Bitcoin Daily Discussion, December 28, 2017 |
- Daily Discussion, December 28, 2017
- What he would be wishing now? ��
- Day 5: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. User demand from this community can help lead to some big changes. Have you joined the /r/Bitcoin SegWit effort?
- Mainnet Lightning Network paying my actual phone bill with actual Mainnet funds on @bitrefill. Speed: Instant. Fee: Zero. Future: Almost Here.
- Calm down guys “Forbes : South Korea Is Not Banning Bitcoin Trade, Financial Regulators Clarify”
- My friend has enough to afford going to medical school one year after investing
- Coinomi: "we are releasing segwit in a few days"
- TIL in 2011 a user running a modified mining client intentionally underpaid himself 1 satoshi, which is the only time bitcoin have ever truly been destroyed.
- Long live decentralized bitcoin(!) A reading list
- My local strip club won't take bitcoin :(
- Bob show me your ways.
- 27/Dec/2017 /r/Bitcoin reaches 600,000 subscribers
- Just checked into a hostel in Taipei and saw this sign.
- I think he's gonna be okay in the end. ��
- Some people forward planning amazes me.
- Basic income experiment receives $5 million worth of bitcoin
- Don't repeat my mistakes. I had everything, now i am broke
- As it is not stated in the Newcomers Thread: YOU DON'T HAVE TO BUY A FULL BITCOIN!
- Some good news for you guys in all this chaos :)
- When comparing the Lightning Network to the legacy payment systems, all detractors either miss or intentionally leave out the most important distinction that gives LN its major advantage —> **Zero counterparty risk**
- How a lot of people behave with Bitcoin ��
- Coinbase Announces 2018 SegWit Support As Third 'Engineering Priority'
- Bitcoin is not a "bubble"
- If Bitcoin is like having your own bank in your pocket, then LN is like adding global-free-instant-checking to your bank!
- Seth Meyers -- Bitcoin Commercial: What Is It and How Does It Work?
| Daily Discussion, December 28, 2017 Posted: 28 Dec 2017 02:00 AM PST Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you! Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow. Suggested Topics
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| What he would be wishing now? �� Posted: 27 Dec 2017 10:54 AM PST
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| Posted: 27 Dec 2017 08:04 PM PST SUMMARY Segregrated Witness (SegWit) was activated on the Bitcoin network August 24, 2017 as a soft fork that is backward compatible with previous bitcoin transactions (Understanding Segregated Witness). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work. If users demand SegWit now it will temporarily releive the transaction backlog while bigger solutions like Lightning are developed. TODAY's NEWS/DEVELOPMENTS/VICTORIES
MEMPOOL/SEGWIT STATISTICS
BACKGROUND Subhan Nadeem has pointed out that: A few thousand bitcoin users from /r/Bitcoin switching to making their next transactions SegWit transactions will help take pressure off the network now, and together we can encourage exchanges/wallets to rapidly deploy SegWit for everyone ASAP. Let's make 80%+ SegWit happen fast. You can help by taking one or more of the action steps below. ACTION STEPS
IMPORTANT NOTE: The mempool is currently still quite backlogged. If you are a long-term holder and really have no reason to move your bitcoins at this time, wait until the mempool starts to clear and transaction fees go down before moving your bitcoins to a SegWit address or SegWit friendly exchange. SELECTED TOP EXCHANGES BY SEGWIT & BATCHING STATUS
SELECTED WALLETS THAT HAVE SEGWIT ALREADY Make sure you have a SegWit capable wallet installed and ready to use for your next bitcoin transaction
FAQs If I'm a HODLer, will it help to send my BTC to a SegWit address now?
Can you please tell me how to move my bitcoins to SegWit address in Bitcoin core wallet? Does the sender or receiver matter?
What wallet are you using to "batch your sends"? And how can I do that?
Why doesn't the Core Wallet yet support SegWit?
Why isn't a large exchange like Coinbase SegWit ready & deployed when much smaller exchanges already are? Why do they default to high fees? Where is the leadership there?
