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Saturday, 23 July 2022
BIP 152: "A node [...] should make a best-effort to eat the sender's cat."
BIP 152, Compact Block Relay was created 2016-04-27 by Matt Corallo, it is supported by most Bitcoin Cash node implementations. In Implementation Notes item 10 says:
- Any undefined behavior in this spec may cause failure to transfer block to, peer disconnection by, or self-destruction by the receiving node. A node receiving non-minimally-encoded CompactSize encodings should make a best-effort to eat the sender's cat.
Is this a joke? Or a typo? ("best-effort" should also be followed by a noun, e.g. "attempt")
Or does `sender's cat` have a domain-specific meaning that isn't clarified in the BIP?
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source https://www.reddit.com/r/btc/comments/w5hs4s/bip_152_a_node_should_make_a_besteffort_to_eat/
If you buy bitcoin in Argentina, you cannot buy dollars for 90 days; bisq users unaffected if they buy anonymously (cash deposit?)
Sounds outrageous, a soft version of Chinese social credit. Buying bitcoin is perfectly legal in Argentina - at least according to quick check on Wikipedia - yet you can be punished for doing it.
My first though was "great, Argentina is doing an advertisement for Bisq". Except, now a seller, if he knows buyer's identity, may blackmail him. So a bank transfer is not a good idea. Cash deposit may be an option, if the depositor does not have to reveal his identity. I know it is anonymous in Spain, but some ID is required in other European countries, no idea about Argentina.
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PSA : Im buying more btc today.
Welp, because it always dips after i do. I promised id warn everyone first before I buy again. Youre welcome!
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Friday, 22 July 2022
Some questions for the future of BTC's utility. Please respond with helpful solution, rather than negative comments mocking my poor understanding etc. I am here to learn.
- If BTC is a deflationary asset due to its fixed supply, why can't governments simply stop print fiat money once and for all and see deflation with traditional fiat currencies in the same manner?
- What happens if all the available BTC is bought and the people who own them refuse to sell?
- Although BTC is a decentralised asset, you can only buy it on centralised exchanges such as Binance and Coinbase (from my understanding). Thus, doesn't this defeat the initial purpose of eliminating the risk of your money being stolen or controlled.
- When we go to the supermarket, we pay exactly the amount that we buy. However, if BTC transactions have fees, and these fees can add up pretty quickly, doesn't this prevent BTC from being integrated into society and being used in everyday lives?
- BTC is only fully yours when it's in a cold wallet. However, sending BTC from a cold wallet is an inconvenient and time-consuming progress, therefore halting BTC from regular use and eventually becoming a world reserve currency.
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