The resolution of the Bitcoin experiment by Mike Hearn ...

PSA: Someone is using a bot to downvote everything in this subreddit. For newcomers, please know that Bitcoin Cash has been under attacked for the last 4 years because Bitcoin Cash, a global peer to peer cash system, is a threat to banks and fiat currencies.

For any newbies coming here wondering why someone is running a downvote bot in this subreddit (among other attacks), I would like to spread awareness about this issue.
There are many signs that BTC has been infiltrated. When you put them all together, it starts to form a clearer picture. Here are some examples.
There is consistent trolls/harassments/smear campaigns against Bitcoin Cash the last 4 years. Who is funding all these propaganda campaigns? Who is funding these efforts to run downvote bots to disrupt this community?
In 2013, Peter Todd was paid off by a government intelligence agent to create RBF, create a propaganda video, and cripple the BTC code. Source: https://steemit.com/bitcoin/@adambalm/in-2013-peter-todd-was-paid-off-by-a-government-intelligence-agent-to-create-rbf-create-a-propaganda-video-and-cripple-the-btc
Blockstream kicking Gavin, the lead Bitcoin developer, out of Bitcoin development, successfully hijacked control over the Bitcoin github.
Mike Hearn and Gavin wanted to prevent Bitcoin from being hijacked, so they created a fork. That fork didn't survived after they were heavily DDOS. Mike Hearn was heavily character assassinated by what I believe to be orchestrated paid campaigns by Blockstream. And of course, now that Mike Hearn is gone, the character assassination campaigns are directed at Bitcoin Cash main supporters like Roger Ver. Source: https://np.reddit.com/Bitcoincash/comments/8lozww/how_bitcoin_btc_was_hijacked_and_why_bitcoin_cash/
Blockstream not honoring the Hong Kong agreement and the New York agreement they signed.
Blockstream doesn't want Bitcoin to compete with the banks. Their aim is to make Bitcoin unusable with no long term future. Source: https://www.trustnodes.com/2017/12/22/gregory-maxwell-celebrates-high-fees-300000-stuck-transactions
Samson Mow admitting in an interview that Blockstream is out for profit (in other words, the BTC holders will be milked as their cash cows, BTC miners will be driven out with Lightning Network taking its place) Source: https://www.youtube.com/watch?v=cFOmUm-_DMQ The false flag attacks where they claimed Bitcoin Cash was hacking them (but turns out Greg Maxwell was the ones doing it) Source: https://www.trustnodes.com/2017/11/22/reddit-bitcoin-mods-gregory-maxwell-accused-false-flag-bot-attack-hacking)
Hackers targeting Bitcoin Cash users stealing their tippr funds and taking over their reddit accounts Source: https://np.reddit.com/tippcomments/7naogq/tippr_on_reddit_disabled_temporarily/
Misinformation campaigns (BTC people registering bcash sites and subreddits, then trying to associate Bitcoin Cash as bcash to forums/websites they control) Source: https://np.reddit.com/btc/comments/8dd5ij/why_bitcoin_cash_users_reject_the_name_bcash_so/
Censorship to brainwash newcomers with Bitcoin misinformation and propaganda. Source: https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43
Blockstream declaring that Bitcoin is not for the poor. Source: https://np.reddit.com/btc/comments/ahzog2/reminder_bitcoin_isnt_for_people_that_live_on/
Blockstream sabotaged Bitcoin codes by reducing its functionality such as OP Return size reduction, RBF vulnerability, 1MB blocksize, etc... so that it breaks software built on top of Bitcoin.
Source (OP Return Reduction): https://np.reddit.com/btc/comments/80ycim/a_few_months_after_the_counterparty_developers/
Source (Bitcoin RBF Vulnerability): https://www.ccn.com/bitcoin-atm-double-spenders-police-need-help-identifying-four-criminals/
I was involved in some BCH projects and there had been multiple DDOS attacks and other stuff, such as flooding my inbox with few hundred thousand emails per day. I'm sure those activities are not for profit, so why are they doing it?
There are actually plenty more nasty unethical things BTC people had done which is not covered in this comment. Bitcoin Cash is an attempt to rescue what the bad actors had hijacked successfully, mainly the peer to peer cash revolution. And it won't be the last time the bad actors will try to find ways to sabotage this project.
Link: https://np.reddit.com/btc/comments/e61fyz/poll_results_are_in_53_2296_votes_have_declared/f9n5lma/
Here's my suggestion to counter these attempts at disrupting the Bitcoin Cash community. We keep onboarding more users into the Bitcoin Cash ecosystem. That's what they don't want us to do, and that's exactly what we will do.
submitted by MobTwo to btc [link] [comments]

Bitcoin Cash, the peer to peer electronic cash system, is under attack and we need your help.

TLDR: Bitcoin Cash, the peer to peer electronic cash system, shifts the dynamics of power from the elites back to the people. This is a threat to the survivability of the banks and regimes seeking to control the masses through the financial system. And there are many direct and indirect evidence (outlined below) of such bad actors trying to sabotage the peer to peer cash revolution through various means. We need your help to stand up against such saboteurs. Unity is our strength when we have to make a righteous stand against the toxic bullies and shifts the power from the elites back into the people hands. Just by speaking up and spreading awareness on this, and refusing to stay silent about it, you’re making a difference, and for that, I thank you.
This is going to be a very long post, please bear with me. And it’s a very long post precisely because the bad actors had tried so many different things to sabotage the peer to peer cash project throughout the years.
Source (OP Return Reduction): https://www.reddit.com/btc/comments/80ycim/a_few_months_after_the_counterparty_developers/
Source (Bitcoin RBF Vulnerability): https://www.ccn.com/bitcoin-atm-double-spenders-police-need-help-identifying-four-criminals/
The global banking elites control over trillion dollars in assets. They can afford to throw few million dollars each day to protect their massive business empires. If I were them, I would make the same choice. It’s a no brainer. They don’t have to win; each day they sabotage the adoption of peer to peer cash, their trillion dollars empire survive another day while the rest of the population suffers.
There are actually plenty more nasty unethical things BTC bullies had done which is not covered here. Bitcoin Cash is an attempt to rescue what the bad actors had hijacked successfully, mainly the peer to peer cash revolution. And it won't be the last time the bad actors will try to find ways to sabotage this project. And we need your help. Bitcoin Cash does not care if you are black, white, Asian, male, female, American, Iranian, Chinese… We are about bringing economic freedom and financial sovereignty to the world, increasing quality of lives to everyone and putting the power back into the people hands. We are in this together. It can be really uncomfortable being ahead of the crowd in this peer to peer cash revolution, but when you have the truth at your side, all these naysayers screaming “bcash btrash” has little power over us.
Update 1: Fixed an inaccuracy and added few other items which I missed out.
submitted by MobTwo to btc [link] [comments]

For any newbies coming here wondering why there is so much pro-Bitcoin Core propaganda and lies propagated here, I would like to spread awareness about this issue,

