Crypto 360°

The only safe way for merchants to accept Bitcoin Core BTC is to make the customer wait for a confirmation before handing over the goods.

Surprisingly, this was not always the case. Back before Blockstream, merchants could safely hand over the goods the instant a Bitcoin transaction was received. Back then, the Bitcoin network operated on the first-seen principle. From the Bitcoin whitepaper, "...the earliest transaction is the one that counts, so we don't care about later attempts to double-spend". As the broadcast propagated over the Bitcoin network, it locked each node against accepting a double-spend and a merchant could safely hand over the goods knowing that the transaction will almost certainly be confirmed in the very next block.

The Bitcoin 0-conf is a stunning piece of genius, being an unacknowledged broadcast, no cryptocurrency (or fiat) messaging can exceed it for speed.

Thus the simplicity and incredible speed of Bitcoin 0-conf formed the basis for the most powerful electronic cash system the world had ever seen.

The came Blockstream, then the change in vision to a settlement system, then came artificial congestion, then came RBF and segwit, then happily in August 2017, Bitcoin Cash forked to restore the original, elegant, genius properties of Bitcoin.

Today, Bitcoin Cash is the proven electronic cash system of choice for merchants wanting to field the ultimate payment experience and expand in this emerging market.

submitted by /u/where-is-satoshi
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source https://www.reddit.com/r/btc/comments/eh26c2/with_no_bitcoin_core_security_fixes_in_sight_or/

Crypto 360°

Sunday, 29 December 2019

One of the 2 BTC ATM's in Kraków, Poland. I seriously love them 😁

P2P does not need any 3rd party

Bitcoin Gource: Bisq

I am streaming again, I know it's late for most. But for those in europe it's morning again. Come say hi if you want to. I loaded in some new sounds for today.

With no Bitcoin Core security fixes in sight or even under consideration, merchants are urged to switch to Bitcoin Cash - the cash version of Bitcoin.

BTC be like

It's OK to believe in Santa...

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