# Bitcoin (BTC) Halving History With Charts & Dates - Coinmama

• Bitcoin (BTC) Halving History With Charts & Dates - Coinmama
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##### Dive Into Tendermint Consensus Protocol (I)

This article is written by the CoinEx Chain lab. CoinEx Chain is the world’s first public chain exclusively designed for DEX, and will also include a Smart Chain supporting smart contracts and a Privacy Chain protecting users’ privacy.
longcpp @ 20200618
This is Part 1 of the serialized articles aimed to explain the Tendermint consensus protocol in detail.
Part 1. Preliminary of the consensus protocol: security model and PBFT protocol
Part 2. Tendermint consensus protocol illustrated: two-phase voting protocol and the locking and unlocking mechanism
Part 3. Weighted round-robin proposer selection algorithm used in Tendermint project
Any consensus agreement that is ultimately reached is the General Agreement, that is, the majority opinion. The consensus protocol on which the blockchain system operates is no exception. As a distributed system, the blockchain system aims to maintain the validity of the system. Intuitively, the validity of the blockchain system has two meanings: firstly, there is no ambiguity, and secondly, it can process requests to update its status. The former corresponds to the safety requirements of distributed systems, while the latter to the requirements of liveness. The validity of distributed systems is mainly maintained by consensus protocols, considering the multiple nodes and network communication involved in such systems may be unstable, which has brought huge challenges to the design of consensus protocols.

## The semi-synchronous network model and Byzantine fault tolerance

Researchers of distributed systems characterize these problems that may occur in nodes and network communications using node failure models and network models. The fail-stop failure in node failure models refers to the situation where the node itself stops running due to configuration errors or other reasons, thus unable to go on with the consensus protocol. This type of failure will not cause side effects on other parts of the distributed system except that the node itself stops running. However, for such distributed systems as the public blockchain, when designing a consensus protocol, we still need to consider the evildoing intended by nodes besides their failure. These incidents are all included in the Byzantine Failure model, which covers all unexpected situations that may occur on the node, for example, passive downtime failures and any deviation intended by the nodes from the consensus protocol. For a better explanation, downtime failures refer to nodes’ passive running halt, and the Byzantine failure to any arbitrary deviation of nodes from the consensus protocol.
Compared with the node failure model which can be roughly divided into the passive and active models, the modeling of network communication is more difficult. The network itself suffers problems of instability and communication delay. Moreover, since all network communication is ultimately completed by the node which may have a downtime failure or a Byzantine failure in itself, it is usually difficult to define whether such failure arises from the node or the network itself when a node does not receive another node's network message. Although the network communication may be affected by many factors, the researchers found that the network model can be classified by the communication delay. For example, the node may fail to send data packages due to the fail-stop failure, and as a result, the corresponding communication delay is unknown and can be any value. According to the concept of communication delay, the network communication model can be divided into the following three categories:
• The synchronous network model: There is a fixed, known upper bound of delay $\Delta$ in network communication. Under this model, the maximum delay of network communication between two nodes in the network is $\Delta$. Even if there is a malicious node, the communication delay arising therefrom does not exceed $\Delta$.
• The asynchronous network model: There is an unknown delay in network communication, with the upper bound of the delay known, but the message can still be successfully delivered in the end. Under this model, the network communication delay between two nodes in the network can be any possible value, that is, a malicious node, if any, can arbitrarily extend the communication delay.
• The semi-synchronous network model: Assume that there is a Global Stabilization Time (GST), before which it is an asynchronous network model and after which, a synchronous network model. In other words, there is a fixed, known upper bound of delay in network communication $\Delta$. A malicious node can delay the GST arbitrarily, and there will be no notification when no GST occurs. Under this model, the delay in the delivery of the message at the time $T$ is $\Delta + max(T, GST)$.
The synchronous network model is the most ideal network environment. Every message sent through the network can be received within a predictable time, but this model cannot reflect the real network communication situation. As in a real network, network failures are inevitable from time to time, causing the failure in the assumption of the synchronous network model. Yet the asynchronous network model goes to the other extreme and cannot reflect the real network situation either. Moreover, according to the FLP (Fischer-Lynch-Paterson) theorem, under this model if there is one node fails, no consensus protocol will reach consensus in a limited time. In contrast, the semi-synchronous network model can better describe the real-world network communication situation: network communication is usually synchronous or may return to normal after a short time. Such an experience must be no stranger to everyone: the web page, which usually gets loaded quite fast, opens slowly every now and then, and you need to try before you know the network is back to normal since there is usually no notification. The peer-to-peer (P2P) network communication, which is widely used in blockchain projects, also makes it possible for a node to send and receive information from multiple network channels. It is unrealistic to keep blocking the network information transmission of a node for a long time. Therefore, all the discussion below is under the semi-synchronous network model.
The design and selection of consensus protocols for public chain networks that allow nodes to dynamically join and leave need to consider possible Byzantine failures. Therefore, the consensus protocol of a public chain network is designed to guarantee the security and liveness of the network under the semi-synchronous network model on the premise of possible Byzantine failure. Researchers of distributed systems point out that to ensure the security and liveness of the system, the consensus protocol itself needs to meet three requirements:
• Validity: The value reached by honest nodes must be the value proposed by one of them
• Agreement: All honest nodes must reach consensus on the same value
• Termination: The honest nodes must eventually reach consensus on a certain value
Validity and agreement can guarantee the security of the distributed system, that is, the honest nodes will never reach a consensus on a random value, and once the consensus is reached, all honest nodes agree on this value. Termination guarantees the liveness of distributed systems. A distributed system unable to reach consensus is useless.

