What is Bitcoin? Bitcoin Explained Simply (2020 Updated)

Contribution quantifying model and prevent centralization of power

Original post: https://medium.com/iconviet/contribution-quantifying-model-and-prevent-centralization-of-power-f4d0b70a196
Solving contribution puzzle and introduction of ContributionDAO. How it could deal with the public enemy of every blockchain ecosystem: centralization of power.
It explores following topics:
I wrote with the love for ICON and many years of experience in crypto/blockchain space as well as a long exposure to political theory. You know, blockchain is a beautiful combination of economic, politic and technology. But it will become ugly if not being done properly in the first days.

Can contribution be quantified ?

This question should be started with another one: how do we define contribution ? We cannot quantify something without identifying it first.
But there are many answers, very biased ones you know. Anyway, at the end of the day, we must come to a consensus on how we could identify contribution. In my observation, the consensus is "anything help to bring value to ICON network, it could be counted as contribution"
Now here comes another question, how do we know that some activity will bring value to ICON network ( and ICX price ) ? Well, just use common sense alone, I can make a list like following
That is my list, there are many more for sure, it depends on your experience and perspective. As long as you can explain how your activity could bring value to ICON, and if community accept it, then it is contribution. Subjectivity is the nature of the game.
At this point, assume that we can identify contribution ( or we think something may be a contribution ), how to quantify them ? How to determine how big, how important, how significant that contribution is ? Again, subjectivity is still around here. There is no universal truth at all. Each ICONist probably has a subjective view on the significance of some specific contribution. It makes us hard to quantify contribution reliably, so what should we do ?

A heuristic technique to quantify contribution

So, do we must live with it ? Even ICON Foundation does not give us any strong set of rule on this quantification problem. Is it that sad ? Is it the end ?
Not really, no way we are in dead end here, we never surrender. In fact, I strongly believe that we just need to use common sense and community wisdom, combine with verifiable proof of finished contribution and one well designed DAO for overseeing them, we could come to a good enough heuristic method to quantify contribution.
Wait a minute, what does heuristic mean ?
"A heuristic technique, often called simply a heuristic, is any approach to problem solving or self-discovery that employs a practical method that is not guaranteed to be optimal, perfect or rational, but instead sufficient for reaching an immediate goal." - Wikipedia

A special DAO for overseeing contribution ( ContributionDAO )

To quantify PRep contribution, the heuristic framework could be like this
ContributionDAO does not guarantee an absolute objective quantification of contributions, but it could be a useful weak-subjective quantitative tool for community to determine the significance of contributions done by PReps. In the beginning, all ICONists have the right to evaluate and vote for the meaningful contributions, but if they keep voting blindly, irresponsibly and against majority, their CNTR holding will be burnt to zero gradually and they will lose their right eventually.
Note that, beside the initial CNTR distribution by airdrop, anyone can still buy CNTR on open market if there is seller, but that is another story I will go more deeper in ContributionDAO light paper. Just a hint, it relates to governance economic.
Yeah, governance activities could form a whole economy of their own. This game will be interesting.

Every form of centralization is disfavored in public networks

Why ?
In simplest explanation, community support is de facto force for the success of every public open projects ( public blockchain is one of them ). In order to secure community support, the project must belong to community first. By nature, centralization in all forms is against community interest, it will result in gradually decreasing of community activity and ultimately, the dead of project ( or zombie state )
If you still have a vague idea on the importance of community, please take a look at Bitcoin and Ethereum, they are the ones with strongest community support so far. Developer adoption will come naturally with huge community and decentralization. We all see the fact that no one want to build on a centralized authoritarian network.
\* If someone want to bring Binance as counter argument here, please consider the short term benefit of being listed on Binance itself, it has nothing to do with the merit of a truly open and decentralized blockchain project. You know what I mean, right ?*

The power of early adopter and contributor

There are always pioneers in every community, nothing new here. There must be first contributors and adopters who take risk and invest their time into something still being in nascent stage. Yeah, those people really deserve a huge reward.
But the problem here is, that "huge reward" is usually come in form of soft power. It means they possess a huge influence to community. Sometime, it is the hard power, especially in blockchain, if they hold a lot of token and being the owner of big business running on the network. Either accidentally or intentionally, the power is centralized in their hand.
Note that, I don't assert them to be bad actor here, absolutely no. In fact, they could be good actor and still possess a huge power somehow. Anyway, centralization of power is still centralization.

