Bitcoin Forum
January 16, 2019, 09:09:06 AM *
News: The copper membership price will increase by about 300% around Friday.
 
  Home Help Search Login Register More  
  Show Posts
Pages: [1] 2 »
1  Bitcoin / Bitcoin Discussion / So you can't use legacy Bitcoin for really anything on: January 13, 2018, 08:04:44 PM
I guess Bitcoin Cash is the real bitcoin.
2  Bitcoin / Bitcoin Discussion / Steam ceases accepting legacy Bitcoin payments due to high fees on: December 06, 2017, 06:02:28 PM
https://twitter.com/SteamDB/status/938459631449493504

Quote
Steam is no longer supporting Bitcoin
DECEMBER 6   - KURTIS
As of today, Steam will no longer support Bitcoin as a payment method on our platform due to high fees and volatility in the value of Bitcoin.

In the past few months we've seen an increase in the volatility in the value of Bitcoin and a significant increase in the fees to process transactions on the Bitcoin network. For example, transaction fees that are charged to the customer by the Bitcoin network have skyrocketed this year, topping out at close to $20 a transaction last week (compared to roughly $0.20 when we initially enabled Bitcoin). Unfortunately, Valve has no control over the amount of the fee. These fees result in unreasonably high costs for purchasing games when paying with Bitcoin. The high transaction fees cause even greater problems when the value of Bitcoin itself drops dramatically.

Historically, the value of Bitcoin has been volatile, but the degree of volatility has become extreme in the last few months, losing as much as 25% in value over a period of days. This creates a problem for customers trying to purchase games with Bitcoin. When checking out on Steam, a customer will transfer x amount of Bitcoin for the cost of the game, plus y amount of Bitcoin to cover the transaction fee charged by the Bitcoin network. The value of Bitcoin is only guaranteed for a certain period of time so if the transaction doesnít complete within that window of time, then the amount of Bitcoin needed to cover the transaction can change. The amount it can change has been increasing recently to a point where it can be significantly different.

The normal resolution for this is to either refund the original payment to the user, or ask the user to transfer additional funds to cover the remaining balance. In both these cases, the user is hit with the Bitcoin network transaction fee again. This year, weíve seen increasing number of customers get into this state. With the transaction fee being so high right now, it is not feasible to refund or ask the customer to transfer the missing balance (which itself runs the risk of underpayment again, depending on how much the value of Bitcoin changes while the Bitcoin network processes the additional transfer).

At this point, it has become untenable to support Bitcoin as a payment option. We may re-evaluate whether Bitcoin makes sense for us and for the Steam community at a later date.

We will continue working to resolve any pending issues for customers who are impacted by existing underpayments or transaction fees.

-- The Steam Team


3  Bitcoin / Bitcoin Discussion / What Bitcoin is all about on: December 05, 2017, 05:43:07 PM
4  Bitcoin / Bitcoin Discussion / FlexTrans Vs SegWit on: March 21, 2017, 07:04:28 PM
How do SegWit and FlexTrans compare?

Flexible Transactions was started as an alternative solution when it became apparent that Segregated Witness was not going to be a viable protocol upgrade.
This document attempts to describe the reasons why this is the case and how the two solutions compare and where they are completely different.

The reader should realise that the two solutions were both started with a single goal in mind which is to solve the Malleability issue. Where FlexTrans aimed to keep it simple and small, SegWit had as a goal to avoid at all costs making changes that would get the new transactions rejected by old nodes. The reason for this is cited to be that old wallets and nodes have no need to upgrade after SegWit becomes operational.
The reality of the situation is that people will need to upgrade their wallet anyway. As Bitcoin gets its value from networking we can see that networking will cause a ripple effect of upgrades. People that receive a payment from a SegWit user will not have any progress reports of that payment unless they have a SegWit wallet. Users pay more to users that don't have a SegWit wallet. The networked basis of money makes it a certainty that practically all people need to upgrade. And that begs the question if there really is a benefit to the SegWit solution.

Lets start by looking at the end result. What did the implementations actually accomplish.

