Monday, November 20, 2017

BLOCKCHAIN, PROOF OF ELAPSED TIME, INTEL SAWTOOTH PLATFORM , TEE, SGX , PART 14 - CAPT AJIT VADAKAYIL


THIS POST IS CONTINUED FROM PART 13, BELOW---




Let us hear what INTEL tells about their own achievements in their whitepaper ( extracts )  …

Info about block chain I have already covered and hence is a mere repeat.

Intel has developed the Sawtooth Lake Distributed Ledger Platform (SLDLP), that is targeted at building, deploying, and running distributed ledgers.

A distributed ledger can be thought of as a secure database that is implemented among a group of participants without a central authority or administration. 

Participants in the ledger can submit transactions to add, remove or modify records in the database according to a set of rules that are guaranteed to be enforced by the ledger (for example, the ledger may ensure that you can’t spend money that you don’t have).

A blockchain is an immutable series of transactions that is shared by all participants in the ledger. Cryptographic signatures ensure correctness and guarantee “non-repudiation” (that is, that once a transaction is committed to the blockchain, it cannot be un-committed). 

Distributed consensus algorithms ensure that all participants see the same series of transactions even if bad actors try to compromise the system. The most unique characteristic of a blockchain is that it can provide these capabilities without a central organization to provide authorization or administration. 

The blockchain method got its name from the way it builds historical transactions: records of transactions are collected in blocks that are time/date stamped and chained together in chronological order. 

A new transaction is appended with a timestamp as a new block to the back of the current blockchain. Each valid block in a blockchain contains a reference to the previous valid block, and this creates a chain of blocks that captures the history of a transaction. 

Blockchain is a machine for creating trust: the blockchain allows a group of users who have no particular confidence in each other to collaborate without having to go through a neutral central authority.

Distributed ledgers based on blockchain technology present several advantages over current record handling methods that rely on a centralized database: 1) Central intermediaries are removed from the transaction, 2) Connections between counterparts are simplified because the data resides at every participant, and 3) Data is recorded on a tamper-proof and secure block chain. 

Participants in a blockchain event each have their own copy of the stored data in what can be considered a secure, distributed, shared database. Changes to the data are validated by participants collectively, and updated across the network almost immediately.

There are three common types of distributed ledger in use: public (or open) ledgers, private (or permissioned) ledgers, and consortium ledgers. The main distinction among the types is who has access to the database.

Advantages of blockchain and distributed ledger technology are:--
• Convergence on a consensus for changes applied to the data
• Decentralized data and authority
• Non-repudiation of data (digitally signed information)
• Full replication of data (distribution of encrypted storage)
• Distribution of trust (fully auditable)

Disadvantages of blockchain and distributed ledger technology are:--
• Inefficient method for data transfer
• No service level agreement (needed for Enterprise applications)
• Many unanswered questions: validation, scalability, transaction complexity, number of participants, viability of privacy

The Intel Sawtooth Lake Distributed Ledger Platform (SLDLP) is a modular prototyping platform that is targeted at building, deploying, and running distributed ledgers. The Intel SLDLP consists of an SGXenabled SDK platform, an SGX distributed ledger toolkit (white boxes), and the distributed ledger
technology

The SGX technology (integrated into Skylake) provides an add-on SGX DLT Toolkit  to facilitate and streamline operations in eight areas of the distributed ledger environment.

• Secure Wallets: Secure management for credentials used to interact with the ledger
• Secure I/O: Secure path for information to ensure the integrity of information triggering smart contracts (technology that is in development)
• PoET: An algorithm that uses Intel’s Software Guard Extensions (SGX) to establish a globally consistent view of the ledger
• Sawtooth Lake: Intel’s platform for building distributed ledgers
• Secure Containers: Secure execution containers (technology that is in development)
• 3D XPoint™ Memory: Intel’s large scale persistent memory
• SGX: Intel’s Software Guard Extensions, an enclave that protects code and data from exposure and modification
• Crypto Accelerators: AES-NI and other accelerators that improve the performance of cryptographic algorithms

The SLDLP uses a Nakamoto-style consensus algorithm called Proof of Elapsed Time (PoET). 

As a proof algorithm, PoET uses a lottery for leader election that is based on a guaranteed wait-time provided through a trusted execution environment. 

For the purpose of achieving distributed consensus efficiently, this lottery function provides several characteristics:--
• Fairness: The function should distribute leader election across the broadest possible population of participants.
• Investment: The cost of controlling the leader election process should be proportional to the value gained from it.
• Verification: It should be relatively simple for all participants to verify that the leader was legitimately selected.
Blockchain provides mechanisms to:--
• Ensure that the contents of the records have not been changed ( as hash generated would be unique to the document contents)
• Provide an audit trail by adding timestamp to the records
• Restrict access to authorized users
• Enable attribution that encourages individual participation in large-scale projects



CK
November 20, 2017 at 4:22 PM

SBI blockchain rollout December

https://www.cryptocoinsnews.com/indias-largest-bank-confirms-blockchain-rollout-december/

INDIA IS BEING USED AS A GUINEA PIG IN FINANCE

WE KNOW HOW BHARATMATA PAID THE PRICE FOR THE KOSHER" GREEN REVOLUTION " , THE KOSHER "WHITE REVOLUTION " AND KOSHER  " EVIL PHARMA INDIANS AS GUINEA PIGS REVOLUTION "

WHAT THE FUCK IS HAPPENING ? 


Capt. Ajit Vadakayil

November 20, 2017 at 5:26 PM

https://www.cryptocoinsnews.com/indias-largest-bank-confirms-blockchain-rollout-december/

This is TOTALLY reliant on Intel’s Software Guard Extensions(SGX) .

SO STATE BANK OF INDIA ( READ AS FINANCE MINISTRY RUN BY A LAWYER NAMED ARUN JAITLEY ) WANTS TO OPEN INDIAs BOTTOMS WIDE TO INTEL , RIGHT ?

PoET doesn't make sense for either private or public blockchains. ..

It's way too easy to create multiple layers of obfuscation that ultimately don't contribute to the underlying security model...

WE THE PEOPLE ASK ASK -- WHAT IS THE VESTED AGENDA ?

WHO IS CONDUCTING THIS CONTROLLED "SWAYAMVAR " SHADI BETWEEN BHARATMATA AND KOSHER INTEL ?

WE ASK—

ARE WE DIVING OFF THE DEEP END ?

IS THIS SYSTEM TRIED AND TESTED?   WHERE IS THE PROOF?

IS THIS WHY MODI AND JAITLEY HAVE MERGED ALL INDIAN BANKS TO HOCK OUR NATIONs FINANCES AND FUTURE TO INTEL ?

http://ajitvadakayil.blogspot.in/2017/11/blockchain-bitcoins-ponzi-part-13-capt.html

WE WATCH--SOME PEOPLE WILL SOON GO TO JAIL FOR OFFENCES A MILLION TIMES WORSE WORSE THAN THE ENRON SCAM.

PUT THIS CRITICAL COMMENT IN THE WEBSITE OF ARUN JAITLEY, SBI CHAIRMAN , FINANCE MINISTRY, PMO, PM MODI, CJI, LAW MINISTER, HOME MINISTER, SWAMY , GURUMURTHY

capt ajit vadakayil
..




SBI is constrained to use Intel hardware like SGX to execute code in a protected area that can't be inspected or tampered with.

Intel came up with a consensus algorithm which may find its way to cryptocurrency at some point in the future. This concept is known as Proof of Elapsed Time 

Intel is exploring this distributed consensus model as part of their Sawtooth project.

Hyperledger Sawtooth is an enterprise distributed ledger (aka blockchain) project. 

In Sawtooth, the data model and transaction language are implemented in a transaction family.

Consensus is the process of building agreement among a group of mutually distrusting participants. There are many different algorithms for building consensus based on requirements related to performance, scalability, consistency, threat model, and failure model.

Consensus is the validation mechanism that a blockchain network uses . These are the validation rules by which the network automatically validates a transaction . Consensus is required to maintain the world state of the blockchain network.

While deciding which Blockchain platform to choose it is important to understand the consensus mechanism that it deploys because the underlying philosophy and risk to business depends a lot on the chosen consensus mechanism.

The Proof of Elapsed Time consensus protocol is what is used by Intel Sawtooth now IntelLedger (under Linux Hyperledger Foundation) .

This consensus algorithm has vouched for a random leader election methodology. The leader can be any of the participating active nodes. The chosen leader finalizes the block .

The system  ensures that the leader is chosen without manipulation and all participating notes verify the same and also deploy random leader distribution method. 

Intel SGX is a set of CPU code instructions from Intel that allows user-level code to allocate private regions of memory, called enclaves, that are protected from processes running at higher privilege levels.

Intel designed SGX to be useful for implementing secure remote computation, secure browsing, and digital rights management (DRM). 

PoET uses Intel special processor capability to regulate block frequency rather than computation

Sawtooth abstracts the core concepts of consensus and isolates consensus from transaction semantics.  The interface supports plugging in various consensus implementations. Sawtooth provides two such implementations: dev_mode and PoET.

Dev_mode is a simplified random leader algorithm that is useful for developers and test networks that require only crash fault tolerance.

PoET, short for “Proof of Elapsed Time” is a Nakamoto-style consensus algorithm. It is designed to be a production-grade protocol capable of supporting large network populations.

PoET essentially works as follows... Every validator requests a wait time from an enclave(a trusted function). The validator with the shortest wait time for a particular transaction block is elected the leader.

Proof-of-elapsed-time (PoET), solves the computing problem of "random leader election," or selecting who will create the next block of transactions.

One function, say “CreateTimer” creates a timer for a transaction block that is guaranteed to have been created by the enclave. 

Another function, say “CheckTimer” verifies that the timer was created by the enclave and, if it has expired, creates an attestation that can be used to verify that validator did, in fact, wait the allotted time before claiming the leadership role.

The PoET leader election algorithm meets the criteria for a good lottery algorithm. It randomly distributes leadership election across the entire population of validators with distribution that is similar to what is provided by other lottery algorithms.

The probability of election is proportional to the resources contributed (in this case, resources are general purpose processors with a trusted execution environment). 

An attestation of execution provides information for verifying that the certificate was created within the enclave (and that the validator waited the allotted time).

Further, the low cost of participation increases the likelihood that the population of validators will be large, increasing the robustness of the consensus algorithm.

The Sawtooth platform is distributed in source code form with an Apache license.

The Apache License is a permissive free software license written by the Apache Software Foundation (ASF) .

Like other free software licenses, the license allows the user of the software the freedom to use the software for any purpose, to distribute it, to modify it, and to distribute modified versions of the software, under the terms of the license, without concern for royalties.

The Apache License allows you to freely use, modify, and distribute any Apache licensed product.

PoET is notably designed to be used on a certain type of computer manufactured by Intel, called trusted execution environments (TEE).

The Trusted Execution Environment (TEE) is a secure area of the main processor. It guarantees code and data loaded inside to be protected with respect to confidentiality and integrity.

The TEE as an isolated execution environment provides security features such as isolated execution, integrity of Trusted Applications along with confidentiality of their assets.  

In general terms, the TEE offers an execution space that provides a higher level of security than a rich mobile operating system open (mobile OS) and more functionality than a 'secure element' (SE).

The “Sawtooth Lake” platform, which promises to allow companies to run their own blockchain, providing a permanent digital record. 

The Sawtooth Lake platform provides two consensus protocols with different performance trade-offs. The first, called PoET for “Proof of Elapsed Time,” is a lottery protocol that builds on Trusted Execution Environments (TEEs) provided by Intel’s Software Guard Extensions (SGX) to address the needs of large populations of participants.

The second, Quorum Voting, is an adaptation of the Ripple and Stellar consensus protocols and serves to address the needs of applications that require immediate transaction finality.

PoET uses a TEE such as SGX to ensure a safe, random and robust lottery function without the specialized hardware and high power required by most proof algorithms.

Intel’s approach is based on a guaranteed wait time provided through the TEE. According to Intel, the algorithm scales to thousands of participants and will run efficiently on any Intel processor that supports SGX. 

Algorithms for achieving consensus with arbitrary faults generally require some form of voting among a known set of participants. Two general approaches have been proposed.

The first, often referred to as “Nakamoto consensus”, elects a leader through some form of “lottery”. The leader then proposes a block that can be added to a chain of previously committed blocks. In Bitcoin, the first participant to successfully solve a cryptographic puzzle wins the leader-election lottery.

The elected leader broadcasts the new block to the rest of the participants who implicitly vote to accept the block by adding the block to a chain of accepted blocks and proposing subsequent transaction blocks that build on that chain.

The second approach is based on traditional Byzantine Fault Tolerance (BFT) algorithms and uses multiple rounds of explicit votes to achieve consensus. Ripple and Stellar developed consensus protocols that extend traditional BFT for open participation.

Sawtooth Lake abstracts the core concepts of consensus, isolates consensus from transaction semantics, and provides two consensus protocols with different performance trade-offs.

The first, called PoET for “Proof of Elapsed Time”, is a lottery protocol that builds on trusted execution environments (TEEs) provided by Intel’s SGX to address the needs of large populations of participants.

The second, Quorum Voting, is an adaptation of the Ripple and Stellar consensus protocols and serves to address the needs of applications that require immediate transaction finality.

The idea of Proof of Elapsed Time  acts much like Bitcoin's Proof of Work lottery consensus, but does not require nearly as much electricity expenditure.

Participants can either enter low power mode whilst TEE is generating PoET and save on costs, or perform other functions if part of a cloud compute environment.

One potential consequence of PoET versus Bitcoin's PoW is a shift from OPEX to CAPEX as an economic deterrent to Sybil and 51% attacks on a blockchain network.

Bitcoin's miners are primarily using dedicated ASIC chips to solve the cryptographic puzzle, which are much faster and cheaper than running CPUs to perform the same task, but they burn through a lot of electricity.

This means you can reduce your initial CAPEX outlay by using cheaper ASICs, but have high OPEX electricity costs. With PoET, you have to purchase more expensive CPUs but reduce electricity OPEX costs.

Capital expenditure, or CapEx, are funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment. CapEx is often used to undertake new projects or investments by the firm.

An operating expense ( OPEX ) results from the ongoing costs a company pays to run its basic business.

Intel is the creator of the open source Hyperledger Sawtooth project, which enables blockchain usages for enterprise and other segments and is designed to run on the Intel Xeon platform.

While SGX technology is proprietary, the blockchain software that grew out of Intel’s  experiments is not, and has since been open-sourced as the Hyperledger Sawtooth code base.

SOMEBODY ASKED ME 

WHAT IS A BANANA REPUBLIC? IS INDIA A BANANA REPUBLIC?

BANANA REPUBLIC IS A DERISIVE TERM GIVEN TO A NATION WHICH IS RULED BY WHITE JEWS FROM ABROAD USING THEIR PUPPET LEADERS.

INDIA IS A BANANA REPUBLIC--EVEN 70 YEARS AFTER INDEPENDENCE

EXAMPLE ?

I WILL GIVE JUST TWO AMONG THOUSANDS

AAA) BASAVA WAS A GOD CREATED AND BACKDATED BY JEW ROTHSCHILD 

BEFORE THE WHITE INVADER CAME TO INDIA, NOBODY IN INDIA HEARD OF BASAVA.

VEERASHAIVA LINGAYATHS BURY THEIR DEAD TODAY. IF YOU GO TO THEIR BURIAL YARDS YOU CAN SEE SHIVALINGAM / NANDI / SHIVA STATUE -- WHICH IS NOT ALLOWED.

NOW THEIR FOREIGN FUNDED NGOs HAVE DRIVEN SUCH HARTED TO SANATANA DHARMA THAT THE POLIICIANS WANT TO SPLIT FROM HINDUISM.

THEY HAVE GIVEN PROPAGANDA AND PROPPED UP A FELLOW NAMED VEMANA . 

TODAY WE HAVE STAMPS OF VEMANA AND UNIVERSITIES . IN THE TEXT BOOKS OF SCHOOL CHILDREN THEY HAVE INCUDED "VEDAS OF VEMANA"

WANNA READ IT?
I ASK MY READERS --YOU MUST READ IT--   ONLY THEN YOU WILL KNOW THE MEANING OF BANANA REPUBLIC--   WHERE WERE ARE NO BETTER THAN MONKEYS HOLDING A BANANA.

SCROLL DOWN THIS POST --AND READ THE YELLOW RIBBON HIGHLIGHTED PARTS UNDER THE VEMANA STAMP.

http://ajitvadakayil.blogspot.in/2015/09/sanatana-dharma-hinduism-exhumed-and_30.html

WHAT IS ALL THIS ?

IS THIS FIT TO BE TAUGHT IN SCHOOL ?

ARE WE MAD ?

TELUGUS WENT ABROAD AS INDENTURED LABOUR ONLY BECAUSE OF A WHITE SKINNED BRITISH COLLECTOR NAMED CP BROWN-- WHO IS CONSIDERED AS A GOD IN TELUGU LAND . CP BROWN CREATED BASAVA FOLLOWERS , WHO WILL BURY THEIR DEAD. 

CP BROWN DROVE TELUGUS AS SLAVES ABROAD BY DELIBERATE FAMINE HE CREATED IN TELUGU LAND 

http://ajitvadakayil.blogspot.in/2010/04/indentured-coolie-slavery-reinvented.html

MODI RAN FASTER THAN USAIN BOLT TO INAUGURATE A STATUE OF BASAVA ON THE BANKS OF THE RIVER THAMES IN LONDON.. 

http://ajitvadakayil.blogspot.in/2015/04/cp-brown-and-yogi-vemana-capt-ajit.html


BBB ) MGR AND JAYALALITAA WERE STAUNCH HINDUS WHO WANTED TO BE CREMATED BUT BOTH WERE BURIED. MIND YOU THIS DUO WERE HEROES FOR TAMILS

MGR WAS MADE A PUPPET IN THE LAST YEARS OF HIS LIFE--HE WAS A VEGETABLE . DURING THIS PERIOD LTTE AND PRABHAKARAN BECAME CHRISTIAN .

http://ajitvadakayil.blogspot.in/2012/08/aidmk-dmk-misplaced-support-for-ltte.html

THE ENTIRE COASTAL BELT OF TAMIL NADU BECAME CHRISTIAN --AND THE MOTHER OF ALL SCAMS--THE THORIUM SCAM TOOK PLACE . 

JAYALALITHA HAD PLUS SECURITY. SHE WAS ABANDONED IN A HOSPITAL--HER LEGS WERE CUT AS YOU CAN SEE IN THE VIDEO IN THE POST BELOW (YOU CANT MORPH IT ) . 

PEOPLE IN POWER JUST PRETEND TO SLEEP .  YOU TRY WAKING THEM UP

http://ajitvadakayil.blogspot.in/2017/09/inquiry-into-death-of-cm-of-tamil-nadu.html

THIS IS JUST TWO EXAMPLES AMONG MORE THAN A THOUSAND

AMERICAN ARE QUICK TO RIDICULE CENTRAL AND SOUTH AMERICAN NATIONS AS "BANANA REPUBLICS"

IN REALITY USA IS THE GREATEST BANANA REPUBLIC

ALL THEIR PRESIDENTS HAVE BEEN PUPPETS OF JEW ROTHSCHILD .

EXCEPT FOR ONE-- ANDREW JACKSON

THE FIRST US PRESIDENT GEORGE WASHINGTON WAS AN IMPOSTER . THE REAL MAN WAS MURDERED AND HIS PLACE TAKEN BY A GERMAN JEW NAMED ADAM WEISHAUPT

http://ajitvadakayil.blogspot.in/2010/12/dirty-secrets-of-boston-tea-party-capt.html

BANANA WAS UNITED FRUIT MAAL.

http://ajitvadakayil.blogspot.in/2012/09/will-india-be-banana-republic-walmart_18.html

HOW DID WE LOSE ALL OUR HUMPED BULLS ? ( WHITE REVOLUTION ) 

HOW DID WE LOSE 90% OF OUR LAKES IN 55 YEARS FLAT ? ( GREEN REVOLUTION )

HOW DID INDIANS BECOME GUINEA PIGS FOR KOSHER EVIL PHARMA ?

http://ajitvadakayil.blogspot.in/2016/03/say-no-to-hpv-vaccination-for-indian.html

HOW DID LAKHS OF SHELL COMPANIES COME TO INDIA?


NOW WE ARE SELLING OUR FINANCIAL SYSTEM -- TO KOSHER INTEL -- BY A "PROOF OF ELAPSED TIME" BLOCKCHAIN WHICH HAS NOT BEEN TESTED .
WE HAVE GUJJU NO 2 PRAYING TO GUJJU NO1 --AND RUNNING FASTER THAN USAIN BOLT ABROAD , TO INAUGURATE EVERY GANDHI STATUE MADE BY ROTHSCHILDs AGENTS .

WE WATCH

THIS BLOGSITE WILL WRITE LEGACIES --NOT ROTHSCHILDs MEDIA OR HISTORIANS 

capt ajit vadakayil
..


BITCOIN HAS JUMPED TO 8270 USD .     



WHEN SUCH A SPIKE HAPPENS IT MEANS SOMEBODY IS LAUGHING ALL THE WAY TO THE KOSHER BANK


Tether  has issued more than 300m tokens over the past seven days. A staggering amount, to say the least. They keep issuing money  – like a central bank – at an alarming rate. There is almost $1bn USDT in circulation at this time. For a currency pegged to the US Dollar, Tether is extremely shady

Tether used to have a different name – Realcoin.

It used to be an ordinary altcoin which was rather popular among traders but could not compete with Litecoin, Namecoin and other cryptocurrencies.  Tether owners decided that rebranding will have positive impact on their business

Actually it's not that easy to explain how Tether works. If we simplify the system to the maximum possible extent we could describe Tether as a service turning USD, EUR and other fiat currencies into virtual (digital) tokens which are later send and received with the use of Bitcoin blockchain.

In other words Tether is kind of a digital tie to tangible assets of the real worlds. Technically it is not even a cryptocurrency – it is more a way for using fiat currencies like electronic currencies.

Basically Tether allows to make online transactions with tokens (which can be called a cryptocurrency too) equal to US dollars. That is a good alternative to volatile Bitcoin since USD exchange rate is much more stable  .

One Tether token (USDT) is always equal to one US dollar. This cannot be changed and it convinces us that volatility typical for electronic currencies is not a serious threat for us.

Using Tether you never have to worry about currency exchange rate – USD is the most stable currency in the world and USDT is directly bound to the USD dollar. It means that you do not have to put much funds at the risk.

By combining principles of digital and fiat currencies Tether  disturbs the balance of the global financial market.   People who earn on buying and selling online have already realized that it's possible to earn a lot with Tether.



TILL THIS BLOGSITE PENNED AT 33 PART SERIES ON SHELL COMPANIES,  LAKHS OF SHELL COMPANIES WERE BLEEDING BHARTAMATA

ALMOST EVERY SUPER RICH BIG FISH IN INDIA OPERATED SHELL COMPANIES .

IPL CRICKET TEAM OWNERS SIGNED THEIR CONTRACTS USING SHELL COMPANIES.   LALIT MODI KNOWS WHO THEY ARE


JUST WHO THE HELL IS BCCI ?   

AN NGO STARTED BY JEW ROTHSCHILD!


WHY WAS BCCI BEING MANAGED ( STILL BEING MANAGED ) BY POWERFUL POLITICIANS  ( BOTH PANDAVAS AND KAURAVAS ) AND EX-ROTHSCHILDs OPIUM DRUG RUNNING AGENTS ?

ENRON RAPED BHARATMATA.

THERE WAS NOBODY IN INDIA SMART ENOUGH TO POINT OUT THE ELEPHANT IN THE ROOM




ENRONs REBECCA MARKS CAME IN MINI SKIRT AND FLASHED HER PUSSY AT INDIAN MEN WHO MATTER


Nobeatingroundthebush
May 28, 2017 at 12:50 PM

Rebecca Mark the high profile sexy high flying Globe-trotting in stiletto heels and a miniskirt Enron top executive who zoomed up the corporate ladder in a jiffy and who met Bal Thackeray at his home when Enron India was being set up.....

IS NOW MANAGING HER CATTLE RANCH IN TAOS New Mexico of course with millions of dollars in the bank...


Capt. Ajit Vadakayil
May 28, 2017 at 1:37 PM

http://archive.indianexpress.com/Picture-Gallery/1878/21/1

OH YES

I KNOW WHICH ALL INDIANS REBECCA BABY MET --I HAVE KEPT TRACK

SOME IN PUBLIC-- SOME IN SECRET WITH EXTRA SHORT MINI SKIRT

http://www.daijiworld.com/news/newsDisplay.aspx?newsID=239389

SHE WON THE DHABOL DEAL BY ALLOWING INDIAN LEADERS TO SEE HER MICRO THONGS --SHARON STONE STYLE

https://www.xvideos.com/video158458/sharon_stone_pussy_shots

Rebecca Mark's name is NEVER uttered in the list of Enron's main miscreants. Her disappearing act is even more remarkable given the size and scope of the failed ENRON

She was too young and inexperienced to hold such a high post. She was a farmer's daughter who worked her ass off in the fields

When she worked at Houston Natural Gas --she was known to do a Monika Lewinsky to her boss JEW John Wing--who treated her like dirt

One prominent (female) stock analyst said " Rebecca got to the top on her back."

At a party to celebrate the bagging of ENRON project at Dhabol she brought a elephant into a resort outside Houston --at the same party, she was dressed in leather-and then she rode in on the back of a Harley-Davidson

I HAD MET AN ENRON EMPLOYEE IN USA WHO TOLD ME HOW SHE "CHARMED" SOME INDIANS TO GET THE DHABOL PROJECT --I KNOW THOSE BASTARDS WHO WANTED TO SEE HER IN A SARI.

WORLD BANK KNOWING THAT PUSSY POWER WAS HAPPENING AT DHABOL--REFUSED TO FINANCE THE ENRON PROJECT

By early December 1993, Mark had all the signatures she needed. The Indian government signed a contract requiring it to pay Enron about $1.3 billion per year, or about $26 billion over the life of the 20-year contract. It was, THE of the largest civilian or military contracts ever signed, anywhere on the globe --in a jiffy

Over the life of the contract, India would pay Enron and its partners nearly nine times what Dabhol had cost.

Furthermore, India was required to pay for any cost increases caused by price hikes associated with the plant's fuel, electricity transmission lines or plant maintenance.

The final insult of the contract was a stipulation that required India to pay Enron in American dollars, even though the Indian rupee was undergoing regular depreciation.

SOME DESH BHAKT INDIANS OBJECTED .

On August 26, 1993, Rebecca baby faxed a signed letter to CM of Maharashtra Sharad Pawar, complaining about an Indian named MISTER BEG and demanding that contract be signed

She was twice named as one of the 50 most powerful businesswomen in America by Fortune magazine –using PUSSY power

She used her femininity and no-nonsense manner first to disarm the men she dealt with, then bulldoze through any resistance that remained. She was a devastating success.


Rebecca baby using PUSSY power had negotiated a WIN -LOSE contract.

Between 1996 and 1998, in just two years her total compensation was more than 28 million USD -more than any other Enron employee during that time-- a huge amount of money those days

By 1998, she was named vice chairman of the Enron board and held voting power on more stock than anyone else on the board except for Robert Belfer, Lay and Skilling.

I HAVE SEEN SUCH WOMEN- I KNOW HOW THEY OPERATE USING SHARON STONE TACTICS

capt ajit vadakayil
..



Capt. Ajit Vadakayil
May 28, 2017 at 2:24 PM

http://postcard.news/dhobal-case-congress-government-hire-pakistani-lawyer-fight-india/

WE INDIANS WANT THE ENRON BRIBERY CASE TO BE OPENED UP

EVERYBODY IN ENRON KNOWS WHICH BIG FISH INDIAN POLITICIAN WAS BRIBED !!

Capt ajit vadakayil

..




WAR IS PEACE

WHITE IS BLACK

SUNRISE IS SUNSET 

WOLF IS SHEEP


FOUR LEGS GOOD, TWO LEGS BAD 

https://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-to-use-blockchain-for-smart-contracts-and-kyc-by-next-month/articleshow/61715860.cms

Like I said , Chipmaker Intel has come up with its own alternative consensus protocol called proof of elapsed time. This system works similarly to proof of work, but consumes far less electricity.

Further, instead of having participants solve a cryptographic puzzle, the algorithm uses a trusted execution environment (TEE) – such as SGX – to ensure blocks get produced in a random lottery fashion, but without the required work.

Intel’s approach is based on a guaranteed wait time provided through the TEE. According to Intel, the poof-of-elapsed-time algorithm scales to thousands of nodes and will run efficiently on any Intel processor that supports SGX. This is NOT tested and there is NO proof available.

INTEL TELLS INDIA- TRUST US.

YES WE TRUSTED THE WHITE JEW ROTHSCHILD BEFORE—

WE KNOW WHAT HAPPENED WITH ROTHSCHILD WHO CAME AS A SPICE TRADER AND THEN TOOK OVER INDIA

I ASK MODI AND JAITLEY—

WHY ARE YOU PUTTING TRUST IN KOSHER INTEL ?
IMPORTANT QUESTION::   WHAT IS THE PURPOSE OF BLOCKCHAIN,   IF YOU CAN WRAP YOUR FEEBLE KOSHER INFESTED / INFECTED MINDS AROUND IT ?

IS IT NOT TO GET AWAY FROM “SHEEP TRUSTING THE WOLF” SCENARIO ?

MODI AND JAITLEY AND YOUR SBI CHAIRMAN SIDEKICK —  WHAT IS YOUR AGENDA ?   DO YOU UNDERSTAND BASICS?

WHAT IS THE TEARING HURRY ?

BATAAO NAH ?

PLEAJJJJE ? KINDLY !

WE THE PEOPLE KNOW WHEN TO PUT OUR RULERS IN JAIL — THOSE DAYS OF POLITICAL IMMUNITY AFFORDED BY POWERFUL JEWS FROM ABROAD ARE LONG GONE.


http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

###################

PUT THIS COMMENT IN THE WEBSITES OF---

PMO

PM MODI

FINANCE MINISTRY

ARUN JAITLEY

SWAMY

GURUMURTHY

CJI

LAW MINISTER

I&B MINISTRY

EDUCATION MINISTRY

DEFENCE MINISTER

YOGI ADITYANATH

SUPREME COURT BAR COUNCIL

MEA

SPREAD ON SOCIAL MEDIA

Capt ajit vadakyil
..

Sawtooth Lake features an EXPERIMENTAL ( HULLO ARUN JAITLEY  ???   IS INDIA A GUINEA PIG ??? )  experimental consensus algorithm called Proof of Elapsed Time (PoET) that relies on trusted computing to deliver a more efficient consensus. 

Trusted execution environments (TEE), such as Intel Software Guard Extensions (SGX) included on recent Intel processors support the PoET algorithm, which scales to support thousands of participants. 

Intel has since contributed the Sawtooth Lake code to the open source Hyperledger project, where it can be downloaded and appraised without need for SGX hardware. 

However, being a simulation this is not a secure implementation but it provides one way of exploring an area of technology




AVK
November 21, 2017 at 12:19 PM

There have been many effect of Respected Captain - IPS Roopa getting presidential police award.. _/\_ Captain!

#######################

TODAY CAPT AJIT VADAKAYIL WILL HAVE AN EXTRA BEER

MY 12 PART SERIES ON POLICE REFORMS IS JUST 40% -- I STOPPED IT THINKING OUR ROTTEN SYSTEM WILL NEVER IMPROVE

I KNOW HOW THE MANNARGUDI MAFIA CONTROLLED TAMIL NADU POLICE/ JUDICIARY/ POLITICIANS/ IAS BABUS ETC. I HAVE PERSONAL EXPERIENCE..

ROOPA HAS BALLS !

http://ajitvadakayil.blogspot.in/2017/07/police-reforms-in-india-much-more-with.html

WE CONGRATULATE ROOPA

PUT THIS COMMENT IN HER WEBSITE , AND ALSO PMO, PM MODI, HOME MINISTER , LAW MINISTER, CJI.

capt ajit vadakayil
..


Bitcoin hit an all high of  $US8270 for the first time yesterday .  This is similar to the dotcom bubble and  Dutch tulip mania of the 17th century. After a more than 700 per cent increase in value since the start of the year, bitcoin’s market capitalisation — the price multiplied by the number of bitcoins in circulation — now sits at more than $US137 billion

The market capitalisation of all cryptocurrencies, including Ethereum, Ripple and Bitcoin Cash — a “fork” of the main bitcoin line — is now more than $US243 billion.

Bitcoin is rising faster than any asset class we have seen over the last 400 years
According to Katsunori Sago, the chief investment officer at Japan Post Bank,  the fair value of bitcoin should be around $US100 — nearly 99 per cent below its current level

Tether, the issuer of currency-pegged tokens USDT, announced a hack that happened on November 19, 2017, when more than $30 million's worth of USDT was withdrawn to an unauthorized address and hence lost.

