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Gmaxwell's wiki debacle is the exact same disruption he is causing in Bitcoin .........and now litecoin.

Gmaxwell's wiki debacle is the exact same disruption he is causing in Bitcoin .........and now litecoin. submitted by haroldtimmings to litecoin [link] [comments]

freenode/

freenode.net
[13:47:03] The guide is divided into sections, each with a specific section of activity and a cause for why I should work on that area.
[13:47:03] Those are still facts
[13:47:08] So there is still a little more work to do.
[13:47:15] I need to add all the pages to the wiki.
[13:47:18] After that, I'll start putting more resources up, including some images and if I'm doing it right, some story sections.
[13:47
freenode/ip.92.189.211.175) has joined #/cicada3302
[17:37] O_O
[17:37] damnit
[17:37] dude who's running said server?
[17:37] anyone?
[17:37] I'm at work... http://www.reddit.com/cicada3302/comments/1s3wwz/found_the_code_has_been_decoded_everything_is/cdtr0oa
[17:38]
freenode/ip.50.212.6.250) has joined #bitcoin24
ekdudez: your p2pool network is really part of your bitcoin.dat (A link to your wallet can be found here: https://www.reddit.com/bitcoin/comments/2pq3nx/live_updates_on_the_relay_problem/).
* LQbot (~[email protected]) Quit (Ping timeout: 192 seconds)
ekdudez: your node is NOT part of the bitcoin.dat file, and if it were it wouldn't have a
freenode/ip.39.149.160.167) has joined #/cicada3302
[21:18] or uh, scribe great, wtf?
[21:18] He's come into this room, perhaps from the dark house? So we should return the greeting?
[21:18] (We can't go there. I don't think. He's been there before, but on a cloudy day.)
[21:18] <@shecalledmepaul> no it's been such a while since youve heard anything that I don't think you'll remember
[21:18] <@shecalledmepaul
freenode/ip.54.232.161.153) Quit (Ping timeout: 245 seconds)
[10:47] how about talk about the XP drop rate in general?
[10:47] also
[10:47] <@dine909> wait wtf
[10:47] <@dine909> X is 75%
[10:47] <@dine909> of XP
[10:47] i think you have to have very high level to get 95% in dungeons
[10:47] <@dine909> yeah i guess
[10:48] but yeah
[10:48] maybe it has something
freenode/ip.68.56.156.96] has joined #/cicada3302
[01:45] and yes, we have /vaspool/cicada3302/daemon/rules also. anything is possible, we know that
[01:45] not everything though
[01:45] well, some of the entries do not exist
[01:45] So this new detective in the thread goes by "ricardo75"?
[01:46] Hi everyone, I am new here, but I'm quite convinced that whoever made this 2.
submitted by ObsidianMinor to talktotransformer [link] [comments]

Extremely fast banning on r/Bitcoin for giving bitcoin.com wallet a try.

Extremely fast banning on Bitcoin for giving bitcoin.com wallet a try. submitted by SuckMyArsenCock to btc [link] [comments]

Long live decentralized bitcoin(!) A reading list

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

Summary / The fundamental tradeoff

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

Scaling on-chain will destroy bitcoin's decentralization

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

Full blocks are not a disaster

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

Segwit

What is segwit

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

Why is segwit being blocked

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

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

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

What if segwit never activates

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

Lightning

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

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

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

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

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

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

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

BU is bugged, poorly-reviewed and crashes

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

Bitcoin Unlimited Remote Exploit Crash 14/3/2017

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

User Activated Soft Fork (UASF)

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

Fighting off 2x HF

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

Misinformation / sockpuppets

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

History

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

Misc (mostly memes)

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

How have fungiblity problems affected you in Bitcoin?

Privacy and fungiblity are essential components for any money-like system. Without them, your transactions leak information about your private activities and leave you at risk of discriminatory treatment. Without them your security is reduced due to selective targeting and your commercial negotiations can be undermined.
They're important and were consideration's in Bitcoin's design since day one. But Bitcoin's initial approach to preserving privacy and fungiblity -- pseudonymous addresses-- is limited, and full exploitation of it requires less convenient usage patterns that have fallen out of favor.
There are many technologies people have been working on to improve fungiblity and privacy in different ways-- coinjoins and swaps, confidential transactions, encrypted/committed transactions, schnorr multisignature, MAST, better wallet input selection logic, private wallet scanning, tools for address reuse avoidance, P2P encryption, ECDH-derived addresses, P2P surveillance resistance, to name a few.
Having some more in-the-field examples will help prioritize these efforts. So I'm asking here for more examples of where privacy and fungiblity loss have hurt Bitcoin users or just discouraged Bitcoin use-- and, if known, the specifics about how those situations came about.
Please feel free to provide links to other people's examples too, and also feel free to contact me privately ( [email protected] GPG: 0xAC859362B0413BFA ).
submitted by nullc to Bitcoin [link] [comments]

Gregory Maxwell: I didn't look to see how Bitcoin worked because I had already proven it (strong decentralized consensus) to be impossible.

And then the same idiot entered Bitcoin development and said it's impossible to scale the way Satoshi wanted it to.
http://diyhpl.us/wiki/transcripts/gmaxwell-bitcoin-selection-cryptography/
My position was that decentralized consensus was impossible. I presented this wanky sort of physically-oriented argument about why, in the broad sense, a system with no admissions control could not achieve guaranteed decentralized consensus.
I didn't look to see how Bitcoin worked because I had already proven it (strong decentralized consensus) to be impossible. I downloaded it but didn't look into it.
submitted by Gregory_Maxwell to btc [link] [comments]

Greg Maxwell: A Deep Dive Into Bitcoin Core 0.15

Greg Maxwell: A Deep Dive Into Bitcoin Core 0.15 submitted by f00000000 to CryptocurrencySA [link] [comments]

