• Breaking News

    Thursday, September 17, 2020

    Home Unlabelled Bitcoin Daily Discussion, September 17, 2020

    Bitcoin Daily Discussion, September 17, 2020

    September 17, 2020

    Bitcoin Daily Discussion, September 17, 2020

    Daily Discussion, September 17, 2020

    Posted: 17 Sep 2020 12:00 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!

    If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

    Join us in the r/Bitcoin Chatroom!

    Please check the previous discussion thread for unanswered questions.

    submitted by /u/rBitcoinMod
    [link] [comments]

    *BREAKING* @Krakenfx just won approval to create - America’s first crypto bank - Kraken is a BANK!!!

    Posted: 16 Sep 2020 07:35 AM PDT

    Release the Kraken

    Posted: 16 Sep 2020 06:41 PM PDT

    The U.S. slims down its crypto regulation: companies in this space will no longer need to be licensed state by state

    Posted: 16 Sep 2020 11:51 AM PDT

    When Buffet Buys Gold, You Know Something Big is Coming...

    Posted: 16 Sep 2020 11:11 PM PDT

    Kraken Gets License for Wyoming’s First Cryptocurrency Bank

    Posted: 16 Sep 2020 06:16 PM PDT

    There Are Now 10,000 Bitcoin ATMs Globally

    Posted: 16 Sep 2020 03:49 PM PDT

    Largest precious metals vendors want your BTC for their products. Good new for the Bulls

    Posted: 16 Sep 2020 07:22 PM PDT

    Kraken Wins Bank Charter Approval

    Posted: 16 Sep 2020 07:50 AM PDT

    It's just really hard for some people.

    Posted: 16 Sep 2020 08:03 PM PDT

    Pomp interviews Michael Saylor, the CEO of MicroStrategy (MSTR), public company who just bought 38,250 bitcoins for $425 million

    Posted: 16 Sep 2020 05:17 AM PDT

    has bitcions improved the world in anyway?

    Posted: 17 Sep 2020 12:04 AM PDT

    Things Bitcoiners Don’t Want To Hear - Shinobi

    Posted: 16 Sep 2020 09:27 PM PDT

    Ledger Live adds Coin control: Here's why that matters.

    Posted: 16 Sep 2020 09:57 AM PDT

    Ledger Live adds Coin control: Here's why that matters.

    Ledger Live version 2.11.1 (download link) adds Coin control for power users.

    The coin control feature gives advanced users more granular control over their wallets. It enables them to change how and which coins are selected when making transactions. This increases their ability to manage their privacy and the network fees they will have to pay to spend their account balance.

    More control over your coins

    How does it work?

    The account balance for Bitcoin and its derivatives consists of all the unspent transaction outputs (UTXOs) in the account. You can think of UTXOs as the coins in a regular wallet. When you receive money, you collect coins in your wallet. Then, when you want to make a payment, you get to choose which coins you pick from your wallet. Do you pick the largest coins first? Or do you want to spend all the smaller value coins to lighten up your wallet? Similar considerations can be made when creating a Bitcoin or Bitcoin derivative (altcoin) transaction.

    Before the Coin Control feature was released, all transactions involving Bitcoin (and altcoins) automatically selected their coins using the First-In-First-Out (FIFO) algorithm. This strategy includes the oldest coin in the account, and when the amount is not sufficient the second-oldest coin is added, and so forth.

    As of Ledger Live version 2.11.1, users are able to make use of a dedicated Coin Control tool to choose the coin selection strategy and the coins that may be spent.

    Using Coin control in Ledger Live

    Coin control is available in Advanced options in the Send flow

    1. Click on Send, choose an account to debit, and enter a recipient address. Click on Continue.
    2. Enter an amount and click on Advanced options. You will then see:
      - The currently selected, default coin selection strategy: Oldest coins first (FIFO).
      - A toggle to enable Replace-By-Fee (RBF).
      - A toggle to include coins from unconfirmed, replaceable transactions.
    3. Click on Coin control. The coin control modal opens.
    4. Select a Coin selection strategy from the dropdown menu:
      - Oldest coins first (FIFO). This is the default strategy that spends the oldest coins first.
      - Minimize fees (optimize size). This strategy tries to minimize the byte size of the transaction by spending the lowest number of UTXOs. This results in a low network fee.
      - Minimize future fees (merge coins), This strategy includes the maximum number of inputs so that a potential future price rise does not make smaller UTXOs economically unspendable. If the price of a crypto asset increases too much, small UTXOs may become worth less than the cost of the network fees to spend them.
    5. Select which coins may not be included in the selection by unticking their checkbox. The SELECTED indicator shows which coins will be included in the transaction. By changing the selection strategy and/or coins to include, the user has precise control over which coins end up being spent. The Coins to spend and Change to return indicators show how much is spent from and returned to the account.
    6. Click on Done to return to the Send flow to verify and send the transaction.

    The coin control window lets you select the strategy as well as pick the coins. Coins marked SELECTED will be included in the transaction.

    Coin status

    The following statuses can be displayed for a coin:

    • Coins received in a transaction with 0 confirmations without RBF enabled: PENDING
    • Coins received in a transaction with 0 confirmations with RBF enabled: REPLACEABLE
    • Coins received in a transaction with 1337 confirmations: 1337 CONFIRMATIONS

    By enabling the toggle Include coins from unconfirmed, replaceable transactions, replaceable transactions can be selected in the Coin control screen.

