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Saturday, 23 February 2019
Markets Update: Altcoins Gain on BTC This article was originally posted on The Bitcoin News - a trusted site covering numerous topics related to Bitcoin since 2012. The recent bounce in [...]
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multithreaded (lock free) programming is fun. Results! A full-history validation and UTXO build on my test machine took under 3 hours of all Bitcoin Cash history from 2009 till today.
Tokens on BCH: Electron Cash SLP Edition v3.4.5 is available for Windows, Mac & Linux
🚀 Download it here:
https://electroncash.org/index.html#slp
v3.4.5 Updates include:
- Added optional auto-update-notification feature (user must opt-out). This is a notification for new releases only, not an automatic software update.
- Disabled 'Sweep' of private keys -- We will re-enable this in a future release once the logic for sweeping SLP tokens has been added.
- Disabled Hardware Wallet Support -- HW wallets are currently incompatible with SLP due to vendor firmware limitations.
- Added note about BIP38 keys on sweep dialog
- Fixed bug in Bitcoin Files download dialog with off-chain files
- Ported many bug fixes from mainline Electron Cash
Github repo:
[link] [comments]
source https://www.reddit.com/r/btc/comments/atw0qt/tokens_on_bch_electron_cash_slp_edition_v345_is/
At $50, you would have to make 100,000 *free* LN transactions to recoup the cost of using BTC instead of BCH. 27 year payback!
Median fees for BCH are $0.0005. If BTC become popular again we'll see fees get back to $59. A person would have to make 10 transactions a day for 27 years before they'll finally start realizing some benefit from using LN.
The design intent for BTC is to have high fees for on chain transactions.
[link] [comments]
source https://www.reddit.com/r/btc/comments/atw9mw/at_50_you_would_have_to_make_100000_free_ln/
I've just started accepting BTC as payment for my wellbeing business. Today is huge!
Hey, I've just started accepting BTC as a form of payment for my wellbeing business. I'm really keen to find out how easily it works. Does anyone want to try it out?
[link] [comments]
OKEx Lists XRP and Bitcoin Cash (BCH) on its Customer-to-Customer Market This article was originally posted on Ethereum World News - an independent news provider covereing Ethereum, Bitcoin, Ripple, Litecoin dApps, start-off ICO’s and the whole Blockchain [...]
This article was originally posted on Ethereum World News - an independent news provider covereing Ethereum, Bitcoin, Ripple, Litecoin dApps, start-off ICO’s and the whole Blockchain [...]
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Derivatives Giant Fidelity Investments Receives and Passes on the Lightning Torch This article was originally posted on Cointelegraph - an independent publication covering cryptocurrency, the blockchain, decentralized applications, the internet of finance and the next gen [...]
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In the Daily: Token Delistings, Paybear Is Savvy, Revolut and Hackers This article was originally posted on The Bitcoin News - a trusted site covering numerous topics related to Bitcoin since 2012. In this edition of [...]
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Blockchain Company CasperLabs Appoints Ethereum Researcher Vlad Zamfir as Lead Architect This article was originally posted on Cointelegraph - an independent publication covering cryptocurrency, the blockchain, decentralized applications, the internet of finance and the next gen [...]
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Canadian Banks Wary of QuadrigaCX Assets’ Origins, Cite Money Laundering Concerns This article was originally posted on Cointelegraph - an independent publication covering cryptocurrency, the blockchain, decentralized applications, the internet of finance and the next gen [...]
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Once Bitcoin core truly fails, why would Bitcoin cash take its place?
A lot of people here seem to be under the assumption that there is an either/or relationship between bitcoin core/bitcoin cash. The prophesied flippening is probably the best example of this.
A flippening might happen with hashingpower, because the same asics run bitcoin core and bitcoin cash. But I think more likely we will see a real crypto winter if bitcoin core crashes. Most of the asics will be turned of because the cost of electricity won't motivate the mining and miners will have a hard time getting credits. Remember when bitcoin core goes down it usually brings all alt-coins down with it, so we would probably see a lot of value dissapear, even if bitcoin cores market cap has been decreasing over time.
