Inb4 Roger Ver rage quits a la Mike Hearn : Bitcoin

An incomplete history of the Bitcoin Cash's origin and the Minimum Viable Fork project

A common meme is that Roger Ver, Jihan Wu, and Craig Wright are the ones responsible for the creation of Bitcoin Cash.
This is untrue. Those are figureheads who played a role in popularizing or (for Bitmain, allegedly) funding later development, but they played almost no part until Bitcoin Cash development was long since underway.
The Bitmain UAHF contingency plan blog post was made on 2017-06-14. This was the first event in Bitcoin Cash's history that reached a wide audience, but it came 15 months after work on what later became Bitcoin Cash began. The public decision to do a minority hard fork happened 2016-07-31, and was spearheaded by singularity87 and ftrader. ftrader did most of the initial development, which he had started back in March 2016. Even back then, the plan to fork before Segwit's activation was clear:
I want to fork before SegWit activates
Bitmain was merely joining their effort in 2017, not starting it.
Bitcoin Cash evolved out of the Minimum Viable Fork project that ftradeFreetrader started in March 2016, and which was discussed in /btcfork and /btc. Freetrader blogged about it quite a bit. If you read through his posts, you can see his initial prototype was built on Bitcoin Classic. In Oct 2016, a MVF version based on Bitcoin Core was made. Development on MVF stalled during the latter half of 2016 when it seemed like Bitcoin Unlimited's emergent consensus proposal was likely to gain adoption, but heated up again in early 2017 when BU lost support after a few remote crash 0-day exploits were found and used against BU on March 15 and again in April. Freetrader restarted his MVF work on Bitcoin Unlimited in April. The first mention of Bitcoin ABC is from May 7, 2017. The ABC project was started by deadalnix, but with mostly the same goal as ftrader's work using Core as the base instead of BU or Classic. At that time, ABC was just Core 0.14 minus RBF and Segwit; it didn't yet have any blocksize changes. Deadalnix reached out to Freetrader and asked him if he wanted to help, which Freetrader did. Freetrader made the first prototype of Bitcoin ABC with a blocksize limit other than 1 MB on or before May 21, 2017, while still working in parallel on the Bitcoin Unlimited version of the MVF. Ftrader and deadalnix continued to work on Bitcoin ABC for a couple months before Bitmain even mentioned their support for the contingency plan, and their contingency plan was basically the same as what ftrader and singularity87 had proposed back in June 2016 (but with more refinements and details worked out) -- perform a minority hard fork from BTC before Segwit activates to increase the blocksize limit, and do so in a way that ensures as clean a split as possible.
Bitcoin ABC was announced to the public on July 1st, 2017, by ftrader and by deadalnix, about 2-3 months after deadalnix and ftrader began working on it, and 2 weeks after Bitmain announced its intent to support the UAHF.
On the date that BCH forked, there were four separate compatible full-node clients:
  1. Bitcoin ABC, developed mostly by Amaury Sechet/deadalnix and freetrader;
  2. Bitcoin Unlimited, developed by the BU team (Andrew Stone/thezerg, Peter Tchipper, Andrea Suisani/sickpig, Peter Rizun, freetrader, and a few others, and funded by anonymous donors in 2016 for their Emergent Consensus proposal);
  3. Bitcoin Classic, originally developed by Gavin Andresen with a little help from me, but extensively reworked by Tom Zander; and
  4. Bitcoin XT, developed initially by Gavin Andresen and Mike Hearn, and later by Tom Harding/dgenr8 and dagurval
Of those developers, the only ones who received money while they were working on these clients were possibly deadalnix (alleged but unconfirmed to be paid by Bitmain), and Gavin (MIT Digital Currency Initiative). Everybody else was a volunteer. At the time, BU's funds only paid for conferences, travel expenses, and a $20,000 bug bounty; BU didn't start paying its developers until after the BCH hard fork.
A lot of Bitcoin Cash's early support came from Haipo Yang of ViaBTC. ViaBTC's exchange was the first to offer BCH trading pairs, and ViaBTC's pool was the first public pool to support BCH. I've also heard that Haipo Yang was the one who coined the name Bitcoin Cash -- can anyone confirm or deny this? ViaBTC played a significant role in BCH's deployment, far more than Roger Ver or Craig Wright, and had a comparable amount of influence to Bitmain. However, this was not obvious on the outside, because Haipo Yang is the kind of person who quietly builds things that work, instead of just being a prominent talking head like Craig Wright and Roger Ver are.
Roger himself actually didn't fully support Bitcoin Cash until after the fork. Initially, he had his hopes up for Segwit2x, as did I. His name was conspicuously missing in an Aug 1, 2017 article about who supports Bitcoin Cash. It was only after Segwit2x failed on Nov 8, 2017 that he started to support BCH.
Craig Wright on the other hand did praise the Bitcoin Cash initiative early on, probably largely because he hated Segwit for some reason. But he didn't do anything to help create BCH; he only spoke in favor of it. (I really wish he hadn't. His involvement in BCH fostered a lot of false beliefs among Bitcoin Cash's userbase, like the belief that selfish mining doesn't exist. We were only able to get rid of his crazed followers when BSV forked off. I'm very grateful that happened. But I digress.) Most people didn't take him seriously, but a modest minority bought his narrative hard. He was a pretty minor player at the time, and remained so until 2018.
These are the people who created Bitcoin Cash. It's easy to place all the credit/blame on the most vocal figureheads, but the marketing department does not create the product; they just sell it. If you weren't around during the product's development, it's hard to know who actually built the thing and who was just a bandwagon joiner. CSW and Roger just hopped on the bandwagon. Jihan Wu/Bitmain and Haipo Yang/ViaBTC joined the crew of the bandwagon and contributed substantially to its development and survival, but by the time they had joined the bandwagon was already in motion. The real instigators were the community members like ftrader, deadalnix, singularity87, the BU crew, the Electron Cash crew (Calin Culianu, kyuupichan, Jonald Fyookball, etc.) and the many others who contributed in various ways that I haven't documented.
For those of you who played a role or know of someone else who did but whom I didn't mention in this post, please make a comment below so we can all hear about it.
submitted by jtoomim to btc [link] [comments]

Open Letter From a Casual Investor

Dear Bitcoin community (all of it),
I've been investing in Bitcoin since 2012 and have seen many ups and downs over the past 5 years. I was a big believer for a while, I stuck around during the last hardfork, during the Mt. Gox collapse, during the dark days of the Bearwhale, during the Paycoin/GAW scam, after Mike Hearn's rage-quit — point is, I've been around.
Like most people, I have a pretty minimal understanding of the underlying cryptography and code of Bitcoin itself. I'm in this for two reasons:
  1. I like the idea of a currency that is governed by math, not governments.
  2. I have so far made money on it and believe I can make more as the idea takes deeper and deeper root.
Now, here's the thing: Bitcoin is getting harder and harder to use. I can't just send Bitcoins to someone anymore. I've stopped evangelizing about it because I don't want to get embarrassed by a 40-minute transaction and because I don't want to pay a dollar to send a dollar.
I don't care what fixes it. But right now, it's broken as far as the average user concerned.
Segwit, to be honest, sounds like an unnecessarily complex 'solution' that may or may not address the issue. But raising the block size limit (ideally making it dynamic) just sounds like the best, most practical solution to a person like me who does not have the time or inclination to read through scores of scientific whitepapers or scour line after line of code.
My point is this: I'm not buying Bitcoins anymore. In fact, I'm shorting them heavily. Ethereum is the new game in town, and right now, it's on track to win out long term. Because: 1. It's not broken. If I send Ether, it arrives. 2. The fees aren't out of control. A few cents — as it should be. I'm not being punished for actually using the coin. 3. Devs listen to the community. Not the other way around. 4. They had the balls to fork.
The DAO incident and the ensuing debate over Ethereum Classic were settled. The Ethereum blockchain is fine and Ethereum Classic is becoming a footnote for the hardliners to rally around.
So, to the BU/Classic devs, I say the time has come. This has gone on entirely too long. Quit waiting for permission from the Chinese miners. They are after a fee market and will draw it out as long as they can. The first rule of economics: "People will do what they are incentivized to do.".
The power of Bitcoin's persuasion does not lie in its hashing power. It lies in investors and users like me. If we have a useful coin, we will turn it into a profitable coin, which will make it a coin worth mining.
We're not going to settle this with anything other than a fork. "Consensus" will only come when there are actually two options. So, let's do it. Let's take the short term hit to the price by releasing this thing into the wild.
The better coin will win out eventually. Be it Segwit, BU/Classic, or Ethereum, or Monero, or Litecoin, or any other coin out there.
I personally think it may already be too late, but the time has long since come.
Bitcoin must evolve now or die a slow death.
submitted by The_Ugliest_Man_Ever to btc [link] [comments]

Subreddit Stats: btc top posts from 2019-01-06 to 2020-01-05 11:19 PDT

Period: 363.85 days
Submissions Comments
Total 1000 86748
Rate (per day) 2.75 237.19
Unique Redditors 317 7747
Combined Score 194633 356658

Top Submitters' Top Submissions

  1. 31014 points, 162 submissions: Egon_1
    1. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... (515 points, 206 comments)
    2. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. FreeRoss.org/lifers/ Happy New Year. (502 points, 237 comments)
    3. "It’s official Burger King just accepted Bitcoin Cash and GoC token as a payment option in Slovenia." (423 points, 112 comments)
    4. "HOLY SATOSHI! 😱😱 I did it! A smart card that produces valid BitcoinCash signatures. Who would love to pay with a card—to a phone?? Tap took less than a second!👟..." (368 points, 105 comments)
    5. Chrome 'Has Become Surveillance Software. It's Time to Switch' -> Brave to support BCH! (330 points, 97 comments)
    6. Gavin Andresen (2017): "Running a network near 100% capacity is irresponsible engineering... " (316 points, 117 comments)
    7. "Evidently @github has banned all the Iranian users without an ability for them to download their repositories. A service like Github must be a public good and must not be controlled by a centralized entity. Another great example of why we as a society need to make web3 a reality" (314 points, 117 comments)
    8. Roger Ver: "Bitcoin Cash acceptance is coming to thousands of physical shops in Korea" (313 points, 120 comments)
    9. Paul Sztorc: “Will people really spend $70-$700 to open/modify a lightning channel when there's an Altcoin down the street which will process a (USD-denominated) payment for $0.05 ? Many people seem to think yes but honestly I just don't get it” (306 points, 225 comments)
    10. Food For Thought (303 points, 105 comments)
  2. 29021 points, 157 submissions: MemoryDealers
    1. Bitcoin Cash is Lightning Fast! (No editing needed) (436 points, 616 comments)
    2. Brains..... (423 points, 94 comments)
    3. Meanwhile in Hong Kong (409 points, 77 comments)
    4. Ross Ulbricht has served 6 years in federal prison. (382 points, 156 comments)
    5. Just another day at the Bitcoin Cash accepting super market in Slovenia. (369 points, 183 comments)
    6. Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers. (369 points, 207 comments)
    7. History Reminder: (354 points, 245 comments)
    8. It's more decentralized this way. (341 points, 177 comments)
    9. The new Bitcoin Cash wallet is so fast!!!!! (327 points, 197 comments)
    10. The IRS wants to subpoena Apple and Google to see if you have downloaded crypto currency apps. (324 points, 178 comments)
  3. 6909 points, 37 submissions: BitcoinXio
    1. Tim Pool on Twitter: “How the fuck are people justifying creating a world like the one's depicted in Fahrenheit 451 and 1984? You realize that censorship and banning information was a key aspect of the dystopian nightmare right?” (435 points, 75 comments)
    2. The creator of the now famous HODL meme says that the HODL term has been corrupted and doesn’t mean what he intended; also mentions that the purpose of Bitcoin is to spend it and that BTC has lost its value proposition. (394 points, 172 comments)
    3. Erik Voorhees on Twitter: “I wonder if you realize that if Bitcoin didn’t work well as a payment system in the early days it likely would not have taken off. Many (most?) people found the concept of instant borderless payments captivating and inspiring. “Just hold this stuff” not sufficient.” (302 points, 66 comments)
    4. Bitfinex caught paying a company to astroturf on social media including Reddit, Twitter, Medium and other platforms (285 points, 86 comments)
    5. WARNING: If you try to use the Lightning Network you are at extremely HIGH RISK of losing funds and is not recommended or safe to do at this time or for the foreseeable future (274 points, 168 comments)
    6. Craig Wright seems to have rage quit Twitter (252 points, 172 comments)
    7. No surprise here: Samson Mow among other BTC maxi trolls harassed people to the point of breakdown (with rape threats, etc) (249 points, 85 comments)
    8. On Twitter: “PSA: The Lightning Network is being heavily data mined right now. Opening channels allows anyone to cluster your wallet and associate your keys with your IP address.” (228 points, 102 comments)
    9. btc is being targeted and attacked, yet again (220 points, 172 comments)
    10. Brian Armstrong CEO of Coinbase using Bitcoin Cash (BCH) to pay for food, video in tweet (219 points, 66 comments)
  4. 6023 points, 34 submissions: money78
    1. BSV in a nutshell... (274 points, 60 comments)
    2. There is something going on with @Bitcoin twitter account: 1/ The URL of the white paper has been changed from bitcoin.com into bitcoin.org! 2/ @Bitcoin has unfollowed all other BCH related accounts. 3/ Most of the posts that refer to "bitcoin cash" have been deleted?!! Is it hacked again?! (269 points, 312 comments)
    3. "Not a huge @rogerkver fan and never really used $BCH. But he wiped up the floor with @ToneVays in Malta, and even if you happen to despise BCH, it’s foolish and shortsighted not to take these criticisms seriously. $BTC is very expensive and very slow." (262 points, 130 comments)
    4. Jonathan Toomim: "At 32 MB, we can handle something like 30% of Venezuela's population using BCH 2x per day. Even if that's all BCH ever achieved, I'd call that a resounding success; that's 9 million people raised out of poverty. Not a bad accomplishment for a hundred thousand internet geeks." (253 points, 170 comments)
    5. Jonathan Toomim: "BCH will not allow block sizes that are large enough to wreak havoc. We do our capacity engineering before lifting the capacity limits. BCH's limit is 32 MB, which the network can handle. BSV does not share this approach, and raises limits before improving actual capacity." (253 points, 255 comments)
    6. What Bitcoin Cash has accomplished so far 💪 (247 points, 55 comments)
    7. Which one is false advertising and misleading people?! Bitcoin.com or Bitcoin.org (232 points, 90 comments)
    8. A message from Lightning Labs: "Don't put more money on lightning than you're willing to lose!" (216 points, 118 comments)
    9. Silk Road’s Ross Ulbricht thanks Bitcoin Cash’s [BCH] Roger Ver for campaigning for his release (211 points, 29 comments)
    10. This account just donated more than $6600 worth of BCH via @tipprbot to multiple organizations! (205 points, 62 comments)
  5. 4514 points, 22 submissions: unstoppable-cash
    1. Reminder: bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do" (436 points, 89 comments)
    2. Peter R. Rizun: "LN User walks into a bank, says "I need a loan..." (371 points, 152 comments)
    3. It was SO simple... Satoshi had the answer to prevent full-blocks back in 2010! (307 points, 150 comments)
    4. REMINDER: "Bitcoin isn't for people that live on less than $2/day" -Samson Mow, CSO of BlockStream (267 points, 98 comments)
    5. "F'g insane... waited 5 hrs and still not 1 confirmation. How does anyone use BTC over BCH BitcoinCash?" (258 points, 222 comments)
    6. Irony:"Ave person won't be running LN routing node" But CORE/BTC said big-blocks bad since everyone can't run their own node (256 points, 161 comments)
    7. BitPay: "The Wikimedia Foundation had been accepting Bitcoin for several years but recently switched pmt processors to BitPay so they can now accept Bitcoin Cash" (249 points, 61 comments)
    8. FreeTrader: "Decentralization is dependent on widespread usage..." (195 points, 57 comments)
    9. The FLIPPENING: Fiat->OPEN Peer-to-Peer Electronic Cash! Naomi Brockwell earning more via BitBacker than Patreon! (193 points, 12 comments)
    10. LN Commentary from a guy that knows a thing or 2 about Bitcoin (Gavin Andresen-LEAD developer after Satoshi left in 2010) (182 points, 80 comments)
  6. 3075 points, 13 submissions: BeijingBitcoins
    1. Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo! (410 points, 166 comments)
    2. Chess.com used to accept Bitcoin payments but, like many other businesses, disabled the option. After some DMs with an admin there, I'm pleased to announce that they now accept Bitcoin Cash! (354 points, 62 comments)
    3. WSJ: Bitfinex Used Tether Reserves to Mask Missing $850 Million, Probe Finds (348 points, 191 comments)
    4. Bitcoiners: Then and Now [MEME CONTEST - details in comments] (323 points, 72 comments)
    5. I'd post this to /Bitcoin but they would just remove it right away (also I'm banned) (320 points, 124 comments)
    6. So this is happening at the big protest in Hong Kong right now (270 points, 45 comments)
    7. /Bitcoin mods are censoring posts that explain why BitPay has to charge an additional fee when accepting BTC payments (219 points, 110 comments)
    8. The guy who won this week's MillionaireMakers drawing has received ~$55 in BCH and ~$30 in BTC. It will cost him less than $0.01 to move the BCH, but $6.16 (20%) in fees to move the BTC. (164 points, 100 comments)
    9. The Bitcoin whitepaper was published 11 years ago today. Check out this comic version of the whitepaper, one of the best "ELI5" explanations out there. (153 points, 12 comments)
    10. Two Years™ is the new 18 Months™ (142 points, 113 comments)
  7. 2899 points, 18 submissions: jessquit
    1. Oh, the horror! (271 points, 99 comments)
    2. A few days ago I caught flak for reposting a set of graphs that didn't have their x-axes correctly labeled or scaled. tvand13 made an updated graph with correct labeling and scaling. I am reposting it as I promised. I invite the viewer to draw their own conclusions. (214 points, 195 comments)
    3. Do you think Bitcoin needs to increase the block size? You're in luck! It already did: Bitcoin BCH. Avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now. (209 points, 194 comments)
    4. Master list of evidence regarding Bitcoin's hijacking and takeover by Blockstream (185 points, 113 comments)
    5. PSA: BTC not working so great? Bitcoin upgraded in 2017. The upgraded Bitcoin is called BCH. There's still time to upgrade! (185 points, 192 comments)
    6. Nobody uses Bitcoin Cash (182 points, 88 comments)
    7. Double-spend proofs, SPV fraud proofs, and Cashfusion improvements all on the same day! 🏅 BCH PLS! 🏅 (165 points, 36 comments)
    8. [repost] a reminder on how btc and Bitcoin Cash came to be (150 points, 102 comments)
    9. Holy shit the entire "negative with gold" sub has become a shrine devoted to the guilded astroturfing going on in rbtc (144 points, 194 comments)
    10. This sub is the only sub in all of Reddit that allows truly uncensored discussion of BTC. If it turns out that most of that uncensored discussion is negative, DON'T BLAME US. (143 points, 205 comments)
  8. 2839 points, 13 submissions: SwedishSalsa
    1. With Bitcoin, for the first time in modern history, we have a way to opt out. (356 points, 100 comments)
    2. In this age of rampant censorship and control, this is why I love Bitcoin. (347 points, 126 comments)
    3. The crypto expert (303 points, 29 comments)
    4. Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. (284 points, 219 comments)
    5. Bitcoin Cash looking good lately. (235 points, 33 comments)
    6. Roger Ver bad (230 points, 61 comments)
    7. History of the BTC scaling debate (186 points, 54 comments)
    8. MFW i read Luke Jr wants to limit BTC blocks to 300k. (183 points, 116 comments)
    9. Meanwhile over at bitcoinsv... (163 points, 139 comments)
    10. Listen people... (155 points, 16 comments)
  9. 2204 points, 10 submissions: increaseblocks
    1. China bans Bitcoin again, and again, and again (426 points, 56 comments)
    2. China bans Bitcoin (again) (292 points, 35 comments)
    3. Bitcoin Cash Network has now been upgraded! (238 points, 67 comments)
    4. So you want small blocks with high fees to validate your own on chain transactions that happen OFF CHAIN? (212 points, 112 comments)
    5. It’s happening - BTC dev Luke jr writing code to Bitcoin BTC codebase to fork to lower the block size to 300kb! (204 points, 127 comments)
    6. Former BTC maximalist admits that maxi's lied cheated and stealed to get SegWit and Lightning (201 points, 135 comments)
    7. Just 18 more months to go! (172 points, 86 comments)
    8. Bitcoin Cash ring - F*CK BANKS (167 points, 51 comments)
    9. LTC Foundation chat leaked: no evidence of development, lack of transparency (155 points, 83 comments)
    10. A single person controls nearly half of all the Lightning Network’s capacity (137 points, 109 comments)
  10. 2138 points, 12 submissions: JonyRotten
    1. 'Craig Is a Liar' – Early Adopter Proves Ownership of Bitcoin Address Claimed by Craig Wright (309 points, 165 comments)
    2. 200,000 People Have Signed Ross Ulbricht's Clemency Petition (236 points, 102 comments)
    3. Street Artist Hides $1,000 in BTC Inside a Mural Depicting Paris Protests (236 points, 56 comments)
    4. Craig Wright Ordered to Produce a List of Early Bitcoin Addresses in Kleiman Lawsuit (189 points, 66 comments)
    5. Ross Ulbricht Clemency Petition Gathers 250,000 Signatures (163 points, 24 comments)
    6. Ross Ulbricht Letter Questions the Wisdom of Imprisoning Non-Violent Offenders (160 points, 50 comments)
    7. Expert Witness in Satoshi Case Claims Dr Wright's Documents Were Doctored (155 points, 44 comments)
    8. California City Official Uses Bitcoin Cash to Purchase Cannabis (151 points, 36 comments)
    9. Money Transmitter License Not Required for Crypto Businesses in Pennsylvania (141 points, 9 comments)
    10. McAfee to Launch Decentralized Token Exchange With No Restrictions (137 points, 35 comments)

