Andreas Antonopoulos Bitcoin News

Bitcoin Newcomers FAQ - Please read!

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
It all started with the release of the release of Satoshi Nakamoto's whitepaper however that will probably go over the head of most readers so we recommend the following videos for a good starting point for understanding how bitcoin works and a little about its long term potential:
Some other great resources include Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series.
Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute.
Some Bitcoin statistics can be found here and here. Developer resources can be found here. Peer-reviewed research papers can be found here.
Potential upcoming protocol improvements and scaling resources here and here.
The number of times Bitcoin was declared dead by the media can be found here (LOL!)

Key properties of Bitcoin

Where can I buy bitcoins?

Bitcoin.org and BuyBitcoinWorldwide.com are helpful sites for beginners. You can buy or sell any amount of bitcoin (even just a few dollars worth) and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also check out the bitcoinity exchange resources for a larger list of options for purchases.
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy OTP Auth
Android Android N/A
iOS iOS iOS

Watch out for scams

As mentioned above, Bitcoin is decentralized, which by definition means there is no official website or Twitter handle or spokesperson or CEO. However, all money attracts thieves. This combination unfortunately results in scammers running official sounding names or pretending to be an authority on YouTube or social media. Many scammers throughout the years have claimed to be the inventor of Bitcoin. Websites like bitcoin(dot)com and the btc subreddit are active scams. Almost all altcoins (shitcoins) are marketed heavily with big promises but are really just designed to separate you from your bitcoin. So be careful: any resource, including all linked in this document, may in the future turn evil. Don't trust, verify. Also as they say in our community "Not your keys, not your coins".

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for millions of merchant options. Also you can spend bitcoin anywhere visa is accepted with bitcoin debit cards such as the CashApp card. Some other useful site are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Spendabit, Overstock and The Bitcoin Directory Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Coinsfer, and more Bill payment
Menufy, Takeaway and Thuisbezorgd NL Takeout delivered to your door
Expedia, Cheapair, Destinia, Abitsky, SkyTours, the Travel category on Gyft and 9flats For when you need to get away
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun Domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. If you would prefer to keep it simple there are several good options. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, Cryptogrind, Coinality, Bitgigs, /Jobs4Bitcoins, BitforTip, Rein Project Freelancing
Lolli Earn bitcoin when you shop online!
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
/GirlsGoneBitcoin NSFW Adult services
A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins.

Bitcoin-Related Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network Second layer scaling
Blockstream, Rootstock and Drivechain Sidechains
Hivemind and Augur Prediction markets
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
JoinMarket and Wasabi Wallet CoinJoin implementation
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase Identity & Reputation management
Abra Global P2P money transmitter network
Bitcore Open source Bitcoin javascript library

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
bitcoin BTC 1 bitcoin one bitcoin is equal to 100 million satoshis
millibitcoin mBTC 1,000 per bitcoin used as default unit in recent Electrum wallet releases
bit bit 1,000,000 per bitcoin colloquial "slang" term for microbitcoin (μBTC)
satoshi sat 100,000,000 per bitcoin smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit.
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BitcoinFan7 to Bitcoin [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
The following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
For some more great introductory videos check out Andreas Antonopoulos's YouTube playlists, he is probably the best bitcoin educator out there today. Also have to give mention to James D'Angelo's Bitcoin 101 Blackboard series. Lots of additional video resources can be found at the videos wiki page or /BitcoinTV.
Key properties of bitcoin
Some excellent writing on Bitcoin's value proposition and future can be found here. Bitcoin statistics can be found here, here and here. Developer resources can be found here and here. Peer-reviewed research papers can be found here. The number of times Bitcoin was declared dead by the media can be found here. Scaling resources here, and of course the whitepaper that started it all.

Where can I buy bitcoins?

BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Coinbase Coinbase LocalBitcoins
Gemini Bitstamp LibertyX
GDAX Bitit Mycelium LocalTrader
Bitstamp Cex.io BitQuick
Kraken CoinMama WallofCoins
Xapo BitcoinOTC
Cex.io
itBit
Bitit
Bitsquare
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Cashila or Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Mycelium BreadWallet Electrum
CoPay AirBitz Armory
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

A more comprehensive list can be found at the Trade FAQ but some more commons ones are below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, The Bitcoin Shop, Overstock, DuoSearch, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Cashila, Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, Pey.de, LivingRoomofSatoshi, Hyphen.to, Coinsfer, GetPaidinBitcoin, Coins.co.th, More #1, #2 Bill payment
Foodler, Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BoltVM, BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik and GetUSPS Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap, 99Bitcoins and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Watchmybit, Streamium.io, OTika.tv, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip, WillPayCoin Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mirror Smart contracts
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bitsquare Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Bitmesh and Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium and Faradam Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
Coinometrics Institutional-level Bitcoin Data & Research
Blocktrail and BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

LTB podcasts episodes 419 and 420 (DASH not mentioned by name)

Innovations that come out of the DASH project continue to be overlooked. Subpar qualities of other projects are touted, and problems which DASH has "solved" remain unknown or unspoken.
Let's Talk Bitcoin! #419 Altcoins and Ancient History with Charlie Lee
Charlie Lee talks about why Litecoin is useful. He says compared to BTC, fees are lower and transaction times faster because block times are shorter. He specifically says LTC is used when people want to transfer between exchanges (A use-case that DCG identified in a past quarterly call). Why is DASH not competitive, even though DASH's transactions settle faster (instant) and fees are even lower than LTC?
Let's Talk Bitcoin! #420 How Can Public Blockchains Have Real Privacy?
They talk about privacy, and one of the difficulties for Mimblewimble (and every network) is Sybil attacks - nodes can be spun up at near zero cost, and can gathesurveil MW transactions. They said one way to deal with that is having something at stake, and the example given is having BTC "bonded" in a Lightning Network channel.
But DASH's MN network is specifically designed to resist Sybil attacks (one of the first, if not the first, to do so). I have read codablock talk about DASH's innovation for avoiding Sybil attacks, but rarely elsewhere.
Mimblewimble on DASH was talked about on forums as early as 2016. GrandMasterDash on Dash Forums and DashNexus, explains why MimbleWimble is ideal for DASH:
... MimbleWimble is the best fit for dash. Transactions are carried out via a handshake i.e. the receiving party must sign and reply. It's kind of like receiving an invoice and then you pay. This setup is similar to dash's Blockchain Users i.e. both parties subscribe to each other. Dash's masternode network would be perfect for managing said handshake. The sender, for example, could ask the masternodes to pay someone within 24 hours, or void the transaction if it's not claimed.
A few months ago, Chainlink generated a lot of buzz for having "oracles" linking real-world data to a blockchain. Years ago, Evan cited one of the purposes for Masternodes is to serve as just such "oracles"... Also haven't heard or seen anything about this from Dash News or community.
tldr; It's strange to me that none of these seem to be talked about or known, neither in DASH's community or the wider crypto community. Is the community too small? Does the core team lack knowledge or ability to communicate? Am I just out of touch? What am I missing?
Edit: Is there someone in the Dash community that's well-spoken and technically savvy enough (like Andreas Antonopoulos) that can "promote" DASH? LTB podcast has requested story ideas or interviewees for future podcasts - I wonder if there is anyone that would be suitable to "represent" DASH and talk about its innovations.
All respect to Amanda, Joel, Mark and others but I don't think they are technically savvy enough to speak to DASH's technical innovations (I could be wrong, gladly). How about Darrentapp, Codablock, andyfreer and other devs, or perhaps Bob Carroll - would they be willing to be interviewed? Not sure if "verbal communications" is their strong point. Is there anyone else in the community that would be willing to speak up?
submitted by traderpat to dashpay [link] [comments]

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /Bitcoin Sticky FAQ

You've probably been hearing a lot about Bitcoin recently and are wondering what's the big deal? Most of your questions should be answered by the resources below but if you have additional questions feel free to ask them in the comments.
Some great introductions for new users are My first bitcoin, Bitcoin explained and ELI5 Bitcoin. Also, the following videos are a good starting point for understanding how bitcoin works and a little about its long term potential:
Also have to give mention to Lopp.net, the Princeton crypto series and James D'Angelo's Bitcoin 101 Blackboard series. Some excellent writing on Bitcoin's value proposition and future can be found at the Satoshi Nakamoto Institute. Bitcoin statistics can be found here, here and here. Developer resources can be found here, here and here. Peer-reviewed research papers can be found here. Potential upcoming protocol improvements here. Scaling resources here. The number of times Bitcoin was declared dead by the media can be found here (LOL!), and of course Satoshi Nakamoto's whitepaper that started it all! :)
Key properties of bitcoin

Where can I buy bitcoins?

Bitcoin.org, BuyBitcoinWorldwide.com and Howtobuybitcoin.io are helpful sites for beginners. You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank transfer. Some of the more popular resources are below, also, check out the bitcoinity exchange resources for a larger list of options for purchases.
Bank Transfer Credit / Debit card Cash
Gemini Bitstamp LocalBitcoins
Bitstamp Bitit Mycelium LocalTrader
BitFinex Cex.io LibertyX
Cex.io CoinMama WallofCoins
Xapo Spectrocoin BitcoinOTC
Kraken Luno BitQuick
itBit
HitBTC
Bitit
Bisq (decentralized)
Luno
Spectrocoin
Here is a listing of local ATMs. If you would like your paycheck automatically converted to bitcoin use Bitwage.
Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Preev is a useful site that that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".

Securing your bitcoins

With bitcoin you can "Be your own bank" and personally secure your bitcoins OR you can use third party companies aka "Bitcoin banks" which will hold the bitcoins for you.
Android iOs Desktop
Samouari BreadWallet Electrum
Another interesting use case for physical storage/transfer is the Opendime. Opendime is a small USB stick that allows you to spend Bitcoin by physically passing it along so it's anonymous and tangible like cash.
Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!
2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below. Make sure you create backups of your 2FA codes.
Google Auth Authy
Android Android
iOS iOS

Where can I spend bitcoins?

Check out spendabit or bitcoin directory for some good options, some of the more commons ones are listed below.
Store Product
Gyft Gift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.
Steam, HumbleBundle, Games Planet, itch.io, g2g and kinguin For when you need to get your game on
Microsoft Xbox games, phone apps and software
Spendabit, Overstock, The Bitcoin Directory and BazaarBay Retail shopping with millions of results
ShakePay Generate one time use Visa cards in seconds
NewEgg and Dell For all your electronics needs
Bitwa.la, Coinbills, Piixpay, Bitbill.eu, Bylls, Coins.ph, Bitrefill, LivingRoomofSatoshi, Hyphen.to, Coinsfer, More #1, #2 Bill payment
Menufy, Takeaway, Thuisbezorgd NL, Pizza For Coins Takeout delivered to your door!
Expedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky, SkyTours, Fluege the Travel category on Gyft and 9flats For when you need to get away
BitHost VPS service
Cryptostorm, Mullvad, and PIA VPN services
Namecheap, Porkbun For new domain name registration
Stampnik Discounted USPS Priority, Express, First-Class mail postage
Reddit Gold Premium membership which can be gifted to others
Coinmap and AirBitz are helpful to find local businesses accepting bitcoins. A good resource for UK residents is at wheretospendbitcoins.co.uk.
There are also lots of charities which accept bitcoin donations, such as Wikipedia, United Way, ACLU and the EFF. You can find a longer list here.

Merchant Resources

There are several benefits to accepting bitcoin as a payment option if you are a merchant;
If you are interested in accepting bitcoin as a payment method, there are several options available;

Can I mine bitcoin?

Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /BitcoinMining would be happy to help you out.
If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. Bitseed is an easy option for getting set up. You can view the global node distribution here.