A lot has happened since satoshis paper was published. Challenges, like scaling, ploitics and privacy, that were not apparent before has been shown and a lot of new innovation has happened in the space. More will come in the future. I believe more mature protocols will have advantages over any fork of bitcoin after a crypto winter. They don't have negative branding that bitcoin will have gotten by then and they are not burdened by technical legacy. CMV!
[link] [comments]
source https://www.reddit.com/r/btc/comments/atuuli/once_bitcoin_core_truly_fails_why_would_bitcoin/
Facebook Ends “Free” Onavo VPN Service Over Data Harvesting Allegations This article was originally posted on The Merkel - with a dedicated cryptocurrency news section and also a variety of educational articles relating to Bitcoin, [...]
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How to Pay Employees With Bitcoin in 2019 This article was originally posted on The Bitcoin News - a trusted site covering numerous topics related to Bitcoin since 2012. If employers want to [...]
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Thailand Greenlights Japanese Exchange to Operate 4 Crypto Businesses This article was originally posted on The Bitcoin News - a trusted site covering numerous topics related to Bitcoin since 2012. The Thai government has [...]
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Why the Samsung S10 Has Opened the Doors to Infinite Crypto Possibilities on Smartphones This article was originally posted on Ethereum World News - an independent news provider covereing Ethereum, Bitcoin, Ripple, Litecoin dApps, start-off ICO’s and the whole Blockchain [...]
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Do blocks still hold max 1MB of raw data, but the data has become more efficient allowing many more transactions to fit in a 1MB block, than just 2 years ago?
Is this basically correct? Blocks are still 1Mb but segwit and batching, bech32 improvments increase data efficiency allowing many more transactions to fit within a 1MB block....increasing the # of transactions per block (some call this increasing the block weight), while keeping the block size at 1MB.
Basically the same size blocks hold data far more efficiently than before..
Is that right?
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Ontology Price Notes Another 15% Gain on the Road to $1 This article was originally posted on The Merkel - with a dedicated cryptocurrency news section and also a variety of educational articles relating to Bitcoin, [...]
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Electroneum Price Bucks Bearish Trend Following GSMA Announcement This article was originally posted on The Merkel - with a dedicated cryptocurrency news section and also a variety of educational articles relating to Bitcoin, [...]
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ZCash Company is Now the Electric Coin Company to Prevent Confusion This article was originally posted on Ethereum World News - an independent news provider covereing Ethereum, Bitcoin, Ripple, Litecoin dApps, start-off ICO’s and the whole Blockchain [...]
This article was originally posted on Ethereum World News - an independent news provider covereing Ethereum, Bitcoin, Ripple, Litecoin dApps, start-off ICO’s and the whole Blockchain [...]
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Big pool CashShuffle test this weekend. Anyone that wants to try out shuffling their coins with electron-cash, now is the time! Got download your compatible client and get shuffling! https://ift.tt/2C4pzbh
New Sydney Bitcoin Cash Meetup
Hi all, The old bitcoin cash meetup in Sydney turned into bitcoin SV meetup so I'm trying to create a new bitcoin cash meetup.
If anyone is interested in the Sydney Australia area join our meet up :D
Check out Sydney Bitcoin Cash Meetup http://meetu.ps/c/4g4xj/GsSZL/d
[link] [comments]
source https://www.reddit.com/r/btc/comments/atuahc/new_sydney_bitcoin_cash_meetup/
What does "Automatic Replay Protection" mean?
"Automatic Replay Protection
When the median time past [2] of the most recent 11 blocks (MTP-11) is less than UNIX timestamp 1573819200 (Nov 2019 upgrade) Bitcoin Cash full nodes MUST enforce the following rule:
forkid [1] to be equal to 0. When the median time past [1] of the most recent 11 blocks (MTP-11) is greater than or equal to UNIX timestamp 1573819200 (Nov 2019 upgrade) Bitcoin Cash full nodes implementing the May 2019 consensus rules SHOULD enforce the following change:
Update forkid [1] to be equal to 0xFF0002. ForkIDs beginning with 0xFF will be reserved for future protocol upgrades. This particular consensus rule MUST NOT be implemented by Bitcoin Cash wallet software. Wallets that follow the upgrade should not have to change anything."