Top Commenters

  1. jessquit (16708 points, 2083 comments)
  2. Ant-n (7878 points, 1517 comments)
  3. MemoryDealers (7366 points, 360 comments)
  4. Egon_1 (6205 points, 1001 comments)
  5. 500239 (5745 points, 735 comments)
  6. BitcoinXio (4640 points, 311 comments)
  7. LovelyDay (4353 points, 457 comments)
  8. chainxor (4293 points, 505 comments)
  9. MobTwo (3420 points, 174 comments)
  10. ShadowOfHarbringer (3388 points, 478 comments)

Top Submissions

  1. The perfect crypto t-shirt by Korben (742 points, 68 comments)
  2. The future of Libra Coin by themadscientistt (722 points, 87 comments)
  3. when you become a crypto trader... by forberniesnow (675 points, 54 comments)
  4. A Reminder Why You Shouldn’t Use Google. by InMyDayTVwasBooks (637 points, 209 comments)
  5. Imagine if in 2000 Apple just sat around all day shit-talking Microsoft. Apple would have never gone anywhere. Apple succeeded because they learned from their mistakes, improved, and got better. BCH should do the same. by guyfawkesfp (552 points, 255 comments)
  6. Bitcoin made The Simpsons intro! Sorry for the potato quality by Johans_wilgat (521 points, 44 comments)
  7. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... by Egon_1 (515 points, 206 comments)
  8. Can't stop won't stop by Greentoboggan (514 points, 78 comments)
  9. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. FreeRoss.org/lifers/ Happy New Year. by Egon_1 (502 points, 237 comments)
  10. Blockchain? by unesgt (479 points, 103 comments)

Top Comments

  1. 211 points: fireduck's comment in John Mcafee on the run from IRS Tax Evasion charges, running 2020 Presidential Campaign from Venezuela in Exile
  2. 203 points: WalterRothbard's comment in I am a Bitcoin supporter and developer, and I'm starting to think that Bitcoin Cash could be better, but I have some concerns, is anyone willing to discuss them?
  3. 179 points: Chris_Pacia's comment in The BSV chain has just experienced a 6-block reorg
  4. 163 points: YourBodyIsBCHn's comment in I made this account specifically to tip in nsfw/gonewild subreddits
  5. 161 points: BeijingBitcoins's comment in Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo!
  6. 156 points: hawks5999's comment in You can’t make this stuff up. This is how BTC supporters actually think. From bitcoin: “What you can do to make BTC better: check twice if you really need to use it!” 🤦🏻‍♂️
  7. 155 points: lowstrife's comment in Steve Wozniak Sold His Bitcoin at Its Peak $20,000 Valuation
  8. 151 points: kdawgud's comment in The government is taking away basic freedoms we each deserve
  9. 147 points: m4ktub1st's comment in BCH suffered a 51% attack by colluding miners to re-org the chain in order to reverse transactions - why is nobody talking about this? Dangerous precident
  10. 147 points: todu's comment in Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers.
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

UASF is basically what you would expect to see if Bitcoin were being divided intentionally

I've been involved in Bitcoin for a long time. I know the problem it is trying to solve. And I recognize the hurdles placed in the way of doing so.
One of those hurdles, as we have all seen, is systematic manipulation and censorship. At some point, each of us has noticed that different people in Bitcoin seem to have had different experiences surrounding the same major events, since its creation. Each of us has witnessed the deliberate manipulation, the lies and censorship, that exacerbates this division.
Why did Satoshi really quit? Is Gavin really trustworthy? Why did he quit? What about Mike Hearn? What really happened with pirateat40? What really happened with the bear whale? What happened at MtGox? Is Roger Ver trustworthy? What about Peter Vessenes and the Bitcoin Foundation? Why did they add Satoshi to their list of "founders"? Is Blockstream trustworthy? What happened to Theymos and all those Bitcoins he raised to build a new forum? Who really is Craig Wright, and why would trustworthy people believe his claims? Why would others dismiss them out of hand?
Ask ten different questions. You will get a hundred different answers. People can't even seem to agree on a common interpretation of a fifty-word agreement that they all negotiated and signed.
Why is that, exactly?
Trading and finance and currency are ultimately just information games. Having the right information at the right time, and being able to trust it, can make you rich. Having the wrong information, and trusting it, can make you poor. And in the fiat world, at least, having no information, or taking the default position of not trusting anything, is guaranteed to make you poor, over time.
Bitcoin was designed to change that. Bitcoin was designed to overcome the information coordination problem. It was intended to reverse this fundamental bias of the modern economy towards disinformation, destruction and poverty. And the way it does this, the innovation which enables it to do so in a trustless manner, is proof-of-work.
Yes, Bitcoin is "decentralized," as it was designed to produce economic decentralization. But to say that there is no central authority is a blatant lie. The central authority is the genesis block, and all valid blocks after that which have the most proof of work. The central authority is the group of wonderful, intelligent, selfless people who worked tirelessly, both before Satoshi and after, to bring Bitcoin into fruition and unite the world behind it. The central authority is our shared recognition of the ordering and inclusion of transactions in the chain of transactions that goes back to the beginning. It can be distributed, divided among many miners and among many individuals controlling various pieces of Bitcoin, as seems to have been deliberately done.
But it must be global. It must be shared. It must be voluntary. And it must be valid.
Therefore, every attempt to alter the definition of "validity" should be evaluated with extreme skepticism. Who is making this proposal? What is their connection to Bitcoin, and to its creation? What are their other connections, and motivations? What are the methods used to promote this proposal, and to counter its detractors? Does this proposal continue to unite the Bitcoin community, or does it divide it needlessly?
I have witnessed, over the past seven years, Bitcoin become progressively more and more separated from its creation. I have seen individuals come and go with little explanation. I have seen a few controversial and influential figures intentionally segregated. And I have seen Bitcoin suffer for it. I can't help but wonder whether this is not only intentional, but malicious.
I, myself, have done my own small part to attempt to unite Bitcoin, to re-connect it to its creation, to determine and to share what is really going on. For this, I have been censored and maligned. I don't take it personally. But it does beg the question:
Is Bitcoin being deliberately divided?
I'm not talking about decentralization, whether of nodes or of mining or of development or of trading or of discussion or of the real Bitcoin economy. That's all well and good.
I'm talking about fundamental, basic, irreversible... division. Permanent and intentional separation of Bitcoin, from its creation.
submitted by benjamindees to btc [link] [comments]

Long live decentralized bitcoin(!) A reading list

Newbs might not know this, but bitcoin recently came out of an intense internal drama. Between July 2015 and August 2017 bitcoin was attacked by external forces who were hoping to destroy the very properties that made bitcoin valuable in the first place. This culminated in the creation of segwit and the UASF (user activated soft fork) movement. The UASF was successful, segwit was added to bitcoin and with that the anti-decentralization side left bitcoin altogether and created their own altcoin called bcash. Bitcoin's price was $2500, soon after segwit was activated the price doubled to $5000 and continued rising until a top of $20000 before correcting to where we are today.
During this drama, I took time away from writing open source code to help educate and argue on reddit, twitter and other social media. I came up with a reading list for quickly copypasting things. It may be interesting today for newbs or anyone who wants a history lesson on what exactly happened during those two years when bitcoin's very existence as a decentralized low-trust currency was questioned. Now the fight has essentially been won, I try not to comment on reddit that much anymore. There's nothing left to do except wait for Lightning and similar tech to become mature (or better yet, help code it and test it)
In this thread you can learn about block sizes, latency, decentralization, segwit, ASICBOOST, lightning network and all the other issues that were debated endlessly for over two years. So when someone tries to get you to invest in bcash, remind them of the time they supported Bitcoin Unlimited.
For more threads like this see UASF

Summary / The fundamental tradeoff

A trip to the moon requires a rocket with multiple stages by gmaxwell (must read) https://www.reddit.com/Bitcoin/comments/438hx0/a_trip_to_the_moon_requires_a_rocket_with/
Bram Cohen, creator of bittorrent, argues against a hard fork to a larger block size https://medium.com/@bramcohen/bitcoin-s-ironic-crisis-32226a85e39f#.558vetum4
gmaxwell's summary of the debate https://bitcointalk.org/index.php?topic=1343716.msg13701818#msg13701818
Core devs please explain your vision (see luke's post which also argues that blocks are already too big) https://www.reddit.com/Bitcoin/comments/61yvvv/request_to_core_devs_please_explain_your_vision/
Mod of btc speaking against a hard fork https://www.reddit.com/btc/comments/57hd14/core_reaction_to_viabtc_this_week/d8scokm/
It's becoming clear to me that a lot of people don't understand how fragile bitcoin is https://www.reddit.com/Bitcoin/comments/59kflj/its_becoming_clear_to_me_that_a_lot_of_people/
Blockchain space must be costly, it can never be free https://www.reddit.com/Bitcoin/comments/4og24h/i_just_attended_the_distributed_trade_conference/
Charlie Lee with a nice analogy about the fundamental tradeoff https://medium.com/@SatoshiLite/eating-the-bitcoin-cake-fc2b4ebfb85e#.444vr8shw
gmaxwell on the tradeoffs https://bitcointalk.org/index.php?topic=1520693.msg15303746#msg15303746
jratcliff on the layering https://www.reddit.com/btc/comments/59upyh/segwit_the_poison_pill_for_bitcoin/d9bstuw/

