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FNetV1

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About FNetV1

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    Bike Ridding, Long Walks, Running, into Resesarch mainly Electronics and Computers.
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    New York State

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  1. 66% ICN (Iconomi) (Asset) (87,000,000 total available supply based on coinmarketcap) 30.74% INCNT (Incent) (Asset) (23,000,000 total available supply based on coinmarketcap) 1% XRP 1% ETH 1% ZCash 0.25% Lisk 0.01% BTC
  2. > Ping The ping response time that I get with Verizon FiOS is 6 ms which is very great, faster than my previous ISP (Cable) two years ago was at 10 ms, thats explainable to the fact that data travels much faster via fiber optic (light) than Coax (copper). > Redundancy Not an issue, I have many reliable low ping based ISP options of varying speeds > Recompense Being nothing as you said, would offer very little motivation to get the technologically advance to cooperate to grow ripple network specially if they are currently not holding any XRP's at the moment. I am a person who used to hold over 500,000 XRP back in a few months, I sold them almost all but 1,200 XRP in order to take part in a few IPO with the intention of eventually returning back to XRP (by selling some of that IPO assets) to further increase my XRP strong hold, little did I knew XRP's price was going to go ballistic before my cycle was done. I am actively looking for ways to increase my XRP amount that doesn't involve buying XRP as I do not feel comfortable paying 30 cents per XRP, I was under the impression that I could setup a validator as a way to earn XRP's, I remember Ripple Labs offering a compensation plan for those who signed up to run a validator years ago, I didn't further researched that topic back then but I guess that recompense is gone now, and so the motivation of many talented people to actually run a validator too, unless Ripple Labs feels they already got enough validators running that they actually are in a payment contract with those existing operators established years ago. Okay, lets estimate costs to setup a validator: For example, lets say that all of a sudden I were to run a validator, here is what I can think up that I would need: That 1 gbps 6 ms FiOS connection would be great followed by one more or two more reliable ISP connection ready in my load balancer as "standby" and ready to immediately take over shall the primary fail and return back to primary as soon as primary is available or stay with secondary until secondary fails and then go to back to primary if its available by the time secondary fails, however I determine to set it up, etc.... Well, that extra ISP comes at a costs, I estimate over $40 to $80 per ISP connection added for "redundant". I would have to buy some networking gear to ensure that switch over happens in an automated and seamless fashion I would have to configure a server and leave it running 24/7 with UPS battery backup and talking about UPS battery backup I would also need to make sure all my internet modems and routers and switches are behind this UPS battery backup so that any mini blackouts or brownouts doesn't take the computer and internet connection away. Depending on the data requirements of the validators I would need lots of GB of storage, possibly a terrabyte or two and not with the cheap mechanical 7200 WD blue hard drives, but with expensive SSD of name brands (Kingston/SanDisk, etc) to ensure very low seek times Last time I check, a 1 TB (well 960 GB to be precise) Kingston SSD drive runs at $240 wholesale price Ah what about electricity, all these equipment running 24/7 plus that server will add an extra $150 to $300 to your elecric bill on my expensive energy sector, and no I am estimating the final bill with all taxes and fees (all those "....in order to deliver the energy to you fee, other fees, taxes, and all other crap fine details in the final bill) In short, thats alot of money just to reliably run a validator...... and all for no recompense. I am sorry but I just dont see anyone doing this for no reward of any kind, maybe those who have like a million XRP's right now or those who simply want to see Ripple succeed and feels they want to chip in their "2 cents" (hence a very expensive 2 cents), or those simply who wants to learn the "gears" behind all this and wants to delve in the challenge because they like to take a challenge even if there will be no pay of any kind for doing do, the fact that you setup a server with all these equipment and its working and watching it crunching all these numbers/data shall probably be enough recompense for some of these operators. Alternative arrangement: Cloud server hosting such as Amazon AWS, etc I feel that you need hundreds of GB's of available disk space for your validator, so if you were to create an instance of say 500GB in Amazin EC2 its gonna cost you big time and if you need 1 TB to 2 TB forget it, you might as well own your equipment and foot all the costs I stated on my projections, much cheaper in the long run. Amazon AWS EC2 shines when your requirements are in the low GB's area, but it rapidly becomes very expensive the higher your storage requirement goes, and there is two modes of operations, the first is regular EC2 which costs the most and the other is doing something called a "spot reserve", thats where you bid the minimum and hope your spot gets reserved, it does, but the minute the price goes higher than you bid, your instance gets terminated in favor of that other person who outbid you, this arrangement can be up to 95% cheaper than regular full AWS EC2 retail price but its no exactly a reliable one for a validator purpose. In short, I dont see any other way of cheaply and reliable to run a validator, any reliable implementation will require the operator to foot lots of money and have lots of monthly costs associated with the operation for it to be a "hobby" operation done for free with the expectancy of no recompense of any kind. And trust me, I want to see Ripple succeed but am not willing to spend all that money to run a validator if I am not going to get anything in return for it. Now I can see a Bank wanting to run a validator on their own specially if they are going to use the Ripple technology, the would be benefiting out of it directly, but for those regular joes like me and others, there is little point in running one ourselves.
