Second Chance BTC: Euler’s Formula, Euler’s Identity, Drivechains and Stochastic Process
What I previously wrote about $IXC (Ixcoin) and it being an internet exchange point for data still holds with what I am about to describe next. I am going to try and make this as easy to understand as I possibly can, but I think reading this over and over until you “get it” is well worth the time. I am going to number off each important concept as we go along so you can keep track of my main points. I will start with what I previously explained in the previous article:
1. Cryptocurrency is a crowdfunded effort to scale the internet and solve Y2K/Y2K38 programming incompatiblity that involves private sector institutions, international governments, non-profit organizations, etc. and you — the public — yet you don’t know that yet. If you have cryptocurrency, that is held in a wallet — whether that wallet is on a phone, an exchange, or your PC, and that opens up processing power needed for the internet as we know it, to exist.
I had touched on the fact that mobile peer-to-peer networks using smart phones and other types of non-PC devices would help contribute to the processing of data on a scalible internet. If that network, in fact, was used in the operation of carrying out cryptocurrency transactions as well, that would require a smaller blockchain, as well as mass adoption from millions and eventually billions of people. If 6 billion people exist on this planet, how many use the internet? That’s a good question for another day.
What I will say is that the entire “auxpow” blockchain for Bitcoin, since the beginning of merge mining, is carried forward by one, unheralded hero coin. This coin gets overlooked, much like Ixcoin, and even is named in the fashion of Ixcoin — in that its very purpose is indicated in its name.
I am talking about I0coin ($I0C) — i-zero-coin.
With a goofy name, perhaps more misunderstood than “Ix”coin, it is no wonder that this ancient (est. 2011) coin is forgotten and hiding on just one exchange. In fact, this coin is sitting on Cryptopia with just over 500,000 left to buy in its order book. What I am about to propose here may well lead you to racing over to that very exchange to grab some more of this 99.98% minted and fairly distributed coin. If you do that, I cannot blame you. It would be worth the 4-cents (USD). It would be worth 10,000x that or more.
I0coin is secure. It has a hash rate of over 3800 PH/s (petahash per second). Taking over the network would require an energy expenditure that is unimaginable for even a group of malicious miners. At 20,991,210 coins already minted and in circulation, mining your way to a 51% attack is impossible as impossible can get. These qualities all the result of merge mining with Bitcoin since the invention of merge mining with Bitcoin. So note the following:
2. I0coin is secure, and impenetrable. It is a perfect and secure coin to carry out important decentralized exchanges of both cryptocurrency and data. The network has been fortified by the energy put forth into mining and minting it since 2011, and possibly even longer. More on that later..
I0coin is very cheap, yet its hash rate has a direct correlation with its price. I will credit Vlad2Vlad from Bitcointalk on leading me to explore that meaning more from his very informative posts on the I0coin ANN page. If you think of hash rate as a good thing, think of it as making a blockchain very secure because it requires just as much energy put into mining it as it does to take it over maliciously. Bitcoin (which we will call $XBT), has the security benefits that I0coin has, but its price is high because of the number of transactions it carriers out — rather, it has a widespread adoption of use that I0coin has yet to see (at least as I0coin). That leads me to my point:
3. High hash rates should be thought of correctly as high energy expenditure — which are great for securing a network, but the cost has a draining effect on the coin’s price and it is near catastrophic to a coin’s price without widespread adoption and transactions.
