but that those that do form will be more severe – due to the warmer temperatures.\n\nHowever, it’s important to keep in mind that what we’ve seen recently, compared with decades ago, is not so much a change in hurricanes, but a change in impacts. Many coasts have become increasingly urbanised, and this trend is likely to continue. As with many small islands, much of the population of Barbuda, Guadeloupe and others in the Caribbean are situated on the narrow coastal fringe – meaning they experience the full force of natural disasters, sometimes on scales never seen before. This means there is more infrastructure to be destroyed or damaged during extreme weather conditions than say to 100 years ago. The same can be said as Irma moves over Florida.\n\nVulnerable economies\n\nInfrastructure on islands, such as harbours and airports, are key lifelines to the outside world – and any disruption to these can have serious consequences, potentially for many years. On small islands, infrastructure is partly there to support the economy (including tourism), which in turn provides further economic development, social welfare and health benefits to the wider population. Take the infrastructure away as Irma has, and the economy declines leading to a shock. @arumugam / the-other-side-of-the-coin2017/09/11 13:45:24
cheetahupvoted (0.50%) @arumugam / the-other-side-of-the-coin
2017/09/11 13:45:24
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}arumugampublished a new post: the-other-side-of-the-coin2017/09/11 13:45:00
arumugampublished a new post: the-other-side-of-the-coin
2017/09/11 13:45:00
| author | arumugam |
| body | Has ICO brought in the IPO approach to investments using technology? ICO is a new way of funding a start-up through cyptocurrency as compared to initial public offering (IPO) for any other company. Entrepreneurs invite investors to pool in money and issue them the digital tokens or coins of the cryptocurrency, similar to how shares are issued to investors during an IPO. On one side, entrepreneurs develop the product for which they have raised capital via ICO and the other side, investors start trading those tokens in the free markets. So what kinds of cryptocurrencies are generally traded? Bitcoin is more general in nature and eventually will become the underlying currency for buying into the ICO. One bitcoin is about 4000 dollar whereas another cryptocurrency such as ethereum could be around 300 dollar. The price range depends on the demand and supply ratio and how many buyers and sellers are dealing for a particular cryptocurrency. The tokens issued in ICO are traded similarly. The value of the token is enhanced over a period of time just like the equity as the company valuation grows. But why should businesses choose ICO to raise capital? At this point, ICO is very nascent in nature but it is a much simpler and straight forward way to raise capital from investors compared to the conventional practices like equity round because ICOs allow anyone and everyone to participate in it without any pre-requisites. It is completely a trust-based transaction. Investors must trust the founder first and believe in his/her idea. Usually entrepreneurs who raise funds via ICOs are serial entrepreneurs who understand growing and scaling businesses. What if the business fails? Depending on what has been promised, the remaining amount can be refunded or the founder can raise another round via ICO. Moreover in terms of investor selection, there is no filter to who can participate in the funding round and how many investors can pool in until the founder really want to do that. Most of them don’t really bother because tokens are issued on the blockchain which are secured via cryptography. So, security is usually not a risk. There were cases of couple of hacks in the past that had occurred but now, the entire process looks much more reliable. What is the lock-in period for investors? There is no specific lock-in period in ICO. Unlike in normal equity investment where founders have to give exit to investors, in ICO the tokens that investors have are tradable in the free market or as soon as they get listed on the exchange platforms. Hence, they can liquidate the tokens whenever they want and there are no obligations. But founders have to decide how much money they want to raise through ICO or, the resources required and how they plan to deploy the fund. Would ICOs be the new normal in start-up fundraising as blockchain becomes the next Internet? There are definitely chances for the startups, which will have difficulty raising funds in traditional modes but believe in the idea and think that there could be some interested angels somewhere in the world, to try and get ICO style funding than just trashing the idea. As the ICOs usually happens at much earlier stage of the company than the IPO, the risk of the investor is enormous but there definitely are investors who would buy into it. ICOs also reduce lot of paper work to be done especially during transfer of shares and buy-backs and such. |
