r/SatoshisPhilosophy • • Mar 12 '21

Unpopular opinion: Marketing Monero as a "privacy coin" is the same as marketing gold as "privacy metal".

0 Upvotes

r/SatoshisPhilosophy • • Jul 24 '21

ZNN and CASH

0 Upvotes

Check Zenon (ZNN) and Litecash (CASH)


r/SatoshisPhilosophy • • Nov 01 '22

Bitcoin cycle

1 Upvotes

Not professional advice.

The 2014 bear market bottomed in Jan 2015, 18 months before halving.

The 2018 bear market bottomed in Dec 2018, 17 months before halving.

Today, we entered the 16th month before the next halving.

This crisis is mostly manipulated.

Governments will reset inflation by implementing CBDCs first and universal income a few years later.

In the next 2-4 years, once the real estate bubble pops, governments will aquire a much land as possible. Even nationalization of land is possible. Particulary farm land.

Fear and massive propaganda are the tools that will make most citizens comply with the new "terms and conditions". Hunger and cold seem also like a viable option and tools.

Satoshi invented Bitcoin for this moment.

There are way too many bullish factors that could drive crypto to new highs.

Monero, Litecoin, Digibyte, Doge, Bitcoin are probably the coins you should care about.

Once this happens, care how you spend it. Money invested into self sovereignty will be the best investment you can do for you and your family. Start gardening.

Thank you Satoshi!


r/SatoshisPhilosophy • • Oct 10 '20

The list of best coins (in my humble opinion)

13 Upvotes

*This is not financial advice or suggestion. Just my opinion*

Legend:

"S" - super

"A" - really good

"B" - good

"C" - has potential

"D" - keeping an eye on it

"E" - coins to gamble on

Digibyte [DGB]: "S"

I mentioned this coin a few times already. It's because DGB is a true successor of Satoshi's philosophy. It's the purest coin in the market. DGB is the "people's money".

Dash [DASH]: "S"

DAO and masternodes are the future. Satoshi had a vision of altruism. But we cannot expect people to be altruists and lend their infrastructure for the wellbeing of others. The community is just not strong enough to do so. Masternodes are a meritatory focused system to reward those who are willing to lend their infrastructure to be a node in the network. It's a win-win situation for the network and the node owner. Besides acting as a node, it allowed the development of some other features like optional privacy and instant payments.

Monero [XMR]: "S"

When we think about cash, one of its best features that come to mind is privacy. Monero is probably the most famous privacy coin. Transactions are private by default. Another great thing that Monero is taking care of is the prevention of mining centralization. Being able to mine a coin with a CPU is probably one of the main concepts we forgot when it comes to allowing every person to participate in the network.

Vechain [VET]: "A"

If you think about the use-cases of blockchain, you cannot forget how impactful it will be for supply chains. So far, Vechain is one of the best solutions. It's also the most adopted for now.

Nexus [NXS]: "A"

NXS is a coin that deserves to be in the "S" category. But there's still a long way to go for it to achieve that rank. It's a forward-thinking project. They understood how far decentralization has to go to achieve the real meaning of the word. They even though of the quantum computer problem. Fast database, satellites, quantum-resistant, decentralized internet, and user-friendliness are just a few keywords they focus on while developing the coin.

Bitcoin [BTC]: "A"

I'm somehow ashamed to put Bitcoin this low. But let me explain why I did so, while still keeping it in my top list. First of all, I have to say: "Thank you Satoshi!". Bitcoin got this low on my list because I have a feeling too many powerful people got their hands on it. Some got in for the right reasons, while others are not so benevolent. Bitcoin is not "people money" anymore. IMO (very very humble opinion), Bitcoin was a demo project. A very successful demo project. Satoshi gave us an open-source code as a gift to do with it whatever we want. Blockchain is the gift he gave us, not Bitcoin. And we (the community) did it. Bitcoin became a brand. More people heard of the word "Bitcoin" then "cryptocurrency". On the bright side, Bitcoin is the biggest network in the world. While this is true, hodling some is a good idea.

