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    BTC This sub in a nutshell

    December 05, 2019

    BTC This sub in a nutshell

    This sub in a nutshell

    Posted: 04 Dec 2019 07:30 PM PST

    Not sure how addresses work? Here's an analogy.

    Posted: 04 Dec 2019 09:11 PM PST

    I find myself explaining how addresses and transactions work fairly often (and also just how Bitcoin in general works). Over time, I've come up with a few analogies that I think work fairly well.

    It's not often we send physical letters in the mail these days, but for the most part we all understand how it works. If you understand how the US postal service works, then you already kind of know how Bitcoin works.

    Bitcoin addresses are analogous to your home address. If I give you my address then you can send me a letter. However, in the Bitcoin world, we primarily only ever send envelopes filled with stamps (Satoshis). We still have to put stamps on our envelope (Fees). If we put a lot of stamps inside our envelope, then sometimes we have to put a lot of stamps on the outside envelope as postage or else the mailman won't accept our letter. ...unless he's a family friend or something (Miner).

    At home, we can have a lot of letters (Transactions), and anyone can send us a letter if they have our address. I can even create a letter, address it to someone, and then wait a few days before I give it to the mailman. Again, if I don't put some stamps on that letter, the mailman won't take it. On the other hand, I can also put far too many stamps on the envelope than necessary. The mailman will still take that one though.

    When someone sends me an envelope full of stamps, I don't have to send all of those stamps at once. I can mix and match stamps that were sent to me from multiple envelopes. I can also send an envelope with a bunch of stamps back to myself, however, I still lose the stamp I put on the envelope.

    I can have multiple mailing addresses just like I can have multiple bitcoin addresses. Sometimes I might even have two addresses that map to the same house! ...but that's complicated. (Compressed Public Key)

    If someone sends me a letter full of stamps to my PO box, I can take the stamps out of that letter and combine them with the stamps someone sent me at my home address, and I can wrap both sets of stamps in a single envelope and send them to someone else. I can also choose to only send a few of them, and send the remainder back to my PO box.

    How memo works is also similar to the postal analogy. Instead of just sending stamps, I can also send notes. The notes aren't worth anything, but the person I send it to can read it--but they can't use my note as postage for their own letter. I can put a note and a bunch of stamps in the same envelope though, and then they can send me a note back with the stamps I provided them.

    SLP tokens are also very similar. Instead of sending a note, I can send you a bunch of dollars. I can't tape a dollar to the outside of the envelope instead of putting a stamp on there--the mailman won't accept that (yet... (Vin 😉))--but if the recipient takes the dollar to someone else, they might be able to find someone else to give them some stamps in exchange for one of the dollars. Unfortunately, because of how envelopes work, I cannot send both a note and a dollar in the same envelope. (OP_RETURN)

    Anyway, hopefully this analogy is useful to you as information, or perhaps it can be useful to help explain Bitcoin to a friend. If you're new to cryptocurrencies, then please ask questions! This whole blockchain world is new and complicated; there's absolutely no shame in not knowing or misunderstanding how it works.

    submitted by /u/FerriestaPatronum
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    The Fed's Money Creation System Is Fueling One of the Biggest Heists in History

    Posted: 04 Dec 2019 03:40 PM PST

    WTH is Cardona doing?

    Posted: 04 Dec 2019 05:17 PM PST

    Meanwhile in Bangkok

    Posted: 04 Dec 2019 06:43 AM PST

    Bitcoin vs Bitcoin Cash: Who is Winning the War of Cryptos?

    Posted: 04 Dec 2019 07:29 PM PST

    "I would like to call upon Blockstream/core BTC to relinquish the Bitcoin brand and rebrand to something more fitting of their project's vision."

    Posted: 04 Dec 2019 02:31 PM PST

    " .. The whitepaper is clearly defining Bitcoin as a peer-to-peer electronic cash system and blockstream/core's continued use of the Bitcoin brand is causing confusion and damage to Bitcoin Cash."

    by u/where-is-satoshi

    submitted by /u/btc_ideas
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    Poll results are in: 53% (2,296 votes) have declared that Bitcoin Core (BTC) has been compromised. Reminder: Kenneth Bosak followers on Twitter are majority fans of BTC.