For any newbies coming here wondering why there is so much pro-Bitcoin Core propaganda and lies, propagated by trolls such as OP, I would like to spread awareness about this issue,
There are many signs that BTC has been infiltrated. When you put them all together, it starts to form a clearer picture. Here are some examples.
There is consistent trolls/harassments/smear campaigns against Bitcoin Cash the last 2 years. Who is funding all these propaganda campaigns?
In 2013, Peter Todd was paid off by a government intelligence agent to create RBF, create a propaganda video, and cripple the BTC code. Source: https://steemit.com/bitcoin/@adambalm/in-2013-peter-todd-was-paid-off-by-a-government-intelligence-agent-to-create-rbf-create-a-propaganda-video-and-cripple-the-btc
Blockstream kicking Gavin, the lead Bitcoin developer, out of Bitcoin development, successfully hijacked control over the Bitcoin github.
Mike Hearn and Gavin wanted to prevent Bitcoin from being hijacked, so they created a fork. That fork didn't survived after they were heavily DDOS. Mike Hearn was heavily character assassinated by what I believe to be orchestrated paid campaigns by Blockstream. And of course, now that Mike Hearn is gone, the character assassination campaigns are directed at Bitcoin Cash main supporters like Roger Ver. Source: https://www.reddit.com/Bitcoincash/comments/8lozww/how_bitcoin_btc_was_hijacked_and_why_bitcoin_cash/
Blockstream not honoring the Hong Kong agreement and the New York agreement they signed.
Blockstream doesn't want Bitcoin to compete with the banks. Their aim is to make Bitcoin unusable with no long term future. Source: https://www.trustnodes.com/2017/12/22/gregory-maxwell-celebrates-high-fees-300000-stuck-transactions
Samson Mow admitting in an interview that Blockstream is out for profit (in other words, the BTC holders will be milked as their cash cows, BTC miners will be driven out with Lightning Network taking its place) Source: https://www.youtube.com/watch?v=cFOmUm-_DMQ The false flag attacks where they claimed Bitcoin Cash was hacking them (but turns out Greg Maxwell was the ones doing it) Source: https://www.trustnodes.com/2017/11/22/reddit-bitcoin-mods-gregory-maxwell-accused-false-flag-bot-attack-hacking)
Hackers targeting Bitcoin Cash users stealing their tippr funds and taking over their reddit accounts Source: https://www.reddit.com/tippcomments/7naogq/tippr_on_reddit_disabled_temporarily/
Misinformation campaigns (BTC people registering bcash sites and subreddits, then trying to associate Bitcoin Cash as bcash to forums/websites they control) Source: https://www.reddit.com/btc/comments/8dd5ij/why_bitcoin_cash_users_reject_the_name_bcash_so/
Censorship to brainwash newcomers with Bitcoin misinformation and propaganda. Source: https://medium.com/@johnblocke/a-brief-and-incomplete-history-of-censorship-in-r-bitcoin-c85a290fe43
Blockstream declaring that Bitcoin is not for the poor. Source: https://www.reddit.com/btc/comments/ahzog2/reminder_bitcoin_isnt_for_people_that_live_on/
Blockstream sabotaged Bitcoin codes by reducing its functionality such as OP Return size reduction, RBF vulnerability, 1MB blocksize, etc... so that it breaks software built on top of Bitcoin.
Source (OP Return Reduction): https://www.reddit.com/btc/comments/80ycim/a_few_months_after_the_counterparty_developers/
Source (Bitcoin RBF Vulnerability): https://www.ccn.com/bitcoin-atm-double-spenders-police-need-help-identifying-four-criminals/
I was involved in some BCH projects and there had been multiple DDOS attacks and other stuff, such as flooding my inbox with few hundred thousand emails per day. I'm sure those activities are not for profit, so why are they doing it?
There are actually plenty more nasty unethical things BTC people had done which is not covered in this comment. Bitcoin Cash is an attempt to rescue what the bad actors had hijacked successfully, mainly the peer to peer cash revolution. And it won't be the last time the bad actors will try to find ways to sabotage this project.
Source by user mobTwo
submitted by MemoryDealers to btc [link] [comments]

Bitcoin Cash, the peer to peer electronic cash system, is under attack and we need your help.

TLDR: Bitcoin Cash, the peer to peer electronic cash system, shifts the dynamics of power from the elites back to the people. This is a threat to the survivability of the banks and regimes seeking to control the masses through the financial system. And there are many direct and indirect evidence (outlined below) of such bad actors trying to sabotage the peer to peer cash revolution through various means. We need your help to stand up against such saboteurs. Unity is our strength when we have to make a righteous stand against the toxic bullies and shifts the power from the elites back into the people hands. Just by speaking up and spreading awareness on this, and refusing to stay silent about it, you’re making a difference, and for that, I thank you.
This is going to be a very long post, please bear with me. And it’s a very long post precisely because the bad actors had tried so many different things to sabotage the peer to peer cash project throughout the years.
Source (OP Return Reduction): https://www.reddit.com/btc/comments/80ycim/a_few_months_after_the_counterparty_developers/
Source (Bitcoin RBF Vulnerability): https://www.ccn.com/bitcoin-atm-double-spenders-police-need-help-identifying-four-criminals/
The global banking elites control over trillion dollars in assets. They can afford to throw few million dollars each day to protect their massive business empires. If I were them, I would make the same choice. It’s a no brainer. They don’t have to win; each day they sabotage the adoption of peer to peer cash, their trillion dollars empire survive another day while the rest of the population suffers.
There are actually plenty more nasty unethical things BTC bullies had done which is not covered here. Bitcoin Cash is an attempt to rescue what the bad actors had hijacked successfully, mainly the peer to peer cash revolution. And it won't be the last time the bad actors will try to find ways to sabotage this project. And we need your help. Bitcoin Cash does not care if you are black, white, Asian, male, female, American, Iranian, Chinese… We are about bringing economic freedom and financial sovereignty to the world, increasing quality of lives to everyone and putting the power back into the people hands. We are in this together. It can be really uncomfortable being ahead of the crowd in this peer to peer cash revolution, but when you have the truth at your side, all these naysayers screaming “bcash btrash” has little power over us.
Update 1: Fixed an inaccuracy and added few other items which I missed out.
submitted by MobTwo to Bitcoincash [link] [comments]

I recently recounted the history of the block size controversy for someone and thought I'd repost it here

Bitcoin development was initially led by an anonymous figure named Satoshi Nakamoto who created the project "Bitcoin: a Peer-to-peer Electronic Cash System"
The project mostly languished in obscurity until in late 2010 it was revealed that Bitcoin was being used to evade the ban on Wikileaks contributions. (A good summary of Bitcoin's early history can be found here.)
Satoshi was opposed to Bitcoin being used for something as controversial as funding Wikileaks, and in one of his last messages, wrote "It would have been nice to get this attention in any other context. WikiLeaks has kicked the hornet's nest, and the swarm is headed towards us." (link). Satoshi vanished shortly thereafter.
When Satoshi disappeared, he left the project effectively in the control of Gavin Andresen, one of the early contributors to the project. Gavin has been characterized as something of a naive academic. It wasn't long before Gavin had been approached by the CIA and agreed to visit and do a presentation. So we know that Bitcoin was on the CIA's radar by 2011.
Bitcoin-as-introduced had an Achilles heel. To prevent a specific kind of denial-of-service attack, Satoshi had added a "block size limit" to prevent flooding attacks. Satoshi's plan was to raise the limit as usage increased. Satoshi and the early Bitcoiners such as myself did not envision that the limit might itself be a vulnerability. A near-complete history of the block size limit controversy is here. I'll attempt to summarize my experience with some references.
Now it's almost 2020, and by now we've all become much more attuned to the scope of what three-letter-agencies have been doing to manipulate social media platforms. But in 2012 that was tinfoil-hat stuff across most of the internet.
In 2012, the Bitcoin subreddit was one of the key places people went for discussion about what was happening in Bitcoin. That, and the bitcointalk forum. The history of what happened has been well documented with sources in places like here and here.
The TLDR is
Throughout all of this, Blockstream steadfastly argued that it didn't control the Bitcoin Core software. Blockstream pointed to Chaincode Labs who funded several key bitcoin developers and the MIT Media Labs "Digital Currency Initiative" who funded Gavin, Cory, and Wladimir. Gavin and Wladimir in particular had the authority to merge changes into the Bitcoin Core software and as such effectively could decide what did and did not go into the software. As an ostensibly academic organization, Gavin and Wladimir etc could act with intellectual honesty and without coercion.
Except Gavin left the Digital Currency Initiative in 2017, saying that while he wasn't pressured to quit, he "didn't want to feel obligated to any person or organization."
Fast forward to 2019, and we learn the fascinating news that the MIT Media Labs were funded in part by none other than Jeffrey Epstein, who it turns out just so happened to be a staunch advocate of the Blockstream approach. So really, Bitcoin development was corralled: Blockstream was paying a bunch of devs, and Blockstream-Friendly MIT Media Labs were paying the others.
If you're still reading this, you probably wonder what it is about the Blockstream strategy that is so "bad." Aren't they just proposing a different way to solve Bitcoin's problems?
The original idea for Bitcoin was a "peer to peer cash system" - - the idea being that if Alice wants to buy something from Bob, she can just give him some tokens - - just like cash.
The new vision of bitcoin promoted by Blockstream and Core is "store of value". Under this model, you buy Bitcoins like you might speculate on gold - you buy some and you hold it. Later, if you want to purchase something, you sell your Bitcoins for some other payment method (or use an IOU against a deposit, just like a bank), and use that for purchases.
It should be apparent after a moment of thought that the original concept (Alice hands Bob some cash which Bob can then spend how he likes) is vastly more disruptive than the model in which Alice buys Bitcoin on a government-regulated exchange, holds them hoping they'll appreciate in value, and then sells them for Euros or dollars. In model one, the currency is essentially outside the domain of gatekeepers, and could completely disintermediate the entire existing financial system just like Napster for money. In model two, Bitcoin is no more disruptive than shares of a gold fund.
submitted by jessquit to btc [link] [comments]