What we could do in early stages to avoid the fate of crypto-dystopia

In my opinion, the first thing we as ICONist should do is make sure we vote for the right PReps as they are the ones with immense power on ICON network. However, wisely voting alone is not enough, we must make sure power is not centralized in their hand ( even for good and ethical PReps ).
With ContributionDAO, we will soon have a single one portal which provide more comprehensive and more details data source to research about PRep contribution. The good news is that portal will be governed in a decentralized manner from the first day.
No more time consuming digging and searching for contribution detail of PReps, it will save a lot of time when there are more and more PReps joining the game.
I hope that ContributionDAO could help more ICONists to participate in ICON network governance by providing better tool and data source, as well as economic incentive. The more ICONists actively research and vote for right PReps, the better ICON network will be in long term.
It is time for wrapping everything up. We should know that ContributionDAO is just a tool, ultimately everything is up to ICONists. If ICONists choose to play selfishly for short term benefit, nothing can save ICON from destruction. But if we - all ICONists - decide to care more about ICON future, I believe ContributionDAO will be able to help us.
I am a member of ICONVIET team and also an ICONist myself. I and ICONVIET strongly believe that beside DApps building and business development, contribution in governance design and proposal is also very important. Therefore, ContributionDAO will be one of our main projects after decentralization.
** UPDATE_1, thank everyone for feedbacks :)
The purpose of ContributionDAO is make sure every contribution is showed clearly, compactly and quantitatively. It can help to avoid the vague effect of heavily-marketing-buzzword when PReps announce their contribution.
It could be used as a tool for official democratic voting provided by ICON which reflect the final decision of ICONists.
Thank you for your support :)
@duyyudus - ICONVIET
submitted by duyyudus to helloicon [link] [comments]

COSS Exchange and COSS Token - A Full Summary

Let me get started by stating I am no way involved with the COSS team. I simply am a COSS holder who wants to share this coin with others. Please note, I am writing this without an opinion and just stating facts (I will include a portion below with my opinions and an explanation of my thought process). Everything I say can be double checked with some DD and if I have time, I will come back and link said facts!
What is COSS?
What does COSS do?
What is the payout formula?
When are payouts?
How do you receive payouts?
What is the total supply?
What is the current marketcap?
Where can I buy COSS?
My opinions:
1) COSS, based on numbers, is simply undervalued. For a token that already has an existing functional product, its marketcap is well below what it should be. Trading volume has also increased significantly in the past few days! Imagine receiving profits from an exchange like Bittrex or Binance I urge you to browse their website and look at everything for yourself to make your own judgement!
2) There is a lot of work to be done on the exchange, but it is just getting started and is still in Beta. Good things take time. I remember when Binance first began and the struggles it went through, and look at it now. I have faith COSS can do that same. Currently, the things I believe that need to be fixed are exchange UI upgrades to make them more appealing to the eye and deposit/withdrawal times.
3) There is a lot of concern about COSS being a scam due to the team's association with VRS. I definitely had to look into this and found that Rune, on of the founders, addressed this concern. For me it was a satifactory explantion stating that VRS was not a scam, but a failed project. Please read bullet 4 to get the link to the full statement and other FAQ's
4) There are tons of FAQ's and known issues that are being asked about COSS. These two links pretty much cover them all at the moment. Each link has some different information, so please read both!
FAQ - 1 https://www.reddit.com/COSS/comments/74pw7h/all_info_to_clear_up_confusion/?st=j8gjl9jz&sh=b777583e
FAQ - 2 https://www.reddit.com/COSS/comments/7471mv/fqa_for_coss/?st=j8gawdbq&sh=d4cf9518
If you would like to register for COSS, please use the link below!
https://sso.coss.io/api/invite/C1IEVF318Q
If you would like to join the Slack, please use the link below!
https://join.slack.com/t/cosstokenswap/shared_invite/enQtMjUxNDc0ODE4NzU5LTNiNmQ1NjYwOTM3N2QyMDg0MGE3ZDkwMjZmOWFiNjdlMzM2YTk1NmY2NGZiZjg3NmQ4ZjE4Y2YwZjJmOGE5NTM
submitted by ychok to CryptoCurrency [link] [comments]

