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    BTC CEO of Twitter Jack Dorsey makes a $2.5 million investment in the Lightning Network, just a few weeks before stealing the @bitcoin Twitter handle

    April 09, 2018

    BTC CEO of Twitter Jack Dorsey makes a $2.5 million investment in the Lightning Network, just a few weeks before stealing the @bitcoin Twitter handle

    CEO of Twitter Jack Dorsey makes a $2.5 million investment in the Lightning Network, just a few weeks before stealing the @bitcoin Twitter handle

    Posted: 08 Apr 2018 11:02 AM PDT

    PSA: I have been down the SM rabbit hole for weeks now, this is my advice for newcomers.

    Posted: 08 Apr 2018 09:03 PM PDT

    I've decided to make this post mainly for people who are confused about the SM mining debate, especially newcomers. Putting SM into focus can take a lot of time, especially if you are the type of person that doesn't trust but verifies. And since participating in SM discussions often amounts to sticking your head above the parapet in the battle of Gallipoli, where this happened, I think some pointers would be useful if you don't have time to research this on your own.

    All views on this topic are polarised at different degrees towards one of these camps:

    Camp 1 The entire thing starts with Ittay Eyal and Emin Gün Sirer bitcoin mining is vulnerable paper. I have read the paper, and gone through every single equation myself (yes, it never made sense to me otherwise because it is counterintuitive). The take home message is, Selfish Mining on paper works. Anyone who says otherwise has not read the paper (I was guilty of this crime) or is using a model different from the one on paper

    There are no mistakes in the equations in the paper, nor the model used. Amaury, Vitalik, Peter all the experts here will confirm it. I have come to the conclusion that this paper has pissed off a lot of bitcoin maximalists as it seems to be perceived by some as an attack on bitcoin. This is why Emin is a controversial figure, and he probably has gone through a lot of attacks/trolling in the past because of this when all he did was identify an issue. This is unfair against him in my opinion and contributions like this should be welcome, not discouraged since they make us stronger.

    Here is a quick overview of the model in Emin and Ittay Eyal's paper:

    1) bitcoin (selfish) mining can be analysed as a Markov chain with transition states (each state reflect the lead of the selfish miner who hides blocks over honest miners);

    2) state transition frequencies are fixes, and based on the hashpower of the selfish miner and rest of the pool;

    3) from here he uses probabilistic equations and models applying to Markov chains to find out the relative revenue of the selfish miner. The selfish miner earns more than his fair value for hashpowers over 33%.

    Camp 2 There is the second camp, led by CSW who dismisses selfish mining as a real world possibility and has gone so far as to call it the cancer of bitcoin. The main reasons why SM is unlikely in practice are:

    1. the price of the coin would probably be affected, so no miner has an incentive to be selfish or their revenue would collapse;
    2. In the SM paper possible reactions of HM are not considered. Since it is extremely easy for other miners to see when a pool is mining selfishly, it is very likely that in real world honest miners will take measures against selfish miners;

    If you are debating (with yourself) whether bitcoin is vulnerable or not, I think these points and the fact that SM has never happened are strong points against SM as a real world scenario.

    Most of the SM debates I have seen on reddit, as of today, follow these patterns:

    1) Camp 2 trying to discredit the maths in Camp 1's reference paper. This is wrong imo, the model is rock solid as of today.

    2) Camp 1 trying to attack Camp 2 for being non scientific. I think this is also unfair since there are people in Camp 2 who acknowledge that SM is viable only on paper but support Camp 2 because they consider it very unlikely in practice (for good reasons).

    3) Trolls of Camp 1 attacking trolls of Camp 2 and vice versa. These debates are personal, superficial and irrelevant. An early warning signal that the discussion is getting toxic and is time to quit is when they start referring to each other with the names of the respective figureheads ("Craig", "Emin").

    Conclusion: I think both camps are artificially polarised and could come to terms by making an effort to understand each other. Camp 1's math and reference model is correct. In the future, if someone proves that bitcoin mining is not a markov machine then that could change. But as of now the model stands. On the other hand, Camp 2's approach of not considering SM a real world threat is also correct. In fact, there has never been a case of SM in bitcoin's decade long history.

