Johoe's Bitcoin Mempool Size Statistics

[HALVING MEGATHREAD] Block 630000 has been mined. Mining subsidy is now 6.25 BTC per block. The third Bitcoin Halving is now complete!

As of now, 630,000 blocks have been mined on the Bitcoin network, and the block reward has successfully halved for the second THIRD time. The previous block reward was 12.5 BTC, and the new block reward is now 6.25 BTC. Since the previous halving at Block 420000, monetary inflation decreased from 4.17%% to 3.57%. Block 630000 signals an immediate 50% reduction to 1.79%. The next halving will occur at Block 840000 in approximately four years. Godspeed, Bitcoin!
Here's Block 630000 in all its glory!
{ "hash": "000000000000000000024bead8df69990852c202db0e0097c1a12ea637d7e96d", "confirmations": "1", "strippedsize": "1186930", "weight": "3993250", "height": "630000", "version": "536870912", "merkleroot": "b191f5f973b9040e81c4f75f99c7e43c92010ba8654718e3dd1a4800851d300d", "tx": "3134", "time": "1589225023", "nonce": "2302182970", "bits": "387021369", "difficulty": "16104807485529", "previousblockhash": "0000000000000000000d656be18bb095db1b23bd797266b0ac3ba720b1962b1e", } 
coinbase transaction: 6.25 BTC + 0.90968084 BTC in fees
block size: 1186.93 KB
transactions: 3134
total bitcoins: 18,375,000
remaining bitcoins: ~2,625,000
previous halving: 3 years 10 months 2 days 2 hours 37 minutes 30 seconds ago
[Monetary Inflation Chart] [Controlled Supply] [Bitcoin Clock]
[blockstream.info] [insight.io] [tradeblock.com] [mempool.space] [btc.com] [blockchain.com]
submitted by BashCo to Bitcoin [link] [comments]

An In-Depth Guide to: How do I Fix my Ledger Nano’s Stuck Ethereum Transaction?!?!?! (It’s Been Stuck for Weeks and NOTHING Traditional has Worked!!!!) As Well as: How Do I Choose My Nonce??? I’ve Tried MetaMask, MEW/MyEtherWallet, and Others, but Nothing is Working Correctly!!! I’m Dying by Stress!

So, if you were like me 1-2 months ago, you’ve probably already gone through 2,or 3, ...or 40 articles and guides that probably say something like:
“YeP, eVeRy EtHeReUm UsEr WiLl EvEnTuAlLy HaVe ThE LoW-gAs ExPeRiEnCe, YoU’rE nOt AlOnE! DoN’t FrEaK OuT tHoUgH; ThErE iS a WaY tO fIx It!”
Chances are, every time you read another useless article, you want to kill the nearest inanimate object, even though it was never alive in the first place. Nonetheless, you’re gonna kill it as much as it can be killed, holding nothing back; or, you’re just plotting to and slowly getting closer to executing the plan (and the object) every time you are insulted once again.
However, if you have the ability to download software (MyCryptoWallet) on a PC, it should be safe to relax now. I think you’ve finally found some good news, because I am 99.99...% sure this will work for the issue that so many people are having at this time, around the end of the month of May, year 2020.
More and more people are likely to be having this issue soon, since Ethereum's gas prices have been insanely high lately as well as having 300% price changes in a matter of minutes; Etherscan’s Gas tracker is nearly uselessly-inaccurate at this time. I've heard that there's a congestion attack; that was said a week ago, and it appears to be ongoing... (I can't think of any other suspect besides Justin Sun to blame it on... it must be incredibly expensive to overload the blockchain for this long... I may be wrong though...)
 
Let’s begin
For myself, I was trying to send an ERC20 token when this dreadful issue attacked. Specifically, the token was either BSOV or GRT; I sent them 1 after the other and the first succeeded, and the second one took over a week.
(They’re both great tokens in my opinion and deserve much more attention than they’ve been getting. BSOV is nearing its 1 year anniversary as I write this, and GRT is still in its 90 day community-development progress test, so of course I'm gonna take this opportunity to "shill" them; they are great tokens with great communities).
I was able to finally fix it, after a week of mental agony (also the txn finally processed 1-2 hours before I found the solution, robbing me of the gratitude of fixing it myself... (╯‵□′)╯︵┻━┻ ...but now I guess I can hopefully save some of you the headaches that I endured... ) I’m providing the ability to do the same, in a step by step guide.
Why did I go through all of this trouble? I'd fault the fact that I have ADHD and autism, which in my case can multiply each other’s intensity and cause me to “hyper-focus” on things, much much more than most with the same qualities, intentionally or not. Adderall is supposed to give me a bit of control over it, but except for in a very-generalized way, it’s still 90% up to chance and my default-capabilities to allow me control over my attention with self-willpower. But also Karma and Moons pls... ʘ‿ʘ
 
  1. In MyCrypto, (I'm using the Windows 10 app, version 1.7.10) you will open to a screen that says "How would you like to access your wallet?". Choose Ledger, of course. (Unless your here for some non-ledger issue? Idk why you would be but ok.)
  2. On the next screen (having your nano already plugged in, unlocked, and opened into the Ethereum app) click "Connect to Ledger Wallet"
  3. A screen overlay should appear, titled: "Select an Address". Here is where it may get confusing for some users. Refer to "AAA" below to know how to find your account. (Geez, sorry lol that was a huge amount of info for a reddit reply; I might've over-elaborated a little bit too much. but hey it's valuable information nonetheless!)
  4. After escaping the "AAA" section, you'll have accessed your account with MyCrypto. Awesome! To find your ERC20 tokens, (slight evil-laughter is heard from an unidentifiable origin somewhere in the back of your mind) go to "AAB".
  5. (You may have decided to find the token(s) on your own, rather than daring to submit to my help again; if so, you may pity those who chose the other path... ~~( ̄▽ ̄)~~) Now, once you've added your token, you should revert your attention to the account's transfer fill-out form!
  6. I'll combine the steps you probably understood on your own, already. Put in the address that your stuck transaction is still trying to send currency to. If an ERC20 token is involved, use the drop-down menu to change "ETH" to the token in trouble. Input your amount into the box labeled... wait for it... "Amount". Click on "+Advanced".
  7. Refer to Etherscan.com for the data you will need. Find the page for your "transaction(txn) hash/address" from the transaction history on the wallet/Ethereum-manager you used to send from. If that is unavailable, put your public address that your txn was sent from into the search tool and go to its info page; you should be able to find the pending txn there. Look to open the "more details" option to find the transaction's "Nonce" number.
  8. Put the nonce in the "Nonce" box on MyCrypto; you will contest the pending txn with a new txn that offers larger gas fees, by using the same nonce. If (but most likely "When") the new transaction is processed first, for being more miner-beneficial, the nonce will then be completed, and the old transaction will be dropped because it requests an invalid, now-outdated nonce. Your account will soon be usable!
  9. Go to the Gas Tracker, and it may or may not provide an informative reading. Choose whatever amount you think is best, but choose wisely; if you're too stingy it may get stuck again, and you'd need to pay another txn's gas to attempt another txn-fix.
  10. At the time I write this, I'd recommend 50-100 gwei; to repeat myself, gas requirements are insane right now. To be safe, make the gas limit a little higher than MCW's automatic calculation, you may need to undo the check-mark for "Automatically Calculate Gas Limit".
  11. Press "Send Transaction"!!!
  12. You will need to validate the action through your nano. It will have you validate three different things if you are moving an ERC20 Token. It's a good idea to verify accuracy, as always.
 
Well, I hope this worked for you! If not, you can let me know in a reply and I'll try to figure it out with you. I like making these in-depth educational posts, so if you appreciate it please let me know; I'll probably make more posts like this in the future!
( Surely this is at least far better than Ledger's "Support" article where they basically just tell you "Yeah, we haven't bothered to make a way to manually select nonces. I guess we might try to make that available for Bitcoin accounts at some point in the future; who knows? lol"... that's not infuriating at all, right?)
 
AAA:
Before I tell you how to find your address, I will first make it clear, within the italicized text, exactly which address you are looking for, if you are not already sure:
You may also skip the text written in italics if your issue does not include an ERC20 token, if you wish.
Ledger Live can confuse some users with its interface. On LL, to manage an ERC20 token, you first must go to your Ethereum account and add the token. When you then click on the added token under "Tokens" below the graph chart for your account's ETH amount over time, the screen will then open a new screen, that looks just the same, except focused on the specific ERC20 token. To confuse users further, there is then an option to "Star account", which then add the ETH icon with the ERC20 token's first letter or symbol overlapping, onto the easy access sidebar, as if it was another account of similar independency to the ETH account it was added to.
This improperly displays the two "accounts" relation to each other.
Your ERC20 holdings (at least for any and all ERC20 that I know of) are "held" in the exact-same address as the Ethereum address it was added to, which also "holds" any Ether you've added to it. You send both Ether (ETH) and any ERC20 Tokens to and from only Ethereum addresses of equivalent capabilities, in both qualities and quantities. In all basic terms and uses, they are the same.
So, to know what the problematic account's address is, find the address of the Ethereum account it was added to in Ledger Live.
Now, to find your address on MyCrypto, the most reliable way to find it, that I am aware of, is this:
Open Ledger Live. Go to the screen of your Ethereum address (again, this is the one that you added your ERC20 token, if applicable. If you're not dealing with an ERC20 token, you may ignore everything I've put in Italics). Click on "Edit account"; this is the icon next to the star that may look like a hex-wrench tool. On the new screen-overlay, you will see "> ADVANCED LOGS". Click on the ">" and it will point down while revealing a drop-down with some data that you may or may not recognize/understand. Likely to be found indented and in the middle-ish area, you will see this line, or something hopefully similar:
"freshAddressPath": "44'/60'/X'/0/0",
The "X" will probably be the only thing that changes, and the actual data will have a number in its place; it will not be a letter. Let's now put that line to use in MyCrypto:
Take the 44'/60'/X'/0/0 , and make sure you DO NOT copy the quotation marks, or that comma at the end either.
You can do this before or after copying and/or pasting, but drop the second "/0" at the end; it was not necessary in my case, I expect that you won't need it either, and will probably just make MyCrypto see it as an invalid input.
Okay, now go back to the "Select an Address" screen-overlay in MyCrypto.
Next to "Addresses", click on the box on the right, and you should be shown a list of options to select from in a drop-down menu.
Scroll all the way down, and you should find the "Custom" option at the very bottom. Select it.
A new box will appear; probably directly to the right of the now-shortened box that now displays the "Custom" option that you just selected. This box will offer an interface for typed input. ...yep... once again, believe it or not, you should click it.
Type " m/ ", no spaces before or after.
Type in or paste the data we retrieved from ledger live.
The box should now hold this:
m/44'/60'/X'/0
Again, X should be a number. In fact, that number is probably equal to the number of Ethereum (not including any ERC20 wannabe) accounts that you've made on Ledger Live before making the one we're working on right now! (1st Eth. Acc. would have: X = 0, 2nd: X = 1, 3rd: X = 2, ...)
Make sure you've included every apostrophe ( ' ), and solidus ( / ); there is NO APOSTROPHE for the "m" at the start and the "/0" at the end!
If you press the enter key or click on the check-mark to the right of where you typed, the appropriate addresses will be generated, and the address you created through Ledger Live should be the first one on the list!
Select your address and press "Unlock", and you are now accessing your account through the MyCrypto app's interface!
 
AAB:
In order to access your ERC20 token, you will need to add them first.
You may have to scroll down, but on the right-side of your unlocked account screen, you'll see a box with "Token Balances" as its header.
Click "Scan for tokens". This may take a short bit of time, and when it's done it may or may not display your ERC20 token. If it worked, you can head on back to the main part.
If you got the result I did, it won't display your token, or, if our result was exactly the same, it won't display any at all. However, you should now have the "Add Custom Token" option available, so see where that takes you.
You should discover four boxes, specified in order (Address/ Decimals / Token_Symbol / Balance). You may only need to fill in the "Address" box, but if you need to fill others, you'll find those with the token's address; here's 2 ways to find it, if you don't already know.
Method I:
Since you've probably already been managing your token with Ledger Live, you can go to the LL screen of your "account" for that token; Right next to the account's icon, and directly above the name, you'll see:
Contract: 0x??????...????????
Yes, go on; click it. You'll find the token's page on Etherscan; this was just a shortcut to the same place that both of the two previously referenced methods lead to. Skip to method... III?
Method II:
Go to Etherscan.com, or a similar Ethereum-blockchain-monitoring website, if you have a different preference. Search for the name of your token, and you should be able to see it as a search result. Activate your search manually of by selecting search option. Continue on with Method III.
Method III (Iⅈ what makes you think there was a third method? I said 2!):
At this point, you should find the "contract address" somewhere on the screen. This is the identity of the creature that breathes life into the token, allowing it to exist within the world of Ethereum. Steal it, and tell MyCrypto that you've left some of "your" tokens in the address of your ledger's Ethereum account. MyCrypto will trust and believe you without any concern or doubt, just by putting "your" contract address in the box for "Address"; it's almost too easy!
Well whaddya know, this one isn't actually too long! Don't tell anyone who may have taken a little longer whilst finding out how to do it themselves, though. There's value in trying to do something on your own, at least at first, so I'll let them think they made the right choice (¬‿¬). But take this star for humbling yourself enough to seek further help when you need it, since that is a very important life skill as well!
(o゜▽゜)o☆
Now, back to the useful stuff at the top...
 