Features:

Feature                                          SegWit   FlexTrans
Fixes Malleability                             ✅       ✅
Linear scaling of hashing                   ✅       ✅
Hardware wallet Support                   ✅       ✅
Makes transactions smaller                ❌       ✅
Supports the Lightning Network          ✅       ✅
Signatures can be pruned (in future)   ✅       ✅
Double Spend Proofs                        ❌       ✅
Support future script versions           ✅        ✅
No "two buckets" economics              ❌       ✅


In the last row this is about an economics issue where SegWit introduces "Two Buckets" with new pricing and new fee bidding. In the design of SegWit the signatures part of a transaction are to be charged 75% less than the rest, making two buckets of data. The designers of SegWit decided that the miners should incur the cost where miners do up to 4 times the work, for the same pay. This is an anti-feature where technical design is trying to gain an influence on economic policy and thus very much worth putting a cross in the SegWit column for.
Technical-debt-matrix;
This is about the cost of the design. As the term 'technical debt' implies, this is not a one time cost, this is an actual debt that needs to be paid off over time with more engineering cleanup. The actual cost paid is thus in future productivity and stability of the system.

Like any company or household, if you don't pay off your debt, you will eventually work for nothing other than keeping afloat and not make any progress.



Future growth

Bitcoin is meant to be around for many years, even decades. People want a stable money.
SegWit has as its only feature for the future that it allows the Lightning Network to be deployed. The capacity increase is a joke compared to the needs of the network right now. It certainly is not a capacity that can be used in the future. Even with Lightning on top, the capacity allowed in a SegWit world will not allow Bitcoin to grow as peer to peer cash.
Flexible Transactions is not a capacity increase, it is a separate solution that can be combined very well with any capacity increase.
Additionally, it is a format that is made to be extended. Adding fields to the format is expected and can be done safely. FlexTrans even dictates in the specification the allocation of various forwards compatible fields which can be used for soft upgrades.

Deployment

The main drive for SegWit was to avoid forcing people to upgade. What we see today is that the same authors are pushing people really hard to upgrade to the latest version, even before SegWit is out. Their client refuses to connect to non-segwit peers for half the connections. They even used the alert system to get people to upgrade their client.
All this means that in actual fact the 'safe' upgrade strategy of SegWit is not happening. The natural conclusion is that the complexity introduced to avoid making people upgrade was wasted and there is no real benefit in their architecture over FlexTrans.
The Flexible Transactions deployment is a protocol upgrade that has as of today not been planned. The likely method is to decide that at a specific time (counted in blocks) in the far future this upgrade will become active. Allowing everyone many months to upgrade.
If a user did not upgrade before the date hits his client will give a warning and he will be told to upgrade. Until he does there will be no service. This will guarantee no loss in funds and no loss in security or privacy.

Conclusion

The Flexible Transactions solution solves all problems that SegWit solves. On top of the features that SegWit has it lists some more which are essential to a healthy on-chain future growth for Bitcoin.
Flexible Transactions cost a fraction of SegWit, both in code written and future work to keep the network running.
The goal of SegWit that it would be easier to deploy, allowing people to not upgrade should they not want it, turns out to not be reached and it ends up dictating economic policy which is a sure sign of bad design.
There is no reason to choose SegWit over Flexible Transactions.


https://bitcoinclassic.com/devel/FlexTrans-vs-SegWit.html

As a personal note, There is nothing wrong with having multiple clients. Bitcoin Unlimited, Bitcoin Classic, and BitcoinXT even Core can work together to make bitcoin stronger.

Flexible Transactions is a better solution than SegWit. After the hard fork and the dust settles I imagine this will be where the next bout of discussion is directed.
5  Bitcoin / Bitcoin Discussion / The imminent Hard Fork and YOU on: March 21, 2017, 06:24:15 PM
What is a hard fork?


A hard fork is when a block is broadcast under a new and different set of protocol rules which is accepted by nodes that have upgraded to support the new protocol. In this case, Bitcoin diverges from a single blockchain to two separate blockchains (a majority chain and a minority chain).


There will be two blockchains after a fork, is that right?