Curation list of 20 of the most informational posts about cryptocurrency and the blockchain on reddit.

Hey guys!
 
As many of you know, crypto reddit is a fairly large and active place. Because of this, a large amount of useful and informative content gets buried under.. well, a pile of much less useful and informative content, to put it politely.
 
To help remedy this, we went ahead and cultivated what we felt were some of the most informative, well though out, and useful posts within the space.
 
That being said, please understand that the posts listed below do not neccasarily reflect the opinions of Coin Crunch. We try to stay as unbiassed and factual as possible, and do our best as to not play favorites.
 
If any of you believe the content we've selected to be more harmful than good, please reach out to us, and we will take it into consideration.
 
Thank you and enjoy!
 
Cryptocurrency -
  1. Post providing detailed insight on how crypto prices work and move within the market - Post by u/suuperdad
  2. Post on how to create an Excel portfolio tracker that draws live prices and coin data from coinmarketcap.com - Post by u/arsonbunny
  3. Post reminding you to stay diligent in using exchanges. Fake sites are out there people, dont let yourself get scammed. Make sure you check and check again. -Post by u/davidroberts45
  4. Post explaining sell walls, what they are and how the work, in detail -post by u/Tilted_Till_Tuesday
  5. Post providing useful list of websites, tools, and resources - Post by u/ninjasoar
  6. Post outlining over 100 cryptocurrencies in 4 minutes or less per coin - Post by u/CryptoTrends
  7. Lesson outlining the potential risks that investing in cryptocurrency can entail - Post by u/Sly21C
  8. 3 fundamental valuation models for Bitcoin. - Post by u/arsonbunny
  9. Lessons on understanding Bitcoin futures - Post by u/arsonbunny
  10. Why you should stop loss-hunting - Post by u/CaffeineIsMyHerroin   Blockchain -
  11. Use cases for blockchain infographic - Post by u/Percocet6
  12. 3,500 word guide to Blockchain - Post by u/PamelaPatience
  13. Crypto and Blockchain dictionary - Post by u/decryptionary
  14. Guide to getting started on building your own blockchain using Python - Post by u/aalethela
  15. Jargon free explanation of blockchain technology - Post by u/PurpleWho
  16. Basic tutorial on building an Ethereum smart contract - Post by u/yhuag
  17. TED talk on how Blockchain might completely change the economy and society - Post by u/FreightWaves
  18. Simple explanation on how what crypto wallets are and how they work - Post by u/LongonGravity
  19. Presentation by Goldman Sachs about the applications of blockchain - Post by u/igor14
  20. Building your own blockchain with 20 lines of java script - Post by u/geraldbauer
 
Make sure to check out u/coincrunchio for more HQ content about all thing crypto and the blockchain : )
submitted by coincrunchio to u/coincrunchio [link] [comments]

