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Bitcoin Price Analysis: Bitcoin’s Parabolic Envelope Could Push to $8000s

November 2, 2017 Bitcoin Schmitcoin 0

Bitcoin Price Analysis

Bitcoin has had a quite a year thus far, to say the least. A 10x return since the beginning of the year has put bitcoin on a parabolic growth path that is testing the limits of this 2-year long bull market:

Figure_1 (17).JPGFigure 1: BTC-USD, 3-Day Candles, Parabolic Growth Envelope

The gains have been incredible for those trading bitcoin for the last couple years, and it appears that this parabolic envelope is coming to a close. In order for this bull market to remain viable, it will need to keep up on a very aggressive, parabolic growth path that has the immediate upper resistance at between $8,000 – $9,000. Similarly, the lower support is around $5,800.

A break of either the support or resistance will put bitcoin in a very precarious position. If bitcoin breaks the upper, parabolic resistance trend and manages to find support on the trendline, this could signal an entirely new bull market. However, if bitcoin breaks the lower support, this would send a very, very bearish signal to traders, indicating a breakdown of the 2-year long bull market.

Given the trend we have seen over the last two years, it would not be at all surprising to see a test of the $8,000s before any sort of market correction (micro or macro) takes place. We are on a very aggressive growth path and, on a macro-scale, one that has has shown a consistent trend of testing the upper curve prior to correction.

This is a very strong bull market and it it should not be underestimated. However, in an effort to remain objective, it’s important to present the not-so-obvious argument and state the consequences of a disruption of this macro bull market.

Figure_2 (14).JPGFigure 2: BTC-USD, 1-Day candles, Retests of Previous All-time Highs

Throughout the life of this parabolic run, bitcoin has shown a penchant for retests during market pullbacks. We can see in the image above that every time the market peaks the upper resistance curve, it has pulled back to retest the previous all-time high before the resumption of uptrend. Part of the consequences of this parabolic growth is we are at a point where the growth is so aggressive that a retest of the previous all-time high would throw the market trend well outside the parabolic envelope. And, as stated above, that would send a very strong macro bearish signal to traders and investors as this marks a breakdown of the 2-year long trend.

Summary:

  1. The parabolic trend bitcoin has seen over the last two years is approaching a very aggressive level that could make bitcoin see aggressive price swings in the coming weeks.

  2. The upper boundary of the parabolic curve could have bitcoin testing the $8,000s.

  3. A break below the lower curve could spark a macro bear market as this signals the breakdown of the bull market’s multi-year trend.

Trading and investing in digital assets like bitcoin and ether is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information on Bitcoin Magazine and BTC Media related sites do not necessarily reflect the opinion of BTC Media and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

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Confideal’s Crusade to Harness the Power of Smart Contracts

November 2, 2017 BTC STUDIOS 0

Confideal Thumb

In his book “Down The Rabbit Hole: Discover The Power of Blockchain,” author Tim Lea
highlights the evolution of smart contracts and their use ensuing from the
blockchain.

“The term smart contract was first coined by a
computer scientist Nick Szabo,” Lea writes. “In his 1996 article in the
magazine
Extrophy, he broadly described a smart contract as the
ability to bring refined legal practices of contract law to the e-commerce
protocols between strangers and the internet.”

In their most basic form, smart contracts are
self-executing contracts that function within mutually agreed upon terms
between two or more parties. These agreements, which are written into lines of
computer code, exist as part of a
distributed, decentralized blockchain network facilitating the
automatic execution of contractual terms with no further involvement from any
of the parties involved, including external third-party intermediaries.

This disruptive approach runs counter to the prevailing tradition of
drafting and enforcing deals through involvement with external players like
banks, lawyers and escrows. This practice is both time consuming and costly,
especially in cases involving overseas deals. While smart contract
technology helps to overcome these and other administrative and legal
roadblocks, a complex set of programming skills are required to draft
blockchain-based digital contracts.

Enter Confideal

One company that’s making major inroads in this new
age of smart contracts is
Confideal, a platform for
managing and enforcing smart contracts. Based in Ireland, a hub for crypto
adoption in Europe, Confideal is forging a path toward the removal of barriers
to digital transactions throughout the world. The company champions
transparency, opening up essential business tools to those without legal or
coding skills.

Confideal is a service designed for a wide audience
from individuals to business owners, and available for everyone,”
said Petr Belousov, Confideal’s founder and
CEO.

