How to remove a Trojan.BitCoinMiner Miner Infection
How to remove a Trojan.BitCoinMiner Miner Infection
Bitcoin companies list – Blockchain, Mining, Exchanges ...
Bitcoin Tipping Service ChangeTip to Shut Down - CoinDesk
ChangeTip Brings Bitcoin Micropayments to YouTube, Google+ ...
I just made a bot that forwards all Bitcoin Changetip tips as donations to P2Pool miners.
There is a 0.1 mBTC transaction fee, plus a 1% fee collected by me (taken after the transaction fee). All tips sent to p2pooltip are forwarded as a donation to P2Pool miners using the /patron_sendmany/[amount] value from a P2Pool node. Feedback is appreciated.
01-01 09:38 - 'Interest Check: I'm (probably) making a reddit tip bot to replace ChangeTip. What would be an acceptable way to account for Miner Fees for on-chain withdrawls?' (self.Bitcoin) by /u/Amperture removed from /r/Bitcoin within 4492-4497min
Happy Tipping Tuesday! Now that this sub is the main Bitcoin sub in terms of activity, it's time for everyone to get some Education and some free Bitcoin. Post here and get free bits! Bitcoin Cash will defeat the legacy banking oligarch system!
As someone who cares about Liberty and freedom, I have instinctively understood the importance of Bitcoin for spreading economic freedom across the globe. Being sick of the legacy too-big-to-fail central bank fiat bailout scam systems where they print the money from thin air, I saw Bitcoin as a tool that can really liberate humanity and help us reach our ultimate potential. The fact is economic freedom improves this world, and the stakes are very large. We are fighting an oligarch banking system that prints money out of thin air, holding back humanity's potential with their scam system that only works to enslave and not liberate humanity. In the past people fought for liberty and gave their lives on bloody battlefields. Today we fight troll wars on social media, but the stakes are quite similar, if not multiplied in this new technological age. By supporting Bitcoin and Satoshi's vision of a worldwide honest cash system, its one of the only ways to help lift humanity up to our ultimate limitless potential. The oligarch's saw this threat which is why we are under heavy attacks. They stole Bitcoin and the ticker, and crippled the system with high fees, unreliable transactions, and Trojan horse tech, but Bitcoin Cash adapted, survived, and lives on as the common sense continuation of the money ledger. It turns out that its not so easy to stop an idea whose time has come. Bitcoin Cash is the true Bitcoin that follows Satoshi's vision of common sense and on-chain scaling. BCH is The Manifestation of the Honey Badger. Trolls will point to market cap and say BCH is losing and not the real Bitcoin. However they fail to understand the nature of the war we are fighting. Bitcoin is all about breaking oligarchy, as nChain's paper explains. We are fighting against a banker oligarch takeover of Bitcoin. Since they print money from thin air, they have us outgunned when it comes to market capitalization/price. This is what the trolls do not understand. To think that the oligarch bankers that control the money monopoly would not try to attack the Bitcoin system would be naive. It appears they have pumped the BTC-Core price to outrun Bitcoin Cash the real Bitcoin as soon as their trojan segwit tech was deployed. They likely will use segwit, strangled blocks, and Lightning Network as the strangler fig to usurp the system changing it to fiat legacy banking system 2.0. What they don't want people to realize is that Bitcoin was always the underdog against fiat systems. Just because they usurped the name and BTC ticker for their fiat 2.0 system it does not mean they are winning the war. Its a clever tactic sure, but BCH is still the #1 cryptocurrency by market cap in the world, they have shifted some shells around in trickery, but Bitcoin-BCH is still fighting as the underdog against the oligarchs as it always has. Not only this but the numerous problems in Lightning are acting as a bottleneck for development on Core. All this while BCH development is soaring with things like memo.cash, blockpress.com, cashshuffle protocol, chainbet protocol, SLP token protocol, colored coins, tokeda, and much more. Now that we have solved the scaling issue we can finally build again. All this while numerous services like Dell, Steam, Reddit, Rakuten, Stripe, Circle, Microsoft, Fiverr, Satoshidice, Changetip, Expedia, and many more stopped accepting Bitcoin Core, while Coinbase, Bitpay, coins.ph, satoshidice, tippr, purse.io, dark web all are adding BCH support. They thought they could use censorship to shut us up. But now we are seeing that free speech is more popular than censored cult subreddits. We are battling some powerful oligarch interests. But they have vastly underestimated the spirit of the Honey Badger. There is a reason there is so much COINTELPRO trolling and dirty tricks being done to Bitcoin Cash and its supporters. There is a reason they need to use vote manipulation, shaming and bullying tactics, censorship, and dirty tricks to try to get us to shut our mouths. The truth is they are terrified of Bitcoin Cash and Satoshi's vision, which is why they need to use such tactics. They are doing whatever they can to pen the Honey Badger up in sheer desperation and terror that it will soon break loose ripping them limb from limb and devouring them whole. I would like to mention that the recent turmoil in the BCH community over a November fork with different factions fighting each other is on a lot of people's minds. Some newbs may also be wondering about what is going on. They may be falling into the Fear Uncertainty and Doubt that is being pushed by a lot of Core trolls, as well as some genuine members of the BCH community. I would like to point out that these disputes are actually healthy. We don't want a system where one person or group controls things. We want a system where people are fighting for control. Its an economic incentive system with different factions competing. This is what keeps Bitcoin robust and was the genius of Satoshi's design. We don't need to worry about the troll wars because we have Nakamoto consensus as the whitepaper says:
They vote with their CPU power, expressing their acceptance of valid blocks by working on extending them and rejecting invalid blocks by refusing to work on them. Any needed rules and incentives can be enforced with this consensus mechanism"
Paypal is failing in EPIC fashion for the MillionaireMakers reddit. 1.40$ sent to receive 1$, freezing the winners account, etc. Meanwhile Changetip users are sending 1$ and 1$ is going to the winner. No issues
The /r/btc China Dispatch: Episode 1 - China Reacts to Hearn’s Rage Quit
