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  • A warning about LocalBitcoins
    by /u/IHaveNoBTCVerySad on April 24, 2019 at 1:33 am

    Be careful if you ever use LocalBitcoins, even if you've used them for a few years and found it a pleasant experience. Until, like so many people seem to have experienced, they seize your bitcoins and put you on a forced holiday, without so much as a short note with an explanation. You can't even opt out their platform and withdraw your BTC to your own account or an exchange, or whatever. Their behavior is worse than banks in this respect. Please be careful and consider other services instead. Or developers could get together to replace LBC with highly visible open source code and create a community trading platform with some transparency and top customer support, rather than a profit driven one centered around facilitating large trades. submitted by /u/IHaveNoBTCVerySad [link] [comments […]

  • Jeffrey Tucker: "Thats its (crypto) sole source of value is the use case of cash... CASH for the Internet!"
    by /u/unstoppable-cash on April 24, 2019 at 12:32 am

    submitted by /u/unstoppable-cash [link] [comments […]

  • 124 BCH Total tips on memo reached!
    by /u/knight222 on April 23, 2019 at 11:52 pm

    submitted by /u/knight222 [link] [comments […]

  • Adam Back might be the most non-crypto literate person in crypto
    by /u/blockspace_forsale on April 23, 2019 at 11:10 pm

    submitted by /u/blockspace_forsale [link] [comments […]

  • More unintended consequences of full blocks, miners gaming the BTC fees?
    by /u/melllllll on April 23, 2019 at 10:41 pm

    submitted by /u/melllllll [link] [comments […]

  • Yelp’s new filter allows users to sort by “Accepts Cryptocurrency”.
    by /u/Actualcrypto on April 23, 2019 at 10:35 pm

    submitted by /u/Actualcrypto [link] [comments […]

  • Bitcoin ABC 0.19.4 is released! Only 3 weeks left until the Bitcoin Cash protocol upgrade on May 15th. Time is short, prepare today!
    by /u/money78 on April 23, 2019 at 10:12 pm

    submitted by /u/money78 [link] [comments […]

  • Bitcoiners: Then and Now [MEME CONTEST - details in comments]
    by /u/BeijingBitcoins on April 23, 2019 at 9:59 pm

    submitted by /u/BeijingBitcoins [link] [comments […]

  • Next Block Fees: BTC $1.41 / BCH $0.0015
    by /u/Egon_1 on April 23, 2019 at 8:29 pm

    submitted by /u/Egon_1 [link] [comments […]

  • Survey Shows South Koreans Increased Crypto Holdings by 64% Last Year
    by /u/JonyRotten on April 23, 2019 at 6:18 pm

    submitted by /u/JonyRotten [link] [comments […]

  • In the last few days, many blocks have been mined by an "Unknown" miner with "boomboomboom" in their coinbase text. Is this a new mining pool?
    by /u/nicole_amm on April 23, 2019 at 5:40 pm

    According to the statistics at, a significant fraction of the recently mined BCH blocks are attributed to an "Unknown" miner with "boomboomboom" in their coinbase text. This coincides with a marked decrease in the percentage of blocks mined by the pool, which was mining approximately a quarter of the blocks about a week ago. What’s going on here? Is this a new mining pool? submitted by /u/nicole_amm [link] [comments […]

  • Bitcoin Core fees back on the rise! 🚀
    by /u/thatwtfdude on April 23, 2019 at 5:24 pm

    submitted by /u/thatwtfdude [link] [comments […]

  • Which money transfer service would you choose?
    by /u/MemoryDealers on April 23, 2019 at 4:47 pm

    submitted by /u/MemoryDealers [link] [comments […]

  • The Tokyo #BCH meetup has reached 1300 members! Be sure to start a BCH meetup in your town!
    by /u/MemoryDealers on April 23, 2019 at 4:22 pm

    submitted by /u/MemoryDealers [link] [comments […]

  • In 2016, I created a 2MB increase for Bitcoin, and with Gavin on board, we quickly gained consenses with 80-90% of miners, businesses and users. Days later, Blockstream flew to Hong Kong and stopped it.
    by /u/gromit on April 23, 2019 at 3:50 pm

    submitted by /u/gromit [link] [comments […]

  • The world's first BCH and BCH SLP Token wallet is now live in the Android Play Store. Go BCH!
    by /u/MemoryDealers on April 23, 2019 at 3:42 pm

    submitted by /u/MemoryDealers [link] [comments […]

  • Trying to sell my last old BTC. Paid two Bitcoin tx accelerators to try to get it confirmed today...
    by /u/TheJesbus on April 23, 2019 at 3:35 pm

    I paid them in BCH 🙂 submitted by /u/TheJesbus [link] [comments […]

