Perfect Money - new generation of Internet payment system ...

To print... or not to print? The effects of lost money and effective death taxes.

So, in the perfect economy, all goods would be distributed to every person according to their needs, and all people would have access to resources. However, there is a choice gradient, especially for simple wants, and that is why money, pricing, and markets exist. There is no socialist replacement that encapsulates a weighting of extreme want, vs need. For example, consider the following choice of life for life.
Person aged 79. Has heart disease. Needs a new heart, will probably die in 3 years without a new heart. REALLY REALLY wants to live.
Person aged 17. Has heart disease. Needs a new heart, will die in 2 months without a new heart. Suffers from depression and is suicidal.
Now, who needs the heart more? They are both humans, and both of their lives are important. They *SHOULD* both be saved. But, without artificial hearts, we need to make a choice, and if they both had equal resources, then they could devote their resources towards what was meaningful to them. Now in a society that only cares about absolute life lived, it is a no brainer to sacrifice the old to save the young, despite the older person having more wealth, and caring more about life, and having less of a need for the transplant. But in our capitalist society, the call will be made to save the one who spends more money. And this is the tyranny of capitalism.
But what about the choice of a woman who wants to homeschool her child vs a man who wants to buy a new car? This is a different choice, and is a choice of wants. Again, markets currently make this choice. Circumstances are everything, and need vs want is really not clear cut. For example, what if the car is needed to provide resources for a family? Or what if the homeschooling needs to be done because the child's life is at risk? These complicate the difference between need and want and turn clear cut decisions into aggregate inputs of demand. Which comes down to markets, pricing, money... and a useful discussion about whether the printing of new money is beneficial or harmful to a society in terms of socialist goals of having everyone fed clothed, and well off.
There are two schools of thought in this. Keynesian and Austrian economics. The Keynesian economic system is the economic system that drives modern capitalism. Under Keynesian theory, the goal is to devalue money at a slow, steady rate. This devaluing of money makes holding money akin to playing with a hot potato. People are penalized for saving, and they are encouraged to take on debt and over leverage themselves to acquire material possessions. This drives the rampant materialism seen so often in capitalist countries, and drives the valuation of material wealth over human life. People are driven to consume, and thus consumer culture arises as a function of devaluing money. The end game of Keynesian economics can be seen in hyper inflation, where the prices of all goods soar above the ability of the people to buy, and wages do not rise to meet the needs of the people.
The alternative is Austrian economics. Under the Austrian economic system, no new money is printed. The money supply is set in stone. When money is lost, it is lost forever, and there is slightly less money circulating in the system. As a consequence, the prices of all goods fall slightly over time to accommodate the lost value, and the appreciation of the base currency. This means that the everyday individual has an effective constant rise to their wages and standard of living if their wage does not change. If you want a very deep dive into Austrian economics, check here: https://en.wikipedia.org/wiki/Austrian_School
Austrian economists tend to be anarchocapitalist in their opinions, and nowhere is this more readily seen than in the bitcoin sphere. However, the implications of a society where no money is printed is extreme. Firstly, minimum wage would never have to be increased. Instead, employers would be fighting tooth and nail to see the minimum wage decrease. Consider a real world example. In 2010, the price of 1 bitcoin was $31.00. Say that congress had ordered that the minimum wage was to be 1 bitcoin. That same value today is $ 11,352. Now, this is obviously extreme, but it illustrates a powerful trend that would empower the working class over time, and dis-empower employers. I wish I had a better example where there was less rampant speculation than bitcoin, but other examples do not exist. Bitcoin is the longest running monetary system in modern times that is backed by a finite resource. Fiat currencies have gone off the gold standard.
This of course does not solve the other fundamental problems of capitalism. But it is a step ahead of the fiat system that dominates the capitalist world, and I believe a system where money was not printed would empower the workers and everyday people of the world.
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I'm making a video targeting right-wingers - Please critique and give feedback ASAP before I commit to recording? "Axiomatic Warfare and the Fatal Flaws of Modern Fascism"

[Video Essay Script] - Links will be used in video as images and segments. https://docs.google.com/document/d/12OX9TTfLhgNEfdDaMWfsHYyAMzTx9G7bSwu_0Ke1Ksc/edit?usp=sharing

Introduction to Modern Fascism

“Repeat a lie often enough and it becomes the truth”- Nazi Propagandists, Joseph Goebbels.

Axioms are our base assumptions about the world. They act as filters for new information coming into our consciousness.
In classic philosophy, an axiom is a statement that is so evident or well-established, that it is accepted without controversy or question. As used in modern logic, an axiom is a premise or starting point for reasoning.
We use these axiomatic assumptions to build our internal models of the world around us. They allow us to compare new information we receive from the outside with our internal narratives, which helps us to decide whether to reject or accept that new information. They are, for want of a better world, your "common sense" beliefs.
So how do you go about changing a relatively normal person's core beliefs and base assumptions to the point of rejecting their fellow citizens as traitors, committing acts of murderous terrorist or vigilante violence like Fascist white supremacists running down protesters in acts of terror, ISIS beheadings or mass genocide?

Shock Treatment and Slow Repetition

When I was a child I was subjected to regular mental and physical abuse from my dad. I would also see my mother repeatedly beaten up and then flee to a women's refuge where I would stay with her.
Each time my mom left, whenever I visited my dad at weekends, he would constantly try to pressure and manipulate me into convincing my mom to get back together with him.
This never worked of course. But what it did do, is make me highly sensitive to manipulation techniques.
I was fascinated by people like the magician Derren Brown and the economist Naomi Klein - who both reveal the tricks of the trade used in the advertising and marketing industries to convince people.
One way of changing people into killing machines or obedient sheep is through a big shock to the system, like how electroshock therapy allows for a clean slate to rebuild peoples intern mental models.
Psychedelics are another way, having a similar effect in the brain. Encouraged by the alt right and alt-light influencers like Jordan Peterson and Rebel Wisdom as they try to “Red Pill” people (an expression taken from the film The Matrix as a metaphor for revealing revealing the truth about the world).
They use this shock and disorientation as a way to prepare a “blank-slate” in order to rebuild peoples internal axiomatic models with different core beliefs.
Remaking people by shocking them into obedience and gas-lighting them about their existing internal models, making them seem irrational, silly or outdated. Reducing them to a mental state of a child and then rebuilding them with a new ideology and worldview, known as “shock therapy”.
As Naomi Klein explains in The Shock Doctrine: The Rise of Disaster Capitalism, these techniques work on larger scales with use of trauma and shock to influence political outcomes has been used since at least Milton Friedman coined the term “Economic Shock Treatment”. He advised that politicians push through painful and unpopular policies all at once during a time of crisis, before people could regain their footing.
The technique is used in economic markets on the large scale, and also against individuals on a small scale with individuals too. Economics and politics is just human interaction on a larger scale, after all.
Regular repetition and gentle suggestions of ideas can also instil new axiomatic models and core beliefs into people's minds. As Derren Brown demonstrates how powerful subtly suggestions can be alone, without the need for hypnosis, shocks or drugs.
But used in combination, shock and repetition can shift people until they have moved their positions, perceptions and beliefs about the world, to a place they could never have imagined.
But luckily once you deconstruct the deception and understand how the trick works, the illusion falls apart.

Defining and Deconstructing Modern Fascism

Firstly, we must define Modern Fascism. Modern Fascism ticks every box of the traditional definitions in Umberto Eco’s essay Ur-Fascism, and not only does it fulfil every criteria, it reveals other motivational forces and has evolved to include new aspects, and has changed into something worse, while it’s main weakness remain the same - the fact that it is primarily motivated by weakness.
As General Franco said in a 1938 interview with Henri Massis: "Fascism presents, wherever it manifests itself, characteristics which are varied to the extent that countries and national temperaments vary. It is essentially a defensive reaction of the organism, a manifestation of the desire to live, of the desire not to die, which at certain times seizes a whole people. So each people reacts in its own way, according to its conception of life… What can it have in common with Hitlerism, which was, above all, a reaction against the state of things created by the defeat, and by the abdication and the despair that followed it?"
This quote perfectly illustrates the transient nature of the ideology, but also the core motivations of Fascism. It is an ideology based on the assumption of weakness which yearns for restoration of a past greatness or to get revenge and recognition. But the way that it manifests itself is different in each place it takes hold.
Therefore the aim of this isn’t to make the case that any particular party or country has embraced out-right fascism (plenty of other people have made that case already), the aim is to reveal the underlying motivations, highlight threats and weaknesses and analyse the less obvious negative effects of Modern Fascism.

History Doesn’t Repeat, But It Rhymes

A false equivalence that is often used is that Liberal Imperialism is just the same as Fascism. And while it is true that imperialists use fascist dictators to extract cheap labour and resources and also dominate smaller counties in a similar way to how fascist empires aspire to rule, the key difference is that the populations of those countries are not gripped by the same fear based delusions.
And therefore more Liberal democracies are better equipped to hold their imperial position of power long term because they are better able to assess risks and react accordingly, rather than over-react based on paranoia and competing egos under excessive pressure.
This false equivalence was also used in 1930’s Germany, because far-left Communists had been co opted and infiltrated by Fascists. They would repeat the mantra that “the Social Democrats were the real racists”.
Contrary to the assumptions of most people, Fascism, as an ideology and political system of government is very distinct to white supremacy. It does of course include white supremecists, but In fact includes many other groups who have been co-opted by Fascist propaganda, or who implicitly support and enable their agenda.
Examples of modern opposition which has been repeatedly infiltrated or just simply made up by Fascists include innumerable conspiracy theories, police groups like Blue Lives Matter, militant Black nationalists, the Boogaloo movement who call for a race war, the “Proud Boys” and even sometimes supposed Anarchists, far-left Communists and Left Accelerationists.

Motivations of Fascism

Fascism distilled down to its core reason for existing is the suppression of opposition who represent workers rights and economic justice. So they patently DON’T look after their own people. They con them into submission of the state by generating jingoistic fear of “the other” - whoever is convenient on that day to blame for their problems.
Fascism is is an economic shock doctrine upon the inhabitants of the country. We don't spread fascist propaganda in tip-pot dictators because we care about the indiginous people there. We install Fascist dictators in order to remove workers rights and open up access to their natural resources.
Artificial moral panics can be engineered and real disasters used to allow corrupt oligarchs and financial predators to consolidate power further by buying up small innovative businesses who don’t have the excess capital to survive the turmoil on their own without external support. Or as a way to eradicate public services by sabotaging them and building mistrust.
They are used to erode faith in public services and institutions by rich people who simply want to pay less tax and don’t see why they should subsidise other human beings who haven’t had the same luck as them. So a major motivation of fascism is to suppress the opposition left-wing party who represent workers rights and egalitarian freedoms.
Populists claim to be against free trade and to some extent they are, but whatever they do will fail because they are interfering with the markets, so they will retreat to the power of market domination. They use their threats of trade barriers as more just more shock treatment for markets, rather than protecting actual jobs or industries.
This is a trick that has been played by Neoliberals too. But while Neoliberals use fascism as a tool for opening markets to Imperialism, they differ from Libertarians, not only because they embrace guns and weed, but they are starting from different positions to achieve the same goal;
Neoliberals seek to remove already existing public services and workers rights that lift bargaining power. But Libertarians want to STOP the government from ever providing those services and investments into the poor or enshrining workers rights.

Modern Fascist Ideology has TWO Core Reasons to Exist; Fear and Freed.

I have been researching and analysing how economic systems differ, using a SWOT analysis (Strengths, Weaknesses, Opportunities and Threads). For each economic system I tried to be as neutral, fair and balanced as possible - which included Fascism.
I might seem strange that someone who is anti-Fascist would want to explore the strenghts and opportunities of Fascist ideologies, but in doing so it reveals the real weaknesses and threats which are too important for us to ignore.
So what exactly IS Fascism? Is it just an economic doctrine or a personal philosophy about the world? The answer is both.
The ideology has TWO core reasons to exist, and TWO distinct audiences types - with one based primarily on fear and the other greed, with each having a malignant and symbiotic relationship with each other.
Fear - Authoritarian/Conservative Fascists
Greed - Libertarian Fascists
There are very few people who actually buy into full Fascist ideology, most believe a watered down version of which resembles Conservatism or right-wing populism or accelerationism, and most of them genuinely believe they aren’t fascist, even though they are being constantly fed subtle suggestions fascist ideology or that align with their plans.
But the most ironic thing is that these groups are mostly being used by the second group of rich Libertarians globalist elites pulling a confidence trick on the host nation. Often posing “anti-establishment” conspiracists who actually uphold the establishment through misinformation. See: Russia Today and Youtube Bitcoin and Gold shills who subtly suggest fascist talking points.
With those rich Libertarians at the top more than happy for those below them, who they deem less worthy, living in even more delusional ideologies with fake enemies to fear, often resembling traditional Christian but values wrapped in modern conspiracies with added elements of “satanic panic”.
Modern Fascism has clearly inspired the modern day equivalents of Brownshirts and Blackshirts, self-styled vigilantes like QAnon, The Proud Boys and “The Boogaloo” - white nationalist violent extremists who want to accelerate towards a full-on race war.
It has also infiltrated numerous alternative groups, such as hyper-evangelical “end times” cults, alternative health scenes, internet conspiracy scenes like flat earth and occult magic.

Lockdown Conspiracies

A commonly missing hallmark of fascism that is present in history during the rise of fascism is a controlled opposition and explicit suppression of opposition. This distorts a healthy society and has unforeseen consequences and blowback.
Fantasies and political thought bubbles are self delusional custom realities resembling an episode of Black Mirror. They act as coping and escape mechanisms. Especially during the Covid 19 lock-down, these tendencies have gone into overdrive with massive events entering the real world featuring David Ike leading protesters alongside fascists as people ignore rising Fascism, climate change destruction and Covid deaths tolls.
Using disasters like Covid or irrational scare tactics such as the "Satanic Panic" style Fascist propaganda from QAnon, can shock people using their fear and disgust response, while making them distrust the news - allowing the government to evade valid criticism from experts while suggesting to people that government public services are inherently evil or Communist.
This type of propaganda is a Libertarians wet dream - making a population not only give up on tax funded public services, but actively fear them. An example is Trump trying to discredit and defund the US Postal Service and other public institutions and regulatory bodies.
Anti Semitism has been used throughout history by those in power to provoke an “us vs. them” mentality, leading to today's establishment still sanctioning and allowing Qanon on major media platforms, provoking and agitating terrorist attackers from the far-left and the far-right.
Those in power in fascist regimes allow and encourage mistrust in the mainstream media, while the long-tail niche political and interest groups keep people separated from each other, who each live in their own custom realities while the real elites continue to dominate and increase their power.
With each bubble framing realities based of identity, race, class, nationality, or even subculture special interests like alternative medicine and “gamer bro” culture, so that when they interact in real life or online, they are speaking past each other because they don’t even agree on the basic principles of how they view society.