A Look at DCG & Bitfury's Incestuous Ties With the U.S. Government

Peter Todd Tweet in 2014: https://archive.is/vKZ9C
[email protected] I gotta say, looks really bad legally how Austin Hill's been negotiating deals w/ pools/etc. to get control of hashing power.
Board of Digital Currency Group
Glenn Hutchins
Advisory Board
Larry Summers
DCG of course is an investor in both Blockstream and BTCC.
DCG's money comes from:
DCG also owns Coindesk.
BTCC and Bitfury are the only two large mining pools who are outspoken in their support of Bitcoin Core.
The Bitfury Group Leadership to Present at Clinton Global Initiative (https://archive.is/MWKee)
Full Video (Begins at 32:00)
“The Bitfury Group is proud to be the world’s leading full service Blockchain technology company, we are deeply honored to represent this innovation to an audience of extremely dedicated game-changers, and we look forward to highlighting our company’s groundbreaking ‘Blockchain for global good’ work at such an important event, said Smith. “From the White House to the Blockchain, I know this technology has the power to deliver inclusion and opportunity to millions, if not billions, of people around the world and I am so grateful to work for a company focused on such a principled vision.”
Bitfury Lightning Implementation
  • In partnership with a French firm called ACINQ (http://acinq.co)
  • ACINQ is a subsidiary of the larger ACINQ Financial Services
  • CoinTelegraph: Bitfury Lightning Network Successfully Tested With French Bitcoin Company
  • TEAM: https://archive.is/Q5CNU
  • ACINQ’s US Headquarters is in Vienna, Virginia, a small town of only 16,000. Why would a global financial firm choose to locate here? -- Feeder community into Washington, D.C. Has an orange line metro stop. -- Located in Fairfax County, VA. -- The US Federal Government is the #2 largest employer -- Booz Allen Hamilton (NSA front company) is #6 largest employer -- In fact, most of the top employers in Fairfax County are either US Federal Gov’t or companies that provide services to Federal Government -- The county is home to the headquarters of intelligence agencies such as the Central Intelligence Agency, National Geospatial-Intelligence Agency, and National Reconnaissance Office, as well as the National Counterterrorism Center and Office of the Director of National Intelligence.
Chairman: Avinash Vashistha
CEO: Chaman Baid
CSO: Nandan Setlur
  • https://www.linkedin.com/in/nandansetlur https://archive.is/wp3L0
  • From 1986-1993 he worked for Information Management Consultants (imc) Ltd as a Technical Consultant with various federal government agencies. McLean, Virginia
  • 1993-2000 Technical Consultant for Freddie Mac, in McLean Virginia
  • From 2000-2007, President of InterPro Global in Maryland
  • From 2011-2012, Director of VibbleTV in Columbia, Maryland
  • From 2008-Present has been Executive Director at ACINQ and Managing Partner at Vine Management, both in Vienna, Virginia.
BitFury Enhances Its Advisory Board by Adding Former CFTC Chairman Dr. James Newsome and Renowned Global Thought Leader and President of the Institute for Liberty and Democracy Hernando de Soto (Businesswire)
Bitfury Board of Directors
Robert R Dykes
The other board members include two Bitfury founders, and an investor.
Bitfury Advisory Board
James Newsome
  • Ex-chairman of CFTC
  • Dr. Newsome was nominated by President Clinton and confirmed by the Senate to be at first a Commissioner and later a Chairman of CFTC. As Chairman, Newsome guided the regulation of the nation’s futures markets. Additionally, Newsome led the CFTC’s regulatory implementation of the Commodity Futures Modernization Act of 2000 (CFMA). He also served as one of four members of the President’s Working Group for Financial Markets, along with the Secretary of the Treasury and the Chairmen of the Federal Reserve and the SEC. In 2004, Newsome assumed the role of President and Chief Executive Officer of the New York Mercantile Exchange (NYMEX) where he managed daily operations of the largest physical derivatives exchange in the world. Dr. Newsome is presently a founding partner of Delta Strategy Group, a full-service government affairs firm based in Washington, DC.
Hernando de Soto
  • Hernando de Soto heads the Institute for Liberty and Democracy, named by The Economist one of the two most important think tanks in the world. In the last 30 years, he and his colleagues at the ILD have been involved in designing and implementing legal reform programs to empower the poor in Africa, Asia, Latin America, the Middle East, and former Soviet nations by granting them access to the same property and business rights that the majority of people in developed countries have through the institutions and tools needed to exercise those rights and freedoms. Mr. de Soto also co-chaired with former US Secretary of State Madeleine Albright the Commission on Legal Empowerment of the Poor, and currently serves as honorary co-chair on various boards and organizations, including the World Justice Project. He is the author of “The Other Path: the Economic Answer to Terrorism”, and his seminal work “The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else.”
  • Frequent attendee at Davos World Economic Forum
  • Frequent Speaker @ Clinton Global Initiative http://www.dailymotion.com/video/x2ytfrs https://archive.is/MWKee
  • Criticisms: -- In his 'Planet of Slums'[104] Mike Davis argues that de Soto, who Davis calls 'the global guru of neo-liberal populism', is essentially promoting what the statist left in South America and India has always promoted—individual land titling. Davis argues that titling is the incorporation into the formal economy of cities, which benefits more wealthy squatters but is disastrous for poorer squatters, and especially tenants who simply cannot afford incorporation into the fully commodified formal economy. -- An article by Madeleine Bunting for The Guardian (UK) claimed that de Soto's suggestions would in some circumstances cause more harm than benefit, and referred to The Mystery of Capital as "an elaborate smokescreen" used to obscure the issue of the power of the globalized elite. She cited de Soto's employment history as evidence of his bias in favor of the powerful. https://www.theguardian.com/business/2000/sep/11/imf.comment http://www.slate.com/articles/news_and_politics/hey_wait_a_minute/2005/01/the_de_soto_delusion.html
Tomicah Tilleman
  • https://en.wikipedia.org/wiki/Tomicah_Tillemann
  • Dr. Tomicah Tillemann is Director of the Bretton Woods II initiative. The initiative brings together a variety of long-term investors, with the goal of committing 1% of their assets to social impact investment and using investments as leverage to encourage global good governance. Tillemann served at the U.S. State Department in 2010 as the Senior Advisor on Civil Society and Emerging Democracies to Secretary Hillary Clinton and Secretary John Kerry. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Tillemann received his B.A. magna cum laude from Yale University. He holds a Ph.D. with distinction from the School for Advanced International Studies at Johns Hopkins University (SAIS) where he also served as a graduate level instructor in American foreign policy. http://live.worldbank.org/node/8468 https://archive.is/raDHA
  • Secretary Clinton appointed Tomicah Tillemann, Ph.D. as the State Department’s Senior Advisor for Civil Society and Emerging Democracies in October 2010. He continues his service under Secretary Kerry.
  • Mr. Tillemann and his team operate like venture capitalists, identifying ideas that can strengthen new democracies and civil society, and then bring together the talent, technology and resources needed to translate promising concepts into successful diplomacy. He and his team have developed over 20 major initiatives on behalf of the President and Secretary of State.
  • Mr. Tillemann came to the State Department as a speechwriter to Secretary Clinton in March 2009 and collaborated with her on over 200 speeches. Earlier, he worked for the Senate Foreign Relations Committee, where he was the principal policy advisor on Europe and Eurasia to Committee Chairmen, Senators Joe Biden and John Kerry. He also facilitated the work of the Senate's Subcommittee on European Affairs, then chaired by Senator Barack Obama. Mr. Tillemann’s other professional experience includes work with the White House Office of Media Affairs and five U.S. Senate and Congressional campaigns. He was a reporter with Reuters New Media and hosted a commercial radio program in Denver, Colorado. http://m.state.gov/md160354.htm https://www.newamerica.org/our-people/tomicah-tillemann/ https://archive.is/u2yF0
  • Director of “Bretton Woods II” initiative at New America Foundation Bretton Woods was an international summit that led to the creation of the IMF and the IBRD, one of five members of The World Bank
Jamie Smith
Jason Weinstein
Paul Brody (no longer appears on site, and his LinkedIn has no mention of Bitfury, but he is mentioned in a Press Release
  • https://www.linkedin.com/in/pbrody
  • Ernst & Young since 2015 as “Americas Strategy Leader”, “Global Innovation Leader”, and “Solution Leader”
  • Prior to E&Y, he was an executive at IBM since 2002
New America Foundation
Muskoka Group
[note: this is worthy of much more research]
  • https://www.bloomberg.com/news/articles/2016-08-29/blockchain-s-backers-embark-on-campaign-to-improve-its-image
  • Don Tapscott, co-author of the book “Blockchain Revolution,” hosted the meeting with his son and co-author Alex Tapscott at his family’s summer compound in Lake of Bays, Ontario. The group included some of blockchain’s biggest backers, including people with ties to IBM and JPMorgan. They considered ways to improve the governance and oversight of the technology behind the digital currency bitcoin as a way to fuel the industry’s growth. They included Jim Zemlin, executive director of the Linux Foundation; Brian Behlendorf, executive director of the Hyperledger Project, a blockchain supporter group that includes International Business Machines Corp., Airbus Group SE and JPMorgan Chase & Co.; and Ana Lopes, board member of the World Wide Web Foundation. Participants with blockchain industry ties include former deputy White House press secretary Jamie Smith, now chief global communications officer of BitFury Group Ltd., and Joseph Lubin, founder of startup Consensus Systems.
Blockchain Delegation Attends Democratic National Convention https://archive.is/k16Nu
Attendees:
Jamie Smith — The Bitfury Group & Blockchain Trust Accelerator Tomicah Tillemann— New America Foundation & Blockchain Trust Accelerator Alex Tapscott— co-author: Blockchain Revolution Brian Forde — MIT, Digital Currency Initiative
Brian Forde
  • Was the founding director of the MIT Digital Currency Initiative -Left his 4 year post as White House Senior Advisor for Mobile and Data Innovation to go directly to the MIT DCI
  • Brian Forde has spent more than a decade at the nexus of technology, entrepreneurship, and public policy. He is currently the Director of Digital Currency at the MIT Media Lab where he leads efforts to mainstream digital currencies like Bitcoin through research, and incubation of high-impact applications of the emerging technology. Most recently he was the Senior Advisor for Mobile and Data Innovation at the White House where he spearheaded efforts to leverage emerging technologies to address the President’s most critical national priorities. Prior to his work at the White House, Brian founded one of the largest phone companies in Nicaragua after serving as a business and technology volunteer in the Peace Corps. In recognition of his work, Brian was named a Young Global Leader by the World Economic Forum and one of the ten most influential people in bitcoin and blockchain. https://www.linkedin.com/in/brianforde https://archive.is/WjEGU
Alex Tapscott
World Economic Forum
  • Strategic Partners: https://www.weforum.org/about/strategic-partners
  • Includes Accenture (See Avinash Vashistha), Allianz, Deloitte (Scaling Bitcoin platinum sponsor, Blockstream Partner), Citigroup, Bain & Company (parent of Bain Capital, DCG investor), Dalian Wanda Group (working on blockchain technology), Ernst & Young (see Paul Brody), HSBC (Li-Ka Shing, Blockstream investor, used to be Deputy Chairman of HSBC), IBM, KPMG International, Mastercard (DCG Investor), PwC (Blockstream partner, also sponsor of Scaling Bitcoin)
  • Future of Financial Services Report [PDF] The word “blockchain” is mentioned once in this document, on page 23 (http://i.imgur.com/1SxyneJ.png): We have identified three major challenge areas related to innovation in financial services that will require multi-stakeholder collaboration to be addressed effectively. We are launching a project stream related to each area, with the goal of enabling tangible impact.... Decentralised systems, such as the blockchain protocol, threaten to disintermediate almost every process in financial services
  • The Steering Group who authored the report is a who’s who of the global financial elite. (Pages 4 & 5) http://i.imgur.com/fmYc1bO.png http://i.imgur.com/331FaX6.png
Bitfury Washington DC Office
Washington DC Office 600 Pennsylvania Avenue Suite 300 Washington, D.C. 20003
http://bitfury.com/contacts https://archive.is/ugvII
Bitfury Chosen for Ernst & Young Blockchain Startup Challenge
Deloitte Unveils Plan to Build Blockchain-Based Digital Bank http://www.consultancy.uk/news/12237/deloitte-unveils-plan-to-build-blockchain-based-digital-bank https://archive.is/UJ8Q5
submitted by 5zh8FoCiZ to btc [link] [comments]

Bitcoin dev IRC meeting in layman's terms (2015-11-12)