Earning bitcoins

Just like any other form of money, you can also earn bitcoins by being paid to do a job.
Site Description
WorkingForBitcoins, Bitwage, XBTfreelancer, Cryptogrind, Bitlancerr, Coinality, Bitgigs, /Jobs4Bitcoins, Rein Project Freelancing
OpenBazaar, Purse.io, Bitify, /Bitmarket, 21 Market Marketplaces
Streamium.io, XOtika.tv NSFW, /GirlsGoneBitcoin NSFW Video Streaming
Bitasker, BitforTip Tasks
Supload.com, SatoshiBox, JoyStream, File Army File/Image Sharing
CoinAd, A-ads, Coinzilla.io Advertising
You can also earn bitcoins by participating as a market maker on JoinMarket by allowing users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)

Bitcoin Projects

The following is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.
Project Description
Lightning Network, Amiko Pay, and Strawpay Payment channels for network scaling
Blockstream, Rootstock and Drivechain Sidechains
21, Inc. Open source library for the machine payable web
ShapeShift.io Trade between bitcoins and altcoins easily
Open Transactions, Counterparty, Omni, Open Assets, Symbiont and Chain Financial asset platforms
Hivemind and Augur Prediction markets
Mediachain Decentralized media library
Tierion and Factom Records & Titles on the blockchain
BitMarkets, DropZone, Beaver and Open Bazaar Decentralized markets
Samourai and Dark Wallet - abandoned Privacy-enhancing wallets
JoinMarket CoinJoin implementation (Increase privacy and/or Earn interest on bitcoin holdings)
Coinffeine and Bisq Decentralized bitcoin exchanges
Keybase and Bitrated Identity & Reputation management
Telehash Mesh networking
JoyStream BitTorrent client with paid seeding
MORPHiS Decentralized, encrypted internet
Storj and Sia Decentralized file storage
Streamium Pay in real time for on-demand services
Abra Global P2P money transmitter network
bitSIM PIN secure hardware token between SIM & Phone
Identifi Decentralized address book w/ ratings system
BitGo Multisig bitcoin API
Bitcore Open source Bitcoin javascript library
Insight Open source blockchain API
Leet Kill your friends and take their money ;)

Bitcoin Units

One Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:
Unit Symbol Value Info
millibitcoin mBTC 1,000 per bitcoin SI unit for milli i.e. millilitre (mL) or millimetre (mm)
microbitcoin μBTC 1,000,000 per bitcoin SI unit for micro i.e microlitre (μL) or micrometre (μm)
bit bit 1,000,000 per bitcoin Colloquial "slang" term for microbitcoin
satoshi sat 100,000,000 per bitcoin Smallest unit in bitcoin, named after the inventor
For example, assuming an arbitrary exchange rate of $10000 for one Bitcoin, a $10 meal would equal:
For more information check out the Bitcoin units wiki.
Still have questions? Feel free to ask in the comments below or stick around for our weekly Mentor Monday thread. If you decide to post a question in /Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found here
Note: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.
Welcome to the Bitcoin community and the new decentralized economy!
submitted by BinaryResult to Bitcoin [link] [comments]

Dissertation

Andrés Guadamuz "Copyright and the Blockchain' (2018) Sept/Oct I.N.L 1
Michele Finck, Blockchain, Regulation and Governance in Europe (Cambridge University Press 2018)
Thomas Buocz, “Bitcoin and the GDPR: allocating responsibility in distributed networks” https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3297531
Rob Sumroy, Duncan Mykura and Ian Ranson, “Blockchain and the GDPR: Reconcilable Differences?https://www.slaughterandmay.com/what-we-do/publications-and-seminars/publications/client-publications-and-articles/b/blockchain-and-the-gdpr-reconcilable-differences/
Tom Cox and Andrew Solomon, “Blockchain: is the GDPR already outdated?”: https://www.kingsleynapley.co.uk/insights/blogs/data-protection-blog/block-chain-is-the-gdpr-out-of-date-already (news article)
Matthias Berberich and Malgorzata Steiner, “Blockchain technology and the GDPR - how to reconcile privacy and distributed ledgers?” – available on heinonline but signing in is temperamental so follow the link in this page to access https://libguides.napier.ac.uk/nubs/law
https://jolt.richmond.edu/blockchain-demystified-a-technical-and-legal-introduction-to-distributed-and-centralised-ledgers/ - cited in Anne Rose’s article. Lengthy but will likely provide good analysis of legal challenges.
https://edpl.lexxion.eu/data/article/12327/pdf/edpl_2018_01-007.pdf - “blockchain and GDRP”. Is cited in Anne Rose’s article in reference to controllers of blockchain systems but will most likely include other topics of discussion in this area. Lengthy but READ

Rob Sumroy, Duncan Mykura and Ian Ranson, Blockchain and the GDPR: Reconcilable Differences?https://www.slaughterandmay.com/what-we-do/publications-and-seminars/publications/client-publications-and-articles/b/blockchain-and-the-gdpr-reconcilable-differences/
Note that this link is a summed up version of the following full publication:
https://view.pagetiger.com/March-of-the-blocks/1
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Points of Interest for the Introduction
Points will include info that provides social/legal background to the issue. These points may concern either the journey that blockchain/ Bitcoin has been on so far i.e. driving factors, 2008 crash etc, or it may concern the GDPR and what caused the legislation to be implemented. Just take notes as I see relevant from the articles.
Satoshi’s white paper referenced. This will also, most likely, be referenced in my introduction so this is the proper citation – S Nakamoto, ‘Bitcoin: A Peer-to Peer Electronic Cash System’ [2008] https://bitcoin.org/bitcoin.pdf
Could find a quote from Andreas M. Antonopoulos in one of his books with regard to blockchain.
According to International Data Corporation’s Worldwide Semi-annual Blockchain Spending Guide, worldwide spending on blockchain solutions is predicted to reach $11.7 billion in 2022. Citation – IDC, ‘Worldwide Semi-annual Blockchain Spending Guide’ [2018] https://www.idc.com/trackeshowproductinfo.jsp?prod_id=1842
GDPR Citation – Regulation (EU) 2016/679 of the European Parliament and the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (Data Protection Directive)
European Parliament has dictated the importance of GDPR compliance in blockchain system - European Parliament Distributed ledger technologies and blockchains: building trust with disintermediation (3 October 2018) http://www.europarl.europa.eu/doceo/document/TA-8-2018-0373_EN.pdf?redirect
Possibly look for a use case of each type of system (public/ centralised) to include in the intro.
Note that ‘blockchain’ can have many intended definitions. In Anne Rose’s article she defines it at a ‘fundamental’ level as a “distributed ledger based on cryptographic technology”.
European Parliament, Distributed ledger technologies and blockchains: building trust with disintermediation (3 October 2018) http://www.europarl.europa.eu/doceo/document/TA-8-2018-0373_EN.pdf?redirect – the parliament recommended that before general adoption of blockchain across the EU, trust must first be gained by the masses. This will entail education and proactive awareness of the field through training programmes etc. Note this is similar wording to Rose’s article so may need to change if used.
As another note on the definition of blockchain, Finck in her article “Blockchain and the general data protection regulation: Can distributed ledgers be squared with European data protection law”, defines it as Distributed Ledger Technology (DLT). She footnotes this by saying that there are a number of terms that exist, each with an emphasis on a particular aspect of the technology. She states “ given the lack of definitional consensus, the terms are use synonymously. – will need to include something along the same line as this.
NOTE – that in the same article by Finck, the intro includes discussion on BOTH the GDPR and blockchain so will be relevant when making points in the introduction about the background.
Again, in the same article above, Finck elaborates on the GDPRs effect on DLT. The right to data protection is a fundamental right as set out by Article 8(1) of the Charter of Fundamental Rights. Article 8(2) then goes on, personal data 'must be processed fairly for specified purposes and on the basis of the consent of the person concerned or some other legitimate basis laid down by law’. The Charter furthermore provides that everyone has a right to access personal data relating to them, including a right to have such data rectified (Art 8(2)). Article 16 TFEU moreover states that the Parliament and the Council shall lay down rules relating to the protection of individuals with regard to the processing of personal data by Union institutions, bodies, offices and agencies, and by the Member States when carrying out activities that fall within the scope of Union law (Art 16(2) TFEU). Most of this not my own words.
Further, suggests that the GDPR (replacing 1995 Data Protection Directive) has a dual objective; 1) seeks to promote fundamental rights through a high level of rights protection of natural persons and, 2) it pursues an economic aim in seeking to remove the obstacles to personal data flows between the various Member States (Art 1(1) GDPR and Recital 10 GDPR). The GDPR also emphasizes that whereas data protection enjoys the status of a fundamental right it is not an absolute right but must rather be considered in relation to its function in society and be balanced against other fundamental rights in respect of the proportionality principle (Recital 4 GDPR). Again, not my own words.
The structure of a network of nodes can either be centralised (one single central node), decentralised (a relatively small number of central nodes), or distributed (no central nodes). See Cf. Paul Baran, ‘On distributed communications: I. Introduction to distributed communications networks’ (1964) 1 www.rand.org/content/dam/rand/pubs/research_memoranda/2006/RM3420.pdf this link also provides a useful Figure to illustrate how these different networks look.
Before 25 May 2018, the central legal source for data protection at the European Union (EU) level was Directive 95/46/EC (‘Data Protection Directive – DPD’). Divergent ways of implementing the Directive in the EU Member States resulted in different legal standards and therefore different levels of protection (Recital 9 GDPR). The GDPR, which has now replaced the DPD, aims to create ‘a … more coherent data protection framework in the Union, backed by strong enforcement, given the importance of creating the trust that will allow the digital economy to develop across the internal market’ (Recital 7 GDPR) – found at https://poseidon01.ssrn.com/delivery.php?ID=963020092123086109000085120064025073033078047010022006094075126002103117011026115007006058039044111113028125000095120067006102123082069048092107121073092104088006125073013044098103127102072001127114102112085124104001090026091089121102031024083121109117&EXT=pdf
submitted by Chilkin to u/Chilkin [link] [comments]

Full English Transcript of Gavin's AMA on 8BTC, April 21st. (Part 1)