The company announced that:--

" $30,950,010 USDT was removed from the Tether Treasury wallet on November 19, 2017 and sent to an unauthorized bitcoin address. As Tether is the issuer of the USDT managed asset, we will not redeem any of the stolen tokens, and we are in the process of attempting token recovery to prevent them from entering the broader ecosystem."

"The attacker is holding funds in the following address: --16tg2RJuEPtZooy18Wxn2me2RhUdC94N7r. If you receive any USDT tokens from the above address, or from any downstream address that receives these tokens, do not accept them, as they have been flagged and will not be redeemable by Tether for USD."

In essence, the hack has destroyed one of the larger USDT liquidity injections that happened in November and that some users link to a disproportionate rise in Bitcoin's price.

After the announcement, crypto assets lost the recent heights, with Bitcoin crashing from above $8,200 to $7,700.

Three days ago, experts noticed a strange move of Tethers to an address not belonging to Bitfinex or any known exchange on the Rich List. It turns out to be the hacker's address

Tether will offer new software builds that will freeze the funds and not allow them to be moved and exchanged. In the past day, users reported frozen wallets, and the freeze may continue, putting several exchanges and digital assets under stress.

CAPT AJIT VADAKAYIL HAD PREDICTED THIS TWO DAYS AGO , RIGHT ? 

IT IS ON RECORD IN THIS SERIES.

WHAT CAN YOU EXPECT FROM OUR PEA BRAINED CHOOTIYA INDIAN MAIN STREAM BENAMI MEDIA?

VVIP RACISM—POT HOLES—BOLLYWOOD—CRICKET— NONEXISTANT RAPE IN INDIA—INTOLERANCE BY HINDUS DUBBED AS FRINGE IN OUR OWN LAND –

YES—  WE KNOW WHY MODI CHOSE THAT BOLLYWOOD STARLET SMRITI IRANI  AS INDIAs I&B MINISTER

--HER JOB IS TO GIVE HER BOSS MODI A FAALTHU  EGO MASSAGE GHADI GHADI 



CAPT AJIT VADAKAYIL DECLARES-- 


EVERY HACK OF CRYPTO CURRENCY IS AN INSIDE JOB 


Out of an estimated 1.6 billion USD invested in ICOs MORE than 200 million ended up in the hands of criminals --almost all are INSIDE jobs .

Some of these heists have been considerable.   The DAO, for example, was famously hacked and saw 55 million siphoned off by cyber-criminals.

Omni Core is used by Tether integrators to support Omni layer transactions. Through the software, Tether has the authority to prevent the movement of stolen coins from the hacker’s address.

Such level of centralization exposes Tether of fund and network manipulation, considering that with pressure from the law enforcement, the Tether development team is able to prevent funds from moving the across the network and disable certain addresses indefinitely.  

Public blockchain networks such as bitcoin are valuable because of their security value. Their immutable, decentralized, and unalterable nature eliminates the possibility of government interference, creating independent economies and protocols that operate by strict network rules.


The fact that addresses and funds within the Tether network can be easily altered and manipulated by a small group of network operators presents a dangerous vulnerability as a blockchain network, and also raises a question on the necessity of blockchain technology, considering that it is difficult to consider or justify Tether as a decentralized and public blockchain network.



Tether is not exactly a big player in the cryptocurrency scene, like bitcoin or Ethereum are.   It’s only supposed to act as a proxy for national currencies such as the dollar, euro and yen, for tasks such as settling balances between exchanges. 

It uses blockchain technology, but claims to avoid bitcoin’s volatility through its currency pegs.


Kraken is a US based the world's largest bitcoin exchange in euro volume and liquidity 

In the past few weeks Tether has been  providing unaudited, artificial liquidity to the Bitcoin markets and inflating the price. 

Kraken, one of the main USDT markets for moving to fiat, has moved USDT offline, waiting for an upgrade to correct the tether theft.


Tether and Bitfinex must come under scrutiny for a form of hidden asset price manipulation.


One of the partners that uses Tether is crypto exchange Bitfinex, which itself lost 119,756 bitcoin — then worth $72 million but valued at over $950 million today — in a hack in Aug 2016  This was stolen from the exchange platform Bitfinex in Hong Kong..

The bitcoin was stolen from users’ segregated wallets..

The security breach came two months after Bitfinex was ordered to pay a $75,000 fine by the U.S. Commodity and Futures Trading Commission in part for offering illegal off-exchange financed commodity transactions in bitcoin and other digital currencies.

Bitfinex had announced a tie-up with Palo Alto-based BitGo, which uses multiple-signature security to store user deposits online, allowing for faster withdrawals. 

The scandal highlighted the risks of companies using cryptography for their ledgers.. The more you rely on its benefits, the greater the potential for damage when keys are stolen 

It is SURE that the theft was an inside job –as it is difficult for hacckers togain access to the system externally. 

Yesterday’s hack ( 31 million USD )  is sure to throw up more questions about the relationship between Tether and the secretive exchange Bitfinex..

The duo are rumored to share owners, and have been accused of leaning on each other to manipulate the market.

Any idiot can figure out that this is an INSIDE JOB

Tether, with a market capitalization of $675 million, is the world’s 20th most-valuable virtual currency

Skepticism had already been building after the company behind the tokens said in April that all international wires had been blocked by its Taiwanese banks. That fueled questions about whether the tokens were fully backed back fiat currencies. 

Tether’s users are unlikely to abandon it as long as it is supported by exchanges and no other credible pegged token appears


Devasini Giancarlo CFO at Bitfinex and Director at Tether was listed in the Paradise Papers.

Below: WHO THE FUCK IS APPLEBY ?



Tether and Bitfinex have insisted that the 2 operations are separate. 

But leaked paperwork called the Paradise Papers, which had been made public this month, present that Appleby, an offshore legislation agency, helped  Potter and Mr. Devasini, the Bitfinex operators, arrange Tether within the British Virgin Islands in late 2014. 

The operations of law firm Appleby are under the spotlight after millions of its documents were disclosed in the Paradise Papers leak.   

Appleby is one of the handful of major international "offshore legal service providers". Its business is to help clients, be they financial institutions, global corporations or high-net-worth individuals, to set up and register companies and trusts in overseas jurisdictions with low or zero tax rates and high financial confidentiality.

It's the kind of work which, inevitably, can lead to contact with KOSHER CLIENTS who have chequered backgrounds, controversial reputations or opaque motives.
Appleby was named offshore firm of the year by Legal 500 UK in 2015. Such reputations are hard won. 

The first Appleby practice was established in Bermuda by Rothschild’s agent Major Reginald Appleby in 1890.. 

By 1903 he was a justice of the peace when he sat on the marine court of inquiry to take care of British East India Company ( owned by Jew Rothschild ) shipping matters .. 

Appleby was made a Commander of the Order of the British Empire by Rothschild.

Though the 119-year-old Appleby is not a tax adviser, it is a member of a global network that sets up offshore companies for clients eager to avoid taxes or keep their finances hidden. 

Since expanding outside Bermuda in 1979, Appleby has transformed itself into a global institution with more than 700 employees across nearly every major tax haven from the Cayman Islands, to the Isle of Man, Mauritius and Hong Kong.

Appleby's corporate clients include Barclays Group, Citibank, Credit Suisse, Goldman Sachs, HSBC Bank, ­JPMorgan Chase, KPMG, ­Lloyds Banking Group, PwC, Royal Bank of Scotland Group, Santander UK and Standard Chartered—and several Rothshild’s agents

 Today, Appleby makes millions  and is a key player in what insiders call the "offshore magic circle" — an informal collection of the world’s biggest offshore law firms. Anybody who treads on their toes is sued to eternity 

Appleby’s internal records reveal a preoccupation with secrecy that pervades tax havens. For this reason, governments around the world are targeting the law firms that operate in tax havens, to force them to reveal the hidden transactions that deprive public coffers of trillions of dollars each year.

Unlike last year’s Panama Papers leak, which exposed Panamanian law firm Mossack Fonseca, a firm that has been criticized as a bad apple in the offshore world, the Paradise Papers leak reveals the business of one of the world’s most prestigious blue-chip law firms, Appleby, which caters to the world’s biggest multinational corporations and the wealthiest families on the planet.

Documents found in the 6.8 million internal Appleby files in the leak show the firm was aware of multiple cases where it accepted dirty money. Appleby is already publicly associated with the Bermuda Longtail Trust, one of the biggest tax scams in recent Canadian history. 

The scam, originally revealed by a Star investigation in 2007, duped almost 10,000 people, including nurses, teachers and at least one police officer, into making donations to bogus charities in order to receive a tax receipt worth four times more. 

Appleby administered the trust for Canadian businessman Edward Furtak. The trust had collected more than $100 million by the time the Canada Revenue Agency (CRA) got wise to the scheme, and a group of clients sued. Appleby settled the class action for $17.5 million last summer

The Sun Group, Jindal Steel, Apollo Tyres, Havells, Hindujas, Emaar MGF, Videocon, Amitabh Bachchan  and the Hiranandani Group are among the major firms on the Paradise papers list. 

At least 714 Indians are named in documents leaked from two financial companies – Bermuda’s Appleby and Singapore’s Asiaciti – that help the rich and the powerful move their money abroad and invest it in 19 tax havens. 

The information was released by United States-based International Consortium of Investigative Journalists. Nand Lal Khemka’s Sun Group, Appleby’s second-largest client with 118 different offshore entities, was also mentioned in the list.. 

Several prominent companies under the scanner of the Central Bureau of Investigation and the Enforcement Directorate are listed as Appleby’s clients. 

These include firms named in the Sun-TV-Aircel-Maxis case, the Essar-Loop 2G case, the Rajasthan ambulance scam that is currently being investigated by the CBI. The investigating agency had named a company called Ziquista Healthcare, where Sachin Pilot and Karti Chidambaram were early honorary and independent directors.

Among the individuals named in the leak are actor Amitabh Bachchan, Union minister Jayant Sinha, Bharatiya Janata Party’s Rajya Sabha MP RK Sinha, and corporate lobbyist Niira Radia. Jayant Sinha’s name figures in the list because of his former role within the Omidyar Network.

This cache of documents were obtained by German newspaper Süddeutsche Zeitung. Most of the papers scrutinised are from Appleby which helps its clients set up offshore companies and manage their bank accounts to help them either avoid or evade taxes, manage their real estate properties, open escrow accounts, or move millions across the globe..

These days, no exchange is bigger than Bitfinex, an opaque operation that provides no information on its website about where it is or who operates the company. 

Bitfinex, which is officially incorporated in the British Virgin Islands, has been fined by regulators in the United States and cut off by American banks, and it has lost millions of dollars of customer money in two separate hackings, leading critics to question whether it even has the money it claims to hold.

The chief executive of Bitfinex and Tether is the same man- Jan Ludovicus van der Veld

The liquid nature of the Bitcoin markets, flowing round nationwide borders and legal guidelines, is a product of the digital forex’s uncommon construction. Bitcoin is saved and moved by means of a decentralized community of computer systems that aren’t underneath the management of any single firm or authorities. 

This construction signifies that the digital forex continues to be a straightforward goal for individuals who need to manipulate its worth or use it to launder cash.
Unregulated, unregistered exchanges are a very big concern for the industry and the community broadly.. 

The most frequent face of Bitfinex is its chief technique officer, Phil Potter..  Potter,runs Bitfinex alongside Mr. Van der Velde, a Dutch-speaking man dwelling in Hong Kong, and Giancarlo Devasini, an Italian man who lives on the French Riviera, in accordance with firm filings in Hong Kong.

Before the 31 million hack two days ago, the firm misplaced 1,500 Bitcoin, value round $400,000, to a hacker in 2015. But probably the most damaging incident occurred in August 2016 when a thief obtained nearly 120,000 Bitcoin, value round $75 million on the time.  

All three are inside jobs.

The firm unfold out the losses to all clients — even those that weren’t holding Bitcoin on the time of the hacking — by forcing clients to take a 36 % haircut or loss on any cash on the change.

Wells Fargo stated this year that it will not transfer cash from Bitfinex accounts. Shortly after, Bitfinex stated its major banks in Taiwan had been shutting it off. 

Since then, it has moved between a collection of banks in different international locations, with out telling clients the place the change’s cash is saved.

Customers can purchase Tether cash on Bitfinex after which switch them to different digital forex exchanges, offering a strategy to transfer between international locations with out going by means of banks. 

In current weeks, a couple of hundred hundreds of thousands ’ value of Tether has modified fingers each day throughout a number of exchanges

Again, the core of the Paradise Papers leak, totaling more than 13.4 million documents, focuses on the Bermudan law firm Appleby, a 119-year old company founded by Jew Rothschild , that caters to blue chip corporations and very wealthy people who laundered their dirty money.

Appleby helps clients reduce their tax burden; obscure their ownership of assets like companies, private aircraft, real estate and yachts; and set up huge offshore trusts that in some cases hold billions of dollars.

The predominantly elite clients of Appleby contrast with those of Mossack Fonseca — the company whose leaked records became the Panama Papers — which appeared to be less discriminating in the business it took on. The records date back to 1950 and up to 2016.

Appleby has offices in tax havens around the world. In addition to its Bermudan headquarters, it works out of places like the British Virgin Islands and the Cayman Islands in the Caribbean; the Isle of Man, Jersey and Guernsey off Britain; Mauritius and the Seychelles in the Indian Ocean; and Hong Kong and Shanghai.

The documents come not only from Appleby, but also from the Singaporean company Asiaciti Trust and official business registries in places such as Bermuda, the Cayman Islands, Lebanon and Malta.

On 15 November 2017, the International Consortium of Investigative Journalists (ICIJ) released its first story from the half a million documents leaked from the Singapore headquarters of AsiaCiti Trust. 

AsiaCiti Trust is an international trust and corporate services provider with operations in Hong Kong, the Cook Islands, Dubai, Nevis, New Zealand, Panama and Samoa.

Both AsiaCiti and its Australian founder and Chairman Graeme Walter Briggs appear in the Panama Papers, including having shared ownership of several companies with the now-infamous offshore law firm Mossack Fonseca.

Singapore’s corporate tax rate is 17%, [rating] among the lowest in the world. In 2016 a report by Oxfam ranked Singapore as the world’s fifth worst corporate tax haven.

The report claims that these countries are creating a “race to the bottom” which undermines the entire global taxation system, through a combination of policies including ever-lower corporate tax rates and anonymity as a shelter from tax authorities in other jurisdictions.

Flows of wealth from other jurisdictions have helped to buoy Singapore’s private banking industry

Singapore and similar jurisdictions including Switzerland and the UK play a crucial role as conduits between jurisdictions where wealth originates and so-called ‘sink’ jurisdictions such as the Cayman Islands or Panama.

Conduit offshore financial centres generally have low or zero taxes imposed on the transfer of capital to other countries, either via interest payments, royalties, dividends or profit repatriation, and highly developed legal systems to help channel and disperse wealth to ‘sink’ jurisdictions.

This is exactly the pattern of behaviour which the Paradise Papers have exposed at AsiaCiti Trust, which takes in wealth from its clients in the USA, China, Switzerland, Romania, Nigeria, Thailand and South Africa and re-routes it via Singapore to corporations in Samoa, the Cook Islands and Panama

Again, Tether and Bitfinex have insisted that the two operations are separate. 

But leaked documents , Paradise Papers,  show that Appleby, an offshore law firm, helped Mr. Potter and Mr. Devasini, the Bitfinex operators, set up Tether in the British Virgin Islands in late 2014.


 Devasini baby was fined 100 million Italian lira in 1996 for selling pirated copies of Microsoft software.


Mr. Davasini and Tether chief executive officer, Ludovicus Jan Van Der Velde, are the current directors of the Tether.   Mr. Van Der Velde is also the chief executive officer of Bitfinex.

According to their terms of service Bitfinex consists of two BVI corporations, for U.S. customers: BFXNA Inc and for all other regions iFinex Inc

IFinex Inc. (BVI) operates as a financial technology company. The company owns and operates Bitfinex

Wells Fargo does NOT allow customers withdraw the money controlled by iFinex and Tether anymore

IFINEX, a BVI company, is the legal owner of Bitfinex, Tether and Blockstream, among others. One for trading, one for printing (out of thin air) USDT and one controlling Bitcoin development.

Blockstream is a blockchain technology company-- they provide funding for the development of Bitcoin Core, the predominant network client software. 

Blockstream employs several prominent bitcoin developers.  

Blockstream is one of the largest contributors of funding for Bitcoin Core-- the reference client of bitcoin. It is the reference implementation for bitcoin nodes, which form the bitcoin network. Through changes to Bitcoin Core, its developers make changes to the underlying bitcoin protocol.

Bitcoin Core includes a transaction verification engine and connects to the bitcoin network as a full node. Moreover, a cryptocurrency wallet, which can be used to transfer funds, is included by default  The wallet allows for the sending and receiving of bitcoins. 

It does not facilitate the buying or selling of bitcoin. It allows users to generate QR codes to receive payment. The software validates the entire blockchain, which includes all bitcoin transactions ever. 

Blockstream participates in Hyperledger as a general member.. The Hyperledger project is a cross-industry collaborative effort to create blockchain based open standard for distributed ledgers for globally conducted business transactions.

Bitfinex is using Tether in its margin markets for wash trading.

“I GOT BITFINEXED” WILL SOON BE A TERM FOR ”I GOT FUCKED”




The Monetary Authority of Singapore, the country’s central bank, is pressing ahead with regulation that will bring a handful of retail payment services, including bitcoin and cryptocurrency exchanges, under a single legislation. 

As regulator, the MAS will have oversight to look into money laundering and terrorism financing risks as well as ensuring safeguards for consumers’ funds.

When enacted, payment firms, as well as bitcoin exchanges, will be required to hold only one license under the new regulatory framework.

The new framework will expand the scope of regulation to include domestic money transfers, merchant acquisition and the purchase and sale of virtual currencies..

Bitfinex handles around 11% of the current Bitcoin trading volume, and at the moment.. .  Again, the Bitfinex CSO Philip Potter is also listed as the director of Tether Holdings Limited, per the recent leak in the Paradise Papers.





BitConnect is a Cryptocurrency​ that facilitates the Lending of capital through Blockchain​ Technology​. BitConnect was launched on November 15, 2016. It was released as an open source software in January 2017. 

It's a peer-to-peer Cryptocurrency​ in which transactions take place between users directly, without an intermediary. These transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain using Proof of Work(PoW) and Proof of Stake(PoS) algorithm.. 

BitConnect Coin mining differs from Bitcoin because it's mining is based on CPU/GPU, unlike Bitcoin​ which is based on ASIC miner.

The most brazen of BitConnect’s  marketing is a pyramid info-graphic depicting different percentage awards depending on the “level” of member a user is. It’s little wonder therefore that the UK have given BitConnect an ultimatum.

BitConnect (BCC) has come under scrutiny from UK authorities. The company has been threatened with closure as well as having their assets seized if they’re unable to prove that they are not a ponzi scheme. 

Failure to provide evidence of “cause to the contrary” would result in the UK Registrar of Companies forcing the closure of BitConnect.

BitConnect, was registered by a British man under the name Ken Fitzsimmons. Interestingly, the name doesn’t appear anywhere within BitConnect’s own literature leaving the community with considerable doubt about the legitimacy of the platform.

Bitconnect has been showing signs recently that its top promoters are jumping ship.


Accusations of wash trading at Bitfinex – “printing” tethers and using them to artificially bump the price of bitcoin before cashing out, sending the USD to Tether, and repeating the cycle – aren’t the only ones the exchange has been facing. 

Why doesn’t Bitfinex reveal its current banking arrangements or where its money is stored?   The company did produce a financial statement in September 2017, but it failed to prove that each tether is backed by a US dollar.

Bitfinex had a falling out with Wells Fargo, the last bank that was willing to process their transactions last year. And shortly after, they suffered the largest Bitcoin robbery since Mt Gox—in August 2016, the exchange lost 120,000 BTC to what it says was a hack. 

It didn’t help that their decision to “distribute the losses equally” amongst user accounts was met with controversy. Neither did the fact that they gave no clear explanation as to how exactly the hack happened. 

Although they were able to “pay off” users by offering them equity, the lack of transparency and refusal to submit to audit compliance did not sit well with the public.

Or maybe they do have a bank, but can’t admit it to the public because the bank they’re banking with unwittingly dealt with them through one of their shell companies.

To circumvent the banking problem, Bitfinex is likely employing Hawala banking.

Bitfinex essentially match-makes you with someone wanting to withdraw from their exchange, and you send the money directly to the other party withdrawing.

No major bank wants to partner up with Bitfinex, so they’re pumping the price of BTC in order to keep a steady flow of depositors and keep them from cashing out of the exchange. 

And while the pump part of this isn’t scary from a HODLer’s perspective—it’s the dump that is.   

HODL is used for "hold" - it's a term that was invented by a psycho who did a typo and it became famous.   Whenever people talk here about holding their coins, they would rather say "hodl your bitcoins".

The minute the prices of Bitcoin turns bearish, and the prices continuously fall, eventually people will stop catching knives, money coming in comes to a trickle, and people are wanting to withdraw and nobody wants to deposit.

So, the only choice Bitfinex has, is to relentlessly manipulate the price of Bitcoin up for as long as possible so that people always want to deposit, until they are able to re-establish a legitimate banking partner

 It has now  emerged that Bitfinex has yet another new bank. 

This time, its European home is with the obscure Bank Polskiej Spółdzielczości – also the home of CEX.io – under the name of CRYPTO SP.ZO.O. 

Why isn’t Bitfinex using its own name and why is it with a bank that ranks 15th in Poland in terms of asset value and 26th in terms of number of outlets? The director of Bank Polskiej Spółdzielczości is Molina Lee Ivan Manuel who is also the director of numerous Panamanian shell companies. 

Offshore shell companies are a recurring theme with Bitfinex; the so-called Paradise Papers, which leaked this month, show that Bitfinex’ operators used an offshore firm to help them incorporate Tether in the British Virgin Islands.

Tether itself has also been shady, marketing their tokens as “money for the internet,” yet repeatedly stating in the less conspicuous legal section of their website that Tethers are not money and that they are under no obligation to exchange users’ Tethers with actual money.


Despite shady banking, dubious use of tethers, another hack, and slow withdrawals, Bitfinex is flexing its muscles..


What Intel claims to be a Blockchain is a misnomer—it is a consensus protocol for distrusted systems….generically. 

Proof of Elapsed Time is just one of the many useful capabilities that can be built based on Intel’s Secure Guard Extensions (SGX)

PoET as used in Intel’s Sawtooth platform will probably not see mass adoption in public networks due to its dependence on Intel chips – but for SOLD OUT bastards ( to white Jews ) and IGNORANT Indian politicians--

These CUNTS don’t know that relying 100% on Intel means total CENTRALISATION ( and not 100% decentralization boasted by blockchain )

For private and consortium networks it is a viable and superior alternative to proof of work (mining). Proof of Work induced mining wastes electricity

Intel’s SGX platform would allow you to execute an instruction which says ret=elapseTime(1omins); 

Once you execute this statement, the SGX platforms will “discuss” amongst themselves and choose a single leader. The “discussion” will be according to Intel fair, reliable and secure i.e. leader selection is random and uniformly distributed such that everyone has a chance of becoming a leader. 

Now lets say, i have 8 SGX chips and you have 2 SGX chips … between ourselves i have 80% chance of becoming a leader and you have 20%. Thus essentially it becomes a race as to who owns most number of SGX chips.

Bitfinex exercises control over Tether — enough to print off millions of unbacked Tether at their whim.

Tethers are being used to purchase Bitcoin, this is artificially inflating the price of BTC, since all the new Tethers are being used to purchase Bitcoin.
Tether is a bit of an unusual cryptocurrency. Unlike most coins, it’s not aiming for moon. It’s content to stay firmly on the ground, pegged to the US dollar.

The idea is to provide a way to trade USD (with all of its stability) with all the benefits of a cryptocurrency. Basically, crypto-freedom without crypto-volatility. All new Tether are created by the Tether Company. They will create as many new Tether as someone is willing to deposit dollars into their bank accounts. 

The full amount will be stored in USD, and at any time, someone can redeem any amount of Tether back from the company for USD at a 1:1 ratio.  All the exchange did was exchange one type of unbacked IOU (the BFX token) with another (Tether)!


Tether is primarily used to buy Bitcoin back, and it does have a tremendously high volume. It has 24h volume periods cracking half a billion dollars, regularly rivaling BCH or ETH. But its aggregate value is still under $700 million. That might seem like a lot, but is less than 0.5% of Bitcoin’s whopping $140 billion market cap.

















Bitcoin uses the hashcash Proof of Work function as the Bitcoin mining core. All bitcoin miners whether CPU, GPU, FPGA or ASICs are expending their effort creating hashcash proofs-of-work which act as a vote in the blockchain evolution and validate the blockchain transaction log.

Hashcash is a proof-of-work system used to limit email spam and denial-of-service attacks, and more recently has become known for its use in bitcoin (and other cryptocurrencies) as part of the mining algorithm.

In contrast to hashcash in mail applications that relies on recipients to set manually an amount of work intended to deter malicious senders, the Bitcoin cryptocurrency network employs a different hashing-based Proof-of-work challenge to enable competitive bitcoin mining. A bitcoin miner runs a computer program that collects unconfirmed transactions from coin dealers in the network. 

With other data these can form a block and earn a payment to the miner, but a block is accepted by the network only when the miner discovers by trial and error a "nonce" number that when included in the block yields a hash with a sufficient number of leading zero bits to meet the network's difficulty target. 

Blocks accepted from miners form the bitcoin Blockchain that is a growing ledger of every bitcoin transaction since the coin's first creation.


While hashcash uses the SHA-1 hash and requires the first 20 of 160 hash bits to be zero, bitcoin's proof of work uses two successive SHA-256 hashes and originally required at least the first 32 of 256 hash bits to be zero. However the bitcoin network periodically resets the difficulty level to keep the average rate of block creation at 6 per hour. 

As of August 2017 (block #478608) the bitcoin network has responded to deployments of ever faster hashing hardware by miners by hardening the requirement to first 72 of 256 hash bits must be zero.



RECAPITULATION:

Proof of work is a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order to create a new group of trustless transactions (the so-called block) on a distributed ledger called blockchain.

Mining serves as two purposes:---

To verify the legitimacy of a transaction, or avoiding the so-called double-spending;

To create new digital currencies by rewarding miners for performing the previous task.

When you want to set a transaction this is what happens behind the scenes:

Transactions are bundled together into what we call a block;

Miners verify that transactions within each block are legitimate;

To do so, miners should solve a mathematical puzzle known as proof-of-work problem;

A reward is given to the first miner who solves each blocks problem;

Verified transactions are stored in the public blockchain

This “mathematical puzzle” has a key feature: asymmetry. The work, in fact, must be moderately hard on the requester side but easy to check for the network.

All the network miners compete to be the first to find a solution for the mathematical problem that concerns the candidate block, a problem that cannot be solved in other ways than through brute force so that essentially requires a huge number of attempts.

When a miner finally finds the right solution, he announces it to the whole network at the same time, receiving a cryptocurrency prize (the reward) provided by the protocol.

From a technical point of view, mining process is an operation of inverse hashing: it determines a number (nonce), so the cryptographic hash algorithm of block data results in less than a given threshold.

This threshold, called difficulty, is what determines the competitive nature of mining: more computing power is added to the network, the higher this parameter increases, increasing also the average number of calculations needed to create a new block.

This method also increases the cost of the block creation, pushing miners to improve the efficiency of their mining systems to maintain a positive economic balance. This parameter update should occur approximately every 14 days, and a new block is generated every 10 minutes.

Proof of work is not only used by the bitcoin blockchain but also by ethereum and many other blockchains.

Proof of stake is a different way to validate transactions based and achieve the distributed consensus.

It is still an algorithm, and the purpose is the same of the proof of work, but the process to reach the goal is quite different.

Unlike the proof-of-Work, where the algorithm rewards miners who solve mathematical problems with the goal of validating transactions and creating new blocks, with the proof of stake, the creator of a new block is chosen in a deterministic way, depending on its wealth, also defined as stake.

No block reward

Also, all the digital currencies are previously created in the beginning, and their number never changes.

This means that in the PoS system there is no block reward, so, the miners take the transaction fees.

This is why, in fact, in this PoS system miners are called forgers, instead.
Ethereum community wants to exploit the proof of stake method for a more greener and cheaper distributed form of consensus.

Also, rewards for the creation of a new block are different: with Proof-of-Work, the miner may potentially own none of the digital currency he is mining.

In Proof-of-Stake, forgers are always those who own the coins minted.

If Casper (the new proof of stake consensus protocol) will be implemented, there will exist a validator pool. Users can join this pool to be selected as the forger. This process will be available through a function of calling the Casper contract and sending Ether – or the coin who powers the Ethereum network – together with it.

Using a Proof-of-Work system, bad actors are cut out thanks to technological and economic disincentives.

In fact, programming an attack to a PoW network is very expensive, and you would need more money than you can be able to steal.

Instead, the underlying PoS algorithm must be as bulletproof as possible because, without especially penalties, a proof of stake-based network could be cheaper to attack.

To solve this issue, Buterin created the Casper protocol, designing an algorithm that can use the set some circumstances under which a bad validator might lose their deposit.

He explained: “Economic finality is accomplished in Casper by requiring validators to submit deposits to participate, and taking away their deposits if the protocol determines that they acted in some way that violates some set of rules (‘slashing conditions’).”

Slashing conditions refer to the circumstances above or laws that a user is not supposed to break.

Thanks to a PoS system validators do not have to use their computing power because the only factors that influence their chances are the total number of their own coins and current complexity of the network.

So this possible future switch from PoW to PoS may provide the following benefits:---

Energy savings;

A safer network as attacks become more expensive: if a hacker would like to buy 51% of the total number of coins, the market reacts by fast price appreciation.

This way, CASPER will be a security deposit protocol that relies on an economic consensus system. Nodes (or the validators) must pay a security deposit in order to be part of the consensus thanks to the new blocks creation. Casper protocol will determine the specific amount of rewards received by the validators thanks to its control over security deposits.

If one validator creates an “invalid” block, his security deposit will be deleted, as well as his privilege to be part of the network consensus.

In other words, the Casper security system is based on something like bets. In a PoS-based system, bets are the transactions that, according to the consensus rules, will reward their validator with a money prize together with each chain that the validator has bet on.


So, Casper is based on the idea that validators will bet according to the others’ bets and leave positive feedbacks that are able accelerates consensus.


Hyperledger Sawtooth, developed by Intel offers a modular blockchain architecture. It consists of Proof of Elapsed Time (PoET), a consensus algorithm developed by Intel for high efficiency among distributed ledgers.

Sawtooth employs an EXPERIMENTAL  consensus algorithm -- Proof of Elapsed Time, or PoET. 

It’s a form of random leader election, wherein each validator node waits a random amount of time before trying to claim a block.

In other random leader election algorithms like Proof of Work, that randomness is enforced by searching for partial hash collisions. PoET replaces that work with trusted computing. The benefit of this is a more economical and greener algorithm (as compared to ASIC mining rigs). 

Rather than chips churning on hash functions, the trusted computing functions allow each node to get on with other work until its timer expires, putting computing cycles into useful operations without wasted electricity. 

PoET is a return to the Satoshi intent of “one-CPU-one-vote”. In its original form PoET exists near the unpermissioned end of the policy spectrum. 

Any host that can provide certain cryptographic proofs about the correctness of its execution can publish a block. The sawtooth-core maintainers have begun adding scaffolding to support the more direct authorization models that consortia may require. 

The first policies in this new framework include basic requirements of a validator such that it is running the correct version of the consensus algorithm and that it has a verifiably unique identity on the network (an anti-sybil feature of PoET). 

The network itself validates authorization of each node as it joins the system. Once validated, those nodes and their authorization data are committed to a table on the ledger, called the Validator Registry. 

Building on these new features, participants in a network can define arbitrarily elaborate (or simple) authorization policies. This authorization framework then lets the underlying PoET consensus algorithm be utilized across a wide swath of the public to private ledger spectrum.

While Ethereum is a public Blockchain, Hyperledger is a private blockchain. This means enterprises within the network know who is present on the peer nodes, unlike Ethereum.

Hyperledger is a permissioned network i.e., it has the ability to grant permission on who can participate in the consensus mechanism of the Blockchain network. Ethereum, on the other hand, is permissionless.

Hyperledger has no built-in cryptocurrency. Ethereum, on the other hand, has a built-in cryptocurrency, called Ether. Many applications don’t need a cryptocurrency to function, and using Ethereum there can be a disadvantage.

Hyperledger gives you the flexibility of choosing a programming language such as Java or Go, for preparing smart contracts. Ethereum, on the other hand, uses Solidity which is a lot less common in use.


Hyperledger is highly scalable — unlike traditional Blockchain and Ethereum — with minimal performance losses.


BITCOIN JUMPS FROM 738 USD TO 8315 USD IN ONE YEAR FLAT 


ALL THOSE WHO SAYS , THIS IS NOT A BUBBLE


RAISE YOUR HANDS


GOOD !