Scaling on-chain will destroy bitcoin's decentralization

Peter Todd: How a floating blocksize limit inevitably leads towards centralization [Feb 2013] https://bitcointalk.org/index.php?topic=144895.0 mailing list https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2013-February/002176.html with discussion on reddit in Aug 2015 https://www.reddit.com/Bitcoin/comments/3hnvi8/just_a_little_history_lesson_for_everyone_new_the/
Nick Szabo's blog post on what makes bitcoin so special http://unenumerated.blogspot.com/2017/02/money-blockchains-and-social-scalability.html
There is academic research showing that even small (2MB) increases to the blocksize results in drastic node dropoff counts due to the non-linear increase of RAM needed. http://bravenewcoin.com/assets/Whitepapers/block-size-1.1.1.pdf
Reddit summary of above link. In this table, you can see it estimates a 40% drop immediately in node count with a 2MB upgrade and a 50% over 6 months. At 4mb, it becomes 75% immediately and 80% over 6 months. At 8, it becomes 90% and 95%. https://www.reddit.com/Bitcoin/comments/5qw2wa_future_led_by_bitcoin_unlimited_is_a/dd442pw/
Larger block sizes make centralization pressures worse (mathematical) https://petertodd.org/2016/block-publication-incentives-for-miners
Talk at scalingbitcoin montreal, initial blockchain synchronization puts serious constraints on any increase in the block size https://www.youtube.com/watch?v=TgjrS-BPWDQ&t=2h02m06s with transcript https://scalingbitcoin.org/transcript/montreal2015/block-synchronization-time
Bitcoin's P2P Network: The Soft Underbelly of Bitcoin https://www.youtube.com/watch?v=Y6kibPzbrIc someone's notes: https://gist.github.com/romyilano/5e22394857a39889a1e5 reddit discussion https://www.reddit.com/Bitcoin/comments/4py5df/so_f2pool_antpool_btcc_pool_are_actually_one_pool/
In adversarial environments blockchains dont scale https://scalingbitcoin.org/transcript/hongkong2015/in-adversarial-environments-blockchains-dont-scale
Why miners will not voluntarily individually produce smaller blocks https://scalingbitcoin.org/transcript/hongkong2015/why-miners-will-not-voluntarily-individually-produce-smaller-blocks
Hal Finney: bitcoin's blockchain can only be a settlement layer (mostly interesting because it's hal finney and its in 2010) https://www.reddit.com/Bitcoin/comments/3sb5nj/most_bitcoin_transactions_will_occur_between/
petertodd's 2013 video explaining this https://www.youtube.com/watch?v=cZp7UGgBR0I
luke-jr's summary https://www.reddit.com/Bitcoin/comments/61yvvv/request_to_core_devs_please_explain_your_vision/dficjhj/
Another jratcliff thread https://www.reddit.com/Bitcoin/comments/6lmpll/explaining_why_big_blocks_are_bad/

Full blocks are not a disaster

Blocks must be always full, there must always be a backlog https://medium.com/@bergealex4/bitcoin-is-unstable-without-the-block-size-size-limit-70db07070a54#.kh2vi86lr
Same as above, the mining gap means there must always be a backlog talk: https://www.youtube.com/watch?time_continue=2453&v=iKDC2DpzNbw transcript: https://scalingbitcoin.org/transcript/montreal2015/security-of-diminishing-block-subsidy
Backlogs arent that bad https://www.reddit.com/Bitcoin/comments/49p011/was_the_fee_event_really_so_bad_my_mind_is/
Examples where scarce block space causes people to use precious resources more efficiently https://www.reddit.com/Bitcoin/comments/4kxxvj/i_just_singlehandedly_increased_bitcoin_network/
https://www.reddit.com/Bitcoin/comments/47d4m2/why_does_coinbase_make_2_transactions_pe
https://www.reddit.com/Bitcoin/comments/53wucs/why_arent_blocks_full_yet/d7x19iv
Full blocks are fine https://www.reddit.com/Bitcoin/comments/5uld1a/misconception_full_blocks_mean_bitcoin_is_failing/
High miner fees imply a sustainable future for bitcoin https://www.reddit.com/BitcoinMarkets/comments/680tvf/fundamentals_friday_week_of_friday_april_28_2017/dgwmhl7/
gmaxwell on why full blocks are good https://www.reddit.com/Bitcoin/comments/6b57ca/full_blocks_good_or_bad/dhjxwbz/
The whole idea of the mempool being "filled" is wrong headed. The mempool doesn't "clog" or get stuck, or anything like that. https://www.reddit.com/Bitcoin/comments/7cusnx/to_the_people_still_doubting_that_this_congestion/dpssokf/

Segwit

What is segwit

luke-jr's longer summary https://www.reddit.com/Bitcoin/comments/6033h7/today_is_exactly_4_months_since_the_segwit_voting/df3tgwg/?context=1
Charlie Shrem's on upgrading to segwit https://twitter.com/CharlieShrem/status/842711238853513220
Original segwit talk at scalingbitcoin hong kong + transcript https://youtu.be/zchzn7aPQjI?t=110
https://scalingbitcoin.org/transcript/hongkong2015/segregated-witness-and-its-impact-on-scalability
Segwit is not too complex https://www.reddit.com/btc/comments/57vjin/segwit_is_not_great/d8vos33/
Segwit does not make it possible for miners to steal coins, contrary to what some people say https://www.reddit.com/btc/comments/5e6bt0/concerns_with_segwit_and_anyone_can_spend/daa5jat/?context=1
https://keepingstock.net/segwit-eli5-misinformation-faq-19908ceacf23#.r8hlzaquz
Segwit is required for a useful lightning network It's now known that without a malleability fix useful indefinite channels are not really possible.
https://www.reddit.com/Bitcoin/comments/5tzqtc/gentle_reminder_the_ln_doesnt_require_segwit/ddqgda7/
https://www.reddit.com/Bitcoin/comments/5tzqtc/gentle_reminder_the_ln_doesnt_require_segwit/ddqbukj/
https://www.reddit.com/Bitcoin/comments/5x2oh0/olaoluwa_osuntokun_all_active_lightning_network/deeto14/?context=3
Clearing up SegWit Lies and Myths: https://achow101.com/2016/04/Segwit-FUD-Clearup
Segwit is bigger blocks https://www.reddit.com/Bitcoin/comments/5pb8vs/misinformation_is_working_54_incorrectly_believe/dcpz3en/
Typical usage results in segwit allowing capacity equivalent to 2mb blocks https://www.reddit.com/Bitcoin/comments/69i2md/observe_for_yourself_segwit_allows_2_mb_blocks_in/

Why is segwit being blocked

Jihan Wu (head of largest bitcoin mining group) is blocking segwit because of perceived loss of income https://www.reddit.com/Bitcoin/comments/60mb9e/complete_high_quality_translation_of_jihans/
Witness discount creates aligned incentives https://segwit.org/why-a-discount-factor-of-4-why-not-2-or-8-bbcebe91721e#.h36odthq0 https://medium.com/@SegWit.co/what-is-behind-the-segwit-discount-988f29dc1edf#.sr91dg406
or because he wants his mining enterprise to have control over bitcoin https://www.reddit.com/Bitcoin/comments/6jdyk8/direct_report_of_jihan_wus_real_reason_fo

Segwit is being blocked because it breaks ASICBOOST, a patented optimization used by bitmain ASIC manufacturer

Details and discovery by gmaxwell https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-April/013996.html
Reddit thread with discussion https://www.reddit.com/Bitcoin/comments/63otrp/gregory_maxwell_major_asic_manufacturer_is/
Simplified explaination by jonny1000 https://www.reddit.com/Bitcoin/comments/64qq5g/attempted_explanation_of_the_alleged_asicboost/
http://www.mit.edu/~jlrubin/public/pdfs/Asicboost.pdf
https://medium.com/@jimmysong/examining-bitmains-claims-about-asicboost-1d61118c678d
Evidence https://www.reddit.com/Bitcoin/comments/63yo27/some_circumstantial_evidence_supporting_the_claim/
https://www.reddit.com/Bitcoin/comments/63vn5g/please_dont_stop_us_from_using_asicboost_which/dfxmm75/
https://www.reddit.com/Bitcoin/comments/63soe3/reverse_engineering_an_asic_is_a_significant_task/dfx9nc
Bitmain admits their chips have asicboost but they say they never used it on the network (haha a likely story) https://blog.bitmain.com/en/regarding-recent-allegations-smear-campaigns/
Worth $100m per year to them (also in gmaxwell's original email) https://twitter.com/petertoddbtc/status/849798529929424898
Other calculations show less https://medium.com/@vcorem/the-real-savings-from-asicboost-to-bitmaintech-ff265c2d305b
This also blocks all these other cool updates, not just segwit https://www.reddit.com/Bitcoin/comments/63otrp/gregory_maxwell_major_asic_manufacturer_is/dfw0ej3/
Summary of bad consequences of asicboost https://www.reddit.com/Bitcoin/comments/64qq5g/attempted_explanation_of_the_alleged_asicboost/dg4hyqk/?context=1
Luke's summary of the entire situation https://www.reddit.com/Bitcoin/comments/6ego3s/why_is_killing_asicboost_not_a_priority/diagkkb/?context=1
Prices goes up because now segwit looks more likely https://twitter.com/TuurDemeestestatus/849846845425799168
Asicboost discovery made the price rise https://twitter.com/TuurDemeestestatus/851520094677200901
A pool was caught red handed doing asicboost, by this time it seemed fairly certain that segwit would get activated so it didnt produce as much interest as earlier https://www.reddit.com/Bitcoin/comments/6p7lr5/1hash_pool_has_mined_2_invalid_blocks/ and https://www.reddit.com/Bitcoin/comments/6p95dl/interesting_1hash_pool_mined_some_invalid_blocks/ and https://twitter.com/petertoddbtc/status/889475196322811904
This btc user is outraged at the entire forum because they support Bitmain and ASICBOOST https://www.reddit.com/btc/comments/67t43y/dragons_den_planned_smear_campaign_of_bitmain/dgtg9l2/
Antbleed, turns out Bitmain can shut down all its ASICs by remote control: http://www.antbleed.com/

What if segwit never activates

What if segwit never activates? https://www.reddit.com/Bitcoin/comments/6ab8js/transaction_fees_are_now_making_btc_like_the_banks/dhdq3id/ with https://www.reddit.com/Bitcoin/comments/5ksu3o/blinded_bearer_certificates/ and https://www.reddit.com/Bitcoin/comments/4xy0fm/scaling_quickly/

Lightning

bitcoinmagazine's series on what lightning is and how it works https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-building-a-bidirectional-payment-channel-1464710791/ https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-creating-the-network-1465326903/ https://bitcoinmagazine.com/articles/understanding-the-lightning-network-part-completing-the-puzzle-and-closing-the-channel-1466178980/
The Lightning Network ELIDHDICACS (Explain Like I Don’t Have Degrees in Cryptography and Computer Science) https://letstalkbitcoin.com/blog/post/the-lightning-network-elidhdicacs
Ligtning will increases fees for miners, not lower them https://medium.com/lightning-resources/the-lightning-paradox-f15ce0e8e374#.erfgunumh
Cost-benefit analysis of lightning from the point of view of miners https://medium.com/@rusty_lightning/miners-and-bitcoin-lightning-a133cd550310#.x42rovlg8
Routing blog post by rusty https://medium.com/@rusty_lightning/routing-dijkstra-bellman-ford-and-bfg-7715840f004 and reddit comments https://www.reddit.com/Bitcoin/comments/4lzkz1/rusty_russell_on_lightning_routing_routing/
Lightning protocol rfc https://github.com/lightningnetwork/lightning-rfc
Blog post with screenshots of ln being used on testnet https://medium.com/@btc_coach/lightning-network-in-action-b18a035c955d video https://www.youtube.com/watch?v=mxGiMu4V7ns
Video of sending and receiving ln on testnet https://twitter.com/alexbosworth/status/844030573131706368
Lightning tradeoffs http://www.coindesk.com/lightning-technical-challenges-bitcoin-scalability/
Beer sold for testnet lightning https://www.reddit.com/Bitcoin/comments/62uw23/lightning_network_is_working_room77_is_accepting/ and https://twitter.com/MrHodl/status/848265171269283845
Lightning will result in far fewer coins being stored on third parties because it supports instant transactions https://medium.com/@thecryptoconomy/the-barely-discussed-incredible-benefit-of-the-lightning-network-4ce82c75eb58
jgarzik argues strongly against LN, he owns a coin tracking startup https://twitter.com/petertoddbtc/status/860826532650123264 https://twitter.com/Beautyon_/status/886128801926795264
luke's great debunking / answer of some misinformation questions https://www.reddit.com/Bitcoin/comments/6st4eq/questions_about_lightning_network/dlfap0u/
Lightning centralization doesnt happen https://www.reddit.com/Bitcoin/comments/6vzau5/reminder_bitcoins_key_strength_is_in_being/dm4ou3v/?context=1
roasbeef on hubs and charging fees https://twitter.com/roasbeef/status/930209165728825344 and https://twitter.com/roasbeef/status/930210145790976000

Immutability / Being a swiss bank in your pocket / Why doing a hard fork (especially without consensus) is damaging

A downside of hard forks is damaging bitcoin's immutability https://www.reddit.com/Bitcoin/comments/5em6vu/what_happens_if_segwit_doesnt_activate/dae1r6c/?context=3
Interesting analysis of miners incentives and how failure is possible, don't trust the miners for long term https://www.reddit.com/Bitcoin/comments/5gtew4/why_an_increased_block_size_increases_the_cost_of/daybazj/?context=2
waxwing on the meaning of cash and settlement https://www.reddit.com/Bitcoin/comments/5ei7m3/unconfirmed_transactions_60k_total_fees_14btc/dad001v/
maaku on the cash question https://www.reddit.com/Bitcoin/comments/5i5iq5/we_are_spoiled/db5luiv/?context=1
Digital gold funamentalists gain nothing from supporting a hard fork to larger block sizes https://www.reddit.com/Bitcoin/comments/5xzunq/core_please_compromise_before_we_end_up_with_bu/dem73xg/?context=1
Those asking for a compromise don't understand the underlying political forces https://www.reddit.com/Bitcoin/comments/6ef7wb/some_comments_on_the_bip148_uasf_from_the/dia236b/?context=3
Nobody wants a contentious hard fork actually, anti-core people got emotionally manipulated https://www.reddit.com/Bitcoin/comments/5sq5ocontentious_forks_vs_incremental_progress/ddip57o/
The hard work of the core developers has kept bitcoin scalable https://www.reddit.com/Bitcoin/comments/3hfgpo/an_initiative_to_bring_advanced_privacy_features/cu7mhw8?context=9
Recent PRs to improve bitcoin scaleability ignored by the debate https://twitter.com/jfnewbery/status/883001356168167425
gmaxwell against hard forks since 2013 https://bitcointalk.org/index.php?topic=140233.20
maaku: hard forks are really bad https://www.reddit.com/Bitcoin/comments/5zxjza/adam_greg_core_devs_and_big_blockers_now_is_the/df275yk/?context=2

Some metrics on what the market thinks of decentralization and hostile hard forks

The price history shows that the exchange rate drops every time a hard fork threatens: https://i.imgur.com/EVPYLR8.jpg
and this example from 2017 https://twitter.com/WhalePanda/status/845562763820912642
http://imgur.com/a/DuHAn btc users lose money
price supporting theymos' moderation https://i.imgur.com/0jZdF9h.png
old version https://i.imgur.com/BFTxTJl.png
older version https://pbs.twimg.com/media/CxqtUakUQAEmC0d.jpg
about 50% of nodes updated to the soft fork node quite quickly https://imgur.com/O0xboVI

Bitcoin Unlimited / Emergent Consensus is badly designed, changes the game theory of bitcoin