Once again my attempt to summarize and explain the weekly bitcoin developer meeting in layman's terms. Link to last weeks summarization Note that I crosspost this to Voat, bitcoin.com and the bitcoin-discuss mailing list every week. I can't control what's being talking about in the meeting, if certain things come up I might not be able to post here because of "guidelines".
Disclaimer
Please bear in mind I'm not a developer and I'd have problems coding "hello world!", so some things might be incorrect or plain wrong. Like any other write-up it likely contains personal biases, although I try to stay as neutral as I can. There are no decisions being made in these meetings, so if I say "everyone agrees" this means everyone present in the meeting, that's not consensus, but since a fair amount of devs are present it's a good representation. The dev IRC and mailinglist are for bitcoin development purposes. If you have not contributed actual code to a bitcoin-implementation, this is probably not the place you want to reach out to. There are many places to discuss things that the developers read, including this sub-reddit.
link to this week logs Meeting minutes by meetbot
Main topics discussed where:
transaction priority for 0.12 Opt-in replace-by-fee Versionbits Chain limits
transaction priority for 0.12
Each transaction is assigned a priority, determined by the age, size, and number of inputs. Which currently makes some transactions free. This currently has a large amount of code, which makes it harder to maintain, and is not that optimal since you can't expect miners to include 0-fee transactions.
Most people seem fine with removing priority in the mempool, but people should be notified ahead of time this is coming. sdaftuar proposed a staggered approach, setting the default value for priority to 0, and remove it entirely in the next release. petertodd notes there will be a natural staggered process since not everyone will upgrade to 0.12 instantly and some implementations might not remove priority at all. Most wallet-software outside of bitcoin-core don't implement priority calculations. As fee estimation becomes more important and many wallet providers use the bitcoin-core fee estimation, improvements on that are welcome. Luke-Jr doesn't agree with removing priority, particularly with changing the mining code to use the priority a transaction has when it enters the mempool. Sipa has the idea to add a small fraction of bitcoin days destroyed divided by the average UTXO age to the fee, so that non-spam-attack transactions are viewed as if they have a larger fee.
While most agree with the proposal to remove the current priority, there's still much debate on whether it needs to be replaced for 0.13, and if so, how.
Review "Improve usage of fee estimation code" BlueMatt will mail the developer mailinglist announcing the changes. ( https://www.mail-archive.com/[email protected]/msg02790.html )
Opt-in replace-by-fee
Currently when a node sees a transaction that spends the same output it ignores it. With replace-by-fee it replaces the current transaction in the mempool if it has a higher fee. This allows for things like spending "stuck" transactions, adding more recipients to a transaction in order to prevent chaining, etc.
Since there are people that accept 0-confirmation transactions and this would make it extremely easy to double spend them, this is made opt-in. The sender can choose to opt-in to replace-by-fee by changing an input in the nSequence field.
Peter Todd wrote some tools to use replace-by-fee. link It would be nice to have opt-in per output instead of the whole transaction, however that would be very hard to implement and would have some privacy concerns. Luke-Jr would like to see an option to toggle between first-seen-safe/full RBF and neveopt-in/always. Since there are possibly some objections with the "always" toggle it should be a separate pull-request.
review and merge nSequence-based Full-RBF opt-in Peter Todd will write a mail to the list to explain how it works and how people can not accept opt-in transactions.
Versionbits
BIP 9 Currently softforks have been done by the isSuperMajority mechanism, meaning when 95% of the last X blocks has a version number higher than Y the fork is deployed. A new way of doing this is currently being worked on and that uses all bits of the version number, appropriately being called versionbits. So instead of a fork happening when the version is larger than (for example) 00000000011 (3), a fork happens when (for example) the 3rd bit is up (so 00100000011). This way softforks can be deployed simultaneous and independent of each other.
There are 2 different implementations. One from Codeshark and one from Rusty jtimon thinks both implementations are more complicated than they need to be. There needs to be a minor revision namely a starting time for proposals. In general we'd like to get this in soon, but existing softforks need to complete first.
CodeShark adds a starting time to versionbits.
Chain limits
Chain in this context means connected transactions. When you send a transaction that depends on another transaction that has yet to be confirmed we talk about a chain of transactions. Miners ideally take the whole chain into account instead of just every single transaction (although that's not widely implemented afaik). So while a single transaction might not have a sufficient fee, a depending transaction could have a high enough fee to make it worthwhile to mine both. This is commonly known as child-pays-for-parent. Since you can make these chains very big it's possible to clog up the mempool this way. With the recent malleability attacks, anyone who made transactions going multiple layers deep would've already encountered huge problems doing this (beautifully explained in let's talk bitcoin #258 from 13:50 onwards) Proposal and github link.
Wumpus doesn't feel comfortable with merging it because there's some controversy from companies who exceed the limits (or could be/want to). jgarzik does feel comfortable with it, and many think it should be merged as it's easy to revert if needed. There's little choice as it's not safe from attacks without limits. We should communicate the replace-by-fee sendmany alternative to long chains (adding new recipients on existing non-confirmed transactions), although it won't show up in users wallet yet and block-explorers probably aren't ready to display it correctly. Emphasis on the fact it's a change in default values, not a consensus change, however default values have a lot of power. The final limits are 25 transactions and 101kb total size for both ancestor and descendant packages.
jgarzik will merge the pull-request. Morcos will mail the list once it's merged.
Participants
BlueMatt Matt Corallo petertodd Peter Todd morcos Alex Morcos jgarzik Jeff Garzik gmaxwell Gregory Maxwell wumpus Wladimir J. van der Laan Luke-Jr Luke Dashjr jtimon Jorge Timón btcdrak btcdrak phantomcircuit Patrick Strateman sipa Pieter Wuille CodeShark Eric Lombrozo sdaftuar Suhas Daftuar jg_taxi jg_taxi gavinandresen Gavin Andresen cfields Cory Fields bsm1175321 Bob McElrath 
Comic relief
19:53 sipa new topic? 19:53 wumpus any other topics? 19:53 petertodd  19:53 jgarzik did we cover jonas while I was in the taxi? 19:54 sdaftuar ? 19:54 jtimon ? 19:54 CodeShark not sure I want to know 19:54 jgarzik proposal for new GUI maintainer 19:54 CodeShark sounds kinky, though 19:54 petertodd CodeShark: GUI's are pretty kinky 19:56 BlueMatt ok, end meeting? 19:56 btcdrak if we can remember the command this week :-) 19:56 wumpus #meetingend 19:56 gmaxwell #destroymeeting 19:56 wumpus #endmeeting 19:56 Luke-Jr #endmeeting 19:56 lightningbot Meeting ended Thu Nov 12 19:56:42 2015 UTC. Information about MeetBot at http://wiki.debian.org/MeetBot . (v 0.1.4) 19:56 BlueMatt #magicmeetbotincantation 19:57 petertodd #DoWhatIMean 
submitted by G1lius to Bitcoin [link] [comments]

Please Protect Consumers by Using Stealth Addressing

It's recently been brought to attention that various companies have been heavy handed in their restrictions of how one may spend their purchased coins. I'm writing this up so that people can have a basic understanding of stealth addressing and how it works. If you'd like more details on the cryptography behind stealth addresses, please refer yourself to 13.4.3 of Wiley's Understanding Bitcoin: Cryptography, Engineering and Economics.
A stealth address looks like this: vJmwY32eS5VDC2C4GaZyXt7i4iCjzSMZ1XSd6KbkA7QbGE492akT2eZZMjCwWDqKRSYhnSA8Bgp78KeAYFVCi8ke5mELdoYMBNep7L
When you send funds to a stealth address, you create a data containing (OP_RETURN) output and a normal output to a one-time use Bitcoin address. The latter output contains the money you actually wish to send, while the former output contains some data which looks, to observers of the blockchain, like a bunch of indecipherable garbage.
Here's an example:
Tx hash 6ea5c6f1a97f382f87523d13ef9f2ef17b828607107efdbba42a80b8a6555356 https://blockchain.info/tx/6ea5c6f1a97f382f87523d13ef9f2ef17b828607107efdbba42a80b8a6555356
So, when you send money from Bob to Alice using a stealth address, what's basically going on from a privacy perspective?
To everyone else observing, it's impossible to tell that Alice was sent money. The only thing that they can tell is that Bob sent money to a stealth output, and that's if Bob himself didn't receive his funds as the result of stealth output and his address is somehow already known.
Using stealth addresses, it will be impossible for someone to tell where your money is being sent. The only thing obviously visible is the amount sent. In the future, a Bitcoin sidechain, such as that proposed by andytoshi and gmaxwell, may have mandatory stealth addressing as found in altcoins such as Monero; however, the technology is currently available for use in Bitcoin using simple OP_RETURN scripts.
There is a downside to this technology: to receive coins, you need to scan every incoming Bitcoin transaction to see if it might have an output belonging to you. However, I'm sure if you care about the privacy of your customers and their ability to be able to send funds to you in the future, the benefits more than outweigh the costs!
Current software/clients supporting stealth transactions include:
Hopefully, more soon!
Additional, for free references if you don't want have access to the Wiley book:
https://wiki.unsystem.net/en/index.php/DarkWallet/Stealth
http://sx.dyne.org/stealth.html
submitted by therealtacotime to Bitcoin [link] [comments]

Gregory Maxwell /u/nullc has evidently never heard of terms like "the 1%", "TPTB", "oligarchy", or "plutocracy", revealing a childlike naïveté when he says: "‘Majority sets the rules regardless of what some minority thinks’ is the governing principle behind the fiats of major democracies."