Hello, fellow /bitcoin refugees! The thought recently occurred to me that the transition from North Korea to our new uncensored home here might be helped if more original content was published to this sub. As I am a translator by trade, it seems like the best way for me to contribute on an individual level is to provide the English-speaking community here with a window into how the Chinese-speaking bitcoin community thinks about bitcoin and the issues facing bitcoin today. I believe that it is more important now than ever to bridge the cultural and linguistic gaps in this space so that more minds can have access to all available information and work on the most important problems facing the community together. Therefore, I have decided to commit a small amount of time every day for the next week to translating a Chinese discussion thread or news article into English. My hope is that you guys will find these translations interesting and informative and if the response this week is generally positive, I may consider making this into a regular project. So, without further ado: here is a thread from the Chinese bitcoin forum 8btc.com regarding Mike Hearn’s recent decision to throw in the towel on bitcoin. The original thread can be viewed here: http://8btc.com/thread-27998-1-1.html) [OP] Title: The Bitcoin Experiment Has Failed: Time to Sell Your Holdings and Pack it in Folks Posted by 英年早睡
I’ve spent more than 5 years being a Bitcoin developer. The software I’ve written has been used by millions of users, hundreds of developers, and the talks I’ve given have led directly to the creation of several startups. I’ve talked about Bitcoin on Sky TV and BBC News. I have been repeatedly cited by the Economist as a Bitcoin expert and prominent developer. I have explained Bitcoin to the SEC, to bankers and to ordinary people I met at cafes. From the start, I’ve always said the same thing: Bitcoin is an experiment and like all experiments, it can fail. So don’t invest what you can’t afford to lose. I’ve said this in interviews, on stage at conferences, and over email. So have other well known developers like Gavin Andresen and Jeff Garzik. But despite knowing that Bitcoin could fail all along, the now inescapable conclusion that it has failed still saddens me greatly. The fundamentals are broken and whatever happens to the price in the short term, the long term trend should probably be downwards. I will no longer be taking part in Bitcoin development and have sold all my coins.
http://www.8btc.com/mike-hearn-bitcoin Well it looks like one of the big gods has spoken. What are you guys still holding out for? [Response 1] Posted by 胡老头 Back in 2013 there was a developer who gave up on bitcoin, and what happened after that? This is nothing but a personal miscalculation. I don’t care whether it’s a developer or even Satoshi himself saying that a decentralized system like bitcoin has failed - it’s equally meaningless and doesn’t do anything to change the general trend of robust development. [Response 2] Posted by ls-a This Mike Hearn is the guy who was promoting XT, right? Just because XT has failed doesn’t mean that bitcoin has failed. [Response 3] Posted by 秦的爱恋 Just because bitcoin has failed doesn’t mean that cryptocurrency has failed. [Response 4] Posted by yuli7376 The future success or failure of bitcoin is not something that can be decided by a single person. Even if the entire development team quit there will always be new people who will take the reigns and continue development. [Response 5] Posted by bitea I guess the foreign [Western] community had a bit of a shock and have started selling? In that case keep it up guys. Makes it easier for us to accumulate. [Response 6] Posted by 玛_雅
This Mike Hearn is the guy who was promoting XT, right? Just because XT has failed doesn’t mean that bitcoin has failed.
His decision “not to continue participating in the development of bitcoin” may be due to the fact that the community saw that he put forward the radical proposal known as XT and expelled him since he was not suited to core development. In truth, he didn’t exit core development, but was kicked out. Now with this announcement he’s trying to make it out like he’s the one quitting as a way to save face. Given that he tried to promote the 8MB solution in XT, it’s clear that he’s not a “big god,” but more like just a “big cow” [translator’s note: in Chinese netspeak, “big cow” can be used to refer to someone of talent, but the word is a significant step below “big god”]. There is a greater security risk with 8MB. The real big god is the guy who proposed the “segregated witness” soft fork. [Response 7] Posted by 大绅士奇奇怪 I looks to me like he’s pissed off because of the lack of support for XT. At the current stage the vast majority of people who accept bitcoin are fairly radical. Yet this big god complains in his essay that other people are too conservative! He’s gotta be off his meds. Also, this big god seems to really like to talk smack about China’s internet, but he doesn’t do anything except complain. His attitude is really not what you would expect from someone of his caliber. [Reponse 8] Posted by vatten Any time that money is involved any kind of radical proposal is going to be rejected. It’s the same reason why the US Fed can only move interest rates 0.25% at a time. [Response 9] Posted by yuxuan If you don’t want to play, just leave quietly. That’s all for now folks. Will be back with another installment tomorrow. Edit + 4 hours: Holy shit. Never would have thought there would be so much enthusiasm for this post. Thanks for all the positive feedback. I look forward to continuing this series in the future!
BCH Roadmap? Open minded but slightly skeptical Core Supporter
Hi all, I'll be completely honest. I was very skeptical of BCH and dumped ~1/2 of mine shortly after the fork. This was partly because I expected 2X to go through and didn't see what the need for both BCH and 2X was. I also didn't love the NYA or the politics around the 2X push and when that died I was actually somewhat happy. However, I do feel like bitcoin as it is today is extremely clunky and shitty to use and BCH is not. I honestly don't believe that a reasonable argument exists that we wouldn't all be better off right now with 2gb, 4gb or even 8gb blocks on core. That said, I am also skeptical of a few elements of BCH. One thing I appreciate about this sub is that there is generally pretty open and honest discussion so I will just lay out my concerns:
When BCH was launched the difficulty was super low and the chain ended up with ~100K more coins mined that what BTC has. This honestly seems like something sleazy / some hand out to miners / some politics had to be involved and felt almost like a premine. What is the explanation for this within the BCH community? Who got those 100K coins and what justification is there for them receiving them? I care deeply about Crypto BOTH as a store of value AND as a medium of exchange. BTC is failing in the later sense but a coin that just decides to print 100M in coins for no reason (which inflates away value for all holders) seems to be failing in the former to me.