AMA: Ask Mike Anything

Hello again. It's been a while.
People have been emailing me about once a week or so for the last year to ask if I'm coming back to Bitcoin now that Bitcoin Cash exists. And a couple of weeks ago I was summoned on a thread called "Ask Mike Hearn Anything", but that was nothing to do with me and I was on holiday in Japan at the time. So I figured I should just answer all the different questions and answers in one place rather than keep doing it individually over email.
Firstly, thanks for the kind words on this sub. I don't take part anymore but I still visit occasionally to see what people are talking about, and the people posting nice messages is a pleasant change from three years ago.
Secondly, who am I? Some new Bitcoiners might not know.
I am Satoshi.
Just kidding. I'm not Satoshi. I was a Bitcoin developer for about five years, from 2010-2015. I was also one of the first Bitcoin users, sending my first coins in April 2009 (to SN), about 4 months after the genesis block. I worked on various things:
You can see a trend here - I was always interested in developing peer to peer decentralised applications that used Bitcoin.
But what I'm best known for is my role in the block size debate/civil war, documented by Nathaniel Popper in the New York Times. I spent most of 2015 writing extensively about why various proposals from the small-block/Blockstream faction weren't going to work (e.g. on replace by fee, lightning network, what would occur if no hard fork happened, soft forks, scaling conferences etc). After Blockstream successfully took over Bitcoin Core and expelled anyone who opposed them, Gavin and I forked Bitcoin Core to create Bitcoin XT, the first alternative node implementation to gain any serious usage. The creation of XT led to the imposition of censorship across all Bitcoin discussion forums and news outlets, resulted in the creation of this sub, and Core supporters paid a botnet operator to force XT nodes offline with DDoS attacks. They also convinced the miners and wider community to do nothing for years, resulting in the eventual overload of the main network.
I left the project at the start of 2016, documenting my reasons and what I expected to happen in my final essay on Bitcoin in which I said I considered it a failed experiment. Along with the article in the New York Times this pierced the censorship, made the wider world aware of what was going on, and thus my last gift to the community was a 20% drop in price (it soon recovered).

The last two years

Left Bitcoin ... but not decentralisation. After all that went down I started a new project called Corda. You can think of Corda as Bitcoin++, but modified for industrial use cases where a decentralised p2p database is more immediately useful than a new coin.
Corda incorporates many ideas I had back when I was working on Bitcoin but couldn't implement due to lack of time, resources, because of ideological wars or because they were too technically radical for the community. So even though it's doesn't provide a new cryptocurrency out of the box, it might be interesting for the Bitcoin Cash community to study anyway. By resigning myself to Bitcoin's fate and joining R3 I could go back to the drawing board and design with a lot more freedom, creating something inspired by Bitcoin's protocol but incorporating all the experience we gained writing Bitcoin apps over the years.
The most common question I'm asked is whether I'd come back and work on Bitcoin again. The obvious followup question is - come back and work on what? If you want to see some of the ideas I'd have been exploring if things had worked out differently, go read the Corda tech white paper. Here's a few of the things it might be worth asking about:
I don't plan on returning to Bitcoin but if you'd like to know what sort of things I'd have been researching or doing, ask about these things.
edit: Richard pointed out some essays he wrote that might be useful, Enterprise blockchains for cryptocurrency experts and New to Corda? Start here!
submitted by mike_hearn to btc [link] [comments]

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

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

Top Submitters' Top Submissions

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

Top Commenters

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

Top Submissions

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

Top Comments

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

B(TC)itcoin is slow || My small and humble contribution

https://panzadura.github.io/B(TC)itcoin-is-slow/itcoin-is-slow/)

This is my small and (very) humble contribution: *English is not my first language so I apologize for spelling mistakes and inaccuracies.

B(TC)itcoin is slow

Bitcoin is slow because the block size was left at 1MB - 2MB with Witness Data on the SEGWIT network - after throwing the entire "team" developer of GitHub and being occupied by developers of what is now known as Blockstream.
This size has been maintained and keeps referring to two issues: Mining in China and the decentralization of the nodes or transaction validators that you point out in the article.

Mining in China occupies a good part of the pie that miners distribute - in turn these are the ones that confirm the transactions and undermine the blocks - since 2011 and these Chinese farms are behind something that in the West call "The Great Firewall "that prevents a stable connection and slows down the propagation of the block, its mining and confirmation of the transaction over 3 minutes [1] [2] causing a large part of the mining coming from China and therefore the power of 'Hash' decreased drastically affecting the security of Bitcoin; The less Hash the greater the possibility of being attacked by the Bitcoin network through a 51% attack that could cause double spending - although this gives rise to many debates since the 51% attack on an already "mature" network like Bitcoin requires a Considerable expenditure on mining equipment to control 51% of the mining power and receiving the block reward and the commissions for confirmed transfer on each block would make it less likely that said miner or mining group would like to make a double expense upon receiving sufficient economic compensation. So only a malicious agent with the intentions of destroying the network and assuming the total losses on the investment of equipment would be willing to carry out such operation. Possibilities exist but these are reduced by being the miner compensated for their activity.

In the same references to Chinese mining farms but in another more economical field; Bitcoin has 21 million that are obtained through mining and commissions on transfers. These 21 million are achieved over time and from there it becomes a deflationary element as there is no possibility of printing more coins. The question of the Bitcoin block costly and the influence of Chinese mining goes through the Bitcoin subsidy or, currently called as, block reward: When a miner puts a block in the chain he receives the Bitcoin reward that is "inside" "of that block and which is currently encrypted in 12.5. Every 210000 blocks the reward is reduced by half so in less than a year (312 days from today [3]) it will be reduced to 6.25 so the miners will see their subsidy fall in half unless Bitcoin's price per coin increases considerably or the mining farms begin to close or reduce mining equipment thus decreasing the power of the network's Hash. If Bitcoin reduces by half every 210000 blocks the subsidy per block to miners will come a time when they can only live and maintain their equipment for transaction fees and in a Bitcoin network with 7 transactions per second and a commission that tends to Increase the higher the number of movements in it makes it unfeasible for miners to continue in said 1MB network and above all that people want to use this payment method that is expensive and slow - more even than gold paper - Because remember that Bitcoin born as Peer 2 peer cash, not gold-.
Therefore, if in time the subsidy or reward is going to be 0 or unable to cover the mining equipment expense, it is necessary to find a solution if the developers do not want to touch the block size. And this goes through three issues already raised in BIPs and about the community: RPF (Replace By Fee), Lightning Network and Increase in the number of Bitcoin since the demand for Bitcoin does not rise because it offers a quality service but for security and above all for the manipulation of Tether (USDT) and the large exchange houses:

- The RBF consists in the substitution of a transaction without confirmations for another that would replace it with a higher commission eliminating the previous one of the mempool - the limbo of the transactions to be confirmed in Bitcoin -. Although this system seems effective, it does not eliminate the long-term problem of continuing to maintain the reduced block, but rather removes the problem of financing miners, but does not eliminate it and, above all, kills the operation of Bitcoin transactions by not eliminating the increase in commissions that would distance the user from its use. In addition to more easily allowing double spending [4] [5].

- Lightning Network is a side-chain or second layer, that is, a software development not implemented in the Bitcoin network itself and therefore is not an element of the block chain so this should already be repudiated since being a External and non-auditable element such as Bitcoin gives rise to "blanks" and therefore lack of existence and possibility of auditing accounts [6] and even the loss of money or cancellation of the transaction [7] [8]. It also faces the problem of routing since in a network in constant change with the openings and closures of payment channels it is unfeasible to establish a total and rapid diffusion to the nodes of LN - other than those of Bitcoin - so it comes into play Another new element of this network is the watchtowers in charge of ensuring compliance in open channels and over the entire LN network of payments. Obviously it requires an additional cost to hire this service and it is not yet implemented [9] and taking into account the pace at which Lightning Network is developed, it is doubtful that it will become available [10]. In short, to use properly - which is not successful - LN you need a node valued at $ 300 [11], a watchtower, have a channel open 24/7 and with sufficient funds to carry out transactions [12] [13] [14] .

- The increase in the Bitcoin offer was raised fleetingly by developer Peter Todd [15] [16] and will become an open debate in a few years when the mining block reward is low and the price of Bitcoin cannot be sustained only with uncontrolled printing of Tether and the manipulation on the price of the currency [17] [18] next to the collusion of the exchange houses headed by BitFinex [19] and personalities of the world 'crypto' [20] - if he survives long enough to see that moment since they are already behind Bitfinex for money laundering [21]. When that moment arrives I am sure that a BIP - Bitcoin Improvement Proposal - will be launched by Blockstream or directly notified of the measure destroying the essence of Bitcoin and the TRUE DECENTRALIZATION: THE PROTOCOL.

