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submitted by /u/hosannabrand [link] [comments] |
Saturday, 10 April 2021
This is why I'm a Bitcoin Maximalist.
I’m a Bitcoin maximalist (learned the hard way: Losing a lot messing with altcoins and side projects/startups), and believe the Bitcoin base protocol will eventually absorb all or most other coins, integrating their unique and useful features as second layer apps (like already happened with ‘Lightning Network’ app, making many altcoins obsolete regarding speed and efficiency of transactions). Same will happen with ‘privacy’ coins, ‘smart-contracts’ platforms, ‘DeFi’ projects, ICO’s startups, IOT protocols, etc.
Just like the Internet protocol (TCP/IP) did with all other competing protocols in the 90’s. Some of them were ‘better’ than TCP/IP in many ways and were promising protocols, but by then TCP/IP had cemented its predominance, and that is based on this: The network effect. There are many examples of the same situation at the beginnings of many other (later) widespread adopted technologies and products that were better in some ways but lacked that networking power.
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How long should we leave EC on to have all the coins fused?
I'm wondering how long should we leave CashFusion running in order to fuse as much coins as possible?
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source https://www.reddit.com/r/btc/comments/mnza58/how_long_should_we_leave_ec_on_to_have_all_the/
Daily Discussion, April 10, 2021
Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Join us in the r/Bitcoin Chatroom!
Please check the previous discussion thread for unanswered questions.
[link] [comments]
Mobile Wallets
Hello everyone, I am still quite new to the crypto space as it stands all my Bitcoin cash is sitting on the exchange I bought it from, I've been reading about different wallets and such but I'm still... Unconvinced. You guys probably have tested quite a bit of them so I was wondering if you guys could share some of the pros and cons or point me to the right direction at least.
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source https://www.reddit.com/r/btc/comments/mny91l/mobile_wallets/
A message from Julian Assange’s brother to Bitcoiners
Gabriel Shipton ( Julian Assange’s brother ) wrote an article for Bitcoin Magazine. As a fan of both Bitcoin and its anti establishment brethren Wikileaks, I found this article a good insight into the current situation with Julian. Have gander if you are interested.
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Binance US has locked my account and for 2 months refuses to lift the restriction, let me trade, or withdraw my money. No customer. I feel like they are stealing my money. Pls help
I’m writing this as a request for the crypto community to please help. Any suggestions or ideas to this problem? I was locked out due to a chargeback which was confirmed by my bank to have NEVER OCCURED. My bank said that they have made they deposit before so it wouldn’t be charged back unless the funds were not there and the funds definitely were there. Since then I have had 3 support tickets all unanswered but one in which I got an obviously canned response that did nothing to help me out. I am being punished for absolutely no reason and now it’s beginning to cost me money. I have also spoken to a couple of the binance Reddit mods with no help. One of them even banned me off the subreddit for “making false statements” when Every statement I made was true and he spent more time and effort into silencing me than helping me out. I don’t know what else to do but it’s making me very skeptical about the entire cryptocurrency market.
I also found a community of other people in the same exact boat at r/binanceusclassaction Binance US is part of the binance tree and the CEO is making daily teeets about how much money he’s making while ignoring the issues of his victims. Somebody please help. All we ask for is our money or coins back.
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Don't worry guys, the price will skyrocket early next week. Guaranteed.
How do I know? Easy. I'm expecting to receive some money and want to buy Bitcoin with it, but it won't be before end of next week. So with my luck, it's almost 100% guaranteed that the price will shoot up just a couple days before I can take my position.
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Question in regards to bandwidth
Recently had a debate in regards to lightning vs Bch on chain scaling, vs wrapped btc on ethereum, and I would like to have a open discussion about pretty much the only few options why some believe lightning or wrapped is better than bch. I’m by no means bias to any direction and would just like to point out pros and cons of each direction
So lightning advocates say for someone to not need custodial services you need to run your own node and open and close your own Channels. That sounds incredibly complicated for average people but let’s let them have that and say eventually it will get simplified for everyone because there’s massive money involved to do so.
