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    BTC The BTC mass adoption intelligence paradox

    September 15, 2018

    BTC The BTC mass adoption intelligence paradox

    The BTC mass adoption intelligence paradox

    Posted: 14 Sep 2018 08:38 PM PDT

    I love this video of Jimmy Song complaining there is to many people in the audience that like Bitcoin Cash.

    Posted: 14 Sep 2018 04:51 PM PDT

    2018 Bitcoiner thinks regulations, bank-custody and USD stablecoins warrant the "Best Week in Crypto"

    Posted: 14 Sep 2018 10:28 PM PDT

    'It’s becoming more and more clear where the innovation is happening. Things like @money_button @handcashapp and @CoinText are a game changers. It’s amazing people haven’t realized it yet. Must be what it felt like to use the internet before the masses found out. #BCH #BitcoinCash'

    Posted: 14 Sep 2018 11:04 PM PDT

    7 Reasons Why North Queensland Merchants Only Accept Bitcoin Cash BCH

    Posted: 15 Sep 2018 12:06 AM PDT

    Many merchants in North Queensland are choosing to accept only Bitcoin Cash. North Queensland is also seeing the appearance of Bitcoin Cash only ATMs. As these merchants are well informed and well organized, why are they choosing to concentrate on Bitcoin Cash BCH for their electronic commerce needs? Here are a few points that I have garnered to help explain their approach:

    1. Bitcoin Cash is designed from the Genesis block to be a peer-to-peer electronic cash system and thus excels at electronic commerce. By simply choosing to only support BCH, the merchants are not giving up any real capability.
    2. The merchant's customer-payment-experience is greatly influenced by the ease & speed of the exchange. As Bitcoin Cash has a fast 0-conf payment capability, merchants jeopardize this speed advantage when supporting other cryptos.
    3. Given the large numbers of cryptos and typically their low usage frequency, the merchant is not gaining a proportional benefit for the added cost, complexity and training needed for their support.
    4. It is logical that visitors to North Queensland convert their BTC, LTC etc., to BCH once rather than incumber every point-of-sale system with an extra step and complication of choosing a crypto with each payment.
    5. There are excellent online services readily available to the tourist to convert their BTC, LTC etc., to BCH for use during their visit to North Queensland.
    6. Concentrating on just Bitcoin Cash BCH allows the North Queensland merchant groups to eliminate a large amount of customer confusion and more easily provide technical support for their merchant members.
    7. Concentrating on just Bitcoin Cash BCH greatly increases the efficiency of any promotion and even the promotion of North Queensland itself as a Bitcoin Cash friendly tourist destination.

    The proof of the approach is open for the world to see. North Queensland has the highest per capita bricks-and-mortar merchant adoption in the world.

    ​

    submitted by /u/where-is-satoshi
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    A few concerns with the security of using a Ledger hardware wallet: Proprietary secret closed-sourced firmware requires too much trust in multiple third parties.

    Posted: 14 Sep 2018 09:29 PM PDT

    I have a few concerns about the Ledger hardware wallets and am hoping to generate some discussion about these, being that a huge percentage of the Bitcoin community relies on these devices to store their coins. I think this is extremely important and should be addressed and fleshed out thoroughly, once and for all.

    1) The Ledger company admits that part of their device is not open source (proprietary firmware) and that the code of the closed-sourced tech cannot be published due to non-disclosure agreements with the manufacturing company protecting the proprietary and secret technology. Huge security flaw. Seems like they could publish the code if they wanted and simply scramble the proprietary info. But even if they did, the hardware itself would still need to be audited.

    2) To my knowledge, there has never been an independent audit performed on the Ledger's code or hardware by a third party. Is anyone aware of such an audit?

    3) The Ledger CTO has said that using their device inherently requires the user to place some degree of trust in the Ledger team. So, not only does a user need to trust the Ledger team, but a user must trust the unnamed manufacturer of Ledger's closed-sourced chip, and trust that it is not compromised during the manufacturing stage, via a backdoor or covert transmitting mechanism, etc. Being that it is closed-sourced, it's also impossible for security professionals to verify with certainty whether there is an unintentional security flaw in the code.

    4) It is impossible to be sure that the private keys and seed words generated by the Ledger are actually 100% randomized. Meaning, the Ledger team could have a database of pre-generated keys and seeds that the wallet pulls from. Ledger does allow you to generate your own seeds or important your own, which is great, but it's impossible to verify that your seeds or private keys are not being transmitted to a third party via the proprietary hardware.