[uncensored-r/CryptoCurrency] COSS Exchange and COSS Token - A Full Summary

The following post by ychok is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/74rjfo
The original post's content was as follows:
Let me get started by stating I am no way involved with the COSS team. I simply am a COSS holder who wants to share this coin with others. Please note, I am writing this without an opinion and just stating facts (I will include a portion below with my opinions and an explanation of my thought process). Everything I say can be double checked with some DD and if I have time, I will come back and link said facts!
What is COSS?
  • coss.io stands for Crypto One Stop Solution. Essentially, COSS is doing a lot. From their own exchange, to their own markets, a payment gateway for businesses to accept crypto as payments, and even more planned on their roadmap, COSS has a lot on their plate. The ICO ended a few days ago at a rate of 1 ETH for 6000 COSS making the price about 5 cents a COSS.
What does COSS do?
  • Well as an exchange (no its not decentralized), COSS charges fees for trading. COSS also charges fees for their marketplace or using their payment gateway plug-ins. 50% of the total revenue they obtain is distributed to the COSS tokens weekly. The way it works is that the crypto that was received in revenue as a fee is what is distributed. Example: If the total trading volume on the exchange is 100,000,000 for the week and Ether was 20% of that volume and BitCoin was the other 80%, the payout will be 80% in bitcoin and 20% in ether.
What is the payout formula?
  • [(Daily Trading Volume) x 7 x 0.002 x 0.5]/93 mil = payout per coin. Multiply this by how many COSS you hold for the value of your payout, but remember the payout will be in a plethora of coins that are traded on COSS!
When are payouts?
  • Payouts occur EVERY Sunday (weekly), with the first payout to be this Sunday (October 8th). I am not sure what time of day this will occur.
How do you receive payouts?
  • The simplest way to receive payouts is by holding COSS tokens in your COSS wallet on coss.io
  • You can receive the payout if you hold COSS on MEW, but it requires additional steps in order to have those coins be a part of the payout. If you use MEW you need to do a bit of configuration. Use this tutorial: https://coss.io/coss-token-revenue-share-tutorial
What is the total supply?
  • Currently, the circulating supply is 93 million. 80 million of this 93 million are token holders, 10 million is set aside such that the revenue generated by these 10 million tokens goes to charity, and the last 3 million are used by the team to payout bounties and such. (Coinmarketcap has yet to be updated, request has already been sent in)
What is the current marketcap?
  • At a rough price of 15 cents per coin, the marketcap for COSS is around 14 million
Where can I buy COSS?
  • At the moment, COSS is being traded on coss.io, etherdelta, and HitBTC
My opinions:
1) COSS, based on numbers, is simply undervalued. For a token that already has an existing functional product, its marketcap is well below what it should be. Trading volume has also increased significantly in the past few days! Imagine receiving profits from an exchange like Bittrex or Binance I urge you to browse their website and look at everything for yourself to make your own judgement!
2) There is a lot of work to be done on the exchange, but it is just getting started and is still in Beta. Good things take time. I remember when Binance first began and the struggles it went through, and look at it now. I have faith COSS can do that same. Currently, the things I believe that need to be fixed are exchange UI upgrades to make them more appealing to the eye and deposit/withdrawal times.
3) There is a lot of concern about COSS being a scam due to the team's association with VRS. I definitely had to look into this and found that Rune, on of the founders, addressed this concern. For me it was a satifactory explantion stating that VRS was not a scam, but a failed project. Please read bullet 4 to get the link to the full statement and other FAQ's
4) There are tons of FAQ's and known issues that are being asked about COSS. These two links pretty much cover them all at the moment. Each link has some different information, so please read both!
FAQ - 1 https://www.reddit.com/COSS/comments/74pw7h/all_info_to_clear_up_confusion/?st=j8gjl9jz&sh=b777583e
FAQ - 2 https://www.reddit.com/COSS/comments/7471mv/fqa_for_coss/?st=j8gawdbq&sh=d4cf9518
If you would like to register for COSS, please use the link below!
https://sso.coss.io/api/invite/C1IEVF318Q
If you would like to join the Slack, please use the link below!
https://join.slack.com/t/cosstokenswap/shared_invite/enQtMjUxNDc0ODE4NzU5LTNiNmQ1NjYwOTM3N2QyMDg0MGE3ZDkwMjZmOWFiNjdlMzM2YTk1NmY2NGZiZjg3NmQ4ZjE4Y2YwZjJmOGE5NTM
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

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