SEGWIT BLOG GUIDES PREVIOUS DAY'S THREADS There's lots of excellent info in the comments of the previous threads:
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| Posted: 27 Dec 2017 04:30 PM PST
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| Calm down guys “Forbes : South Korea Is Not Banning Bitcoin Trade, Financial Regulators Clarify” Posted: 27 Dec 2017 07:53 PM PST
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| My friend has enough to afford going to medical school one year after investing Posted: 27 Dec 2017 06:12 PM PST
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| Coinomi: "we are releasing segwit in a few days" Posted: 27 Dec 2017 12:03 PM PST
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| Posted: 27 Dec 2017 12:48 PM PST In block 124724 you'll find txid 5d80a29b which has a payout of 49.99999999 BTC at a time when the block reward was 50 BTC. A transaction fee of 0.01 BTC was also forfeited. This bitcoin no longer exists anywhere in the network, as opposed to "burned" coins which technically still exist in a wallet which no one can ever access (ex: 1BitcoinEaterAddressDontSendf59kuE). On bitcointalk user midnightmagic explains a deeper meaning behind this:
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| Long live decentralized bitcoin(!) A reading list Posted: 27 Dec 2017 11:38 AM PST Newbs might not know this, but bitcoin recently came out of an intense internal drama. Between July 2015 and August 2017 bitcoin was attacked by external forces who were hoping to destroy the very properties that made bitcoin valuable in the first place. This culminated in the creation of segwit and the UASF (user activated soft fork) movement. The UASF was successful, segwit was added to bitcoin and with that the anti-decentralization side left bitcoin altogether and created their own altcoin called bcash. Bitcoin's price was $2500, soon after segwit was activated the price doubled to $5000 and continued rising until here we are today at $15000. During this drama, I took time away from writing open source code to help educate and argue on reddit, twitter and other social media. I came up with a reading list for quickly copypasting things. It may be interesting today for newbs or anyone who wants a history lesson on what exactly happened during those two years when bitcoin's very existence as a decentralized low-trust currency was questioned. Now the fight has essentially been won, I try not to comment on reddit that much anymore. There's nothing left to do except wait for Lightning and similar tech to become mature (or better yet, help code it and test it) In this thread you can learn about block sizes, latency, decentralization, segwit, ASICBOOST, lightning network and all the other issues that were debated endlessly for over two years. So when someone tries to get you to invest in bcash, remind them of the time they supported Bitcoin Unlimited :P Summary / The fundamental tradeoffA trip to the moon requires a rocket with multiple stages by gmaxwell (must read) https://www.reddit.com/r/Bitcoin/comments/438hx0/a_trip_to_the_moon_requires_a_rocket_with/ Bram Cohen, creator of bittorrent, argues against a hard fork to a larger block size https://medium.com/@bramcohen/bitcoin-s-ironic-crisis-32226a85e39f#.558vetum4 gmaxwell's summary of the debate https://bitcointalk.org/index.php?topic=1343716.msg13701818#msg13701818 Core devs please explain your vision (see luke's post which also argues that blocks are already too big) https://www.reddit.com/r/Bitcoin/comments/61yvvv/request_to_core_devs_please_explain_your_vision/ Mod of r/btc speaking against a hard fork https://www.reddit.com/r/btc/comments/57hd14/core_reaction_to_viabtc_this_week/d8scokm/ It's becoming clear to me that a lot of people don't understand how fragile bitcoin is https://www.reddit.com/r/Bitcoin/comments/59kflj/its_becoming_clear_to_me_that_a_lot_of_people/ Blockchain space must be costly, it can never be free https://www.reddit.com/r/Bitcoin/comments/4og24h/i_just_attended_the_distributed_trade_conference/ Charlie Lee with a nice analogy about the fundamental tradeoff https://medium.com/@SatoshiLite/eating-the-bitcoin-cake-fc2b4ebfb85e#.444vr8shw gmaxwell on the tradeoffs https://bitcointalk.org/index.php?topic=1520693.msg15303746#msg15303746 jratcliff on the layering https://www.reddit.com/r/btc/comments/59upyh/segwit_the_poison_pill_for_bitcoin/d9bstuw/ Scaling on-chain will destroy bitcoin's decentralizationPeter Todd: How a floating blocksize limit inevitably leads towards centralization [Feb 2013] https://bitcointalk.org/index.php?topic=144895.0 mailing list https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2013-February/002176.html with discussion on reddit in Aug 2015 https://www.reddit.com/r/Bitcoin/comments/3hnvi8/just_a_little_history_lesson_for_everyone_new_the/ Nick Szabo's blog post on what makes bitcoin so special http://unenumerated.blogspot.com/2017/02/money-blockchains-and-social-scalability.html There is academic research showing that even small (2MB) increases to the blocksize results in drastic node dropoff counts due to the non-linear increase of RAM needed. http://bravenewcoin.com/assets/Whitepapers/block-size-1.1.1.pdf Reddit summary of above link. In this table, you can see it estimates