There Are Over 1,000 Alternatives to Bitcoin You’ve Never Heard Of

Scott Simonsen is currently doing research and editing for the UN. He’s most interested in sustainable energy, global politics, and cryptocurrencies.

Bitcoin gets all the attention, especially since it recently rocketed towards $20,000. But many other cryptocurrencies exist, and more are being created at an accelerating rate. A quick look at coinmarketcap.com shows over 1,400 alternatives to Bitcoin (as of this writing), with a combined value climbing towards $1 trillion. So if Bitcoin is so amazing, why do these alternatives exist? What makes them different?

The easy answer is that many are simply copycats trying to piggyback on Bitcoin’s success. However, a handful have made key improvements on some of Bitcoin’s drawbacks, while others are fundamentally different, allowing them to perform different functions. The far more complicated—and fascinating—answer lies in the nitty-gritty details of blockchain, encryption, and mining.

To understand these other cryptocurrencies, Bitcoin’s shortcomings need to first be understood, as the other currencies aim to pick up where Bitcoin falls short.

The Problems With Bitcoin

Bitcoin’s block size is only 1 MB, drastically limiting the number of transactions each block can hold. With the pre-programmed time limit of 10 minutes per block being added, this gives a theoretical maximum of 7 transactions per second. Compared with Visa and PayPal’s significantly higher transactions per second, for example, Bitcoin can’t compete, and with the popularity of Bitcoin soaring, the problem is going to get worse. As of now, around 200,000 transactions are backlogged.

Bitcoin’s scalability problem is also likely to make mining more difficult and increase mining fees. Adding blocks to the blockchain requires doing an alarming amount of computation to find the solution to the SHA-256 cryptographic hash algorithm, for which the miner is rewarded with a geometrically decreasing predetermined amount of Bitcoins, currently at 12.5 per block.

However, each new block takes more computing than the last, meaning it becomes more difficult for less reward. To help offset this, miners can charge fees, and with it becoming more difficult to make a profit, the fees are only going to go up.

Because of the computing power needed to process each block, it has been estimated that each transaction requires enough electricity to power the average home for nine days. If this is true, and if Bitcoin continues to grow at the same rate, some have predicted it will reach an unsustainable level within a decade.

Furthermore, Bitcoin’s blockchain has only one purpose: to handle Bitcoin. Given the complexity of the system, it could be doing much more. Also, Bitcoin is not entirely anonymous. For any given Bitcoin address, the transactions and the balance can be seen, as they are public and stored permanently on the network. The details of the owner can be revealed during a purchase.

Altcoins

Ignoring the copycats, several Bitcoin alternatives—or altcoins—have gained popularity. Some of these are a result of changing the Bitcoin code, which is open-source, effectively creating a hard fork in the blockchain and a new cryptocurrency. Others have their own native blockchains.

Hard forks include Bitcoin Cash, Bitcoin Classic, and Bitcoin XT, all three of which increased the block size. XT changed the block size to 8 MB, allowing for up to 24 transactions per second, whereas Classic only increased it to 2 MB. While these two are now terminated due to a lack of community support, Cash is still going. Its major change was to do away with Segregated Witness, which reduces the size of a transaction by removing the signature data, allowing for more transactions per block.

Another Bitcoin derivative is Litecoin. The major changes from Bitcoin are that the creator, Charlie Lee, reduced the block generation time from 10 minutes to 2.5, and instead of using SHA-256, it uses scrypt, which is considered by some to be a more efficient hashing algorithm.

As far as native blockchains go, there are a lot of altcoins.

One of the most popular—at least by market capitalization—is Ethereum. The key element that distinguishes Ethereum from Bitcoin is that its language is Turing-complete, meaning it can be programmed for just about anything, such as smart contracts, not just its currency, Ether. For example, the United Nations has adopted it to transfer vouchers for food aid to refugees, keep track of carbon outputs, etc.

Monero has solved Bitcoin’s privacy issue. It uses ring signatures, which allow for information about the sender to hide among other pieces of data, effectively creating stealth addresses. This makes the Monero blockchain opaque, not transparent like other blockchains. However, programmers have included a “spend” key and a “view” key, which allow for optional transparency if agreed upon for specific transactions.

Dash has avoided Bitcoin’s logjam by splitting the network into two tiers. The first handles block generation done by miners, much like Bitcoin, but the second tier contains masternodes. These handle the new services of PrivateSend and InstantSend, and they add a level of privacy and speed not seen in other blockchains. These transactions are confirmed by a consensus of the masternodes, thus removing them from the computing and time-intensive project of block generation.

IOTA just did away with blocks altogether. It stands for the Internet of Things Application and depends on users to validate transactions instead of relying on miners and their souped-up computers. As a user conducts a transaction, he/she is required to validate two previous transactions, so the rate of validation will always scale with the amount of transactions.

On the other hand, Ripple, which is now one of the top cryptocurrencies by market capitalization, has taken a completely different approach. While other cryptocurrencies are designed to replace the traditional banking system, Ripple attempts to strengthen it by facilitating bank transfers. That is, bank transfers depend on systems like SWIFT, which is expensive and time-consuming, but Ripple’s blockchain can perform the same functions far more efficiently. Over 100 major banking institutions are signed up to implement it.

Bitcoin isn’t going anywhere anytime soon, but budding crypto-enthusiasts should give heed to these competitors and many others, as they may one day replace it as the dominant cryptocurrency.

Scott Simonsen is currently doing research and editing for the UN. He’s most interested in sustainable energy, global politics, and cryptocurrencies.

This article is republished from Singularity Hub under Creative Commons license. Read the original article here.

NFTs Explained: What They Are and Why They’re Selling for Millions of Dollars

Luke Heemsbergen, PhD, Media and Politics, Deakin University.

A couple of days ago, the musician Grimes sold some animations she made with her brother Mac on a website called Nifty Gateway. Some were one-offs, while others were limited editions of a few hundredand all were snapped up in about 20 minutes, with total takings of more than $6 million.

Despite the steep price tag, anybody can watch or (with a simple right-click) save a copy of the videos, which show a cherub ascending over Mars, Earth, and imaginary landscapes. Rather than a copy of the files themselves, the eager buyers received a special kind of tradable certificate called a “non-fungible token” or NFT. But what they were really paying for was an aura of authenticityand the ability to one day sell that aura of authenticity to somebody else.

NFTs are a cultural answer to creating technical scarcity on the internet, and they allow new types of digital goods. They are making inroads into the realms of high art, rock music, and even new mass-markets of virtual NBA trading cards. In the process, they are also making certain people rich.

How NFTs Work

NFTs are digital certificates that authenticate a claim of ownership to an asset, and allow it to be transferred or sold. The certificates are secured with blockchain technology similar to what underpins Bitcoin and other cryptocurrencies.

A blockchain is a decentralized alternative to a central database. Blockchains usually store information in encrypted form across a peer-to-peer network, which makes them very difficult to hack or tamper with. This in turn makes them useful for keeping important records.

The key difference between NFTs and cryptocurrencies is that currencies allow fungible trade, which means anyone can create Bitcoins that can be exchanged for other Bitcoins. NFTs are by definition non-fungible, and are deployed as individual chains of ownership to track a specific asset. NFTs are designed to uniquely restrict and represent a unique claim on an asset.

And here’s where things get weird. Often, NFTs are used to claim “ownership” of a digital asset that is otherwise completely copiable, pastable, and shareablesuch as a movie, JPEG, or other digital file.

So What Is an Authentic Original Digital Copy?

Online, it’s hard to say what authenticity and ownership really mean. Internet culture and the internet itself have been driven by copying, pasting, and remixing to engender new forms of authentic creative work.

At a technical level, the internet is precisely a system for efficiently and openly taking a string of ones and zeros from this computer and making them accessible on that computer, somewhere else. Content available online is typically what economists call “non-rivalrous goods,” which means that one person watching or sharing or remixing a file doesn’t in any way impede other people from doing the same.

Constant sharing adds up to a near-infinite array of material to view, share, copy, or remix into something new, creating the economies of abundance on which online culture thrives.

TikTok is built around reimagining common audio loops with seemingly endless but unique accompanying visual rituals, which are themselves mimicked in seemingly endless variations. On Twitter, tweets are only valuable to the extent they are retweeted. Fake news only exists insofar as Facebook’s algorithm decides sharing it will increase engagement via driving more sharing.

