Double-spend Attack Models with Time Advantange for Bitcoin

Gridcoin 5.0.0.0-Mandatory "Fern" Release

https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/5.0.0.0
Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that.
Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap.
We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout.
Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.

Highlights

Protocol

Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now.
Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date.
The transition height is also when the team requirement will be relaxed for the network.

GUI

Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.

Blockchain

The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use.
There are so many goodies here it is hard to summarize them all.
I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures.
The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!

Summary Changelog

Accrual

Changed

Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.

Removed

Beacons

Added

Changed

Removed

Unaltered

As a reminder:

Superblocks

Added

Changed

Removed

Voting

Added

Changed

Removed

Detailed Changelog

[5.0.0.0] 2020-09-03, mandatory, "Fern"

Added

Changed

Removed

Fixed

submitted by jamescowens to gridcoin [link] [comments]

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

Syscoin Platform’s Great Reddit Scaling Bake-off Proposal

https://preview.redd.it/rqt2dldyg8e51.jpg?width=1044&format=pjpg&auto=webp&s=777ae9d4fbbb54c3540682b72700fc4ba3de0a44
We are excited to participate and present Syscoin Platform's ideal characteristics and capabilities towards a well-rounded Reddit Community Points solution!
Our scaling solution for Reddit Community Points involves 2-way peg interoperability with Ethereum. This will provide a scalable token layer built specifically for speed and high volumes of simple value transfers at a very low cost, while providing sovereign ownership and onchain finality.
Token transfers scale by taking advantage of a globally sorting mempool that provides for probabilistically secure assumptions of “as good as settled”. The opportunity here for token receivers is to have an app-layer interactivity on the speed/security tradeoff (99.9999% assurance within 10 seconds). We call this Z-DAG, and it achieves high-throughput across a mesh network topology presently composed of about 2,000 geographically dispersed full-nodes. Similar to Bitcoin, however, these nodes are incentivized to run full-nodes for the benefit of network security, through a bonded validator scheme. These nodes do not participate in the consensus of transactions or block validation any differently than other nodes and therefore do not degrade the security model of Bitcoin’s validate first then trust, across every node. Each token transfer settles on-chain. The protocol follows Bitcoin core policies so it has adequate code coverage and protocol hardening to be qualified as production quality software. It shares a significant portion of Bitcoin’s own hashpower through merged-mining.
This platform as a whole can serve token microtransactions, larger settlements, and store-of-value in an ideal fashion, providing probabilistic scalability whilst remaining decentralized according to Bitcoin design. It is accessible to ERC-20 via a permissionless and trust-minimized bridge that works in both directions. The bridge and token platform are currently available on the Syscoin mainnet. This has been gaining recent attention for use by loyalty point programs and stablecoins such as Binance USD.

Solutions

Syscoin Foundation identified a few paths for Reddit to leverage this infrastructure, each with trade-offs. The first provides the most cost-savings and scaling benefits at some sacrifice of token autonomy. The second offers more preservation of autonomy with a more narrow scope of cost savings than the first option, but savings even so. The third introduces more complexity than the previous two yet provides the most overall benefits. We consider the third as most viable as it enables Reddit to benefit even while retaining existing smart contract functionality. We will focus on the third option, and include the first two for good measure.
  1. Distribution, burns and user-to-user transfers of Reddit Points are entirely carried out on the Syscoin network. This full-on approach to utilizing the Syscoin network provides the most scalability and transaction cost benefits of these scenarios. The tradeoff here is distribution and subscription handling likely migrating away from smart contracts into the application layer.
  2. The Reddit Community Points ecosystem can continue to use existing smart contracts as they are used today on the Ethereum mainchain. Users migrate a portion of their tokens to Syscoin, the scaling network, to gain much lower fees, scalability, and a proven base layer, without sacrificing sovereign ownership. They would use Syscoin for user-to-user transfers. Tips redeemable in ten seconds or less, a high-throughput relay network, and onchain settlement at a block target of 60 seconds.
  3. Integration between Matic Network and Syscoin Platform - similar to Syscoin’s current integration with Ethereum - will provide Reddit Community Points with EVM scalability (including the Memberships ERC777 operator) on the Matic side, and performant simple value transfers, robust decentralized security, and sovereign store-of-value on the Syscoin side. It’s “the best of both worlds”. The trade-off is more complex interoperability.

Syscoin + Matic Integration

Matic and Blockchain Foundry Inc, the public company formed by the founders of Syscoin, recently entered a partnership for joint research and business development initiatives. This is ideal for all parties as Matic Network and Syscoin Platform provide complementary utility. Syscoin offers characteristics for sovereign ownership and security based on Bitcoin’s time-tested model, and shares a significant portion of Bitcoin’s own hashpower. Syscoin’s focus is on secure and scalable simple value transfers, trust-minimized interoperability, and opt-in regulatory compliance for tokenized assets rather than scalability for smart contract execution. On the other hand, Matic Network can provide scalable EVM for smart contract execution. Reddit Community Points can benefit from both.
Syscoin + Matic integration is actively being explored by both teams, as it is helpful to Reddit, Ethereum, and the industry as a whole.

Proving Performance & Cost Savings

Our POC focuses on 100,000 on-chain settlements of token transfers on the Syscoin Core blockchain. Transfers and burns perform equally with Syscoin. For POCs related to smart contracts (subscriptions, etc), refer to the Matic Network proposal.
On-chain settlement of 100k transactions was accomplished within roughly twelve minutes, well-exceeding Reddit’s expectation of five days. This was performed using six full-nodes operating on compute-optimized AWS c4.2xlarge instances which were geographically distributed (Virginia, London, Sao Paulo Brazil, Oregon, Singapore, Germany). A higher quantity of settlements could be reached within the same time-frame with more broadcasting nodes involved, or using hosts with more resources for faster execution of the process.
Addresses used: 100,014
The demonstration was executed using this tool. The results can be seen in the following blocks:
612722: https://sys1.bcfn.ca/block/6d47796d043bb4c508d29123e6ae81b051f5e0aaef849f253c8f3a6942a022ce
612723: https://sys1.bcfn.ca/block/8e2077f743461b90f80b4bef502f564933a8e04de97972901f3d65cfadcf1faf
612724: https://sys1.bcfn.ca/block/205436d25b1b499fce44c29567c5c807beaca915b83cc9f3c35b0d76dbb11f6e
612725: https://sys1.bcfn.ca/block/776d1b1a0f90f655a6bbdf559ff5072459cbdc5682d7615ff4b78c00babdc237
612726: https://sys1.bcfn.ca/block/de4df0994253742a1ac8ac9eec8d2a8c8b0a6d72c53d6f3caa29bb6c171b0a6b
612727: https://sys1.bcfn.ca/block/e5e167c52a9decb313fbaadf49a5e34cb490f8084f642a850385476d4ef10d70
612728: https://sys1.bcfn.ca/block/ab64d989edc71890e7b5b8491c20e9a27520dc45a5f7c776d3dae79057f59fe7
612729: https://sys1.bcfn.ca/block/5e8b7ecd0e36f99d07e4ea6e135fc952bf7ec30164ab6f4d1e98b0f2d405df6d
612730: https://sys1.bcfn.ca/block/d395df3d31dde60bbb0bece6bd5b358297da878f0beb96be389e5f0e043580a3
It is important to note that this POC is not focused on Z-DAG. The performance of Z-DAG has been benchmarked within realistic network conditions: Whiteblock’s audit is publicly available. Network latency tests showed an average TPS around 15k with burst capacity up to 61k. Zero-latency control group exhibited ~150k TPS. Mainnet testing of the Z-DAG network is achievable and will require further coordination and additional resources.
Even further optimizations are expected in the upcoming Syscoin Core release which will implement a UTXO model for our token layer bringing further efficiency as well as open the door to additional scaling technology currently under research by our team and academic partners. At present our token layer is account-based, similar to Ethereum. Opt-in compliance structures will also be introduced soon which will offer some positive performance characteristics as well. It makes the most sense to implement these optimizations before performing another benchmark for Z-DAG, especially on the mainnet considering the resources required to stress-test this network.

Cost Savings

Total cost for these 100k transactions: $0.63 USD
See the live fee comparison for savings estimation between transactions on Ethereum and Syscoin. Below is a snapshot at time of writing:
ETH price: $318.55 ETH gas price: 55.00 Gwei ($0.37)
Syscoin price: $0.11
Snapshot of live fee comparison chart
Z-DAG provides a more efficient fee-market. A typical Z-DAG transaction costs 0.0000582 SYS. Tokens can be safely redeemed/re-spent within seconds or allowed to settle on-chain beforehand. The costs should remain about this low for microtransactions.
Syscoin will achieve further reduction of fees and even greater scalability with offchain payment channels for assets, with Z-DAG as a resilience fallback. New payment channel technology is one of the topics under research by the Syscoin development team with our academic partners at TU Delft. In line with the calculation in the Lightning Networks white paper, payment channels using assets with Syscoin Core will bring theoretical capacity for each person on Earth (7.8 billion) to have five on-chain transactions per year, per person, without requiring anyone to enter a fee market (aka “wait for a block”). This exceeds the minimum LN expectation of two transactions per person, per year; one to exist on-chain and one to settle aggregated value.

Tools, Infrastructure & Documentation

Syscoin Bridge

Mainnet Demonstration of Syscoin Bridge with the Basic Attention Token ERC-20
A two-way blockchain interoperability system that uses Simple Payment Verification to enable:
  • Any Standard ERC-20 token to be moved from Ethereum to the Syscoin blockchain as a Syscoin Platform Token (SPT), and back to Ethereum
  • Any SPT to be moved from Syscoin to the Ethereum blockchain as an ERC-20 token, and back to Syscoin

Benefits

  • Permissionless
  • No counterparties involved
  • No trading mechanisms involved
  • No third-party liquidity providers required
  • Cross-chain Fractional Supply - 2-way peg - Token supply maintained globally
  • ERC-20s gain vastly improved transactionality with the Syscoin Token Platform, along with the security of bitcoin-core-compliant PoW.
  • SPTs gain access to all the tooling, applications and capabilities of Ethereum for ERC-20, including smart contracts.
https://preview.redd.it/l8t2m8ldh8e51.png?width=1180&format=png&auto=webp&s=b0a955a0181746dc79aff718bd0bf607d3c3aa23
https://preview.redd.it/26htnxzfh8e51.png?width=1180&format=png&auto=webp&s=d0383d3c2ee836c9f60b57eca35542e9545f741d

Source code

https://github.com/syscoin/?q=sysethereum
Main Subprojects

API

Tools to simplify using Syscoin Bridge as a service with dapps and wallets will be released some time after implementation of Syscoin Core 4.2. These will be based upon the same processes which are automated in the current live Sysethereum Dapp that is functioning with the Syscoin mainnet.