    The Privacy use case

    One of the main use cases for Coin control is to protect one's privacy. UTXOs are, unfortunately, not perfectly fungible due to their unique history on the blockchain. Therefore, users may want to spend coins from different sources without mixing them together, because this would indicate to an outside observer of the blockchain that these addresses belong to the same account. For instance, if one were to spend coins bought on a KYC exchange, which are associated with the user's identity, together with coins bought anonymously using cash, the anonymous coins could be linked to the user's identity.

    Another example would be that you would like to prevent spending a high-value coin for smaller purchases because this would unnecessarily show the person you're paying how much you have. This is similar to not showing the boulanger how much is on your bank account when buying a baguette.

    Let us know what you think!

    We are excited to release this new feature because we think it will fulfill real needs of an important part of our users. This version of Ledger Live marks an important milestone, but we will continue working on more features that our community wants.

    So, we invite you to try out Coin control in Ledger Live and let us know what you think! All feedback is welcome on this thread, on r/ledgerwallet, and you can send suggestions or get help through our official contact form.

    We'd like to close out by underlining our commitment to the Bitcoin community, and our willingness to build the best wallet ecosystem for newbies as well as for power users.

    submitted by /u/fabnormal
    [link] [comments]

    Is the bitcoin community not focused enough on technical sides of things?

    Posted: 17 Sep 2020 12:35 AM PDT

    Economic of bitcoin make complete 100% sense in my opinion. But I see there isn't enough attention the technical, bitcoin core source code side of things At least r/bitcoin repeats the same memes and how bitcoin has a limited supply, big banks are bad etc. All of these are true of course. But it just keeps getting endlessly repeated. While technical issues are almost absent.

    For instance : A major vulnerability found and fixed 2 yrs ago has been disclosed now. INVDoS. Not a single discussion here...

    Bitcoin will change continuously. And asper my understanding, has an extremely slow weeks-long upgrade process, as any vulnerability will exist as long as 50% node have been upgraded. This means any future vulnerability could be absolutely disastrous.

    The worst is that most bitcoiners are just not concerned about it. The 2018 inflation bug, one dev felt responsible for it. If the oversight of one guy can bring bitcoin to its knees, this is a massive massive problem! And with a continuously changing software, something that is bound to repeat. 1 - 5 - 10 year down the line. I used to be very bullish. But its no digital gold for me no more :-(

    submitted by /u/batbitcoin
    [link] [comments]

    Parker Lewis - Gradually Then Suddenly - BitBlockBoom

    Posted: 16 Sep 2020 05:41 PM PDT

    Wealth, power and influence of Bitcoin whales in the future. Increasing future inequality?

    Posted: 17 Sep 2020 01:53 AM PDT

    So I get the following questions asked a lot and I don't really have a good answer: How does Bitcoin solve the problem of wealth inequality if a small percentage of people/companies own the largest portion of the available Bitcoins? And won't this result in the whales having immense wealth, thus power and influence in the world?

    Usualy I answer saying that that is not the problem Bitcoin is trying to solve, and that wealth inequality will probably always be a thing or at least something that won't be solved by the form of currency we use.

    I'm curious what your thoughts are on this since I have failed in finding much information about this issue.

    submitted by /u/Awsomenom
    [link] [comments]

    The USA Just Released the Cryptocurrency Bulls with the Kraken Financial Bitcoin Bank!

    Posted: 16 Sep 2020 07:15 PM PDT

    The Federal Reserve Continues to Run the Best Marketing Campaign Ever for Bitcoin

    Posted: 16 Sep 2020 09:18 AM PDT

    Bakkt Hits a Volume Record, 200 Million Dollars in One Day

    Posted: 16 Sep 2020 07:58 AM PDT

    ‘Kiss’ Star Gene Simmons May Be Planning To Make BTC, Ethereum More Accessible

    Posted: 16 Sep 2020 11:01 AM PDT

    Guy Swann explains Bitcoin and money in detail

    Posted: 16 Sep 2020 06:59 PM PDT

    Is mining profitable in 2020?

    Posted: 16 Sep 2020 09:31 PM PDT

    Do people profit by mining anymore? If not why do people mine if it is no profit? If mining is profitable then how? I am looking at cost of different asic hardware. Even at bulk prices and with free electricity the online mining reward calculators still show a loss by never recovering the price of hardware. Or in a good situation just a cut even. Is mining on bitcoin now only reserved to the few elitist who manufacture asic machines?

    The claims that it is profitable because bitcoin value go up is invalid. Because at that case better off to just buy bitcoin and hodl instead of buying asic with it. Or if bought the hardware using bitcoin may never recover costs.

    How is lack of asic resistance not an issue?

    submitted by /u/kryptotrayder
    [link] [comments]

    Pro tip when selling second-hand things: make sure people know you accept and prefer BTC

    Posted: 16 Sep 2020 02:24 PM PDT

    So I started doing it on all my selling ads and lots of people talk to me because they want to spend their bitcoins on something.

    And even some people talked to me asking why would I prefer BTC payments.

    Great publicity for Bitcoin!

    submitted by /u/nerviosus
    [link] [comments]

    Turkey’s collapse is just a canary in the goldmine. Bitcoin price explode imminent

    Posted: 16 Sep 2020 12:03 PM PDT
    Read more
    at

    No comments:

    Post a Comment