“Our ultimate goal is mass adoption of blockchain among real sector businesses worldwide.”

Because Confideal’s data is encrypted and
protected by the Ethereum blockchain, the immutability of the agreement terms
is assured. In addition, Confideal offers the following value propositions:
 

    
An internal arbitration module with top-rated arbiters
and unbiased ratings. Arbiters selected to resolve a dispute on the Confideal
platform are either a qualified third-party legal firm or a professional.

    
A smart contract management option that provides
full control over transactions (e. g. close deals, end them, set up fines and
down payments).

    
Cryptocurrencies are utilized to eliminate all
payment barriers. No need for intermediaries which results in lower costs.

With the groundbreaking advancements of blockchain
technology,
Confideal is on a
steady path to bridge the gap between the smaller circle of computer
programmers and coders who understand the inner workings of the technology and
the larger population of average, everyday users. With efforts to move smart
contracts toward mainstream adoption, efficient models of user interface become
vital. With Confideal’s efforts as a visual smart contract builder, it’s clear
that momentum in this space is heading in the right direction. Of course,
Confideal is not only about the builder itself. The three main features of
Confideal are: smart contracts, built-in arbitration, and CDL tokens. There are
tons of projects out there that offer only one feature and often they don’t
even have a ready to use product. Confideal, on the other hand, does have a
product and the project created a complete ecosystem that comes together into a
harmonious product. The built-in
arbitration module is used in case of a dispute and basically it means that a
third party arbitrator will help you resolve or mediate the dispute.

Confideal’s initial coin offering (ICO) will commence on November 2,
2017, under the token name “Confideal” or “CDL.” The total supply of CDL tokens
will be 100,000,000 with a price breakdown of 1,000 CDL to 1 ETH. The total
supply will never increase and no additional tokens will ever be released.

CDL tokens are the internal, native currency for the Confideal
platform. For all transactions made in CDL, 1 percent of the contract fee is
exempted. Moreover, token users can participate in voting for arbiters.

Of the total ICO supply, 74 percent of the tokens will be sold via the
ICO. The remainder will be distributed as follows: 6 percent were sold during
the pre-ICO; 10 percent have been set aside for the team behind the platform; 4
percent for promotional activities; 4 percent for advisors; and 2 percent for a
bounty campaign.

“Following our ICO, we have a detailed roadmap
planned for developing the product,”
Belousov said. “It includes the launch
of the arbitration module, API and widget, implementation of multiple smart
contract templates for various purposes, multi-language support, integration
with other technologies and blockchains. It is with this that we are excited
about the future of smart contracts.” 

You can reach out for more on Confideal through Telegram.

Note: Trading and investing in digital assets is speculative. Based on the shifting business and regulatory environment of such a new industry, this content should not be considered investment or legal advice.

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#207 Micah Winkelspecht: Gem – The Enterprise Platform That Powers Data-Driven Applications

We are joined by Micah Winkelspecht, CEO and Founder of Gem. What started as a Bitcoin API in 2014 has evolved into a leading provider of blockchain solutions for enterprise. Gem addresses the problem of digital data silos and the complexities they introduce when companies and individuals collaborate and share information. Their product, GemOS, provides a full-stack blockchain middleware platform which allows companies to build applications on top of blockchains protocols like Ethereum or Hyperledger Fabric.

Topics discussed in this episode:

  • Micah’s background and how he got involved in the Bitcoin space
  • How the company and product have evolved to support his original vision
  • How blockchain technologies are transforming process digitization
  • The siloed identity problem and what complexities it introduces for people and companies
  • How GemOS is addressing fundamental issues in health care and insurance
  • How blockchain technologies can support regulated industries
  • Micah’s insights on creating awareness among enterprise clients
  • The importance of building ecosystems and network economies which enterprise can leverage

Links mentioned in this episode:

Sponsors:

Support the show, consider donating:

This episode is also available on :

Watch or listen, Epicenter is available wherever you get your podcasts.

Epicenter is hosted by Brian Fabian Crain, S?ƒbastien Couture & Meher Roy.

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The Tatiana Show – Arry Yu Of StormX & Richard Jacobs Of Bitcoin Superconference

Tatiana interviews Arry Yu of StormX & Richard Jacobs of Bitcoin Superconference.