Part 2
Part 3
Raw transcript on Google Docs (English+Chinese): https://docs.google.com/document/d/1p3DWMfeGHBL6pk4Hu0efgQWGsUAdFNK6zLHubn5chJo/edit?usp=sharing
Translators/Organizers: emusher, kcbitcoin, nextblast, pangcong, Red Li, WangXiaoMeng. (Ranked in alphabetical order)
1.crypto888
Q: What is your relationship with Blockstream now? Are you in a Cold War? Your evaluation on BS was pretty high “If this amazing team offers you a job, you should take it,” tweeted Gavin Andresen, Chief Scientist, Bitcoin Foundation.” But now, what’s your opinion on BS?
A: I think everybody at Blockstream wants Bitcoin to succeed, and I respect and appreciate great work being done for Bitcoin by people at Blockstream.
We strongly disagree on priorities and timing; I think the risks of increasing the block size limit right away are very small. I see evidence of people and businesses getting frustrated by the limit and choosing to use something else (like Ethereum or a private blockchain); it is impossible to know for certain how dangerous that is for Bitcoin, but I believe it is more danger than the very small risk of simply increasing or eliminating the block size limit.
2. Ma_Ya
Q: 1) Why insist on hard fork at only 75%? You once explained that it is possible to be controlled by 5% if we set the threshold at 95%. I agree, but there should be some balance here. 75% means a high risk in splitting, isn’t it too aggressive? Is it better if we set it to 90%?
A: 1)The experience of the last two consensus changes is that miners very quickly switch once consensus reaches 75% -- the last soft fork went from 75% support to well over 95% support in less than one week. So I’m very confident that miners will all upgrade once the 75% threshold is reached, and BIP109 gives them 28 days to do so. No miner wants to create blocks that will not be accepted by the network.
Q: 2) How to solve the potentially very large blocks problem Classic roadmap may cause, and furthur causing the centralization of nodes in the future?
A: 2)Andreas Antonopoulos gave a great talk recently about how people repeatedly predicted that the Internet would fail to scale. Smart engineers proved them wrong again and again, and are still busy proving them wrong today (which is why I enjoy streaming video over my internet connection just about every night).
I began my career working on 3D graphics software, and saw how quickly we went from being able to draw very simple scenes to today’s technology that is able to render hundreds of millions of triangles per second.
Processing financial transactions is much easier than simulating reality. Bitcoin can easily scale to handle thousands of transactions per second, even on existing computers and internet connections, and even without the software optimizations that are already planned.
Q: 3) Why do you not support the proposal of RBF by Satoshi, and even plan to remove it in Classic completely?
A: 3) Replace-by-fee should be supported by most of the wallets people are using before it is supported by the network. Implementing replace-by-fee is very hard for a wallet, especially multi-signature and hardware wallets that might not be connected to the network all of the time.
When lots of wallet developers start saying that replace-by-fee is a great idea, then supporting it at the network level makes sense. Not before.
Q: 4) . Your opinion on soft fork SegWit, sidechain, lighnting network. Are you for or against, please give brief reasons. Thanks.
A: 4) The best way to be successful is to let people try lots of different things. Many of them won’t be successful, but that is not a problem as long as some of them are successful.
I think segregated witness is a great idea. It would be a little bit simpler as a hard fork instead of a soft fork (it would be better to put the merkle root for the witness data into the merkle root in the block header instead of putting it inside a transaction), but overall the design is good.
I think sidechains are a good idea, but the main problem is finding a good way to keep them secure. I think the best uses of sidechains will be to publish “write-only” public information involving bitcoin. For example, I would like to see a Bitcoin exchange experiment with putting all bids and asks and trades on a sidechain that they secure themselves, so their customers can verify that their orders are being carried out faithfully and nobody at the exchanges is “front-running” them.
Q: 5) Can you share your latest opinion on Brainwallet? It is hard for new users to use long and complex secure passphrase, but is it a good tool if it solves this problem?
A: 5) We are very, very bad at creating long and complex passphrases that are random enough to be secure. And we are very good at forgetting things.
We are much better at keeping physical items secure, so I am much more excited about hardware wallets and paper wallets than I am about brain wallets. I don’t trust myself to keep any bitcoin in a brain wallet, and do not recommend them for anybody else, either.
3. BiTeCui
Q: Gavin, do you have bitcoins now? What is your major job in MIT? Has FBI ever investigated on you? When do you think SHA256 might be outdated, it seems like it has been a bit unsafe?
A: Yes, a majority of my own person wealth is still in bitcoins -- more than a financial advisor would say is wise.
My job at MIT is to make Bitcoin better, in whatever way I think best. That is the same major job I had at the Bitcoin Foundation. Sometimes I think the best way to make Bitcoin better is to write some code, sometimes to write a blog post about what I see happening in the Bitcoin world, and sometimes to travel and speak to people.
The FBI (or any other law enforcement agency) has never investigated me, as far as I know. The closest thing to an investigation was an afternoon I spent at the Securities and Exchange Commission in Washington, DC. They were interested in how I and the other Bitcoin developers created the software and how much control we have over whether or not people choose to run the software that we create.
“Safe or unsafe” is not the way to think about cryptographic algorithms like SHA256. They do not suddenly go from being 100% secure for everything to completely insecure for everything. I think SHA256 will be safe enough to use in the all ways that Bitcoin is using it for at least ten years, and will be good enough to be used as the proof-of-work algorithm forever.
It is much more likely that ECDSA, the signature algorithm Bitcoin is using today, will start to become less safe in the next ten or twenty years, but developer are already working on replacements (like Schnorr signatures).
4. SanPangHenBang
Q: It’s a pleasure to meet you. I only have one question. Which company are you serving? or where do you get your salary?
A: The Media Lab at MIT (Massachusetts Institute of Technology) pays my salary; I don’t receive regular payments from anybody else.
I have received small amounts of stock options in exchange for being a techical advisor to several Bitcoin companies (Coinbase, BitPay, Bloq, Xapo, Digital Currency Group, CoinLab, TruCoin, Chain) which might be worth money some day if one or more of those companies do very well. I make it very clear to these companies that my priority is to make Bitcoin better, and my goal in being an advisor to them is to learn more about the problems they face as they try to bring Bitcoin to more of their customers.
And I am sometimes (once or twice a year) paid to speak at events.
5.SaTuoXi
Q: Would you mind share your opinion on lightning network? Is it complicated to implement? Does it need hard fork?
A: Lightning does not need a hard fork.
It is not too hard to implement at the Bitcoin protocol level, but it is much more complicated to create a wallet capable of handling Lightning network payments properly.
I think Lightning is very exciting for new kinds of payments (like machine-to-machine payments that might happen hundreds of times per minute), but I am skeptical that it will be used for the kinds of payments that are common on the Bitcoin network today, because they will be more complicated both for wallet software and for people to understand.
6. pangcong
Q: 1) There has been a lot of conferences related to blocksize limit. The two took place in HongKong in Decemeber of 2015 and Feberary of 2016 are the most important ones. Despite much opposition, it is undeniable that these two meetings basically determines the current status of Bitcoin. However, as the one of the original founders of Bitcoin, why did you choose to not attend these meetings? If you have ever attended and opposed gmax’s Core roadmap (SegWit Priority) in one of the meetings, we may be in a better situation now, and the 2M hard fork might have already begun. Can you explain your absence in the two meetings? Do you think the results of both meetings are orchestrated by blockstream?
A: 1) I attended the first scaling conference in Montreal in September of 2015, and had hoped that a compromise had been reached.
A few weeks after that conference, it was clear to me that whatever compromise had been reached was not going to happen, so it seemed pointless to travel all the way to Hong Kong in December for more discussion when all of the issues had been discussed repeatedly since February of 2015.
The February 2016 Hong Kong meeting I could not attend because I was invited only a short time before it happened and I had already planned a vacation with my family and grandparents.
I think all of those conferences were orchestrated mainly by people who do not think raising the block size limit is a high priority, and who want to see what problems happen as we run into the limit.
Q: 2) We have already known that gmax tries to limit the block size so as to get investment for his company. However, it is obvious that overthrowing Core is hard in the short term. What if Core continues to dominate the development of Bitcoin? Is it possible that blockstream core will never raise the blocksize limit because of their company interests?
A: 2) I don’t think investment for his company is Greg’s motivation-- I think he honestly believes that a solution like lightning is better technically.
He may be right, but I think it would be better if he considered that he might also be wrong, and allowed other solutions to be tried at the same time.
Blockstream is a funny company, with very strong-willed people that have different opinions. It is possible they will never come to an agreement on how to raise the blocksize limit.
7. HeiYanZhu
Q: I would like to ask your opinion on the current situation. It’s been two years, but a simple 2MB hard fork could not even be done. In Bitcoin land, two years are incredibly long. Isn’t this enough to believe this whole thing is a conspiracy?
A: I don’t think it is a conspiracy, I think it is an honest difference of opinion on what is most important to do first, and a difference in opinion on risks and benefits of doing different things.
Q: How can a multi-billion network with millions of users and investors be choked by a handful of people? How can this be called decentrilized and open-source software anymore? It is so hard to get a simple 2MB hard fork, but SegWig and Lighting Network with thousands of lines of code change can be pushed through so fast. Is this normal? It is what you do to define if you are a good man, not what you say.
A: I still believe good engineers will work around whatever unnecessary barriers are put in their way-- but it might take longer, and the results will not be as elegant as I would prefer.
The risk is that people will not be patient and will switch to something else; the recent rapid rise in developer interest and price of Ethereum should be a warning.
Q: The problem now is that everybody knows Classic is better, however, Core team has controlled the mining pools using their powers and polical approaches. This made them controll the vast majority of the hashpower, no matter what others propose. In addition, Chinese miners have little communication with the community, and do not care about the developement of the system. Very few of them knows what is going on in the Bitcoin land. They almost handed over their own power to the mining pool, so as long as Core controls the pools, Core controls the whole Bitcoin, no matter how good your Classic is. Under this circumstance, what is your plan?
A: Encourage alternatives to Core. If they work better (if they are faster or do more) then Core will either be replaced or will have to become better itself. I am happy to see innovations happening in projects like Bitcoin Unlimited, for example. And just this week I see that Matt Corallo will be working on bringing an optmized protocol for relaying blocks into Core; perhaps that was the plan all along, or perhaps the “extreme thin blocks” work in Bitcoin Unlimited is making that a higher priority. In any case, competition is healthy.
Q: From this scaling debate, do you think there is a huge problem with Bitcoin development? Does there exsit development centrilization? Does this situation need improvment? For example, estabilish a fund from Bitcoin as a fundation. It can be used for hiring developers and maintainers, so that we can solve the development issue once and for all.
A: I think the Core project spends too much time thinking about small probability technical risks (like “rogue miners” who create hard-to-validate blocks or try to send invalid blocks to SPV wallets) and not enough time thinking about much larger non-technical risks.
And I think the Core project suffers from the common open source software problem of “developers developing for developers.” The projects that get worked on are the technically interesting projects-- exciting new features (like the lightning network), and not improving the basic old features (like improving network performance or doing more code review and testing).
I think the situation is improving, with businesses investing more in development (but perhaps not in the Core project, because the culture of that project has become much less focused on short-term business needs and more on long-term exciting new features).
I am skeptical that crowd-funding software development can work well; if I look at other successful open source software projects, they are usually funded by companies, not individuals.
8.jb9802
You are one of the most-repected person in Bitcoin world, I won’t miss the chance to ask some questions. First of all, I am a Classic supporter. I strongly believe that on-chain transcations should not be restrained artificially. Even if there are transcations that are willing to go through Lighting Network in the future, it should be because of a free market, not because of artificial restrication. Here are some of my questions:
Q: 1) For the past two years, you’ve been proposing to Core to scale Bitcoin. In the early days of the discussion, Core devs did agree that the blocksize should be raised. What do you think is the major reason for Core to stall scaling. Does there exist conflict of interest between Blockstream and scaling?
A: 1) There might be unconscious bias, but I think there is just a difference of opinion on priorities and timing.
Q: 2) One of the reason for the Chinese to refuse Classic is that Classic dev team is not technically capable enough for future Bitcoin development. I also noticed that Classic does have a less frequent code release compared to Core. In your opinion, is there any solution to these problems? Have you ever thought to invite capable Chinese programers to join Classic dev team?
A: 2) The great thing about open source software is if you don’t think the development team is good enough (or if you think they are working on the wrong things) you can take the software and hire a better team to improve it.
Classic is a simple 2MB patch on top of Core, so it is intentional that there are not a lot of releases of Classic.
The priority for Classic right now is to do things that make working on Classic better for developers than working on Core, with the goal of attracting more developers. You can expect to see some results in the next month or two.
I invite capable programmers from anywhere, including China, to help any of the teams working on open source Bitcoin software, whether that is Classic or Core or Unlimited or bitcore or btcd or ckpool or p2pool or bitcoinj.
Q: 3) Another reason for some of the Chinese not supporting Classic is that bigger blocks are more vulnerable to spam attacks. (However, I do think that smaller blocks are more vlunerable to spam attack, because smaller amount of money is needed to choke the blockchain.) What’s our opinion on this?
A: 3) The best response to a transaction spam attack is for the network to reject transactions that pay too little fees but to simply absorb any “spam” that is paying as much fees as regular transactions.
The goal for a transaction spammer is to disrupt the network; if there is room for extra transactions in blocks, then the network can just accept the spam (“thank you for the extra fees!”) and continue as if nothing out of the ordinary happened.
Nothing annoys a spammer more than a network that just absorbs the extra transactions with no harmful effects.
Q: 4) According to your understanding on lighting network and sidechains,if most Bitcoin transactions goes throught lighting network or sidechains, it possible that the fees paid on the these network cannot reach the main-chain miners, which leaves miners starving. If yes, how much percent do you think will be given to miners.
A: 4) I don’t know, it will depend on how often lightning network channels are opened and closed, and that depends on how people choose to use lightning.
Moving transactions off the main chain and on to the lightning network should mean less fees for miners, more for lightning network hubs. Hopefully it will also mean lower fees for users, which will make Bitcoin more popular, drive up the price, and make up for the lower transaction fees paid to miners.
Q: 5) The concept of lighting network and sidechains have been out of one or two years already, when do you think they will be fully deployed.
A: 5) Sidechains are already “fully deployed” (unless you mean the version of sidechains that doesn’t rely on some trusted gateways to move bitcoin on and off the sidechain, which won’t be fully deployed for at least a couple of years). I haven’t seen any reports of how successful they have been.
I think Lightning will take longer than people estimate. Seven months ago Adam Back said that the lightning network might be ready “as soon as six months from now” … but I would be surprised if there was a robust, ready-for-everybody-to-use lightning-capable wallet before 2018.
Q: 6)Regarding the hard fork, Core team has assumed that it will cause a chain-split. (Chinese miners are very intimitated by this assumption, I think this is the major reason why most of the Chinese mining pools are not switching to Classic). Do you think Bitcoin will have a chain-split?
A: 6) No, there will not be a chain split. I have not talked to a single mining pool operator, miner, exchange, or major bitcoin business who would be willing to mine a minority branch of the chain or accept bitcoins from a minority branch of the main chain.
Q: 7) From your point of view, do you think there is more Classic supporters or Core supporters in the U.S.?
A: 7) All of the online opinion pools that have been done show that a majority of people worldwide support raising the block size limit.
9. btcc123
Q: Which is more in line with the Satoshi’s original roadmap, Bitcoin Classic or Bitcoin Core? How to make mining pools support and adopt Bitcoin Classic?
A: Bitcoin Classic is more in line with Satoshi’s original roadmap.
We can’t make the mining pools do anything they don’t want to do, but they are run by smart people who will do what they think is best for their businesses and Bitcoin.
10.KuHaiBian
Q: Do you have any solution for mining centralization? What do you think about the hard fork of changing mining algorithms?
A: I have a lot of thoughts on mining centralization; it would probably take ten or twenty pages to write them all down.
I am much less worried about mining centralization than most of the other developers, because Satoshi designed Bitcoin so miners make the most profit when they do what is best for Bitcoin. I have also seen how quickly mining pools come and go; people were worried that the DeepBit mining pool would become too big, then it was GHash.io…
And if a centralized mining pool does become too big and does something bad, the simplest solution is for businesses or people to get together and create or fund a competitor. Some of the big Bitcoin exchanges have been seriously considering doing exactly that to support raising the block size limit, and that is exactly the way the system is supposed to work-- if you don’t like what the miners are doing, then compete with them!
I think changing the mining algorithm is a complicated solution to a simple problem, and is not necessary.
11. ChaLi
Q: Last time you came to China, you said you want to "make a different". I know that in USA the opposition political party often hold this concept, in order to prevent the other party being totally dominant. Bitcoin is born with a deep "make a different" nature inside. But in Chinese culture, it is often interpreted as split “just for the sake of splitting”, can you speak your mind on what is your meaning of "make a different"?
A: I started my career in Silicon Valley, where there is a lot of competition but also a lot of cooperation. The most successful companies find a way to be different than their competitors; it is not a coincidence that perhaps the most successful company in the world (Apple Computer) had the slogan “think different.”
As Bitcoin gets bigger (and I think we all agree we want Bitcoin to get bigger!) it is natural for it to split and specialize; we have already seen that happening, with lots of choices for different wallets, different exchanges, different mining chips, different mining pool software.
12. bluestar
Q: 1) The development of XT and Classic confirmed my thoughts that it is nearly impossible to use a new version of bitcoin to replace the current bitcoin Core controlled by Blockstream. I think we will have to live with the power of Blockstream for a sufficient long time. It means we will see the deployment of SegWit and Lighting network. If it really comes to that point, what will you do? Will you also leave like Mike Hearn?
A: 1) With the development of Blockchain, bitcoin will grow bigger and bigger without any doubts, And also there will be more and more companies related to the bitcoin network. When it comes to money, there will be a lot of fights between these companies. Is it possible to form some kind of committee to avoid harmful fights between these companies and also the situation that a single company controlling the direction of the bitcoin development? Is there any one doing this kind of job right now?
Q: 2) My final question would be, do you really think it is possible that we can have a decentralized currency? Learning from the history, it seems like every thing will become centralized as long as it involves human. Do you have any picture for a decentralized currency or even a society? Thanks.
A: 2) I think you might be surprised at what most people are running a year or three from now. Perhaps it will be a future version of Bitcoin Core, but I think there is a very good chance another project will be more successful.
I remember when “everybody” was running Internet Explorer or Firefox, and people thought Google was crazy to think that Chrome would ever be a popular web browser. It took four years for Chrome to become the most popular web browser.
In any case, I plan on working on Bitcoin related projects for at least another few years. Eventually it will become boring or I will decide I need to take a couple of years of and think about what I want to do next.
As for fights between companies: there are always fights between companies, in every technology. There are organizations like the IETF (Internet Engineering Task Force) that try to create committees so engineers at companies can spend more time cooperating and less time fighting; I’m told by people who participate in IETF meetings that they are usually helpful and create useful standards more often than not.
Finally, yes, I do think we can have a “decentralized-enough” currency. A currency that might be controlled at particular times by a small set of people or companies, but that gives everybody else the ability to take control if those people or businesses misbehave.
13. satoshi
Hi Gavin, I have some questions:
Q: 1) I noticed there are some new names added to the classic team list. Most people here only know you and Jeff. Can you briefly introduce some others to the Chinese community?
A: 1)
Tom Zander has been acting as lead developer, and is an experienced C++ developer who worked previously on the Qt and Debian open source projects.
Pedro Pinheiro is on loan from Blockchain.info, and has mostly worked on continuous integration and testing for Classic.
Jon Rumion joined recently, and has been working on things that will make life for developers more pleasant (I don’t want to be more specific, I don’t want to announce things before they are finished in case they don’t work out).
Jeff has been very busy starting up Bloq, so he hasn’t been very active with Classic recently. I’ve also been very busy traveling (Barbados, Idaho, London and a very quick trip to Beijing) so haven’t been writing much code recently.
Q: 2) if bitcoin classic succeeded (>75% threshold), what role would you play in the team after the 2MB upgrade finished, as a leader, a code contributor, a consultant, or something else?
A: 2)Contributor and consultant-- I am trying not to be leader of any software project right now, I want to leave that to other people who are better at managing and scheduling and recruiting and all of the other things that need to be done to lead a software project.
Q: 3) if bitcoin classic end up failed to achieve mainstream adoption (<75% 2018), will you continue the endeavor of encouraging on-chain scaling and garden-style growth of bitcoin?
A: 3) Yes. If BIP109 does not happen, I will still be pushing to get a good on-chain solution to happen as soon as possible.
Q: 4) Have you encountered any threat in your life, because people would think you obviously have many bitcoins, like what happened to Hal Finney (RIP), or because some people have different ideas about what bitcoin's future should be?
A: 4) No, I don’t think I have received any death threats. It upsets me that other people have.
Somebody did threaten to release my and my wife’s social security numbers and other identity information if I did not pay them some bitcoins a couple of years ago. I didn’t pay, they did release our information, and that has been a little inconvenient at times.
Q: 5) Roger Ver (Bitcoin Jesus) said bitcoin would worth thousands of dollars. Do you have similar thoughts? If not, what is your opinion on bitcoin price in future?
A: 5) I learned long ago to give up trying to predict the price of stocks, currencies, or Bitcoin. I think the price of Bitcoin will be higher in ten years, but I might be wrong.
Q: 6) You've been to China. What's your impression about the country, people, and the culture here? Thank you!
A: 6) I had a very quick trip to Beijing a few weeks ago-- not nearly long enough to get a good impression of the country or the culture.
I had just enough time to walk around a little bit one morning, past the Forbidden City and walk around Tianmen Square. There are a LOT of people in China, I think the line to go into the Chairman Mao Memorial Hall was the longest I have ever seen!
Beijing reminded me a little bit of London, with an interesting mix of the very old with the very new. The next time I am in China I hope I can spend at least a few weeks and see much more of the country; I like to be in a place long enough so that I really can start to understand the people and cultures.
14. Pussinboots
Q: Dear Gavin, How could I contact you, we have an excellent team and good plans. please confirm your linkedin.
A: Best contact for me is gavin[email protected] : but I get lots of email, please excuse me if your messages get lost in the flood.
15. satoshi
Q: Gavin, you've been both core and classic code contributor. Are there any major differences between the two teams, concerning code testing (quality control) and the release process of new versions?
A: Testing and release processes are the same; a release candidate is created and tested, and once sufficiently tested, a final release is created, cryptographically signed by several developers, and then made available for download.
The development process for Classic will be a little bit different, with a ‘develop’ branch where code will be pulled more quickly and then either fixed or reverted based on how testing goes. The goal is to create a more developer-friendly process, with pull requests either accepted or rejected fairly quickly.
16. tan90d
I am a bitcoin enthusiast and a coin holder. I thank you for your great contribution to bitcoin. Please allow me to state some of my views before asking:
  1. I'm on board with classic
  2. I support the vision to make bitcoin a powerful currency that could compete with Visa
  3. I support segwit, so I'll endorse whichever version of bitcoin implementation that upgrades to segwit, regardless of block size.
  4. I disagree with those who argue bitcoin main blockchain should be a settlement network with small blocks. My view is that on the main chain btc should function properly as a currency, as well as a network for settlement.
  5. I'm against the deployment of LN on top of small block sized blockchain. Rather, it should be built on a chain with bigger blocks.
  6. I also won’t agree with the deployment of many sidechains on top of small size block chain. Rather, those sidechains should be on chain with bigger blocks.
With that said, below are my questions:
Q: 1) If bitcoin is developed following core's vision, and after the 2020 halving which cuts block reward down to 6.125BTC, do you think the block transaction fee at that time will exceed 3BTC?
A: 1) If the block limit is not raised, then no, I don’t think transaction fees will be that high.
Q: 2) If bitcoin is developed following classic's vision, and after the 2020 halving which cuts block reward down to 6.125BTC, do you think the block transaction fee at that time will exceed 3BTC?
A: 2) Yes, the vision is lots of transactions, each paying a very small fee, adding up to a big total for the miners.
Q: 3) If bitcoin is developed following core's vision, do you think POW would fail in future, because the mining industry might be accounted too low value compared with that of the bitcoin total market, so that big miners could threaten btc market and gain profit by shorting?
*The questioner further explained his concern.
Currently, its about ~1.1 billion CNY worth of mining facilities protecting ~42 billion CNY worth (6.5 Billion USD) of bitcoin market. The ratio is ~3%. If bitcoin market cap continues to grow and we adopt layered development plan, the mining portion may decrease, pushing the ratio go even down to <1%, meaning we are using very small money protecting an huge expensive system. For example, in 2020 if bitcoin market cap is ~100 billion CNY, someone may attempt to spend ~1 billion CNY bribe/manipulate miners to attack the network, thus making a great fortune by shorting bitcoin and destroying the ecosystem.
A: 3) Very good question, I have asked that myself. I have asked people if they know if there have been other cases where people destroyed a company or a market to make money by shorting it -- as far as I know, that does not happen. Maybe because it is impossible to take a large short position and remain anonymous, so even if you were successful, you would be arrested for doing whatever you did to destroy the company or market (e.g. blow up a factory to destroy a company, or double-spend fraud to try to destroy Bitcoin).
Q: 4) If bitcoin is developed following classic's vision, will the blocks become too big that kill decentralization?
A: 4) No, if you look at how many transactions the typical Internet connection can support, and how many transactions even a smart phone can validate per second, we can support many more transactions today with the hardware and network connections we have now.
And hardware and network connections are getting faster all the time.
Q: 5) In theory, even if we scale bitcoin with just LN and sidechains, the main chain still needs blocks with size over 100M, in order to process the trading volume matching Visa's network. So does core have any on-chain scaling plan other than 2MB? Or Core does not plan to evolve bitcoin into something capable of challenging visa?
A: 5) Some of the Core developer talk about a “flexcap” solution to the block size limit, but there is no specific proposal.
I think it would be best to eliminate the limit all together. That sounds crazy, but the most successful Internet protocols have no hard upper limits (there is no hard limit to how large a web page may be, for example), and no protocol limit is true to Satoshi’s original design.
Q: 6) If (the majority of) hash rate managed to switch to Classic in 2018, will the bitcoin community witness the deployment of LN in two years (~2018)?
A: 6) The bottleneck with Lightning Network will be wallet support, not support down at the Bitcoin protocol level. So I don’t think the deployment schedule of LN will be affected much whether Classic is adopted or not.
Q: 7) If (majority) hash rate upgraded to blocks with segwit features in 2017 as specified in core's roadmap, would classic propose plans to work on top of that (blocks with segwit)? Or insist developing simplified segwit blocks as described in classic's roadmap?
A: 7) Classic will follow majority hash rate. It doesn’t make sense to do anything else.
Q: 8) If most hash rate is still on core's side before 2018, will you be disappointed with bitcoin, and announce that bitcoin has failed like what Mike did, and sell all your stashed coins at some acceptable price?
A: 8) No-- I have said that I think if the block size limit takes longer to resolve, that is bad for Bitcoin in the short term, but smart engineers will work around whatever road blocks you put in front of them. I see Bitcoin as a long-term project.
Q: 9) If we have most hash rate switched to classic's side before 2018, what do you think will be the fate of Blockstream company?
A: 9) I think Blockstream might lose some employees, but otherwise I don’t think it will matter much. They are still producing interesting technology that might become a successful business.
Q: 10) If we have most hash rate still on core's side before 2018, what do you think will be the fate of Blockstream company?
A: 10) I don’t think Blockstream’s fate depends on whether or not BIP109 is adopted. It depends much more on whether or not they find customers willing to pay for the technology that they are developing.
Q: 11) If we have most hash rate still on core's side before 2018, what do you think will be the fate of companies that support classic, such as Coinbse, bitpay, and Blockchain.info?
A: 11) We have already seen companies like Kraken support alternative currencies (Kraken supports Litecoin and Ether); if there is no on-chain scaling solution accepted by the network, I think we will see more companies “hedging their bets” by supporting other currencies that have a simpler road map for supporting more transactions.
Q: 12) If we have most hash rate switched to classic's side before 2018, will that hinder the development of sidechain tech? What will happen to companies like Rockroot(Rootstock?) ?
A: 12) No, I think the best use of sidechains is for things that might be too risky for the main network (like Rootstock) or are narrowly focused on a small number of Bitcoin users. I don’t think hash rate supporting Classic will have any effect on that.
Q: 13) Between the two versions of bitcoin client, which one is more conducive to mining industry, classic or core?
A: 13) I have been working to make Classic better for the mining industry, but right now they are almost identical so it would be dishonest to say one is significantly better than the other.
17. Alfred
Q: Gavin, can you describe what was in your mind when you first learned bitcoin?
A: I was skeptical that it could actually work! I had to read everything I could about it, and then read the source code before I started to think that maybe it could actually be successful and was not a scam.
submitted by kcbitcoin to btc [link] [comments]