This brings us to the second reason for the slowness of Bitcoin. The correct and true decentralization goes through the code and the team of developers and maintainers, not any other. The protocol must be engraved in stone [22] and that the action of the miners distribute and decentralize the network and they maintain the nodes and the transactions in a completely capitalist economic relationship. Investing in machines and communication improves access, speed and spread of transactions and blocks and makes miners true competitors as well as facilitating the transmission of money and all kinds of transactions [22].
The decentralization of the nodes was the other great reason to prevent the increase of the block and therefore the speed in the transaction. It is based on a false premise to base the decentralization of Bitcoin - which is nowhere on the whitepaper - on the raspberry nodes. The dispersion of the transaction and all the stages of the transaction and the blocks depend on the miner and his team, as well as the search for excellence in communications to avoid orphan blocks - which are stipulated in the Nakamoto consensus and are part of Bitcoin and not they throw no problem in the transactions only in the resolution of the reward of the block that affects the miners and should seek greater efficiency - and reorganizations. The audit on the Bitcoin network can be perfectly performed without there being a Bitcoin node in each house, in fact it would cause the same routing problems that occur / will occur in the LN network.
Decentralization should not go through nodes but through developers and to a lesser extent by miners. If a protocol is continually being altered by developers they have the power of the network and it must be in constant struggle by the miners through the commission on transactions.

Due to these two factors, the BIP0101 proposed by the developers that Satoshi left in charge [23] and that originated the creation of Bitcoin Unlimited was rejected, later it was attacked due to its recent creation through DDoS attacks in a statement of intentions of the network Blockstream bitcoin [24] [25] remaining as a residual element.

These two reasons are the cause of the drowning suffered by the Bitcoin network - including many other elements that were eliminated and that corresponded to the initial code completely changing the nature and destiny of Bitcoin that are not relevant and I will not enumerate -, Any other reason is propaganda by those who want to keep Bitcoin drowned in order to enrich themselves with mining sub-subsidies and second-layer software like LN. Bitcoin has a structure similar to gold and can collect certain attributes of it but its destination in efficient and fast transmission as effective - among other transactions.

Bitcoin was designed to professionalize miners and create a new industry around them, so mining centers will become datacenters [26] and they will replicate all transaction logs and even this professionalization will eventually lead to specialization in other types of transactions born new industries around you that will support the nodes according to specialization - Data, asset transfers, money, property rights, etc ... -

Bitcoin scales to infinity if they leave the protocol FREE enough to do so.

P.D: Core, since the departure of Hearn and Andersen, they know perfectly well what they are doing: The worst breed from the Cyberpunk movement has been combined with the worst breed of the current synarchy; The ends always touch.

[1] https://np.reddit.com/btc/comments/3ygo96/blocksize_consensus_census/cye0bmt/
[2] https://www.youtube.com/watch?v=ivgxcEOyWNs&feature=youtu.be&t=2h36m20s
[3] https://www.bitcoinblockhalf.com/
[4] https://petertodd.org/2016/are-wallets-ready-for-rbf
[5] https://www.ccn.com/bitcoin-atm-double-spenders-police-need-help-identifying-four-criminals/
[6] https://bitcointalk.org/index.php?topic=4905430.0
[7]https://www.trustnodes.com/2018/03/26/lightning-network-user-loses-funds || https://www.trustnodes.com/2019/03/13/lightning-network-has-many-routing-problems-says-lead-dev-at-lightning-labs
[8] https://diar.co/volume-2-issue-25/
[9] https://blockonomi.com/watchtowers-bitcoin-lightning-network/
[10] https://twitter.com/starkness/status/676599570898419712
[11] https://store.casa/lightning-node/
[12] https://bitcoin.stackexchange.com/questions/81906/to-create-a-channel-on-the-lightning-network-do-you-have-to-execute-an-actual-t
[13] https://blog.muun.com/the-inbound-capacity-problem-in-the-lightning-network/
[14] https://medium.com/@octskyward/the-capacity-cliff-586d1bf7715e
[15] https://dashnews.org/peter-todd-argues-for-bitcoin-inflation-to-support-security/
[16] https://twitter.com/peterktodd/status/1092260891788103680
[17] https://medium.com/datadriveninvestotether-usd-is-used-to-manipulate-bitcoin-prices-94714e65ee31
[18] https://twitter.com/CryptoJetHammestatus/1149131155469455364
[19] https://www.bitrates.com/news/p/crypto-collusion-the-web-of-secrets-at-the-core-of-the-crypto-market
[20] https://archive.is/lk1lH
[21] https://iapps.courts.state.ny.us/nyscef/ViewDocument?docIndex=8W00ssb7x5ZOaj8HKFdbfQ==
[22] https://bitcointalk.org/index.php?topic=195.msg1611#msg1611
[23] https://github.com/bitcoin/bips/blob/mastebip-0101.mediawiki
[24] https://www.reddit.com/bitcoinxt/comments/3yewit/psa_if_youre_running_an_xt_node_in_stealth_mode/
[25] https://www.reddit.com/btc/comments/3yebzi/coinbase_down/
[26]https://bitcointalk.org/index.php?topic=532.msg6306#msg6306"
submitted by Knockout_SS to bitcoincashSV [link] [comments]

My thoughts on the Lightning Network and the folly that is/was Blockstream and Core

EDIT: This was taken from my Medium post here: https://medium.com/@calinaculianu/my-thoughts-on-the-lightning-network-and-the-folly-that-was-blockstream-core-4a08d8ebe711
So, the Lightning Network buzz is quite high this week with the recent announcement that it's "live" on mainnet.
And I'm seeing a lot of posts about it here on /btc and a lot of healthy (and some unhealthy) discussion about it.
In that context, I just wanted to share my thoughts on what the Lightning Network is and what it isn't, and what its potential really is and where it lacks potential.
For many of us who "defected" over to BCH in recent months, the whole saga of Bitcoin BTC and the whole crazy story of what happened since 2015 has basically revolved around the Lightning Network. We are still skeptical and we have a bitter taste in our mouths and we have varying degrees of success at articulating what we don't like about it.
To that end, I'll take a stab at articulating how I see Lightning and at explaining what I don't like about it and what I do like about it.
But before I do that: Here's the actual problem that the Lightning Network solves:
It allows for trustless, blockchain-backed high-frequency microtransactions between large institutions (or at least institutions with high liquidity). It solves that problem in a minimally acceptable fashion.
That's what the Lightning Network does. That's the problem it solves. It'll allow mid-to-large sized entities (entities with high liquidity -- such as banks and money transmitters) to send incredibly small (or incredibly large) amounts of money around between each other incredibly quickly and cheaply.
That's the problem it solves.
Here's what it doesn't do:
It doesn't actually solve the scaling problem for the use-cases that exist today and that existed back in 2015. Even though it was sold as such (to those gullible enough to believe it).
All it does is that it simply allows entities with high liquidity to move small amounts of money quickly back and forth off-chain, with no impact on tx fees on-chain (and thus with minimal cost and risk).
Potentially even fractions of a penny can circle the globe thousands of times changing hands between dozens of money transmitters and banks for free, and trustlessly because it's blockchain-backed. That's not bad. It certainly has some use-cases.
Now, had Lightning popped into existence in 2015, we would have all hailed it with great fanfare and open arms and welcomed it, wouldn't we?
Had it even popped into existence today in 2018 without the tragically destructive story behind what Core and Blockstream did to BTC -- we would still have greeted it with open arms.
But that's not what happened.
What really happened is that Core and Blockstream basically took over BTC and pushed out a lot of great, smart, competent people. They alienated large parts of the crypto ecosystem -- businesses, devs, enthusiasts. They allowed adoption to stagnate and then decline. They let the BTC blockchain get so congested that people stopped using BTC and everyone fled to alts. Their lack of vision let to the creation and success of ETH.
In their enthusiasm for pushing their agenda so aggressively, they made tons of mistakes, and are still making them. They alienated businesses, crippled Bitcoin as a means of exchange, and drove people away.
Had they had a bit more self-confidence, a bit more wisdom, and a bit more patience, Blockstream could have had their cake and eaten it too.
But they made mistakes. They were rash and immature in their approach. And they will pay the cost for that (irrelevancy and bankruptcy), but they took BTC down along with them, which is what we are ALL angry about.
(They still control the currency, by and large, and are still responsible for its ongoing steady destruction, by the way -- but who knows -- maybe BTC will be saved before it totally implodes).
There are lessons for all of us here: Namely -- how important competence is.
It's astounding how easy it is to destroy something great if you aren't careful. All the decisions Greg Maxwell and Blockstream/Core have made from 2015 up until the present day have been wrong and very bad for Bitcoin, and even terribly horribly bad for Blockstream.
What they should have done: They should have not been so fearful that Lightning absolutely needed a crippled Bitcoin for it to have a market and a use-case. They should have had the confidence and vision to realize there was room in this world for on-chain scaling and on-chain transactions, as well as high frequency micropayments via something like Lightning off-chain.
Their key mistake: Without on-chain activity -- why would anyone care to scale off-chain? Why would anyone let themselves be under the thumb of Blockstream's attempt to control the crypto market when anyone can easily fork off another coin that actually works?
So, they ultimately were small minds thinking small. As the scaling debates heated up, they only grew more obstinate and cult-like in their conviction that they were right and that they would never compromise.
As a result, they have driven users and businesses away (quite predictably).
I'm still quite amazed at how seemingly intelligent people can make the stupidest decisions. It astounds me how people that should have known better (given their above-average IQs) continued to make strategic error after strategic error.
So, they drove away the likes of Andresen and Hearn, and kept in their inner-circle a group of like-minded (and small-minded) fools that couldn't see the forest for the trees and that continued to steer the ship in the completely wrong direction. All the while drinking the kool-aid (and "champaign") and feeling content with themselves at their accomplishments
That's what Blockstream and Core did. They destroyed Bitcoin. Against their own best interests, even!
So that's why we don't like the Lightning network. Because of the history and how it was shoe-horned in as the only scaling solution. We don't like how some bad people used its promise to make stupid decisions that basically led to the destruction of Bitcoin BTC.
That's the bad taste in our mouths.
But -- Lightning itself isn't bad -- and likely it may even end up having some quite lucrative use-cases. But for that to happen, FIRST there needs to be tons of on-chain traffic. Otherwise -- why bother?
It's just tragic what happened to Bitcoin BTC in the name of the Lightning Network.
So that's why we are a little bitter. Because.. well fuck Blockstream and fuck what they did to Bitcoin BTC.
If you got this far, thanks for reading this.
submitted by NilacTheGrim to btc [link] [comments]