At its core, blockchain is a public ledger technology that uses cryptography to provide an authoritative record of secure transactions. The technology is deemed disruptive in that it eliminates centralization, which uses a trusted third party. 

A trusted third party is a middle man facilitating a transaction between two parties. This centralized architecture underlies the brunt of transactions today.

Trusted third parties like banks and payment providers, dominate the financial services industry.

Blockchain threatens to disrupt this model.

BUT HEY ----ARUN JAITLEY AND SBI CHAIRMAN WANTS TO TRUST INTEL 100% WITH A NEW BLOCKCHAIN SYSTEM , FOR WHICH INDIANS WILL BE USED AS GUINEA PIGS-  

THEY MERGED ALL INDIAN BANKS FOR THIS FINAL BRUTUS TYPE THRUST 

THIS HAS BEEN THE STORY OF OUR LIFE IN INDIA EVER SINCE ROTHSCHILD TOOK OVER INDIA  , RIGHT?

Blockchain  technology leverages mathematics (digital signatures, cryptographic hashing, and consensus mechanisms) to enable untrusted parties to transact directly in a secure manner, without having to deal with a middle man. 

This type of transaction is known as trustless trust, and it is paving the way for a radical transformation of established industries, notably in the financial services sector. In addition, blockchain technology could impact emerging markets, such as those forming around the Internet of Things (IoT).

The origin story of blockchain is in Bitcoin, and the associated terminology is best understood from this source. Blockchain is, therefore, a type of distributed ledger technology, but not all distributed ledgers are effectively blockchains. 

The purpose of a consensus algorithm in a public Blockchain network is to make sure that the network’s participants agree on the current state of the Blockchain without the need to trust each other or to have a central authority.

It all started with Proof of Work

The use of Proof of Work mining was initially proposed to establish that a given block had required a certain amount of work to be mined. This allowed users to simply pick the longest valid chain with the highest amount of work as the correct chain.

However, Proof of Work is extremely inefficient in terms of energy consumption. 

This makes it expensive and incentivizes miners to centralize the hashing power. 

So, instead of pushing us towards a truly distributed network, these concentrated mining farms have become de facto authorities.

Another alternative was needed.

The focus switched to Proof of Stake

A Proof of Stake algorithm has nothing to do with mining. Instead, it is about validating. The specific actor responsible for the next block in the chain is determined by the Proof of Stake algorithm. 

In order to avoid overly concentrating this power, the algorithm must have some kind of randomness. At the least, voting shares must be distributed properly to avoid morphing into a centralized system.

Without going into details about its advantages over Proof of Work, Proof of Stake eliminates the need to spend a huge amount of electric power to validate the blocks. 

Instead, blockchain participants with the most stake in it are selected by algorithm for the right to validate the blocks. The assumption behind Proof of Stake is the following: those who hold a stake in a network are incentivized to act in its interests. All else equal, the more stake one has, the higher should be his or her interest in preserving the system.

In a Proof of Stake system, each validator must own some stake in the network. These stakes are bonded, which means that network participants deposit some money into the network using it as a collateral to vouch for a block.

In a Proof of Work network, everyone accepts the chain as valid because a significant amount of effort has been employed. Meanwhile, in a Proof of Stake network participants trust the chain with the highest collateral.

Within the cryptocurrency world Proof of Work remains the most widely adopted consensus algorithm. However, a few prominent projects including NXT, BitShares and Ethereum use or are migrating to Proof of Stake.

Even within the Bitcoin community, some members are considering trying to change the digital currency’s Proof of Work consensus mechanism to address scaling issues and improve the network’s operation.

While Proof of Stake might have certain advantages, it is not a panacea. The problem is that there is no guarantee that the validator with the highest collateral deposited for a block is going to operate the network in its best interests.

Proof of Stake coins are plagued with issues because rational people tend to act in their own self-interest. PoS works only because the best interests of the largest stakeholders usually do align with those of the network. In the case of a disagreement, however, the largest stakeholder might assume the role of the supreme commander

The distributed Proof of Stake algorithm was created to solve problems with the earlier Proof of Work algorithms. To make it work the decisions are weighted based on multiple factors.

First and foremost, the size of the stake and the interests of a validator are taken into account. Secondly, it is important to check when their decision last became the primary decision agreed upon by the network’s participants. Finally, it needs to be considered whether the outcome of this decision met with approval by the majority of the network participants.

The Ethereum platform has a difference with the Bitcoin blockchain .   It includes a Turing-complete programming framework that enables users to create contracts that are more complex than the simple transactions allowed by Bitcoin. 

Ethereum is essentially a public blockchain-based distributed computing platform that includes a programming language (Solidity), a runtime environment (Ethereum Virtual Machine), a cryptocurrency (Ether), and APIs, among other features. The general idea is that smart contracts effectively represent contractual agreements between two or more parties. 

For example, they can release funds, communicate information, record and embed data, or even make purchases; all this in a pre-programmed, self-executing, autonomous manner. Digital identities can be created for physical property and intangible assets, whose ownership and functioning can be controlled through smart contracts on the blockchain.

Moving even beyond smart contracts is the idea of software-based DAOs. They can also be created for societies and corporations. At the core, they are AI-based autonomous agents. They can be a party to a smart contract, and are best defined as a set or class of long-lasting

smart contracts. DAOs can be used to implement more complex governance structures, such as owning, exchanging, and trading resources, interacting with other parties (human and machine), and executing pre-defined tasks.

A decentralized autonomous organization (DAO), is an organization that is run through rules encoded as computer programs called smart contracts.   A DAO's financial transaction record and program rules are maintained on a blockchain. 

The best-known example was The DAO, a DAO for venture capital funding, which was launched with $150 million in crowdfunding in June 2016, implementing its smart contracts through Ethereum, and was immediately hacked and drained of US$50 million in cryptocurrency.  

This hack ( an INSIDE JOB  ) was reversed in the following weeks, and the money restored, via a hard fork of the Ethereum blockchain. This decentralized bailout was made possible by a majority vote of the blockchain's hash rate.

The DAO hack on the Ethereum blockchain in June 2016 forced stakeholders and core developers to overturn parts of the blockchain and backtrack to a previous state. 

This bitterly divided the Ethereum community and revealed that the blockchain is not truly immutable. Without going into detail about the hack, it revealed essentially that code is unable to discern intent and will function regardless, allowing both good faith and malice to guide it. 

Smart contracts are, therefore, not likely to take the form  of complex legal contracts anytime soon until issues surrounding liabilities and dispute resolution can be more effectively addressed.

However, the problem of legal applicability could eventually be resolved. Recognition and support by government and law enforcement on blockchain could provide a clearer legal status. As for The DAO hack, the issue was resolved without recourse to the judicial system, which leaves many legal questions unanswered. 

Further, the U.S. Securities and Exchange Commission (SEC) recently weighed in on The DAO hack, stating that the tokens traded in the Initial Coin Offering were effectively securities. While the SEC did not leverage any penalties, the published decision aims to direct future ICOs in the space and possible compliance requirements with U.S. securities laws 

Smart contracts and DAOs can be used for numerous applications: digital identities, voting, governance,  smart property, asset tracking, engineering-related transactions, smart diagnostics and machine maintenance, supply chain tracking, M2M transactions, tracking supplier identity and reputation, registry of assets and inventory, etc. 

Through these evolving technologies, blockchain will affect and perhaps radically transform all kinds of interactions, including business, legal, social, and political.

Although major blockchain activity exists in the financial technology market, there is little commercial activity in other verticals. The reason for this is the embryonic state of the new concept, as well as lack of understanding in these end markets, which are currently in a state of digital transformation. 

private centralized permissioned ledgers may jeopardize the concept of immutability. Blockchains are already potentially susceptible to colluding attacks whereby one or more nodes exceeding 51% of mining power could cheat the network into accepting unlawful transactions or other nefarious action. 

For example, the colluding forces could engage in a “hard fork” of the network and move together to an amended blockchain. The challenge is that such an attack would require a large number of colluding parties

Private and permissioned blockchains, and new applications on public blockchains, are vulnerable to this type of manipulation. 

Beyond the core issue of immutability, blockchain technology still has to overcome other barriers, notably with regard to regulatory compliance, scaling, processing and redundancy costs, and, finally, privacy and security.

Currently, cryptocurrencies, DAOs, and smart contracts exist in an extra-judicial bubble governed solely by code without input or oversight by a central authority, such as a financial authority, trade commission, law enforcement entity, or other government authority.

There are open-ended questions on dispute resolution, liability, and redress. Within highly regulated sectors, blockchain might not be a suitable solution if it is not in compliance, and existing regulation is often designed with a central authority to govern and identifiable parties that can be made liable in case of breach or error. 

It will take time to adapt existing regulation to blockchain technologies for usecases in more complex settings as they relate to the IoT, the legal profession, or even in financial services beyond digital payments. 

Scaling is another critical obstacle to overcome. The distributed feature requires all nodes to record all transactions within a common shared ledger. The Bitcoin ledger is currently over 100 GB in size, served by 6,900 full nodes-- forecasts 27 billion connected IoT devices by the end of 2017.

Scaling blockchain technology to that kind of size is going to be difficult and costly. Even within the Bitcoin blockchain, there is a move toward using centralized intermediaries to clear payments. In fact, Bitcoin recently underwent a hard fork, with a new cryptocurrency emerging, Bitcoin Cash, after years-long debate. The reason behind it was to scale Bitcoin to more users with Bitcoin Cash blocks effectively increased to 8MB (as opposed to the 1MB of Bitcoin). 

Add to that the operational costs (in terms of processing power and energy consumption) to mining and verifying transactions on the blockchain, and it becomes clear that scale and decentralization are at odds with each other and a trade-off will need to be found, notably in light of IoT blockchain applications 

There are major issues revolving around privacy and security. While the Bitcoin blockchain does not record accountbalances (only transactions), it is possible to extract information about users based on the transactions (through public keys). This may be a barrier for those applications that require a higher level of privacy protection and confidentiality 

As for security, The DAO hack shows that the blockchain is vulnerable. There have been other DAO hacks since, most recently in July 2017, when USD$7 million was drained from CoinDash’s ICO, again an INSIDE JOB . 

Whether through bugs in code, or by finding a loophole in smart contracts, there will always be interest by malicious parties to exploit it, and this interest will grow alongside blockchain’s popularity.

Blockchain security relies on verification of transactions and proof of work. Should the incentive for mining the blockchain be centralized within the entity funding the miners (as will likely be the case in permissioned and private blockchains), then the risk of a single point of failure is high. Security needs to be stronger for a more open and decentralized blockchain system.


There are currently competing concepts: public and private; permissioned versus permission-less. Various endeavors are employing different algorithms and methodologies to address issues in energy consumption and security, i.e., proof of work (Bitcoin), proof of stake (Peercoin), delegated proof of stake (BitShares), practical byzantine fault tolerance (Hyperledger), etc. 

Ethereum is planning to switch from proof of work to proof of stake before the end of 2017, citing energy consumption concerns primarily. In time, successful adoption and widespread usage will inform standards work in the future, and determine which technology will ultimately provide the most cost-effective, secure, and efficient solution.

Ultimately, blockchain technologies have a long way to go before commercial applications beyond cryptocurrencies can be successfully implemented.

WE ASK ARUN JAITLEY AND  MODI NOT TO HOCK BHARATMATA IN KOSHER INTELs  MANDI.   

WE THE PEOPLE WONT ALLOW IT ..EVEN IF YOU BUY RETIREMENT HOMES IN ISRAEL

Blockchain must undergo its fair share of trials and errors and we must don’t dive off the deep end , throwing caution into the winds –just because Modi has been hugged by a white Jew and called LANGOT YAAR.
.
https://economictimes.indiatimes.com/industry/banking/finance/banking/sbi-to-use-blockchain-for-smart-contracts-and-kyc-by-next-month/articleshow/61715860.cms

OODHAR -- SABOOR -- AAARYAAAA

READ THE POST BELOW FIRST

http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

WE MUST NOT DIVE OFF THE DEEP END AND ADOPT BLOCKCHAIN -ULU (OR IS IT UDU? )
WHY DO OUR THINK TANKS HAVE SHIT FOR BRAINS?

HOW DID ENRON HACK AND BLEED BHARATMATA ? ARE WE "ALICE IN WONDERLAND " ?

PUT ABOVE COMMENT IN THE WEBSITES OF

PMO,

PM MODI

SBI CHAIRMAN

ARUN JAITLEY

FINANCE MINISTRY

EDUCATION MINISTER

SMRITI IRANI ( SHE WILL SURELY SAY -- YEH APNA ARTICLE MEIN NAHIN LIKHELA HAI )

LAW MINISTER

CJI

SUPREME COURT BAR COUNCIL

HOME MINISTER

YOGI ADITYANATH

CMs OF BOTH TELUGU LANDS

DEFENCE MINISTER

SUSHMA SWARAJ

NITI AYOG

SWAMY

GURUMURTHY

FAYE SORPOTEL DSOU#A ( TELL HER IT IS EASIER THAN POTHOLES )

ARNAB GOSWAMI ( TELL HIM IT IS EASIER THAN VVIP RACISM )

AND WEBSITES OF SENSIBLE DESH BHAKT LEADERS

capt ajit vadakayil
..







In December 2016, the Philippine central bank legalized bitcoin as a legal currency, enabling expat workers and local employees to use bitcoin to process remittance payments.  

Disgracefully India has aped the Filipinos  .

The Indian government not offered any clarity apart from the fact that bitcoin and cryptocurrencies are not illegal in the country. 

India’s major exchanges and trading platforms such as ZebPay, Uncoin and Coinsecure have continued to operate, serving Indian users and processing payments for general consumers.

The Indian think tanks has SHIT FOR BRAINS

When China banned Bitcoins, the government there had given around 3 weeks for the people as well as the Exchanges to comply.

Coins.ph, the largest bitcoin brokerage and remittance startup in the Philippines, gained 2 million active users, establishing itself as the most used mobile app in the Philippines.

Square, one of the largest payments apps in the world, has three million active users. Coins.ph, a local Philippine remittance app, has a similar user base as Square, a $16 billion financial company.

Zebpay is abitcoin exchange in India. It has offices in Ahmedabad, India. They provide only app to trade bitcoin. Zebpay supports only Bitcoins.

Unocoin has offices in Bengaluru, India. It also supports swapping of cryptocurrencies like Ethereum, Ethereum Classic, Litecoin, Monero, Ripple, Lisk and Factom to Bitcoin.

Coinsecure has offices in Delhi, India and supports only Bitcoins


Bitcoin-India has offices in Hyderabad, India—the  supports Bitcoins, Ethereum, Litecoin and Dashcoin.


BITCOIN IS 9761 USD TODAY (27th Nov 2017 ).

INDIA CANNOT TRUST BITCOIN NOR BLOCKCHAIN WHOSE “PROOF OF WORK”  MINING DEPENDS ON BITCOIN

Bitcoin has risen more than 40% over the past two weeks and over 850% so far this year.

Meanwhile, Ethereum (ETH/USD), Bitcoin’s rival, also followed suit and went to record fresh all-time highs at $ 490.75


Cryptocurrency market has cracked $300 billion.


RECAPITULATION :    Competing for coins. So, that's how miners 'seal off' a block. They all compete with each other to do this, using software written specifically to mine blocks. 

Every time someone successfully creates a hash, they get a reward of 12.5 bitcoins, the blockchain is updated, and everyone on the network hears about it.
When a block is discovered, the discoverer may award themselves a certain number of bitcoins, which is agreed-upon by everyone in the network. 

Currently this bounty is 12.5 bitcoins; this value will halve every 210,000 blocks.

The first block is known as the genesis block. The first transaction recorded in the first block was a single transaction paying the reward of 50 new bitcoins to its creator.

Additionally, the miner is awarded the fees paid by users sending transactions. The fee is an incentive for the miner to include the transaction in their block. In the future, as the number of new bitcoins miners are allowed to create in each block dwindles, the fees will make up a much more important percentage of mining income.

Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions .This ledger of past transactions is called the block chain as it is a chain of blocks. 

The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.

Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain a proof of work to be considered valid. 

This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function. The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. 

Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.


Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.

To process Bitcoin transactions, a procedure called 'mining' must take place, which involves a computer solving a difficult mathematical problem with a 64-digit solution.

To compensate for the growing power of computer chips, the difficulty of the puzzles is adjusted ( WHAT BULLSHIT IS THIS ? ) to ensure a steady stream of new Bitcoins are produced each day.

To ensure the longevity of the system, the cryptographic problems involved in the mining get progressively harder, meaning it takes longer to earn them.





SO SO SO

HERE IS AN INDIAN MINER IN THE VIDEO BAOVE

IS HE PART OF THE INNER KOSHER CLUB WHO CONTROLS MINING ?

IF NOT ,  WHAT IS BLOCKCHAIN ? 

A COMMUNIST SYSTEM?

DECENTRALISATION IN THE GARB OF CENTRALISATION ?


PROPAGANDA THAT PEOPLE RULING IN A COMMUNIST COUNTRY—  WHEN ACTUALLY A INNER CORE OF COMMUNIST PARTY DESPOTS RULE ?

Miners are turning to more powerful computers to complete these tasks and earn bitcoin.

As a result, mining (and on the flipside, bitcoin transactions) are sucking up greater and greater amounts of electricity.

There are currently about 16 million Bitcoins in existence.

To receive a Bitcoin, a user must have a Bitcoin address - a string of 27-34 letters and numbers - which acts as a kind of virtual post box.

Since there is no register of these addresses, people can use them to protect their anonymity when making a transaction.

These addresses are in turn stored in Bitcoin wallets, which are used to manage savings.

The record high for one Bitcoin of $9,700 was reached today on November 26 2017.



The dramatic rise of Bitcoin value is due to surging demand in China, where it is used to channel money out of the country says Capt Ajit Vadakayil.


‘Bitcoin miners’ is somewhat a misleading term. 

The miners are actually ‘book-keepers’ and ‘validators’ of the network. It is called as Mining because the algorithm somewhat approximates the declining supply of gold and the miner wins an award (which are the new bitcoins created) for their effort.

Bitcoin miners run a software program (which is the Bitcoin client) on their host machine. In the very initial days it could be done even from a laptop but nowadays you need expensive and dedicated machines worth thousands of dollars and very high processing power.

Functions of mining —
Book-keeping: The bitcoin client downloads and syncs in real time the entire blockchain of the bitcoin network. Hence the miners are called as book-keepers as the blockchain has list of every transaction processed by the network.

Network guardians: Miners also safeguard the network against hacks and validate each transaction. Bitcoin mining gives a probabilistic solution to Byzantine’s General problem with the underlying assumption that at least 51% of the miners are honest.

Settlement and clearing: The bitcoin network works as a settlement and clearing house for all the transactions without depending on any 3rd party service.

Creation of new bitcoins-- : As discussed in the Monetary policy of Bitcoin, 12.5 Bitcoins are created out of thin air every 10 minutes. 

This is the incentive for contributing processing power and keeping the network safe. 

It is important to understand that the primary function of mining is not for the reward, but rather keeping the network safe and executing transactions smoothly.

Bitcoin mining is an interesting way of trying to make a few bitcoin tokens on the side, but it also serves a very important purpose in maintaining and keeping the bitcoin blockchain secure. Whenever a transaction is made in bitcoin, a record of it is made on a block containing other recent transactions, like a page in a ledger. 

Once the block is full, bitcoin miners compete against each other to verify and validate the block and all its transactions by solving a complex cryptographic problem.

The first miner to accomplish this is awarded a set amount of bitcoin, based on the mining difficulty at the time. The verified block is then added to the blockchain, a history of all blocks verified since the beginning of bitcoin, and transmitted to all users of bitcoin so that they can have the latest blockchain.

At the heart of bitcoin mining lies a hard, mathematical problem. The goal is to ensure that the process of adding a new block to the blockchain requires a lot of work. SHA-256 – the mining algorithm used by bitcoin – is a one-way 
cryptographic algorithm. 

When you pass a word through SHA-256 you will be given back an unrecognizable string of letters and numbers called a “HASH”. 

Bitcoin mining involves three variables: the block, the mining difficulty and a random number. This arduous process of randomly trying to find a number that gives the solution is what makes bitcoin mining such a computationally expensive process and as more miners join the network the harder it gets. 

As of November 2017, a regular home computer working alone, ie, not an application-specific integrated circuit (ASIC) and not part of a cloud mining network, would take 2.7 million years to mine one block.

This has led to the rise of ASIC computers built specifically for mining, and to an increase in cloud mining.

Evolution of the mining computer-----
CPU mining. In the early days of bitcoin, mining difficulty was low and not a lot of miners were competing for blocks and rewards. This made it worthwhile to use your computer’s own central processing unit (CPU) to mine bitcoin. However, that approach was soon replaced by GPU mining.

GPU mining. A graphics processing unit (GPU) is a powerful processor whose sole purpose is to assist your computer’s graphics card in rendering 3D graphics. GPUs are not built for executive decisions (like CPUs) but to be very good laborers, hence GPUs are able to execute over 800 times more instructions in the same amount of time as a CPU. Mining is a repetitive process that does not require any intelligent decisions, leading to GPUs replacing CPUs in the mining world.

FPGA mining. Next came mining with field-programmable gate arrays (FPGAs). These greatly outperformed GPUs and CPUs in the mining process as FPGAs are processors that can be programmed to execute specific instructions, and only those instructions (instead of being repurposed for mining, like GPUs were).

ASIC mining. Similar to FPGAs, application-specific integrated circuits are chips designed for a specific purpose, in our case mining bitcoin, and nothing else. ASICs for bitcoin were introduced in 2013 and, as of November 2017, they are the best processors available for mining bitcoin and they outperform FPGAs in power consumption.

Mining pools. To offset the difficulty of mining a block, miners started organizing in pools or cloud mining networks. Whenever a miner in one of these pools solves a block, the reward is shared with everyone in the pool in a ratio representative of how much work you put into the pool (even though you personally never solved the puzzle).

Cloud mining. Clouds offer prospective miners the ability to purchase mining rigs in a remote data centre location. There are many obvious advantages, the most obvious being: no electricity costs, no excess heat, and nothing to sell when you decide to hang up your virtual pickaxe.

Once miners receive bitcoin, they are given a digital key to the bitcoin addresses. You can use this digital key to access and validate or approve transactions.

You can keep these digital keys safe with a number of wallet options:--

Desktop wallets. Software like Bitcoin Core allows you to send and store bitcoin addresses and also connects to the network to track transactions.

Online wallets. Bitcoin keys are stored online by exchange platforms like Coinbase or Circle and can be accessed from anywhere.

Mobile wallets. Apps like Blockchain store and encrypt your bitcoin keys so that you can make payments using your mobile device.

Paper wallets. Some websites offer paper wallet services, generating a piece of paper with two QR codes on it. One code is the public address at which you receive bitcoin and the other is your private address you can use for spending.

Hardware wallets. You can use a USB device created specifically to store bitcoin electronically and your private address keys.

Making money mining bitcoin is much more difficult today. Some of the issues contributing to this difficulty include:

Hardware prices--. The days of mining using a standard CPU or graphic card are gone. As more people have begun mining, the difficulty of solving the puzzles has too increased. ASIC microchips were developed to process the computations faster and have become necessary to succeed at mining today. These chips can cost $3,000 or more and are guaranteed to further increase in cost with each improvement and update.

Rise in corporate miners. Hobby miners must now compete with for-profits — and their bigger, better machines — when mining to make a buck.

Puzzle difficulty. Bitcoin’s protocol adjusts the computational difficulty of the puzzles to finish a block every 2,016 blocks. The more computational power put toward mining, the more difficult the puzzle.

Power costs. Power in the United States is more expensive than it is in other parts of the world, making it further difficult to compete with big-miner money.
So, will the small reward you earn from bitcoin mining be enough to offset the cost of power consumed?

If you’re using CPU/GPU/FPGA to mine, the answer is a definite no. As of November 2017, the BTC reward is so small that it doesn’t pay for the energy your computer will consume to verify a block.

This leaves us with Pools, ASICs and Cloud Mining. If you’re not willing to invest heavily in mining, your best bet could be to get a cloud mining rig. These are relatively low cost, and require no hardware knowledge to get started, no extra electricity bills, and you won’t end up with a machine you can’t sell when bitcoin mining is no longer profitable.

The rising costs of mining effectively and competing against large mining pools have made it harder for the hobbyist to profit on mining bitcoin.

It’s virtually impossible to mine enough bitcoin to recoup your initial investment in equipment and electricity.


APUN BHI MINER IS JUST A PIPE DREAM


INDIRA GANDHI GAVE UP HER LIFE BY NATIONALIZING ROTHSCHILDs PRIVATE BANKS IN INDIA

KHALISTANIS WERE USED LIKE A CURRY LEAF TO MURDER INDIRA GANDHI

http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

WHAT DO WE SEE NOW ?

MODI AND ARUN JAITLEY ARE GIVING OUR INDIAN BANKS BACK TO JEW ROTHSCHILD

I HAD AN ACCOUNT IN STATE BANK OF TRAVANCORE. THE BANK WAS EFFICIENT

NOW IT IS CALLED STATE BANK OF INDIA. MODI AND ARUN JAITLEY HAVE DECIDED TO MERGE INDIAN BANKS INTO A BEHEMOTH

AND THEN THEY WANT TO HAND OVER THIS BEHEMOTH BACK TO ROTHSCHILD-- USING A MINDLESS EXCUSE OF "APUN BHI BLOCKCHAIN-ULU "

BLOCKCHAIN IS MEANT TO DECENTRALISE.

BUT WHAT IS MODI / JAITLEY ACTUALLY DOING ?

THEY ARE HANDING OVER INDIAN BANKING HOOK LINE AND SINKER TO INTEL -- ROTHSCHILDs AGENCY

CENTRALISATION IS DECENTRALISATION ?


WAR IS PEACE ?

BLACK IS WHITE ?

SUNRISE IS SUNSET ?

KOSHER INTELs "PROOF OF ELAPSED TIME " IS UNTESTED AND UNTRIED TECHNOLOGY. WHY ARE WE DIVING OFF THE DEEP END ? WHAT IS THE AGENDA ?

WE KNOW !

WE WATCH !!

MODI SAID YESTERDAY ON LIVE TV--I ONLY SOLD TEA, CONGRESS SOLD INDIA

OH YEAH ?

SOME KOSHER DARLINGS WILL GO TO JAIL SOON

PUT THIS COMMENT IN THE WEBSITES OF PMO, PM MODI, ARUN JAITLEY, RAJNISH KUMAR ( SBI CHAIRMAN ), LAW MINISTER, CJI, SUPREME COURT BAR COUNCIL, YOGI ADITYANATH, SWAMY, GURUMURTHY, EDUCATION MINISTER, SUSHMA SWARAJ, SMRITI IRANI , HOME MINISTER, DEFENCE MINISTER, COMMERCE MINISTER AND WEBSITES OF DESH BHAKTS

capt ajit vadakayil
..

WE ASK THE GOVT OF INDIA

ASK ALL INDIANS WHO HOLD BITCOINS TO DECLARE IT WITH AADHAR NUMBER

ALL NRIs WITH INDIAN PASSPORT MUST DECLARE BITCOIN WITH PASSPORT NUMBER

India’s first bitcoin exchange Zebpay says there are more than 1.5 million bitcoin users in India and 200,000 users are being added each month. Most of these users buy bitcoins for bribery, tax avoidance and laundering money

CRIMINALS ARE ASKING FOR RANSOM IN BITCOINS

http://www.hindustantimes.com/india-news/cyber-attack-malware-hits-jawaharlal-nehru-port-operations-in-mumbai/story-xGtbHwvZI4bX5RgJCUBN3L.html

Bitcoin has found a small but growing Indian fanbase following demonetization--and BIG FISH criminal politicians are involved

Just one Indian Bitcoin exchange app had been downloaded more than 500,000 times.

The currency’s supporters are circulating an online petition addressed to Finance Minister Arun Jaitley, asking him to make Bitcoin and cryptocurrencies legal. (It has gathered more than 16,000 signatures.)

WE KNOW WHY BENAMI MEDIA IS SUPPORTING BITCOIN IN INDIA

As bitcoin exchanges are not currently required to report the trading activities of their users the government cannot know what you may have earned or lost in trading bitcoin, though as a law abiding citizen, you are supposed to report it on your tax return.

Cash can be found easily. And if you bring it to the bank you are still in the government checking circle. If you get paid in Bitcoin, there’s no bank around, and the government doesn’t know anything.

WHY IS ARUN JAITLEY AND MODI ENCOURAGING A PARALELL ECONOMY.. ARE THEY WORKING FOR BHARATMATA OR SOME JEW ?

MODI/ JAITLEY ARE AFTER SHELL COMPANIES--BUT YOU IGNORE BITCOIN , WHY ?

WE KNOW !

WE WATCH

http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

put this comment in websites of

PMO
PM MODI
ARUN JAITLEY
RBI GOVERNOR
SCI CHAIRMMAN
LAW MINISTER
CJI
SWAMY
GURUMURTHY
SUSHMA SWARAJ
COMMERCE MINISTER
SMRITI IRANI

capt ajit vadakayil
..







Back in 2008 – 2009 the USA economy took a gigantic hit and it collapsed the stock market.  This was a DELIBERATE move to induct BITCOIN and MINING for BLOCKCHAIN


The miners originally started as CPUs (processors) on computers, computing transactions and validating every transaction that was ever made with the previous ones. Eventually we realized that CPUs can only do linear computation but GPUs (graphic cards) can do much more complex computations and compare and contrast abstract numbers which speeds up the mining process. 

The transactions held in one block can be quickly validated with the previous blocks and transactions can be processed much faster which makes sending money from point A to point B much faster than any current ACH method used by banks.

Later on we developed ASIC (Application Specific Integrated Circuits) miners which were made to ONLY work on the bitcoin blockchain network. These miners are manufactured to specifically work in computing the mathematics of the bitcoin blockchain architecture. These miners are able to process transactions even faster than GPUs.

Hashing through these blocks takes a tremendous amount of computational power. It would take a single computer a very long time to hash through one block which is why pools were created. 

A pool is a group of miners working together to hash out one block, by working together they can work through the blocks much faster and if a block with a reward is found then the reward is distributed evenly according to how much work was performed by each miner.

The bitcoin blockchain protocol was created to only allow the creation of 21 million bitcoins. The block reward folds in half every 210,000 blocks or roughly every 4 years

Bitcoin is a pan-global means of exchange. Transfers are made via computer immediately with low transaction fees. Bitcoin does not flow through the traditional banking system; rather it flows from one computer wallet to another. Bitcoin cannot be held or kept in a pocket or wallet like currency; it is purely a computer-based means of exchange.

Ethereum can ONLY be mined with the memory of GPU’s (Graphic Cards). The powerful ASIC miners that were developed for bitcoin mining cannot be used to taint this new platform, as the protocol and computation is completely different than what the Bitcoin ASIC miners were designed to compute.

The FCC is now planning to abolish something we refer to as Net Neutrality which is essentially the notion that any website or service on the Internet should receive the same amount of bandwidth; nothing gets a fast lane and everything is treated equally. 

This allows the 10 year old to create a website and become as successful as the billionaire sitting in New York. 

If Net Neutrality is abolished we will live in a world where we will have “Internet Fast lanes” or “Internet Service Packages”

How would you like to pay $50 to have an Internet connection, in addition to that you have to pay $15 extra to have access to the “Social Media Package” which might include twitter, facebook, google +, Tumblr, and Instagram. 

$15 extra to have access to the “Voip Package” which includes Skype, Google hangouts, Discord, What’s App. 

$15 extra for the “Gamer Package” which might include access to Steam, Origin, Microsoft Games, PSN, Xbox live. 

$20 extra for the “Video Streaming Package” which might include Netflix, Hulu, Amazon Video, Youtube and Twitch. In addition to all of this you have a 500 GB or less data cap. I don’t know about you, but this seems like a completely stupid idea. 

This gives immediate privilege to the companies that are already established and make it impossible for new startups to create a better service to compete. Youtube was once an obscure website which not many people knew about, fast forward to today and you can see now it’s mainstream, but it could have never been elevated to this level if we had these net neutrality restricting rules in place. 

The Internet is meant to be a convoluted place, it’s the last place where we can still exercise freedom of speech. Passing these new laws will silence the little guys while giving more power to the already powerful.



We ask TRAI to POLICE NET NEUTRALITY in India , with severe fines and jail on second offence. In India only jail works

We ask TRAI ( Telecom Regulatory Authority of India )  to reward whistle blowers and form a committee consisting of representatives of ISPs, content providers, and consumer groups to police net neutrality violations across the country.

 TRAI previously prevented Facebook from pushing Free Basics, a zero-rated service that granted access to select sites and services on its platform for free, while operating as a gatekeeper that could decide which sites would be allowed in.

Internet.io is a partnership between social networking services company Facebook and six companies (Samsung, Ericsson, MediaTek, Opera Software, Nokia and Qualcomm) that plans to bring affordable access to selected Internet services to less developed countries by increasing efficiency, and facilitating the development of new business models around the provision of Internet access.  

