Author: Eric Sammons

What is the Worst Scamcoin?

If you’re involved in the cryptocurrency world for even a few minutes you’ll quickly hear the word “scamcoin” (or its rougher cousin “shitcoin”). Anytime a new coin is launched, some Reddit warrior or forum crusader will declare the coin a scamcoin, then sit back, satisfied he’s enacted Internet justice. Even after a coin has been around for a long time and proven it has staying power (*cough* Dash *cough*) brigades may still command anyone who will listen—and even to mom upstairs—to avoid this “scamcoin.” It’s almost a rite of passage in the crypto world. But what actually is a...

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Dash Budget System: Where Reputation Is Everything

The Dash Budget System (DBS) is truly revolutionary. Never before has a blockchain supported itself; nor has there ever been a time when people supported themselves via payments from a blockchain. (Of course, blockchain technology itself didn’t even exist a few years ago.) But with anything new and innovative comes the potential for weaknesses and flaws, and sometimes such weaknesses can be exploited by individuals for personal gain. From this follows calls to prevent these flaws, but sometimes suggested “improvements” are actually steps in the wrong direction. Scamming the DBS One of the most common criticisms of the DBS...

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Bitcoin Cash vs. Dash: Which Will Fulfill Satoshi’s Vision?

For months now, August 1st has loomed large in the Bitcoin world. It’s like a crypto version of Y2K: Will Bitcoin fork? If so, into how many chains? Which chain(s) will survive? Will Bitcoin itself survive the potential chaos and confusion? When the Segwit2x agreement locked in recently, many fears were relieved and observers felt that the crisis was over…or at least delayed. However, one of the potential forks—Bitcoin Cash—has announced that, regardless of Segwit2x being locked in, it will fork nonetheless on August 1st. What is Bitcoin Cash? How does it differ from Bitcoin? And, more importantly for...

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5 Takeaways from the Dash Hong Kong Statement

The movie Braveheart depicts William Wallace leading a Scottish rebellion against the English. After some initial but small successes, the Scottish nobles squabble among themselves over minor issues like land titles and rights of succession. Wallace confronts the nobles and declares he’s going to invade England itself—a seemingly impossible task. I was reminded of this scene when reading Dash founder Evan Duffield’s Hong Kong Statement. Having initially scored some small successes against the reigning fiat-money system, the Bitcoin community now squabbles over things like SegWit, 2MB block sizes, and Lightning Network. But Duffield wants to “invade England” and challenge...

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Is Your Cryptocurrency Handicapped?

Everyone recognizes that Bitcoin – and blockchain technologies in general – have scalability issues. But what if Bitcoin, by its very design, can only address half the problem? Imagine an alternate reality. It’s 1996. Larry Page and Sergey Brin are working hard at Stanford to create a better search engine – one that can be used the world over. They create Google, and it quickly becomes one of the most popular search engines in use. But they institute the following requirement: Google’s software can only run on servers owned and operated by volunteers. These volunteers will not be compensated...

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