The Truth About Bitcoin's Loss of Market Share

There are multiple reddit users like mrxsdcuqr7x284k6 claiming or implying in this thread that Bitcoin's huge loss of market share is not a result of the Bitcoin Core small block policy.
I don't know what the exact market share of Bitcoin would be right now if Bitcoin was not successfully derailed by people like Greg Maxwell & Theymos who fought hard to stop even small block size increases. What I do know is that the huge loss of market share Bitcoin has undergone and the growth of other crypto currencies is largely the result of what they did.
Anyone who is honest & intelligent and was around before, during and after Bitcoin lost massive market share, knows that the cause of this massive loss of market share and the growth of many other cryptos was a direct result of the artificial constraining of the transaction processing capacity of Bitcoin.
This is not merely a hindsight claim. Vast numbers of Bitcoiners TOLD EVERYONE that this is what would happen if the block size was not increased.
The only people who didn't see this coming (or claimed they didn't see it coming) are the Bitcoin Core supporters from that time who promoted Greg Maxwell's alternative design for Bitcoin.

So what was the Bitcoin Core message of 2015?

Check this 2015 Bitcoin Core blog post: https://bitcoincore.org/en/2015/12/23/capacity-increases-faq/#why-upgrade
Note it says:
We don’t expect fees to get as high as the highest seen in this table; they are just provided for reference.
What is the highest listed fee in the table? $0.756
What were the highest median fees during December of 2017? OVER $30
Over just the last 6 months there have been multiple median fee spikes that go above this supposed "high" value of $0.756

What was the message of the Bitcoiners who wanted to follow Satoshi's plan during 2015?

Here's Mike Hearn in 2015 in an interview saying that the people that don't want to the block size to be increased want users to migrate to other system when the block size fills up. Whether the people he is referring to actually did want that or not is irrelevant. This is just one example (of 1000s that could be dug up) of Bitcoiners stating plainly that failure to bump the block size will lead to people migrating to other systems.
Here is what Mike Hearn predicted would happen if the block size isn't raised:
The aftermath
Bitcoin would eventually recover. Users who became frustrated at the extreme unreliability would give up and stop trying to spend their coins. Many coins would make it to an exchange wallet and stay there. Node operators would make their nodes auto-restart. SPV wallets would find some trustworthy central authority to get fee data from.
Most importantly, the overload would eventually go away …. because the users would go away. The backlog would clear. Fees would fall to the minimum again.
So life would go on.
Bitcoin would survive.
But it would have lost critical momentum. It would have become the MySpace of digital currencies. The faithful would have lost a lot of faith, and businesses that were trying to bring Bitcoin to the mainstream would “pivot” towards something else. People who were motivated by Making The World A Better Place™ would conclude the ordinary people around them would never use their products, and so they’d leave.
source
There are many details in Mike's blog post that he predicted wrong, but it's clear that he knew that the Bitcoin network would be degraded because of this fully saturated, small block policy. He knew users would leave the system.
Here's Jeff Garzik in 2015 warning people about the economic change event that will occur if the block size is not increased.
What did Gavin Andresen say would likely happen as a result of the small block policy? He said:
If the number of transactions waiting gets large enough, the end result will be an over-saturated network, busy doing nothing productive. I don’t think that is likely– it is more likely people just stop using Bitcoin because transaction confirmation becomes increasingly unreliable.
source
These are just a tiny sample of comments from prominent Bitcoiners. They are not anomalous. They are representative of what everyone fighting against this small-block policy was saying.
Please don't let these ignorant fools & gaslighting snakes deceive you or others.
I remember exactly what happened back then. I also know exactly what Bitcoin is and which chain is Bitcoin.
submitted by hapticpilot 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]

Exposed: How Bankers are trying to centralize and highjack Bitcoin by buying "supporters" and promoters (like OpenBazaar team) for the B2X (S2X/NYA) attack on Bitcoin.