    As I said, being that so many people use Ledger's products, I think this is an extremely important issue that should be discussed thoroughly, from a technical aspect.

    Should we really be placing trust in Ledger and its unnamed manufacturer (which is likely a Chinese company), being that they are using propriety closed-soured hardware and code to allegedly protect our coins? If so, why? Explain the pros/cons of trusting the Ledger team and another anonymous company.

    To me, it seems that using a completely open-sourced wallet such as Electrum or Mycelium, which have been thoroughly vetted and independently tested and are completely trustless (aside from trusting the general consensus of the community that has vetted the code), would be more secure than using a Ledger.

    What are your thoughts?

    submitted by /u/Untranslatable_Nergy
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    nChain is looking for a new CEO

    Posted: 14 Sep 2018 09:00 PM PDT

    OP_DSV will enable us to create decentralized systems such as handcash handles and universal identity, prediction markets, loans, etc. on chain in the most efficient way possible

    Posted: 15 Sep 2018 12:59 AM PDT

    There are round about ways to do anything without new op codes, but why wouldn't we want to make innovation as cheap and easy as possible?

    I can build accounting software with redstone in Minecraft but no one's buying it over turbo tax. On chain scaling and innovation gives BCH the tools to compete in the global market.

    submitted by /u/fahpcsbjiravhiaqryzh
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    AMA with Amaury Séchet, lead dev of Bitcoin ABC • r/GoldandBlack • Starting Now!

    Posted: 14 Sep 2018 09:43 AM PDT

    Stores no longer accepting Bitcoin

    Posted: 14 Sep 2018 02:52 PM PDT

    I have to say I'm a little surprised to see the number of businesses that have stopped accepting Bitcoin altogether. Many stores that were some of the first to take Bitcoin have just quietly removed it. I'm going down a list of places I have bought from in the past, and the number that still accept Bitcoin and still support it is quite small.

    ​

    This really makes no sense to me, considering that if they had kept even a small percentage of the Bitcoin they accepted over the years, it would have been obviously worthwhile.

    ​

    Is there a good explanation, other than the fee disaster created by Core last year and the general mess created by the hardfork(s)? I feel like this is not sufficient. Does anyone know of any public statements from large websites that have discontinued accepting cryptocurrencies as to their reasoning?

    submitted by /u/benjamindees
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    One of the Largest Helicopter Outfits in North Queensland Begins Accepting Bitcoin Cash - Growing Their Business With BCH!

    Posted: 14 Sep 2018 03:19 AM PDT

    An average joe's questions regarding the Bitcion ABC v. nChain debate

    Posted: 14 Sep 2018 03:18 PM PDT

    So I'm going to keep this short and simple. I know that there are more points of contention than the ones I'm about to list, but my understanding is that the main issues are ABC wants CTOR and keep the blocks at 32MB and nChain wants no CTOR and raise block size to 128MB.

    ​

    nChain's philosophy is that we need to massively scale now, that better hardware can handle the bigger blocks, and that CTOR isn't tested and therefore may be destructive.

    ​

    ABC's philosophy is that we don't need 128MB now since we barely use the 32MB we have, and that better hardware alone isn't enough to handle bigger blocks. Therefore we need to implement things like CTOR to improve latency, as in improve the propagation time of massive blocks.

    ​

    I'm not sure if I'm just proving I know nothing about how Bitcoin works, but that's my basic understanding. For now I have a sense that with 128MB blocks, it would take too long for every node to download and validate a block that big without improving the software to allow for things like parallelization. The few articles I've read by nChain seem to focus on storage hardware and how storage is getting cheaper and cheaper so increasing block size isn't an issue. But have they addressed how block size impacts propagation?

    submitted by /u/BCHcain
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    The Case for Adding CTOR To Bitcoin Cash in November

    Posted: 14 Sep 2018 01:21 PM PDT

    Steve Jobs pretty much says it outright: "You gotta start with the customer experience and work your way back to the tech, not the other way around."

    Posted: 14 Sep 2018 04:06 AM PDT

    Tim Draper Predicts Total Crypto Market Cap of $80 Trillion in Next 15 Years

    Posted: 14 Sep 2018 07:40 PM PDT

    Over 23 Million People will be able to Buy Bitcoin in 2019 via Crypto-friendly Overstock Website

    Posted: 14 Sep 2018 10:18 AM PDT

    Ask Mozilla to accept BCH

    Posted: 14 Sep 2018 09:51 AM PDT

    I went to try donating to Mozilla with btc today and found that they no longer accept it. I've emailed them asking to support BCH donations and you should too!

    https://donate.mozilla.org/en-US/give-bitcoin/?utm_source=Wiki_WaysToGive&test=no-img

    submitted by /u/Andymal
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    "Because of such a global and universal need for sound money, Bitcoin Cash will be simply adopted... The need for real money will overpower the desire for governments and central banks to control the money supply. The world’s populations will demand it."

