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Im pretty sure that all the main developers in bitcoin are early adopters, therefore all of the main bitcoin developers are multimillonaires themselves... which means they don't really need any funding, and they will keep getting richer as BTC keeps going up.
Anyone can be part of Bitcoin by submitting your own code, so it's hard to "fund the development of BTC". Like I said, usual contributors are already rich, and we will have new contributors overtime that have not contributed yet. It's hard to distribute money in an open source project like BTC.
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We aren't going to see mainstream usage of bitcoin in a long, long time. Most people that talk about bitcoin, it's because they heard it once on the news, but have no idea what it is. A tiny percentage actually own some, and it's mostly left on exchanges because they are idiots. Then from that percentage, only a smart amount know how to withdraw it and set their own full nodes and cold storages.
Conclusion: amount of people that actually own BTC is TINY.
BTC or any other crypto is not going to be viable for mainstream usage until second layer solutions are delivered. BTC just got LN on mainnet so I expect 2019 to be the year where we start seeing websites all over the world accepting BTC through LN.
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Im not saying you should say that people that said bitcoin would fail and how "it was too late" and sold back in 2011 should be blamed, it probably was the logical thing to do back then all things considered.
What im saying is that, if you are still saying that bitcoin will fail in 2017 because "it doesn't scale", "fees are too high", "it's too slow", or "this or that government will destroy it" etc, then you still haven't understood anything (and you have had plenty of time) so when we are at $100k and we look back at threads like this, you will have no excuse. The information and liquidity of Bitcoin is not what it was in 2011, there's no excuse anymore. Panic sellers will be judged by history as they fall into the wrong side of it.
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We are only $270 dollars away from an all time high, it's going to be decided soon. Remember the anatomy of a bubble is an ambiguous one. It may look like a bubble, but it may be the start of an huge S curve... To price something, you must know what the right price is, and who the hell knows what the right price of bitcoin is? it's a whole new asset class, it would be millions of dollars a coin for all we know, and we are being neurotic about the current price swings which could be tiny in the long term, just like this: https://bitcointalk.org/index.php?topic=2567915.msg26158008#msg26158008And given the decrease in volatility, the dips will not be as big as $30 to $5. |
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I was remembering the good old times and saw this:  Back then, a lot of people sold their bitcoins, and never came back. These people are of course hating themselves for life. People like this:  This guy saw a huge, unsustainable bubble at $15, the price went as high as $30+ before the correction. These are the type of guys that are perma-bears and hate people that held it and will try to make you dump just to feel better about how wrong they were. And also realize how the % of volatility has went down a lot, even with the current ups and downs. Study the price and the perspective that people had back then to get a better picture. |
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This is true. Futures will certainly be a factor going forward, but there's no way crashing Bitcoin is as simple as some people theorize. It's ridiculous. i can agree with that. the CBOE and CME futures in particular are cash-settled and completely removed from the crypto markets. i don't find that the spot markets follow okcoin and bitmex. and with japan and korea entering the markets, each exchange has increasingly smaller effect overall. They're either forgetting that Bitcoin is decentralized and is resistant against external control, or they're overestimating Wall Street's capabilities. I see this as Bitcoin breaking into the mainstream, and it may even be one step closer to being an ETF. yeah, there is increasing talk again of an ETF with all the hype around futures markets. i can't wait. regarding manipulation... in theory, why couldn't they manipulate the spot exchanges directly? i guess the main problem is counterparty risk, but it we ignore that, what's stopping them from funding spot exchanges like bitfinex, coinbase, etc. and suppressing the price? they could do so with dollar collateral on margin. I'm more concerned as to what this will do to the mempool, but that's a different discussion entirely.
ah, that'll all be sorted out in time. this is one huge spam attack. did you notice how we could send with 2 satoshi/byte fees a couple weeks ago, but people are spending 300 satoshis/byte today? that's some serious spam.... The FED will need to print all these dollars to bail out big players that get liquidated in the market, because trying to short an asset that's limited in amount an in high demand will always result in disaster for these trying to short. None of the people involved in futures are holding the underlying asset, it is a can of worms that could end up in the FED doing unexpected printing which would only devalue the dollar. BTC is no longer a toy.. it's a force to be reckoned with. If you end up on the wrong side of the margin trade you can end up causing a disaster if you are an institution moving billions. |
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If you are not using a HD wallet, anytime you sign a transaction, your wallet.dat will be unencrypted in RAM, or more specifically, the decryption key to decrypt the wallet.dat file will be in RAM, along with the private key(s) of what you are using to sign. If an attacker has access to your RAM when you are signing a transaction, all of your money is effectively stolen.
