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submitted by /u/Block11_Blockchain [link] [comments] |
Saturday, 21 December 2019
Iranian President proposes that Muslim countries create cryptocurrencies to reduce dependence on the dollar! Malaysia: Yes
According to Cointelegraph today, the Iranian president has proposed the creation of a cryptocurrency suitable for Muslims to reduce dependence on the US dollar as one of many ways to counter the dominance of the US economy. Malaysian Prime Minister Mahathir Mohamad endorsed the initiative.
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5 Reasons Australian merchants should immediately switch to Bitcoin Cash
- Bitcoin Cash is the safest. No Bitcoin Cash merchant in Australia has even been double-spent (including BCH merchants that still haven't migrated from the insecure TravelByBit platform).
- Bitcoin Cash is the dominant cryptocurrency in Australian retail, with the largest network effect. The next largest retail cryptocurrency does less than 2.5% of Bitcoin Cash physical retail sales.
- Merchants adopting Bitcoin Cash enjoy the largest income and don't incur the training, support, and confusion associated with a basket of low traffic coins.
- Bitcoin Cash allows Merchants to field an unmatched Payment Experience due to it's simplicity, reliability and dominant speed advantage.
- Bitcoin Cash is reliable, is virtually fee, and is very very fast. But best of all, Bitcoin Cash is just plain fun.
Come join the future of global money today.
[link] [comments]
source https://www.reddit.com/r/btc/comments/edj6sa/5_reasons_australian_merchants_should_immediately/
![[FREE] Biggest Bitcoin Online Conference going live tomorrow 2pm CET](https://b.thumbs.redditmedia.com/nSfHohsfSV6IvNNeRegFn6dUFCV1cVT3-lE0Jgvse9U.jpg "[FREE] Biggest Bitcoin Online Conference going live tomorrow 2pm CET")
Friday, 20 December 2019
Why Central Bank Digital Currencies dont matter.
Cryptocurrency means two things:
Cryptographically Secure
Cryptographically Scarce
These two functions allow bitcoin to operate in a global manner without having to trust any one country or poitical organization like the IMF. If your coin is neither of these things then it is not a cryptocurrency.
Central Bank Digital Currencies are neither of these things. CBDC's are centralized, they rely on trust for security and they rely on authority for supply, just like fiat paper money. CBDC's do nothing for global efficiencies as they still operate within strictly controlled borders. They are no different from what we already have today in the form of digital entries in a commercial banks books.
Bitcoins magic is not that it's digital, it's that it is globally secure and globally scarce without having to trust in a central authority to achieve it allowing the whole world to use one efficient and fair monetary protocol.
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Is this happening behind closed doors already?!?
I've thought for some time that if a country wanted to compete with or become a super power it would work if they adopted Bitcoin as the national currency and dumped their assets into it. It's "sounder" money than USD or any other fiat for that matter, cheaper to use and in the long run would be a net positive. Plus being the early adopter they would reap the benefits from price action.
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LNbits, simple Python free and open-source lightning-network wallet
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https://github.com/arcbtc/lnbits LNbits is a very simple server that sits on top of a funding source, and can be used as:
The wallet can run on top of any lightning-network funding source such as LND, lntxbot, paywall, opennode, etc. This first BETA release runs on top of lntxbot, other releases coming soon, although if you are impatient, it could be ported to other funding sources relatively easily. Contributors very welcome :) [link] [comments] |
Is there a way to connect to your electrum cash wallet through RPC?
Hi, I am trying to implement the bitcoind interface using node and I was hoping to just use electron cash as the wallet rather than write my own wallet.
Any tips are appreciated
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source https://www.reddit.com/r/btc/comments/ed1igs/is_there_a_way_to_connect_to_your_electrum_cash/
Thursday, 19 December 2019
TravelByBit CEO thinks "Bitcoin Cash...not suitable for retail point-of-sale transactions" despite 93% BCH Australian marketshare
Despite being the closest thing mankind has come to an ideal money, and despite completing more retail point-of-sale trade in Australia in a single month than BTC/LN and all other cryptos combined achieve in an entire year, this "switched on" CEO thinks Bitcoin Cash is not suitable for retail PoS transactions.