a 40% drop immediately in node count with a 2MB upgrade and a 50% over 6 months. At 4mb, it becomes 75% immediately and 80% over 6 months. At 8, it becomes 90% and 95%. https://www.reddit.com/r/Bitcoin/comments/5qw2wr/a_future_led_by_bitcoin_unlimited_is_a/dd442pw/ Larger block sizes make centralization pressures worse (mathematical) https://petertodd.org/2016/block-publication-incentives-for-miners Talk at scalingbitcoin montreal, initial blockchain synchronization puts serious constraints on any increase in the block size https://www.youtube.com/watch?v=TgjrS-BPWDQ&t=2h02m06s with transcript https://scalingbitcoin.org/transcript/montreal2015/block-synchronization-time Bitcoin's P2P Network: The Soft Underbelly of Bitcoin https://www.youtube.com/watch?v=Y6kibPzbrIc someone's notes: https://gist.github.com/romyilano/5e22394857a39889a1e5 reddit discussion https://www.reddit.com/r/Bitcoin/comments/4py5df/so_f2pool_antpool_btcc_pool_are_actually_one_pool/ In adversarial environments blockchains dont scale https://scalingbitcoin.org/transcript/hongkong2015/in-adversarial-environments-blockchains-dont-scale Why miners will not voluntarily individually produce smaller blocks https://scalingbitcoin.org/transcript/hongkong2015/why-miners-will-not-voluntarily-individually-produce-smaller-blocks Hal Finney: bitcoin's blockchain can only be a settlement layer (mostly interesting because it's hal finney and its in 2010) https://www.reddit.com/r/Bitcoin/comments/3sb5nj/most_bitcoin_transactions_will_occur_between/ petertodd's 2013 video explaining this https://www.youtube.com/watch?v=cZp7UGgBR0I luke-jr's summary https://www.reddit.com/r/Bitcoin/comments/61yvvv/request_to_core_devs_please_explain_your_vision/dficjhj/ Another jratcliff thread https://www.reddit.com/r/Bitcoin/comments/6lmpll/explaining_why_big_blocks_are_bad/ Full blocks are not a disasterBlocks must be always full, there must always be a backlog https://medium.com/@bergealex4/bitcoin-is-unstable-without-the-block-size-size-limit-70db07070a54#.kh2vi86lr Same as above, the mining gap means there must always be a backlog talk: https://www.youtube.com/watch?time_continue=2453&v=iKDC2DpzNbw transcript: https://scalingbitcoin.org/transcript/montreal2015/security-of-diminishing-block-subsidy Backlogs arent that bad https://www.reddit.com/r/Bitcoin/comments/49p011/was_the_fee_event_really_so_bad_my_mind_is/ Examples where scarce block space causes people to use precious resources more efficiently https://www.reddit.com/r/Bitcoin/comments/4kxxvj/i_just_singlehandedly_increased_bitcoin_network/ https://www.reddit.com/r/Bitcoin/comments/47d4m2/why_does_coinbase_make_2_transactions_per/ https://www.reddit.com/r/Bitcoin/comments/53wucs/why_arent_blocks_full_yet/d7x19iv Full blocks are fine https://www.reddit.com/r/Bitcoin/comments/5uld1a/misconception_full_blocks_mean_bitcoin_is_failing/ High miner fees imply a sustainable future for bitcoin https://www.reddit.com/r/BitcoinMarkets/comments/680tvf/fundamentals_friday_week_of_friday_april_28_2017/dgwmhl7/ gmaxwell on why full blocks are good https://www.reddit.com/r/Bitcoin/comments/6b57ca/full_blocks_good_or_bad/dhjxwbz/ The whole idea of the mempool being "filled" is wrong headed. The mempool doesn't "clog" or get stuck, or anything like that. https://www.reddit.com/r/Bitcoin/comments/7cusnx/to_the_people_still_doubting_that_this_congestion/dpssokf/ SegwitWhat is segwitluke-jr's longer summary https://www.reddit.com/r/Bitcoin/comments/6033h7/today_is_exactly_4_months_since_the_segwit_voting/df3tgwg/?context=1 Charlie Shrem's on upgrading to segwit https://twitter.com/CharlieShrem/status/842711238853513220 Original segwit talk at scalingbitcoin hong kong + transcript https://youtu.be/zchzn7aPQjI?t=110 https://scalingbitcoin.org/transcript/hongkong2015/segregated-witness-and-its-impact-on-scalability Segwit is not too complex https://www.reddit.com/r/btc/comments/57vjin/segwit_is_not_great/d8vos33/ Segwit does not make it possible for miners to steal coins, contrary to what some people say https://www.reddit.com/r/btc/comments/5e6bt0/concerns_with_segwit_and_anyone_can_spend/daa5jat/?context=1 https://keepingstock.net/segwit-eli5-misinformation-faq-19908ceacf23#.r8hlzaquz Segwit is required for a useful lightning network It's now known that without a malleability fix useful indefinite channels are not really possible. Clearing up SegWit Lies and Myths: https://achow101.com/2016/04/Segwit-FUD-Clearup Segwit is bigger blocks https://www.reddit.com/r/Bitcoin/comments/5pb8vs/misinformation_is_working_54_incorrectly_believe/dcpz3en/ Typical usage results in segwit allowing capacity equivalent to 2mb blocks https://www.reddit.com/r/Bitcoin/comments/69i2md/observe_for_yourself_segwit_allows_2_mb_blocks_in/ Why is segwit being blockedJihan Wu (head of largest bitcoin mining group) is blocking segwit because of perceived loss of income https://www.reddit.com/r/Bitcoin/comments/60mb9e/complete_high_quality_translation_of_jihans/ Witness discount creates aligned incentives https://segwit.org/why-a-discount-factor-of-4-why-not-2-or-8-bbcebe91721e#.h36odthq0 https://medium.com/@SegWit.co/what-is-behind-the-segwit-discount-988f29dc1edf#.sr91dg406 or because he wants his mining enterprise to have control over bitcoin