The app delivering these services was renamed Free Basics in September 2015.  As of November 2016 40 million people are using internet.org.

It has been criticized for violating net neutrality, and by handpicking internet services that are included, for discriminating against companies not in the list, including Facebook's rivals.

With Free Basics, Facebook said it wanted to bring more unconnected users online.

At a town hall held at the Indian Institute of Technology (IIT) Delhi last December, Zuckerberg said Free Basics had already brought 15 million users online, of which a million came from India. And that's not all — he claimed half of people who came to Free Basics opted to pay to access the whole Internet.

In February 2016, regulators banned the Free Basics service in India based on "Prohibition of Discriminatory Tariffs for Data Services Regulations".   The Telecom Regulatory Authority of India (TRAI) accused Facebook of failing to pass on the four questions in the regulator's consultation paper and also blocking access to TRAI's designated email for feedback on Free Basics. 

On February 11, 2016 Facebook withdrew the Free Basics platform from India.

Facebook's carrier partners were using Free Basics to retain customers by helping them access Facebook for free, while subscribers on other networks had to pay for it. No wonder carriers were willing to foot the cost of serving Free Basics.

Free Basics is a Facebook-developed mobile app that gives users access to a small selection of data-light websites and services. The websites are stripped of photos and videos and can be browsed without paying for mobile data.

The promotion of certain sites and services through zero-rating the data also infringes on net neutrality, the idea that internet service providers (ISPs) should treat everyone’s data equally to prevent a tiered system, in which some content providers have an unfair advantage.

Rather than giving unlimited access to a restricted Internet, Facebook could have served India better by giving limited, free access to the entire Internet.

Free Basics offered the company another treasure trove of data: all user activities within the app are channeled through Facebook’s servers. This means Facebook can tell which third-party sites users are looking at, when and for how long.

Free Basics, Facebook’s free, limited internet service for developing markets, was neither serving local needs nor achieving its objective of bringing people online for the first time.

Facebook's Free Basics was treating India as the third world.  Facebook is now skating on VERY THIN ICE –we do not allow CULTURAL TERRORISM in India by JEWS anymore


BE SURE—WE THE PEOPLE ARE WATCHING ARUN JAITLEY AND HIS KOSHER TANGO WITH INTEL OVER BLOCKCHAIN FOR STATE BANK OF INDIA  --   CENTRALISATION IN THE GARB OF DECENTRALISATION

























































  • The Federal Communications Commission (FCC) is an independent agency of the United States government created by statute to regulate interstate communications by radio, television, wire, satellite, and cable. The FCC works towards six goals in the areas of broadband, competition, the spectrum, the media, public safety and homeland security, and modernizing itself.

    FCC Chairman Ajit Pai ( BASTARD –FORMER VRION LAWYER ) on Nov. 21, 2017 proposed killing the FCC’s 2015 net neutrality rules and allowing broadband providers such as AT&T Inc. and Comcast Corp. to block websites or charge more for faster speeds on their networks, as long as the companies disclose their practices

    Net Neutrality is the internet’s guiding principle: It preserves our right to communicate freely online.

    Net neutrality is the principle that Internet service providers must treat all data on the Internet the same, and not discriminate or charge differently by user, content, website, platform, application, type of attached equipment, or method of communication. For instance, under these principles, internet service providers are unable to intentionally block, slow down or charge money for specific websites and online content.

    Comcast is the largest home Internet provider in the US, with more than 23.5 million residential Internet subscribers.

    A widely cited example of a violation of net neutrality principles was the Internet service provider Comcast's secret slowing ("throttling") of uploads from peer-to-peer file sharing (P2P) applications by using forged packets. Comcast did not stop blocking these protocols, like BitTorrent, until the FCC ordered them to stop

    With Republican Ajit Pai now in charge at the Federal Communications Commission, Comcast's stance has changed and they want to kick Net Neutrality

    Comcast now vaguely says that it won't "discriminate against lawful content" or impose "anti-competitive paid prioritization." The change in wording suggests that Comcast may offer paid fast lanes to websites or other online services, such as video streaming providers, after Pai's FCC eliminates the net neutrality rules next month.

    Net Neutrality is the basic principle that prohibits internet service providers like AT&T, Comcast and Verizon from speeding up, slowing down or blocking any content, applications or websites you want to use.

    Net Neutrality is the way that the internet has always worked.

    In 2015, millions of activists pressured the Federal Communications Commission to adopt historic Net Neutrality rules that keep the internet free and open — allowing you to share and access information of your choosing without interference.

    But right now this win is in jeopardy: Trump’s FCC chairman, Ajit Pai, wants to destroy Net Neutrality. In May, the FCC voted to let Pai’s internet-killing plan move forward.

    The FCC will vote on Pai’s proposal on Dec. 14. 2017

    Net Neutrality means an internet that enables and protects free speech. We have the freedom to say that only FIVE million Jews were killed during WW2 – not SIX

    Net Neutrality means that ISPs should provide us with open networks — and shouldn’t block or discriminate against any applications or content that ride over those networks. Just as your phone company shouldn’t decide who you call and what you say on that call, your ISP shouldn’t interfere with the content you view or post online.


    CONTINUED TO 2

  • CONTINUED FROM 1-

    Without Net Neutrality, cable and phone companies could carve the internet into fast and slow lanes. An ISP could slow down its competitors’ content or block political opinions it disagreed with. ISPs could charge extra fees to the few content companies that could afford to pay for preferential treatment — relegating everyone else to a slower tier of service. This would destroy the open internet.

    The internet without Net Neutrality isn’t really the internet. Unlike the open internet that has paved the way for so much innovation and given a platform to people who have historically been shut out, it would become a closed-down network where cable and phone companies call the shots and decide which websites, content or applications succeed.

    This would have an enormous impact. Companies like AT&T, Comcast and Verizon would be able to decide who is heard and who isn’t. They’d be able to block websites or content they don’t like or applications that compete with their own offerings.

    THE BENAMI MAIN STREAM MEDIA SUPPORTS KICKING NET NEUTRALITY—BECAUSE SOCIAL MEDIA HAS RAPED MAIN STREAM MEDIA

    Net Neutrality is crucial for small business owners, startups and entrepreneurs, who rely on the open internet to launch their businesses, create markets, advertise their products and services, and reach customers. We need the open internet to foster job growth, competition and innovation.

    Net Neutrality lowers the barriers of entry by preserving the internet’s fair and level playing field. It’s because of Net Neutrality that small businesses and entrepreneurs have been able to thrive online.

    No company should be allowed to interfere with this open marketplace. ISPs are the internet’s gatekeepers, and without Net Neutrality, they would seize every possible opportunity to profit from that gatekeeper position.

    DONALD TRUMP MUST KNOW THAT JEW ROTHSCHILD IS USING AJIT PAI TO SCREW HIM

    TRUMP –DO YOU HAVE BRAINS ?

    OR HAVE YOU FLUSHED IT DOWN THE TOILET ?

    Capt ajit vadakayil
    ..




  • SNOPES IS BEING USED TO CENSOR TRUTHS

    The big players in the GMO and agrochemical industry – Monsanto, Bayer, Dow, Syngenta, DuPont – are engaging in an extensive public relations, advertising, lobbying and political campaigning to make sure that genetically engineered crops (GMOs), and the chemical pesticides they require, continue to proliferate in the U.S.

    To improve their public image, they are attempting to manipulate everything we see and hear about GMO crops and pesticides in the media and on TV, the internet and print articles – using propaganda-laden commercials, “mommy-blogger” articles, farmer endorsements, hired operatives to change Wikipedia, and front group websites.

    The GM biotech industry and EVIL pharma is feeling threatened, and their profits hang in the balance.

    They are trying to silence the truth!

    A lot of people trust the website Snopes.com and use it to fact-check things they hear on the internet.

    For no reason whatsoever, this CHOOTIYA mom-and-pop website has been put on a pedestal as if they are the be-all and end-all of truth on the internet.

    Facebook recently teamed up with Snopes, allowing them become an arbitrator of fake news circulating on their network, essentially elevating them as an authoritative source of information

    If SNOPES does not agree it is fake news -- extreme censorship

    Snopes is now 50% owned by an ad agency (Proper Media) and they make money by generating millions of views on the 3rd-party advertisements on their website. It simply makes sense for them to seek out articles that are viral to “debunk”, so that they can piggy-back on that traffic and generate more advertising revenue.

    Now GOOGLE is using Snopes --whose kosher SHIT DOES NOT SMELL

    Snopes was founded by a husband and wife team who are now in the middle of a contentious divorce in which founder David Mikkelsen has been accused of embezzling $98,000 of company money to spend on “himself and prostitutes”.

    Snopes doesn’t have a formal screening process for hiring fact checkers and for evaluating applicants for any potential conflicts of interest. Without such standards, it is very easy for them to be infiltrated by those who work with the industry and who have a hidden agenda.

    Monsanto has used SNOPES to smell of roses

    KOSHER Monsanto has a long and sordid history of infiltrating the government and regulatory agencies such as the FDA and EPA.

    http://ajitvadakayil.blogspot.in/2012/05/monsanto-and-farmer-suicides-in-india.html

    Remember: Snopes makes all of their money from advertising !!!

    SNOPES SUPPORTED HILLARY CLINTON WHOLESALE

    WHEN I POSTED MY 11 PART SERIES ON DONALD TRUMP--GOOGLE USED ALGORITHMS AND BURIES MY POSTS . BEING THE NO 1 ON SOCIAL MEDIA--BY MILES-- MY POSTS SHOULD HAVE COME ON PAGE 1

    Snopes has its own political affiliations

    Google made the partnership announcement when Snopes was on the brink of collapse after being accused of lies, fraud and using company expenses on prostitutes and honeymoons.

    capt ajit vadakayil
    ..


    BITCOIN HISTORY:--

    May 2010    $0.01           
    July 2010     $0.08
    April 2011   $1.00 
    Dec 2011     $2.00
    Dec 2012     $13.00         
    June 2013   $100 
    Nov 2013    $350
    Mar 2014    $450
    Sept 2016    $600
    January 2017        $800            
    April 2017    $1,210         
    May 2017     $2,000   
    August 2017            $4,400
     September 2017   $5,000  
    13 October 2017    $5,600 
    21 October 2017    $6,180    
    6 November 2017           $7,300         
    25 November 2017        $9,000          .
    28 November 2017        $10,000      
    29 November 2017        $11,000   

    WE SHALL FIND OUT WHY TETHERS ( UNBACKED ) ARE ISSUED WHENEVER BITCOIN FALLS 
        


    We ask the Govt of India—


    Declare that all Indians ( with AADHAR / PAN ) and NRI  ( PASSPORT ) must declare their Bitcoin transactions over the past year ( above a limit of 10,000 USD) 

    Compare this with digital exchanges . 

    Warn of jail if LIES are declared ( fines don’t work )


    KASHMIRI TERRORISM AND PUNJAB KHALISTANI CHINESE  DRUG MAFIA ARE  NOW FUNDED BY BITCOINS

    Coinbase,  has exchanged over $50 billion since its launch in 2012





    We ask , why is India silent on regulatory framework for bitcoin.  Hullo  KOSHER darlings !

    Why is our ELECTED EXECUTIVE like Alice in Wonderland when it comes to legality of Bitcoin in India?

    India remains as the largest remittance market in the world, with more than $71 billion in annual payments received by Indian employees or expat workers.  The expats are now aping expat Filipinos

    Coins.ph, the largest bitcoin brokerage and remittance startup in the Philippines, gained 2 million active users, establishing itself as the most used mobile app in the Philippines.

    INDIA MUST NOT TREAT PHILLIPINES AS A ROLE MODEL.


    INDIA MUST NOT JUMP INTO BLOCKCHAIN-ULU ( OR IS IT UDU ) WITHOUT UNDERSTANDING THE BITCOIN SYSTEM


    https://www.reuters.com/article/us-global-markets-bitcoin/bitcoin-loses-over-a-fifth-of-its-value-in-less-than-24-hours-idUSKBN1DU1Z3?ref=hvper.com

    WE KNOW WHY MODI, ARUN JAITLEY , AND SBI CHAIRMAN IS SILENT ON BITCOIN

    WE INDIANS ARE NOT FOOLS

    http://ajitvadakayil.blogspot.com/2017/11/blockchain-proof-of-elapsed-time-intel.html


    PU THIS COMMENT IN THE WEBSITES OF PMO, PM MODI, ARUN JAITLEY, RBI GOVERNOR, SBI CHAIRMAN, CJI, LAW MINISTER , SUPERME COURT BAR COUNCIL, SWAMY, GURUMURTHY, I&B MINISTERY, EDUCATION MINISTER, YOGI ADITYANATH 

    capt ajit vadakayil
    ..



    http://trak.in/tags/business/2017/11/30/infosys-launches-blockchain-banking-solutions/

    NR NARAYANA MURTHY DID NOT WANT TO EMBARASS HIS WHITE SKINNED GUESTS BY PLAYING INDIAs NATIONAL ANTHEM

    NR NARAYANA MURTHY SOLD ANCIENT INDIAN GLORY AND SANATANA DHARMA TO A HINDU HATING FELLOW NAMED SHELDON POLLOCK

    WE WATCH

    NR NARAYANA MURTHYs SON IN LAW HAS PLANS OF BEING BRITAINs PRIME MINISTER

    MODI/ JAITLEY --WE ARE NOT STUPID

    http://ajitvadakayil.blogspot.com/2017/11/blockchain-proof-of-elapsed-time-intel.html

    PUT ABOVE IN THE WEBSITES OF--
    PMO
    PM MODI
    I&B MINISTER
    SUSHMA SWARAJ
    LAW MINISTER
    CJI
    SUPREME COURT BAR COUNCIL
    HOME MINISTER
    WATER MINISTER
    SWAMY
    GURUMURTHY
    AND WEBSITES OF DESHBHAKTS

    capt ajit vadakayil
    ..


    http://ajitvadakayil.blogspot.com/2017/11/blockchain-proof-of-elapsed-time-intel.html

    SO SO SO

    BLOCKCHAIN-ULU ( OR IS IT UDU ? ) SEEKERS ARUN JAITLEY AND SBI CHAIRMAN HAS JUMPED FROM INTEL ( PROOF OF ELAPSED TIME ) BOAT TO INFOSYS BOAT ?

    WHERE IS THE WHITE PAPER OF INFOSYS ?

    IN USA INFOSYS ATTRACTS ONLY BOTTOM DREGS TALENT.

    THEY PAY HIGH SALARIES TO CEO/CTO-- BUT VERY POOR SALARIES TO THE EMPLOYEES

    INFOSYS SALARY IN USA CANT EVEN PAY THE FLAT RENT ON MY ELDER SON .

    BUT HEY

    WHAT ABOUT THE TIER ONE COMPANIES LIKE GOOGLE/ FACEBOOK/MICROSOFT / GOLDMAN SACS/ BLOOMBERG ETC ?

    THE EMPLOYEES ARE ALL HAND TO MOUTH THERE --IN USA INCOME TAXES ARE HIGH--MEDICARE IS HIGH

    SORRY-- WE KNOW

    EVERY NOW AND THEN BENAMI MEDIA GIVES THE PERKS OF THESE TIER ONE COMPANIES

    BALLS TO THESE CHOOTIYA PERKS.

    NONE OF THESE COMPANIES GIVE BREAKFAST / LUNCH / DINNER

    IN MY ELDER SONs COMPANY --ALL THREE ARE FREE -- CATERED FROM 5 STAR HOTEL-- LAVISH CLASSY SPREAD --NO ITEM IS REPEATED FOR A MONTH-- IF YOU BRING YOUR FAMILY TO OFFICE FOR A VISIT, FOOD IS FREE

    THROUGHOUT THE DAY --SNACKS AND BEVERAGES ARE FREE -- THIS INCLUDES FANCY DRINKS LIKE RED BULL ETC/ CHOCOLATES / FANCY FAST FOOD

    MEDICARE IS FREE -- LAUNDRY IS FREE-- GYM IS FREE - PETS IN OFFICE --TRANSPORT INCENTIVES ETC ETC

    UNLIMITED SICK LEAVE!!!! ( NO NEED FOR ADVANCE NOTICE ) -- UNLIMITED WORK AT HOME

    SO SO SO-- THE WEST THINKS INDIANS ARE BEGGARS ?

    THE PLACE I STAY HAS HUNDREDS OF IT COMPUTER SCIENCE EMPLOYEES-- THERE ARE 3 LARGE SWIMMING POOLS AND A HEATED INDOOR POOL, JACUZI / 2 GYMS, TENNIS / OUTDOOR AMPHITHEATRE / BASKET BALL/ TT SHEETTEE/ LARGE LIBRARY / HOSPITAL/ VEG- GROCERY STORES/ -- CHEAP LABOUR /COOKS -- THE WORKS

    I KNOW WHAT IS AVAILABLE IN THE BEST FLATS / CONDOMINIUMS IN USA

    BALLS TO ALL THIS "LAND OF MILK AND HONEY " STORIES OF USA

    TAXI DRIVERS ( AVOID TAX ) IN USA LIVE MORE COMFORTABLY THAN THE EMPLOYEES OF THE INDIAN IT MAJORS IN USA

    SO WHAT BLOCKCHAIN-ULU ( OR IS IT UDU ) ARE YOU GETTING FROM INFOSYS ?

    WE AWAIT THEIR WHITE PAPER FOR BLOCKCHAIN

    capt ajit vadakayil
    ..

    Below: In between Indian banks  ( not knowing if they are coming or going ) have been pussyfooting with PROOF OF CONCEPT of MonetaGo.  









    People have been advocating blockchain-ULU ( or is it UDU ? )  as a magic wand to solve many global problems (like securing nuclear weapons and managing the power grid);  

    Hey, how about making FRY EGGE ?

    The only reason a blockchain not rewarding miners could survive is if they had a centralized mining system fueling the blockchain.

    Blockchain is best known as the technology behind the virtual currency Bitcoin.  The two were almost synonymous at one time.   That, however, started to change when central banks around the world voiced their reservations about virtual currencies.  

    For those working with the blockchain technology, this meant that blockchain had to be separated from bitcoin if central banks and commercial banks were to be persuaded to look at it seriously.

    WE HAVE THE CMs OF TELUGULAND JUMPING UP AND DOWN LIKE ORANGUTANS—APUN BHI BLOCKCHAIN-ULU  ( OR IS IT UDU ?)

    Proof of Concept (PoC), in explicit terms, refers to providing a proof that your concept will work. However, its inference differs across the industries.  In software development industry, it means verifying the technical viability of a product.

    PoC is a demonstration, the purpose of which is to verify that certain concepts or theories have the potential for real-world application. POC is therefore a prototype that is designed to determine feasibility, but does not represent deliverables.

    A proof of concept is usually small and may or may not be complete.
    PoC is a demonstration with the aim of verifying that the idea has practical potential. It can be a proof of one technology talking to another or an aim to determine the solution to some technical problem or to demonstrate that a given configuration can achieve a certain output.

    Blindly doing something because a potential client has asked us to do might put us in a tight spot during the actual project execution if the idea itself does not resonate with any practical purpose towards a solution.

    Jesse Chenard, chief executive officer of MonetaGo, declared in a grandiose manner “The idea is to get Indian banks to adopt blockchain by integrating it in their existing processes such as payments, remittances and trade-finance settlement. One example of this is the setting up of a State Bank of India led consortium which is looking for ways to use blockchain technology to prevent frauds in the system by sharing a negative list of defaulters among participant banks  .  We showed ‘proof of concept’ for trade finance and trans-information payment systems during the IDRBT trial .  One strong use case of blockchain is integrating it with payment and remittance systems. India has a number of well established payment networks like Immediate Payment Settlement System (IMPS) and Real Time Gross Settlement (RTGS) .  These systems can be made more secure and efficient through the use of blockchain technology. We don’t need to provide a new payment system. We need to integrate with it. We need to ensure that settlement agents are represented on the blockchain and have authority over any application that touches the payment. But the settlement still happens at the bank and the report comes from the National Payments Council of India.To bring a blockchain implementation to fruition, CIOs will need to tee up a proof of concept and a field test before going to full production”

     BLAH BLAH FUCKIN’ BLAH !   ”. 

    PIECE OF FUCKIN’ CAKE , RIGHT ?

    Most of the time in these PoC projects was spent developing code and building capabilities that surrounded the blockchain, often referred to as “scaffolding.”

    In broad terms, blockchain is a data store. More specifically, a blockchain is a cryptographically authenticated, shared, distributed ledger. 

    Technically, blockchain refers to the original bitcoin implementation and other implementations are shared ledgers using a chain of blocks with various types of cryptographic authentication, distribution, and block architectures and capabilities. For clarity, however, the industry refers to all of these offerings as blockchains.

    Building blockchain PoCs can be a time consuming and costly endeavor. Are we Indian taxpayers gonna pay for a halfbaked idea ?

    Microsoft announced a framework for accelerating enterprise-ready proof of concept (PoC) blockchain deployments in their Azure cloud platform

    Microsoft is taking steps to reduce both the lead time and costs associated with blockchain PoCs. Microsoft identified that most of the time in these PoC projects was spent developing code and building capabilities that surrounded the blockchain, often referred to as “scaffolding.” That scaffolding typically required building a responsive web client, writing and deploying a gateway API, implementing support for off-chain storage in technologies such as SQL DB, building out reporting and analytics, and integrating identity and key vault services into the solution. The blockchain PoC framework will provide customers with the ability to publish underlying code and Azure services using Azure Resource Manager (ARM) templates. ARM templates are JSON files that consist of expressions and parameters which drive the provisioning of a service in Azure. Within the blockchain PoC framework, customers can quickly provision: a gateway API, a responsive web application, Azure Active Directory integration, Azure Key Vault integration and SQL DB. In this scenario, the SQL DB can be configured to collect on-chain data. In order to provide the right level of attestation, Microsoft will also provide Hashing and Signing services. Since the blockchain data is being replicated into an off-chain store, Microsoft allows organizations to leverage their existing skillsets to enable additional capabilities using Power BI, chat bots, machine learning, R and Azure Data Factory. Underpinning this framework is Microsoft’s high-scale publish/subscribe ingestion engine called Azure Event Hubs. Using Azure Event Hubs, customers can also wire-in additional Azure services like Azure Stream Analytics and Azure Data Lakes.   Microsoft is also trying to make the experience of building web applications on top of the blockchain simpler.

    Swift has launched a proof of concept (PoC) to EXPLORE whether blockchain/distributed ledger technology (DLT) can be used by banks to improve the reconciliation of their nostro databases in real time

    ARE WE FACING SOME IMMINENT CRISIS –THAT WE HAVE TO DIVE OFF THE DEEP END – OR INDIA WILL DISINTEGRATE ?  

    WHAT THE FUCK IS HAPPENING ?

    The Institute for Development & Research in Banking Technology (IDRBT) is a unique institution exclusively focused on Banking Technology. Established by the Reserve Bank of India (RBI) in 1996, the Institution works at the intersection of Banking and Technology. It is located in Hyderabad, TELUGULAND  India

    I COULD PUT AN EXAM PAPER ON BASICS OF BLOCKCHAIN ON THE IDRBT THINK TANK — THEY ALL WILL FAIL MISERABLY



    INDIANS HAVE BEEN USED AS GUINEA PIGS BY THE WHITE MAN FOR EVERY THING – WHEN WILL WE EVER LEARN ?   DID WE NOT LEARN ANYTHING FROM WHITE REVOLUTION, GREEN REVOLUTION ETC ?

    ARE WE MISSING THE BUS?

    WHAT IS THE TEARING HURRY TO DIVE OFF THE DEEP END –WITHOUT CON COMPANIES ( STARTUPS ) NOT EVEN SHOWING US A WHITEPAPER ON THEIR BLOCKCHAIN TECHNOLOGY ?


    https://timesofindia.indiatimes.com/business/international-business/bitcoin-white-house-imf-turn-focus-on-cryptocurrencies/articleshow/61876370.cms

    HULLLOOOOOOOOO

    MODI



    Proof-of-Stake (PoS), pays interests to stake holders and centralizes control in proportion to stake (coin ownership), which is an unevenly distributed, finite resource.  As a result, numerous vulnerabilites impair the security of PoS coins.   

    Attacking the currency is a one-time cost of stake that sustains forever, whereas for PoW the attacker must continue to expend resources on mining to maintain an attack.

    A consensus protocol is said to be objective if a new node joining the network can independently arrive to the same state as the rest of the network based solely on protocol rules (e.g., a definition of the genesis block) and messages propagated across the system (e.g., a set of all blocks).

    PoW consensus as used in Bitcoin is an example of an objective protocol; as long as a new node is connected to at least one “honest” user, it will always regard the blockchain with the highest computational difficulty as the valid chain. Forks pose no threat to newcomers.

    Classical PoS, on the other hand, lacks this crucial property. Anyone who can build a fork longer than the actual chain will confuse new nodes which are not able recognize the canocial chain as such. It appears that PoS history has no verifiable longest chain. 

    While long range forks can be rejected by existing users of the system who keep track of the chain’s history (e.g. by limiting the length of possible forks), newcomers must rely on additional information about the recent state of the blockchain. 

    Such a consensus protocol is called “weakly subjective” since joining users need to have access to the current block from a trusted, reliable source. This compromises the blockchain’s trustlessness.

    Blockchain systems, especially private blockchains don't necessarily have MINING requirement, instead operating like cloud network computers, where the distributed computing nodes are trusted and controlled

    In any public blockchain *anyone* an add blocks to the blockchain. However, the transactions within that block will only become active if the rest of the network accepts this new block. ‘Accepting’ means that it comply to the rules of that particular cryptocurrency. 

    For instance, you solved a particular puzzle (Proof of Work), or via an algorithm dependable on the wealth (Proof of Stake), or in another algorithmic way, for instance ‘Algorand’ .

    Bitcoin is the most ambitious kind of blockchain. Anyone can use bitcoin’s cryptographic keys, anyone can be a node and join the network, and anyone can become a miner to service the network and seek a reward. Miners can walk away from being a node, return if and when they feel like it, and get a full account of all network activity since they left.

    Basically, anyone can read the chain, anyone can make legitimate changes and anyone can write a new block into the chain (as long as they follow the rules). Bitcoin is totally decentralized. It is also described as a 'censor-proof' blockchain.

    For these reasons, it’s known by its widest description, a public blockchain. But, this is not the only way to build a blockchain.

    Blockchains can be built that require permission to read the information on the blockchain, that limit the parties who can transact on the blockchain and that set who can serve the network by writing new blocks into the chain.

    For example, Ripple runs a permissioned blockchain. The startup determines who may act as transaction validator on their network, and it has included CGI, MIT and Microsoft as transaction validators, while also building its own nodes in different locations around the world.

    A blockchain developer may choose to make the system of record available for everyone to read, but they may not wish to allow anyone to be a node, serving the network’s security, transaction verification or mining. It’s a mix-and-match situation that is reflected in the various ways entrepreneurs are experimenting with the technology.

    With permissioned blockchains, this may or may not involve 'proof of work' or some other system requirement from the nodes. There is some politics around this, as there are those who consider private blockchains that do not use any proof of work (that is, blockchains with no mining) to not be blockchains at all, but simply shared ledgers.

    In a Public Blockchain, anyone can read and write the data stored on the Blockchain as it is accessible to everyone in the world. A person can become a member of the Blockchain network and can store, send and receive data after downloading the required software on his device.

    A Public Blockchain is completely decentralised as the permissions to read and write data onto the Blockchain are shared equally by all the connected users, who come to a consensus before any data is stored on the database. A Public Blockchain is based on a completely trust-less system where no user is given special privileges on any decision.

    The most common implementations of a Public Blockchain are Bitcoin and Ethereum where the public nature of Blockchain allows users from various backgrounds to come on a common platform for making transactions and eliminates the need for third party vendors by making transactions direct between users.

    As it is decentralised, a Public Blockchain is also mathematically very hard to hack as the cost of hacking becomes too high for a system where every node connected is synced with the entire Blockchain database and more importantly, once a hack is discovered, the value of the hacked coins would diminish exponentially — thus incurring huge losses on the hacker (he had to invest a lot of hardware to overtake the network hashrate)

    Since all transactions in a public Blockchain need to be verified by thousands of users, the transaction verification process can become very time consuming. The users pay a larger amount of transaction fee here as compared to the Private and Permissioned Blockchain.

    In a Public Blockchain, here the permissions to write data onto the Blockchain are controlled by one organisation which is highly trusted by the other users. This organisation may/may not allow users to have access to read the data, as public readability might not be necessary in most cases. 

    In some situations, the organisation might want the public to audit the data. Limited/restricted read permissions also provide a greater level of privacy to the users, a feature not available in Public Blockchains.

    The organisation in control has the power to change the rules of a Private Blockchain and may also decline transactions based on their established rules and regulations.

    In a Private Blockchain, the transactions are quicker as they can be verified be a small number of devices. Thus, the users pay lesser amounts of transaction fees since the number of people verifying the transaction is fewer than in a Public Blockchain.

    Also, the devices are very well connected and any faults can be fixed by human intervention, which can be easily approved by the users since the users trust the single organisation in control of the Blockchain.

    A Permissioned Blockchain is a type of Private Blockchain and shares many features of the latter. A Permissioned Blockchain provides a hybrid between the ‘low-trust’ provided by Public Blockchains and the ‘single highly-trusted entity’ model of Private Blockchains. 

    Popularly called a Consortium Blockchain, it is one where instead of allowing any person with an internet connection to participate in the verification of the transaction process or allowing a single company to have full control, a few selected nodes are predetermined.

    For example — imagine a consortium of 10 companies, each of which operates a device connected to the Blockchain network. If company ‘2’ only trades and shares its invoices with ‘3’, ‘4’ and ‘5’ there is no need for the other companies to be given the permissions to read the shared data.

    Although some degree of decentralisation is maintained in their structure, the participants have the power to grant read/write permissions to other participants, leading to the ‘Partially Decentralised’ design of Permissioned Blockchains.

    The transactions are quick to verify in a Permissioned Blockchain as there are a handful of verifiers, with the transaction fee miniscule thus increasing the overall efficiency of transactions. Like Private Blockchains, the Permissioned Blockchains maintain the privacy of a user’s data, without consolidating power with a single organisation.

    The main concerns surrounding Public Blockchains are privacy and scalability. Both can be mitigated to some extent but are not completely solved at present.
    Similarly, Private Blockchains have a single point of failure and bringing various organisations to use a common model remains a concern.

    The terms public, permissioned, and private refer to who has the ability to be a user of, or run a node on, the Blockchain (a node is a computer that host the blockchain and validates transactions). 

    Each type of Blockchain places a different level of importance on anonymity, immutability, efficiency, and transparency.

    On a public Blockchain anyone can be a user or run a node. 

    Generally speaking public Blockchains such as Bitcoin value anonymity, immutability, and transparency over efficiency. This means your identity can be safe as you purchase goods online .

    Permissioned Blockchains are operated by known entities such as stakeholders of a given industry. They value immutability and efficiency over anonymity and transparency. The Financial industry would use such a Blockchain to reduce the time of international payments from days to seconds. 

    A permissioned blockchain restricts the actors who can contribute to the consensus of the system state. In a permissioned blockchain, only a restricted set of users have the rights to validate the block transactions. A permissioned blockchain may also restrict access to approved actors who can create smart contracts.

    Permissionless blockchain is contrary to what you read above – Here anyone can join the network, participate in the process of block verification to create consensus and also create smart contracts. A good example of permissionless blockchain is the Bitcoin and Ethereum blockchains, where any user can join the network and start mining.

    In a permissionless world, you do not have to prove your identity to the ledger. As long as you are willing to commit processing power to be part of the network and extending the blockchain, you are allowed to play. 

    Any miner who is playing the game by the rule may be able to solve the hash puzzle and verify the block of transactions to win the mining reward (Higher the mining power, better the chances of winning the mining reward).

    In the permissioned blockchain world, you need to be an approved actor in the system to participate in growing the chain as well as building consensus. Many of the blockchain consortiums that build private blockchains for financial institutions and other enterprises follow this model.

    One other critical difference between these two is the underlying mining model – permissionless blockchains use Proof of Work(PoW) mining where hashing power is offered to build trust

    As long as 51% of the nodes are honest players, network consensus is reached. (Read about 51% attack here).  While Bitcoin uses PoW mining, Ethereum uses a Proof of Stake model (PoS) for reaching consensus.  

    Proof of stake mining asks users to prove ownership of a certain amount of currency (their “stake” in the currency). Instead of buying computers and electricity for mining in a PoW system, a PoS systems uses the capital to acquire the coins/tokens that allow you to validate transactions.

    Permissioned blockchains do not have to use the computing power based mining to reach a consensus since all of the actors are known; They end up using consensus algorithms like RAFT or Paxos. 

    There are also other PBFT algorithms that can be used to reach consensus without PoW mining. Permissioned blockchains offer an access control mechanism so that peers are allowed or rejected based on a control value (an address, a certificate, etc.).

