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submitted by /u/Zunnurayni [link] [comments] |
source https://www.reddit.com/r/btc/comments/105as6i/bitcoincash_demo_hangouts/
Saturday, 7 January 2023
BitcoinCash Demo Hangouts
source https://www.reddit.com/r/btc/comments/105as6i/bitcoincash_demo_hangouts/
Bitcoin History: Who was James A. Donald? The man who predicted the Lightning Network and Fedimint
James A. Donald was an anonymous Canadian cypherpunk.
He was among the first people to critique Satoshi’s white paper and theories. Donald argued with Satoshi about scaling on more than one occasion and detailed that he believed Bitcoin needed a layer of account. “We will need a layer of account money on top of the bitcoins, supporting transactions of a hundred-thousandth the size of the smallest coin, and to support anonymity, Chaumian money on top of the account money,” Donald wrote on November 8, 2008.
On November 17, 2008, Nakamoto sent Donald the Bitcoin source code for his review. “I sent you the main files (available by request at the moment, full release soon).”
Here is the original email correspondence between Satoshi and James A. Donald on November 17, 2008.
Within a week of the Bitcoin whitepaper being published, Hal Finney also talked about the idea building protocols like Lightning and Fedimint on top of bitcoin arguing for “building light-weight anonymous payment schemes on top of heavy-weight non-anonymous systems, so Bitcoin could be leveraged to allow for anonymity even beyond the mechanisms discussed in the paper.”
Other notable cypherpunks who believed in layering protocols are Nick Szabo and Adam Back.
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Friday, 6 January 2023
Research has shown that Binance has been creating IOU tokens for BUSD and only backing them weeks later after making profits from using these unbacked funds, likely to trade against their own clients. This strategy works until the trades backfire and the exchange becomes insolvent.
Question: in the scenario that your seed has been compromised, is there a way to get an alert that someone is trying to bruteforce your Passphrase ?
The only rudimentary method I can come up with is leaving a smaller amount on your open wallet and being notified that this address has send out funds, through a "watch only" wallet like Sentinel.
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BTC wallet w/o kyc
Need a wallet that lets you buy with prepaid cards and doesn’t require any from of id or verification other than email or phone number(voip). Does anyone know any? I’ve been looking at cake wallet but don’t know if you can buy with prepaid. Btw i don’t have a laptop
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source https://www.reddit.com/r/btc/comments/1045avh/btc_wallet_wo_kyc/
Thursday, 5 January 2023
Effortlessly rebalance your LND node with LNRebalance
Hey all,
I recently set up my own LND (Lightning Network Daemon) node and have been learning about the best practices for managing and optimizing it. One thing I've been struggling with is rebalancing my channels to ensure that they are evenly balanced and not costing me more in fees than they are worth.
After some research, I discovered a really easy way to rebalance my LND node using a tool called LNRebalance. It's an open-source command-line tool that can automatically rebalance my node based on configurable criteria, such as the minimum and maximum channel balance and the maximum fee percentage.
To use LNRebalance, all I had to do was install it using the go get
command and then run it from the terminal with the desired options. It handled the rest of the rebalancing process automatically, saving me a lot of time and effort.
If you're running your own LND node and are looking for an easy way to rebalance your channels, I highly recommend giving LNRebalance a try. It's been a game-changer for me, and I hope it can help you too!
What tools or techniques do you guys use to rebalance your LND nodes? Let me know in the comments!
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Wednesday, 4 January 2023
Despite 2022 having the worst financial conditions since 2008, politicians, on average, not only significantly outperformed the S&P500 but MADE a profit. This is why we need decentralization. This is why we need Bitcoin.
Once Genesis lost 1.1 Billion in July 2022, The Digital currency group borrowed as much as possible using their insolvent subsidiary and hail mary’d all user funds on massive crypto gambles. Anyone who lent after July 2022 was scammed since Genesis was already completely insolvent from then onward.
In July 2022 Three arrows capital went bankrupt and with that Genesis lost 1.1 Billion dollars and therefore was unable to meet their liabilities to borrowers. Genesis became insolvent as of that date.