https://www.reddit.com/r/Bitcoin/comments/6jdyk8/direct_report_of_jihan_wus_real_reason_for/ Segwit is being blocked because it breaks ASICBOOST, a patented optimization used by bitmain ASIC manufacturerDetails and discovery by gmaxwell https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-April/013996.html Reddit thread with discussion https://www.reddit.com/r/Bitcoin/comments/63otrp/gregory_maxwell_major_asic_manufacturer_is/ Simplified explaination by jonny1000 https://www.reddit.com/r/Bitcoin/comments/64qq5g/attempted_explanation_of_the_alleged_asicboost/ http://www.mit.edu/~jlrubin/public/pdfs/Asicboost.pdf https://medium.com/@jimmysong/examining-bitmains-claims-about-asicboost-1d61118c678d Evidence https://www.reddit.com/r/Bitcoin/comments/63yo27/some_circumstantial_evidence_supporting_the_claim/ Bitmain admits their chips have asicboost but they say they never used it on the network (haha a likely story) https://blog.bitmain.com/en/regarding-recent-allegations-smear-campaigns/ Worth $100m per year to them (also in gmaxwell's original email) https://twitter.com/petertoddbtc/status/849798529929424898 Other calculations show less https://medium.com/@vcorem/the-real-savings-from-asicboost-to-bitmaintech-ff265c2d305b This also blocks all these other cool updates, not just segwit https://www.reddit.com/r/Bitcoin/comments/63otrp/gregory_maxwell_major_asic_manufacturer_is/dfw0ej3/ Summary of bad consequences of asicboost https://www.reddit.com/r/Bitcoin/comments/64qq5g/attempted_explanation_of_the_alleged_asicboost/dg4hyqk/?context=1 Luke's summary of the entire situation https://www.reddit.com/r/Bitcoin/comments/6ego3s/why_is_killing_asicboost_not_a_priority/diagkkb/?context=1 Prices goes up because now segwit looks more likely https://twitter.com/TuurDemeester/status/849846845425799168 Asicboost discovery made the price rise https://twitter.com/TuurDemeester/status/851520094677200901 A pool was caught red handed doing asicboost, by this time it seemed fairly certain that segwit would get activated so it didnt produce as much interest as earlier https://www.reddit.com/r/Bitcoin/comments/6p7lr5/1hash_pool_has_mined_2_invalid_blocks/ and https://www.reddit.com/r/Bitcoin/comments/6p95dl/interesting_1hash_pool_mined_some_invalid_blocks/ and https://twitter.com/petertoddbtc/status/889475196322811904 This r/btc user is outraged at the entire forum because they support Bitmain and ASICBOOST https://www.reddit.com/r/btc/comments/67t43y/dragons_den_planned_smear_campaign_of_bitmain/dgtg9l2/ Antbleed, turns out Bitmain can shut down all its ASICs by remote control: http://www.antbleed.com/ What if segwit never activatesWhat if segwit never activates? https://www.reddit.com/r/Bitcoin/comments/6ab8js/transaction_fees_are_now_making_btc_like_the_banks/dhdq3id/ with https://www.reddit.com/r/Bitcoin/comments/5ksu3o/blinded_bearer_certificates/ and https://www.reddit.com/r/Bitcoin/comments/4xy0fm/scaling_quickly/ Lightningbitcoinmagazine's series on what lightning is and how it works https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-building-a-bidirectional-payment-channel-1464710791/ https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-creating-the-network-1465326903/ https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-completing-the-puzzle-and-closing-the-channel-1466178980/ The Lightning Network ELIDHDICACS (Explain Like I Don't Have Degrees in Cryptography and Computer Science) https://letstalkbitcoin.com/blog/post/the-lightning-network-elidhdicacs Ligtning will increases fees for miners, not lower them https://medium.com/lightning-resources/the-lightning-paradox-f15ce0e8e374#.erfgunumh Cost-benefit analysis of lightning from the point of view of miners https://medium.com/@rusty_lightning/miners-and-bitcoin-lightning-a133cd550310#.x42rovlg8 Routing blog post by rusty https://medium.com/@rusty_lightning/routing-dijkstra-bellman-ford-and-bfg-7715840f004 and reddit comments https://www.reddit.com/r/Bitcoin/comments/4lzkz1/rusty_russell_on_lightning_routing_routing/ Lightning protocol rfc https://github.com/lightningnetwork/lightning-rfc Blog post with screenshots of ln being used on testnet https://medium.com/@btc_coach/lightning-network-in-action-b18a035c955d video https://www.youtube.com/watch?v=mxGiMu4V7ns Video of sending and receiving ln on testnet https://twitter.com/alexbosworth/status/844030573131706368 Lightning tradeoffs http://www.coindesk.com/lightning-technical-challenges-bitcoin-scalability/ Beer sold for testnet lightning https://www.reddit.com/r/Bitcoin/comments/62uw23/lightning_network_is_working_room77_is_accepting/ and https://twitter.com/MrHodl/status/848265171269283845 Lightning will result in far fewer coins being stored on third parties because it supports instant transactions https://medium.com/@thecryptoconomy/the-barely-discussed-incredible-benefit-of-the-lightning-network-4ce82c75eb58 jgarzik argues strongly against LN, he owns a coin tracking startup https://twitter.com/petertoddbtc/status/860826532650123264 https://twitter.com/Beautyon_/status/886128801926795264 luke's great debunking / answer of some misinformation questions https://www.reddit.com/r/Bitcoin/comments/6st4eq/questions_about_lightning_network/dlfap0u/ Lightning centralization doesnt happen