    Posted: 04 Dec 2019 08:11 AM PST

    Organizer’s Guide: Organizer’s Job During A Meetup

    Posted: 05 Dec 2019 01:44 AM PST

    Onecoin Websites Suspended as the $4 Billion Ponzi Crumbles

    Posted: 04 Dec 2019 05:32 PM PST

    Silk Road Case: The Real, Untold Story

    Posted: 04 Dec 2019 11:01 AM PST

    Honest.Cash displays now how much a post has been tipped. BCH ecosystem is improving at a fast pace.

    Posted: 04 Dec 2019 05:32 PM PST

    Bitcoin Cash Development Video Meeting #17 is on December 5

    Posted: 04 Dec 2019 09:54 AM PST

    The next Bitcoin Cash development video meeting is on December 5th, 2019 at 15:00 UTC.

    To join the meeting use Zoom.us: https://zoom.us/j/781389587

    https://www.thefutureofbitcoin.cash/development-meetings

    submitted by /u/artful-compose
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    Live call w/ Roger Ver at Los Angeles Bitcoin Cash meetup this Friday

    Posted: 04 Dec 2019 12:10 PM PST

    I added a coffee shop today on bitcoin.com wallet in the shop map. how long those it take to appear?

    Posted: 04 Dec 2019 02:10 PM PST

    Somebody at read.cash is offering lots of interesting .cash domains - check it out if you need one

    Posted: 04 Dec 2019 12:19 PM PST

    Virgin Islands Ready to Issue Cryptocurrency, SoftBank Hybrid Card, Binance Acquires DappReview

    Posted: 04 Dec 2019 01:04 PM PST

    Bakkt’s CEO Appointed to US Senate Seat Against Trump’s Wishes

    Posted: 04 Dec 2019 12:00 PM PST

    Court Upholds Nordea Bank's Ban on Employee Bitcoin Purchases

    Posted: 04 Dec 2019 02:46 PM PST

    Why has Bitcoin fallen so short of its promises?

    Posted: 04 Dec 2019 08:39 AM PST

    I was looking at web archives, and Bitcoin Talk forums, and when I looked at the discussion on these forums, apparently Satoshi Nakamoto claimed that Bitcoin is actually very much capable of surpassing VISA's transactions per second cap, with hardware back in 2010. Not to mention, in the old wiki, it stated that Bitcoin very easily has the potential to scale to 8,000+ transactions per second. I was just wondering why no cryptocurrency (and even though BCH is far better than BTC) has been able to reach these goals, despite our significant improvements in technology.

    submitted by /u/1MightBeAPenguin
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    PSA - Shill research & activity report 04.12.2019. Shills are preparing a new attack angle (probably)

    Posted: 04 Dec 2019 02:51 PM PST

    Something new is happening in the shill environment.

    I have observed known shill specimen in the wild creating new (supposedly-uncensored - even with publicmodlogs) subs and are inviting known public persona from the BCH world to be mods there.

    I was asked to be a mod as well, which I explicitly declined.

    Other shills have also been observed while flocking into the newly created shill nest.

    So far there is not enough information to conclude what this could mean for the shill species and their plans for the close future, but from my previous observations I can guess that creation of a new nest by packs of shill specimen, lead by a new alpha usually precede some turning point for the pack's future.

    This could mean some change of strategy as the pack is devising new ways of hunting the prey together.

    In the meantime I will keep observing the marked specimen and post report if anything conclusive or interesting happens. Maybe one day you will see a movie about these peculiar creatures on National Geographic.

    submitted by /u/ShadowOfHarbringer
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    What is the largest (in bytes) transaction you've seen or done on BCH chain?

    Posted: 04 Dec 2019 11:11 AM PST

    It seems like average block size is about 100kb, so how often do you think large sized transactions happen? There must occasionally be transactions where hundreds of UTXOs are combined to make a very, very large sized transaction.

    Is there a way to search for TX's by size?

    This was largest I've ever noticed: https://blockchair.com/bitcoin-cash/transaction/5cb3bc3da8482854b616b5822f2627634410af41a88eb7e86accab6e12a4c05

    submitted by /u/takeoveritsyours
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    I love that XRP is all about "sourcing liquidity" for moving money around, cashing in and out faster than volatility can affect you... But dang, you could use BCH for that!

    Posted: 04 Dec 2019 11:41 AM PST

    CRYPTO DEV DIGEST: The Pirate Bay Shilled HEX, VPN PIA Acquired by Kape, Orchid's White Paper

    Posted: 04 Dec 2019 02:44 PM PST

    [Video] GoCrypto: A Crypto Payment Solution For Every Store!

    Posted: 04 Dec 2019 07:10 AM PST
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