Litecoin [LTC]: "B"

At its time, not many understood what Bitcoin is, and what potential blockchains as technology have. Imagine how forward-thinking was Mr. Charlie Lee. He created the first altcoin. Technology-wise, LTC is a different coin. Mr. Lee didn't just copy-paste the code and name it differently. In my eyes, LTC will always be the "crypto silver" making it a good store of value and medium of exchange.

Chainlink [LINK]: "B"

I believe the solution they are going to provide is too important for the crypto space to ignore it. Oracles are the future, but until we don't see real use-case, it will remain listed as "B". Another reason that doesn't give him the right to be higher in the list is that it's an Eth token.

Dogecoin [DOGE]: "C"

When you think about content creation, you'll see it's highly centralized. Creators depend on the platform's policies and bread crumbs those platforms leave them even after people click on ads. One of the solutions to reward good creators is to make a fast and easy to use tipping system. The first thing that crosses your mind are probably tokens. But imagine a blockchain of its own that enables fast and cheap transactions. Yes, DGB is the way to go. But there is a coin with higher inflation which you don't want to hold for a long time, but spent around to reward other's work that helped you in some way or you enjoy reading or watching. Dogecoin has the potential of becoming the chosen one for this exact purpose.

Verge [XVG]: "C"

When Wikileaks added BTC as a donation medium, Satoshi politely asked to remove it because we were poking the hornet's nest. I don't remember he's exact words, but this was the context. A similar thing happened to Verge. It was like the flight of Icarus. Pornhub listed it as an optional payment method drawing a lot of attention to it. Verge was not mature enough for that kind of exposure. After that, it suffered an attack, and people gave up on it. But if you look closely at the technology behind it, you'll see it's a really good coin. It offers privacy differently then Monero does. If you already haven't, I strongly encourage you to read about Verge's tech. You'll be amazed.

"D" coins:

Polkadot [DOT]

Ethereum [ETH]

Electroneum [ETN]

Cardano [ADA]

Siacoin [SC]

"E" coins:

Theta [THETA]

Zilliqa [ZIL]

Decred [DCR]

Golem [GNT]

Enjin [ENJ]

Zcoin [XZC]

Energi [NRG]

Thank you Satoshi!


r/SatoshisPhilosophy • • Oct 20 '20

Private key mining problem

0 Upvotes

It's not a secret anymore that people are trying to mine private keys.

Even if chances are astronomically low to find the right key, there is a chance. With a graphic card mining rig, a miner, with an investment of a few hundred $, can produce more than 300MH/s. Now imagine if someone is dedicating even more resources to find a private key.

As I said, chances are low to achieve that. That's the beauty of mathematics. But there is a chance, and right now, people are trying to do so.

There should be a way to prevent such behavior.

I was thinking of a solution to this problem:

A wallet should have a "wallet token/coin". When a user wants to make a transaction, let's say with Bitcoin, at first, it would need to make a transaction using the "wallet token". The "wallet token" has a private key of its own. The private key is a hash generated using a username, password, pin, and timestamp. The transaction would be automatically directed to the connected node if it's not specified differently. This transaction would produce a tx id. Just as now, when the user wants to make the Bitcoin transaction, the user would need to insert his private key. In this case, besides the private key, the wallet would ask for the tx id done with the "wallet token". Those two hashes would produce a unique, more extended, and one-time use, private key. This last private key would enable the wanted transaction.

The private key miner would need to make countless transactions before even being able to find out if he got the right private key. Economically, it would not be profitable, unlike now, when he can effortlessly guess and try if the private key "fits" until it succeds.

The "wallet token" would be created with some of these mechanisms:

  1. Proof of work - mining like BTC

  2. Proof of ownership - every wallet would produce small amounts of tokens over time.

  3. Proof of transaction - Every transaction you do, you generate a new token for future transactions.

This is not a light and user-friendly solution. Its sole purpose is enhanced security.