05-10 20:23 - 'calling out the generous side of the bitcoin community' (self.Bitcoin) by /u/RudeEliminator removed from /r/Bitcoin within 8-18min

'''
I have been involved in the bitcoin space since around 2014 I can't remember when or what was my first interaction with bitcoin but I believe it was around the time Andreas Antonopoulos went on Joe Rogans Podcast...
I won't go into full detail right away due to the possibility no one would even read this, believe it or give a shit...but I come from a broken home where we lost almost everything... through working hard I made decent money a few summers and really went all in 2016...I made a few gains when I put some bitcoin into , , ** .. and at one point had around 20 bitcoin....the problem is through some events that happened, that I will only have the stomach to talk about after I have over 20 bitcoins again, I lost all my coins... I went from having around 20 coins to basically 0....
I know that people throw millions of $$$ around all the time and have been thinking of writing to reddit, or twitter or anywhere to see if anyone will FEEL that what I am saying is true and that losing these 20 bitcoins have been haunting me since october 2016...
If I had them still...or if someone or a group of people come together and help me add up to 20 bitcoins again then I will HODL them until they hit $1,000,000. I truly believe as more and more people want to get in, more infrastructure is built, more bitcoin will be needed and with such a small circulating supply I see the price hitting 6-7 figures by at least 2024-2028....maybe even sooner since I predicted $2,000 by 2020 so you can imagine how pissed I was thinking how the fuck am I going to get my 20 bitcoin back if they continue to climb in price past $20K...
please reddit help me - send me bitcoin
1HVHJ6z9r76XQ23sKuENYbdFe76amzSS8X
this is not begging...this is me sharing a small portion of my anxiety by putting it out into the universe and hoping the universe will balance my negativity with compassion and good timing
'''
calling out the generous side of the bitcoin community
Go1dfish undelete link
unreddit undelete link
Author: RudeEliminator
submitted by removalbot to removalbot [link] [comments]

Subreddit Stats: ethtrader top posts from 2016-05-05 to 2017-05-04 06:11 PDT

Period: 363.78 days
Submissions Comments
Total 1000 75999
Rate (per day) 2.75 208.55
Unique Redditors 436 4914
Combined Score 116948 439617

Top Submitters' Top Submissions

  1. 3713 points, 42 submissions: twigwam
    1. Coinbase granted N.Y. approval to offer Ether trades (203 points, 48 comments)
    2. That moment when you can buy Ether in the crappiest of grocery stores in Romania :D #Ethereum getting mainstream! @Peter_Szilagyi (202 points, 15 comments)
    3. Is Ethereum The New Bitcoin? [Huffington Post] (183 points, 120 comments)
    4. Forget Bitcoin. The Blockchain Could Reveal What'€™s True Today and Tomorrow [Wired] (146 points, 17 comments)
    5. [CNBC] Alternative cryptocurrency Ether has done something only Bitcoin has manage to do (141 points, 27 comments)
    6. "Should a Bitcoin hard fork occur, expect this to be a bullish event for ETH with ...a target of $65-80" -Nasdaq.com (128 points, 112 comments)
    7. Enterprise Ethereum Alliance Releases Vision Paper (119 points, 16 comments)
    8. To be clear, the proposed 'hard fork' will NOT roll any "blocks back, or to undo any transactions that have nothing to do with the DAO." (118 points, 47 comments)
    9. I'll Say It Again: Ethereum Beats Bitcoin [TheStreet] (117 points, 34 comments)
    10. Business Giants to Announce Creation of a Computing System Based on Ethereum [New York Times] (114 points, 37 comments)
  2. 2352 points, 24 submissions: -bawb405-
    1. "ethereum is it" says the guy who wrote the code that runs the modern web. ❤️ (210 points, 19 comments)
    2. People are now using Ethereum without ever having heard of it. Charged a BMW i3 at a "blockchainified" Share&Charge station today. Paid with Ethereum ERC20 Euro tokens through their app. • ethereum (194 points, 16 comments)
    3. Bosch using Ethereum (fixed) - a company with $70+ Billion in revenue last year - is building dapps on Ethereum (172 points, 27 comments)
    4. AlphaBay Market adding Ethereum for payments (157 points, 36 comments)
    5. $20 felt good, but we're still in early adoption by a long shot (122 points, 139 comments)
    6. Tools and technologies in the Ethereum ecosystem (118 points, 6 comments)
    7. If it's anything like last year, remember to be thoughtful and helpful to noobs (111 points, 36 comments)
    8. Remember to be thoughtful and helpful to noobs (110 points, 24 comments)
    9. Been posting on this community for a year+. Bought my first Ledger S Nano this week. Why the hell didn't I do this earlier? This is the simplest way to cold store ETH with total peace of mind that I've seen. I feel dumb for not doing it earlier. (99 points, 118 comments)
    10. Enterprise Ethereum (includes JP Morgan, CME Group, BNY Mellon, Banco Santander, Microsoft, Red Hat, Cisco, Wipro and British Petroleum) is "looking to build scalable, secure implementations of the private ethereum blockchain with an eye to also help improve the public version of the technology" (99 points, 20 comments)
  3. 2219 points, 18 submissions: Nooku
    1. To all Gnosis token holders. Take a seat before reading this. (440 points, 215 comments)
    2. This is Bitcoin (265 points, 113 comments)
    3. A hard fork is the best thing for the Ethereum network; credibility and ideology is bullshit. Ethereum simply has to execute programs, the rest comes later. (236 points, 326 comments)
    4. How it is to be an early adoptor (172 points, 41 comments)
    5. Found a major TokenCard ICO token distribution bug (171 points, 127 comments)
    6. Ethereum right now (102 points, 5 comments)
    7. The #2 reason to be invested in Ethereum (93 points, 26 comments)
    8. Thank you MEW ( MyEtherWallet ) (88 points, 32 comments)
    9. We were not joking. (88 points, 10 comments)
    10. Which burden do you want to carry: Going to PoS with an anti-Ethereum hacker holding (1)5 % of the Ethers? Or having an anti-principle fork in the history of the network which prevented exactly that? (80 points, 95 comments)
  4. 2114 points, 24 submissions: Mr_Yukon_C
    1. Me watching the ETH price rebound today! (199 points, 27 comments)
    2. Is it time for this yet? LOL (183 points, 20 comments)
    3. Bitcoin desperation -- spamming Ethereum's Geth github repo -- see the messages for yourself (163 points, 44 comments)
    4. Vitalik: "I expect future net inflation will eventually go slightly negative once there's a high volume of transactions on the network." (133 points, 44 comments)
    5. Vitalik on PoS/Casper -- "our current approach...is actually going quite well." (121 points, 23 comments)
    6. Vitalik addresses Vlad's tweet about reducing the block reward by a factor of 4 (110 points, 28 comments)
    7. Tezos red flags! (97 points, 81 comments)
    8. MarketWatch - Bitcoin rival Ethereum is making a comeback (78 points, 14 comments)
    9. Must be getting close to the bottom -- extreme negative sentiment. (78 points, 104 comments)
    10. Devcon3: venue will be in Cancun in November! (77 points, 36 comments)
  5. 1528 points, 13 submissions: nanomind
    1. x - post : I am stepping down as a moderator of btc and exiting the bitcoin community and entering the Ethereum community. (280 points, 104 comments)
    2. Billionaire says he has 10% of his money in Bitcoin, Ether and Blockchain tech (214 points, 85 comments)
    3. The United Nations Just Completed Its First Large-Scale Ethereum Test (197 points, 19 comments)
    4. Ethereum Google Searches Spike to an All-Time High (130 points, 16 comments)
    5. Bitcoin Has “Lost the Innovation of the Future” Says Balaji (128 points, 45 comments)
    6. The Insanity and Brilliance at Ethereum’s Developer Conference (113 points, 18 comments)
    7. More Banks Are Signing Up for ING's Ethereum Oil Trading Test (96 points, 23 comments)
    8. Ethereum: The not-Bitcoin cryptocurrency that could help replace Uber (74 points, 32 comments)
    9. Op-Ed: Are Businesses Ditching Bitcoin for Ethereum? - CryptoCoinsNews (66 points, 7 comments)
    10. Ethereum Prediction Market Project Gnosis Sets ICO Launch Date (63 points, 36 comments)
  6. 1450 points, 2 submissions: Harry_Specter
    1. [Daily Discussion] - 28/Ap2017 - Daily Discussion Unlimited (1076 points, 3588 comments)
    2. [Daily Discussion] - 21/Ap2017 - USER HOSTED (374 points, 891 comments)
  7. 1399 points, 16 submissions: econoar
    1. Santander Vies to Become First Bank to Issue Cash on Blockchain using Public Ethereum Chain (179 points, 68 comments)
    2. DAO hard fork proposal by Gavin Wood (121 points, 76 comments)
    3. DAO rescue hotfix (soft fork) released. (119 points, 67 comments)
    4. Coinbase VP Tells Forbes that Ethereum will be available for purchase on its retail site Coinbase.com this month. (118 points, 46 comments)
    5. ShapeShift raises $10.4mn in VC funding, plans to build an exchange using smart contracts (116 points, 17 comments)
    6. AmBanker: Brendan Eich (Co-Founder of Mozilla) is launching an ICO on Ethereum (112 points, 42 comments)
    7. Never forget (78 points, 28 comments)
    8. RBS testing Ethereum as a Clearing and Settlement Mechanism, willing to use public chain if transaction speeds and some other criteria are met (76 points, 13 comments)
    9. 50% of today's ETH volume is on fiat pairs. Keep it up! (74 points, 5 comments)
    10. JP Morgan looking to use Ethereum for data privacy (66 points, 3 comments)
  8. 1361 points, 17 submissions: BeerBellyFatAss
    1. Here's Why Microsoft, JP Morgan Chase And These Entrepreneurs Are All-In On Ethereum (185 points, 36 comments)
    2. Broadridge, J.P. Morgan, Northern Trust and Banco Santander Successfully Complete Pilot of Blockchain-Based Proxy Vote Solution (146 points, 23 comments)
    3. Ethereum Stole the Show at Microsoft's New York City Demo Day (142 points, 22 comments)
    4. This video should be stickied on Ethtrader as it gives new investors/traders a synopsis of what Ethereum is about. Upvote or downvote if you agree/disagree. (118 points, 11 comments)
    5. New to Ethereum - Please check out this 20 Min TED Talk - a high level overview by Don Tapscott: How the blockchain is changing money and business (82 points, 3 comments)
    6. Big Business Giants From Microsoft to J.P. Morgan Are Getting Behind Ethereum (68 points, 0 comments)
    7. Digital Currencies Show Potential To Be New Asset Class As Demand For Bitcoin Rival Ethereum Rises (64 points, 21 comments)
    8. Ethereum Research Update (60 points, 2 comments)
    9. Hyperledger, Ethereum Blockchain Projects Move Toward Cooperation, Not Competition (59 points, 0 comments)
    10. JPMorgan, Microsoft, Intel and others form new blockchain alliance (59 points, 3 comments)
  9. 1293 points, 12 submissions: ceo-of-bitcoin
    1. Bitcoin spent 2 years on stale discussion, while ETH developed amazing features. I'm 100% Flipped. (210 points, 104 comments)
    2. Andreas Antonopoulos says BTC and ETH are not in competition. Believe me, they were very much in competition when I sold all my BTC for ETH. (159 points, 80 comments)
    3. The DAO will be remembered as (1) an early experiment that blew up, OR (2) a reputation-tarnishing event. Let's hard fork and move forward. (138 points, 131 comments)
    4. Imagine this scenario (126 points, 76 comments)
    5. It's so obvious what will happen next (108 points, 68 comments)
    6. Microsoft CEO explains the success of ETH (108 points, 19 comments)
    7. The scaling debate is over. ETH won. (101 points, 45 comments)
    8. Ethereum contracts depend on Ethereum's consensus. If Ethereum declares the DAO's laws invalid, then they are. (87 points, 41 comments)
    9. Bitcoin discussion is inherently political because there is nothing genuinely interesting to talk about. ETH is the opposite. (79 points, 20 comments)
    10. Bitcoin Maximalists had the right idea, but they were 3 years too early (67 points, 8 comments)
  10. 1292 points, 10 submissions: heliumcraft
    1. Javascript Inventor: 'we need smart contracts -- Ethereum is "it"' (247 points, 31 comments)
    2. Welcome to EthTrader ! (197 points, 25 comments)
    3. Vitalik Buterin: Casper PoC3 backbone simulations: 3s block time, 1.25s avg latency + 2s avg clock offset: 1% stale rate (182 points, 44 comments)
    4. twitter: "There are more devs working on Ethereum & its ecosystem than Bitcoin. Discuss." (138 points, 23 comments)
    5. MetaMask public developer beta begins! Extension turns Chrome into an Ethereum Web3 browser! (133 points, 18 comments)
    6. twitter: "Back when the price of ETH was $4 It was stated the Ethereum foundation had enough money for 4 years of operations. It's $40 now. (109 points, 20 comments)
    7. Reminder: There is a ethtrader telegram channel (87 points, 29 comments)
    8. Jack Peterson: "if anyone's curious why REP and ETH prices are tanking today, some shithead hacked Bob Shen and dumped his ETH+REP" (79 points, 68 comments)
    9. Light Client ready to test later this week (69 points, 14 comments)
    10. Light Client ready to test later this week (51 points, 0 comments)

