0xbtc

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Glad to see real development instead of buzzwords and bullshit. bravo

yeah I read that thread and pasta guy doesn't seem to have an actual proof to back up his claims. He must've fomo'ed at some point and now blames others for a bad decision

One of the biggest criticisms to 0xBitcoin is that it distributes via Proof of Work, but it uses Ethereum's PoW as security rendering smart contract proof of work as redundant. I would argue that the economics of electricity-based distribution stands on it's own, however, taking a step outside of my own bias I realized that perhaps there's a point here - even better, an opportunity.

This is a diagram I put together late last year outlining a suite of potential Layer 2 applications using 0xBitcoin's proof of work. Put simply, one can propagate 0xb PoW onto Layer 2 services while keeping them decentralized. This image comes from a 2 part Medium article outlining the details of a simple system for those interested:

medium.com/0xbitcoinfoundation/arbitrary-off-chain-security-using-0xbitcoin-merged-proof-of-work-7c4ff0d07d3f

medium.com/0xbitcoinfoundation/arbitrary-off-chain-security-using-0xbitcoin-merged-proof-of-work-part-2-show-me-the-code-b63254f1d117

In essence, one can use a sort of 'merged mining scheme' to chain and secure multiple off-chain services like cross chain bridges, decentralized oracles, payment channels, or even layer 2 compute/storage systems, eventually rewarding the original miner 0xBitcoin fees for security services rendered. The really cool thing is that given the deterministic nature of 0xBitcoin's Proof of Work, these services would benefit from the security of 0xBitcoin's Proof of Work solution, without effecting any of the existing infrastructure. So all mining software and hardware, the mining pools ( shout out to Mikers ) and of course the contract itself remains unaffected. This is a new type of layer 2 infrastructure that can be daisy-chained between the mined solution and the mint() method of the 0xBitcoin contract.

We are currently experimenting with a crosschain bridge, and playing around with a layer 2 decentralized oracle. Hop on over to the discord and say 'hi', it's really friendly over there.

I am having a bad day but goddamn at least I am not shilling 0xBTC in 2019. Thanks for the laughs, Pajeesh!

I'm really torn on 0xbtc. Like, what you say is definitely correct; it was a massive pnd and has left a lot of people burnt. But on the other hand, as someone who thinks Ethereum will remain the go-to chain for years to come, how the fuck won't this moon super hard after pos and other improvements are made to eth?

perhaps it was a pnd, we the main people in the discord don't know about it because the project is legit and does not do stuff like that. other projects have also been the victims of pump crews, it is not a reflection of the project.

you said nothing, zero content about 0xbitcoin. are you able to say something substantive?

It obviously was pumped and dumped, but you don't even need to be much of a whale to PnD a sub-$1MM mcap crypto. Someone just saw a low mcap emerging token and decided to manipulate it for some quick bucks. There's nothing the token creator or community could have done to prevent it, in fact, if they could have somehow prevented it, then that would actually diminish the reputation of the token, since it would mean that some entity is in control of it.

The truth, however, is that it's the first ERC20 token without a central entity at the top. It's governed by code and code alone. As long as Ethereum still remains the go-to chain in the coming years, this absolutely will moon super hard. Just look at pic related and think what a massive game changer this really is. It's the first ERC20 that's an actual crypto. If you have more time, I recommend you to read a more thorough take on it at
medium.com/@0xK/the-what-the-why-and-the-how-of-0xbitcoin-5c635fe2df6b

Also, if you have a Telegram account, then you can get your first 0xBitcoin for free at
telegram.me/the_0xbitcoin_faucet

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I send my 0xbtc to binance eth wallet, i got wrecked of 200 0xbtc.l lel

What happens if Maker Dao does use 0xbtc? Wouldnt the price rise so fast anyone who doesnt own any will be basicly paying 20x current price.

Does it make chainlink obsolete?

step away from the keyboard slowly and lie down for a while

Done, can you answer now?

i guess you're not trolling?? or you still are?? in any case, 0xbitcoin and chainlink have very little to do with each other. 0xbitcoin is "just" bitcoin ported to ethereum.

Did you read the post I replied?

what wallet can i keep it on, metamask?

Or did it mean it can secure decentralized oracles or what the fuck?
>In essence, one can use a sort of 'merged mining scheme' to chain and secure multiple off-chain services like cross chain bridges, decentralized oracles, payment channels, or even layer 2 compute/storage systems, eventually rewarding the original miner 0xBitcoin fees for security services rendered.

Can someone explain pls.

First decentralized token on Ethereum

it's an ERC20, so anything that holds ethereum.

sorry, my bad, i see you are asking about that other dude's related projects, disregard me i suck cocks

We actually pumping rn lol

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lel