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Coin Analysis

The Looming Threat of China

The Looming Threat of China: An Analysis of Chinese Influence on Bitcoin

In this paper, Ben Kaiser, Mireya Jurado, and Alex Ledger explore the real threat that China poses on Bitcoin, in numerous ways. Surprisingly, I haven’t seen much discussion on this topic online. Surely it has been obvious that China is the type of power that can dare to try to control anything in the world, even Bitcoin – the face of the Decentralization movement. Will China succeed? Here the abstract:

As Bitcoin’s popularity has grown over the decade since its creation, it has become an increasingly attractive target for adversaries of all kinds. One of the most powerful potential adversaries is the country of China, which has expressed adversarial positions regarding the cryptocurrency and demonstrated powerful capabilities to influence it. In this paper, we explore how China threatens the security, stability, and viability of Bitcoin through its dominant position in the Bitcoin ecosystem, political and economic control over domestic activity, and control over its domestic Internet infrastructure. We explore the relationship between China and Bitcoin, document China’s motivation to undermine Bitcoin, and present a case study to demonstrate the strong influence that China has over Bitcoin. Finally, we systematize the class of attacks that China can deploy against Bitcoin to better understand the threat China poses. We conclude that China has mature capabilities and strong motives for performing a variety of attacks against Bitcoin.

Bitcoin Dominance hits 10-week high

Decentralized Governance Struggles Continue to Validate Bitcoin

As the cryptocurrency bear market continues, EOS’s USD price is hovering around $6.65. The market’s display of trust (or lack thereof) in the existing models makes one think whether any of them are heading in the right direction as far as decentralized governance and finance are concerned.

Nick Szabo and Dan Larimer represent two different forces and schools of thought on governance. Szabo’s model seems to focus a lot more on trustlessness and seeks true decentralilzation through a self-run and self-governed AI, whereas Larimer’s EOS incorporates constitutional governance (that can resemble the founding of the USA, which evidently can go corrupt as the founders of the nation themselves anticipated and warned against).

Szabo does however favor Ethereum despite the fact that some believe it’s not truly decentralized because of the Ethereum hard-fork which took place after a consensus following the DAO hack.

In light of these observations, Bitcoin continues to shine as the one and only truly decentralized blockchain to date.

Perhaps with the further development and widespread deployment of the Lightning Network and second-layer dApps, Bitcoin can render all the other pseudo-blockchains useless.

One metric that supports this hypothesis is Bitcoin Dominance, which continues to climb the highest levels in 10 weeks. I would not be surprised if Bitcoin dominance continues to return to the 2017 levels and beyond.



An Introduction to the First Mineable Token: Interview with Infernal_Toast

The Problem of ICO’s: new token projects are centralized because one entity  handles all of the initial coins and all of the the raised ICO money.

The Solution: the first decentralized mineable token on Ethereum.

After an rapid rise in the network hashrate [1], price fluctuations and a big  hype of ‘0xBitcoin on the Ethereum’ discussed on reddit and 4chan, many miners are jumping on the ‘first mineable token’. Besides a parabolic rise in the hashrate, we can also notice serious discussions about the implementation of the mineable token on Ethereum, We from Coinoid decided to have a talk with the Smart Contract deployer, Infernal_Toast and figure out why there is a mineable token created.