The Fatal Flaws of Living in a Fantasy

While the main flaws and weaknesses of Fascism remain the same, they are in-fact exacerbated by this new hybrid model. It’s main weakness is the very fact that it is motivated by weaknesses, fear and greed - rather than true strength, self-confidence or heroic benevolent power, as their adherents like to believe.
A misconception of fascists themselves that it is based on strength, when it is actually based on weakness - even when the driving force is greed rather than fear. Libertarian fascists want to extract labour and materials at cheaper prices, while inflating their own asset values.
In other words; international financiers with little allegiance to any country. Ironically the very type of people who Conservative fascists claim to be opposed to.
Fascism claims to make society more successful, but it actually accelerates the destruction of the culture, country or people, rather than preserving and conserving it, because it betrays a fundamental weakness of insecurity. Competitors and rivals can easily see through the charade of and take advantage.
If anything does the exact opposite. Russian and China are clearly goading Western nations into becoming more divided and totalitarian, as they themselves benefit from becoming more Liberal and open and reap the competitive advantages that brings. See Kraut’s excellent video about Trump on China as an example.
Keynesian investment in the country and people, giving workers more rights, opportunities and a more bargaining power is what makes a country successful and innovative, rather than the faux Keynesian policy of giving kickbacks to corrupt officials for government contracts and widening inequality by supporting the already rich, rather than the ordinary people.

Who Benefits in This Memetic War?

Who is going to war with who? Who is winning? A modern adage is that tankies are just fascists because of their support of authoritarian proto-fascist leaders and regimes who often claim to be Communist.
But from my experience talking to actual fascists, they crave a more multi-polar world where other strong leaders rise up as competition and form alliances with dictators.
So to me, it looks like Fascists are the real Tankies; wishing our enemies be stronger and wanting to accelerate towards race war or civil war that weakens the society.
Not only did Donald Trump have knowledge of Russia allowing ISIS bounties on US troops and withhold that from the public while courting Putin, I have personally heard white supremacists backing extremists Islamists in Discord servers.
Trump jumped to the defense of the people who put a 17 year old with a gun against civil rights protesters and assumed the intent before saying that the outcome should be decided by the legal system.
They share common values and beliefs like Anti Semitism, accelerationist end-times fantasies, patriarchal traditional values and a fear of outside progressive cultures. In fact modern extremists white supremecist groups share recruitment and terrorist strategies and tactics with militant islamists.
You could argue that it was inflicted by Russian or Imperialist propagandists onto the German people in order to take control of larger areas of Europe after the destabilisation of war.
Hitler and Stalin came to a non agression truce called The Molotov–Ribbentrop Pact, which as was a secret non-aggression pact between Nazi Germany and the Soviet Union that enabled those two powers to partition Poland between them.
The pact, signed in Moscow on 23 August 1939 by German Foreign Minister Joachim von Ribbentrop and Soviet Foreign Minister Vyacheslav Molotov was officially known as the Treaty of Non-Aggression between Germany and the Union of Soviet Socialist Republics.
They divided Poland under the banner of fighting “Polish Fascism” nearly a century ago with both sides ultimately lying to their own people about spreading freedom while being authoritarian to their core and being able to blame “the other” as being the cause of all their problems.
But these days fascism seems to be a rogue meme that no longer serves any particular group. It is pathologically damaging to any society that it happens to grip.
Even the aforementioned Libertarians and accelerationists who think they are benefiting are only temporarily gaining by market price volatility. They ultimately lose through the blowback effect of the whirlpool they create.

Psychopathy, Alienation Nihilism and Insecurity

It is well established that Fascist dictators are driven by psychopathic characters and tendencies. They either don’t care about the truth, or disregard it if it’s not convenient to their narrative.
In totalitarian despotic societies facts are reversed. As George Orwell proclaimed throughout his writings; “War is peace. Freedom is slavery. Ignorance is strength.”.
Similar to how authoritarian Starlinist Communists harnessed people’s alienation and tricked them into thinking that it’s possible for the state to fully decommodify everything without having markets, money to account for things, domination or hierarchy or try to convince people that a revolution is just around the corner.
But of course, a council representative is still the head of an organisation, for all intents and purposes, because they wield executive power over others, even if the name has changed. Markets are emergent properties when groups of humans want or need a certain commodity when it becomes available.
But while both Communist and Fascist ideologies are based on lies that harness peoples alienation, fear and envy, Fascism is also especially to the weak. It is attractive to those who want to be strong again (or were never to begin with), or those who want to have a strong leader to help them.
Fascism betrays to others the inherent weakness. Like the insecure kid in school who lashes out - others around can see that it is because of their own insecurity which makes them appear even weaker. Fascism is a psychopathy driven by insecurity.
When people become so absorbed in an ideology there is a phenomena of people to self identify as an actual ideology? This produces a phenomena called Identity Protective Cognition, where people's self worth becomes attached to a belief system or ideology. So that when new information contradicts their worldview it is seen as an attack on the person themselves.
Therefore irrational, emotional quick fix thinking is the default when there is too much pressure and they feel attacked. They no longer use their slow effortful reflective thinking. (See Daniel Kahneman - Thinking, Fast and Slow)
This approach has parallels in evolutionary biology, in which a central issue is the ability to adapt to changing environments. Competency - over-competitiveness in management causes chaos which STOPS hierarchies of competence. (Insert video clips of Sapolsky on Chaos vs Reductionism etc. timestamps linked).
Fascists try to reduce variability in culture and outcomes - causes weakness of less adaptability - because as Sapolsky explains, the variability is not just noise in that type of system CAS (Complex Adaptive Systems) - the variability IS the system. It is fractal and scale free. The noise and variability is an intrinsic part of the system.
But the system doesn’t function properly when the agreed-upon parameters that individuals believe to be true aren’t universal enough to have any form of group coherence.
Birds and swarms of animals can produce amazing complex phenomena, which are greater than the sum of their individual parts. There is a “network effect” once a certain threshold and certain conditions and rules are met.
These rules can be very simple, like repulsion or attraction, or staying a certain distance apart while traveling in a similar direction, but collectively they create patterns that emerge with complexity and I dear say, a certain amount of beauty.
So what happens when millions of people are being brainwashed and misled by cults that are leaving them with a reduced ability to make decisions?
Giving them shit-for-brains just so that some rich people at the top can pay a few percentage less tax? That is the sign of a deeply sick system that cannot continue to function effectively. It is sick on so many levels.

Emergence, Complexity and Human Evolution - A Social-Biological Analysis

The problem with viewing the world through only one lens of analysis (or bucket of knowledge) is that you can fall into unnecessarily reductive thinking. (Sapolsky clips)
I describe myself as a philosophical anarchist. Which does NOT mean I want total chaos and disorder - it means I want the optimal solution to emerge - including the influences and experiences from the bottom-up.
I also think that a bottom-up (or anarchist) lens of analysis is necessary for society to run cohesively in an optimal state. If it is repressed it distorts the overall picture of reality for everyone - similar to a CEO that doesn’t listen to employees and workers on the ground.
I interpret as constantly holding authority to account - to justify its existence and reason for dominating others. I also believe it is every citizen's responsibility to hold authority to account. This would be necessary under ANY economic system or society.
Anarchists also believe in stigmenric, rhizomatic action to make the world better, organically, not from a top-down authority, which fascism seeks to instill on society.
Human beings are collectively parts of a bigger chaotic but stable system known as a CAS (Complex Adaptive System). CAS’s are chaotic systems that can reach periodic steady states of equilibrium.
As Professor Sapolsky explains, humans uniquely exist with a mixture of both communal and individualistic tendencies; known in the scientific world as Tournament vs. pair bonding.
All the evidence suggests that this tendency has greatly improved our success as a species. But those tendencies distorted too far one way or another lead to pathologies and the worst collective misdeeds and wars.
Because as Professor Sapolsky also explains in his brilliant lecture series (which I have condensed the pertinent parts of into a 4 part YouTube video) about CAS; the signals coming from the randomness is being suppressed or repressed, it interferes with the functioning of the system.
Pressure in the system makes the patterns more complex but at a certain point of increasing pressure in the complex system, it stops being linear and the doubling of patterns and periodicity totally stops. Order completely begins to break down because of the butterfly effect.
Fascist regimes fettishise order and rigidity but in a complex adaptive system, the noise IS the phenomena, not a byproduct to be discarded, ignored or repressed.
The majority of people on the right genuinely want to help society by bringing order, using top-down draconian measures if necessary. Whereas the left generally wants to help society by proactively building from the bottom up.
I think both of these approaches are necessary to be balanced properly for a healthy functioning society to emerge.
It seems our tendency to harness both traits and to focus intently on one or the other is our greatest collective strength, while also being our greatest weakness.
And similarly, on an individual level I believe our greatest strengths and weakness are the fact that our brains work efficiently by categorising information to filter out the unimportant bits that slow us down.
As the book by Daniel Kahneman - Thinking, Fast and Slow, brilliantly explains, slow deliberate, consideration thinking takes energy and time, so our brains developed filters which come out as biases. This is an inherent weakness of the human brain.
Now imagine the butterfly effect on the life of just one person who is influenced by the brainworms of QAnon cults or conspiracies which distorts their internal models of the world which they use to filter information about the world
The sad and shocking stories on forums like QanonCasualties show the devastating effects on their close friends, family and work life - amplified by their ever increasingly disconnected lives. (insert Flat earther clip - zoom in on idiot rolling head)
Now scale that up to the level of a whole of a society, a country, or the world? This is a collective madness to cope with and avoid the reality facing us as a species.
Only collective action with agreed basic facts to work from will do to avoid the total descent into actual chaos and destruction.

TLDR; Conclusion and Final Thoughts

In this essay I will have put forward the case for the following four key arguments being true and I have present supporting evidence to explain the logical reasoning for why our current definitions need updating and the threat levels reassed, from a non-hysterical but critical perspective. The overall claims I made are:
  1. Modern Fascism has taken over right-wing populism and bears all the hallmarks of early 20th Century Fascist ideologies.
  2. The ideology has two main reasons to exist, and two distinct audiences which both have a symbiotic, pathological relationship with each other.
  3. The main flaws and weaknesses of fascist ideology remain the same as ever - that fascism is motivated by irrational fears, greed and self deception.
  4. Modern Fascism has major unforeseen damaging consequences for individuals, governments, organisational dynamics, and society at large.
This reality is something I think a lot of fascists, ultra-nationalists and people who have been influenced by the propaganda know deep down on some level already - that they are avoiding the realities of pandemics and ecological harms of ignoring science and reality as it is.
They ignore it because fantasies are simpler to understand. And a narrative based on fear of the other is a simpler way to to process a complex world.
It is also attractive to the part of us that is drawn to conflict and drama - that hunger for something genuinely interesting to happen.
But I would argue from my experience that the beautiful complexity of life in all it’s shades of grey is much more interesting, fun and genuinely fulfilling to understand and engage in, even if it might be harder to deal with and even harder to explain.
I believe doing so is also vital for the very survival of our species - we can no longer afford to live in a fantasy, we need to collectively take responsibility for the world as it exists in reality.
Thank you to my two Patrons:
Carmen Jongepier
E.V. Roske
Original Script on Patreon
submitted by Upper-Range to BreadTube [link] [comments]

[In Progress] [4500] [Factual] Axiomatic Warfare and the Fatal Flaws of Modern Fascism / Video Essay - please critique and proofread

[Video Essay Script] - Links will be used in video as images and segments. https://docs.google.com/document/d/12OX9TTfLhgNEfdDaMWfsHYyAMzTx9G7bSwu_0Ke1Ksc/edit?usp=sharing

Introduction to Modern Fascism

“Repeat a lie often enough and it becomes the truth”- Nazi Propagandists, Joseph Goebbels.

Axioms are our base assumptions about the world. They act as filters for new information coming into our consciousness.
In classic philosophy, an axiom is a statement that is so evident or well-established, that it is accepted without controversy or question. As used in modern logic, an axiom is a premise or starting point for reasoning.
We use these axiomatic assumptions to build our internal models of the world around us. They allow us to compare new information we receive from the outside with our internal narratives, which helps us to decide whether to reject or accept that new information. They are, for want of a better world, your "common sense" beliefs.
So how do you go about changing a relatively normal person's core beliefs and base assumptions to the point of rejecting their fellow citizens as traitors, committing acts of murderous terrorist or vigilante violence like Fascist white supremacists running down protesters in acts of terror, ISIS beheadings or mass genocide?

Shock Treatment and Slow Repetition

One way of changing people into killing machines or obedient sheep is through a big shock to the system, like how electroshock therapy allows for a clean slate to rebuild peoples intern mental models.
Psychedelics encouraged by the alt right and alt-light like Jordan Peterson and Rebel Wisdom as they “Red Pill” people - another way to prepare a “blank-slate” to rebuild peoples internal axiomatic models.
Remaking people, shocking them into obedience and by gas-lighting them about their existing internal models, making them seem irrational, silly or outdated. Reducing them to a mental state of a child and then rebuilding them with a new ideology and worldview, known as “shock therapy”.
As Naomi Klein explains in The Shock Doctrine: The Rise of Disaster Capitalism, these techniques work on larger scales with use of trauma and shock to influence political outcomes has been used since at least Milton Friedman coined the term “Economic Shock Treatment”. He advised that politicians push through painful and unpopular policies all at once during a time of crisis, before people could regain their footing.
The technique is used in economic markets on the large scale, and also against individuals on a small scale. Economics and politics is just human interaction on a larger scale, after all.
Regular repetition and gentle suggestions of ideas can also instil new axiomatic models and core beliefs into people's minds. As Derren Brown demonstrates how powerful suggestion can be, or the multi-billion dollar marketing and advertising industries demonstrates.
Used in combination, shock and repetition can shift until you have moved to positions, perceptions and beliefs to a place you never could have imagined yourself. But luckily once you deconstruct the deception and understand how the trick works, the illusion falls apart.