EDIT: A comment below made me realize that this info should be added too. Here is my reply to the comment saying I could just use MetaMask. I said in the title that this guide is for questions where MEW and MetaMask aren’t working, but I guess it’s easy to miss. I used my u/caddark account to respond:
(Using this account because u/caddarkcrypto doesn’t meet the karma/age standards to comment; the post had to be manually approved.)
I guess I didn’t make it entirely clear; sorry:
The target audience for this guide is anyone with a stuck Ethereum transaction that was initiated through Ledger Live AND are experiencing the same difficulties I had encountered while trying to fix this issue for myself.
This wasn’t any regular stuck Ethereum transaction. Apparently before, there was an issue that made a Ledger Nano nearly impossible to connect to MetaMask (which is also Brave Browser’s integrated “crypto wallet” for the desktop version) and/or MEW (also perhaps any other browser wallets made for chrome and/or brave) that I heard was supposed to be fixed in a recent update. It might’ve been mostly patched, idk, but during my experience, (in which I was using the latest version of Ledger Live that is available right now,) that issue still remained.
The really weird part was that it successfully connected to the browser wallets again after I fixed the stuck transaction. At first I thought that somehow the txn was what was bugging the connection. However, later, during no txn issues, I was again unable to connect.
Seeing the same connection error again later, I opened up the MCW app I downloaded the day before, and was going to just use that. While in the process of operating MCW, I suddenly had another idea to try for the browser wallet so I went back to that just to quickly test it.
The browser wallet worked perfectly...
I don’t know how, but I think that somehow, something in MCW’s software, makes the browser wallets work. They don’t work for me without having MCW opened in the background first.
EDIT 2: Markdown decided to stop working after I did the first edit... I might fix it tomorrow... how did that happen though??? What did I do?
EDIT 3: nvm, I'm just fixing it now; I won't get much sleep tonight I guess.
submitted by CaddarkCrypto to CryptoCurrency [link] [comments]

Where is Bitcoin Going and When?

Where is Bitcoin Going and When?

The Federal Reserve and the United States government are pumping extreme amounts of money into the economy, already totaling over $484 billion. They are doing so because it already had a goal to inflate the United States Dollar (USD) so that the market can continue to all-time highs. It has always had this goal. They do not care how much inflation goes up by now as we are going into a depression with the potential to totally crash the US economy forever. They believe the only way to save the market from going to zero or negative values is to inflate it so much that it cannot possibly crash that low. Even if the market does not dip that low, inflation serves the interest of powerful people.
The impending crash of the stock market has ramifications for Bitcoin, as, though there is no direct ongoing-correlation between the two, major movements in traditional markets will necessarily affect Bitcoin. According to the Blockchain Center’s Cryptocurrency Correlation Tool, Bitcoin is not correlated with the stock market. However, when major market movements occur, they send ripples throughout the financial ecosystem which necessary affect even ordinarily uncorrelated assets.
Therefore, Bitcoin will reach X price on X date after crashing to a price of X by X date.

Stock Market Crash

The Federal Reserve has caused some serious consternation with their release of ridiculous amounts of money in an attempt to buoy the economy. At face value, it does not seem to have any rationale or logic behind it other than keeping the economy afloat long enough for individuals to profit financially and politically. However, there is an underlying basis to what is going on which is important to understand in order to profit financially.
All markets are functionally price probing systems. They constantly undergo a price-discovery process. In a fiat system, money is an illusory and a fundamentally synthetic instrument with no intrinsic value – similar to Bitcoin. The primary difference between Bitcoin is the underlying technology which provides a slew of benefits that fiat does not. Fiat, however, has an advantage in being able to have the support of powerful nation-states which can use their might to insure the currency’s prosperity.
Traditional stock markets are composed of indices (pl. of index). Indices are non-trading market instruments which are essentially summaries of business values which comprise them. They are continuously recalculated throughout a trading day, and sometimes reflected through tradable instruments such as Exchange Traded Funds or Futures. Indices are weighted by market capitalizations of various businesses.
Price theory essentially states that when a market fails to take out a new low in a given range, it will have an objective to take out the high. When a market fails to take out a new high, it has an objective to make a new low. This is why price-time charts go up and down, as it does this on a second-by-second, minute-by-minute, day-by-day, and even century-by-century basis. Therefore, market indices will always return to some type of bull market as, once a true low is formed, the market will have a price objective to take out a new high outside of its’ given range – which is an all-time high. Instruments can only functionally fall to zero, whereas they can grow infinitely.
So, why inflate the economy so much?
Deflation is disastrous for central banks and markets as it raises the possibility of producing an overall price objective of zero or negative values. Therefore, under a fractional reserve system with a fiat currency managed by a central bank – the goal of the central bank is to depreciate the currency. The dollar is manipulated constantly with the intention of depreciating its’ value.
Central banks have a goal of continued inflated fiat values. They tend to ordinarily contain it at less than ten percent (10%) per annum in order for the psyche of the general populace to slowly adjust price increases. As such, the markets are divorced from any other logic. Economic policy is the maintenance of human egos, not catering to fundamental analysis. Gross Domestic Product (GDP) growth is well-known not to be a measure of actual growth or output. It is a measure of increase in dollars processed. Banks seek to produce raising numbers which make society feel like it is growing economically, making people optimistic. To do so, the currency is inflated, though inflation itself does not actually increase growth. When society is optimistic, it spends and engages in business – resulting in actual growth. It also encourages people to take on credit and debts, creating more fictional fiat.
Inflation is necessary for markets to continue to reach new heights, generating positive emotional responses from the populace, encouraging spending, encouraging debt intake, further inflating the currency, and increasing the sale of government bonds. The fiat system only survives by generating more imaginary money on a regular basis.
Bitcoin investors may profit from this by realizing that stock investors as a whole always stand to profit from the market so long as it is managed by a central bank and does not collapse entirely. If those elements are filled, it has an unending price objective to raise to new heights. It also allows us to realize that this response indicates that the higher-ups believe that the economy could crash in entirety, and it may be wise for investors to have multiple well-thought-out exit strategies.

Economic Analysis of Bitcoin

The reason why the Fed is so aggressively inflating the economy is due to fears that it will collapse forever or never rebound. As such, coupled with a global depression, a huge demand will appear for a reserve currency which is fundamentally different than the previous system. Bitcoin, though a currency or asset, is also a market. It also undergoes a constant price-probing process. Unlike traditional markets, Bitcoin has the exact opposite goal. Bitcoin seeks to appreciate in value and not depreciate. This has a quite different affect in that Bitcoin could potentially become worthless and have a price objective of zero.
Bitcoin was created in 2008 by a now famous mysterious figure known as Satoshi Nakamoto and its’ open source code was released in 2009. It was the first decentralized cryptocurrency to utilize a novel protocol known as the blockchain. Up to one megabyte of data may be sent with each transaction. It is decentralized, anonymous, transparent, easy to set-up, and provides myriad other benefits. Bitcoin is not backed up by anything other than its’ own technology.
Bitcoin is can never be expected to collapse as a framework, even were it to become worthless. The stock market has the potential to collapse in entirety, whereas, as long as the internet exists, Bitcoin will be a functional system with a self-authenticating framework. That capacity to persist regardless of the actual price of Bitcoin and the deflationary nature of Bitcoin means that it has something which fiat does not – inherent value.
Bitcoin is based on a distributed database known as the “blockchain.” Blockchains are essentially decentralized virtual ledger books, replete with pages known as “blocks.” Each page in a ledger is composed of paragraph entries, which are the actual transactions in the block.
Blockchains store information in the form of numerical transactions, which are just numbers. We can consider these numbers digital assets, such as Bitcoin. The data in a blockchain is immutable and recorded only by consensus-based algorithms. Bitcoin is cryptographic and all transactions are direct, without intermediary, peer-to-peer.
Bitcoin does not require trust in a central bank. It requires trust on the technology behind it, which is open-source and may be evaluated by anyone at any time. Furthermore, it is impossible to manipulate as doing so would require all of the nodes in the network to be hacked at once – unlike the stock market which is manipulated by the government and “Market Makers”. Bitcoin is also private in that, though the ledge is openly distributed, it is encrypted. Bitcoin’s blockchain has one of the greatest redundancy and information disaster recovery systems ever developed.
Bitcoin has a distributed governance model in that it is controlled by its’ users. There is no need to trust a payment processor or bank, or even to pay fees to such entities. There are also no third-party fees for transaction processing. As the ledge is immutable and transparent it is never possible to change it – the data on the blockchain is permanent. The system is not easily susceptible to attacks as it is widely distributed. Furthermore, as users of Bitcoin have their private keys assigned to their transactions, they are virtually impossible to fake. No lengthy verification, reconciliation, nor clearing process exists with Bitcoin.
Bitcoin is based on a proof-of-work algorithm. Every transaction on the network has an associated mathetical “puzzle”. Computers known as miners compete to solve the complex cryptographic hash algorithm that comprises that puzzle. The solution is proof that the miner engaged in sufficient work. The puzzle is known as a nonce, a number used only once. There is only one major nonce at a time and it issues 12.5 Bitcoin. Once it is solved, the fact that the nonce has been solved is made public.
A block is mined on average of once every ten minutes. However, the blockchain checks every 2,016,000 minutes (approximately four years) if 201,600 blocks were mined. If it was faster, it increases difficulty by half, thereby deflating Bitcoin. If it was slower, it decreases, thereby inflating Bitcoin. It will continue to do this until zero Bitcoin are issued, projected at the year 2140. On the twelfth of May, 2020, the blockchain will halve the amount of Bitcoin issued when each nonce is guessed. When Bitcoin was first created, fifty were issued per block as a reward to miners. 6.25 BTC will be issued from that point on once each nonce is solved.
Unlike fiat, Bitcoin is a deflationary currency. As BTC becomes scarcer, demand for it will increase, also raising the price. In this, BTC is similar to gold. It is predictable in its’ output, unlike the USD, as it is based on a programmed supply. We can predict BTC’s deflation and inflation almost exactly, if not exactly. Only 21 million BTC will ever be produced, unless the entire network concedes to change the protocol – which is highly unlikely.
Some of the drawbacks to BTC include congestion. At peak congestion, it may take an entire day to process a Bitcoin transaction as only three to five transactions may be processed per second. Receiving priority on a payment may cost up to the equivalent of twenty dollars ($20). Bitcoin mining consumes enough energy in one day to power a single-family home for an entire week.

Trading or Investing?

The fundamental divide in trading revolves around the question of market structure. Many feel that the market operates totally randomly and its’ behavior cannot be predicted. For the purposes of this article, we will assume that the market has a structure, but that that structure is not perfect. That market structure naturally generates chart patterns as the market records prices in time. In order to determine when the stock market will crash, causing a major decline in BTC price, we will analyze an instrument, an exchange traded fund, which represents an index, as opposed to a particular stock. The price patterns of the various stocks in an index are effectively smoothed out. In doing so, a more technical picture arises. Perhaps the most popular of these is the SPDR S&P Standard and Poor 500 Exchange Traded Fund ($SPY).
In trading, little to no concern is given about value of underlying asset. We are concerned primarily about liquidity and trading ranges, which are the amount of value fluctuating on a short-term basis, as measured by volatility-implied trading ranges. Fundamental analysis plays a role, however markets often do not react to real-world factors in a logical fashion. Therefore, fundamental analysis is more appropriate for long-term investing.
The fundamental derivatives of a chart are time (x-axis) and price (y-axis). The primary technical indicator is price, as everything else is lagging in the past. Price represents current asking price and incorrectly implementing positions based on price is one of the biggest trading errors.
Markets and currencies ordinarily have noise, their tendency to back-and-fill, which must be filtered out for true pattern recognition. That noise does have a utility, however, in allowing traders second chances to enter favorable positions at slightly less favorable entry points. When you have any market with enough liquidity for historical data to record a pattern, then a structure can be divined. The market probes prices as part of an ongoing price-discovery process. Market technicians must sometimes look outside of the technical realm and use visual inspection to ascertain the relevance of certain patterns, using a qualitative eye that recognizes the underlying quantitative nature
Markets and instruments rise slower than they correct, however they rise much more than they fall. In the same vein, instruments can only fall to having no worth, whereas they could theoretically grow infinitely and have continued to grow over time. Money in a fiat system is illusory. It is a fundamentally synthetic instrument which has no intrinsic value. Hence, the recent seemingly illogical fluctuations in the market.
According to trade theory, the unending purpose of a market or instrument is to create and break price ranges according to the laws of supply and demand. We must determine when to trade based on each market inflection point as defined in price and in time as opposed to abandoning the trend (as the contrarian trading in this sub often does). Time and Price symmetry must be used to be in accordance with the trend. When coupled with a favorable risk to reward ratio, the ability to stay in the market for most of the defined time period, and adherence to risk management rules; the trader has a solid methodology for achieving considerable gains.
We will engage in a longer term market-oriented analysis to avoid any time-focused pressure. The Bitcoin market is open twenty-four-hours a day, so trading may be done when the individual is ready, without any pressing need to be constantly alert. Let alone, we can safely project months in advance with relatively high accuracy. Bitcoin is an asset which an individual can both trade and invest, however this article will be focused on trading due to the wide volatility in BTC prices over the short-term.