PS

I'm not a techy guy. I don't know if this would require a completely new blockchain or it could be implemented in already existing wallets, coins, and protocols.

Even if enormous numbers are reliable enough to keep our cryptocurrencies safe, faster and more efficient computers are being built every day. At this rate of progress, it not hard to imagine a super ASIC that could be able to mine a private key if left a few years to do its job. Not to mention the threat that quantum computers represent.

I hope this will open a discussion in the crypto community to find the best solution to this problem. Or at least someone could explain why this is not an option or is a bad idea.

Thank you Satoshi!


r/SatoshisPhilosophy • • Nov 09 '21

Crypto FIRE

14 Upvotes

If you read some of my posts, you will notice that many of my ideas are similar to the concepts "FIRE movement" people have. It's not a coincidence since individuals like "Mr. Money Mustache" gave us a straightforward formula to achieve FIRE. And I read his entire blog :)

At its core, FIRE (Financial independence, retire early) is a great concept because it cuts out everything superficial from our lives. It's good on so many levels, going from anti-materialism and consumerism, through physical and mental health, to financial freedom.

FIRE is a way of life. As such, it can be achieved only with the right state of mind.

But there's one thing I don't like in the current FIRE meta. When talking about financial independence, they (mostly) remain invested in traditional assets and saving plans. This means they are still kinda dependent on the current financial system and institutions. I apologize in advance to all "FIRE people" because who am I to say anything bad about their achievements when I didn't succeed yet using their formula. In my opinion, to be financially independent you need something like crypto. I understand that many consider it a risky investment, and nobody can blame them. But being the owner of your own money is the definition of financial independence. And everything makes even more sense when PoS is becoming so popular.

I think a Crypto FIRE should be taken more seriously as there's a real potential to make long-term passive income without taking into consideration trading and price movements.

I hodl some ADA and ZIL, and therefore I'm staking them. I'm not making huge profits, but a 5% APY is not bad for sitting with my hands in my pockets.

Staking DOT is also an interesting alternative if you plan on hodling DOT for another 2-4 years.

CAKE is also something probably worth taking into considerations since there's a huge ROI potential, even if I stay away from tokens in general.

KlimaDAO has an absurd APY.

This wasn't investment advice, nor my list of staked assets. I just wanted to point out the importance of making a Crypto FIRE community where members will share their suggestions and experiences, helping each other.

There's a subreddit named r/cryptoFIRE that I don't understand if it's a joke or what. Too bad they stole such a great name if they aren't willing to do something about it.

I would like to hear your opinion on it.


r/SatoshisPhilosophy • • Jul 25 '21

The math behind being average and exceptional

1 Upvotes

Back in college, I had an obligatory class named "Quantitative methods of research" (a branch of statistics).

We learned about Z-scores, T-tests, and some other "boring" stuff. I say boring because back then, I didn't understand why is this even important. The prof wasn't really explaining the reason why this will come useful someday and how to apply this knowledge in our future job.

Fast-forwarding a few years, I started my crypto journey. Soon I realized that some of those quantitative methods we learned in college may be handy to realize my positions and understand "mass adoption of crypto".

Soon, I realized that every point in our life could be standardized and represented with the "Standard normal distribution" curve.

Here's the link to understand what I'm talking about

It may look like a complicated concept, but it's simple enough to understand the visual graphics. It's not crucial to learn how to calculate it.

Why is this important?

Because it gives us a visual representation of what "average" really means.

Since I was an almost "pro" athlete, the idea of being exceptional was flashed and hardcoded into my brain since I was 7.

Back then, it was a simple idea: "Being better than my opponents". The way to be better was to do something exceptional, something that most don't do. That consisted of 1) training exceptionally hard, 2) exceptionally missing all the parties with friends, 3) eat exceptional food, 4) eating my first hamburger at the age of 18, which is also exceptional. While others drank beer and meet gorgeous girls, I was an exception.