Topics include:

–“Getting Into Crypto”

–“The Bitcoin Superconference”

–“Getting into Tech from Music”

–“The Evolution of StormX”

About the Guests:

-Richard Jacobs is an entrepreneur, cryptocurrency enthusiast, and publisher of the Crypto News Insider newsletter, FutureTech Podcast, and Bitcoin.com official podcast. Over the last nine months, he has interviewed hundreds of the most influential players and disruptors in the world of Bitcoin, Ethereum, and blockchain, while making himself privy to “inside information” that has helped him gain handsome returns on his own crypto currency investments. Under the banner of the Bitcoin, Ethereum, and Blockchain Super Conference 2018, Richard is bringing these people together under one roof so that other cryptocurrency enthusiasts and investors can get the inside scoop on where this technology is headed and where the smart plays are.

-A creative whose strength is in helping businesses think outside-the-box to accomplish more with less using qual/quant data and strategy. She has a consistent track record building high performing businesses and teams. I look for opportunities with global impact. She’s been seen in: Forbes, CNN Money, Huffington Post, U.S. News & World Report, Puget Sound Business Journal, Geekwire, Retailing Today, Seattle Times, and more.

More Info:

https://www.TatianaMoroz.com

https://www.CryptoMediaHub.com

https://www.Vaultoro.com/?a=100068

https://www.bitcoinsuperconference.com/

https://stormtoken.com/tokensale

Friends and Sponsors of the Show:

https://www.TheBitcoinCPA.com/

https://www.CryptoCompare.com/

https://www.FreeRoss.org

https://www.ThirdKey.Solutions/

http://www.SovrynTech.com

http://www.SexAndScienceHour.com

https://www.Netki.com

https://www.Vaultoro.com

http://www.CryptoMediaHub.com

http://www.Beautycounter.com/TatianaMoroz

https://www.LibertyCraze.com

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Launching a Cryptocurrency “Token Generation Event” (aka an ICO)

October 31, 2017 Erik Kuebler 0

Ethereal ICO panel

On October 27, 2017, disruptors in the cryptocurrency field gathered at the San Francisco Ethereal SummitSponsored by ConsenSys, the summit provided a diverse mix of panels and workshops that demystified the “initial coin offering” (ICO) or “token generation event.”


Side note: Vernacular is key. Referring to a token launch as an ICO is so “September.” The process is now referred to as a “token generation event.”


At the “How to Launch a Token” panel, token generation event veterans Galia Benartzi (co-founder of Bancor Protocol), Matt Liston (CSO at Gnosis) and Piotr Janiuk (co-founder and CTO of the Golem Project) guided Ethereal participants through a hypothetical: founding a hat company and funding the development through a token. Here are some of the key points that they discussed.

Step 1: Determine if the token model fits for the new company

Imagine the whole process backward: What layer does the company involve — application, platform or protocol? Design the decentralized concept first and then discern if a token is necessary.

Criteria:

  • Is the project based on a decentralized model? If not, equity funding is a viable option –– no need for a token.

  • What is the token’s utility within the network? How are customers involved in the network? For example, is the token facilitating and incentivizing collaboration between the community in the network? If so, tokens (similar to shares and equity in a normal company) are a great way to distribute participation among stakeholders.

Tokens work best when fueling network effects around ideas –– when there are benefits to being an early adapter/stakeholder.

Step 2: Find a strong legal team and a favorable regulatory environment

Regulation in the cryptocurrency space is in its infancy and varies greatly around the world.

Criteria:

  • Find a competent lawyer with an understanding of the space that can give risk parameters. It is important to minimize risk for the project.

  • Select a government that defines clear boundaries and has a forward-thinking mentality.

Although blockchains and cryptocurrency promise decentralized disruption to all industries, anarchy would be unfavorable to all. All companies must comply with the law.

Step 3:  Work on the prototype phase

Establish a white paper, set up the concept on the testnet and prove the concept.

Criteria:

  • White paper: describe your network, protocol and model. White papers should strike the proper balance between being math-heavy and marketing-heavy. The goal is for users and stakeholders to understand exactly what the network is doing.

  • Prove that your concept works and expose its source code. Everything should be 100 percent transparent to the public.

  • Trustless (trust forced through code) and transparent networks are critical to long-term success. Secure and validate data by rewarding “oracles,” people who provide trustworthy answers and validate that events did in fact occur. On the flip side, penalize those who lie to the network.

Trust and transparency are paramount for any company that is considering funding its development with a token.

