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    Home Unlabelled BTC Coinbase has open sourced a utility to convert between base58 and CashAddr BCH addresses. Now every company can easily support Cash Address!

    BTC Coinbase has open sourced a utility to convert between base58 and CashAddr BCH addresses. Now every company can easily support Cash Address!

    6 years ago

    BTC Coinbase has open sourced a utility to convert between base58 and CashAddr BCH addresses. Now every company can easily support Cash Address!

    Coinbase has open sourced a utility to convert between base58 and CashAddr BCH addresses. Now every company can easily support Cash Address!

    Posted: 08 Aug 2019 02:44 PM PDT

    TX Highway is back!

    Posted: 08 Aug 2019 04:45 PM PDT

    So I had a bunch of messages and saw a post here saying that https://txhighway.com/ was not working (thanks for letting me know). It's fixed now, turns out there was an issue with websockets. While I was at it I updated some things, here's the changelog. There's no amazing new features but I thought I'd keep you all up to speed. Thanks again for all the support

    ​

    • Websockets working for bch
    • Remove sv shill related things
    • Add spice token monitoring
    • Add badger button for donations
    • Update to green BCH logo
    • Update bitcoin.com logo
    submitted by /u/porlybe
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    What is Bitcoin? Why does it have value? What's the point of all this anyway?

    Posted: 08 Aug 2019 10:53 PM PDT

    Bitcoin: a Peer-to-peer Electronic Cash System

    Abstract.

    A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution. Digital signatures provide part of the solution, but the main benefits are lost if a trusted third party is still required to prevent double-spending. We propose a solution to the double-spending problem using a peer-to-peer network. The network timestamps transactions by hashing them into an ongoing chain of hash-based proof-of-work, forming a record that cannot be changed without redoing the proof-of-work. The longest chain not only serves as proof of the sequence of events witnessed, but proof that it came from the largest pool of CPU power. As long as a majority of CPU power is controlled by nodes that are not cooperating to attack the network, they'll generate the longest chain and outpace attackers. The network itself requires minimal structure. Messages are broadcast on a best effort basis, and nodes can leave and rejoin the network at will, accepting the longest proof-of-work chain as proof of what happened while they were gone.

    1. Introduction

    Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, it still suffers from the inherent weaknesses of the trust based model. Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non- reversible services. With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need. A certain percentage of fraud is accepted as unavoidable. These costs and payment uncertainties can be avoided in person by using physical currency, but no mechanism exists to make payments over a communications channel without a trusted party.

    What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party. Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers. In this paper, we propose a solution to the double-spending problem using a peer-to-peer distributed timestamp server to generate computational proof of the chronological order of transactions. The system is secure as long as honest nodes collectively control more CPU power than any cooperating group of attacker nodes.

    edit: in case it isn't self evident

    the cashlike use case - two willing parties transacting directly with one another in hard currency - is the disruptive use case because it completely cuts out the existing financial system

    In contrast, "storing value" - where you go to an exchange and convert dollars into Bitcoins that you later sell back for more dollars - is completely non disruptive to anything. It changes nothing and threatens nobody because it leaves everyone still completely dependent on the existing financial system.

    Real Bitcoin - the disruptive Bitcoin with the potential to change the world - is the one that enables the cashlike use case where any two willing parties can transact directly with one another with no intermediary.

    submitted by /u/jessquit
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    Ask and I receive. New and improved txhighway.com with spice added.

    Posted: 08 Aug 2019 05:30 PM PDT

    Fee is too high. Please use a different coin. Thanks Blockstream

    Posted: 08 Aug 2019 06:51 AM PDT

    Bitcoin Cash is lightning fast! ⚡

    Posted: 08 Aug 2019 12:37 PM PDT

    In 2012 and 2013, when I purchased Bitcoin with part of my every monthly salary, people were laughing. Similar people are laughing now, because I sold all my BTC and went all-in BCH. But I will be the one laughing last, the same as I was the one laughing last then.

    Posted: 08 Aug 2019 06:23 AM PDT

    Never doubt that a small group of thoughtful, committed citizens can change the world; indeed, it's the only thing that ever has.

    ~ Margaret Mead

    submitted by /u/ShadowOfHarbringer
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    gave a full bitcoin (cash) to my cousin for his wedding

    Posted: 08 Aug 2019 03:57 PM PDT

    So I was invited this past week to my cousin's wedding. I gave him a paper wallet with a full bitcoin cash on it as a gift. He seems to be pretty receptive to it and asked me to come over this coming week to help him practice "using it". I'll be going over how to send/receive and also get him set up with an exchange (i'm thinking coinbase/pro).