    Private Blockchains are operated by one entity. These Blockchains value efficiency over anonymity, immutability and transparency. I wouldn’t say that they are useless, but their use cases are limited. 

    Private blockchains are private because of the genesis block they are using. Their blocks do not match with any other blockchains (you cannot link blocks from the main net to blocks of a private net with a different genesis blocks as the block header hashes won't match).

    Note that any node can connect to a private blockchain if it knows a bootstrap node address to sync, the network id, and the genesis file. This node can perform any action on the private net; mine, make transactions, deploy contracts, etc. 


    The first primary difference between a properly conceived permissioned blockchain network and an unpermissioned blockchain network is whether the participants in the network have an ability to restrict who can participate in the consensus mechanism of the blockchain’s network.



    When Bitcoin was released as open source code, blockchain was wrapped up together with it in the same solution. And since Bitcoin was the first application of blockchain, people often inadvertently used “Bitcoin” to mean blockchain. That’s how the misunderstanding started.

    Bitcoin was launched with the intention to bypass government currency controls and simplify online transactions by getting rid of third-party payment processing intermediaries. Of course, accomplishing this required more than just the money itself. There had to be a secure way to make transactions with the cryptocurrency.

    Bitcoin transactions are stored and transferred using a distributed ledger on a peer-to-peer network that is open, public and anonymous. Blockchain is the underpinning technology that maintains the Bitcoin transaction ledger

    The Bitcoin blockchain in its simplest form is a database or ledger comprised of Bitcoin transaction records. However, because this database is distributed across a peer-to-peer network and is without a central authority, network participants must agree on the validity of transactions before they can be recorded. This agreement, which is known as “consensus,” is achieved through a process called “mining.”

    After someone uses Bitcoins, miners engage in complex, resource-intense computational equations to verify the legitimacy of the transaction. Through mining, a “proof of work” that meets certain requirements is created. The proof of work is a piece of data that is costly and time-consuming to produce but can easily be verified by others. 

    To be considered a valid transaction on the blockchain, an individual record must have a proof of work to show that consensus was achieved. By this design, transaction records cannot be tampered with or changed after they have been added to the blockchain.

    The blockchain that supports Bitcoin was developed specifically for the cryptocurrency. That’s one of the reasons it took a while for people to realize the technology could be adapted for use in other areas. 

    The technology also had to be modified quite a bit to meet the rigorous standards that businesses require. There are three main characteristics that separate the Bitcoin blockchain from a blockchain designed for business.

    Bitcoin thrives due to anonymity. Anyone can look at the Bitcoin ledger and see every transaction that happened, but the account information is a meaningless sequence of numbers. 

    On the other hand, businesses have KYC (know your customer) and AML (anti-money laundering) compliance requirements that require them to know exactly who they are dealing with. Participants in business networks require the polar opposite of anonymity: privacy. 

    For example, in an asset custody system like the one being developed by Postal Savings Bank of China, multiple parties, including financial institutions, clients, asset custodians, asset managers, investment advisors and auditors are involved. They need to know who they are dealing with but one client or advisor doesn’t necessarily need to be able to see all transactions that have ever occurred (especially when those transactions relate to different clients).


    Consensus in a blockchain for business is not achieved through mining but through a process called “selective endorsement.” It is about being able to control exactly who verifies transactions, much in the same way that business happens today. If I transfer money to a third party, then my bank, the recipient’s bank and possibly a payments provider would verify the transaction. This is different from Bitcoin, where the whole network has to work to verify transactions.

    The benefits of blockchain for business are numerous, including reduced time (for finding information, settling disputes and verifying transactions), decreased costs (for overhead and intermediaries) and alleviated risk (of collusion, tampering and fraud).

    A permissioned blockchain restricts the actors who can contribute to the consensus of the system state. In a permissioned blockchain, only a restricted set of users have the rights to validate the block transactions. A permissioned blockchain may also restrict access to approved actors who can create smart contracts.

    Permissionless blockchain is contrary to what you read above - Here anyone can join the network, participate in the process of block verification to create consensus and also create smart contracts. A good example of permissionless blockchain is the Bitcoin and Ethereum blockchains, where any user can join the network and start mining.


    In a permissionless world, you do not have to prove your identity to the ledger. As long as you are willing to commit processing power to be part of the network and extending the blockchain, you are allowed to play. 

    Any miner who is playing the game by the rule may be able to solve the hash puzzle and verify the block of transactions to win the mining reward (Higher the mining power, better the chances of winning the mining reward).

    In the permissioned blockchain world, you need to be an approved actor in the system to participate in growing the chain as well as building consensus. Many of the blockchain consortiums that build private blockchains for financial institutions and other enterprises follow this model.

    One other critical difference between these two is the underlying mining model - Permissionless blockchains use Proof of Work(PoW) mining where hashing power is offered to build trust. As long as 51% of the nodes are honest players, network consensus is reached.

    Permissioned blockchains do not have to use the computing power based mining to reach a consensus since all of the actors are known; Hence they take the Proof of stake approach where the speed of settling transactions are faster compared to PoW model. 

    Proof of stake mining asks users to prove ownership of a certain amount of currency (their "stake" in the currency). Instead of buying computers and electricity for mining in a PoW system, a PoS systems uses the capital to acquire the coins/tokens that allow you to validate transactions.

    Sawtooth supports both permissioned and permissionless deployments. It includes a consensus algorithm, Proof of Elapsed Time (PoET). PoET targets large distributed validator populations with minimal resource consumption. Transaction business logic is decoupled from the consensus layer into Transaction Families that allow for restricted or unfettered semantics.

    Permissioned platforms have semi-trusted members where only known participating nodes that are part of a consortium, are verified and registered. These groups are expected to be small in number and therefore can employ alternative consensus mechanisms. 

    Achieving consensus in a distributed system has known solutions in the research literature, e.g. Paxos, RAFT, and various Byzantine Fault Tolerance algorithms. Permissioned blockchain platforms have largely adopted these consensus algorithms.

    As blockchain platforms are being challenged to meet rigorous real-world application requirements, such as low latencies, immediate transaction finality, high performance and good scalability, limitations of existing consensus models are being recognized. 

    On one hand, while PoW models support open-ended participation, they are a poor match for applications that need immediate transaction finality and have high transaction rates

    The consensus mechanism maintains the sanctity of the data recorded on the blockchain. The blockchain system will safeguard the transaction and block order thereby safeguarding all the key properties of blockchain, such as immutability and auditability only when the underlying assumptions are correct and the consensus model can uphold the state of the blockchain under failure and adversarial conditions.

    Poor choice of a consensus mechanism can render the blockchain platform useless thereby compromising the data recorded on the blockchain. Below are some of the issues that can result when the consensus mechanism fails.

    Blockchain Fork – A blockchain fork can result in different nodes in the system converging on different blocks as being part of the blockchain. In Bitcoin, though temporary forks may exist due to network latencies, the protocol is designed such that all nodes will eventually converge on a single chain. A blockchain fork can wreak havoc on applications leading to completely inconsistent view of data recorded on the blockchain thereby forcing applications to behave in an unpredictable manner. The Stellar network, which originally forked code from Ripple, experienced a fork in the Stellar blockchain due to a misconfiguration .

    Consensus Failure – Certain consensus algorithms may not guarantee the ability to reach consensus. For e.g. if the consensus algorithm requires a super-majority vote from a certain percentage of nodes, failing to reach this number because of node or network failures, non-compliant nodes or as a result of valid honest nodes not being able to make a decision due to inconsistent messages received from other nodes, may result in consensus failure.

    Dominance – Consensus round outcomes can be manipulated by a single or group of entities if it is not designed to be resilient against Sybil attacks, where one or handful of nodes can generate millions of identities that they control. Having such dominance allows the dominating group to confirm the transactions and blocks as per their rules, even include transactions that can double-spend the cryptocurrency. Dominance can also be achieved by other means, such as controlling 51% of mining power in a PoW network .

    Cheating – Validating nodes either individually or in collusion can independently maintain parallel forks in the blockchain of fraudulent transactions or altered reality that can been provided as proof to the auditor or external third party. The consensus and blockchain reading mechanism has to ensure that such attacks cannot be carried out on the blockchain platform.

    Poor Performance – Based on the design of the consensus algorithm, it may require more time under certain conditions for consensus to converge. These conditions could be dynamic where other nodes have turned malicious or a network partition may delay messages that are exchanged between nodes, etc. This may manifest as inconsistently high latencies in applications.

    Consensus algorithms have to be resilient to failures of nodes, partitioning of the network, message delays, messages reaching out-of-order and corrupted messages.

    They also have to deal with selfish and deliberately malicious nodes. Several algorithms are proposed in the research literature to solve this, with each algorithm making the required set of assumptions in terms of synchrony, message broadcasts, failures, malicious nodes, performance and security of the messages exchanged. 

    For a blockchain network, achieving consensus ensures that all nodes in the network agree upon a consistent global state of the blockchain. A consensus protocol provides fault tolerance if it can recover from failure of a node participating in consensus

    The Fischer Lynch Paterson impossibility result (FLP) states that a deterministic asynchronous consensus system can have at most two of the following three properties: safety (results are valid and identical at all nodes), guaranteed termination or liveness (nodes that don’t fail always produce a result), and fault tolerance (the system can survive the failure of one node at any point). This is a proven result.


    FLP Impossibility Result, states that no deterministic consensus protocol can guarantee safety, liveness and fault tolerance in an asynchronous system. While fault tolerance is crucial for globally distributed networks to operate, distributed systems tend to choose between safety and liveness depending on their system requirements and assumptions.

    Fault tolerance refers to two types of faults in distributed systems. Fail-stop faults deal with node failures that cause nodes to stop participating in the consensus protocol. These are benign faults caused by hardware or software crashes. When a fail-stop fault occurs, the node just stops responding. The second category of faults are Byzantine faults, which cause nodes to behave erratically


    Byzantine faults or failures can occur because of software bugs or as a result of the node being compromised. A Byzantine node can lie, can provide ambivalent responses or completely mislead other nodes involved in the consensus protocol. 

    The consensus protocol has to be able to operate correctly and reach consensus in the presence of The Byzantine Generals Problem A group of generals, each commandeering a part of the Byzantine army has surrounded an enemy city.
    To attack the city, all generals have to agree on a battle plan. Generals can communicate via messengers only.

    The messengers might be captured by the enemy and the message might never reach the other general. The difficulty in the agreement is that one or more generals might be traitors and are interested in sabotaging the battle plan. 

    To this end, they might send false messages, distort messages or not send any messages at all. All loyal generals will act according to the plan. A small number of traitors should not cause the loyal generals to adopt a bad plan. Byzantine nodes as long as the number of Byzantine nodes within a distributed system are limited.

    Blockchain platforms use a range of consensus models which are PoW and PBFT in their original form or variations of it providing certain advantages desired over the original model. Bold new models are also proposed, such as Proof-of-Stake (PoS) and Proof-of-elapsed-Time (PoeT) and variations of PBFT appear as viable alternatives.

    Proof-of-Stake algorithms are designed to overcome the disadvantages of PoW algorithms in terms of the high electricity consumption involved in mining operations. 

    PoS completely replaces the mining operation with an alternative approach involving a user’s stake or ownership of virtual currency in the blockchain system. 

    Putting it another way, instead of a user spending say $2000 buying mining equipment to engage in PoW algorithm and winning a mining reward, with PoS she can buy $2000 worth of cryptocurrency and use it as stake to buy proportionate block creation chances in the blockchain system by becoming a validator. 

    The PoS algorithm pseudo-randomly selects validators for block creation, thereby ensuring that no validator can predict its turn in advance. Naïve PoS algorithms suffer from a problem called Nothing-at-Stake. These implementations do not provide incentives for nodes to vote on the correct block. 

    Therefore nodes can vote on multiple blocks supporting multiple forks to maximize their chances of winning a reward as they do not “expend” anything in doing so as opposed to in PoW, where the node would be splitting up its resources to vote on multiple forks. This is the Nothing-at-Stake problem which needs to be tackled for a correct and efficient implementation of PoS.

    Ethereum’s PoS algorithm, called Casper, is perhaps the most advanced PoS algorithm. Though multiple rounds of PoCs are released, it is still in testing and is expected to be released in the Serenity v version of the Ethereum platform. Casper uses the concept of security deposits and bets to achieve consensus.

    Nodes are allowed to be bonded with the Ethereum system by making significant security deposits set by the protocol. These nodes are bonded validators and show commitment and interest in advancing the Ethereum blockchain via staking their security deposits. 

    The initial list of bonded validators is tracked by a special contract known as the Casper contract. From there on, the bonded validator list can evolve based on newer nodes joining in and older ones leaving the system. 

    Each validator is pseudo-randomly selected to produce a block from the active validator set, with the probability of selection linearly weighted by each validator’s deposit. If a validator is offline, a different validator is selected and this process repeats until an online validator is found that creates a block. 

    If a validator produces a block that gets included in the chain, they receive a block reward equal to the total ether in the active validator set. If the validator produces a block that does not get included in the chain, the protocol works such that the validator loses the security deposit equal to the block reward.

    This mechanism proposes to solve the Nothing-at-Stake problem where it stop nodes from producing blocks that won’t get included in the main chain. Proof-of-Stake was first designed and a naïve version of it used by PeerCoin. Different variations of PoS are also used by BitShares, NXT and Tendermint.

    IntelLedger or Intel SawtoothLake is a blockchain platform developed by Intel and subsequently open sourced for use by the community. IntelLedger uses a consensus algorithm, designed by Intel, called Proof of Elapsed Time (PoET) intended to run in a Trusted Execution Environment (TEE), such as Intel’s Software Guard Extensions (SGX).

    PoET uses a random leader election model or a lottery based election model based on SGX, where the protocol randomly selects the next leader to finalize the block. 

    The random leader election algorithm uses this model to deal with untrusted nodes and open–ended participation of nodes in the consensus algorithm. For the consensus to work correctly, it has to randomly distribute the leader election among all available participating nodes and it needs a secure way for other nodes to verify that a given leader was correctly selected without any scope for manipulation. 

    This is achieved using the TEE to guarantee the safety and randomness of electing a leader.

    Leader election works as follows. All validating or mining nodes have to run the TEE using Intel SGX. Each validator requests a wait time from the code running inside the TEE. The validator with the shortest wait time wins the lottery and can become the leader. The functions within the TEE are designed such that their execution  cannot be tampered with by external software.

    When a validating node claims to be a leader and mines a block, it can also produce proof generated within the TEE that other nodes can easily verify. It has to prove that it had the shortest wait time and it waited for a protocol designated amount of time before it is allowed to start mining the next block.

    The randomness in generating wait times ensures that the leader role is randomly distributed among all validating nodes. The only drawback of this algorithm is the reliance on specialized hardware.

    Hyperledger Fabric, which is the most popular permissioned blockchain platform being developed by the Linux Foundation provides a flexible architecture with a pluggable consensus model. 

    Fabric is designed for consortiums where the group of participants in the consortiums is not only known, but their identities are registered and verified with a central registry service running within the system. It also supports smart contracts on the blockchain, also known as chaincode. 

    Hyperledger currently supports two consensus models – the popular Practical Byzantine Fault Tolerance algorithm (PBFT) and its variation SIEVE that is able to handle non-deterministic chaincode execution.

    Ripple and Stellar are two blockchain based platforms and payment protocols that use variations of the Byzantine Fault Tolerance consensus models by making them open-ended with respect to node participation. 

    These blockchain platforms target financial use cases and the payments domain in particular. They provide payment protocols, which can settle cross-border transactions in a matter of seconds as opposed to today’s infrastructure that takes days for the same.

    The participants in such systems are end users, financial institutions that act as gateways and market makers that can be either users or financial institutions. End users generate payment transactions using client software and must trust some gateways to hold their payments. 

    Gateways are like banks that people use in the real world to hold their money. Gateways hold user funds issued to the gateway in fiat currencies and create equivalent issuances in the Ripple/Stellar network, which reflect as an account balance in the global blockchain. 

    A payment transaction can be verified by all nodes by referring to account balances in the global blockchain. Transaction settles by adjusting balances in the blockchain. Market-makers provide the required liquidity in this network.

    Market-makers maintain accounts with multiple gateways and in multiple currencies. They can trade in multiple currencies and their liquidity is used to settle trades and payment transactions. Since most transactions deal with payments in fiat and other cryptocurrencies, it is of utmost importance that the protocol orders transactions consistently to prevent double spend attacks. 

    Ripple and Stellar use their own consensus models that are a derived form of Byzantine Fault tolerance modified to include open-ended participation from users, gateways and market-makers.

    Ripple Consensus Protocol Algorithm - Ripple protocol requires each node to define a Unique Node List(UNL). The UNL comprises of other Ripple nodes that are trusted by the given node not to collude against it.

    Consensus in the Ripple network is achieved by each node by consulting other nodes in its UNL. Each UNL has to have a 40% overlap with other nodes in the Ripple network . 

    Consensus happens in multiple rounds where each node collects transactions in a data structure called “candidate set” and broadcasts its candidate sets to other nodes in its UNL. Nodes validate the transactions, vote on them and broadcast the votes. 

    Based on the accumulated votes, each node refines its candidate set and transactions receiving the largest number of votes are passed to the next round. When a candidate set receives a super-majority of 80% of votes from all nodes in the UNL, the candidate set becomes a valid block or in Ripple terms a “ledger”. This ledger is finalized and considered the “Last Closed Ledger (LCL)” and added to the Ripple blockchain by each node. 

    Next round of consensus is started with newer transactions and pending transactions that did not make it into the last round of consensus. Consensus in the entire network is reached when each individual sub-network reaches consensus.

    Stellar Consensus Protocol - Stellar Consensus protocol algorithm  uses the concept of quorums and quorum slices. Quorum is a set of nodes sufficient to reach agreement. 

    A quorum slice is a subset of a quorum that can convince one particular node about agreement. An individual node can appear on multiple quorum slices. Stellar introduces quorum slices to allow each individual node to choose a set of nodes within its slice thereby allowing open participation. 

    These quorum slices and quorums are based on real life business relationships between various entities thereby leveraging trust that already exists in business models. To reach global consensus in the entire systems, quorums have to intersect. Overall consensus is reached globally from decisions made by individual nodes.



    Consensus models used by popular blockchain platforms today are largely driven by the type of applications the platform expects to cater to and the threats it envisages to the integrity of the chain. 

    Typically the permissionless platforms are achieving robust consensus among very high number of untrusted peers using computational or memory complexity while sacrificing transaction finality and throughput. 

    On the other hand, the permissioned, consortium blockchains are opting for a less scalable but much higher throughput model that ensures faster transaction finality. 

    When looking at Blockchain to solve a business problem, it is imperative to look at the scale of the intended network, the relationships between participants, and both functional and non-functional aspects (such as performance and confidentiality) before determining the right platform and the right consensus model to use.



    http://ajitvadakayil.blogspot.com/2017/11/blockchain-proof-of-elapsed-time-intel.html

    WHY IS ARUN JAITLEY SILENT ON BITCOIN AND CRYPTO CURRENCY EXCHANGE REGULATION?

    PM MODI -- WHY IS BIG FISH WHO LAUNDER MONEY ALLOWED A DIFFERENT SET OF RULES ?

    http://ajitvadakayil.blogspot.in/2012/07/my-experience-at-mundra-port-adani-sez.html


    PAKISTAN ACTED ON PANAMA PAPERS-- WHY DID YOU NOT ? WE KNOW WHY !

    AMITHABH BACHCHANS NAME IS IN BOTH PANAMA AND PARADISE PAPERS-- YET TOP BJP MINISTERS ARE HOBNOBBING WITH HIM--WHY ?

    PM MODI-- ARE YOU WAITING FOR WHITE JEW RULERS TO MAKE AN ANNOUNCEMENT.

    SORRY--WHITE NATIONS ARE STEALING MONEY . ALL WESTERN NATIONS ARE NOSTRIL DEEP IN DEBT

    TILL I WROTE A 33 PART POST ON SHELL COMPANIES -- INDIAN PMs DID NOTHING.. RATHER THEY DISHED OUT PADMA VIBHUSHAN TO ONE BIG FISH WHO HOBNOBBED WITH ENRON

    READ ALL 33 PARTS --

    http://ajitvadakayil.blogspot.in/2017/02/shell-companies-for-money-laundering.html

    HULLO PM MODI-- YOU HAVE DONE NOTHING FOR KASHMIRI PANDITS-- ARE YOU ON THE SIDE OF KHALISTANI CHINESE FENTANYL DRUG RUNNERS AND ISLAMIC TERRORISTS ?

    WE WATCH

    PUT ABOVE COMMENT IN WEBSITES OF --
    PMO
    AJIT DOVAL
    PM MODI
    HOME MINISTER
    DEFENCE MINISTER
    YOGI ADITYANATH
    LAW MINISTER
    CJI
    SUPREME COURT BAR COUNCIL
    ATTORNEY GENERAL
    SWAMY
    GURUMURTHY
    MEA
    I&B MINISTRY
    AND WEBSITES OF DESH BHAKT LEADERS

    Criminal organizations are increasingly using cryptocurrencies to launder money or otherwise pay for illicit activities in India.

    Foreign funded NGOs in India now deal in crypto currencies .

    Virtual currencies are the newest major method for hiding criminal proceeds—especially from drug trafficking by Khalistanis in Punjab

    Desh drohis are increasingly using cryptocurrencies to escape detection from law enforcement.

    Cryptocurrencies are convertible virtual currencies, as they can be exchanged for fiat money such as pounds, dollars and euros and this facilitates their use for settling commercial transactions.

    Bitcoin is now an acceptable form of payment in exchange for goods and services by household names such as Microsoft, Expedia and Subway.   At the same time, blockchain  technology is being adopted by more businesses.

    Hard-to-track criminal activity isn’t the only threat from the use of cryptocurrencies – there’s also the possibility of their use to finance terrorism, given that the formal banking sector is now adept at spotting suspicious movement and mobilisation of monies through the banking system

    The fact that they can be converted into pounds, dollars and euros does make regulation of cryptocurrency more feasible. It can be done at the point of their conversion through virtual currency exchanges – which, as financial institutions, can be regulated.

    Payments can be easily affected cross-border because conversion of the likes of bitcoin through currency exchanges can be transacted in different parts of the world – including in jurisdictions with lax financial regulatory regimes and weak KYC/AML measures. 

    This means that, while jurisdictions with stronger regulatory powers may clamp down on criminal activities, such efforts can be easily wiped out because perpetrators are likely to migrate to countries with lax regimes.


    On November 28, 2017, the Department of Homeland Security published the written testimony of chief special agent Matthew Allen before a Senate Committee on the Judiciary hearing titled "S.1241: Modernizing AML Laws to Combat Money Laundering and Terrorist Financing."

    Allen’s testimony focused on the money laundering activities of transnational crime organizations (TCOs) that have turned to cryptocurrency as a means of anonymous value exchange. 

    Due to this trend, Immigration and Customs Enforcement (ICE) and Homeland Security Investigation (HSI) are considering expanding the scope of their AML-related probes to encompass cryptocurrencies.
    Allen described the allure of cryptocurrency to criminals trying to hide their identities:

    "HSI agents are increasingly encountering virtual currency, including more recent, anonymity-enhancing cryptocurrencies (AECs), in the course of their investigations. AECs are designed to better obfuscate transaction information and are increasingly preferred by TCOs."

    In one case, Utah resident Aaron Shamo, organizer of a fentanyl  pill scheme, had $2.5 million worth of bitcoin seized from him by HSI agents. Shamo was arrested in December 2016.


    I WAS A LIVING LEGEND AT SEA, PRIMARILY OF MY ABILITY TO CUT THE CRAP.

    CAPT AJIT VADAKAYIL WAS ALWAYS THE FIRST TO POINT OUT AT THE ELEPHANT IN THE ROOM – OR — THAT THE EMPEROR IS NOT WEARING CLOTHES

    MY SHIP HAD REAL WORK – NEVER ACTIVITY TRAPS.

    http://ajitvadakayil.blogspot.in/2009/07/real-work-and-activity-traps-capt-ajit.html

    WHEN YOU ARE CAUGHT IN THE CHAKRAVYUH OF ACTIVITY TRAPS , REAL WORK TAKES A BEATING AND THE SHIP BECOMES UNSAFE. THE SHIP HAS A LIMITED WORKFORCE WHO HAS ONLY 24 HOURS IN A DAY.

    BY ELIMINATING “ACTIVITY TRAPS” I DID EFFECTIVE TIME MANAGEMENT.

    I WAS AN “EFFECTIVE LEADER” AT SEA – MY CREW LITERALLY WORSHIPPED ME BECAUSE THEY KNEW NO WORK IS DONE OF BOARD BECAUSE SOME POMPOUS CUNT ASHORE WANTS IT THAT WAY.

    http://ajitvadakayil.blogspot.in/2010/12/predictive-maintenance-on-chemical.html

    I TOOK ON MIGHTY SHORE FORCES AND WON .

    WHEN THIS HAPPENS EVERYBODY IN POWER HATES YOUR GUTS.

    I CREATED A “CERTAINTY” ON/ OFF SWITCH AND KEPT THAT IN MY POCKET. AS A CAPTAIN I SNATCHED AWAY THE VETO POWER FROM MY SHORE BOSSES AND SHORE POWERS .

    THIS TAKES GUTS .

    I FLUSHED “STATIC” RISK ASSESSMENT DOWN THE SHITPOT AND INTRODUCED THE CONCEPT OF “DYNAMIC “ RISK ASSESSMENT TO BE DONE BY THE BEST AND MOST TECHNICAL FORCES ON BOARD

    http://ajitvadakayil.blogspot.in/2010/04/dynamic-risk-assessment-on-chemical.html

    MY POST ON BLOCKCHAIN STILL CONTINUES—IT IS NOW AT PART 14

    http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

    WHAT THE FUCK IS BITCOIN MINING ?

    IS IT REAL WORK OR AN ACTIVITY TRAP?

    IT IS PROOF OF WORK --- OR PROOF OF “REAL “WORK.

    BIG BROTHER PUTS THE DUMBED DOWN MASSES INTO AN ENDLESS CHAKRAVYUH.

    KOSHER MINING CONSORTIUMS CONTROL BITCOIN MINING. “APUN BHI MINER” DOES NOT WORK – HE IS JUST A WORM WHO DOES NOT MATTER .

    KOSHER BIG BROTHER COALSCED 166 “MAIN STREAM MEDIA “ INTO SIX MAIN STREAM MEDIA BEHEMOTH FORCES –ALL CONTROLLED BY BILDERBERG CLUB AND OWNED BY HIM.

    WHEN ARNAB GOSWAMI OF NEW TV CHANNEL REPUBLIC JUMPS UP AND DOWN ( LIKE A DEMENTED COCAINE SNORTING ORANGUTAN ) , HOLLERING THAT MENSTRUATING WOMEN MUST BE ALLOWED TO ENTER SABARIMALA ILGRIMAGE— YOU MUST KNOW WHOSE ORIGINAL KOSHER VOICE HE RELAYS .

    HAVE YOU SEEN HOW THE ENTIRE INDIAN BENAMI MAIN STREAM MEDIA SUPPORTS HILLARY CLINTON OVER DONALD TRUMP? OR HOW THEY ALL SUPPORT “PADMAVATHY “ ?

    WHY DID JEW OBAMA COME RUNNING TO INDIA TO MEET RTHSCHILDs APCO BRANDED MODI TWO DAYS AGO ?

    JUST WHO THE HELL IS JEW OBAMA TODAY ?— JUST ROTHSCHILDs AGENT CONTROLLING THE KOSHER SHADOW GOVT OF USA . YES— THIS IS THE MEANING OF POINTING OUT TO THE ELEPHANT IN THE ROOM.

    SO WHAT DOES THE KOSHER CONTROLLED BEHEMOTH BITCOIN MINING CONSORTIUM DO ?

    THEY CONSUME THE ELECTRICITY OF 157 NATIONS OF THIS PLANET. IN REALITY , AS PER MY CALCULATIONS IT IS 162 NATIONS .

    IT IS COMPULSORY FOR ALL MY READERS TO CLICK ON THE LINK BELOW.

    https://www.rt.com/business/411777-bitcoin-mining-electricity-states-power/


    TODAY BITCOIN HAD RALLIED UP TO 11891 USD .   LAST YEAR SAME TIME IT WAS 700 USD.

    ANY IDIOT KNOWS WHAT THIS MEANS ?

    WE ASK BLOCKCHAIN-ULU ( OR IS IT UDU ) TELUGULAND CUNTS-- CAN THIS HAPPEN TO GOLD OR ANY OTHER COMMODITY –OTHER THAN DUTCH TULIPS ?

    WE WATCH

    Capt ajit vadakayil
    ..


    AS BITCOIN VALUE HAS SURGED , BITCOIN MINING HAS GONE FROM PRIVATE MINING ENTHUSIASTS TO GIANT KOSHER GANGS.

    THESE BEHEMOTH KOSHER CONSORTIUMS  MAKE BILLIONS OF USD

    Nearly a decade after an online user named Satoshi Nakamoto published a paper describing how "Bitcoin: A Peer-to-Peer Electronic Cash System" does not need to rely on trusted institutions, individual bitcoin mining is growing more difficult, while large KOSHER enterprises have emerged.

    Mining bitcoin requires high computing power to solve a complex mathematical equation, proving that an anonymous miner used the process the network agreed upon to build the blockchain record of transactions.

    This is a method to who gets mining rewards in Bitcoins

    ANY HONEST MAN CAN BE FRAMED FOR MURDER OR DRUG RUNNING  TODAY.    

    WHEN NATIONS LEGITIMIZE SYSTEMS WHERE CRIMINALS AND TERRORISTS OPERATE THIS IS VERY EASY.

    The propaganda is that it is essentially impossible to forge transactions.  That changing a block involves a huge  computational load and the chaining means that all subsequent blocks must also be changed to make  them consistent. Having done all that, the changed copy would simply be thrown out by the software that maintains the consistency of all the blockchain copies.

    But hey -- the only way to make a forgery stick is to make the same forgery on 51% of the thousands of blockchain copies.

    The Krypton blockchain was attacked; hacked twice in August 2016 by an anonymous group calling themselves the “51 crew.” The Shift chain was also robbed.

     51 crew employed a deadly blockchain exploit, only recently revealed by Ethereum, which allowed 51 crew to manufacture their own version of the KR chain offline and push that into production as the real KR chain by combining large amounts of hashing power and DDos attacks on KR nodes.

    Lacking the network hashing power provided by a vast number of coin miners, there seems to be no way to defend against this exploit. Krypton decided on the following  course of action in order to protect KR from being stolen from exchanges through a double spend: Krypton is moving KR from an Ethereum-based proof-of-work blockchain to a Bitcoin-based proof-of-stake blockchain.

    In May 2016, when the Decentralized Autonomous Organization (DAO), was attacked by a hacker exploiting a vulnerability in its smart contract code, dealing a blow of around $60 million. It led to a forking of the Ethereum blockchain into Ethereum and Ethereum Classic.

    In typical "proof of work" networks like bitcoin, a lot of computing power is spent to prove that a transaction is genuine. If more than 50% of the bitcoin network participants agree to a block, it is deemed as accepted. 

    In this situation, anyone who can hack into machines and divert the computing power to his own account can control large pieces of the network. This would allow the hacker to create a chain longer than the authentic chain, essentially allowing a dual transaction.

    To mitigate this, many platforms are moving towards "proof of stake" consensus. That ensures that instead of computing power, the ability to ratify a transaction is dependent on the stake the participants have in the network. Clearly, people who are invested in a currency will not want its value crashing by ratifying rogue transactions.

    For permissioned blockchains, since addition of nodes is a controlled activity, it would be difficult for a hacker to take over the network. Most enterprise applications are likely to use permissioned blockchains with some level of oversight from a governing body or participants themselves.

    As the DAO example showed us, software is written by humans, and is always subject to DELIBERATE human error. Most hacks are inside jobs –done by people who have injected DELIBERATE vulnerabilities

    One area in blockchain systems that has not attracted much attention so far is external system integration. These complex systems are built on blockchains requiring integration with external systems; these integration points are a weak link that hackers can target. 

    Many current solutions rely on "oracles", where an oracle is a particular agent trusted by blockchain participants. Such reliance on an external agent poses many questions around system reliability and security.

    The DAO hack shows one way hacks can be handled—by doing a hard fork of network and having participants ratify that fork instead of the longest chain prevailing. This puts into question the principle that "blockchains are immutable", and businesses need to have clear plans for handling situations where their network is compromised.

    A key component of technology maturity cycle is discovery of software defects, attempts to hack, leading to further robustness in the technology and maturity of best practices.

    As blockchain evolves, law enforcement will need to have better skills and guidelines to investigate and prosecute security breaches.

    DOES INDIA HAVE THE REQUISITE LAW ENFORCEMENT WITH BASIC SKILLS TO NAB CRIMINALS DOING INSIDE JOBS  ( WITHOUT TAKING THE HELP OF THE  WHITE OR YELLOW MAN WHO WAS BEHIND IT ) ? 