If you are using an HD wallet, anytime you sign a transaction, the private key(s) used to sign the transaction will be stored in RAM. An attacker could use the private key along with the xpubkey (which will always be in an unencrypted state), to be able to calculate the rest of your private keys in your wallet.
Also, an attacker is likely able to monitor what you enter into your keyboard, so they can get your passphraise anyway, so an attacker could simply copy your wallet.dat and use what you typed as your passphraise.
So this sounds like the old wallet.dat format in bitcoin core is safer than the new HD wallet.dat? I think achow101 said that the new HD wallet.dat is safer or at least has no drawbacks compared to the old wallet.dat format and now im not sure anymore. I haven't still updated my old wallet.dat into HD format, because I didn't want to pay the fees to move my funds into a new wallet, but the new 0.16 version will conver the old wallet.dat format into the new HD format, and now im sure if I really want that or not... In any case im moving a fully air gapped linux laptop as soon as possible to never expose my keys to the internet. |
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As of right now, it's downloading really fast. Yesterday it was so slow... download speeds is so random with Bitcoin Core for some reason. Maybe HDD access is the bottleneck? My mainnet sync speed varied by a factor of 10, likely due to Core's inefficient memory caching. But why would the speed be random due using HDD? according to the network activity, it just stops downloading, there are huge gaps of no activity in the network window, I mean you get these big green lines when it goes fast, then it just stops download, then it begins again, at lower speeds, eventually the speed is so slow that it's maddening so I have to close it and re-open again. Next time I sync a full blockchain I will use SSD, but like I said... it just has big gaps in between downloading, then download speed decreases. |
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Futures were opened and the price went from $14,700 to $16,300 in just matter of minutes, i saw huge sell walls of more than 200 bitcoins, and huge buy walls of more than 50 - 100 bitcoins. The whole market is crazy right now Been mining since 2013 and will hold my coins. I don't see where the futures will help us other than give us some more legitimatize from the main stream. We will see what happens as they start in 5 mins...
I would not sell anything though, i will keep holding my bitcoins until i see a reasonable price, maybe twenty thousand dollars, or twenty five, i dont have weak hands right now. Easy explanation right there: https://en.wikipedia.org/wiki/Short_squeezeAll the people that were expecting for Bitcoin to dump just because wall street would set short orders on their futures are going to get squeezed out of the game if they follow their stupid gambling games. We are going to see big fluctuations in the coming hours, and then we will see a new all time high as shorts get liquidated. They don't know what's coming, they have never deal with something like this. The short's fail is going to be epic, books will be written about the total destruction of Wall St future gamblers. |
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Been mining since 2013 and will hold my coins. I don't see where the futures will help us other than give us some more legitimatize from the main stream. We will see what happens as they start in 5 mins...
" You have nothing to fear but fear itself" FDR
Anyone falling for the "oh no futures are coming" FUD is a straight retard, there isn't much to say about it. Wall Street is not going to magically short an asset that's limited in amount, cannot be manipulated in it's supply, and it's totally transparent about things. This is another whole new animal they are dealing it. If they aren't completely insane, they will not do anything stupid, or they might end up creating systemic risk on the financial system as they end up liquidated while BTC pumps. Nobody is going to be paying attention to the Future's prices anyway, they are not backed by actual Bitcoin. |
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Another tough way of doing it : Instead of allowing signatures for only premium members,let it done by case by case basis.For instance,once a member signs up ,he can request for a signature approval once in 6 months.If he gets rejected,he basically cannot have another request for the next 6 months.If someone thinks they're good enough,they can ask for approval in a common signature board where mods/admins can grant the access.Involves too much manual work from time to time.
This would end up on a ton of people, both posters and advertisers, moving into Roger Ver's bitcoin dot com forum, most likely. Not to mention it would require an insane amount of resources to monitor and judge everyone. You have to balance out what you are going to do, like I said before, you don't want to end up giving all that organic traffic (which is worth millions) to the enemy as a result. Personally, I would bring back the noob jail, so newbies are forced to stay in the newbie section until at least 14 points of activity. If you are really new, then you first steps should be there as you learn (of course, there's the possibility that a cryptography expert didn't have an account here yet and would be stuck on there with the noobs, but I guess that's not usual). This would solve all the newly created accounts by broken english third worlders spamming nonsense. If you get rid of only that, the forum becomes way better. Then just keep banning the obvious low hanging fruit spammers manually as of now, and that's all. Don't go overkill with it, or you risk losing ranking points when people search for "Bitcoin forum" on the internet. It's the same as Roger wants to do with /r/btc, he wants it to show up above /r/bitcoin when people search "bitcoin reddit" on the Google. |
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It's a game theory problem: The moment you get rid of all that forum activity, which is ultimately legit, organic activity of real people, you are damaging your SEO. Google's algorithm doesn't care if 1000 indonesians are registering daily to get some peanuts on bounty campaigns, that activity is real activity and not flagged as bots, which helps ranking the site better, which helps ad revenue. I can't blame theymos on that. And realize the fact that internet traffic doesn't disappear, it finds new paths, and guess who would capitalize all that traffic into it's own forum: Exactly, Roger Ver. Do we want bitcoin dot com's forum to be the #1 ranked bitcoin forum?