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source https://www.reddit.com/r/btc/comments/eco396/travelbybit_ceo_thinks_bitcoin_cashnot_suitable/
TravelByBit pulling Bitcoin Cash support is meaningless - all but 5 TXs/month have long since migrated already
The vast majority of Bitcoin Cash merchants in Australia support just the Bitcoin Cash cryptocurrency where, on its own, its shining features are ripping marketshare from even the best fiat systems.
As anyone who has had the misfortune of trying to spend Bitcoin BCH on the TravelByBit platform will tell you, their payment experience (PX) leaves plenty to be desired. Lumping BCH in with a basket of other currencies destroys the awesome BCH speed advantage, the source of much of its competitiveness.
It's welcome news that TravelByBit ceases the last remaining Bitcoin Cash operations on their platform, they too would have migrated away in any case.
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source https://www.reddit.com/r/btc/comments/ecok3x/travelbybit_pulling_bitcoin_cash_support_is/
Sweeping BCH private key into mobile app
Does anyone know of a mobile wallet app that will allow me to sweep a cold storage paper wallet without a QR code?? I've been trying to figure out how to do it with the Bitcoin.com wallet app and there doesn't seem to be any way to type in the key. Mycellium wallet allows you to type in the public key but I'm working with BCH right now.
I know you can do this with a QR code but it seems like a significant oversight to make the app so this is the only way to enter the private key.
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source https://www.reddit.com/r/btc/comments/ecnmwj/sweeping_bch_private_key_into_mobile_app/
Ledger nano s
Just got my first hardware wallet a ledger nano s and I’m super happy with it and so far I’ve managed to rack up .125 BTC not much 😂 but as a broke college student I feel pretty proud of myself! My goal is to get a full bitcoin!
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RBF was basically sabotage of the BTC network.
"We processed over 100,000 transactions with amounts from $5-2000/transaction with no double spends. Over $25m in sales and the first time we got a double spend attack was after RBF was introduced. " -- Vinny Lingham
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source https://www.reddit.com/r/btc/comments/ecn5s8/rbf_was_basically_sabotage_of_the_btc_network/
I will run an interview with CoinEx Exchange - Anything you want asked?
Lately launched an interview with McAfee https://fuk.io/exclusive-interview-with-john-mcafee/ now time for Coinex Exchange that has BCH as main pair vs other coins.
Anything you want to know from them or me to ask them ?
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source https://www.reddit.com/r/btc/comments/ecmpat/i_will_run_an_interview_with_coinex_exchange/
You want more perspective? DCA start date over/underwater
So looking at last 3 years (since people talk about 3 year periods being safe haven), if you started DCA within any of the following periods, you have been underwater (totaling 402 days)
[2017-09-28, 2017-12-13] and [2019-01-27, 2019-12-17], which leaves the following date ranges of DCA start position to be in the green (totaling 694 days)
[2016-12-17, 2017-09-27] and [2017-12-14, 2019-01-26]
Of course a big chunk of those 694 days are before 2017 ATH, so if we look from the all time high the days (i.e. less than 3 year period) you would be underwater if you started DCA for majority.
This is simulated with a $1 purchase every day from the start date (no fee calculation) and comparing the total Bitcoin obtained vs what you can obtain with that total cash yesterday.
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Hi friend, I am live again on https://ift.tt/33SdHpK and https://ift.tt/31SmGHL with "Beats, Bible and Bitcoin". Come hang out or tune it using skype or google hangouts.
[FYI] "Other mining pools" >51% on BCH chain today... something needs to be done... I have an idea
Per coin.dance as of the time of this post, ~56% of today's blocks have been mined by "other mining pools".
I'm just gonna put it bluntly: this needs to stop being an issue. BCH has to do something to garner adoption, price increases, and in turn, distributed hashrate from known pools.