## The CAP theorem and Byzantine Generals Problem

In a semi-synchronous network, is it possible to design a Byzantine fault-tolerant consensus protocol that satisfies validity, agreement, and termination? How many Byzantine nodes can a system tolerance? The CAP theorem and Byzantine Generals Problem provide an answer for these two questions and have thus become the basic guidelines for the design of Byzantine fault-tolerant consensus protocols.
Lamport, Shostak, and Pease abstracted the design of the consensus mechanism in the distributed system in 1982 as the Byzantine Generals Problem, which refers to such a situation as described below: several generals each lead the army to fight in the war, and their troops are stationed in different places. The generals must formulate a unified action plan for the victory. However, since the camps are far away from each other, they can only communicate with each other through the communication soldiers, or, in other words, they cannot appear on the same occasion at the same time to reach a consensus. Unfortunately, among the generals, there is a traitor or two who intend to undermine the unified actions of the loyal generals by sending the wrong information, and the communication soldiers cannot send the message to the destination by themselves. It is assumed that each communication soldier can prove the information he has brought comes from a certain general, just as in the case of a real BFT consensus protocol, each node has its public and private keys to establish an encrypted communication channel for each other to ensure that its messages will not be tampered with in the network communication, and the message receiver can also verify the sender of the message based thereon. As already mentioned, any consensus agreement ultimately reached represents the consensus of the majority. In the process of generals communicating with each other for an offensive or retreat, a general also makes decisions based on the majority opinion from the information collected by himself.
According to the research of Lamport et al, if there are 1/3 or more traitors in the node, the generals cannot reach a unified decision. For example, in the following figure, assume there are 3 generals and only 1 traitor. In the figure on the left, suppose that General C is the traitor, and A and B are loyal. If A wants to launch an attack and informs B and C of such intention, yet the traitor C sends a message to B, suggesting what he has received from A is a retreat. In this case, B can't decide as he doesn't know who the traitor is, and the information received is insufficient for him to decide. If A is a traitor, he can send different messages to B and C. Then C faithfully reports to B the information he received. At this moment as B receives conflicting information, he cannot make any decisions. In both cases, even if B had received consistent information, it would be impossible for him to spot the traitor between A and C. Therefore, it is obvious that in both situations shown in the figure below, the honest General B cannot make a choice.
According to this conclusion, when there are $n$ generals with at most $f$ traitors (n≤3f), the generals cannot reach a consensus if $n \leq 3f$; and with $n > 3f$, a consensus can be reached. This conclusion also suggests that when the number of Byzantine failures $f$ exceeds 1/3 of the total number of nodes $n$ in the system $f \ge n/3$ , no consensus will be reached on any consensus protocol among all honest nodes. Only when $f < n/3$, such condition is likely to happen, without loss of generality, and for the subsequent discussion on the consensus protocol, $n \ge 3f + 1$ by default.
The conclusion reached by Lamport et al. on the Byzantine Generals Problem draws a line between the possible and the impossible in the design of the Byzantine fault tolerance consensus protocol. Within the possible range, how will the consensus protocol be designed? Can both the security and liveness of distributed systems be fully guaranteed? Brewer provided the answer in his CAP theorem in 2000. It indicated that a distributed system requires the following three basic attributes, but any distributed system can only meet two of the three at the same time.
1. Consistency: When any node responds to the request, it must either provide the latest status information or provide no status information
2. Availability: Any node in the system must be able to continue reading and writing
3. Partition Tolerance: The system can tolerate the loss of any number of messages between two nodes and still function normally

https://preview.redd.it/1ozfwk7u7m851.png?width=1400&format=png&auto=webp&s=fdee6318de2cf1c021e636654766a7a0fe7b38b4
A distributed system aims to provide consistent services. Therefore, the consistency attribute requires that the two nodes in the system cannot provide conflicting status information or expired information, which can ensure the security of the distributed system. The availability attribute is to ensure that the system can continuously update its status and guarantee the availability of distributed systems. The partition tolerance attribute is related to the network communication delay, and, under the semi-synchronous network model, it can be the status before GST when the network is in an asynchronous status with an unknown delay in the network communication. In this condition, communicating nodes may not receive information from each other, and the network is thus considered to be in a partitioned status. Partition tolerance requires the distributed system to function normally even in network partitions.
The proof of the CAP theorem can be demonstrated with the following diagram. The curve represents the network partition, and each network has four nodes, distinguished by the numbers 1, 2, 3, and 4. The distributed system stores color information, and all the status information stored by all nodes is blue at first.
1. Partition tolerance and availability mean the loss of consistency: When node 1 receives a new request in the leftmost image, the status changes to red, the status transition information of node 1 is passed to node 3, and node 3 also updates the status information to red. However, since node 3 and node 4 did not receive the corresponding information due to the network partition, the status information is still blue. At this moment, if the status information is queried through node 2, the blue returned by node 2 is not the latest status of the system, thus losing consistency.
2. Partition tolerance and consistency mean the loss of availability: In the middle figure, the initial status information of all nodes is blue. When node 1 and node 3 update the status information to red, node 2 and node 4 maintain the outdated information as blue due to network partition. Also when querying status information through node 2, you need to first ask other nodes to make sure you’re in the latest status before returning status information as node 2 needs to follow consistency, but because of the network partition, node 2 cannot receive any information from node 1 or node 3. Then node 2 cannot determine whether it is in the latest status, so it chooses not to return any information, thus depriving the system of availability.
3. Consistency and availability mean the loss of the partition tolerance: In the right-most figure, the system does not have a network partition at first, and both status updates and queries can go smoothly. However, once a network partition occurs, it degenerates into one of the previous two conditions. It is thus proved that any distributed system cannot have consistency, availability, and partition tolerance all at the same time.