Bitcoin Unlimited was a proposed hard fork client, it was made with the intention to stop segwit from activating
A Future Led by Bitcoin Unlimited is a Centralized Future https://blog.sia.tech/a-future-led-by-bitcoin-unlimited-is-a-centralized-future-e48ab52c817a#.p1ly6hldk
Flexible transactions are bugged https://www.reddit.com/Bitcoin/comments/57tf5g/bitcoindev_bluematt_on_flexible_transactions/
Bugged BU software mines an invalid block, wasting 13 bitcoins or $12k
https://www.reddit.com/Bitcoin/comments/5qwtr2/bitcoincom_loses_132btc_trying_to_fork_the/
https://www.reddit.com/btc/comments/5qx18i/bitcoincom_loses_132btc_trying_to_fork_the/
bitcoin.com employees are moderators of btc https://medium.com/@WhalePanda/the-curious-relation-between-bitcoin-com-anti-segwit-propaganda-26c877249976#.vl02566k4
miners don't control stuff like the block size http://hackingdistributed.com/2016/01/03/time-for-bitcoin-user-voice/
even gavin agreed that economic majority controls things https://www.reddit.com/Bitcoin/comments/5ywoi9/in_2010_gavin_predicted_that_exchanges_ie_the/
fork clients are trying to steal bitcoin's brand and network effect, theyre no different from altcoins https://medium.com/@Coinosphere/why-bitcoin-unlimited-should-be-correctly-classified-as-an-attempted-robbery-of-bitcoin-not-a-9355d075763c#.qeaynlx5m
BU being active makes it easier to reverse payments, increases wasted work making the network less secure and giving an advantage to bigger miners https://www.reddit.com/Bitcoin/comments/5g1x84/bitcoin_unlimited_bu_median_value_of_miner_eb/
bitcoin unlimited takes power away from users and gives it to miners https://medium.com/@alpalpalp/bitcoin-unlimiteds-placebo-controls-6320cbc137d4#.q0dv15gd5
bitcoin unlimited's accepted depth https://twitter.com/tdryja/status/804770009272696832
BU's lying propaganda poster https://imgur.com/osrViDE

BU is bugged, poorly-reviewed and crashes

bitcoin unlimited allegedly funded by kraken stolen coins
https://www.reddit.com/btc/comments/55ajuh/taint_analysis_on_bitcoin_stolen_from_kraken_on/
https://www.reddit.com/btc/comments/559miz/taint_analysis_on_btc_allegedly_stolen_from_kraken/
Other funding stuff
https://www.reddit.com/Bitcoin/comments/5zozmn/damning_evidence_on_how_bitcoin_unlimited_pays/
A serious bug in BU https://www.reddit.com/Bitcoin/comments/5h70s3/bitcoin_unlimited_bu_the_developers_have_realized/
A summary of what's wrong with BU: https://www.reddit.com/Bitcoin/comments/5z3wg2/jihanwu_we_will_switch_the_entire_pool_to/devak98/

Bitcoin Unlimited Remote Exploit Crash 14/3/2017

https://www.reddit.com/Bitcoin/comments/5zdkv3/bitcoin_unlimited_remote_exploit_crash/ https://www.reddit.com/Bitcoin/comments/5zeb76/timbe https://www.reddit.com/btc/comments/5zdrru/peter_todd_bu_remote_crash_dos_wtf_bug_assert0_in/
BU devs calling it as disaster https://twitter.com/SooMartindale/status/841758265188966401 also btc deleted a thread about the exploit https://i.imgur.com/lVvFRqN.png
Summary of incident https://www.reddit.com/Bitcoin/comments/5zf97j/i_was_undecided_now_im_not/
More than 20 exchanges will list BTU as an altcoin
https://www.reddit.com/Bitcoin/comments/5zyg6g/bitcoin_exchanges_unveil_emergency_hard_fork/
Again a few days later https://www.reddit.com/Bitcoin/comments/60qmkt/bu_is_taking_another_shit_timberrrrr

User Activated Soft Fork (UASF)

site for it, including list of businesses supporting it http://www.uasf.co/
luke's view
https://www.reddit.com/Bitcoin/comments/5zsk45/i_am_shaolinfry_author_of_the_recent_usedf1dqen/?context=3
threat of UASF makes the miner fall into line in litecoin
https://www.reddit.com/litecoin/comments/66omhlitecoin_global_roundtable_resolution/dgk2thk/?context=3
UASF delivers the goods for vertcoin
https://www.reddit.com/Bitcoin/comments/692mi3/in_test_case_uasf_results_in_miner_consensus/dh3cm34/?context=1
UASF coin is more valuable https://www.reddit.com/Bitcoin/comments/6cgv44/a_uasf_chain_will_be_profoundly_more_valuable/
All the links together in one place https://www.reddit.com/Bitcoin/comments/6dzpew/hi_its_mkwia_again_maintainer_of_uasfbitcoin_on/
p2sh was a uasf https://github.com/bitcoin/bitcoin/blob/v0.6.0/src/main.cpp#L1281-L1283
jgarzik annoyed at the strict timeline that segwit2x has to follow because of bip148 https://twitter.com/jgarzik/status/886605836902162432
Committed intolerant minority https://www.reddit.com/Bitcoin/comments/6d7dyt/a_plea_for_rational_intolerance_extremism_and/
alp on the game theory of the intolerant minority https://medium.com/@alpalpalp/user-activated-soft-forks-and-the-intolerant-minority-a54e57869f57
The risk of UASF is less than the cost of doing nothing https://www.reddit.com/Bitcoin/comments/6bof7a/were_getting_to_the_point_where_a_the_cost_of_not/
uasf delivered the goods for bitcoin, it forced antpool and others to signal (May 2016) https://bitcoinmagazine.com/articles/antpool-will-not-run-segwit-without-block-size-increase-hard-fork-1464028753/ "When asked specifically whether Antpool would run SegWit code without a hard fork increase in the block size also included in a release of Bitcoin Core, Wu responded: “No. It is acceptable that the hard fork code is not activated, but it needs to be included in a ‘release’ of Bitcoin Core. I have made it clear about the definition of ‘release,’ which is not ‘public.’”"
Screenshot of peter rizun capitulating https://twitter.com/chris_belcher_/status/905231603991007232

Fighting off 2x HF

https://twitter.com/MrHodl/status/895089909723049984
https://www.reddit.com/Bitcoin/comments/6h612o/can_someone_explain_to_me_why_core_wont_endorse/?st=j6ic5n17&sh=cc37ee23
https://www.reddit.com/Bitcoin/comments/6smezz/segwit2x_hard_fork_is_completely_useless_its_a/?st=j6ic2aw3&sh=371418dd
https://www.reddit.com/Bitcoin/comments/6sbspv/who_exactly_is_segwit2x_catering_for_now_segwit/?st=j6ic5nic&sh=1f86cadd
https://medium.com/@elliotolds/lesser-known-reasons-to-keep-blocks-small-in-the-words-of-bitcoin-core-developers-44861968185e
b2x is most of all about firing core https://twitter.com/WhalePanda/status/912664487135760384
https://medium.com/@StopAndDecrypt/thats-not-bitcoin-this-is-bitcoin-95f05a6fd6c2

Misinformation / sockpuppets

https://www.reddit.com/Bitcoin/comments/6uqz6k/markets_update_bitcoin_cash_rallies_for_three/dlurbpx/
three year old account, only started posting today https://archive.is/3STjH
Why we should not hard fork after the UASF worked: https://www.reddit.com/Bitcoin/comments/6sl1qf/heres_why_we_should_not_hard_fork_in_a_few_months/

History

Good article that covers virtually all the important history https://bitcoinmagazine.com/articles/long-road-segwit-how-bitcoins-biggest-protocol-upgrade-became-reality/
Interesting post with some history pre-2015 https://btcmanager.com/the-long-history-of-the-fight-over-scaling-bitcoin/
The core scalabality roadmap + my summary from 3/2017 https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-Decembe011865.html my summary https://www.reddit.com/Bitcoin/comments/5xa5fa/the_core_development_scalability_roadmap/
History from summer 2015 https://www.reddit.com/Bitcoin/comments/5xg7f8/the_origins_of_the_blocksize_debate/
Brief reminders of the ETC situation https://www.reddit.com/Bitcoin/comments/6nvlgo/simple_breakdown_of_bip91_its_simply_the_miners/dkcycrz/
Longer writeup of ethereum's TheDAO bailout fraud https://www.reddit.com/ethereumfraud/comments/6bgvqv/faq_what_exactly_is_the_fraud_in_ethereum/
Point that the bigblocker side is only blocking segwit as a hostage https://www.reddit.com/BitcoinMarkets/comments/5sqhcq/daily_discussion_wednesday_february_08_2017/ddi3ctv/?context=3
jonny1000's recall of the history of bitcoin https://www.reddit.com/Bitcoin/comments/6s34gg/rbtc_spreading_misinformation_in_rbitcoinmarkets/dl9wkfx/

Misc (mostly memes)

libbitcoin's Understanding Bitcoin series (another must read, most of it) https://github.com/libbitcoin/libbitcoin/wiki/Understanding-Bitcoin
github commit where satoshi added the block size limit https://www.reddit.com/Bitcoin/comments/63859l/github_commit_where_satoshi_added_the_block_size/
hard fork proposals from some core devs https://bitcoinhardforkresearch.github.io/
blockstream hasnt taken over the entire bitcoin core project https://www.reddit.com/Bitcoin/comments/622bjp/bitcoin_core_blockstream/
blockstream is one of the good guys https://www.reddit.com/Bitcoin/comments/6cttkh/its_happening_blockstream_opens_liquid_sidechain/dhxu4e
Forkers, we're not raising a single byte! Song lyrics by belcher https://gist.github.com/chris-belche7264cd6750a86f8b4a9a
Some stuff here along with that cool photoshopped poster https://medium.com/@jimmysong/bitcoin-realism-or-how-i-learned-to-stop-worrying-and-love-1mb-blocks-c191c35e74cb
Nice graphic https://twitter.com/RNR_0/status/871070843698380800
gmaxwell saying how he is probably responsible for the most privacy tech in bitcoin, while mike hearn screwed up privacy https://www.reddit.com/btc/comments/6azyme/hey_bu_wheres_your_testnet/dhiq3xo/?context=6
Fairly cool propaganda poster https://twitter.com/urbanarson/status/880476631583924225
btc tankman https://i.redd.it/gxjqenzpr27z.png https://twitter.com/DanDarkPill/status/853653168151986177
asicboost discovery meme https://twitter.com/allenscottoshi/status/849888189124947971
https://twitter.com/urbanarson/status/882020516521013250
gavin wanted to kill the bitcoin chain https://twitter.com/allenscottoshi/status/849888189124947971
stuff that btc believes https://www.reddit.com/Bitcoin/comments/6ld4a5/serious_is_the_rbtc_and_the_bu_crowd_a_joke_how/djszsqu/
after segwit2x NYA got agreed all the fee pressure disappeared, laurenmt found they were artificial spam https://twitter.com/i/moments/885827802775396352
theymos saying why victory isnt inevitable https://www.reddit.com/Bitcoin/comments/6lmpll/explaining_why_big_blocks_are_bad/djvxv2o/
with ignorant enemies like these its no wonder we won https://bitco.in/forum/threads/gold-collapsing-bitcoin-up.16/page-999 ""So, once segwit2x activates, from that moment on it will require a coordinated fork to avoid the up coming "baked in" HF. ""
a positive effect of bcash, it made blockchain utxo spammers move away from bitcoin https://www.reddit.com/btc/comments/76lv0b/cryptograffitiinfo_now_accepts_bitcoin_cash/dof38gw/
summary of craig wright, jihan wu and roger ver's positions https://medium.com/@HjalmarPeters/the-big-blockers-bead6027deb2
Why is bitcoin so strong against attack?!?! (because we're motivated and awesome) https://www.reddit.com/btc/comments/64wo1h/bitcoin_unlimited_is_being_blocked_by_antivirus/dg5n00x/
what happened to #oldjeffgarzik https://www.reddit.com/Bitcoin/comments/6ufv5x/a_reminder_of_some_of_jeff_garziks_greatest/
big blockers fully deserve to lose every last bitcoin they ever had and more https://www.reddit.com/BitcoinMarkets/comments/756nxf/daily_discussion_monday_october_09_2017/do5ihqi/
gavinandresen brainstorming how to kill bitcoin with a 51% in a nasty way https://twitter.com/btcdrak/status/843914877542567937
Roger Ver as bitcoin Judas https://imgur.com/a/Rf1Pi
A bunch of tweets and memes celebrating UASF
https://twitter.com/shaolinfry/status/842457019286188032 | https://twitter.com/SatoshiLite/status/888335092560441345 | https://twitter.com/btcArtGallery/status/887485162925285377 | https://twitter.com/Beautyon_/status/888109901611802624 | https://twitter.com/Excellion/status/889211512966873088 | https://twitter.com/lopp/status/888200452197801984 | https://twitter.com/AlpacaSW/status/886988980524396544 | https://twitter.com/BashCo_/status/877253729531162624 | https://twitter.com/tdryja/status/865212300361379840 | https://twitter.com/Excellion/status/871179040157179904 | https://twitter.com/TraceMayestatus/849856343074902016 | https://twitter.com/TraceMayestatus/841855022640033792 | https://fs.bitcoinmagazine.com/img/images/Screen_Shot_2017-08-18_at_01.36.47.original.png
submitted by belcher_ to Bitcoin [link] [comments]

Grab your bitcoins boys

Been drama city for months, finally just exploded with Mike Hearn (one of the ol devs) quitting bitcoin development and selling all his coins. Most importantly announcing it on his way out the door. He's mad because his blocksize proposal didn't gain traction. Anyways, dude has his balls deep in a direct competitor so no wonder.
Bitcoin classic (a fork proposal) has passed critical mining majority (50% on board and counting) which is a blocksize increase amongst a change in "control". Basically it's a dream for bitcoin, one of its hugest hurdles at the moment looks to be solved shortly and the price tanked thanks to Hearn releasing am article in NYT.
Great buy opportunity and it seems to have hit bottom. Out @460 weeks ago in @360s meow.
Tl;dr Crybaby Dev with stake in competitor quits and spreads tons of FUD, plebs panic-sell right as consensus is finally coming to fruition on scaling issue. Not to mention inflation is set to halve this year
7k in
Edit: Was 365when I started typing, 375 10minutes later. How the fuck do you not all trade bitcoin? It's so volatile, fucking beautiful.
submitted by jaspmf to wallstreetbets [link] [comments]

Can a core dev explain again what's the problem with 2mb + seg wit ?

