timepad

u/timepad



r/btc•

The post: https://archive.is/lOJQr

This is exactly what big-blockers warned about years ago. Small blocks lead directly to custodial ownership of coins. Small blocks do nothing to disrupt finance.

Fortunately, we have enough principled people that understand this and have kept the vision of actual p2p cash alive through BCH.

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r/btc•

I recently received a message that I had been added as an approved user for the subreddit r/xmr_fans. This subreddit contains only a few posts, which are all effectively ads for a coin called "wownero". One of the posts contains the following offer (screenshot):

How do I claim benefits of investing in WOW?

Simply buy WOW on any exchange listed here https://coinmarketcap.com/currencies/wownero/markets/. After you buy WOW, please send the transaction id to u/jwinterm and don't forget to join us on r/wownero

What benefits can I claim?

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r/btc•

Source: https://bitcoinfees.earn.com. As I write this, the status is: "The fastest and cheapest transaction fee is currently 230 satoshis/byte"

As BTC fees continue to skyrocket, please remember that this is the direct result of BTC's fixed block-size limit policy.

This is basic Econ 101 stuff. When you introduce a supply ceiling below the market equilibrium, the price of the good being limited rises. BTC's tiny block-size limit is a supply ceiling, and the outrageous fees that BTC users must pay are the direct result it.

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r/btc•

For me,

  • using the bitcoin dot org web presence as a platform to convince users to use your competing small-block version of "bitcoin"
  • while manipulating new users who might not know anything about bitcoin, and telling them that high fees on a blockchain are normal
  • while using vote manipulation on social media
  • while actually attacking big-blockers via ddos attacks and black-hat zero-day exploits
  • while taking over and crippling the
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r/btc•

I appears that some entity with malevolent intent exploited a mempool-validation bug present in ABC at the exact time of the scheduled hard-fork. The intent of this attack is clear: cause maximum damage to BCH, and attempt to discredit all hard-forks by making it look like hard-forks cause chaos.

It's worth re-iterating: the exploit had nothing to do with the hard-fork. The attackers simply sat on an old vulnerability for months, waiting to exploit it at the same time as the hard-fork.

This exploit required expertise to discover. Whoever was behind this attack is either a security researcher themselves, or they've hired security researchers. This type of expertise isn't cheap.

Regardless

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r/btc•

source: https://bitcoinfees.earn.com/

This is this highest the recommended fee has been in recent memory. However, I suspect this is only the beginning. During the bull run of late 2017, we saw the recommended fee soar to as high as 990 satoshis/byte. I predict that in a few weeks time, 100 satoshis/byte will look incredibly cheap.

This time is different though: the market has a release valve in the form of Bitcoin Cash. During the last fee-event/bull-market, BCH was just getting started - it was still unproven. This time, BCH is battle-hardened, having withstood a massive divide-and-conquer attack. This time BCH has significantly more traction and merchant adoption.

Bottom line: risi

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r/btc•

Since Cobra again wants to update the Bitcoin whitepaper, I've gone ahead and helped him get started with the abstract:


Bitcoin Core: A Hub-to-Hub Electronic Settlement System

 

Satoshi Nakamoto Bitcoin's Creator

The Bitcoin Core Developers

 

Abstract. A purely hub-to-hub version of electronic cash would allow financial institutions to remain relevant in the age of peer-to-peer cash. Crippling existing p2p cash systems provide part of the solution, but the main benefits are lost if users can simply migrate to other p2p cash systems. We propose a solution to the p2p cash problem using a hub-t

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r/btc•

Control is necessary for a closed society in the electronic age. Control is power.

We the Corepunks are dedicated to controlling decentralized systems. We are defending our control with censorship, with anonymous DDoS attacks, with shills, and with as much disinformation as we can spread.

Corepunks maintain code. We know that whoever maintains the code obtains control, so we're going to maintain it. We don't much care if you don't approve of the software we maintain. We know that software can't be destroyed and that a widely dispersed system can't be shut down - but it can be controlled.

Corepunks adore regulations, for regulations grant us control. We happily beg the SEC to regulate cryp

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