https://github.com/bitcoincashorg/bitcoincash.org/blob/master/spec/2019-05-15-upgrade.md
[link] [comments]
source https://www.reddit.com/r/btc/comments/attqqy/what_does_automatic_replay_protection_mean/
IvanOnTech admits Lightning Network will need to become centralized
"Which basically means it is kind of centralized, but it has to be this way if we want mass adoption"
https://www.youtube.com/watch?v=ARx8UVfvG2o&feature=youtu.be&t=806
[link] [comments]
source https://www.reddit.com/r/btc/comments/atr4gc/ivanontech_admits_lightning_network_will_need_to/
LN routing isn't just unsolved, it is unsolvable.
In LN each channel is a multisignature address with some funds on them. A payment on LN is executed by one of the parties to this address signing a transaction sending the funds of the address to the refund addresses of each channel participant. By setting the amount of the funds, it expresses a balance (how much of the channel belongs to whom). Channel balances are intentionally private, the messages for updating these balances (the signed but not broadcast transactions) are only seen by each partner of a channel. If the message is countersigned and broadcast, it closes the LN channel.
All channels are therefore registered on the blockchain, the topology of the network is known. However, the channel balances are not known.
Routing a payment along a path (and not just between two parties) is accomplished with a bit of clever cryptography that ensures nobody can steal from anybody. However, if the chosen path has not enough capacity to satisfy the payment, the payment has failed. is stuck, for several hours until it times out. (apparently LN solves stuck payments on capacity, somehow).
The sender of a payment has to select a path. This has to be done based on insufficient information (just the topology of the network). But a crucial part, the channel balances, are unknown. So no path along which a payment is attempted, can be guaranteed to work.
As the LN network grows (let's assume in some fashion of a decentralized network), paths grow longer. The longer the paths get, the higher the chances that one of any of the channels along the path has insufficient balance to satisfy the payment.
It is impossible to create any sort of routing and keep channel balances private at the same time. In order to arrive at a feasible route, channel balances have to be discoverable. But in order for privacy (as promised by LN) to be possible, channel balances have to remain private.
[link] [comments]
source https://www.reddit.com/r/btc/comments/atlysd/ln_routing_isnt_just_unsolved_it_is_unsolvable/
Electron Cash 3.3.6 available for Windows, Mac & Linux
3.3.6 Changes:
- Support for op_return_raw= URI parameter to 'bitcoincash:' URIs. This paremeter is for raw hex to be used as the OP_RETURN payload (0x6a will always be prefixed to this raw hex.) (markblundeberg)
- Testnet wallets were using the wrong bip32 key headers. They SHOULD accept & generate tpub/tprv on testnet but instead the keys generated were xpub/xprv. This was not to spec and has been fixed but, it may mean you will need to regenerate your testnet wallets form mnemonic seed. :/ (cculianu)
- Added "Check for updates..." mechanism which is enabled by default (check is done once per hour). See Preferences -> General to disable auto check. Or Help -> "Check for updates..." for manual checking. (cculianu)
- Added "Dark" theme to UI. See Preferences -> General (cculianu)
- Fixed incompatibility bug where generated QR images were uppercase-only BITCOINCASH: which caused problems with some buggy wallet implementations. We switched back to generating 'bitcoincash:' (mixed-case) URIs, which is more compatible. (cculianu)
- Added "Export contacts" facility to UI so you can export all your contacts to a file. (Strangely, we had "Import contacts", but no export!) (cculianu)
- Added "Wallet -> Rebuild history" to Qt GUI. Allows users to re-synch entire wallet from server, on demand. (commit: a72b2a72, cculianu)
- Request fee estimate from ElectrumX/ElectronX server every 20 minutes (cculianu)
- Performance improvements for wallets with huge numbers of tx's (cculianu)
- Trezor bugfix (SomberNight)
- Append HMAC to Bitbox messages (TheCharlatan)
- Android fixes (mhsmith)
- Various internal bugfixes and code refactoring (cculianu, ecdsa, SomberNight)
- servers.json updated (torusJKL)
- Fixed a compatibility issue with Qt 5.12 (SomberNight, cculianu)
Only download from: https://electroncash.org
GitHub Repository: https://www.github.com/Electron-Cash/Electron-Cash
(iOS and Android versions will be out soon).