For clarification purposes, I'm not a computer scientist. I'm quite well informed on Bitcoin and economics and I am a bitcoin holder. And I run a proper node (well non mining..). Good Bitcoiner here :) I still don't know which side of the block size is right. I assume good faith from both sides and to me the ad-hominem attacks and accusation of nefarious intents are silly (Except in the case of Mike Hearn who ironically championed these dirty tactics)
I think it's a good thing he is gone, because too divisive, too statist, didn't see anything wrong with centralisation, blacklisting etc.. Jeff and Gavin on the other hand I have no doubt have a lot of skin in the game and hold very dear the ideals of Bitcoin: freedom. And both of them pay attention not only to the technical side but also to the economics of Bitcoin.
Now I have to say that if forced to choose, my logic would I guess be to stick with core developpers. Bitcoin is far from its final form and they are the one getting us there. They have delivered in the last few years, and are also building a lot of the innovations most of us are looking forward to. So the the technical side of it seems to be in their favor.
BUT I have discussed this issue multiple times with friends (including computer engineers) and most of us still don't get what is the REAL problem with reasonably bigger blocks.
I think one big issue is that some people who were arguing for 1mb in the past came up with the node count as a reason to not increase the blocksize. The number of bitcoin nodes hasn't fallen from 10K+ to 5k because it's costly to run a node at 1mb. It is very cheap to run a node for the majority of the users. Marginal cost almost 0. More or less the same for 4mb. The reason people are not running nodes is because they don't care. It's the same thing as GHASH, people will run nodes when they feel we are REALLY too low. They will only care if they see an imminent dangewarning. It's a little bit of hassle to run a node: human being are extremely lazy, just forwarding a port for example or letting your computer run 24/24 is a roadblock. The hassle again is more or less the same at 1mb or 4mb. At way higher size, you could have a node on a barebone for a few hundred bucks. This is nothing, we have thousands of people holding 5-8 figures in $ of bitcoin. They could spend much more than that on running a node if they had to. So I think this argument is counterproductive because easily dismissed. Everytime I hear it, I feel like if it's all that you have, then let's do it. But I suspect there are much stronger arguments to be made, so I would like to hear about them. That's why I'm posting here.
So can you explain in layman's terms why exactly 4mb (2m+seg wit) blocks pose any serious problem ?What's the treshold and why? I mean Adam Back was proposing 8mb (So 4mb with seg witness) only a few months ago. And If 4mb is fine then, why not do it ?
I understand this is part a political decision, people (business, bitcoin holders) are worried about Bitcoin's adoption and future viability. Maybe they should just wait patiently.. But on the other hand if 4mb is not a technical problem then why not accomodate them ? It's not like we are anywhere near mainstream adoption, it's not impacting a fundamental characteristic of Bitcoin either (decentralisation, scarcity, fungibility -which is still lacking a bit-). If you think it's impacting decentralisation, then can you please lay out clear arguments once again?
TLDR: not decided on which side is right, support bitcoin core, trust Gavin and Jeff too, don't think node count is a valid argument, ask what's the real technical problem and the treshold with 4mb or more.
Edit:
  • Some answers on this page: https://bitcoin.org/en/bitcoin-core/capacity-increases-faq#size-bump but doesn't provide very strong arguments against 2mb in my opinion. "We don't have the experience" => Now might be a goodtime to experience it. "Upgrades Required" => Doesn't seem like a major reason not do it. "Other changes required"=> Let's see what Bitcoin Classic proposes on these ?
  • Another interesting post here: https://www.reddit.com/Bitcoin/comments/4151ng/the_mike_hearn_show_season_finale_and_bitcoin/
  • On the Bitcoin core Slack, somebody told me for him the problem is the Hard fork not the size increase. For him a Hard fork without strong consensus constitutes a breach of the social contract. But there was no strong technical arguments presentented. However I don't think any core dev were presents to answer.
submitted by Taidiji to Bitcoin [link] [comments]

I mined the top comments from every "Daily Discussion" thread on /r/BitcoinMarkets since 2014 & indexed their URL's for easy access. Check it out!

Hey all -
Like many of you, I read the "Daily Discussion" threads on /bitcoinmarkets and /ethtrader. A week or two back, I decided it'd be smart/valuable to mine the top comments for each daily thread with the goal of eventually enabling sentiment analysis & scoring via machine learning.
As of today, I have data going back to January 2014 for Bitcoin and March 2016 for Ethereum. I have the URL for every daily thread indexed, and built a simple web app dashboard so you can easily find a particular day's content: https://teachmehowto.trade/reddit-mine
Screenshot (for those on mobile): https://i.imgur.com/ogpTYTD.png
The raw comments are stored in a MySQL RDS instance: https://i.imgur.com/f9PvteL.png
So for those of you who wanna reminisce, or dig in the archives, I've hopefully made it a little easier to go back in time. For kicks, here's are a few of the gems to remind you just how far we've come:
For any data scientists with experience in NLP that see this and wanna collaborate on that aspect, don't hesitate to reach out! I'm working on making each day's data available for download from S3 in a .csv.gz or similar for ingestion into ML frameworks.
Feedback is always welcome. There's a couple donation links in the 'About' modal if you feel inclined to buy me a beer (not gonna spam them here).
Enjoy!
submitted by ARRRBEEE to BitcoinMarkets [link] [comments]

Could Satoshi Nakamoto be Mike Hearn?

Could Satoshi Nakamoto be Mike Hearn?

There are many coincidences involving a Mike Hearn and Satoshi Nakamoto connection. Some of you will automatically reject the notion because you dislike Mike Hearn, although here on /btc I figured you may at least entertain the idea since he isn't as hated here. I have seen Mike Hearn on the long list of “Satoshi candidates” posted on bitcointalk but I have never seen anyone explore the idea.
Besides Mike being British and Satoshi using British English my first inclination to even consider Mike Hearn as being Satoshi Nakamoto was that Mike’s bitcointalk.org profile was created 1 day after Satoshi last logged in to the forum.
Satoshi’s profile: https://bitcointalk.org/index.php?action=profile;u=3 Mike’s profile: https://bitcointalk.org/index.php?action=profile;u=2700
Mike’s bitcointalk presence began 1 day 53 minutes and 13 seconds after Satoshi’s bitcointalk presence ended. Almost exactly 1 day separating their profiles seemed odd to me especially considering the impact Mike had in development later on.
Why would Satoshi Nakamoto hide his real identity?
The people who created the precursors to Bitcoin were not anonymous. Satoshi even referenced multiple influences by name in his whitepaper like Wei Dai, Ralph Merkle, and Adam Back. So why did the person behind Satoshi feel the need to remain anonymous? There doesn’t seem to be any precedent in the small niche of people who attempted to make digital/electronic cash. A lot of people are constantly regurgitating the idea that Satoshi knew how big Bitcoin would become and that Governments or nefarious people would want to hunt him down for his bitcoin holdings or for simply inventing bitcoin. In reality, Satoshi didn’t even know if his invention would gain traction. Satoshi didn’t know he would be one of a handful of users running bitcoin in the first year which would allow him to mine as many blocks as he did. Satoshi didn’t know how much bitcoin would actually be worth.
So I think the better question is why would Mike Hearn hide is identity?
Mike Hearn in mid August 2006 was hired on by Google as a Site Reliability Engineer (http://web.archive.org/web/20090514053312/http://mikehearn.wordpress.com:80/2006/08/)
Why would an employee of Google secretly develop something? Well, Google themselves sum it up pretty nicely here:
As part of your employment agreement, Google most likely owns intellectual property (IP) you create while at the company. Because Google’s business interests are so wide and varied, this likely applies to any personal project you have. That includes new development on personal projects you created prior to employment at Google.
(https://opensource.google.com/docs/iarc/ )
Here Mike was indeed fully aware of Google’s policy when he released bitcoinj as a Google copyrighted project under the Apache 2 license: https://bitcointalk.org/index.php?topic=4236.msg61438#msg61438 https://bitcointalk.org/index.php?topic=4236.msg61658#msg61658
Then here he is emailing Satoshi (himself Wink) a few hours after the bitcointalk announcement: Quote:
From: Mike Hearn [email protected] Date: Mon, Mar 7, 2011 at 2:13 PM To: Satoshi Nakamoto [email protected] Hi Satoshi, I hope you are doing well. I finally got all the lawyers happy enough to release BitCoinJ under the Google name using the Apache 2 license: ….
https://pastebin.com/JF3USKFT
I have no idea how long it takes Google to vet an employee project and license it, but combine that with building bitcoinj and doing that all under 3 months seems fast. What do I know, maybe bitcoinj was a pretty simple project.
I wonder what Google would have done with Bitcoin had Satoshi been an employee of Google?
A silly little find was Mike claiming he supposedly “coined the term SPV”. Or, did he? Here is Peter Todd https://twitter.com/petertoddbtc/status/649413412158599168 and here is the reddit thread to go along with it: https://www.reddit.com/Bitcoin/comments/3n1ydp/peter_todd_on_twitter_mike_hearn_claiming_he/
The term “SPV” does not appear in the whitepaper but its meaning does. Simplified Payment Verification is section 8 of the whitepaper. Did Mike slip and just inadvertently hint to him being the real Satoshi? Upon further investigation Mike had claimed months earlier that he coined the term “SPV wallet”. https://medium.com/@octskyward/the-capacity-cliff-586d1bf7715e So he could have meant to say SPV wallet when Peter Todd was calling him out or maybe he did mean to say just “SPV”. Still not the smoking gun but interesting that he would throw that around knowing full well that Simplified Payment Verification was in the Whitepaper.
[After writing this up, Mike just released all his private Satoshi Emails through a user named CipherionX. Mike did show up in a reddit thread to confirm that they came from him and are indeed not fake. Bitcointalk link: https://bitcointalk.org/index.php?topic=2080206.0 Reddit link to Mike’s post: https://www.reddit.com/btc/comments/6t2ci2/never_before_seen_mike_hearn_satoshi_nakamoto/dliizv6/ ] It is very plausible that in order to remain separate from something, that someone would in fact have email conversations between himself and an alias as “proof” that they are completely different independent people. Of course this would only make sense if the emails were made public at some point. Well guess what? Mike just made them public and Mike also attempted to divulge them to Charles Hoskinson in 2013 who did not release them to the public.
If the dates can be trusted, Mike’s email leak serves as proof that he was there early on even if he was corresponding with himself Wink Besides the new email dump the only known public involvement that I could find was here on the sourceforge forum in October 2009: https://sourceforge.net/p/bitcoin/mailman/bitcoin-list/thread/f4cd80640910240804m64ba45f1g216905fc9db16a2%40mail.gmail.com/#msg23827020 .
Why did Mike not use Sourceforge as he posted openly so frequently in other project lists or forums? Are there posts that I haven’t seen from early on?
Mike did produce an email he sent to Satoshi In April of 2009 here in this thread: https://bitcoinfoundation.org/forum/index.php?/topic/54-my-first-message-to-satoshi/ which does correspond with the new email dump. An interesting thing I noticed in the above link is that Mike stated, Quote
Fun. Here's mine, 12th April 2009. Back then the only documentation was the white paper and hardly anyone had explored the code, so a lot of my questions were very newbie-ish. Also I capitalized Bitcoin wrong.
But Mike continued to capitalize Bitcoin as BitCoin not just in that email but until May 14, 2011. Why is that interesting? Well, every thread and post he responded to that mentioned the word bitcoin didn’t capitalize the “C” ever. It would seem like he was almost doing it on purpose to show what a noob he was to the project. Oh then he of course points out the fact that he was a newbie for capitalizing bitcoin that way. It is odd that he continued to use that spelling without regard to how everyone else was spelling it and then later direct people’s attention to the fact that he use to spell it that way early on.
Also, what is odd about Mike’s involvement early on is that it doesn’t really parallel with his natural online demeanor. He is very vocal and has an involved online presence yet he just really isn’t vocal during the early stages of Bitcoin. Even his personal blog posts came to a halt in early 2009. https://web.archive.org/web/20111130084418/http://mikehearn.wordpress.com:80/ For someone who is generally very active online before Bitcoin and then after Satoshi’s disappearence, I find it peculiar that there is a dead silence period from Mike Hearn while Satoshi existed online. Mike went Facebook silent from July 23, 2007 to March 8, 2011 which also coincides with Satoshi’s existence and pre-release development of Bitcoin. https://www.facebook.com/i.am.the.real.mike?lst=662933243%3A61203304%3A1502324015
The next step in my exploration of this idea was to create a calendar of time periods where Satoshi was silent on the forums. For example, Satoshi was silent on the forum from March 24, 2010 until May 16, 2010. I am guessing this is a period when Satoshi was away from his home travelling or vacationing. I was wanting to then correspond them with known dates when Mike was on vacations or at a conference, but as I stated above MIke wasn’t very public during Satoshi’s presence. If anyone knows of any of the potential Satoshis that were vacationing, hospitalized (Hal?), or travelling during that March to May gap in 2010, it would be a good link to the real Satoshi.
Hal Finney was also involved at the start only to leave and eventually return. He came back a month before Satoshi departed though. Hal was the recipient of bitcoins first transaction and helped Satoshi troubleshoot early problems [Suspicious link removed]j.com/public/resources/documents/finneynakamotoemails.pdf
Their correspondence lead me to believe that Satoshi may have had either a rapport or at the least some familiarity with Hal. I decided to search Mike Hearn and Hal Finney together which turned up a nice find. Here, https://sourceforge.net/p/tboot/mailman/tboot-devel/?style=threaded&viewmonth=200807 Mike and Hal are talking about Trusted Computing back in July 2008, just months before the bitcoin whitepaper surfaced. Unfortunately I don’t quite fully understand Trusted Computing and the reason Mike Hearn was inquiring about a trusted web browser or how it would relate to Bitcoin, Quote
I'd like to launch Firefox in a protected domain and have it usable for surfing the web. My vague, poorly thought out plan was to let the user pick a photo from a library as proof of the trusted path, then show it in a tab at startup. Once you saw the personal photo, you'd know you were interacting with a copy of the browser that'd be safe to use even on a malware-riddled machine.
However, I did also find this thread from Mike Hearn which Hal Finney later resurrected about TC: https://bitcointalk.org/index.php?topic=67508.0 And even more interesting, Hal Finney later wrote in his brief memoir of bitcoin, “Bitcoin and Me”, posted on the bitcointalk forum (https://bitcointalk.org/index.php?topic=155054.0) that he was currently “working on something Mike Hearn suggested, using the security features of modern processors, designed to support "Trusted Computing", to harden Bitcoin wallets.” Was Mike Hearn originally researching a use for trusted computing in Bitcoin but never implemented it only to later pass it on to Hal FInney as a “suggestion”? Mike on Google+ posted a link to Hal’s TC project when he learned Hal passed away and linked to Hal’s post on BTCtalk (https://plus.google.com/+MikeHearn ; https://bitcointalk.org/index.php?topic=154290.0 )
So,
here is Satoshi stating he started working on bitcoin in 2007 https://bitcointalk.org/index.php?topic=195.msg1617#msg1617, here Satoshi said he was done writing Bitcoin by July 2008 because that is when Google protocol buffers was made public”I looked at Google protocol buffers when they were released last year, but I had already written everything by then.” https://pastebin.com/Na5FwkQ4 and then above Mike Hearn in July 2008 is seeking guidance from Hal about trusted computing and then Hal working on trusted computing application on the suggestion of Mike for bitcoin. Ok why? Well bitcoin was already done by July 2008 when Mike was inquiring about TC and Hal was working on a TC application later, meaning that TC has some application not related to the core of bitcoin but rather to a peripheral of bitcoin and Mike may have been researching that possibility.
[Super Weak] Searching for more clues about Satoshi I came across a colloquial/slang term that he used. “Hack on” was used by Satoshi in the context of “work on”. https://bitcointalk.org/index.php?topic=1034.msg13206#msg13206 I found multiple instances where Mike Hearn used the same exact term in the same context: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-April/007779.html http://bitcoin-development.narkive.com/hczWIAby/bitcoin-development-cartographer https://web.archive.org/web/20170628004052/http://www.advogato.org/person/mikehearn/ https://mail.gnome.org/archives/desktop-devel-list/2003-March/msg00031.html I do admit the “hack on” argument is lame evidence as it is somewhat common term. However, not everyone used it in that context (like Hal Finney didn’t) and it does add to the list of coincidences.
[Warning: Extreme Reaching] Another super weak semi-coincidence is Mike Hearns birthday. Mike’s birthday is April 17th, 1984. Satoshi’s birthday was chosen as April 5th, 1975. I don’t know about you, but a lot of times when I have to enter a birthday in a service where I don’t want them knowing the truth, I usually always use my real birth month with fake day and year. [More reaching] adding 1975’s digits equal adding 1984’s digits/ 7+5=12 and 8+4=12. I know, I know...
According to Mike Hearn, Satoshi “communicated with a few of the core developers before leaving. He told myself and Gavin that he had moved on to other things and that the project was in good hands.“ https://bitcointalk.org/index.php?topic=145850.msg1558053#msg1558053 This is also backed up by the new email release here: https://pastebin.com/syrmi3ET Mike- “I had a few other things on my mind (as always). One is, are you planning on rejoining the community at some point (eg for code reviews), or is your plan to permanently step back from the limelight?” Satoshi- “I've moved on to other things. It's in good hands with Gavin and everyone.” The above communication is supposedly the first time anyone heard that Satoshi was leaving for good and it was none other than Mike Hearn as the recipient. Then a few days later Satoshi told Gavin the same thing.
None of these things points or alludes to Mike being Satoshi by themselves. But I do think that all these things together do paint a possible connection. Mike denied being Satoshi when I emailed him and also didn’t seem to care that I would post these things online attempting to connect him to Satoshi.
submitted by SkyScraper_Farms to btc [link] [comments]

A few thoughts - Wednesday, July 2, 2014

A few thoughts for dinner tonight:

Disappointed at winner of bounty

I was extremely disappointed by the announcement at http://www.reddit.com/Bitcoin/comments/29n8o0/100000_bounty_winner_announcement/ of the winner in the recent $100,000 Bitcoin Foundation replacement challenge. The winner was announced to be mike_hearn, who I criticized in depth on Monday for what will be an ineffective plan designed to produce high-quality updates to the bitcoin codebase. You can read Monday's comments for the reasons why I believe his proposal is flawed.
Both of the entrants who were congratulated in that announcement were significantly flawed and I don't believe either one will address the problem in any meaningful fashion. Hearn's proposal ignores the economics of software development and naively assumes that piecemeal development is going to produce quality work, or that the best developers are going to quit jobs for what amounts to temp work with no benefits.
The "Eris" proposal is better, but fails on the fundamental flaw that it was built on the Ethereum network. The Ethereum developers have interests that are not aligned with the bitcoin developers' interests, and Ethereum is a premined currency where almost a quarter is held by a small group. The Eris proposal introduces an unnecessary dependency that, if Ethereum fails, would bring significant harm to bitcoins. Everything that Ethereum does can be done with bitcoin, and there are already some services sprouting up to build on top of the existing bitcoin protocol. A truly innovative solution would have developed a way to run a system like Eris on top of bitcoin.
This is what happens when you offer bounties. Instead of getting exceptional results, you have to choose between suboptimal, rushed choices. Not only that, but the money is essentially wasted; Hearn, who is backed by VCs and is rich himself, does not need to win $100,000. While $100,000 is not enough money to produce great software, it could have been a nice payment for a proof-of-concept by a group with a workable idea that was vetted before development began.