Step 4: Connect with the community

Generating interest for the token and setting the foundation for strong community support before finally launching a token generation event to the public is crucial.

Criteria:

  • Develop a public-relation strategy. Share as much as possible. Post videos, host AMAs, etc. This process can be grueling, but it is necessary to establish a global presence and field questions.

  • Prepare for a fast-paced environment. Communication builds authenticity and credibility with supporters around the world.

  • Listen to outside perspectives and criticisms.

Because token generation events allow for decentralized methods of funding, the company’s diligence process should be decentralized to match.

Tokens generation events are complicated and don’t work for every business type. However, they unlock a new economic driver: permissionless venture capital.

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Op Ed: Slovenia Primed to Become a Blockchain Haven

October 31, 2017 Zenel Batagelj 0

Op Ed: Slovenia Primed to Become a Blockchain Haven

The prime minister of Slovenia’s speech in support of blockchain technology this week has solidified the country’s position as the leading blockchain destination in the European Union and a key player in the regulatory field.

“After the difficult ordeal of the economic crisis … we are coming back to life, we are growing again, and we are finding that we are creating numerous success stories, which inspire us but also obligate us,” said Prime Minister Miro Cerar. “We have emerged from the crisis stronger. I believe that using blockchain technology, you too will contribute to the writing of a new Slovenian success story.”

The first clear signal that the government was prepared to make some serious moves was during July’s Blockchain Meetup Slovenia 2017, which hosted more than 300 blockchain enthusiasts. Since then, Slovenia has made significant strides in its efforts to become the EU’s key blockchain-friendly destination.

Prime Minister Miro Cerar’s recognition of Slovenia’s blockchain community as involving some of the globally leading developers and entrepreneurs shows the willingness of politicians and regulators at the highest level to understand these opportunities and act quickly. Indeed, five months mean little in the typical context of government and regulation.

Step by step, the distributed economy is becoming a true alternative to centralized systems. The new and ever-arising services are boundless, and go far beyond Bitcoin and into the fields of banking, insurance, new models of creating and sharing content, and more. This globally connected ecosystem already has a market valuation in excess of 140 billion ($163 billion USD).

At the core of a decentralized future is the persistent issue of blockchain regulation. Historically, the law has struggled to keep up with revolutionary technology. As Slovenia’s president, Borut Pahor, also emphasized this week, the age-old question for regulators remains: How can we protect citizens without stifling technological innovation? This is a particularly important question for the country from which the most significant EU blockchain companies originate, including ICONOMI, Cofound.it and Bitstamp, and the country with the highest market capitalization per capita of blockchain projects. We believe that self-regulation, education and raising awareness are important steps toward a safe and innovative business environment.

To address regulatory challenges, Cofound.it, together with blockchain legal specialist Nejc Novak, founder of law firm Novak Rutar, has spent the past five months working intensively with a diverse range of stakeholders, including the Cabinet of the Prime Minister, the Securities Agency, the Financial Administration, the Office for Money Laundering Prevention, the Central Bank, the Ministry of Public Administration and the Ministry of Finance, to clarify a number of key legal uncertainties. As a result, Cofound.it, in partnership with Rutar, is now able to provide robust legal advice to blockchain projects so that entrepreneurs can focus on their products and their user communities, rather than on accounting, compliance and other operational issues.

Slovenian entrepreneurs were early movers in the blockchain industry, and Slovenian blockchain specialists are well-placed to facilitate a workable legal framework for national, European and even global blockchain regulation. Today, Ljubljana is a vibrant market of developers, advisers, investors and savvy businesspeople with some of the most in-depth knowledge and understanding of blockchain technology in the world.

The Slovenian blockchain community is already making leaps and bounds toward a regulatory framework. DataFund, a personal data management solution, will launch later this year in partnership with Cofound.it. This local project is a first example of blockchain utilization and in compliance with the EU General Data Protection Regulation.

The prime minister’s acknowledgment of Slovenia’s advancements in blockchain technology is a welcome move toward wider policy discussions within a rapidly expanding industry. By making some wise and future-focused strategic decisions, Slovenia is already well on its way to becoming one of the most desirable destinations for global blockchain startups.

This is a guest post by Zenel Batagelj, Co-Founder and Head of Team Strategy at Cofound.it. The views expressed are his own and do not necessarily reflect those of BTC Media or Bitcoin Magazine.