*Open Bazaar was crossed-out after their S2X support retraction, see edit at bottom.
These guys have deep pockets, but as you will see below, they are funded by even deeper pockets.
We can't leave this to chance or "the markets to decide" when there is such a malicious intent to manipulate the markets by those powerful players. So that's why all the people saying: "Don't worry, S2X won't happen" or "S2X is DOA" need to stop, we are at a 'make-or-break' moment for Bitcoin. It's very dumb to underestimate them. If you don't know yet who those malicious players are, read below:
We need to keep exposing them everywhere. Using Garzik as a pawn now, after they failed when they bought Hearn and Andresen (Here are the corrupted former 'good guys'), they are using the old and effective 'Problem-Reaction-Solution' combined with the 'Divide & Conquer' strategies to try to hijack Bitcoin. Well, effective before the current social media era, in which hidden motives can be brought to the light of day to be exposed.
Public pressure works when your profits depend on your reputation. The social media criticism worked for companies like Open Bazaar, which after weeks of calling them out on their S2X support, they finally withdrew it.
Please contact the companies on these lists if you have any type of relationship with them, we have just a few days left until the fork:
Regarding OpenBazaar:
* openbazaar (OB1) developer appears to be spreading pro s2x fud. someone needs to fork their project
* PSA : Open Bazaars latest investment round was for 200K from Barry Silberts DCG (Digital Currency Group)
(See edit at the bottom)
B2X (S2X/NYA) is nothing more than an open attack on Bitcoin, not an "upgrade" as they want to sell it. This attack has no 'consensus', at all. It was "agreed" by a bunch of miners and corporations behind closed doors, with no community nor developers support. Only miners and a few millionaires that stand to profit from the B2X attack support it. The vast majority of the Bitcoin community is totally against this attack on Bitcoin. Most of those companies are under DCG group:
Every bitcoiner should know about what DCG (Digital Currency Group) is, and call out publicly these crooks and the people they bribed that are working for the Corporations/Bankers against Bitcoin:
Brian Armstrong, Winklevoss brothers, Bobby Lee, Peter Smith, Nic Cary, Haipo Yang, Rick Falkvinge, Jon Matonis, Wences Casares, Tony Gallippi, Mike Belshe, Ryan X Charles, Brian Hoffman/Sam Patterson/Chris Pacia (and all OB1 team)(see edit at the bottom), Gavin Andresen, Jeff Garzik, Mike Hearn, Roger Ver, Jihan Wu, John Mcaffe, Craig Wright, Barry Silbert, Larry Summers, Blythe Masters, Stephen Pair, Erik Voorhees, Vinny Lingham, Olivier Janssens, Jeremy Allaire, Peter Vessenes, Bruce Wagner, Brock Pierce, Aaron Voisine/Adam Traidman/Aaron Lasher (Breadwallet team), Glenn Hutchins (Federal Reserve Board of Directors), Bill Barhydt and Jiang Zhuoer.
Once people are informed, they won't be fooled (like all the poor guys at btc) and will follow Bitcoin instead of the S2X or Bcash or any other centralized altcoin they come up with disguised as Bitcoin.
DCG (Digital Currency Group) is the company spearheading the Segwit2x movement. The CEO of DCG is Barry Silbert, a former investment banker, and Mastercard is an investor in DCG.
Let's have a look at the people that control DCG:
http://dcg.co/who-we-are/
Three board members are listed, and one Board "Advisor." Three of the four Members/advisors are particularly interesting:
Glenn Hutchins: Former Advisor to President Clinton. Hutchins sits on the board of The Federal Reserve Bank of New York, where he was reelected as a Class B director for a three-year term ending December 31, 2018. Yes, you read that correctly, currently sitting board member of the Federal Reserve Bank of New York.
Barry Silbert: CEO of DCG (Digital Currency Group, funded by Mastercard) who is also an Ex investment Banker at (Houlihan Lokey)
And then there's the "Board Advisor,"
Lawrence H. Summers:
"Chief Economist at the World Bank from 1991 to 1993. In 1993, Summers was appointed Undersecretary for International Affairs of the United States Department of the Treasury under the Clinton Administration. In 1995, he was promoted to Deputy Secretary of the Treasury under his long-time political mentor Robert Rubin. In 1999, he succeeded Rubin as Secretary of the Treasury. While working for the Clinton administration Summers played a leading role in the American response to the 1994 economic crisis in Mexico, the 1997 Asian financial crisis, and the Russian financial crisis. He was also influential in the American advised privatization of the economies of the post-Soviet states, and in the deregulation of the U.S financial system, including the repeal of the Glass-Steagall Act."
https://en.wikipedia.org/wiki/Lawrence_Summers
Blythe Masters:
Former executive at JPMorgan Chase.[1] She is currently the CEO of Digital Asset Holdings,[2] a financial technology firm developing distributed ledger technology for wholesale financial services.[3] Masters is widely credited as the creator of the credit default swap as a financial instrument. She is also Chairman of the Governing Board of the Linux Foundation’s open source Hyperledger Project, member of the International Advisory Board of Santander Group, and Advisory Board Member of the US Chamber of Digital Commerce.
https://en.wikipedia.org/wiki/Blythe_Masters
Seriously....The segwit2x deal is being pushed through by a Company funded by Mastercard, Whose CEO Barry Silbert is ex investment banker, and the Board Members of DCG include a currently sitting member of the Board of the Federal Reserve Bank of New York, and the Ex chief Economist for the World Bank and a guy responsible for the removal of Glass Steagall.
It's fair to call these guys "bankers" right?
So that's the Board of DCG. They're spearheading the Segwit2x movement. As far as who is responsible for development, my research led me to "Bitgo". I checked the "Money Map" https://i.redd.it/15auzwkq3hiz.png And sure enough, DCG is an investor in Bitgo.
(BTW, make sure you take a good look take a look at the money map and bookmark it for reference later, ^ it is really helpful.)
"Currently, development is being overseen by bitcoin security startup BitGo, with help from other developers including Bloq co-founder Jeff Garzik."
https://www.coindesk.com/bitcoins-segwit2x-scaling-proposal-miners-offer-optimistic-outlook/
So Bitgo is overseeing development of Segwit2x with Jeff Garzick. Bitgo has a product/service that basically facilitates transactions and supposedly prevents double spending. It seems like their main selling point is that they insert themselves as middlemen to ensure Double spending doesn't happen, and if it does, they take the hit, of course for a fee, so it sounds sort of like the buyer protection paypal gives you:
"Using the above multi-signature security model, BitGo can guarantee that transactions cannot be double spent. When BitGo co-signs a BitGo Instant transaction, BitGo takes on a financial obligation and issues a cryptographically signed guarantee on the transaction. The recipient of a BitGo Instant transaction can rest assured that in any event where the transaction is not ultimately confirmed in the blockchain, and loses money as a result, they can file a claim and will be compensated in full by BitGo."
Source: https://www.bitgo.com/solutions
So basically, they insert themselves as middlemen, guarantee your transaction gets confirmed and take a fee. What do we need this for though when we have a working blockchain that confirms payments in the next block already? 0-conf is safe when blocks aren't full and one confirmation should really be good enough for almost anyone on the most POW chain. So if we have a fully functional blockchain, there isn't much of a need for this service is there? They're selling protection against "The transaction not being confirmed in the Blockchain" but why wouldn't the transaction be getting confirmed in the blockchain? Every transaction should be getting confirmed, that's how Bitcoin works. So in what situation does "protection against the transaction not being confirmed in the blockchain" have value?
Is it possible that the Central Bankers that control development of Segwit2x plan to restrict block size to benefit their business model just like our good friends over at Blockstream attempted to do, although unsuccessfully as they were not able to deliver a working L2 in time?
It looks like Blockstream was an attempted corporate takeover to restrict block size and push people onto their L2, essentially stealing business away from miners. They seem to have failed, but now it almost seems like the Segwit2x might be a culmination of a very similar problem.
Also worth noting these two things, pointed out by Adrian-x:
  1. MasterCard made this statement before investing in DCG and Blockstream. (Very evident at 2:50 - enemy of digital cash watch the whole thing.) https://www.youtube.com/watch?v=Tu2mofrhw58
  2. Blockstream is part of the DCG portfolio and the day after the the NYA Barry personal thanked Adam Back for his assistant in putting the agreement together. https://twitter.com/barrysilbert/status/867706595102388224
So segwit2x takes power away from core, but then gives it to guess who...Mastercard and central bankers.
So, to recap:
Did we just spend so much time fighting and bickering with core that we totally missed the REAL takeover of Bitcoin, happening right before our eyes, by the likes of currently serving Federal Reserve Bank of New York Board Members?
And before you dismiss all those hard and documented facts as just a 'conspiracy theory', think about this:
Of course, who thought that the ones holding the centralized financial power today (famous for back-door shady plots to consolidate even more power and control), would sit on their hands and let Bitcoin just stroll in and easily take that power away from them?
So, it is not a crazy conspiracy theory, but more like the logical and expected thing to happen. Don't let it happen.
Edit: Formatting.
Edit 2: Brian Armstrong taken out of the 'bad guys' list.
Edit 3: Welp, Brian Armstrong back on the blacklist for this flip-flop. And added Winklevoss Brothers for this, and Bobby Lee for this.
Edit 4: Due to Brian Hoffman just issuing this excellent and explicit S2X/NYA support retraction, I created this post to apologize for my previous posts (calling them out for the S2X support) and I will be editing my posts to reflect this positive change. I'm gladly back to being a supporter of the great and promising project that OpenBazaar has proven to be.
Edit 5: Added Blythe Masters (How could we leave her out?).
Edit 6: Added links to lists of companies supporting S2X/NYA.
submitted by readish to Bitcoin [link] [comments]

Consensus! JGarzik: "RBF would be anti-social on the network" / Charlie Lee, Coinbase : "RBF is irrational and harmful to Bitcoin" / Gavin: "RBF is a bad idea" / Adam Back: "Blowing up 0-confirm transactions is vandalism" / Hearn: RBF won't work and would be harmful for Bitcoin"

Congratulations to Peter Todd - it looks like you've achieved consensus! Everyone is against you on RBF!
Replace By Fee - A Counter-Argument, by Mike Hearn
https://medium.com/@octskyward/replace-by-fee-43edd9a1dd6d#.suzs1gu7y
Repeating past statements, it is acknowledged that Peter’s scorched earth replace-by-fee proposal is aptly named, and would be widely anti-social on the current network.
— Jeff Garzik
Coinbase fully agrees with Mike Hearn. RBF is irrational and harmful to Bitcoin.
— Charlie Lee, engineering manager at Coinbase
Replace-by-fee is a bad idea.
— Gavin Andresen
I agree with Mike & Jeff. Blowing up 0-confirm transactions is vandalism.
— Adam Back (a founder of Blockstream)
Serious question:
Why is Peter Todd allowed to merge bizarre dangerous crap like this, which nobody even asked for and which totally goes against the foundations of Bitcoin (ie, it would ENCOURAGE DOUBLE SPENDS in a protocol whose main function is to PREVENT DOUBLE SPENDS)??
Meanwhile, something that everyone wants and that was simple to implement (increased block size, hello?!?) ends up getting stalled and trolled and censored for months?
What the fuck is going on here???
After looking at Peter Todd's comments and work over the past few years, I've finally figured out the right name for what he's into - which was hinted at in the "vandalism" comment from Adam Back above.
Peter Todd is more into vandalism than programming.
Message to Peter Todd: If you want to keep insisting on trying to vandalize Bitcoin by adding weird dangerous double-spending "features" that nobody even asked for in the first place, go sabotage some alt-coin, and leave Bitcoin the fuck alone.
This is a repost for some history:
https://www.reddit.com/btc/comments/3ujc4m/consensus_jgarzik_rbf_would_be_antisocial_on_the/?utm_content=title&utm_medium=front&utm_source=reddit&utm_name=btc
submitted by defconoi to btc [link] [comments]

BTC is centralized and filled with misinformation/censorships and controlled by a single entity. However, their propaganda has worked wonders and made many people think the opposite. The fact is, Bitcoin Cash is magnitudes more decentralized...