The discovery of the CAP theorem seems to declare that the aforementioned goals of the consensus protocol is impossible. However, if you’re careful enough, you may find from the above that those are all extreme cases, such as network partitions that cause the failure of information transmission, which could be rare, especially in P2P network. In the second case, the system rarely returns the same information with node 2, and the general practice is to query other nodes and return the latest status as believed after a while, regardless of whether it has received the request information of other nodes. Therefore, although the CAP theorem points out that any distributed system cannot satisfy the three attributes at the same time, it is not a binary choice, as the designer of the consensus protocol can weigh up all the three attributes according to the needs of the distributed system. However, as the communication delay is always involved in the distributed system, one always needs to choose between availability and consistency while ensuring a certain degree of partition tolerance. Specifically, in the second case, it is about the value that node 2 returns: a probably outdated value or no value. Returning the possibly outdated value may violate consistency but guarantees availability; yet returning no value deprives the system of availability but guarantees its consistency. Tendermint consensus protocol to be introduced is consistent in this trade-off. In other words, it will lose availability in some cases.
The genius of Satoshi Nakamoto is that with constraints of the CAP theorem, he managed to reach a reliable Byzantine consensus in a distributed network by combining PoW mechanism, Satoshi Nakamoto consensus, and economic incentives with appropriate parameter configuration. Whether Bitcoin's mechanism design solves the Byzantine Generals Problem has remained a dispute among academicians. Garay, Kiayias, and Leonardos analyzed the link between Bitcoin mechanism design and the Byzantine consensus in detail in their paper The Bitcoin Backbone Protocol: Analysis and Applications. In simple terms, the Satoshi Consensus is a probabilistic Byzantine fault-tolerant consensus protocol that depends on such conditions as the network communication environment and the proportion of malicious nodes' hashrate. When the proportion of malicious nodes’ hashrate does not exceed 1/2 in a good network communication environment, the Satoshi Consensus can reliably solve the Byzantine consensus problem in a distributed environment. However, when the environment turns bad, even with the proportion within 1/2, the Satoshi Consensus may still fail to reach a reliable conclusion on the Byzantine consensus problem. It is worth noting that the quality of the network environment is relative to Bitcoin's block interval. The 10-minute block generation interval of the Bitcoin can ensure that the system is in a good network communication environment in most cases, given the fact that the broadcast time of a block in the distributed network is usually just several seconds. In addition, economic incentives can motivate most nodes to actively comply with the agreement. It is thus considered that with the current Bitcoin network parameter configuration and mechanism design, the Bitcoin mechanism design has reliably solved the Byzantine Consensus problem in the current network environment.

## Practical Byzantine Fault Tolerance, PBFT

It is not an easy task to design the Byzantine fault-tolerant consensus protocol in a semi-synchronous network. The first practically usable Byzantine fault-tolerant consensus protocol is the Practical Byzantine Fault Tolerance (PBFT) designed by Castro and Liskov in 1999, the first of its kind with polynomial complexity. For a distributed system with $n$ nodes, the communication complexity is $O(n2$.) Castro and Liskov showed in the paper that by transforming centralized file system into a distributed one using the PBFT protocol, the overwall performance was only slowed down by 3%. In this section we will briefly introduce the PBFT protocol, paving the way for further detailed explanations of the Tendermint protocol and the improvements of the Tendermint protocol.
The PBFT protocol that includes $n=3f+1$ nodes can tolerate up to $f$ Byzantine nodes. In the original paper of PBFT, full connection is required among all the $n$ nodes, that is, any two of the n nodes must be connected. All the nodes of the network jointly maintain the system status through network communication. In the Bitcoin network, a node can participate in or exit the consensus process through hashrate mining at any time, which is managed by the administrator, and the PFBT protocol needs to determine all the participating nodes before the protocol starts. All nodes in the PBFT protocol are divided into two categories, master nodes, and slave nodes. There is only one master node at any time, and all nodes take turns to be the master node. All nodes run in a rotation process called View, in each of which the master node will be reelected. The master node selection algorithm in PBFT is very simple: all nodes become the master node in turn by the index number. In each view, all nodes try to reach a consensus on the system status. It is worth mentioning that in the PBFT protocol, each node has its own digital signature key pair. All sent messages (including request messages from the client) need to be signed to ensure the integrity of the message in the network and the traceability of the message itself. (You can determine who sent a message based on the digital signature).
The following figure shows the basic flow of the PBFT consensus protocol. Assume that the current view’s master node is node 0. Client C initiates a request to the master node 0. After the master node receives the request, it broadcasts the request to all slave nodes that process the request of client C and return the result to the client. After the client receives f+1 identical results from different nodes (based on the signature value), the result can be taken as the final result of the entire operation. Since the system can have at most f Byzantine nodes, at least one of the f+1 results received by the client comes from an honest node, and the security of the consensus protocol guarantees that all honest nodes will reach consensus on the same status. So, the feedback from 1 honest node is enough to confirm that the corresponding request has been processed by the system.