https://www.reddit.com/r/Bitcoin/comments/6vzau5/reminder_bitcoins_key_strength_is_in_being/dm4ou3v/?context=1 roasbeef on hubs and charging fees https://twitter.com/roasbeef/status/930209165728825344 and https://twitter.com/roasbeef/status/930210145790976000 Immutability / Being a swiss bank in your pocket / Why doing a hard fork (especially without consensus) is damagingA downside of hard forks is damaging bitcoin's immutability https://www.reddit.com/r/Bitcoin/comments/5em6vu/what_happens_if_segwit_doesnt_activate/dae1r6c/?context=3 Interesting analysis of miners incentives and how failure is possible, don't trust the miners for long term https://www.reddit.com/r/Bitcoin/comments/5gtew4/why_an_increased_block_size_increases_the_cost_of/daybazj/?context=2 waxwing on the meaning of cash and settlement https://www.reddit.com/r/Bitcoin/comments/5ei7m3/unconfirmed_transactions_60k_total_fees_14btc/dad001v/ maaku on the cash question https://www.reddit.com/r/Bitcoin/comments/5i5iq5/we_are_spoiled/db5luiv/?context=1 Digital gold funamentalists gain nothing from supporting a hard fork to larger block sizes https://www.reddit.com/r/Bitcoin/comments/5xzunq/core_please_compromise_before_we_end_up_with_bu/dem73xg/?context=1 Those asking for a compromise don't understand the underlying political forces https://www.reddit.com/r/Bitcoin/comments/6ef7wb/some_comments_on_the_bip148_uasf_from_the/dia236b/?context=3 Nobody wants a contentious hard fork actually, anti-core people got emotionally manipulated https://www.reddit.com/r/Bitcoin/comments/5sq5or/contentious_forks_vs_incremental_progress/ddip57o/ The hard work of the core developers has kept bitcoin scalable https://www.reddit.com/r/Bitcoin/comments/3hfgpo/an_initiative_to_bring_advanced_privacy_features/cu7mhw8?context=9 Recent PRs to improve bitcoin scaleability ignored by the debate https://twitter.com/jfnewbery/status/883001356168167425 gmaxwell against hard forks since 2013 https://bitcointalk.org/index.php?topic=140233.20 maaku: hard forks are really bad https://www.reddit.com/r/Bitcoin/comments/5zxjza/adam_greg_core_devs_and_big_blockers_now_is_the/df275yk/?context=2 Some metrics on what the market thinks of decentralization and hostile hard forksThe price history shows that the exchange rate drops every time a hard fork threatens: https://i.imgur.com/EVPYLR8.jpg and this example from 2017 https://twitter.com/WhalePanda/status/845562763820912642 http://imgur.com/a/DuHAn r/btc users lose money price supporting theymos' moderation https://i.imgur.com/0jZdF9h.png old version https://i.imgur.com/BFTxTJl.png older version https://pbs.twimg.com/media/CxqtUakUQAEmC0d.jpg about 50% of nodes updated to the soft fork node quite quickly https://imgur.com/O0xboVI Bitcoin Unlimited / Emergent Consensus is badly designed, changes the game theory of bitcoinBitcoin Unlimited was a proposed hard fork client, it was made with the intention to stop segwit from activating A Future Led by Bitcoin Unlimited is a Centralized Future https://blog.sia.tech/a-future-led-by-bitcoin-unlimited-is-a-centralized-future-e48ab52c817a#.p1ly6hldk Flexible transactions are bugged https://www.reddit.com/r/Bitcoin/comments/57tf5g/bitcoindev_bluematt_on_flexible_transactions/ Bugged BU software mines an invalid block, wasting 13 bitcoins or $12k https://www.reddit.com/r/Bitcoin/comments/5qwtr2/bitcoincom_loses_132btc_trying_to_fork_the/ https://www.reddit.com/r/btc/comments/5qx18i/bitcoincom_loses_132btc_trying_to_fork_the/ bitcoin.com employees are moderators of r/btc https://medium.com/@WhalePanda/the-curious-relation-between-bitcoin-com-anti-segwit-propaganda-26c877249976#.vl02566k4 miners don't control stuff like the block size http://hackingdistributed.com/2016/01/03/time-for-bitcoin-user-voice/ even gavin agreed that economic majority controls things https://www.reddit.com/r/Bitcoin/comments/5ywoi9/in_2010_gavin_predicted_that_exchanges_ie_the/ fork clients are trying to steal bitcoin's brand and network effect, theyre no different from altcoins https://medium.com/@Coinosphere/why-bitcoin-unlimited-should-be-correctly-classified-as-an-attempted-robbery-of-bitcoin-not-a-9355d075763c#.qeaynlx5m BU being active makes it easier to reverse payments, increases wasted work making the network less secure and giving an advantage to bigger miners https://www.reddit.com/r/Bitcoin/comments/5g1x84/bitcoin_unlimited_bu_median_value_of_miner_eb/ bitcoin unlimited takes power away from users and gives it to miners https://medium.com/@alpalpalp/bitcoin-unlimiteds-placebo-controls-6320cbc137d4#.q0dv15gd5 bitcoin unlimited's accepted depth https://twitter.com/tdryja/status/804770009272696832 BU's lying propaganda poster https://imgur.com/osrViDE BU is bugged, poorly-reviewed and crashesbitcoin unlimited allegedly funded by kraken stolen coins https://www.reddit.com/r/btc/comments/55ajuh/taint_analysis_on_bitcoin_stolen_from_kraken_on/ https://www.reddit.com/r/btc/comments/559miz/taint_analysis_on_btc_allegedly_stolen_from_kraken/ Other funding stuff https://www.reddit.com/r/Bitcoin/comments/5zozmn/damning_evidence_on_how_bitcoin_unlimited_pays/ A serious bug in BU https://www.reddit.com/r/Bitcoin/comments/5h70s3/bitcoin_unlimited_bu_the_developers_have_realized/ A summary of what's wrong with BU: https://www.reddit.com/r/Bitcoin/comments/5z3wg2/jihanwu_we_will_switch_the_entire_pool_to/devak98/ Bitcoin Unlimited Remote Exploit Crash 14/3/2017https://www.reddit.com/r/Bitcoin/comments/5zdkv3/bitcoin_unlimited_remote_exploit_crash/ https://www.reddit.com/r/Bitcoin/comments/5zeb76/timber/ https://www.reddit.com/r/btc/comments/5zdrru/peter_todd_bu_remote_crash_dos_wtf_bug_assert0_in/ BU devs calling it as disaster https://twitter.com/SooMartindale/status/841758265188966401 also r/btc deleted a thread about the exploit https://i.imgur.com/lVvFRqN.png Summary of incident https://www.reddit.com/r/Bitcoin/comments/5zf97j/i_was_undecided_now_im_not/ More than 20 exchanges will list BTU as an altcoin https://www.reddit.com/r/Bitcoin/comments/5zyg6g/bitcoin_exchanges_unveil_emergency_hard_fork/ Again a few days later https://www.reddit.com/r/Bitcoin/comments/60qmkt/bu_is_taking_another_shit_timberrrrrr/ User Activated Soft Fork (UASF)site for it, including list of businesses supporting it http://www.uasf.co/ luke's view threat of UASF makes the miner fall into line in litecoin UASF delivers the goods for vertcoin UASF coin is more valuable https://www.reddit.com/r/Bitcoin/comments/6cgv44/a_uasf_chain_will_be_profoundly_more_valuable/ All the links together in one place https://www.reddit.com/r/Bitcoin/comments/6dzpew/hi_its_mkwia_again_maintainer_of_uasfbitcoin_on/ p2sh was a uasf https://github.com/bitcoin/bitcoin/blob/v0.6.0/src/main.cpp#L1281-L1283 jgarzik annoyed at the strict timeline that segwit2x has to follow because of bip148 https://twitter.com/jgarzik/status/886605836902162432 Committed intolerant minority https://www.reddit.com/r/Bitcoin/comments/6d7dyt/a_plea_for_rational_intolerance_extremism_and/ alp on the game theory of the intolerant minority https://medium.com/@alpalpalp/user-activated-soft-forks-and-the-intolerant-minority-a54e57869f57 The risk of UASF is less than the cost of doing nothing https://www.reddit.com/r/Bitcoin/comments/6bof7a/were_getting_to_the_point_where_a_the_cost_of_not/ uasf delivered the goods for bitcoin, it forced antpool and others to signal (May 2016) https://bitcoinmagazine.com/articles/antpool-will-not-run-segwit-without-block-size-increase-hard-fork-1464028753/ "When asked specifically whether Antpool would run SegWit code without a hard fork increase in the block size also included in a release of Bitcoin Core, Wu responded: "No. It is acceptable that the hard fork code is not activated, but it needs to be included in a 'release' of Bitcoin Core. I have made it clear about the definition of 'release,' which is not 'public.'"" Screenshot of peter rizun capitulating https://twitter.com/chris_belcher_/status/905231603991007232 Fighting off 2x HFhttps://twitter.com/MrHodl/status/895089909723049984 b2x is most of all about firing core https://twitter.com/WhalePanda/status/912664487135760384 https://medium.com/@StopAndDecrypt/thats-not-bitcoin-this-is-bitcoin-95f05a6fd6c2 Misinformation / sockpuppetsthree year old account, only started posting today https://archive.is/3STjH Why we should not hard fork after the UASF worked: https://www.reddit.com/r/Bitcoin/comments/6sl1qf/heres_why_we_should_not_hard_fork_in_a_few_months/ HistoryGood article that covers virtually all the important history https://bitcoinmagazine.com/articles/long-road-segwit-how-bitcoins-biggest-protocol-upgrade-became-reality/ Interesting post with some history pre-2015 https://btcmanager.com/the-long-history-of-the-fight-over-scaling-bitcoin/ The core scalabality roadmap + my summary from 3/2017 https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-December/011865.html my summary https://www.reddit.com/r/Bitcoin/comments/5xa5fa/the_core_development_scalability_roadmap/ History from summer 2015 https://www.reddit.com/r/Bitcoin/comments/5xg7f8/the_origins_of_the_blocksize_debate/ Brief reminders of the ETC situation https://www.reddit.com/r/Bitcoin/comments/6nvlgo/simple_breakdown_of_bip91_its_simply_the_miners/dkcycrz/ Longer writeup of ethereum's TheDAO bailout fraud https://www.reddit.com/r/ethereumfraud/comments/6bgvqv/faq_what_exactly_is_the_fraud_in_ethereum/ Point that the bigblocker side is only blocking segwit as a hostage https://www.reddit.com/r/BitcoinMarkets/comments/5sqhcq/daily_discussion_wednesday_february_08_2017/ddi3ctv/?context=3 jonny1000's recall of the history of r/bitcoin https://www.reddit.com/r/Bitcoin/comments/6s34gg/rbtc_spreading_misinformation_in_rbitcoinmarkets/dl9wkfx/ Misc (mostly memes)libbitcoin's Understanding Bitcoin series (another must read) https://github.com/libbitcoin/libbitcoin/wiki/Understanding-Bitcoin github commit where satoshi added the block size limit https://www.reddit.com/r/Bitcoin/comments/63859l/github_commit_where_satoshi_added_the_block_size/ hard fork proposals from some core devs https://bitcoinhardforkresearch.github.io/ blockstream hasnt taken over the entire bitcoin core project https://www.reddit.com/r/Bitcoin/comments/622bjp/bitcoin_core_blockstream/ blockstream is one of the good guys https://www.reddit.com/r/Bitcoin/comments/6cttkh/its_happening_blockstream_opens_liquid_sidechain/dhxu4er/ Forkers, we're not raising a single byte! Song lyrics by belcher https://gist.github.com/chris-belcher/7264cd6750a86f8b4a9a Some stuff here along with that cool photoshopped poster https://medium.com/@jimmysong/bitcoin-realism-or-how-i-learned-to-stop-worrying-and-love-1mb-blocks-c191c35e74cb