UPDATE: This post was inspired by a similar previous post which also has lots of great points, but the current post has a slightly different focus because:
(1) This post assumes ignorance (not dishonesty) on the part of nullc.
(2) This post basically gives a list of a bunch of sources on Wikipedia talking about oligarchy and plutocracy, as a starting point for anyone interested in this stuff.
Gregory Maxwell nullc has repeatedly shown that he has a very weak grasp of the political and economic realities shaping our world today.
He should not be (actually nobody should be) in charge of setting major economic policies and parameters (eg money velocity aka "max blocksize") for the most important non-state-based currency in the history of humanity (Bitcoin).
Are serious investors and businesspeople going to believe in a new currency whose economic parameters (eg money velocity aka "max blocksize") are centrally planned by a private for-profit corporation Blockstream whose CTO and CEO (Gregory Maxwell nullc and Adam Back adam3us) have repeatedly shown that they are totally clueless when it comes to markets and economics?
I don't even know where to begin to school this guy on the reality of politics and economics in the world today. It would take literally years of reading up on events in the mainstream media and online in order for him to get familiar enough with this stuff to stop blurting out ridiculously ignorant statements like:
"Majority sets the rules regardless of what some minority thinks" is the governing principle behind the fiats of major democracies.
https://np.reddit.com/Bitcoin/comments/44meru/why_would_miners_go_against_their_own_interests/czrgb0d
https://np.reddit.com/btc/comments/44p5tk/does_the_community_believe_that_gmaxwell_is_being/
Maybe the Wikipedia articles on "Oligarchy" or "Plutocracy" would be a good place for him to start reading up, so he can avoid making such ignorant public pronouncements in the future.
Meanwhile, it is obvious that this guy should not be in charge of centralized planning for Bitcoin's economic aspects such as "max blocksize".
Actually, blocksize is probably not a even a "parameter" which can be "pre-determined" by a C/C++ programmer.
Blocksize is more likely an "emergent phenomenon" which should probably be determined by the market itself.
Below are many, many links talking about how "oligarchy" and "plutocracy" have replaced democracy in politics and economics today.
https://en.wikipedia.org/wiki/Oligarchy#United_States
Some contemporary authors have characterized current conditions in the United States as oligarchic in nature.[8][9]
Simon Johnson wrote that "the reemergence of an American financial oligarchy is quite recent," a structure which he delineated as being the "most advanced" in the world.[10]
Jeffrey A. Winters wrote that "oligarchy and democracy operate within a single system, and American politics is a daily display of their interplay."[11]
Bernie Sanders,opined in a 2010 The Nation article that an "upper-crust of extremely wealthy families are hell-bent on destroying the democratic vision of a strong middle-class … In its place they are determined to create an oligarchy in which a small number of families control the economic and political life of our country."[12]
The top 1% in 2007 had a larger share of total income than at any time since 1928.[13] In 2011, according to PolitiFact and others, the top 400 wealthiest Americans "have more wealth than half of all Americans combined."[14][15][16][17]
French economist Thomas Piketty states in his 2013 book, Capital in the Twenty-First Century, that "the risk of a drift towards oligarchy is real and gives little reason for optimism about where the United States is headed."[18]
A study conducted by political scientists Martin Gilens of Princeton University, and Benjamin Page of Northwestern University, was released in April 2014,[19] which stated that their "analyses suggest that majorities of the American public actually have little influence over the policies our government adopts."
It also suggested that "Americans do enjoy many features central to democratic governance, such as regular elections, freedom of speech and association, and a widespread (if still contested) franchise."
Gilens and Page do not characterize the US as an "oligarchy" per se; however, they do apply the concept of "civil oligarchy" as used by Jeffrey Winters with respect to the US. Winters has posited a comparative theory of "oligarchy" in which the wealthiest citizens – even in a "civil oligarchy" like the United States – dominate policy concerning crucial issues of wealth- and income-protection.[20]
Gilens says that average citizens only get what they want if economic elites or interest groups also want it; that is, economic elites and interest groups are influential.[21] ...
In a 2015 interview, former President Jimmy Carter stated that the United States is now "an oligarchy with unlimited political bribery," due to the Citizens United ruling, which effectively removed limits on donations to political candidates.[25]
Links for the above references (footnotes) in the Wikipedia article on "Oligarchy":
[8] Kroll, Andy (2 December 2010). "The New American Oligarchy". TomDispatch (Truthout). Retrieved 17 August 2012.
http://www.truth-out.org/archive/component/k2/item/93150:andy-kroll--the-new-american-oligarchy
It used to be that citizens in large numbers, mobilized by labor unions or political parties or a single uniting cause, determined the course of American politics. After World War II, a swelling middle class was the most powerful voting bloc, while, in those same decades, the working and middle classes enjoyed comparatively greater economic prosperity than their wealthy counterparts. Kiss all that goodbye. We're now a country run by rich people.
[9] America on the Brink of Oligarchy 24 August 2012 The New Republic
http://www.tnr.com/article/magazine/books-and-arts/106430/money-politics-inequality-power-one-percent-move-on-effect
Winters conceives of oligarchy not as rule by the few, but as a kind of minority power created by great concentrations of material wealth. Compatible with a wide range of regimes, oligarchy can co-exist and even be “fused” with democracy as it is today in the United States.
[10] Johnson, Simon (May 2009). "The Quiet Coup". The Atlantic. Retrieved 17 August 2012.
https://www.theatlantic.com/magazine/archive/2009/05/the-quiet-coup/307364/?single_page=true
The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government—a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF’s staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we’re running out of time.
[11] Winters, Jeffrey A. (November–December 2011) [28 September 2011]. "Oligarchy and Democracy". The American Interest 7 (2). Retrieved 17 August 2012.
http://www.the-american-interest.com/2011/09/28/oligarchy-and-democracy/
Democratic institutions aren't sufficient in themselves to keep the wealthy few from concentrating political power.
[12] Sanders, Bernie (22 July 2010). "No To Oligarchy". The Nation. Retrieved 18 August 2012.
http://www.thenation.com/article/no-oligarchy/
While the middle class disappears and more Americans fall into poverty, the wealthiest people in our country are using their wealth and political power to protect their privileged status at everyone else's expense.
[13] "Tax Data Show Richest 1 Percent Took a Hit in 2008, But Income Remained Highly Concentrated at the Top. Recent Gains of Bottom 90 Percent Wiped Out". Center on Budget and Policy Priorities. 25 May 2011. Retrieved 30 May 2014.
http://www.cbpp.org/research/tax-data-show-richest-1-percent-took-a-hit-in-2008-but-income-remained-highly-concentrated?fa=view&id=3309
[14] Kertscher, Tom; Borowski, Greg (10 March 2011). "The Truth-O-Meter Says: True - Michael Moore says 400 Americans have more wealth than half of all Americans combined". PolitiFact. Retrieved 11 August 2013.
http://www.politifact.com/wisconsin/statements/2011/ma10/michael-moore/michael-moore-says-400-americans-have-more-wealth-/
"Right now, this afternoon, just 400 Americans -- 400 -- have more wealth than half of all Americans combined," Moore avowed to tens of thousands of protesters.
"Let me say that again. And please, someone in the mainstream media, just repeat this fact once; we’re not greedy, we’ll be happy to hear it just once.
"Four hundred obscenely wealthy individuals ... -- most of whom benefited in some way from the multi-trillion-dollar taxpayer bailout of 2008 -- now have more cash, stock and property than the assets of 155 million Americans combined."
[15] Moore, Michael (6 March 2011). "America Is Not Broke". Huffington Post. Retrieved 11 August 2013.
http://www.huffingtonpost.com/michael-moore/america-is-not-broke_b_832006.html
America is not broke.