Defining and Deconstructing Modern Fascism

Firstly, we must define Modern Fascism. Modern Fascism ticks every box of the traditional definitions in Umberto Eco’s essay Ur-Fascism, and not only does it fulfil every criteria, it reveals other motivational forces and has evolved to include new aspects, and has changed into something worse, while it’s main weakness remain the same - the fact that it is primarily motivated by weakness.
As General Franco said in a 1938 interview with Henri Massis: "Fascism presents, wherever it manifests itself, characteristics which are varied to the extent that countries and national temperaments vary. It is essentially a defensive reaction of the organism, a manifestation of the desire to live, of the desire not to die, which at certain times seizes a whole people. So each people reacts in its own way, according to its conception of life… What can it have in common with Hitlerism, which was, above all, a reaction against the state of things created by the defeat, and by the abdication and the despair that followed it?"
This quote perfectly illustrates the transient nature of the ideology, but also the core motivations of Fascism. It is an ideology based on the assumption of weakness which yearns for restoration of a past greatness or to get revenge and recognition. But the way that it manifests itself is different in each place it takes hold.
Therefore the aim of this isn’t to make the case that any particular party or country has embraced out-right fascism (plenty of other people have made that case already), the aim is to reveal the underlying motivations, highlight threats and weaknesses and analyse the less obvious negative effects of Modern Fascism.

History Doesn’t Repeat, But It Rhymes

A false equivalence that is often used is that Liberal Imperialism is just the same as Fascism. And while it is true that imperialists use fascist dictators to extract cheap labour and resources and also dominate smaller counties in a similar way to how fascist empires aspire to rule, the key difference is that the populations of those countries are not gripped by the same fear based delusions.
And therefore more Liberal democracies are better equipped to hold their imperial position of power long term because they are better able to assess risks and react accordingly, rather than over-react based on paranoia and competing egos under excessive pressure.
This false equivalence was also used in 1930’s Germany, because far-left Communists had been co opted and infiltrated by Fascists. They would repeat the mantra that “the Social Democrats were the real racists”.
Contrary to the assumptions of most people, Fascism, as an ideology and political system of government is very distinct to white supremacy. It does of course include white supremecists, but In fact includes many other groups who have been co-opted by Fascist propaganda, or who implicitly support and enable their agenda.
Examples of modern opposition which has been repeatedly infiltrated or just simply made up by Fascists include innumerable conspiracy theories, police groups like Blue Lives Matter, militant Black nationalists, the Boogaloo movement who call for a race war, the “Proud Boys” and even sometimes supposed Anarchists, far-left Communists and Left Accelerationists.

Motivations of Fascism

Fascism distilled down to its core reason for existing is the suppression of opposition who represent workers rights and economic justice. So they patently DON’T look after their own people. They con them into submission of the state by generating jingoistic fear of “the other” - whoever is convenient on that day to blame for their problems.
Fascism is is an economic shock doctrine upon the inhabitants of the country. We don't spread fascist propaganda in tip-pot dictators because we care about the indiginous people there. We install Fascist dictators in order to remove workers rights and open up access to their natural resources.
Artificial moral panics can be engineered and real disasters used to allow corrupt oligarchs and financial predators to consolidate power further by buying up small innovative businesses who don’t have the excess capital to survive the turmoil on their own without external support. Or as a way to eradicate public services by sabotaging them and building mistrust.
They are used to erode faith in public services and institutions by rich people who simply want to pay less tax and don’t see why they should subsidise other human beings who haven’t had the same luck as them. So a major motivation of fascism is to suppress the opposition left-wing party who represent workers rights and egalitarian freedoms.
Populists claim to be against free trade and to some extent they are, but whatever they do will fail because they are interfering with the markets, so they will retreat to the power of market domination. They use their threats of trade barriers as more just more shock treatment for markets, rather than protecting actual jobs or industries.
This is a trick that has been played by Neoliberals too. But while Neoliberals use fascism as a tool for opening markets to Imperialism, they differ from Libertarians, not only because they embrace guns and weed, but they are starting from different positions to achieve the same goal;
Neoliberals seek to remove already existing public services and workers rights that lift bargaining power. But Libertarians want to STOP the government from ever providing those services and investments into the poor or enshrining workers rights.

Modern Fascist Ideology has TWO Core Reasons to Exist; Fear and Freed.

I have been researching and analysing how economic systems differ, using a SWOT analysis (Strengths, Weaknesses, Opportunities and Threads). For each economic system I tried to be as neutral, fair and balanced as possible - which included Fascism.
I might seem strange that someone who is anti-Fascist would want to explore the strenghts and opportunities of Fascist ideologies, but in doing so it reveals the real weaknesses and threats which are too important for us to ignore.
So what exactly IS Fascism? Is it just an economic doctrine or a personal philosophy about the world? The answer is both.
The ideology has TWO core reasons to exist, and TWO distinct audiences types - with one based primarily on fear and the other greed, with each having a malignant and symbiotic relationship with each other.
Fear - Authoritarian/Conservative Fascists
Greed - Libertarian Fascists
There are very few people who actually buy into full Fascist ideology, most believe a watered down version of which resembles Conservatism or right-wing populism or accelerationism, and most of them genuinely believe they aren’t fascist, even though they are being constantly fed subtle suggestions fascist ideology or that align with their plans.
But the most ironic thing is that these groups are mostly being used by the second group of rich Libertarians globalist elites pulling a confidence trick on the host nation. Often posing “anti-establishment” conspiracists who actually uphold the establishment through misinformation. See: Russia Today and Youtube Bitcoin and Gold shills who subtly suggest fascist talking points.
With those rich Libertarians at the top more than happy for those below them, who they deem less worthy, living in even more delusional ideologies with fake enemies to fear, often resembling traditional Christian but values wrapped in modern conspiracies with added elements of “satanic panic”.
Modern Fascism has clearly inspired the modern day equivalents of Brownshirts and Blackshirts, self-styled vigilantes like QAnon, The Proud Boys and “The Boogaloo” - white nationalist violent extremists who want to accelerate towards a full-on race war.
It has also infiltrated numerous alternative groups, such as hyper-evangelical “end times” cults, alternative health scenes, internet conspiracy scenes like flat earth and occult magic.

Lockdown Conspiracies

A commonly missing hallmark of fascism that is present in history during the rise of fascism is a controlled opposition and explicit suppression of opposition. This distorts a healthy society and has unforeseen consequences and blowback.
Fantasies and political thought bubbles are self delusional custom realities resembling an episode of Black Mirror. They act as coping and escape mechanisms. Especially during the Covid 19 lock-down, these tendencies have gone into overdrive with massive events entering the real world featuring David Ike leading protesters alongside fascists as people ignore rising Fascism, climate change destruction and Covid deaths tolls.
Using disasters like Covid or irrational scare tactics such as the "Satanic Panic" style Fascist propaganda from QAnon, can shock people using their fear and disgust response, while making them distrust the news - allowing the government to evade valid criticism from experts while suggesting to people that government public services are inherently evil or Communist.
This type of propaganda is a Libertarians wet dream - making a population not only give up on tax funded public services, but actively fear them. An example is Trump trying to discredit and defund the US Postal Service and other public institutions and regulatory bodies.
Anti Semitism has been used throughout history by those in power to provoke an “us vs. them” mentality, leading to today's establishment still sanctioning and allowing Qanon on major media platforms, provoking and agitating terrorist attackers from the far-left and the far-right.
Those in power in fascist regimes allow and encourage mistrust in the mainstream media, while the long-tail niche political and interest groups keep people separated from each other, who each live in their own custom realities while the real elites continue to dominate and increase their power.
With each bubble framing realities based of identity, race, class, nationality, or even subculture special interests like alternative medicine and “gamer bro” culture, so that when they interact in real life or online, they are speaking past each other because they don’t even agree on the basic principles of how they view society.

The Fatal Flaws of Living in a Fantasy

While the main flaws and weaknesses of Fascism remain the same, they are in-fact exacerbated by this new hybrid model. It’s main weakness is the very fact that it is motivated by weaknesses, fear and greed - rather than true strength, self-confidence or heroic benevolent power, as their adherents like to believe.
A misconception of fascists themselves that it is based on strength, when it is actually based on weakness - even when the driving force is greed rather than fear. Libertarian fascists want to extract labour and materials at cheaper prices, while inflating their own asset values.
In other words; international financiers with little allegiance to any country. Ironically the very type of people who Conservative fascists claim to be opposed to.
Fascism claims to make society more successful, but it actually accelerates the destruction of the culture, country or people, rather than preserving and conserving it, because it betrays a fundamental weakness of insecurity. Competitors and rivals can easily see through the charade of and take advantage.
If anything does the exact opposite. Russian and China are clearly goading Western nations into becoming more divided and totalitarian, as they themselves benefit from becoming more Liberal and open and reap the competitive advantages that brings. See Kraut’s excellent video about Trump on China as an example.
Keynesian investment in the country and people, giving workers more rights, opportunities and a more bargaining power is what makes a country successful and innovative, rather than the faux Keynesian policy of giving kickbacks to corrupt officials for government contracts and widening inequality by supporting the already rich, rather than the ordinary people.

Who Benefits in This Memetic War?

Who is going to war with who? Who is winning? A modern adage is that tankies are just fascists because of their support of authoritarian proto-fascist leaders and regimes who often claim to be Communist.
But from my experience talking to actual fascists, they crave a more multi-polar world where other strong leaders rise up as competition and form alliances with dictators.
So to me, it looks like Fascists are the real Tankies; wishing our enemies be stronger and wanting to accelerate towards race war or civil war that weakens the society.
Not only did Donald Trump have knowledge of Russia allowing ISIS bounties on US troops and withhold that from the public while courting Putin, I have personally heard white supremacists backing extremists Islamists in Discord servers.
Trump jumped to the defense of the people who put a 17 year old with a gun against civil rights protesters and assumed the intent before saying that the outcome should be decided by the legal system.
They share common values and beliefs like Anti Semitism, accelerationist end-times fantasies, patriarchal traditional values and a fear of outside progressive cultures. In fact modern extremists white supremecist groups share recruitment and terrorist strategies and tactics with militant islamists.
You could argue that it was inflicted by Russian or Imperialist propagandists onto the German people in order to take control of larger areas of Europe after the destabilisation of war.
Hitler and Stalin came to a non agression truce called The Molotov–Ribbentrop Pact, which as was a secret non-aggression pact between Nazi Germany and the Soviet Union that enabled those two powers to partition Poland between them.
The pact, signed in Moscow on 23 August 1939 by German Foreign Minister Joachim von Ribbentrop and Soviet Foreign Minister Vyacheslav Molotov was officially known as the Treaty of Non-Aggression between Germany and the Union of Soviet Socialist Republics.
They divided Poland under the banner of fighting “Polish Fascism” nearly a century ago with both sides ultimately lying to their own people about spreading freedom while being authoritarian to their core and being able to blame “the other” as being the cause of all their problems.
But these days fascism seems to be a rogue meme that no longer serves any particular group. It is pathologically damaging to any society that it happens to grip.
Even the aforementioned Libertarians and accelerationists who think they are benefiting are only temporarily gaining by market price volatility. They ultimately lose through the blowback effect of the whirlpool they create.

Psychopathy, Alienation Nihilism and Insecurity

It is well established that Fascist dictators are driven by psychopathic characters and tendencies. They either don’t care about the truth, or disregard it if it’s not convenient to their narrative.
In totalitarian despotic societies facts are reversed. As George Orwell proclaimed throughout his writings; “War is peace. Freedom is slavery. Ignorance is strength.”.
Similar to how authoritarian Starlinist Communists harnessed people’s alienation and tricked them into thinking that it’s possible for the state to fully decommodify everything without having markets, money to account for things, domination or hierarchy or try to convince people that a revolution is just around the corner.
But of course, a council representative is still the head of an organisation, for all intents and purposes, because they wield executive power over others, even if the name has changed. Markets are emergent properties when groups of humans want or need a certain commodity when it becomes available.
But while both Communist and Fascist ideologies are based on lies that harness peoples alienation, fear and envy, Fascism is also especially to the weak. It is attractive to those who want to be strong again (or were never to begin with), or those who want to have a strong leader to help them.
Fascism betrays to others the inherent weakness. Like the insecure kid in school who lashes out - others around can see that it is because of their own insecurity which makes them appear even weaker. Fascism is a psychopathy driven by insecurity.
When people become so absorbed in an ideology there is a phenomena of people to self identify as an actual ideology? This produces a phenomena called Identity Protective Cognition, where people's self worth becomes attached to a belief system or ideology. So that when new information contradicts their worldview it is seen as an attack on the person themselves.
Therefore irrational, emotional quick fix thinking is the default when there is too much pressure and they feel attacked. They no longer use their slow effortful reflective thinking. (See Daniel Kahneman - Thinking, Fast and Slow)
This approach has parallels in evolutionary biology, in which a central issue is the ability to adapt to changing environments. Competency - over-competitiveness in management causes chaos which STOPS hierarchies of competence. (Insert video clips of Sapolsky on Chaos vs Reductionism etc. timestamps linked).
Fascists try to reduce variability in culture and outcomes - causes weakness of less adaptability - because as Sapolsky explains, the variability is not just noise in that type of system CAS (Complex Adaptive Systems) - the variability IS the system. It is fractal and scale free. The noise and variability is an intrinsic part of the system.
But the system doesn’t function properly when the agreed-upon parameters that individuals believe to be true aren’t universal enough to have any form of group coherence.
Birds and swarms of animals can produce amazing complex phenomena, which are greater than the sum of their individual parts. There is a “network effect” once a certain threshold and certain conditions and rules are met.
These rules can be very simple, like repulsion or attraction, or staying a certain distance apart while traveling in a similar direction, but collectively they create patterns that emerge with complexity and I dear say, a certain amount of beauty.
So what happens when millions of people are being brainwashed and misled by cults that are leaving them with a reduced ability to make decisions?
Giving them shit-for-brains just so that some rich people at the top can pay a few percentage less tax? That is the sign of a deeply sick system that cannot continue to function effectively. It is sick on so many levels.