Russia softens stance on bitcoin

One of the best pieces of news to come out recently is that Russia has "softened its stance" on the use of bitcoins. Given that the Chinese and Russians share many common interests in the world and are both dictatorial regimes, some of the Chinese bankers must be particularly perturbed by this decision.
I wouldn't expect this news to have any impact at all on the markets or even on the adoption of bitcoins in Russia. Even if bitcoins were made 100% legal tomorrow, it would still take Russian businessmen many years to produce services like those already present in the West.

GHash.io returns

Just when the previous two days could not have possibly had more good news for cryptocurrencies, GHash.io again threatens by raising its market share to 43%. As I've stated before, I'm not significantly concerned that GHash.io is going to take over the network in any way. The major concern is whether news articles start appearing from people who claim that bitcoins are going to be done because of this event.
I was involved in a conversation with some people last week and we were trying to puzzle out their business model. I, at least, was unable to do so. For our pool, we are going to spend about $4k in hardware plus $219.99/month in bandwidth. These costs are incurred not even on day one, but on day -30, well before we can even launch. This stuff isn't cheap and GHash.io has to buy computers like this to support their operations.
You can't run a 0% mining pool without some source of revenue. Doing this out of the goodness of your heart to support the network requires 1% just to break even. GHash.io, therefore, is losing money to offer their service. What could a business possibly want with a product that not only loses money, but never has any potential to earn money? It's not as if you're selling propane at a loss in the summer becuase you know its value will be higher to people in the winter. Here, GHash.io just gives away stuff for nothing at their own expense without ever expecting anything in return.
The key to figuring stuff out is always to follow the money. Where is the money to be made here? One way to make money is to control the flow of transactions in some way, but since anyone can take transaction fees, it doesn't make sense for someone to pay more for "priority" service to them. They could be trying to reduce variance for their in-house mining operation, but if their in-house operation mines as many blocks as people say it does, why does variance matter if you control 25% of the network versus 50%? Another thought is that they simply have no business plan, and they are like the startups in '99 that VCs were pouring millions into. The plan during the dot-com bubble was simply to get more users, and once there are lots of users, some company will be foolish enough to buy the unprofitable company out.

More prognosticators trying to "forget" predictions

Right on the hands of CryptoCoinsNews ignoring that they predicted bitcoins would fall to $120 in May, we have this guy (http://newsbtc.com/2014/07/01/prof-mark-t-williams-concerns-bitcoin-remain/) saying "My concerns about bitcoin remain."
It seems to be commonplace that people who make incorrect predictions never attempt to even analyze what could have caused them to be incorrect. I would have thought that a tenured professor would be of a higher ethical caliber than the CryptoCoinsNews authors, but I guess degrees have little to do with apologizing for being wrong.

Two types of people

After some of the commentary about yesterday's scenario of damage by a roommate, I realized that there are two types of people in the world, which I will call "parasitic" and "growth" people.
"Parasitic" people are those who you believe are friends and who you get along with well, until some point where underlying negative behavior is exposed. These people are willing to take advantage of you, whether they begin the friendship/acquaintence/relationship with that in mind or not. One example is yesterday's story. Another is a case where I signed a contract to do video of a wedding a few years ago as a free gift, only to find out when I arrived that I was asked to pay for my lodging. Even if the lodging had not been included in the contract (which it was), a reasonable person would have recognized that the right thing to do is to provide cheap accomodations when a $2000 video was being provided for nothing. In another instance, I offered to make DVD copies back when DVD-R's were expensive, about $5 each. Some people took the copies and later never mentioned paying for the materials. Another example is when you go to a restuarant and order cranberry juice, and the other people order five wines each. Parasitic people assume that it's acceptable to split the bill.
A counterexample to those people are "growth" people, who are genuinely interested in helping others. One time, I called someone who owned a house in a vacation area and inquired what hotels were the best places to stay in the area. She offered her house, which was worth $1000/wk, and not only that, she showed up at the house to cook meals and provide transportation and tours, taking nothing in return. She refused my offer of a visit to our house, and offered to host us again later.
The problem is that "parasitic" people make up about 90% of the population, and "growth" people make up only about 10%. My theory is that many people set too low a bar for their associations, and therefore get taken advantage of by such people. I think that what one needs to do is to immediately sever ties with people when they start to inordinately rely on your money, your kindness, or your time.
Many people, however, correctly recognize that the growth people are rare, and "settle" for friendships with the parasitic people. The key is recognizing that it's better to have no friends at all than to have parasitic people in your life. When you try to retain contact with the parasitic types, you end up losing valuable resources (like money, time, and energy) that could be better spent towards meeting people of a higher caliber. Therefore, while I was initially shocked at the condemnation of the roommate in most of the replies, I'm of agreement with the commenters in the previous thread that it's important to continually watch out for this sort of behavior and get those people out of your life before they drag you down.

Other

submitted by quintin3265 to BitcoinThoughts [link] [comments]

Subreddit Stats: btc posts from 2018-05-14 to 2018-05-19 12:59 PDT

Period: 5.31 days
Submissions Comments
Total 783 12622
Rate (per day) 147.47 2006.25
Unique Redditors 432 1955
Combined Score 23860 47871