They claim Bch is already dead in the water compared to lightning because of “block size” bandwidth and node costs. The node costs I was able to quickly address isn’t a major concern When you factor a node cost for core or Bch are both outside the cost of generally most humans on earth. So given that and the fact hardware keeps getting cheaper doesn’t justify the ever expanding storage requirement argument.
What did get me intrigued was from the networking aspect of block validation and passing larger and larger blocks will be highly inefficient due to global bottle necks in bandwidth and what not. I have a background in networking and can somewhat see what they mean hypothetically if say blocks bit 1gb but aren’t they also forgetting to rule out the ever dropping costs of bandwidth and growing throughput?
Now in regards to wrappedbtc that’s simple, people assume “transaction “ and leverage access will be obtained on other networks such as ethereum which to me makes some sense if everyone’s building these programs out in it. So yes that seems like a cool idea but not something that beats the actual use case of Bch. So it’ll serve it’s purpose but it’s not necessarily a competitor to me like some say “more wrapped btc lockup than in lightning “
So I guess what I’m trying to say is my most concerning point that has any weight to me was block size bandwidth issues so if someone can genuinely break that down as a non concern that would be great and a fun conversation to have.
I personally believe in current form Bch is quietly ahead but put down, but the lacking hash rate makes me worried that even if I’m right about Bch being superior it was supresses hard enough to not essentially matter. I don’t believe in custodial services , i understand lightning is mostly custodial and from what I understand the only real non custodial requires a full node and opening and closing Channels (can someone clarify that in more depth like let’s say it grows and you go to target then the gas station then the movies will I or an app need to open and close channels or fund them?) in current form it’s beyond comprehension for 99% of society no matter what anyone of tech background says. It’s not as Simple as scan a qr and be done with it no 2nd layer confusion (which may or may not become more simplistic but to me that will always = custodians which honestly most people probably never will care about at least not Americans )
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source https://www.reddit.com/r/btc/comments/mns8jd/question_in_regards_to_bandwidth/
I wish I bought 136 BTC at $219 per coin. Instead I only bought 1.
It’s easy to look back in retrospect and judge yourself.
But Lord Saylor said it best - you buy bitcoin at the price you deserve to buy bitcoin. This is not a direct quote but my paraphrase attempt.
But the bottom line is, be happy for what you have and don’t look back. I bought quite a few coins below $500. I could say to myself, self - you’re a goddam idiot for not buying 30k worth of coins at $219. But don’t do this to yourself.
It’s not too late to buy RIGHT NOW. just tap your screen a few times and “you’ve got bitcoin”.
Buy. And HODL. rinse and repeat.
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How is the transaction stored on every node?
I'm reading about bitcoins, one thing i dont understand is how is it practical to store the entire transaction data in each computer. I just checked blockchain.com where each tranaction is 300 bytes and there are approximately 40k btc tranactions in a day.
400k*300 bytes = 120 mega bytes and in the future its gonna grow a lot. ( 10 days, 1 giga byte ) ( 100 days, 10 giga byte ) ( 1 year, 30 giga byte )
so if i have bitcoins for an year, i need 30 gb just to be part of bitcoin network? and it's only gonna grow from here. is that how it works?
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10 minute block times so frustrating.
I wish we could update bch to have maybe 1 minute blocks. I know, "zero-conf is safe" and "avalanche will solve it".
But, I can't even count on both hands (and feet), the number of times I've been trying to do something with bitcoin/bitcoin cash, and I end up having to stop what I'm doing for 10,20,30+ minutes while I wait for a block to get mined (or more).
Whether it's depositing to an exchange, or trying to test some SLP development (as I'm doing now), it sucks.
It was 40 minutes between blocks just now, as I was waiting for a transaction to clear so I could have a tiny bit of BCH on an address so I could test minting an SLP NFT parent.
If we made blocks 10x easier (and 1/10th the reward), it would make the experience more than 10x better. Not to mention the fact you'd actually get more "security" faster (it's exponentially harder to mine 60 1 minute blocks in a row than it is to mine 6 10 minute blocks).