Emergence, Complexity and Human Evolution - A Social-Biological Analysis

The problem with viewing the world through only one lens of analysis (or bucket of knowledge) is that you can fall into unnecessarily reductive thinking. (Sapolsky clips)
I describe myself as a philosophical anarchist. Which does NOT mean I want total chaos and disorder - it means I want the optimal solution to emerge - including the influences and experiences from the bottom-up.
I also think that a bottom-up (or anarchist) lens of analysis is necessary for society to run cohesively in an optimal state. If it is repressed it distorts the overall picture of reality for everyone - similar to a CEO that doesn’t listen to employees and workers on the ground.
I interpret as constantly holding authority to account - to justify its existence and reason for dominating others. I also believe it is every citizen's responsibility to hold authority to account. This would be necessary under ANY economic system or society.
Anarchists also believe in stigmenric, rhizomatic action to make the world better, organically, not from a top-down authority, which fascism seeks to instill on society.
Human beings are collectively parts of a bigger chaotic but stable system known as a CAS (Complex Adaptive System). CAS’s are chaotic systems that can reach periodic steady states of equilibrium.
As Professor Sapolsky explains, humans uniquely exist with a mixture of both communal and individualistic tendencies; known in the scientific world as Tournament vs. pair bonding.
All the evidence suggests that this tendency has greatly improved our success as a species. But those tendencies distorted too far one way or another lead to pathologies and the worst collective misdeeds and wars.
Because as Professor Sapolsky also explains in his brilliant lecture series (which I have condensed the pertinent parts of into a 4 part YouTube video) about CAS; the signals coming from the randomness is being suppressed or repressed, it interferes with the functioning of the system.
Pressure in the system makes the patterns more complex but at a certain point of increasing pressure in the complex system, it stops being linear and the doubling of patterns and periodicity totally stops. Order completely begins to break down because of the butterfly effect.
Fascist regimes fettishise order and rigidity but in a complex adaptive system, the noise IS the phenomena, not a byproduct to be discarded, ignored or repressed.
The majority of people on the right genuinely want to help society by bringing order, using top-down draconian measures if necessary. Whereas the left generally wants to help society by proactively building from the bottom up.
I think both of these approaches are necessary to be balanced properly for a healthy functioning society to emerge.
It seems our tendency to harness both traits and to focus intently on one or the other is our greatest collective strength, while also being our greatest weakness.
And similarly, on an individual level I believe our greatest strengths and weakness are the fact that our brains work efficiently by categorising information to filter out the unimportant bits that slow us down.
As the book by Daniel Kahneman - Thinking, Fast and Slow, brilliantly explains, slow deliberate, consideration thinking takes energy and time, so our brains developed filters which come out as biases. This is an inherent weakness of the human brain.
Now imagine the butterfly effect on the life of just one person who is influenced by the brainworms of QAnon cults or conspiracies which distorts their internal models of the world which they use to filter information about the world
The sad and shocking stories on forums like QanonCasualties show the devastating effects on their close friends, family and work life - amplified by their ever increasingly disconnected lives. (insert Flat earther clip - zoom in on idiot rolling head)
Now scale that up to the level of a whole of a society, a country, or the world? This is a collective madness to cope with and avoid the reality facing us as a species.
Only collective action with agreed basic facts to work from will do to avoid the total descent into actual chaos and destruction.

TLDR; Conclusion and Final Thoughts

In this essay I will have put forward the case for the following four key arguments being true and I have present supporting evidence to explain the logical reasoning for why our current definitions need updating and the threat levels reassed, from a non-hysterical but critical perspective. The overall claims I made are:
  1. Modern Fascism has taken over right-wing populism and bears all the hallmarks of early 20th Century Fascist ideologies.
  2. The ideology has two main reasons to exist, and two distinct audiences which both have a symbiotic, pathological relationship with each other.
  3. The main flaws and weaknesses of fascist ideology remain the same as ever - that fascism is motivated by irrational fears, greed and self deception.
  4. Modern Fascism has major unforeseen damaging consequences for individuals, governments, organisational dynamics, and society at large.
This reality is something I think a lot of fascists, ultra-nationalists and people who have been influenced by the propaganda know deep down on some level already - that they are avoiding the realities of pandemics and ecological harms of ignoring science and reality as it is.
They ignore it because fantasies are simpler to understand. And a narrative based on fear of the other is a simpler way to to process a complex world.
It is also attractive to the part of us that is drawn to conflict and drama - that hunger for something genuinely interesting to happen.
But I would argue from my experience that the beautiful complexity of life in all it’s shades of grey is much more interesting, fun and genuinely fulfilling to understand and engage in, even if it might be harder to deal with and harder to explain.
I believe it is also vital for the very survival of our species.
Thank you to my two Patrons:
Carmen Jongepier
E.V. Roske
(PS, Please, please consider helping me directly as a one off or regularly through Patron to help me continue to make content like and turn it into a high quality video this while surviving, I have just been dumped by my long term partner, I have a long-term physical disability limiting me while struggling to claim the benefits I’m entitled to and have paid into all my life. I now need to move out because I can’t afford to live here anymore on my own. I needed to finish this project before I could get on with other things in my life but I desperately need to focus on fixing myself now I have got this out)
Original Script on Patreon
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05-16 08:14 - 'Can't the same be said for any industry though? All industries use energy and some of that energy will inherently come from fossil fuels. If burning coal is the cheaper option vs. renewables, then 9/10 companies will choose coal...' by /u/sc0obyd0o removed from /r/news within 9-19min

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Can't the same be said for any industry though? All industries use energy and some of that energy will inherently come from fossil fuels. If burning coal is the cheaper option vs. renewables, then 9/10 companies will choose coal, irrespective of whether the company has anything to do with bitcoins.
If free / low-cost renewable solutions become cheaper than coal, then naturally companies will switch away from coal, bitcoin mining is no different. The value of the currency is not intrinsically tied to dirty energy. Bitcoin miners will go where it's cheapest to mine, regardless of energy type.
Although I do see your point on the Visa vs. Bitcoin energy used per transaction argument, most of us, myself included, get along fine with Visa and Paypal which work 99% of the time.
I think the trade off would be that a Bitcoin transaction is arguably worth "more" since it's censorship free and deflationary.
In 2011 PayPal freezes WikiLeak's account due to them publishing military documents & videos outlining the civilian casualties in the Afghan war.
Bitcoin saved WikiLeaks from collapsing since its impossible to "block" a Bitcoin transaction or "freeze" a Bitcoin account. Bitcoin solves the double-spend problem in computer science meaning that anyone can receive bitcoin without the need for a middle man ( Paypal / Visa). No one can even attempt to censor you since there is no middle man to pressure.
[[link]2
Of course, most of us have no need for an unstoppable, non-confiscatable, supplied capped type of money. But for more libertarian minded folks that believe freedom of speech includes money and that perhaps money and state should be divided; then Bitcoin is the perfect solution.
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Author: sc0obyd0o
1: ww**forb***c*m/site*/*ogerhu*n**2019/04/26*how-*itco*n*a**-*i*ile*k*-sav*d-e*ch-*the#6fb9423474a* 2: *w***orbe***om/s*tes*roger**ang*2019/04/26**ow-bi*coin-and**ikilea*s-saved*eac**o*h*#*f*9423474a5*^^1
Unknown links are censored to prevent spreading illicit content.
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Why we won't have a long term bear market, and how to systematically pick your future investments in crypto

With so much uncertainty right now it would be a good time to take some time to go over what happened recently and how to invest moving foward. We've seen a peak bubble at around 850 billion total market cap in the first week of January, consolidated down to $750 billion and have now just experienced a 40% correction.

What's happening now and how bad will it get?

First of all you should realize that there is a January Dip that happens every year, when we see a roughly 20-30% decline around mid January. This year its been much more severe though for several additional factors that have compounded on top.
Different theories exist on why this happens (its actually the mirror opposite of the "January Effect" that happens in the US stock market), but the two major theories are:
1) Asian markets pull into fiat because of Asian New Year spending needs
2) People in the US sell in January to defer their capital gains tax liability an extra year
While this cyclic event has lead to a healthy correction in the last few years, this year we got these new factors making more fear as well:
So in essence we got a storm of scary news along with the usual cyclic downturn. Currently I don't see this as being a systematic crash like Mt.Gox was that would lead to a long term bear market because the fundamental ecosystem is still intact, and I suspect that after about a month we should consolidate around a new low. All the exchanges are still operational and liquid, and there is no breakdown in trust nor uncertainty whether you'll be able to cash out. What range the market trades in will all depend how Bitcoin does, right now we've already broken below 10K but I'm seeing a lot of support at around $8000, which is roughly where the long term MA curve settles. We don't know how bad it will get or what the future will bring, but as of right now we shouldn't be in a bear market yet.
What should you do if you recently entered the market?
If you did buy in the last few months at or near ATH, the very worst thing you can do now is sell in panic and lose your principal. You shouldn't have more money in crypto than you can afford to lose, so it shouldn't be a problem to wait. You have to realize that 30% corrections in crypto are relatively common, just last fall we had a 40% flash correction over more China fears. Unless there is a systematic breakdown like we had during Mt.Gox, the market always recovers.
The other worst thing you can do is unload into Tether as your safety net. If there is one thing that could actually cause a long term destruction of trust within the cryptocurrency investment ecosystem, its Tether having a run up on their liabilities and not having enough reserve to cover the leverage. It would not only bring down exchanges but lead to years of litigation and endless media headlines that will scare off everybody from putting fiat in. I don't know when the next Mt.Gox meltdown will occur but I can almost guarantee it will involve Tether. So stay away from it.
What should long term investors do?
For long term holders a good strategy to follow each year is to capture profit each December and swallow the capital gains taxation liability, park a reserve of fiat at Gemini (whose US dollar deposits are FDIC-insured) and simply wait till around late January to early February to re-enter the market at a discount and hold all year until next December. You can keep a small amount in core coins in order to trade around various Q1 opportunities you anticipate. Others may choose to simply do nothing and just keep holding throughout January which is also a perfectly fine strategy. The cyclical correction usually stabilizes toward late January and early February, then we see a rise in March and generally are recovered by end of April. Obviously this decision whether to sell in December to profit on the dip and pay tax liability or to just hold will depend on your individual tax situation. Do your own math sometime in November and follow suit.
Essentially revaluate your positions and trim your position sizes if you don't feel comfortable with the losses.

How to construct your portfolio going forward

Rather than seeing the correction as a disaster see it as a time to start fresh. If you have been FOMO-ing into bad cryptos and losing money now is a time to start a systematic long term approach to investing rather than gambling.
Follow a methodology for evaluating each cryptocurrency
Memes and lambo dreams are fun and all, but I know many of you are investing thousands of dollars into crypto, so its worth it to put some organized thought into it as well. I can't stress enough how important it is to try and logically contruct your investment decisions. If you follow a set methodology, a checklist and template you will be able to do relative comparisons between cryptocurrencies, to force yourself to consider the negatives and alternative scenarios and also sleep comfortably knowing you have a sound basis for your investment decisions (even if they turn out to be wrong).
There is no ideal or "correct" methodology but I can outline mine:
1) Initial information gathering and filtering
Once I identify something that looks like a good potential investment, I first go to the CoinMarketCap page for that symbol and look at the website and blockchain explorer.
  • Critically evaluate the website. This is the first pass of the bullshit detector and you can tell from a lot from just the website whether its a scam. If it uses terms like "Web 4.0" or other nonsensical buzzwords, if its unprofessional and has anonymous teams, stay away. Always look for a roadmap, compare to what was actually delivered so far. Always check the team, try to find them on LinkedIn and what they did in the past.
  • Read the whitepaper or business development plan. You should fully understand how this crypto functions and how its trying to create value. If there is no use case or if the use case does not require or benefit from a blockchain, move on. Look for red flags like massive portions of the float being assigned to the founders of the coin, vague definition of who would use the coin, anonymous teams, promises of large payouts...etc
  • Check the blockchain explorer. How is the token distribution across accounts? Are the big accounts holding or selling? Which account is likely the foundation account, which is the founders account?
  • Read the subreddit and blogs for the cryptocurrency and also evaluate the community. Try to figure out exactly what the potential use cases are and look for sceptical takes. Look at the Github repos, does it look empty or is there plenty of activity?
2) Fill out an Investment Checklist
I have a checklist of questions that I find important and as I'm researching a crypto I save little snippets in Evernote of things that are relevant to answering those questions:
  • What is the problem or transactional inefficiency the coin is trying to solve?
  • What is the Dev Team like? What is their track record? How are they funded, organized?
  • Who is their competition and how big is the market they're targeting? What is the roadmap they created?
  • What current product exists?
  • How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional?
  • What are the weaknesses or problems with this crypto?
3) Create some sort of consistent valuation model/framework, even if its simple
I have a background in finance so I like to do Excel modeling. For those who are interested in that, this article is a great start and also Chris Burniske has a great blog about using Quantity Theory of Money to build an equivalent of a DCF analysis for crypto.
Here is an Excel file example of OMG done using his model. You can download this and play around with it yourself, see how the formulas link and understand the logic.
Once you have a model set up the way you like in Excel you can simply alter it to account for various float oustanding schedule and market items that are unique to your crypto, and then just start plugging in different assumptions. Think about what is the true derivation of value for the coin, is it a "dividend" coin that you stake within a digital economy and collect fees or is it a currency? Use a realistic monetary velocity (around 5-10 for currency and around 1-2 for staking) and for the discount rate use at least 3x the long term return of a diversified equity fund.
The benefit is that this forces you to think about what actually makes this coin valuable to an actual user within the digital economy its participating in and force you to think about the assumptions you are making about the future. Do your assumptions make sense? What would the assumptions have to be to justify its current price? You can create different scenarios in a matrix (optimistic vs. pessimistic) based on different assumptions for risk (discount rate) and implementation (adoption rates).
If you don't understand the above thats perfectly fine, you don't need to get into full modeling or have a financial background. Even a simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do
  • Metcalfe's Law which states that the value of a network is proportional to the square of the number of connected users of the system (n2). So you can compare various currencies based on their market cap and square of active users or traffic.
  • Another easy one is simply looking at the total market for the industry that the coin is supposedly targeting and comparing it to the market cap of the coin. Think of the market cap not only with circulating supply like its shown on CMC but including total supply. For example the total supply for Dentacoin is 1,841,395,638,392, and when multiplied by its price in early January we get a market cap that is actually higher than the entire industry it aims to disrupt: Dentistry.
  • If its meant to be just used as just a currency: Take a look at the circulating supply and look at the amount that is in cold storage or set to be released/burned. Most cryptos are deflationary so think about how the float schedule will change over time and how this will affect price.
Once you have a model you like set up, you can compare cryptos against each other and most importantly it will require that you build a mental framework within your own mind on why somebody would want to own this coin other than to sell it to another greater fool for a higher price. Modeling out a valuation will lead you to think long term and think about the inherent value, rather than price action.
Once you go through this 3-step methodology, you'll have a pretty good confidence level for making your decision and can comfortably sit back and not panic if some temporary short term condition leads to a price decrease. This is how "smart money" does it.
Think about your portfolio allocation
You should think first in broad terms how you allocate between "safe" and "speculative" cryptos.
For new investors its best to keep a substantial portion in what would be considered largecap safe cryptos, primarily BTC, ETH, LTC. I personally consider XMR to be safe as well. A good starting point is to have between 50-70% of your portfolio in these safe cryptocurrencies. As you become more confident and informed you can move your allocation into speculative small caps.
You should also think in terms of segments and how much of your total portfolio is in each segment:
  • Core holdings - BTC, Ethereum, LTC...etc
  • Platform segment - Ethereum, NEO, Ark...etc
  • Privacy segment - Monero, Zcash, PivX..etc
  • Finance/Bank settlement segment - Ripple, Stellar...etc
  • Enterprise Blockchain solutions segment -VeChain, Walton, WABI...etc
  • Promising/Innovative Tech segment - Raiblocks, IOTA, Cardano...etc
You should also think about where we are in the cycle, as now given so much uncertaintly its probably best to stay heavily in core holdings and pick up a few coins within a segment you understand well. If you don't understand how enterprise solutions work or how the value chain is built through corporations, don't invest in the enteprise blockchain solutions segment. If you are a technie who loves the technology behind Cardano or IOTA, invest in that segment.
Think of your "circle of competence"
This is actually a term Buffet came up with, it refers to your body of knowledge that allows you to evaluate an investment. Think about what you know best and consider investing in those type of coins. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain or WaltonChain will achieve adoption?
This where your portfolio allocation also comes into play. You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every segment and for every type of crypto you come across. If you had over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well.
Continually educate yourself about the technology and markets
If you aren't already doing it: Read a bit each day about cryptocurrencies. There are decent Youtubers that talk about the market side of crypto, just avoid those that hype specific coins and look for more sceptical ones like CryptoInvestor. If you don't understand how the technology works and what the benefits of a blockchain are or how POS/POW works or what a DAG is or how mining actually works, learn first. If you don't care about the technology or find reading about it tedious, you shouldn't invest in this space at all.