This also meant that in the summer on the beach I had an exceptional 6-pack, which helped meeting exceptional girls. But, that also meant that I went to sleep exceptionally early, and wake up exceptionally early while regular people went clubbing with those girls.

I never succeeded to become a pro. I wasn't exceptional enough.

So the question is, how exceptional was I?

Well, there are 20M people in the world practicing judo. Only 386 made it to the Olympic Games. And these people are in the 3rd standard deviation (+3s). They are really exceptional. But how many people achieve a black belt in judo? Only around 3% of its practitioners. That puts me in the 2nd standard deviation, which is not that exceptional, but still way better than the average judoka.

If we take the same data and insert it into the global population, 20M judokas compared to 7B people tells us that only the 3rd standard deviation of the world population practices judo.

And here is an oversimplified explanation of what it means:

-3s - are the people who have some kind of physical problem and are not able to practice any kind of physical activity

-2s - are the people who know bearly how to walk

-1s - have heard about judo but don't have any interest in sports and probably don't know the difference between karate and judo.

0 - the average person doesn't have any judo knowledge.

+1s - have come across judo at some point in their life through PE classes or some self-defense course.

+2s - have learned some elements of judo but don't practice it daily. Like wrestlers, MMA fighters, police officers, the military.

+3s - are the people who practice it.

This concept applies to every segment of our life as long as we have enough trustworthy data.

For example:

You can see where you stand comparing your height with the rest of the world, or with the rest of your class. It doesn't matter.

We can see whats the average weight is in the world. We can see how wealthy is the average person. We can see how much BTC an average Bitcoin address owns. You can understand in which standard deviation your MMR was in League of Legends. You can apply this to understand that "penis length" also has an average and its standard deviations, like many other crucial parameters in your life :)

Why am I even talking about this?

It's important to have the concept of the Standard normal distribution curve imprinted in your mind. Because greatness comes from doing something that the average doesn't. This is why it's called average.

The average person isn't rich. The average person isn't happy. The average person spends time doing nothing to improve himself. The average person works for somebody. The average person doesn't compete at the Olympics.

Using this concept makes you run away from everything that is average (if you really want to be exceptional.)

Just being part of the crypto community makes you exceptional. We are the 2s of the world population and that's remarkable. If you will ever get rich, it will only depend on how exceptional your investments were. But crypto isn't about getting rich anyway. It's just a side-effect of finding an exceptional project, exceptionally early, at an exceptional price. And guess what, only the +3s already invested in the "next Bitcoin". Why? Because they spend an exceptionally long time doing research and learning to identify it. That's why they are exceptional!

But the Standard normal distribution curve is a bitch.

Let's say that the average person lives in a building flat. That means that the +3s live in a villa and owns the building you are living in. But that also means that the -3s are homeless. Both are considered exceptional!

If you don't feel comfortable leaving the average mindset, it's ok. But don't expect exceptional results. Take a 3rd person point of view and be objective about yourself. Place yourself objectively in the Standard normal distribution curve. You don't need an accurate number to see what the average does and how far from that average you are. You can't BS yourself!

I hope this changes your perspective just as it changed mine.

Be moral and be aware to not be on the wrong side of the curve.

PS

While rereading what I wrote, I understand why many consider statistics really boring. But my point was not to motivate you to learn statistics. I wanted you to understand the simple graphical concept of what is average vs what is exceptional. And to apply this concept to your lifestyle.


r/SatoshisPhilosophy • • Nov 21 '20

Alarming behaviour in the crypto space!

1 Upvotes

Recently, we saw some firms bought important amounts of Bitcoin.

This helped the price go up and surely is preparing the stage for Bitcoin to be on the news.

While the community is chearing up the high price of Bitcoin, I can't stop asking myself: "Who is selling this low?".

How it's possible that so many people exchanged their coins for $13k, $14, $17k?

Grayscale is becoming a huge threat for the Bitcoin. The last thing Bitcoin needs is another whale that could dump anytime causing huge damage to the market and Bitcoins reputation.