Information Wants to Be Free

The life and longevity of digital content has depended on its ability to spread. The internet’s pioneering cyber-libertarians had a motto to describe this: information wants to be free. Attempts to stop information spreading online have historically required breaking aspects of technology (like encryption) or legal regimes like copyright.

NFTs, however, bring code and culture together to create a form of control that doesn’t rely on the law or sabotaging existing systems. They create a unique kind of “authenticity” in an otherwise shareable world.

What’s Next?

Nearly 40 years ago, Canadian science-fiction writer William Gibson famously described cyberspace as a “consensual hallucination” in which billions of users agreed that the online world was real. NFTs take this to the next level: they’re a consensual hallucination that this string of ones and zeros is different and more authentic than that (identical) string of ones and zeros.

NFTs work by reintroducing a mutual hallucination of scarcity into a world of abundance. There is no shortage of buyers: the NFT market is already worth hundreds of millions of dollars. Even humble sports trading cards will never be the same.

Are NFTs Different Enough to Break the Internet?

The real function of NFTs is to create a clear delineation between ordinary creators and consumers of online content and those privileged enough to be paid to produce content or claim to own “authentic” work. The internet decentralized content creation, but NFTs are trying to recentralize the distribution of culture.

NFTs facilitate the exchange of fungible money for non-fungible authenticity. It’s a well-known move that occurs in all sorts of industries, and one with a long history in, well, art history.

How the culture-code of NFTs will evolve is anyone’s guess, but at the moment, it is opening a lot of new ways to make new money change hands.

At first take, it might seem that this presents artists everywhere with a recourse to get paid for their otherwise copy-pastable work. Yet creating normative rules around paying for content online has not so far gone smoothly: think of the lackluster payments musicians receive from streaming services like Spotify.

NFTs have also been criticized for their profligate energy consumption, because they depend on a lot of computer power to encrypt their tokens. According to the online calculator at CryptoArt, the computations required to create NFTs for each of Grimes’ animations would have used enough electricity to boil a kettle 1.5 million timesand resulted in around 70 tons of CO2 emissions. I’m not sure that cost for future generations was priced into the current market value, or any appreciation as tokens cryptographically change hands.

Other than their tons of CO2 emissions, what’s real about NFTs is how their creation of technical scarcity enables a new cultural agreement about how something can be authentic and who controls that authenticity. NFTs create new forms of hierarchy, power, and exclusion on the wider web. They have already created a new type of haves and have-nots.

Luke Heemsbergen, PhD, Media and Politics, Deakin University.

This article is republished from Singularity Hub under Creative Commons license. Read the original article here.

How to Embed Trust Into the Foundations of the Internet

Aaron Frank is a writer and speaker and one of the earliest hires at Singularity University.

Earlier this year, a digital artist conned unsuspecting NFT collectors to highlight a vulnerability in the way cryptographically secured assets are managed online. The anonymous artist, known by their twitter handle @neitherconfirm, sold a collection of stylized portraits as NFTs, but once sold, immediately changed the image file associated with the token to photos of rugs. And not even originals—just watermarked pictures of ugly carpets.

The symbolism wasn’t lost on the crypto community, where “rug pulls” are a well-known scam in which unsuspecting traders are left holding worthless cryptocurrency.

The mostly harmless prank by @neitherconfirm calls attention to the way some NFT file storage relies on centralized mechanisms through which single individuals can still manipulate the data associated with an NFT. Similarly, if a digital marketplace hosting and minting NFTs with centralized addresses later disappears, those NFTs may become worthless. Some collectors buying NFT tweets, for example, learned the hard way that if a tokenized tweet is deleted, they become the proud owner of an NFT pointing to nothing at all.

It’s understandable if you’re skeptical of NFT collecting and wonder whether it’s merely a casino for the crypto elite. Why care about the challenges of NFT data management? Behind the hype, there could be something substantial taking shape. The protocol now widely used to mitigate these issues, called the Interplanetary File System (or IPFS for short), has broader applications, and could fundamentally reshape how all data is managed across the web.

When I recently spoke to Molly Mackinlay, who leads product and engineering at Protocol Labs—a company overseeing the development of IPFS—she suggested the protocol may affect a range of significant sociopolitical systems. IPFS-enabled file preservation and data authentication could impact judicial systems, historical archiving in the digital world, and even bolster the fight against “fake news” and misinformation when trust in journalism is declining.

During our conversation, Mackinlay said today’s internet architecture requires us to trust centralized intermediaries (and those with access to them) not to quietly change online information like news articles, scientific data sets, or images associated with an NFT. But as we’ve seen, the internet is always changing in both obvious and subtle ways.

The early days of the Covid-19 pandemic in the US offers a relevant case in point, when the Trump administration ordered hospitals to send patient data to centralized databases in Washington, bypassing the CDC which traditionally had received such data. The unusual move prompted fears that the data might be altered in politicized ways which could undermine research efforts. There were similar fears that the EPA might modify climate data.

“Understanding which version of a data file you’re accessing should be built directly into data on the internet, and if you need to reference a specific version of an article, image, or scientific data set, you should know if the thing you’re getting back has been altered,” Mackinlay said.

As a protocol, IPFS could yield a more dependable archive for our ephemeral internet. “Ultimately, what we’re talking about is technologically embedding trust right into the protocol itself,” Mackinlay said.

To understand the implications of IPFS, Mackinlay framed it within the development of Web3, a significant shift in the way we design the internet. At its core, Web3 is the return to a decentralized internet. An online world that’s less reliant on centralized institutions and has layers of authentication embedded directly into its architecture. In a 2018 talk, Protocol Labs CEO, Juan Benet, suggested Web3 could do for internet services and applications what Bitcoin hopes to do for money—remove centralized intermediaries while preserving trust.

At its heart, IPFS is a peer-to-peer data storage system (not unlike the original Napster or BitTorrent). Instead of storing files on a central server, data is distributed across a network of participants incentivized to host and verify the legitimacy of the data. Those willing to offer unused hard drive space to store IPFS “objects” are rewarded by a complementary system called Filecoin, a blockchain that oversees payments to those storing files and data.

Another critical aspect of IPFS relates to something called addressing.

Addressing is how internet users access content online. Protocol Labs hopes to swap out the widespread use of location-based addressing with something called “content-addressing.” With location addressing, URLs and domain names point to a specific place where an image file or news article is hosted, and it doesn’t matter to the URL what content is stored there. It can be an NFT of a portrait one day and an ugly carpet the next. Content-based addressing, by contrast, manages data by confirming and verifying what the file is rather than where it’s located.

Every piece of data on the IPFS network is stored as an “object” and given a unique hash (a sort of digital fingerprint). When someone enters an IPFS web address, they are asking the network to show them a file associated with the specific hash entered. And because the data cannot be changed without also changing the hash associated with it, the user can trust that the file returned by the network contains the legitimate data they requested.

For NFT collectors purchasing a file created with IPFS, they can be sure that the NFT is associated with a piece of content that cannot be changed. Here is an example of an NFT’s metadata (which an NFT collector would “own” the record of), and here is the NFT image itself.

Beyond securing the long-term value of NFTs, a range of organizations are using IPFS, including Project Starling, a joint venture from Reuters, Stanford, and USC aiming to boost trust in news media. During Reuters’ coverage of the 2020 US election, photojournalists were given devices that used IPFS to create hashes for photographs and then upload them to Filecoin’s decentralized storage network. In this way, the authenticity of the image was preserved at the point of capture. The hope is that IPFS will make manipulating news images increasingly difficult in the future.

It’s worth noting that IPFS is as much a community of independent node operators as it is a core technology. It’s not clear, for example, how decentralized (and takedown-resistant) file hosting will deal with the inevitable challenges of copyright issues and other more objectionable content. In these cases, Mackinlay pointed out that the burden of responsibility to comply with local and federal laws shifts to individuals participating as nodes on the network, and pointed toward the beginnings of a content moderation mechanism being designed for a decentralized web.

Given the social challenges that centralized platform companies have had in moderating content online, the idea of a public, transparent, and community driven moderation process could even be a welcome change. At a minimum, it’s clearly recognized by the Web3 community as an issue to focus on.