Top Commenters

  1. jtnichol (6731 points, 961 comments)
  2. hodlor (6582 points, 866 comments)
  3. Mr_Yukon_C (5562 points, 750 comments)
  4. myownman (4879 points, 673 comments)
  5. antiprosynthesis (4763 points, 959 comments)
  6. econoar (4389 points, 436 comments)
  7. IRefuseToGiveAName (4285 points, 600 comments)
  8. oldskool47 (4142 points, 574 comments)
  9. Nooku (3762 points, 409 comments)
  10. ethacct (3515 points, 456 comments)
  11. Happy1013 (3396 points, 375 comments)
  12. laughncow (3321 points, 513 comments)
  13. csasker (3110 points, 466 comments)
  14. ninethirtyone (3093 points, 362 comments)
  15. HandyNumber (3057 points, 527 comments)
  16. -o-o-o (3008 points, 520 comments)
  17. talkingbob (2952 points, 503 comments)
  18. Bitcoin_Schmitcoin (2762 points, 200 comments)
  19. etheryum (2756 points, 459 comments)
  20. CommodoreHodlor (2643 points, 460 comments)
  21. earthquakequestion (2488 points, 397 comments)
  22. yayreddityay (2478 points, 304 comments)
  23. OperationNine (2330 points, 251 comments)
  24. manimoa (2242 points, 280 comments)
  25. Hiphopsince1988 (2120 points, 307 comments)

Top Submissions

  1. [Daily Discussion] - 28/Ap2017 - Daily Discussion Unlimited by Harry_Specter (1076 points, 3588 comments)
  2. Germany's Energy Giant Launches 100s of Ethereum Based Electric Cars Charging Stations by mixmaster_remailer (521 points, 103 comments)
  3. Over 200 Companies expected to join Enterprise Ethereum Alliance (EEA) over the next 2 to 3 months by yesono (508 points, 180 comments)
  4. To all Gnosis token holders. Take a seat before reading this. by Nooku (440 points, 215 comments)
  5. Fellow Etherians: when you wish you had purchased more, remember this... by mrcarner (437 points, 160 comments)
  6. Hivemind trading: For every upvote, I will long 1 ETH. For every downvotes, I will short 1 ETH. Let's do this. by Ignatius_G_Reilly (397 points, 32 comments)
  7. /ethtrader is trending! by suclearnub (383 points, 36 comments)
  8. Vitalik: "An additional 10% of the block reward starting from Metropolis will be directed to our shareholders at AXA and the Bilderberg group. This change is permanent." And more Q1 Dev developments. by scarpoochi (377 points, 75 comments)
  9. [Daily Discussion] - 21/Ap2017 - USER HOSTED by Harry_Specter (374 points, 891 comments)
  10. Companies secretly using ethereum. Blockchain analysis(an early look) by Crypt0-Bear (362 points, 133 comments)

Top Comments

  1. 261 points: insomniasexx's comment in My final margin call
  2. 182 points: deleted's comment in [Daily Discussion] - 31/Ma2017
  3. 158 points: MidnightOnMars's comment in [Daily Discussion] - 29/Ma2017
  4. 156 points: yosh579's comment in So I made a bet about an Ethereum Tattoo if it hit 75 before May or before Metropolis...
  5. 148 points: ev1501's comment in [Daily Discussion] - 28/Ap2017 - Daily Discussion Unlimited
  6. 148 points: yayreddityay's comment in [Daily Discussion] - 24/Ma2017
  7. 146 points: BitEther's comment in Over 200 Companies expected to join Enterprise Ethereum Alliance (EEA) over the next 2 to 3 months
  8. 133 points: shadesvo's comment in With Great Wealth Comes Great Responsibility
  9. 130 points: ProtectYourMind's comment in Monster support wall on GDAX
  10. 130 points: Trencheel303's comment in Fellow Etherians: when you wish you had purchased more, remember this...
Generated with BBoe's Subreddit Stats (Donate)
submitted by subreddit_stats to subreddit_stats [link] [comments]

05-10 20:03 - 'How Generous The Bitcoin Community Really Is' (self.Bitcoin) by /u/RudeEliminator removed from /r/Bitcoin within 0-8min

'''
I have been involved in the bitcoin space since around 2014 I can't remember when or what was my first interaction with bitcoin but I believe it was around the time Andreas Antonopoulos went on Joe Rogans Podcast...
I won't go into full detail right away due to the possibility no one would even read this, believe it or give a shit...but I come from a broken home where we lost almost everything... through working hard I made decent money a few summers and really went all in 2016...I made a few gains when I put some bitcoin into **, *, ***** .. and at one point had around 20 bitcoin....the problem is through some events that happened, that I will only have the stomach to talk about after I have over 20 bitcoins again, I lost all my coins... I went from having around 20 coins to basically 0....
I know that people throw millions of $$$ around all the time and have been thinking of writing to reddit, or twitter or anywhere to see if anyone will FEEL that what I am saying is true and that losing these 20 bitcoins have been haunting me since october 2016...
If I had them still...or if someone or a group of people come together and help me add up to 20 bitcoins again then I will HODL them until they hit $1,000,000. I truly believe as more and more people want to get in, more infrastructure is built, more bitcoin will be needed and with such a small circulating supply I see the price hitting 6-7 figures by at least 2024-2028....maybe even sooner since I predicted $2,000 by 2020 so you can imagine how pissed I was thinking how the fuck am I going to get my 20 bitcoin back if they continue to climb in price past $20K...
please reddit help me - send me bitcoin
1HVHJ6z9r76XQ23sKuENYbdFe76amzSS8X
this is not begging...this is me sharing a small portion of my anxiety by putting it out into the universe and hoping the universe will balance my negativity with compassion and good timing
'''
How Generous The Bitcoin Community Really Is
Go1dfish undelete link
unreddit undelete link
Author: RudeEliminator
submitted by removalbot to removalbot [link] [comments]

Full English Transcript of Gavin's AMA on 8BTC, April 21st. (Part 1)