DCG issued a piece of paper stating that in June 2032 they will supply $1.1 Billion dollars and repay borrowers. So Genesis is still insolvent with a promise on a piece of paper that if DCG wins billions in the lottery in 10 years, borrowers may get repaid. If not its just a piece of paper with the number $1.1 Billion written on it and DCG will just default on their IOU.
Source: https://twitter.com/TradFiWhale/status/1595235832297914369/photo/1
The issue is that even though Genesis was insolvent, they used this piece of paper with the numbers $1.1 Billion on it to continue taking loans from new lenders despite being completely insolvent.
Genesis took 575M of user funds and lent real money to their parent company DCG (unlike the fake 10 year IOU they received), who took this money straight to the casino and gambled it all on crypto. If they win their gamble, they repay, if they lose they just go bankrupt. No downside for DCG , just an upside with other peoples’ money.
So in effect a completely bankrupt company with 1.1B of debts that they cannot repay, managed to scam an additional 575M of funds and give it to their parent company, so they could gamble it all on insanely high risk gambles that will multiply their money or lose everything.
All new lenders since july 2022 were scammed since Genesis was missing 1.1B. They then gave away an additional 575M as a long term loan to their parent company. So now 1.675B is missing, as if the original 1.1B since july wasnt bad enough. This was an intentional scam similar to the FTX scam where they took all user funds, wrote an IOU backed by FTT and then gambled it all away. In this case the IOU isnt even backed by anything at all , its just a piece of paper that was used to stall so Genesis could get more new loans.
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source https://www.reddit.com/r/btc/comments/102hws6/once_genesis_lost_11_billion_in_july_2022_the/
Tuesday, 3 January 2023
Tomorrow marks the 14th birthday of BTC. Why block 770k and not 736k though?
Bitcoin was started on Jan 3rd 2009. It's been running for 5114 days tomorrow or 7,364,160 minutes.
Why is the block height at 770074 rather than around 736416 though, when the difficulty adjustment every 2016 blocks changes the difficulty in a way to have 1 block produced per 10 minutes on average?
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Question for BTC millionaires. How did you set up your life when money was no more object in your life?
Bitcoin is a life changing asset!
Curious to know how you structured your life when money was no object.
Craziest thing you bought to your biggest lifestyle changes, want to know it all!
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Mentor Monday, January 02, 2023: Ask all your bitcoin questions!
Ask (and answer!) away! Here are the general rules:
- If you'd like to learn something, ask.
- If you'd like to share knowledge, answer.
- Any question about Bitcoin is fair game.
And don't forget to check out /r/BitcoinBeginners
You can sort by new to see the latest questions that may not be answered yet.
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Monday, 2 January 2023
Biggest criticisms of bitcoin
Hi all,
Is there a book (or series of blogs) that presents some serious arguments against the viability of bitcoin as a currency or store of value?
I'm familiar with most criticisms thrown around (like carbon emissions from mining, and the fear around illegal activity). I'm looking for issues I haven't read about so far. For instance, have people raised any potential obstacles in the path toward full adoption? Are there any sectors of society that would be negatively affected by a decentralized currency with a capped supply? ...
Thanks.
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What’s your 2023 goals as a bitcoiner?
Me and my gf made podcast with them here https://open.spotify.com/episode/5CC4GqTkAXnGpuoFh25okR?si=FsK38BY3QNWMTapQjm7xHg if you want to listen
Or here are my goals: 1. Finish Accumulating 1 full bitcoin. Currently at 0.4 using Dollar Cost AVG 2. Listen to the "The Science to Get Rich" everyday and tweet a quote form the book as proof.
3. Eat Healthier while Following the standards suggested in "The Fiat Standard" book chapter 8 and stop consuming (show visuals and examples): -Vegetable Oils such as: soy, rapeseed, sunflower, corn, and margine -High fructose corn syrup -soybean based products -low fat foods -refined flour and sugar -Stop eating processed fast food meat completely 4. Grow YouTube following to 1000 subscribers min 5. Build stock long term portfolio from selling calls and puts to be able to yield $1000 a month in income by December 2023 ending"
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Sunday, 1 January 2023
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