  • If you’ve been wondering what we’re REALLY up against — and why there is so much coordinated & fabricated opposition to BCH — this article explains everything you’d want to know about the world’s largest racket: The U.S. Government
    by /u/scotty321 on April 23, 2019 at 3:01 pm

    submitted by /u/scotty321 [link] [comments […]

  • Its the USERS fault! Says Adam Back (Co-founder & CEO of Blockstream) about high fees & long confirmation times (BTC) and its going to get worse!
    by /u/unstoppable-cash on April 23, 2019 at 2:16 pm

    submitted by /u/unstoppable-cash [link] [comments […]

  • Critics of /r/btc are claiming anything related to BitcoinSV or BitcoinCashSV is automatically removed by AutoModerator and this post is simply a test to see if that's true
    by /u/KayRice on April 23, 2019 at 2:09 pm

    I think SV is overall a dumb idea and being associated with a known fraud (Craig) doesn't help much, but if this post is removed automatically by AutoModerator then I think we have a problem. One of the important functions of /r/btc is to allow for open discussion about all things Bitcoin and not to resort to the shitty tactics that were the reason we left /r/Bitcoin in the first place. If this post doesn't get removed then it will simply serve as an easy way for me to dispute the claims by some that this subreddit has became censored. submitted by /u/KayRice [link] [comments […]

  • Way more places in both Japan and Singapore accept BCH than BTC and the trend is continuing!
    by /u/MemoryDealers on April 23, 2019 at 12:28 pm

    submitted by /u/MemoryDealers [link] [comments […]

  • Hey everyone! Just thought I'd let you guys know that I just released v1.3.0 of Crescent Cash, which brings SLP token support to the wallet!
    by /u/_pokkst on April 23, 2019 at 11:38 am

    submitted by /u/_pokkst [link] [comments […]

  • Someone is spending a lot of time/money gilding anti-BCH rhetoric
    by /u/GreyLlama on April 23, 2019 at 11:22 am

    submitted by /u/GreyLlama [link] [comments […]

  • My conclusions about the Lightning Network and a request for critique by smarter people!
    by /u/Theonlyeasyday on April 23, 2019 at 10:31 am

    I am writing an in-depth article about the Lightning Network. I want it to be comprehensive and balanced, educating people on the state of LN, how it works, as wellas on current internal debates over its directions and concerns. I generally publish on Medium (@noamlevenson). Currently, I’ve read everything I could on the LN, including criticisms and responses to those criticisms and so on. Before I publish my article, I want to post my conclusions here for anyone to present any counter-arguments. Please do so. The first challenge that I see forming in regards to the LN is the difficulty in maintaining a network “map.” Nodes need a topology in order to route transactions. Problems with this are both the eventual enormous size of the topology and the number of messages that would need to be sent in order to determine the topology. I see two solutions: one, we only use the network for microtransactions and those transactions with few “hops.” Or two, we rely on centralized hubs that maintain the network for us. 1.a. However, I also recognize that we might not need to find the most optimal route - “good enough” might work. But can we achieve good enough without relying on centralized hubs? 1.b. How do LN wallets today manage to route messages? Do they maintain a network map? What is the anticipated consequence of a network with millions of users? 1.c. Additionally, what happens if, when using onion routing, an offline node is encountered? Doesn’t the end destination need to be revealed if a new path is to be determined? In other words, won't the onion encryption need to unwrapped? Obviously the hub and spoke model of the network comes under a lot of attack. I do think that to some degree this is an eventual reality of the network. I don’t think this would be the end-all of the LN if it does occur. However, it introduces the following risks: 2.a. Rising costs of BTC onchain transactions give hubs more power over individuals. This is especially relevant to any transactions that fall under the “dust” level of BTC (i.e. the cost of onchain transactions). If a transaction falls under this metric, time lock hashes cannot be used and the transaction ceases to be “trustless.” At this point, hubs could refuse to route funds (after the funds were locked), unless certain criteria were met (holding the funds hostage). If the user didn’t consent, they could withdraw their funds, but the user would lose all the money in the onchain transaction (because the whole sum would be "dust" and would go to paying the miner). Additionally, it could be very costly to execute an onchain transaction to open up a channel with a different hub, preventing people from switching to another hub if the hub proved untrustworthy. Splicing is nice for other things, but I don’t think splicing would solve this issue at all. Fractional-teller-banking presents a serious problem, again highlighting why an unscalable layer 1 will impact layer 2 solutions. If everyone on the LN wants to withdraw their funds (a “run”), the BTC onchain validators would be overwhelmed. Now, this isn’t a huge issue as eventually, the network will process through the waiting transactions. However, if users try to push old “states” from channels onto the main chain to steal from users, then a problem results. Because of the network lag, the counterparty might fail to push a “breach remedy transaction” (i.e. a transaction invalidating the “old” state and preventing the fraud.). But because these remedy transactions must be submitted in a timely manner, a backlogged BTC core layer could prevent the transaction from being processed in time and lead to the success of the fraudulent party. My conclusion: Ultimately, the LN as a layer 2 solution relies on layer 1: i.e. the BTC core protocol. I think that there is a place for the LN, but it doesn’t remove the necessity of scaling BTC’s layer 1 and ensuring that fees stay reasonable. The LN has solid use cases, but not nearly as many as people think. And ultimately, it is certainly not a solution to a crippled BTC network — but only, in the best case scenario, a complimentary service for niche use cases. I don't see the LN ever being the global payment network that some people envision. Looking forward to your responses! submitted by /u/Theonlyeasyday [link] [comments […]