Contrary to what those in power would like you to believe so that you'll give up your pension, cut your wages, and settle for the life your great-grandparents had, America is not broke. Not by a long shot. The country is awash in wealth and cash. It's just that it's not in your hands. It has been transferred, in the greatest heist in history, from the workers and consumers to the banks and the portfolios of the uber-rich.
Today just 400 Americans have more wealth than half of all Americans combined.
Let me say that again. 400 obscenely rich people, most of whom benefited in some way from the multi-trillion dollar taxpayer "bailout" of 2008, now have more loot, stock and property than the assets of 155 million Americans combined. If you can't bring yourself to call that a financial coup d'état, then you are simply not being honest about what you know in your heart to be true.
[16] Moore, Michael (7 March 2011). "The Forbes 400 vs. Everybody Else". michaelmoore.com. Archived from the original on 2011-03-09. Retrieved 2014-08-28.
https://web.archive.org/web/20110309211959/http://www.michaelmoore.com/words/must-read/forbes-400-vs-everybody-else
According to the most recent information, the Forbes 400 now have a greater net worth than the bottom 50% of U.S. households combined.
[17] Pepitone, Julianne (22 September 2010). "Forbes 400: The super-rich get richer". CNN. Retrieved 11 August 2013.
http://money.cnn.com/2010/09/22/news/companies/forbes_400/index.htm
Forbes magazine released its annual list of the 400 richest Americans on Wednesday, and their combined net worth climbed 8% this year, to $1.37 trillion.
[18] Piketty, Thomas (2014). Capital in the Twenty-First Century. Belknap Press. ISBN 067443000X p. 514
https://en.wikipedia.org/wiki/Capital_in_the_Twenty-First_Century
Capital in the Twenty-First Century is a 2013 book by French economist Thomas Piketty. It focuses on wealth and income inequality in Europe and the United States since the 18th century. It was initially published in French (as Le Capital au XXIe siècle) in August 2013; an English translation by Arthur Goldhammer followed in April 2014.
The book's central thesis is that when the rate of return on capital (r) is greater than the rate of economic growth (g) over the long term, the result is concentration of wealth, and this unequal distribution of wealth causes social and economic instability.
[19] Gilens, Martin; Page, Benjamin (9 April 2016). "Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens" (PDF): 6.
[20] Gilens & Page (2014) p. 6
https://journals.cambridge.org/action/displayAbstract?fromPage=online&aid=9354310
Each of four theoretical traditions in the study of American politics—which can be characterized as theories of Majoritarian Electoral Democracy, Economic-Elite Domination, and two types of interest-group pluralism, Majoritarian Pluralism and Biased Pluralism—offers different predictions about which sets of actors have how much influence over public policy: average citizens; economic elites; and organized interest groups, mass-based or business-oriented.
Multivariate analysis indicates that economic elites and organized groups representing business interests have substantial independent impacts on U.S. government policy, while average citizens and mass-based interest groups have little or no independent influence. The results provide substantial support for theories of Economic-Elite Domination and for theories of Biased Pluralism, but not for theories of Majoritarian Electoral Democracy or Majoritarian Pluralism.
[21] Prokop, A. (18 April 2014) "The new study about oligarchy that's blowing up the Internet, explained" Vox
http://www.vox.com/2014/4/18/5624310/martin-gilens-testing-theories-of-american-politics-explained
Study: Politicians listen to rich people, not you
Who really matters in our democracy — the general public, or wealthy elites?
[25] http://www.rollingstone.com/politics/videos/jimmy-carter-u-s-is-an-oligarchy-with-unlimited-political-bribery-20150731
Former President Jimmy Carter had some harsh words to say about the current state of America's electoral process, calling the country "an oligarchy with unlimited political bribery" resulting in "nominations for president or to elect the president." When asked this week by The Thom Hartmann Program (via The Intercept) about the Supreme Court's April 2014 decision to eliminate limits on campaign donations, Carter said the ruling "violates the essence of what made America a great country in its political system."
https://en.wikipedia.org/wiki/Plutocracy#Post_World_War_II
When the Nobel-Prize winning economist Joseph Stiglitz wrote the 2011 Vanity Fair magazine article entitled "Of the 1%, by the 1%, for the 1%", the title and content supported Stiglitz's claim that the United States is increasingly ruled by the wealthiest 1%.[34]
Some researchers have said the US may be drifting towards a form of oligarchy, as individual citizens have less impact than economic elites and organized interest groups upon public policy.[35]
A study conducted by political scientists Martin Gilens (Princeton University) and Benjamin Page (Northwestern University), which was released in April 2014,[36] stated that their "analyses suggest that majorities of the American public actually have little influence over the policies our government adopts."
Links for the above references (footnotes) in the Wikipedia article on "Plutocracy":
[34] Stiglitz Joseph E. "Of the 1%, by the 1%, for the 1%" Vanity Fair, May 2011; see also the Democracy Now! interview with Joseph Stiglitz: Assault on Social Spending, Pro-Rich Tax Cuts Turning U.S. into Nation "Of the 1 Percent, by the 1 Percent, for the 1 Percent", Democracy Now! Archive, Thursday, April 7, 2011
http://www.vanityfair.com/news/2011/05/top-one-percent-201105
It’s no use pretending that what has obviously happened has not in fact happened. The upper 1 percent of Americans are now taking in nearly a quarter of the nation’s income every year. In terms of wealth rather than income, the top 1 percent control 40 percent.
...
America’s inequality distorts our society in every conceivable way. There is, for one thing, a well-documented lifestyle effect—people outside the top 1 percent increasingly live beyond their means. Trickle-down economics may be a chimera, but trickle-down behaviorism is very real. Inequality massively distorts our foreign policy. The top 1 percent rarely serve in the military—the reality is that the “all-volunteer” army does not pay enough to attract their sons and daughters, and patriotism goes only so far. Plus, the wealthiest class feels no pinch from higher taxes when the nation goes to war: borrowed money will pay for all that. Foreign policy, by definition, is about the balancing of national interests and national resources. With the top 1 percent in charge, and paying no price, the notion of balance and restraint goes out the window. There is no limit to the adventures we can undertake; corporations and contractors stand only to gain. The rules of economic globalization are likewise designed to benefit the rich: they encourage competition among countries for business, which drives down taxes on corporations, weakens health and environmental protections, and undermines what used to be viewed as the “core” labor rights, which include the right to collective bargaining. Imagine what the world might look like if the rules were designed instead to encourage competition among countries for workers. Governments would compete in providing economic security, low taxes on ordinary wage earners, good education, and a clean environment—things workers care about. But the top 1 percent don’t need to care.
[35] Piketty, Thomas (2014). Capital in the Twenty-First Century. Belknap Press. ISBN 067443000X p. 514: "the risk of a drift towards oligarchy is real and gives little reason for optimism about where the United States is headed."
https://en.wikipedia.org/wiki/Capital_in_the_Twenty-First_Century
[36] Gilens & Page (2014) Testing Theories of American Politics: Elites, Interest Groups, and Average Citizens, Perspectives on Politics, Princeton University. Retrieved 18 April 2014.
PDF! www.princeton.edu/~mgilens/Gilens%20homepage%20materials/Gilens%20and%20Page/Gilens%20and%20Page%202014-Testing%20Theories%203-7-14.pdf
Finally, it is worth mentioning the notorious "Plutonomy" memo prepared by analysts at Citigroup:
https://pissedoffwoman.wordpress.com/2012/04/12/the-plutonomy-reports-download/
Citigroup wrote memos in 2005 and 2006 addressed to investors, basically saying that the world is dividing up more and more into a small group of rich people who drive the economy, surrounded by a large number of poor people whose economic interests can be safely ignored.
As the above links show, it is shockingly naïve for Gregory Maxwell u/nullc to claim that policies for fiat currencies are determined by "democracies".
If he is this ignorant about the reality of so-called democracies and fiat currencies, one can only wonder how much other stuff he is ignorant about, in his ongoing misguided attempts to impose his own centralized economic planning on Bitcoin.
submitted by ydtm to btc [link] [comments]