Documentation

Syscoin Bridge & How it Works (description and process flow)
Superblock Validation Battles
HOWTO: Provision the Bridge for your ERC-20
HOWTO: Setup an Agent
Developer & User Diligence

Trade-off

The Syscoin Ethereum Bridge is secured by Agent nodes participating in a decentralized and incentivized model that involves roles of Superblock challengers and submitters. This model is open to participation. The benefits here are trust-minimization, permissionless-ness, and potentially less legal/regulatory red-tape than interop mechanisms that involve liquidity providers and/or trading mechanisms.
The trade-off is that due to the decentralized nature there are cross-chain settlement times of one hour to cross from Ethereum to Syscoin, and three hours to cross from Syscoin to Ethereum. We are exploring ways to reduce this time while maintaining decentralization via zkp. Even so, an “instant bridge” experience could be provided by means of a third-party liquidity mechanism. That option exists but is not required for bridge functionality today. Typically bridges are used with batch value, not with high frequencies of smaller values, and generally it is advantageous to keep some value on both chains for maximum availability of utility. Even so, the cross-chain settlement time is good to mention here.

Cost

Ethereum -> Syscoin: Matic or Ethereum transaction fee for bridge contract interaction, negligible Syscoin transaction fee for minting tokens
Syscoin -> Ethereum: Negligible Syscoin transaction fee for burning tokens, 0.01% transaction fee paid to Bridge Agent in the form of the ERC-20, Matic or Ethereum transaction fee for contract interaction.

Z-DAG

Zero-Confirmation Directed Acyclic Graph is an instant settlement protocol that is used as a complementary system to proof-of-work (PoW) in the confirmation of Syscoin service transactions. In essence, a Z-DAG is simply a directed acyclic graph (DAG) where validating nodes verify the sequential ordering of transactions that are received in their memory pools. Z-DAG is used by the validating nodes across the network to ensure that there is absolute consensus on the ordering of transactions and no balances are overflowed (no double-spends).

Benefits

  • Unique fee-market that is more efficient for microtransaction redemption and settlement
  • Uses decentralized means to enable tokens with value transfer scalability that is comparable or exceeds that of credit card networks
  • Provides high throughput and secure fulfillment even if blocks are full
  • Probabilistic and interactive
  • 99.9999% security assurance within 10 seconds
  • Can serve payment channels as a resilience fallback that is faster and lower-cost than falling-back directly to a blockchain
  • Each Z-DAG transaction also settles onchain through Syscoin Core at 60-second block target using SHA-256 Proof of Work consensus
https://preview.redd.it/pgbx84jih8e51.png?width=1614&format=png&auto=webp&s=5f631d42a33dc698365eb8dd184b6d442def6640

Source code

https://github.com/syscoin/syscoin

API

Syscoin-js provides tooling for all Syscoin Core RPCs including interactivity with Z-DAG.

Documentation

Z-DAG White Paper
Useful read: An in-depth Z-DAG discussion between Syscoin Core developer Jag Sidhu and Brave Software Research Engineer Gonçalo Pestana

Trade-off

Z-DAG enables the ideal speed/security tradeoff to be determined per use-case in the application layer. It minimizes the sacrifice required to accept and redeem fast transfers/payments while providing more-than-ample security for microtransactions. This is supported on the premise that a Reddit user receiving points does need security yet generally doesn’t want nor need to wait for the same level of security as a nation-state settling an international trade debt. In any case, each Z-DAG transaction settles onchain at a block target of 60 seconds.

Syscoin Specs

Syscoin 3.0 White Paper
(4.0 white paper is pending. For improved scalability and less blockchain bloat, some features of v3 no longer exist in current v4: Specifically Marketplace Offers, Aliases, Escrow, Certificates, Pruning, Encrypted Messaging)
  • 16MB block bandwidth per minute assuming segwit witness carrying transactions, and transactions ~200 bytes on average
  • SHA256 merge mined with Bitcoin
  • UTXO asset layer, with base Syscoin layer sharing identical security policies as Bitcoin Core
  • Z-DAG on asset layer, bridge to Ethereum on asset layer
  • On-chain scaling with prospect of enabling enterprise grade reliable trustless payment processing with on/offchain hybrid solution
  • Focus only on Simple Value Transfers. MVP of blockchain consensus footprint is balances and ownership of them. Everything else can reduce data availability in exchange for scale (Ethereum 2.0 model). We leave that to other designs, we focus on transfers.
  • Future integrations of MAST/Taproot to get more complex value transfers without trading off trustlessness or decentralization.
  • Zero-knowledge Proofs are a cryptographic new frontier. We are dabbling here to generalize the concept of bridging and also verify the state of a chain efficiently. We also apply it in our Digital Identity projects at Blockchain Foundry (a publicly traded company which develops Syscoin softwares for clients). We are also looking to integrate privacy preserving payment channels for off-chain payments through zkSNARK hub & spoke design which does not suffer from the HTLC attack vectors evident on LN. Much of the issues plaguing Lightning Network can be resolved using a zkSNARK design whilst also providing the ability to do a multi-asset payment channel system. Currently we found a showstopper attack (American Call Option) on LN if we were to use multiple-assets. This would not exist in a system such as this.

Wallets

Web3 and mobile wallets are under active development by Blockchain Foundry Inc as WebAssembly applications and expected for release not long after mainnet deployment of Syscoin Core 4.2. Both of these will be multi-coin wallets that support Syscoin, SPTs, Ethereum, and ERC-20 tokens. The Web3 wallet will provide functionality similar to Metamask.
Syscoin Platform and tokens are already integrated with Blockbook. Custom hardware wallet support currently exists via ElectrumSys. First-class HW wallet integration through apps such as Ledger Live will exist after 4.2.
Current supported wallets
Syscoin Spark Desktop
Syscoin-Qt

Explorers

Mainnet: https://sys1.bcfn.ca (Blockbook)
Testnet: https://explorer-testnet.blockchainfoundry.co

Thank you for close consideration of our proposal. We look forward to feedback, and to working with the Reddit community to implement an ideal solution using Syscoin Platform!

submitted by sidhujag to ethereum [link] [comments]

The White Dragon : A Canadian Dragon Portfolio

Alright guys, Ive been working on this for a while and a post on here by a guy describing his portfolio here was the final kick in the ass for me to put this together. I started writing this to summarize what Im doing for my friends who are beginners, and also for me to make some sense of it for myself
Hopefully parts of it are useful to you, and also ideally you guys can point out errors or have a suggestion or two. I'm posting this here as opposed to investing or canadianinvestor (blech) because they're just gonna tell me to buy an index fund.
This first section is a preamble describing the Canadian tax situation and why Im doing things the way that I am. Feel free to skip it if you dont care about that. Also, there might be mistake regarding what the laws are here so dont take my word for it and verify it for yourself please.
So here in Canada we have two types of registered accounts (theres actually more but whatver). There is the TFSA "Tax Free Savings Account", and RRSP "Registered Retirement Savings Account"
For the sake of simplicity, from the time you turn 18 you are allowed to deposit 5k (it changes year to year based on inflation etc)in each of them. That "room" accumulates retroactively, so if you haventdone anything and are starting today and you are 30 you have around 60k you can put in each of them. The prevailing wisdom is that you should max out the TFSA first and you'll see why in a minute.

TFSA is post tax deposits, with no capital gains or other taxes applied to selling your securities, dividends or anything else. You can withdraw your gains at any time, and the amount that you withdraw is added to the "room" you have for the next year. So lets say I maxed out my TFSA contributions and I take out 20k today, on January of next year I can put back in 20k plus the 5 or whatever they allow for that year. You can see how powerful this is. Theres a few limitations on what is eligable to be held in the TFSA such as bitcoin/bitcoin ETFs, overseas stocks that arent listed on NYSE, TSX, london and a few others. You can Buy to Open and Sell to Close call and put options as well as write Covered Calls.

The RRSP is pre-tax deposits and is a tax deferred scheme. You deposit to lower your income tax burden (and hopefully drop below a bracket) but once you retire you will be taxed on anything you pull out. Withdrawing early has huge penalties and isnt recommended. You are however allowed to borrow against it for a down payment as a first time home buyer. The strategy with these is that a youngperson entering the workforce is likely to be in a fairly low tax bracket and (hopefully) earns more money as they get older and more skilled so the RRSP has more value the greater your pre-taxincome is. You can also do this Self Directed. Its not relevant to this strategy but I included it for the sake of context.
Non registered accounts ( or any other situation, such as selling commercial real estate etc) is subject to a capital gains tax. In so far as I understand it, you add all your gains and losses up at the end of the year. If its a positive number, you cut that number IN HALF and add it to your regular pre-tax income. So if I made 60k from the dayjob and 20k on my margin account that adds up to 70k that I get taxed on. if its a loss, you carry that forward into the next year. Theres no distinction between long term and short term. Also physical PMs are treated differently and I'll fill that part in later once I have the details down.
The reason why all that babble is important is that my broker Questrade, which isnt as good as IB (the only real other option up here as far as Im aware) has one amazing feature that no other broker has: "Margin Power"
If you have a TFSA and a Margin account with them, you can link them together and have your securities in the TFSA collateralise your Margin account. Essentially, when it comes to the Maintenance Excess of the Margin Account QT doesnt care if its in the TFSA *or* the Margin!
You can see how powerful this is.
------------------------------------------------------------------------------------------------------------------------------------------------
So as you can tell by the title, a lot of this is heavily inspired by Chris Cole's paper "The Allegory of the Hawk and the Serpent". You can read it here: https://www.artemiscm.com/welcome#research
Between it, his interviews and my mediocre options skills at the time my mind was blown. Unfortunately I didnt know how to do the Long Volatility part until after the crash in March but I've since then had nothing but time to scour the internet and learn as much as I could.
The way I interpret this isnt necessarily "what you should have right now", but what abstracted model they were able to backtest that gave them the best performance over the 90 years. Also, a lot of my portfolio I already had before I started trying to build this.
As such my allocations dont match the proportions he gave. Not saying my allocations are better, just showing where they are at this time.
I'm going to describe how I do Long Volatility at the end rather than the beginning since the way *I* do it wont make sense until you see the rest of the portflio.

