DAILY SKYCOIN THREAD

I've posted about this yesterday and the thread got a decent amount of interested replies, so I'm gonna continue letting Veeky Forumsraelites know about this.

This is such a fucking hidden gem on the scale most people cannot even comprehend - it's unironically going to be a top 3 coin in the next 3 to 5 years, after the current speculative crypto bubble bursts, and the money flow is directed to commodity based cryptos.

It's the most ambitious project I've ever seen, nothing can compare in that regard. I'm going to try and teach you plebs about it. The architecture consists of 4 main things:

1. SKYCOIN: A coin that is technically superior to any alt there is. Transactions with zero fees that take approximately two seconds, unlimited transaction rate, no need for miners and block rewards, low power usage, ALL of the bitcoin's technical vulnerabilities fixed, a consensus mechanism superior to anything that exists, resistant to all conceivable threats (government censorship, community infighting, cyber/nuclear/conventional warfare, etc).

- Once coinjoin is implemented and the network is running over skywire, it will have a higher level of privacy than any other coin (more anonymous than zcash/monero and without the overhead). Wannabe drug lords should switch from monero/dash to skycoin after the CXO browser and skywire are available, because all of the ecosystem components are integrated with each other. You could have a decentralized silkroad on skywire and pay seamlessly with the same coin you use to pay for your utilities.

- Numerous peer reviewed whitepapers.

- Skycoin is being developed by legit engineering geniuses, for years (predating Bitcoin’s boom).

- Holding Skycoins generates income in the form of Coin Hours (like NEO’s GAS). There will be a marketplace where Coin Hours are traded and Coin Hours will be used for services within the Skycoin ecosystem.

[cont]

2. SKYWIRE: A decentralized ISP where you earn coins for forwarding traffic/bandwidth (like Tor but faster, not backdoored by NSA and you are getting paid to run a node), that will give everyone nearly free internet access and will get a lot of users and actually be useful. Different networking protocol than TCP/IP, designed to be immune from literally all currently known network based attacks.

- Uses public keys instead of IP addresses, with all of the traffic encrypted by default, making man in the middle attacks impossible.
- Nodes forwarding the traffic can only see the previous and next hop, not origin or destination, making it extremely private.
- Latency is superior to TCP/IP because ISPs use hot potato routing, while Skywire doesnt.
- Speed is superior because bandwidth aggregation is possible, making it possible to share the unused bandwidth of your neighbours.
- Immune to ISP control tactics, such as throttling, censorship, outages, etc.
- Designed to be ran on skycoin's own open source hardware infrastructure.
- Works as an overlay over the current internet as of now, but will be completely independant as soon as the network backhaul is in place.
- Incentivized for the first 14 years, you get paid for running a node and transferring packets for the network.

3. SKYLEDGER: A platform that’s their version of Ethereum’s ERC20, but with Ethereum's technical limitations fixed. Every coin is given their own blockchain and the platform runs on top of the skywire infrastructure. Coins have already started doing ICOs on skyledger (Solarbankers.com, SPACO, etc). About 30 coins lined up so far. There’s a programming language (CX) and it’s not limited to just "smart contracts". Developers of each chain can hardcode whatever they want to do. For example full video games could be embedded on the blockchain, if anyone would want that.

Ethereum is using javascript for front-end. Skycoin is using CX and CX is completely memory sandboxed and uses affordances to box applications and APIs in, so stuff like the parity hack can never happen in skycoin. Skycoin is using affordances and a genode style resource/permission system. So there's an easy way to write security policies - like "the frontend should not be able to access my coins unless something gave it permission to do so". Where as ethereum cannot enforce constraints like this, so they are just duck taping over the problems and hoping they go away.

Skycoin is designed to make these problems impossible through good architecture.

4. Then there’s the massive ecosystem of stuff being built on top of the previous three things. Like the sky-messenger, the file sharing/dropbox functionality, distributed social media (sort of like Steemit but running on skycoin’s infrastructure and platform), DEX and OTC markets for the whole skyledger family. There’s about 15 development teams working on different projects within skycoin’s ecosystem. And unlike shitty erc20 tokens promising similar things, most of this stuff is already being developed, you can check the github to see the progress.

This is a twice-in-a-lifetime opportunity (The first opportunity was with Bitcoin's price rise). You need to hold these coins for a year or two, and not be greedy with day-trading. That is the most ultimate lesson I can ever teach you.

Basically if you choose ignore all of this, you're a fucking retard.

how 2 buy

List of bitcoin's technical vulnerabilities that skycoin has fixed:

- elimination of the need for miners for network consensus through a new consensus algorithm
- elimination of dependence on the human element in the network operation
- duplicate coinbase outputs
- signature malleability
- reduction in complexity in implementation
- dozens of other small security related improvements
- elimination of external network dependencies that create security concerns
- 51% attack proof and strengthening against various cryptographic attacks
- simplified, more power data, transaction and wallet APIs
- brainwallet, deterministic wallets as default
- intrinsic support for gmaxwell CoinJoin transaction privacy protocol
- new networking protocols to enable the verification of the mathematical prerequisites for consensus network convergence
- separation of coin creation from consensus network, to eliminate Bitcoin's tendencies towards mining centralization
- directed bipartite TX/UTXO transaction graph structure which is more elegant and efficient than Bitcoin's multi-graph structure
- provably upper bounded network, RAM and CPU resource usage for network operation
- soft coded, adjustable blockchain size parameter to enable network transaction rate scaling
- rolling unspent output state error correction coding in the block header for early detection of software/hardware non-determinism
- blockchain/transaction/histrory storage database with constant time lookup, indexless operation for all major blockchain history queries
- etc

Skycoin is 51% attack proof and addresses all of the security issues in Bitcoin. Skycoin is designed to be a simpler, easier to use, more secure than any cryptocurrency there is.

It's technologically superior to literally anything that is on the market right now, try doing some research on your own about it.

I sold at $2. Please kill me.

Why did you? Also more importantly why didn't you buy back in lmao

I bought at $1. I doubled my money, and didn't think it would go up more.