    Posted: 14 Sep 2018 09:08 AM PDT

    Delusional YouTuber Jimmy Song saying "nobody uses dapps" is an example of why Bitcoin got bamboozled by Ethereum in market share

    Posted: 14 Sep 2018 09:48 PM PDT

    Lightning Network is not even the best available micro-payment solution on top of being mostly unnecessary. For sub-penny transactions probabilistic payments offers much greater utility. Below we outline how such a system would work. Freedom Project App 3 of 26.

    Posted: 14 Sep 2018 07:09 AM PDT

    Freedom Project - Application 3 of 26

    Whitepaper: https://4html.net/ViewerPDF/#/source/Free.pdf

    ​

    Probabilistic Payments

    Probabilistic payments are similar to how Bitcoin mining rewards are distributed. In mining, transactions are settled every 10 minutes in winner take all fashion, instead of settling every hash. In the long run miners are compensated equally on a per hash basis. The same concept can be applied to micropayments. Alice wants to pay Bob 0.001 Big Macs. Alice cannot pay Bob as the network transaction fee is 0.002 Big Macs. Alice and Bob instead agree upon a game of chance. Alice will pay Bob one Big Mac, if Bob can correctly guess Alice's chosen number from 1-1000. 999/1000 times the transaction does not occur, however, 1/1000 times Bob receives 1 Big Mac. The expected value ends up equaling 0.001 Big Macs for the payment. This structure comes with the tradeoff of volatility, however, Alice and Bob benefit from increased privacy in that most transactions settle off chain.

    A rudimentary protocol is described and linked here r/https://en.bitcoin.it/wiki/Nanopayments

    Pooling Micropayments

    For micro transactions, volatility will not be a concern, for larger transactions an additional layer can be built on top of probabilistic payments. Like miners, Alice and Bob can join pools to hedge volatility. Alice or Bob can optionally open a payment channel with a third party and broadcast all their probabilistic payments to the pool. In this event Alice could pay the exact amount to the third party in their payment channel, and Bob could receive the exact amount from his respective third party in his payment channel. This comes with the tradeoff of reduced privacy to the related pool operators and the need to pre-fund payment channels. There are three advantages to this system:

    1. Alice and Bob are still compatible if one uses payment channels and the other does not.

    2. All pool nodes are indirectly connected through the laws of statistics. This eliminates both the routing problem and network effect problems as seen in Lightning Network.

    3. Pools can easily operate at any scale, limiting centralization.

    submitted by /u/guyfawkesfp
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    Bitcoin Car Talk 20: Featuring Charlie Lee

    Posted: 15 Sep 2018 01:28 AM PDT

    Making Bitcoin Cash predictable

    Posted: 14 Sep 2018 09:11 AM PDT

    Kain_niaK interviews Roger Ver, 29 may 2018

    Posted: 14 Sep 2018 11:06 AM PDT

    Any tipper bots for YouTube?

    Posted: 14 Sep 2018 11:08 PM PDT

    Back in the ChangeTip days, we could send bitcoin tips to YouTube creators in their YouTube comments. I'd really love to do that very same thing today with Bitcoin Cash! Is there any way to do this now?

    (Even better would be for Google to adopt the money button on YouTube.)

    submitted by /u/scotty321
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    If you spent time in a censored sub (like r\bitcoin for example) but you noticed the weirdness and now you're here, expect a sort of awakening.

    Posted: 14 Sep 2018 04:28 AM PDT

    It's wise to expect that the censorship may have led you astray on those other subs.

    This sub hasn't been censored, we've had the debates and the discussions that weren't possible in those other subs, and they have resulted in some firm ideals:

    • Peer to peer cash for the world is the goal.
    • Market adoption is key.
    • User interface matters!
    • On chain scaling works.
    • Prematurely committing to one particular layer 2 network is a disaster.

    Thanks for coming to our sub! r/BTC values the contributions of all well meaning participants. Upvotes and downvotes don't really mean much. We hope you will let us present the alternative case. We all want the best bitcoin.

    submitted by /u/CryptoshiStackamoto
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