Credits To thepaip and singularity87
TLDR: BTC is centralized and filled with misinformation/censorships and controlled by a single entity. However, their propaganda has worked wonders and made many people think the opposite. The fact is, Bitcoin Cash is magnitudes more decentralized in terms of miners, multiple independent development/research teams, etc. There are 3 things that cannot be hidden for long; the sun, the moon, and the truth. Educate yourself and spread the truth. This is the only way to make a stand against misinformation and censorships.
People should get the full story of bitcoin because it is probably one of the strangest of all reddit subs.
bitcoin, the main sub for the bitcoin community is held and run by a person who goes by the pseudonym u/theymos. Theymos not only controls bitcoin, but also bitcoin.org and bitcointalk.com. These are top three communication channels for the bitcoin community, all controlled by just one person.
For most of bitcoin's history this did not create a problem (at least not an obvious one anyway) until around mid 2015. This happened to be around the time a new player appeared on the scene, a for-profit company called Blockstream. Blockstream was made up of/hired many (but not all) of the main bitcoin developers. (To be clear, Blockstream was founded before mid 2015 but did not become publicly active until then). A lot of people, including myself, tried to point out there we're some very serious potential conflicts of interest that could arise when one single company controls most of the main developers for the biggest decentralised and distributed cryptocurrency. There were a lot of unknowns but people seemed to give them the benefit of the doubt because they were apparently about to release some new software called "sidechains" that could offer some benefits to the network.
Not long after Blockstream came on the scene the issue of bitcoin's scalability once again came to forefront of the community. This issue came within the community a number of times since bitcoins inception. Bitcoin, as dictated in the code, cannot handle any more than around 3 transactions per second at the moment. To put that in perspective Paypal handles around 15 transactions per second on average and VISA handles something like 2000 transactions per second. The discussion in the community has been around how best to allow bitcoin to scale to allow a higher number of transactions in a given amount of time. I suggest that if anyone is interested in learning more about this problem from a technical angle, they go to btc and do a search. It's a complex issue but for many who have followed bitcoin for many years, the possible solutions seem relatively obvious. Essentially, currently the limit is put in place in just a few lines of code. This was not originally present when bitcoin was first released. It was in fact put in place afterwards as a measure to stop a bloating attack on the network. Because all bitcoin transactions have to be stored forever on the bitcoin network, someone could theoretically simply transmit a large number of transactions which would have to be stored by the entire network forever. When bitcoin was released, transactions were actually for free as the only people running the network were enthusiasts. In fact a single bitcoin did not even have any specific value so it would be impossible set a fee value. This meant that a malicious person could make the size of the bitcoin ledger grow very rapidly without much/any cost which would stop people from wanting to join the network due to the resource requirements needed to store it, which at the time would have been for very little gain.
Towards the end of the summer last year, this bitcoin scaling debate surfaced again as it was becoming clear that the transaction limit for bitcoin was semi regularly being reached and that it would not be long until it would be regularly hit and the network would become congested. This was a very serious issue for a currency. Bitcoin had made progress over the years to the point of retailers starting to offer it as a payment option. Bitcoin companies like, Microsoft, Paypal, Steam and many more had began to adopt it. If the transaction limit would be constantly maxed out, the network would become unreliable and slow for users. Users and businesses would not be able to make a reliable estimate when their transaction would be confirmed by the network.
Users, developers and businesses (which at the time was pretty much the only real bitcoin subreddit) started to discuss how we should solve the problem bitcoin. There was significant support from the users and businesses behind a simple solution put forward by the developer Gavin Andreesen. Gavin was the lead developer after Satoshi Nakamoto left bitcoin and he left it in his hands. Gavin initially proposed a very simple solution of increasing the limit which was to change the few lines of code to increase the maximum number of transactions that are allowed. For most of bitcoin's history the transaction limit had been set far far higher than the number of transactions that could potentially happen on the network. The concept of increasing the limit one time was based on the fact that history had proven that no issue had been cause by this in the past.
A certain group of bitcoin developers decided that increasing the limit by this amount was too much and that it was dangerous. They said that the increased use of resources that the network would use would create centralisation pressures which could destroy the network. The theory was that a miner of the network with more resources could publish many more transactions than a competing small miner could handle and therefore the network would tend towards few large miners rather than many small miners. The group of developers who supported this theory were all developers who worked for the company Blockstream. The argument from people in support of increasing the transaction capacity by this amount was that there are always inherent centralisation pressure with bitcoin mining. For example miners who can access the cheapest electricity will tend to succeed and that bigger miners will be able to find this cheaper electricity easier. Miners who have access to the most efficient computer chips will tend to succeed and that larger miners are more likely to be able to afford the development of them. The argument from Gavin and other who supported increasing the transaction capacity by this method are essentially there are economies of scale in mining and that these economies have far bigger centralisation pressures than increased resource cost for a larger number of transactions (up to the new limit proposed). For example, at the time the total size of the blockchain was around 50GB. Even for the cost of a 500GB SSD is only $150 and would last a number of years. This is in-comparison to the $100,000's in revenue per day a miner would be making.
Various developers put forth various other proposals, including Gavin Andresen who put forth a more conservative increase that would then continue to increase over time inline with technological improvements. Some of the employees of blockstream also put forth some proposals, but all were so conservative, it would take bitcoin many decades before it could reach a scale of VISA. Even though there was significant support from the community behind Gavin's simple proposal of increasing the limit it was becoming clear certain members of the bitcoin community who were part of Blockstream were starting to become increasingly vitriolic and divisive. Gavin then teamed up with one of the other main bitcoin developers Mike Hearn and released a coded (i.e. working) version of the bitcoin software that would only activate if it was supported by a significant majority of the network. What happened next was where things really started to get weird.
After this free and open source software was released, Theymos, the person who controls all the main communication channels for the bitcoin community implemented a new moderation policy that disallowed any discussion of this new software. Specifically, if people were to discuss this software, their comments would be deleted and ultimately they would be banned temporarily or permanently. This caused chaos within the community as there was very clear support for this software at the time and it seemed our best hope for finally solving the problem and moving on. Instead a censorship campaign was started. At first it 'all' they were doing was banning and removing discussions but after a while it turned into actively manipulating the discussion. For example, if a thread was created where there was positive sentiment for increasing the transaction capacity or being negative about the moderation policies or negative about the actions of certain bitcoin developers, the mods of bitcoin would selectively change the sorting order of threads to 'controversial' so that the most support opinions would be sorted to the bottom of the thread and the most vitriolic would be sorted to the top of the thread. This was initially very transparent as it was possible to see that the most downvoted comments were at the top and some of the most upvoted were at the bottom. So they then implemented hiding the voting scores next to the users name. This made impossible to work out the sentiment of the community and when combined with selectively setting the sorting order to controversial it was possible control what information users were seeing. Also, due to the very very large number of removed comments and users it was becoming obvious the scale of censorship going on. To hide this they implemented code in their CSS for the sub that completely hid comments that they had removed so that the censorship itself was hidden. Anyone in support of scaling bitcoin were removed from the main communication channels. Theymos even proudly announced that he didn't care if he had to remove 90% of the users. He also later acknowledged that he knew he had the ability to block support of this software using the control he had over the communication channels.
While this was all going on, Blockstream and it's employees started lobbying the community by paying for conferences about scaling bitcoin, but with the very very strange rule that no decisions could be made and no complete solutions could be proposed. These conferences were likely strategically (and successfully) created to stunt support for the scaling software Gavin and Mike had released by forcing the community to take a "lets wait and see what comes from the conferences" kind of approach. Since no final solutions were allowed at these conferences, they only served to hinder and splinter the communities efforts to find a solution. As the software Gavin and Mike released called BitcoinXT gained support it started to be attacked. Users of the software were attack by DDOS. Employees of Blockstream were recommending attacks against the software, such as faking support for it, to only then drop support at the last moment to put the network in disarray. Blockstream employees were also publicly talking about suing Gavin and Mike from various different angles simply for releasing this open source software that no one was forced to run. In the end Mike Hearn decided to leave due to the way many members of the bitcoin community had treated him. This was due to the massive disinformation campaign against him on bitcoin. One of the many tactics that are used against anyone who does not support Blockstream and the bitcoin developers who work for them is that you will be targeted in a smear campaign. This has happened to a number of individuals and companies who showed support for scaling bitcoin. Theymos has threatened companies that he will ban any discussion of them on the communication channels he controls (i.e. all the main ones) for simply running software that he disagrees with (i.e. any software that scales bitcoin).
As time passed, more and more proposals were offered, all against the backdrop of ever increasing censorship in the main bitcoin communication channels. It finally come down the smallest and most conservative solution. This solution was much smaller than even the employees of Blockstream had proposed months earlier. As usual there was enormous attacks from all sides and the most vocal opponents were the employees of Blockstream. These attacks still are ongoing today. As this software started to gain support, Blockstream organised more meetings, especially with the biggest bitcoin miners and made a pact with them. They promised that they would release code that would offer an on-chain scaling solution hardfork within about 4 months, but if the miners wanted this they would have to commit to running their software and only their software. The miners agreed and the ended up not running the most conservative proposal possible. This was in February last year. There is no hardfork proposal in sight from the people who agreed to this pact and bitcoin is still stuck with the exact same transaction limit it has had since the limit was put in place about 6 years ago. Gavin has also been publicly smeared by the developers at Blockstream and a plot was made against him to have him removed from the development team. Gavin has now been, for all intents an purposes, expelled from bitcoin development. This has meant that all control of bitcoin development is in the hands of the developers working at Blockstream.
There is a new proposal that offers a market based approach to scaling bitcoin. This essentially lets the market decide. Of course, as usual there has been attacks against it, and verbal attacks from the employees of Blockstream. This has the biggest chance of gaining wide support and solving the problem for good.
To give you an idea of Blockstream; It has hired most of the main and active bitcoin developers and is now synonymous with the "Core" bitcoin development team. They AFAIK no products at all. They have received around $75m in funding. Every single thing they do is supported by theymos. They have started implementing an entirely new economic system for bitcoin against the will of it's users and have blocked any and all attempts to scaling the network in line with the original vision.
Although this comment is ridiculously long, it really only covers the tip of the iceberg. You could write a book on the last two years of bitcoin. The things that have been going on have been mind blowing. One last thing that I think is worth talking about is the u/bashco's claim of vote manipulation.
The users that the video talks about have very very large numbers of downvotes mostly due to them having a very very high chance of being astroturfers. Around about the same time last year when Blockstream came active on the scene every single bitcoin troll disappeared, and I mean literally every single one. In the years before that there were a large number of active anti-bitcoin trolls. They even have an active sub buttcoin. Up until last year you could go down to the bottom of pretty much any thread in bitcoin and see many of the usual trolls who were heavily downvoted for saying something along the lines of "bitcoin is shit", "You guys and your tulips" etc. But suddenly last year they all disappeared. Instead a new type of bitcoin user appeared. Someone who said they were fully in support of bitcoin but they just so happened to support every single thing Blockstream and its employees said and did. They had the exact same tone as the trolls who had disappeared. Their way to talking to people was aggressive, they'd call people names, they had a relatively poor understanding of how bitcoin fundamentally worked. They were extremely argumentative. These users are the majority of the list of that video. When the 10's of thousands of users were censored and expelled from bitcoin they ended up congregating in btc. The strange thing was that the users listed in that video also moved over to btc and spend all day everyday posting troll-like comments and misinformation. Naturally they get heavily downvoted by the real users in btc. They spend their time constantly causing as much drama as possible. At every opportunity they scream about "censorship" in btc while they are happy about the censorship in bitcoin. These people are astroturfers. What someone somewhere worked out, is that all you have to do to take down a community is say that you are on their side. It is an astoundingly effective form of psychological attack.
Source: https://np.reddit.com/BitcoinMarkets/comments/6rxw7k/informative_btc_vs_bch_articles/dl8v4lp/
Sources:
https://twitter.com/adam3us/status/633119949943275520
https://www.reddit.com/Bitcoin/comments/3hb63g/bip_suggestion_lock_the_blockchain_to_only/cu5v2u2/
https://www.reddit.com/Bitcoin/comments/3h9cq4/its_time_for_a_break_about_the_recent_mess/
https://www.reddit.com/Bitcoin/comments/3uu3we/bitstamp_will_switch_to_bip_101_this_decembe
https://www.reddit.com/Bitcoin/comments/3uu3we/bitstamp_will_switch_to_bip_101_this_decembecxi370c/
https://www.reddit.com/Bitcoin/comments/3rejl9/coinbase_ceo_brian_armstrong_bip_101_is_the_best/cwpglh6
https://www.reddit.com/Bitcoin/comments/3axnc3/this_is_the_definition_of_fud_how_to_subvert/
https://www.reddit.com/btc/comments/3z0pkq/theymos_caught_redhanded_why_he_censors_all_the/
http://pastebin.com/1kvuj5bw
https://www.reddit.com/btc/comments/418r0l/lukejr_is_already_trying_to_sabotage_bitcoin/
https://medium.com/@octskyward/the-resolution-of-the-bitcoin-experiment-dabb30201f7#.cjuafsypy
https://www.reddit.com/Bitcoin/comments/3axnc3/this_is_the_definition_of_fud_how_to_subvert/
https://medium.com/@bitcoinroundtable/bitcoin-roundtable-consensus-266d475a61ff#.g42rjs2ew
https://news.bitcoin.com/bitcoin-classic-targeted-by-ddos-attacks/
https://www.reddit.com/btc/comments/5h2wiv/was_theymos_running_a_botnet_in_2007_theymos/?
https://www.reddit.com/btc/comments/5fm11b/unullc_is_actively_trying_to_delete_satoshi_from/?
https://github.com/BitcoinUnlimited/BitcoinUnlimited/pull/180#discussion_r91823463
submitted by MobTwo to CryptoMarkets [link] [comments]