Bitcoin dev IRC meeting in layman's terms (2015-10-15)

Once again my attempt to summarize and explain the weekly bitcoin developer meeting in layman's terms. Link to last weeks summarization
Disclaimer
Please bear in mind I'm not a developer and I'd have problems coding "hello world!", so some things might be incorrect or plain wrong. Like any other write-up it likely contains personal biases, although I try to stay as neutral as I can. There are no decisions being made in these meetings, so if I say "everyone agrees" this means everyone present in the meeting, that's not consensus, but since a fair amount of devs are present it's a good representation. The dev IRC and mailinglist are for bitcoin development purposes. If you have not contributed actual code to a bitcoin-implementation, this is probably not the place you want to reach out to. There are many places to discuss things that the developers read, including this sub-reddit.
link to this week logs Meeting minutes by meetbot
Main topics discussed where:
Mempool limiting sendheaders BIP versionbits dev/discuss list policy CHECKSEQUENCEVERIFY
Mempool limiting
When a transaction is relayed across the network it is held by the nodes in memory, until it gets into a block. All these transactions that sit in memory are called the memorypool or mempool for short. Like we could see during the spam-attack if there's a big back-log of transactions that couldn't make it in the blockchain this mempool can get pretty big resulting in nodes crashing.
To stop this from happening devs are trying to find a way to limit this mempool, so a mechanism to reject and/or remove transactions from the mempool. The hard part here is to make it so nodes can't be attacked by abusing this mechanism. So far the devs are going with TheBlueMatt's proposal of throwing away the cheapest txn and setting the min relay fee to it
While testing, sipa encountered transactions that took 200ms to be accepted into the mempool. As it's the first time he has benchmarked this and the pull-request shouldn't make an impact on these times it likely doesn't have anything to do with this. However, such times are bad either way. The average time in sipa's tests is 4ms. (After the meeting Morcos did some benchmarking and confirmed it was not specific to this PR, and pointed out the outliers come from CheckInputs and HaveInputs (as you might guess, having to do with checking the inputs) Question on why we should revert the minrelay (minimum fee for nodes to relay a transaction) back to 1000 (it has been set to 5000 to quick-fix the mempool issues), sipa thinks it should be floating as well or the dust limit becomes ineffective.
Review PR 6722 Limit mempool by throwing away the cheapest txn and setting min relay fee to it Morcos/sipa will do some more benchmarks and comment on the PR ( morcos' benchmark results )
sendheaders BIP
send headers BIP Copy/paste from the BIP: Since the introduction of "headers-first" downloading of blocks in 0.10, blocks will not be processed unless they are able to connect to a (valid) headers chain. Consequently, block relay generally works as follows:
  1. A node (N) announces the new tip with an "inv" message, containing the block hash
  2. A peer (P) responds to the "inv" with a "getheaders" message (to request headers up to the new tip) and a "getdata" message for the new tip itself
  3. N responds with a "headers" message (with the header for the new block along with any preceding headers unknown to P) and a "block" message containing the new block However, in the case where a new block is being announced that builds on the tip, it would be generally more efficient if the node N just announced the block header for the new block, rather than just the block hash, and saved the peer from generating and transmitting the getheaders message (and the required block locator).
Question on how to move forward. How to let the nodes know you want the blockheader instead of the blockhash. Options:
  1. Extend the version message.
  2. Have an "options" message that can send flags.
  3. Send a "sendheaders" message early when connecting so the way peers want their block announcement is immediately known.
  4. Send a "sendheaders" message at any time, changing the way peers want their block announcement from hashes to headers.
No one likes to extend the version message further. There's no strong advantage to have an "options" message over a "sendheaders" message. Having the message being sent early on might be too constraining. Possible usecase from morcos: "its entirely possible some future optimization may say, i want to send sendheaders to these peers b/c they announce a lot of new stuff to me and not these others b/c they don't". Most people like this to be enable-only, so no message to get back to receiving blockhashes. Which is how the BIP was drafted.
sdaftuar does a pull-request for the BIP to get a number assigned and proceeds with the BIP as drafted.
versionbits
BIP 9 Currently softforks have been done by the isSuperMajority mechanism, meaning when 95% of the last X blocks has a version number higher than Y the fork is deployed. A new way of doing this is currently being worked on and that uses all bits of the version number, appropriately being called versionbits. So instead of a fork happening when the version is larger than (for example) 00000000011 (3), a fork happens when (for example) the 3rd bit is up (so 00100000011). This way softforks can be deployed simultaneous and independent of each other.
copy/paste from IRC, since I don't know what this specifically means: CodeShark: so right now it's just a unit that implements the versionbits logic but does not demonstrate its usage I thought it would be better to actually integrate in a separate PR, but I can add a demonstration sipa: separate commit, same PR - i think we need something that's mergable as a whole, to be able to see whether the whole thing easily backports
Codeshark (who's implementing versionbits) had some more remarks but no one present had seemed to reviewed it, so not much use in discussing things further.
review versionbits implementation
dev/discuss list policy
The bitcoin-dev mailing list is intended for technical discussions only. There's things that don't belong there but need to be discussed anyway. Now this is done in bitcoin-dev, but the volume of this is getting too big. There's recently also an influx of really inappropriate posts, level kindergarden. For the things that don't belong on bitcoin-dev, but need to be discussed anyway there's a new list being created namely bitcoin-discuss as well as clear policies and moderation for both.
Bitcoin-discuss was created, but the admin password wasn't distributed to jgarzik who's willing to guide the moderation. Seperate moderation-proposals have been done meanwhile. People just want it to move on.
Since none of the people who proposed a moderation-scheme are present we'll let them discuss it among each other and post their decisions publicly.
CHECKSEQUENCEVERIFY
CheckLockTimeVerify (CLTV) repurposes the nSequence field (nSequence are 4 bytes intended for sequencing time-locked transactions, but this never got used). However, there's no way use these values in a bitcoin script. CheckSequenceVerify (CSV) makes this field accessible to bitcoin scripts.
EDIT: Turns out this is not entirely correct as it is relative locktime that repurposes the nSequence field.
CLTV is pretty much done. Check to see maaku moving one of the bits to allow for other implementations to have better granularity has any objections. As long as we're using as few bits as possible the exact semantics are less important for most people. sipa points out a possible bug that influences the wallet. CSV is not on target for the end of of the month, although a lot of work and progress has been made.
Review and ACK/NACK of 6312 BIP-68: Mempool-only sequence number constraint verification Review and ACK/NACK of 6566 BIP-113: Mempool-only median time-past as endpoint for lock-time calculations
Participants
wumpus Wladimir J. van der Laan sipa Pieter Wuille btcdrak btcdrak gmaxwell Gregory Maxwell morcos Alex Morcos maaku Mark Friedenbach CodeShark Eric Lombrozo BlueMatt Matt Corallo sdaftuar Suhas Daftuar warren Warren Togami GreenIsMyPepper Joseph Poon davec Dave Collins cfields Cory Fields jonasschnelli Jonas Schnelli
Comic relief
19:21 sdaftuar it sounds like everyone is ok with the BIP as drafted then? 19:21 wumpus yes 19:21 gmaxwell I think so. 19:22 davec yes 19:22 sipa well, the only person with concerns was cfields, who doesn't seem to be here :) 19:22 gmaxwell sipa: he can raise concerns later too! 19:22 cfields dammit! 19:22 sipa cfields: too late! 19:22 gmaxwell ha 19:23 cfields did i really miss my third one of these in a row?
submitted by G1lius to Bitcoin [link] [comments]

List of people who have had commit access to Bitcoin Core

I decided to attempt to figure out who has ever had commit access to Bitcoin Core's git repository and from when to when. I also posted this on Bitcointalk, but I will not link the thread due to the doxxing rule (that thread contains real names taken from the commit messages).
This list contains the git names (to avoid doxxing) of everyone who I can find evidence for ever having commit access to Bitcoin Core, the dates during which they had commit access, sources for all of this information, and reasoning for the access.
Footnotes:
Other Notes:
After scrolling through nearly the entire git merges history, I have found a couple of interesting things.
Satoshi did not use a Version Control System originally. The releases and source code were originally in a rar file that was uploaded to bitcoin.org. Sirius had to setup the original SVN repository on SourceForge for him. This was then later migrated to GitHub by gavinandresen. Originally patches were authored by developers and then emailed to Satoshi, Sirius, or gavinandresen who then committed the changes to the source tree with the commit message containing the attribution, but not the actual commit itself.
Another interesting fact is that the giving out of commit access has become more strict. It is now a privilege held by those given maintainer positions and those whose privilege was grandfathered in (i.e. they had it previously and kept it). Previously it was simply given out to those who contributed frequently and revoked after they stopped contributing. This appears to be no longer the case, although there are still multiple people who can commit to the repository so that there is not any reliance on one person. The maintainers are still given to frequent contributors as the maintainers are frequent contributors to the set of functionality for which they are maintainers of. They received the positions because of frequent contributions to those functionalities.
Lastly, I could not find any evidence for Satoshi ever publicly announcing that gavinandresen was to be the Lead Maintainer after him. It seems that Gavin was already a frequent contributor and already had commit access for a while before Satoshi disappeared. After Satoshi disappeared and Sirius stopped contributing as much, gavinandresen simply took over the role as lead maintainer as he was the only frequent contributor with commit access.
Edits:
Dooglus -> dooglus
jgarzik's commit access was revoked a while ago.
Bolded those who still actively contribute to the project
Clarified how maintainers got their roles
submitted by achow101 to Bitcoin [link] [comments]

Bitcoin dev IRC meeting in layman's terms (2015-11-05)