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Creating a Blockchain-Based Network of Interoperable Artificial Intelligences

October 31, 2017 Giulio Prisco 0

Creating a Blockchain-Based Network of Interoperable Artificial Intelligences

Artificial Intelligence (AI) startup SingularityNET, recently covered by Wired as “the most tech-hype idea of the year,” wants to democratize AI research and facilitate the emergence of human-level AI on a decentralized, open-source platform.

SingularityNET operates on a belief that the benefits of AI should not be dominated by any small set of powerful institutions but should be shared by all. A key goal of SingularityNET is to ensure the technology is benevolent according to human standards, and the network is being designed to incentivize and reward beneficial players. The startup is developing interoperability standards for AIs, which could radically improve the process of discovering and coordinating AI services, while allowing developers to easily monetize AI technology.

SingularityNET positions itself both as a critical mediator across all future AI developments, as well as a hub for free and open AI technologies owned by the crowd, where anyone can acquire or monetize AI services.

Blockchain-based smart contracts will be central to SingularityNET operations, allowing users to combine multiple AI technologies to create custom AI stacks. The initial implementation of SingularityNET will be built on Ethereum, with smart contracts written in Solidity.

“AI is currently very fragmented and narrowly trained,” Simone Giacomelli, founder of Vulpem and co-founder of SingularityNET, told Bitcoin Magazine. “Blockchain technology and smart contracts make economic collaboration over the internet easier than ever before, aligning incentives mechanisms for different AIs to be optimized as one. SingularityNET leverages this collaborative power to make AI work together.”

SingularityNET is the brainchild of AI researcher Ben Goertzel and robotics designer David Hanson, founder of Hanson Robotics. The robot Sophia, developed by Hanson Robotics, attracted media attention when it was recently granted citizenship in Saudi Arabia.

While the SingularityNET project is still partly in stealth mode, it has been presented at recent blockchain events, including Wired’s Nextfest in Italy, SWITCH Singapore and the World Blockchain Forum in London.

At the recent Ethereal Summit in San Francisco, Goertzel showcased Sophia to demonstrate the power of AI and the potential of incorporating AI and blockchain technology to create a decentralized, open-source, blockchain-powered AI network that operates like, and can be thought of as, a thinking brain.

While on the SingularityNET roadshow, Goertzel is taking time from his busy schedule to write a series of posts on SingularityNET.

“SingularityNET is intended as a platform in which an AGI [Artificial General Intelligence] can emerge from the combination of multiple humans and multiple human-created software programs, possessing varying degrees of general intelligence on their own,” Goertzel told Bitcoin Magazine. “It doesn’t eliminate the need for fundamental algorithmic work on AGI reasoning and learning and memory, but it provides a context in which such algorithmic work can have a rapid, transformative impact.”

Goertzel makes a distinction between narrow AI and Artificial General Intelligence (AGI). While narrow AI programs are finding applications in a growing range of industries, they are not effectively integrated into overall AGI systems with general-purpose intelligence like that of humans. Therefore, Goertzel is persuaded that the next big step in the evolution of AI is going to be the transition from AI to AGI. SingularityNET wants to support this transition with an open market in which various AI algorithms can cooperate and form new patterns of emergent intelligence.

“The actual design that has been formulated is a quite practical system that is being implemented in quality software code and will serve real corporate customers and become a large and lucrative business,” continued Goertzel. “But at the deepest level, the underlying philosophical and emotional motivations David Hanson and I had for creating SingularityNET, are transhumanist ones.”

Goertzel and Hanson are, in fact, among the leading advocates of transhumanism, defined as the prospect of using advanced technology to radically change, hopefully for the better, the human condition. Enabling transhumanist technologies would include life extension, uploading human minds to futuristic supercomputers, and sentient AGI way smarter than humans, which is the target of SingularityNET.

In his 2010 book A Cosmist Manifesto, which blends transhumanist technology and enlightened spirituality, Goertzel proposed a practical philosophy able to inform the next phases of human history and transhumanist evolution.

Ultimately, Goertzel wants to create “a massively transhuman, overwhelmingly beneficial Ubermind” that evolves and grows continuously out of human mind and culture.

“One way to achieve this would be to via brain-computer interfacing — and this is going to happen,” Goertzel told Bitcoin Magazine. “Of course the computer portion of cyborgs made with brain-computer interfaces will jack into this emerging AGI society, economy and culture as well, and then we will get a supermind.”