I truly believe that bitcoin needs bigger blocks today. However, the idea that 1GB/1TB blocks are the right long term scaling plan which I have read in a few spots here does seem questionable to me. I agree with core's concern that at some point too big of blocks will really reduce peoples ability to run full nodes and centralize the network. I don't think that is an issue at 2mb or 8mb, but if the long term roadmap is 1gb blocks then I am concerned.
Devs and community. I honestly feel like people like Andreas Antonopolus are infinitely better communicators and thought leaders within the crypto space than someone like Roger Ver is. I work in the tech industry and I know from experience that the better technology can and does lose in the open market to superior messaging, marketing and communication around a product and its value proposition. I also think that the core dev team, while not perfect, have ensured for almost a decade that bitcoin is secure and that is not an accomplishment to overlook. I don't think the BCH devs come with the same track record and I think the bch community seems to not realize the the security side of things is REALLY important just as core does not seem to realize that medium of exchange is REALLY important.
So I'd love to hear what you guys think of regarding 1-3 above. Hopefully this isn't offense or insulting, just my honest thoughts! I am thinking of buying more BCH today :) EDIT: There is a lot of good conversation in here and there are for more replies than I can respond to, so I won't respond to everyone, but I did read every comment and I greatly appreciate the discussion. EDIT: Also thank you for the tips! they remind me of the good old days when core had changetip
Tipping / Giving Tuesdays - This will be my last Tipping Tuesdays thread - /u/couchdive will be taking over - click here for the explanation!
- Passing the Torch - Explanation
Thanks to everyone for supporting this thread for the last 6 months, It's been a very fulfilling way to give to people all over the world and introduce people to Bitcoin. SO MANY of you have reached out in pm To personally thank me for introducing you to this magical world of internet money and charity - this has brought me a great deal of happiness :) In the essence of honesty and openness which is something I have always encouraged, I felt it wouldn't be possible to continue with Tipping Tuesdays - My two primary reasons being:
Very busy work schedule which has been taking up the majority of my time
Changetip has recently approached me to work with them in a few capacities, one being charitable efforts. This aligns perfectly with what I want to do with my life, they also have an exceptionally talented and more importantly a kind team.
In the interest of an open give away thread which is both charitable and encourages giving, I've asked couchdive to take over Tipping/Giving Tuesdays. I genuinely hope it continues down a good path and that the community Continues to love and support a give away thread from the people for the people. I will be stopping in the thread to tip people since I will be in denial for the first few weeks :D If you have ever heard of Meerkat feel free to follow me on twitter @analyzerx7 for occasional give away sessions on live stream. Again thanks /bitcoin for basically being fucking awesome <3
Barbados Food Drive
Bitt.com has gracefully assisted us in providing the deep cold storage multi signature wallet solution. We want to maintain complete openness with /bitcoin. All funds will be right there for perusal - spent funds will have scanned invoices and clear explanations. We think transparency is paramount and are taking strives to ensure the community feels that their pledges are actually going to the hungry. I have personally pledged 2 BTC We will be recording parts of the event so /bitcoin may share in what we have all helped to create. PLEDGE FOR THE FOOD DRIVE BY EITHER DONATING HERE: 3Jma5Nh2kLjpXmbQ2WWDVj8mMn3Kx8zaNh or via changetip - all tips will be sent across to that address. If you have another crypto currency which you wish to donate in please write it in the thread and we will PM you directly to assist you. EDIT We have raised 2.6 BTC so far and are nearly at our target 3.0 BTC - We will keep the community abreast of all that happens and look forward to feeding some hungry people with our Magical internet money.
Little Bit Back
Tails – Anonymous Operating System Tails is a live operating system, that you can start on almost any computer from a DVD, USB stick, or SD card. It aims at preserving your privacy and anonymity, and helps you to:
use the Internet anonymously and circumvent censorship
all connections to the Internet are forced to go through the Tor network
leave no trace on the computer you are using unless you ask it explicitly
use state-of-the-art cryptographic tools to encrypt your files, emails and instant messaging
Donate bitcoin directly at Little Bit Back. ### PLEASE CONSIDER PASSING MY TIPS ON TO OTHERS OR CHARITIES :D ###
Maybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:
You can buy or sell any amount of bitcoin (from as little as $1 worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank account. A good list of exchanges sorted by region can be found on the exchanges wiki here. Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Here are a couple useful sites [bitkoin.io, preev.com] that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".
There are several benefits to accepting bitcoin as a payment option if you are a merchant;
1-3% savings over credit cards or PayPal.
No chargebacks (final settlement in 10 minutes as opposed to 3+ months with credit cards / PayPal).
Accept business from a global customer base.
Increased privacy for your customers.
The payment processor can convert 100% of the sale to the currency of your choice for deposit to your account which means there is no need to hold bitcoins and no exposure to price volatility. Alternatively, you can choose to keep a certain percentage of the sale in bitcoin if you wish to begin accumulating it.
If you are interested in accepting bitcoin as a payment method, there are several options available;
Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The friendly folks at /BitcoinMining would be happy to help you out. If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. You can view the global node distribution here.
Securing your bitcoins
With bitcoin you can "be your own bank" and personally secure your bitcoins OR you can use established companies such as Coinbase and Circle which have secured wallets where they hold the bitcoins for you and provide insurance. If you prefer to "be your own bank" and have direct control over your coins without having to use a trusted third party, there are many options in the wallets wiki. If you would prefer easy and secure storage without having to learn computer security best practices then a hardware wallet such as the Trezor, Ledger or HW-1 is recommended. Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email! 2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access.
