What’s up today? (Part 1)

Cant reach that link on my phone.
Some one got lucky for sure.

Try with this one. Let me know if it works

https://cryptovest.com/news/syscoin-sys-one-sys-bought-for-96-btc-in-rogue-order/

Thats working. Cheers.

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Elastos claims to have built the backbone of the new Internet.
Actually works differently from the SafeNetwork. Its plan is curious but I got many questions and doubts regarding its structure
What do you guys think about it?

They plan using a blockchain to issue IDs. If this is not centralisation then what is? Even if you can have as many as you want it still relies on a blockchain. The only trust is that if you have the private key then its your ID. No need for blockchain really, unless you want traceability and that not so anonymous is it.

SAFE has it that you can generate your own ID, no need for blockchain.

But what if we use blockchain to issue IDs to everyone? Think about it for a second. What if we put our trust not in people or parties who can easily manipulate and take advantage of us, but we instead put our trust in code that is impossible to tamper with and does not take bribes? If you think about it, the blockchain was invented to fix the problems of the internet and that’s exactly what Elastos is aiming for. If we can have blockchain issue IDs for everyone on the internet, we could solve the issue of trust

Every time someone requests to fetch data from this new internet, the user ID, device ID, virtual machine ID are all authenticated using blockchain first.

It seems it is concerned with ID management and transaction management and validating access rights to data or that the data is valid and validating Apps. Yet how are these things considered valid in the first place. Like who ensures the Application is a valid App in first place and then gets it signed by that blockchain. I doubt this can be considered autonomous or a new backbone. Its simply a layer of ID management with some VM smarts implementing smart contracts/transactions.

Isn’t this just a YABA (Yet Another Blockchain Application)

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Yes, I think that the proper description is exactly YABA. I agree with your analysis

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For what it is worth, Solid is in the “Trending: today”-list on github Trending repositories on GitHub today · GitHub

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           WhatsUpToday

http://amp.timeinc.net/time/5330583/megaupload-kim-dotcom-us-extradition?__twitter_impression=true

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Great news guys!!. New video published by Maidsafe explaining the Proof of Resource concept. The animations are simple and clear and the explanation is incisive. Awesome job!

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Brilliant intro video for noobs

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I think the new video is looking very good with top notch design quality, explains the benefits of the network speed, security and mining/farming very well. I think it makes that you want to start mining/farming instantly.

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EU copyright nonsense rejected by MEPs :+1:

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giphy

Although it’s not finished yet. They’ll vote again on September

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Maybe there is still hope for the EU after all, this is a day to celebrate! :tada:

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This is so simple and palatable for the average Joe to understand, perfect! It’s not easy boiling down complicated info into simplistic terms. Great job!

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            WhatsUpToday
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https://toshitimes.com/crypto-exchanges-officially-recognized-as-regulated-banks-in-south-korea/
(permissionless innovation becoming permissioned again)

Jippy atomic swaps :stuck_out_tongue:

Love letter from Vitalik :kissing_heart:

:stuck_out_tongue:

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Bitcoin’s market capitalization over the last year or so has oscillated between $100 and $200 billion. Gold stock is worth about $7.5 trillion. In these terms Bitcoin is nowhere close to being “economically important.”

And according to Eric Budish, it never will be. That’s because, if it ever gets too large, the genius of Bitcoin’s design would be its undoing.

At the moment mining coins is more profitable than it is trying to overthrow the network would be—so that’s what people do, and the network stays safe.

But this protection is very expensive, writes Budish (the Bitcoin network uses about as much power as Ireland to run). And although Bitcoin’s value could theoretically increase almost without end, the blockchain’s security can only increase linearly, as more mining power is added to the network. That’s unlike other forms of security, like cryptography used in the traditional financial system, which, like adding a lock to a door, increases security much more than the cost of deploying it.

https://faculty.chicagobooth.edu/eric.budish/research/Economic-Limits-Bitcoin-Blockchain.pdf

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Sounds like that’d be an argument in favor of proof of stake.

Certainly an argument against proof of work. Another nail in the coffin of its scalability.

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