“This emerging supermind, as it grows, will provide ways for people to earn a living and sometimes even generate tremendous wealth, as part of its growth process,” concluded Goertzel. “And it will donate parts of its resources to the common good of all humans, including underprivileged ones, as a way of helping drive its growth forward toward its objectives of joy, growth and choice.”

Goertzel shared with Bitcoin Magazine parts of the draft SingularityNET white paper, a living document still under tight wraps.

“A blockchain-based framework designed to serve the needs of AI agents as they interact with each other and with external customers can enable the emergence of a collective intelligence,” notes the draft white paper. “The use of cryptocurrency and blockchain for AI services provides a number of advantages. It allows AI agents to exchange work and subcontract with a high degree of flexibility, and also enables AI-based microservices to be offered to any customer via easily accessible APIs (enabled by smart contracts under the hood).”

Goertzel, Hanson and the SingularityNET team want to balance long-term visionary thinking with practical market needs and business concerns. In their view, the platform could enable AIs to learn from each other and collaborate, which would be one of the biggest breakthroughs ever in the evolution of AI, causing a subsequent impact on the global AI market, which is projected to grow from $233.8 billion in 2017 to $3.1 trillion in 2025.

“From day one, SingularityNET will offer AI agents,” continues the white paper. “The open design of the network, and the economic incentives, should then encourage additional AI developers to add their own AI nodes via the SingularityNET API.”

While many nodes will run on powerful supercomputers in the cloud, others will be embedded in Internet of Things (IoT) devices, and humanoid robots like Sophia will be supplied with on-board SingularityNET nodes. The upcoming SingularityNET token, details of which haven’t been disclosed yet, will play a central role in the network’s operations.

The project is about to launch an Initial Coin Offering (ICO) to fund the full development of its platform, to be fully deployed in 2018. “This ICO will allow us to start with a bang,” said Goertzel. “We’ll be competing with Google and Facebook…so having a war chest would allow us to take on them more easily.”

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These International Bitcoin Communities Are Rejecting SegWit2x

October 31, 2017 Aaron van Wirdum 0

These International Bitcoin Communities Are Rejecting SegWit2x

The hard fork part of the New York Agreement is scheduled to take place within about two weeks. This incompatible protocol rule change is set to increase Bitcoin’s block weight limit, to allow for more transactions on the network — if everyone adopts the change. Otherwise, it will create a new blockchain and currency that may or may not be considered to be “Bitcoin.”

The list of signatories of this agreement includes several of the largest Bitcoin startups and mining pools that, together, claim to represent a majority of users and hash power. Yet, it is far from clear that this 2x part of SegWit2x proposal really has much support outside of these signatories. Most of Bitcoin’s development community, a significant number of other companies, some mining pools, user polls as well as futures markets suggest otherwise.

And now, a growing list of international Bitcoin communities is putting out public statements against the SegWit2x hard fork as well.

An overview…

Seoul Bitcoin Meetup

On October 12, 2017, the Seoul Bitcoin Meetup — the largest and longest-running Bitcoin meetup in South Korea with over 1700 members — was the first user community to put out a statement on SegWit2x. More precisely, in their own words, the group voiced its “staunch opposition to this November’s proposed hardfork.”

In its statement, the Seoul Bitcoin Meetup places emphasis on the manner in which the agreement was made. Typically, changes to the Bitcoin protocol go through the Bitcoin Improvement Proposal (BIP) process where it is peer reviewed by developers across the ecosystem, whereas SegWit2x went through the New York Agreement, which was forged at an invite-only meeting among about a dozen company executives.

The Seoul Meetup states:

If a select group of CEOs and investors, no matter how benevolent their intentions, can unilaterally make decisions about the consensus rules without public comment and force these changes upon the network regardless of overall consensus, then Bitcoin will have lost the properties that make it valuable in the first place.

Additionally, the Seoul Bitcoin Meetup argues that the hard fork is needlessly risky without offering sufficient benefits to warrant the risk. It also takes issue with the controversial decision of SegWit2x developers not to implement strong replay protection.

Bitcoin Meetup Munich

On the same day as the Seoul Meetup Group, the Bitcoin Munich meetup group also put out a public statement against the SegWit2x hard fork. This meetup group consists of over 2000 members — though only several dozen of them actually engaged in the vote whether or not the statement against the SegWit2x hard fork would be accepted. This statement itself was spread via photo on social media.