Physical PMs 22%
I'm not sure wether he intended this to be straight up physical gold or include miners and royalty streaming companies so I will just keep this as physical.
I consider Silver to be a non-expiring call option on gold, so that can live here too. I am actually *very* overweight silver and my strategy is to convert a large portion of it to gold (mostly my bars) to gold as the ratio tightens up.
If youre into crypto, you can arguably say that has a place in this section.
If an ETF makes sense for part of your portfolio, I suggest the Sprott ones such as PHYS. Sprott is an honest business and they actually have the metal they say they have. If you have enough, you can redeem your shares from the Royal Canadian Mint. The only downside is that they dont have an options chain, so you cant sell covered calls etc. Simple enough I suppose.
One thing to bear in mind, there is a double edged sword with this class of assets. They're out of the system, theyre nobody's business but your own and theres no counter party. That unfortunately means that you cant lever against it for margin or sell covered calls etc. You can still buy puts though (more on that later)

Commodity Trend (CTA) 10%
https://youtu.be/tac8sWPZW0w
Patrick Ceresna gave a good presentation on what this strategy is. Until I watched this video I just thought it meant "buy commodities". A real CTA does this with futures also so aside from the way he showed, there are two other ETFs that are worth looking at.
COM - This is an explicit trend following ETF that follows a LONG/FLAT strategy instead of LONG/SHORT on a pile of commodity futures. So if they get a "sell" signal for oil or soybeans they sell what they have and go to cash.
COMT- Holds an assortment of different month futures in different commodities, as well as a *lot* of various related shares in producers. Its almost a one stop shop commodities portfolio. Pays a respectable dividend in December
If you want to break the "rules" of CTA, and include equities theres a few others that are also worth looking at
KOL- This is a coal ETF. The problems with it are that a lot of the holdings dont have much to do with coal. One of them is a tractor company. A lot of the companies are Chinese so theres a bit of a red flag.
Obviously Thermal Coal, the kind used for heating and powerplants isnt in vogue and wont be moving forward...but coking coal is used for steel manufacturing and that ain't going anywhere. The dividend is huge, pays out in December. A very very small position might be worth the risk.
Uranium- I'm in URA because thats the only way for me to get exposure to Kazatoprom (#1 producer), which is 20% of the holdings. The other 20% is Cameco (#2 producer)and then its random stuff.
Other than that I have shares in Denison which seems like its a good business with some interesting projects underway. I'm still studying the uranium space so I dont really have much to say about it of any value.
RSX- Russia large caps. If you dont want to pick between the myriad of undervalued, high dividend paying commodity companies that Russia has then just grab this. It only pays in December but it has a liquid options chain so you can do Covered Calls in the meantime if you want.
NTR- Nutrien, canadian company that was formed when two others merged. They are now the worlds largest potash producer. Pretty good dividend. They have some financial difficulties and the stocks been in a downtrend forever. I feel its a good candidate to watch or sell some puts on.
I'm trying to come up with a way to play agriculture since this new phase we're going to be entering is likely to cause huge food shortages.

EURN and NAT- I got in fairly early on the Tanker hype before it was even hype as a way to short oil but I got greedy and lost a lot of my gains. I pared down my position and I'm staying for the dividend.
If you get an oil sell signal, this might be a way to play that still.

Fixed Income/Bonds 10%

Now, I am not a bond expert but unless youre doing some wacky spreads with futures or whatever... I dont see much reason to buy government debt any more. If you are, youre basically betting that they take rates negative. Raoul Pal of Real Vision is pretty firm in his conviction that this will happen. I know better than to argue with him but I dont see risk/reward as being of much value.
HOWEVER, I found two interesting ETFs that seem to bring something to this portfolio
IVOL- This is run by Nancy Davis, and is comprised of TIPS bonds which are nominally inflation protected (doubt its real inflation but whatever) overlayed with some OTC options that are designed to pay off big if the Fed loses control of the long end of the yield curve, which is what might happen during a real inflation situation. Pays out a decent yield monthly
TAIL- This is a simpler portfolio of 10yr treasuries with ladder of puts on the SPX. Pays quarterly.

Equities 58% (shared with options/volatility below)
This is where it gets interesting, obviously most of this is in mining shares but before I get to those I found some interesting stuff that I'm intending to build up as I pare down my miners when the time comes to start doing that.
VIRT- I cant remember where I saw this, but people were talking about this as a volatility play. Its not perfect, but look at the chart compared to SPY. Its a HFT/market making operation, the wackier things get the more pennies they can scalp. A 4% dividend isnt shabby either.
FUND- This is an interesting closed end fund run by Whitney George, one of the principals at Sprott. He took it with him when he joined the company. Ive read his reports and interviews and I really like his approach to value and investing. He's kind of like if Warren Buffett was a gold bug. Theres 120 holdings in there, mostly small caps and very diverse...chicken factories, ball bearings all kinds of boring ass shit that nobody knows exists. Whats crucial is that most of it "needs to exist". Between him, his family and other people at Sprott they control 40% or so of the shares, so they definitely have skin in the game. Generous dividend.
ZIG- This is a "deep value" strategy fund, run by Tobias Carlisle. He has a fairly simple valuation formula called the Acquirer's Multiple that when he backtested it, is supposed to perform very well. He did an interview with Chris Cole on real Vision where he discusses how Value and Deep Value havent done well recently, but over the last 100 years have proven to be very viable strategies. If we feel that theres a new cycle brewing, then this strategy may work again moving forward.

I want to pause and point out something here, Chris Cole, Nassim Taleb and the guys at Mutiny Fund spend a lot of effort explaining that building a portfolio is a lot like putting together a good basketall team. They need to work together, and pick up each others slack
A lot of the ETFs I'm listing here are in many ways portfolios in and of themselves and are *actively managed*. I specifically chose them because they follow a methodology that I respect but I can't do myself because I dont have the skill, temperament or access to.
The next one is a hidden gem and ties into this. I'm not sure how much more upside there is in this one but man was I surprised.
SII- Sprott Inc. I *never* see people listing this stock in their PMs portfolios. A newsletter I'm subscribed to described this stock as the safest way to play junior miners. Their industry presence, intellectual capital and connections means that they get *the best* private placement deals in the best opportunities. I cant compete with a staff like theirs and I'm not going to try. I bought this at 2.50, and I liked the dividend. Since then they did a reverse split to get on the NYSE and like the day after the stock soared.
When it comes to mining ETFS I like GOAU and SILJ the best. None of their major holdings are dead weight companies that are only there because of market cap. I dont want Barrick in my portfolio etc.
SGDJ is a neat version of GDXJ.
Aside from that my individual miners/royalty companies are (no particular order)
MMX
SAND
PAAS
PGM
AUM
AG
MUX
RIO- Rio2 on the tsx, not rio tinto
KTN
KL
Options/Volatility: varies
So this is where we get to the part about options, Volatility and how I do it. I started out in the options space with The Wheel strategy and the Tastytrade approach of selling premium. The spreads and puts I sell, are on shares listed above, in fact some of those I dont hold anymore.
Theres tons of stuff on this in thetagang and options so I wont go into a whole bunch (and you shouldnt be learning the mechanics from me anyway) but theres one thing I want to go over before it gets wild.
If I sell a Cash Secured Put, from a risk management perspective its identical to just buying 100 shares of the underlying security. You are equally "Short Vol" as well, it just that with options
its a little more explicit with the Greeks and everything. But if I use my margin that I was talking about earlier, then I can still collect the premium and the interest doesnt kick in unless Im actually assigned the shares.
But if I sell too many puts on KL or AG, and something happens where the miners get cut down (and lets be real, they all move together) my margin goes down and then I get assigned and kaboom...my account gets blown up
So what I need to do, is balance out the huge Short Vol situation in my portfolio, be net Long Vol and directly hedge my positions. Since the overwhelming majority of my equities are all tied to bullion this is actually a very easy thing to do.

Backspreads
https://youtu.be/pvX5_rkm5x0
https://youtu.be/-jTvWOGVsK8
https://youtu.be/muYjjm934iY

So I set this up so the vast majority of my margin is tied up in these 1-2 or even 1-3 ratio put spreads that *I actually put on for a small credit*, and roll them every once in a while. I run them on SLV, and GDX.
I keep enough room on my margin so I can withstand a 10% drawdown before it sets off the long end of the spreads and then I can ride it out until it turns around and we keep the PM bull market going.
Theres another cool spread I've been using, which is a modified Jade Lizard; if already hold shares, I'll sell a put, sell a covered call, and use some of the premium to buy a longer dated call. Ive been running this on AG mostly.
I have a few more spreads I can show you but Im tired now so it'll have to wait for later.
As I said multiple times, I do intend to trim these miners later but now isnt the time for that IMO. I'm also monitoring this almost full time since I have an injury and have nothing better to do until I heal :p
submitted by ChudBuntsman to pmstocks [link] [comments]

How To Stake/Mine Coinevo

EVO Staking/Evo mining

Evo uses Proof of Stake consensus mechanism, which is different from Bitcoin's PoW (Proof of Work). Evo mining process in PoS system is called staking. The block producer will get 6.5EVO, as well as the transaction fees and gases as block reward. So the real reward is usually more than 6.5 evo in total.
Basic requirements for staking:
  1. Run a Coinevo fullnode, and keep online (Since Coinevo is using PoS, we don't need any mining machine, just PC or even Raspberry Pi can run a fullnode);
  2. Have some EVO in the wallet (fullnode)(Any amount of EVO can be used for staking, more EVO means higher possibility to stake).
If you have no EVO yet, please get some from market before you doing following staking settings.
Currently, Coinevo Core wallet is the only wallet that support Coinevo PoS staking. Note that other wallets like mobile wallet and Evo Electrum are not able to stake for the time being.
Two ways to stake:
Either way works in the same way for staking, so you can choose either method you like.