  3. I have a few questions regarding the following: for "Timeliness - Which means you need a fast internet connection, preferably one in a datacenter. Your home internet connection won't work well." I will soon have a 1 gbps/1 gbps (upload/download) unlimited internet speed at home thanks to Verizon FiOS would that be enough as a "home internet connection"? or is it about something else here such as redundancy, etc? To be honest I have had two internet outages within the last 90 days and these outages only occurred after midnight and service was restored approx 5 hours later, I take it that Verizon was upgrading equipment or something around here and they wanted to do it when most were asleep, other than that, no other outages specially at day time, its perfect 100% up-time as far as everyone is wakefully aware. As far as Availability, I have a strong IT background in multiple field (computer engineering, networking among others) and I can ensure a dedicated server to be available 100% of the time As far as Agreement that's not a problem, I can update anything that needs to be updated as provided by Ripple labs. But I am not sure about what you mean by "Identified - Which means you shouldn't run a validator unless you're willing to identify yourself publicly and people will trust you." How much would people need to know about me if I decide to run a validator? It is a given probably my real name, but do they need to know my address? Phone number?, etc How much of "me" would people need to publicly know? In a different token, what happens if I decide to run a validator but refuse to publicly identify myself? Also, what are the recompense for running a validator? How many XRP's would I get and for what terms.
  4. I would also like to add Iconomi (ICN), as primary alternative investment and Incentives by Loyalty (INCNT) as secondary choice alternative investment. For ICN, the platform has been announced that it will go live within 60 days, (well 59 to 58 days as of this writing), price has blaster thru $2.00 USD already, and there is no telling how higher the price will go, if anyone enters now at $2 and the price goes, say $10 that's a 5x ROI, however I and no one can guarantee you how high it will go, but I am personally expecting ICN to go higher than $20 in the long run, but who knows, with the speed I have monitored the price to climb reaching $20 could be just around the corner (maybe a few months time?) Disclaimer: anything that I said is not trading or investment advice, it is as-is without any guarantees or any promises of anykind. Always do your own due research before investing in anything. EDIT: To clarify that Iconomi (ICN) and Incent (ICNTN) are not "altcoins", both of them are Assets that represents two totally different projects and companies, in short, for Iconomi you will be betting on the success of the Iconomi fund platform (more or less a "wall-street" version for cryptocurrencies, I would like to call it the first NYSE of the crypto world) and Incent by loyalty (INCNT) is about revolutionizing the way retailers offers incentives to their customers and they are already signing up retailer(s) that will use the technology to offers incentives to their customers (store points, gift cards, etc <- comparing to the "old school" conventional incentives being offered today just for understanding and comparison purposes).
  5. Is there a way you can get to your old phone to perform a Titanium backup with all its data for the 2-step verification app you are using (assuming its Google Authenticator, etc) then on your new phone all what you have to do is install that 2FA app (Google Authenticator, etc), then Titanium backup and then restore your backup,or just the app's data backup and there you have access to the 2FA verification code again just as you had it working on your last old device. This is assuming the following: . That the problem here is that you got a new device and you have the old one tucked away somewhere that you can still access to it. . That you are running Android, not IOS, as my method I have only tested to work flawlessly on an Android phone, I dont have an iPhone to test it on an iPhone. . That you have a backup of your Authenticator app with all its app user data made with the Titanium backup app. . In the unlikely event that you don't have access to your old smartphone and you failed to perform a backup of your authenticator key then Gatehub are the only ones that can help you and that's provided that they have a "backdoor" in their system for cases just like this one. Now going back to the old now defunct Cryptsy days (Remember that exchange?) I once lost access to my Google Authenticator after getting my phone stolen (an old used Samsung Galaxy S2 I was using with FreedomPop free service) and I didnt had a backup of the authenticator key, I got in contact with Cryptsy support and after they asked me for my security questions to verify me, I was granted access to my account with 2FA turned off by them. I am mentioning this here so that you can have some hope of being able to have access to your account again, and that all depends on Gatehub's policy pertaining to accounts with lost Authenticator access.