“IPFS is designed around the belief that no one person or company should have unilateral control over all available content on the internet. No node should be forced to host content they don’t want to, and vice versa, no central node controls what the entire network of independent nodes can and can’t host,” Mackinlay said.

As decentralized architecture works to replace the centralized systems of today’s internet, IPFS could grow to power many of the coming products and services at the heart of Web3. While it’s not yet clear whether unfettered decentralization is good for every aspect of our online lives, it’s likely that it will be useful for many things. And for those use cases, IPFS should prove to be a solid protocol for the online world of tomorrow.

Aaron Frank is a writer and speaker and one of the earliest hires at Singularity University.

This article is republished from Singularity Hub under Creative Commons license. Read the original article here.

Why good people turn bad online

Gaia Vince, writer and broadcaster specialising in science and the environment.

On the evening of 17 February 2018, Professor Mary Beard posted on Twitter a photograph of herself crying. The eminent University of Cambridge classicist, who has almost 200,000 Twitter followers, was distraught after receiving a storm of abuse online. This was the reaction to a comment she had made about Haiti. She also tweeted: “I speak from the heart (and of cource I may be wrong). But the crap I get in response just isnt on; really it isnt.”

In the days that followed, Beard received support from several high-profile people. Greg Jenner, a fellow celebrity historian, tweeted about his own experience of a Twitterstorm: “I’ll always remember how traumatic it was to suddenly be hated by strangers. Regardless of morality – I may have been wrong or right in my opinion – I was amazed (later, when I recovered) at how psychologically destabilising it was to me.”

Those tweeting support for Beard – irrespective of whether they agreed with her initial tweet that had triggered the abusive responses – were themselves then targeted. And when one of Beard’s critics, fellow Cambridge academic Priyamvada Gopal, a woman of Asian heritage, set out her response to Beard’s original tweet in an online article, she received her own torrent of abuse.

There is overwhelming evidence that women and members of ethnic minority groups are disproportionately the target of Twitter abuse. Where these identity markers intersect, the bullying can become particularly intense, as experienced by black female MP Diane Abbott, who alone received nearly half of all the abusive tweets sent to female MPs during the run-up to the 2017 UK general election. Black and Asian female MPs received on average 35 per cent more abusive tweets than their white female colleagues even when Abbott was excluded from the total.

The constant barrage of abuse, including death threats and threats of sexual violence, is silencing people, pushing them off online platforms and further reducing the diversity of online voices and opinion. And it shows no sign of abating. A survey last year found that 40 per cent of American adults had personally experienced online abuse, with almost half of them receiving severe forms of harassment, including physical threats and stalking. 70 per cent of women described online harassment as a “major problem”.

The business models of social media platforms, such as YouTube and Facebook, promote content that is more likely to get a response from other users because more engagement means better opportunities for advertising. But this has a consequence of favouring divisive and strongly emotive or extreme content, which can in turn nurture online “bubbles” of groups who reflect and reinforce each other’s opinions, helping propel the spread of more extreme content and providing a niche for “fake news”. In recent months, researchers have revealed many ways that various vested interests, including Russian operatives, have sought to manipulate public opinion by infiltrating social media bubbles.

Our human ability to communicate ideas across networks of people enabled us to build the modern world. The internet offers unparalleled promise of cooperation and communication between all of humanity. But instead of embracing a massive extension of our social circles online, we seem to be reverting to tribalism and conflict, and belief in the potential of the internet to bring humanity together in a glorious collaborating network now begins to seem naive. While we generally conduct our real-life interactions with strangers politely and respectfully, online we can be horrible. How can we relearn the collaborative techniques that enabled us to find common ground and thrive as a species?

“Don’t overthink it, just press the button!”

I click an amount, impoverishing myself in an instant, and quickly move on to the next question, aware that we’re all playing against the clock. My teammates are far away and unknown to me. I have no idea if we’re all in it together or whether I’m being played for a fool, but I press on, knowing that the others are depending on me.

I’m playing in a so-called public goods game at Yale University’s Human Cooperation Lab. The researchers here use it as a tool to help understand how and why we cooperate, and whether we can enhance our prosocial behaviour.

Over the years, scientists have proposed various theories about why humans cooperate so well that we form strong societies. The evolutionary roots of our general niceness, most researchers now believe, can be found in the individual survival advantage humans experience when we cooperate as a group. I’ve come to New Haven, Connecticut, in a snowy February, to visit a cluster of labs where researchers are using experiments to explore further our extraordinary impulse to be nice to others even at our own expense.

The game I’m playing, on Amazon’s Mechanical Turk online platform, is one of the lab’s ongoing experiments. I’m in a team of four people in different locations, and each of us is given the same amount of money to play with. We are asked to choose how much money we will contribute to a group pot, on the understanding that this pot will then be doubled and split equally among us.

This sort of social dilemma, like all cooperation, relies on a certain level of trust that the others in your group will be nice. If everybody in the group contributes all of their money, all the money gets doubled, redistributed four ways, and everyone doubles their money. Win–win!

“But if you think about it from the perspective of an individual,” says lab director David Rand, “for each dollar that you contribute, it gets doubled to two dollars and then split four ways – which means each person only gets 50 cents back for the dollar they contributed.”

Even though everyone is better off collectively by contributing to a group project that no one could manage alone – in real life, this could be paying towards a hospital building, or digging a community irrigation ditch – there is a cost at the individual level. Financially, you make more money by being more selfish.

Rand’s team has run this game with thousands of players. Half of them are asked, as I was, to decide their contribution rapidly – within 10 seconds – whereas the other half are asked to take their time and carefully consider their decision. It turns out that when people go with their gut, they are much more generous than when they spend time deliberating.

“There is a lot of evidence that cooperation is a central feature of human evolution,” says Rand. Individuals benefit, and are more likely to survive, by cooperating with the group. And being allowed to stay in the group and benefit from it is reliant on our reputation for behaving cooperatively.

“In the small-scale societies that our ancestors were living in, all our interactions were with people that you were going to see again and interact with in the immediate future,” Rand says. That kept in check any temptation to act aggressively or take advantage and free-ride off other people’s contributions. “It makes sense, in a self-interested way, to be cooperative.”

Cooperation breeds more cooperation in a mutually beneficial cycle. Rather than work out every time whether it’s in our long-term interests to be nice, it’s more efficient and less effort to have the basic rule: be nice to other people. That’s why our unthinking response in the experiment is a generous one.

Throughout our lives, we learn from the society around us how cooperative to be. But our learned behaviours can also change quickly.

Those in Rand’s experiment who play the quickfire round are mostly generous and receive generous dividends, reinforcing their generous outlook. Whereas those who consider their decisions are more selfish, resulting in a meagre group pot, reinforcing an idea that it doesn’t pay to rely on the group. So, in a further experiment, Rand gave some money to people who had played a round of the game. They were then asked how much they wanted to give to an anonymous stranger. This time, there was no incentive to give; they would be acting entirely charitably.

It turned out there were big differences. The people who had got used to cooperating in the first stage gave twice as much money in the second stage as the people who had got used to being selfish did. “So we’re affecting people’s internal lives and behaviour,” Rand says. “The way they behave even when no one’s watching and when there’s no institution in place to punish or reward them.”

Rand’s team have tested how people in different countries play the game, to see how the strength of social institutions – such as government, family, education and legal systems – influences behaviour. In Kenya, where public sector corruption is high, players initially gave less generously to the stranger than players in the US, which has less corruption. This suggests that people who can rely on relatively fair social institutions behave in a more public-spirited way; those whose institutions are less reliable are more protectionist. However, after playing just one round of the cooperation-promoting version of the public goods game, the Kenyans’ generosity equalled the Americans’. And it cut both ways: Americans who were trained to be selfish gave a lot less.

So is there something about online social media culture that makes some people behave meanly? Unlike ancient hunter-gatherer societies, which rely on cooperation and sharing to survive and often have rules for when to offer food to whom across their social network, social media have weak institutions. They offer physical distance, relative anonymity and little reputational or punitive risk for bad behaviour: if you’re mean, no one you know is going to see.