Method 1:Staking with evod (command line)

1. Run evod

Follow the guidance to run evod :
./evod -daemon 
Staking is default on for evod, so no need for other options if you only want to stake.

2. Send some EVO to your wallet

First you can generate a new address with:
./evo-cli getnewaddress 
This will generate a new address with Prefix '1'. You can send some EVO to this new generated address for staking. You can generate as many addresses as you like, and send arbitrary EVO as you like for staking.
Note:The coin should wait for 500 blocks before being able to stake, i.e. about 17 to 24 hours to MATURE..
After the EVO node syncing to the latest block, you can check current balance with ./evo-cli getbalance or get utxo list with./evo-cli listunspent
Please do following steps after your coin is mature.

3. Check staking info

Check current staking info with:
./evo-cli getstakinginfo 
You might get the result like this:
{ "enabled": true, "staking": true, "errors": "", "currentblocktx": 0, "pooledtx": 0, "difficulty": 3693409.779133397, "search-interval": 1577, "weight": 309584575558555, "netstakeweight": 1948540143266404, "expectedtime": 805 } 
enabled means if your wallet have enabled staking, it should be true by default. staking means if your wallet is currently staking (mining). weight stands for the amount of EVO that is staking right now, with unit 10^-8EVO, here in the example, we have 0.532EVO staking. expectedtime stands for the expected time that you will get a reward, the unit is second.

4. How to stake if the wallet is encrypted?

If your wallet is not encrypted, you can skip this section. However, for security, we recommand you encrypt your wallet.
Coinevo wallet can be encrypted with encryptwallet . However, staking will be stopped when it is encrypted. For example, ./evo-cli getstakinginfo for a encrypted wallet:
{ "enabled": true, "staking": false, "errors": "", "currentblocksize": 1000, "currentblocktx": 0, "pooledtx": 94, "difficulty": 5788429.670171153, "search-interval": 0, "weight": 53206430, "netstakeweight": 2438496688951881, "expectedtime": 0 } 
See staking turns to false , which means wallet is not staking.
You can use walletpassphrase to unlock wallet for staking:
./evo-cli walletpassphrase "" 99999999 true 
After unlocking, you can double check getstakinginfo , it should look the same with previous unlocked result, staking become true.

Method 2: Staking with evo-qt wallet (official PC wallet)

Current supported platform: Mac/Linux/Windows.

1. Open Evo qt wallet

Launch the wallet.

2. Send some EVO to your wallet

If you already have some EVO in your wallet, you might skip this step.
Note:The coin should wait for 500 blocks before being able to stake, i.e. about 17 to 24 hours to MATURE..

3. Check staking status

The flash sign at the bottom of wallet shows staking info :
Solid black flash means it is staking now. For more information, you can put your mouse on the flash, e.g.:
Hollow flash measn it is not staking
Possible reasons for not staking:
No flash sign means staking is disabled

About block reward

The block producer will get more than 6.5 EVO rewards, something to keep in mind:

How to disable staking?

Staking is by default enabled for Coinevo wallet. If you need to disable staking for some reason (for example exchanges are always recommanded to disable staking), you might following anyone of the 3 ways below:
1 Add -staking=false when running Coinevo node:
./evod -staking=false -daemon 
For qt wallet, it is like:
./evo-qt -staking=false 
2 Add config staking=false in evo.conf;
3 Encrypt wallet, since encrypted wallet will automatically stop staking.
submitted by coinevo to u/coinevo [link] [comments]

Crypto Faucet I use to store my mined bitcoin on, with 4.08% APR paid daily with accounts over 30k satoshi. Referral link included, I share 50% commissions with my referrals paid every Sunday if you're interested.