https://preview.redd.it/sz8so5ly7m851.png?width=1400&format=png&auto=webp&s=d472810e76bbc202e91a25ef29a51e109a576554
For the status synchronization of all honest nodes, the PBFT protocol has two constraints on each node: on one hand, all nodes must start from the same status, and on the other, the status transition of all nodes must be definite, that is, given the same status and request, the results after the operation must be the same. Under these two constraints, as long as the entire system agrees on the processing order of all transactions, the status of all honest nodes will be consistent. This is also the main purpose of the PBFT protocol: to reach a consensus on the order of transactions between all nodes, thereby ensuring the security of the entire distributed system. In terms of availability, the PBFT consensus protocol relies on a timeout mechanism to find anomalies in the consensus process and start the View Change protocol in time to try to reach a consensus again.
The figure above shows a simplified workflow of the PBFT protocol. Where C is the client, 0, 1, 2, and 3 represent 4 nodes respectively. Specifically, 0 is the master node of the current view, 1, 2, 3 are slave nodes, and node 3 is faulty. Under normal circumstances, the PBFT consensus protocol reaches consensus on the order of transactions between nodes through a three-phase protocol. These three phases are respectively: Pre-Prepare, Prepare, and Commit:
• The master node of the pre-preparation node is responsible for assigning the sequence number to the received client request, and broadcasting the message to the slave node. The message contains the hash value of the client request d, the sequence number of the current viewv, the sequence number n assigned by the master node to the request, and the signature information of the master nodesig. The scheme design of the PBFT protocol separates the request transmission from the request sequencing process, and the request transmission is not to be discussed here. The slave node that receives the message accepts the message after confirming the message is legitimate and enter preparation phase. The message in this step checks the basic signature, hash value, current view, and, most importantly, whether the master node has given the same sequence number to other request from the client in the current view.
• In preparation, the slave node broadcasts the message to all nodes (including itself), indicating that it assigns the sequence number n to the client request with the hash value d under the current view v, with its signaturesig as proof. The node receiving the message will check the correctness of the signature, the matching of the view sequence number, etc., and accept the legitimate message. When the PRE-PREPARE message about a client request (from the main node) received by a node matches with the PREPARE from 2f slave nodes, the system has agreed on the sequence number requested by the client in the current view. This means that 2f+1 nodes in the current view agree with the request sequence number. Since it contains information from at most fmalicious nodes, there are a total of f+1 honest nodes that have agreed with the allocation of the request sequence number. With f malicious nodes, there are a total of 2f+1 honest nodes, so f+1represents the majority of the honest nodes, which is the consensus of the majority mentioned before.
• After the node (including the master node and the slave node) receives a PRE-PREPARE message requested by the client and 2f PREPARE messages, the message is broadcast across the network and enters the submission phase. This message is used to indicate that the node has observed that the whole network has reached a consensus on the sequence number allocation of the request message from the client. When the node receives 2f+1 COMMIT messages, there are at least f+1 honest nodes, that is, most of the honest nodes have observed that the entire network has reached consensus on the arrangement of sequence numbers of the request message from the client. The node can process the client request and return the execution result to the client at this moment.
Roughly speaking, in the pre-preparation phase, the master node assigns a sequence number to all new client requests. During preparation, all nodes reach consensus on the client request sequence number in this view, while in submission the consistency of the request sequence number of the client in different views is to be guaranteed. In addition, the design of the PBFT protocol itself does not require the request message to be submitted by the assigned sequence number, but out of order. That can improve the efficiency of the implementation of the consensus protocol. Yet, the messages are still processed by the sequence number assigned by the consensus protocol for the consistency of the distributed system.
In the three-phase protocol execution of the PBFT protocol, in addition to maintaining the status information of the distributed system, the node itself also needs to log all kinds of consensus information it receives. The gradual accumulation of logs will consume considerable system resources. Therefore, the PBFT protocol additionally defines checkpoints to help the node deal with garbage collection. You can set a checkpoint every 100 or 1000 sequence numbers according to the request sequence number. After the client request at the checkpoint is executed, the node broadcasts messages throughout the network, indicating that after the node executes the client request with sequence number n, the hash value of the system status is d, and it is vouched by its own signature sig. After 2f+1 matching CHECKPOINT messages (one of which can come from the node itself) are received, most of the honest nodes in the entire network have reached a consensus on the system status after the execution of the client request with the sequence numbern, and then you can clear all relevant log records of client requests with the sequence number less than n. The node needs to save these2f+1 CHECKPOINTmessages as proof of the legitimate status at this moment, and the corresponding checkpoint is called a stable checkpoint.
The three-phase protocol of the PBFT protocol can ensure the consistency of the processing order of the client request, and the checkpoint mechanism is set to help nodes perform garbage collection and further ensures the status consistency of the distributed system, both of which can guarantee the security of the distributed system aforementioned. How is the availability of the distributed system guaranteed? In the semi-synchronous network model, a timeout mechanism is usually introduced, which is related to delays in the network environment. It is assumed that the network delay has a known upper bound after GST. In such condition, an initial value is usually set according to the network condition of the system deployed. In case of a timeout event, besides the corresponding processing flow triggered, additional mechanisms will be activated to readjust the waiting time. For example, an algorithm like TCP's exponential back off can be adopted to adjust the waiting time after a timeout event.
To ensure the availability of the system in the PBFT protocol, a timeout mechanism is also introduced. In addition, due to the potential the Byzantine failure in the master node itself, the PBFT protocol also needs to ensure the security and availability of the system in this case. When the Byzantine failure occurs in the master node, for example, when the slave node does not receive the PRE-PREPARE message or the PRE-PREPARE message sent by the master node from the master node within the time window and is thus determined to be illegitimate, the slave node can broadcast to the entire network, indicating that the node requests to switch to the new view with sequence number v+1. n indicates the request sequence number corresponding to the latest stable checkpoint local to the node, and C is to prove the stable checkpoint 2f+1 legitimate CHECKPOINT messages as aforementioned. After the latest stable checkpoint and before initiating the VIEWCHANGE message, the system may have reached a consensus on the sequence numbers of some request messages in the previous view. To ensure the consistency of these request sequence numbers to be switched in the view, the VIEWCHANGE message needs to carry this kind of the information to the new view, which is also the meaning of the P field in the message. P contains all the client request messages collected at the node with a request sequence number greater than n and the proof that a consensus has been reached on the sequence number in the node: the legitimate PRE-PREPARE message of the request and 2f matching PREPARE messages. When the master node in view v+1 collects 2f+1 VIEWCHANGE messages, it can broadcast the NEW-VIEW message and take the entire system into a new view. For the security of the system in combination with the three-phase protocol of the PBFT protocol, the construction rules of the NEW-VIEW information are designed in a quite complicated way. You can refer to the original paper of PBFT for more details.

