It’s been awhile since I’ve written anything. I did a white paper review of VSYNC the other day, and beside that I’ve been doing a lot of screwing off this summer. Honestly, I spent almost 3 years sitting in front of a computer staring at charts and really needed the time off.
The 2018 crypto market is nothing like I expected. I certainly expected a correction when bitcoin rose to 20K, but never expected almost every alt to return to 2017 lows. What a pump, and what a retrace!
In the meantime I’ve been enjoying the summer, putting low buy orders in, accumulating and like most of us, hoping this bear market turns. I bought a couple motorcycles, and I’ve been riding and waiting… Riding and waiting… Riding and buying and waiting….
Finally started getting tired of riding and waiting. Time to start acting. I’ll still be traveling around a bit this summer, but it’s time to get back to work. Oh, and I’m thinking about starting a travel blog, just registered themotorcycledude.com Nothing there yet, but the wheels are in motion.
So I’ll be working on websites, updating this one… God knows it needs it. I’ll also be posting regularly again. Not sure how often but you should be able to expect at least a few posts a month. Thanks for reading, stay strong traders, sooner or later this market will turn and we will reap the rewards of our efforts!
Recently, I read the VSYNC / VSX white paper. This is a pretty interesting project and I thought I’d do a quick review of the white paper. I’m not going to re-write the white paper, just highlight a few of the interesting points. I will include a link to the white paper at the bottom of the page for further research and review. Nothing here should be construed as financial advice, just sharing the info I discovered in my research.
VSYNC is a privacy centric POS cryptocurrency based on BitcoinCore 0.15 & Dash. It is proof of stake and utilizes PoSv3. It also offers a masternode system using 100,000 VSX as collateral.To insure fast transaction times VSYNC uses SwiftTX for zero confirmation transactions.
The currency is governed by the entire community and not just masternode owners. Every single VSX holder has the power to vote.
For users concerned with privacy VSYNC plans on implementing the ZeroCoin Protocol, I2P, and the Dandelion Protocol for anonymous payments between parties.
For scalability and transaction capacity the coin will utilize SegWit, Elastic Block Size, and Lightning Network. Implemented with SwiftTX this insures a scalable blockchain, with fast transaction times.
The coin also looks to implement atomic swaps on the network to allow other currencies to be traded and the implementation of smart contracts.
I’ve been following this project for awhile now, and I really like the direction this project is heading in. In the spirit of disclosure I do own a small bag and have been a long time hodler.
The purpose of this post was just to outline some of the features of VSYNC and what the devs are planning on working on in the future. I found the white paper to be well written, and informative. The roadmap is well defined and posted at the end of the white paper along with many references for research.
This is a basic review of the white paper. For more detailed information you can find the white paper at the link below hosted on the VSYNC website.
Once you have the files go to the downloads directory and extract the compressed files you downloaded. I extracted mine with ARK. Use whatever you use for extracting compressed files.
Once the files are extracted. Drag and drop the smartcash-1.1.1 folder into your home directory.
Open the smartcash-1.1.1 folder and create a new folder inside it called smartcash
Open up the bin folder now, and cut smartcash-qt and paste it into the new smartcash folder that you just made.
We now have to make the smartcash-qt file executable. Open your terminal program amd cd to:
Once you’re inside the smartcash directory we need to make the smartcash-qt file executable. Type ls to make sure the file is there and that you’re in the proper directory. Once you verifie the smartcash-qt file is there type:
chmod +x smartcash-qt
The file is now executable. Next we want to open the program. Make sure you’re still in the smartcash folder and type:
This will open the smartcash wallet.
Whenever you need to open the wallet you need to go to the smartcash folder and open it using the above command. ./smartcash-qt
If you’ve done everything correct the wallet should open and ask you to select the data directory. I selected the default directory.
Once you select the data directory the program will open the wallet and begin to start downloading the blockchain. The size of the SmartCash blockchain is very large and depending on your internet connection could take several days. To fix this we’re going to click on “FILE” and “Exit” in the upper left hand corner of the wallet.
YOU ALWAYS WANT TO CLOSE THE PROGRAM LIKE THIS. DO NOT JUST CLOSE THE WINDOW USING THE X IN THE RIGHT HAND CORNER. IF THE PROGRAM IS NOT SHUTDOWN PROPERLY YOU COULD CORRUPT YOUR DATABASE FILE
Once we’ve closed the program we want to return to our downloads folder and uncompress the txindexstrap.zip file. Once the file is extracted we need to return to the file manager, in Dolphin you click control and check “show hidden files” to see all the hidden files on your computer. You are looking for the .smartcash folder.
Once you open the .smartcash folder you want to delete both the “blocks” and “chainstate” folders. Once those two folder are deleted. Return to the downloads folder or wherever you extracted the txindexstrap.zip file. Open up the extracted folder and cut the “blocks” and “chainstate” folders and paste them into the .smartcash folder.
OK we’re almost finished. Now create a text file inside the .smartcash folder and name it smartcash.conf
Inside smartcash.conf you will write one line of code.
Save the .conf file This basically helps the wallet to organize the blockchain data
Now from terminal return to ~/smartcash-1.1.1/smartcash
Once you are in the proper directory type:
And your wallet will open and begin to sync the new blockchain. It took about 8 hours on my computer. If you were to do this without the bootstrap file, it would probably take several days depending on the speed of your computer and internet connection.