    THE ANSWER IS “HELL NO !” — WE ALL KNOW IT


    A key element of the adoption of any new technology is also the evolution of best practices around security management

    https://www.coindesk.com/bitfinex-vs-bitfinexed-exchange-hires-law-firm-challenge-critics/

    ONLY JEWS THREATEN LEGAL ACTION WHEN CAUGHT WITH THEIR PANTS DOWN

    WE ALL KNOW WHAT TETHER IS DOING TO BITCOIN

    Tether's surging supply is the major driver behind Bitcoin's explosive appreciation.

    Tether is a cryptocurrency controlled by Tether Limited. Unlike Bitcoin, Tether is issued (not mined) and seeks to maintain a stable exchange against the dollar (i.e. tethered). This is accomplished through a reserve based model, whereby each Tether is backed by one US dollar in the company’s bank.

    One can acquire Tether directly through the website or trade through an exchange. One can convert Tether to USD at Tether Limited, though Tether Limited has the right to refuse for any reason.

    If Bitfinex were to successfully take its nemesis to court, it would need to lay bare its own operations to prove the accusations to be false. And that is exactly what the whole world wants

    Bitfinex has the knack for filing and then retracting lawsuits, having done similar against Wells Fargo earlier this year.

    The hiring of KOSHER Steptoe & Johnson as evidence of Bitfinex trying to deter mainstream media outlets – which have greater legal obligations than anonymous social media commenters – from investigating its dealings.

    Bitfinex can silence future dissenters who may be tempted to emulate Bitfinex’ed and start slinging mud.

    Until Bitfinex publishes the long-overdue audit of its accounts, speculation will continue.

    Does $814 million of a digital token known as tether really exist?

    What is tether's connection to Bitfinex, the world's biggest bitcoin exchange?

    SELF AUDIT IS LIKE SELF GYNECOLOGY--IT CUTS NO FUCKIN' ICE !

    Initial coin offerings (ICOs) can easily net millions of dollars from enthusiastic investors, but a number of countries are starting to regulate them. ( China has banned ICOs ) . The Philippines is the latest country to join this growing club.

    The U.S. Securities and Exchange Commission won an emergency asset freeze to stop an initial coin offering that the agency said has defrauded investors by promising a 13-fold profit in less than a month.

    SEC sued Dominic Lacroix and his company PlexCorps who has raised $15 million since August marketing and selling a product called PlexCoin over the Internet.

    An ICO is a crowdsourced fundraising practice that allows companies to raise capital by issuing their own cryptocurrencies.

    China banned bitcoin trading and initial coin offerings (ICO) nearly three months ago.

    Bitcoin’s (BTC)  rise to $ 12588 raises important questions around risk and transparency for investors and exchanges alike, and whether a crash is looming.

    The issue is that, like any investment vehicle, the value of bitcoin and other cryptocurrencies (forms of digital money) is subject to manipulation by large entities that have a stake in it, especially large-scale traders. The cryptocurrency exchange Bitfinex is the main actor to think about here.

    Bitfinex’s CEO is also the CEO of a company called Tether Limited, which issues tethers (also known as USDT), a pegged cryptocurrency; that is, the tether’s value is pegged directly to that of the U.S. dollar. To do so, Tether commits to keep the dollar equivalent of all USDT value in reserves at all times. 

    Tether offers a way to own and move fiat currency across different cryptocurrencies and exchanges without the need to convert crypto assets into dollars. That means transactions are fast and cheap, yet the price of the currency is as stable as the U.S. dollar, in theory.

    But that tether-to-dollar relationship seems weaker these days, partly because 50 million tethers were printed in just one week in November. It’s unlikely that these newly minted currencies truly represent $50 million in today’s dollars, which throws off the assumption about the tether’s real value.

    Tether sends these mint USDT directly to Bitfinex. While it’s unclear what exact transactions take place with them after, what we observe is that once these USDT enter the Bitfinex exchange, the price of bitcoin jumps, as has happened multiple times recently. 

    That means it’s likely the new tethers are used to buy bitcoin. As demand for bitcoin surges, its price goes up, investors see that and want to get in on it, more bitcoin is bought, and the cycle continues.

    It’s hard to say how well backed up the USDT really are. Bitfinex has assured investors that the cryptocurrencies it trades are backed up—but more vaguely than hoped: The exchange says it has adequate “resources” to back them up

    Specifically, if Bitfinex doesn’t have the liquidity to survive a large-scale cash-out of tether, bitcoin, or any other cryptocurrency traded there, we could see something similar to what happened in 2014, when the Mt. Gox exchange collapsed under similar circumstances. 

    Investors lost everything they’d put into the cryptocurrencies in question, though the currencies regained investor confidence afterward, led by bitcoin.

    The group that should probably pay the most attention to the implications here is cryptocurrency investors or would-be investors less familiar with the dynamics of this currency. These investors may pay attention only to the exuberant rise in bitcoin’s value, not recognizing the steep plunge that could follow if that value is poorly backed.


    This could be akin to the formation and bursting of the dot-com bubble in 2000, where those who “followed the herd” without a good understanding of the market dynamics that helped push valuations up felt the decline particularly strongly. 

    In the case of Bitcoin, the impact of the fall might be even more widespread, as the collapse of one exchange directly impacts all other exchanges and cryptocurrencies.

    hi capt
    http://www.financialexpress.com/market/still-thinking-of-buying-bitcoin-at-13000-warning-rbi-has-a-message-for-you/963533/



    1. THERE IS A BITFINEX / TETHER SCAM GOING ON --PEOPLE HAVE NOT WOKEN UP

      https://en.wikipedia.org/wiki/Bitfinex

      https://en.wikipedia.org/wiki/Tether_(cryptocurrency)

      Bitfinex has dominated the world’s Bitcoin trade on exchanges, with a 41.72% market share over the last SEVEN DAYS . (The next biggest player is the US-based exchange, Coinbase, with 25.78% market share.)

      In May 2015, 1 500 bitcoins were stolen from Bitfinex during a hack. Then in 2016, Bitfinex was the subject of another hack in which $72m worth of bitcoin was stolen.

      Wells Fargo dumped Bitfinex earlier this year, resulting in Bitfinex experience problems in its banking services

      Bitfinex not being completely transparent about being key in creating and establishing a cryptocurrency called ‘Tether’ (USDT), which is intended to be pegged to the US dollar at a rate of 1:1. There are now questions about whether Tether itself is backed with sufficient funding in case of a run on the markets (and in some instances if you even just want to withdraw dollars out of Tether).

      It is obvious that Bitfinex has been instrumental in driving up Bitcoin prices, partly via Tether. Nobody dares bell the cat as Bitfinex has been threatening to sue skeptic bloggers in court

      Tether currency, which started trading in 2015, is described as a stable alternative to bitcoin’s wild price swings.

      A restaurant owner who accepts bitcoin but fears its volatility could shift bitcoin into tether, which can be easier to do than exchanging bitcoin for dollars.

      Its price has stayed near $1 for most of its life because Tether, the company behind the digital token, says that every tether is backed by one U.S. dollar held in reserve.

      Since there’s $814 million of tether circulating, there should be $814 million parked in bank accounts somewhere.

      Tether’s website makes a claim that’s unusual among cryptocurrencies: “every tether is always backed 1-to-1 by traditional currency held in our reserves.” The site also says each tether can be redeemed for $1.

      But its terms of service say: “There is no contractual right or other right or legal claim against us to redeem or exchange your tethers for money. We do not guarantee any right of redemption or exchange of tethers by us for money.”

      On Dec. 2, 2017, Bitfinex released a quarterly report announcing it would no longer serve U.S. customers because it’s too expensive to do business with them.

      Neither Tether nor Bitfinex disclose on their websites or in any public documents where they’re located or who’s in charge

      Jan Ludovicus van der Velde is CEO of both Bitfinex and Tether

      Phil Potter is a Tether director. He’s also the chief strategy officer at Bitfinex

      Bitfinex engages HAWALA to remain in business.

      Bitfinex once claimed that they would play cat-and-mouse tricks with banks by continuously creating shell companies every time their accounts were shut down.

      DO WE HAVE A FINANCE MINISTRY IN INDIA?

      DO WE HAVE A PM IN INDIA?

      OR IS OUR PM ONLY FOR MILKING VOTES AND GIVING FAALTHU MANN KE BAATH BULLSHIT TO SHINE PERSONALLY ?

      capt ajit vadakayil
      ..
    https://www.gadgetsnow.com/slideshows/bitcoin-surges-above-12000-rbi-has-6-warnings-for-you/RBI-has-constituted-a-group-to-look-at-the-possibility-of-having-a-government-backed-cryptocurrency/photolist/61943248.cms

    ARUN JAITLEY HAS WOKEN UP

    capt ajit vadakayil
    ..



    BITCOIN HISTORY:--

    May 2010    $0.01           
    July 2010     $0.08
    April 2011   $1.00 
    Dec 2011     $2.00
    Dec 2012     $13.00         
    June 2013   $100 
    Nov 2013    $350
    Mar 2014    $450
    Sept 2016    $600
    January 2017        $800            
    April 2017    $1,210         
    May 2017     $2,000   
    August 2017            $4,400
     September 2017   $5,000  
    13 October 2017    $5,600 
    21 October 2017    $6,180    
    6 November 2017           $7,300         
    25 November 2017        $9,000          .
    28 November 2017        $10,000      
    7th December 2017       $16,815  


    A quarterly shareholder update from Bitfinex has been leaked, evidencing that Bitfinex is one of the major institutions purchasing USDT from Tether – intensifying the controversy and scrutiny surrounding the relationship between the two companies.

    Since April, the vast majority of all Tether issuances have been occurring through Bitfinex

    Because Bitfinex and Tether have common principles and banking, there is no limit to the timing or amount of money that can flow between the two entities even if inbound and outbound customer wires are limited. 

    Bitfinex holds the vast majority of its customer USD balances in the form of USD bank balances. Bitfinex typically only holds less than 20M Tethers for customer withdrawal. 

    When that balance approaches zero, Bitfinex moves money (typically $20M) from the Bitfinex bank account to the Tether bank account at the same bank in order to purchase additional tether from Tether Limited. 

    To be clear, when this happens, cash is credited (or removed) from Bitfinex’s balance sheet and debited (or added) to Tether’s

    Bitfinex simply acts as an aggregator of customer demands for bulk creation and acquisition of Tethers.

    Creation of USDT has nothing to do with the USD lending market – addressing speculation that many of the Tethers recently produced have been used to fund margin trading on the exchange.


    Bitfinex has failed to provide evidence of their associated banking partners, going as far as agreeing to provide such information to a reporter on the condition that they sign a non-disclosure agreement.

    hi capt
    Digital currency exchange NiceHash says bitcoin worth nearly $64 million hacked

    https://tech.thaivisa.com/digital-currency-exchange-nicehash-says-bitcoin-worth-nearly-64-million-hacked/26130/




    1. NICEHASH LOST 4700 BITCOINS

      In Japan, following the failure of bitcoin exchange Mt Gox, new laws were enacted to regulate bitcoins and other cryptocurrencies. 

      Mt. Gox shut down in February 2014 having lost more than 850,000 bitcoins, to hackers. 

      ALL SUCH HACKINGS ARE INSIDE JOBS


      NOTE: When Tether/ Bitfinex becomes insolvent Bitcoin may crash back to 1800 USD levels
      capt ajit vadakayil
      ..


    In order to perform a transaction on Blockchain today, all computers, or nodes, in the network must validate the transaction or execute a smart contract, a piece of code stored in the network that delineates the conditions necessary for the transaction to be carried out. 

    If all nodes achieve the same result and reach a consensus, the transaction is confirmed. As you can imagine, this takes time.

    Sharding, on the other hand, runs on the parallel processing power of multiple networked machines that split up the workload of verifying transactions. 

    It automatically divides networks into smaller sections, or “shards,” each of which runs a smaller-scale consensus protocol. 

    Processing in parallel, such a network is capable of churning out hundreds of transactions per second per shard, for a total of thousands of transactions per second.


    As more nodes join, the network will become increasingly faster at validating transactions


    In a traditional database system, the solution to scalability is to add more servers (i.e. compute power) to handle the added transactions. In the decentralized blockchain world where every node needs to process and validate every transaction, it would require us to add more compute to every node for the network to get faster. 

    As a result, all public blockchain consensus protocols that operate in such a decentralized manner make the tradeoff between low transaction throughput and high degree of centralization. 

    In other words, as the size of the blockchain grows, the requirements for storage, bandwidth, and compute power required by fully participating in the network increases. 

    At some point, it becomes unwieldy enough that it’s only feasible for a few nodes to process a block — leading to the risk of centralization. In order to scale, the blockchain protocol must figure out a mechanism to limit the number of participating nodes needed to validate each transaction, without losing the network’s trust that each transaction is valid.

    Sharding in the blockchain world is similar to database sharding in traditional software systems. With traditional databases, a shard is a horizontal partition of the data in a database, where each shard is stored on a separate database server instance. This helps spread the load across different servers. 

    Similarly, with blockchain sharding, the overall state of the blockchain is separated into different shards, and each part of the state would be stored by different nodes in the network. Transactions that occur on the network are directed to different nodes depending on which shards they affect. 

    Each shard only processes a small part of the state and does so in parallel. In order to communicate between shards, there needs to be some message-passing mechanism. 

    Overall, sharding the blockchain requires us to create a network where every node only processes a small portion of all transactions, while still maintaining high security.. 

    Well, for one, the blockchain protocol assumes that all nodes in the network don’t trust each other. Still, the transactions need to agree on a common state despite being processed on different computers. 

    Since each node does not trust one other, it is not enough for a node processing transactions on shard A to simply say to the nodes processing transactions on shard B that a transaction occurred; rather, it would need to prove it to them somehow. 

    Additionally, since the goal of sharding is to not have every node validating every transaction, we need to figure out a mechanism that determines which nodes validate which shard in a secure way, without creating opportunities for an attacker who might have a lot of power in the system to disrupt the network.

    Another reason it’s difficult to implement sharding is because a transaction executed on the blockchain can depend on any part of the previous state in the blockchain, which makes it challenging to do things in parallel. Moreover, with parallelization, you now need a fool proof way to mitigate with race conditions and the like.

    Again--sharding is to automatically split up a large network of machines processing transactions into parallel sub-committees or “shards.”   

    Each shard processes its own microblock in parallel with other shards, and resulting micro-blocks are merged into one last one.   


    In its current state, today’s mainstream public blockchains aren’t suitable for running computation-intensive tasks. This is because any of the computation tasks would have to be repeated at all full nodes on the blockchain for validation. 

    Although they are secure, such a fully redundant programming model is prohibitively expensive for running large-scale computations.

    http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

    WE ASK MODI/ JAITLEY -- WHAT IS INDIAs POLICY ON BITCOIN?

    As the bitcoin price has surged, so has the supply of a digital token called tether. Tethers are tokens backed by US dollar deposits, with each tether always worth one dollar.

    This allows cryptocurrency traders to cash in and out of bitcoin quickly, using tethers to transfer proceeds to other exchanges or digital wallets while avoiding the lengthy process of converting the sums in and out of fiat currency.

    But the usefulness and legitimacy of tether rests on the claim by its issuer, a British Virgin Islands-based entity of the same name, that the tokens are indeed backed by dollar deposits.

    If the tokens aren’t fully backed by deposits, it means the bitcoin price could have been bid up by tokens that aren’t worth what they say they are.

    Questions about the company’s purported cash deposits are growing louder, as the bitcoin price surpassed $17,000 in intraday trading today. It began the year at around $ 900. The value of tethers in circulation is now more than $820 million.

    Tether has long had a murky relationship with Bitfinex, the world’s biggest bitcoin exchange by trading volume. Documents leaked as part of the Paradise Papers cleared things up: The two entities share the same operators, Phil Potter and Giancarlo Devasini.. Potter is chief strategy officer at Bitfinex and a director at Tether. Devasini is a director of both companies

    Neither Tether nor Bitfinex had confirmed their relationship. Their relationship provides a key channel for tethers to enter cryptocurrency markets.

    When tethers flow to the Bitfinex exchange, the price of bitcoin often appears to increase.
    Last August, Bitfinex lost nearly 120,000 bitcoins, worth about $60 million at the time, to a hack. It made customers take a 36% haircut on funds held with the exchange as a result.

    Tether reported a $30 million hack last month. Another major exchange, Bittrex, based in Washington, has caused alarm because some of its customers have been unable to withdraw their funds

    BITCOIN HISTORY:--

    May 2010 $0.01
    July 2010 $0.08
    April 2011 $1.00
    Dec 2011 $2.00
    Dec 2012 $13.00
    June 2013 $100
    Nov 2013 $350
    Mar 2014 $450
    Sept 2016 $600
    January 2017 $800
    April 2017 $1,210
    May 2017 $2,000
    August 2017 $4,400
    September 2017 $5,000
    13 October 2017 $5,600
    21 October 2017 $6,180
    6 November 2017 $7,300
    25 November 2017 $9,000 .
    28 November 2017 $10,000
    7th December 2017 $17,000

    TETHER MUST BE IMMEDIATELY AUDITED BY A PREMIUM AUDITOR TO VERIFY THAT IT HAS ENOUGH CASH IN RESERVE TO BACK ALL THOSE TOKENS.

    SUCH A BITCOIN RALLY IS IMPOSSIBLE UNLESSVESTED FORCED ARE DELIBERATELY PUMPING UP THE VALUE OF BITCOIN

    Capt ajit vadakayil
    ..



    The price of Bitcoin came close to hitting $20,000 today before settling down around a still-insane $17,000. The cost of one Bitcoin began the year around $900 and surprised investors when it first hit $10,000 just 9 days ago.

    The most lucrative ICOs are driven, not only by gullible rubes, but also by bitcoin millionaires who want to diversify their investments without paying tax by cashing out of cryptocurrencies, which would trigger a capital-gains tax. ICOs fulfill that need.

    Many ICO investors first convert their cash into bitcoin before buying tokens in a new cryptocurrency. As Tim Lee argues, this makes bitcoin the "reserve currency" of the crypto economy.

    Just as the U.S. dollar benefits from its status as the world's reserve currency, accepted worldwide in lieu of or in exchange for the local currency, the same is often true of bitcoin in cryptocurrency markets. 

    It's possible that these factors work together in a feedback loop, where bitcoin millionaires seeking diversification raise the profile of ICOs, which increase the value of bitcoin.

    Another factor in Bitcoin's recent explosion in value is the announcement that Bitcoin-based derivatives will launch on two major financial exchanges — the Chicago Board Options Exchange (CBOE) and the Chicago Mercantile Exchange CME — starting on December 10 2017

    The wild spikes in Bitcoin's value could reflect a deliberate ploy by investors trying to maximize their profits when they ultimately bet against, or "short," Bitcoin on the exchanges. Bitcoin players are pumping the price before betting against it and dumping their holdings.

    Since Bitcoin is a digital currency with no intrinsic value, it's worth as much as people think it's worth — and there might be a bit of herd mentality going on in that regard right now.

    Ethereum, Litecoin and other less famous cryptocurrencies aren't being lifted by the rising tide of Bitcoin, and no one really knows why. In the last 24 hours, bitcoin has left its erstwhile rivals in the dust, gaining 25% in value while the others have fallen anywhere from 3% to 10%.

    The tremendous growth of cryptocurrencies has created an exponential demand for computing power. As bitcoin grows, the math problems computers must solve to make more bitcoin (a process called "mining") get more and more difficult — a wrinkle designed to control the currency's supply.

    Today, each bitcoin transaction requires the same amount of energy used to power nine homes in the U.S. for one day. And miners are constantly installing more and faster computers. Already, the aggregate computing power of the bitcoin network is nearly 100,000 times larger than the world's 500 fastest supercomputers combined.

    For payment in Bitcoin on the DARKWEB , we could get a computer hacker to “destroy a business or a person’s life”, buy drugs, passports, cloned credit cards and counterfeit money or even order acid attacks, rape and murder.

    One truly disturbing site is Slayers Hitmen. The online agency claims to have 48 operatives worldwide who will inflict all sorts of physical attacks in return for Bitcoin. 

    An assassination by shooting costs the Bitcoin equivalent of £11,185. An acid attack is £3,000, rape £1,500 while a “scare” comes in at £750. The site asks for 50 per cent of the fee to be deposited upfront in an online Bitcoin wallet.

    Bitcoins only exist as lines of computer code and are created and stored online–and the surge in value means that criminals who had previously been paid in Bitcoin are seeing their wealth rise astronomically.

    Bitcoin’s rapid rise is fuelled by the fact there is a limited supply — only 21million will ever exist — and that it is completely unregulated by banks and governments, making it attractive for criminals or those who want to keep their transactions secret.

    We are seeing criminals using Bitcoin to buy drugs and firearms on the Dark Web and also laundering money with it.. Cash is hard to move for criminals but cryptocurrency is an easy way to move assets across borders

    Cryptocurrencies are not illegal, but they are unregulated, decentralised currencies that can be quickly transferred across borders then converted into the currency of the country where the funds are received

    Several major criminals who use Bitcoin and the Dark Web for “the supply of drugs, firearms, modern slavery and child exploitation”.

    Bitcoin terminals offer an easy way for drug dealers and other criminals to launder cash without having to go through any bank checks.

    They are stored in a virtual wallet on a PC or mobile phone app and can then be withdrawn from another Bitcoin machine in the local currency.

    This system makes the cash almost impossible to trace. There is a £400 limit on deposits, but there is no limit on how many deposits you can make and no identity checks

    After notes have been converted into Bitcoins, they can be moved anywhere in the world electronically then withdrawn as clean cash.

    There are more than 1,300 cryptocurrencies in use, with new ones emerging all the time.

    Regulation of crypto-currencies is long overdue so the funding of these activities by worldwide criminals, in even the darkest region of the web, ceases.  

    BUT. HEY MODI AND JAITLEY IS STRANGELY QUIET ..  


    SOMEONE ASKED ME--WHY DO YOU SAY THAT THE SUDDEN SURGE IN VALUE OF BITCOIN IS A CONJOB

    WELL FOR THIS YOU MUST UNDERSTAND HOW A BITCOIN MINING / BLOCKCHAIN SYSTEM WORKS

    YOU CANT HAVE BITCOIN JUMPING FROM 6500 USD ( WHEN I FIRST WROTE PART ONE OF THIS SERIES ) TO 17000 USD ( WHILE ON PART 14 OF THIS SERIES ) IN A VERY SHORT TIME JUST LIKE THAT

    http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

    Bitcoins grow in value when enough people possess them. This makes other people wanting Bitcoins-- making Bitcoins grow in value even more-- making even more people wanting Bitcoins-- making them grow in value even more-- and so on.

    IGNORANT PEOPLE ARE DUMBFOUNDED AND DONT KNOW WHAT THE FUCK IS HAPPENING --THEY PRETEND TO KNOW THE SYSTEM--SO THAT THEY CAN SHINE IN FRONT OF OTHERS .

    NOBODY DARES TO POINT OUT THE ELEPHANT IN THE ROOM. THEY DONT HAVE THE BALLS OR THE KNOWLEDGE

    BLOCKCHAIN IS NO ROCKET SCIENCE-- EVEN CUNTS CAN UNDERSTAND IT

    ###########

    LISTEN UP AND LISTEN GOOD

    In todays systems we depend on individual third-parties to establish trust between ourselves.The problem is that they are singular in number and if a chaos has to be injected in the society, all it requires is ONE person/organization to go corrupt, intentionally or unintentionally.

    Blockchain is a method to maintain that register among TWO parties cutting out the middleman.

    The requirement of this method is that there must be enough people who would like not to depend on a third-party and only then these people can maintain the register on their own.

    How many people is enough? Three at least. We will assume ten individuals want to give up on banks or any third-party for our example. They have details of each other’s accounts all the time upon mutual agreement, but they don’t know the other’s identity.

    Everyone contains an empty folder with themselves to start with and all these ten individuals will keep adding pages to their currently empty folders. And the register that tracks the transactions will be formed from this collection of pages.

    Everyone in the network sits with a pen and a blank page and in their hands and they are all ready to write any transaction that happens within the system.

    For example, #2 wants to transfer $10 to #9.

    To make the transaction, #2 shouts and tells everyone, “I want to send $10 to #9, so, everyone, please make a note of it on your pages.”

    Everyone checks if #2 has enough balance to send $10 to #9 and everyone then makes a note of the transaction on their blank pages if she has enough balance.

    We consider this transaction to be complete now.

    More people in the network feel the need to transfer money to others as the time passes. Whenever they want to make a transaction, they announce it to everyone else and as soon as a person listens to the announcement, (s)he writes it on his/her page.

    This exercise continues until everyone runs out of space on the current page and assuming a page has space to record ten transactions, everybody runs out of the space as soon as the tenth transaction is made.

    It’s time to put the page away in the folder and bring out a new page. After that, repeat the process from the step 2 above.

    We need to seal the page with a unique key that everyone in the network agrees upon before we put it away in our folders. By sealing it, we will make sure that no one can make any changes to it once its copies have been put away in everyone’s folder. Once in the folder, it will always stay in the folder — sealed, and moreover everyone trusts the contents of the page if everyone trusts the seal. The sealing of the page is the crux of this method.

    It is called MINING on the page to secure it. However, we’ll keep calling it ‘sealing for the simplicity of it.

    The middleman/third-party gave us the trust earlier that whatever they have written in the register will never be changed. This seal will provide the trust instead in a distributed and decentralized system like ours.

    https://www.youtube.com/watch?v=MAgA43WEKwA



    CONTINUED TO 2




    1. CONTINUED FROM 1-

      Imagine a machine surrounded by thick walls and if you send a box with something inside it from the left, it will spit out a box containing something else.

      This machine is called ‘Hash Function,’

      Suppose, you send the number 4 inside it from the left. We’d find that it spat out the following word on its right: ‘dcbea.’

      No one knows how it converted the number 4 to this word, but it is an irreversible process. Given the word, ‘dcbea,’ it is impossible to tell what the machine was fed on the left, but the machine will always spit out the same word, ‘dcbea’ every time you’d feed the number 4 to it.

      Let’s try sending in a different number, for example 26.

      Interesting! This time we got ‘94c8e’, which means that the words can contain the numbers too.

      What if I ask you the following question now:

      „What should I send from the left side of the machine such to get a word that begins with three leading zeroes from the right side of it, e.g. 000fa, or 00098, or 000ab, anything among the others.“

      It was extremely difficult to calculate the input given the output, but at the same time, it will always be incredibly easy to verify if the predicted input yields the required output. The machine spits out the same word for a number every time.

      If I give you a number, say 72533, and ask you the question: „When you feed the number into the machine, does it yield a word that begins with three leading zeroes?” how difficult do you think the answer is?

      Just throw the number in the machine and see what did you get on the right side of it and that’s it.

      The most important property of such machines is that — “Given an output, it is extremely difficult to calculate the input. However, given the input and the output, it is pretty simple to verify if the input leads to the output.”

      How to Seal a Page Using These Machines?

      We’ll use this magic machine to generate a seal for our page and we’ll start with an imaginary situation, like always.

      Imagine you get two boxes from me and the first box contains the number 20893. After that, I ask you: „Can you calculate a number that, when added to the number in the first box and fed to the machine, will give us a word that begins with three leading zeroes?”

      This is a similar situation as we had previously. We have learned that by trying every number available in the whole universe is the only way to figure out such a number.

      We’ll stumble upon a number, say 21191, after several thousand attempts. This number, when added to 20893 (i.e. 21191 + 20893 = 42084) and fed to the machine, will yield a word that satisfies our requirements.

      This number, 21191 becomes the seal for the number 20893 in such a case. Suppose there is a page that contains the number 20893 written on it. We will put a badge labelled ‘21191’ on top of it to seal that page (i.e. no one can change the contents of it). The page is sealed once the sealing number (i.e. 21191) is stuck on it.

      The sealing number is called ‘Proof Of Work.’ This means that this number is the proof that efforts had been made to calculate it. But for our purposes, we are good with calling it ‘sealing number.’

      All that you need to do to verify whether the page was altered is to add the contents of the page with the sealing number and feed to the magic machine. The contents were untouched if the machine gives out a word with three leading zeroes. We can throw away the page if the word that comes out doesn’t meet our requirements because its contents were compromised, and are of no use.

      We’ll seal all our pages using a similar sealing mechanism and eventually arrange them in our respective folders.

      We’ll need to figure out a number that when appended to the list of transactions and fed to the machine, we get a word that begins with three leading zeroes on the right to seal our page that contains the transactions of the network.

      CONTINUED TO 3

    2. CONTINUED FROM 2-

      Note: The phrase ‘word starting with three leading zeroes’ is used only as an example. It illustrates how Hashing Functions work, but the real challenges are much more complicated than this.

      Once that number is figured out after spending time and electricity on the machine, the page is sealed with that number. The sealing number will allow anyone to verify the integrity of the page if someone tries to change the contents of the page.

      Now it’s time to go back to the time when we had finished writing the tenth transaction on the page, and we ran out of space to write more.

      As soon as everyone runs out of the page to write further transactions, everyone in the network indulge in calculating the sealing number for the page so that it can be tucked away in the folder and the first one in the network to figure out the sealing number announces it to everyone else.

      Instantly, on hearing the sealing number, everyone verifies if it yields the required output or not and, if it does, everyone labels their pages with this number and put it away in their folders.

      But what if the sealing number that was announced doesn’t yield the required output for someone, say #7. Such cases are not unusual and the possible reasons for this could be:

      The transactions that were announced in the network might have been miswritten.
      The transactions that were announced in the network might have been misheard.
      When writing transactions he might have tried to cheat or be dishonest, either to favor himself or someone else in the network.
      #7 has only one choice — to discard his page and copy it from someone else so that he too can put it in the folder. He cannot continue writing further transactions unless he doesn’t put his page in the folder. This means that he is no longer part of the network.

      Then why not sit idle and wait for the announcement and why does everyone spend resources doing the calculation when they know that someone else will calculate and announce it to them?

      Interesting question because this is where the incentives come in the picture. Everyone who is the part of the Blockchain is eligible for rewards and the first one to calculate the sealing number gets rewarded with free money for his efforts (i.e. expended CPU power and electricity).

      Simply imagine, #5 gets rewarded with some free money, say $1 if he calculates the sealing number of a page. The money gets minted out of thin air, which means the account balance of #5 gets incremented with $1 without decreasing anyone else’s account balance.

      That’s how Bitcoin got into existence, because it was the first currency to be transacted on a Blockchain. And in return, people were awarded Bitcoins to keep the efforts going on in the network.

      capt ajit vadakayil
      ..








  • SOMEONE ASKED -

    WHAT IS THIS BULLSHIT ABOUT THE LONGEST CHAIN ALWAYS BEING THE HONEST CHAIN

    As a new blank page comes up, once everyone tucks away the page in their folders. The whole process is repeated all over again — doing it forever.

    Think of a single page as a Block of transaction. Also, think of the folder as the Chain of pages (Blocks), therefore, turning it into a Blockchain.

    And that is how Blockchain works.

    Imagine there are five pages in the folder already. They are all sealed with a sealing number. If I go back to the second page and modify a transaction to favor myself the sealing number will let anyone detect the inconsistency in the transactions. Or what if I go ahead and calculate a new sealing number too for the modified transactions and use that number to label the page?

    There’s a little twist to how a sealing number is calculated to prevent this problem of someone going back and modifying a page (Block) as well as the sealing number.

    Remember how we referred to two boxes?  One box contained the number 20893 and another was empty for you to calculate. In reality, instead of two boxes, there are three to calculate the sealing number in a Blockchain. Two are pre-filled and one to be calculated.

    The answer that comes out from the right side must satisfy the required conditions when the contents of all those three boxes are added and fed to the machine.

    One box contains the sealing number, one box will contain the list of transactions and the third box will contain the output of the magic machine for the previous page.

    We have made sure that every page depends on its previous page with this neat little trick. Therefore, if someone has to modify a historical page and keep the chain consistent, he would also have to change the contents and the sealing number of all the pages after that.

    If one individual tries to cheat and modify the contents of the Blockchain (the folder containing the pages with the list of transactions), he would have to adjust several pages and also calculate the new sealing numbers for all those pages. Therefore, one dishonest individual in the network cannot beat the nine honest individuals because we know how difficult it is to calculate the sealing numbers.

    What will happen is, from the page the dishonest individual tries to cheat, he would be creating another chain in the network. However, one individual’s efforts and speed cannot beat cumulative efforts and speed of nine so that chain would never be able to catch up with the honest chain. This means that the longest chain in a network is the honest chain.

    BUT IF YOU WRAP YOUR HEARD AROUND ALL THIS-- MINING POOL MAFIA CAN CHEAT --AS IF HAPPENING BOW


    If any collective group of miners ( KOSHER pool) were ever able to account for 51% of the total hashing power on the network, those miners would be able to exert significant power over the entire blockchain

    51% attack refers to an attack on a blockchain – usually bitcoin's, for which such an attack is still hypothetical – by a group of miners controlling more than 50% of the network's mining hashrate, or computing power.