VIEWCHANGE contains a lot of information. For example, C contains 2f+1 signature information, P contains several signature sets, and each set has 2f+1 signature. At least 2f+1 nodes need to send a VIEWCHANGE message before prompting the system to enter the next new view, and that means, in addition to the complex logic of constructing the information of VIEWCHANGE and NEW-VIEW, the communication complexity of the view conversion protocol is $O(n2$.) Such complexity also limits the PBFT protocol to support only a few nodes, and when there are 100 nodes, it is usually too complex to practically deploy PBFT. It is worth noting that in some materials the communication complexity of the PBFT protocol is inappropriately attributed to the full connection between n nodes. By changing the fully connected network topology to the P2P network topology based on distributed hash tables commonly used in blockchain projects, high communication complexity caused by full connection can be conveniently solved, yet still, it is difficult to improve the communication complexity during the view conversion process. In recent years, researchers have proposed to reduce the amount of communication in this step by adopting aggregate signature scheme. With this technology, 2f+1 signature information can be compressed into one, thereby reducing the communication volume during view change.

##### [US-KY] [H] Meme and symbol custom keys [W] Paypal / Bitcoin

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• dried up / I don't need it spongebob tab/backslash key
• Boba Fett 1u (leftmost)
• Boba Fett mod size
• The space bar is gone... Deal with it.
• Fire Exit 2u numpad 0 key
• Both halves of Longcat have found a caring home (numpad enter and plus 2u keys)
EDIT: In your payment: PLEASE USE THE GRID COORDINATES (row,column) OR NUMBER on the image or describe the key exactly, or your payment will be sent back!
I designed a WASD keyboards custom layout for my 40%, and had a bunch of keys I didn't use, so I figured I'd put weird stuff on them and see how they came out. Surprisingly, they came out great, and now I can't just throw them away when they could be bringing dankness to hearts and minds all over the world!
FIRST TO SEND MONEY WITH THE KEYS SPECIFIED GETS THE KEYS! I'm sorry, I can't "hold" a key while you decide if you're going to get it, or get your payment in order. I will update the reddit post ASAP, and reject any payments for keys already sold. Bitcoin returns will be sent to any address you specify, you MUST sign messages with the key you used to send the payment!
IF A KEY YOU LIKE IS ALREADY SOLD: send me a PM. I'm printing more of these, and I can try to get the design you want on the keys you want. Honestly not sure if the trademarked symbols will make it through the next review process...
CONUS SHIPPING INCLUDED
• 1 key for $7 • 2 keys for$10
• 6 keys for $20 PAYMENT: Paypal to [email protected], BTC to 1NnZK8SArbJ8gff6HU6uKuKvskpQ9jc2Mv submitted by unusedredditname to mechmarket [link] [comments] ##### Skyrus - a dedicated lightning node, feel free to open some mainnet payment channels! Lightning software is just beginning but mainnet progress has come quite far already! I wanted to introduce my node which I'm excited about and will continually be working on. Skyrus is a dedicated node to provide liquidity and other lightning payment tools. Now with a mainnet wallet released, you can begin establishing real payment channels to nodes on the network such as mine. Here is a simple guide to begin creating channels to Skyrus via eclair: First you will need to fund the wallet like any other bitcoin wallet. 1. Swipe to the leftmost tab in Eclair ("Your Bitcoin Address") 2. There you can see the bitcoin address and can fund it in all of the familiar ways Once a payment is confirmed, now you can begin creating channels: 1. Visit skyrus.net to find the node URI 2. In Eclair, swipe to the rightmost tab ("Lightning Channels") 3. Press "Scan a Node URI" and scan the QR code on the site. 4. Type in the channel capacity you would like to fund with. (All lightning software is new and you should be careful not to fund too much!!) Once the channel funding transaction is confirmed on the blockchain, you can begin making micropayments. Channels you open with Skyrus will be long lasting as the node will be in service indefinitely and I work hard to keep it smooth sailing. This means you will be able to make very cheap payments even in times of high bitcoin onchain fees. Of course feel free to ask me for any other questions regarding the node or other lightning network questions in general. :D submitted by skyrushub to Bitcoin [link] [comments] ##### [uncensored-r/CryptoCurrency] I made a cryptocurrency portfolio tracker excel that I wanted to share The following post by WhenShitHitsTheDan is being replicated because some comments within the post(but not the post itself) have been openly removed. The original post can be found(in censored form) at this link: np.reddit.com/ CryptoCurrency/comments/7yrecv The original post's content was as follows: I wanted to share an excel spreadsheet that I created. I use it to record all of my trades. It imports the current price of each coin from coinmarketcap.com to quickly summarize your total portfolio value - it updates every few minutes! Download it here: https://drive.google.com/file/d/1vtsqqopwUBqTiZJqh82zD2tQaUKHNj7K/view It's a great way to look back on the coins you bought, at the prices you bought them, and how much money you've made from each coin. Also, by keeping track of how much USD (or other currency) that you put into crypto, and by keeping track of how much you pull out, you can easily calculate your capital gains (or losses) for your next year's tax forms. Instructions for use: 1. There are three columns for each coin. a. In the left column, enter the amount of the coin you just bought or sold (e.g. -0.12, .55). This will total in the bottom row. b. In the center column, you can record the price of the coin when you bought it (this is optional, as I know some people trade pairs and would rather record the, for example, the cost of ETH using BTC). c. The right column, you can multiply the value in the left column and the value in the middle column to get the total amount of money you put into that transaction. 