Using Bitcoin or another Altcoin for Decentralized Database Storage

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Yes there have been some proposed ideas such as FileCoin, Storj and probably others. However, I'm not sure how well these systems work because there would need to be a way to prove to other peers that you actually are serving the piece of data. Some call it proof-of-storage, others proof-of-retrievability. But it's still an open problem that nobody seems to have solved yet. I mean, this is probably why both projects I mentioned above aren't ready yet.

From a technical point of view the idea of a P2P storage system is that if you upload a piece of content on this cloud, you'd expect it to be there all the time. That's the whole point of a cloud; you upload it, and can download it from anywhere in the world at any time. I'm not sure that P2P is a good solution to this issue. A client-server model, from an entity that you trust and pay directly which has reputation (say Dropbox), is probably a better mechanism of doing this.

In a P2P system, all the nodes that were...

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Blockstack is a new ecosystem of decentralized applications (dapps), which allow users to store their own data locally and connect with one another in a direct, encrypted manner. On the latest episode of “The Bitcoin Game,”Blockstack Co-founder Ryan Shea explained how this new ecosystem of dapps works and why it’s important.

“We’re taking a look at how the internet has become so consolidated,” said Shea. “We’re so reliant upon a very small set of companies, and there are so many external dependencies. We essentially are reliant upon Facebook, Google and Amazon just to use the internet. In a sense, they are the internet.

“They are the lords, and we are the serfs,” Shea added.

According to Shea, the original vision of the internet was much more decentralized than how it is structured today....

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After several weeks of public testing, we are now ready to proudly announce the productive release of HZxchange!

The project

HZxchange is a decentralized cryptocurrency exchange with distributed storage. We currently allow the trading of Bitcoin, Litecoin, DASH, Cannabiscoin, Potcoin, NXT and Bitshares. More coins will follow soon.

The reason

Everybody knows that the old centralized exchange model has seen its best days. Hacks and scams have become everyday-business because although we want freedom from central authorities, we still had to trust single individuals, which often even weren't even known by real name.
With regulations kicking in, decentralization keeps you from giving your ID to a company you know nothing about. HZxchange is transparent, but still anonymous. You decide for yourself who you want to give information about your account to.

Security

Your funds are stored decentralized on multisig addresses, making it...

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Blockchain is not just a decentralised database, but it is much more than that. While the original Bitcoin blockchain allowed only value to be transferred, along with limited data with every transaction, several new blockchains have been developed in the past 2-3 years, which have much more advanced native scripting and programming capabilities.

Apart from the Bitcoin blockchain, I would say that there a few other major blockchains like Ethereum, Ripple, R3's Corda, Hyperledger. Although Ethereum has a crypto-currency called Ether, it is actually a Turing complete EVM (Ethereum Virtual Machine). Using Ethereum, you can create Smart Contracts that would themselves run in a decentralised manner. As a developer, it opens up completely new avenues for you and changes your perspective of writing programs. While Ripple is mainly geared towards payments, Corda and Hyperledger are built with a view of being private/permissioned blockchains, to solve the issues such as scalability,...

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This thread is a continuation of the original v1 Bitcoin thread.

https://forum.lowyat.net/topic/3051328

An Overview Guide to Investing in Cryptocurrencies in Malaysia (courtesy of @kmarc)

A friendly warning before you proceed
If you're new to cryptocurrencies, then welcome to the world of cryptocurrencies!!! Before you proceed further, if your intention is to invest in cryptocurrencies, please be informed that cryptocurrencies are VERY high-risk high-return investments. If you have the money, you can earn a lot but you can also lose all and CRASH & BURN! You need to do your own research and make up your own strategy including the important exit strategy i.e. when to cut your losses.

In general, for safe conservative investors, it is advisable to allocate not more than 10% of your funds to high-risk instruments such as cryptocurrencies.

Enter AT YOUR OWN RISK and if you lose your money, it is NOBODY's fault but yours! You have been...

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Core Functions

Is Bisq safe and Open Source?
There are already other decentralized exchanges. How is Bisq different?
Which payment methods are supported?
Which altcoins are supported?
How can I get support for my favorite altcoin?

Trading Details

When will I be able to buy or sell real bitcoins?
How does Bisq protect my privacy?
How long does a trade take?
How much does it cost to trade on Bisq?
Why do I need to keep my application online when I have an open offer?
How can I edit my offer?
Will my bank know I’m buying bitcoins?

Dispute Resolution

What is an arbitrator?
How does the arbitration process work?
How is collusion between arbitrators and traders prevented?
What happens if the person buying bitcoin does a chargeback on their national currency after the bitcoin has been released from the multisig escrow?
Wouldn’t a pure reputation system among traders make arbitrators...

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What node monetization does is change the reason for an individual to be running a node / participating in the network from a means to add value to the network, to a means to subtract value from the network.

Imagine I'm a free thinking individual willing to partake in a money of which the control lies not with a single entity but all those who participate.

I believe to have found such a money, but the cost to participate in it is prohibitively high. To remedy this, the other participants of the money are donating me a little bit of it, in order to include me in the network.

Beyond this being economically infeasible to support for all of the money's participants, my participation in that network is now dependent on the chunk of money donated to me by it, and as such, any changes to that donation - internal or external - change my relation with the money such that any control I have over it is reliant on the donation. Remove the donation, and my means of control...

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Bitcoin's utility as a payment method abroad depends on your destination and what you are trying to do. Yes, you can use bitcoin anywhere that accepts it, and the number of brick and mortar shops accepting it is growing fast, but from a very small base. The best way to find out which shops accept bitcoin is by asking locals on boards like Reddit, ahead of time.