Use ChangeTip.com (/changetip) for tipping people on Facebook, Reddit, Twitter, YouTube, Tumblr, Google+, GitHub, Slack and more! (you can even use custom monikers to tailor your tip to the discussion or add a bit of humor). Read more about ChangeTip at their reddit wiki.
Go to /FreeBits to get a few bits to practice with and then tip them forward. Go to /BitTippers to play games and solve riddles to earn your bits. Don't forget your flair!
You can use Lighthouse to crowdsource fundraising initiatives with bitcoin. It's similar to Kickstarter, but without intermediaries or exorbitant fees. You can participate in project discussions at /LighthouseProjects, and watch the progress of fundraisers at lightlist.io.
The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
1,000 per bitcoin
SI unit for milli i.e. millilitre (mL) or millimetre (mm)
1,000,000 per bitcoin
SI unit for micro i.e microlitre (μL) or micrometre (μm)
1,000,000 per bitcoin
Colloquial "slang" term for microbitcoin
100,000,000 per bitcoin
Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
If you want to use 'bits' exclusively, just remember that there are 100 satoshis in 1 bit, and 1 million bits in one bitcoin. For more information check out the Bitcoin units wiki. Still have questions? The friendly folks at /BitcoinBeginners would be happy to help you out, or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending mod approval. Welcome to the Bitcoin community and the new decentralized economy!
The /r/btc China Dispatch 11 - Summary / selected excerpts from Jihan Wu’s recent essay on the state and structure of the bitcoin ecosystem
Yesterday, Jihan Wu, the operator in charge of AntPool, released a lengthy essay discussing the state and structure of the bitcoin ecosystem as well as his personal thoughts regarding how the current blocksize impasse can be resolved. Unfortunately, the essay is too long for a complete translation to be finished in a reasonable amount of time, but I have read the entire text and would like to provide both a summary of the main ideas expressed in the essay as well as translations of selected excerpts. Though this essay is still being digested by the Chinese-speaking community as we speak, it seems to have been well-received and has the potential to significantly affect the discourse in the Chinese bitcoin community. The core thesis of the essay is as follows: the bitcoin ecosystem consists broadly of three different classes of participants: the developers, the miners and the users. As most of us here know, the developers write and maintain the software that is run by the miners and users, while the miners perform the necessary proof of work to maintain the integrity of the blockchain and users perform transactions on the blockchain. Jihan states that, taking into account the objective structure of the bitcoin ecosystem and its incentives, actual power over bitcoin is held primarily by the users, followed by the miners and lastly the developers, who theoretically should have the least amount of power over the ecosystem. However, these three classes of participants currently do not influence the state of the system in a way which is proportional to their respective levels of power over the system due to their relative levels of organization. While users should theoretically have the greatest influence over the system in aggregate due to their critical role in “imparting value on bitcoin,” they suffer from a low level of organization. In contrast, though the developers should theoretically have very little power in deciding the direction of the ecosystem, they benefit from an extremely high level of organization and coordination which enables them to effectively project their power. Miners and their representatives, the pools, are somewhere in the middle with moderate objective power and a moderate level of organization. Given the above framework, it is also important to note that the two classes of participants which have the weakest level of organization, the users and the miners, each rely on a respective type of “agent” or “proxy” to represent their interests and power over the ecosystem. For the users, these agents are constituted by “service providers” that allow users to transact on the blockchain and use bitcoin such as exchanges, online wallets, etc. For the miners, agents correspond to mining pools which take care of the technical overhead for individual miners. Having provided the above description of the ecosystem, Jihan then discusses the “Blockstream problem,” stating that, with the departure of Gavin and Jeff, two of the remaining three major developers are employed by Blockstream and within the Core development community “there are many active and important developers who all work at the same company.” This is also a major factor which contributes to the developers’ organizational superiority as the developers’ “herd mentality” is strengthened. Jihan further writes: “To summarize the above, Core is protected by both by its monopoly brand as well as the costs associated with migration to a different implementation. Furthermore, the fact that software development itself requires a solid organization as well as the fact that many important and active developers are employed by the same company gives them tremendous organizational power, allowing them to easily eliminate internal divisions, achieve consensus and put up a unified front. They are emotionally linked together and I even perceive that they have established a social dynamic that one often sees in religious groups which causes them to develop a surprising level of confirmation bias: that is, when you have a certain view, you will tend to do everything you can to collect evidence to prove that your view is correct while selectively ignoring evidence and facts which conflict with your established view.” “We have also found that the Core development team is strongly supported by a censorship regime: all discussion on Bitcointalk and /bitcoin regarding competing implementations of the bitcoin protocol is aggressively censored. It is quite incredible that censorship, a method which is most commonly found within Leninist countries, has been so thoroughly implemented within the bitcoin community, which prides itself on liberty. The Core team has maintained at all times, and with a stunning degree of consistency, that a hard fork upgrade will require 12 months of preparation time, but once you get outside of this close-knit circle, you find that this opinion is actually held by very few people. There are even some developers within the Core group who have threatened to withdraw from further development as a way of discouraging miners from opting to run other implementations of the bitcoin protocol.” Jihan then discusses how switching to a new software implementation is risky, but it is hard to ignore the threat posed by Core and its continued lobbying. He then discusses some important thoughts he had at the Hong Kong meeting: “There is another issue that deserves discussion here which is the relationship between Core and the entire bitcoin economy. This is an issue that occurred to me when I was listening to a representative of the Core group criticize Gavin at the Hong Kong meeting. Core believes that Gavin should not have attempted to route around the Core development community’s process and directly communicate with the public. This implies that Core has some kind of internal process for making