My referral link for the aforementioned FREEBITCO.IN: https://freebitco.in/?r=30437643&tag=redditF
I have cross referenced this post on my site: passivecryptoguides.com
Why should you sign on with me? I'm not a one off, you can reach me personally through DM or post comments. I've done most of the leg work, alleviating the trial and error process. Just follow the steps in this guide specifically in sections 7️⃣, 8️⃣, and 9️⃣.
I share 50% commissions, get a kick back on everything you earn weekly.
I trust this site, and personally have 270$ worth of bitcoin in one account with almost 500$ total including two other accounts.
Coming from Cointiply? Well, as a heads up, you're not actually holding any BTC. I suggest what you earn you HODL in FREEBITCO.IN.
Just some abbreviation and terminology explanation before we start for those unfamiliar.
BTC=Bitcoin
USD=US Dollar
Satoshi
Click here Bitcoin price history, past and present
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POST LAYOUT
1️⃣GENERAL INFO
2️⃣POST INTENTIONS
3️⃣MY EARNINGS
4️⃣HOW DO COMMISSION REWARDS WORK?
5️⃣SOME CLAIM STATS
6️⃣MULTIPLY BITCOIN STRATS AND INFO
7️⃣AUTOMATION
8️⃣OPTIMIZATION AND USE
9️⃣STRATS TO INCREASE EARNINGS
1️⃣0️⃣ADVERTISING YOUR LINK
1️⃣1️⃣LINKS
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1️⃣GENERAL INFO1️⃣
FREEBITCO.IN can be accessed from any device with internet.
Using a VPN or a TOR is now allowed given that your account achieves certain criteria similar to a captcha free account requirements.
🛑WARNING: FREEBITCO.IN wipes inactive accounts after a certain period! If you lose interest, withdraw your BTC!
📝NOTE: iOS devices (iPad, iPhone) are restrictive. The only way to access is via website, as BitBot isn't available.📝
FREEBITCO.IN is what's called a "faucet", a site that gives a small steady stream of crypto which FREEBITCO.IN does through hourly rolls and interest accrual.
FREEBITCO.IN also hosts other means to win or earn crypto, you can gamble with Multiplier, or bet on world evens and crypto prices.
After your account reaches 30k Satoshi, you begin to collect interest. The site also offers lifetime referral commissions, explained later in this guide.
All you need to start is an email. You can add more verification options for security later on. I would highly suggest it. Use a junk email though.
2FA and MFA are strongly suggested. A password should be 15 characters long. I suggest Google Authenticator for your 2FA needs.
I know you can definitely access this site from Brave Browser with add blockers enabled. I'm sure it will work with others. Even without an ad blockers, they only advertise their site gambling and games, no 3rd party adds that I've seen. It's not too invasive or spammy either.
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2️⃣POST INTENTIONS2️⃣
This post is both an advertising platform I use, and a guide I've made to help those interested to automate and optimize earnings.
For those of a cautious mindset, I've uploaded all of FREEBITCO.IN's information on interest accrual, security, and proof of mining on Imgur, in case you're worried about visiting the site.
Transparent link here: Interest accrual structure and FREEBITCO.IN security. https://imgur.com/a/wWjQtKT
My referral link: https://freebitco.in/?r=30437643&tag=redditC2
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3️⃣MY EARNINGS3️⃣
So at this point, with hourly claims and daily interest, I'm bringing in roughly 8978 Satoshi (or .70$ USD with BTC at 7804$ USD) daily at full optimization on one account, and two other self referred accounts without lifting a finger. This is before the fact that a hourly roll (claim) can reward up to a max of 200$ USD worth of BTC (percentages in section 5️⃣).
They also have a weekly lotto (tickets awarded with every roll and referral roll) with the last 1st place winner receiving .32769156 BTC (2587$ USD at current bitcoin price).
This is also not including my current commissions on accounts not owned by me. In this post I will describe some of my strategies I've incorporated, and some insight into how this website works.
To offload or withdraw bitcoin, you're going to need what is called a "wallet". I personally use Coinbase (available on mobile or desktop) as you can sell it through here as well and easily move money to Paypal or a bank.
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4️⃣HOW DO COMMISSION REWARDS WORK?4️⃣
If you are already on FREEBITCO.IN, do you have someone who referred you? Do they share commissions? If not, why not make a new account and join me, where you'll get a return on everything you earn.
As you can see, large affiliate groups don't share anything, hoarding hundreds of thousands worth of BTC earned off their referrals
I share 50% of my commissions. I get 50% of your roll rewards, 25% of your interest, and 0.4% of your wagers. All of this is paid out by FREEBITCO.IN as a commission, so it's not pulled from your rewards or held BTC.
So the more you're active, the more you'll receive from me weekly (being active is doing anything that I get commissions from). IMPORTANT: Your (and all referrals) shares are based on activity, so if you are inactive for the week, you get a lower % for that week. If you're the most active of my referrals you get a higher percentage of what I share. This is to incentivize being active and to stop people from getting a cut without doing anything.
If you have FREEBITCO.IN automated, you don't have to worry about this. However, having a larger bankroll to earn interest, or playing Multiply BTC (I do not suggest playing unless doing so to meet auto roll requirements) will increase can your activity further.
Commission Structure
Here is some proof, I've actually shared about 2/3 of all commissions
Commissions update 12 January 2020
Here is a proof of Payment section per individual
📝NOTE: I've noticed when I was creating the images of commission sharing that the "RECENT" blocks are showing zero. If you look at totals from the first image, you can tell I'm actively sharing with all of my referrals.📝
Join my team FREEBITCO.IN
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5️⃣SOME CLAIM STATS5️⃣
You can earn AT LEAST .00000552 BTC (.048$) daily when automated (or claiming every hour on the hour) before bonuses (like using reward points to increase rewards 1000%). After some testing, it seems that this amount will always be about .048$ worth of BTC, base claim rewards no bonus active.
After .00030000 BTC, you accrue compounding interest at a rate of 4.08% APR, paid daily. As soon as your daily interest is accredited, it too starts earning interest. The daily interest rate comes out to ~0.011% of your total held BTC.
FREEBITCO.IN gives you a roll once every hour, free
📝NOTE: Roll rewards fluctuate inversely with BTC price. BTC goes down, roll rewards go up, vice versa. The BTC rewards USD value will be extremely close to the values represented below.📝
Current rewards and probability with every hourly roll.
(.002$) -> 98.85%
(.02$) -> 1.00%
(.20$) -> .08%
(2.00$) -> .04%
(20$) -> .02%
(200$) -> .01%
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6️⃣MULTIPLY BTC STRATS AND INFO6️⃣
🛑!WARNING!, NO STRATEGY IS 100%, THE MULTIPLIER GAME IS GAMBLING, YOU CAN STILL LOSE YOUR WHOLE BALANCE IF YOU PUSH YOUR LUCK.🛑
UPDATE: I decided to do some research after some odd outcomes when extensively testing some of my Multiplier strats. Turns out FREEBITCO.IN does indeed have a house advantage that isn't too transparent. Longer sessions are almost always going to come out negative. If you still plan on playing, do short sessions, once daily max, with lower amounts.
There are a couple methods to play the Multiplier with a reduced risk (but still a risk) here as well. I would suggest small play sessions.
STRAT #1
My preferred settings for AUTOROLL on MULTIPLY that I've had the best success rate with to date. (preferably with .00005000 in ACCT for best results)
BET: Minimum
ODDS: 3
ROLLS: (doesn't matter, 100)
BET ON: alternate
STOP BETTING PROFIT: .00000050, important as the bets will get exponentially higher with every loss. Win in small increments.
STOP BETTING LOSS: Set a loss limit if you want, I have mine set to .00001 and haven't reached it
ON WIN: select increase bet 0%
ON LOSS: select increase bet 65%
RANDOMIZE CLIENT SEED: yes
DO NOT REFRESH: yes
Here is a pic of the settings
Anything else doesn't matter. Make sure the boxes are checked for the above options.
With this strat, I've won positive on one account, about .000077 BTC, and I've only played 5 or 6 times, at less than 2-3 minutes of play time a session.
STRAT #2
Good for accounts with a low balance. I've had a surprising amount of luck with this method, enough so that I thought I'd post it here with an update. This could work well for accounts with less than 1k Satoshi, as a losing streak wouldn't be a huge loss. For this strat, you should have at least 189 Satoshi in your account.
BET: Minimum amount
ODDS/WIN CHANCE: 189 or %0.5
ROLLS: 189 (remains the same no matter if you bet more)
BET ON: High or Low, but not Alternate.
STOP BETTING ON PROFIT: Minimum amount, once again, you want continuous small wins
UPDATE: Conducting more tests for viability
I played these settings 10 times, I came out positive 8/10 times. In the end I was positive 433 Satoshi total with selecting "hi".
On selecting "low" I went positive 5/10 losing 525 Satoshi.
On selecting "hi" and betting 10 Satoshi, I went positive 3/10 times losing 9708 Satoshi.
On selecting "high" and betting 100 Satoshi, I never went positive, 0/10. Losing 189000 Satoshi (~15$ USD).
There does seem to be a pattern of losing more when betting more. Like anything gambling, there's probably a house advantage that's not too transparent.
Win small lose small.
Pic of these settings
STRAT #3
Another strategy I've tried is betting most of my balance once occasionally with a 94.06% chance of winning. This is, eh, alright to risk OCCASIONALLY, but a loss would set you back more than you ever made using this strategy, which happened to me, I lost about 40 USD worth of BTC after making maybe 5 USD.
THIS METHOD IS GREAT FOR MEETING NON-CAPTCHA ACCOUNT REQUIREMENTS!
Playing this in auto roll, out of 20 rolls I'd always lose at least once, putting me into the negative. Even with 10 rolls, I'd more often then not lose at least once.
Pic of these settings
There are other strats out there, such as the "Martingale", which is essentially doubling the bet amount every loss, then resetting your bet to minimum after a win to in theory "win back what you lost". At 47.5% odds of winning, I've had loss streaks that would drain my account.
My summary for Multiply, use sparingly. Don't use it as your primary means of earning. Use once or twice daily, limit play sessions to 5 minutes max.
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7️⃣AUTOMATION7️⃣
📝NOTE: FREEBITCO.IN captcha requirements seem to be tiered, with requirements for Captcha free upscaling when you BTC holding passes a certain threshold.
I'm currently testing, as is another team member (Shout out to u/SrExtreme69) , what exactly these thresholds, if holding at these thresholds increases the length of Captcha free rolls, and at what amount does FREEBITCO.IN no longer require these to be met.📝
📝NOTE: To start automating, remember to verify email and setup 2FA or the Captcha will still appear even if your account meets Captcha free requirements. Check the site occasionally as Captcha free roll requirements can change. After certain held BTC amount you don't need to renew your requirements. I haven't had to achieve new requirements in over a month.📝
📝NOTE: You may need to manually roll for a bit until the the ability to achieve a Captcha free account becomes available. It doesn't show at first.📝
📝NOTE: It's very difficult, if not impossible to automate on iOS devices.
First of all, getting to this point can be a grind, but once achieved you'll have a steady flow of BTC with options to increase earnings through rewards claims using RP. I would suggest going to your PROFILE tab on FREEBITCO.IN and disabling lottery to increase RP production when starting out. Using other apps or resources to supplement income is a good idea as well.
On the FREE BTC page, there is a blue text hyperlink with requirements that need to be met to make your account captcha free, thus allowing you to enable autoroll on extensions or apps. It has multiple ways to achieve this and they can change, so if your autoroll has stopped, check to see if these requirements have changed.
Here are the requirements. (Amounts vary)
It seems only two of these requirements need to be met.
The less risky and easiest method is to buy lottery tickets and bet with jackpots on. Even better is depositing bitcoin if you have that amount.
The POSSIBLY least expensive method is to bet both regularly and with Jackpots enabled on MULTIPLY (for higher amounts required, IMO Multiplier strat #3 works best)
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8️⃣OPTIMIZATION AND USE OF FREEBITCO.IN8️⃣
For computers
I would suggest using Firefox, as you can add functions and tools to your bar up top. One of the being a "auto roll" for FREEBITCO.IN, still requires a "captcha free" account. Turn it on and let go, check it occasionally to make sure its still going.
Autoroll firefox add-on link
My link again for ease of access
Not my preferred method, but good for a second account, as using a computer means devoting more attention to FREEBITCO.IN in an inconvenient manner if you are just starting out. After Captcha has been removed, this becomes more hands free, but not as profitable as using bitbot, as you can't autoclaim RP rewards.
I haven't tried many methods besides using Firefox addons, as I'm wary of sources or intent when it comes to 3rd party scripts or programs. If I find any trustworthy scripts or programs, I will update here.
For Mobile
🛑BITBOT WARNING, IF YOU USE BITBOT TO ACCESS FREEBITCO.IN BEFORE USING MY REFERRAL, YOU WILL BE REFERRED THROUGH BITBOT, AND THEY DON'T SHARE COMMISSIONS AS FAR AS I CAN TELL🛑 My Link again
📝NOTE: iOS devices (iPhone, iPad) do not have access to BitBot, nor do they allow extensions/add-ons on their browsers. I have not personally found a way around this. You may still access the site and manually roll.📝
I use BitBot. This is the best place to start from IMO. You can set it to notify you of rolls and gives direct access to the site from the app (you can also access the site from any device with internet). Once your account is "captcha free" you can set it to auto roll AND automatically claim rewards every 24 hours (RP increase, BTC increase, Lottery ticket Increase).
📝NOTE: Bitbot allows auto roll from the app for accounts over 500 RP. This isn't permanent, as it uses your RP. You'll need to log onto the website through a browser to achieve captch free account requirements, which Bitbot does recognize, which allow completely free rolls.📝
📝NOTE: Accessing FREEBITCO.IN through BitBot doesn't allow access to the Hi-Lo or betting games.📝
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9️⃣STRATS TO INCREASE EARNINGS9️⃣
Bitbot optimization
I started manual claims by setting roll notifications to "ON" for a while until I supplemented my BTC in FREEBITCO.IN with what I was collecting from my miner and CryptoTab. Once I was able to AUTOMATE and I had enough RP to claim the RP BONUS, I set it to do that automatically every 24 hours as this nets more RP than you spend (EG, 100 RP roll bonus costs 1200 RP, but can net 2400 RP if claimed every hour). Eventually you accrue enough RP to claim the %1000 BTC bonus, probably at a rate of once or twice a week.
My current BitBot settings now that its auto claiming, I have the 24 hour auto bonus claiming 100 RP roll bonus and 100% claim bonus, spending a total of 1520 RP, but I'm making 2400 RP with the RP bonus, leaving me 780 RP in the positive each day. Every now and then I'll stop the auto bonus claim so I can buy the 1000% claim bonus (3200 RP). So on a normal day I'll make about 1344 Satoshi. Bitbot auto bonus settings
Once your accrue more referrals, or save enough RP, it's possible to claim the 1000% BTC roll bonus multiple days in a row. This is just about as optimal as you can get for auto rolling.
Self Referrals
If you have two devices (phone and computer preferably) you can make two accounts as long as one uses a different wifi or internet connection, as the roll rewards tracks IP addresses for roll counts. So if you have 2 devices on the same network, it sudo links accounts, so if you roll on one, it restarts the timer on the other. This allows you to collect referral rewards from yourself. Effectively adding 25% of interest and 50% roll rewards.
I currently have a phone autorolling on BitBot with a computer autorolling on Firefox with a tool to roll automatically as long as the page remains open. My computer account is referred from my mobile account, and is currently bringing in an extra .000015+ BTC weekly (currently, total will be this Sunday and I will update).
I've also made another account on my partners phone, linked it with bitbot and got it auto-rolling. Once bitbot is going, its non-invasive and you can silence notifications, it also uses minimal data.
Supplementing with CryptoTab
I'll use CryptoTab on my computer 24/7 to earn BTC from that while I have FREEBITCO.IN running. I also have it running on my phone at night when I sleep and on an iPad I have that I don't use much, its server mining, so no worries about battery on mobile devices. On computers it does actually use your processing power. You can directly deposit into you FREEBITCO.IN accounts.
CryptoTab Link
I've used it for two weeks and have earned a total of .000454 BTC (3.60$ USD). Not huge, but enough to start collecting interest on FREEBITCO.IN and to get the capthca free account requirements.
Supplementing with Cointiply
🛑WARNING: Cointiply's main currency is the constant, weighted against the dollar (10,000 coin/1USD). This means your actually BTC holdings will fluctuate with BTC's price.
For this reason, it's my strong opinion that DON'T HODL in Cointiply as you're not holding actual BTC.🛑
Cointiply is a great site to earn decent amounts of COIN which translate to SAT's. Earn coin, withdraw to FREEBITCO.IN (as you actually hold BTC in cointiply).
I also use an ASIC miner (Antminer s9i, DIY liquid cooled and overclocked with BixBit firmware), and whatever I earn I'll put that into FREEBITCO.IN to collect interest. If you want, I may be willing to do a rental.
⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹
1️⃣0️⃣ADVERTISING YOUR LINK1️⃣0️⃣
📝NOTE: Since this faucet has been around a while, many people privy to sites such as this are already signed up. So getting referrals can be a slog. My tips for your ads is be genuine and don't hard sell or post "too good to be true" sensational ads.📝
COINTIPLY
This is another faucet. Its structure is a bit different from FREEBITCO.IN, as you complete offers to earn coin. Within this site (also an app) users can earn coins by doing PTC ads (and other offers), this is a good method to get exposure as you can advertise as well. Using this method my traffic for last week as about 800 people.
13000 coins buys about 1000 "clicks" on your ads. They also have options to advertise to people based on location (these options will increase or decrease cost). After your first ad, you usually get a 10% off coupon good for 7 days as well.
You can earn this amount within a day doing surveys on Theorem. I've done surveys before, and this has to be one of the best surveys sights I've ever done. Very rarely do I get kicked out mid survey, and if I do, I still get partial pay.
I will also use "Hideout" on my computer and leave it running. It has to be the open tab on your browser, with the browser open, not minimized. Let it go and check it occasionally as it has a timeout at roughly 2-3 hrs idle. As of now this is the best passive method of earning on Cointiply.
PI NETWORK
Pi Network, an ICO (Initial coin offering) based on trust and social media is another good medium for advertising. I will usually see 15-20 people click on my link with 2-4 ads posted per day.
Just go to "chat", select "random" and post an ad in the chat channel. No charge.
My tip, keep your ads short to medium in length, don't spam.
XYO NETWORK/COIN APP
This is another crypto earned through "geo-mining". On the "coin" app you can do a "geodrop" where you can leave a note. Just click on the box with a parachute icon, select "any" on the "Tile" selection. Leave your ad in the "note" section.
It costs 10 "COIN" at the very least to do a "geodrop". This method may not be worth it if you aren't already involved in the program. To earn a substantial amount of coin, you'll need a subscription or a "sentinel". Sentinels can actually be purchased for under 20$ nowadays (depending on site) and is the best option to earn. Without these you'll only make approx .05-.18 coin every 30 seconds if you're actively moving.
My tips if you plan on advertising on this platform, once again keep it short, and only advertise around 7-9am and 4-6pm, as this will be peak mining hours with people driving to and from work.
⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹
1️⃣1️⃣LINKS1️⃣1️⃣
My FREEBITCO.IN Referral Link
What is a Satoshi?
Bitcoins price through Coingecko
CryptoTab Link
Autoroll on Firefox
Coinbase Link
PI NETWORK
COINTIPLY
XYO NETWORK/COIN APP
⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹⏹
submitted by thatoneguyYMK to SpareCash [link] [comments]