Nice graphic https://twitter.com/RNR_0/status/871070843698380800 gmaxwell saying how he is probably responsible for the most privacy tech in bitcoin, while mike hearn screwed up privacy https://www.reddit.com/r/btc/comments/6azyme/hey_bu_wheres_your_testnet/dhiq3xo/?context=6 Fairly cool propaganda poster https://twitter.com/urbanarson/status/880476631583924225 btc tankman https://i.redd.it/gxjqenzpr27z.png https://twitter.com/DanDarkPill/status/853653168151986177 asicboost discovery meme https://twitter.com/allenscottoshi/status/849888189124947971 https://twitter.com/urbanarson/status/882020516521013250 gavin wanted to kill the bitcoin chain https://twitter.com/allenscottoshi/status/849888189124947971 stuff that r/btc believes https://www.reddit.com/r/Bitcoin/comments/6ld4a5/serious_is_the_rbtc_and_the_bu_crowd_a_joke_how/djszsqu/ after segwit2x NYA got agreed all the fee pressure disappeared, laurenmt found they were artificial spam https://twitter.com/i/moments/885827802775396352 theymos saying why victory isnt inevitable https://www.reddit.com/r/Bitcoin/comments/6lmpll/explaining_why_big_blocks_are_bad/djvxv2o/ with ignorant enemies like these its no wonder we won https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-999 ""So, once segwit2x activates, from that moment on it will require a coordinated fork to avoid the up coming "baked in" HF. "" a positive effect of bcash, it made blockchain utxo spammers move away from bitcoin https://www.reddit.com/r/btc/comments/76lv0b/cryptograffitiinfo_now_accepts_bitcoin_cash/dof38gw/ summary of craig wright, jihan wu and roger ver's positions https://medium.com/@HjalmarPeters/the-big-blockers-bead6027deb2 Why is bitcoin so strong against attack?!?! (because we're motivated and awesome) https://www.reddit.com/r/btc/comments/64wo1h/bitcoin_unlimited_is_being_blocked_by_antivirus/dg5n00x/ what happened to #oldjeffgarzik https://www.reddit.com/r/Bitcoin/comments/6ufv5x/a_reminder_of_some_of_jeff_garziks_greatest/ big blockers fully deserve to lose every last bitcoin they ever had and more https://www.reddit.com/r/BitcoinMarkets/comments/756nxf/daily_discussion_monday_october_09_2017/do5ihqi/ gavinandresen brainstorming how to kill bitcoin with a 51% in a nasty way https://twitter.com/btcdrak/status/843914877542567937 Roger Ver as bitcoin Judas https://imgur.com/a/Rf1Pi A bunch of tweets and memes celebrating UASF https://twitter.com/shaolinfry/status/842457019286188032 | https://twitter.com/SatoshiLite/status/888335092560441345 | https://twitter.com/btcArtGallery/status/887485162925285377 | https://twitter.com/Beautyon_/status/888109901611802624 | https://twitter.com/Excellion/status/889211512966873088 | https://twitter.com/lopp/status/888200452197801984 | https://twitter.com/AlpacaSW/status/886988980524396544 | https://twitter.com/BashCo_/status/877253729531162624 | https://twitter.com/tdryja/status/865212300361379840 | https://twitter.com/Excellion/status/871179040157179904 | https://twitter.com/TraceMayer/status/849856343074902016 | https://twitter.com/TraceMayer/status/841855022640033792 | https://fs.bitcoinmagazine.com/img/images/Screen_Shot_2017-08-18_at_01.36.47.original.png [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| My local strip club won't take bitcoin :( Posted: 27 Dec 2017 04:37 PM PST
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| Posted: 27 Dec 2017 05:55 PM PST
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| 27/Dec/2017 /r/Bitcoin reaches 600,000 subscribers Posted: 27 Dec 2017 06:32 AM PST
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| Just checked into a hostel in Taipei and saw this sign. Posted: 28 Dec 2017 12:36 AM PST
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| I think he's gonna be okay in the end. �� Posted: 27 Dec 2017 12:02 PM PST
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| Some people forward planning amazes me. Posted: 27 Dec 2017 08:16 PM PST
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| Basic income experiment receives $5 million worth of bitcoin Posted: 27 Dec 2017 09:49 PM PST
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| Don't repeat my mistakes. I had everything, now i am broke Posted: 28 Dec 2017 02:10 AM PST After reading all these bitcoin success stories around here, i decided to share my story of failure, in order to protect people from the mistakes i made. I have no intend to ask for a help, but a bit of moral support will be very helpful. I am very ashamed of my ignorance, it's hard to admit it, but i will try. I was into bitcoin for about a 2 years. All that time i was buying btc and hodling, never sold a single satoshi, waiting for times when i could spend it without converting into fiat. I was lunatik about how cryptocurrency will make a world a better place (and i am still is), this ideology changed my life. My family and friends, which mostly are people from my christian community, never supported these interests. We were always arguing about gambling component and how our religion is against it. And about bank system, etc. I wont brag you how much i had btc, but for me and my family it was a very big money. And i did couple major mistakes. Frankly, i think i did EVERYTHING wrong and it ruinded my life.