Now I know there are many, many people working hard to get BCH adopted in the money and payments space, but in my opinion, that space is just too competitive right now. ESPECIALLY right now, with The Fed in the U.S., and other central banks around the world. And the stock markets. Nobody is breaking their back to switch over to cryptocurrency from fiat or other investment vehicles. Of course, committed, and principled people, like myself and many others I have seen in this sub, have mostly or completely switched, from holding/using fiat/legacy investments, to holding/using crypto wherever and whenever it is feasible. But with the community and ecosystem we have, after 2+ years in BCH, it is still only 3% of the total Bitcoin hashrate. It would be ~4.5% but fuck Faketoshi and Calvin Ayre, the scumbags. We need a solid 10% total hashrate AT MINIMUM to be a long-term contender for the Bitcoin name.
I think the best path forward to increase adoption for BCH is to focus on SLP merchant-side infrastructure. One idea I have would be to replace business' rewards points with SLP-based tokens. Idk exactly what businesses have to do to maintain their own rewards points system, but I imagine it costs a lot and takes a lot of time. That overhead could be greatly reduced by using SLP to replace their entire rewards points back-end. What business doesn't wanna cut costs and simplify its infrastructure?
Plus, SLP would fit in perfectly with this scan-n-pay culture we've been brewing for the past 10-15 years or more. It's easy to understand ("it's like digital Chuck-E-Cheese tokens but you can buy real shit with it."), and not any functionally different than buying Starbucks with a smartphone, or paying for a washing machine cycle, and so on. Why not have a single app to hold and manage ALL rewards points/tokens?! :D
It's brilliant. Most of the people using SLP wouldn't even know they were using BCH (if using Vin Armani's post office protocol), but the demand for BCH would still increase; thus, number go up, and, hashrate go up. ;)
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source https://www.reddit.com/r/btc/comments/eclpay/fyi_other_mining_pools_51_on_bch_chain_today/
Understanding Fundamental Effects on Price
Another really huge issue with the btc community in general, and this reddit especially, is the lack of nuance on price. And again, an unwillingness to accept critique.
There are several scenario that can play out with price, but in some of those scenario, we may even see a huge price pump, while *still failing at adoption*. And I think that's an important distinction to make. Just because wallstreet pumps the price for reasons that only concern the rich and institutions, does not equate to adoption. It does not equate to us making vital changes for the betterment of the network and adoption. It just doesn't.
Wallstreet is perfectly content with hyper regulated bitcoin that is totally irrelevant for the common man and unadopted and unused, they are perfectly fine treating bitcoin as a glorified sovereign bond and international form of settlement. That is how the institutions and rich see it. They see it much like they see bonds and gold, and are willing to treat it as such. This is even a positive in some regard because it brings monetary transparency into the banking and wealth sector.
But it does not address cypherpunk, emancipatory politics, or global poverty, or individual sovereignty. And it is acheived largely through extreme centralization and hyper invasive surveillance. Be clear, they can pump the price to 250,000 while still controlling everything through Patriot Act, AMLD5, NDAA, and FACTA and the banking secrecy Act. All of which Bitcoin is entirely ideologically incompatible with. But that's just fine, because the rich already comply with those laws (mostly). They already price in the regulatory and compliance costs of an institution, of an offshore tax haven.
That's just it. IT's fine for them to do this to btc, because the laws are designed for them. They create the barriers only they can afford to play in, while hurting it for everyone else.
The average common man in the world, and any developing country should be able to easily acquire btc without kyc. Period. It shouldn't be a surveillance state. I recently listened to Peter McCormack interview a darkmarket guy and I completely agree. We need to engineer away from on ramps, we need to engineer away from payment gates that involve fiat, and we need to all use coinjoiners and mixing technology. It needs to be the standard. There are so many reasons to use coinjoining for non illegality. Privacy is a fundamental need.