I trudge a couple of blocks through driving snow to find Molly Crockett’s Psychology Lab, where researchers are investigating moral decision-making in society. One area they focus on is how social emotions are transformed online, in particular moral outrage. Brain-imaging studies show that when people act on their moral outrage, their brain’s reward centre is activated – they feel good about it. This reinforces their behaviour, so they are more likely to intervene in a similar way again. So, if they see somebody acting in a way that violates a social norm, by allowing their dog to foul a playground, for instance, and they publicly confront the perpetrator about it, they feel good afterwards. And while challenging a violator of your community’s social norms has its risks – you may get attacked – it also boosts your reputation.

In our relatively peaceful lives, we are rarely faced with outrageous behaviour, so we rarely see moral outrage expressed. Open up Twitter or Facebook and you get a very different picture. Recent research shows that messages with both moral and emotional words are more likely to spread on social media – each moral or emotional word in a tweet increases the likelihood of it being retweeted by 20 per cent.

“Content that triggers outrage and that expresses outrage is much more likely to be shared,” Crockett says. What we’ve created online is “an ecosystem that selects for the most outrageous content, paired with a platform where it’s easier than ever before to express outrage”.

Unlike in the offline world, there is no personal risk in confronting and exposing someone. It only takes a few clicks of a button and you don’t have to be physically nearby, so there is a lot more outrage expressed online. And it feeds itself. “If you punish somebody for violating a norm, that makes you seem more trustworthy to others, so you can broadcast your moral character by expressing outrage and punishing social norm violations,” Crockett says. “And people believe that they are spreading good by expressing outrage – that it comes from a place of morality and righteousness.

“When you go from offline – where you might boost your reputation for whoever happens to be standing around at the moment – to online, where you broadcast it to your entire social network, then that dramatically amplifies the personal rewards of expressing outrage.”

This is compounded by the feedback people get on social media, in the form of likes and retweets and so on. “Our hypothesis is that the design of these platforms could make expressing outrage into a habit, and a habit is something that’s done without regard to its consequences – it’s insensitive to what happens next, it’s just a blind response to a stimulus,” Crockett explains.

“I think it’s worth having a conversation as a society as to whether we want our morality to be under the control of algorithms whose purpose is to make money for giant tech companies,” she adds. “I think we would all like to believe and feel that our moral emotions, thoughts and behaviours are intentional and not knee-jerk reactions to whatever is placed in front of us that our smartphone designer thinks will bring them the most profit.”

On the upside, the lower costs of expressing outrage online have allowed marginalised, less-empowered groups to promote causes that have traditionally been harder to advance. Moral outrage on social media played an important role in focusing attention on the sexual abuse of women by high-status men. And in February 2018, Florida teens railing on social media against yet another high-school shooting in their state helped to shift public opinion, as well as shaming a number of big corporations into dropping their discount schemes for National Rifle Association members.

“I think that there must be ways to maintain the benefits of the online world,” says Crockett, “while thinking more carefully about redesigning these interactions to do away with some of the more costly bits.”

Someone who’s thought a great deal about the design of our interactions in social networks is Nicholas Christakis, director of Yale’s Human Nature Lab, located just a few more snowy blocks away. His team studies how our position in a social network influences our behaviour, and even how certain influential individuals can dramatically alter the culture of a whole network.

The team is exploring ways to identify these individuals and enlist them in public health programmes that could benefit the community. In Honduras, they are using this approach to influence vaccination enrolment and maternal care, for example. Online, such people have the potential to turn a bullying culture into a supportive one.

Corporations already use a crude system of identifying so-called Instagram influencers to advertise their brands for them. But Christakis is looking not just at how popular an individual is, but also their position in the network and the shape of that network. In some networks, like a small isolated village, everyone is closely connected and you’re likely to know everyone at a party; in a city, by contrast, people may be living more closely by as a whole, but you are less likely to know everyone at a party there. How thoroughly interconnected a network is affects how behaviours and information spread around it, he explains.

“If you take carbon atoms and you assemble them one way, they become graphite, which is soft and dark. Take the same carbon atoms and assemble them a different way, and it becomes diamond, which is hard and clear. These properties of hardness and clearness aren’t properties of the carbon atoms – they’re properties of the collection of carbon atoms and depend on how you connect the carbon atoms to each other,” he says. “And it’s the same with human groups.”

Christakis has designed software to explore this by creating temporary artificial societies online. “We drop people in and then we let them interact with each other and see how they play a public goods game, for example, to assess how kind they are to other people.”

Then he manipulates the network. “By engineering their interactions one way, I can make them really sweet to each other, work well together, and they are healthy and happy and they cooperate. Or you take the same people and connect them a different way and they’re mean jerks to each other and they don’t cooperate and they don’t share information and they are not kind to each other.”

In one experiment, he randomly assigned strangers to play the public goods game with each other. In the beginning, he says, about two-thirds of people were cooperative. “But some of the people they interact with will take advantage of them and, because their only option is either to be kind and cooperative or to be a defector, they choose to defect because they’re stuck with these people taking advantage of them. And by the end of the experiment everyone is a jerk to everyone else.”

Christakis turned this around simply by giving each person a little bit of control over who they were connected to after each round. “They had to make two decisions: am I kind to my neighbours or am I not; and do I stick with this neighbour or do I not.” The only thing each player knew about their neighbours was whether each had cooperated or defected in the round before. “What we were able to show is that people cut ties to defectors and form ties to cooperators, and the network rewired itself and converted itself into a diamond-like structure instead of a graphite-like structure.” In other words, a cooperative prosocial structure instead of an uncooperative structure.

In an attempt to generate more cooperative online communities, Christakis’s team have started adding bots to their temporary societies. He takes me over to a laptop and sets me up on a different game. In this game, anonymous players have to work together as a team to solve a dilemma that tilers will be familiar with: each of us has to pick from one of three colours, but the colours of players directly connected to each other must be different. If we solve the puzzle within a time limit, we all get a share of the prize money; if we fail, no one gets anything. I’m playing with at least 30 other people. None of us can see the whole network of connections, only the people we are directly connected to – nevertheless, we have to cooperate to win.

I’m connected to two neighbours, whose colours are green and blue, so I pick red. My left neighbour then changes to red so I quickly change to blue. The game continues and I become increasingly tense, cursing my slow reaction times. I frequently have to switch my colour, responding to unseen changes elsewhere in the network, which send a cascade of changes along the connections. Time’s up before we solve the puzzle, prompting irate responses in the game’s comments box from remote players condemning everyone else’s stupidity. Personally, I’m relieved it’s over and there’s no longer anyone depending on my cackhanded gaming skills to earn money.

Christakis tells me that some of the networks are so complex that the puzzle is impossible to solve in the timeframe. My relief is shortlived, however: the one I played was solvable. He rewinds the game, revealing for the first time the whole network to me. I see now that I was on a lower branch off the main hub of the network. Some of the players were connected to just one other person, but most were connected to three or more. Thousands of people from around the world play these games on Amazon Mechanical Turk, drawn by the small fee they earn per round. But as I’m watching the game I just played unfold, Christakis reveals that three of these players are actually planted bots. “We call them ‘dumb AI’,” he says.

His team is not interested in inventing super-smart AI to replace human cognition. Instead, the plan is to infiltrate a population of smart humans with dumb-bots to help the humans help themselves.

“We wanted to see if we could use the dumb-bots to get the people unstuck so they can cooperate and coordinate a little bit more – so that their native capacity to perform well can be revealed by a little assistance,” Christakis says. He found that if the bots played perfectly, that didn’t help the humans. But if the bots made some mistakes, they unlocked the potential of the group to find a solution.

“Some of these bots made counter-intuitive choices. Even though their neighbours all had green and they should have picked orange, instead they also picked green.” When they did that, it allowed one of the green neighbours to pick orange, “which unlocks the next guy over, he can pick a different colour and, wow, now we solve the problem”. Without the bot, those human players would probably all have stuck with green, not realising that was the problem. “Increasing the conflicts temporarily allows their neighbours to make better choices.”

By adding a little noise into the system, the bots helped the network to function more efficiently. Perhaps a version of this model could involve infiltrating the newsfeeds of partisan people with occasional items offering a different perspective, helping to shift people out of their social media comfort-bubbles and allow society as a whole to cooperate more.