Part 2
Part 3
Raw transcript on Google Docs (English+Chinese): https://docs.google.com/document/d/1p3DWMfeGHBL6pk4Hu0efgQWGsUAdFNK6zLHubn5chJo/edit?usp=sharing
Translators/Organizers: emusher, kcbitcoin, nextblast, pangcong, Red Li, WangXiaoMeng. (Ranked in alphabetical order)
1.crypto888
Q: What is your relationship with Blockstream now? Are you in a Cold War? Your evaluation on BS was pretty high “If this amazing team offers you a job, you should take it,” tweeted Gavin Andresen, Chief Scientist, Bitcoin Foundation.” But now, what’s your opinion on BS?
A: I think everybody at Blockstream wants Bitcoin to succeed, and I respect and appreciate great work being done for Bitcoin by people at Blockstream.
We strongly disagree on priorities and timing; I think the risks of increasing the block size limit right away are very small. I see evidence of people and businesses getting frustrated by the limit and choosing to use something else (like Ethereum or a private blockchain); it is impossible to know for certain how dangerous that is for Bitcoin, but I believe it is more danger than the very small risk of simply increasing or eliminating the block size limit.
2. Ma_Ya
Q: 1) Why insist on hard fork at only 75%? You once explained that it is possible to be controlled by 5% if we set the threshold at 95%. I agree, but there should be some balance here. 75% means a high risk in splitting, isn’t it too aggressive? Is it better if we set it to 90%?
A: 1)The experience of the last two consensus changes is that miners very quickly switch once consensus reaches 75% -- the last soft fork went from 75% support to well over 95% support in less than one week. So I’m very confident that miners will all upgrade once the 75% threshold is reached, and BIP109 gives them 28 days to do so. No miner wants to create blocks that will not be accepted by the network.
Q: 2) How to solve the potentially very large blocks problem Classic roadmap may cause, and furthur causing the centralization of nodes in the future?
A: 2)Andreas Antonopoulos gave a great talk recently about how people repeatedly predicted that the Internet would fail to scale. Smart engineers proved them wrong again and again, and are still busy proving them wrong today (which is why I enjoy streaming video over my internet connection just about every night).
I began my career working on 3D graphics software, and saw how quickly we went from being able to draw very simple scenes to today’s technology that is able to render hundreds of millions of triangles per second.
Processing financial transactions is much easier than simulating reality. Bitcoin can easily scale to handle thousands of transactions per second, even on existing computers and internet connections, and even without the software optimizations that are already planned.
Q: 3) Why do you not support the proposal of RBF by Satoshi, and even plan to remove it in Classic completely?
A: 3) Replace-by-fee should be supported by most of the wallets people are using before it is supported by the network. Implementing replace-by-fee is very hard for a wallet, especially multi-signature and hardware wallets that might not be connected to the network all of the time.
When lots of wallet developers start saying that replace-by-fee is a great idea, then supporting it at the network level makes sense. Not before.
Q: 4) . Your opinion on soft fork SegWit, sidechain, lighnting network. Are you for or against, please give brief reasons. Thanks.
A: 4) The best way to be successful is to let people try lots of different things. Many of them won’t be successful, but that is not a problem as long as some of them are successful.
I think segregated witness is a great idea. It would be a little bit simpler as a hard fork instead of a soft fork (it would be better to put the merkle root for the witness data into the merkle root in the block header instead of putting it inside a transaction), but overall the design is good.
I think sidechains are a good idea, but the main problem is finding a good way to keep them secure. I think the best uses of sidechains will be to publish “write-only” public information involving bitcoin. For example, I would like to see a Bitcoin exchange experiment with putting all bids and asks and trades on a sidechain that they secure themselves, so their customers can verify that their orders are being carried out faithfully and nobody at the exchanges is “front-running” them.
Q: 5) Can you share your latest opinion on Brainwallet? It is hard for new users to use long and complex secure passphrase, but is it a good tool if it solves this problem?
A: 5) We are very, very bad at creating long and complex passphrases that are random enough to be secure. And we are very good at forgetting things.
We are much better at keeping physical items secure, so I am much more excited about hardware wallets and paper wallets than I am about brain wallets. I don’t trust myself to keep any bitcoin in a brain wallet, and do not recommend them for anybody else, either.
3. BiTeCui
Q: Gavin, do you have bitcoins now? What is your major job in MIT? Has FBI ever investigated on you? When do you think SHA256 might be outdated, it seems like it has been a bit unsafe?
A: Yes, a majority of my own person wealth is still in bitcoins -- more than a financial advisor would say is wise.
My job at MIT is to make Bitcoin better, in whatever way I think best. That is the same major job I had at the Bitcoin Foundation. Sometimes I think the best way to make Bitcoin better is to write some code, sometimes to write a blog post about what I see happening in the Bitcoin world, and sometimes to travel and speak to people.
The FBI (or any other law enforcement agency) has never investigated me, as far as I know. The closest thing to an investigation was an afternoon I spent at the Securities and Exchange Commission in Washington, DC. They were interested in how I and the other Bitcoin developers created the software and how much control we have over whether or not people choose to run the software that we create.
“Safe or unsafe” is not the way to think about cryptographic algorithms like SHA256. They do not suddenly go from being 100% secure for everything to completely insecure for everything. I think SHA256 will be safe enough to use in the all ways that Bitcoin is using it for at least ten years, and will be good enough to be used as the proof-of-work algorithm forever.
It is much more likely that ECDSA, the signature algorithm Bitcoin is using today, will start to become less safe in the next ten or twenty years, but developer are already working on replacements (like Schnorr signatures).
4. SanPangHenBang
Q: It’s a pleasure to meet you. I only have one question. Which company are you serving? or where do you get your salary?
A: The Media Lab at MIT (Massachusetts Institute of Technology) pays my salary; I don’t receive regular payments from anybody else.
I have received small amounts of stock options in exchange for being a techical advisor to several Bitcoin companies (Coinbase, BitPay, Bloq, Xapo, Digital Currency Group, CoinLab, TruCoin, Chain) which might be worth money some day if one or more of those companies do very well. I make it very clear to these companies that my priority is to make Bitcoin better, and my goal in being an advisor to them is to learn more about the problems they face as they try to bring Bitcoin to more of their customers.
And I am sometimes (once or twice a year) paid to speak at events.
5.SaTuoXi
Q: Would you mind share your opinion on lightning network? Is it complicated to implement? Does it need hard fork?
A: Lightning does not need a hard fork.
It is not too hard to implement at the Bitcoin protocol level, but it is much more complicated to create a wallet capable of handling Lightning network payments properly.
I think Lightning is very exciting for new kinds of payments (like machine-to-machine payments that might happen hundreds of times per minute), but I am skeptical that it will be used for the kinds of payments that are common on the Bitcoin network today, because they will be more complicated both for wallet software and for people to understand.
6. pangcong
Q: 1) There has been a lot of conferences related to blocksize limit. The two took place in HongKong in Decemeber of 2015 and Feberary of 2016 are the most important ones. Despite much opposition, it is undeniable that these two meetings basically determines the current status of Bitcoin. However, as the one of the original founders of Bitcoin, why did you choose to not attend these meetings? If you have ever attended and opposed gmax’s Core roadmap (SegWit Priority) in one of the meetings, we may be in a better situation now, and the 2M hard fork might have already begun. Can you explain your absence in the two meetings? Do you think the results of both meetings are orchestrated by blockstream?
A: 1) I attended the first scaling conference in Montreal in September of 2015, and had hoped that a compromise had been reached.
A few weeks after that conference, it was clear to me that whatever compromise had been reached was not going to happen, so it seemed pointless to travel all the way to Hong Kong in December for more discussion when all of the issues had been discussed repeatedly since February of 2015.
The February 2016 Hong Kong meeting I could not attend because I was invited only a short time before it happened and I had already planned a vacation with my family and grandparents.
I think all of those conferences were orchestrated mainly by people who do not think raising the block size limit is a high priority, and who want to see what problems happen as we run into the limit.
Q: 2) We have already known that gmax tries to limit the block size so as to get investment for his company. However, it is obvious that overthrowing Core is hard in the short term. What if Core continues to dominate the development of Bitcoin? Is it possible that blockstream core will never raise the blocksize limit because of their company interests?
A: 2) I don’t think investment for his company is Greg’s motivation-- I think he honestly believes that a solution like lightning is better technically.
He may be right, but I think it would be better if he considered that he might also be wrong, and allowed other solutions to be tried at the same time.
Blockstream is a funny company, with very strong-willed people that have different opinions. It is possible they will never come to an agreement on how to raise the blocksize limit.
7. HeiYanZhu
Q: I would like to ask your opinion on the current situation. It’s been two years, but a simple 2MB hard fork could not even be done. In Bitcoin land, two years are incredibly long. Isn’t this enough to believe this whole thing is a conspiracy?
A: I don’t think it is a conspiracy, I think it is an honest difference of opinion on what is most important to do first, and a difference in opinion on risks and benefits of doing different things.
Q: How can a multi-billion network with millions of users and investors be choked by a handful of people? How can this be called decentrilized and open-source software anymore? It is so hard to get a simple 2MB hard fork, but SegWig and Lighting Network with thousands of lines of code change can be pushed through so fast. Is this normal? It is what you do to define if you are a good man, not what you say.
A: I still believe good engineers will work around whatever unnecessary barriers are put in their way-- but it might take longer, and the results will not be as elegant as I would prefer.
The risk is that people will not be patient and will switch to something else; the recent rapid rise in developer interest and price of Ethereum should be a warning.
Q: The problem now is that everybody knows Classic is better, however, Core team has controlled the mining pools using their powers and polical approaches. This made them controll the vast majority of the hashpower, no matter what others propose. In addition, Chinese miners have little communication with the community, and do not care about the developement of the system. Very few of them knows what is going on in the Bitcoin land. They almost handed over their own power to the mining pool, so as long as Core controls the pools, Core controls the whole Bitcoin, no matter how good your Classic is. Under this circumstance, what is your plan?
A: Encourage alternatives to Core. If they work better (if they are faster or do more) then Core will either be replaced or will have to become better itself. I am happy to see innovations happening in projects like Bitcoin Unlimited, for example. And just this week I see that Matt Corallo will be working on bringing an optmized protocol for relaying blocks into Core; perhaps that was the plan all along, or perhaps the “extreme thin blocks” work in Bitcoin Unlimited is making that a higher priority. In any case, competition is healthy.
Q: From this scaling debate, do you think there is a huge problem with Bitcoin development? Does there exsit development centrilization? Does this situation need improvment? For example, estabilish a fund from Bitcoin as a fundation. It can be used for hiring developers and maintainers, so that we can solve the development issue once and for all.
A: I think the Core project spends too much time thinking about small probability technical risks (like “rogue miners” who create hard-to-validate blocks or try to send invalid blocks to SPV wallets) and not enough time thinking about much larger non-technical risks.
And I think the Core project suffers from the common open source software problem of “developers developing for developers.” The projects that get worked on are the technically interesting projects-- exciting new features (like the lightning network), and not improving the basic old features (like improving network performance or doing more code review and testing).
I think the situation is improving, with businesses investing more in development (but perhaps not in the Core project, because the culture of that project has become much less focused on short-term business needs and more on long-term exciting new features).
I am skeptical that crowd-funding software development can work well; if I look at other successful open source software projects, they are usually funded by companies, not individuals.
8.jb9802
You are one of the most-repected person in Bitcoin world, I won’t miss the chance to ask some questions. First of all, I am a Classic supporter. I strongly believe that on-chain transcations should not be restrained artificially. Even if there are transcations that are willing to go through Lighting Network in the future, it should be because of a free market, not because of artificial restrication. Here are some of my questions:
Q: 1) For the past two years, you’ve been proposing to Core to scale Bitcoin. In the early days of the discussion, Core devs did agree that the blocksize should be raised. What do you think is the major reason for Core to stall scaling. Does there exist conflict of interest between Blockstream and scaling?
A: 1) There might be unconscious bias, but I think there is just a difference of opinion on priorities and timing.
Q: 2) One of the reason for the Chinese to refuse Classic is that Classic dev team is not technically capable enough for future Bitcoin development. I also noticed that Classic does have a less frequent code release compared to Core. In your opinion, is there any solution to these problems? Have you ever thought to invite capable Chinese programers to join Classic dev team?
A: 2) The great thing about open source software is if you don’t think the development team is good enough (or if you think they are working on the wrong things) you can take the software and hire a better team to improve it.
Classic is a simple 2MB patch on top of Core, so it is intentional that there are not a lot of releases of Classic.
The priority for Classic right now is to do things that make working on Classic better for developers than working on Core, with the goal of attracting more developers. You can expect to see some results in the next month or two.
I invite capable programmers from anywhere, including China, to help any of the teams working on open source Bitcoin software, whether that is Classic or Core or Unlimited or bitcore or btcd or ckpool or p2pool or bitcoinj.
Q: 3) Another reason for some of the Chinese not supporting Classic is that bigger blocks are more vulnerable to spam attacks. (However, I do think that smaller blocks are more vlunerable to spam attack, because smaller amount of money is needed to choke the blockchain.) What’s our opinion on this?
A: 3) The best response to a transaction spam attack is for the network to reject transactions that pay too little fees but to simply absorb any “spam” that is paying as much fees as regular transactions.
The goal for a transaction spammer is to disrupt the network; if there is room for extra transactions in blocks, then the network can just accept the spam (“thank you for the extra fees!”) and continue as if nothing out of the ordinary happened.
Nothing annoys a spammer more than a network that just absorbs the extra transactions with no harmful effects.
Q: 4) According to your understanding on lighting network and sidechains,if most Bitcoin transactions goes throught lighting network or sidechains, it possible that the fees paid on the these network cannot reach the main-chain miners, which leaves miners starving. If yes, how much percent do you think will be given to miners.
A: 4) I don’t know, it will depend on how often lightning network channels are opened and closed, and that depends on how people choose to use lightning.
Moving transactions off the main chain and on to the lightning network should mean less fees for miners, more for lightning network hubs. Hopefully it will also mean lower fees for users, which will make Bitcoin more popular, drive up the price, and make up for the lower transaction fees paid to miners.
Q: 5) The concept of lighting network and sidechains have been out of one or two years already, when do you think they will be fully deployed.
A: 5) Sidechains are already “fully deployed” (unless you mean the version of sidechains that doesn’t rely on some trusted gateways to move bitcoin on and off the sidechain, which won’t be fully deployed for at least a couple of years). I haven’t seen any reports of how successful they have been.