Top Submitters' Top Submissions

  1. 1470 points, 7 submissions: hunk_quark
    1. Purse.io is paying its employees in Bitcoin Cash. (441 points, 63 comments)
    2. Forbes Author Frances Coppola takes blockstream to task. (359 points, 35 comments)
    3. Purse CEO Andrew Lee confirms they are paying employees in BCH and native BCH integration update will be coming soon! (334 points, 43 comments)
    4. After today's BCH Upgrade, longer posts are now enabled on memo.cash! (245 points, 31 comments)
    5. Bitcoin cash fund is providing cashback and prizes for using Bitcoin (BCH) on purse.io next month. (76 points, 4 comments)
    6. As an existential threat to his criminal enterprise Wells Fargo, Bitcoin is rat poison for Warren Buffet. (15 points, 1 comment)
    7. Craig Wright in Rwanda- "I've got more money than your country". With advocates like these, no wonder BCH has a PR problem. (0 points, 6 comments)
  2. 1419 points, 6 submissions: tralxz
    1. Breaking News: Winklevoss Brothers Bitcoin Exchange Adds Bitcoin Cash support! (510 points, 115 comments)
    2. Jihan Wu was asked "Why are the miners still supporting Bitcoin Core? Is it just a short term profitability play?", he answered: "Yes, exactly." (273 points, 214 comments)
    3. Cobra:"That feeling when Blockstream, [...] release Liquid, a completely centralized sidechain run only by trusted nodes and designed for banks, financial institutions and exchanges." (240 points, 145 comments)
    4. Jihan Wu on Bloomberg predicting Bitcoin Cash at $100,000 USD in 5 years. (169 points, 65 comments)
    5. CNBC's Fast Money: Ran NeuNer says he would HODL Bitcoin Cash and sell Bitcoin Core. (168 points, 58 comments)
    6. Coindesk: "Florida Tax Collector to Accept Bitcoin, Bitcoin Cash Payments" (59 points, 8 comments)
  3. 1221 points, 14 submissions: Kain_niaK
    1. I am getting flashbacks from when I tried to close my Bank of America account ... (348 points, 155 comments)
    2. moneybutton.com is a configurable client-side Bitcoin Cash (BCH) wallet in an iframe. When the user makes a payment, a webhook URL is called allowing your app to respond to the payment, such as displaying content behind a pay wall. (189 points, 37 comments)
    3. Bitcoin Cash can turn in to the biggest non violent protest against the establishment ever : "We simply stop using their money." Which is a great way of getting edgy teenagers to join us. There is an almost infinite supply of edgy teenagers in the world. (153 points, 42 comments)
    4. Purse.io at the Coingeek conference in HK just announced native BCH support!!! They are also launching a new software implementation called "bcash" (111 points, 6 comments)
    5. Who is all doing stuff like this on Reddit? Do we realize that we can make the Bitcoin Cash economy easily 10 times as big just by getting Reddit users on board? All they need is a good first user experience. Bitcoin needs to be experienced above everything else before you even talk about it. (109 points, 53 comments)
    6. /cryptocurrency in meltdown (88 points, 16 comments)
    7. Ryan X Charles from Yours.org had an amazing to the point presentation about the future of content creation on the internet. (85 points, 12 comments)
    8. So now that we have had tippr and chaintip for a while, what are you guys favourite and why? Or do you use both? (43 points, 25 comments)
    9. John Moriarty about why you can't separate Bitcoin from Blockchain. (37 points, 12 comments)
    10. The next wave of attack will be all the big internet giants supporting Bitcoin Core and LN. Facebook, Microsoft, Twitter, I bet you that the more successful Bitcoin Cash becomes the more you will see big cooperation’s be forced to go with compromised Bitcoin. (25 points, 28 comments)
  4. 623 points, 5 submissions: BitcoinXio
    1. Frances Coppola on Twitter: “Congratulations, Blockstream, you have just reinvented the interbank lending market.” (414 points, 139 comments)
    2. We have a new alternative public mod logs (101 points, 35 comments)
    3. Bitcoin Cash (BCH) sponsored Mei Yamaguchi's championship fight will be live on YouTube in an hour or so (2 fights left before hers - Livestream) (53 points, 22 comments)
    4. Uncensored: /t/Bitcoin (reddit without the censorship) (49 points, 43 comments)
    5. Information post about the recent suspension and re-activation of publicmodlogs (Update) (6 points, 0 comments)
  5. 582 points, 1 submission: VanquishAudio
    1. Can’t believe this was available. My new license plate.. (582 points, 113 comments)
  6. 493 points, 8 submissions: MemoryDealers
    1. Bitcoin Cash supporting Bitmain is leading a $110M investment in Circle. This is super bullish for BCH on Circle! (122 points, 24 comments)
    2. Bitcoin Core supporter who scammed his way into consensus without a ticket is busy calling Bitcoin.com and others scammers at the event. (98 points, 140 comments)
    3. I see lots of people coming here every day asking why we think Bitcoin is BCH. Here is why I think so: (79 points, 73 comments)
    4. The Bitcoin.com CTO made a fun little transaction puzzle with one of the new op-codes: (79 points, 11 comments)
    5. Bitcoin Cash is the fighter that everyone loves. (42 points, 86 comments)
    6. This graphic aged well over the last 3 months. (34 points, 64 comments)
    7. An example of the sophisticated arguments BTC supporters use against BCH supporters. (20 points, 12 comments)
    8. Tired of staying up all night looking at CoinMarket Cap? Give Bitcoin.com's Satoshi Pulse a try in night mode! (19 points, 11 comments)
  7. 475 points, 4 submissions: rdar1999
    1. Consensus 2018 sucked hard. Superficial talks, ridiculous ticket price, overcrowded venue. (235 points, 78 comments)
    2. See in this twitter thread Luke Jr actually arguing that PayPal is cheaper than BCH!! Is this guy in full delirium? Or just spouts misinformation on purpose? (173 points, 227 comments)
    3. Upgrade completed at height 530356! (59 points, 2 comments)
    4. On decentralization and archival nodes. (8 points, 5 comments)
  8. 465 points, 17 submissions: Windowly
    1. Yeah!! "We are pleased to announce that the new Bitcoin Cash address format has been implemented on QuadrigaCX. This will help our users to easily distinguish Bitcoin and Bitcoin Cash addresses when funding/withdrawing their account. The BCH legacy addresses will still be supported." (164 points, 8 comments)
    2. "Friendly reminder: If you pay more than the bare minimum (1/sat per byte) to send a #BitcoinCash BCH transaction - you paid too much. 👍🏻"~James Howells (99 points, 12 comments)
    3. Bitpay Enables Bitcoin Cash (BCH) and Bitcoin Core (BTC) for Tax Payments - Bitcoin News (59 points, 31 comments)
    4. "I like the symbology of 1,000,000 ␢ = 1 ₿ for #BitcoinCash What the 'little b' units are called I don't care that much, it will settle in whether it remains 'bits', or 'cash', or 'credits' ... " (55 points, 54 comments)
    5. ~Public Service Announcement~ Please be extra careful using Bitcoin Cash on the Trezor! They have not yet implemented CashAddr Security. Make sure to covert your address with cashaddr.bitcoincash.org and double check with a block explorer to make sure the address is the same. (39 points, 12 comments)
    6. "WRT telling others what to do or not to do (as opposed to asking them) on the point of making proposals or petitioning others - I hope we can take the time to re-read and take to heart @Falkvinge 's excellent dispute resolution advice in . ." [email protected] (33 points, 0 comments)
    7. Why I support Bitcoin Cash (BCH). And why I support cash-denominated wallets. 1$ is inconsequential pocket change to some. To others it is their livelihood. Thank you @BitcoinUnlimit & @Bitcoin_ABC for your work in this regard. (7 points, 16 comments)
    8. If anyone feels that they are forced or imposed to do anything, or threatened by any other person or group’s initiative, he doesn’t understand Bitcoin Cash (BCH). The beauty of Bitcoin Cash is that innovation & creativity is permissionless. Let’s celebrate new ideas together! (5 points, 1 comment)
    9. "Bits as a unit right now (100sat), no matter named bits or cash or whatever, is extremely useless at this time and in the near future : Its worth 1/11 of a CENT right now. Even it suddenly 10x, its still only 1 single cent."~Reina Nakamoto (2 points, 7 comments)
    10. Love this converter! Thank you @rogerkver ! At present 778.17 ␢ = 1 USD (1,000,000 ␢ = 1 ₿) Tools.bitcoin.com (2 points, 0 comments)
  9. 443 points, 33 submissions: kairostech99
    1. Purse.io Adds Native BCH Support and Launches 'Bcash' (116 points, 40 comments)
    2. Openbazaar Enables Decentralized Peer-To-Peer Trading of 44 Cryptocurrencies (93 points, 21 comments)
    3. Thailand Waives 7% VAT for Individual Cryptocurrency Investors (84 points, 1 comment)
    4. Switzerland Formally Considers State Backed Cryptocurrency (26 points, 8 comments)
    5. Research Paper Finds Transaction Patterns Can Degrade Zcash Privacy (24 points, 2 comments)
    6. Japan's GMO Gets Ready to Start Selling 7nm Bitcoin Mining Chips (21 points, 0 comments)
    7. MMA Fighter Mei Yamaguchi Comes Out Swinging for Bitcoin.com (18 points, 5 comments)
    8. Bitmain Hits Back at “Dirty Tricks” Accusations (15 points, 4 comments)
    9. Circle Raises $110Mn With Plans to Launch USD-Backed Coin (6 points, 2 comments)
    10. Coinbase Remains the Most Successful and Important Company in the Crypto Industry (5 points, 7 comments)
  10. 420 points, 4 submissions: crypto_advocate
    1. Jihan on Roger: "I learnt a lot about being open and passionate about what you believe in from him[Roger]" (161 points, 45 comments)
    2. Bitcoin.com's first officially sponsored MMA fighter head to toe in Bitcoin Cash gear on her walkout - "She didn't win but won the hearts of a lot of new fans" (150 points, 14 comments)
    3. "Bitcoin Community is thriving again" Roger Ver at CoinGeek (98 points, 8 comments)
    4. Today is a historic day. [Twitter] (11 points, 1 comment)
  11. 376 points, 2 submissions: singularity87
    1. Bitcoin Cash Fund has partnered with Purse.io to launch their suite of BCH services and tools. (212 points, 15 comments)
    2. Proposal - Makes 'bits' (1 millionth BCH) the standard denomination and 'BIT' the ticker. (164 points, 328 comments)
  12. 349 points, 1 submission: bearjewpacabra
    1. UPGRADE COMPLETE (349 points, 378 comments)
  13. 342 points, 1 submission: Devar0
    1. Congrats! Bitcoin Cash is now capable of a 32MB block size, and new OP_CODES are reactivated! (342 points, 113 comments)
  14. 330 points, 3 submissions: btcnewsupdates
    1. Amaury Sechet in HK: "We want to be as boring as possible... If we do our job well, you won't even notice us." (173 points, 29 comments)
    2. This is the way forward: Miners Consider Using Bitcoin Cash Block Reward to Fund Development (136 points, 86 comments)
    3. Merchant adoption: unexpected success. Perhaps the community should now put more of its focus on canvassing end users. (21 points, 7 comments)
  15. 318 points, 3 submissions: HostFat
    1. From One to Two: Bitcoin Cash – Purse: Save 20%+ on Amazon [2018] (173 points, 25 comments)
    2. Open Bazzar v2.2.0 - P2P market and P2P exchange now! (92 points, 15 comments)
    3. Tree Signature Variations using Commutative Hash Trees - Andrew Stone (53 points, 5 comments)
  16. 287 points, 1 submission: Libertymark
    1. Congrats BCH developers, we appreciate your work here and continued innovation (287 points, 79 comments)
  17. 260 points, 9 submissions: unitedstatian
    1. The guy had 350 bucks received via Lightning Network but he can't even close the channels to actually withdraw the bitcoins. (135 points, 188 comments)
    2. The first megabytes are far more crucial than the 100th. Not every MB was born equal and by giving up on adoption for years Core may have given up on adoption forever. (69 points, 20 comments)
    3. Looks like fork.lol is misleading users on purpose into thinking the fees on BTC and BCH are the same (28 points, 32 comments)
    4. Just because the nChain patents aren't on the base protocol level doesn't mean it's a good idea, BCH could end up with patents which are so part of its normal use it will effectively be part of it. (13 points, 33 comments)
    5. [Not a meme] This is what the TxHighway BTC road should look like when the memepool is large. The unconfirmed tx's should be represented with cars waiting in the toll lines. (9 points, 2 comments)
    6. Lighthouse should have a small button to easily integrate it with any web page where a task is required (4 points, 1 comment)
    7. Poland Becomes World's First to put Banking Records on the Blockchain (2 points, 3 comments)
    8. If I were Core and wanted to spam BCH, and since spamming with multiple tx's will be counterproductive, I'd pay unnecessarily high fees instead (0 points, 32 comments)
    9. What happens when "the man" starts blocking nodes in China now that they function as mass media? (0 points, 1 comment)
  18. 259 points, 2 submissions: outofsync42
    1. Sportsbook.com now accepting BCH!! (215 points, 42 comments)
    2. BITCOIN CASH VS BITCOIN 2018 | Roger Ver on CNBC Fast Money (44 points, 15 comments)
  19. 255 points, 2 submissions: Bitcoinmathers
    1. Bitcoin Cash Upgrade Milestone Complete: 32MB and New Features (255 points, 90 comments)
    2. Bitgo Launches Institutional Grade Custodial Services Suite (0 points, 0 comments)
  20. 223 points, 2 submissions: ForkiusMaximus
    1. Japanese tweeter makes a good point about BTC: "You don't call it an asset if it crumbles away every time you go to use it. You call it a consumable." (141 points, 21 comments)
    2. Jimmy Nguyen: Bitcoin Cash can function for higher level technical programming (82 points, 3 comments)
  21. 218 points, 3 submissions: mccormack555
    1. Trying to see both sides of the scaling debate (193 points, 438 comments)
    2. Has Craig Wright Committed Perjury? New Information in the Kleiman Case (25 points, 56 comments)
    3. Thoughts on this person as a representative of Bitcoin Cash? (0 points, 21 comments)
  22. 216 points, 4 submissions: jimbtc
    1. $50K worth of crypto to anyone who leaks the inner communications of the #CultOfCore (183 points, 29 comments)
    2. Liquidity Propaganda: "The formation of payment hubs happens naturally even in two-party payment channels like the Lightning Network.". LOL. Fuel the LN vs Liquidity fire :D (31 points, 7 comments)
    3. WBD 017 - Interview with Samson Mow (2 points, 19 comments)
    4. If you wanted further proof that Andreas Antonopolous is a BCore Coreonic Cuck then here's a new speech from May 6th (0 points, 8 comments)
  23. 212 points, 1 submission: porlybe
    1. 32 Lanes on TXHighway (212 points, 96 comments)
  24. 211 points, 3 submissions: Akari_bit
    1. "AKARI-PAY Advanced" Released, for Bitcoin Cash! (73 points, 6 comments)
    2. 129% funded! We flew by our first BCH fundraising goal, demonstrating AKARI-PAY! HUGE SUCCESS! (70 points, 7 comments)
    3. Devs.Cash updated with new Dev projects, tools, and bounties for Bitcoin Cash! (68 points, 7 comments)
  25. 210 points, 1 submission: CollinEnstad
    1. Purse.io Introduces 'bcash', an Implementation of the BCH protocol, just like ABC, BU, or Classic (210 points, 125 comments)
  26. 206 points, 20 submissions: marcelchuo3
    1. Bitcoin Cash Community Sees OP_Code Innovation After Upgrade (70 points, 3 comments)
    2. Coingeek Conference 2018: Bitcoin Cash Innovation Shines in Hong Kong (65 points, 4 comments)
    3. Bitfinex Starts Sharing Customer Tax Data with Authorities (16 points, 3 comments)
    4. Colorado Proposal Aims to Allow Cryptocurrency Donations for Campaigns (12 points, 2 comments)
    5. Thailand Commences Cryptocurrency Regulations Today (8 points, 1 comment)
    6. Bitcoin Mining Manufacturer Canaan Files for Hong Kong Stock Exchange IPO (7 points, 0 comments)
    7. Bitcoin in Brief Thursday: OECD Explores Cryptocurrencies, Central Asian Powerhouse Calls for UN Crypto Rules (5 points, 0 comments)
    8. Moldova with New Crypto Exchange and a Token (5 points, 0 comments)
    9. Korean Regulators Widen Investigation of Cryptocurrency Exchanges (4 points, 0 comments)
    10. Arrest Warrants Issued to Employees of South Korean Crypto Exchange (3 points, 0 comments)
  27. 198 points, 1 submission: anberlinz
    1. I used to think BCH was the bad guy, now I'm beginning to change the way I see it... Convince me that BCH is the real Bitcoin (198 points, 294 comments)
  28. 196 points, 1 submission: Chris_Pacia
    1. First tree signature on Bitcoin Cash using new opcodes (196 points, 61 comments)
  29. 191 points, 3 submissions: cryptorebel
    1. Coinbase blog from 2015: "bits is the new default". The reason "bits" stopped being used was because of high fees on segwitcoin. Lets bring back "bits" on the real Bitcoin-BCH! (106 points, 66 comments)
    2. Here is the Bitcoin-BCH countdown clock to the hard fork upgrade with new 32MB block limit capacity, and re-enabled op-codes. Looks like its about 17 hours away. (78 points, 2 comments)
    3. This is Core's idea of open development, you are "super welcome" to work on anything that the gatekeepers say is ok. People tout Core as having so many devs but it doesn't matter much when you have to go through the gatekeepers. (7 points, 14 comments)
  30. 186 points, 2 submissions: coinfeller
    1. Bitcoin Cash France is offering 32 000 bits of BCH for Tipping Tuesday to celebrate the upgrade from 8MB to 32MB (178 points, 101 comments)
    2. How the Bitcoin Cash upgrade from 8MB to 32MB seems like :) (8 points, 10 comments)
  31. 185 points, 3 submissions: money78
    1. Congratulations Bitcoin Cash for the 32MB, WTG! (93 points, 5 comments)
    2. Roger Ver on CNBC's Fast Money again and he says bitcoin cash will double by the end of the year! (68 points, 30 comments)
    3. The Bitcoin Cash upgrade: over 8 million transactions per day, data monitoring, and other possibilities (24 points, 3 comments)
  32. 182 points, 26 submissions: haumeris28
    1. MMA Fighter Mei Yamaguchi Sponsored By Bitcoin Cash Proponent Roger Ver (32 points, 3 comments)
    2. Swiss Government is Studying the Risks and Benefits of State-Backed Cryptocurrency (30 points, 3 comments)
    3. Circle and Bitmain partner for US Dollar backed Token (25 points, 18 comments)
    4. Apple Co-Founder - Ethereum Has the Potential to be the Next Apple (16 points, 13 comments)
    5. Florida County To Begin Accepting Tax Payments in Crypto (14 points, 0 comments)
    6. ‘Blockchain Will Drive the Next Industrial Revolution’, According to a Major Wall Street Firm (11 points, 0 comments)
    7. Bitcoin Cash Undergoes a Hard Fork, Increases Block Size (10 points, 3 comments)
    8. Newly Appointed Goldman Sachs Vice President Leaves for Cryptocurrency (7 points, 5 comments)
    9. OKEx CEO Quits as Exchange Becomes World’s Largest Surpassing Binance (7 points, 2 comments)
    10. Texas Regulators Shut Down Crypto Scam, Falsely Using Jennifer Aniston and Prince Charles for Promotion (6 points, 0 comments)
  33. 174 points, 31 submissions: MarkoVidrih
    1. US Regulators Agree That They Will Not Will Not Suppress Cryptocurrencies (96 points, 10 comments)
    2. Why Stable Coins Are the New Central Bank Money (28 points, 9 comments)
    3. First Facebook, Then Google, Twitter and LinkedIn, Now Microsoft’s Bing Will Ban All Cryptocurrency Ads (10 points, 2 comments)
    4. Circle Raises $110 Mln and Plans to Use Circle USD Coin (USDC) instead of Tether (USDT) (9 points, 1 comment)
    5. 9 Million New Users Are About to Enter in Crypto Market (4 points, 6 comments)
    6. Japan’s Largest Commercial Bank Will Try its Own Cryptocurrency in 2019 (4 points, 0 comments)
    7. The Viability of the ERC-948 Protocol Proposal (4 points, 0 comments)
    8. A letter from Legendary VC Fred Wilson to Buffet: The Value of Bitcoin Lies in the Agreement Itself (3 points, 1 comment)
    9. This is Just The Beginning of Crypto! (3 points, 0 comments)
    10. What? U.S. SEC Just Launches ICO Called HoweyCoin (3 points, 2 comments)
  34. 170 points, 2 submissions: plaguewiind
    1. Twitter restricting accounts that mention Blockstream (104 points, 49 comments)
    2. This is actually fantastic! Jimmy Nguyen on ‘The Future of Bitcoin (Cash)’ at The University of Exeter (66 points, 31 comments)
  35. 168 points, 1 submission: MartinGandhiKennedy
    1. [COMPELLING EVIDENCE] Proof that Luke Jr does not lie (168 points, 41 comments)
  36. 167 points, 1 submission: higher-plane
    1. BCH showerthought: The first one or two killer apps for Bitcoin Cash that drive mass adoption will be the thing that decides the standards/denominations based on what people are using and catches on. Not a small forum poll or incessantly loud Twitter spam. (167 points, 24 comments)
  37. 160 points, 1 submission: SharkLaserrrrr
    1. [PREVIEW] Looks like Lighthouse powered by Bitcoin Cash is coming together nicely thanks to the hard work of an anonymous developer. I wonder how Mike Hearn feels about his project being resurrected. (160 points, 24 comments)
  38. 160 points, 1 submission: playfulexistence
    1. Lightning Network user has trouble with step 18 (160 points, 165 comments)

Top Commenters

  1. bambarasta (898 points, 154 comments)
  2. Kain_niaK (706 points, 177 comments)
  3. Ant-n (691 points, 145 comments)
  4. H0dl (610 points, 116 comments)
  5. Adrian-X (538 points, 93 comments)
  6. KoKansei (536 points, 35 comments)
  7. LovelyDay (456 points, 78 comments)
  8. 324JL (444 points, 109 comments)
  9. LexGrom (428 points, 132 comments)
  10. Erumara (427 points, 44 comments)
  11. lubokkanev (404 points, 119 comments)
  12. LuxuriousThrowAway (397 points, 66 comments)
  13. rdar1999 (387 points, 82 comments)
  14. zcc0nonA (379 points, 100 comments)
  15. MemoryDealers (369 points, 18 comments)
  16. RollieMe (366 points, 29 comments)
  17. Churn (352 points, 32 comments)
  18. jimbtc (349 points, 72 comments)
  19. btcnewsupdates (338 points, 61 comments)
  20. blockthestream (338 points, 25 comments)
  21. SharkLaserrrrr (335 points, 33 comments)
  22. kondratiex (311 points, 80 comments)
  23. trolldetectr (306 points, 58 comments)
  24. ForkiusMaximus (300 points, 47 comments)
  25. jonald_fyookball (300 points, 35 comments)
  26. mccormack555 (294 points, 78 comments)
  27. playfulexistence (292 points, 40 comments)
  28. scotty321 (287 points, 46 comments)
  29. BitcoinXio (269 points, 23 comments)
  30. TiagoTiagoT (263 points, 96 comments)
  31. Bitcoinopoly (260 points, 39 comments)
  32. homopit (249 points, 48 comments)
  33. DoomedKid (249 points, 41 comments)
  34. cryptorebel (246 points, 54 comments)
  35. Deadbeat1000 (243 points, 36 comments)
  36. mrtest001 (239 points, 78 comments)
  37. BeijingBitcoins (235 points, 16 comments)
  38. tippr (227 points, 122 comments)
  39. chainxor (226 points, 24 comments)
  40. emergent_reasons (222 points, 56 comments)
  41. morli (221 points, 1 comment)
  42. patrick99e99 (220 points, 8 comments)
  43. crasheger (214 points, 39 comments)
  44. ---Ed--- (213 points, 81 comments)
  45. radmege (212 points, 35 comments)
  46. anberlinz (212 points, 33 comments)
  47. unstoppable-cash (211 points, 46 comments)
  48. taipalag (210 points, 35 comments)
  49. rowdy_beaver (210 points, 25 comments)
  50. RareJahans (206 points, 45 comments)