Much antisocial behaviour online stems from the anonymity of internet interactions – the reputational costs of being mean are much lower than offline. Here, bots may also offer a solution. One experiment found that the level of racist abuse tweeted at black users could be dramatically slashed by using bot accounts with white profile images to respond to racist tweeters. A typical bot response to a racist tweet would be: “Hey man, just remember that there are real people who are hurt when you harass them with that kind of language.” Simply cultivating a little empathy in such tweeters reduced their racist tweets almost to zero for weeks afterwards.

Another way of addressing the low reputational cost for bad behaviour online is to engineer in some form of social punishment. One game company, League of Legends, did that by introducing a “Tribunal” feature, in which negative play is punished by other players. The company reported that 280,000 players were “reformed” in one year, meaning that after being punished by the Tribunal they had changed their behaviour and then achieved a positive standing in the community. Developers could also build in social rewards for good behaviour, encouraging more cooperative elements that help build relationships.

Researchers are already starting to learn how to predict when an exchange is about to turn bad – the moment at which it could benefit from pre-emptive intervention. “You might think that there is a minority of sociopaths online, which we call trolls, who are doing all this harm,” says Cristian Danescu-Niculescu-Mizil, at Cornell University’s Department of Information Science. “What we actually find in our work is that ordinary people, just like you and me, can engage in such antisocial behaviour. For a specific period of time, you can actually become a troll. And that’s surprising.”

It’s also alarming. I mentally flick back through my own recent tweets, hoping I haven’t veered into bullying in some awkward attempt to appear funny or cool to my online followers. After all, it can be very tempting to be abusive to someone far away, who you don’t know, if you think it will impress your social group.

Danescu-Niculescu-Mizil has been investigating the comments sections below online articles. He identifies two main triggers for trolling: the context of the exchange – how other users are behaving – and your mood. “If you’re having a bad day, or if it happens to be Monday, for example, you’re much more likely to troll in the same situation,” he says. “You’re nicer on a Saturday morning.”

After collecting data, including from people who had engaged in trolling behaviour in the past, Danescu-Niculescu-Mizil built an algorithm that predicts with 80 per cent accuracy when someone is about to become abusive online. This provides an opportunity to, for example, introduce a delay in how fast they can post their response. If people have to think twice before they write something, that improves the context of the exchange for everyone: you’re less likely to witness people misbehaving, and so less likely to misbehave yourself.

The good news is that, in spite of the horrible behaviour many of us have experienced online, the majority of interactions are nice and cooperative. Justified moral outrage is usefully employed in challenging hateful tweets. A recent British study looking at anti-Semitism on Twitter found that posts challenging anti-Semitic tweets are shared far more widely than the anti-Semitic tweets themselves. Most hateful posts were ignored or only shared within a small echo chamber of similar accounts. Perhaps we’re already starting to do the work of the bots ourselves.

As Danescu-Niculescu-Mizil points out, we’ve had thousands of years to hone our person-to-person interactions, but only 20 years of social media. “Offline, we have all these cues from facial expressions to body language to pitch… whereas online we discuss things only through text. I think we shouldn’t be surprised that we’re having so much difficulty in finding the right way to discuss and cooperate online.”

As our online behaviour develops, we may well introduce subtle signals, digital equivalents of facial cues, to help smooth online discussions. In the meantime, the advice for dealing with online abuse is to stay calm, it’s not your fault. Don’t retaliate but block and ignore bullies, or if you feel up to it, tell them to stop. Talk to family or friends about what’s happening and ask them to help you. Take screenshots and report online harassment to the social media service where it’s happening, and if it includes physical threats, report it to the police.

If social media as we know it is going to survive, the companies running these platforms are going to have to keep steering their algorithms, perhaps informed by behavioural science, to encourage cooperation rather than division, positive online experiences rather than abuse. As users, we too may well learn to adapt to this new communication environment so that civil and productive interaction remains the norm online as it is offline.

“I’m optimistic,” Danescu-Niculescu-Mizil says. “This is just a different game and we have to evolve.”

Gaia Vince, writer and broadcaster specialising in science and the environment. She has been the front editor of the journal Nature Climate Change, the news editor of Nature and online editor of New Scientist.

This article is republished from Mosaic Science under Creative Commons license. Read the original article here.

Solutions for Private Investors

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These 3 energy storage technologies can help solve the challenge of moving to 100% renewable electricity

Energy storage can make facilities like this solar farm in Oxford, Maine, more profitable by letting them store power for cloudy days.
AP Photo/Robert F. Bukaty

Kerry Rippy, National Renewable Energy Laboratory

In recent decades the cost of wind and solar power generation has dropped dramatically. This is one reason that the U.S. Department of Energy projects that renewable energy will be the fastest-growing U.S. energy source through 2050.

However, it’s still relatively expensive to store energy. And since renewable energy generation isn’t available all the time – it happens when the wind blows or the sun shines – storage is essential.

As a researcher at the National Renewable Energy Laboratory, I work with the federal government and private industry to develop renewable energy storage technologies. In a recent report, researchers at NREL estimated that the potential exists to increase U.S. renewable energy storage capacity by as much as 3,000% percent by 2050.

Here are three emerging technologies that could help make this happen.

Longer charges

From alkaline batteries for small electronics to lithium-ion batteries for cars and laptops, most people already use batteries in many aspects of their daily lives. But there is still lots of room for growth.

For example, high-capacity batteries with long discharge times – up to 10 hours – could be valuable for storing solar power at night or increasing the range of electric vehicles. Right now there are very few such batteries in use. However, according to recent projections, upwards of 100 gigawatts’ worth of these batteries will likely be installed by 2050. For comparison, that’s 50 times the generating capacity of Hoover Dam. This could have a major impact on the viability of renewable energy.

One of the biggest obstacles is limited supplies of lithium and cobalt, which currently are essential for making lightweight, powerful batteries. According to some estimates, around 10% of the world’s lithium and nearly all of the world’s cobalt reserves will be depleted by 2050.

Furthermore, nearly 70% of the world’s cobalt is mined in the Congo, under conditions that have long been documented as inhumane.

Scientists are working to develop techniques for recycling lithium and cobalt batteries, and to design batteries based on other materials. Tesla plans to produce cobalt-free batteries within the next few years. Others aim to replace lithium with sodium, which has properties very similar to lithium’s but is much more abundant.

Safer batteries

Another priority is to make batteries safer. One area for improvement is electrolytes – the medium, often liquid, that allows an electric charge to flow from the battery’s anode, or negative terminal, to the cathode, or positive terminal.

When a battery is in use, charged particles in the electrolyte move around to balance out the charge of the electricity flowing out of the battery. Electrolytes often contain flammable materials. If they leak, the battery can overheat and catch fire or melt.

Scientists are developing solid electrolytes, which would make batteries more robust. It is much harder for particles to move around through solids than through liquids, but encouraging lab-scale results suggest that these batteries could be ready for use in electric vehicles in the coming years, with target dates for commercialization as early as 2026.

While solid-state batteries would be well suited for consumer electronics and electric vehicles, for large-scale energy storage, scientists are pursuing all-liquid designs called flow batteries.

Flow battery diagram.
A typical flow battery consists of two tanks of liquids that are pumped past a membrane held between two electrodes.
Qi and Koenig, 2017, CC BY

In these devices both the electrolyte and the electrodes are liquids. This allows for super-fast charging and makes it easy to make really big batteries. Currently these systems are very expensive, but research continues to bring down the price.

Storing sunlight as heat

Other renewable energy storage solutions cost less than batteries in some cases. For example, concentrated solar power plants use mirrors to concentrate sunlight, which heats up hundreds or thousands of tons of salt until it melts. This molten salt then is used to drive an electric generator, much as coal or nuclear power is used to heat steam and drive a generator in traditional plants.

These heated materials can also be stored to produce electricity when it is cloudy, or even at night. This approach allows concentrated solar power to work around the clock.

Man examines valve at end of large piping network.
Checking a molten salt valve for corrosion at Sandia’s Molten Salt Test Loop.
Randy Montoya, Sandia Labs/Flickr, CC BY-NC-ND

This idea could be adapted for use with nonsolar power generation technologies. For example, electricity made with wind power could be used to heat salt for use later when it isn’t windy.