    ​

    Anyone think this was a bad idea? lol

    submitted by /u/thebitcoinmogul
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    Developers Reveal Sandbox Video Game Powered by Bitcoin Cash

    Posted: 08 Aug 2019 01:44 PM PDT

    Cool! Grow adoption + get rewarded for using BCH

    Posted: 08 Aug 2019 01:44 PM PDT

    Facebook got a patent on shadow-banning in online forums - will it affect reddit and /r/bitcoin?

    Posted: 09 Aug 2019 01:17 AM PDT

    After August 15 Kraken will use Cashaddr format for deposit addresses

    Posted: 08 Aug 2019 08:05 AM PDT

    In an email I received from Kraken:

    Why are BCH deposit addresses being expired?

    After August 15, we are switching to the Cashaddr format, which is the most widely used BCH format.

    submitted by /u/playfulexistence
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    Does anyone know where I can sell game keys for BCH?

    Posted: 08 Aug 2019 08:13 PM PDT

    Interesting Stats about SLP Tokens on explorer.bitcoin.com/bch/tokens/charts

    Posted: 08 Aug 2019 12:43 PM PDT

    Google changes your search query to manipulate trending events.

    Posted: 08 Aug 2019 05:58 PM PDT

    Bitcoin Cash on Bloomberg is having a good day

    Posted: 08 Aug 2019 08:14 AM PDT

    Throwback Thursday: March 2018 Lil Windex released the Bitcoin Cash song which now has 1.3 million views on YouTube with a special message to BTC (@ 2:45)

    Posted: 08 Aug 2019 11:40 AM PDT

    In 10 hours I'll be LIVE w/ Roger Ver, talking about... well, not too sure, but it wont be your conventional interview!

    Posted: 08 Aug 2019 08:02 AM PDT

    Could "Liquid Maintenance" Along With Tether Be Used To Manipulate Markets

    Posted: 08 Aug 2019 01:52 PM PDT

    Cool new TX visualizer for BCH and BTC

    Posted: 08 Aug 2019 10:37 AM PDT

    Blockstream breaks the hearts of Core maximalists ����

    Posted: 08 Aug 2019 07:37 AM PDT

    Bitcoin Fees: BCH $0.00 / BTC $2.29

    Posted: 08 Aug 2019 10:48 AM PDT

    Blockstream Reveals Massive Bitcoin Mining Facilities, Fidelity An Early Customer

    Posted: 08 Aug 2019 01:07 PM PDT

    FIGHTING FUD: Bitmain's IPO to the US raising more than $1 billion

    Posted: 08 Aug 2019 06:31 AM PDT

    Bitmain's IPO to the US is coming soon, raising more than $1 billion: core financial data exposure

    Key Points:

    • $725m Losses in January / February 2019
    • $315m Profits in March 2019
    • April expected to reach 30% Gross Profit Margin
    • Bitmain sales for Q3/Q4 predicted to be strong
    • Bitmain has good good debt ratio.
    • Bitmain valued at $13 billion dollars to $15 billion dollars
    • Bitmain were clearing old stock early in the year.
    • It is expected that the fourth quarter will usher in an outbreak

    Chinese Article HERE.

    In June of this year, Bloomberg broke the news that Bitmain has started IPO matters in the United States, and will submit a prospectus application by the end of July at the erliest. Today, in July, there are still no public offering documents on Bitmain.

    But another mining machine manufacturer, Jia Nan Zhizhi, has secretly submitted a listing application to the US Securities and Exchange Commission (details: Jia Nan, the world's second-largest bitcoin mining machine manufacturer, has secretly submitted a listing application to the SEC).

    However, Uncle C recently got the latest financial information from Bitmain, and may share some of the core data with you.

    On September 26, 2018, Bitmain submitted a prospectus application document to the Hong Kong Stock Exchange. The document shows that the two founders, Jank Group and Wu Jihan, are major shareholders, holding 36% and 20% respectively.

    Since its inception, Bitmain has mainly obtained three rounds of financing, which took place in August 2017, June 2018 and August 2018. Among them, Bitmain completed more than $700 million in financing in the second half of 2018.

    At the time of the release of the prospectus, the proportion of shares held by major investment institutions was small: Sequoia Capital held approximately 3.14%, Innovation Works held approximately 1.13%, Temasek held 0.35%, IDG Capital and Beijing IC Industry The International Fund holds 0.02% and 0.07% of the shares respectively.

    Valuation of Bitmain to $13 billion -$15 billion US dollars

    The above-mentioned investors gave the information that Bitmain tried to raise $1 billion to $1.5 billion in the estimated IPO of $13 billion to $15 billion .