2. For each transaction… a. For USD to coin, I would enter the amount of USD that I spent or withdrew in the column on the left, and fill out the info for the coin in that coin's column. b. For coin to coin, I would fill out the info for each coin in the same row. For example, if I bought ETH with BTC, I would record the amount of BTC I spent (as a negative value in the leftmost column of the BTC section) and I would record the amount of ETH I bought (as a positive value in the leftmost column of the ETH section). TO IMPORT CMC DATA: MAC 1. Create a microsoft word, enter the text 'https://coinmarketcap.com/' 2. Save the file as a .txt file type, except end the name with .iqy (you may need to rename the file with .iqy so excel will recognize it. 3. In Excel, go to the CMC data tab, click the first cell in the top left, and then click Data -> Run External Data -> Run Web Query and then click on the iqy file you created. 4. You'll see a huge chart with the top 100 coins and their prices. To the right of that is a grid I created, using a formula that will capture the price of your coin of interest, independent of what rank the coin has (this is a workaround from writing a script to fetch individual coin data). You can easily add new coins of interest by adding a new column. For more detailed step by step instructions, see https://3qdigital.com/experience/web-queries-mac-yes-can-heres If you really enjoy using the spreadsheet and want to share the love, feel free to send me a tip! I'm currently unemployed and every little bit helps keep my family going, thank you. BCH Bitcoin Cash Address: 1E9tqnEcrf4pw67BWuLUUXbJL4aT8pDYRG ETH Ethereum Address: 0xfF47F898236941006885054E9AB4B52496F6D18d BTC Bitcoin Address: 1QKGtYKSR1ybBZEhXU3xdcmAcVrtTcQWKu submitted by censorship_notifier to noncensored_bitcoin [link] [comments] ##### A beginner's guide to Bitcoin exchanges - orders and charts (OC) Beginner’s Guide to Bitcoin Exchanges Many investors who are new to cryptocurrencies are also new to exchanges in general. In this guide, we’ll walk through market orders, limit orders, stop orders, and different charts that you’ll see on Bitcoin exchanges. Reading the Order Book In order to learn how an exchange works, we need to learn how to read the order book. coinbase, gdax, exchanges, bitcoin, limit order, market order, maker, taker, stop loss, breakouts, technical analysis, fees, bittrex, bitcoin, ether, altcoins GDAX Order Book This is a snapshot of the GDAX order book. The order book is made up of limit orders that traders have placed. If you place a limit order, you are a “maker”. Your order helps to build the order book and does not execute instantly. If you want your order to automatically execute, you will place a market order. When you place a market order, you are a “taker”. Your market order will execute at the best price, getting matched with a limit order and removing it from the book. For the convenience of placing a market order, you will pay a 0.25% fee on GDAX. Limit orders have no fees. GDAX does not charge fees for limit “maker” orders because they help build the book, add liquidity, and contribute to a more stable market. The leftmost column of the order book, “Market Size”, simply indicates how many BTC can be bought or sold at a given price. coinbase, gdax, exchanges, bitcoin, limit order, market order, maker, taker, stop loss, breakouts, technical analysis, fees, bittrex, bitcoin, ether, altcoins GDAX Market Size Say you want to place a market buy order for 10 BTC. Your order would automatically execute, and you’d start to buy out the posted limit sell orders (in orange). First, your order would buy the 0.2649 BTC limit sell order @$11,364.24, then the 0.05 BTC limit sell order @ $11,364.24 and so on until you fill your order of 10 BTC. You may notice that all of the sell orders in this screen shot are for small quantities of Bitcoin. This means you would drive the price of Bitcoin up quite a bit if you placed a 10 BTC buy order. If fact, your 10 BTC buy order would “eat up” all of the orders shown on the screen shot, as they add up to 3.8 BTC. Your single order would drive the price from$11,364.24 to beyond $11,380. GDAX also includes a “My Size” column which conveniently shows any open orders you have on the order book. coinbase, gdax, exchanges, bitcoin, limit order, market order, maker, taker, stop loss, breakouts, technical analysis, fees, bittrex, bitcoin, ether, altcoins Your open orders are listed under “My Size” on the GDAX order book If you want to better visualize market size, you can look at the “Market Depth”. This chart visualizes all maker orders on the order book. This chart will directly tell you how many BTC you can buy or sell at a given price or for a given amount of USD. 4 GDAX Market Depth Chart The market depth chart shows the last traded price at the top ($11,221.81). If you hover your mouse over the chart, it will tell you how many BTC can be bought/sold for that price. In this example, if you placed a market buy for $1 million, you’d buy 91.7 BTC. You would move the price up to$11,268 (.4%) in the process.
Notice there are some steep sections, particularly on the sell side. These are called “sell walls”. These are large quantities of maker sell orders, usually at an “important” number. You’ll typically see large walls at $5,000,$10,000, etc. This gives the impression that a large volume of buy orders are needed to lift the price past that point. These walls can move at any time, however, as they are built up by maker orders that can be removed at any time before they execute.
Stop Orders A stop order is a market order that executes when a certain price is reached. If there is a large sell wall at $12,000, and you think the price of Bitcoin will rise substantially once it breaks though, you may want to consider a stop-buy at$12,000.01. If the price of Bitcoin never hits $12,000.01, your order will not execute. If the price does hit$12,000.01, your order will execute at the next best price. If there are other people with the same idea, there may be a lot of stop order buys queued for execution. The exchange knows how many stop orders are queued for execution, but you may not be able to see this.