Once again my attempt to summarize and explain the weekly bitcoin developer meeting in layman's terms. Link to last weeks summarization Note that I crosspost this to Voat, bitcoin.com and the bitcoin-discuss mailing list every week. I can't control what's being talking about in the meeting, if certain things come up I might not be able to post here because of "guidelines".
Disclaimer
Please bear in mind I'm not a developer and I'd have problems coding "hello world!", so some things might be incorrect or plain wrong. Like any other write-up it likely contains personal biases, although I try to stay as neutral as I can. There are no decisions being made in these meetings, so if I say "everyone agrees" this means everyone present in the meeting, that's not consensus, but since a fair amount of devs are present it's a good representation. The dev IRC and mailinglist are for bitcoin development purposes. If you have not contributed actual code to a bitcoin-implementation, this is probably not the place you want to reach out to. There are many places to discuss things that the developers read, including this sub-reddit.
link to this week logs Meeting minutes by meetbot
Main topics discussed where:
Sigcache performance Performance goals for 0.12 transaction priority sigops flooding attack chain limits
Short topics/notes
Note: cfields, mcelrath and BlueMatt (and maybe more) missed the meeting because of daylight saving time.
Closing date for proposals for the scaling bitcoin workshop is the 9th.
Check to see if there are any other commits for the 0.11.2 RC. As soon as 6948 and 6825 are merged it seems good to go. We need to move fairly quick as there are already miners voting for CLTV (F2Pool). Also testnet is CLTV locked already and is constantly forking. 0.11.2 RC1 has been released as of today: https://bitcoin.org/bin/bitcoin-core-0.11.2/test/
Most of the mempool-limiting analysis assumed child-pays-for-parent, however that isn't ready for 0.12 yet, so we should think about possible abuses in context of the existing mining algorithm.
Because of time-constrains opt-in replace-by-fee has been deferred to next weeks meeting, but most people seem to want it in 0.12. sdaftuar makes a note that we need to make clear to users what they need to do if they don't want to accept opt-in transactions.
Sigcache performance
The signature cache, which is in place to increase performance (by not having to check the signature multiple times), and to mitigate some attacks currently has a default limit of 50 000 signatures. Sipa has a pull-request which proposes to: Change the limit from number of entries to megabytes Change the default to 40MB, which corresponds to 500 000 signatures Store salted hashes instead of full entries Remove entries that have been validated in a block
Sipa did benchmarks for various signature cache sizes on hitrate in blocks (how many of the cached signatures are in the block). The maximum sigcache size was 68MB, resulting in a 3% miss-rate. Some blocks though have extremely high miss rates (60%) while others have none. Likely caused by miners running different policies. Gmaxwell proposed to always run script verification for mempool transactions, even if these transactions get rejected into the mempool by the clients policy. The result of that is that even a 300MB sigcache size only gets down to 15% misses. So there's too much crap being relayed to keep any reasonable sized cache. Gmaxwell points out downsides to not checking any rejected transactions, namely: there are some DOS attacks possible, and you increase your misrate if you set a policy which is more restrictive than the typical network, which might result in a race to the bottom.
Sipa continues his work and seeks out other strategies
Performance goals for 0.12
Bitcoin-core 0.12 is scheduled for release December 1st.
Everybody likes to include secp256k1 ASAP, as it has a very large performance increase. Some people would like to include the sigcache pull-request, BIP30, modifyNewCoins and a createNewBlock rewrite if it's ready. Wumpus advises against merging last-minute performance improvements for 0.12.
Mentioned pull-requests should be reviewed, prioritizing CreateNewBlock
transaction priority
Each transaction is assigned a priority, determined by the age, size, and number of inputs. Which makes some transactions free.
Sipa thinks we should get rid of the current priority completely and replace it with a function that modifies fee or size of a transaction. There's a pull-request available that optimizes the current transaction priority, thereby avoiding the political debate that goes with changing the definition of transaction priority. Luke-jr thinks the old policy should remain possible.
Check to see if PR #6357 is safe and efficient enough.
sigops flooding attack
The number of ECDSA signature-checking operations or sigops is currently limited to 20 000 per block. This in order to prevent miners creating blocks that take ages to verify as those operations are time-consuming. You could however construct transactions that have a very high sigops count and since most miners don't take into account the sigops count they end up with very small blocks because the sigop limit is reached. This attack is described here.
Suggestion to take the number of sigops relative to the maximum blocksize into account with the total size. Meaning a 10k sigops transaction would currently be viewed as 500kB in size (for that single transaction, not towards the block). That suggestion would be easy to change in the mining code, but more invasive to try and plug that into everything that looks at feerate. This would also open up attacks on the mempool if these transactions are not evicted by mempool limiting. Luke-jr has a bytes-per-sigop limit, that filters out these attack transactions.
More analysis should be done, people seem fine with the general direction of fixing it.
chain limits
Chain in this context means connected transactions. When you send a transaction that depends on another transaction that has yet to be confirmed we talk about a chain of transactions. Miners ideally take the whole chain into account instead of just every single transaction (although that's not widely implemented afaik). So while a single transaction might not have a sufficient fee, a depending transaction could have a high enough fee to make it worthwhile to mine both. This is commonly known as child-pays-for-parent. Since you can make these chains very big it's possible to clog up the mempool this way. With the recent malleability attacks, anyone who made transactions going multiple layers deep would've already encountered huge problems doing this (beautifully explained in let's talk bitcoin #258 from 13:50 onwards) Proposal and github link.
sdaftuar's analysis shows that 40% of blocks contain a chain that exceeds the proposed limits. Even a small bump doesn't make the problem go away. Possible sources of these chains: a service paying the fees on other transactions (child-pays-for-parent), an iOS wallet that gladly spends unconfirmed change. A business confirms they use child-pays-for-parent when they receive bitcoins from an unspent chain. It is possible that these long chains are delivered to miners directly, in which case they wouldn't be affected by the proposed relay limits (and by malleability). Since this is a problem that needs to be addressed, people seem fine with merging it anyway, communicating in advance to let businesses think about how this affects them.
Merge "Policy: Lower default limits for tx chains" Morcos will mail the developer mailing list after it's merged.
Participants
morcos Alex Morcos gmaxwell Gregory Maxwell wumpus Wladimir J. van der Laan sipa Pieter Wuille jgarzik Jeff Garzik Luke-Jr Luke Dashjr phantomcircuit Patrick Strateman sdaftuar Suhas Daftuar btcdrak btcdrak jouke ??Jouke Hofman?? jtimon Jorge Timón jonasschnelli Jonas Schnelli 
Comic relief
20:01 wumpus #meetingend 20:01 wumpus #meetingstop 20:01 gmaxwell Thanks all. 20:01 btcdrak #exitmeeting 20:01 gmaxwell #nomeetingnonono 20:01 btcdrak #meedingexit 20:01 wumpus #endmeeting 20:01 lightningbot Meeting ended Thu Nov 5 20:01:29 2015 UTC. Information about MeetBot at http://wiki.debian.org/MeetBot . 20:01 btcdrak #rekt 
submitted by G1lius to Bitcoin [link] [comments]

Bitcoin is a one-party state

Definition here.
A one party state... is a type of state in which one political party has the right to form the government. All other parties are either outlawed or allowed to take only a limited and controlled participation in elections."
Referring to the linked article, note the list of countries that practice this form of government.
It has been vehemently argued by Core that Bitcoin is not majoritarian. It has been vehemently argued by Core that consensus rules are not up for "Nakamoto vote".
The protocol rules of the bitcoin system have never been up for vote by CPU; not from the very first release, not in the earliest descriptions of the system. - GMaxwell
Though Core will also argue vehemently that they do not "control" Bitcoin, note this part of the definition of a "one-party state:
Sometimes the term de facto one-party state is used to describe a dominant-party system that, unlike the one-party state, allows (at least nominally) democratic multiparty elections, but the existing practices or balance of political power effectively prevent the opposition from winning the elections.
My friends, I fear this is Bitcoin.
Yes, Nakamoto consensus does permit the possibility of a "Nakamoto vote" on the consensus rules. Yes, this does in theory allow a competing dev team to create alternative implementations. But, de facto, through control of media, censorship, and partnership with key miners, Core has been able to thwart the "referendum" on itself.
If Core can prevent a referendum on itself, then it "controls Bitcoin."
Folks, Classic adoption has stalled.
In the past there were schisms that divided the community and chunks of people left. When XT stalled, Mike and a bunch of other people gave up on Bitcoin. Now Classic is stalling and I foresee another wave of people leaving.
I now understand the strategy.
With each new "issue" (ie ASIC mining, the blocksize limit, etc. etc.), Core can obstruct progress right to the point that it has actually enraged the majority. As long as Core can continue to censor & excise people like us in waves, such that we aren't allowed to "build up" in its community and become a majority, then there can never be a "vote on leadership."
It can't come up for vote.
Bitcoin depends on open communication channels in order to work. This might be a coincidence, or it might be telling us that whoever controls the channels, controls the coin.
I got involved with Bitcoin knowing full well that there were a million ways it could fail. Intellectually, it's been an amazing ride regardless: I've learned so much in the past few years that will be relevant regardless if Bitcoin succeeds or fails. Financially, it's been great too. Fortunately I never "put in more than I could afford to lose" so I'm actually willing to ride Bitcoin into the ground if need be.
The thing is, I didn't sign up for a Bitcoin that is resistant to ideas, and which serves a small, special-interested group. I didn't sign up for the Core team. Hell when I got involved, most of those people were still scoffing at Bitcoin! I am not interested in this "small tent" vision of Bitcoin.
I got involved in permissionless innovation, where anyone with an economically efficient idea could get his ideas heard and implemented. I got involved in the "big tent" vision of Bitcoin, a Bitcoin that would scale on-chain.
[ASIDE: the limit was introduced roughly six years ago. That's four iterations of Moore's Law. If we scaled with Moore's law, from the moment the 1MB was introduced, the limit would currently be 16MB.]
[ASIDE: when the limit was introduced the typical block contained one (1) transaction (the coinbase transaction) because nobody was using the network, so the 1MB limit was 4000X greater than the typical block size. If the same padding were used today, the limit would be ~4GB]
I've included these observations because I don't believe that anyone in 2010 would have ever thought that six years later, Bitcoin could be worth $400+, would be carrying hundreds of thousands of transactions daily, and would still have a 1MB capacity cap. And I feel doubly sure that in 2010 people would have lost their fucking minds at the idea that in 2016 the capacity would be limited in order "to let a fee market develop."
Who the hell is going to invest in a technology that is already at capacity?
Folks, I think we're looking at a potential end-game playing out here. The folks at Core are obviously completely blind to this, but sooner or later Core will simply get sufficiently out of touch with the market that people just abandon Bitcoin because something else is actually working much better. That is in fact Core's explanation for how the economic incentives in Bitcoin work:
The economic mechanism that provides feedback to miners is that the users of the system won't accept their blocks if they violate the rules the users prefer exist. - GMaxwell
If this is the de facto operative vision of Bitcoin, then it's doomed.
First off, this system can only reject sufficiently hostile innovations. "Annoying" and "non value added" and even "pretty bad" innovations can still be forced through through soft-forks that avoid the consensus vote.
But worse, and this is the real kicker, this system cannot choose innovations for itself. It must passively accept only those innovations offered by Core.
"Got a brilliant idea that could revolutionize the blockchain? Core hates it? Fuck you. Start an altcoin. Censored"
If I'm understanding this correctly, that strategy will work every time.
So the idea of Bitcoin that I envisioned - one in which miners would voluntarily select code that expresses the consensus rules that they believe should emerge on the network - that Bitcoin might not exist. Which is a shame, because that Bitcoin is permissionless, censorship-resistant, and innovates at the speed of the market.
Instead, we might just have CoreCoin :( Which is only as censorship-resistant as they decide, and which innovates at the speed of their willingness to permit it.
Like I said, I didn't sign up for that particular group of people - most of them were still making fun of Bitcoin when I got started.
But a de facto one-party state = CoreCoin. Owning a Bitcoin is an economic vote in Core.
Am I wrong? And if not, can this train get put back on the tracks?
submitted by tsontar to btc [link] [comments]

