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    Bitcoin Daily Discussion, October 07, 2018

    October 07, 2018

    Bitcoin Daily Discussion, October 07, 2018

    Daily Discussion, October 07, 2018

    Posted: 07 Oct 2018 02:01 AM PDT

    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.

    We have a couple chat rooms now. Come say hello.

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
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    Brisbane airport. More 3 vendors all accepting :)

    Posted: 06 Oct 2018 07:16 PM PDT

    Found a Bitcoin ATM in Surfers Paradise, Australia

    Posted: 07 Oct 2018 01:42 AM PDT

    What is happening at Bitstamp right now? -13% in one second and a minute later +15% and still on the rise

    Posted: 06 Oct 2018 06:33 PM PDT

    bitcoin halving: only 19 months to go ... we are in the green zone!

    Posted: 06 Oct 2018 07:25 AM PDT

    I made simpliest possible Bitcoin exchange

    Posted: 06 Oct 2018 07:36 PM PDT

    https://www.youtube.com/watch?v=1OUxyZreiqE

    ​

    Currently it's in alpha testing stage and is using the Testnet coins.

    The bot works with Telegram Payment and can accept credit cards via Yandex.Kassa, Sberbank, Stripe, Paymentwall and other providers (see https://core.telegram.org/bots/payments for full list).

    You can create such an exchange for yourself in 2 minutes! Set your own commission fee (fixed and/or %%) and sell you BTC for profit.

    submitted by /u/lilosergey
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    If I livestreamed the setup and execution of doing a 51% attack against the testnet for the sake of education would anyone watch?

    Posted: 06 Oct 2018 07:32 PM PDT

    Edit: Doing it. Next week going to attack the coin Einsteinium, Oct 13 3:00 CDT, 4:00 EDT 1:00 PST

    Event:https://www.twitch.tv/events/NyJSsF3hQkGHdnsKA2f4JQ

    Channel: https://www.twitch.tv/geocold/

    Edit: I think I'll do it in like a week against a small coin like Einsteinium or the like. I might also set it up so if you donate a dollar to the stream you can send me some text that I'll throw into my forked chains overriding transaction and give that money to the EFF (and pay for the minimal cost of renting hashing power). Stay tuned.

    I'm considering doing a live stream of all the setup and execution of doing a 51% attack against against the bitcoin testnet so that people can see how it works in real life, not in theory. I'd also discuss how the attack works and every concept encountered along the way. I'd also talk about the security implications and how some coins go about preventing such attacks, the pros and cons of such tactics, etc.

    Edit: Could also just attack a small cap coin. That would let me get into some interesting game theory from an attackers perspective about what coins they want to attack, what exchanges, in what order, and what would deter them. Which is equally interesting. One thing people don't often mention is the importance of the depth of a given coins trading books because with many coins there is so little liquidity that an attacker could only sell a few thousand dollars worth of the coin before crashing its price and making subsequent cycles of the attack hard.

    Second edit: I realize I mistitled this and just said "the testnet" I was originally referring to the bitcoin testnet.

    submitted by /u/team-periwinkle
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    Whats going on at Bitstamp? BTC at 6600€ (7600$)?

    Posted: 06 Oct 2018 06:46 PM PDT

    So BTC / EUR just tanked to 5200 € (6000$) just to instantly skyrocket to 6600 € (7600$).

    ​

    At the moment it seems like nothing is happening anymore. My orders are "in queue".

    Anyone know anything about this?

    submitted by /u/schneemann_gaming
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    What sets apart a good exchange from a scammy one?

    Posted: 07 Oct 2018 01:44 AM PDT

    Just like all commodities, we need good platforms to trade our crypto assets like Bitcoin and other coins. Sometimes, prices go up within a second and you find yourself stuck when trying to trade your assets due to complications within some exchanges.

    As an investor, I evaluate exchanges based on their protocol and what they're accomplishing with their platform.

    - Are they user-friendly?

    - Can I get help whenever needed?

    - Are they secure enough?

    - Do they have a solid team?

    Here are some of the exchanges I trade at:

    Bittrex: It's one of the safest exchanges in my opinion. But because I am on mobile, the user experience is not so solid. it'is a US-based exchange headquartered in Seattle, Washington. It's been around since 2013 It was funded by 2 ex Microsoft employees.

    ​

    Gate io: I used to trade on Gate, but recently, they canned Canadians so, that's out.Not much is available about the team. What I liked about Gate is that it is secure, mobile friendly and intuitive. The thing is Gate was named by SEC, in the list of crypto exchanges under investigation. Along wth Binance. This raises big alarms.

    ​

    Binance: I don't think much is to be said about Binance. In addition to the excellent user experience, mobile friendlines, high liquity, technically sound team, one thing Binance has that I have not seen with other exchanges is their community. If you have been on telegram, you know what I mean. I also like that they are planninhg to go decentralized soon. Rumor has it that plans for beta testing of the DEX is coming in 2019.