If Ixcoin is the internet exchange point for computer-to-computer transactions between networks (blockchains), it is important to carry out those functions using large blocks. Ixcoin recently upgraded to 64 megabyte blocks, which greatly increases its capabilities to produce many transactions per second, as well as handle a high amount of traffic. However, large blocks are simply not as possible on a mobile peer-to-peer network. Enter pruned blockchains. I0coin has those for people to download on its website (izerocoin.net). What is amazing is the sheer size of I0coin’s blockchain. It is over 2 million blocks long. Ever heard of the “longest chain wins” in the event of a 51% attack? I am not saying that I0coin is going to attack Bitcoin’s smaller, yet high hash rate, network. I am saying that the 1.5 minute/block speed I0coin possesses gives it a distinct use-case advantage over Bitcoin (at least $XBT). I0coin’s block speed and security make it an absolute monster in crypto for adoption. Fast transactions but secure and a very long blockchain being reduced to function on a network of mobile phones. Fast as lightning. I use that term for a reason. You may decide to use it yourself. Basically…
4. I0coin has a longer blockchain than any coin or token, as well as security that is topped only by XBT’s superior hashrate, yet it possesses the unique ability to run on a pruned blockchain — reducing the size from 2.4 GB to just 550 MB (as of January 2018) — allowing it to be run for fast, 90-second block transactions — that make it a prime candidate to compliment its PC processed counterpart “IXC” as the most powerful and secure Bitcoin network in the world.
Yes, I absolutely said “Bitcoin network” to indicate my main thesis. I0coin is a direct “copy” of Ixcoin — or so people say. Ixcoin is said to be the original “Bitcoin sidechain”:
5. Bitcoin is to Ixcoin is to I0coin
I always look for mathematical explanations for things when it comes to cryptocurrency. It gives me confidence in my investments as well as more interest in tracking the project. Patience is a quality I seem to posses when it comes to big future payoffs. So let’s dive into the math behind I0coin. I0C could possibly mean:
i⁰ = 1
i(0) = a stationary stochastic process
…both of which use imaginary number i, so that i² = -1
How about IXC, rather “IX”? That could possibly relate to i0 in usage when we use Euler’s Forumula which evaluates to Euler’s Identity:
To evaluate a mathematical problem that can never truly be solved (think about Bitcoin miners “guessing to solve” an impossible math problem) — we need to insert pie for “x”. Doing so ensures that e to the power of i-pie equals zero.
What if the “+1” portion of Euler’s Identity is simply i⁰??? That would also satisfy the evaluation. What does that look like on a graph?
6. Both I0coin and Ixcoin lack the “Block 0” genesis block on their block explorers. Meaning that, the beginning of each coins as their current names are at Block 1 for both Ixcoin and I0coin, respectively. So what, is, their true Block 0? Where do “IX” and “I⁰” end up meeting common ground in the near future? Why has i⁰ traversed the universe at 2 million-plus blocks since 2011?
Notice, e raised to the i⁰ is traveling around the perimeter of a half circle. That particular movement is showing that:
In this expression, set θ = π. This corresponds to the rotation of the number 1 around the origin by π radians (180°), which gives −1.
We can theorize this as:
7. i⁰ (I0C) has been circling around and connecting to all coins around its genesis block, and ultimately connecting with IX at (-1,0) — fusing I0C and IXC. [Bomb explodes]
The logic of the above math gives a visual of IXC and I0C originating from the same “0” point (Bitcoin). That visual reminds me of chiral twins in chemistry. Mirror images of each other from the same base origin:
Let that digest for now. Next article we can go into Unit-Root mathematics and the stochastic process — which will hopefully shed light on my ultimate theory that $IXC and $I0C began at the same genesis block as Bitcoin Core (01/03/2009) or even earlier than that.
Sure, their current names express the chain parameters that began in 2011 at each of their “Block 1” ‘s — but the origin of their actual journey began at Block 0. Using the “Drivechain” solution for scalibility — perhaps only 21 million combined BTC, I0C, and IXC actually exist (rather than 63 million).
That may help explain why only 500,000 I0C and 330,000 IXC are left to buy on Cryptopia. The number of IXC between Yobit and other exchanges may bring IXC to 652,000 total left to buy — and from talking to people within each project — what I do know is you can never go by Coinmarketcap totals, because they are certainly wrong when it comes to the amount in circulation (unless they are already combining different named coins into one-entity).
8. Soon we will have 1 perfect, secure, lightning fast, big blocked, peer-to-peer Bitcoin.
That is the beauty of open sourced code — its all there for you to decipher and figure out. So you should take advantage of it while you can.