decisions. This process includes submitting BIPs for discussion, submitting code for discussion, etc. At the same time in Core’s opinion it is not acceptable, or even vulgar and indecent, to route around the Core entity and their internal established rules and directly communicate with bitcoin users. I do not agree with this view: the open debate of important and controversial topics should be encouraged in any free and open community and should not be prohibited." “A core community representative also stated that the procedure for discussing bitcoin should not be democratic. This approach has obviously not been successful. Even if you think that the above is true, you should at least engage in a wide breadth of discussion rather than simply moving forward with established rules. The procedural rules for discussion within the Core community lack transparency. Furthermore, I think that it is very much worth examining in depth how the views of more than a dozen people all employed by the same company should be counted in a small community of 50 people.” Later in his essay, Jihan discusses the feedback that he has received from his users regarding the block size issue: “Given the current way in which users communicate, it is impossible for anyone to definitively prove that everyone has come to some consensus. However, I can tell you based on my observations of our own user base that the vast majority of users believe that it is necessary to immediately upgrade to a 2 MB blocksize via a hard fork. However, it is necessary for AntPool to remains very conservative in terms of its actions. AntPool’s position does not allow it to act rashly like so many forum keyboard warriors. What we need to do is speak and discuss as much as possible and collect feedback from said discussions.” Lastly, Jihan outlines his proposal for how this and other problems should be resolved going forward: “Firstly, different codebases should be submitted rather than just BIPs. The developer community should submit code directly to the user community for discussion, with the opinions of service providers taken into special consideration within the discussion. Service providers have a technical background and they have more than sufficient expertise to make judgements. At the same time, service providers should collect the opinions of their users regarding the issue in question and should express their own view based on a statistical summary of their users’ opinions. In this way their decisions will be given greater legitimacy and will obtain wider support. The decisions made by each service provider should be tallied and used as a basis for a community-wide voting process.” In the essay’s concluding section, titled “What Can You Do?” Jihan writes: “I would like to call on all service providers, regardless of their business, to interview your users for their opinions; normal users can also write to the CEOs of any services they use on a regular basis via post or e-mail to express their views. This process is similar to how an electorate votes for representatives.” “Though service providers can opt not to sample the views of their users, I believe that doing so is unwise. I think that at the very least this is a valuable opportunity to interact with users and deepen users’ impressions of, and relationship with, their providers.” “Furthermore, you can publish the e-mail addresses and mailing addresses of CEOs of major bitcoin service providers in the comments section below so that other people can send them feedback.” “AntPool will rapidly complete development of a voting system and miners will have the opportunity to express their opinions. We will also make extensive efforts to inform miners who are unaware of our voting system so that they can participate in the voting process.”
There's been a lot of talk lately of Blockstream trying to change the Core protocol in way that might alter the incentives that make Bitcoin Core antifragile. There is a solution: Don't be so quick to upgrade.
We've all looked forward to getting that new shiny upgrade of our operating systems or video games, etc.; however, this is not necessarily the right mentality for a decentralized system. If we jump onto every update by the Core developers, then we've centralized the way Bitcoin works into the hands of those very developers, transforming them into the cabal that pulls the strings… and possibly for personal profit to the detriment of others…
Peter Todd, a long-time voice of both innovation and caution amongst us:
It'll be interesting to see how willing those Bitcoin Core maintainers now working at blockstream will be to merge in changes, like reducing/eliminating OP_RETURN, or getting rid of bare multisig, that happen to harm their competitors. Of course, my advise to those competitors is to not depend on Bitcoin Core features that can be easily removed by the maintainers.
think about it. their plan involves separating the BTC currency unit from its secure blockchain then allowing those to be transformed into all sorts of speculative assets on a SC. that destroys Bitcoins Sound Money function.
In other words, Bitcoin is stable because the coupling of BTC and the official blockchain creates an incentive to be good custodians of the official blockchain. The changes being proposed might dissolve that dynamic.
fore every risk there is a an up and a downside. I'm pointing out that Side Chains aren't all upside. there are 2 types of SideChains, those that work on top of the Bitcoin protocol these i consider innovative and healthy. then there are those that require a change in the Bitcoin protocol to make them possible these i consider detrimental to Bitcoin as we know it. The proposed change doesn't originate form the community, it comes from a for profit company BlockStream, who has now employed 2 out of the 5 developers with the ability to change the Bitcoin Source-code. The upside is we can do more with Bitcoin. the Downside is this changes the mining incentives that create the security that makes Bitcoin possible. some say its an improvment because miners will get new Bitcoin revenue from mining SideChains, but fore every risk there is a an up and a downside. The downside is we know Bitcoin block rewards will drop exponentially, eventual miners will need the transaction fees for income (maybe in 6 years). if miners get transaction fees from Side Chains the incentives to protect bitcoin are diminished, they could earn BTC by mining Sidechaines while at the same time with the same hardware do a 51% attack on bitcoin. will they i dont know, could they yes, but only if this change is made.
there are 2 types of SideChains. ones that happen on top of the protocol, these do not threaten Bitcoins incentive structure, they are good for the bitcoin ecosystem. SideChains that are dependent on SPV proofs run on the Bitcoin protocol level are a real threat. Miners rewards diminish over time, ultimately the only revenue for miners is from transaction fees. if those transaction fees are generated on faster or more private SideChains for any reason at all, Bitcoin provides less incentive to miners to secure it. in the case we have successful SideChains, value can be sucked out of Bitcoin, you can always exchange back for your Bitcoin but the network will lose its value because it isn't the main network. the developers know Bitcoin is the parent, and the SC is the child, but economic forces dont use the same rules as software.