Personally I just bookmark quality posters I like. If you like gmaxwell's contributions, bookmark him and follow his posts and ignore the bullshit. Of course this doesn't mean 3rd worlders spamming 100 times a day shouldn't be banned, but getting rid of all that traffic becomes a problem from a SEO perspective. You don't want to lower the demand of participation on your forum.
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Yes I've already bookmarked this site for when I have my 2 testnet nodes setup ready to test around with raw transactions and see if I do it correctly, but I can't see a graph of the actual blockchain size. Something like this: https://blockchain.info/en/charts/blocks-sizebut for the testnet. As of right now, it's downloading really fast. Yesterday it was so slow... download speeds is so random with Bitcoin Core for some reason. Yesterday it said "2% hourly increment". Now at current speeds, im making %30 hourly increments, so I will have it downloaded in 2 hours. I guess it depends on how lucky you are to catch a fast node. |
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Lately I have (for the first time ever) been putting some time into syncing the testnet blockchain to practice rawtransaction crafting to set up a cold storage bitcoin core installation into an airgapped linux laptop... whatever, my question is.. who the hell bothers mining a blockchain with fake bitcoins? I mean, it's a real blockchain with real blocks and real transactions right? but the tokens are worthless... so who is maintaining a worthless blockchain?
Also, anyone knows the EXACT testnet current blockchain size? where do I look at this?
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Interesting...i've never seen a transaction stuck for months, usually it comes back automatically after a couple of days. What was your mistake exactly? Im not sure if the fee is too low or not. Segwit transactions are supposed to go with lower fees. But since there is no GUI support yet, the fee is not calculated (I guess you used the command line). Try -zapwalletttxes to get the money back into your wallet. |
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What a disaster. I took like a week to get a full Bitcoin ABC node synced on my laptop in order to access my Bitcoin Cash after the fork, I enabled prune mode on it, everything was good.
Then I wanted to use testnet on Bitcoin Core also on my laptop, to practice with raw transactions from one computer to another (I would also run testnet on my desktop).
Anyway, I installed the latest Core version on my laptop, opened it, and I got the "reconstructing UTXO" window. I was like "weird.. I renamed the Bitcoin folder on %appdata% so it's not the default "Bitcoin" one and my Bitcoin ABC uses a folder called "Bitcoin ABC". I closed it, opened testnet Core, then realized "testnet3" folder was created on the Bitcoin ABC folder. And then I realized that for some reason, Bitcoin Core was using my "Bitcoin ABC" folder as the default datadir folder... wtf??
Of course, since I opened it without tesnet the first time after the install and saw the "reconstructing UTXO" window, I realized how the Bitcoin ABC blockchain was modified during these minutes I saw that window. I confirmed it when I opened Bitcoin ABC and it gave me a "corrupted blockchain" message and then started from scratch. What a disaster. I will need to sync ABC again from day 1.
Why the hell did Bitcoin Core choose by default the "Bitcoin ABC" folder? that was weird. It should have created a "Bitcoin" folder in %appdata% as usual but it didn't. Also it didn't. I've had to add -datadir=D:\Bitcoin to put the blockchain files on a folder called "Bitcoin", otherwise it kept rewriting block files on "Bitcoin ABC" folder. It must be Bitcoin ABC's fault that confused Bitcoin Core or something. It didn't prompt me where to install the blockchain files or anything during .
This is a very well known issue (in most forked coins) as you are probably aware. Although, I thought that the problem had been fixed (it would be a mixup with the config files that point it in the other folder). Editing these config files will just redirect both of them. The forked clients always seem a bit badly made with minimal changes that cause errors like this one. A solution, if you haven't found one yet, make a script or a shortcut (or a shortcut to a script) for each forked client you install - probably the only way to get around the error... And set each one equal to the corresponding datadir (shortcuts should run as scripts do). This is what I do to get past it anyway. My idea was to never mix my main Bitcoin Core installation with any other fork, but I just wanted to launch the testnet of Core in another laptop, and then since I had ABC installed, things went south. I will just guarantee that I always set -datadir=D:\*NameOfTheForkHere* everytime that I install a new fork for testing purposes or just to dump the stupid thing on my laptop. Once I have my proper Linux laptop set I will never install anything else but Bitcoin Core. |
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A lot of people miss the fact that you can sign messages offline with Bitcoin Core without needing to sync the blockchain. It's very easy to do, it's just in the File menu. Additionally you do not need an internet connection which is important for cold storage. You just need a way to get Bitcoin Core to an offline computer (e.g. a secure flash drive).