  • My Bitcoin Cash Story - Feelings Of Betrayal And Anger
    by /u/MobTwo on April 23, 2019 at 10:23 am

    submitted by /u/MobTwo [link] [comments […]

  • Frequently Asked Questions and Information Thread
    by /u/BitcoinXio on October 4, 2018 at 8:23 pm

    This FAQ and information thread serves to inform both new and existing users about common Bitcoin topics that readers coming to this Bitcoin subreddit may have. This is a living and breathing document, which will change over time. If you have suggestions on how to change it, please comment below or message the mods. What is /r/btc? The /r/btc reddit community was originally created as a community to discuss bitcoin. It quickly gained momentum in August 2015 when the bitcoin block size debate heightened. On the legacy /r/bitcoin subreddit it was discovered that moderators were heavily censoring discussions that were not inline with their own opinions. Once realized, the subreddit subscribers began to openly question the censorship which led to thousands of redditors being banned from the /r/bitcoin subreddit. A large number of redditors switched to other subreddits such as /r/bitcoin_uncensored and /r/btc. For a run-down on the history of censorship, please read A (brief and incomplete) history of censorship in /r/bitcoin by John Blocke and /r/Bitcoin Censorship, Revisted by John Blocke. As yet another example, /r/bitcoin censored 5,683 posts and comments just in the month of September 2017 alone. This shows the sheer magnitude of censorship that is happening, which continues to this day. Read a synopsis of /r/bitcoin to get the full story and a complete understanding of why people are so upset with /r/bitcoin's censorship. Further reading can be found here with a giant collection of information regarding these topics. Why is censorship bad for Bitcoin? As demonstrated above, censorship has become prevalent in almost all of the major Bitcoin communication channels. The impacts of censorship in Bitcoin are very real. "Censorship can really hinder a society if it is bad enough. Because media is such a large part of people’s lives today and it is the source of basically all information, if the information is not being given in full or truthfully then the society is left uneducated [...] Censorship is probably the number one way to lower people’s right to freedom of speech." By censoring certain topics and specific words, people in these Bitcoin communication channels are literally being brain washed into thinking a certain way, molding the reader in a way that they desire; this has a lasting impact especially on users who are new to Bitcoin. Censoring in Bitcoin is the direct opposite of what the spirit of Bitcoin is, and should be condemned anytime it occurs. Also, it's important to think critically and independently, and have an open mind. What is the goal of /r/btc? This subreddit is a diverse community dedicated to the success of bitcoin. /r/btc honors the spirit and nature of Bitcoin being a place for open and free discussion about Bitcoin without the interference of moderators. Subscribers at anytime can look at and review the public moderator logs. This subreddit does have rules as mandated by reddit that we must follow plus a couple of rules of our own. Make sure to read the /r/btc wiki for more information and resources about this subreddit which includes information such as the benefits of Bitcoin, how to get started with Bitcoin, and more. What is Bitcoin? Bitcoin is a digital currency, also called a virtual currency, which can be transacted for a low-cost nearly instantly from anywhere in the world. Bitcoin also powers the blockchain, which is a public immutable and decentralized global ledger. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. There is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank. Read the Bitcoin whitepaper to further understand the schematics of how Bitcoin works. What is Bitcoin Cash? Bitcoin Cash (ticker symbol: BCH) is an updated version of Bitcoin which solves the scaling problems that have been plaguing Bitcoin Core (ticker symbol: BTC) for years. Bitcoin (BCH) is just a continuation of the Bitcoin project that allows for bigger blocks which will give way to more growth and adoption. You can read more about Bitcoin on or read What is Bitcoin Cash for additional details. How do I buy Bitcoin? You can buy Bitcoin on an exchange or with a brokerage. If you're looking to buy, you can buy Bitcoin with your credit card to get started quickly and safely. There are several others places to buy Bitcoin too; please check the sidebar under brokers, exchanges, and trading for other go-to service providers to begin buying and trading Bitcoin. Make sure to do your homework first before choosing an exchange to ensure you are choosing the right one for you. How do I store my Bitcoin securely? After the initial step of buying your first Bitcoin, you will need a Bitcoin wallet to secure your Bitcoin. Knowing which Bitcoin wallet to choose is the second most important step in becoming a Bitcoin user. Since you are investing funds into Bitcoin, choosing the right Bitcoin wallet for you is a critical step that shouldn’t be taken lightly. Use this guide to help you choose the right wallet for you. Check the sidebar under Bitcoin wallets to get started and find a wallet that you can store your Bitcoin in. Why is my transaction taking so long to process? Bitcoin transactions typically confirm in ~10 minutes. A confirmation means that the Bitcoin transaction has