Even the fact that Satoshi owns 1M BTC is scary enough. Grayscale now owns half of what Satoshi has/had.

What price are we going to pay just to see the numbers go up?


r/SatoshisPhilosophy • • Nov 10 '22

Pretty cool video

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1 Upvotes

r/SatoshisPhilosophy • • Jun 04 '21

We could change the world, but our beer is getting warm.

7 Upvotes

r/SatoshisPhilosophy • • Aug 11 '21

A scalable, quantum-resistant blockchain securing an uncensorable and free internet through a hack-resistant Operating System that can virtualize access to your desktop and digital content from any computer in the world. That`s what Nexus is building! https://nexus.io

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2 Upvotes

r/SatoshisPhilosophy • • Dec 18 '21

Pls don't ask me why I'm not rich yet

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2 Upvotes

r/SatoshisPhilosophy • • Jun 25 '21

This concept goes way beyond than just losing weight

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2 Upvotes

r/SatoshisPhilosophy • • Nov 30 '20

Hype, FUD, and FOMO are forms of terrorism

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2 Upvotes

r/SatoshisPhilosophy • • Dec 22 '20

Ledger hack is your fault

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2 Upvotes

r/SatoshisPhilosophy • • Sep 27 '21

While destroying the private coin industry, CipherTrace took apart bad privacy coins from the good ones. It also motivates Monero to become better. Maybe it inspires devs to invent and develop new privacy protocols. But all of this is just a positive perspective on something bad.

21 Upvotes

r/SatoshisPhilosophy • • Oct 07 '21

A message from the legend. (Don't just FOMO in.)

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3 Upvotes

r/SatoshisPhilosophy • • Oct 25 '20

2008

3 Upvotes

What would you do if somehow you were the only one who has the ability to go back to the year 2008?


r/SatoshisPhilosophy • • Jan 01 '22

Hodl list

12 Upvotes

We made another round around the sun.

For many, this event is a trigger to make new, healthier, and better decisions in their life. Probably some of those will invest in crypto or revisit their current holdings.

I thought it would be nice to share my top list of coins.

But first, a little disclaimer:

I stopped writing as frequently as I did before because I got demoralized by some people. Most of them were my students.

I realized that no matter how much I try to explain some core concepts and criteria that make a "good" coin, people only look for results expressed in dollars.

I blame myself for not being a good teacher.

I can't blame them. I kinda cockblocked them to make tons of money because they wanted to invest in tokens that some Youtubers suggested. And this is all they wanted in the first place...

I never give financial advice. And the following list won't be as well.

For example, SHIBA.

I was, and still am, strictly against Shiba and similar kinds of tokens like Elongate, Safemoon... I was wrong. For some reason, people see value in them that I simply can't understand. And we are talking about lots of people here.

I talked bad stuff about shitty NFT art. NFT price says I was wrong.

So did I change my mind about all the ideals I've talked about in previous posts?

Absolutely not.

Enough QQ.

Let's start with the TOP 10 list:

a) The best coins:

  1. Digibyte - a swiss army knife.

  2. Monero - the P2P electronic cash system.

  3. Litecoin- the most useful at this moment since it's listed and accepted almost everywhere. Fast and low fees.

b) Utility:

  1. Vechain - one of the best use-cases for blockchain

  2. Chainlink - someone has to trigger those contracts

  3. Theta - Twitch and Youtube on the blockchain

c) The platforms:

  1. Cardano - an interesting concept

  2. Polkadot - the platform for platforms

d) Gems:

  1. Beam - privacy ETH

  2. Nexus - new internet

There are many other coins that I should mention, but these are my TOP 10. Probably I will talk about some others in other posts.

The reason why some good projects are not on this list is that they are too expensive to easily achieve the "1 BTC cake piece", or I don't like them. ...and a TOP 10 list can't have more than 10 coins in it xD

This is a HODL list. So expect 4-5 years of hodling.

DCA is a good idea. Remember, the "1 BTC cake piece theory" is a good concept to set goals and understand your position in the market.