… Another argument is; side chains that become more popular than the bitcoin blockchain apparently offer better functionality / value / whatever. As long as people can move coins from the bitcoin chain onto this new chain, there's no issue. You could see it as a migration path to a 'bitcoin 2.0' successor, where everyone can bring their existing coins along. Wouldn't that be something? :) Edit: Here's an example. Let's say someone makes an Ethereum side chain that only uses Bitcoin instead of Ether as its coin. It would take some time to harden the Ethereum codebase, but let's assume that it's rock solid. Ethereum offers a lot more functionality than the bitcoin protocol, so I'd personally have no problem with it if that chain became more popular than the bitcoin main chain, to the point that bitcoin could even die off completely. Everyone can move over with the click of a button. No pre mining, no coin auction, just a peg from Bitcoin to the new Side-Ethereum. The main bitcoin chain would probably stay alive for quite some time, since the economic incentive of the miners is the remaining bitcoins and the potential funds that still want to move to the Ethereum side chain. Everybody wins.
However, what if it's not Ethereum? What if it's GovernmentCoin, embracing, extending, and then extinguishing Bitcoin? That's the possible downside, especially when deep, centralized pockets are involved.
Part of keeping a system decentralized is to be wary of centralized decision making. Be wary of the ones who pull the strings. If what you have works right now, then don't bother upgrading.
There's been some fantastic work done in this subreddit spreading disinformation researching, criticising, and debunking bitcoin and its sacred cows over the past year, which I would like to celebrate. So here's some posts I saved on bitcoin-related topics. But I started saving things too late... So if you have and/or remember any great posts from the past year, dig them up and post them here. Also, unironically, maybe someone should start a buttcoin wiki First, three pieces of investigative journalism from Buttcoin's top minds. Here Charlie_Shrem examines the environmental impact of bitcoin mining. Key finding: For every Bitcoin transaction, 47 kilograms of CO2 is released into the atmosphere from the miners alone.
Current hash rate: 261,900,382 GH/s Number of transactions per day: 71,331 If we assume rather conservatively that 1GH/s = 1 watt on average, then this would mean 261,900,382W is being used to power the network. We can simplify this to 261,900 kW. Some miners can do better than 1W per 1GH/s, but many if not most do worse (i.e. 2W per 1GH/s to 10W per 1GH/s). Going by the figure of 0.527kg CO2 / kWh found on this page, 0.527kg CO2 x 261,900 kW x 24 hours = 3,312,511.2 kg CO2 per day Now, 3,312,511.2 kg CO2 / 71,331 transactions = 46.44 kg CO2 per transaction For comparison, even going by this Coindesk Article, an ATM produces daily 3.162kg in CO2 emissions. 0.25kwH x 0.527kg CO2 x 24 hours = 3.162kg/day. That means that the carbon emission for one Bitcoin transaction is equivalent to about 15 ATMs processing perhaps hundreds or thousands of transactions in a day combined.
Earlier this month Frankeh abruptly interrupted remittance-focused annular onanism by issuing a challenge: to find a single instance where bitcoin works out cheaper than a fiat alternative. In case you need to ask... Nope.
Right, there's a bunch of circlejerking happening in /Bitcoin right now so I think it's time to cut through the bullshit one way or another. Country to send money to. The biggest remittance markets are China, Indian and the Philippines. I believe that since /Bitcoin often gives the Philippines as an example of successful Bitcoin remittance then it is the perfect country to use in our challenge. Country to send money from. According to this wikipedia article Malaysia and Canada have the biggest expat Filipino communities. 900,000 and 500,000. So I think we should do the calculations based on both countries. The methodology Most people are not paid in Bitcoin. This is a fact. So for our calculation you must start with fiat, and end in fiat. We're not doing these calculations based on future utility of Bitcoin (No, neo. I'm saying...), we're doing them on the current utility. We will also be doing a bank to bank remittance, because that is nice an constant. We don't need to take into account pick up locations Bitcoin remittance allows and pick up locations normal remittance allows. They'll vary too much. Time will also not be taken into account, as time doesn't actually matter when it comes to remittance. Now, Bitcoiners might shout about this particular rule but let me explain my logic behind this. A foreign worker gets paid every Friday. They start the remittance process on the Friday and regardless of if it takes 0, 3, or 5 days their family back in their home country just needs to base their life around money coming in on remitters pay day + 0, 3, or 5 days. Time taken is of no real value when it comes to remittance. All that matters is that it consistently arrives on day x. As such, any remittance services that take over 5 working days are to be ignored for the sake of this challenge. The amount The amount is going to be 25% of the average wage in each of the countries. This isn't extremely scientific because it doesn't particularly need to be, and the figures are hard to come by. So 1826.75 MYR for Malaysia and 1,398 CAD for Canada. Don't bother complaining about these, they're just examples. Few more ground rules
We're going to be going from bank/bank card to bank regardless, so we're not interested in banking fees on either side. They will be the same regardless of Bitcoin or WU (for example)
It must be from local fiat to foreign fiat.. You can't palm off the conversion fee to the receivers bank to keep fees down.
Any remittance service can be used, as long as Bitcoin is involved for people fighting the Bitcoin corner and Bitcoin isn't used for people fighting the WU (or similar) corner.
You must go through the process and document all the fees for each. Fees to look out for are currency spreads, transaction fees on exchanges, etc
Finally a recent thread, but commendable all the same. Hodldown presents some research leading to facts overturning years of knowledge in the bitcoin wiki. Even us shills have been laughing at bitcoin's pathetic capability of 7 transactions per second. It turns out, we were out by at least a factor of 2:
The average number of transactions per block right now is: 665 transactions The average block size is 0.372731752748842mb. That means the average transaction is 0.00056049887mb. Which means 1mb of transactions (the limit) is 1784 transactions Assuming a 10 minute block (a whole other can of worms) that means there is 10*60 seconds. 1784/600 isn't 7. It's a 2.97. Bitcoin at a technical level can not handle even 3 transactions per second.