(Updated) [Staking] Reddcoin Core client GUI wallet on a Raspberry Pi Model 3B

Intro

This thread is an update to my first Reddcoin staking tutorial that was written 7 months ago.
 
The reason for the update
My Reddcoin Core software crashed and became unusable. My Raspberry Pi 3B would lag and freeze, I couldn't stake anymore.
 
Instead of just redoing everything the same way, I wanted to see if I could improve on 3 points:
 
The updates
 
If you would like to tip me
Writing a tutorial like this takes time and effort; tips are appreciated. My Reddcoin address: RqvdnNX5MTam855Y2Vudv7yVgtXdcYaQAW.
     

Overview

 

Steps

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
     

Video

https://www.youtube.com/watch?v=Snr5e8bzftI
This video shows how long it takes to start Reddcoin Core.   TL;DR:
     

Extra

Backup
Backup your wallet to prevent losing the RDDs in your wallet! There are two methods to backup, do both. Make new backups if you create a new receiving address!
 
 
   
Boot with only 1 USB drive plugged in:
Make sure only the USB drive (with the swap partition and data partition) is plugged in when you boot up your Raspberry Pi. This to make sure the swap partition (/dev/sda1) is recognized correctly.   If you boot up with multiple USB drives, Lubuntu might see the USB drive with the swap partition as the second drive (instead of the first drive), and ignore the 2 GB swap partition. If this happens, starting Reddcoin can render the Raspberry Pi unresponsive.
   
Connection issues If you have issues syncing the blockchain because you have 0 network connections, please follow the instructions in this thread.
   
Start Reddcoin Core easier
Run a shell script (.sh file), so you can start Reddcoin just by double clicking on an icon on your Desktop.
   
Minimization options
Adjust minimization options, so you can safely press on the X button (the close/exit button on the upper right corner).
   
RealVNC VNC Viewer (client) and VNC Connect (server): To remote connect to the Raspberry Pi, I use VNC Viewer ad VNC Connect from RealVNC.
 
   
Chromium as browser: The updates break Firefox, the browser crashes when you try to run it. Install another browser, Chromium, to solve this issue.
   
Updates / Upgrades
If Software Updater shows up and tells you that there is updated software available, do not install the updates using Software Updater. Use LXTerminal to update Lubuntu.  
     

Credits:

   
Credits in previous tutorial:
submitted by Yavuz_Selim to reddCoin [link] [comments]

Beginners guide to Syscoin (SYS) and why you should be investing in this cryptocurrency in 2018

What is Syscoin?

Some have described Syscoin (SYS) as the Shopify, Amazon and Ebay of the blockchain world. Syscoin is a revolutionary cryptocurrency that offers near zero cost financial transactions, incredible speed and provides businesses the infrastructure to trade goods, assets, digital certificates and data securely. Syscoin isn’t just about money and trading, it has the ability to attract various business types thanks to its native set of features geared towards business on the blockchain. From eBay traders and High Street shops to Medical applications, Insurance and Gaming, Syscoin’s decentralized network benefits everyone!
Syscoin is developed by Blockchain Foundry (BF). BF provides blockchain technology based services, projects and products for a wide variety of use cases with the stated aim of disrupting markets by leveraging the potential of blockchain technology. Syscoin is mainly known to be the first cryptocurrency to offer a fully decentralized marketplace based on blockchain. What is lesser known is that this is only a part of what Syscoin offers.
With the introduction of Masternodes in February or March 2018 SYS will be transformed from just a ’marketplace coin’ to a completely ‘utilitarian coin’. The Masternode infrastructure allows the addition of decentralized databases and file storage, increased transaction speed to surpass POS/Visa/Mastercard capabilities, true Turing complete smart contract capabilities for unlimited business logic, sidechains, application layers and an identity layer. This will all be accessible through an API, rather than a new language, enabling nearly any developer to create any blockchain application they can conceive. This will usher in the next generation of blockchain applications - made for new or existing businesses - by conveniently offering everything available from the blockchain space today.

SYS Origin

The blockchain as conceptualized by Satoshi Nakamoto back in 2008 envisioned a peer-to-peer electronic cash network that would prevent double-spending. A year later, the blockchain became an integral part of bitcoin, serving as the latter's public ledger of transactions. Although Nakamoto's reference client mentioned a decentralized marketplace service, the subsequent implementation did not incorporate this due to a lack of resources.
Syscoin was initially described in a 2014 draft whitepaper that envisioned Decentralized Marketplace Creation, Decentralized Smart Contracts and Documents, Decentralized Certificate Issuance and Transfer, and Decentralized Data Storage and Retrieval, as among the services that it would offer upon its release.
Syscoin aimed to bring Nakamoto's vision of a decentralized marketplace back into the blockchain, among the other commercial-grade services it aims to deliver to clients. Other services that Syscoin plans to provide include secure data storage and transfer, and unique user aliases that link their owners to the services controlled by the alias.
The early Syscoin wallet was superseded by the release of Blockmarket Desktop 1.0 on September 12, 2017, marking the culmination of Syscoin's vision of a fully decentralized marketplace with a desktop GUI based on the blockchain.
The planned release of Blockmarket Web, a fully web-based version, and Blockmarket Professional in 2018 takes that vision one step further, as more advanced seller stores become a reality.

The Team

The Team that NEVER quits! Before the launch of Syscoin (Q3 2014), there was a presale ICO by Moolah (as a partner), which turned out to be detrimental for Syscoin. The project raised around 1,000BTC for development but the Syscoin Team only managed to access 250BTC which were used for price support. Moolah (Ryan Kennedy) absconded with the bulk of the ICO funds and the Syscoin team were left with ~30million Syscoin at a price around 400 satoshi. Even after this tragic event, the devs didn’t quit and continued to work on the project without stopping. The case against Moolah is still on-going. See the article from CoinDesk here: http://www.coindesk.com/uk-court-syscoin-injunction-moolah-750-btc/.
What is this detail telling us about the dev team? While some crypto projects are just scams and bring little to no innovation, they’ve proven that they are in it for the long term - ably demonstrated by the fact that they continued to work despite their funds being stolen. And now that hard work is beginning to pay off with the entire team going full-time for the first time in January 2018 and new developers being hired following VC funding for BF.

Team Page: https://syscoin.org/team/

Blockchain Foundry Products

https://www.blockchainfoundry.co/products

What is Blockmarket Desktop?

Building on the World's First Decentralized Marketplace, Blockmarket is the newest generation of Syscoin's Desktop wallet with a complete, state-of-the-art marketplace built-in where you can securely and reliably buy and sell any items you wish. Entire stores can be created directly through the marketplace where you can sell your own products or re-sell others’ products for commission. Use of blockchain technology eliminates middlemen, credit card fees, maintenance fees, downtime and political interference. Persons are literally able to buy or sell anything to anyone, anytime, anywhere on Earth! Blockmarket Desktop was launched on September 12, 2017.