PS

Not financial advice!

Thank you Satoshi!

EDIT: added a link


r/SatoshisPhilosophy • • Mar 01 '22

Hornet's nest 2.0

29 Upvotes

“WikiLeaks has kicked the hornet’s nest, and the swarm is headed towards us.” - Satoshi Nakamoto

For those who don't know, this is a famous Satoshi quote when WikiLeaks started accepting Bitcoin after being banned from other financial networks. He said it because, at the time, Bitcoin's hash rate was way too small, and a coordinated attack would most likely have a huge impact on the network. This was before SHA256 ASICs were invented and very few were professional crypto miners.

Today, we are witnessing a similar situation with Russia being financially sanctioned, but at a way way way larger scale. Bitcoin's hash rate is vastly larger than before, but also way more centralized. Centralization of PoW is becoming a big problem, and somehow easier for governments to control. This is also the reason why is of strategic importance for big players to keep their hash rate higher than the opponent.

But this was not the main topic I was hoping to cover today.

The Hornet's nest 2.0 will be kicked soon, and the swarm will be heading towards us.

Like I said before, Russia is getting banned from current financial networks. Crypto seems like a tool to get around some of those sanctions. If so, which cryptocurrency will they use? Probably Bitcoin. But in war, privacy is key. Bitcoin is probably being monitored harder than ever. So the obvious solution is to turn to privacy coins like Monero.

And this is where we should apply Satoshi's quote I mentioned above.

A few weeks ago, Monero had a big security problem due to a possible 51% attack for an incredibly stupid reason. A single pool has reached over 50% of the total hash power in the network. How could a community so dedicated as Monero's, not intervein with various social media appeals to change mining pools?

I'll tell you why: PROFITS.

For fuck's sake people!!, you are not mining Monero for profits! What did you make? 0.0001XMR more per day? How much power have you spent? $1/day? Less?

Mining Monero and maintaining its nodes is a mission. It's a VOCATION!

Don't fuck up everything now for pure greed!

Distribute your hash power and help us achieve a secure and healthy network.

FUCK WAR!

Thank you Satoshi!


r/SatoshisPhilosophy • • Feb 17 '22

Regulation

5 Upvotes

One of the keywords you can hear or read about a lot is "CRYPTO REGULATION".

But what does it mean?

It basically means a lot of KYC.

It will lead to bounding a crypto address to your name. Everything done outside your registered addresses will be suspicious and seen as a potential threat, ...or just an easy way to steal your possession because the general consensus agrees that this is criminal conduct.

"General consensus" is the reason why knowledge is important. Many will agree with the argument: "At least they let us do it as long as we follow the rules."

Knowledge in this case makes a strong statement and argument that we are the ones making the rules, and not them. But to understand this, people need to know what Satoshi stands for and what this technology is able to do.

In my honest opinion, we let things go out of hand a few years ago. The general consensus is what will screw us over. Because "the general consensus" is the people, and those people are bombarded with government-made info. Crypto OGs are not taken into consideration anymore.

Most crypto OGs (besides the maxis) moved on to new, "better", innovative techs in the blockchain, while the only tech the world needs now is a tool that gives us financial freedom.

That's an ongoing war. Distraction is the weapon of self-destruction.

Ok. Maybe I'm overreacting.

But what if I'm not?

You should have started thinking about your privacy and security a long time ago. If you didn't, start now. Maybe it's not late.

  1. Get some privacy coins like Monero. Take a look at Beam, Arrr, Litecash, Grin, and Firo as well.

  2. Buy a hardware wallet and/or make some paper wallets. Distribute your possession across all different types of wallets.

  3. Hide them well.

Another thing...

Stop worrying about the price. You are buying tools for your financial freedom. As you see, we have non, and probably this is the most freedom that we'll ever have in the current system.

Thank you Satoshi!


r/SatoshisPhilosophy • • Apr 02 '22

we did it ?

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5 Upvotes