  6. ICN (Iconomi) (66.6% Invested during IPO) and INCNT (Incent by Royalty) (33.3% invested during IPO). As of this writing, the price of ICN is $1.07 USD and the price of INCNT is $0.21 USD. I am also holding: 5 ZCash (got them at $45/ea) 5 ETH (got them like at $3/ea) 5 ETC (free, thanks to the "split up") 1,200 XRP (That I basically left on my wallet after selling most of it to take part in ICO's projects. 188 Lisk (I used to have alot of Lisk, but on ICN IPO they accepted Lisk directly and so I got into ICN directly paying with Lisk. *** I would have loved to be holding SiaCoins but unfortunately Poloniex is the only exchange that lists SiaCoin and Poloniex doesn't serve my state, New York. I hope Bittex lists them soon so that I can buy.
  7. In ripplecharts, I just saw PayRoute's XRP/USD chart and just one week ago XRP was trading there at $5.26 it appears there is no further records past about one week ago so it must be a new gateway, then the price has gone progressively low more inclined to real world prices of other gateways. PayRoutes: First trading date (grand opening): Was on October 4, 2016 at a price of $5.26 per XRP. October 5 , 6 and 7 has the same opening price of $5.26 per XRP. Then on October 7 the price drops to: $1.33 per XRP which was the closing for that date. October 8 closing was approx $0.35/XRP October 9 to PRESENT: gravitating to current price of approx $0.355 My prediction is that within about 1 months the price should have plummeted on this particular gateway that is should almost match the prices we are seeing on other gateways like Bitstamp, etc
  8. People wanting to withdraw funds from Gatehub to their bank account might want to check on what country Gatehub's bank resides in order to avoid potential surprises such as bank correspondent fees. Assuming that this bank is located in EU, and you are located in the USA you might want to check if your particular bank (BoA, Chase, etc) has a correspondent relationship with Gatehub's bank that allows for low to no fees in the transfer, otherwise you might end up paying lots of money in correspondent fees, worse if there is multiple hops of banks each wanting to charge their own correspondent fees before it reaches to your final destination. So, with all that said, I think that for USA customers that wishes to get rid off as much fees as possible might want to consider creating the following two accounts: Bitstamp and Coinbase. Then the Gatehub withdrawal process should be as follows: Exchange XRP to USD.Bitstamp IOU's by creating a limit order and wait for it to execute, then send the IOU's to your bitstamp's ripple address and your unique destination tag, then exhcange the USD to Bitcoin by creating another limit order and waiting for it to execute, or perform a market order if the price is already low enough and enough liquidity exist there, then send the Bitcoin to your coinbase Bitcoin account (wallet address), and finally withdraw to your bank account.
  9. simple exit strategy: Sell 20% when XRP reaches $0.024 Sell 20% when XRP reaches $0.2 Sell 20% when XRP reaches $1 Sell 20% when XRPreaches $3 and finally sell the final 20% of your holding when XRP reaches $5 Buy back XRP's when: Buy back 20% when XRP falls to $4 each. Buy back 20% when XRP falls to $2 each. Buy back 20% when XRP falls to $0.50 each Buy back 20% when XRP falls to $0.1 Buy back 20% when XRP falls to $0.012 Objective: You will be breaking up your speculated tops into 5 parts, that way you will always be taking profit at a higher price IF it gets ever to that higher price, always in each subsequent wave to have bigger dollars on your pockets for the 20% of XRP's you sell. In the other hand, you will be selling 20% USD back to XRP, effectively buying back into XRP when the price has fallen below your sell in price for any of your predetermined points by at least a 1.5x margin. (Eg. You sold XRP's at $3, you get back at $2, and so on). Since what has to go up must come down, and what must come down must go up, you will always be in profit assuming that your predictions were to always come true, even partially as if the price never went higher than $3, but it tends to be oscillating between 0.012 and $3 during multi year cycles. Disclaimer: I am not giving you or anyone financial , trading or any type of advice. Everything I have written is purely speculation and is not written in stone. I am not telling you or anyone that this MUST be done, always perform your own research to determine what strategies, exit or not is appropriate for yourself. Everything that I write can be taken either for informational or entertainment purposes only, no warranty(ies) is given or implied in anyways. This information provided to you and/or others is AS-IS.