    ​

    KubitX: This one is a new exchange that I have come across, it is an up and coming exchange growing out of Africa. They are serious contanders for the fastest exchange. Their exchange will be able to proces over 12,000,000 trades per second, which should make it the fastest exchange out there,

    ​

    What sets them part is how they are going about acquiring their user base. They are going on the ground WIth their Global channel ambassador (GCA) program, they have a locally based rep in every country in Africa, and each GCA works with channel ambassadors to bring awareness about blockchain technology even to remote locations. They are going after Africa because it is under served when it comes to cryptocurrency and blockchain technology. Their CAs and GCAs are holding meetings and discussing cryptocurrencies and blockchain in their native tongues. They seem to be really pushing the barrier of what it means to do drive adopton and financial integration. I think it has the opportunity to be a top exchange if they can pull it off.

    ​

    Sorta like what Binance was to China during the crypto crackdown of 2017.

    If you remember, Binance was basically the only exchange that didn't get shut down at the time and this helped them become the giant that they are today.

    ​

    I see many parallels between Binance and Kubitx in that sense. Africa is looking like it's going to be the next giant to enter the blockchain space. Kubitx's strategy of working with locally situated representatives to promote blockchain education and user adoption could be key to help them hold a monopoly in the African market.

    ​

    They did a private sale recently and today they have announced that their beta is ready for testing. They are looking for testers. You can read more about that in the link below, if you want to check them about.

    ​

    https://medium.com/@kubitx/public-registration-for-beta-testing-is-live-regiter-now-3b20935b67fd

    ​

    I know this is my opinion only, I would like to know, what about you guys?

    ​

    What do you look for before deciding if an exchange is not scammy?

    submitted by /u/badalray
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    If the USD continues to expand at its current decade-long pace there will be more US cents than Satoshis within the next ten years.

    Posted: 06 Oct 2018 03:23 PM PDT

    Currently there are about $0.008 of US M2 money stock per Sat (~$14,000,000,000,000 / 1,700,000,000,000,000 Sats)

    If the US M2 stock continues to expand at around 6%/yr like it has for the past decade we should achieve 1 US cent per Sat within the next ten years, with my current estimate falling just before the halvening-after-next that occurs in 2025/2026.

    Current monetary inflation rates for each are USD ~6% / Sats ~4%.

    Here is a chart of US M2 money stock growth since 1980, provided by the Federal Reserve Bank of St. Louis.

    https://fred.stlouisfed.org/series/M2

    submitted by /u/gta3uzi
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    BITTREX Removing BTC Knockoffs

    Posted: 06 Oct 2018 08:20 AM PDT

    By 2032 about 99% of BTC will be in circulation

    Posted: 06 Oct 2018 05:17 AM PDT

    Jihan Wu the "big block dude" ..... :P

    Posted: 06 Oct 2018 04:13 PM PDT

    Peter Todd: Hardware Wallet Threats and Vulnerabilities (video)

    Posted: 06 Oct 2018 02:20 PM PDT

    Bitcoin had a fair initial distribution unlike most of other coins in the market

    Posted: 06 Oct 2018 07:02 AM PDT

    Can the bitcoin lightning network be used to create a decentralized messaging system?

    Posted: 06 Oct 2018 03:53 PM PDT

    What are your thoughts? I feel that if you can open a channel with someone to exchange money (a money protocol), you can open a different channel to exchange messages (a message protocol).

    submitted by /u/mickhick95
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    In a few hours the McAfee Prediction Line will be above the All Time High

    Posted: 06 Oct 2018 01:27 PM PDT

    The Post-Fiat World Begins: Venezuela's Cryptocurrency A Necessity To Obtain A Passport

    Posted: 06 Oct 2018 02:32 PM PDT

    How can I set up a billboard with free BTC that pays out every 24h a few dollars of btc to the first to scan the private key?

    Posted: 06 Oct 2018 12:57 PM PDT

    Found These Today

    Posted: 06 Oct 2018 12:48 PM PDT

    Asch Conformity Experiment - AKA - The reason people follow obvious scams and obvious scammers like Roger and BCash...

    Posted: 06 Oct 2018 07:54 PM PDT

    Full speech by Malta ���� Prime Minister during the opening of the @Delta_Summit

    Posted: 07 Oct 2018 02:07 AM PDT

    What will quantum computing do to Bitcoin?

    Posted: 06 Oct 2018 03:32 PM PDT

    I'm aware that SHA-1 has been broken using classical computing. The Bitcoin framework uses SHA-256 for encryption. What happens in a few years when they get a 40-qubit quantum computer workable and SHA-256 can be cracked? What does this mean for Bitcoin?

    submitted by /u/readthisresistor
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    NIST: Blockchain Technology Overview

    Posted: 06 Oct 2018 08:08 PM PDT
    Read more
    at

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