Often, the book is very “thin” above the sell wall price. This means there are not many maker-limit sell orders on the book at $12,001,$12,002, $12,003, etc. So, when your stop buy gets triggered at$12,000.01, it may be sitting behind many more orders trying to execute at best price (market). If there aren’t many sell orders on the book, your stop buy may end up executing at a price other than $12,000.01. Your buy may end up executing at, say,$12,075. There is often a large price movement in short order after sell walls or buy walls are taken out.
coinbase, gdax, exchanges, bitcoin, limit order, market order, maker, taker, stop loss, breakouts, technical analysis, fees, bittrex, bitcoin, ether, altcoins Sell wall at $11,260 on GDAX While not a perfect example, the above screenshot shows a sell wall at$11,260. To move the price from $11,260 to$11,260.01, 50+ BTC need to be bought. If another 50 BTC are bought, however, the price will move well past $11,290 and off of this chart. Limit-Taker Orders We’ve established the following: Maker orders: build the order book and do not execute instantly Taker orders: instantly execute at best price Market orders: instantly execute at best price It turns out that limit orders can serve both maker and taker functions. A limit-maker order builds the book and places an order at an exact price, as discussed above. Until recently, this was the only type of limit order allowed on GDAX. coinbase, gdax, exchanges, bitcoin, limit order, market order, maker, taker, stop loss, breakouts, technical analysis, fees, bittrex, bitcoin, ether, altcoins “Post Only” Limit order on GDAX Maker-limit orders are sometimes known as “post only”. During times of crazy volatility, some exchanges even use a “post only” mode where market orders are not allowed until the book is built. This happened shortly after Bitcoin Cash (BCH) was launched on Coinbase. Recently, GDAX added limit orders that “allow taker”. Depending on the price you set, the order can execute instantly, like a market order, and you will pay a fee. How is this different than a market order? Well, you will never pay more than the price that you’ve entered. coinbase, gdax, exchanges, bitcoin, limit order, market order, maker, taker, stop loss, breakouts, technical analysis, fees, bittrex, bitcoin, ether, altcoins Limit taker order on GDAX In this example, you want to buy 150 BTC for a price$13K or under. If any Bitcoin are for sale below $13K, you want to auto execute. However, you do not want to buy any Bitcoin priced about$13K. Here, you want a taker-limit order. When executed your order would consume all of the sells shown on this screen. What would happen if there were no sell orders between $11,186.87 and$13,000? Well, if you placed a market order, you would buy 15 BTC regardless of the price. With a limit-taker order, you’d only buy the 40 or so BTC listed for sale on this book, and your remaining 110 BTC buy would be placed as a limit-maker order @ $13,000. This example may seem far-fetched, but some order books are very thin, especially for small cap (market capitalization) altcoins. For this reason, exchanges like Bittrex often do not allow market orders, but instead use the hybrid limit-taker order, which they simply refer to as a limit order. Here’s an example sell book for “Breakout Stake” (BRX) on a popular altcoin exchange, Bittrex. 8 BRX Order book on GDAX If you bought just 1 BTC worth of BRX, you’d eat up all of the sell orders shown here and drive the price from .000139 BTC to .000142 BTC, over 2%. If you were careless and placed a market order without checking the sell book, you could substantially drive up the price of the coin. If you want your order to execute automatically, but want to limit how much you drive the price, you can enter a buy order at .0001395 BTC. If your order doesn’t fully execute, the remainder will stand as an open order on the book at .0001395 BTC. There are no stop orders on Bittrex. Some altcoin exchanges may allow for stop orders, but not many do. This is because there is already low liquidity on these exchanges/coins and they want to encourage traders to build the books. Risks and Opportunities for Stop Orders Stop orders may seem like guaranteed protection against downside, but they can also be dangerous. These types of orders can also provide opportunities, however. coinbase, gdax, exchanges, bitcoin, limit order, market order, maker, taker, stop loss, breakouts, technical analysis, fees, bittrex, bitcoin, ether, altcoins Stop order on GDAX On GDAX, by default you do not have the option to set a limit price on your stop orders. Instead, your order executes instantly at market when your stop price is reached. There is no price guarantee for your sell order, which could be very dangerous in a flash crash. Flash crashes occur when large BTC holders “whales” sell a lot of BTC all at once through a market/taker order. The end up eating up the entire buy book and trigger other people’s stop loss sells along the way. This can drive the price as low as$.01 momentarily.
If you have stop sells in during a flash crash, you may end up selling your BTC for next to nothing. Alternatively, if you place low limit buy orders you may pick up some cheap BTC during a flash crash. For this reason, it makes sense to keep some standing limit buy orders on BTC and alt coins in order to benefit from a flash crash. For example, put in an order for 100 BTC @ $.10. If the price of Bitcoin were to crash to a penny, you’d be able to pick up 100 BTC for$10. Think this is crazy, well it happens. GDAX and other exchanges are working hard to build books/keep servers up so that flash crashes do not happen in the future. However, flash crashes can and will still happen, as evidenced by even very liquid markets like the NASDAQ.
Stop Limit Orders Perhaps in response to flash-crash liquidations, GDAX has added a stop-limit function. To access this trade, click “advanced” under the stop order menu.
coinbase, gdax, exchanges, bitcoin, limit order, market order, maker, taker, stop loss, breakouts, technical analysis, fees, bittrex, bitcoin, ether, altcoins Advanced stop-limit order on GDAX
For this order, if the price of Bitcoin hits $9,999 your sell would execute at market, unless there are no standing buy orders above$9,000. In this case, your sell would be placed as a \$9,000 limit-maker sell order.
Conclusion This has been a quick introduction to cryptocurrency exchange functions. There are many more functions unique to certain exchanges. Looking for more information or trading tips? Contact Us to set up a one-on-one consultation.
https://bitconsult.co/beginners-guide-to-bitcoin-exchanges/