I think Lightning will take longer than people estimate. Seven months ago Adam Back said that the lightning network might be ready “as soon as six months from now” … but I would be surprised if there was a robust, ready-for-everybody-to-use lightning-capable wallet before 2018.
Q: 6)Regarding the hard fork, Core team has assumed that it will cause a chain-split. (Chinese miners are very intimitated by this assumption, I think this is the major reason why most of the Chinese mining pools are not switching to Classic). Do you think Bitcoin will have a chain-split?
A: 6) No, there will not be a chain split. I have not talked to a single mining pool operator, miner, exchange, or major bitcoin business who would be willing to mine a minority branch of the chain or accept bitcoins from a minority branch of the main chain.
Q: 7) From your point of view, do you think there is more Classic supporters or Core supporters in the U.S.?
A: 7) All of the online opinion pools that have been done show that a majority of people worldwide support raising the block size limit.
9. btcc123
Q: Which is more in line with the Satoshi’s original roadmap, Bitcoin Classic or Bitcoin Core? How to make mining pools support and adopt Bitcoin Classic?
A: Bitcoin Classic is more in line with Satoshi’s original roadmap.
We can’t make the mining pools do anything they don’t want to do, but they are run by smart people who will do what they think is best for their businesses and Bitcoin.
10.KuHaiBian
Q: Do you have any solution for mining centralization? What do you think about the hard fork of changing mining algorithms?
A: I have a lot of thoughts on mining centralization; it would probably take ten or twenty pages to write them all down.
I am much less worried about mining centralization than most of the other developers, because Satoshi designed Bitcoin so miners make the most profit when they do what is best for Bitcoin. I have also seen how quickly mining pools come and go; people were worried that the DeepBit mining pool would become too big, then it was GHash.io…
And if a centralized mining pool does become too big and does something bad, the simplest solution is for businesses or people to get together and create or fund a competitor. Some of the big Bitcoin exchanges have been seriously considering doing exactly that to support raising the block size limit, and that is exactly the way the system is supposed to work-- if you don’t like what the miners are doing, then compete with them!
I think changing the mining algorithm is a complicated solution to a simple problem, and is not necessary.
11. ChaLi
Q: Last time you came to China, you said you want to "make a different". I know that in USA the opposition political party often hold this concept, in order to prevent the other party being totally dominant. Bitcoin is born with a deep "make a different" nature inside. But in Chinese culture, it is often interpreted as split “just for the sake of splitting”, can you speak your mind on what is your meaning of "make a different"?
A: I started my career in Silicon Valley, where there is a lot of competition but also a lot of cooperation. The most successful companies find a way to be different than their competitors; it is not a coincidence that perhaps the most successful company in the world (Apple Computer) had the slogan “think different.”
As Bitcoin gets bigger (and I think we all agree we want Bitcoin to get bigger!) it is natural for it to split and specialize; we have already seen that happening, with lots of choices for different wallets, different exchanges, different mining chips, different mining pool software.
12. bluestar
Q: 1) The development of XT and Classic confirmed my thoughts that it is nearly impossible to use a new version of bitcoin to replace the current bitcoin Core controlled by Blockstream. I think we will have to live with the power of Blockstream for a sufficient long time. It means we will see the deployment of SegWit and Lighting network. If it really comes to that point, what will you do? Will you also leave like Mike Hearn?
A: 1) With the development of Blockchain, bitcoin will grow bigger and bigger without any doubts, And also there will be more and more companies related to the bitcoin network. When it comes to money, there will be a lot of fights between these companies. Is it possible to form some kind of committee to avoid harmful fights between these companies and also the situation that a single company controlling the direction of the bitcoin development? Is there any one doing this kind of job right now?
Q: 2) My final question would be, do you really think it is possible that we can have a decentralized currency? Learning from the history, it seems like every thing will become centralized as long as it involves human. Do you have any picture for a decentralized currency or even a society? Thanks.
A: 2) I think you might be surprised at what most people are running a year or three from now. Perhaps it will be a future version of Bitcoin Core, but I think there is a very good chance another project will be more successful.
I remember when “everybody” was running Internet Explorer or Firefox, and people thought Google was crazy to think that Chrome would ever be a popular web browser. It took four years for Chrome to become the most popular web browser.
In any case, I plan on working on Bitcoin related projects for at least another few years. Eventually it will become boring or I will decide I need to take a couple of years of and think about what I want to do next.
As for fights between companies: there are always fights between companies, in every technology. There are organizations like the IETF (Internet Engineering Task Force) that try to create committees so engineers at companies can spend more time cooperating and less time fighting; I’m told by people who participate in IETF meetings that they are usually helpful and create useful standards more often than not.
Finally, yes, I do think we can have a “decentralized-enough” currency. A currency that might be controlled at particular times by a small set of people or companies, but that gives everybody else the ability to take control if those people or businesses misbehave.
13. satoshi
Hi Gavin, I have some questions:
Q: 1) I noticed there are some new names added to the classic team list. Most people here only know you and Jeff. Can you briefly introduce some others to the Chinese community?
A: 1)
Tom Zander has been acting as lead developer, and is an experienced C++ developer who worked previously on the Qt and Debian open source projects.
Pedro Pinheiro is on loan from Blockchain.info, and has mostly worked on continuous integration and testing for Classic.
Jon Rumion joined recently, and has been working on things that will make life for developers more pleasant (I don’t want to be more specific, I don’t want to announce things before they are finished in case they don’t work out).
Jeff has been very busy starting up Bloq, so he hasn’t been very active with Classic recently. I’ve also been very busy traveling (Barbados, Idaho, London and a very quick trip to Beijing) so haven’t been writing much code recently.
Q: 2) if bitcoin classic succeeded (>75% threshold), what role would you play in the team after the 2MB upgrade finished, as a leader, a code contributor, a consultant, or something else?
A: 2)Contributor and consultant-- I am trying not to be leader of any software project right now, I want to leave that to other people who are better at managing and scheduling and recruiting and all of the other things that need to be done to lead a software project.
Q: 3) if bitcoin classic end up failed to achieve mainstream adoption (<75% 2018), will you continue the endeavor of encouraging on-chain scaling and garden-style growth of bitcoin?
A: 3) Yes. If BIP109 does not happen, I will still be pushing to get a good on-chain solution to happen as soon as possible.
Q: 4) Have you encountered any threat in your life, because people would think you obviously have many bitcoins, like what happened to Hal Finney (RIP), or because some people have different ideas about what bitcoin's future should be?
A: 4) No, I don’t think I have received any death threats. It upsets me that other people have.
Somebody did threaten to release my and my wife’s social security numbers and other identity information if I did not pay them some bitcoins a couple of years ago. I didn’t pay, they did release our information, and that has been a little inconvenient at times.
Q: 5) Roger Ver (Bitcoin Jesus) said bitcoin would worth thousands of dollars. Do you have similar thoughts? If not, what is your opinion on bitcoin price in future?
A: 5) I learned long ago to give up trying to predict the price of stocks, currencies, or Bitcoin. I think the price of Bitcoin will be higher in ten years, but I might be wrong.
Q: 6) You've been to China. What's your impression about the country, people, and the culture here? Thank you!
A: 6) I had a very quick trip to Beijing a few weeks ago-- not nearly long enough to get a good impression of the country or the culture.
I had just enough time to walk around a little bit one morning, past the Forbidden City and walk around Tianmen Square. There are a LOT of people in China, I think the line to go into the Chairman Mao Memorial Hall was the longest I have ever seen!
Beijing reminded me a little bit of London, with an interesting mix of the very old with the very new. The next time I am in China I hope I can spend at least a few weeks and see much more of the country; I like to be in a place long enough so that I really can start to understand the people and cultures.
14. Pussinboots
Q: Dear Gavin, How could I contact you, we have an excellent team and good plans. please confirm your linkedin.
A: Best contact for me is [email protected] : but I get lots of email, please excuse me if your messages get lost in the flood.
15. satoshi
Q: Gavin, you've been both core and classic code contributor. Are there any major differences between the two teams, concerning code testing (quality control) and the release process of new versions?
A: Testing and release processes are the same; a release candidate is created and tested, and once sufficiently tested, a final release is created, cryptographically signed by several developers, and then made available for download.
The development process for Classic will be a little bit different, with a ‘develop’ branch where code will be pulled more quickly and then either fixed or reverted based on how testing goes. The goal is to create a more developer-friendly process, with pull requests either accepted or rejected fairly quickly.
16. tan90d
I am a bitcoin enthusiast and a coin holder. I thank you for your great contribution to bitcoin. Please allow me to state some of my views before asking:
  1. I'm on board with classic
  2. I support the vision to make bitcoin a powerful currency that could compete with Visa
  3. I support segwit, so I'll endorse whichever version of bitcoin implementation that upgrades to segwit, regardless of block size.
  4. I disagree with those who argue bitcoin main blockchain should be a settlement network with small blocks. My view is that on the main chain btc should function properly as a currency, as well as a network for settlement.
  5. I'm against the deployment of LN on top of small block sized blockchain. Rather, it should be built on a chain with bigger blocks.
  6. I also won’t agree with the deployment of many sidechains on top of small size block chain. Rather, those sidechains should be on chain with bigger blocks.
With that said, below are my questions:
Q: 1) If bitcoin is developed following core's vision, and after the 2020 halving which cuts block reward down to 6.125BTC, do you think the block transaction fee at that time will exceed 3BTC?
A: 1) If the block limit is not raised, then no, I don’t think transaction fees will be that high.
Q: 2) If bitcoin is developed following classic's vision, and after the 2020 halving which cuts block reward down to 6.125BTC, do you think the block transaction fee at that time will exceed 3BTC?
A: 2) Yes, the vision is lots of transactions, each paying a very small fee, adding up to a big total for the miners.
Q: 3) If bitcoin is developed following core's vision, do you think POW would fail in future, because the mining industry might be accounted too low value compared with that of the bitcoin total market, so that big miners could threaten btc market and gain profit by shorting?
*The questioner further explained his concern.
Currently, its about ~1.1 billion CNY worth of mining facilities protecting ~42 billion CNY worth (6.5 Billion USD) of bitcoin market. The ratio is ~3%. If bitcoin market cap continues to grow and we adopt layered development plan, the mining portion may decrease, pushing the ratio go even down to <1%, meaning we are using very small money protecting an huge expensive system. For example, in 2020 if bitcoin market cap is ~100 billion CNY, someone may attempt to spend ~1 billion CNY bribe/manipulate miners to attack the network, thus making a great fortune by shorting bitcoin and destroying the ecosystem.
A: 3) Very good question, I have asked that myself. I have asked people if they know if there have been other cases where people destroyed a company or a market to make money by shorting it -- as far as I know, that does not happen. Maybe because it is impossible to take a large short position and remain anonymous, so even if you were successful, you would be arrested for doing whatever you did to destroy the company or market (e.g. blow up a factory to destroy a company, or double-spend fraud to try to destroy Bitcoin).
Q: 4) If bitcoin is developed following classic's vision, will the blocks become too big that kill decentralization?
A: 4) No, if you look at how many transactions the typical Internet connection can support, and how many transactions even a smart phone can validate per second, we can support many more transactions today with the hardware and network connections we have now.
And hardware and network connections are getting faster all the time.
Q: 5) In theory, even if we scale bitcoin with just LN and sidechains, the main chain still needs blocks with size over 100M, in order to process the trading volume matching Visa's network. So does core have any on-chain scaling plan other than 2MB? Or Core does not plan to evolve bitcoin into something capable of challenging visa?
A: 5) Some of the Core developer talk about a “flexcap” solution to the block size limit, but there is no specific proposal.
I think it would be best to eliminate the limit all together. That sounds crazy, but the most successful Internet protocols have no hard upper limits (there is no hard limit to how large a web page may be, for example), and no protocol limit is true to Satoshi’s original design.
Q: 6) If (the majority of) hash rate managed to switch to Classic in 2018, will the bitcoin community witness the deployment of LN in two years (~2018)?
A: 6) The bottleneck with Lightning Network will be wallet support, not support down at the Bitcoin protocol level. So I don’t think the deployment schedule of LN will be affected much whether Classic is adopted or not.
Q: 7) If (majority) hash rate upgraded to blocks with segwit features in 2017 as specified in core's roadmap, would classic propose plans to work on top of that (blocks with segwit)? Or insist developing simplified segwit blocks as described in classic's roadmap?
A: 7) Classic will follow majority hash rate. It doesn’t make sense to do anything else.
Q: 8) If most hash rate is still on core's side before 2018, will you be disappointed with bitcoin, and announce that bitcoin has failed like what Mike did, and sell all your stashed coins at some acceptable price?
A: 8) No-- I have said that I think if the block size limit takes longer to resolve, that is bad for Bitcoin in the short term, but smart engineers will work around whatever road blocks you put in front of them. I see Bitcoin as a long-term project.
Q: 9) If we have most hash rate switched to classic's side before 2018, what do you think will be the fate of Blockstream company?
A: 9) I think Blockstream might lose some employees, but otherwise I don’t think it will matter much. They are still producing interesting technology that might become a successful business.
Q: 10) If we have most hash rate still on core's side before 2018, what do you think will be the fate of Blockstream company?
A: 10) I don’t think Blockstream’s fate depends on whether or not BIP109 is adopted. It depends much more on whether or not they find customers willing to pay for the technology that they are developing.
Q: 11) If we have most hash rate still on core's side before 2018, what do you think will be the fate of companies that support classic, such as Coinbse, bitpay, and Blockchain.info?
A: 11) We have already seen companies like Kraken support alternative currencies (Kraken supports Litecoin and Ether); if there is no on-chain scaling solution accepted by the network, I think we will see more companies “hedging their bets” by supporting other currencies that have a simpler road map for supporting more transactions.
Q: 12) If we have most hash rate switched to classic's side before 2018, will that hinder the development of sidechain tech? What will happen to companies like Rockroot(Rootstock?) ?
A: 12) No, I think the best use of sidechains is for things that might be too risky for the main network (like Rootstock) or are narrowly focused on a small number of Bitcoin users. I don’t think hash rate supporting Classic will have any effect on that.
Q: 13) Between the two versions of bitcoin client, which one is more conducive to mining industry, classic or core?
A: 13) I have been working to make Classic better for the mining industry, but right now they are almost identical so it would be dishonest to say one is significantly better than the other.
17. Alfred
Q: Gavin, can you describe what was in your mind when you first learned bitcoin?
A: I was skeptical that it could actually work! I had to read everything I could about it, and then read the source code before I started to think that maybe it could actually be successful and was not a scam.
submitted by kcbitcoin to Bitcoin [link] [comments]