The Bitcoin Group #84 -- Mike Hearn tries to kill Bitcoin - Segregated Witness - Robocoin - Netflix EB82 – Mike Hearn - Blocksize Debate At The Breaking Point Bitcoin 2012 London: Mike Hearn - YouTube Mike Hearn's Bitcoin explained and made simple  Guardian Animations ...

Hearn Divorces Bitcoin. A Medium post he wrote, highlighting his thoughts and his intentions to separate from the first digital currency and work with R3 CEV, was viewed by the Community as a shot across the bow. In a recent interview with a Swiss publication, Handelszeitung, he revealed why he held no regrets about stepping away from the cryptocurrency, ultimately concluding, “there is no ... But under it there is no signature of Andresen Gavin and Mike Hearn. Two of the most famous bitcoin developers believe that they have already found a solution to the problem. They proposed BIP101-a change in the bitcoin code, increasing the maximum block size in the block chain to 8 megabytes since the beginning of 2016, followed by a doubling every two years – so the block size will be 16 ... Mike Hearn. Follow. Sep 9, 2015 · 6 min read. An FAQ for Bitcoin XT 0.11B. This article describes a new feature in the XT 0.11B release, called mempool size limiting. 0.11B is due to be released ... Even though a lot of people are on the fence regarding what Hearn said in his post on Medium, there are some valid points to be found in his comments. Mike Hearn. Follow. Jan 14, 2016 · 18 min read. I’ve spent more than 5 years being a Bitcoin developer. The software I’ve written has been used by millions of users, hundreds of developers, and the talks I’ve given have led directly to the creation of several startups. I’ve talked about Bitcoin on Sky TV and BBC News. I have been repeatedly cited by the Economist as a Bitcoin expert ...

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The Bitcoin Group #84 -- Mike Hearn tries to kill Bitcoin - Segregated Witness - Robocoin - Netflix

Donate: 18EQEiQBK1X2DyDL5Y18j78iw4NuNHoLej Save 20% off Amazon with Bitcoin at https://purse.io/ THIS WEEK:-----The resolution of the Bitcoin experiment Hitler finds out about Mike Hearn and the bitcoin crash New video: https://www.youtube.com/watch?v=BKhCeu0JENA 19Jhnvibr9HkESGUa1j8uTVDCfWjEVCkwj Excerpt from Episode 82 of Epicenter Bitcoin. Mike Hearn describes the "worst case scenario" that could follow after the 20MB block size limit is introduced into Bitcoin XT. Miners (e.g., in China ... Topics include: Mike Hearn's declaration on the death of Bitcoin, this is actually another buying opportunity, it is Bitcoin's popularity that is causing the congestion, the block size situation ... As you plan expand and grow your Bitcoin and Altcoin mining operation, data networking becomes more important. This video discusses network switches, firewal...

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