Summing it up

I predicted a few days ago that we would have a major correction in 2018 specifically in the altcoins that saw massive gains in Decemebeearly January, and it seems we've already had a pretty big one. I don't think we'll have a complete meltdown like some are predicting, but some more pain may be incoming.
Basically take this time to think about how you can improve your investment style and strategy. Make a commitment to value things rather than chasing FOMO, and take your time to make a decision. Long term investment will grant you much more returns as will a systematic approach.
Take care and have fun investing :)
Edit March 2018: Lol looking back I'm regretting starting the title with "Why we won't have a long term bear market" now, I was more karma whoring with that catchy title than anything. We recovered up to 11K from this post, but then crashed again hard later in February-March because of a slew of reasons from Tether subpeona to unforseen regulatory issues.
submitted by arsonbunny to CryptoCurrency [link] [comments]

Want to start fresh after the crypto crash? Here is a comprehensive guide on how to invest and prosper over the long term.

Well its happened, the crypto market just experienced the worst crash since 2014, the bubble has burst. The idiocy of newbies FOMO-ing into anything with low nominal value lead to endless twitter timelines like this, and now nobody has any idea where the market settles. What do you do now?
In the following weeks it will be a good time to rethink your investment approach and how you arrive at your decisions. Just buying whatever is shilled on Twitter or Reddit and jumping from one crypto to another isn't going to work like it did these last two months.
The good news is that we're finally back closer and closer to our long term moving average which is much more healthy for entrants, the bad news is that the fear might continue compounding if outstanding issues are not dealt with. Tether is the big concern for me personally for reasons I've stated many times, but some relief in the short term may come if the SEC and CFTC meeting on February 6th goes well. Nobody really knows where the bottom is but I think we're now past the "irrational exhuberance" stage and we're entering a period of more serious inspection where cryptos will actually have to prove themselves as useful. I suspect hype artists like CryptoNick and John McAfee will fall out of favor.
But perhaps most importantly use this as a learning experience, don't try to point fingers now. The type of dumb behavior that people were engaging in that was rewarded in a bull market (chasing pumps, going all in on a shillcoin, following hype..etc) could only ever lead to what we are experiencing now. Just like so many people jumped on the crypto bandwagon during the bull run, they will just as quickly jump on whatever bandwagon is to be used to blame for the deflation of the bubble. Nobody who pumped money into garbage without any use case will accept that they themselves with their own investing behavior were the real reason for the gross overvaluation of most cryptocurrencies, and the inevitable crash.
So if you're looking for a fresh start after the massacre (or just want to get in now), here is a guide:

Part A: Making a Investment Strategy

This is your money, put some effort into investing it with an actual strategy. Some simple yet essential advice that should apply to everyone, regardless of individual strategy:
  1. Slow down and research each crypto that you're buying for at least a week.
  2. Don't buy something just because it has risen.
  3. Don't exit a position just because it has declined.
  4. Invest only as much as you can afford to lose.
  5. Prepare enter and exit strategies in advance.
First take some time to think about your ROI target, set your hold periods for each position and how much you are actually ready to risk losing.
ROI targets
A lot of young investors who are in crypto have unrealistic expectations about returns and risk. A lot of them have never invested in any other type of financial asset, and hence many seem to consider a 5-10% ROI in a month to be unexciting.
But its important to temper your hype and realize why we had this exponential growth in the last year and how unlikely it is that we see 10x returns in the next year. What we saw recently was Greater Fool Theory in action. Those unexciting returns of 5-10% a month are much more of the norm, and much more healthy for an alternative investment class.
You can think about setting a target in terms of the market ROI over a relevant holding period and then add or decrease based on your own risk profile.
Example: Calculating a 2 year ROI target
Lets say you want to hold for 2 years now, how could you set a realistic target to strive for? You could look at a historical 2 year return as a base, preferably during a period similar to what we're facing now. Now that we had a major correction, I think we can look at the two year period starting in 2015 after we had the 2014 crash. To calculate a 2 year CAGR starting in 2015:
Year Total Crypto Market Cap
Jan 1, 2015: $5.5 billion
Jan 1, 2017: $18 billion
Compounded annual growth return (CAGR): [(18/5.5)1/2]-1 = 81%
This annual return rate of 81% comes out to about 4.9% compounded monthly. This may not sound exciting to the lambo moon crowd, but it will keep you grounded in reality. You can aim for a higher return (say 2x of that 81% rate) if you choose to take on more risky propositions. I can't tell you what return target you should set for yourself, but just make sure its not depended on you needing to achieve continual near vertical parabolic price action in small cap shillcoins because that isn't sustainable.
Once you have a target you can construct your risk profile (low risk vs. high risk category coins) in your portfolio based on your target.
Risk Management
Everything you buy in crypto is risky, but it still helps to think of these 3 risk categories:
How much risk should you take on? That depends on your own life situation for one, but also it should be proportional to how much expertise you have in both financial analysis and technology.
The general starting point I would recommend is:
Some more core principles on risk management to consider:
You can think of each crypto having a risk factor that is the summation of the general crypto market risk (Rm), but also its own inherent risk specific to its own goals (Ri).
Rt = Rm +Ri
The market risk is something you cannot avoid, it is essentially the risk that is carried by the entire market over things like regulations. What you can minimize though the Ri, the specific risks with your crypto. That will depend on the team composition, geographic risks (for example Chinese coins like NEO carry regulatory risks specific to China), competition within the space and likelihood of adoption and other factors, which I'll describe in Part 2: Crypto Picking Methodology.
Portfolio Allocation
Along with thinking about your portfolio in terms of risk categories described above, I really find it helpful to think about the segments you are in. OnChainFX has some segment categorization but I generally like to bring it down to:
Think about your "Circle of Competence", your body of knowledge that allows you to evaluate an investment. Your ability to properly judge risk and potential is going to largely correlated to your understanding of the subject matter. If you don't know anything about how supply chains functions, how can you competently judge whether VeChain or WaltonChain will achieve adoption? If you don't understand anything about the tech when you read the Cardano paper, are you really able to determine how likely it is to be adopted?
Consider the historic correlations between your holdings. Generally when Bitcoin pumps, altcoins dump but at what rate depends on the coin. When Bitcoin goes sideways we tend to see pumping in altcoins, while when Bitcoin goes down, everything goes down.
You should diversify but really shouldn't be in much more than around 12 cryptos, because you simply don't have enough competency to accurately access the risk across every segment and for every type of crypto you come across. If you have over 20 different cryptos in your portfolio you should probably think about consolidating to a few sectors you understand well.

Part B: Crypto Picking Methodology (Due Dilligence)

Do you struggle on how to fundamentally analyze cryptocurrencies? Here is a 3-step methodology to follow to perform your due dilligence:

Step 1: Filtering and Research

There is so much out there that you can get overwhelmed. The best way to start is to think back to your own portfolio allocation strategy and what you would like to get more off. For example in my view enterprise-focused blockchain solutions will be important in the next few years, and so I look to create a list of various cryptos that are in that segment.
Upfolio has brief descriptions of the top 100 cryptos and is filterable by categories, for example you can click the "Enterprise" category and you have a neat list of VEN, FCT, WTC...etc.
Once you have a list of potential candidates, its time to read about them:
  • Critically evaluate the website. If it's a cocktail of nonsensical buzzwords, if its unprofessional and poorly made, stay away. Always look for a roadmap, compare to what was actually delivered so far. Always check the team, try to find them on LinkedIn and what they did in the past.
  • Read the whitepaper or business development plan. You should fully understand how this crypto functions and how its trying to create value. If there is no use case or if the use case does not require or benefit from a blockchain, move on.
  • Check the blockchain explorer. How is the token distribution across accounts? Are the big accounts selling? Try to figure out who the whales are (not always easy!) and what the foundation/founder account is based on the initial allocation.
  • Look at the Github repos, does it look empty or is there plenty of activity?
  • Search out the subreddit and look at a few Medium or Steem blogs about the coin. How "shilly" is the community, and how much engagement is there between developer and the community?
  • I would also go through the BitcoinTalk thread and Twitter mentions, judge both the length and quality of the discussion.
You can actually filter out a lot of scams and bad investments by simply keeping your eye out on the following red flags:
  • allocations that give way too much to the founder
  • guaranteed promises of returns (Bitcooonnneeeect!)
  • vague whitepapers filled with buzzwords
  • vague timelines and no clear use case
  • Github with no useful code and sparse activity
  • a team that is difficult to find information on

Step 2: Passing a potential pick through a checklist

Once you feel fairly confident that a pick is worth analyzing further, run them through a standardized checklist of questions. This is one I use, you can add other questions yourself:
Crypto Analysis Checklist
What is the problem or transactional inefficiency the coin is trying to solve?
What is the Dev Team like? What is their track record? How are they funded, organized?
How big is the market they're targeting?
Who is their competition and what does it do better?
What is the roadmap they created and how well have they kept to it?
What current product exists?
How does the token/coin actually derive value for the holder? Is there a staking mechanism or is it transactional?
Is there any new tech, and is it informational or governance based?
Can it be easily copied?
What are the weaknesses or problems with this crypto?
The last question is the most important.
This is where the riskiness of your crypto is evaluated, the Ri I talked about above. Here you should be able to accurate place the crypto into one of the three risk categories. I also like to run through this checklist of blockchain benefits and consider which specific properties of the blockchain are being used by the specific crypto to provide some increased utility over the current transactional method:
Benefits of Cryptocurrency
Decentralization - no need for a third party to agree or validate transactions.
Transparency and trust - As blockchain are shared, everyone can see what transactions occur. Useful for something like an online casino.
Immutability - It is extremely difficult to change a transaction once its been put onto a blockchain
Distributed availability - The system is spread on thousands of nodes on a P2P network, so its difficult to take the system down.
Security - cryptographically secured transactions provide integrity
Simplification and consolidation - a blockchain can serve as a shared ledger in industries where multiple entities previously kept their own data sources
Quicker Settlement - In the financial industry when we're dealing with post-trade settlement, a blockchain can drastically increase the speed of verification
Cost - in some cases avoiding a third party verification would drastically reduce costs.

Step 3: Create a valuation model

You don't need to get into full modeling or have a financial background. Even a simple model that just tries to derive a valuation through relative terms will put you above most crypto investors. Some simple valuation methods that anyone can do:
Probablistic Scenario Valuation
This is all about thinking of scenarios and probability, a helpful exercise in itself. For example: Bill Miller, a prominent value investor, wrote a probabilistic valuation case for Bitcoin in 2015. He looked at two possible scenarios for probabalistic valuation:
  1. becoming a store-of-value equal to gold (a $6.4 trillion value), with a .25% probability of occurring
  2. replacing payment processors like VISA, MasterCard, etc. (a $350 million dollar value) with a 2.5% probability
Combining those scenarios would give you the total expected market cap: (0.25% x 6.4 trillion) + (2.5% x 350 million). Divide this by the outstanding supply and you have your valuation.
Metcalfe's Law
Metcalfe's Law which states that the value of a network is proportional to the square of the number of connected users of the system (n2). So you can compare various currencies based on their market cap and square of active users or traffic. We can alter this to crypto by thinking about it in terms of both users and transactions:
For example, compare the Coinbase pairs:
Metric Bitoin Ethereum Litecoin
Market Cap $152 Billion $93 Billion $7.3 Billion
Daily Transactions (last 24hrs) 249,851 1,051,427 70,397
Active Addresses (Peak 1Yr) 1,132,000 1,035,000 514,000
Metcalfe Ratio (Transactions Based) 2.43 0.08 1.47
Metcalfe Ratio (Address Based) 0.12 0.09 0.03
Generally the higher the ratio, the higher the valuation given for each address/transaction.
Market Cap to Industry comparisons
Another easy one is simply looking at the total market for the industry that the coin is supposedly targeting and comparing it to the market cap of the coin. Think of the market cap not only with circulating supply like its shown on CMC but including total supply. For example the total supply for Dentacoin is 1,841,395,638,392, and when multiplied by its price in early January we get a market cap that is actually higher than the entire industry it aims to disrupt: Dentistry.
More complex valuation models
If you would like to get into more fleshed out models with Excel, I highly recommend Chris Burniske's blog about using Quantity Theory of Money to build an equivalent of a DCF analysis for crypto.
Here is an Excel file example of OMG done by Nodar Janashia using Chris' model .
You should create multiple scenarios with multiple assumptions, both positive and negative. Have a base scenario and then moderately optimistic/pessimistic and highly optimistic/pessimistic scenario.
Personally I like to see at least a 50% upward potential before investing from my moderately pessimistic scenario, but you can set your own safety margin.
The real beneficial thing about modelling isn't even the price or valuation comparisons it spits out, but that it forces you to think about why the coin has value and what your own assumption about the future are. For example the discount rate you apply to the net present utility formula drastically affects the valuation, and it reflects your own assumptions of how risky the crypto is. What exactly would be a reasonable discount rate? What about the digital economy you are assuming for the coin, what levers affects its size and adoption and how likely are your assumptions to come true? You'll be a drastically more intelligent investor if you think about the fundamental variables that give your coin the market cap you think it should hold.