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"body": "Has ICO brought in the IPO approach to investments using technology?\n\nICO is a new way of funding a start-up through cyptocurrency as compared to initial public offering (IPO) for any other company. Entrepreneurs invite investors to pool in money and issue them the digital tokens or coins of the cryptocurrency, similar to how shares are issued to investors during an IPO. On one side, entrepreneurs develop the product for which they have raised capital via ICO and the other side, investors start trading those tokens in the free markets.\n\n\nSo what kinds of cryptocurrencies are generally traded?\n\nBitcoin is more general in nature and eventually will become the underlying currency for buying into the ICO. One bitcoin is about 4000 dollar whereas another cryptocurrency such as ethereum could be around 300 dollar. The price range depends on the demand and supply ratio and how many buyers and sellers are dealing for a particular cryptocurrency. The tokens issued in ICO are traded similarly. The value of the token is enhanced over a period of time just like the equity as the company valuation grows.\n\nBut why should businesses choose ICO to raise capital?\n\nAt this point, ICO is very nascent in nature but it is a much simpler and straight forward way to raise capital from investors compared to the conventional practices like equity round because ICOs allow anyone and everyone to participate in it without any pre-requisites. It is completely a trust-based transaction. Investors must trust the founder first and believe in his/her idea. Usually entrepreneurs who raise funds via ICOs are serial entrepreneurs who understand growing and scaling businesses.\n\n\nWhat if the business fails?\n\nDepending on what has been promised, the remaining amount can be refunded or the founder can raise another round via ICO. Moreover in terms of investor selection, there is no filter to who can participate in the funding round and how many investors can pool in until the founder really want to do that. Most of them don’t really bother because tokens are issued on the blockchain which are secured via cryptography. So, security is usually not a risk. There were cases of couple of hacks in the past that had occurred but now, the entire process looks much more reliable.\n\nWhat is the lock-in period for investors?\n\nThere is no specific lock-in period in ICO. Unlike in normal equity investment where founders have to give exit to investors, in ICO the tokens that investors have are tradable in the free market or as soon as they get listed on the exchange platforms. Hence, they can liquidate the tokens whenever they want and there are no obligations. But founders have to decide how much money they want to raise through ICO or, the resources required and how they plan to deploy the fund.\n\n\nWould ICOs be the new normal in start-up fundraising as blockchain becomes the next Internet?\n\nThere are definitely chances for the startups, which will have difficulty raising funds in traditional modes but believe in the idea and think that there could be some interested angels somewhere in the world, to try and get ICO style funding than just trashing the idea. As the ICOs usually happens at much earlier stage of the company than the IPO, the risk of the investor is enormous but there definitely are investors who would buy into it. ICOs also reduce lot of paper work to be done especially during transfer of shares and buy-backs and such.",
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2017/09/05 07:35:00
| author | steemcleaners |
| body | Not indicating that the content you copy/paste is not your original work could be seen as [plagiarism. ](http://www.plagiarism.org/plagiarism-101/what-is-plagiarism/) Some tips to share content and add value: - Using a few sentences from your source in “quotes.” Use HTML tags or Markdown. - Linking to your source - Include your own original thoughts and ideas on what you have shared. Repeated plagiarized posts are considered spam. Spam is discouraged by the community, and may result in action from the [cheetah bot](https://steemit.com/steemitabuse/@cheetah/cheetah-bot-explained). Creative Commons: If you are posting content under a Creative Commons license, please attribute and link according to the specific license. If you are posting content under CC0 or Public Domain please consider noting that at the end of your post. If you are actually the original author, please do reply to let us know! Thank You! |
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}ubgupvoted (1.00%) @arumugam / china-ico-ban-impact-on-the-global-ico-market2017/09/05 03:43:24
ubgupvoted (1.00%) @arumugam / china-ico-ban-impact-on-the-global-ico-market
2017/09/05 03:43:24
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}classypalaniupvoted (100.00%) @arumugam / china-ico-ban-impact-on-the-global-ico-market2017/09/05 03:24:45