Concentrating solar power is still relatively expensive. To compete with other forms of energy generation and storage, it needs to become more efficient. One way to achieve this is to increase the temperature the salt is heated to, enabling more efficient electricity production. Unfortunately, the salts currently in use aren’t stable at high temperatures. Researchers are working to develop new salts or other materials that can withstand temperatures as high as 1,300 degrees Fahrenheit (705 C).

One leading idea for how to reach higher temperature involves heating up sand instead of salt, which can withstand the higher temperature. The sand would then be moved with conveyor belts from the heating point to storage. The Department of Energy recently announced funding for a pilot concentrated solar power plant based on this concept.

Advanced renewable fuels

Batteries are useful for short-term energy storage, and concentrated solar power plants could help stabilize the electric grid. However, utilities also need to store a lot of energy for indefinite amounts of time. This is a role for renewable fuels like hydrogen and ammonia. Utilities would store energy in these fuels by producing them with surplus power, when wind turbines and solar panels are generating more electricity than the utilities’ customers need.

Hydrogen and ammonia contain more energy per pound than batteries, so they work where batteries don’t. For example, they could be used for shipping heavy loads and running heavy equipment, and for rocket fuel.

Today these fuels are mostly made from natural gas or other nonrenewable fossil fuels via extremely inefficient reactions. While we think of it as a green fuel, most hydrogen gas today is made from natural gas.

Scientists are looking for ways to produce hydrogen and other fuels using renewable electricity. For example, it is possible to make hydrogen fuel by splitting water molecules using electricity. The key challenge is optimizing the process to make it efficient and economical. The potential payoff is enormous: inexhaustible, completely renewable energy.

[Understand new developments in science, health and technology, each week. Subscribe to The Conversation’s science newsletter.]The Conversation

Kerry Rippy, Researcher, National Renewable Energy Laboratory

This article is republished from The Conversation under a Creative Commons license. Read the original article.

Improved Electrolyzer for efficient Hydrogen Generation

Easy aluminum nanoparticles for rapid, efficient hydrogen generation from water

Provided by University of California – Santa Cruz
18 February 2022

Bubbles of hydrogen gas are generated from the reaction of water with an aluminum-gallium composite. Credit: Amberchan et al.

Aluminum is a highly reactive metal that can strip oxygen from water molecules to generate hydrogen gas. Its widespread use in products that get wet poses no danger because aluminum instantly reacts with air to acquire a coating of aluminum oxide, which blocks further reactions.

For years, researchers have tried to find efficient and cost-effective ways to use aluminum‘s reactivity to generate clean hydrogen fuel. A new study by researchers at UC Santa Cruz shows that an easily produced composite of gallium and aluminum creates aluminum nanoparticles that react rapidly with water at room temperature to yield large amounts of hydrogen. The gallium was easily recovered for reuse after the reaction, which yields 90% of the hydrogen that could theoretically be produced from reaction of all the aluminum in the composite.

“We don’t need any energy input, and it bubbles hydrogen like crazy. I’ve never seen anything like it,” said UCSC Chemistry Professor Scott Oliver.

Oliver and Bakthan Singaram, professor of chemistry and biochemistry, are corresponding authors of a paper on the new findings, published February 14 in Applied Nano Materials.

The reaction of aluminum and gallium with water has been known since the 1970s, and videos of it are easy to find online. It works because gallium, a liquid at just above room temperature, removes the passive aluminum oxide coating, allowing direct contact of aluminum with water. The new study, however, includes several innovations and novel findings that could lead to practical applications.

A U.S. patent application is pending on this technology.

Singaram said the study grew out of a conversation he had with a student, coauthor Isai Lopez, who had seen some videos and started experimenting with aluminum-gallium hydrogen generation in his home kitchen.

“He wasn’t doing it in a scientific way, so I set him up with a graduate student to do a systematic study. I thought it would make a good senior thesis for him to measure the hydrogen output from different ratios of gallium and aluminum,” Singaram said.

Previous studies had mostly used aluminum-rich mixtures of aluminum and gallium, or in some cases more complex alloys. But Singaram’s lab found that hydrogen production increased with a gallium-rich composite. In fact, the rate of hydrogen production was so unexpectedly high the researchers thought there must be something fundamentally different about this gallium-rich alloy.

Oliver suggested that the formation of aluminum nanoparticles could account for the increased hydrogen production, and his lab had the equipment needed for nanoscale characterization of the alloy. Using scanning electron microscopy and X-ray diffraction, the researchers showed the formation of aluminum nanoparticles in a 3:1 gallium-aluminum composite, which they found to be the optimal ratio for hydrogen production.

Scanning electron microscopy of the aluminum-gallium composite shows aluminum nanoparticles in a matrix of gallium. Credit: Amberchan et al.

In this gallium-rich composite, the gallium serves both to dissolve the aluminum oxide coating and to separate the aluminum into nanoparticles. “The gallium separates the nanoparticles and keeps them from aggregating into larger particles,” Singaram said. “People have struggled to make aluminum nanoparticles, and here we are producing them under normal atmospheric pressure and room temperature conditions.”

Making the composite required nothing more than simple manual mixing.

“Our method uses a small amount of aluminum, which ensures it all dissolves into the majority gallium as discrete nanoparticles,” Oliver said. “This generates a much larger amount of hydrogen, almost complete compared to the theoretical value based on the amount of aluminum. It also makes gallium recovery easier for reuse.”

The composite can be made with readily available sources of aluminum, including used foil or cans, and the composite can be stored for long periods by covering it with cyclohexane to protect it from moisture.

Although gallium is not abundant and is relatively expensive, it can be recovered and reused multiple times without losing effectiveness, Singaram said. It remains to be seen, however, if this process can be scaled up to be practical for commercial hydrogen production.

More information: Gabriella Amberchan et al, Aluminum Nanoparticles from a Ga–Al Composite for Water Splitting and Hydrogen Generation, ACS Applied Nano Materials (2022). DOI: 10.1021/acsanm.1c04331

APA citation: Easy aluminum nanoparticles for rapid, efficient hydrogen generation from water (2022,February 18) retrieved 22 February 2022 from https://phys.org/news/2022-02-easy-aluminum-nanoparticles-rapid-efficient.html

Source: https://phys.org/pdf564402108.pdf loaded 22.02.2022

Risky Margin Trading, Do It Properly

The volume of leveraged cryptocurrency futures trading has consistently set new highs throughout 2021. Through April, when the market was up, that meant big profits for traders. But when prices dropped back down again in the Spring, it was a different story.

Borrowing money is inherently risky no matter how talented you are, no matter how the market appears to be trending. So if you’re considering margin trading, it’s important to understand what you’re doing, and what you’re risking to do it.

What is margin trading?

Margin trading, put simply, is trading on borrowed money.

In order to receive a loan, you first need collateral (the “margin”). Think of it like a deposit, controlled by your exchange until you repay your loan. Then, according to the rules of the exchange —or the laws of the nation in which it operates — you’ll be able to borrow some multiple of the amount of capital you’ve locked in. The ratio of what you put in versus what you take out is called leverage. For example, if your margin — your collateral — is equal to the amount of money you borrow, you’re said to be leveraged at 2x. If it’s 20%, 5x. And so on.

In order to open leveraged trades on traditional markets, traders have to interact with brokers at certain times of the day. In the cryptocurrency industry, things are much simpler. Anyone can take advantage of centralized or decentralized lending platforms, which operate 24/7 and make the process simple.

 With leverage, potential profits are much greater. On the other hand, potential losses are also much greater.

How to open leveraged positions?

Margin trading positions can be divided into two categories:

  • Long. A trader buys an asset in hopes of selling it at a higher price in the future;
  • Short. The exact opposite. A trader borrows an asset and immediately sells it, in hopes of buying it back at a lower price in the future.

In both cases, the trader earns profit from the difference in the price of the asset at the moment of opening and closing the position. In the first case, the difference must be positive (price increase) in order to profit. In the second case, it must be negative (price decrease).

For example, let’s say you expect Bitcoin’s value will rise in the near future. To benefit from this, you open a long position with 10x leverage and a margin of $1,000. Your position will then amount to $10,000. A 20% rise in the price of BTC will yield $2,000 in profits (minus any associated fees). The return on equity (ROE) of the position — the amount of profit versus the margin — will be 100%. Without leverage, your profit would only be $200 at an ROE of 20%.