Technical Indicator Analysis of Bitcoin

Technical indicators are often considered self-fulfilling prophecies due to mass-market psychology gravitating towards certain common numbers yielded from them. They are also often discounted when it comes to BTC. That means a trader must be especially aware of these numbers as they can prognosticate market movements. Often, they are meaningless in the larger picture of things.
  • Volume – derived from the market itself, it is mostly irrelevant. The major problem with volume for stocks is that the US market open causes tremendous volume surges eradicating any intrinsic volume analysis. This does not occur with BTC, as it is open twenty-four-seven. At major highs and lows, the market is typically anemic. Most traders are not active at terminal discretes (peaks and troughs) because of levels of fear. Volume allows us confidence in time and price symmetry market inflection points, if we observe low volume at a foretold range of values. We can rationalize that an absolute discrete is usually only discovered and anticipated by very few traders. As the general market realizes it, a herd mentality will push the market in the direction favorable to defending it. Volume is also useful for swing trading, as chances for swing’s validity increases if an increase in volume is seen on and after the swing’s activation. Volume is steadily decreasing. Lows and highs are reached when volume is lower.
Therefore, due to the relatively high volume on the 12th of March, we can safely determine that a low for BTC was not reached.
  • VIX – Volatility Index, this technical indicator indicates level of fear by the amount of options-based “insurance” in portfolios. A low VIX environment, less than 20 for the S&P index, indicates a stable market with a possible uptrend. A high VIX, over 20, indicates a possible downtrend. VIX is essentially useless for BTC as BTC-based options do not exist. It allows us to predict the market low for $SPY, which will have an indirect impact on BTC in the short term, likely leading to the yearly low. However, it is equally important to see how VIX is changing over time, if it is decreasing or increasing, as that indicates increasing or decreasing fear. Low volatility allows high leverage without risk or rest. Occasionally, markets do rise with high VIX.
As VIX is unusually high, in the forties, we can be confident that a downtrend for the S&P 500 is imminent.
  • RSI (Relative Strength Index): The most important technical indicator, useful for determining highs and lows when time symmetry is not availing itself. Sometimes analysis of RSI can conflict in different time frames, easiest way to use it is when it is at extremes – either under 30 or over 70. Extremes can be used for filtering highs or lows based on time-and-price window calculations. Highly instructive as to major corrective clues and indicative of continued directional movement. Must determine if longer-term RSI values find support at same values as before. It is currently at 73.56.
  • Secondly, RSI may be used as a high or low filter, to observe the level that short-term RSI reaches in counter-trend corrections. Repetitions based on market movements based on RSI determine how long a trade should be held onto. Once a short term RSI reaches an extreme and stay there, the other RSI’s should gradually reach the same extremes. Once all RSI’s are at extreme highs, a trend confirmation should occur and RSI’s should drop to their midpoint.

Trend Definition Analysis of Bitcoin

Trend definition is highly powerful, cannot be understated. Knowledge of trend logic is enough to be a profitable trader, yet defining a trend is an arduous process. Multiple trends coexist across multiple time frames and across multiple market sectors. Like time structure, it makes the underlying price of the instrument irrelevant. Trend definitions cannot determine the validity of newly formed discretes. Trend becomes apparent when trades based in counter-trend inflection points continue to fail.
Downtrends are defined as an instrument making lower lows and lower highs that are recurrent, additive, qualified swing setups. Downtrends for all instruments are similar, except forex. They are fast and complete much quicker than uptrends. An average downtrend is 18 months, something which we will return to. An uptrend inception occurs when an instrument reaches a point where it fails to make a new low, then that low will be tested. After that, the instrument will either have a deep range retracement or it may take out the low slightly, resulting in a double-bottom. A swing must eventually form.
A simple way to roughly determine trend is to attempt to draw a line from three tops going upwards (uptrend) or a line from three bottoms going downwards (downtrend). It is not possible to correctly draw a downtrend line on the BTC chart, but it is possible to correctly draw an uptrend – indicating that the overall trend is downwards. The only mitigating factor is the impending stock market crash.

Time Symmetry Analysis of Bitcoin

Time is the movement from the past through the present into the future. It is a measurement in quantified intervals. In many ways, our perception of it is a human construct. It is more powerful than price as time may be utilized for a trade regardless of the market inflection point’s price. Were it possible to perfectly understand time, price would be totally irrelevant due to the predictive certainty time affords. Time structure is easier to learn than price, but much more difficult to apply with any accuracy. It is the hardest aspect of trading to learn, but also the most rewarding.
Humans do not have the ability to recognize every time window, however the ability to define market inflection points in terms of time is the single most powerful trading edge. Regardless, price should not be abandoned for time alone. Time structure analysis It is inherently flawed, as such the markets have a fail-safe, which is Price Structure. Even though Time is much more powerful, Price Structure should never be completely ignored. Time is the qualifier for Price and vice versa. Time can fail by tricking traders into counter-trend trading.
Time is a predestined trade quantifier, a filter to slow trades down, as it allows a trader to specifically focus on specific time windows and rest at others. It allows for quantitative measurements to reach deterministic values and is the primary qualifier for trends. Time structure should be utilized before price structure, and it is the primary trade criterion which requires support from price. We can see price structure on a chart, as areas of mathematical support or resistance, but we cannot see time structure.
Time may be used to tell us an exact point in the future where the market will inflect, after Price Theory has been fulfilled. In the present, price objectives based on price theory added to possible future times for market inflection points give us the exact time of market inflection points and price.
Time Structure is repetitions of time or inherent cycles of time, occurring in a methodical way to provide time windows which may be utilized for inflection points. They are not easily recognized and not easily defined by a price chart as measuring and observing time is very exact. Time structure is not a science, yet it does require precise measurements. Nothing is certain or definite. The critical question must be if a particular approach to time structure is currently lucrative or not.
We will measure it in intervals of 180 bars. Our goal is to determine time windows, when the market will react and when we should pay the most attention. By using time repetitions, the fact that market inflection points occurred at some point in the past and should, therefore, reoccur at some point in the future, we should obtain confidence as to when SPY will reach a market inflection point. Time repetitions are essentially the market’s memory. However, simply measuring the time between two points then trying to extrapolate into the future does not work. Measuring time is not the same as defining time repetitions. We will evaluate past sessions for market inflection points, whether discretes, qualified swings, or intra-range. Then records the times that the market has made highs or lows in a comparable time period to the future one seeks to trade in.
What follows is a time Histogram – A grouping of times which appear close together, then segregated based on that closeness. Time is aligned into combined histogram of repetitions and cycles, however cycles are irrelevant on a daily basis. If trading on an hourly basis, do not use hours.
  • Yearly Lows (last seven years): 1/1/13, 4/10/14, 1/15/15, 1/17/16, 1/1/17, 12/15/18, 2/6/19
  • Monthly Mode: 1, 1, 1, 1, 2, 4, 12
  • Daily Mode: 1, 1, 6, 10, 15, 15, 17
  • Monthly Lows (for the last year): 3/12/20 (10:00pm), 2/28/20 (7:09am), 1/2/20 (8:09pm), 12/18/19 (8:00am), 11/25/19 (1:00am), 10/24/19 (2:59am), 9/30/19 (2:59am), 8/29,19 (4:00am), 7/17/19 (7:59am), 6/4/19 (5:59pm), 5/1/19 (12:00am), 4/1/19 (12:00am)
  • Daily Lows Mode for those Months: 1, 1, 2, 4, 12, 17, 18, 24, 25, 28, 29, 30
  • Hourly Lows Mode for those Months (Military time): 0100, 0200, 0200, 0400, 0700, 0700, 0800, 1200, 1200, 1700, 2000, 2200
  • Minute Lows Mode for those Months: 00, 00, 00, 00, 00, 00, 09, 09, 59, 59, 59, 59
  • Day of the Week Lows (last twenty-six weeks):
Weighted Times are repetitions which appears multiple times within the same list, observed and accentuated once divided into relevant sections of the histogram. They are important in the presently defined trading time period and are similar to a mathematical mode with respect to a series. Phased times are essentially periodical patterns in histograms, though they do not guarantee inflection points
Evaluating the yearly lows, we see that BTC tends to have its lows primarily at the beginning of every year, with a possibility of it being at the end of the year. Following the same methodology, we get the middle of the month as the likeliest day. However, evaluating the monthly lows for the past year, the beginning and end of the month are more likely for lows.
Therefore, we have two primary dates from our histogram.
1/1/21, 1/15/21, and 1/29/21
2:00am, 8:00am, 12:00pm, or 10:00pm
In fact, the high for this year was February the 14th, only thirty days off from our histogram calculations.
The 8.6-Year Armstrong-Princeton Global Economic Confidence model states that 2.15 year intervals occur between corrections, relevant highs and lows. 2.15 years from the all-time peak discrete is February 9, 2020 – a reasonably accurate depiction of the low for this year (which was on 3/12/20). (Taking only the Armstrong model into account, the next high should be Saturday, April 23, 2022). Therefore, the Armstrong model indicates that we have actually bottomed out for the year!
Bear markets cannot exist in perpetuity whereas bull markets can. Bear markets will eventually have price objectives of zero, whereas bull markets can increase to infinity. It can occur for individual market instruments, but not markets as a whole. Since bull markets are defined by low volatility, they also last longer. Once a bull market is indicated, the trader can remain in a long position until a new high is reached, then switch to shorts. The average bear market is eighteen months long, giving us a date of August 19th, 2021 for the end of this bear market – roughly speaking. They cannot be shorter than fifteen months for a central-bank controlled market, which does not apply to Bitcoin. (Otherwise, it would continue until Sunday, September 12, 2021.) However, we should expect Bitcoin to experience its’ exponential growth after the stock market re-enters a bull market.
Terry Laundy’s T-Theory implemented by measuring the time of an indicator from peak to trough, then using that to define a future time window. It is similar to an head-and-shoulders pattern in that it is the process of forming the right side from a synthetic technical indicator. If the indicator is making continued lows, then time is recalculated for defining the right side of the T. The date of the market inflection point may be a price or indicator inflection date, so it is not always exactly useful. It is better to make us aware of possible market inflection points, clustered with other data. It gives us an RSI low of May, 9th 2020.
The Bradley Cycle is coupled with volatility allows start dates for campaigns or put options as insurance in portfolios for stocks. However, it is also useful for predicting market moves instead of terminal dates for discretes. Using dates which correspond to discretes, we can see how those dates correspond with changes in VIX.
Therefore, our timeline looks like:
  • 2/14/20 – yearly high ($10372 USD)
  • 3/12/20 – yearly low thus far ($3858 USD)
  • 5/9/20 – T-Theory true yearly low (BTC between 4863 and 3569)
  • 5/26/20 – hashrate difficulty halvening
  • 11/14/20 – stock market low
  • 1/15/21 – yearly low for BTC, around $8528
  • 8/19/21 – end of stock bear market
  • 11/26/21 – eighteen months from halvening, average peak from halvenings (BTC begins rising from $3000 area to above $23,312)
  • 4/23/22 – all-time high
Taken from my blog: http://aliamin.info/2020/
submitted by aibnsamin1 to Bitcoin [link] [comments]