And internet 4.0 for finance is contingent on a lot of technology. These aren't really coins either. It is backbone technology to better facilitate bitcoin. But we have to have layer two solutions. It doesn't matter whether it's RSK or plasma, or both, we just need the secondary layer to pay for distributed processing, server function, matching, liquidity, file storage, atomic swaps, network gas, etc. DeFi network value cannot be conflated with the supply and demand of btc itself, we don't need permissioned side chains, we need permissionless open source side chains and interoperatibilty platforms that will protect the privacy of bitcoin and facilitate it on decentralized exchanges. On exchanges that cannot be taken down. To do that we need staggering amounts of technology innovation and thoroughput, that will require people to host nodes, mine and stake these ancillary services to protect the backbone of bitcoin commerce.
Anyone who is into toxic maximalism. Let it be known that you are willfully promoting corporate bitcoin supported by massive centralized players who will treat it as a bond or settlement statist instrument. You're promoting the support of bitcoin on an entirely captured regulatory framework and an entirely captured unsafe unsecure regular internet controlled by the clearnet and amazon and google and heavily surveiled. .Org just privatize for fuck sakes. And any DNS can be compromised, any .com site can be siezed. This normal backbone is entirely inappropriate for bitcoin. Centralized exchanges and payment apps like cash app are entirely inappropriate for bitcoin.
You should be able to visit a IFPS site, connect a hardware wallet to any DEX or DAPP and immediately trade with the same speed and liquidity of binance and bitmex. The user interface should be simple and approachable to the layman. We need a liquidity interbank controlled by SPV server and dark node. Payment incentives for people to host liquidity to the network on plasma, radon, cosmos, uniswap, eventually all the DEX will simply be connected by interchain liquidity.
Crypto has to be extremely unfettered. The regulators and wallstreet have strangled it and will continue to do so. Some people have forgotten that this is a battle for financial sovereignty and protection against wealth confiscation. Only when they realize that they can't control us, will they be forced to sit down at the legislative table and negotiate with common people. You have to bring your government to heel.
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BSV Miners not acting rationally. Link to actual Binance Research Report
Here is a link to the actual report, Bitcoin Mining Allocation, by Binance Research. https://research.binance.com/analysis/bitcoin-mining-allocation. Among their key takeaways is:
However, none of these reasons have fully explained the persistence of Bitcoin SV’s sustained difficulty with its significantly lowest mining profitability in the first half of 2019. As a result, this finding posits whether mining activity might be irrational, possibly owing to political factors or other non-economically driven forces that are beyond the scope of this report.
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source https://www.reddit.com/r/btc/comments/ecl21r/bsv_miners_not_acting_rationally_link_to_actual/
How to get started?
Hello everyone, Well, i've been interested in bitcoin for a while, and started looking for pages, that write about bitcoin, but am not sure if these informations are 100% trustworthy or not.
First of all, i don't know if this is the right place to post this or ain't, so am sorry if not.
So, I am a hungarian, 17yr old guy, who's good in maths and have been interested in computers stuff in his whole life. First time when i heard about bitcoin, i was like, i don't know what this is, but i got to get started with it. Right now i'm working in mcdonald's but i'm going to leave my job at the end of this december. So i started looking for jobs which can be done at home, and by as much as i know about bitcoin, this stuff can be a type of job, that i want.
What i see about this bitcoin thing right now is that, there's a wide scale of possibilities. I mean mining, marketing, money type changing(? Like USD -> BTC and backwards) and so on.
So by the end my question is that, how should i get started with it? Is there anyone, who could answer my incredible questions with teaching character? What pages should i read? Where can i get the freshiest informations about bitcoin?
I would be grateful if you could help me by upvoting this post, so more people would see it.
[link] [comments]
Wednesday, 18 December 2019
SLP token privacy
Hey all, was reading an article on slp tokens being like bearer shares as if its privacy was any different than any other token standard that have been around for over half a decade
Am I missing anything about its default privacy?