been verified by the network through the process known as mining. Once a transaction is confirmed, it cannot be reversed or double spent. Transactions are included in blocks. If you have sent out a Bitcoin transaction and it’s delayed, chances are the fee you used wasn’t enough to out-compete others causing it to be backlogged. The transaction won’t confirm until it clears the backlog. This typically occurs when using the Bitcoin Core (BTC) blockchain due to poor central planning. If you are using Bitcoin (BCH), you shouldn't encounter these problems as the block limits have been raised to accommodate a massive amount of volume freeing up space and lowering transaction costs. Why does my transaction cost so much, I thought Bitcoin was supposed to be cheap? As described above, transaction fees have spiked on the Bitcoin Core (BTC) blockchain mainly due to a limit on transaction space. This has created what is called a fee market, which has primarily been a premature artificially induced price increase on transaction fees due to the limited amount of block space available (supply vs. demand). The original plan was for fees to help secure the network when the block reward decreased and eventually stopped, but the plan was not to reach that point until some time in the future, around the year 2140. This original plan was restored with Bitcoin (BCH) where fees are typically less than a single penny per transaction. What is the block size limit? The original Bitcoin client didn’t have a block size cap, however was limited to 32MB due to the Bitcoin protocol message size constraint. However, in July 2010 Bitcoin’s creator Satoshi Nakamoto introduced a temporary 1MB limit as an anti-DDoS measure. The temporary measure from Satoshi Nakamoto was made clear three months later when Satoshi said the block size limit can be increased again by phasing it in when it’s needed (when the demand arises). When introducing Bitcoin on the cryptography mailing list in 2008, Satoshi said that scaling to Visa levels “would probably not seem like a big deal.” What is the block size debate all about anyways? The block size debate boils down to different sets of users who are trying to come to consensus on the best way to scale Bitcoin for growth and success. Scaling Bitcoin has actually been a topic of discussion since Bitcoin was first released in 2008; for example you can read how Satoshi Nakamoto was asked about scaling here and how he thought at the time it would be addressed. Fortunately Bitcoin has seen tremendous growth and by the year 2013, scaling Bitcoin had became a hot topic. For a run down on the history of scaling and how we got to where we are today, see the Block size limit debate history lesson post. What is a hard fork? A hard fork is when a block is broadcast under a new and different set of protocol rules which is accepted by nodes that have upgraded to support the new protocol. In this case, Bitcoin diverges from a single blockchain to two separate blockchains (a majority chain and a minority chain). What is a soft fork? A soft fork is when a block is broadcast under a new and different set of protocol rules, but the difference is that nodes don’t realize the rules have changed, and continue to accept blocks created by the newer nodes. Some argue that soft forks are bad because they trick old-unupdated nodes into believing transactions are valid, when they may not actually be valid. This can also be defined as coercion, as explained by Vitalik Buterin. Doesn't it hurt decentralization if we increase the block size? Some argue that by lifting the limit on transaction space, that the cost of validating transactions on individual nodes will increase to the point where people will not be able to run nodes individually, giving way to centralization. This is a false dilemma because at this time there is no proven metric to quantify decentralization; although it has been shown that the current level of decentralization will remain with or without a block size increase. It's a logical fallacy to believe that decentralization only exists when you have people all over the world running full nodes. The reality is that only people with the income to sustain running a full node (even at 1MB) will be doing it. So whether it's 1MB, 2MB, or 32MB, the costs of doing business is negligible for the people who can already do it. If the block size limit is removed, this will also allow for more users worldwide to use and transact introducing the likelihood of having more individual node operators. Decentralization is not a metric, it's a tool or direction. This is a good video describing the direction of how decentralization should look. Additionally, the effects of increasing the block capacity beyond 1MB has been studied with results showing that up to 4MB is safe and will not hurt decentralization (Cornell paper, PDF). Other papers also show that no block size limit is safe (Peter Rizun, PDF). Lastly, through an informal survey among all top Bitcoin miners, many agreed that a block size increase between 2-4MB is acceptable. What now? Bitcoin is a fluid ever changing system. If you want to keep up with Bitcoin, we suggest that you subscribe to /r/btc and stay in the loop here, as well as other places to get a healthy dose of perspective from different sources. Also, check the sidebar for additional resources. Have more questions? Submit a post and ask your peers for help! submitted by /u/BitcoinXio [link] [comments […]


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