    The attackers would be able to prevent new transactions from gaining confirmations, allowing them to halt payments between some or all users. They would also be able to reverse transactions that were completed while they were in control of the network, meaning they could double-spend coins.

    CONTINUED TO 2-

  • CONTINUED FROM 1--

    Majority holding miners can prevent other miners from mining valid blocks and earn its rewards. It would corrupt the blockchain and render the whole system unsafe

    If an POOL owns 51% of the total computing power of the Bitcoin network to reverse any transaction you feel like and have total control of transactions which would appear in blocks.

    This is the 51% attack. Ideally a miner may need up to 65% of the network mining power (hashrate) or more. But, that’s too ambitious a number to be allowed to be acquired by an individual.

    In 2016, CREW 51 specifically targeted smaller Ethereum based blockchains and held it for ransom. They claimed to have in possession 7000-8000 blocks which they would fork, if their demands weren’t met. As no deals were struck, they gained money by double-spending the coins in their possession. They also, hijacked the blockchain leading to losses.

    In Aug 2016, Krypton blockchain was attacked twice by an anonymous group known as the 51 crew. The first step was overpowering the network with at least 51 percent of the hashing power to enable a roll back on transactions, and subsequently spending the same coins twice. The second step was employing DDoS nodes to increase network power.

    n typical "proof of work" networks like bitcoin, a lot of computing power is spent to prove that a transaction is genuine. If more than 50% of the bitcoin network participants agree to a block, it is deemed as accepted.

    In this situation, anyone who can hack into machines and divert the computing power to his own account can control large pieces of the network. This would allow the hacker to create a chain longer than the authentic chain, essentially allowing a dual transaction.

    To mitigate this, many platforms are moving towards "proof of stake" consensus. That ensures that instead of computing power, the ability to ratify a transaction is dependent on the stake the participants have in the network.

    capt ajit vadakayil
    ..




  • What could be the role of a coin in a blockchain?

    A way of monetization for founders
    A stake of the particular blockchain startup
    An accounting method, a digital asset
    A reward method for miners
    A preventive method that stops double spending in PoS and PoW
    A payment method between participants
    A membership fee


    Any proof of stake blockchain does not need a coin. Rather, what is needed is an ideal payment method (or currency) which is recognized by everybody. This universally acknowledged payment method would allow for the handling of security deposits by the miner (security of proof of stake mainly relies on confiscating a stake in case of misbehavior)




    FBA blockchains (Ripple, Stellar) don’t need a coin at all. In this scenario coin neither increases stability nor effectively defeats spam. Validators are not paid with the fees in any case. They can use any existing coin (bitcoin, ether, etc.) to execute settlements with the highest efficiency.


    Private blockchains don’t need a coin by default. Although they can operate based upon a digital asset (representing fiat), or some synthetic currency (e.g., SDRs issued by the IMF). But, until this blockchain becomes the primary source of information about fiat accounts, they must always be backed by something.



    http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

    SOMEONE ASKED ME

    WHO IS THE MAFIA PUMPING UP THE VALUE OF BITCOIN--AND WHY?

    WELL IT IS FOR SURVIVAL ( in this peabrained system ) AND IT IS AN INSIDE JOB !

    SMALL TIME PRIVATE MINERS HAVE ALL MELTED AWAY , AS IT IS NO LONGER PROFITABLE --OR JOINED MAFIA MINING POOLS .

    The current fiat price of Bitcoin is; critical for calculating profitability –read this line a hundred times .

    Mining is NOT profitable at a small scale unless you have access to really cheap electricity ( or you are stealing electricity ).

    PoW hashing ensures the proper function of the Bitcoin blockchain. Miners compete to solve a cryptographic “puzzle,” known as a hash.

    There are no shortcuts in this process, which can only be solved with raw computational power.

    By correctly hashing the current block, miners prove their investment of work and are rewarded with a certain number of newly-created bitcoins.

    The number of newly-created bitcoins, awarded to whichever miner creates a block.

    This number was initially set to 50, halved to 25 in late-2012, and halved again to 12.5 in mid-2016. The next halving event expected is around mid-2020.

    This halving process will continue in this fashion, halving the block reward approximately every four years / 210,000 blocks, until all 21 million bitcoins are created.

    Achieving the block reward is the only valid way in which new bitcoins can be created; by miners according to the code’s rate and limit.

    Hashrate is the measure of a miner’s computational power.

    The higher their relative power, the more solutions (and hence, block rewards) a miner is likely to find.

    In early 2017, Bitcoin’s collective hashrate reached nearly 4 Exahash. This represents a tremendous investment into mining hardware, the R&D of such hardware, and electrical expenditure.

    With hashrate shooting up over the years, it would seem blocks would be found by miners ever more rapidly.

    Bitcoin’s Difficulty measure is what prevents this from happening. It adjusts to hashrate to ensure that blocks are found roughly every 10 minutes.

    When total hashrate rises, the Difficulty of POW hashing adjusts upwards – and the inverse also applies.

    Difficulty auto-adjusts every two weeks (or 2016 blocks).

    Unless you command a tremendous hashrate, your odds of solving a block by yourself (i.e. “solo-mining”) are extremely low.

    By banding together with other miners in a so-called pool, your combined odds of solving a block rise proportional to the pool’s total hashrate.

    Whenever they solve blocks, pools reward individual miners according to their contributed hashrate (minus commissions and the like).

    PRIVATE MINING WILL DIE UNLESS THE BITCOIN VALUE IS KEPT ARTIFICIALLY HIGH--AND THEN MAFIA POOLS WILL TAKE OVER.

    There is this ever-changing nature of the Difficulty modifier and danger of low Bitcoin value—which reduces miners’ incentive.

    The AntMiner S9 is a modern mining rig which offers a good hashrate for its power consumption.

    Bitcoin’s total hashrate – and thus its difficulty, has been consistently rising since the early years

    Some big, corporate KOSHER miners found their profit margins under threat from the resulting steep spike in competition. Indeed, in mid-2016, Swedish Bitcoin mining firm KnCMiner declared bankruptcy.

    The primary reason for the closing was the upcoming reduction to just 12.5 bitcoins per block mined. Without a significant increase in Bitcoin price, and a high Swedish energy tax, the board of directors and the company’s investors decided to get the HELL out while it was still possible.

    Imagine now--why HOME mining is literally dead-- with some APUN BHI MONER CUNTS in India still chugging along on SNAIL equipment --not knowing if they are coming or going

    The rate of obsolescence in Bitcoin mining hardware is quite fast! New, more efficient mining hardware ( SUPER EXPENSIVE ) may be released at any time, although we are reaching the technological limits of improved efficiencies.

    CONTINUED TO 2



    1. CONTINUED FROM 1-

      The average home miner has found it IMPOSSIBLE to rake in moolah to even recoup the cost of mining hardware and electricity.

      The situation may improve in future once ASIC mining hardware innovation reaches the point of diminishing returns.

      What, or who, adjusts the difficulty target of solving the cryptographic puzzle (every 2 weeks) to add the new block to the Bitcoin blockchain?

      The network does.

      Every two weeks (or 2016 blocks), the Bitcoin software does a calculation across all created blocks to see how long it took to create them. If the average block creation time is <10 difficulty="" if="" increased.="" is="" it="" minutes="" s="" the="">10 minutes, the difficulty is lowered.

      The reason this needs to be done is because the hashing power on the network is dynamic. New miners can come online and drop off as they please. In order to adjust for this variation, the network has to keep recalculating the optimal network difficulty through this process

      With the value of bitcoin soaring to new heights — more than US$ 17,000 ( two days ago ) — you may be tempted to invest in the latest equipment necessary AGAIN to begin “mining” for it. But while bitcoin mining echoes the Gold Rush of the 1850s, it may take a bit more than simply showing up, pan in hand.

      Mining bitcoin is how this cryptocurrency is released to the world. For you to mine bitcoin, you must attempt to complete a “block” containing recent bitcoin transactions. These transactions are recorded in a digital ledger called blockchain. Once a block is complete, a specified amount of bitcoin is given as a reward.

      Bitcoin miners across the globe race to solve a computational puzzle — called a “hash” — that will add the next block to the blockchain. Once the block is validated, a miner is issued a “block reward.”

      A block reward is an amount of bitcoin given to the person who adds a new block to the blockchain. This amount is cut in half every time 210,000 blocks are solved. In 2009, the block reward began at 50 bitcoin per block. That value was halved to 25 in 2013 and was further reduced to 12.5 in 2017.

      Once miners receive bitcoin, they are given a digital key to the bitcoin addresses. You can use this digital key to access and validate or approve transactions.

      You can keep these digital keys safe with a number of wallet options:

      Desktop wallets. Software like Bitcoin Core allows you to send and store bitcoin addresses and also connects to the network to track transactions.

      Online wallets. Bitcoin keys are stored online by exchange platforms like Coinbase or BTC Market and can be accessed from anywhere.
      Mobile wallets. Apps like Blockchain store and encrypt your bitcoin keys so that you can make payments using your mobile device.

      Paper wallets. Some websites offer paper wallet services, generating a piece of paper with two QR codes on it. One code is the public address at which you receive bitcoin and the other is your private address you can use for spending.

      Hardware wallets. You can use a USB devices created specifically to store bitcoin electronically and your private address keys.

      Yes, people will be willing to make money mining bitcoin ( only if the vaue is pumped high artificially ) . The wildly fluctuating BUBBLE has made large nations wary--and this does not augur well for Bitcoin driven Blockchain.

      With the value of 1 bitcoin rising to over US$ 17000, a block reward of 12.5 bitcoin is a lot of money. When mining first began, there was less competition, and to complete a block required a lot less power. Mining could be done using CPUs found on standard desktop computers.

      Making money mining bitcoin is much more difficult today. Some of the issues contributing to this difficulty include:


      CONTINUED TO 3-

    2. CONTINUED FROM 2--

      Hardware prices. The days of mining using a standard CPU or graphic card are gone. As more people have begun mining, the difficulty of solving the puzzles has too increased. ASIC microchips were developed to process the computations faster and have become necessary to succeed at mining today. These chips can cost US$3,000 or more and are guaranteed to further increase in cost with each improvement and update.

      Rise in corporate miners. Hobby miners must now compete with for-profits — and their bigger, better machines — when mining to make a buck.

      Power costs. Running mining equipment all day long can consume a lot of electricity, which you’ll need to weigh up against any mining profits generated.

      Puzzle difficulty. Bitcoin’s protocol adjusts the computational difficulty of the puzzles to finish a block every 2,016 blocks. The more computational power put toward mining, the more difficult the puzzle.

      It came to a stage where only HUGE KOSHER POOLS were making money.These collectives pool the resources of its members and then divide the block reward according to shares. The pool gives these shares to members who can prove how their mining equipment contributed to completing the block-- a mafia controls this

      The mining pool is an arena that will help the Bitcoin miners to share cost the price of a platform. They unite as a team, and once they make money, they have a predetermined KOSHER way of sharing it.

      Pooled mining is a mining approach where multiple generating clients contribute to the generation of a block, and then split the block reward according the contributed processing power. Pooled mining effectively reduces the granularity of the block generation reward, spreading it out more smoothly over time.

      With increasing generation difficulty, mining with lower-performance devices can take a very long time before block generation, on average. For example, with a mining speed of 1000 Khps, at a difficulty of 14484 (which was in effect at the end of December, 2010), the average time to generate a block is almost 2 years.

      To provide a more smooth incentive to lower-performance miners, several pooled miners, using different approaches, have been created. With a mining pool, a lot of different people contribute to generating a block, and the reward is then split among them according to their processing contribution. This way, instead of waiting for years to generate some measly coins ( like Oliver Twist waiting for his gruel ) , a smaller miner may get a fraction of a Bitcoin on a more regular basis.

      A share is awarded by the mining pool to the clients who present a valid proof of work of the same type as the proof of work that is used for creating blocks, but of lesser difficulty, so that it requires less time on average to generate.

      The problem with pooled mining is that steps must be taken to prevent cheating by the clients and the server.

      Many people read about mining pools and think it is just a group that pays out free bitcoins. This is not true! Mining pools are for people who have mining hardware to split profits.

      Many people get mining pools confused with cloud mining. Cloud mining is where you pay a service provider to miner for you and you get the rewards.

      Bitcoin mining tends to gravitate towards countries with cheap electricity.

      As Bitcoin mining is somewhat centralized, a dozen mining companies have claimed the vast majority of network hash power.

      With many of these companies in the same country, only a number of countries mine and export a significant amount of bitcoins.

      China mines the most bitcoins and therefore ends up “exporting” the most bitcoins.

      CONTINUED TO 4--

    3. CONTINUED FROM 3--

      One of the big selling points of Bitcoin is that it's meant to be decentralised but it doesn't look like this plays out. Proof of work seems to inevitably lead to all the power going to MAFIA parties that can afford specialised hardware who are in countries with low electricity costs.

      In order to successfully 51% attack Bitcoin network, all that's needed is a combined hashrate higher than the genuine hashrate.

      When Bitcoin driven Blockchain was born--nobody had the BRAINS to figure out its inherent weakness --that the system is susceptibileto fraud if a group of nefarious KOSHER miners control a significant portion of compute power on chain, because verification is based on consensus. Jews getting rich without working has been the story of this planet , right ?

      Bitcoin uses SHA-256 for encryption. If this algorthim is cracked ( by an INSIDE JOB ) then bitcoin is doomed.

      SHA-256 and ECDSA are considered very strong currently, but they WILL be broken in the near future. If that happens, Bitcoin MUST shift to a stronger algorithm.

      An attacker that controls 51% of the network's computing power can, for the time that he is in control, exclude and modify the ordering of transactions. This allows him to:-----
      Reverse transactions that he sends while he's in control. This has the potential to double-spend transactions that previously had already been seen in the block chain.
      Prevent some or all transactions from gaining any confirmations
      Prevent some or all other miners from mining any valid blocks

      The attacker can't:-----
      Reverse other people's transactions without their cooperation
      Prevent transactions from being sent at all (they'll show as 0/unconfirmed)
      Change the number of coins generated per block
      Create coins out of thin air
      Send coins that never belonged to him

      Note that the above limitations only apply to the perspective of Bitcoin as seen by full nodes. Some lightweight nodes work by trusting miners absolutely; from the perspective of Bitcoin as seen by lightweight nodes, miners can steal BTC, etc. This is one of the reasons why lightweight nodes are less secure than full nodes.

      With less than 50%, the same kind of attacks are possible, but with less than 100% rate of success. For example, someone with only 40% of the network computing power can overcome a 6-deep confirmed transaction with a 50% success rate

      It's much more difficult to change historical blocks, and it becomes exponentially more difficult the further back you go. As above, changing historical blocks only allows you to exclude and change the ordering of transactions. If miners rewrite historical blocks too far back, then full nodes with pruning enabled will be unable to continue, and will shut down; the network situation would then probably need to be untangled manually (eg. by updating the software to reject this chain even though it is longer).

      Since this attack doesn't permit all that much power over the network, it is expected that rational miners will not attempt it( OH YEAH ? ).

      A profit-seeking miner should always gain more by just following the rules, and even someone trying to destroy the system might find other attacks more attractive. Probably the most likely scenario where this attack would be employed would be for a government to try to get control over Bitcoin by acquiring a majority of hashing power (either directly or by enforcing rules on private miners within its borders). Then this government could use the transaction-censorship power listed above to do things like:---

      CONTINUED TO 5-

    4. CONTINUED FROM 4--

      Prevent any transactions spending "stolen" coins, effectively destroying those coins. If the coins clearly are stolen, then there is a risk that this action will be accepted by the Bitcoin community, but this would set a very damaging precedent. If it becomes possible for coins to be blacklisted in this way, then it is a slippery slope toward blacklisting of other "suspicious" coins.

      Prevent all transactions from unknown people, so everyone has to register with the government in order to transact.

      The appropriate response to any long-term attack by miners is a hardfork to change the proof-of-work function. This fires all existing miners, and allows totally new ones to replace them.

      It is illegal in some countries to possess/distribute certain kinds of data. Since arbitrary data can be included in Bitcoin transactions, and full Bitcoin nodes must normally have a copy of all unspent transactions, this could cause legal problems. However, Local node policy generally doesn't permit arbitrary data (transactions attempting to embed data re non-standard), but steganographic embedding can still be used though this generally limits storage to small amounts.

      Bitcoin was officially released by an unknown person who used a Japanese pseduonym, 5 days before Obama was elected. This person does not exist.

      Secondly, bitcoin mining is designed to solve hashes in the SHA-256 algorithm. SHA-256 is a 256-bit version of an algorithm that is used to encrypt messages sent over the internet.


      The NSA invented SHA-256.

      SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions designed by the United States National Security Agency (NSA). Cryptographic hash functions are mathematical operations run on digital data; by comparing the computed "hash" (the output from execution of the algorithm) to a known and expected hash value, a person can determine the data's integrity.

      For example, computing the hash of a downloaded file and comparing the result to a previously published hash result can show whether the download has been modified or tampered with. A key aspect of cryptographic hash functions is their collision resistance: nobody should be able to find two different input values that result in the same hash output.

      As people's computers mine bitcoins, they are discovering solutions to SHA-256 hashes, which then get stored in to the blockchain, which is a digital record and repository of all activity within bitcoin to date.

      Each block is like one SHA-256 puzzle, that the computers try to solve. The only way to solve it is to guess the right answer randomly out of billions or trillions of choices. There is no algorithm or method to find the right solution other than guessing and then doing the computation to see if you were correct or not, due to how the algorithm is constructed (which is exactly what makes it good for security). So when computers mine for bitcoins, they are guessing solutions to that particular block's SHA-256 puzzle. When a solution is found, 12.5 bitcoins are rewarded to the miner who found the solution.

      So it's a lottery of sorts. This is why people pool together to form mining pools, where the winnings are shared proportionally among everyone, weighted by their total number of attempted solutions. That helps take the luck out of it so everyone can get more reliable income.

      Anyway, these solutions are so hard to find that even with all the computers across the world mining for bitcoins, it still takes 10 minutes to solve just one single puzzle.

      This is why it's CONSIDERED secure.

      CONTINUED TO 6--



      1. CONTINUED FROM 5--


        If you want to hack a system that uses SHA-256 (which is a very encryption common system to use, alongside SHA-128 which is even weaker) then hacking it CONSIDERED difficult because you have to guess over and over to solve this large prime number problem.

        However, if you have a list of all the prime numbers and their solutions (including many really huge numbers that haven't been computed except for this list) then that is a speedup to cracking a particular system using SHA-256, because you don't have to run all those calculations, you can simply look them up. In the blockchain.

        So there is a potential the blockchain is an open distributed-computing SHA-256 solution repository, which enables hackers who know how to use it (like the NSA).

        IN INDIA WE DO NOT RELY OF IMPORTED CHIPS ANYMORE BECAUSE THEY HAVE BACKDOORS IMPLANTED --MISSILES WILL NOT REACH THEIR TARGETS IN WAR.

        NSA can spy on us - and hack or bypass SSL, SSH, PGP, etc-- we can expect NSA to PLANT weaknesses into systems.

        The National Security Agency (NSA) is a national-level intelligence agency of the United States Department of Defense, under the authority of the Director of National Intelligence. The NSA is responsible for global monitoring, collection, and processing of information and data for foreign intelligence and counterintelligence purposes, specializing in a discipline known as signals intelligence (SIGINT). The NSA is also tasked with the protection of U.S. communications networks and information systems.

        The NSA relies on a variety of measures to accomplish its mission, the majority of which are CLANDESTINE.

        BILDERBERG CLUB LOVES BITCOIN DRIVEN BLOCKCHAIN!

        THEY LOVE MODI AND JAITLEY TOO.

        HUMARA KOSHER BANANA KITHE ?

        SCRATCH SCRATCH !

        SO SO SO

        THE PRESIDENT CAN BE IMPEACHED IF 51% OF THE MEDIA SAYS HE DESERVED TO BE IMPEACHED 

        WE THE STUPID PEOPLE THINK THAT THERE MUST BE ONE LAKH INDEPENDENT AND FREE MEDIA OUTFITS

        WHAT IS THE NAKED TRUTH ?

        JEW ROTHSCHILD OWNS 90% OF THE WORLD MEDIA

        51%
        IS BAAYE HAATH KA KHEL FOR HIM!


        BRAAAAYYYYYYYYYYYY !

        LET US ALL DANCE TO THE SONG BELOW--

        https://www.youtube.com/watch?v=wnZXyJujNU4

        Capt ajit vadakayil
        ..
    1. http://ajitvadakayil.blogspot.in/2017/11/blockchain-proof-of-elapsed-time-intel.html

      WHEN ARE WE JUMPING OFF THE DEEP END INTO BLOCKCHAIN ULU ( OR IS IT UDU ?)

      ANYBODY HEARD OF SHA-256 AND NSA ?

      KAUN SA KHET KA BEET ROOT HAI YEH ?

      ##################

      SEND THIS COMMENT TO --
      AJIT DOVAL
      DEFENCE MINISTER
      ALL 3 ARMED FORCE CHIEFS
      ARUN JAITLEY
      RBI GOVERNOR
      SBI CHAIRMAN
      CJI
      LAW MINISTER
      PMO
      PM MODI
      SWAMY
      GURUMURTHY
      SMRITI IRANI ( LET HER THINK IT IS A NEW SONG TO DANCE TO -LEST SHE SAY, IT IS NOT MY JOB AS USUAL )
      SUSHMA SWARAJ
      EDUCATION MINISTER
      SUSHMA SWARAJ
      I&B MINISTRY
      HOME MINISTER
      YOGI ADITYANATH
      FAYE SORPOTEL BABY --THERE IS MORE TO JOURNALISM THAN POTHOLES AND VVIP RACISM

      I ASK --WHAT IS OUR BENAMI MEDIA WORTH?

      capt ajit vadakayil
      ..









  • So there is a potential the blockchain is an open distributed-computing SHA-256 solution repository, which enables hackers who know how to use it (like the NSA).

    This, in block chain, is the last thing a rutta maar mind would think, first doubt that comes to the intuitive.

  • hi tc,

    CAPT AJIT VADAKAYIL DECLARES-- NSA IS SATOSHI NAKAMOTO

    Satoshi Nakamoto means “Central Intelligence” in Japanese --Satoshi is "quick witted " --Nakamoro is "Central " --people with this surname are found mostly in the Ryukyu islands 

    Bitcoin IS the ‘one world currency’ of KOSHER BIG BROTHER .

    BIG BROTHER CAN MONITOR AND MANIPULATE EVERYTHING ON THIS PLANET.. HE HAS EVERYTHING ENGRAVED ON STONE EXCEPT WHEN HE WANTS STONE TO BECOME SOFT LIKE BUTTER--AT HIS CONVENIENCE

    In the bitcoin website they say in BIG letters - “Bitcoin is not anonymous” 

    THE WHITE MAN WILL NEVER ALLOW THE BROWN MAN TO LORD OVER HIM.. INDIA WILL BE THIS PLANETs NO 1 SUPERPOER IN 16 YEARS.

    WE KNOW THE DESH DROHI BASTARDS WHO WANT LAND / DEFENCE/ FINANCE TO BE INTEGRATED INTO BLOCKCHAIN

    WE KNOW THE WHITE JEWS WHO WERE PUSHING CORRUPT / NAIVE INDIAN POLITICIANS TO EARLY ADOPTION OF BLOCKCHAIN FOR FINANCE AFTER MERGING ALL SMALL EFFICIENT INDIAN BANKS INTO A INEFFICIENT BEHEMOTH TO BE BLOCKCHAINED 

    ALMOST ALL OUR PAST RBI GOVERNORS WERE HANDPICKED BY JEW ROTHSCHILD AND BILDERBERG INNER CLUB

    http://ajitvadakayil.blogspot.in/2011/09/shrewd-club-within-naive-bilderberg.html


    THE WHITE MAN CAN DO HONI OUT OF ANHONI AND ANHONI OUT OF HONI -IF WE DO THIS

    Bitcoin was officially released by an unknown person who used a Japanese pseduonym, Satoshi Nakamoto, 5 days before Obama was elected. 

    This person does not exist. The person alluded to, said several times that he did not found Bitcoin.

    Meanwhile several white con-men have claimed to be Satoshi Nakamoto. 

    Craig Steven Wright an Australian computer scientist and businessman claimed be the real person behind the pseudonym Satoshi Nakamoto, which is bullshit.

    Bitcoin mining is designed to solve hashes in the SHA-256 algorithm. SHA-256 is a 256-bit version of an algorithm that is used to encrypt messages sent over the internet. The NSA invented SHA-256.

    SHA-2 (Secure Hash Algorithm 2) is a set of cryptographic hash functions designed by the United States National Security Agency (NSA).

    Cryptographic hash functions are mathematical operations run on digital data; by comparing the computed "hash" (the output from execution of the algorithm) to a known and expected hash value, a person can determine the data's integrity. ( but with the BACKSIDE OPEN to make ANHONI OUT OF HONI and viceversa )

    As people's computers mine bitcoins, they are discovering solutions to SHA-256 hashes, which then get stored in to the blockchain, which is a digital record and repository of all activity within bitcoin to date.

    Each block is like one SHA-256 puzzle, that the computers try to solve. 

    When computers mine for bitcoins, they are guessing solutions to that particular block's SHA-256 puzzle. When a solution is found, 12.50 bitcoins are rewarded to the miner who found the solution. So it's a lottery of sorts 

    BUT LOTTERIES ARE RIGGED BY INSIDERS WHO KNOW HOW THIS WORKS --this is why everything is kept deliberately complicated.

    Miners pool together to form mining pools, where the winnings are shared proportionally among everyone, weighted by their total number of attempted solutions. That helps take the luck out of it so everyone can get more reliable income.

    If you have a list of all the prime numbers and their solutions then that is a speedup to cracking a particular system using SHA-256, because you don't have to run all those calculations, you can simply look them up. In the blockchain.

    The blockchain is an open distributed-computing SHA-256 solution repository, which enables hackers who know how to use it (like the NSA).

    NSA has a backdoor to the SHA-256 algorithm

    NSA HAS A BAD TRACK RECORD

    CONTINUED TO 2-

  • CONTINUED FROM 1-

    All Bitcoin transactions are stored publicly and permanently on the network, which means anyone can see the balance and transactions of any Bitcoin address. However, the identity of the user behind an address remains unknown until information is revealed during a purchase or in other circumstances. This is one reason why Bitcoin addresses should only be used once.

    The Fiat money system is doomed, all what you can read online is true (just sensationalized) – it’s a debt based system based on nothing. That system was created, originally in the early 1900’s and refined during Breton Woods 

    JEW Adam Smith is the hero of Amartya Sen's Rothschild JEWESS wife.

    Adam Smith was the "one man think tank" to the owner of British East India Company Rothschild who ruled India . Adam Smith advises Rothschild on how to set up his banking cartel and set up a blue print on how to control the world. 

    PM Chandrasekhar was reduced to selling our Gold in 1991, and World Bank and IMF would NOT give a loan unless Manmohan Paaji was made Finance Minister. And later Italian Queen Bee Sonia would NOT have anyone else except "unelected" Manmohan Paaji as PM-- going against the Indian Constitution for a democracy.

    Rothschild had done the same with SIR Chintaman Dwarakanath Deshmukh ( won Magsaysay award twice ) who was knighted in 1944 just because he had a Jew British wife. 

    Rothschild would NOT give India a loan to procure wheat from USA unless our JEW SIR Chintamani baby was made Finance Minister of India. 

    Rothschild used Edwina to arm twist Nehru and install him as the Finance Minister in the Union Cabinet (1950–1956).

    SIR Chintaman Dwarakanath Deshmukh attended the Breton Woods Conference to create IMF on invitation of Rothschild in July 1944 . ) Rothschild liked this Chitpavan JEW and he was a member of the Board of Governors of both of IMF for the next ten years


    Rothschilds controls the US Federal reserve, all the Central banks of all the countries of the world --except Libya, Syria, Iran, North Korea and Cuba. Libya has been taken out. The next in the pecking order is Syria ( failed thanks to IRON MAN Putin ) --then Iran.

    Opium traders Rothschild took over India officially vide the Battle of Plassey in 1757 , and stopped all pretense of being traders, by amazing deceit which sprung from the warped brains of GAY ANAL SEX RECEIVING JEW Adam Smith.. 

    Adam Smith was MAD --he has extreme OCD - his house used to look like a garbage dump as he hoarded everything.

    When such people with OCD write the gospel of economics, " The Wealth Of Nations" you know what you will get. 

    Much later Milton Friedman effectively took many of the basic principles set forth by Adam Smith and the classical economists and modernized them. 

    http://ajitvadakayil.blogspot.in/2016/06/gpi-dog-shall-wag-gdp-tail-not-vice.html


    INDIA HAS TO SACK 90% OF OUR PREMIUM BUSINESS SCHOOL ECONOMICS PROFESSORS

    RIGHT NOW DONALD TRUMP IS CROWING ABOUT RISE OF GDP AND GROWTH-- THIS INCLUDES EXPENSES FOR PUTTING OUT FOREST FIRES, RECOVERING AFTER TWO MAJOR HURRICANES, MONEY SPENT IN PURSUING CRIMINALS AND CONTAINING THEM IN JAILS, BUILDING THE MEXICO WALL ETC 

    This is the reason why economists fall into the same hole again and again and again.

    http://ajitvadakayil.blogspot.in/2011/02/are-you-mentally-sick-capt-ajit.html

    The Battle of Plassey itself is a huge lie. It never took place. History was fudged. It is so easy when you control the peer reviewed media and publishing houses. 

    http://ajitvadakayil.blogspot.in/2011/07/back-swing-of-john-galt-capt-ajit.html

    Bitcoin is not the ‘one world currency’ per se, but laying the framework for larger cryptocurrency projects. In the case of central banks, who control the global monetary system, that would manifest in ‘Settlement Coin’ 

    CONTINUED TO 3-

  • CONTINUED FROM 2--

    NSA/CIA works for KOSHER BIG BROTHER .. it was kept under wraps till Trump told he will DRAIN THE SWAMP and take on ROTHSCHILDs SHADOW GOVT RUNNING USA AND CONTROLLING EVERYTHING --like Mannargudi Mafia in Tamil Nadu

    BITCOIN IS THE BRAINCHILD OF BILDERBERG INNER KOSHER CLUB

    EURO WAS CREATED BY THE SAME KOSHER CLUB

    The FX markets currently represent the exchange between ‘major’ and ‘minor’ currencies. In the future, why not too they will include ‘cryptocurrencies’ – we’re already seeing the BTC/EUR pair popup on obscure brokers. 

    When BTC/USD and BTC/EUR are available at major FX banks and brokers, we can say – from a global FX ( forex ) perspective, that Bitcoin has ‘arrived.’ 

    Unlike the Euro, Bitcoin is being adopted at a near exponential rate by demand

    WE KNOW WHY ROTHSCHILDs APCO BRANDED MODI IS QUIET ABOUT BITCOIN --E SPOKE ABOUT IT A COUPE OF TIMES --PRAISING IT--IT IS ON YOUTUBE

    So why Elite E Services is not actively involved in Bitcoin the answer is that previously, you can’t trade Bitcoin. They have been trying hard to declare it as a COMMODITY --like Pakistanis

    When we can trade BTC/USD just like EUR/USD you can bet your cotton pickin' ass , that EES ( Engineering Equation Solvers ) and a host of other algorithmic FX traders will be all over it!

    The NSA ( controlled by KOSHER FED ) has the capability, the motive, and the operational capacity – they have teams of cryptographers, the biggest fastest supercomputers in the world

    NSA employs the best mathematicians and cryptographers in the world-on a NEED TO KNOW basis -making whistle blowing by NON-KOSHER and non-white difficult.

    NSA was one of the first organizations to describe a Bitcoin-like system--12 years before Satoshii Nakamoto did.

    The NSA white paper alternatively refers to the currency outlined as “coins” and “tokens.”-- a precursor to beloved Bitcoin, which utilized SHA-256

    ONLY NSA HAS THE MOTIVATION TO DELARE THAT BLOCKCHAIN DATA IS ENGRAVES ON ROCK WHEN IT IS ONLY ENGRAVED ON BETTER TO BE MELTED AND ENGRAVED WITH FAKE DATA

    WE ASK MODI , JAITEY, RBI GOVERNOR-- ARE YOU REALLY BABES IN THE WOODS AS YOU PRETEND ? DO YOU NEED A BLOGGER TO SPELL THIS OUT ? 

    IS OUR BANAMI MEDIA A POOL OF TRAITORS --OR ARE THEY REALLY NAIVE TO DEAL ONLY IN POTHOLES, NON-EXISTENT MOLESTATIONS ( LIKE GOD DIGGIN' ZAIRA WAHID / VARNIKA KUNDU ), CRICKET , BOLLYWOOD ETC ?