classypalaniupvoted (100.00%) @arumugam / china-ico-ban-impact-on-the-global-ico-market
2017/09/05 03:24:45
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2017/09/05 03:24:30
| author | arumugam |
| body | yes, I know it. but the news should reach most people. |
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2017/09/05 03:22:45
| author | cheetah |
| body | Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in: https://www.cryptocoinsnews.com/china-bans-ico-successfully-completed-icos-to-return-funds-to-investors/ |
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}cheetahupvoted (0.50%) @arumugam / china-ico-ban-impact-on-the-global-ico-market2017/09/05 03:22:42
cheetahupvoted (0.50%) @arumugam / china-ico-ban-impact-on-the-global-ico-market
2017/09/05 03:22:42
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}arumugampublished a new post: china-ico-ban-impact-on-the-global-ico-market2017/09/05 03:22:24
arumugampublished a new post: china-ico-ban-impact-on-the-global-ico-market
2017/09/05 03:22:24
| author | arumugam |
| body | People’s Bank of China, the central bank of the country, has officially declared initial coin offerings (ICOs) as an illegal method of raising money. In an official statement, the PBoC announced that organizations and individuals are no longer permitted to conduct ICO campaigns and token sales. Blockchain projects and startups that have recently completed their ICO campaigns were requested by PBoC to refund bitcoin and Ethereum raised during their ICOs to protect investors. CnLedger, a local bitcoin and cryptocurrency news source, wrote: “PBoC bans ICOs. From now on, no organizations and persons in China are allowed to raise funds via ICOs. Fund-raising platforms are not allowed to provide trading and exchange services. Raised funds should be ‘cleared up’ and refunded to protect investors.” Several blockchain projects including Health Mutual Society have already refunded all of the funds they have raised in bitcoin and Ethereum over the past few months. The Health Mutual Society development team said in a statement: “To cooperate with relevant ministries in China in the investigations and the reorganization, HMS hereby decides to cancel the ICO on ICOINFO and put further operation on hold indefinitely. The fund collected will be returned to supporters’ accounts. The refund schedule will subject to ICOINFO’s announcement.” The impact of the Chinese government’s abrupt crackdown on ICOs and strict regulation of the market has been evident on the price trend of Ethereum, bitcoin and the entire cryptocurrency market. The market cap of Ethereum declined by a staggering $6 billion within a 24-hour period, while bitcoin price dropped by $200. What Will Happen With the Global ICO Market? With the US Securities Exchange Commission (SEC) and the PBoC launching full investigations to any company, organization and individual raising funds through ICOs and token sales, the global ICO market and ecosystem will likely change drastically in the upcoming months. Like EOS, the most successful ICO in history which raised over $180 million during its campaign, the vast majority of blockchain startups will relocate to Switzerland and other countries like the UK that have friendly regulations toward blockchain companies. In its ICO campaign, EOS published a document entitled “Token Purchase Agreement” which read: “EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, expressed or implied. Although EOS Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security, or commodity or any kind of financial instrument.” That specific statement from the EOS development team rid the startup of any potential conflict with the SEC along with its strict policy that did not allow US-based or accredited investors to take part in the EOS ICO campaign. Chinese blockchain startups can follow the roadmap of EOS and relocate to more regulation-friendly countries. With strict guidelines that disallow investors from the US and China in participating in ICOs, blockchain startups can safely, without running in conflict with financial regulations and policies, conduct ICO campaigns. In May, Bitcoin and security expert condemned central banks and government entities that were preventing bitcoin and cryptocurrency startups from making progress and growing at a rapid pace. At the time, Antonopoulos noted: “Governments can choose to either do nothing – which is okay; make things worse for cryptocurrency trading – like what Australia did by imposing sales taxes on all cryptocurrency transactions; or they can make things easier for companies by reining in the banks and encouraging companies by creating a level playing field.” A similar situation may occur with China and the US. Within the next few months, blockchain startups will simply leave the two countries and complete their ICO campaigns elsewhere. |
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| permlink | china-ico-ban-impact-on-the-global-ico-market |
| title | China ICO Ban - Impact on the Global ICO Market |
