Crypto 360°

Tuesday, 17 August 2021

THE FIRST BITCOIN HASHWAR (Thanks for that BCH miners!)

source https://www.reddit.com/r/btc/comments/p5r3xu/the_first_bitcoin_hashwar_thanks_for_that_bch/

Help with importing an electrum wallet into my Bitcoin.com app

So the short story is I am putting in my 12 word recovery phrase in the Bitcoin.com app but it won’t import, saying that the phrase is wrong. I still have access to the old wallet I just want it off the Tails OS. Any thoughts? I’m not a savant with all this so use small words if possible. Thanks in advance!!

submitted by /u/johnnydorko
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source https://www.reddit.com/r/btc/comments/p5qv2u/help_with_importing_an_electrum_wallet_into_my/

Afghanistan has looting race and banks close: “We don’t have cash”

submitted by /u/thefoodboylover
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I took some time to detail some of the layer 3 apps coming down the pipe being built atop Bitcoin & Lightning. TLDW: bitcoin is scaling in layers and incredible things are being accomplished without the need for altcoins.

submitted by /u/benperrin117
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Bitcoin Layer 3 Is Growing!

submitted by /u/bubersson
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source https://www.reddit.com/r/btc/comments/p5pspp/bitcoin_layer_3_is_growing/

Can you find: BTC, ETH and LINK?

submitted by /u/HowToGrowYourBrand
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source https://www.reddit.com/r/btc/comments/p5p0t7/can_you_find_btc_eth_and_link/

Spendable AnyHedge contracts

Hello Everyone

I've been thinking about applications that AnyHedge enables. It can be the next big thing that will drive adoption. The truth of the matter is at the moment people are much more comfortable having portion of their money tied to the local currency they use. And usually they will be looking for a place that pays interest on their money.

The Proposal

We need a better version of AnyHedge contracts that will enable the person at the hedge side of the contract to close it at the next block. With that we will have the ability for people to lock the value of their coin for long term. And they will be able to spend or close it at anytime.

We need three opcodes for the new contract to add this ability. The opcodes are similar to CheckTimeLockVerify.

Check parent transaction block height equal (verify)
Check parent transaction block height less than (verify)
Check parent transaction block height greater than (verify)

All three will take two arguments, 1. the index of the input coins, 2. the value to check the block height with.

If we have the ability to detect at which block a transaction was included in the blockchain then we can feed it with the correct data from the right oracle. And we'll be able to settle the contract without the need to trust the other party.

Why I think AnyHedge contracts have the potential to go viral?

I have a particular arrangement of an AnyHedge contract in mind. Which can be beneficial for both parties.

The long side of the contract is known as the one taking the risk. It may bring the concern that there may not be enough demand for going long. But I've thought of an arrangement for the long side that will make it more interesting. Let me explain below.

Lets say you have $1000 in BCH. And you want to go take $250 loan with it. Here's how you would be able to do it with AnyHedge. You will go long a contract that has $250 at Its hedge side. And you will sell $250 worth of BCH for USD. There you go, You have $250 to spend until the contract ends. And before the contract ends you have to buy back the BCH ($250) so you would be able to maintain the amount of BCH you had.

As long as the value of BCH not going below 1/4 of Its original price (When the contract has started), You will be able to maintain the same amount of BCH you had once you pay back the loan.

I can imagine people are willing to pay interest for taking loans like this. So the hedge side will be able to take some interest.

And we all have seen how much these loan/interest services defi/cifi has become popular.

Lets do this!

Please leave a comment.

submitted by /u/hosseamin
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source https://www.reddit.com/r/btc/comments/p5hfz3/spendable_anyhedge_contracts/