Summing it up

The time for lambo psychosis is over. But that's no reason to feel down, this is a new day and what many were waiting for. I've put together in one place here how to construct a portfolio allocation (taking into consideration risk and return targets), and how to go through a systematic crypto picking method. I'm won't tell you what to buy, you should always decide that for yourself and DYOR. But as long as you follow a rational and thorough methodology (feel free to modify anything I said above to suit your own needs) you will feel pretty good about your investments, even in times like these.
Edit: Also get a crypto prediction ferret. You won't regret it.
submitted by arsonbunny to CryptoCurrency [link] [comments]

Try Brave, browser which pays you

Try Brave, browser which pays you

Brave Browser Review – What Makes Brave Browser Special?

Brave Browser is the latest unique browser to join the ever-expanding market. The open source and free browser from Brave Software Inc. has positioned itself as the browser that loads faster with better privacy protection. The firm was co-founded by Brendan Eich, the creator of JavaScript and a co-founder of Mozilla. Brave keeps data safe and provides users with the power to save or delete it. It features a built-in ad tracker and blocker. Unlike most common browsers, Brave also helps to fight phishing and malware. Below, we’ve analyzed what are the things that makes Brave browser special – and if you wanna give it a try, you can easily download it from here.

Understanding the Brave Browser Model

Brave is a more-or-less standard browser that lets users browse, run web apps and display online content. It is free to download and use. Furthermore, Brave remembers site authentication information. When Brave joined the market, it caused a buzz due to its unusual business model. The default ad blocking was viewed by many as a threat to content creators. It changed the traditional way of digital advert delivery. Brave also managed to realize the dream of getting paid to browse.

The Brave Browser User Interface

https://preview.redd.it/f6ciyn35frh31.png?width=1034&format=png&auto=webp&s=03a1c5c7975830b14fe28bb613388d6038e56378
Brave offers a clean and crisp interface that is intuitive to use. It has all the elements you would expect in your ideal browser. Furthermore, Brave’s individual tabs support icons for quick identification, and hovering the cursor over a tab offers details on the page in that tab without having to click on the tab and activate it.
The browser also displays statistics about the content the browser has blocked. These statistics are very useful. Furthermore, it displays photos, the current time and shortcuts to your favorite sites. Like other websites, one would expect these features to have an effect on speed. However, this is not the case. Brave is very easy to use, with a streamlined design and the useful option to preview the content of tabs

Brave Rewards System For Content Creators and Users


https://preview.redd.it/gle1dcj9frh31.jpg?width=810&format=pjpg&auto=webp&s=18d3567249e761af2be4645a0ded76664da1e0f9
Content creators depend on ads to sustain their operations. However, the ads are not displayed on Brave browser. So how does Brave browser support online publishers?
The browser has a unique approach when it comes to compensating of creators. Rewarding is done through the Brave Ads network and user donations. Publishers are required to register with the network before qualifying for revenue. Registered publishers earn 55% of the replaced ad revenue.
Brave comes with an inbuilt BAT wallet. This wallet enables users to support their favorite websites. Users can load the wallet and allocate a specified amount of BAT to their preferred sites. The wallet can be funded through Bitcoin, Litecoin, Ethereum, and BAT token. Credit card holders use payment processor Uphold. You can set a monthly budget of BAT to be automatically distributed to sites you frequently visit. You also have the power to set the percentage to be contributed. Brave users are not able to view any ads but still, support their favorite website.
For users, you can earn in BAT by browsing Brave enabled sites. If users consent to replace usual adverts, with anonymous adverts from Brave, they get paid in Basic Attention Token (BAT). A single user gets 15% of the revenue. The revenue depends on the time you spend on Brave Browser.
However, you have to enable Brave ads because the browser blocks all ads by default. Before receiving any payments, the BAT token wallet needs to be activated first.
For users who don’t want to support any website, they neither earn nor contribute. They enjoy fast browsing.

Why Brave Settled For BAT

https://preview.redd.it/kv0t9qqcfrh31.png?width=1600&format=png&auto=webp&s=b216b6a7ec9a4a6ed4441040db84027450f367f1
Current delivery of digital ads relies on tracking browsing history, cookies, search question, and third parties. Brave does not support these tactics. With the use of BAT, the role of intermediaries and tracking is eliminated from the inventory catalog of current ads.
Integration of BAT into the browser involves implementing BAT Ads system. The system displays ads to users based on locally stored information. With the data, ads targeting is done locally.
This Brave Browser model promotes privacy. The browsing history is kept private, as all data required for ad-matching never leaves your system.
We also have quality ads matching. Wrong ad matching is one of the reasons why some users hate ads. With BAT model, a user can select the ads he or she wants to see. Brave’s BAT platform shields the anonymity of users while assuring the authenticity of their viewing.
It is, therefore, safe to say that BAT represents a fundamental rethinking of the way digital ads are delivered. By the time of writing this article, BAT had a market capitalization of $244,798,134. Compared to the dollar, BAT is valued at $0.196773.

How Is Brave Browser Funded?

Brave Software’s financial life is shredded in privacy. However, the company managed to raise $35 million in just seconds by selling the BAT cryptocurrency to investors.
Brave has other revenue generation means as it kept a third of the 1.5 billion BATs and as starter seed for browser users’ wallets (300 million BATs). At the current BAT value, Brave’s 200 million equaled just over $70 million. The money will be channeled towards establishing a Blockchain-based digital advertising system.

Benefits of Brave Browser

The brave browser is gaining popularity. It has been viewed as the next Google chrome. Brave appears to be the solution to challenges that come with regular browsers. Here are some of the unique benefits of using Brave. We’ve also made a Brave vs Google Chrome comparison – you can check that out too and see our unbiased opinion about Brave and it evolution compared to Google’s giant.

Default Ad Blocker

https://preview.redd.it/9u2bc2qhfrh31.png?width=1402&format=png&auto=webp&s=7f85f0c79ec03d51585da08f36d0a63926fec222
Brave blocks ads automatically. Users are no longer required to search the web for a perfect ad blocker. The auto-blocking protects your device from malware and extensive tracking by advertisers. Brave is also working on a plan to replace ads that appear harmful.
Tracking ads by Brave is accurate. Users are served with the right ads because Brave does the tracking using local data. If an ad is irrelevant to the user, it is pulled down. You get the appropriate ads based on this model. A user’s data stays within the device since we have no third parties involved.
While Brave blocks third-party cookies, the first party cookies are not blocked by default. Users have the option to prevent or enable cookies on a given website.
However, Brave does not block ads displayed in search results. You will be able to see AdWords advertisements within Google’s results. This is because Ad blocking extensions don’t stymie search ads either.

Improved Privacy During Browsing

Blocking of malicious ads automatically allows safe browsing. Brave does not have access to identifiable user data. The anonymity aggregated ad campaign related data is used for accounting. However, this data cannot be traced back to a user’s device.
Brave also comes with additional tactics to boost privacy while browsing. The incorporation of HTTPS everywhere allows usage of web encryption whenever available.
The fingerprinting feature bars third parties from tracking your activity. This feature can be activated in the settings tab.

Brave is Faster

Brave’s load speeds emerge on top. Fast browsing is supported by Brave’s lack of thirds party ads. You, therefore, have less content to download before accessing your favorite website. However, Brave’s rendering speeds come a bit after Google Chrome and Mozilla.

You Get Paid To Browser – If You Want

The concept of getting paid for browsing has been a dream. However, Brave browser has changed the game. All you have to do is to enable Brave ads. View the ads and get 15% of the revenue. For content creators, you are supported by users who love your content. All payments are in the form of BAT tokens.

How Does Brave Browser Work?

The brave browser is available on iOS, Android, macOS, Windows, and Linux platforms. Users on these platforms can browse securely, and fast. It accomplishes this without using a lot of your computer’s memory. Unlike most common browsers, Brave does not use much RAM. Brave uses at least 170MB of your RAM. It is important to note that Brave is a chromium based browser. Browsers built on this platform are known to consume a lot of memory, but Brave stands out.

Brave’s Use of Chrome extensions

Brave is set up on the Chromium platform. Chromium is an open-source system that also powers popular browsers like Google Chrome and soon Microsoft Edge. Based on the Chromium capability, you can almost use all Chrome extensions on Brave. The extensions on Chrome can be added to Brave through the Chrome Web Store. Make sure you read messages accompanying extensions carefully. It is up to you to make responsible decisions when installing 3rd party extensions with respect to your data. You can enable, disable, remove and view additional details/options for your installed extensions in the extensions window.
Pros
  • Interface. Brave offers a simple, clean and intuitive interface.
  • Speed. Based on the default ad blocker, Brave’s speed is fast.
  • Ad and tracker blocking. Brave’s ad-blocking is a new one in the industry.
  • Privacy and security. Along with its blocking features, Brave’s anti-tracking tools are among the best.
  • Allows Chrome extensions
Cons
  • Brave Rewards. Brave’s opt-in ad display and compensation program not clear to many people.

Who is Behind Brave?

The Brave browser was co-founded by Brendan Eich. He is the creator of the Javascript programming language. Brendan is also the co-founder of Mozilla, the organization behind the open-source web browser Firefox. Brandan works along with other notable names in the tech industry. We have Brian Bondy who co-founded Brave also. Yan Zhu is the Security & Privacy Engineering personnel and she formally worked with Yahoo. Scott Locklin is the current BAT Smart Contracts and Economic manager. He is also the co-founder of Kerf Software. Here are other team members behind the Brave project. The Brave team also lined up a team of advisor led by Ankur Nandwani who previously worked with leading exchange Coinbase.

Brave Users

Since 2018, Brave browser users have grown by over 450%. Elsewhere BAT’s active users have grown from 1 million per month in January 2018 to a total of 5.5 million active users in January 2019. As seen above, Brave works along with the Basic Attention Token (BAT). In March 2019, Brave reached over 20 million downloads on the Google Play store for Android devices.
submitted by aztestnet to u/aztestnet [link] [comments]