  10. Only if Bitstamp were to allow debit card issuance for United State customers, then you could simply make a purchase with your bitcoins directly using your Debit Card, but since that option is missing for USA customers the only withdrawal method that I know of that is as quickly as possible is by selling Bitcoin for Cash using Local Bitcoins. Well, you dont want your deposit to be seen in your bank statement, you can sell a Bitcoin locally using LocalBitcoin, not only will you make more money than Bitcoin's fair market value (current price of BTC is $384, you might sell for $420 in cash) earning you more profit than what coinbase would allow you to sell, you will have your money the same day (if you find a buyer that quick, almost for sure depending on your area), you will have the cash in your hand the very same day. PRO of going LocalBitcoins route: * Sell your Bitcoin for cash in person the same day * Obtain more cash than what you see posted in Bitstamp.net's quote often by a huuuge margin. * Gets to bypass having to enter your bank account which is great for your privacy if other users have access to your bank statement. * Have cold hard cash in your pocket without having to go through any process such as ATM, Gateway withdrawal, etc that MAY charge you hefty fees. CONS of going LocalBitcoins route: * Your customer who purchased the BTC from you on the street may use it for nefarious purposes, you may get questioned later by the cops specially if that BTC that you just sold originated from your coinbase account, also risking getting banned from Coinbase. * You might get robbed if you dont choose a nice safe neutral location to conduct your LocalBitcoin transaction. * Depending on your jurisdiction, you might get into legal trouble for not having a Money Services License, but there is an exception (needs further confirmation) that allows you to sell up to a certain limit without having to obtain such license or permit. Another method of withdrawal is to buy in a store that accepts Bitcoin, that way you can pay with Bitcoin directly for your merchandise, or you can offer your retailer to accept payment in Bitcoin and hope for an agreement.
  11. In request of another member on the chatbox I have decided to create a thread explaining what it takes to achieve a hash rate of 2.1 Giga Hash per Second to mine Ethereum tokens (ETH). According to http://badmofo.github.io/ethereum-mining-calculator/ in "choose your GPU", a R0 270x does 23.2 MH/s and a standard cluster with standard unmodified AMD drivers would allow a max of 4 GPU per Windows config, you setup a 4 GPU setup using USB PCI-e risers and you get 23.2 x 4 which is 92.8 MH/s and then you go to http://www.dragonfrugal.com/coin-prices/index.php#tab4 and input 92.8 MH/s in hash rate and it would take you 1.4 days to find a block. NOW for your question, what does it take to get to 2.1 GHash/s? Well, it would take that setup I just showed you times 23, you will need 23 motherboards with four R9 270x GPU on each, or Ubuntu Linux that would probably allow you to setup about 8 GPU's per motherboard, in such as case you will need half the motherboard but more much powerful Power Supply Units to handle the total amperage per rig. In short, prepare to spend $139.00 per R9 270x (ebay prices) thats $12,788 investment on GPU's alone, not counting for all those 23 Power Supply Units of over 1,800 W each you will require that would set you back about $159 for each one of them, plus the cost of motherboard, CPU+RAM, you will probably need plenty of RAM per motherboard (you will need to research ETH protocol to find out if lots of RAM on motherboard is required specially for a multi GPU setup), CPU heat sinks, and a few boxes/woods/shelf or whatever to assemble the thing. I would just rather buy ETH directly, with that much money you can get way more than 1,500 so you can quality to POS staking when the time arrives, and did you know some where in mid 2016 POW mining will end, meaning all that hard work and investment you did in setting up these GPU mining rigs would be useless for mining further ETH's Here is a break down of what I estimate you will need to start mining ETH at a hash rate of 2.1 GH/s: 23 Motherboards at $40 each = $920 23 Dual Core 2.66 CPU's at $8 each = $184 23 CPU Heat sinks at $5 each = $115 23 2 GB DDR2 RAM at $5 each = $115 23 32 GB SATA Hard Drive for Operating System loading plus programs, etc (32 GB is a very conservative capacity and its enough for this purpose, Windows 7 requires 15 GB of disk space, so you have the balance for anything else) at $17.86 = $ 410.78 23 SATA cable at $2.71 each = $ 62.33 23 1,800W Power Supply Units at $81.94 = $1,884.62 23 12 feet Ethernet cable at $$4.25 each = $97.75 <- OR -> buy one pool of 500 feet Cat 5e ethernet cable for $45 plus a bag of 50 RJ45 ethernet heads for $10 and a $10 Ethernet Crimper and make your own cables total $65. Three 8 port Network Switches (1 upling and 7 usable = 21 ports plus 2 ports of your existing router, if you dont have any extra ports in your existing router then you will need one more 8 port switch) at $15 each = $45 92 GPU (R9 270X) at $139.00 (Ebay price) = $12,788 92 PCIE Powered Cable 1X To 16X Riser Card at $2.99 each = $ 275.08 At least 4 16 GB fast USB Flash Drives that you are going to use to either create Windows 7 USB installers or Ubuntu Linux Installers so you can setup the operating systems to 4 rigs at a time at $10 each = $40 Total: $16,904.81 This would be your estimated total expense to match or exceed the highest ETH miner in http://ethpool.org/whose hash rate is 2.1 GH/s According to http://www.dragonfrugal.com/coin-prices/index.php#tab4 you will be earning 76.3031778 ETH per day (it will take you 1.57 hour to find one block) hashing at 2,100 MHash per second (2.1 GH/s) at current market rate of $4.56 per ETH that represents a daily earning of $ 347.942490768 if the market value were not to increase and if new miners were not to come online to bring up the difficulty, it would take you 48.58506922418894 Days to Break Even your initial mining rig investment. If you like my article consider donating some Ethereum: 0xfdf097f187ce3a212e8664c7c2791e0269b4ec6d I am in the hunt for more ETH and I would appreciate your contribution.
  12. alright, I found my gatehub key, I indeed did had created a back up of this key, just that I did not remember having done that, so I started searching my external hard drives and usb flash drives, and sure enough I found it, so I was able to reset my password and I have exactly 948.77 XRP's there for which I just realize I can't touch without verifying my account there, I tried clicking on send to send the funds to my offline wallet but nothing, that "identity" screen keeps on popping up. Unless I have a very compelling reason, I dont think I will complete verification on gatehub since I am content trading with my offline wallet at this time. Anyways, this should serve as a reminder for anyone with a gatehub account to obtain your key if you haven't done so already, because it looks like its very important in the event that you forget your password, by the looks of it, I dont even think Gatehub support would be able to help you get your password if you ever lose your gatehub key and forget your password (I may be wrong, but its better to be safe than to be sorry)
  13. Thank you, that's what I would have to do I guess. But anyways here is a screenshot of the prompts I am getting: http://postimg.org/image/x632ajdir/ Hopefully i can get this resolved soon.
  14. I forgot my gatehub password, when I tried to recover it its asking me for a recovery key, I dont remember being given or creating a recovery key when I created my Gatehub account. I should have there over 100 XRP's there and I have not completed the RippleTrade migration process and have been trading with the offline wallet so I am not loosing sleep for not being able to log in, but I am baffle that a required recovery key is required on my part before I can create a new password after clicking on the password reset link sent to my email. I wanted to see my gatehub account before participating in TomB's thread about gatehub constructive criticism because last time I remember, many many months ago, Gatehub only shows prices in terms of, example: 145.75 instead of example: 0.006855 for which I am more used to seeing and back then I was not able to change the price interpretation (in rippletrade you just click on "flip" to change quote model, that was missing on gatehub back then when I checked on them, I wanted to see if that has changed)
  15. If you don't have enough money to afford to lose, then you should buy exactly 31,415.9265 XRP If you do have enough money to afford to lose, then you should buy exactly 31,415,926.5359 XRP
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