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    Bitcoin Daily Discussion, December 30, 2017

    December 30, 2017

    Bitcoin Daily Discussion, December 30, 2017

    Daily Discussion, December 30, 2017

    Posted: 30 Dec 2017 02:00 AM PST

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    submitted by /u/rBitcoinMod
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    GDAX has now kept over $10,000 worth of my BTC hostage from me for a MONTH.

    Posted: 29 Dec 2017 08:34 PM PST

    Reddit please upvote for visibility. The BTC that I deposited into GDAX on 11/30 has still yet to be credited to my account (tx has over 4000 confirmations). This is after having no issues with gdax for years.

    After calling, emailing, and receiving only template responses at best from Coinbase, I'm at a loss for what to do.

    If you're considering trading, please for your own sake check out alternatives. I'm not saying Coinbase is a fraud, I'm just saying they're spread too thin in case you actually do need to get in touch with their staff. I've personally moved all btc to fiat and fiat to btc to Gemini.

    edit: case ID 2652513 relevant blockcypher of btc tx

    edit2: WE DID IT!! Finally received a real response from support, and got my btc credited. Definitely not a coincidence, guys. Thank you all for the upvotes/help!

    submitted by /u/doebro
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    Lightning is an open protocol, not a product. Core is an open process, not a company. Corporations and centralization are faster, marketed better, more polished, and can be more efficient. Open systems and decentralized solutions will still win; if we fight for them.

    Posted: 29 Dec 2017 09:51 PM PST

    I gave my daughter 5 BTC in 2011. This is what she spent 0.6 BTC on.

    Posted: 29 Dec 2017 11:38 PM PST

    Found him ��

    Posted: 29 Dec 2017 01:15 PM PST

    Finally joined the Cold Side

    Posted: 29 Dec 2017 04:03 AM PST

    Simulating a Decentralized Lightning Network with 500,000 payments, 0.01% fee per hub and 10 Million Users: 100% success (99.9986%)

    Posted: 29 Dec 2017 11:06 AM PST

    I repeated Diane Reynolds' simulation, as described here, using her program. The only change I made was that instead of having "11 different fee policies evenly distributed among users", each node simply asks for 0.01% fee (= value x 0.0001) to route a transaction. Some of the 11 fee policies were quite complicated, like "trying to make channels more balanced".

    Here are the main results:

    Payments attempted: 500,000

    Fee as a percentage of the payment 0.175

    Routing failed: 7

    Routing failed for bigpayments: 3

    Routing failed for midsizedpayments: 1

    Routing failed for micropayments: 3

    Average lengths of routes: 17.5

    So the payment failed for only 0.0014% of the payments. Note that for the last 100,000 payments, routing failed only once (1 midsizedpayment) and from 100,000 to 500,000 only 3 times (1 big, 1 midsize, 1 micro). The average total fee for a payment makes sense, as 0.01% x 17.5 hubs = 0.175% total fee. I didn't realize the program stopped after 500,000 payments and will now try to run it for more payments.

    submitted by /u/sumBTC
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    My girlfriend got me the best Bitcoin mascot ever for Christmas. Scrooge McDuck: OG HODLer.

    Posted: 29 Dec 2017 02:57 PM PST

    Schnorr Signatures Might Be Bitcoin'€™s Next Step Forward - Bitcoinist.com

    Posted: 29 Dec 2017 11:14 PM PST

    BCrash developer wants to "euthanize Core" while he uses their code... hmmm

    Posted: 29 Dec 2017 06:40 PM PST

    Price Drop, don’t PANIC! Follow these steps

    Posted: 29 Dec 2017 05:55 AM PST

    Coinbase Account ALMOST Compromised this morning. Use 2-Factor Authorization!

    Posted: 29 Dec 2017 11:25 AM PST

    “I think that the Internet is going to be one of the major forces for reducing the role of government.” -Milton Friedman

    Posted: 29 Dec 2017 01:19 PM PST

    GDAX: Invalid account: unsupported currency(???)