##### elliptic curve secp256k1 vulnerability?

to preface I have never used bitcoin so i don't know if this is a true vulnerability but in doing some background on bitcoin cryptology I saw something that seemed a little odd. On their protocol specification wiki they say that in their scripts they provide hexidecimal decompressed x,y coordinates (though these are really r,s values) for the signature of a transaction encoded in DER. They also specify that the curve used is the secp256k1 ECDSA curve and they go so far as to post the secp256k1 parameters p,a,b,G,n, and h on one of their wiki pages for the curve (though these can be found on the EJBCA site too). On the wikipedia page for the Elliptic curve DSA it describes calculating (r,s) as follows
1. Calculate e=HASH(m), where HASH is a cryptographic hash function, such as SHA-1 (in bitcoin sha256).
2. Let Z be the Ln leftmost bits of e, where Ln is the bit length of the group order n.
3. Select a random integer k from [1, n-1].
4. Calculate the curve point (x1,y1) = k *G (where G is the base-point).
5. Calculate r= x1 mod(n). If r=0, go back to step 3.
6. Calculate s= k-1(z+r(da)). If ,r=0 go back to step 3.
7. The signature is the pair (r,s).
since they provide the signature (r,s) values for a transaction as well as the value of n, couldn't one theoretically convert the (r,s) from DER to ASN.1 then compute the k scalar by iteratively scaling the x-coordinate of G with a variable c such that c*G (mod n)=x, c++ until x is equal to r? If k is obtained the value of da can be algebraically determined and y1 could be determined, which from my understanding is the user's private key... i think? I know that n is a large number and this would require a bit of brute force but it feels like someone with a reasonable number theory background could find some paths to get around that issue. I also feel like this is too big of a loophole for bitcoin to not realize or anybody for that matter and so I'd love to know what I'm misunderstanding.

##### Why is BIP101's version number 0x20000007 ?

In Gavin's first proposal of BIP101 it was 0x20000004, then he changed it to 0x20000007 for allegedly better compatibility to legacy Bitcoin. If I understand right, the rightmost byte is
0x01=00000001 (v1), or 0x02=00000010 (v2), or 0x03=00000011 (v3) for legacy Bitcoin.
I assume, Gavin just flipped the next bit (which was never used before) and kept the other two LSBs untouched, therefore 0x07=00000111.
But what is the "2" then in the leftmost byte of the version number?! Does legacy bitcoin also use that field, and for which purpose?!? What does it mean? Any reference?
And finally, what about the two center bytes, which are always 0x0000. Have they ever been different from 0x0000?
Generally, I assume that the 32 bit for the version number is largely over-dimensioned, we have only used 2 bits for version numbers 1, 2 and 3 up to now as far as I know, and for future hard-forks one could also cycle the version number around (e.g. modulo 16 or modulo 256) because version numbers from the very past have long been extinct and can be re-used at some later point in time. So, many of these 32 bits in the version number could be used for other purposes? (maybe the "2" serves such other purpose already? But which?).