Andreas Antonopoulos Interview - Bitcoin's 3rd Halving, Scalability & Adoption - BTC PoS - ETH & XRP Bitcoin presentation with Andreas Antonopoulos at University of Piraeus (21 Dec 2016) What is Bitcoin? An Introduction to Bitcoin - Bitcoin Explained by Andreas M. Antonopoulos 2016 Bitcoin Predictions - Bloomberg Markets Crypto Blood x Andreas Antonopoulos Talk A Decade of Bitcoin  Central Bank Issued Cryptos & More!

In a brand new section of “Down the Rabbit Hole”, Andreas Antonopoulos, a Bitcoin evangelist and influencer with greater than Antonopoulo's The Internet of Money Vol. 2. Andreas M Antonopoulos, Greek-British Bitcoin advocate, technologist and serial entrepreneur and author of The Internet of Money Volume 1 (2016) released a sequel to the bestselling, engaging and informative conversations on Bitcoin and cryptocurrency. The Internet of Money Volume 2 was published in November 2017. Andreas Antonopoulos surprised a crowd at a Berlin Bitcoin conference last week by claiming that, by the end of this year, Bitcoin’s consensus algorithm will be totally changed. Also read: BitcoinAverage Report: Bitcoin Price Hits 2016 High. Antonopoulos: Bitcoin Will Become a ‘Hybrid’ Welcome to the show, everyone. It’s the Krypto Lark I’m very, very excited to have on the show today. Andre is Antonopoulos. He’s Bitcoin educator, tech entrepreneur, host of the most educational YouTube channel related to Bitcoin and podcast as well. So and is an author of many, many fantastic books, including The Internet of Money, which is why my personal favorites I’d pick it up ... An unregulated means by which funds are raised for a new cryptocurrency venture. An Initial Coin Offering (ICO) is used by startups to bypass the rigorous and regulated capital-raising process required by venture capitalists or banks.

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Andreas Antonopoulos Interview - Bitcoin's 3rd Halving, Scalability & Adoption - BTC PoS - ETH & XRP

Andreas Antonopoulos is a Bitcoin advocate, author, educator and speaker. ... Dollar Crash Prediction - When & How it will happen according to Billionaire Ray Dalio - Duration: 12:07. Andreas M. Antonopoulos is a technologist and serial entrepreneur who has become one of the most well-known and well-respected figures in bitcoin. He is the author of “Mastering Bitcoin ... A really amazing performance by Andreas Antonopoulos in front of Italian bankers, consultants and other financial people participating at Deloitte's conference dedicated to "blockchains". In ... Crypto Blood x Andreas Antonopoulos Talk A Decade of Bitcoin Central Bank Issued Cryptos, Why We Can't Force People to Choose Bitcoin, Government Censorship and More! Andreas Antonopoulos is a ... In this episode, I talk with the man the legend Mr Andreas M. Antonopoulos. We talk about his influences, how the aggregate decisions of humans lead to adver...

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