[link] [comments]
source https://www.reddit.com/r/btc/comments/eca5os/slp_token_privacy/
when no use case is meeting no usability tulips are born
this is a reply to this post r/Bitcoin/comments/ebxv04/another_perspective/
due to being censored / banned at that sub ^^
~ snip ~
oogally233 points · 13 hours ago📷📷📷📷
It’s easy to get caught up in price and get discouraged. If you’re feeling this way, consider a few points:
Is bitcoin working as intended? Here are the current stats.
- 557s average block time.
- 1Sat/byte transactions are being confirmed
- >50% segwit usage
- Hashrate: 100Eh/s
Do we still have developer interest? Very much so .
- Lightning network – 34K (public) channels, 859BTC (public) capacity.
- Taproot
- Miniscript
- Schnorr
- Statechains
How’s the rest of the ecosystem? We now have decentralized and trust-minimized exchange options. Coinjoin pools ...
~ snip ~
... though I am nit sø God at coding reddit documents, I will repeat the sniped quote from u/oogally with my personal view as a replacement / comment, and I will end up in a fair table comparing the two major implementations of "BitCoin"
~ modifications ref. "BTC" ~
It’s easy to get caught up in price and get discouraged. If you’re feeling this way, consider a few points:
Is bitcoin working as intended? Here are the current stats.
- 557s average block time. | BLOCKS are FULL !
- 1Sat/byte transactions are being confirmed | at 14 days ?
- >50% segwit usage | LøL to chain of signatures ^^
- Hashrate: 100Eh/s | that is a LøT
- 0-conf got removed by intention
- RBF has been implemented by intention
Do we still have developer interest? Very much so [payed by a single which source ... ?] .
- Lightning network – 34K (public) channels, 859BTC (public) capacity. | LøL, in 18 months® ?
- Taproot | whatever that is, excuse my limited knowledge ;)
- Miniscript | what can it do ?
- Schnorr | nøt at BTC (yet ?)
- Statechains | driven by Gov. ?
- Tether over Liquid as a final goal
How’s the rest of the ecosystem? We now have decentralized and trust-minimized exchange options. Coinjoin pools ...
... i will not comment the idea of Coinjoin to censor transactions in this threat here - make a new one ! ^^
~ modifications ref. "BTC" ~
I try to build a table here:
| BTC | BCH | |
|---|---|---|
| hashrate | 100 EX | 3% |
| price | 6666 | 3% |
| shills | 1000 | 0.3% |
| attack vector | 5 | 100 |
| 0-conf | killed | still works |
| RBF | implemented | it hurts 0-conf, so a NoGo |
| segwit | pulled off signatures | following Satoshi |
| scripts | miniscript | cash script |
| Schnorr Signatures | still talking | implemented |
| Token on Chain | even Onmi (Tether has left) | thousands of SLP tokens, some even with business usecase and dividend payments in BCH |
| statechains | sound like a FakeToshi thing | a free decentralized uncensorable global P2P payment network, secured by POW |
... excuse my typos, please.
open for a high level discussion,
真
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source https://www.reddit.com/r/btc/comments/ec9qil/when_no_use_case_is_meeting_no_usability_tulips/
Crypto for the Holidays
For Christmas I usually mail my niece a card and $20. This year I sent a text explaining how to get a BTC address using Trust Wallet mobile app - just because it’s super easy. (she’s 16 yrs old, for context) She had heard of Bitcoin but didn’t really know anything about it. Then I sent her a little BTC. Her reply: “OMG, Cool!!!!! Thanks, This is awesome” Her mom (my sister) said she’s now learning about Bitcoin and is all excited about it. A small win for crypto! I guess they don’t teach this stuff in schools yet.
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Bitcoin Cash (BCH) is here to stay: Sydney Ifergan
A lot of people who feel that Bitcoin Cash is taking away the spotlight from BTC don’t understand one basic fact- BCH was forked out to relive the original principles of Bitcoin.
Read the full article here: https://thecurrencyanalytics.com/9009/bitcoin-cash-bch-is-here-to-stay-sydney-ifergan/
[link] [comments]
source https://www.reddit.com/r/btc/comments/ec9h3i/bitcoin_cash_bch_is_here_to_stay_sydney_ifergan/
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