Searching for the Unicorn Cryptocurrency

Searching for the Unicorn Cryptocurrency
For someone first starting out as a cryptocurrency investor, finding a trustworthy manual for screening a cryptocurrency’s merits is nonexistent as we are still in the early, Wild West days of the cryptocurrency market. One would need to become deeply familiar with the inner workings of blockchain to be able to perform the bare minimum due diligence.
One might believe, over time, that finding the perfect cryptocurrency may be nothing short of futile. If a cryptocurrency purports infinite scalability, then it is probably either lightweight with limited features or it is highly centralized among a limited number of nodes that perform consensus services especially Proof of Stake or Delegated Proof of Stake. Similarly, a cryptocurrency that purports comprehensive privacy may have technical obstacles to overcome if it aims to expand its applications such as in smart contracts. The bottom line is that it is extremely difficult for a cryptocurrency to have all important features jam-packed into itself.
The cryptocurrency space is stuck in the era of the “dial-up internet” in a manner of speaking. Currently blockchain can’t scale – not without certain tradeoffs – and it hasn’t fully resolved certain intractable issues such as user-unfriendly long addresses and how the blockchain size is forever increasing to name two.
In other words, we haven’t found the ultimate cryptocurrency. That is, we haven’t found the mystical unicorn cryptocurrency that ushers the era of decentralization while eschewing all the limitations of traditional blockchain systems.
“But wait – what about Ethereum once it implements sharding?”
“Wouldn’t IOTA be able to scale infinitely with smart contracts through its Qubic offering?”
“Isn’t Dash capable of having privacy, smart contracts, and instantaneous transactions?”
Those thoughts and comments may come from cryptocurrency investors who have done their research. It is natural for the informed investors to invest in projects that are believed to bring cutting edge technological transformation to blockchain. Sooner or later, the sinking realization will hit that any variation of the current blockchain technology will always likely have certain limitations.
Let us pretend that there indeed exists a unicorn cryptocurrency somewhere that may or may not be here yet. What would it look like, exactly? Let us set the 5 criteria of the unicorn cryptocurrency:
Unicorn Criteria
(1) Perfectly solves the blockchain trilemma:
o Infinite scalability
o Full security
o Full decentralization
(2) Zero or minimal transaction fee
(3) Full privacy
(4) Full smart contract capabilities
(5) Fair distribution and fair governance
For each of the above 5 criteria, there would not be any middle ground. For example, a cryptocurrency with just an in-protocol mixer would not be considered as having full privacy. As another example, an Initial Coin Offering (ICO) may possibly violate criterion (5) since with an ICO the distribution and governance are often heavily favored towards an oligarchy – this in turn would defy the spirit of decentralization that Bitcoin was found on.
There is no cryptocurrency currently that fits the above profile of the unicorn cryptocurrency. Let us examine an arbitrary list of highly hyped cryptocurrencies that meet the above list at least partially. The following list is by no means comprehensive but may be a sufficient sampling of various blockchain implementations:
Bitcoin (BTC)
Bitcoin is the very first and the best known cryptocurrency that started it all. While Bitcoin is generally considered extremely secure, it suffers from mining centralization to a degree. Bitcoin is not anonymous, lacks smart contracts, and most worrisomely, can only do about 7 transactions per seconds (TPS). Bitcoin is not the unicorn notwithstanding all the Bitcoin maximalists.
Ethereum (ETH)
Ethereum is widely considered the gold standard of smart contracts aside from its scalability problem. Sharding as part of Casper’s release is generally considered to be the solution to Ethereum’s scalability problem.
The goal of sharding is to split up validating responsibilities among various groups or shards. Ethereum’s sharding comes down to duplicating the existing blockchain architecture and sharing a token. This does not solve the core issue and simply kicks the can further down the road. After all, full nodes still need to exist one way or another.
Ethereum’s blockchain size problem is also an issue as will be explained more later in this article.
As a result, Ethereum is not the unicorn due to its incomplete approach to scalability and, to a degree, security.
Dash
Dash’s masternodes are widely considered to be centralized due to their high funding requirements, and there are accounts of a pre-mine in the beginning. Dash is not the unicorn due to its questionable decentralization.
Nano
Nano boasts rightfully for its instant, free transactions. But it lacks smart contracts and privacy, and it may be exposed to well orchestrated DDOS attacks. Therefore, it goes without saying that Nano is not the unicorn.
EOS
While EOS claims to execute millions of transactions per seconds, a quick glance reveals centralized parameters with 21 nodes and a questionable governance system. Therefore, EOS fails to achieve the unicorn status.
Monero (XMR)
One of the best known and respected privacy coins, Monero lacks smart contracts and may fall short of infinite scalability due to CryptoNote’s design. The unicorn rank is out of Monero’s reach.
IOTA
IOTA’s scalability is based on the number of transactions the network processes, and so its supposedly infinite scalability would fluctuate and is subject to the whims of the underlying transactions. While IOTA’s scalability approach is innovative and may work in the long term, it should be reminded that the unicorn cryptocurrency has no middle ground. The unicorn cryptocurrency would be expected to scale infinitely on a consistent basis from the beginning.
In addition, IOTA’s Masked Authenticated Messaging (MAM) feature does not bring privacy to the masses in a highly convenient manner. Consequently, the unicorn is not found with IOTA.

PascalCoin as a Candidate for the Unicorn Cryptocurrency
Please allow me to present a candidate for the cryptocurrency unicorn: PascalCoin.
According to the website, PascalCoin claims the following:
“PascalCoin is an instant, zero-fee, infinitely scalable, and decentralized cryptocurrency with advanced privacy and smart contract capabilities. Enabled by the SafeBox technology to become the world’s first blockchain independent of historical operations, PascalCoin possesses unlimited potential.”
The above summary is a mouthful to be sure, but let’s take a deep dive on how PascalCoin innovates with the SafeBox and more. Before we do this, I encourage you to first become acquainted with PascalCoin by watching the following video introduction:
https://www.youtube.com/watch?time_continue=4&v=F25UU-0W9Dk
The rest of this section will be split into 10 parts in order to illustrate most of the notable features of PascalCoin. Naturally, let’s start off with the SafeBox.
Part #1: The SafeBox
Unlike traditional UTXO-based cryptocurrencies in which the blockchain records the specifics of each transaction (address, sender address, amount of funds transferred, etc.), the blockchain in PascalCoin is only used to mutate the SafeBox. The SafeBox is a separate but equivalent cryptographic data structure that snapshots account balances. PascalCoin’s blockchain is comparable to a machine that feeds the most important data – namely, the state of an account – into the SafeBox. Any node can still independently compute and verify the cumulative Proof-of-Work required to construct the SafeBox.
The PascalCoin whitepaper elegantly highlights the unique historical independence that the SafeBox possesses:
“While there are approaches that cryptocurrencies could use such as pruning, warp-sync, "finality checkpoints", UTXO-snapshotting, etc, there is a fundamental difference with PascalCoin. Their new nodes can only prove they are on most-work-chain using the infinite history whereas in PascalCoin, new nodes can prove they are on the most-work chain without the infinite history.”
Some cryptocurrency old-timers might instinctively balk at the idea of full nodes eschewing the entire history for security, but such a reaction would showcase a lack of understanding on what the SafeBox really does.
A concrete example would go a long way to best illustrate what the SafeBox does. Let’s say I input the following operations in my calculator:
5 * 5 – 10 / 2 + 5
It does not take a genius to calculate the answer, 25. Now, the expression “5 \ 5 – 10 / 2 + 5”* would be forever imbued on a traditional blockchain’s history. But the SafeBox begs to differ. It says that the expression “5 \ 5 – 10 / 2 + 5”* should instead be simply “25” so as preserve simplicity, time, and space. In other words, the SafeBox simply preserves the account balance.
But some might still be unsatisfied and claim that if one cannot trace the series of operations (transactions) that lead to the final number (balance) of 25, the blockchain is inherently insecure.
Here are four important security aspects of the SafeBox that some people fail to realize:
(1) SafeBox Follows the Longest Chain of Proof-of-Work
The SafeBox mutates itself per 100 blocks. Each new SafeBox mutation must reference both to the previous SafeBox mutation and the preceding 100 blocks in order to be valid, and the resultant hash of the new mutated SafeBox must then be referenced by each of the new subsequent blocks, and the process repeats itself forever.
The fact that each new SafeBox mutation must reference to the previous SafeBox mutation is comparable to relying on the entire history. This is because the previous SafeBox mutation encapsulates the result of cumulative entire history except for the 100 blocks which is why each new SafeBox mutation requires both the previous SafeBox mutation and the preceding 100 blocks.
So in a sense, there is a single interconnected chain of inflows and outflows, supported by Byzantine Proof-of-Work consensus, instead of the entire history of transactions.
More concretely, the SafeBox follows the path of the longest chain of Proof-of-Work simply by design, and is thus cryptographically equivalent to the entire history even without tracing specific operations in the past. If the chain is rolled back with a 51% attack, only the attacker’s own account(s) in the SafeBox can be manipulated as is explained in the next part.
(2) A 51% Attack on PascalCoin Functions the Same as Others
A 51% attack on PascalCoin would work in a similar way as with other Proof-of-Work cryptocurrencies. An attacker cannot modify a transaction in the past without affecting the current SafeBox hash which is accepted by all honest nodes.
Someone might claim that if you roll back all the current blocks plus the 100 blocks prior to the SafeBox’s mutation, one could create a forged SafeBox with different balances for all accounts. This would be incorrect as one would be able to manipulate only his or her own account(s) in the SafeBox with a 51% attack – just as is the case with other UTXO cryptocurrencies. The SafeBox stores the balances of all accounts which are in turn irreversibly linked only to their respective owners’ private keys.
(3) One Could Preserve the Entire History of the PascalCoin Blockchain
No blockchain data in PascalCoin is ever deleted even in the presence of the SafeBox. Since the SafeBox is cryptographically equivalent to a full node with the entire history as explained above, PascalCoin full nodes are not expected to contain infinite history. But for whatever reason(s) one may have, one could still keep all the PascalCoin blockchain history as well along with the SafeBox as an option even though it would be redundant.
Without storing the entire history of the PascalCoin blockchain, you can still trace the specific operations of the 100 blocks prior to when the SafeBox absorbs and reflects the net result (a single balance for each account) from those 100 blocks. But if you’re interested in tracing operations over a longer period in the past – as redundant as that may be – you’d have the option to do so by storing the entire history of the PascalCoin blockchain.
(4) The SafeBox is Equivalent to the Entire Blockchain History
Some skeptics may ask this question: “What if the SafeBox is forever lost? How would you be able to verify your accounts?” Asking this question is tantamount to asking to what would happen to Bitcoin if all of its entire history was erased. The result would be chaos, of course, but the SafeBox is still in line with the general security model of a traditional blockchain with respect to black swans.
Now that we know the security of the SafeBox is not compromised, what are the implications of this new blockchain paradigm? A colorful illustration as follows still wouldn’t do justice to the subtle revolution that the SafeBox ushers. The automobiles we see on the street are the cookie-and-butter representation of traditional blockchain systems. The SafeBox, on the other hand, supercharges those traditional cars to become the Transformers from Michael Bay’s films.
The SafeBox is an entirely different blockchain architecture that is impressive in its simplicity and ingenuity. The SafeBox’s design is only the opening act for PascalCoin’s vast nuclear arsenal. If the above was all that PascalCoin offers, it still wouldn’t come close to achieving the unicorn status but luckily, we have just scratched the surface. Please keep on reading on if you want to learn how PascalCoin is going to shatter the cryptocurrency industry into pieces. Buckle down as this is going to be a long read as we explore further about the SafeBox’s implications.
Part #2: 0-Confirmation Transactions
To begin, 0-confirmation transactions are secure in PascalCoin thanks to the SafeBox.
The following paraphrases an explanation of PascalCoin’s 0-confirmations from the whitepaper:
“Since PascalCoin is not a UTXO-based currency but rather a State-based currency thanks to the SafeBox, the security guarantee of 0-confirmation transactions are much stronger than in UTXO-based currencies. For example, in Bitcoin if a merchant accepts a 0-confirmation transaction for a coffee, the buyer can simply roll that transaction back after receiving the coffee but before the transaction is confirmed in a block. The way the buyer does this is by re-spending those UTXOs to himself in a new transaction (with a higher fee) thus invalidating them for the merchant. In PascalCoin, this is virtually impossible since the buyer's transaction to the merchant is simply a delta-operation to debit/credit a quantity from/to accounts respectively. The buyer is unable to erase or pre-empt this two-sided, debit/credit-based transaction from the network’s pending pool until it either enters a block for confirmation or is discarded with respect to both sender and receiver ends. If the buyer tries to double-spend the coffee funds after receiving the coffee but before they clear, the double-spend transaction will not propagate the network since nodes cannot propagate a double-spending transaction thanks to the debit/credit nature of the transaction. A UTXO-based transaction is initially one-sided before confirmation and therefore is more exposed to one-sided malicious schemes of double spending.”
Phew, that explanation was technical but it had to be done. In summary, PascalCoin possesses the only secure 0-confirmation transactions in the cryptocurrency industry, and it goes without saying that this means PascalCoin is extremely fast. In fact, PascalCoin is capable of 72,000 TPS even prior to any additional extensive optimizations down the road. In other words, PascalCoin is as instant as it gets and gives Nano a run for its money.
Part #3: Zero Fee
Let’s circle back to our discussion of PascalCoin’s 0-confirmation capability. Here’s a little fun magical twist to PascalCoin’s 0-confirmation magic: 0-confirmation transactions are zero-fee. As in you don’t pay a single cent in fee for each 0-confirmation! There is just a tiny downside: if you create a second transaction in a 5-minute block window then you’d need to pay a minimal fee. Imagine using Nano but with a significantly stronger anti-DDOS protection for spam! But there shouldn’t be any complaint as this fee would amount to 0.0001 Pascal or $0.00002 based on the current price of a Pascal at the time of this writing.
So, how come the fee for blazingly fast transactions is nonexistent? This is where the magic of the SafeBox arises in three ways:
(1) PascalCoin possesses the secure 0-confirmation feature as discussed above that enables this speed.
(2) There is no fee bidding competition of transaction priority typical in UTXO cryptocurrencies since, once again, PascalCoin operates on secure 0-confirmations.
(3) There is no fee incentive needed to run full nodes on behalf of the network’s security beyond the consensus rewards.
Part #4: Blockchain Size
Let’s expand more on the third point above, using Ethereum as an example. Since Ethereum’s launch in 2015, its full blockchain size is currently around 2 TB, give or take, but let’s just say its blockchain size is 100 GB for now to avoid offending the Ethereum elitists who insist there are different types of full nodes that are lighter. Whoever runs Ethereum’s full nodes would expect storage fees on top of the typical consensus fees as it takes significant resources to shoulder Ethereum’s full blockchain size and in turn secure the network. What if I told you that PascalCoin’s full blockchain size will never exceed few GBs after thousands of years? That is just what the SafeBox enables PascalCoin to do so. It is estimated that by 2072, PascalCoin’s full nodes will only be 6 GB which is low enough not to warrant any fee incentives for hosting full nodes. Remember, the SafeBox is an ultra-light cryptographic data structure that is cryptographically equivalent to a blockchain with the entire transaction history. In other words, the SafeBox is a compact spreadsheet of all account balances that functions as PascalCoin’s full node!
Not only does the SafeBox’s infinitesimal memory size helps to reduce transaction fees by phasing out any storage fees, but it also paves the way for true decentralization. It would be trivial for every PascalCoin user to opt a full node in the form of a wallet. This is extreme decentralization at its finest since the majority of users of other cryptocurrencies ditch full nodes due to their burdensome sizes. It is naïve to believe that storage costs would reduce enough to the point where hosting full nodes are trivial. Take a look at the following chart outlining the trend of storage cost.