    I think both camps can agree that while SM is possible on paper, it is safe, at least for now, to not consider it as a real world scenario.

    Things I personally learned thanks to this community while debating SM:

    1) the basics selfish mining

    2) the importance of DAA

    3) Chain reorg

    4) Markov chains, transition states, transition frequencies

    5) the entire math behind SM

    6) the importance of reading the actual paper

    7) why SM cannot be a real life scenario (understanding the bitcoin economy, miners are profit seeking entities, it is against their interest to engage in unsustainable operations, possible countermeasure from HM such as hidden block leaks, blacklisting SM etc).

    I have been wrong a lot of times, but I learned a lot of things so I don't regret a bit of my discussions.

    Conclusion: Let's move on. Bitcoin cash is bitcoin.

    submitted by /u/geekmonk
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    Authentic r/BTC'ers - Be aware that Troll accounts are filling our threads with anti-BCH rhetoric and hundreds of self-upvotes. Make sure you look for them and Vote your opinion as well.

    Posted: 08 Apr 2018 05:37 PM PDT

    There is an obvious concerted effort by whomever is leading these people, to fill our threads with long-winded anti-BCH posts and hundreds of upvotes.

    They take advantage of the fact that our Moderators aren't corrupt fucks like theirs are, and grant them the freedom to speak.

    But you have the right to express your opinion of their unethical behavior by voting as well. So do it.

    It isn't easy dealing with unethical people who have no "rules" on how to play fair. We have our hands tied by mass-bannings, and an unwillingness to be shitty human beings in general.

    They don't. Their mothers would be proud.

    But we can vote just as much as they can.

    submitted by /u/BitttBurger
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    Andreas Antonopoulos: If @Bitcoin twitter account has been stolen, it should be returned to its rightful owner.

    Posted: 08 Apr 2018 07:56 PM PDT

    Satoshi's Vision Conference talks have over 50,000 views on YouTube!

    Posted: 08 Apr 2018 10:43 PM PDT

    The transition is slowly happening

    Posted: 08 Apr 2018 11:16 PM PDT

    I know it may not seem like much, but many sites, including gdax are putting up (btc) and (bch) next to their respective currencies. The real flippening happens once the minds of many adopts the true bitcoin split (cash/core). It happened for me just a couple hours ago, I now see that bitcoin truly is anti-fragile, and will continue to evolve, even if both of its forks are fighting at the moment

    submitted by /u/adangert
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    I wanted to make a BCH as I’ve already made a much larger Core. It’s amusing to watch it get downvotes so rapidly in other subs.

    Posted: 08 Apr 2018 04:35 PM PDT

    A little demo of sending BCH (via CoinText) from one phone to a Bitcoin.com wallet on another phone and then to a Yours.org account... all within seconds! The power/speed of Peer-to-Peer Elect Cash!

    Posted: 08 Apr 2018 11:06 AM PDT

    Bitcoin and The Road to Serfdom

    Posted: 08 Apr 2018 11:56 PM PDT

    In what has been a long time coming, we are happy to finally release our long form piece: "Bitcoin and The Road to Serfdom". This piece examines economic planning with respect to Bitcoin and how the BTC network was co-opted under the mask of this planning.

    The paper cites Frederich Hayek's groundbreaking work and explores what challenges Bitcoin Cash will face so as to keep the system economically in tact.

    You can read the essay on our website for free

    You can also catch it on Yours

    Thanks for reading it and let us know what you think!

    submitted by /u/The_BCH_Boys
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    Bitfinex and Tether loses their PR firm (Torossian’s 5W)

    Posted: 08 Apr 2018 11:29 PM PDT

    A rising tide lifts all boats... (a little reminder during stormy seas). 6 of #100DaysofSatoshiDoodles

    Posted: 08 Apr 2018 11:55 AM PDT

    The @Bitcoin account has been suspended (again) by @TwitterSupport only because Core trolls constantly submit fake reports about it. @Jack why do you guys keep letting this happen? Instead of suspending all the fake scammer accounts you suspend the real ones. WTF.