I know, what about orphan blocks? I'm sure 1 minute block times would be fine. But, we could always start slow and just go to 5 minute blocks (hell, or even 8 minute blocks!). Then when (surprise, surprise) it's fine, we can decide later to go even faster or not. Just like raising the block size... the sky will not fall!
Please?!
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source https://www.reddit.com/r/btc/comments/mnvlri/10_minute_block_times_so_frustrating/
I feel I have found this sub for a reason. I have intermediate knowledge of BTC technology and investment risk. This sub talks a lot about Bitcoin cash.... can someone explain.
I’m an trying to understand the difference. I imagine vets are as irritated as I get when watching the BITCOIN sub and see newbies as silly questions, but I need some help. What’s the difference and should I expand my portfolio and why?
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source https://www.reddit.com/r/btc/comments/mntam7/i_feel_i_have_found_this_sub_for_a_reason_i_have/
Friday, 9 April 2021
Claiming BSV after I spent my BCH
I had some BCH during the fork. However, recently I spent my BCH balance (made some purchases).
Can I still claim my BSV after i spent my BCH balance or when I sent my BCH my BSV was sent too?
I have access to the seed of the wallet that previously had my BCH, can I use it to claim the BSV or it is gone since I never claimed it?
Any help is appreciated. Thanks.
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source https://www.reddit.com/r/btc/comments/mnagp3/claiming_bsv_after_i_spent_my_bch/
A lot of people seem to have not configured their u/chaintip addresses, heh
I've been looking at this subreddit for a while, and I've been noticing a certain increase of people tipping via u/chaintip. However, I've also noticed a certain larger amount of people not setting up their u/chaintip responses and getting their BCH.
Come on, guys, try it out. You only have a week before it returns back to the owner of the tip.
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source https://www.reddit.com/r/btc/comments/mncdd3/a_lot_of_people_seem_to_have_not_configured_their/
Hard Wallet vs Soft Wallet
I recently purchased crypto for my first time, I was wondering is hardwallets were better than softwallets like Metamask.
My worries about hard wallets like ledger is that its not really useable (2 button control). What happens if the buttons break? Are the coins lost forever?
Are softwallets like metamask secure enough for longterm storage of coins?
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source https://www.reddit.com/r/btc/comments/mnbpb4/hard_wallet_vs_soft_wallet/
I'm buying 50000 Satoshi every day
To buy a whole BTC is too expensive, so I buy 50K Satoshi every day.
When I use Satoshi as the default unit to count my bitcoin, I think I'm a millionaire. ;)
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The Old American Dream Is Dead
Gone are the days where the American Dream was to own your own house, get married young and have kids. Housing is getting so expensive that most millennials will not be able to own their own home. The old American Dream is dead...
Enter the new American Dream - 2.1 BTC. Forget housing, we don’t need to play into the fake housing market shortage just to be left holding the bag when you bid so high on a shit tear down that has piping and foundational issue with buyers remorse.
Thanks why all of us (even people outside the US housing market) needs to realize the new penultimate Dream - 2.1 BTC.
Edit: posters echoed sentiments that 21 BTC is impossible (for myself included), and I agree. The American Dream should be obtainable, not impossible. So the New American Dream should be 2.1 BTC.
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Paying subscriptions
Genuinely asking if there are any subscription services (eg. Spotify, Netflix etc.) that currently support paying directly in BCH/BTC? I might consider subscribing to them, since I really want to avoid using my credit cards for paying subscriptions :)
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source https://www.reddit.com/r/btc/comments/mn8jik/paying_subscriptions/
Anything south of 60K is a bargain, eventually.
I've started to change the stacking strategy I have been using. I constantly waited for the dip. Now I just buy. Seriously, what does a 2K swing mean when you expect it to end up at 70, 80 or 100K in a few months. If predictions are even close, it's a matter of when not if this climbs past the 60k wall for good. For me it's a 10 year plus plan and worrying that 55K is so much better than 58K was making me crazy. I've come to realize that the dollar amount isn't the most important number, it's the amount of Bitcoin you own.