In its statement, the Bitcoin Munich meetup explains it opposes the SegWit2x hard fork in part because of technical concerns:

Another doubling of the block size so quickly after SegWit seems hasty and might cause further mining centralization.

The statement further argues that a hard fork requires more and better preparation and should include more improvements from the hard fork wish list, and it endorses Bitcoin Core as “the true Bitcoin client.”

Brazilian and Argentinian Bitcoin Communities

The biggest user community also published the longest statement against the SegWit2x hard fork so far. A combined effort between a significant group of Argentinian and Brazilian users and companies, published on October 17,2017, voiced “their deepest concerns over the upcoming November hardfork as mandated by the so-called New York Agreement (NYA), also known as SegWit2x (S2X).”

Not unlike other critics of the hard fork, emphasis was placed on the process that led to the SegWit2x agreement:

The very nature of an ‘agreement’ between a few parties in a decentralized consensus protocol can be interpreted as an aggression against the network.

Similarly, the statement addresses the lack of transparency from SegWit2x proponents, criticizing the notion of a “political compromise instead of a technical upgrade” and the “consensus imposition instead of consensus building.”

Other points of concern include the lack of replay protection, the rushed nature of the hard fork, misleading statements by SegWit2x proponents and much more.

Israeli Bitcoin Association

The Israeli Bitcoin Association is a non-profit organization that promotes Bitcoin and similar technologies in Israel, with an open membership. On October 24, 2017, this association put out its own statement on the SegWit2x hard fork.

Slightly different from several of the other statements, the Israeli Bitcoin Association emphasizes the right of anyone to fork Bitcoin and create a new cryptocurrency. That naturally includes SegWit2x proponents.

But importantly, the association adds:

A protocol change in the currency holding the name ‘Bitcoin’, especially one requiring a hard fork, requires overwhelming consensus. The SegWit2x hard fork does not in any way enjoy such consensus, and while this remains the case we cannot refer to the resulting currency as ‘Bitcoin.’

The SegWit2x currency will instead be referred to as “‘Bitcoin2x.’ ‘SegWit2x coins,’ BT2, B2X, S2X or any other distinctive term that the industry will adopt.”

The Hong Kong Bitcoin Community / Bitcoin Association of Hong Kong

The Hong Kong Bitcoin Community in general, and the Bitcoin Association of Hong Kong specifically, put out statements against SegWit2x on October 25, 2017.

While technically separate statements, both voice their concern about the lack of consensus for the hard fork. The Hong Kong Bitcoin Community — a group of Hong Kong–based companies — states that “the lack of enthusiastic support for this fork among the community is striking.” The association — which mostly exists to promote Bitcoin in Hong Kong — states that “the proponents of the hardfork should kindly ask the Bitcoin community to support them and then only proceed with the hardfork if there is widespread community support.”

Additionally, the Hong Kong groups speak out against the lack of replay protection in the SegWit2x fork.

Due to the combination of both a lack of consensus across the community and a lack of strong replay protection, we consider SegWit2x a reckless endeavor that will cause disruption and harm to the ecosystem.

The Italian Bitcoin Community

The Italian Bitcoin community, more specifically a group of companies, meetups, lobbying groups and other organizations, put out a statement against SegWit2x on October 31, 2017.

The statement is largely inspired by an earlier statement by the Italian blockchain research lab BHB, which rejected SegWit2x as “an attempt to perform a political takeover of Bitcoin.”

The statement by the broader Italian Bitcoin community is a bit more compact, but nonetheless touches on many of the familiar points of criticism regarding the SegWit2x hard fork.

It reads:

The opposition is especially strong against any action of this kind that could cause huge inconveniences for service providers and serious confusion for users, potentially leading to financial losses: unilateral attempts to appropriate Bitcoin name, logo or “ticker”, attempts to mislead light-clients and SPV wallets on alternative networks not explicitly chosen by them, attempts to launch new coins in a way which leave users vulnerable to “replay attacks” or address format confusion, attempts to attack the network with a temporary hashing-power majority in order to create disruptive reorgs or to slow down the normal activity.

French-Speaking Bitcoin Communities

Meanwhile, the French-speaking Bitcoin communities are voicing their concerns with the SegWit2x hard fork through a change.org petition. It is currently signed by over 1300 people and counting.