Once the blockchain syncs you should have a working SmartCash wallet. At this point it is highly recommend that you back up your wallet. Simply go to “file” then “Backup Wallet” Save the backup file on a usb stick. I try to keep a couple different backups on different computers and usb sticks.
In the event you ever need your backup, simply go to the hidden folder .smartcash and replace wallet.dat with your backup file and all should be right again in your world.
I would suggest making backups after each use or at the very least weekly or monthly.
Hope you found this tutorial helpful. Thanks for reading and watching the video. Happy trading!
Screenshot coooins.com great place to research altcoins & ICO’s
BitcoinDood: Hi and thanks for agreeing to this interview. You recently sent me an email about your coooins.com project and after checking it out I was pretty impressed. Could you take a quick moment to introduce yourself and tell us a little about who you are and your relationship with coooins.com?
Coooins: I am Chris and I am the creator of Coooins. I am from California, I spend most of my time traveling and working now. I am a serial entrepreneur who has worked on various websites for the past 5 years. My last major website was HeadTalker which was a viral marketing platform that scaled to 100k+ users before being aquired by Newswire. I launched Coooins on New Years Eve. Coooins is a cryptocurrency data aggregation platform and portfolio tracker. You can research cryptocurrencies, ICO’s, subreddits, exchanges, Product Hunts, tweets, YouTube videos, and more!
BitcoinDood:I was most impressed with the amount of information available for traders looking to research projects. Tell the readers a little about coooins.com, and the type of information they can find there.
Coooins: Thats great to hear. Coooins is a platform that is aggregating cryptocurrency related data from many resources. The site is currently connecting to 9 different API’s and will be connecting to more in the future. You can currently research 1,500 coins, 2,000+ ICO’s, 80+ Exchanges, 60 popular subreddits, cryptocurrency producthunts, 100 influencers, related tweets, related videos, and much more.
BitcoinDood: The site is pretty new. When did the project go live and how has it been recieved by the crypto community so far?
Coooins: The site is 10 weeks old. I started doing marketing 6 weeks ago. Only a small percentage of the community has seen Coooins. The feedback has been positive most of the time. I have also got some constructive feedback on the site which helps improve the platform. There is so many amazing cryptocurrency websites, I will have to keep working hard if I want Coooins to stick out from the crowd.
BitcoinDood: It’s great having so much information in one place. Why should users of your website trust coooins.com as a source of good and reliable information? How is your data collected, and what insures its accuracy?
Coooins: Coooins is very new and has to establish trust within the community. Coooins gets most of its data from well establed platforms through their API’s. Its an intelligent decision for traders and investors to check multiple resources when researching.
BitcoinDood: The site has so many great features already. Are there plans to add any new features in the future?
Coooins: Yes the site is just getting started. It started as a side project and I have started to dedicate more time to it. A lot of the current features and data can be heavily improved so I want to spend some focus on that before adding more unique features.
BitcoinDood: The Dood really appreciates you taking the time to do this interview. I know you’re probably really busy and I just wanted to put together a few questions to introduce my readers to your terrific website. Is there anything you would like to add or tell the readers about that hasn’t been covered already?
Coooins: I appreciate the interview. To the readers: Check out https://coooins.com and feel free to drop me some feedback to improve the website.
BitcoinDood: I generally end every interview with the same last question. What are your thoughts about the future of cryptocurrency in general? Where do you see this all heading? If we had a crystal ball and looked specifically to see what happens to cryptocurrency, what do you think we would see?
Coooins: My Prediction: There will be a flippening from fiat to cryptocurrency within the next decade after a few major fiat currencies collapse. People will lose trust in the old system and run to cryptocurrency as a safe haven. Certain countries will adapt it before others and thrive. Technology companies will start launching ICO’s instead of going down the traditional IPO route. More and more vendors will start accepting cryptocurrency. Blockchain will play a big role in purchasing real estate. Stock markets will slowly fade away as new companies go down the token route. The web will change rapidly. We are heading from web 2.0 to web 3.0 where cryptocurrencies, decentralization, distribution, oracles, blockchain, and new technologies will be used.
The other day a friend sent me a referral link to receive some new Ethereum ERC-20 tokens. Not something I usually do, but he said he had received over 90,000 coins for taking part in this promotion for an up and coming ERC-20 Token called POW.
I figured what the hell, I’ll give it a try, The Dood loves free coins. I signed up using my twitter and sure enough, I received a little over 87,000 tokens. That’s pretty cool.
There’s not a lot of information on the site about the token offering. It is free, they haven’t asked ,me for any BTC or money and I get the impression they want the token to be used as a social networking token for sites like Facebook and Twitter.
According to the website, you receive POW ‘lite’ tokens for your referral, then in December the ‘lite’ tokens will be converted to ERC-20 and available for transfer sometime in December. Below info taken from faq :
Can I sell POW ‘lite’ for cash?
Not yet. But our plan is to build a ‘bridge’ between POW ‘lite’ and POW ERC20 by December 2017. This bridge will allow you to transfer your POW ‘lite’ onto the Ethereum Blockchain where it will becom POW ERC20. You will then be free to sell your POW ERC20 for cash. So, in the long term, the answer to your question is yes.
So this looks pretty interesting. I’m really looking forward to see what comes of this and what this token offering is planning. Apparently the amount of tokens each new person that signs up receives is reduced. Current sign ups are receiving around 60,000 tokens. I talked to someone on twitter who said he signed up on the second day and received over a million tokens.
If you’re like me and you like free coins feel free to use my referral link. I think this is a really interesting concept for an “air drop” and I’m really looking forward to seeing how this plays out.