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Some pretty amazing developments are happening in bitcoin technology...
While we see a lot of Bitcoin news in mainstream media, one thing that often gets overlooked is the developments made to improve the technology.
Bitcoin technology saw major developments and upgrades in the past year [2020] and has some promising updates coming in 2021.
[2020]
Lightning Network:
One of the key developments within the Lightning Network in 2020 has been Watchtowers, which makes the protocol more secure.
One of Lightning Networks' drawbacks is that it made it possible for users to cheat and claim more funds than actually allocated to them. The partner user can stop this from happening but it requires continued monitoring of the bitcoin blockchain.
To avoid this, Watchtower was implemented which allows channel monitoring to be outsourced to impartial observers.
Taproot:
Taproot is supposed to be a major upgrade to the bitcoin protocol which would bring about huge improvements to the bitcoin’s scalability, fungibility, & privacy.
Taproot would essentially make smart contracts look like regular bitcoin transactions, thanks to Schnorr signature,
Using this will greatly reduce the transaction size giving room for more transactions on the block and increase privacy.
Taproots activation has been a topic of discussion for the past couple of months and various activation and consensus mechanisms are being tested.
PayJoin and CoinSwap:
PayJoin and CoinSwap are two protocols that were designed to increase the privacy of bitcoin transactions.
Currently, bitcoin transactions are not exactly private they are pseudo-anonymous, meaning with a little tracking they can be traced back to the user.
With PayJoin, or Pay to EndPoint [P2EP], the user sends funds to themselves while also receiving funds from the actual receiver. This tricks anyone tracking the funds to think that all the funds belong to the same person when in fact that is not the case.
Vaults
Bitcoin Vaults are a type of smart contract that will require bitcoin transactions several confirmations and a time delay to actually be spent.
This will time for the potential victim to reverse the transaction and get back the stolen bitcoins.
Smart Contracts - DLC
This update, designed for smart contracts, will bring about a change in how they operate when they rely on external data [data that does not live on the blockchain].
MINSC
A Miniscript-based scripting language for Bitcoin contracts, MINSC would greatly simplify the creation of bitcoin transactions.
[2021]
Bech32m
It is expected that Bech32m will support Taproot and all future segwit based script updates.
Private Key
This feature will add an update to the bitcoin wallets through which users will not be able to send transaction(s) from their wallet if the private key is disabled.
Multiple fee rate request
This update would bring about a change to the fee rate selection process that happens during the coin selection. It would essentially avoid coin selection from failing.
Sources:
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My name is Bitimus Maximus Stacksatius
commander of the Hodlers of the North, General of the Node Legions and loyal servant to the true Chad, Michaelis Saylorious. Father to a liquidated son. Husband to a REKT wife. And I will have my moon, in this life or the next.
that's all
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Is there a professional looking template to accept Bitcoin Cash for tips?
I work in the gig economy and would like to hang a sign saying that I accept Bitcoin Cash for tips.'
Is there a professional looking template I can use? I made one but I would like to have one that looks a little more sleek and professional.
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source https://www.reddit.com/r/btc/comments/mn64cz/is_there_a_professional_looking_template_to/
BitcoinCasH “BCH” in LEBANON. Im not dreaming its real! I just used BitcoinCasH to top up/recharge my phone account I dont know what to say i'm overwhelmed honestly, i see a great future, BitcoinCasH used among lebanese in day life payments. im surprised really dont know what to say what to write
Thursday, 8 April 2021
Daily Discussion, April 08, 2021
Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!
If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.
Join us in the r/Bitcoin Chatroom!
Please check the previous discussion thread for unanswered questions.
[link] [comments]
[Contest] I won a free Chipotle Burrito in their Bitcoin contest but the code expires tomorrow so I'll send it to the highest voted bitcoin meme in the comments tonight 8PM EST.