Bitcoin dev IRC meeting in layman's terms (2016-01-21)

Once again my attempt to summarize and explain the weekly bitcoin developer meeting in layman's terms. Link to last summarisation
Disclaimer
Please bear in mind I'm not a developer so some things might be incorrect or plain wrong. There are no decisions being made in these meetings, but since a fair amount of devs are present it's a good representation. Copyright: Public domain

Logs

Main topics

Short topics

0.11 backport release for chainstate obfuscation

background

As some windows users might have experienced in the past, anti-virus software regularly detects values in the bitcoin database files which are false-positives. Thereby deleting those files and corrupting the database. To prevent this from happening developers discussed a way to obfuscate the database files and implemented it last year. While downgrading after upgrading is possible, if you start from a new 0.12 installation or you've done a -reindex on 0.12 it's impossible to downgrade to 0.11 (without starting from scratch).

meeting comments

The proposed pull-request detects the obfuscation in 0.11 so it throws a relevant error message. To avoid this in the future it would be good to have versionnumbers for the chainstate.

meeting conclusion

Release a 0.11 backport release right after the 0.12 final release to avoid confusion.

C++11 update

background

C++11 is an update of the C++ language. It offers new functionalities, an extended standard library, etc. Zerocash had to be written with some c++11 libraries and some IBLT simulation code was written in c++11, which they want to recycle for the eventual core commit.

meeting comments

All changes needed for C++11 have gone in and it's ready to switch. Cfields talked to the travis team and all the features needed (trusty, caching) will be ready by the end of the month, so he proposes to wait until then to flip the switch. Wangchung from f2pool indicated he would not run code that required a C++11 compiler. No one knows what his exact concerns are. Wumpus notes the gitian-built executables don't need any special OS support after the C++11 switch.

meeting conclusion

Wait for Travis update to switch to C++11. Talk to wangchung about his concerns.

EOL Policy / release cycles

background

In general bugfixes, translations and softforks are maintained for 2 major releases. btcdrak proposed to makes this official into a software life-cycle document for bitcoin core in order to inform users what to expect and developers what to code for. Pull request for this document. Given the huge 0.12 changelog jonasschnelli asks whether shorter release cycles might be a good idea. Currently there's a +/- 6 month release cycle.

meeting comments

Gmaxwell notes he doesn't know how useful the backports are given there's no feedback about them, but thinks the current policy is not bad. "I am observing the backports appear to be a waste of time. From a matter of principle, I think they are important, but the industry doesn't appear to agree." If no one is using the backports, it might not see sufficient testing. People generally agree with the 2 major releases approach.
The cyclelength also contributes to frustration and pressure to get features in, as it won't see the light of day for 6 months if it doesn't make the new release. For users it's not really better to have more frequent major releases, as upgrading may not always be a trivial process. There's also a lot of work going into releases. If the GUI and wallet where detached there could be more frequent releases for that part.

meeting conclusion

Policy will be: final release of 0.X means end-of-life of 0.(X-2), which means a 1 year support on the 6 month cycle.

Participants

wumpus Wladimir J. van der Laan gmaxwell Gregory Maxwell jonasshnelli Jonas Schnelli cfields Cory Fields btcdrak btcdrak sipa Pieter Wuille jtimon Jorge Timón maaku Mark Friedenbach kangx_ ??? Kang Zhang ??? sdaftuar Suhas Daftuar phantomcircuit Patrick Strateman CodeShark Eric Lombrozo bsm117532 Bob McElrath dkog ?dkog? jeremias ??? Jeremias Kangas ??? 

Comic relief

jonasschnelli maaku: refactoring? We have a main.cpp. We don't need refactoring. :) gmaxwell jonasschnelli: can we move everything back into main.cpp? I'd save a lot of time grepping. :P wumpus #endmeeting lightningbot` Meeting ended Thu Jan 21 19:55:48 2016 UTC. Information about MeetBot at http://wiki.debian.org/MeetBot . (v 0.1.4) btcdrak wumpus: hole in one maaku Did it right this time! gmaxwell Hurray! 
submitted by G1lius to Bitcoin [link] [comments]

Long live decentralized bitcoin: A reading list

Newbs might not know this, but bitcoin recently came out of an intense internal drama. Between July 2015 and August 2017 bitcoin was attacked by external forces who were hoping to destroy the very properties that made bitcoin valuable in the first place. This culminated in the creation of segwit and the UASF (user activated soft fork) movement. The UASF was successful, segwit was added to bitcoin and with that the anti-decentralization side left bitcoin altogether and created their own altcoin called bcash. Bitcoin's price was $2500, soon after segwit was activated the price doubled to $5000 and continued rising until here we are today at $15000.
During this drama, I took time away from writing open source code to help educate and argue on reddit, twitter and other social media. I came up with a reading list for quickly copypasting things. It may be interesting today for newbs or anyone who wants a history lesson on what exactly happened during those two years when bitcoin's very existence as a decentralized low-trust currency was questioned. Now the fight has essentially been won, I try not to comment on reddit that much anymore. There's nothing left to do except wait for Lightning and similar tech to become mature (or better yet, help code it and test it)
In this thread you can learn about block sizes, latency, decentralization, segwit, ASICBOOST, lightning network and all the other issues that were debated endlessly for over two years. So when someone tries to get you to invest in bcash, remind them of the time they supported Bitcoin Unlimited.

Summary / The fundamental tradeoff

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

Scaling on-chain will destroy bitcoin's decentralization

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

Full blocks are not a disaster

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

Segwit

What is segwit

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

Why is segwit being blocked

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

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

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

What if segwit never activates

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

Lightning

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

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

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

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

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

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

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

BU is bugged, poorly-reviewed and crashes

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

Bitcoin Unlimited Remote Exploit Crash 14/3/2017

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

User Activated Soft Fork (UASF)

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

Fighting off 2x HF

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

Misinformation / sockpuppets

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

History

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

Misc (mostly memes)

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

Bitcoin - Wiki The Of Bitcoin - Wikipedia Ghislaine Maxwell Net Worth 2020, Age, Bio, Height, BoyFriend, Parents, Wiki  Net Worth Diary What Does Bitcoin Become? What is Bitcoin - Team Queen Wiki

User:Gmaxwell/Reverse header-fetching sync. From Bitcoin Wiki. Jump to: navigation, search. Ask peers for the identiy of their best block, get all distinct ones. Exclude any that couldn't be valid based on what we can validate: Minimum difficulty, timestamp, syntax, subsidy. (An additional rule like diff must be >=x if the height is >=y can /r/btc was created to foster and support free and open Bitcoin discussion, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin industry leaders! Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. I > usually forgo bootstrapping on VPSes because I don't want to have to adjust > the disk space allocation. > > With headers-first I'm saturating my home cable connection with download > rates of 4 MB/s until block 295,000 at which point CPU becomes the > bottleneck and it settles down in the 1 MB/s range. > > It took 6 minutes for my node to User:Gmaxwell/features. From Bitcoin Wiki. Jump to: navigation, search. This is a non-official list of features I personally would like to see in the reference Bitcoin software. Although it's just my personal list, some of these items are generally supported by other people— and I've included many things that I wouldn't use myself but think Skycoin (SKY) is a third generation cryptocurrency, is the fuel of the entire ecosystem.It supports 300 TPS, free transactions with less than 2 seconds transaction time, is resistant to 51% attacks, is sustainably maintained without energy-intensive mining, has default private transaction with the CoinJoin protocol, and pays a form of dividends in a different currency known as Coin Hours

[index] [12222] [4468] [25772] [9478] [15327] [4076] [12023] [15061] [9057] [28400]

Bitcoin - Wiki

The Of Bitcoin - Wikipedia Here are three actions to help you get started utilizing Bitcoin Money right now: A Bitcoin wallet is an app or program that enables you send and receive BCH. Wallets ... Anthony Pompliano says get ready for the bitcoin halving and price escalation to $100k - Duration: 13:28. Kitco NEWS 83,121 views. 13:28. Bitcoin is a cryptocurrency and a digital payment system invented by an unknown programmer or a group of programmers under the name Satoshi Nakamoto It was released as open source software in The s... This video is unavailable. Watch Queue Queue. Watch Queue Queue Team Queen Wiki is the fastest growing team in CFX! Earn Bitcoin while you Learn Forex! Cash FX Group has strategic alliances with the most recognized institutions in the financial markets.

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