Key Blockmarket Features

• Price Pegging to currencies such as USD, EUR, GBP, CAD, CNY and BTC
• Bitcoin and Zcash as payment options
• Arbitrated Escrow
• Encrypted Messaging
• KYC/AML Compliance
• Images
• Unlimited Inventory Items

Name Aliases

Wallet addresses for cryptocurrencies generally consist of a unique string of between 27-34 alphanumeric characters. Such an address isn’t easy to memorize. Although the addresses can be added to an address book within the wallet, Syscoin has taken the user's convenience one step further, allowing you to create a unique Alias for your wallet address, such as a name, title, or characters specific to a username. These can be used to send SYS from home, to a mobile wallet, to work, to friends, to common suppliers or to repeat customers easily, without requiring any memorizing, writing it down, copy & pasting or emailing yourself the address.

Digital Certificates

Using the cryptography of the blockchain persons can issue, authorize, and exchange digital certificates of any kind. With Syscoin anyone can issue provably-unique certificates with text or ASCII content to one or multiple parties on the Syscoin blockchain. These certificates can be authenticated by anyone via Syscoin’s cryptographic proof of work. This allows for the creation and free exchange of any kind of digital asset such as ownership certificates, warranties, receipts, tickets, certifications, diplomas, software licenses and more.

Integrated Exchanges

Integrated Crypto exchanges - Flypme and Changelly will facilitate exchanging 30+ cryptos for SYS, directly within the Blockmarket wallet.

Security Audit Verified

Blockmarket was successfully and independently security audited by Digital Boundary Group and was deemed low risk. Audit Results: [https://medium.com/@BlockchainFoundry/blockmarket-security-audit-results-and-next-steps-f69f94f149bf]

Blockmarket Web – (The Key to Mass Adoption)

BM web will bring SYS’s existing decentralized marketplace and all its features into a web-based version, enabling ease of use with a simple email and password login (grandma friendly) without any need for downloading a wallet or waiting for sync. Blockmarket web will be launched in February 2018.

Key Syscoin Developments

Masternodes

Ability for world-class transactions-per-second performance to scale-out with added nodes (theoretically 100k TPS per 1000 Masternodes, 300k TPS/3k masternodes, etc). In later releases, masternodes will also process smart contracts and facilitate sharded+encrypted offchain file-storage (with onchain anchors), among other touted functionality. They should also result in steadying the price movements - less volatility as holding will be incentivized

Smart Contracts

Scalable Ethereum Virtual Machine: Allows Turing complete smart contracts to be executed following the ethereum protocol at a much faster speed and at a fraction of the ethereum gas price.

Assets & Token Issuance

With its token issuance service, Syscoin allows anyone to create a custom asset token which can then be sent directly to anyone else on the network. This facilitates a variety of use cases including ICO token issuance, supply chain management, reward points, and loyalty programs.

Anonymous Transactions

Anonymous transactions: via mixing/shuffling at user-specified denomination. Afterwards, additional tech will be added in the near future which will further compound the degree of anonymity provided -Add ValueShuffle running on top of the masternode layer and you have the world's most advanced privacy tech in any coin. This brings true money fungibility to Syscoin and the missing link for true economic sovereignty. https://twitter.com/realSidhuJag/status/948588279540035584

Instant Send

Transactions can be sent and received instantly. This represents a similar sending capability as Dash, but is a step beyond- A type of backend node locking will allow an instantly received sum to be sent immediately, without delay, and without network risk of double-spend.

Why Invest in Syscoin?

https://medium.com/@StevenVoros88/the-most-undervalued-project-in-the-crypto-world-not-for-long-96814ac66b08 https://medium.com/@danieljasonwestby/syscoin-the-hidden-gem-of-2018-96f973b81b9 https://twitter.com/Asbsvc/status/939959284246380545 https://twitter.com/CryptoBulld0g/status/935915911776784384 https://medium.com/@BlockchainFoundry/syscoin-to-disrupt-ebay-and-real-estate-industries-96aa55ef709a https://medium.com/@thecryptojournal.com/top-crypto-investment-for-2017-b99656491c6f https://www.youtube.com/watch?v=VNDprLJhGys

Merchants

https://medium.com/@BlockchainFoundry/merchant-pilot-program-update-7479fe451639

Partnerships

(Microsoft Azure)[https://azure.microsoft.com/en-us/blog/syscoin-joins-azure/]

Decentralized Identity Foundation

https://medium.com/@BlockchainFoundry/consensus-decentralized-identity-foundation-blockmarket-beta-3-beyond-6f830419ea55

White Paper

http://syscoin.org/whitepaper.pdf
Note: It is anticipated that the whitepaper will be updated by the team in the near future due to recent developments

Roadmap

http://syscoin.org/images/roadmap_2018__1024.png

Blockchain Application Development Architecture

https://cdn-images-1.medium.com/max/1200/1*bUO6_nRI7q805edG59e0DQ.png

Feature List 2017 & 2018

https://pbs.twimg.com/media/DUJwbI_X4AI3QL_.jpg

Where to Buy

• Bittrex • Poloniex • Upbit • Tux Exchange • Livecoin • Yobit • AEX • Bittylicious • Changelly • Flyp.me

Wallets

• Block Market Wallet 1.2 – Windows and Mac. Download from https://syscoin.org/
• QT Wallet for Developers: Download from https://github.com/syscoin/syscoin2/releases/tag/2.1.6
• Coinomi – Syscoin MultiCoin Wallet (only supports send/receive)
• HolyTransaction – Syscoin Multicoin Web Wallet (desktop & android)

Other Sources

https://syscoin.org/ https://twitter.com/syscoin https://www.blockchainfoundry.co/ https://en.wikipedia.org/wiki/Syscoin
Disclaimer This post was created particularly to aid those who are new to Syscoin. Please note that the content provided within this post is for information purposes only and is not to be construed as investment advice.
submitted by one22manytimes to CryptoCurrency [link] [comments]

[Staking] Reddcoin Core client GUI wallet on a Raspberry Pi Model 3B

This tutorial has been updated: https://www.reddit.com/reddCoin/comments/a0wn1v/updated_staking_reddcoin_core_client_gui_wallet/.
   

Intro

I want to stake Reddcoins on my Raspberry Pi, but there is no easy to install package for the Reddcoin Core client. I found some tutorials (mentioned at the bottom, under 'credits'), but I still struggled to get the result I wanted. It took some small adjustments, but I got the GUI Wallet of Reddcoin Core working on my Raspberry Pi Model 3B. See the steps below. :).
 
If you have any questions or comments, please post a comment in this thread, so others can also benefit from it.
 
If you would like to tip me: RqvdnNX5MTam855Y2Vudv7yVgtXdcYaQAW.
   
Even though Raspbian is the primary OS for the Raspberry Pi, it seems that it's not possible to build and compile the Reddcoin wallet software for Raspbian Stretch. However, I got the wallet compiled using Ubuntu MATE.
     

Overview

     

Steps

 
 
 
 
 
 
 
 
 
 
 
 
 
 
     

Extra

 
 
 
 
     

Credits:

 
Thank you all for sharing your knowledge!
submitted by Yavuz_Selim to reddCoin [link] [comments]

Run a 0.14 Full-Node on RaspberryPi3 Pruned(less than 16GB SD needed)

Hi!
Happy if this guide helps you.
Tip if you want: 19656Uwdwko5RjtnuwQENpjBwE3ChzD59v
UPDATE 04/06/17
Add 'uacomment=UASF-SegWit-BIP148' into your bitcoin.conf if you want to signal UASF.
UPDATE 03/13/17
ADDED a tl;dr; Version at the end of this Post.
UPDATE 03/12/17:
Just to test it - I reinstalled all on 8GB SD and it works as well. But maybe you should use at least 16GB for the beginning.
Using a 128GB card for the first version was a little bit stupid - so I reinstalled everything on a 8GB SD card. Including Linux and a pruned blockchain - and it works.
I used prune=550 and Jessie Lite (headless / command line) - without wallet and gui.
The SD is almost full, but it works so far
I also updated the whole manual a bit to make things more clear. Thank you for all your feedback!
Just started my Bitcoin Node today and wanted to share the way I did it with people who are interested in running their own full node. It took some time to write everything down - hopefully correct so far.
I am sure, many people around bitcoin are way more informed and educated as I am - I am the noob. So I wrote this manual to help users like me - noobs, to get started with a cheap, simple bitcoin node on raspberry pi.
Have fun!
I wanted to get my Raspberry Pi 3 working as a node to support the network. Actually the process of installing and running the node was more or less easy - but for Noobs (like I am) it might be a bit tricky to start the whole thing, because there are different ways.
Did you - like me - think you would need +120GB on the raspi, external USB HDD to be a full node? You won't!
If you have a Raspberry and you know what Bitcoin is, I guess, you are a little bit aware of linux, networks and of course bitcoin - so I won't go into detail too much.
This guide is just a little helper to get a full node running on your raspberry pi. Thanks to the help of the nice people in this sub and of course the documentation by the developers, I got it working - and of course also special thanks to raspnode.com - as I followed their tutorial to start - I went some other ways here and there - so please read carefully.
For the Part 2 I would suggest to have http://raspnode.com/diyBitcoin.html open and read through my manual.
I split the tutorial in 2 Parts - PART ONE is about installing the client on your PC and downloading the Blockchain.
PART TWO is about the setup of the raspberryPi and transferring the pruned blockchain to the pi and run it as a full node!
The first thing to be aware of is: You actually need to download the whole blockchain to get this working - if you already have your bitcoin client synced on the PC / MAC great you can reuse it!
Now you might think "but you said less than 16GB in the title!"
Yes, but the good thing is you won't need to download it on your Raspberry, neither you need to sync it completely on your raspberry which took ages (weeks!) before. When you finished this Guide, you will just have a max. 4GB Blockchain on your Raspberry Pi - but it still is a full node! The magic word is Pruning.
Maybe even a 8GB SD Card works just fine including Linux (jessie lite)!
So, if you already have a full node on your PC - Great you can almost skip PART ONE - BUT have at how to Prune in PART ONE if you don't know about it.
For PART TWO you'll need a Raspberry Pi 2 or 3 (I used 3) min. 8GB (works also) or better 16GB SD Card. (I used a 128GB for the first version of this manual - which is way too big)