* https://www.backblaze.com/blog/hard-drive-cost-per-gigabyte/
As we can see, storage costs continue to decrease but the descent is slowing down as is the norm with technological improvements. In the meantime, blockchain sizes of other cryptocurrencies are increasing linearly or, in the case of smart contract engines like Ethereum, parabolically. Imagine a cryptocurrency smart contract engine like Ethereum garnering worldwide adoption; how do you think Ethereum’s size would look like in the far future based on the following chart?


https://i.redd.it/k57nimdjmo621.png

Ethereum’s future blockchain size is not looking pretty in terms of sustainable security. Sharding is not a fix for this issue since there still needs to be full nodes but that is a different topic for another time.
It is astonishing that the cryptocurrency community as a whole has passively accepted this forever-expanding-blockchain-size problem as an inescapable fate.
PascalCoin is the only cryptocurrency that has fully escaped the death vortex of forever expanding blockchain size. Its blockchain size wouldn’t exceed 10 GB even after many hundreds of years of worldwide adoption. Ethereum’s blockchain size after hundreds of years of worldwide adoption would make fine comedy.
Part #5: Simple, Short, and Ordinal Addresses
Remember how the SafeBox works by snapshotting all account balances? As it turns out, the account address system is almost as cool as the SafeBox itself.
Imagine yourself in this situation: on a very hot and sunny day, you’re wandering down the street across from your house and ran into a lemonade stand – the old-fashioned kind without any QR code or credit card terminal. The kid across you is selling a lemonade cup for 1 Pascal with a poster outlining the payment address as 5471-55. You flip out your phone and click “Send” with 1 Pascal to the address 5471-55; viola, exactly one second later you’re drinking your lemonade without paying a cent for the transaction fee!
The last thing one wants to do is to figure out how to copy/paste to, say, the following address 1BoatSLRHtKNngkdXEeobR76b53LETtpyT on the spot wouldn’t it? Gone are the obnoxiously long addresses that plague all cryptocurrencies. The days of those unreadable addresses will be long gone – it has to be if blockchain is to innovate itself for the general public. EOS has a similar feature for readable addresses but in a very limited manner in comparison, and nicknames attached to addresses in GUIs don’t count since blockchain-wide compatibility wouldn’t hold.
Not only does PascalCoin has the neat feature of having addresses (called PASAs) that amount to up to 6 or 7 digits, but PascalCoin can also incorporate in-protocol address naming as opposed to GUI address nicknames. Suppose I want to order something from Amazon using Pascal; I simply search the word “Amazon” then the corresponding account number shows up. Pretty neat, right?
The astute reader may gather that PascalCoin’s address system makes it necessary to commoditize addresses, and he/she would be correct. Some view this as a weakness; part #10 later in this segment addresses this incorrect perception.
Part #6: Privacy
As if the above wasn’t enough, here’s another secret that PascalCoin has: it is a full-blown privacy coin. It uses two separate foundations to achieve comprehensive anonymity: in-protocol mixer for transfer amounts and zn-SNARKs for private balances. The former has been implemented and the latter is on the roadmap. Both the 0-confirmation transaction and the negligible transaction fee would make PascalCoin the most scalable privacy coin of any other cryptocurrencies pending the zk-SNARKs implementation.
Part #7: Smart Contracts
Next, PascalCoin will take smart contracts to the next level with a layer-2 overlay consensus system that pioneers sidechains and other smart contract implementations.
In formal terms, this layer-2 architecture will facilitate the transfer of data between PASAs which in turn allows clean enveloping of layer-2 protocols inside layer-1 much in the same way that HTTP lives inside TCP.
To summarize:
· The layer-2 consensus method is separate from the layer-1 Proof-of-Work. This layer-2 consensus method is independent and flexible. A sidechain – based on a single encompassing PASA – could apply Proof-of-Stake (POS), Delegated Proof-of-Stake (DPOS), or Directed Acyclic Graph (DAG) as the consensus system of its choice.
· Such a layer-2 smart contract platform can be written in any languages.
· Layer-2 sidechains will also provide very strong anonymity since funds are all pooled and keys are not used to unlock them.
· This layer-2 architecture is ingenious in which the computation is separate from layer-2 consensus, in effect removing any bottleneck.
· Horizontal scaling exists in this paradigm as there is no interdependence between smart contracts and states are not managed by slow sidechains.
· Speed and scalability are fully independent of PascalCoin.
One would be able to run the entire global financial system on PascalCoin’s infinitely scalable smart contract platform and it would still scale infinitely. In fact, this layer-2 architecture would be exponentially faster than Ethereum even after its sharding is implemented.
All this is the main focus of PascalCoin’s upcoming version 5 in 2019. A whitepaper add-on for this major upgrade will be released in early 2019.
Part #8: RandomHash Algorithm
Surely there must be some tradeoffs to PascalCoin’s impressive capabilities, you might be asking yourself. One might bring up the fact that PascalCoin’s layer-1 is based on Proof-of-Work and is thus susceptible to mining centralization. This would be a fallacy as PascalCoin has pioneered the very first true ASIC, GPU, and dual-mining resistant algorithm known as RandomHash that obliterates anything that is not CPU based and gives all the power back to solo miners.
Here is the official description of RandomHash:
“RandomHash is a high-level cryptographic hash algorithm that combines other well-known hash primitives in a highly serial manner. The distinguishing feature is that calculations for a nonce are dependent on partial calculations of other nonces, selected at random. This allows a serial hasher (CPU) to re-use these partial calculations in subsequent mining saving 50% or more of the work-load. Parallel hashers (GPU) cannot benefit from this optimization since the optimal nonce-set cannot be pre-calculated as it is determined on-the-fly. As a result, parallel hashers (GPU) are required to perform the full workload for every nonce. Also, the algorithm results in 10x memory bloat for a parallel implementation. In addition to its serial nature, it is branch-heavy and recursive making in optimal for CPU-only mining.”
One might be understandably skeptical of any Proof-of-Work algorithm that solves ASIC and GPU centralization once for all because there have been countless proposals being thrown around for various algorithms since the dawn of Bitcoin. Is RandomHash truly the ASIC & GPU killer that it claims to be?
Herman Schoenfeld, the inventor behind RandomHash, described his algorithm in the following:
“RandomHash offers endless ASIC-design breaking surface due to its use of recursion, hash algo selection, memory hardness and random number generation.
For example, changing how round hash selection is made and/or random number generator algo and/or checksum algo and/or their sequencing will totally break an ASIC design. Conceptually if you can significantly change the structure of the output assembly whilst keeping the high-level algorithm as invariant as possible, the ASIC design will necessarily require proportional restructuring. This results from the fact that ASIC designs mirror the ASM of the algorithm rather than the algorithm itself.”
Polyminer1 (pseudonym), one of the members of the PascalCoin core team who developed RHMiner (official software for mining RandomHash), claimed as follows:
“The design of RandomHash is, to my experience, a genuine innovation. I’ve been 30 years in the field. I’ve rarely been surprised by anything. RandomHash was one of my rare surprises. It’s elegant, simple, and achieves resistance in all fronts.”
PascalCoin may have been the first party to achieve the race of what could possibly be described as the “God algorithm” for Proof-of-Work cryptocurrencies. Look no further than one of Monero’s core developers since 2015, Howard Chu. In September 2018, Howard declared that he has found a solution, called RandomJS, to permanently keep ASICs off the network without repetitive algorithm changes. This solution actually closely mirrors RandomHash’s algorithm. Discussing about his algorithm, Howard asserted that “RandomJS is coming at the problem from a direction that nobody else is.”
Link to Howard Chu’s article on RandomJS:
https://www.coindesk.com/one-musicians-creative-solution-to-drive-asics-off-monero
Yet when Herman was asked about Howard’s approach, he responded:
“Yes, looks like it may work although using Javascript was a bit much. They should’ve just used an assembly subset and generated random ASM programs. In a way, RandomHash does this with its repeated use of random mem-transforms during expansion phase.”
In the end, PascalCoin may have successfully implemented the most revolutionary Proof-of-Work algorithm, one that eclipses Howard’s burgeoning vision, to date that almost nobody knows about. To learn more about RandomHash, refer to the following resources:
RandomHash whitepaper:
https://www.pascalcoin.org/storage/whitepapers/RandomHash_Whitepaper.pdf
Technical proposal for RandomHash:
https://github.com/PascalCoin/PascalCoin/blob/mastePIP/PIP-0009.md
Someone might claim that PascalCoin still suffers from mining centralization after RandomHash, and this is somewhat misleading as will be explained in part #10.
Part #9: Fair Distribution and Governance
Not only does PascalCoin rest on superior technology, but it also has its roots in the correct philosophy of decentralized distribution and governance. There was no ICO or pre-mine, and the developer fund exists as a percentage of mining rewards as voted by the community. This developer fund is 100% governed by a decentralized autonomous organization – currently facilitated by the PascalCoin Foundation – that will eventually be transformed into an autonomous smart contract platform. Not only is the developer fund voted upon by the community, but PascalCoin’s development roadmap is also voted upon the community via the Protocol Improvement Proposals (PIPs).
This decentralized governance also serves an important benefit as a powerful deterrent to unseemly fork wars that befall many cryptocurrencies.
Part #10: Common Misconceptions of PascalCoin
“The branding is terrible”
PascalCoin is currently working very hard on its image and is preparing for several branding and marketing initiatives in the short term. For example, two of the core developers of the PascalCoin recently interviewed with the Fox Business Network. A YouTube replay of this interview will be heavily promoted.
Some people object to the name PascalCoin. First, it’s worth noting that PascalCoin is the name of the project while Pascal is the name of the underlying currency. Secondly, Google and YouTube received excessive criticisms back then in the beginning with their name choices. Look at where those companies are nowadays – surely a somewhat similar situation faces PascalCoin until the name’s familiarity percolates into the public.
“The wallet GUI is terrible”
As the team is run by a small yet extremely dedicated developers, multiple priorities can be challenging to juggle. The lack of funding through an ICO or a pre-mine also makes it challenging to accelerate development. The top priority of the core developers is to continue developing full-time on the groundbreaking technology that PascalCoin offers. In the meantime, an updated and user-friendly wallet GUI has been worked upon for some time and will be released in due time. Rome wasn’t built in one day.
“One would need to purchase a PASA in the first place”
This is a complicated topic since PASAs need to be commoditized by the SafeBox’s design, meaning that PASAs cannot be obtained at no charge to prevent systematic abuse. This raises two seemingly valid concerns:
· As a chicken and egg problem, how would one purchase a PASA using Pascal in the first place if one cannot obtain Pascal without a PASA?
· How would the price of PASAs stay low and affordable in the face of significant demand?
With regards to the chicken and egg problem, there are many ways – some finished and some unfinished – to obtain your first PASA as explained on the “Get Started” page on the PascalCoin website:
https://www.pascalcoin.org/get_started
More importantly, however, is the fact that there are few methods that can get your first PASA for free. The team will also release another method soon in which you could obtain your first PASA for free via a single SMS message. This would probably become by far the simplest and the easiest way to obtain your first PASA for free. There will be more new ways to easily obtain your first PASA for free down the road.
What about ensuring the PASA market at large remains inexpensive and affordable following your first (and probably free) PASA acquisition? This would be achieved in two ways:
· Decentralized governance of the PASA economics per the explanation in the FAQ section on the bottom of the PascalCoin website (https://www.pascalcoin.org/)
· Unlimited and free pseudo-PASAs based on layer-2 in the next version release.
“PascalCoin is still centralized after the release of RandomHash”
Did the implementation of RandomHash from version 4 live up to its promise?
The official goals of RandomHash were as follow:
(1) Implement a GPU & ASIC resistant hash algorithm
(2) Eliminate dual mining
The two goals above were achieved by every possible measure.
Yet a mining pool, Nanopool, was able to regain its hash majority after a significant but a temporary dip.
The official conclusion is that, from a probabilistic viewpoint, solo miners are more profitable than pool miners. However, pool mining is enticing for solo miners who 1) have limited hardware as it ensures a steady income instead of highly profitable but probabilistic income via solo mining, and 2) who prefer convenient software and/or GUI.
What is the next step, then? While the barrier of entry for solo miners has successfully been put down, additional work needs to be done. The PascalCoin team and the community are earnestly investigating additional steps to improve mining decentralization with respect to pool mining specifically to add on top of RandomHash’s successful elimination of GPU, ASIC, and dual-mining dominance.
It is likely that the PascalCoin community will promote the following two initiatives in the near future:
(1) Establish a community-driven, nonprofit mining pool with attractive incentives.
(2) Optimize RHMiner, PascalCoin’s official solo mining software, for performance upgrades.
A single pool dominance is likely short lived once more options emerge for individual CPU miners who want to avoid solo mining for whatever reason(s).
Let us use Bitcoin as an example. Bitcoin mining is dominated by ASICs and mining pools but no single pool is – at the time of this writing – even close on obtaining the hash majority. With CPU solo mining being a feasible option in conjunction with ASIC and GPU mining eradication with RandomHash, the future hash rate distribution of PascalCoin would be far more promising than Bitcoin’s hash rate distribution.
PascalCoin is the Unicorn Cryptocurrency
If you’ve read this far, let’s cut straight to the point: PascalCoin IS the unicorn cryptocurrency.
It is worth noting that PascalCoin is still a young cryptocurrency as it was launched at the end of 2016. This means that many features are still work in progress such as zn-SNARKs, smart contracts, and pool decentralization to name few. However, it appears that all of the unicorn criteria are within PascalCoin’s reach once PascalCoin’s technical roadmap is mostly completed.
Based on this expository on PascalCoin’s technology, there is every reason to believe that PascalCoin is the unicorn cryptocurrency. PascalCoin also solves two fundamental blockchain problems beyond the unicorn criteria that were previously considered unsolvable: blockchain size and simple address system. The SafeBox pushes PascalCoin to the forefront of cryptocurrency zeitgeist since it is a superior solution compared to UTXO, Directed Acyclic Graph (DAG), Block Lattice, Tangle, and any other blockchain innovations.