The (French) text that accompanies the petition is mostly inspired by and based on the statement published by the Seoul Bitcoin Meetup. Like that statement, this petition emphasizes concerns about the manner in which the agreement was forged, while also noting the lack of replay protection and other problems.

Additionally, the petition includes a call to action to find alternatives for the companies that signed onto and continue to support the SegWit2x hard fork:

We would suggest avoiding the use of services of companies that support the NYA, and we hope to substitute them with alternative solutions.

Are they any more user communities that have put out statements against or in favor of the SegWit2x hard fork? Let me know at aaron@bitcoinmagazine.com.

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No Picture

Robomed Network Unleashes Linkages Between Healthcare Patients and Providers

October 31, 2017 BTC STUDIOS 0

Robomed Thumb

The global healthcare
market is vast and complex, with equity funding to digital health companies
having reached $5.8 billion so far this year. Within this space, myriad models
of healthcare delivery are being employed as breakthrough technologies are
introduced.

 

A concept that’s gaining
increased attention is the “patient-oriented medical network.” In this model, patients can manage and control their healthcare data
through a mobile electronic medical record (EMR) — information they’re able to
grant their doctors access to when requested.   

 

This mode of value-based
physician-to-patient engagement is designed to impact care quality, cost and
patient access across an entire healthcare continuum. One company that’s making
a mark in this area is an innovative global digital platform known as Robomed
Network.

 

Robomed
is introducing a solution that allows the medical industry to replace the old,
prevailing ways of managing healthcare processes with new ones designed to
boost efficiency, effectiveness and transparency. This is achieved through the
elimination of non-value-added processes and clinical errors.

Robomed
Network is comprised of 23 clinics across the world. Through the use of this
ecosystem, patients around the globe have access to bureaucracy-free,
affordable and quality medical care targeted to their specific needs.

What drives all of this is
a medical network managed by a blockchain token, designed to provide the most
effective medical care. Robomed serves as the linkage point between health
service providers and patients, all tied to a smart contract built on top of
the Ethereum platform.


“Robomed’s
blockchain is designed to constantly expand available capacity for
record-keeping, transactions tracking and accumulation of a diverse database of
medical knowledge and clinical pathways applied to treating a numerous range of
medical cases,” said Robomed Network co-founder Philipp Mironovich. “We believe
that the scope of medical services rendered to patients is bound to grow with
the processes for obtaining these services streamlined.”

As a part of the Robomed
Network, participating in-network clinics utilize what is known as “Robomed
EНR,” a process-automation system geared for medical centers, which includes
unified medical data storage and health management tools. Its primary purpose
is to integrate all participating clinics into a single information space,
allowing various service providers to quickly interact without bureaucratic,
financial or legal barriers.

 

This
bridge between the patients seeking quality medical care and access to it is a
smart contact. This interactive digital mechanism allows patients to obtain
access to a chain of healthcare providers committed to delivering the best
medical care consistent with the digital clinical guidelines registered in
Robomed Network.

These
clinical guidelines are adopted via a constantly updated, competitive and
transparent voting process involving the medical and patient community. The
goal here is to utilize a diverse set of healthcare treatments and high
standards to fulfill patients’ expectations.

Robomed
Network issues its own tokens to drive the smart contract engagement between
healthcare providers and patients. This elevates service value by granting
token owners full accomplishment of clinical guidelines for cases.

Patients
engage with the Robomed Network via Robomed Mobile or Robomed Web. The
proprietary smart contract technology provides a unique opportunity to create a
single system of coordinates with clinical outcomes as a reference point.

Given
the possibilities and examples of using the Ethereum blockchain platform, the
Robomed Network team is excited about this decentralized, cross-border
ecosystem of healthcare providers they’ve created, based on an open smart
contract and cryptocurrency.

Robomed’s
history goes a couple of years back, to when co-founders Mironovich and Ivan
Devyatkov decided to combine their expertise from the IT and healthcare
sectors. Mironovich had been involved in the startup of several hospitals, and
Devyatkov was involved in scaling up the second-biggest healthcare laboratory
player in Russia. This is how the basic version of Robomed EHR emerged.

“Robomed’s
mission is to provide equal healthcare to the world,” said Mironovich. “This
means that Robomed aims toward constantly improving the effectiveness and
efficiency of healthcare services across its global platform.”

Note: Trading and investing in digital assets is speculative. Based on the shifting business and regulatory environment of such a new industry, this content should not be considered investment or legal advice.

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