The "I'm interested in moving to Japan" FAQ/AMA

I hosted an AMA somewhere else and it got more responses than I thought it would.
I did some searching on reddit, but found a post that was about 3 years old, and one that was from someone at a start up. Thought I could contribute from a large company perspective.
start up AMA: https://www.reddit.com/japanlife/comments/50ewvi_am_a_software_engineer_web_mobile_for_a/
a few years old AMA: https://www.reddit.com/japan/comments/34j2y3/software_engineers_of_japan_whats_it_like/
I'm going to leave some FAQs here, but feel free to ask away.
I am an American engineer at AmaAppGooBookSoft in Japan.
(Amazon or Apple or Google or Facebook or Microsoft). I transferred here from the US after working a year or so there. At the time of this writing, I have been in Tokyo for about 3 years.
Answers from OP with regards to things related to work will be in the context of these kinds of big software companies.
I would encourage others who live in Japan that are qualified to answer questions to do so! Wish I had this info before I transferred.
Q: How is the pay, hours?
A: Hours are super normal like they were in the US. Wfh, etc is like the US...but might vary by manager. I knew a designer whose Japanese boss was not on the wfh boat. Pay is terrible. Entry level engineer initial offer was 7.5M yen w/5k USD stock per year. I negotiated up to 8.25M base pay. Currently mid-level engieer and at about 9.5M yen and 15k USD/year (~105k USD total?). This is offset somewhat by affordable housing. Think 1.5k USD for a decent apartment, but smaller. Also health insurance is part of taxes, so you don't need to pay extra for it. Train commute is paid for by company. Don't need a car, either. It's a very livable salary, tbh.
Q: How is the dating scene for internationals? Are Japanese people open to dating people from other races? What about LGBTQ?
A: I'd say definitely. I met my wife here. If you are particularly looking for a date, dating apps and goukon (group dating) is a good way to go. As far as LGBTQ, yeah, for sure! Shinjuku ni cho me is the place for you (and also dating apps). (新宿二丁目)
Q: Do you like cost of living better in Tokyo than the states?
A: Yes! My total taxes are about 25% of my gross monthly salary and that includes health insurance. Clinics are insanely cheap because the government regulates the cost of medicine and pays 70% of your medical bills. I was once in the hospital for a week in a private room and it costed about 2500 USD. I opted for the fancy private room, though. My wife gave birth and it costed 2k or so. She had a private room in a hospital with amazing food for a week. I was allowed to stay in the room as well and got food. Rent is reasonable (1.5k or so) for a 700sqft place. Things that annoy me: Albums are like, 30 bucks. New release 4k Blu Ray movies range from 60-85 bucks. Old non-4k Blu Ray movies cost about 35-40 bucks. Groceries are a bit more expensive, but the quality is worth it. Our monthly food budget for 2 adults is about 800 bucks a month. Restaurants are very cheap. Like, 8-10 bucks for lunch. Usually under 1000 yen.
Q: I heard Japanese can be racists towards non Japanese living in Japan. True?
A: True! To some degree. I had the best resume a realtor had ever seen: N1 fluency in Japanese. I studied at the "Harvard of Japan" for a year. 5 year visa (longest duration). High paying job at a huge company. Stable work history. 5/6 landlords didn't give a shit. "no gaijin". You will also not receive service at probably 95% of "adult... services", if you're into that. When I was in college, a few part time jobs I applied to straight up told me they didn't hire foreigners. But once you're settled in, it's not that noticeable. Your average encounter will be pretty friendly. I'd say it's more rare to experience it.
Q: Do you know any Japanese? How essential is it in your wok and your daily life?
A: I am N1 level fluent. But I was dismayed that all that studying didn't mean anything for work, haha. Most engineers are foreigners. Everyone speaks English at the office and they have to know it because the code base is in English. Daily life, I use it all the time. My wife doesn't speak English as well as I speak Japanese. I also know several people who don't speak at all, and they seem to get by. Companies will often pay for Japanese classes as well, and let you attend during work hours.
Q: Did you just apply for Tokyo positions? How did the visa work?
A: Yup! I just applied. Visa was taken care of by a company hired by my employer. Mine was tricky because I didn't major in CS. There is a law that a work visa applicant must have a degree related to the field of work, or have 10 years experience. Since I majored in Japanese, they added "required to translate Japanese in addition to coding" to the job description, and boom. Visa. (I ended up doing semi-voluntary stuff like office hours in addition to my engineering work, where I needed to use Japanese) They'll figure it out, whatever the case is.
Q: Did you start working in Japan after graduation or moved from the US? Is it easy to get permanent residence if you wanted?
A: I transferred internally after a year or so in the US. PR is very attainable under certain circumstances. There is a point system. You get points for age (younger is better), salary, work experience, and Japanese ability. 80 points means that you only have to live in Japan for a year to get PR. 70 points, 3 years.
http://www.immi-moj.go.jp/newimmiact_3/en/evaluate/index.html
Look at the Excel sheet and find the tab for regular workers (not researchers or business owners).
Q: How comfortable is your life there compared to the US? Does money go further?
A: Very comfortable. If you buy a place (and have permanent residence), you're looking at interest rates as low as 0.495% (mine). I have a 500k USD condo and I pay about 1300/month. 33 year loan. Plus about 350/month in maintenance for the building. Groceries are a bit more expensive, but worth it. Restaurants are much cheaper. Like, 800-1000 yen for lunch. Monthly grocery budget for 2 adults is about 800 bucks (my situation, not counting baby expenses). Convenience stores are AMAZING and have great food (for a convenience store). I regularly get a crispy lettuce sandwich, onigiri and can Coffee for breakfast at the shop outside work. Spending power is pretty low, though. Most consumer goods are really expensive. New release 4k Blu Ray is about 65-80 bucks. Old Blu Rays (Disney and marvel as examples) are 35-40 bucks. But Netflix and Hulu are here and have American and some Japanese content. Internet speed is awesome. Gigabit in most places. But apps and Japanese webforms are fucking terrible. Most things feel like the state of the internet 10 or 15 years ago. One of my banks prevents you from using special characters for your password. Swear to God. A lot of foreigners find it difficult to get a credit card. Especially if you are under 30. Just got to UFJ Mitsubishi. Open an account and you can get a debit card you can use online. All in all, I love it here (aside from work - projects I don't want to work on and a low salary compared to the US). We live 5 minutes from a major train station, which means 5 minutes to dozens of restaurants, a handful of grocery stores, some pharmacies, a few clinics, and a mall.
Q: I heard it was easy to internally transfer to Japan (or anywhere with the pay cut) but extremely hard to transfer back to the US so people might get stuck overseas. Is this true? Oh and supposedly transferring to tends to be a promotion +1 level or potentially 2 whereas from leads to a demotion?
A: I don't think this is true at all. I know a few people who have gone back.
I also did not go up when I came to Japan, and I know people who moved to the US and they did not move down.
Q: Is there any American things you miss while in Japan?
A: American internet. God, Japan is so technologically behind it drives me nuts sometimes. It's like the internet from 10-15 years ago. Apps suck. Japanese websites suck. Internet banking and apps suck. One of my banks *prevents* you from using special characters in your password. Streaming services exist, but they're not anywhere near as ubiquitous as they are in the US. I also miss how cheap Blu-rays are. 35 bucks for Zootopia? Come on.
Internet is shitty, but FAST, though. Gigabit everywhere.
Q: The idea of working abroad is pretty novel. Sounds like you have no regrets about the time you spent there?
A: Yes!! I'd definitely do it again, but I might have waited until I had been mid-level engineer for a year or more. The 2 rounds of paycuts was rough. First was base pay, then a surprise paycut when my US stock grants fully vested. Went from expected value of 30k/year to new grants at expected value of 5k. There is a lot to love about Tokyo. The positives far outweigh the negatives.
Q: Visiting Japan soon, what do you recommend doing at night that is friendly to gaijins in Tokyo/Shibuya? I’ve heard a lot of bars/clubs are no gaijins.
A: I would say that's probably rarer. Shinjuku has a good bar scene where you can do some serious bar hopping. If you are super concerned about getting turned away (a really terrible experience. It's really a shitty feeling), then stick to Roppongi! You may also find some ladies (or men) there that are very into foreigners. Shibuya also has quite a few clubs that are foreigner friendly. There's even a soapland that caters specifically to foreigners, if you want that experience. It's in Kawasaki, I think it's called paradise inn. The most tourist-ey thing is "robot restaurant" (also in Shinjuku). I took my American boss there on a business trip (before I moved here) and he fucking loved it. Sky tree or Tokyo tower are also great at night.
Q: Do you have any take on how big the cryptocurrency craze is or was there compared to United States? Do you own any bitcoin personally?
A: I haven't been into the crypto scene. But I think it's more known here. There's even a few big name stores that accept bitcoin. Don't remember which ones, but they charge like, 20% more if you pay in BC. I don't own any, though.
Q: Is AmaAppGooBookSoft japan mostly for SDEs? Or is there place for us non engineering muggles?
A: Lol, Muggles. Yes!! There are TPMs, SDMs, UX designers, etc. But the more you get into the business side (vendor managers, TAM, site merchandiser, etc), the more you will probably be required to speak and be literate in Japanese.
Q: What made you move to japan for an engineering role? Never heard that before.
A: I've wanted to live in Japan since I was a teenager. Spent a year there in University and 2 exchanges in highschool. Originally I just wanted to live in Japan. So after I graduated, I did a few interviews for English teaching. After one of the interviews, they asked me to prepare a lesson plan. My immediate reaction was, "I don't care about a lesson plan, I just want to live in Japan!" Then I realized I needed to calm the fuck down and get there by doing something that I like, and with a marketable skill. I just didn't know what that skill would be...I landed a shit temp job testing Japanese games. Ended up getting an automatable task and googled how to automate it. Then found what I wanted to do. Got into AmaAppGooBookSoft as a contractor, interviewed and got FTE, then made my way to Japan internally.
Q: I speak 0 japanese will this be a huge issue? Also if I am a mid-level engineer in usa how much equivalent jp total compensation should I be looking for?
A: Not an issue at all for work. Most of the engineers are foreigners. You'll also be able to get by out in the real world. But I'd suggest taking Japanese classes. Company will pay for it here. That would probably equate to maybe 9.5M-110M yen and about 15-20k in RSUs per year? I have zero knowledge of the pay bands here, but I believe 200k is just above middle for US? I make about 9.5, but I have no idea where that is in the pay band. Whatever they offer you, negotiate for more. Always negotiate. It is plenty to live on. You can get a nice place for 150,000/month and a nicer place for 200,000/month. If you want to live further from work or get a smaller place you could get rent as low as 80,000/month, with a 30 minute train ride. Restaurants are very cheap for lunch. Maybe 700-1100 for lunch? Very cheap compared to the states. Company will pay for your daily commute fees. Spending power is low, though. Media is really expensive. Do some searches on Amazon Japan for common stuff to get an idea. FYI, my take home is about 600,000/month to give you an idea about taxes. No need to pay for health insurance plans. The government has you covered. In a month, I spend 144,000 on mortgage, 36,000 on maintenance, about 15,000 on electric + gas (total), about 3,000 on water, about 5,000 on internet, about 80,000 on food for 2 adults, 60,000 for "allowance" for myself and wife, 3,000 on phone (LINE mobile!!! If you go through SoftBank or docomo, or other big players, expect 10,000/month), about 150,000 on miscellaneous stuff, and try to save the rest. Let me know if I'm missing anything expense you are thinking of.
Q: 1. Do you know if unvested stocks earned in the US keep vesting in the US? 2. Understand that salary is lower, but are savings about the same in terms of dollars?
A: 1. GREAT question!! Yes!! Stock that was granted in the states continues to vest at the agreed to schedule. It will still be 100% taxed by the US, but you'll get some of it back. Taxes are such that the fraction of time spent in a country during a vest will determine how much tax goes to that country. Example: you have a 2 year vest and transfer with the last year vesting while you are in Japan. Once it vests, US takes the usual tax rate, but should return about half of that back because half of it was "earned" in Japan. Japan will then apply their tax rate to the other half. 2. No, savings is still less. Because cost of living isn't toooo drastically different, but you make a lot less,you really end up taking a bath on savings. Like, currently for my family of 3, we end up saving about 700 USD a month in cash. In the states, it would be about the same (after 3k rent and a 1k car payment...Tesla, baby), we would end up saving about the same in cash (except we'd also pad our "allowance" by an additional total of 700 bucks). Then you look at stock. 15k gross value in the RSUs in Japan vs 30-50k in the US. Pretty big difference, IMO.
Q: So if you don't speak any Japanese, could you still make it in terms of acquiring a visa? If so, how long would it take to acquire intermediate level proficiency in Japanese you think?
A: Yes, but you'll need a degree from the sciences, probably. Or 10 years experience. Intermediate level is maybe 1200 hours of study?
https://en.wikipedia.org/wiki/Japanese-Language_Proficiency_Test#Estimated_study_time
Q: How do you feel about "Cool Biz" campaign and what is the general public opinion about it?
A: Hard to tell because I work at a US company. I'm shielded from a lot of stuff like that. 28 C is a terribly hot temperature, though, Jesus. I don't really hear it being brought up that much on the morning talk shows, but I don't watch every day. Wish I could be of more help. It's definitely not 28 degrees in my office. We absolutely have AC because we don't want our employees to needlessly suffer in order to scrape a bit off of our electric bill.
Q: Why did you wanna go to Japan in the first place?
A: It started with martial arts when I was in elementary school. Always liked Japanese food, and in high school, anime, judo, and Japanese language. But when I started studying the language, I got super into it. I've been aiming to live here since I was a teenager been 10 times before moving including a few study abroads (1 year in college, 2 weeks, and another 2 weeks in HS). I've always liked the craftsmanship that is in Japan. Watch Jiro dreams of sushi. Perfectly captures the "shokunin" spirit. That guy is like 90 and he still chases perfection. There are LOTS of examples of this, but I love that about Japan. And Tokyo is just super convenient. Trains go everywhere in the country. Don't need a car. I live 5 minutes from Meguro station. So 5 minutes away from 5 grocery stores, 2 or 3 clinics, a few dentists, a mall, transportation of course, and dozens of restaurants. Love the convenience here.
Q: How do the taxes work for US citizen? Do US citizens pay taxes twice for income earned in Japan (once in Japan and again in US)?
A: Taxes are relatively simple. You pay taxes to Japan, you report income to the US. I think once your income exceeds a certain amount (100 some odd thousand), you will be taxed on the difference of that minus taxes to Japan. So, like if the amount was 100k and you made 110k, they'd tax you if the taxes you paid to Japan on that 10k were less than the US would have taxed. But it's the diff. So if the US would have taken 3k of that 10k, but Japan took 2k, you'd owe the US 1k. So it's not that bad. Stock is way more complicated because it depends on where you were for the duration of the vest and where it was granted. For example, I had a 4 year vest and moved to Japan in year 3. The third year, I had "earned" that 2 years in the US and 1 in Japan. So the US took more taxes. I mean, the second it vests, the US takes their full tax rate, but they'll give a bunch back at tax season. And Japan will take some of that. You usually come out on top somehow. Like, last year, I had 60k or something vesting. I got back 12k from the US and had to pay Japan 5k. The US had initially taken about 16k of that 60k. The percentage of tax paid depends on how long you were in a given country during the vest. Negotiate a tax accountant into your contract. My employer uses another company and I don't have calculate all this shit. I only know it because I want to know how it works, so I ask my accountants a bunch of annoying questions. Once you start getting grants in Japan, no money is taken at vest, and you pay Japan for taxes on the vest value in January.
Q: My wife and Iove Japan very much, we’ve always talked about “living there for some years”. However we have 2 kids (less than 3 years) and I’m concerned it would be hard for them. Since you mentioned that your kid, do you think moving there is a bad idea ?
A: It depends. If you are already doing parenting on hard mode instead of support network mode, I think it won't be much different. I know someone who went from Tokyo back to the US, but moved back for the same reason: lack of support. I think it would be harder on you than them. Just make sure you bring English books and media. Netflix, Hulu, and Amazon have a decent amount of kids programming here that is in English as well.
submitted by rice_otaku to AskEngineers [link] [comments]