On the transaction side: the Bitcoin community seems convinced that banks are ripping them off (which imo they are not), and that it can be fixed by applying some magicsauce over a transaction that is facilitated by banks regardless. So far in practice I haven't seen any evidence of the 'fast' 'cheap' and 'easy' transactions, like most recently with Mollie. They usually compare the fees of BTC>BTC transactions to the fees of Chase Mastercard > a fucking nomad in the Sahara (with consumer protection) to prove their point. The community also seems convinced that the entire world banks the way America does, not realizing that in Europe banking has been dirt cheap for years. And the security... oh boy the security. Half the population can't manage to go without a virus for one year (not an actual statistic), and now you expect them to secure their coins? People are dumb as shit, and software is always one step behind the exploits. We could of course create Bitcoin banks, but then there isn't much left of the original idea. On the 'intrinsic value' side: what the hell is wrong with people. If the underlying product is no good in any aspect, why is it worth much? Right now (that's like 5 years after introduction mind you) BTC is used in 3 types of transactions: Silk Road, SatoshiDice & extremely questionable transactions. It does its job well in that aspect, and that's all it will ever be. The community just turned the technology into a giant ponzi, and they don't care as long as they get paid. The people actually doing business in Bitcoin probably don't care about the price that much.
Someone who deleted their account, on the argument that merchant adoption is a cause of the price drop:
That's just an excuse butters use for the price going down. There's no real difference between selling bitcoin for fiat and exchanging bitcoin for goods and services. Both are a form of sale of bitcoin, an expression of preference for something other than bitcoin. If on balance, there's more flow of bitcoin into fiat, goods or services than there is a corresponding opposing flow, then it is simply the market expressing the view that bitcoin is overvalued. Therefore, the reduction in the value of bitcoin (as valued in fiat) is a sincere expression of the market's view of what the correct price for bitcoin is. Think of an example: A true believer has 20 BTC. He exchanges 10 BTC with Dell for a whizzy server. Dell (or another intermediary) sell the 10 BTC at an exchange in return for fiat. The market price of BTC goes down. The price goes down, simply because a true believer cut his bitcoin holding, he got out. He thought having a server now was worth more to him than 10 tickets to the moon. Which is an expression of a negative view of the future value of bitcoin. A simple "aggressive" sale in trading parlance.
My understanding is that "Satoshi" had been trying to solve the technical problem of convincing a bunch of anonymous, volunteers to maintain and protect a distributed ledger, with no central authority. He thought that he had a solution, in the form of a protocol that included PoW, miner rewards, longest chain, etc. The solution seemed to work on paper; but, as a good scientist, he started an experiment in order to check whether it would also work in practice. For that experiment to be meaningful, it would have been enough if the coin was mined for several years only by a few hundred computer nerds, with the cooperation of some friendly pizza places and bars. The US$ price of the coin was not important to the experiment, and it was never meant to be a weapon for libertarians, a way to buy drugs or evade taxes, a competitor to credit cards or Western Union, a sound investment or item for day-trading. All those "goals" were tacked onto it afterwards.
bob237 comments on the the absurdity of coinbase and it's touted 'rebuy' scheme,
It gets even better than that, actually. A lot of bitcoiners don't like 'losing' bitcoin, and so coinbase added a popular 'repurchase bitcoin' feature that automatically debits your bank account to replenish the BTC in your coinbase account after a purchase. The ultimate result then is that you pay coinbase fiat, they take their cut, and then send that fiat on to the merchant. All 'bitcoins' used in the middle of the transaction are not really bitcoins, but just abstractions in coinbase's internal [off-chain] accounting system. It's a crap version of paypal, no consumer protection and a ton of fees hidden in the spread when you buy your chuck-e-cheese tokens from them.
saigonsquareexplains why ubiquitous tipping isn't the the killer app that it has been touted as, and why bitcoiners may fail to grasp this
Most people understand that there are different sorts of interaction. There are purely social interactions, there are quid-pro-quo interactions, and there are market interactions. Mixing those up causes embarrassment and insult. I wouldn't try to pay my mother-in-law ten bucks for cooking Christmas dinner, and I certainly wouldn't try to pay her ten cents. If a waiter suggests I try the raspberry tart, I won't get away with offering to bake him some cookies next week in compensation; if an office mate suggests I have a slice of her birthday cake, I'll be insulted if she brings me a bill for it. If I spend an hour helping my friend move apartments and he thanks me, I'm fine; we're friends helping each other out. If he pays me two bucks, I'm insulted; he's canceled the social nature of the interaction and instead simply bought my labor for a fraction of its going rate. I'm up two bucks but down a friend. Ancapspergers, not particularly understanding any sort of interaction more complicated than buying a cheeseburger at Wendy's, assume that all interactions are a form of market transaction, and set pricing accordingly. Normal humans get offended by a penny shaving, because it cancels the social nature of the interaction and turns it into a market transaction--and then informs the recipient that his contribution to the transaction was of negligible value.
Announcing MiniTip, the free, reddit-native Bitcoin tipping service!
Hi everyone, I'm Cobos, the creator of MiniTip, a brand new free Bitcoin tipping service whose only interface is reddit.