    Posted: 08 Apr 2018 05:38 AM PDT

    Bitcoin To Tumble To $900. “A P2P electronic cash system is exactly what it’s supposed to be but it’s transmogrified into a speculative, frenzied way to get to other cryptos.” - Bloomberg Intelligence

    Posted: 08 Apr 2018 05:21 PM PDT

    Rick Falkvinge: Good cryptographers are not enough to build an economic ecosystem; if you don't understand the domain you're coding for, your contribution will always be a net negative.

    Posted: 08 Apr 2018 08:01 AM PDT

    I just submitted a pull request to support Bitcoin Cash in bitcoin_payable gem. Easy integration of Bitcoin Cash for your Ruby on Rails application.

    Posted: 08 Apr 2018 03:13 PM PDT

    Twitter just nuked the @bitcoin account. Any idea why ?

    Posted: 08 Apr 2018 11:06 AM PDT

    A pledge to help increase the rate of adoption

    Posted: 08 Apr 2018 03:12 PM PDT

    In light of recent people-drama distractions this week designed to slow down the adoption rate of Bitcoin Cash globally (shouting at international conferences/suspending of @bitcoin/posting several low-effort-troll-posts daily/claiming fraud/etc... keeping us supporters busy/distracted). I have decided to propose and take a short pledge to help further increase the rate of adoption and hope you will join me.

    I hereby proclaim that for every 1 brainless-drama-filled-distraction I'm tempted to respond to as a comment reply on reddit (or elsewhere) thrust upon the Bitcoin /r/btc community (the one that supports Bitcoin Cash as stated in the front-page FAQ) — I pledge to work on 2 other things that support hastening Bitcoin Cash Global Adoption, either by introducing new people to Bitcoin, educating others, starting or continuing adoption projects or sharing information about the developer ecosystem, etc.

    Will you take the pledge with me?

    submitted by /u/justgetamoveon
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    According to reddit, we may have enough evidence to justify a reddit ban of the entire /r/bitcoin community from reddit. Inciting violence is prohibited. Reddit states banning /r/bitcoin is an enforcement option. Let's close this subreddit for theymos' approved threat to use violence.

    Posted: 08 Apr 2018 10:11 AM PDT

    @Bitcoin twitter account is back online, but all of the followers are gone, and the tweets are protected.

    Posted: 08 Apr 2018 06:05 AM PDT

    Social Media Needs PoW

    Posted: 09 Apr 2018 12:37 AM PDT

    Thinking recently about the social media abuse of Twitter's report function to shut down @Bitcoin, I had a thought:

    A major problem with any really big social media platform like Twitter, Reddit, Youtube, Facebook, etc. is that any report function intended to curate material and curtail abuse can itself be quite easily abused by bots, brigading, etc.

    The amount of manpower to e.g. manually review all abuse reports would be crazy, because reporting is costless.

    One reason Facebook, Youtube, Twitter et al originally shot to the top was because they were free to use. But the fact that the reporting function is free to use hurts the user experience for everyone.

    I think social media platforms should start requiring a small payment, ideally payable in crytpo, for each use of a report function. Not enough to stop anyone with a legitimate grievance, but enough to cause trolls and bot users to think twice.

    And while I think the cost to file a grievance should be maybe marginally higher, it's also interesting to imagine a Reddit in which, e.g. each up or down vote costs a few Satoshis.

    submitted by /u/onyomi
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    To show Bitcoin is a currency, I list prices in my store in Bitcoin Cash and not Dollars or BTC. I sell street art in Paris and work with some of the biggest international street artists. Merchants, why not start listing prices in BCH.

    Posted: 08 Apr 2018 01:48 PM PDT

    Why do Bitcoin Cash miners reject replacement transactions ?

    Posted: 08 Apr 2018 09:23 PM PDT

    If someone sends two conflicting transactions that both spend the same coins but to different outputs, and one has a much higher miner fee than the other, why would a rational miner not just always accept the one with the higher fee? Will other miners really orphan a block if it contains a conflicting transaction with one they have in their mempool? And if so, on what grounds ?

    submitted by /u/RudiMcflanagan
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    r/BTC has now more subscribers than r/Litecoin! Keep up the good work !

    Posted: 08 Apr 2018 03:44 AM PDT

    Bitcoin Cash Barbershop Commercial

    Posted: 08 Apr 2018 01:24 PM PDT
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