Don't post a bitcoin meme if you cant use the code tonight after 8PM EST or tomorrow...let someone who will actually use it have it.
Good luck Hodlers
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People say you take a risk when investing in Bitcoin. I see it different.
Usually, when you bring up cryptocurrency to someone in a conversation they will say something like “Oh, but isn’t that a very risky investment?”. Well yes, but actually no. Sure you can lose money because of the volatility, but thats not my point.
A year ago I started investing in cryptocurrency and my perspective on the risks involved have changed a lot since time has passed. We all know the feeling of FOMO, the risk of missing out on the gains you could’ve made on an investment. The risk of losing a future you could’ve had, an improvement of life. The fear of having the feeling of ‘Oh well, if only I would’ve...’ Well. I’m not willing to take that risk.
The point I’m trying to make is, its a risk NOT to invest in crypto because you risk missing out the best life you can live. Its an escape ticket to a better future and not accepting it would be a risk of losing that what can be. Sometimes you gotta do something risky to play it safe, you know?
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Miami’s Treasury Department Using Bitcoin
Miami is putting Bitcoin on its balance sheet and offering its city workers the option to be paid in Bitcoin.
This is the beginning of the road to an $80 Trillion Bitcoin market cap!
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Any fun ways to earn BCH?
For example, r/CryptoCurrency has Moons, which you earn via karma, and Nano has apps like WeNano, so I’m just wondering if there are similar projects for Bitcoin Cash. I’m still new to this community, and I’d love to find some faucets, or fun ways to earn a little BCH!
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source https://www.reddit.com/r/btc/comments/mml0ur/any_fun_ways_to_earn_bch/
I work in private wealth management. In 2017, 1% of the clients wanted to invest in BTC. Today, it’s about 10%!
Quick Background - I woke in private wealth management, focused on high net worth individuals in the United States. When BTC went parabolic in 2017, I would say about 1% invested. Fast forward to today, that number is up to about 10%!
I am absolutely amazed by this development. Most people I work with are conservative and baby boomers. Keep in mind, crypto in general is a really difficult concept for most, let alone older people who are not used to technology.
I am pleasantly surprised by this development, and I point to irresponsible money printing by central banks as means to dip the toes into BTC. It’s been fun educating people, and let’s keep it up as a community!
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Miami Utilizing Bitcoin
Miami is putting Bitcoin on its balance sheet and offering its city workers the option to be paid in Bitcoin.
This is the beginning of the road to an $80 Trillion Bitcoin market cap!
Only question is will it be BTC or BCH or a combination of both?
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source https://www.reddit.com/r/btc/comments/mmhsja/miami_utilizing_bitcoin/
I have built a crypto trading fees comparison tool.
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Hi Reddit! I have built a crypto trading fees comparison tool which covers maker/taker/net (maker + taker) fee rates across popular spot and derivatives exchanges. FTX, one of the largest crypto exchanges, also tweeted about the tool: https://twitter.com/FTX_Official/status/1378265508126986240 I'm a trader and I've always wanted a fair way to compare trading fees across exchanges with all their quirks, which is why I built this. It's completely free to use. By default, you will see tables showing how fee rates are affected by 30-day trade volume. There are also options for custom volume and the reduced fee incentives offered at some exchanges (e.g. paying fees with BNB at Binance or holding FTT at FTX). I'd love to hear any questions, feedback and suggestions. Are there any exchanges worth using that are missing? Twitter: https://twitter.com/dusktrades [link] [comments] |
Bch vs lite coin
What makes Bitcoin cash better than lite coin? Should I trade for some LTC?
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source https://www.reddit.com/r/btc/comments/mmfc0d/bch_vs_lite_coin/
Wednesday, 7 April 2021
Everyone can benefit from the financial freedom that Caizcoin provides
Caizcoin is available to everyone regardless of the person's place of residence. We make financial services available to everyone, even to those who previously had no access to them. Caizcoin adheres to traditional Islamic values, combining the Islamic world with the non-Islamic world.