Isolated margin and Cross-margin

A number of major crypto exchanges have two types of margin: isolated and cross-margin. In the first case, a fixed margin is allocated as collateral for a certain trading position; that is, it’s isolated from the entire balance on the trader’s margin account, and applies exclusively to one trading pair. In the second case, the margin applies to all of the trader’s positions, and the leveraged funds are counted against the total available margin balance. 

The advantage of the isolated margin is that it limits the maximum loss on a trade (if there are no other limiting conditions, such as a stop loss). Cross-margin allows you to hold several positions at once, which is handy, but the risks apply to your entire wallet. Thus, if even just one position meets the liquidation conditions, all other positions are also automatically closed.

Liquidation 

Here’s the thing: everyone likes profits, but what if the market goes in the opposite direction of what you predicted? What happens then?

Well, if your positions start to take a dive, and you’re verging on not being able to pay back your loan, your exchange will do what they need to to protect themselves. That means liquidating

Liquidation is when an exchange automatically sells off one or several of your positions, in order to ensure that the margin is repaid in full.

Let’s come back to the example from above. Imagine that you open a long position with $1,000 and 10x leverage, but the price of Bitcoin suddenly plunges 10%. That’d put you down $1,000, the value of your margin. If BTC continues to fall you’ll dip below the margin. Now it’s no longer your money, but the exchange’s money that’s on the hook.and

This is where the liquidation mechanism comes in. Before you run out of margin, the exchange automatically closes your long position; that is, it sells the leveraged Bitcoin at market price, recouping the loan plus a liquidation fee.

The threshold at which a position will be liquidated is called the liquidation price. There is no need to calculate it manually — exchanges like BitMEX or Binance have built-in calculators to provide relevant price levels. 

Another important point: the greater the leverage, the closer the liquidation price is to the market price at the time of purchasing. For this reason, it is recommended for beginners to open positions with leverage no higher than 5x. 

Now, using the same example, let’s look at how liquidation would affect your balance with different types of margin.

In the case of cross-margin, the extra money in your account (in addition to the $1,000 to secure the open position) would allow the liquidation price to be “pushed back,” because that money would automatically be used to secure your position. If the liquidation price is finally met, you’d lose all funds across your margin account.

With isolated margin, the maximum loss would be limited to $1,000. With the high volatility of the crypto market, minimizing risk using isolated margin allows you to keep some trading capital even in the most unpredictable situations.

Best practices for leveraged trading

In summary, the main risks associated with margin trading are:

Margin trading is dangerous; it requires effective risk management. No more than 3-5% of your capital should be allocated to any given trade. However, thanks to the isolated margin at such a limit, your profit can be measured in tens of percent on a single trade.

In general, your amount of leverage should be chosen based on where you want to place your stop loss order prior to opening a position. As a reminder, this is a special kind of order that cuts off your potential losses before you get liquidated.

Finally, use isolated margin to diversify your portfolio. It allows you to trade several assets at once — Bitcoin and altcoins — by allocating small portions of your capital to different trading pairs. Then, to be extra safe, you could keep the rest of your money in stablecoins, in case of a market drawdown.

Conclusion

Leveraged trading is risky, especially in the volatile world of cryptocurrencies. In skillful hands, it can be incredibly profitable. But without proper training and planning, it can lead to devastating losses.

Be careful, do diligent research, follow the best practices described in this article, and never bet more than you’re willing to give up. Margin trading is exciting, but it’s no game.

Below are the Top 2 Margin Trading Exchanges:

Binance is the largest, safest and most cost-effective Cryptocurrency Exchange in the world. Binance has super low trading fees, easy deposit and withdrawal from credit card and bank direct deposits.
click here to sign up (10% discount).

FTX Derivatives Exchange, built by traders, for traders. I recently discovered FTX and now use it daily for day trading crypto leveraged tokens and USA Stocks like Tesla and Apple.
click here to sign up at FTX

Source: https://kiwicrypto.org/2021/08/25/risky-margin-trading-do-it-properly loaded 27.08.2021

How To Use Page Jumps in WordPress

Page jumping, also sometimes referred to as anchor links or jump links, is where you click a link and instantly get moved somewhere further up or down a long page. The Table of Contents below is an example of page jumps.

Table of Contents

  1. Why Use Page Jumps?
  2. Create a Page Jump
  3. Link to your Page Jump
  4. Jump Links with No Text
  5. Jump to a Target on Another Page or Post
  6. Jump Back to Top
  7. Page Jumps in a Navigation Menu
  8. Page Jumps as Footnotes
  9. Classic Editor / HTML Page Jumps

Why Use Page Jumps?

A page jump is a great way to link your visitors from one part of your content to another.

For example, let’s say that you have a list of names at the top of a post. You can link each name to a different spot further down in the post, so visitors can go straight to information about the particular name they are interested in. You can then link readers directly back to the list of names.

 These instructions are for the WordPress Editor, or Block Editor. If you are looking for instructions for the Classic Editor or want to create the jump links using HTML click here.


↑ Table of Contents ↑

Create a Page Jump

  1. Use the Plus Icon to add a new block.
  2. Select Heading as the block type, or start typing /heading as a shortcut to the heading block.
  3. Enter your heading text.
  4. On the right side under Block Settings, click on Advanced.
  5. Type a word that will become your link into the HTML Anchor field.

Make sure you have no spaces in your IDs, since that can cause problems in older browsers. Also, be sure to use a different ID for each target that you create.

Create a Page Jump

Remember what you made your anchor / page jump text. You will need it in the next step.


↑ Table of Contents ↑

  1. Type some text, or add an image or button that will become what you want your visitors to click on to go to another section.
  2. Highlight the text or image/button, and select the link option from the block’s toolbar.
    Page Jump - Create Link
  3. Type in the HTML Anchor you created, starting with the pound (#) symbol. For example, if you created an Anchor named create-a-page-jump you would link to #create-a-page-jump.

Now, when visitors click on the link you created, they will go to the header you added the HTML Anchor to when you created a page jump (click here to jump back to that section!)

Page Jump Instructions

The jump links will not work when you Preview your site. But you can test them once you Publish the site page.


↑ Table of Contents ↑

You can also create an empty header and still add an HTML Anchor to it if you do not want to display any text. To do that, add the Heading block and the HTML Anchor in the block settings, but do not type any text for the heading itself. This process is shown in the following GIF:

Page Jump - Empty Header

↑ Table of Contents ↑

Jump to a Target on Another Page or Post

Page jumps don’t have to be used only for jumping within a page. You can use a page jump to link from another page to a specific area on a page.

When you view the live version of the page you created with the page jump, you can click on the link you created, and you’ll see the address of the page in your browser bar is appended with the jump link text.

For example:

  • You created a page on your groovy site named Example, and the page address is yourgroovydomain.com/example
  • Then, you created a jump link called unique-identifier on that page to content further down
  • When you click on the jump link, your page address will change to yourgroovydomain.com/example/#unique-identifier

Now that you have the URL for the target, you can use it to link to that target from any other page or post on your site using the following format https://yourgroovydomain.com/example/#unique-identifier :

Page Jump - Other Page

↑ Table of Contents ↑

Jump Back to Top

To create a jump link back to the top of the page, you would switch the places where the HTML anchor and link text appear.

For example, at the top of your page you would add a heading with an HTML Anchor, and then lower down on your page, you would create a paragraph or button that is linked to the HTML anchor at the top of the page.


↑ Table of Contents ↑

Page Jumps in a Navigation Menu

You can create a page jump from an item in your navigation menu that jumps to a specific spot on your homepage. This is common for sites that have just one long scrolling homepage. Page jumps make it easier for visitors to view the section of the homepage they want.

The first step is to add your anchor to a Heading block using the same method as described in steps 1 – 5 under Create a Page Jump above. This will be the spot to jump to.

In your menu settings, add a new item using the custom link option. In the URL field, write your anchor with a # symbol in front of it. In the Link Text field, write whatever you would like the menu item to say.

Page Jump in Menu Settings
Adding a Page Jump in the menu

Keep in mind that a page jump like #my-anchor will only work on the one page that anchor is on. If you have more than one page on your site and want to make sure the page jump works on all pages, include your domain before the anchor like yourgroovydomain.com/#my-anchor.