I've been a lurker for a little while and I thought recently that with all this BU Core drama going around ruining everyone's mood, why not be productive and make something that could lighten our moods and bring us all together. So for the last little while I've been working on this I just finished developing it (for now, assuming it works as intended). I created it because ChangeTip shut down a few months ago and I wanted to revive the concept of Bitcoin tipping on reddit, since it can be quite fun, brings people together, and brings a lot of exposure to Bitcoin as well. In addition to this, I also wanted to improve on what we had previously, and so MiniTip was born. The service is currently in its infancy, so please use with caution, at entirely your own risk, and make sure you only deposit small amounts if you choose to use it. I take no responsibility for any losses incurred as a result of use of the service. Once again, this is very much still brand new and a work in progress so I'd honestly advise, for now, just to be a receiver of tips and let others do the sending. Also please make sure to PM me at CobosBfb or make a post on MiniTip if you find any bugs or have suggestions for improvement. MiniTip is a completely native-to-reddit service that allows you to do things like tip people whose content you like in Bitcoin by replying to their posts/comments, or top up and withdraw your balance. The only interface you need is reddit comments and reddit PMs, no third party website visits or account creations required. The best part is that we have no internal ledgers for transactions, so your tips never leave the blockchain. It is almost entirely peer-to-peer, which, given Bitcoin's core philosophy of decentralized people power, I feel is quite fitting. So, how does it work? Well, there are two components to the service:
The currency we use is bits. One Bitcoin is equivalent to 1,000,000 bits. With Bitcoin transaction fees rising, we wanted to strike a good balance between being able to tip people conveniently and the time it takes for a transaction to confirm. As such, we have decided on a flat miner's fee of 100 bits (~$0.10) for the transaction to be broadcast on the blockchain. Though in the current Bitcoin climate this is a bit low, we feel that this strikes a good balance for small tips here and there that are by no means time-sensitive. To tip people, all you have to do is reply to a comment or a post that you liked, with your reply containing MiniTip along with an amount anywhere in your comment, and they will be PM'd automatically with instructions on how to claim their tip (even if they have never used MiniTip before). For example:
Wow that really made me think... MiniTip 500 bits
There are four commands currently, and you can use these by simply PMing MiniTip with the command of your choice in the message body. balance To check what your current MiniTip account balance is, as well as instructions on how to top-up (deposit) or withdraw your balance. history To view all previous tips that either you have sent or others have sent to you. [address] Enter your Bitcoin address along with nothing else inside the PM body to set your own personal Bitcoin address as the default address that tips are sent to. withdraw [For use after setting your personal address] To withdraw funds from your MiniTip account into your personal address. Feel free to ask any questions you may have. Also, to celebrate the launch of MiniTip, I'm doing a small Bitcoin trivia giveaway of 10,000 bits (~$10) to the first person that comments on this post that has figured out the meaning of my username. I'll check back later today or early tomorrow to see if anyone got it. Here's a hint: It's related to something/someone not far from home... Good luck and happy tipping!
I currently setup 20 bitcoin nodes i plan to get another 10 next week. The project goal is 100 nodes to different providers/places until christmas and maintain them for as long as possible providing stability and decentralization. I am currently working on a docker version (both core and xt) for ease migration and failover. Current nodes: 220.127.116.11 18.104.22.168 22.214.171.124 126.96.36.199 188.8.131.52 184.108.40.206 220.127.116.11 18.104.22.168 22.214.171.124 126.96.36.199 188.8.131.52 184.108.40.206 220.127.116.11 18.104.22.168 22.214.171.124 126.96.36.199 188.8.131.52 184.108.40.206 220.127.116.11 18.104.22.168 You can check them https://bitnodes.21.co/ These nodes are not used for mining There is no profit from maintaining this nodes Help maintain this project: 13QM9SmwHPWtVvWAAUof681GTG9r8AaBvX
Sooo SegWit is done, the moon is literally within reach, and Roger Ver has cancelled lift off so he can throw a last minute temper tantrum.
WHYYYYY? SegWit should be at 95% right now. This is non-sense. Big blocks is a shitty idea. We all considered it 1 year ago, and decided against it. Did anyone send Roger the memo? XT died, Classic died, and now BU barely has any support. The market doesn't give a shit about big blocks, nor full blocks.. We've been in full rally mode for the last year and a half, breaking new volume highs, all awhile bouncing off the block size limit. However, people are practically crying about 15 cent fees, at the same time the price is near 2 year highs! What gives? All the tools for overcoming the primary sticking points of bitcoin are about to be widely available. Need a high transaction rate? Lightning networks -- Great for decentralized exchanges, Changetip replacement, coinjoin, digital asset markets, gaming/gambing arcades, etc . Want to expedite your on-chain payment? Use RBF or CPFP to jump the spam. Worried about fungibility and being tracked? HI COINBASE! Use Coinjoin Tired of ~10 minute confirmations? Lock some coin into LN and spend it instantly. SegWit is ready, wallets are being upgraded, applications are being prototyped, lightning networks are flickering, only piece that's missing, is the miners support. They'll come around once they see the community demanding it. All exchanges, wallets and businesses that rely on large transaction processing, gain a lot by using SegWit transactions, so it's only a matter of time before everyone is ready, and the ball is sitting in the miners court. The next 6 months are going to be exciting. Can you imagine what a LN tipping app will be like? We'll literally be able to throw satoshis at each other, instantly without a trusted 3rd party. It's like @changetip but on steroids. The perfect replacement. Colu looks amazing too. Trustless Asset exchanges. No more Bitfinex hacks! And of course RSK. The Etheruem killer. Happy Thanksgiving /bitcoin!
Riskware.Miner Symptoms of a Trojan.BitCoinMiner Infection As Trojan.BitCoinMiner's do not display a window and silently run in the background, many people do not even know that they are infected. bitcoin exchange ChangeTip: 2013 US - San Francisco, California micropayments acquired by Airbnb: Circle: 2013 US - Boston, Massachusetts wallet provider CloudHashing: 2013 UK - London cloud mining coin co: 2014 US - New York, New York payment service provider Coinbase: 2012 US - San Francisco, California wallet provider, bitcoin exchange Coincheck: 2014 Japan - Tokyo bitcoin/ether exchange ... Bitcoin, received by ChangeTip on behalf of donors, would be sent to one of three charities. ChangeTip, as of May 11, has received 958 donations that … Upup.exe BitCoin Miner. This malware has the one and only purpose to use the CPU and GPU resources of your computer via it’s fake Upup.exe process, which it runs as a trusted process in the background of your computer via your Windows Task Manager. The malware also aims to modify the Windows Registry Sub-keys and keys in order to automatically run, even if you stop the process and the real ... Bitcoin miner Layer1 is turning that dream into reality — having figured out how to make money even when its machines are turned off. Layer1 is a cryptocurrency startup backed by the likes of ...
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