THE UNICORN

Author: Tyler Swob
submitted by Kosass to CryptoCurrency [link] [comments]

[HALVING MEGATHREAD] Block 420000 has been mined. Mining reward is now 12.5 BTC per block. The second halvening is now complete!

As of now, 420,000 blocks have been mined on the Bitcoin network, and the block reward has successfully halved for the second time. The previous block reward was 25 BTC, and the new block reward is now 12.5 BTC. Since the previous halving at Block 210000, monetary inflation decreased from 12.5% to 8.33%. Block 420000 signals an immediate 50% reduction to 4.17%. The next halving will occur at Block 630000 in approximately four years. Godspeed, Bitcoin!
Here's Block 420000 in all its glory!
{ "hash": "000000000000000002cce816c0ab2c5c269cb081896b7dcb34b8422d6b74ffa1", "confirmations": "1", "height": "420000", "version": "536870912", "merkleroot": "028323a5bcacb0057274ee0a4366e5671278bc736b57176d9bb929c3a69e0ffa", "time": "1468082773", "nonce": "2193437364", "bits": "180526fd", "difficulty": "213398925331.324", "previousblockhash": "000000000000000003035bc31911d3eea46c8a23b36d6d558141d1d09cc960cf", } 
coinbase transaction: 16.66666666 BTC + -3.59096985 BTC in fees (this line was automatically fetched from blockchain.info which was reporting inaccurate info and has since been fixed. insight.bitpay.com appears correct.)
actual coinbase transaction: 13.07569681 BTC + 0.57569681 BTC in fees
block size: 999.838 KB
transactions: 1257
total bitcoins: 15,750,000
remaining bitcoins: ~5,250,000
previous halving: 3 years 7 months 11 days 1 hours 21 minutes 35 seconds ago
[plot.ly chart] [Controlled Supply] [Bitcoin Clock]
[blockchain.info] [insight.io] [tradeblock.com] [blocktrail.com] [blockr.io] [blockexplorer.com]
submitted by BashCo to Bitcoin [link] [comments]

r/Bitcoin recap - January 2019

Hi Bitcoiners!
I’m back with the 25th monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in January 2019
Adoption * The number of daily bitcoin transactions has been increasing rapidly again (10 Jan) * Bitcoin ads in Tokyo (11 Jan) * A fish-market in San Diego accepting bitcoin (12 Jan) * A discussion on handing out bitcoin at work (14 Jan) * Bitcoin transactions have increased by 50% over 6 months, with fees at a 2 year low (16 Jan) * LocalBitcoins has more volume than the Venezuelan stock market (16 Jan) * A popular content creator deletes his Patreon account and starts accepting bitcoin (16 Jan) * Buying bitcoin at one of 20k coinstar machines (17 Jan) * A story from a European teacher working in China using bitcoin to send money home (22 Jan) * Germany has 1/5th of the world’s Bitcoin nodes (23 Jan) * SatoshiLabs’ Lightning Node routes over 1 btc in transactions in one day (27 Jan) * Someone in Cambodia uses the Lightning Network and Bitrefill to pay their $1 weekly phone bill (30 Jan) * The Lightning Network reaches 600 btc in capacity (30 Jan)
Development * A special thank you to all the Bitcoin Core contributors in 2018 (1 Jan) * A discussion on the need for a lightning network stress test (6 Jan) * New Lightning apps made at the Seoul Bitcoin Lightning Hackathon (7 Jan) * Wasabi wallet can now mix large amounts faster (12 Jan) * Bitcoin Core developer Adam Gibson talks about fungibility, privacy and coinjoin (16 Jan) * A new Bitcoin developers school is launched in Switzerland (28 Jan)
Security * Bitcoin’s immune system (2 Jan) * A discussion on the importance of running full nodes after an attack on another cryptocurrency (8 Jan) * Google Play store requires Samourai Wallet to disable some of its security features (8 Jan) * The Kraken exchange CEO warns users to not store coins on an exchange if you’re not actively trading (16 Jan) * LocalBitcoins.com is compromised (26 Jan)
Mining * Bitmain lost 28% of its bitcoin mining market share in 6 months (2 Jan) * An analysis of a strange nonce pattern in Bitcoin since block 400k (7 Jan) * Bitcoin mining becomes more decentralized as Bitmain loses dominance (18 Jan)
Business * Overstock becomes the first major US company to pay taxes in bitcoin (4 Jan) * Gemini exchange promises it will start using SegWit, Bech32 addresses and transaction batching by the end of Q1 2019 (7 Jan) * Gab emails its 850k users about its switch to Bitcoin (9 Jan) * Bitrefill launches a Lightning channel opening service (9 Jan) * Jihan Wu is stepping down from his role as CEO of Bitmain according to an insider leak (10 Jan) * Bitcoin crowdfunding powered by BTCPay (10 Jan) * Bitmain shuts down its btc.com office (14 Jan) * One of the biggest banks in the Netherlands launches a bitcoin wallet (23 Jan) * A ‘leaked’ photo shows that the Samsung Galaxy 10 has a cryptocurrency wallet (24 Jan) * Data collection by bitcoin businesses (29 Jan) * Fidelity will launch its bitcoin custody service in March (30 Jan) * Paxful a P2P bitcoin marketplace, launches its second school in Rwanda (31 Jan) * The QuadrigaCX exchange goes bankrupt after losing access to its cold wallets (31 Jan)
Research * Data on the Proof of Keys event over the last 9 years (2 Jan) * 50% of the bitcoin supply hasn’t moved in a year (10 Jan) * A rebuttal to the reports of Bitcoin’s environmental damage (31 Jan)
Education * Bitcoin’s first block was mined 6 days after its genesis block (10 Jan) * TIME on why Bitcoin matters for freedom (24 Jan) * A simple explainer video of the Lightning Network (27 Jan)
Regulation & Politics * Coinbase bans Gab.com and its founder (5 Jan) * Some Yellow Vests in France are calling on their supporters to withdraw their money from the banks (8 Jan) * Wyoming introduces bill offering cryptocurrencies legal clarity (19 Jan) * The government of Zimbabwe shuts down the Internet country-wide and hurts its economy (21 Jan) * Venezuela’s new interim president is pro-bitcoin (25 Jan) * Iran lifts its Bitcoin ban (29 Jan)
Archeology (Financial Incumbents) * The European Central Bank has printed €2.85T since 2015 to help sustain the EU economy (4 Jan) * Some of the Yellow Vests in France are calling upon supporters to withdraw money from the banks (8 Jan) * EU fines Mastercard for €570M for high fees (22 Jan)
Price & Trading * Don’t look at ATHs, look at yearly lows (3 Jan) * Whenever you doubt your investing decisions, remember this guy (4 Jan) * Someone creates an open-source terminal dashboard for automated trading and charting (15 Jan)
Fun & Other * Someone put 5% of their paycheck into bitcoin for 3 years (1 Jan) * Bitcoin featured in The Times newspaper on its 10th anniversary (2 Jan) * Bitcoin was launched 10 years ago (3 Jan) * A “How to use bitcoin anonymously” article gets banned on Medium (5 Jan) * A street art treasure hunt in Paris with a Bitcoin puzzle (7 Jan) * An AMA with the co-founder of Wasabi Wallet (7 Jan) * People are trying to encourage others to quit smoking and acquire bitcoin with those savings (8 Jan) * 10 years since Hal Finney’s “Running Bitcoin” tweet (9 Jan) * Gab calls bitcoin “free speech money” (9 Jan) * Nick Szabo on Central Banks, gold and bitcoin (11 Jan) * A discussion on the public perception of ‘hodl’ (12 Jan) * A Twitch streamer receives 20 bitcoin in donations (13 Jan) * The Paris bitcoin puzzle was solved (14 Jan) * An AMA by Blockstream (16 Jan) * The challenges of launching a new cryptocurrency with Proof-of-Work today (16 Jan) * A bitcoin logo on a football team’s shirts in Israel (21 Jan) * Buckminster Fuller on an energy-value system in 1981 (22 Jan) * Someone started anonymously broadcasting messages over Blockstream’s satellites (24 Jan) * Bitcoin is inspiring a new generation of investors (28 Jan) * A story from someone who lost ~$2M USD in btc (29 Jan) * A discussion on tokenization in stock and bonds trading (31 Jan)
submitted by SamWouters to Bitcoin [link] [comments]

Let us not forget the original reason we needed the NYA agreement in the first place. Centralization in mining manufacturing has allowed for pools to grow too powerful, granting them the power to veto protocol changes, giving them bargaining powers where there should be none.

SegWit2x through the NYA agreement was a compromise with a group of Chinese mining pools who all march to the beat of the same drum. Antpool, ViaBTC, BTC.TOP, btc.com, CANOE, bitcoin.com are all financially linked or linked through correlated behavior. Antpool, ConnectBTC and btc.com being directly controlled by bitmain, and ViaBTC and Bitmain have a "shared investor relationship". If bitmain is against position A, then all those other pools have historically followed its footsteps. As Jimmy Song explains here the NYA compromise was because only a small minority of individuals with a disproportionate amount of hashrate were against Segwit (Bitmain and subsidiaries listed above), where the rest of the majority of signatories of NYA were pro-segwit. The purpose of the compromise was to prevent a chain split, which would cause damage to the ecosystem and a loss of confidence in bitcoin generally.
At current time of calculation, according to blockchain.info hashrate charts, these pools account for 47.6% of the hashrate. What does it matter if these pools are running a shell game of different subsidiaries or CEO's if they all follow a single individual's orders? 47.6% is enough hashrate right now to preform a 51% attack on the network with mining luck factored in. This statistic alone should demonstrate the enormous threat that Bitmain has placed on the entire bitcoin ecosystem. It has compromised the decentralized model of mining through monopolizing ASIC manufacturing which has lead to a scenario in which bitcoins security model is threatened.
But let us explore the reasoning behind these individuals actions by taking a look at history. First, Bitmain has consistently supported consensus breaking alternative clients by supporting bitcoin classic, supporting Bitcoin Unlimited and its horrifically broken "emergent consensus" algorithm, responding to BIP148 with a UAHF declaration, and then once realizing that BIP148/BIP91 would be successful at activating Segwit without splitting the network Bitmain abandoned its attempt at a "UAHF", and admitted that bitcoin cash is based on the UAHF on their blog post. The very notion of attempting to compromise with an entity to prevent a split that is supporting a split is illogical by nature and a pointless exercise.
Let us not forget that Bitmain was so diametrically opposed to Segwit that it sabatoged Litecoins Segwit Activation period to prevent Segwit from activating on Litecoin. Do these actions sound like a rational actor who has the best interests of bitcoin at heart? Or does this sound like an authoritarian regime that wants to stifle information at any cost to prevent the public from seeing the benefits that SegWit provides?
But the real question must still be asked. Why? Why would Bitmain who is so focused on increasing the blocksize to reduce fee pressure delay a protocol upgrade that both increases blocksize and reduces fee pressure? If miners are financially incentivized to behave in a way in which is economically favorable to bitcoin, then why would they purposefully sabatoge protocol improvements that will increase the long term success survival of bitcoin?
There is plenty of evidence that suggests covert ASICBOOST, a mechanism in which a ASIC miner short cuts bitcoins proof of work process (grinding nonce, transaction ordering) and an innovation that Bitmain holds a patent for in China is the real reason Bitmain originally blocked SegWits activation. It was speculated by Bitcoin Core developer Gregory Maxwell that this covert asicboost technology could earn Bitmain 100 Million dollars a year.
It is notable that Hardfork proposals that Bitmain has supported, such as Bitcoin Classic, Bitcoin Unlimited, Bitcoin ABC/Bcash and now SegWit2x all preserve Bitmains covert asicboost technology while Segwit the soft fork breaks asicboosts effectiveness.
But if that is not enough of a demonstration of rational economic incentives to behave in such a way, then what about irrational reasons such a idelogical positions or pride?
Its no secret that Chinese miners dislike for bitcoin core matured when the Hong Kong agreement was broken. Many miners have consistently rationlized "firing bitcoin core developers" and we even have a direct account from a bitpay employee that said Jihan directly told him that is his purpose is to "get rid of blockstream and core developers". And while the Hong Kong agreement being broken is quite the muddied waters, there is proof in the blockchain that chinese miners were the first to break the terms of the agreement by mining a block with a alternative client. Some bitcoin core developers continued to work on HardFork proposals despite this, offering up public proposals, BIPs and released code to attempt to satisfy the terms of the agreement. Yet only in hindsight did everyone realize that no individual or individuals can force the entire bitcoin network to upgrade. It is only through the slow methodical process of social consensus building that we can get such a large decentralized global network to agree to upgrade the protocol in a safe manner. Yet to this day we still have bitter idelogical wars over this HK agreement "being broken" despite how long ago, and how clear the situation is in hindsight.
When you take into account the historical record of these individuals and businesses actions it clearly demonstrates a pattern of behavior that undermines the long term health of bitcoin. When you analyze their behavior from a rational economic viewpoint, you can clearly see that they are sabatoging the long term health of bitcoin to preserve short term profits.
Considering this information, why would other bitcoin ecosystem businesses "compromise" with such a malicious actor? Let us not forget that these actors were the entire reason we needed to compromise in the first place went ahead and forked the bitcoin network already creating the first bitcoin-shared-history altcoin, Bitcoin ABC. So we compromised with people to prevent the spliting of bitcoin, so that they could go ahead and split bitcoin? What illogical insanity is this? Why would you "stick to your guns" on an agreement that was nullified the moment Bitmain and ViaBTC supported a hardfork outside of the S2X agreement? Doubly questionably is your support when the hardfork is highly contentious and guaranteed to cause a split, damage bitcoin, create chaos and damage global confidence.
A lot of the signatories of the NYA agreement are payment processors and gateway businesses. Their financial health depends upon short term growth of bitcoin to increase business activity and shore up investors capital with revenue from that transactional growth. Their priorities are to ensure short term growth and to appease their investors. But their actions demonstrate a type of cause and effect that often occurs in markets across the world. By redistributing network resource costs to node operators they are simply shuffling costs to the public so that they can benefit in the short term without needing to allocate extra capital.
But these actions do not benefit the health of bitcoin long term. Splitting the network, once again, does not increase confidence in the bitcoin network. It does not foster growth. Increasing the blocksize after segwit already increases the blocksize will not get us any closer to VISA transaction levels from a statistical viewpoint. Increasing the TPS from 3 to 7 when we need to get to 30,000 TPS is quite an illogical decision at face value. Increasing the blocksize on-chain to get to that level would destroy any pretense at decentralization long before we even came close, and without decentralization we have no cenosorship resistence, fungibility. These are fundamental to the value of bitcoin as a network and currency. Polymath and industry wide respected crypto expert Nick Szabo has written extensively on scaling bitcoin and why layer 2 networks are essential.
To all the Signatories of the SegWit2X I ask you - What are you trying to accomplish by splitting bitcoin once again? What consensus building have you done to ensure that bitcoin wont suffer a catastrophic contentious hard fork? As it stands right now I only see a portion of the economic actors in the bitcoin ecosystem supporting S2X. No where near enough to prevent miners from supporting the legacy chain when there will be a large portion of the economy still operating on the legacy chain preserving its value. Where there is money Its going to be extremely difficult to topple the status quo/legacy network and the cards are stacked against you. Without full consensus from the majority of developers, economic actors/nodes, exchanges, payment processors, gateways, wallets....you will only fork yourself from the legacy network and reap destruction and chaos as the legacy chain and S2X battle it out.
If you truly support bitcoin and are dedicated to the long term success of bitcoin and your business, then why would you engage/compromise with demonstratably malicious actors within the bitcoin ecosystem to accomplish a goal that was designed by them to further monopolize/centralize their control, at the destruction of bitcoins security model?
Bitcoin core developers are actually positive on hardforks and want to eventually increase the legacy blocksize, they just wish to do it in a responsible manner that does not put the network at risk like SegWit2x does.
Also, it seems a rational engineering choice to optimize and compress transactions/protocols before increasing the blocksize. Things like SegWit, Schnorr, MAST are all great examples of things Bitcoin Core has done and is doing to increase on-chain scaling technology to the long term benefit of bitcoin.
The fate of bitcoin will be determined by users who choose when how and where they transact. If businesses attempt to force them on the S2X chain they will abandon those businesses to use a servicor that does not attempt through coercion to force them upon a specific forked network.
Finally, without replay protection there can be no clean split and no free market mechanism to determine the winner. I understand that this is purposefully designed this way, to force a war between the legacy chain and S2X, but if you stand for everything bitcoin stands for, then you as central actors will not try to force people onto your chain. Instead, you should allow the market to decide which chain is more valuable.
If you will not abandon this poisonous hardfork pill then please advocate/lobby to add default replay protection to the btc1 codebase. You cannot claim Free Market principals and then on the other side of your mouth collude with central actors to force protocol changes upon users. Either you believe in bitcoin, or you are here to join the miners in their poorly disguised behaviors to monopolize, subvert and sabatoge bitcoin.
submitted by Cryptolution to Bitcoin [link] [comments]