We combine Islamic values with modern technologies, a blockchain-based payment system with traditional financial services to make people's lives easier, help them solve their financial problems, and unite people around the world.
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source https://www.reddit.com/r/btc/comments/mltxnn/everyone_can_benefit_from_the_financial_freedom/
QoinIQ offers a set of unique features for trading
Created by traders specifically for traders, the decentralized multi-exchange order management system of qoiniq.com provides a comprehensive set of tools that other trading platforms cannot offer.
Among our unique tools and features are decentralized order management system on secure servers, multi-book for simultaneous trading on different exchanges and cryptocurrency arbitrage, high-frequency trading with high operational capacity levels, margin trading and much more.
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source https://www.reddit.com/r/btc/comments/mlsrf9/qoiniq_offers_a_set_of_unique_features_for_trading/
RAT (remote access trojan) that is deeply obfuscated and seeks to replace wallet addresses in clipboard with its own bad addresses.
just found out about this today, tho it seems to have been active since 2019/2020 (known as vipersoftx then, now as backendsoft). you can read more about it here: https://www.fortinet.com/blog/threat-research/vipersoftx-new-javascript-threat
also a good breakdown of the modern iteration of this malware here: https://youtu.be/k-nFdF5FEwA
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Every business owner and entrepreneur needs to take advantage of this technology, it will separate you from you competitors, until they start doing it too😉
DeFi on Bitcoin?
This topic's probably been discussed ad nauseum, but what are your guys’ thoughts on DeFi native on Bitcoin?
Pomp and Edan Yago (two OGs) have talked about how it’s possible - Yago’s even speaking at an event this week on the Future of DeFi (specifically how it relates to Bitcoin L2 / DeFi - https://discover.stakerdao.com/defi-webinar-8-april-2021)
The old saying goes... "whatever tech is better than Bitcoin, will be adopted by Bitcoin”. Would love to hear people's thoughts on L2 and the above
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Gaze.cash - Video monetization platform using BCH
Hi,
I've just taken live the first early version of Gaze.cash (https://Gaze.cash) a video monetization platform that uses only bitcoin cash as payment method. The core functionality is done.
You can upload videos and get paid by others watching them,
You can like/dislike videos only if you paid to watch them
You can re watch videos that you paid for as much as you want within a 24 hour window (after which you'd have to pay again if you want to watch the same video again)
Each time someone watches one of your video's your money comes directly to the address you provided
videos are currently served in 3 different resolutions, more options will be added soon. you can specify a timestamp for the video thumbnail you'd like.
Some obvious functionality (like searching) is still outstanding - currently all videos on the site just show up on the home page.
The player was written from scratch for gaze.cash, and even though its holding up pretty well in my own testing It isn't perfect yet.
Gaze.cash is designed from the start to be perfectly functional without ever needing an account for either watching videos or uploading videos, but some things will of course be nicer with accounts (like channels), account / channel implementation coming soon.
All videos are hosted on amazon S3, they get uploaded to S3 directly from the browser and they stream from there back to the browser, gaze.cash should in theory have no issues scaling up.
Please feel free to check it out, upload you own videos! watch other peoples videos! I will appreciate any feedback. Also don't hesitate to ask if something is unclear or if you'd just like to know more.
To start of with I uploaded some random movie trailers, but I'm hoping to see more videos soon!
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source https://www.reddit.com/r/btc/comments/mlp8ae/gazecash_video_monetization_platform_using_bch/
I believe there’s reason to hold both BTC and BCH
I don’t think there’s good reason to be a maxi towards BTC or BCH. Diversity is what makes for a safe portfolio and being a maxi just means you have gotten too emotional about investing.
I wrote a short article on why I think it’s important to hold both for anyone interested
https://www.publish0x.com/bitcoin-blogs/should-you-own-bch-and-btc-xwqdlee
As far as I’m concerned, the only sensible way forward is to own both BTC and BCH
[link] [comments]
source https://www.reddit.com/r/btc/comments/mloslw/i_believe_theres_reason_to_hold_both_btc_and_bch/
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