Indeed, but Bitcoin Core developers should work harder on making Bitcoin Core's GUI easy to use for offline storage. For example, I want to send coins from an offline Bitcoin Core installation into another laptop that has Bitcoin Core online and synced. In order to do so, I need to resort to very user-unfriendly commands like rawtransaction crafting and so on. I claim this could be nicely resolved in the GUI avoid mistakes which could be fatal. You enter the wrong amount of digits and you end up sending a massive fee for example. They need to work on that. |
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Hi,
I have a bitcoin cold wallet address and i want to sign a message with time stamp. Please tell me how to do it? Please do not make fun of me for asking such things.
Please tell me the step by step procedure.. I am new to this...
What software are you using? I know how to sign messages with Bitcoin Core. If you are using Bitcoin Core: https://www.youtube.com/watch?v=3oxM9_OCQKMYou could also import your key on Electrum and do it here: https://www.youtube.com/watch?v=pNmC_BYO8eMNote that you need your private key to do this, so don't use online wallets like blockchain.info etc |
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The latest Bitcoin fork, "Bitcoin God", will be promoted and mined by chinese mining mogul Chandler Guo: https://bitcoinexchangeguide.com/bitcoin-god-ico-god-token/We have yet another bitcoin hard fork to announce. It’s called Bitcoin God, or GOD.
The hard fork project is being led by Chinese bitcoin and blockchain angel investor Chandler Guo, who released a message on WeChat stating his intention to fork off from core on December 25.
In a follow-up tweet, Guo explained that he chose December 25 because it was “symbolic of me giving candy to all bitcoin holders.”
Responding to an inquiry on Twitter, Guo confirmed that the project is “real”. Guo explains that GOD will be forked off the main bitcoin chain at block 501,225, which is scheduled to occur on December 25. There’s a total supply of 21 million GOD coins, and there will be no pre-mine.
What’s the difference between Bitcoin God and regular bitcoin? Why do we need yet another hard fork? Guo claims that “the profit from POS mining will be distributed to all Bitcoin God users.”
Guo has not gone into further detail about how that profit sharing scheme will work. However, bitcoin hard forks are quickly becoming the new ICOs. Super Bitcoin, Bitcoin Platinum, Bitcoin Diamond, and Bitcoin Cash Plus are all being released over the next few weeks. Some of these projects have legitimate support from a team of developers. Others are scam projects with no apparent purpose.
Ultimately, there’s virtually no information about Bitcoin God available online at this time – but we’re still a few weeks away from launch. Stay tuned to see if Bitcoin God (GOD) is a real cryptocurrency project or not. Is anyone bothering to get all these coins? How are you doing it? it is honestly incredibly annoying having to move your cold storage each time a new fork happens. I think im going to wait for all the forks to happen, then move my cold storage just once and access them all. The problem is, by then, most would have crashed... |
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What a disaster. I took like a week to get a full Bitcoin ABC node synced on my laptop in order to access my Bitcoin Cash after the fork, I enabled prune mode on it, everything was good.
Then I wanted to use testnet on Bitcoin Core also on my laptop, to practice with raw transactions from one computer to another (I would also run testnet on my desktop).
Anyway, I installed the latest Core version on my laptop, opened it, and I got the "reconstructing UTXO" window. I was like "weird.. I renamed the Bitcoin folder on %appdata% so it's not the default "Bitcoin" one and my Bitcoin ABC uses a folder called "Bitcoin ABC". I closed it, opened testnet Core, then realized "testnet3" folder was created on the Bitcoin ABC folder. And then I realized that for some reason, Bitcoin Core was using my "Bitcoin ABC" folder as the default datadir folder... wtf??
Of course, since I opened it without tesnet the first time after the install and saw the "reconstructing UTXO" window, I realized how the Bitcoin ABC blockchain was modified during these minutes I saw that window. I confirmed it when I opened Bitcoin ABC and it gave me a "corrupted blockchain" message and then started from scratch. What a disaster. I will need to sync ABC again from day 1.
Why the hell did Bitcoin Core choose by default the "Bitcoin ABC" folder? that was weird. It should have created a "Bitcoin" folder in %appdata% as usual but it didn't. Also it didn't. I've had to add -datadir=D:\Bitcoin to put the blockchain files on a folder called "Bitcoin", otherwise it kept rewriting block files on "Bitcoin ABC" folder. It must be Bitcoin ABC's fault that confused Bitcoin Core or something. It didn't prompt me where to install the blockchain files or anything during install.
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