Understanding BIP149, redeployment of Segwit with BIP8

I recently published BIP149 and would like to take a few moments to explain the details of this proposal.
BIP149 is a completely new deployment of segwit, which I propose if the current BIP9/BIP141/143/147 segwit deployment fails to lockin/activate by November 15th.
BIP149 cannot be run on mainnet now, and there is code in the reference implementation to prevent it from running. It is incompatible with the current segwit deployment on purpose to remove unnecessary complications.
Essentially, the idea is, if the current segwit deployment fails to activate by Nov 15th, we can release new software that has BIP149. This uses BIP8 to activate segwit by July 2018. Miners will still be able to trigger activation by 95% threshold signalling as normal. In the 8 months from November to July 2018, nodes will be able to upgrade to BIP149. If segwit is not MASF activated by July 2018, there will be enough of the economy running BIP149 that nodes can begin enforcement. What will actually happen is on the first retarget after July 4th, the BIP8 state machine will switch to LOCKED_IN status for two weeks, and then on the following retarget, ACTIVATION will occur. The rationale here is in 5 months we achieved 70% saturation of witness capable nodes, so by the time segwit timesout with all the urgency and demand people feel for segwit, we can expect them to upgrade at least as fast, if not much faster. I have spoken with a number of developers who think this is a reasonable assumption.
Background, I had hoped to be able to release a BIP that can be deployed concurrently now with segwit, but, there are various technical complications in implementing it cleanly and making it easily reviewable. I had various feedback from others in previous iterations and in order to get the widest support from developers especially concerned with predictable results and thus safety, I came to the conclusion that the BIP will get the widest support by not attempting any shortcuts and by removing all complexity. I know many people want segwit now, but, I think we should just bite the bullet and do it the BIP149 way. I already made a shortcut BIP with BIP148. I will discuss the pros and cons at the end.
Back to BIP149, this is a completely new redeployment with a new service bit NODE_UAWITNESS and new compact block protocol version - doing this avoids many gotchyas which I will explain below:
Currently, segwit capable nodes advertize the NODE_WITNESS service bit and preferentially peer with other NODE_WITNESS nodes. Post activation, segwit-active nodes will then know who they should relay witness blocks to and who they should relay old style stripped blocks to. The assumption is if I am a NODE_WITNESS node and segwit has activated, then other NODE_WITNESS nodes will also be segwit activated. We cannot reuse NODE_WITNESS because when BIP149 activates, they would believe non-BIP149 NODE_WITNESS nodes were also active. Using a new service bit, and effectively starting a new deployment as if the previous deployment doesnt exist, is the most predictable and trouble free way to go about it.
Additionally, BIP149 is compatible with existing mining software by reusing the "segwit" name and deployment chainparams (it's not possible to have two deployments with the same name, one expired and one pending/active, due to how versionbits is implemented). In short, if the current segwit deployment fails to activate, we can reuse parts to maintain compatibility, while changing the bare minimum to remove any conflicts with old nodes. It's clean, predictable and easy to review.
BIP148 IS NOT BIP149
Remember BIP148 is exceptional, it's NOT what a usual UASF BIP should look like. A normal UASF if effectively activation on a predetermined date in the future (a flag day). BIP8 combines BIP9 miner signalling with a flagday if MASF does not occur.
How is BIP149 different to BIP148? So BIP148 is a UASF which can be used in two ways. (a) The economy can run BIP148 and basically force miners to signal for segwit, thus activating the current segwit deployment. Or, (b) a majority of miners, 60% or so, could run it and censor other miners who do not signal segwit, thus causing the current segwit to deploy. In method (a) a chain split will occur if any miners do not upgrade, and given the fact there are always absentee miners and pool operators, this is quite likely. It's the economy vs hash power saying "if you dont signal, your blocks will not be worth anything because we will reject them". In the case of (b) you have a majority of hashpower, who could use their majority to orphan any non signalling miners. This isn't great but it's less disruptive than (a) because there is a majority hashpower definitely opted in.
BIP149 on the other had does not guarantee a chain split since that could only happen if a miner deliberately takes action to manually create a segwit invalid block, which would be rejected by the economy. The incentives are different also, with BIP148 a chainsplit comes for free, regardless of if it lasts long or not. In BIP149, a miner would have to specifically take action to split and waste their money, which they could do at any time anyway. BIP149 is uncontroversial in the sense it is just a redeployment with guaranteed activation at the end, for a soft fork we are fairly sure people want and will upgrade to. The evidence is everywhere. UASFs deployed over a long time and a decent flagday are perfectly safe - all soft forks are enforced by nodes, even if activation is triggered by hashpower.
Anyway, we've got 8 months from now to review and think about BIP149 - it cannot be deployed until November. If you would like to show support for BIP149, feel free to add the following to your bitcoin.conf
uacomment=UASF-SegWit-BIP149 
Note you can have multiple uacomments like:
uacomment=BIP8 uacomment=UASF-SegWit-BIP149 uacomment=UASF-SegWit-BIP148 
You can find the bitcoin.conf file here
You can also just add this to a shortcut - create a shortcut (or edit the existing one you use) and add this to the end: -uacomment=UASF-SegWit-BIP149
e.g. (just add the property to the end like this):
"C:\Program Files\Bitcoin\bitcoin-qt.exe" -uacomment=UASF-SegWit-BIP149 if you are using Windows.
You can also just add uacomments as multiple command line/shortcut arguments like
-uacomment=BIP8 -uacomment=UASF-SegWit-BIP149 -uacomment=UASF-SegWit-BIP148 
Then you can check here to see how your node is signalling at https://bitnodes.21.co/ will show something like: xxx.xxx.xxx.xxx:8333 /Satoshi:0.14.1(UASF-SegWit-BIP149)/
If your node has synced and doesn't show using the link above make sure to enable forwarding of port 8333 so you accept incoming connections (if you want to that is) - in your client: go into settings / network and tick enable incoming connections and use upnp. You might have to add it to your firewall if this doesn't work. [taken from this user comment].
Read the BIP https://github.com/bitcoin/bips/blob/mastebip-0149.mediawiki
See the implementation https://github.com/bitcoin/bitcoin/compare/master...shaolinfry:uasegwit-flagday
submitted by shaolinfry to Bitcoin [link] [comments]

Subreddit Stats: GoldandBlack top posts from 2016-08-01 to 2019-06-12 11:22 PDT

Period: 1044.74 days
Submissions Comments
Total 1000 55684
Rate (per day) 0.96 53.28
Unique Redditors 295 6531
Combined Score 220956 394481

Top Submitters' Top Submissions

  1. 29422 points, 125 submissions: MasterTeacher123
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  2. 26598 points, 114 submissions: Anen-o-me
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  3. 17675 points, 81 submissions: Anenome5
    1. The Most Perfect Libertarian Meme I Ever Did See... "Unchecked People" (843 points, 45 comments)
    2. Spread this far and wide! (654 points, 146 comments)
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  4. 12663 points, 67 submissions: JobDestroyer
    1. After Winning a $15 Minimum Wage, Fast Food Workers Now Battle Unfair Firings (590 points, 296 comments)
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  5. 4507 points, 26 submissions: properal
    1. Record Number of Americans Call Government Our Biggest Problem (486 points, 35 comments)
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  6. 4310 points, 16 submissions: MrZer
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  7. 3703 points, 21 submissions: LibertyAboveALL
    1. Illinois may tax private retirement funds to pay public worker pensions (396 points, 103 comments)
    2. Voters in Switzerland approve stronger gun control laws by nearly two-thirds despite resistance (304 points, 155 comments)
    3. Mom Arrested For Leaving 8- and 9-Year-Olds Home Alone for Less Than an Hour (264 points, 69 comments)
    4. Bartender charged for serving man who allegedly went on to kill 8 people (259 points, 148 comments)
    5. The Insane Battle To Sabotage a New Apartment Building Explains San Francisco's Housing Crisis (193 points, 78 comments)
    6. U.S. Student Loan Debt Sets Record, Doubling Since Recession (175 points, 72 comments)
    7. Chinese teens are rejecting Communist Party propaganda and the government is freaking out (167 points, 29 comments)
    8. Julian Assange offers job to fired Google employee who wrote "anti-diversity" memo - "Censorship is for losers." (161 points, 50 comments)
    9. Ben Shapiro's view on Assange arrest is getting him roasted by many of his fans in the YT comment section. Hilarious! (159 points, 124 comments)
    10. Africans are being sold as slaves in Libya. Thanks, Hillary Clinton. (156 points, 22 comments)
  8. 2862 points, 10 submissions: vfhuuuuu
    1. "The welfare state is the oldest con game in the world. First you take people's money away quietly and then you give some of it back to them flamboyantly" - Thomas Sowell (613 points, 51 comments)
    2. Only about 21% of American millionaires have received any inheritance at all, with only 3% receiving over $1,000,000, study shows. (558 points, 99 comments)
    3. I basically just sat through 6 hours of statist propaganda (304 points, 113 comments)
    4. TIL that you're not required to wear a seat belt in New Hampshire if you're over 18 (304 points, 81 comments)
    5. Latinos are twice as likely to vote Libertarian than the general population (303 points, 130 comments)
    6. A Christmas Carol: A play about a greedy man becoming generous through social interaction, not state-sanctioned violence. (238 points, 30 comments)
    7. Last month, Washington DC raised taxes on Uber and Lyft to pay for it's shitty Metro system. To give you an idea of what this money will be used for; the city plans on spending $320 Million dollars to build ONE station. (162 points, 50 comments)
    8. In Bermuda, where Black and White people make roughly equal amounts of money, the IQ gap between races does not exist. (151 points, 193 comments)
    9. Just a quick reminder that the Republican party is just as anti-liberty as the Democrats, and "Libertarians" that support it should be ignored and downvoted. (117 points, 106 comments)
    10. Being a Gay Communist is as ironic as being a Jewish Neo-Nazi. (112 points, 65 comments)
  9. 2768 points, 7 submissions: LosFajitas
    1. When a capitalist tries to sell his product or service for the highest price they can get, they are seen as greedy. When a worker tries to sell their labor for the highest price they can get, they are seen as noble and deserving. (488 points, 138 comments)
    2. Liberals: We need to end the two party system! *Howard Schultz announces possible presidential run as an independent * Liberals: WOAAAHH THERE BUDDY SLOW DOWN! (444 points, 54 comments)
    3. I'm looking forward to the Democratic Primary because it's going to be one giant competition on who can give people the most free things. (408 points, 132 comments)
    4. It's no longer about revenue, taxes are now punitive measures. (400 points, 134 comments)
    5. "Judges Plead Guilty in Scheme to Jail Youths for Profit" oh but that can never happen in gov courts (358 points, 67 comments)
    6. Andrew Yang is one of the most arrogant people I have ever seen speak (355 points, 243 comments)
    7. Anyone else hate when people refer to a presidential candidate as "the person who will save this country" (315 points, 34 comments)
  10. 2264 points, 12 submissions: ayanamirs
    1. People Are Hiring Private Police Squads in Detroit (HBO) (375 points, 64 comments)
    2. Paul Krugman (Nobel 2008) (321 points, 52 comments)
    3. If you want #bitcoin to rise, teach Austrian Economics to people. (212 points, 167 comments)
    4. "A lot of people disagree with me, but I think people should be happy to pay taxes" < Obama to brazilians (210 points, 62 comments)
    5. Dutch national newspaper urges people to sell all their Bitcoins as it undermines the government, could destabilise the economy and reduces the power of central banks. Sounds like a reason to buy to me (192 points, 32 comments)
    6. US socialists can't deal against brazilians (167 points, 39 comments)
    7. Could someone please explain this? (161 points, 23 comments)
    8. Guns Law in Brazil is very restricted. 63880 deaths by year. (154 points, 27 comments)
    9. Look this answer (123 points, 134 comments)
    10. Congratulations To Bolivarian Socialism - Venezuela Now Has To Import Oil From The US (120 points, 18 comments)

Top Commenters

  1. JobDestroyer (7914 points, 897 comments)
  2. natermer (4011 points, 342 comments)
  3. Anen-o-me (3256 points, 535 comments)
  4. MasterTeacher123 (3201 points, 176 comments)
  5. Lemmiwinks99 (3185 points, 439 comments)
  6. E7ernal (2549 points, 472 comments)
  7. Anenome5 (2463 points, 430 comments)
  8. nosmokingbandit (2320 points, 174 comments)
  9. Perleflamme (2226 points, 634 comments)
  10. phaethon0 (2216 points, 144 comments)

Top Submissions

  1. Does that sound like a work of a journalist? by deleted (1064 points, 115 comments)
  2. Laws for thee but not for me! Cop destroys civilian property and flips off citizen, citizen flips him back and gets mobbed by cops by Anen-o-me (936 points, 308 comments)
  3. The Most Perfect Libertarian Meme I Ever Did See... "Unchecked People" by Anenome5 (843 points, 45 comments)
  4. Capitalism's Evil Quest... by Anen-o-me (827 points, 77 comments)
  5. Amazing way to not pay Taxes by ArbitraryOrder (794 points, 71 comments)
  6. Free Assange by Anen-o-me (714 points, 77 comments)
  7. Man who lives in massive palace surrounded by priceless art and catered to by staff of thousands asks if people really need so many material objects by TheJucheisLoose (690 points, 75 comments)
  8. His name was Gary Webb. by TrainingWeekend (675 points, 66 comments)
  9. Presented without comment by newimprovement (658 points, 152 comments)
  10. Spread this far and wide! by Anenome5 (654 points, 146 comments)

Top Comments

  1. 284 points: BakeshopNewb's comment in Officers Had No Duty to Protect Students in Parkland Massacre, Judge Rules
  2. 272 points: locolarue's comment in I was optimistic about the French Protests... Until I read their demands
  3. 268 points: Glothr's comment in Spread this far and wide!
  4. 247 points: hairguythrowaway4171's comment in Lawmakers in Hawaii Propose Repealing Second Amendment
  5. 245 points: kurwacudownie's comment in Cop slaps phone out of teens hand and flips off teen.
  6. 240 points: properal's comment in Were doomed: "Alexandria Ocasio-Cortez's 70% tax on the super-rich is more popular than Trump's tax cuts, new poll shows" --- democracy sucks.
  7. 239 points: MizchiefKilz's comment in Americans Continue to Flee to Low-Tax States
  8. 235 points: TheKleen's comment in Don’t Lower the Voting Age, Raise It
  9. 231 points: Boltrag's comment in After Winning a $15 Minimum Wage, Fast Food Workers Now Battle Unfair Firings
  10. 229 points: MarshmellowPotatoPie's comment in Does that sound like a work of a journalist?
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80 Trillion Dollar Bitcoin Exit Plan - YouTube

วันนี้มาดูหลักการของสกุลเงิน Digital ที่ไม่สามารถจับต้องได้ แต่มีมูลค่า ... Onecoin promised the world, but only proved to be a trail of destruction. --- About ColdFusion --- ColdFusion is an Australian based online media company ind... Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin mining is the process of updating the ledger of Bitcoin transactions known as th... Start trading Bitcoin and cryptocurrency here: http://bit.ly/2Vptr2X Bitcoin is the first decentralized digital currency. All Bitcoin transactions are docume... WATCH MORE https://youtube.com/playlist?list=PLhXKD5pCp-3CAcKr7OC_Jc17qyRao3Sc6&disable_polymer=true WATCH MINDIE https://youtube.com/playlist?list=PLhXK...

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