    Posted: 29 Dec 2017 05:35 PM PST

    I was recently verified now I'm trying to deposit coinbase funds into the gdax exchange. I keep getting this error when I try to transfer funds from coinbase to gdax what am I doing wrong? Does it have to be in BTC to transfer? Sorry for being a noob.

    Edit: wow, fuck coinbase.

    submitted by /u/kaciukus
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    Japan Approves New Bitcoin Exchange as Adoption Grows and Peers Expand Overseas

    Posted: 29 Dec 2017 05:24 PM PST

    The same old story, I experimented with mining Bitcoin back in 2012. Completely forgot I ever did until today. I don't mean to brag, but my heart was racing once I finally logged in.

    Posted: 29 Dec 2017 07:25 PM PST

    Looks the same 5k to 3k, 20k to 12k?

    Posted: 30 Dec 2017 03:07 AM PST

    Whenever someone misspells ''Bitcoin''

    Posted: 29 Dec 2017 04:38 PM PST

    Ministry of Finance in India says Virtual Currencies are like ponzi schemes. LOL they're feeling the burn already

    Posted: 29 Dec 2017 10:54 PM PST

    Today i helped someone from Nigeria create a bitcoin wallet

    Posted: 30 Dec 2017 12:18 AM PST

    Was a strange day today. Got a random fb message request by some hot blonde girl. Clearly a scammer. The scammer was asking for money to buy a new phone. Usual story. So I told her I know she's a scammer and from Africa.

    Then i asked, have you heard about cryptocurrency or bitcoin. She said no. So I told her what it was. I said i can help them learn what it is if they tell me who they are. Sure enough it's a man from Nigeria.

    I'm not one to judge others. I know that place is hard to live day to day. The man is literally just trying to feed himself and his family. You gotta do whay you gotta do and this man hustles on facebook.

    He even sent me pics of him walking down a dirt road in the slums. That dudes got it rough. I can't complain about my life compared to his.

    I sent him a bunch of videos to watch about bitcoin. He watched them and wanted to know how he can get some. So we started talking more and I helped him setup a bitcoin wallet on his phone.

    It was all a little over his head but he is fascinated by all this. I sent him links to Worldcoinindex to show him bitcoin is one of many crypto currencies.

    I know this man is a scammer but if I was in his situation I would be also. You cant judge a man until you walked in thier shoes. Life is tough in these countries.

    I'm going to send this man a small amount of bitcoin. Something small to me but could change this man's life. You could say the scammer has scammed me but i like to think i have shown him the light to a world he never new existed.

    Note: I should also say im not send him the bitcoin directly. I'm putting it in a bitcoin 'savings' account he won't be able to use for a while.

    submitted by /u/CryptoHODLer101
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    Found this on my local craigslist. Hilarious and awesome !

    Posted: 29 Dec 2017 09:04 PM PST

    Debunking the 11 Most Stubborn Lightning Network Myths

    Posted: 29 Dec 2017 04:34 PM PST

    What did Satoshi see as the scaling solution for bitcoin? Is anything being done?

    Posted: 30 Dec 2017 12:25 AM PST

    Did Satoshi foresee that the network would start choking under its own volume and that transaction fees and speeds would become such a problem? Did he propose a solution? And (real question) what is really being done to solve this? Are all the eggs in the lightning network basket? The only post from Core I can find is from 2015. Are any of the developers talking about a realistic and prompt solution to solve the scaling problem? Thanks in advance.

    submitted by /u/ReluctantPawn
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    My oracle dog has spoken

    Posted: 29 Dec 2017 09:29 PM PST

    He arfed 18times when i spoke "bitcoin on january 1, 2018" to him. Bitcoin at $18,000 on january 1, 2018 confirmed. He's always on point, swift and sharp. He's the oracle dog

    submitted by /u/goldenbzzz
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    Showerthought: Spam Attacks/High Fees which "hurt" bitcoin actually incentivize Lightning Network progress

    Posted: 29 Dec 2017 11:40 AM PST

    Analogy: high fuel prices incentivize auto/EV innovation, rather than kill auto

    submitted by /u/ceeemeee
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    Kidnapped crypto executive released after paying ransom of US$1 million in Bitcoin

    Posted: 29 Dec 2017 01:12 PM PST
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