[link] [comments]
source https://www.reddit.com/r/btc/comments/atn15n/electron_cash_336_available_for_windows_mac_linux/
Anyone in the Rogue Valley interested in doing a Crypto Meetup?
A few coworkers/friends and I are wanting to do a cryptocurrency meetup in the Rogue Valley. I'd like to see if there's any Bitcoin Cash people interested in attending if we were to do one, or if anyone would like to help organize. Send me a PM if interested!
[link] [comments]
source https://www.reddit.com/r/btc/comments/atrpy8/anyone_in_the_rogue_valley_interested_in_doing_a/
BTC is a dinosaur that needs to die
Sent $8 USD , yeah 8 fucking dollars worth of Bitcoin to an external wallet today and the fee was $2 dollars.
I then sent $8 dollars of bchabc to an external wallet and.....I recieved $8 dollars worth!
The fees for Bitcoin are fucking ridiculous, yeah some currency of the future, good luck with that.
[link] [comments]
source https://www.reddit.com/r/btc/comments/atpfhd/btc_is_a_dinosaur_that_needs_to_die/
Showerthought: OF COURSE the head of twitter would promote something establishment friendly (LN). Can you really imagine him promoting peer to peer electronic cash?
World aint ready for dis shit. Discuss.
[link] [comments]
source https://www.reddit.com/r/btc/comments/atjhty/showerthought_of_course_the_head_of_twitter_would/
Post For AntMiner Owners
Selling AntMiner Monitoring System - MITHRA 5.6
Functions:
There Are Some Of The Functions Which Can Be Executed By MITHRA
-
AntMiner Reboot Via One Click
-
Miner Groups System
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User Add/Remove System (With Privileges)
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Automatically Search AntMiners in IP Range And Add In Database (Automatically Detect Miner Type(Model))
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Error, High Temperature Detect
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AutoMail System When Error/Warning Detected
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AJAX Refresh System (Without Whole Page Reload)
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Authorization System
And Still Working On Some New Functions (Like Auto Reboot Function When AntMiner Hashrate Is Lower Than X)
Latest Version Is Mithra 5.6 (With More Comfortable Theme Than Old Versions)
SUPPORTED ANTMINERS: S9(S9j), L3+, L3, A3, Z9-Mini, T9(T9+), DR3, D3, S7
[link] [comments]
source https://www.reddit.com/r/btc/comments/atsev9/post_for_antminer_owners/
LN will end up as a network of tier 1 providers who own 90%+ of the liquidity
TL;DR: Lightning network isn't ready to scale up to route millions of nodes. Only way it can work is if all the liquidity is concentrated in a few tier 1 providers. Most of the transactions made will be within the subnet of the same provider (2 hops at max) which means source and destination is transparent to the tier 1 nodes.
Hi all, I'm generally a bystander in this subreddit as I don't necessarily share the bitcoin (BCH) maximalist philosophy that seems to be prevalent here. But I do like to browse from time to time in order to keep up to date with the technical progress being made by the devs working on BCH and trying to understand how everything works from a technical perspective.
Recently I have been looking at the work that's being done on LN and how there has been a sudden shift in marketing it not as a beta network that has unsolved issues like routing (which was the case for a long time) to a ready for use product using tactics such as the participation in LN Chain by Jack Dorsey and other mainstream figures. As an engineer it's clear to me that LN can't scale while keeping the distribution decentralized and I will try to explain the technical side of it a bit later. However seeing the recent marketing push and shift in narrative I think now the goal of decentralization has been thrown away by BTC devs and supporters which should be a bit concerning for all of us.