    BOTTOM LINE: NSA IS TIED TO SHA -256 HASH FUNCTION -- ARE WE TO ASSUME THAT NSA IS "ALICE IN WONDERLAND"-AND THEY DONT KNOW HOW TO CREATE A BACKDOOR TO DO EXTREME HERA PHERI AND FORGE TRANSACTION AND ITS TIME ?

    SREESHANT WAS FIXED BY "TIME" HIJACKING --TO PROTECT BIG FISH IPL OWNERS

    http://ajitvadakayil.blogspot.in/2013/06/travesty-of-justice-sreesanth-and.html

    ALL INTERNATIONAL ARBITRATION COURTS ARE KANGAROO COURTS CONTROLLED BY KOSHER BIG BROTHER


    HULLO MODI / RBI GOVERNOR/ JAITEY LISTEN UP -- Certainly, anonymity is one of the biggest myths about Bitcoin. In fact, there has never been a more easily traceable method of payment. Every single transaction is recorded and retained permanently in the public “blockchain”. 

    The idea that the NSA would create an anarchic, peer-to-peer crypto-currency in the hope that it would be adopted for nefarious industries and become easy to track would have been a lot more difficult to believe before the recent leaks by Edward Snowden and the revelation that billions of phone calls had been intercepted by the US security services. 

    We are now in a world where we now know that the NSA was tracking the pornography habits of Islamic “radicalisers” in order to discredit them and making deals with some of the world’s largest internet firms to insert backdoors into their systems.

    ASK PUTIN --THE KGB MAN--HE KNOWS WHAT NSA IS UPTO WITH BITCOIN AND BLOCKCHAIN


    CONTINUED TO 5--

  • CONTINUED FROM 3--

    MP Andrei Svintsov, demanded that bitcoin and digital currencies should be banned as part of a broader effort to stop capital flight. President XI knows flight of capital from China--and he is controlling it.

    ONY MODI IS LOST LIKE "LITTLE BO PEEP "--HIS MANN KE BAATH IS ALL ABOUT PRAYING TO GANDHI AND BR AMBEDKAR --NOTHING USEFUL EVER COMES OUT OF THIS RIDICULOUS TALK--OR MODIs TWITTER TALK--IT IS ALL ON RECORD

    Svintsov told Russian broadcast news agency REGNUM:-"All these cryptocurrencies [were] created by US intelligence agencies just to finance terrorism and revolutions.”

    WHY IS THE VALUE OF BITCOIN DIFFERENT IN ZIMBABWE? TODAY BITCOIN VALUE IN ZIMBABWE IS 27900 USD WHILE THE REST OF THE PLANET IS 15800 USD.

    I HAD PREDICTED TO MY WIFE THAT ZIMBABWE WILL HAVE A COUP SOON, KNOWING HOW BITCOIN VALE WAS SPIKING THERE 

    Because of pesky ‘domestic’ laws, the NSA doesn’t control the internet in foreign countries. But by providing a ‘cool’ currency as a tool, they can collect information from around the globe and like Facebook, users provide this information voluntarily. 

    It’s the same strategy they use like putting the listening device in the chips at the manufacturing level, which saves them the trouble of wiretapping, electronic eavesdropping, and other risky methods that can fail or be blocked. 

    It’s impossible to stop a cellphone from listening to you, for example (well not 100%, but you have to physically rewire the device). Bitcoin is the same strategy on a financial level – by using Bitcoin you’re giving up your private transactional information. 

    By itself, it would not identify you per se (as the blockchain is ‘anonymous’ but the transactions are there in the public register, so combined with other information, which the NSA has a LOT OF – they can triangulate their information more precisely.

    Bitcoin allowed NSA to collect a host of criminals on a network called “Silk Road” and who knows what other operations that happened behind the scenes. 

    Silk Road was an online black market and the first modern darknet market, best known as a platform for selling illegal drugs. As part of the dark web, it was operated as a Tor hidden service, such that online users were able to browse it anonymously and securely without potential traffic monitoring. The website was launched in February 2011

    WHEN YOU DONT WANT MOHAMMAD TO GO TO THE MOUNTAIN --HAVE THE MOUNTAIN COME TO MOHAMMAD

    I HAVE USED THIS METHOD --AT SEA-LIKE IN THE MOVIE BELOW--SET MYSELF AS THE BAIT 

    http://ajitvadakayil.blogspot.in/2014/10/the-quick-and-dead-hollywood-movie.html

    capt ajit vadakayil
    ..


  • I ASK MY READERS TO SEND THIS MESSAGE TO SMRITI IRANI AND I&B MINISTRY SEARATELY---

    #################

    MADAMA SMRITI,

    EVERY TIME "WE THE PEOPLE" SENT YOU OR YOUR MINISTRY A PETITION-- WE GET THE SAME STOCK ANSWER

    "THIS IS NOT OUR JOB"

    WE ARE APPALLED THAT THE I&B MINISTRY DOES NOT KNOW THEIR JOB PORTFOLIO

    WHAT IS YOUR JOB-- CAPT AJIT VADAKYIL WHO WAS A SHIP CAPTAIN FOR 30 YEARS , KNOWS THE MEANING OF "PIC OF COMMS "

    MADAME SMRITI   " WE WERE APPALLED WHEN YOU CHOSE TO CALL UP DESH BHAKT GEN BAKSHI "LIVE" ON A TV DEBATE -TO PATRONISE HIM .. THIS CAUSED THE BRAVE GENERAL TO CRY..
    WHY DID YOU DO THIS SMRITI IRANI ? -- WHY DID YOU PREFER THE BOLLYWOOD MELODRAMA ROUTE WHEN IT CAME TO AN OLD GENERAL ?

    THIS WILL GO AGAINST YOU--NO MATTER WHAT REPARATIONS YOU MAKE IN FUTURE . 

    I AM ENCLOSING A LINK FROM MY LATEST BLOGPOST BELOW

    http://ajitvadakayil.blogspot.in/2017/12/blockchain-bitcoin-big-brother-will.html

    IF YOU CAN UNDERSTAND IT—READ IT ( OR GET EXPERT ADVISE ) AND REACT ON IT ..

    WE ASK YOU “ARE YOU AWARE THAT VINEET JAINs TIMES OF INDIA HAS BECOME A PORN NEWSPAPER UNFIT FOR SCHOOL GIRLS TO READ ?”

    IS ABOVE PART OF YOUR JOB ? DOES YALE ENDORSED “LEADERSHIP CAPABILITY” ALLOW YOU TO INCLUDE THIS IN YOUR JOB PORTFOLIO ”

    CAPT AJIT VADAKAYIL RETIRED 6 YEARS EARLY FROM A HIGH PAYIING — SO THAT HE CAN BE PART OF NATION BUILDING.. 

    WE WATCH!

    PUT THIS COMMENT IN WEBSITES OF GEN BAKSHI, ARMED FORCE CHIEFS ( ALL 3 ), DEFENCE MINISTER, PM, PM MODI, SWAMI, GURUMURTHY, LAWMINISTER, CJI, HOME MINISTER , YOGI ADITYANATH, EDUCATION MINISTER, FINANCE MINISTER, SUSHMA SWARAJ AND WEBSITES OF ALL DESH BHAKTS.. 

    SPREAD ON SOCIAL MEDIA..

    Capt ajit vadakayil
    ..














    JUDGES CANNOT CREATE LAWS—THEY CAN ONLY INTERPRET LAWS, MADE BY THE ELECTED LEGISTLATURE.

    COLLEGIUM JUDICIARY WHERE JUDGES ELECT JUDGES IS NOT ALLOWED BY OUR CONSTITUTION.

    CAPT AJIT VADAKAYIL WHO REPRESENTS “WE THE PEOPLE” DECLARES -“ EVERY LAW CREATED BY MELORD COLLEGIUM JUDGES ARE NULL AND VOID , UNLESS SECONDED AND REGULARISED BY THE ELECTED LEGISTLATURE “

    CAPT AJIT VADAKAYIL WHO REPRESENTS “WE THE PEOPLE” DECLARES -- “ EVERY PAST JUDGEMENT OF COLLEGIUM JUDGES IS NULL AND VOID –REASON—BECAUSE ALMOST ALL THESE CASES TOOK TOO LONG TO SETTLE . ALL THESE CASES WERE JUDGES ON ROTHSCHILDs “JUSTICE IS BLIND” SYSTEM. MOST DIRECT WITNESSES WERE PRODUCED OUT OF THIN AIR.. IF THESE PAST JUDGEMENTS ARE LOOKED ON AS A BEACON IT WILL NOT SERVE JUSTICE –AS THEY WILL BE OUTSIDE THE PERIMETER OF CONTEXT AND WILL NOT FOLLOW THE PRINCIPLES OF NATURAL JUSTICE ( DHARMA).

    THE CONSTITUTION HAS THREE FORCES ABOVE IT-
    1- WE THE PEOPLE
    2- WATAN
    3- NATURAL JUSTICE ( DHARMA )
    WE DEMAND A STOP TO PIL FILED BY FOREIGN FUNDED NGOs AND FOREIGN CONTROLLED DESH DROHI INDIVIDUALS WITH ULTERIOR MOTIVES AND AGENDA

    Prashant Bhushan , a co-founder of AAP, a self-righteous publicity-seeker and an anarchist has filed more than 500 PIL cases in Supreme court

    The Centre for Public Interest Litigation was founded by senior advocates including Fali Sam Nariman, Shanti Bhushan ( father of Prashant Bhushan ) , Colin Gonsalves etc who has never supported Bharatmata and the watan

    A Supreme Court bench of Chief Justice TS Thakur and Justices AK Sikri and R Banumathi has questioned credentials and authenticity of public interest litigations (PIL) Bhushan has been filing at regular intervals.

    The Supreme court bench castigated Prashant Bhushan in Jan 2016 “Prashant Bhushan, you have an image of a crusader. But can you become the centre for public interest litigation? Can the system be taken for a ride in such a manner? We cannot allow this. We must be satisfied that you have a committee which scrutinizes the complaints and allows only genuine ones to be converted into public interest litigations”

    http://ajitvadakayil.blogspot.in/2017/10/time-has-come-to-save-watan-time-is-now.html


    Read all 7 parts of the post below--
    http://ajitvadakayil.blogspot.in/2016/03/foreign-funded-trojan-horse-ngos-pil.html

    WE WILL NOT ALLOW ANY PIL ON FINANCIAL MATTERS . EVEN RAJYA SABHA CANNOT HAVE A HANDLE OF FINANCIAL METTERS .
    JUDGES CAN RULE ONLY ON INDIVIDUAL MATTERS AND NOT ISSUES DEALING WITH THE WHOLE NATION ( ON THE BASIS OF A VESTED PIL )

    PIL WAS STARTED BY JEW ROTHSCHILD IN USA IN 1876 – WHEN A PIL OFFICE ( TO PROTECT JEWS ) WAS STARTED IN NEW YORK.



    WISDOM— DISPENSING JUSTICE FOR AGGRIEVED PEOPLE VIA A LEGAL FORUM , VIA ARTICLE 32 OF THE CONSTITUTION HAS NOTHING TO DO –REPEAT—NOTHING TO DO -- WITH UNELECTED JUDGES ( COLLEGIUM MELORDS WHO ELECT THEMSELVES ) CREATING LAWS FOR THE WHOLE NATION---- TO BE SHOVED DOWN THE COLLECTIVE THROATS OF A NON-AGGRIEVED POPULATION .    THE CONSTITUTION DOES NOT ALLOW THIS.    WE THE PEOPLE WILL NOT ALLOW THIS. 

    READ ABOVE PARA A MILLION TIMES.


    PUT ABOVE COMMENT IN THE WEBSITES OF PMO, PM MODI, LAW MINISTER, CJI, SUPREME COURT BAR COUNCIL , HOME MINISTER, FINANCE MINISTER, SUSHMA SWARAJ, EDUCATION MINISTER, I&B MINISTER, YOGI ADITYANATH, SWAMY, GURUMURTHY , AND WEBSITES OF DESH BHAKT LEADERS

    Capt ajit vadakayil
    ..


    WE HAVE A TWO FINGERED BLOGGER WRITING ABOUT BLOCKCHAIN AND SHELL COMPANIES

    http://ajitvadakayil.blogspot.in/2017/11/blockchain-bitcoins-ponzi-part-13-capt.html

    PRANNOY JAMES ROY WITH AN IRISH MOTHER CONVERTED HIMSELF INTO AN INTELLECTUAL BY TALKING MINDLESS SHIT ABOUT ELECTION RESULTS

    WHAT DOES THE CHOOT MAIN STREAM MEDIA DO?

    THEY ARE ENGAGED IN VVIP RACISm, HINDU FRINGE ELEMENTS, POT HOLES, BOLLYWOOD, CRICKET , HINDI HEARTLAND POLITICS

    I ASK THE MODI GOVT

    CHANGE THE RULESs

    JOURNALISTS MUST COMPULSORILY DO MATH -- SO THAT THEY CAN THINK FOR PEANUTS

    PUT THIS COMMENT IN THE WEBSITES OF SMRITI IRANI, PM MODI, PMO, FINANCE MINISTER , LAW MINISTER, CJI, SWAMY, GURU MURTHY, EDUCATION MINISTER

    capt ajit vadakayil
    ..
    SOMEBODY ASKED ME

    WHY MATH FOR JOURNALISTS?

    WELL CAN YOU EVER MAKE THAT PEA BRAINED FAYE SORPOTEL DSOUA UNDERSTAND

    THAT IN A NATION LIKE INDIA WITH 1300 MILLION PEOPLE

    HAVING ONE RAPE EVERY HOUR MEANS NOTHING ?

    A EUROPEAN NATION HAVING 13 MILLION PEOPLE-- ONE RAPE PER DAY MEANS SOMETHING

    capt ajit vadakayil
    ..



    WHEN BASTARD ISLAMIC PAINTER MF HUSSAIN SHOWED SITA HAPPILY PREENING HER HAIR SITTING NAKED ON RAVANAs LAP AFTER ILLICIT SEX,    THE COLLEGIUM JUDICIARY CRIED    “ VERY GOOD.   GREAT ARTISTIC FREEDOM”
    WE KNOW THESE BASTARD DROHI JUDGES  ..  THEY HAVE RETIRED...
    HINDUS HAVE WOKEN UP
    RAJPUTS WILL DEFEND THEIR HONOUR
    JUST WHO THE HELL IS THE FELLOW SANJAY LEELA BHANSALI—   A MAN WITHOUT WIFE AND CHILDREN AT THE AGE OF 55  ? . 
    HIS SERVANTS HAVE BLOWN THE WHISTLE.     WE KNOW WHO HE IS.   
    WE KNOW THE SEXUAL PREFERENCES OF MF HUSSAIN TOO.


    Below:  DROHI woman ( who looks like a man in a sari ) immediately called MF Hussain an ANGEL --  this KALANK celebrates when Bharatmata bleeds and is one of the most hated women in India.




    CAPT AJIT VADAKAYIL DECLARES

    EVERY LAW CREATED BY COLLEGIUM JUDICIARY IS NULL AND VOID AS PER OUR CONSTITUTION

    WHAT IS THE WAY OUT ?

    COLLEGIUM JUDICIARY MUST CREATE A TRANSPARENT WEBSITE

    PUT DOWN ALL LAWS THE JUDGES HAVE CREATED 

    WITH A REQUEST ( NOT AN ORDER ) TO THE ELECTED LEGISLATURE TO SECOND IT AND CONVERT IT TO LAW
    WE THE PEOPLE , THE WATAN AND DHARMA (NATURAL JUSTICE ) ARE ABOVE THE CONSTITUTION

    THIS BLOGSITE REPRESENTS "WE THE PEOPLE"

    FOREIGN FUNDED DESH DROHI NGOs ARE THE DRIVING FORCE BEHIND ALMOST ALL PILs--VESTED WITH ULTERIOR MOTIVE

    WE THE PEOPLE ALSO DECLARE-- BURN ALL PAST MELORD JUDGEMENTS --MADE BY "JUSTICE IS BLIND" ROTHSCHILD SYSTEM 

    JUSTICE MUST NEVER BE BLIND --IT MUST BE WITHIN THE PERIMETER OF CONTEXT AND MUST NOT KICK NATURAL JUSTICE ON ITS TEETH

    http://ajitvadakayil.blogspot.in/2017/10/time-has-come-to-save-watan-time-is-now.html

    PUT THIS COMMENT IN THE WEBSITES OF

    CJI

    SUPREME COURT BAR COUNCIL

    LAW MINISTER

    ATTORNEY GENERAL

    PM

    PM MODI

    HOME MINISTER

    I&B MINISTER

    EDUCATION MINISTER

    AND ALL DESH BHAKT LEADERS.. SPREAD ON SOCIAL MEDIA

    capt ajit vadakayil
    ..


    THIS POST IS NOW CONTINUED TO PART 15, BELOW--







    CAPT AJIT VADAKAYIL
    ..

    204 comments:

    1. https://twitter.com/vineetjaintimes/status/932474824214982656

      CHECK OUT WHAT THIS MENTAL AND PHYSICAL MIDGET ( NO WIFE NO CHILDREN ) SAYS

      TEE HEEEEEEE

      ReplyDelete
    2. SOMEBODY ASKED ME

      WHY MATH FOR JOURNALISTS?

      WELL CAN YOU EVER MAKE THAT PEA BRAINED FAYE SORPOTEL DSOUA UNDERSTAND

      THAT IN A NATION LIKE INDIA WITH 1300 MILLION PEOPLE

      HAVING ONE RAPE EVERY HOUR MEANS NOTHING ?

      A EUROPEAN NATION HAVING 13 MILLION PEOPLE-- ONE RAPE PER DAY MEANS SOMETHING

      capt ajit vadakayil
      ..

      ReplyDelete
    3. https://www.youtube.com/watch?v=Ke92sTG9bL0

      WE KNOW WHY JEW DARLING MODI LOVES USELESS AND EXPENSIVE KOSHER RAFALE

      ReplyDelete
    4. mythra81
      November 20, 2017 at 10:02 PM

      can you describe what a vaanara looks like? what about asuras [most modern hindu mythology serials as barbaric uncouth and stupid]

      Delete



      Capt. Ajit Vadakayil
      November 20, 2017 at 10:07 PM

      MAHARISHIS WHO WROTE ARANYAKAS ( PART 3 OF VEDAS ) WERE VANARAS

      VANARA MEANS DENIZEN OF FOREST

      THE WHOLE OF ARANYAKAS ( CONTAINING MATH / SCIENCE ) WAS STOLEN BY THE WHITE INVADER

      VEDAS CONSIST OF SAMHITAS, BRAHMANAS , ARANYAKAS AND UPANISHADS.

      PRANAVIDYA WAS PART OF ARANYAKAS

      Aranyakas are generally regarded as a link between the Brahmanas and the Upanishads.


      Delete




      Capt. Ajit Vadakayil
      November 20, 2017 at 11:03 PM

      SOMEBODY ASK ME TO GIVE ONE EXAMPLE OF KNOWLEDGE STOLEN FROM ANANYAKAS

      ANANYAKAS HAD KNOWLEDGE ABOUT VULCANISATION OF RUBBER

      SO WHICH WAS THE BEST WAY TO STEAL IT AND HIDE THE SOURCE?

      JUST DESTROY THE SOURCE.

      THE WHITE INVADER WROTE THAT INDIA DID NOT HAVE ANY RUBBER TREES AND THEY PLANTED IT

      SORRY-- RUBBER EXISTED FIRST ON THE WAYANAD MOUNTAINS ON THIS PLANET

      WE HEATED RUBBER SAP WITH SULPHUR-- SO THAT IF YOU PULL THE RUBBER IT COMES BACK TO ITS ORIGINAL SHAPE

      IN SANSKRIT AND MALAYALAM SULPHURE IS CALLED GANDHAKA -- WHEN WE USED THIS TERM ( BOOK RASASHASTRA ) , THE WHITE MAN WAS RUNNING AROUND NAKED USING GRUNT GRUNT FOR LANGUAGE

      AYURVEDA USED SUPHUR FOR SKIN CREAMS

      Sindhoor ( red pigment vermilion ), a pure form of mercuric sulfide, is traditionally obtained by reaction of mercury ( produced by reduction from cinnabar ) with sulfur, since the past 9000 years in India.

      In India , Hindu women show a vermilion dot on the forehead and a line on the hair parting above the dot ( see first picture ) to show that they are married and the husband is still alive.

      The sindoor on the parting in the bride's hair is first applied by the bride groom as a part of the wedding ceremony. After that the bride puts it on her own every day after a bath, till she becomes a widow.

      When the married woman applied the sindoor on her hair parting everyday, she remembers her husband with gratitude .

      THIS IS CALLED VULCANISATION

      I KNOW MORE ABOUT RUBBER AND LATEX THAN MOST ON THIS PLANET

      http://ajitvadakayil.blogspot.in/2011/02/latex-on-chemical-tankers-capt-ajit.html

      WHEN RAM CROSSES OVER FROM KERALA TO SRILANKA --HE MADE A BRIDGE WHICH WAS FLOATING IN CERTAIN AREAS -- COIR AND RUBBER ( like mattresses ) WERE USED EXTENSIVELY

      EVEN TODAY WE IN KERALA PREFER COIR RUBBERISED MATTRESS-- I SLEEP ON ONE .

      IT IS THE BEST MATTRESS EVER-- COOL DUE TO AIR CIRCULATION --SUPPORTS THE SPINE

      While coir (coconut fibre) by itself does not have any resilience, once processed with latex solution, the coir sheets get resilience and ability to conform to our body shape.

      MAYA DANAVA TOOK RUBBER AND VULCANISATION TO PERU

      GOOD YEAR WAS NOT EVEN THE WESTERN INVENTOR OF VULCANISATION

      A BRIT NAMED THOMAS HANCOCK WAS THE FIRST TO LIFT THE KNOWLEDGE FORM KERALA

      http://ajitvadakayil.blogspot.in/2012/07/maya-inca-aztec-civilizations-decoded.html

      Jarana, is a method of stadial consumption or digestion of ever increasing quantities of mica or sulfur by mercury, until mercury is de-toxified and harnessed ( for making PARAD SHIVA LINGAM ) .

      Mercury is the representation of male (Shiva) form and the chemical element sulfur associated in the solidification process considered as the representation of female (Shakti or Gauri, consort of Shiva) form

      Siddhar Tirumular spake:--
      "Enter the tenth one."
      I took what was given me
      and put it in my mouth.

      And a bunch
      of mercurial amalgams
      I tied onto my wrist.
      Off I went.
      Entering the universe
      of fire and light.

      BALLS TO THE LYING WHITE HISTORIAN BASTARDS !

      capt ajit vadakayil
      ..

      ReplyDelete
    5. SOMEBODY ASKED ME

      WHAT IS A BANANA REPUBLIC? IS INDIA A BANANA REPUBLIC?

      BANANA REPUBLIC IS A DERISIVE TERM GIVEN TO A NATION WHICH IS RULED BY WHITE JEWS FROM ABROAD USING THEIR PUPPET LEADERS.

      INDIA IS A BANANA REPUBLIC--EVEN 70 YEARS AFTER INDEPENDENCE

      EXAMPLE ?

      I WILL GIVE JUST TWO AMONG THOUSANDS

      AAA) BASAVA WAS A GOD CREATED AND BACKDATED BY JEW ROTHSCHILD

      BEFORE THE WHITE INVADER CAME TO INDIA, NOBODY IN INDIA HEARD OF BASAVA.

      VEERASHAIVA LINGAYATHS BURY THEIR DEAD TODAY. IF YOU GO TO THEIR BURIAL YARDS YOU CAN SEE SHIVALINGAM / NANDI / SHIVA STATUE -- WHICH IS NOT ALLOWED.

      NOW THEIR FOREIGN FUNDED NGOs HAVE DRIVEN SUCH HARTED TO SANATANA DHARMA THAT THE POLIICIANS WANT TO SPLIT FROM HINDUISM.

      THEY HAVE GIVEN PROPAGANDA AND PROPPED UP A FELLOW NAMED VEMANA .

      TODAY WE HAVE STAMPS OF VEMANA AND UNIVERSITIES . IN THE TEXT BOOKS OF SCHOOL CHILDREN THEY HAVE INCUDED "VEDAS OF VEMANA"

      WANNA READ IT?

      I ASK MY READERS --YOU MUST READ IT-- ONLY THEN YOU WILL KNOW THE MEANING OF BANANA REPUBLIC--WHERE WERE ARE NO BETTER THAN MONKEYS HOLDING A BANANA.

      SCROLL DOWN THIS POST --AND READ THE YELLOW RIBBON HIGHLIGHTED PARTS UNDER THE VEMANA STAMP.

      http://ajitvadakayil.blogspot.in/2015/09/sanatana-dharma-hinduism-exhumed-and_30.html

      WHAT IS ALL THIS ?

      IS THIS FIT TO BE TAUGHT IN SCHOOL ?

      ARE WE MAD ?

      TELUGUS WENT ABROAD AS INDENTURED LABOUR ONLY BECAUSE OF A WHITE SKINNED BRITISH COLLECTOR NAMED CP BROWN-- WHO IS CONSIDERED AS A GOD IN TELUGU LAND . CP BROWN CREATED BASAVA FOLLOWERS , WHO WILL BURY THEIR DEAD.

      CP BROWN DROVE TELUGUS AS SLAVES ABROAD BY DELIBERATE FAMINE HE CREATED IN TELUGU LAND

      http://ajitvadakayil.blogspot.in/2010/04/indentured-coolie-slavery-reinvented.html

      MODI RAN FASTER THAN USAIN BOLT TO INAUGURATE A STATUE OF BASAVA ON THE BANKS OF THE RIVER THAMES IN LONDON..

      http://ajitvadakayil.blogspot.in/2015/04/cp-brown-and-yogi-vemana-capt-ajit.html


      BBB ) MGR AND JAYALALITAA WERE STAUNCH HINDUS WHO WANTED TO BE CREMATED BUT BOTH WERE BURIED. MIND YOU THIS DUO WERE HEROES FOR TAMILS

      MGR WAS MADE A PUPPET IN THE LAST YEARS OF HIS LIFE--HE WAS A VEGETABLE . DURING THIS PERIOD LTTE AND PRABHAKARAN BECAME CHRISTIAN .

      http://ajitvadakayil.blogspot.in/2012/08/aidmk-dmk-misplaced-support-for-ltte.html

      THE ENTIRE COASTAL BELT OF TAMIL NADU BECAME CHRISTIAN --AND THE MOTHER OF ALL SCAMS--THE THORIUM SCAM TOOK PLACE .

      JAYALALITHA HAD PLUS SECURITY. SHE WAS ABANDONED IN A HOSPITAL--HER LEGS WERE CUT AS YOU CAN SEE IN THE VIDEO IN THE POST BELOW (YOU CANT MORPH IT ) .

      PEOPLE IN POWER JUST PRETEND TO SLEEP . YOU TRY WAKING THEM UP

      http://ajitvadakayil.blogspot.in/2017/09/inquiry-into-death-of-cm-of-tamil-nadu.html

      THIS IS JUST TWO EXAMPLES AMONG MORE THAN A THOUSAND

      AMERICAN ARE QUICK TO RIDICULE CENTRAL AND SOUTH AMERICAN NATIONS AS "BANANA REPUBLICS"

      IN REALITY USA IS THE GREATEST BANANA REPUBLIC

      ALL THEIR PRESIDENTS HAVE BEEN PUPPETS OF JEW ROTHSCHILD .

      EXCEPT FOR ONE-- ANDREW JACKSON

      THE FIRST US PRESIDENT GEORGE WASHINGTON WAS AN IMPOSTER . THE REAL MAN WAS MURDERED AND HIS PLACE TAKEN BY A GERMAN JEW NAMED ADAM WEISHAUPT

      http://ajitvadakayil.blogspot.in/2010/12/dirty-secrets-of-boston-tea-party-capt.html

      BANANA WAS UNITED FRUIT MAAL.

      http://ajitvadakayil.blogspot.in/2012/09/will-india-be-banana-republic-walmart_18.html

      HOW DID WE LOSE ALL OUR HUMPED BULLS ? ( WHITE REVOLUTION )

      HOW DID WE LOSE 90% OF OUR LAKES IN 55 YEARS FLAT ? ( GREEN REVOLUTION )

      HOW DID INDIANS BECOME GUINEA PIGS FOR KOSHER EVIL PHARMA ?

      http://ajitvadakayil.blogspot.in/2016/03/say-no-to-hpv-vaccination-for-indian.html

      HOW DID LAKHS OF SHELL COMPANIES COME TO INDIA?

      NOW WE ARE SELLING OUR FINANCIAL SYSTEM -- TO KOSHER INTEL-- BY A "PROOF OF ELAPSED TIME" BLOCKCHAIN WHICH HAS NOT BEEN TESTED .

      WE HAVE GUJJU NO 2 PRAYING TO GUJJU NO1 --AND RUNNING FASTER THAN USAIN BOLT ABROAD , TO INAUGURATE EVERY GANDHI STATUE MADE BY ROTHSCHILDs AGENTS .

      WE WATCH

      THIS BLOGSITE WILL WRITE LEGACIES --NOT ROTHSCHILDs MEDIA OR HISTORIANS

      capt ajit vadakayil
      ..

      ReplyDelete
    6. https://timesofindia.indiatimes.com/india/social-humour-karni-sena-is-at-receiving-end-of-jokes-for-their-threat-to-Deepika/humour/61723441.cms

      POOR BENAMI MAIN STREAM MEDIA

      PEOPLE WILL NOT EVEN THROW SHIT ON THEIR TRAITOR FACES - THEY ARE NOT EVEN WORTH THIS EFFORT-- WORMS !

      https://timesofindia.indiatimes.com/india/social-humour-karnisena-trolled-for-threatening-deepika/humour/61687998.cms

      DEEPIKA IS A KALANK TO INDIAN WOMENHOOD

      WE ALL SAW HER SITTING IN THE FRONT ROW OF AIB ROAST AND GUFFAWING LIKE A DONKEY WHO HAS SEEN FRESH SH1T AT EVERY FILTHY ANAL SEX JOKE

      AND OF COURSE WE KNOW WHERE HER FINGER WAS WHEN SHE SAID SHE PRODUCED BABIES WITH VIN DIESEL IN HER HEAD

      AAAARGGGHHH PPTTHHEEOOYYYY

      capt ajit vadakayil
      ..

      ReplyDelete
    7. Captain Saab,

      Have been posting your comments to PM, PMO, S Gurumurthy(at http://www.vifindia.org/author/shri-s-gurumurthy), Swamy(at swamy39@gmail.com, and his aide Jagadish Shetty from Virat Hindustan Sangam at jagdishshetty@gmail.com) and other ministers in BJP.

      I have a hunch that SBI is being setup for pump and dump. Once a suitable crisis is thrust, a solution will be offered to deposit our temple gold in the bank (promising that it is temporary) to tide over. I am sure our Gujju-2 will be again rise to the occasion to save us, the way he did with Demonitisation. I remember in earlier occasions, Tirupati and Siddivinayak temple management were forced to park their gold in the SBI which in turn moved to RBI, which will find its way to London.

      Regards,
      C Prabhu

      ReplyDelete
    8. CAPTAINS EFFECT


      Govt sets permissible limits for antibiotics use in chicken
      FSSAI will direct poultry farms to adhere to good animal husbandry practices and monitor the use of antibiotics and veterinary drugs in meat and chicken, says CEO Pawan Kumar Agarwal
      Maximum permissible limits of 37 antibiotics and 67 other veterinary drugs are prescribed for chicken, the health ministry said in a statement. Photo: Mint
      Maximum permissible limits of 37 antibiotics and 67 other veterinary drugs are prescribed for chicken, the health ministry said in a statement. Photo: Mint
      Neetu Chandra Sharma
      New Delhi: The Indian government is trying to make sure that the chicken on your plate is free of excessive antibiotics and veterinary drugs that may be harmful for human consumption.

      The ministry of health has notified an amendment to the Food Safety & Standards (Contaminants, Toxins & Residues) Regulations, 2011, under which maximum permissible limits have been specified for the presence of antibiotics and other drugs in meat and meat products, including chicken.

      “Maximum permissible limits of 37 antibiotics and 67 other veterinary drugs are prescribed for chicken,” the health ministry said in a statement on Monday.

      The ministry, through the Food Safety and Standards Authority of India (FSSAI), has also sought comments from all stakeholders, including individual citizens. The comments will be placed for consideration before the scientific panel of the FSSAI on residues of pesticides and antibiotics.

      “We will direct poultry farms to adhere to the good animal husbandry practices and monitor the use of antibiotics and veterinary drugs in meat and chicken,” said Pawan Kumar Agarwal, chief executive officer of FSSAI.

      ReplyDelete
      Replies
      1. There have been many effect of Respected Captain - IPS Roopa getting presidential police award.. _/\_ Captain!

        Delete
    9. https://motherboard.vice.com/en_us/article/pa39vv/eric-schmidt-says-google-news-will-delist-rt-sputnik-russia-fake-news

      Showing their true colours.

      ReplyDelete
    10. Captain,

      Mahindra & Mahindra open 1st car plant in Detroit in 25 years