↑ Table of Contents ↑

Page Jumps as Footnotes

See our guide on how to create footnotes using page jumps here.

↑ Table of Contents ↑

Classic Editor / HTML Page Jumps

The following instructions are for the Classic Editor, or if you want to manually create page jumps using HTML code. Click here if you’re using the WordPress/Block Editor.


Create a Page Jump

The two parts of a page jump are the target text and the link.
When the link is clicked, it will bring your visitors to the place in the page where the target text exists.

The following code would be added in the HTML version of your editor.
Find out which editor you’re using.

The target text is written like this:

<p id="unique-identifier">I am the target text.</p>

The text above which says id="unique-identifier" acts as a label for your target text.

Make sure you have no spaces in your IDs, since that can cause problems in older browsers. Also, be sure to use a different ID for each target that you create.

One way to link to your target is to select some text, and then use the insert/edit link button. In the URL field there, enter the # symbol, followed by the name of the target’s ID like this:

Notice how the #unique-identifier in the link matches the ID of the target text from earlier.

If you wanted to write this link yourself in HTML code, it would look like this:

<a href="https://wordpress.com/support/splitting-content/page-jumps/view-all/#unique-identifier">Click me!</a>

You can repeat this process to create additional page jumps. Just be sure to use a different ID for each target/link pair. IDs can be anything you want, such as "groovy" or "awesome".


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Sending Readers to the Top of the Page

At the beginning of the post or page, use the Text editor to add this above all of the other HTML:

1&amp;lt;div id="top"&amp;gt; &amp;lt;/div&amp;gt;

This creates an invisible target at the top of your post or page which has top as its ID. It can be helpful to have an invisible target if you don’t actually want to add visible text to the location of the target.

Alternatively, instead of putting the ID attribute on an empty <div> tag to create an invisible target, you can add the ID to the first element on the page – such as a heading – like this:

<h1 id="top">Page Heading</h1>

You can use the insert/edit link button to link existing text to this target by putting #top in the URL field, or you can write this in the Text editor:

<a href="https://wordpress.com/support/splitting-content/page-jumps/view-all/#top">top</a>


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Jumping to a Target on Another Page or Post

Once you have created an target, you can quickly access the URL which links to that target.

Let’s say that you’ve created an target on a page with this URL:

http://myblog.wordpress.com/example

All you have to do is add the # symbol followed by the target ID to the end of the URL like this:

http://myblog.wordpress.com/example/#unique-identifier

Now that you have the URL for the target, you can use it to link to that target from any other page or post on your site:

Source: https://wordpress.com/support/splitting-content/page-jumps loaded 20.08.2021

The Internet Archive has been fighting for 25 years to keep what’s on the web from disappearing – and you can help

People are warned that what they post on the internet will live forever. But that’s not really the case.
3alexd/E+ via Getty Images

Kayla Harris, University of Dayton; Christina Beis, University of Dayton, and Stephanie Shreffler, University of Dayton

This year the Internet Archive turns 25. It’s best known for its pioneering role in archiving the internet through the Wayback Machine, which allows users to see how websites looked in the past.

Increasingly, much of daily life is conducted online. School, work, communication with friends and family, as well as news and images, are accessed through a variety of websites. Information that once was printed, physically mailed or kept in photo albums and notebooks may now be available only online. The COVID-19 pandemic has pushed even more interactions to the web.

You may not realize portions of the internet are constantly disappearing. As librarians and archivists, we strengthen collective memory by preserving materials that document the cultural heritage of society, including on the web. You can help us save the internet, too, as a citizen archivist.

Disappearing act

People and organizations remove content from the web for a variety of reasons. Sometimes it’s a result of changing internet culture, such as the recent shutdown of Yahoo Answers.

It can also be a result of following best practices for website design. When a website is updated, for example, the previous version is overwritten – unless it was archived.

Web archiving is the process of collecting, preserving and providing continued access to information on the internet. Often this work is done by librarians and archivists, with assistance from automated technology like web crawlers.

Web crawlers are programs that index web pages to make them available through search engines, or for long-term preservation. The Internet Archive, a nonprofit organization, uses thousands of computer servers to save multiple digital copies of these pages, requiring over 70 petabytes of data. It is funded through donations, grants and payments for its digitization services. Over 750 million web pages are captured per day in the Internet Archive’s Wayback Machine.

Why archive?

In 2018, President Donald Trump wrongly claimed via Twitter that Google had promoted on its homepage President Barack Obama’s State of the Union address, but not his own. Archived versions of the Google homepage proved that Google had, in fact, highlighted Trump’s State of the Union address in the same manner. Multiple news outlets use the Internet Archive’s Wayback Machine as the source for fact-checking these types of claims, since screenshots alone can be easily altered.

A 2019 report from the Tow Center for Digital Journalism examined the digital archiving practices and policies of newspapers, magazines and other news producers. The interviews revealed that many news media staff either do not have the resources to devote to archiving their work or misunderstand digital archiving by equating it to having a backup version.

When a news story disappeared from the Gawker website a year after the publication shut down, the Freedom of the Press Foundation became concerned with what might happen when wealthy individuals purchase websites with the intent to delete or censor the archives. It partnered with the Internet Archive to launch a web archive collection focused on preserving the web archives of vulnerable news outlets – and to dissuade billionaires from purchasing such material to censor.

A webpage from the Wayback Machine showing 9971 available search results for 'Black Lives Matter' between October 8, 2014, and August 2, 2021.
The web crawls for blacklivesmatter.com in the Internet Archive’s Wayback Machine.
Internet Archive Wayback Machine

Archiving websites that document social justice issues, such as Black Lives Matter, helps explain these movements to people of the present and the future.

Archiving government websites promotes transparency and accountability. Especially during times of transition, government websites are vulnerable to deletion with changing political parties.

In 2017 the Library of Congress announced it would no longer archive every single tweet, because of Twitter’s growth as a communication tool. Twitter supplies the Library of Congress with the texts of tweets, not shared images or videos. Instead of comprehensive collecting, the Library of Congress now archives only tweets of significant national importance.

A pastel colored early home page that reads 'Welcome to the OFFICIAL website of: ty'
Screen capture from the Dec. 18, 1996, archived version of the Ty website, creator of.
Beanie Babies, in the Internet Archive’s Wayback Machine.

Internet Archive Wayback Machine

Archived websites that document the culture and history of the internet, like the Geocities Gallery, not only are fun to look at but illustrate the ways early websites were created and used by individuals.

Citizen archivists

Archiving the internet is a monumental task, one that librarians and archivists cannot do alone. Anyone can be a citizen archivist and preserve history through the Internet Archive’s Wayback Machine. The “Save Page Now” feature allows anyone to freely archive a single, public website page. Bear in mind, some websites prevent web crawling and archiving through special coding or by requiring a login to the site. This may be due to sensitive content or the personal preference of the web developer.

Local cultural heritage institutions, such as libraries, archives and museums, are also actively archiving the internet. Over 800 institutions use Archive-It, a tool from the Internet Archive, to create archived web collections. At the University of Dayton we curate collections related to our Catholic and Marianist heritage, from Catholic blogs to stories of the Virgin Mary in the news.

Through its Spontaneous Event collections, Archive-It partners with organizations and individuals to create collections of “web content related to a specific event, capturing at risk content during times of crisis.”

Similarly, it created the Community Webs program, in partnership with the Institute of Museum and Library Services, to help public libraries create collections of archived web content relevant to local communities.

The websites of today are the historical evidence of tomorrow, but only if they are archived. If they are lost, we will lose crucial information about corporate and government decisions, modern communication methods such as social media, and social movements with significant online presences, such as Black Lives Matter and #MeToo.

Together with librarians and archivists, you can help ensure the survival of this evidence and save internet history.The Conversation

Kayla Harris, Librarian/Archivist at the Marian Library, Associate Professor, University of Dayton; Christina Beis, Director of Collections Strategies & Services, Associate Professor, University Libraries, University of Dayton, and Stephanie Shreffler, Collections Librarian/Archivist and Associate Professor, University Libraries, University of Dayton

This article is republished from The Conversation under a Creative Commons license. Read the original article.

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