The technical issue of routing:
Routing in a decentralized peer to peer network is a well known computer science problem. Finding a route from any point A to point B is trivial if all the nodes and their connections are known in advance and if these connections and nodes stay static and unchanging. If those two conditions aren't met then the only way to find a route between two points is to use a variation of Dijkstra's algorithm. Problem here is that this algorithm depends on creating a 2 dimensional array (a.k.a table) of size NxN where N is the number of nodes in the network. This table has to be stored either in RAM or if using "out of core access" algorithms on the harddisk (though this second approach is quite slow). This entails that the node that is meant to calculate the route must know the updated state of all connections across the network and have them stored in memory for quick access. Anytime a change to this topology is made this map needs to be updated on each node. So far so good.
Limitations:
The problem comes when you try to scale the network past a certain point. For example if we assume that there are a million nodes on the LN network and that their connections are represented by a 256 bit integer (to represent balance between the channel) then the space requirements for the network will be 1000000 x 1000000 x 256 bits which equates to 29.1 Terabytes which have to be stored in RAM for quick access or in the harddisk for fast access. As explained before this space requirement is because the only algorithm that was discovered, in 30 years of routing related research by the giant companies running the internet who have invested billions of dollars finding alternatives, works by storing a table in memory and therefore has N^2 space requirements. Since LN works on the principle of route calculation by the originating user it means that each user has to run such a hefty system in order to participate. At most this can be reduced by half because you can store a single signed integer for a connection instead of two unsigned one. Looking at how low LN transaction fees are it's simply unfeasible to run such an operation though I assume this point can be remedied by simply increasing the transaction fees when enough people have onboarded. Now remember that the goal of BTC supporters was to create a network in which even a raspberry pi could participate. If nearly all the transactions are happening on LN which has such hefty requirements then I'm sure you can see that a raspberry pi won't be able to host a node at all. So this cuts down the number of people who are able to run a node to a very small amount. Which means that not only will most of the liquidity be owned by a few nodes due to how the pareto distribution works but also that nodes will have little choice other than to connect to these Tier 1 nodes. And since it's nearly impossible for a normal user to participate in LN the network will end up looking like a server-client system where any two users can be connected via maximum 3 hops (orign user -> Tier 1a -> Tier 1b -> end user). Since the Tier 1s are going to be run by known corporations it's not daft to conclude that they can figure out who is sending money to where despite the TOR like packaged encryption of transactions simply because all normal users are at most 1 hop away from a Tier 1 node.
For a long time I had thought that the devs were hoping that they would be able to figure out the holy grail of networking and solve the routing problem but given the recent push I think they might not want to solve it. And that vision of LN being marketed to everyone is just a lure to get everyone onboard banking 2.0.
If you have any technical rebuttals etc feel free to comment. I would love to be proven wrong here.
[link] [comments]
source https://www.reddit.com/r/btc/comments/atj9x8/ln_will_end_up_as_a_network_of_tier_1_providers/
Thoughts on Antminer S15 - 28TH Bitcoin Miner
What are your thoughts on the S15? I know ROI is basically forever at this point, but do you think that if we enter a bull market any time soon that it will be profitable? I'm looking at mining more as an expensive hobby than an investment, but I also hope to get close to breaking even eventually.
[link] [comments]
source https://www.reddit.com/r/btc/comments/atooiy/thoughts_on_antminer_s15_28th_bitcoin_miner/
All these threads slagging off Lightning are missing the point
Lightning could be great, BTC’s problem is not LN but the 1mb block limit that will never be allowed to change. They have conflated immutability with resistance to protocol upgrades. It doesn't matter how good L2 is if L1 cannot scale.
[link] [comments]
source https://www.reddit.com/r/btc/comments/atnjrf/all_these_threads_slagging_off_lightning_are/
Shout out to @RichardBranson who is helping raise funds for Venezuelan's. We are also trying to aid the people of Venezuela through the use of Bitcoin as cash to help them escape economic crisis & give them better means to transfer and use money. #VenezuelaAid #VenezuelaAidLive
HODL crypto but want to have an actual investment strategy?
Here's a review of a neat free app Shrimpy.io:
[link] [comments]
source https://www.reddit.com/r/btc/comments/attgab/hodl_crypto_but_want_to_have_an_actual_investment/
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