Analysis of /u/btcthwy's blocks

I am a "block chain archaeologist" - that is, I look at old bitcoin blocks and link them together to find miners. Using this method, we can predict how many bitcoins were mined by early miners including Satoshi Nakamoto, Hal Finney, Dustin Trammell, etc.
I have previously identified btcthwy (former designation BSE-2800) as having solved blocks 2800 (spent), 2815, and 2816 (spent). It is possible, but unlikely, that he also solved 2848 and 2984.
BSE-3182 is apparently also btcthwy, having solved 3182 (spent), 3192, and 3194 (spent). He may also be responsible for 3208 and 3215.
http://i.imgur.com/UuuRY3v.png
In the above graph, all blocks from 2800 to 3400 are plotted by extraNonce. Green blocks are btcthwy's blocks, orange blocks are likely to be his but not for certain, and gray blocks are everyone else's blocks.
The solid diagonal lines in the chart are blocks found by Satoshi Nakamoto. The slanted, less solid lines are other early adopters, including Finney and Trammell, but also some unidentified cypherpunks. The noise at the bottom are miners that are coming and going frequently; the people coming to see what the fuss is about, and usually leaving.
Just thought I'd share this, it's cool to finally identify new early adopters :)
submitted by cossackssontaras to Bitcoin [link] [comments]

There is an enormous jump in mining difficulty directly ahead of us.

As shown here, in less than three days the difficulty of finding a valid nonce will increase by roughly 16 million points. That's the largest single-jump in bitcoin's history (by a lot), and the largest jump relative to the previous difficulty since Summer 2014. The difference between today and 18 months ago, however, is the blocksize crisis.
At the moment, new blocks are being created once every 8 minutes or so, which has helped immensely in handling the recent surge of transactions. This crutch will be going away on Friday.
Assuming the heavy transaction volume continues, which seems likely given recent BTC/USD action, this upcoming difficulty change could end up being the loudest alarm bell to date with respect to the desperate need to resolve bitcoin's crippling capacity limitation.
Happily, it is the sort of alarm that rings across all languages barriers. We can hope that this one will be heeded.
submitted by Thanah85 to bitcoinxt [link] [comments]

Block size question

Hey guys,
I've been absent from bitcoin related subjects for too long and I'm trying to refresh my knowledge of the subject.
I'll preface by saying that I'm well aware of the disputes around the block size even if I don't understand it all just yet.
With that being said, here's my first noob question... And I apologized if that's a dumb question !
I was looking at this chart : https://blockchain.info/charts/n-transactions-per-block?timespan=all
The graph shows that the number of transactions per block has been growing. My understanding is also that as the block size if fixed (hence all the debates around it), so it can only contain so many transactions.
As far as I know, the block creation / validation goes something like this : a miner picks transactions (as many as possible so as to both fill a block and maximize the transaction fees collected), then computes values (sort of a hash of {bunch of transactions + nonce} as many times as needed to find a value lower than a number which is based on the difficulty. The miner who's the first to manage this wins and gets to keep all the transactions fees involved + the reward.
I don't see why it is required that a block be of a fixed determined size. Why wouldn't a miner perform this computation with all the transactions it has at hand at every turn ?
Thanks in advance
submitted by killermouse0 to btc [link] [comments]

Frederic Bastiat on Money

Hi guys, just wrote a blog post on monetary theory. Here is the link,http://www.marcolapegna.com/?p=333&preview=true&frame-nonce=feadfbb289
Text is below.
Today I wanted to launch what will hopefully be a long series of articles discussing the nature of money and tying it in with the resurgence of Bitcoin and crypto-currencies in general. I remember Bitcoin being a big topic several years ago and then for one reason or another the hype died down. Recently I’m hearing more about Bitcoin and seeing more articles and comments posted on my Facebook news feed. If we examine the chart below I can see why. In the last two years Bitcoin has experienced a steady upward trend and returns look phenomenal. It appears that a whole new group of investors that normally don’t take much interest in financial markets is starting to invest in Bitcoin which could be the start of another significant upward trend. BitstampUSD_weekly
Personally, I’m still very confused about Bitcoin. I am horribly computer illiterate and don’t even know the difference between MB, Gigabytes, RAM or any other lexicon surrounding computers.
Therefore I have decided to slowly start educating myself on monetary theory and crypto-currencies in general. I’m primarily searching for the answers to two simple questions.
1.) Do crypto-currencies have a chance to displace bank notes as the primary medium of exchange?
2.) Is there an investing opportunity in the short-term?
I haven’t examined monetary theory for a few years now, and since it’s already on my Kobo I decided to read what Bastiat had to say in his essay What is Money? The essay is rather pedestrian, but it’s interesting to see how prescient Bastiat can be in his description of the effects of inflation on the social order of society. Below I summarize some of the key points I took away. Next article in the series I might examine some more complicated aspects of monetary theory, or start looking into the details of crypto-currencies.
Money is not Wealth
During Bastiat’s lifetime most if not all European nations were on the gold standard. Reading Bastiat’s critique it seems there was a prevailing view that increasing a nation’s gold supply would increase the wealth of it’s citizens. A person can’t eat money, they naturally use it to purchase food or drink which is real wealth. But when a legislator holds the erroneous view that money is wealth, a host of bad legislation follows. In an attempt to increase a nation’s gold supply, Bastian foresaw the drafting of legislation preventing imports that drain gold, subsidies to exporters that increase the gold supply. This will naturally lead to a trade wars, higher taxes, and worst of all wars to open new markets for exporters.
Obviously mercantilism in not so much an issue in the 21st century as it was in the 19th century, but this lesson is still worth noting.
In economic discussion, do not get distracted by the supply of money. It’s not real wealth. It’s easy for a government to run up the printing press and create billions of dollars. It’s impossible though to snap your fingers and create roads, hospitals, and homes with the same ease as printing money.
Money as a Claim on Society
The function of money for Bastiat is to act as a claim on society. A dollar “…is, as it were, the witness and proof that you have, at some time or other, performed some labor, which, instead of turning to your advantage, you have bestowed upon society as represented by your client (employer or debtor).” Then when the holder of this dollar is so inclined, he can trade this token with some merchant for goods and close his account with society.
This is just a different way to describe the useful function of money as a means of exchange. Imagine going to work in a society where money did not exist. You would require your employer to pay you with necessities like food, clothing and others. With money though, you can take it and exchange it for useful goods with other merchants at a future date.This allows for far more trading to take place benefiting everybody in society as a whole.
The lesson I take away is that the value of a particular currency is tied to the way it eases exchanges between different parties. If for whatever reason people do not trust a currency, they immediately revert back to bartering which causes less exchanges to take place which generally correlates with a decrease in the standard of living.
Depreciation Hurts the Lower Classes
There is a prevailing view in economics that being loose with the money supply stimulates economic growth. We see the consequences of this belief in the form of historically low interest rates and deficit spending. It seems that this belief was no less prevalent in Bastiat’s day. Bastiat laments a sudden increase in the money supply, and subsequent depreciation of money, as an insidious attack on the lower class. Prices rise but not uniformly, “Sharp men, brokers, and men of business, will not suffer by it; for it is their trade to watch the fluctuations of prices, to observe the cause, and even to speculate upon it.” Wall Street anyone? Tradesmen and workers do not realize this process is taking place and so have their wealth chipped away through inflation.
In my view it is undeniable that this process has been killing the middle class for a long time now. This problem is made worse by the fact that we often look to the government to provide data on inflation which appears to be greatly flawed.
The lesson here is that for the next evolution in currency to take place, mechanisms have to be in place that guarantee a stable supply with no malicious manipulation possible.
Education is Key
At the end of his essay Bastiat’s solution to the problem of currency manipulation is education. He did not trust the government with education and I can’t blame him. I have a four year degree in business from what I was told was one of the best business schools in Canada. I learned next to nothing on monetary theory, in fact I received my best education after university reading by myself.
Lesson here is to take charge of your own learning and to be skeptical of traditional channels.
submitted by Vecissitude to mmt_economics [link] [comments]

What does this coin think, it's Ethereum?

What is it, a goddamn asshole, what the fuck is it doing? Not ever, no way. https://www.youtube.com/watch?v=Zm5o_r4Lyc0
Now it's Carlos Matosticks. Pumping away like it's freaking, Johnny Hodl. What the hell’s it doing?
Thinks it’s got it going Tronny nova. No way. No way. What is this garbage? What is this?
Oh, I’m king of the merkle, I’m the Treemeister. I count on them. But sometimes I prague, I like to shillist.
Yeah right. Yeahhh right. This guy’s a bagger. This guy’s some sort of Ethereum bagger in the Ponzi.
Hoo, this guy thinks he’s Captain Nonce. Captain Finding Nonce. Anyone need some nonces, they go to him. BULLSHIT.
This woman's such a bitch. Thinks she's Bitcoin Cash. Drinking outta cups. Being a bitch.
I better have Lisk. I better have fatalisk. Ark. Patterncscoomp chart in the background fucking going crazyyyyyyy.
Who’s this guy? Mista Moons. Mista Moon Hands. No way. No way, get real. Like those things.
Mr. Exchange. Mr. Exchange me, I’m the Exchanger, lead me to the Bitcoin. Fuck you.
5643, yeah right, here's some stupid bitch! Who traded that floor, not me, no way. I’m never trading no floor ever again. Not once, not never. Nope.
Who’s pair is that? Who put that goddamn pair here? It's not my pair. Not my pair, not my problem, that’s what I say. No way.
Stupid consensus. Stupid hodlers. Lighthouses rule. You don’t like the lighthouse? You suck.
submitted by brokemac to cryptocurrencymemes [link] [comments]

[uncensored-r/Bitcoin] Let us not forget the original reason we needed the NYA agreement in the first place. Centralizat...