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"body": "People’s Bank of China, the central bank of the country, has officially declared initial coin offerings (ICOs) as an illegal method of raising money. In an official statement, the PBoC announced that organizations and individuals are no longer permitted to conduct ICO campaigns and token sales.\nBlockchain projects and startups that have recently completed their ICO campaigns were requested by PBoC to refund bitcoin and Ethereum raised during their ICOs to protect investors. \n\nCnLedger, a local bitcoin and cryptocurrency news source, wrote:\n“PBoC bans ICOs. From now on, no organizations and persons in China are allowed to raise funds via ICOs. Fund-raising platforms are not allowed to provide trading and exchange services. Raised funds should be ‘cleared up’ and refunded to protect investors.”\n\nSeveral blockchain projects including Health Mutual Society have already refunded all of the funds they have raised in bitcoin and Ethereum over the past few months. \n\nThe Health Mutual Society development team said in a statement:\n“To cooperate with relevant ministries in China in the investigations and the reorganization, HMS hereby decides to cancel the ICO on ICOINFO and put further operation on hold indefinitely. The fund collected will be returned to supporters’ accounts. The refund schedule will subject to ICOINFO’s announcement.”\n\nThe impact of the Chinese government’s abrupt crackdown on ICOs and strict regulation of the market has been evident on the price trend of Ethereum, bitcoin and the entire cryptocurrency market. The market cap of Ethereum declined by a staggering $6 billion within a 24-hour period, while bitcoin price dropped by $200.\n\nWhat Will Happen With the Global ICO Market?\nWith the US Securities Exchange Commission (SEC) and the PBoC launching full investigations to any company, organization and individual raising funds through ICOs and token sales, the global ICO market and ecosystem will likely change drastically in the upcoming months.\nLike EOS, the most successful ICO in history which raised over $180 million during its campaign, the vast majority of blockchain startups will relocate to Switzerland and other countries like the UK that have friendly regulations toward blockchain companies. \n\n\nIn its ICO campaign, EOS published a document entitled “Token Purchase Agreement” which read:\n“EOS Tokens do not have any rights, uses, purpose, attributes, functionalities or features, expressed or implied. Although EOS Tokens may be tradable, they are not an investment, currency, security, commodity, a swap on a currency, security, or commodity or any kind of financial instrument.”\nThat specific statement from the EOS development team rid the startup of any potential conflict with the SEC along with its strict policy that did not allow US-based or accredited investors to take part in the EOS ICO campaign.\nChinese blockchain startups can follow the roadmap of EOS and relocate to more regulation-friendly countries. With strict guidelines that disallow investors from the US and China in participating in ICOs, blockchain startups can safely, without running in conflict with financial regulations and policies, conduct ICO campaigns.\nIn May, Bitcoin and security expert condemned central banks and government entities that were preventing bitcoin and cryptocurrency startups from making progress and growing at a rapid pace. At the time, Antonopoulos noted:\n“Governments can choose to either do nothing – which is okay; make things worse for cryptocurrency trading – like what Australia did by imposing sales taxes on all cryptocurrency transactions; or they can make things easier for companies by reining in the banks and encouraging companies by creating a level playing field.”\nA similar situation may occur with China and the US. Within the next few months, blockchain startups will simply leave the two countries and complete their ICO campaigns elsewhere.",
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2017/09/04 17:25:54
| author | arumugam |
| body | $3600 |
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2017/09/04 17:22:45
| author | arumugam |
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2017/09/04 17:11:48
| author | arumugam |
| body | It may come to $3600 then turn to go up. |
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| permlink | re-jrcornel-bitcoin-tops-usd5-000-and-then-promptly-sells-off-10-20170904t171148583z |
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}arumugamupvoted (100.00%) @eosio / block-one-statement-regarding-proposed-changes-to-prc-law2017/09/04 17:08:51
arumugamupvoted (100.00%) @eosio / block-one-statement-regarding-proposed-changes-to-prc-law
2017/09/04 17:08:51
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}arumugamupdated their account properties2017/09/04 17:04:54
arumugamupdated their account properties
2017/09/04 17:04:54
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