PART ONE

This is the manual how to get started on you PC / MAC / Linux (I did it on Win7)
Go to: https://bitcoin.org/en/download and download the core Client for your Machine (I used win64).
Install it and configure it to save the Blockchaindata to the directory of your choice - so instead getting 120GB on your C drive, I would suggest to download it to another place like a USB drive.
You can set this up during the install. Standard folder for the blockchain folder is "%APPDATA%\Bitcoin" on Windows.
or you can do it after the install by creating a bitcoin.conf file inside your installation folder / or %APPDATA%\Bitcoin and add
datadir=l:\yourfolder
to the file. Line by line.
By the way here you could also just add dbcache - to use more memory to speed up the process a bit:
dbcache=4096
if you don't want to use the settings inside the program. (you can also set this inside the program under settings! If you have this inside the bitcoin.conf you will see the amount you set there from inside the program - it overrides the values)
You can check inside the windows client under settings, if you can see a manual dbcache is set by having a look at the left footer area. When your dbcache value shows up, everything is fine.
So the Blockchain download process will take time - maybe a few days! Depending on your machine, internet connection and HDD.
The Blockchain is huge as it contains every single transaction of the past until today. You won't need to keep your PC running all the time, you can turn it off and on and it will resync automatically when you start bitcoin-qt.exe!
Make sure to close the client always via "quit" - ctrl+q.
After you have your bitcoin core installed, the blockchain downloaded and synced - you are ready to PRUNE!
First - close the Client and let it close smoothly. After it is really closed you can follow these steps:
By pruning, your blockchain will dramatically shrink. From 120GB to just a few GB.
Be aware, that you will lose your Downloaded Blockchain as pruning will erase a big chunk of it! If you have enough space, you could of course keep the full blockchain saved somewhere on another HDD.
You can prune by editing your bitcoin.conf file by adding:
prune=550
I used prune=1024 - not sure where the differences are right now (min. prune=550). (for my 8GB version I used 550! I suggest to use this.)
Save the bitcoind.conf file and restart your windows client.
It will now clean up the Blockchain. So just the latest blocks are saved. The client should start without any problems. Maybe it takes some time to prune the blockchain data.
Check if everything works normally (the client opens as usual, you can see an empty wallet) than close the client.
Inside the Bitcoin Folder, you'll find two folders called:
blocks chainstate
those are the interesting folders containing the important data (now pruned) - and we will transfer those two to the raspberry later!
Now you are good to start the raspi transfer explained in the next part.

PART 2

Here is what I did:
1) I installed Raspian Pixel (https://www.raspberrypi.org/downloads/raspbian/) using a 128 GB SD - which is not needed because of "Pruning" - I think a 16GB card might work, too! (You can also install Raspian Jessie Lite - which saves you even more space, as it runs headless - only command line) (Updated: It is better to use Jessie Lite to save a lot of space - when you are fine with only command line)
2) I followed partly this tutorial to get everything running and setup:
http://raspnode.com/diyBitcoin.html
Please have a look at it - I have copied the Headlines in capitals to let you know what I did, and what I skipped.
On Tutorial Page: Start with RASPBIAN (OPTIONAL) CONFIG OPTIONS.
Set You RasPi up including "EDITING FILES" to save your Layout at the tutorial page and come back here.
I skipped the CONFIGURE USB AND SET AUTOMOUNT process, as we are going to use PRUNING to reduce the 120GB to a tiny filesize - so USB Devices are not needed here!
It was necessary to ENLARGE SWAP FILE to install bitcoin core - otherwise it didn't went through which ended in a frozen raspi.
So have a close look by following the raspnode tutorial at: ENLARGE SWAP FILE.
I have my raspi running via cable to router - but you can also WiFi setup everything described under NETWORKING ON THE RASPBERRY PI.
Now comes the interesting part: Follow the steps at DOWNLOADING BITCOIN CORE DEPENDENCIES - they work fine for 0.14.0 too. Git should be on Board already when you installed Pixel - otherwise you would need to install it.
sudo apt-get install git -y (only jessy lite)
I skipped the next command lines - as I don't use bitcoin-qt wallet. If you want to use it as wallet - do the step.
mkdir ~/bin cd ~bin
Now you are in the folder you want your bitcoin core data be downloaded to via git. I didn't Downloaded the Berkeley Database source code - so I also skipped the whole next command lines
[email protected]~/bin$ wget http://download.oracle.com/berkeley-db/db-4.8.30.NC.tar.gz [email protected]~/bin$ tar -xzvf db-4.8.30.NC.tar.gz [email protected]~/bin$ cd db-4.8.30.NC/build_unix/ [email protected]~/bin/db-4.8.30.NC/build_unix$ ../dist/configure --enable-cxx [email protected]~/bin/db-4.8.30.NC/build_unix$ make -j4
and went on with "INSTALLING BITCOIN"!
I followed the first part but instead downloading 0.13 I took of course the latest version:0.14
git clone -b 0.14 https://github.com/bitcoin/bitcoin.git cd bitcoin ./autogen.sh
this might take some time to start.
If you have trouble with hanging RESOLVING DELTAS - just restart the Raspberry Pi and remove the bitcoin folder inside /~bin using
rm -rf bitcoin
this command will delete the folder and you can reuse
git clone -b 0.14 https://github.com/bitcoin/bitcoin.git

For some reason RESOLVING DELTAS is a common problem with different downloads - so just retry it and at least after 3 times it should work!

as I didn't use the GUI/ Wallet, I ran
./configure --enable-upnp-default --disable-wallet
as I don't need the wallet functionality.
I didn't need to use "MAKE" which saves you maybe up to 2.5 hours.
instead you can just go ahead with:
sudo make install
(If I am wrong in doing so - please let me know)
The install takes some time - and just a heads up: when it gets stuck somewhere - just redo the installation process - it took three times to went through - stuck at some processing.
After the installation took place you can finally get your Raspberry Pi Node running in no time!
To test if the the installation went through - you can just start bitcoind using:
bitcoind &
than check if everything is working so far:
bitcoin-cli getinfo
after a few seconds you should see version: etc...
if not, something went wrong. Try to redo the steps in the raspnode tutorial.
(don't give up if it failed - retry! Ask your questions here)
IMPORTANT: you need to stop bitcoin on your raspberry now!
bitcoin-cli stop
If you don't need an external USB Drive - what I hope - as we are going to use pruning just go ahead and skip the USB part and create a file inside (or follow the raspnode tutorial on how to setup the USB drive):
cd .bitcoin
sudo nano bitcoin.conf
and enter the exact same pruning size you have used on your Desktop Machine to prune. I used 1024 but the minimum is 550. (used 550 for the 8GB SD card on PC and Raspberry)
prune=550
That's it for the raspi.
update: To signal UASF enter in a new line:
uacomment=UASF-SegWit-BIP148

TRANSFER

Now you have to transfer the two folders CHAINSTATE and BLOCKS from your PC bitcoind directory to your raspberry.
I am using a program called "WINSCP" - it is free and easy to use: https://winscp.net/eng/download.php
We need this to transfer the files to the Raspberry pi. Pretty sure you can also do it via SSH - but I am the noob. So let's keep it simple.
Open Winscp and put in the IP Address of your Raspberry Pi, User and Password (same as in SSH)
You should now see the directories on your Raspberry Pi. There is a folder called
.bitcoin
enter it and you will see the two folders
blocks & chainstate
you can delete them on the raspberry as they have some data from your previous test inside.
Make sure you can also see the bitcoin.conf file in that directory, which needs to contain the exact same prune line, like the one on your desktop machine. If not, make sure to edit it via SSH. The line "datadir=l:\yourfolder" is obviously not needed in the Raspberry bitcoin.conf file.
Now grab the two folders CHAINSTATE and BLOCKS from your PC and copy them to your .bitcoind folder.
I also copied banlist.dat, fee_estimation.dat, mempool.dat and peers.dat to the folder - not really knowing if needed! Not needed.
The whole copy process might take some minutes (against some weeks in the old way).
After copying is finished, you can now start bitcoind on the Raspberry.
bitcoind &
the & symbol let you still use the command line while the process is running btw.
The process - if succesfull - will take some time to finish.
bitcoin-cli getinfo
Will give you some informations what is going on right now. When you can see, that it is checking the blocks, this is good!
If you get an error - double check - if you have the correct prune size (same as on desktop machine) - in bitcoin.conf and that this file is inside .bitcoin on RaspberryPi. It took me some time, to find my mistakes.
Congrats! You are almost a part of the network!
To make your node now a fullnode, you will need to go to your router (often 192.168.1.1) and enable portforwarding for your raspberry pi - and open ports 8333 - that's it!
You can now go to: https://bitnodes.21.co/nodes/
scroll down to "JOIN THE NETWORK" and check check if your node IP is connected!
It will show up as soon as the blocks are checked and the raspi is running.
Well done!
Now you are running a full node, with a small Blockchain and got it working in Minutes, not weeks!
I really hope, my little tutorial worked for you and your are part of the Node network now.
If you have problems or I made a mistake in this helper tut, just let me know and I will try to make it better.
Have fun and NODL!
the noob
tl;dr; (if you are a real noob start with the non-tl;dr version!)
tl;dr; PART ONE
1) Download & install / setup bitcoincore @ https://bitcoin.org/de/download
2) change dbcache to something smaller than your memory and download the whole Blockchain (120GB).
3) create a file called bitcoin.conf put the line prune=550 (or higher) in to activate pruning on win inside %appData%/bitcoin
4) Open ports 8333 on your Router to make this a full node with a smaller Blockchain.
You are running a full node on your PC.
tl;dr; PART TWO
1) Install jessie lite and the needed dependencies on your SDCard - Raspberry
( >git clone -b 0.14 https://github.com/bitcoin/bitcoin.git )
  • see tutorial for more info.
2) create a file called bitcoin.conf inside .bitcoin and add the same prune=Number you had on your PC.
3) transfer the pruned folders BLOCKS and CHAINSTATE to the Raspberry Folder .bitcoin
4)Start "bitcoind &"
5) let everything sync
6) Make sure you have port 8333 opened on your router.
You are running a full node on your Raspberry with a super small Blockchain (I put all on a 8GB SDcard)
Tip if you want : 19656Uwdwko5RjtnuwQENpjBwE3ChzD59v
updated 03/12 - will update more, soon.
updated 03/12.2 - I updated the whole process a bit and also added some improvements.
updated 03/14/ Added a tl;dr version at the end.
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