Top Submissions

  1. Can’t believe this was available. My new license plate.. by VanquishAudio (582 points, 113 comments)
  2. Breaking News: Winklevoss Brothers Bitcoin Exchange Adds Bitcoin Cash support! by tralxz (510 points, 115 comments)
  3. Purse.io is paying its employees in Bitcoin Cash. by hunk_quark (441 points, 63 comments)
  4. Frances Coppola on Twitter: “Congratulations, Blockstream, you have just reinvented the interbank lending market.” by BitcoinXio (414 points, 139 comments)
  5. Forbes Author Frances Coppola takes blockstream to task. by hunk_quark (359 points, 35 comments)
  6. UPGRADE COMPLETE by bearjewpacabra (349 points, 378 comments)
  7. I am getting flashbacks from when I tried to close my Bank of America account ... by Kain_niaK (348 points, 155 comments)
  8. Congrats! Bitcoin Cash is now capable of a 32MB block size, and new OP_CODES are reactivated! by Devar0 (342 points, 113 comments)
  9. Purse CEO Andrew Lee confirms they are paying employees in BCH and native BCH integration update will be coming soon! by hunk_quark (334 points, 43 comments)
  10. Congrats BCH developers, we appreciate your work here and continued innovation by Libertymark (287 points, 79 comments)

Top Comments

  1. 221 points: morli's comment in Can’t believe this was available. My new license plate..
  2. 181 points: patrick99e99's comment in I used to think BCH was the bad guy, now I'm beginning to change the way I see it... Convince me that BCH is the real Bitcoin
  3. 173 points: RollieMe's comment in Trying to see both sides of the scaling debate
  4. 151 points: blockthestream's comment in Bitcoin Core supporter who scammed his way into consensus without a ticket is busy calling Bitcoin.com and others scammers at the event.
  5. 136 points: seleneum's comment in I am getting flashbacks from when I tried to close my Bank of America account ...
  6. 132 points: Falkvinge's comment in Talking to himself makes it so obvious that they're the same. lol
  7. 127 points: MemoryDealers's comment in Bitcoin Core supporter who scammed his way into consensus without a ticket is busy calling Bitcoin.com and others scammers at the event.
  8. 119 points: BitcoinXio's comment in Frances Coppola on Twitter: “Congratulations, Blockstream, you have just reinvented the interbank lending market.”
  9. 116 points: Erumara's comment in I used to think BCH was the bad guy, now I'm beginning to change the way I see it... Convince me that BCH is the real Bitcoin
  10. 115 points: KoKansei's comment in Purse.io Introduces 'bcash', an Implementation of the BCH protocol, just like ABC, BU, or Classic
Generated with BBoe's Subreddit Stats
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Samson Mow’s on 8BTC’s AMA: BU Are Low-Level CopyCats and We Do Support Onchain Scaling

Samson Mow, the COO of BTCC, has completed his AMA on 8btc on 2 Dec.
Samson has faced all the harsh questions raised and said BU is “awful” and he supports onchain Scaling.
We have move all the answers typed by Mr. Mow in person here.
Let’s see:
Q: How do you comment on BU?
A: For BU, I think it’s indeed an awful software. Actually it’s just a redesign based on Bitcoin Core as 99% of the codes are still those of Bitcoin Core. BU just has made some tiny changes. In developing BU, there are serval bugs in BU but they claim these bugs are just bugs from Bitcoin Core itself. Members from Core can tell the so called “bugs from Bitcoin Core itself” are simply caused by BU’s developers. BU is bad at coding and BU has not been through thorough tests. Many coders including Chinese and Westerners all thought BU’s codes are bad.
Besides, BU team actually has achieved nothing till now. If we say Bitcoin is a Ferrari with 100 Core members maintaining it, then BU team simply don’t know what a Ferrari is. BU only repairs bikes or even bikes are beyond their ability. All of these are because BU never has created or maintained any crypto currency. They even have never released any altcoin. I would rather believe in MaidSafeCoin or Dash’s teams than believe in BU.
Furthermore. BU changed the bitcoin’s rule of “ consensus-based principle”. BU is not based on consensus. Bitcoin’s rules are not made for mining but for users to decide the blocksize based on consensus. In order to gain support, BU now suddenly say bitcoin is created for mining, which is actually not even the thought of the developers of BU. Developers(of BU) also said they need to make some changes to conform to the consensus-based principle of bitcoin.
BU is just a form of political maneuvering that is being taken advantage of, just like Bitcoin XT and Bitcoin Classic. Those who support BU are actually not all for BU. The want to achieve their ulterior motives by supporting BU, say they want to scale blocksize, to alienate Core team or they just want to prove they are correct. Their reasons for supporting BU are all far-fetched or wrong.
(from ID Bitcoiners) Q :Does BTCC support onchain scaling ?
Yes, BTCC support onchain scaling.:)
We support any plan of scaling both on and off chain as long as they are safe and have been under thorough tests. SegeWit in essence is onchain scaling as it can make the block size bigger and enlarge the effective capacity of the blockchain for bitcoins.
Many people still think SW is not onchain scaling. But in fact SW is the fastest scaling onchain plan till now. Most of the people within the community oppose a hasty hard-fork; If we can reach consensus on SW, then we can achieve onchain scaling in several months, making it a reality to have bigger blocksize and capacity for more transactions.
Q:BTCC supports SW as mining pool(miners) or as an exchange.
A: we support SW as believe it can improve bitcoin and enlarge the capacity of block, making outstanding technologies like lighting possible. This will bring an all win situation for bitcoin’s traders, miners, buyers or holders. We have made the supportive decision based on our analysis of it and its future potential.
Q: under what circumstances will BTCC give up running a bitcoin app in production with activated SW soft-fork?
I don’t think I have any reason to give up SegeWit till now as it will bring many improvements to bitcoin. It fixes bitcoin’s malleability. If SW is activated, the use of lightening network becomes possible. So from technical angle, I will not give up SW.
But there are also chances for us to give up SW. Like if other mining pools give us pressure then we may make concessions. If the activation phase of SW comes to an end, then we might also give up SW. But in general, till now I do not see any reason not to support SW. SW is a technical progress instead of a political fight. It should not be affected by others’ emotion or preferences. SW is a technical changes of bitcoin’s the core codes.
If political fight in the bitcoin community results in joint pressure mounting to us, I would say this is not the situation we want to see. We need to make decisions based on the pros and cons of the SW, and on the consensus of the Core’s team members as Core’s members are all excellent programmers. These coders spent a lot of time considering the situation to explore the best scaling solution to fix problems that most of the ordinary people feel hard to understand. If others’ pressure makes us unable to run SW or we press others to run SW, the situation will be bad. I think every should make decisions based on the pros and cons of technicals.
Currently there are many rumors and misgiving within Chinese community. Many people are maligning SW. Like some people are claiming Core will change the POW into PoS; SW is poison; SW is not onchain scaling, or the lighting network will carve up miners’ benefits…all of these are rumors without any source. SW is indeed onchain scaling. Except BU, no developer or engineer would say SW is not onchain sacling.
Q: Won’t BTCC follow the 2015 Beijing Pool Declaration and 2016 Hong Kong Consensus anymore?
A: This seems to be a question of common concerns. I would like to reply in details. Wish it can be clearer for all.
For 2015 Beijng Mining Pool Declaration, there is a long story behind it. You can’t say what happed a year ago equally applies in today’s situation as both internet world and crypto area are evolving fast. The Consensus was actually response to Bitcoin XT, when Gavin Andresen and Mike Hearn firstly incited political fight within bitcoin community which has been witnessed by many mining pools.
At that time. Mike and Gavin tried to contact us quite frequently. They lobbied us and wanted us to use their Bitcoin XT. They said it can scale the blocksize into a 20MB one. They said the block was going to be full and actions must be taken. It’s until now that we are aware that it’s natural for the block to be full. If there is no full block, then there is no profits for the miners. The block space must maintain its scarcity to be valuable. But at that time we were not familiar with technical stuff and didn’t know how capable the Mike and Gavin were. We just knew 20MB was really bigger than 1MB and many other mining pools also felt the need to act so we were also a bit worried. But after some consideration, we believe to have 8MB block size was rather safe. To scale to 8 MB is referred to the Bitcoin XT’s plan of scaling to 20MB. We even didn’t intend to scale to 8MB blocksize. After the Beijing conference, Bitcoin XT distorted our intention by saying that our roadmap is to scale from 8MB to 8GB size. Many mining pools felt they were betrayed.
I don’t think that anyone should be required to conform to the 2015 Beijing Mining Pool Consensus. If it’s a must for everyone to conform to it, then BU should not have gained any support since we just need to scale to 8MB.
For 2016 Hong Kong consensus, it was actually the response to Bitcoin Classic. Bitcoin Classics misled us by saying that all people were supportive of them. Actually everyone at that time believed other people all support Bitcoin Classics so it turned out all people were for Bitcoin Classics. In was in the context that we held that Hong Kong Conference. The consensus stated that Core would write hard-fork codes. So many people thought it was an agreement between BTCC and Core. But actually the consensus was a response for Bitcoin Classic. There were 5 Core members at the site and they signed the consensus. But Bitcoin Core is neither a company nor an organization. It’s only some individuals and companies who support the development of Bitcoin Core. No one can compel Bitcoin Core to do anything and Core will not compel others to do anything. either. This is just the feature of bitcoin. Bitcoin is alive. It’s not a company which can post something on its official site. Likely, Bitcoin Core’s software will not update automatically. (Apple and Microsoft will send you a new version and you have to update). The update of Bitcoin Core is out of your free choices and you can also downgrade the system.
In fact, there are others things in Hong Kong consensus that have not been followed like Core hasn’t completed the development of SW in time. But this just proved their prudence. They will not accept a SW without thorough and sound tests. We have made some mistakes during the Hong Kong Consensus period. We were not familiar with the development of bitcoins. We have kept on learning and improving these years.
Actually Core team indeed has written the hard-fork codes which are published in BIP draft. To seem please find: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-February/012377.html https://petertodd.org/2016/hardforks-after-the-segwit-blocksize-increase https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-February/012342.html https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2016-Decembe013332.html
In the conference in San Francisco this summer, Core has displayed these codes but the community didn’t give many responses. Core members are trying their best to write code and the process is continuing. They can’t compel the Core to publish the hard-fork publicly as it requires the consensus within the whole Core members. There is no leader in Core.
Core also release 0.13, a version without SW for those who wants the most updated technique but are not willing to use SW. This version contains the most updated techniques like Schnorr signing.
Q: Does BTCC have any contingency plan for any bug which has been discussed on reddit?
Reddit is only a platform for people to share news or discuss anything. The so-called bug discussed on /btc are only the random guess by those who do not know technical stuff.
If you really want to discuss bug issues of SW, please subscribe Bitcoin Core’s email and go to their IRC chatting room. That’s where bug issue should be discussed effectively. Core has all of the communication records of Slack, IRC and subscription list published on the internet, though people won’t go there and see. People like to go to reddit. Reddit is not for technical discussion. It’s for…catfight. These so-called bugs have already been discussed between core members. It is because of these discussions of bugs’ elimination and tests that SW has come out later than expected, Core wants to provide reliable and bug-free codes to support its 11 billion USD worth industry of bitcoin.
Now we look at BU, it hasn’t had many test reports. Actually Core has reported bugs of BU and BU didn’t give any response.
Activity of BU on GitHub Imgur
Activity of Core Imgur
Core has done many tests and they even found bugs of library used by C++. https://github.com/bitcoin/bitcoin/commit/507145d78595e052ce13368e122f72c85093992c https://github.com/bitcoin/bitcoin/pull/9229
Q: Dose BTTC support that 1M blocksize should remain so permanently or believe it should be scaled at a proper time in the future?
Imgur
It is a misunderstanding commonly seen in Chinese community that Core wants the block size to remain 1MB forever.
Core’s road map is just hard fork. But optimization should proceed the hard-fork. Core never said they will hold IMB block size permanently. We don’t want a block with only 1MB size, either. But If bitcoin doesn’t possess the feature of decentralization, then bitcoin is useless. It would be something like a database. Thus the smaller the blocksize is, the better bitcoin is as everyone can run it. You can’t just take care of yourself. A hard disk may be extremely expensive for the poor people. Since those who boast bigger size do not represent all the community, what we could do is to lower the threshold as possibly as we can.
Many people may never involve themselves in Ethereum community. We wanted to run our ETC mining pool but we have encountered many problems only because the block size is too big. You can’t only envision inserting the blocksize in a disk without considering communication, synchronization and orphanage rate. Scaling is not that easy. What many people do not understand is that scaling shouldn’t be done without due consideration. If we put all the date from google and YouTube in everyone’s computer like ledgers of blockchain, then to double the data of Google and YouTube means to double the data of everyone. This will lead to an increasing pressure of the whole network. You have to pay the price for scaling. Those who think the costs are nothing for them simply can not represent everyone.
SW indeed will scale the blocksize and Core team have some techniques for omptimization like the Schnorr signing. Schnorr can compress the transactions of 16MB into a 1MB block under perfect condition. Now the theoretical size is to compress 4MB data into a 1MB blocksize. There are many other methods to make 1MB size block size handle more data. But if needed, we can scale the blocksize into 2MB.
Added: Core team is highly transparent. All their meetings are available on the internet. See https://bitcoincore.org/en/meetings/
Q: Has BTCC Pool’s support of SW gained understanding and support from miners in your pool? In another way, has BTCC pool explained pros and cons of various options? Any relevant explanatory information can be shared to other pools for reference?
A: we have a professional management team for mining pools and we have maintained active communication with them. Last week I just went to Chengdu of Sichuan Province to meet miners there. We have explained the benefits of SW to the miners of Chengdu and they expressed their supportive attitude. BTCC indeed will explain to our miners the pros and cons of different scaling plans. In the meantime, we also provide reference documents on our Weibo and Wechat to miners, traders and bitcoins fans. We invited one Lightening founder to Shanghai for a meeting with friends in Shanghai. Next week (11th NOV), We will also invite some Core members to be in Shanghai to discuss SW with friends present. We have provided the information of Bitcoin, SW and scaling plans to not only miners and but all users of BTCC.
Q: Has BTCC pool done extensive test on 0.13.1 SegWit code? Can you release test report?
A: Sure. Thorough tests need to be done. In early April 2016, Core has contacted China’s miners including BTCC, F2Pool, AntPool BW to test SW on SegNet; In later April our pool has mined the blocks containing SW transactions; In May, mining pools including BW all completed the tests of SegNet and they have mined SW block; in October, BTCC began to test Bitcoin Core 0.13.1 and the improvements of 0.13.1 has begun since; 18th Oct, the vote of SW officially kicks off. Sorry I don’t have test files for you. But till now, judging from the mining pool’s operation, everything is fine.
The AMA is conducted in Chinese.
Knowing that this AMA really matters for the both Chinese and Western community to know the ideas and thoughts of others, we have tried our best to keep the original meaning and tones in plain English.
To see the original Chinese AMA text,
Please first sign in on news.8btc.com , the international site of 8tbc, and then go directly to the thread:
http://8btc.com/thread-42814-1-1.html
Tune In http://news.8btc.com/ for more fist hand information on CN community.
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BnkToTheFuture.com - YouTube Andrew Chow - Hardware Wallets in Bitcoin Core Max Keidun: There Will Be a Privacy War EB82 – Mike Hearn - Blocksize Debate At The Breaking Point Mike Hearn - Abuse at Scale (RIPE 64)

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