So, first of all, i was so blinded with bitcoin success, that i was maniacally looking for a money everytime the price was dropping. Especially last half a year, if i had no money, i started borrowing as much, as i could return in 2018, "after some saving". It was very obviously for me that price will be higher and i will easily return the debt... But that's not a main problem. You remember how i was obsessed with crypto? So i began to attract all relatives, friends and coworkers in cryptocurrency investing. Well, my boss was interested, but not as much to deal with "registration and stuff". And he gave me some money, so i could buy coins for him. At first, ammounts was so small, i didnt bother to make a separate wallet for him. And all the time i was thinking that soon it will be done. But as price was growing, boss became more interested and start to invest more and more money, never bothering to make himself a wallet. And i didnt thought much about it aswell. That was a big mistake. And finally, the main reason i am telling this story. I think you already know what happened. I lost my wallet. I had only 2 copies of my wallet, "cold storage" as i thought. One on usb stick, and one on my old laptop, that i was using only for cryptocurrencies. I was stupid enough to keep both copies in one place, but this is not that fact that have destroyed me. My obsession pushed me to check my wallet all the time, not only looking online in the blockchaine, i had to check it by logging into wallet on my "cold laptop", and sometimes to check if usb-stick are working properly. Yep, i am idiot, and deserve to suffer, i know. One time i was stupid enough, to check both laptop and stick, after that i was distracted by a phone call and i forgot about everything. Went to a bedroom, got sleep and went to the job at the morning. when i returned from work, i found out that i had been robbed, they took both laptops (one new and that "old one" with a usb-stick in it) and some minor other things. Some time has passed, the police said they will take care of my laptops as soon as they catch all the murderers and stuff... Frankly, that's normal for my country i did not expect more. Wallets were encrypted with a password, no movement in my addresses. To be honest i doubt that the robbers understood what they had stolen. Btw, seed have been saved in txt file... On the same laptop and usb-stick. Now i am broke, boss fired me, threatens me and has already contacted all possible employers in our town. I owe money to everyone i know. And the worst thing, that i have no support from my family and friends... They just saying things like "we told you!". I am depressed and completely confused in my believes, my loved ones and everything else. Today i am going to an interview for some job. I will try my best to get things done. But you have no idea how it is tough to knowing you have lose everything. So please, don't make such mistakes. Secure your wallet, make some copies, don't keep all the copies in one place, and PLEASE NEVER BORROW money to buy crypto! Sorry for my english and God bless you! [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| As it is not stated in the Newcomers Thread: YOU DON'T HAVE TO BUY A FULL BITCOIN! Posted: 27 Dec 2017 05:31 PM PST The FAQ says that you can buy any amount of bitcoin but fails to mention that this means that you can buy parts of a bitcoin as well. There are too many people that think that they have to buy a full bitcoin and are turned away by this. Please make sure you remind newcomers of this fact. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Some good news for you guys in all this chaos :) Posted: 27 Dec 2017 10:21 PM PST
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| Posted: 27 Dec 2017 08:13 AM PST Unlike the bank (or anything we've previously known), with the Lightning Network the other party can't decide not to give you the money they owe you. A blockchain confirmation will always set the record straight. Unlike the bank, the Lightning Network involves zero trust in the other party to give you your funds. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| How a lot of people behave with Bitcoin �� Posted: 27 Dec 2017 01:41 PM PST
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| Coinbase Announces 2018 SegWit Support As Third 'Engineering Priority' Posted: 27 Dec 2017 09:37 AM PST
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| Posted: 27 Dec 2017 03:06 PM PST
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| Posted: 27 Dec 2017 11:57 PM PST Seems like a useful metaphor for getting across to noobs how much impact it will have. Using on chain txs has become like wire transfers at your bank - costly, but soon you can have free-checking that is global and instant and most important since it's still Bitcoin, it's non-custodial, non-censorable money. I can't wait for this to mature enough for real world use. This is really not the time to give up on on Bitcoin, though I know it seems like things aren't working atm. [link] [comments]  | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Seth Meyers -- Bitcoin Commercial: What Is It and How Does It Work? Posted: 27 Dec 2017 05:07 PM PST
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