Right now if you have a credit card, debit card and bank account, the combination of cash (from a local ATM or changed at a bureau de change) and credit card will cater to most travellers needs and one or other will be accepted in most places you go. Although fees ae involved, you will be sheltered to some extent to exchange rate risk if you periodially take foreign money out of ATMs when you need it.

However your purpose is to move large amounts of money across borders, then credit cards won't help as you will be up against your credit limit. Bitcoin could help, but only if the person you are giving it too will accept...

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This page compares and reviews the best Bitcoin wallets available today

As a general rule, Bitcoin hardware wallets are the most secure form of Bitcoin wallets, however, unlike software wallets, they cost money. If you’re serious about securing your Bitcoins go for a hardware wallet. If however you’re only storing a small amount of coins you can use one of the free software wallets shown on this page.

Ledger Bitcoin wallet review

Summary: Much like TREZOR, Ledger is a cold wallet designed for users who want increased security. The wallet is actually a physical device that connects to your computer and acts as another source of protection. Meaning, you can’t send Bitcoins from your wallet without owning the physical device. If you’re looking for a cold wallet (e.g Ledger or TREOZR) I’ve compared the two in this post.

Ledger offers a variaty of products such as Ledger Nano S, Ledger Unplugged (a contactless Bitcoin wallet), etc. The most popular model...

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Bitcoin is a decentralized electronic cryptocurrency created in 2008 by Satoshi Nakamoto. The word “decentralized” means that Bitcoin has no central servers for transaction processing or storage of funds. Emission of Bitcoins is limited as it cannot exceed 21 million Bitcoins. According to calculations Bitcoin production will end in 2140.

Bitcoin transactions and its emission are regulated by an extensive peer-to-peer network. Bitcoin uses a distributed public universal database spread through a decentralized peer-to-peer network that uses digital signatures and is supported by a proof-of-work protocol to ensure security and legitimacy of funds in use.

Bitcoin is the most widespread cryptocurrency. Its total market value is over $10 billion. One can exchange, buy or sell Bitcoins on many sites. Despite the fact that using Bitcoin does not formally require user identification, the currency is not completely anonymous.

Main page: Bitcoin

See also: Bitcoin FAQ...

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Bitcoin might be the name on everyone’s lips right now, but did you know that Bitcoin is merely the tip of the cryptocurrency iceberg? For those not in the know, cryptocurrencies are basically decentralized and anonymous (or, at least, pseudonymous) peer-to-peer digital currencies that implement cryptography as a central security feature. Cryptocurrency coins are “mined” with computers by solving complex mathematical equations called “hashes”.

The success of Bitcoin has led to the development of many alternative cryptocurrencies, often called “altcoins”. Most of these altcoins offer their own take on the Bitcoin protocol, and are interesting in their own right. It helps, too, that most of these are still cheap and much easier to buy or mine.

Of course, there’s no guarantee that any of these altcoins will ever be as successful or as valuable as Bitcoin, but if you’ve been kicking yourself for missing the Bitcoin boat, you could do worse than check out one (or more) of...

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Not that this is the latest breaking news by any means, but as of late, these coins are beginning to permeating their way into the limelight with the recent rise of altcoins. Imaging storing your valuable files where data is stored on multiple computers, hosted by the participants cooperating in the cloud. You data is fragmented and encrypted befre leaving your computer, hen distributed randomly using a distributed workload, or geo-distribution algorithm to spread them amongst other hosts in the cooperative. Coins like Sai and Storj accomplish this using a blockchain where a cryptocurrency is backed by storage. Imageine a world with cloud storage with ultimate privacy. Personally I think this is a teriffic idea. Unquestionably, these coins are something to look into now while the price is cheap.

...Although I do believe that Satoshi was a time traveler, I also believe that the he was a wizard in trouble who traveled back in time to leave his Horcrux in the The hash of...

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Image: Electrum lightweight wallet supports not only BTC. There are forks for ETH and DASH too.

And right off the obligatory annoying reminder: You must be reading this all the time, but still: Never keep untraded coins on an altcoin exchange and never send coins from one exchange to another.

And as the second thing, quick sum up for those who don’t want to read:

Your best bets

Everyone’s Favorite: The Ledger Hardware Wallet for bitcoin and altcoins, specifically, the Ledger Nano S. It is not expensive (but come on, you must have earned the fortune of your lifetime in 2017 already) and the code is fully opensource. Buy directly from ledgerwallet.com.

Coins: Bitcoin, Ethereum, Ethereum Classic, Dogecoin, Litecoin, Zcash, Dash, Ripple, Stratis and all Ethereum tokens available with myetherwallet.com.

The best desktop+mobile wallet: If you really insist, get jaxx for free from Jaxx.io.

Coins: BTC, ETH, ETC, DASH, LTC, REP, RSK, ZEC.

Now for...

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Nigel Dollentas · March 12, 2015 · 3:00 pm

Burst is a emerging cryptocurrency that seeks to solve the problem many consumers have: a way to have cheap, yet secure, cloud file storage. Cryptocurrency and its decentralized nature will allow both users to receive financial incentive for renting out some of their hard drive space, but also benefit from a easily accessible storage system. Bitcoinist talked to the Burst Team regarding Burst and what decentralized file storage really means.

1. What differentiates Burst from other cryptocurencies?

BURST is easily differentiated from myriad other cryptocurrencies. Firstly, it is the world’s first Proof of Capacity Coin, and secondly, it is currently the only coin to have working Turing-complete smart contracts in a live environment. Proof of capacity was fully developed by the original developer, going by the name...

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