The following post by Cryptolution is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7160gs
The original post's content was as follows:
SegWit2x through the NYA agreement was a compromise with a group of Chinese mining pools who all march to the beat of the same drum. Antpool, ViaBTC, BTC.TOP, btc.com, CANOE, bitcoin.com are all financially linked or linked through correlated behavior. Antpool, ConnectBTC and btc.com being directly controlled by bitmain, and ViaBTC and Bitmain have a "shared investor relationship". If bitmain is against position A, then all those other pools have historically followed its footsteps. As Jimmy Song explains here the NYA compromise was because only a small minority of individuals with a disproportionate amount of hashrate were against Segwit (Bitmain and subsidiaries listed above), where the rest of the majority of signatories of NYA were pro-segwit. The purpose of the compromise was to prevent a chain split, which would cause damage to the ecosystem and a loss of confidence in bitcoin generally.
At current time of calculation, according to blockchain.info hashrate charts, these pools account for 47.6% of the hashrate. What does it matter if these pools are running a shell game of different subsidiaries or CEO's if they all follow a single individual's orders? 47.6% is enough hashrate right now to preform a 51% attack on the network with mining luck factored in. This statistic alone should demonstrate the enormous threat that Bitmain has placed on the entire bitcoin ecosystem. It has compromised the decentralized model of mining through monopolizing ASIC manufacturing which has lead to a scenario in which bitcoins security model is threatened.
But let us explore the reasoning behind these individuals actions by taking a look at history. First, Bitmain has consistently supported consensus breaking alternative clients by supporting bitcoin classic, supporting Bitcoin Unlimited and its horrifically broken "emergent consensus" algorithm, responding to BIP148 with a UAHF declaration, and then once realizing that BIP148/BIP91 would be successful at activating Segwit without splitting the network Bitmain abandoned its attempt at a "UAHF", and admitted that bitcoin cash is based on the UAHF on their blog post. The very notion of attempting to compromise with an entity to prevent a split that is supporting a split is illogical by nature and a pointless exercise.
Let us not forget that Bitmain was so diametrically opposed to Segwit that it sabatoged Litecoins Segwit Activation period to prevent Segwit from activating on Litecoin. Do these actions sound like a rational actor who has the best interests of bitcoin at heart? Or does this sound like an authoritarian regime that wants to stifle information at any cost to prevent the public from seeing the benefits that SegWit provides?
But the real question must still be asked. Why? Why would Bitmain who is so focused on increasing the blocksize to reduce fee pressure delay a protocol upgrade that both increases blocksize and reduces fee pressure? If miners are financially incentivized to behave in a way in which is economically favorable to bitcoin, then why would they purposefully sabatoge protocol improvements that will increase the long term success survival of bitcoin?
There is plenty of evidence that suggests covert ASICBOOST, a mechanism in which a ASIC miner short cuts bitcoins proof of work process (grinding nonce, transaction ordering) and an innovation that Bitmain holds a patent for in China is the real reason Bitmain originally blocked SegWits activation. It was speculated by Bitcoin Core developer Gregory Maxwell that this covert asicboost technology could earn Bitmain 100 Million dollars a year.
It is notable that Hardfork proposals that Bitmain has supported, such as Bitcoin Classic, Bitcoin Unlimited, Bitcoin ABC/Bcash and now SegWit2x all preserve Bitmains covert asicboost technology while Segwit the soft fork breaks asicboosts effectiveness.
But if that is not enough of a demonstration of rational economic incentives to behave in such a way, then what about irrational reasons such a idelogical positions or pride?
Its no secret that Chinese miners dislike for bitcoin core matured when the Hong Kong agreement was broken. Many miners have consistently rationlized "firing bitcoin core developers" and we even have a direct account from a bitpay employee that said Jihan directly told him that is his purpose is to "get rid of blockstream and core developers". And while the Hong Kong agreement being broken is quite the muddied waters, there is proof in the blockchain that chinese miners were the first to break the terms of the agreement by mining a block with a alternative client. Some bitcoin core developers continued to work on HardFork proposals despite this, offering up public proposals, BIPs and released code to attempt to satisfy the terms of the agreement. Yet only in hindsight did everyone realize that no individual or individuals can force the entire bitcoin network to upgrade. It is only through the slow methodical process of social consensus building that we can get such a large decentralized global network to agree to upgrade the protocol in a safe manner. Yet to this day we still have bitter idelogical wars over this HK agreement "being broken" despite how long ago, and how clear the situation is in hindsight.
When you take into account the historical record of these individuals and businesses actions it clearly demonstrates a pattern of behavior that undermines the long term health of bitcoin. When you analyze their behavior from a rational economic viewpoint, you can clearly see that they are sabatoging the long term health of bitcoin to preserve short term profits.
Considering this information, why would other bitcoin ecosystem businesses "compromise" with such a malicious actor? Let us not forget that these actors were the entire reason we needed to compromise in the first place went ahead and forked the bitcoin network already creating the first bitcoin-shared-history altcoin, Bitcoin ABC. So we compromised with people to prevent the spliting of bitcoin, so that they could go ahead and split bitcoin? What illogical insanity is this? Why would you "stick to your guns" on an agreement that was nullified the moment Bitmain and ViaBTC supported a hardfork outside of the S2X agreement? Doubly questionably is your support when the hardfork is highly contentious and guaranteed to cause a split, damage bitcoin, create chaos and damage global confidence.
A lot of the signatories of the NYA agreement are payment processors and gateway businesses. Their financial health depends upon short term growth of bitcoin to increase business activity and shore up investors capital with revenue from that transactional growth. Their priorities are to ensure short term growth and to appease their investors. But their actions demonstrate a type of cause and effect that often occurs in markets across the world. By redistributing network resource costs to node operators they are simply shuffling costs to the public so that they can benefit in the short term without needing to allocate extra capital.
But these actions do not benefit the health of bitcoin long term. Splitting the network, once again, does not increase confidence in the bitcoin network. It does not foster growth. Increasing the blocksize after segwit already increases the blocksize will not get us any closer to VISA transaction levels from a statistical viewpoint. Increasing the TPS from 3 to 7 when we need to get to 30,000 TPS is quite an illogical decision at face value. Increasing the blocksize on-chain to get to that level would dest...
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

05-11 14:01 - '22k worth of Bitcoins drained from my account,' (self.Bitcoin) by /u/stealth2017 removed from /r/Bitcoin within 262-267min

'''
Somehow my 46400.287mBTC were taken from my account tonight about an hour ago. I am livid, is there anyway to restore the wallet to an earlier date or cancel the transaction? Any email contact or anyone that can help please do asap I am devastated. Here is the info 4k reward for someone who can restore it: Screen name Team Kawai His balance on April 25th at 4:09am was 53880.0574758 Inputs: 170c9aff...f3cc2727:4 1Eir4W3AAZvxJWXDv2VRcMForRtxQ2K5tz 3d8558e5...64438c1d:0 13qVffguWJzgho4aZNid9Ngqvgs18TGiEX 8ee4d313...ba454d39:1 1Eir4W3AAZvxJWXDv2VRcMForRtxQ2K5tz fda6a7c9...c08cff77:0 1Eir4W3AAZvxJWXDv2VRcMForRtxQ2K5tz Outputs: 1ATMS9BQrV4zb6X8AJMy2ngSUuPrR3i7s4 46399.7782
Size 634 (bytes) Received Time 2016-05-11 05:37:01 Included In Blocks 411265 ( 2016-05-11 05:37:45 + 1 minutes ) Confirmations 18 Confirmations Relayed by IP 139.162.157.93 (whois) Visualize View Tree Chart
Size 634 (bytes
Hashes 00000000000000000216cde2eeaf4ff5d55f2711656b056071c1f69923d45990 Previous Block 000000000000000002619c83c8084b8cfa737f5bf8936ea7a44270d9aa7adb98 Next Block(s) 00000000000000000368b2abcbd0b4436a78472d4a6c265efab3cd46f2aaf573
Merkle Root 726a2a283ab294fb3673e98f12b3fcfbfdf127c8d45261bdcce1ae6b8861f79f
Block #411265
Summary Number Of Transactions 1341 Output Total 7,262.38667911 BTC Estimated Transaction Volume 2,512.17337005 BTC Transaction Fees 0.19440794 BTC Height 411265 (Main Chain) Timestamp 2016-05-11 05:37:45 Received Time 2016-05-11 05:37:45 Relayed By BW.COM Difficulty 194,254,820,283.44 Bits 403024122 Size 967.798 KB Version 536870913 Nonce 2823166374 Block Reward 25 BTC
If any more info is needed please let me know, here is the email he sent me: [email protected] He is a trader on many sites please destroy his feedback...
Hello,
Here is the grand finale,
i am not even netspyder you dumb idiot. Netspyder has changed his email months ago. the moment he said he was dropping the team something email, i registered it on a proxy and got it. i was patiently waiting for this day. i tried everything to scam netspyder but didnt work, so i had to try this last shot. i challenged netspyder that i will scam someone big money, unfortunately it wasnt him but nevermind. it took me months to learn how to speak, write and think like netspyder. several attempts but none were successful before this one. you prefer to trust a person rather than a legitimate website to buy miners. you were greedy to buy 100 miners rather than a standard 30-50miners and start mining bitcoins. Oh, my runners? no sir lol, everytime you started a trade with me, i started a trade with netspyder. all the runners, they are netspyder's runners not mine. all i did was be the man in the middle and make everything look like its link to me. to you i am netspyder, to netspyder i am kyle. this is the best scam. the one that cannot be traced back. the email was used on a ethereum paid virtual vps, the connection was satellite from countries in the middle east, if netspyder tries to join links, it will be link to you, and if you try to find me, you will instead find the real netspyder. youre a good guy, the ideas you have are very good. but i needed the money for my child's operation. you have told me your illegal business, your brothers company, your parents, your address, everything about you. what do you know from me? that i am supposedly "netspyder". everybody on the forum knows netspyder is from Ohio, not SanDiego. i end this now. i am self destructing this email address by email bombing it. dropping the vps and deleting everything.
Goodbye :)
22k taken in an instant here's the info, 4k reward for someone who can get me back my balance: Amount: 46399.7782mBTC Transaction ID: 3ebb810c742424886b552af529caa341b6ffad124e44430511b501338f96a066 Inputs: 170c9aff...f3cc2727:4 1Eir4W3AAZvxJWXDv2VRcMForRtxQ2K5tz 3d8558e5...64438c1d:0 13qVffguWJzgho4aZNid9Ngqvgs18TGiEX 8ee4d313...ba454d39:1 1Eir4W3AAZvxJWXDv2VRcMForRtxQ2K5tz fda6a7c9...c08cff77:0 1Eir4W3AAZvxJWXDv2VRcMForRtxQ2K5tz
Output : 1ATMS9BQrV4zb6X8AJMy2ngSUuPrR3i7s4 amount: 46399.7782
Please message use_zfs_yo on #electrum with issues or suggestions, how do I get a hold of him?
All other data to help: Transaction id; 3ebb810c742424886b552af529caa341b6ffad124e44430511b501338f96a066 Status: 17 confirmations 2016/5/11 00:37hrs Amount taken: 46399.7782
'''
22k worth of Bitcoins drained from my account,
Go1dfish undelete link
unreddit undelete link
Author: stealth2017
submitted by removalbot to removalbot [link] [comments]

Nonce – Definition, Meaning, Review, Description, Example, Proof-Of-Work Bitcoin Best Bitcoin Mining Software of 2020 BITCOIN MINING DIFFICULTY EXPLAINED IN 10 MINUTES! 08 - Blockchain, mining, mining pool. What the @#$% is a Bitcoin anyway?

Live Streaming Charts für den Bitcoin Kurs. Der Chart ist sowohl intuitiv als auch leistungsstark und bietet dem User mehrere Bitcoin Charttypen, einschließlich Candlesticks, gefüllte Charts ... This page displays the number and size of the unconfirmed bitcoin transactions, also known as the transactions in the mempool. It gives a real-time view and shows how the mempool evolves over the time. The transactions are colored by the amount of fee they pay per (virtual) byte. The data is generated from my full node and is updated every minute. Note that in bitcoin there is no global ... The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team. Bitcoin Chart. Bitcoin - MVRV Ratio. This chart sharing information about, - Total BTC count in market * Price @ time / Total Fiat money for buying all BTCs - Ratio 1 means that "Nobody has profited from buying bitcoin" - All data is real-time. Time zone is UTC-0. All the information on this website is published in good faith and for general information purpose only. www.lunawhale.com does not ... In the below chart we have looked at the nonce value distribution for blocks mined using overt AsicBoost. Again, the pattern remains visible, albeit faintly. This may suggest the pattern has nothing to do with covert AsicBoost, but it’s far from conclusive. Bitcoin nonce value distribution – Overt AsicBoost blocks (Since 2018) (Source: BitMEX Research) Conclusion. For now, the unusual ...

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Nonce – Definition, Meaning, Review, Description, Example, Proof-Of-Work Bitcoin

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