    If the valuation is true, it will increase slightly from the valuation of around US$12 billion in the second half of 2018, and will be much higher than the "only" 500 given by the Hurun Greater China Unicorn Index in January this year. The valuation of 100 million yuan, although Bitmain ranked 11th in this list.

    It is clear that the financial data of Bitmain is re-optimized. Uncle C also got the financial statements of Q1 Bitmain in China this year.

    March profit of $315 million

    In the first quarter of 2019, Bitmain's total operating income was US$1.082 billion, of which revenues for the first three months were 253 million, 253 million and 579 million , respectively ; gross margins were 7.91 million, 14.7 million and 25.21 million respectively. The US dollar; net profit reached $315 million in March alone, and $345 million and $280 million in losses in January and February, respectively.

    From the perspective of net profit and gross profit, the data is obviously not so satisfactory. To this end, Bitcoin's internal view is that in the first quarter, mainly in clearing inventory, especially at low prices, 16nm mining machine inventory, resulting in lower gross profit margin; after the completion of the old product clearance, sales of 7nm mining machine new products Will lead to an increase in gross profit margin, and the gross profit margin in April is expected to reach 30%.

    It is expected that the fourth quarter will usher in an outbreak

    In addition, given that the mining machine belongs to futures products and has placed 200 million 7nm chips in TSMC, Bitmain expects earnings to achieve explosive growth in Q4.

    For the new 7nm mining machine, Bitmain's internal view said that the concept of the 7nm mining machine was proposed in 2018 and is currently done in China and Japan; Bitmain is the only 7nm mine with mass production and delivery capabilities. Machine manufacturers.

    Here, Uncle C feels that it is advisable to make an intuitive comparison with the prospectus. According to the prospectus, the revenue, gross profit and after-tax profit of Bitcoin in 2017 were 274 million, 134 million and 83 million US dollars respectively; while the full year 2017 revenue, gross profit and after-tax profit were 2.518 billion, 12.13 respectively. Billion and $701 million. From this data, the main source of contribution to the annual income is obviously dependent on the performance in the second half .

    Therefore, Bitmain's sales forecast for the whole year is that Q3's cash flow will be stronger due to the customer's prepaid mining machine, but because of the small inventory, TSMC needs 3 to 4 months to produce, so Q4 will be the main issue. The time node for goods and revenue recognition.

    In addition to the 7nm mining machine mentioned above, the AI ​​product line is also the direction of development of Bitcoin this year.

    Uncle C has already mentioned it in the article in June this year (related links: the news that Bitcoin applied for listing in the US next month, previously announced by the Hong Kong Stock Exchange "death penalty"), Bitmain began to enter at the end of 2015 In the AI ​​field, R&D content includes AI chips, boards, servers, and various hardware and software products and customer development platforms. The main directions of the layout are security, campus, smart city, and Internet.

    At present, Bitmain has launched three products equipped with the cloud chip BM1684. In the first quarter of this year, it has reached cooperation with China Unicom and China Mobile Hangzhou R&D Center . The revenue of Q1 is nearly 32 million yuan.

    Bitmain has hundreds of millions of dollars worth of digital currency assets

    In terms of balance sheet, C Uncle also got the data at the end of March and the end of May. As of the end of May, Bitmain's total assets were approximately $1 billion, and the company's debt ratio after excluding preferred shares was 16%.

    In addition, Uncle C also received reflections and judgments on the IPO process within the Bitmain. Among them, the failure of Hong Kong's IPO, Bitmain China believes that the main reason is that the rapid decline in the currency price in a short period of time has led regulators to doubt the sustainability of their business.

    It is worth mentioning that Bitmain has now decided that it has no choice but to enter the US.

    Uncle C's point of view is that although Bitcoin currently has a market share of more than 70% in the digital currency mining machine market and has sufficient cash flow, the date of its official delivery must not wait too long .

    After all, the only viable listings of the three miners are currently in the United States. Once Jianan Zhizhi and even Yibang International are leading the listing progress, the order of time in the same competition will follow the listing process and market performance. Has a non-negligible influence.

    The ability of chip design is goal to enter the AI ​​field. Rapid financing to sufficient funds will also help Bitmain further develop its layout in the chip and AI fields. Bitmain even stated in the documents given to investors that its ultimate goal is to become a technology-based commercial company.

    submitted by /u/kilrcola
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    Liquid Unavailable for Up To 12 Hours

    Posted: 08 Aug 2019 02:45 AM PDT
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