Yes, that is correct. Some argue that having two chains is problematic, but that is only the case if you believe that the minority chain will survive and have more market value than the majority chain.


Is a hard fork bad?


Hard forks are just protocol upgrades. If you want to have a better designed Bitcoin protocol, periodically you will have to upgrade (fork) to make it happen. A planned fork is nothing to panic about. In fact, just like with Bitcoin halving every four years, protocol upgrades can be celebrated too.


What will happen to my bitcoin when a fork happens?


Donít worry, your bitcoin is safe! The most important thing as a user who wants to control their own money (bitcoin), is that you will want to store your bitcoin in a wallet where you have control over the private key. As long as you do that, post-fork you can spend your coins however youíd like. But if you leave your coins on an exchange for example where you may not have control over your private key, post-fork the exchange will have to determine which blockchain your coins belong to.


When will the fork happen?


Every fork is different, so generally speaking there isnít one answer that can fit every scenario. Most recently the protocol upgrade that has caused the most news has been Bitcoin Unlimited (BU) and the consensus mechanism emergent consensus, which removes the temporary Bitcoin block size limit like the original client and lets the free market decide what block size is best, allowing for on-chain scaling. BU doesnít have a set activation period. Once there is consensus among Bitcoin user nodes and mining nodes that signal an acceptable block size using BU, the blockchain will begin to diverge. For more information for miners on how to safely fork to BU, please read the ViaBTC Miner Guide.


Has a hard fork ever happened before?



Forks have successfully been implemented often in other cryptocurrencies. In fact there are very few instances of hard forks failing. On the Bitcoin blockchain there has already been  one successful hard fork in the past. This hard fork was carried out in response to a serious bug found in Bitcoin that could be used to create billions of bitcoin. A hard fork was planned and carried out in a short amount of time to fix this bug.


Why is a hard fork likely to happen?



A fork is likely to happen due to a fundamental disagreement between different groups of the Bitcoin community on how the Bitcoin protocol will progress in the future. A long and important debate has carried on within the community for the past several years and consensus has been unable to be found on a path forward. A hard fork is one method for finding a way forward using using Nakamoto Consensus; read the Bitcoin Whitepaper to understand the underlying architecture of how Bitcoin was built.



Iíve heard about replay attacks when forking, what are they?



When there is a chain split, you may end up with coins on both sides of the blockchain (two coins), for example Bitcoin Core (BTC-C) and Bitcoin Unlimited (BTC-U). A replay attack is when a user broadcasts both coins on both blockchains, taking advantage of exchanges that might not have protection against these attacks. Recently Exchanges have reached out to the Bitcoin community for suggestions on the best way to handle these situations.



How can I keep track of the ongoing consensus finding of the fork?


There are many sites to keep track of how people are voting within the community. For example you can see how people are Economically voting, how miners are signaling and how user nodes are signaling



Visit /r/BTC For further uncensored discussion.

6  Bitcoin / Important Announcements / The imminent Hard Fork and YOU on: March 21, 2017, 05:25:48 PM
What is a hard fork?


A hard fork is when a block is broadcast under a new and different set of protocol rules which is accepted by nodes that have upgraded to support the new protocol. In this case, Bitcoin diverges from a single blockchain to two separate blockchains (a majority chain and a minority chain).


There will be two blockchains after a fork, is that right?


Yes, that is correct. Some argue that having two chains is problematic, but that is only the case if you believe that the minority chain will survive and have more market value than the majority chain.


Is a hard fork bad?


Hard forks are just protocol upgrades. If you want to have a better designed Bitcoin protocol, periodically you will have to upgrade (fork) to make it happen. A planned fork is nothing to panic about. In fact, just like with Bitcoin halving every four years, protocol upgrades can be celebrated too.


What will happen to my bitcoin when a fork happens?


Donít worry, your bitcoin is safe! The most important thing as a user who wants to control their own money (bitcoin), is that you will want to store your bitcoin in a wallet where you have control over the private key. As long as you do that, post-fork you can spend your coins however youíd like. But if you leave your coins on an exchange for example where you may not have control over your private key, post-fork the exchange will have to determine which blockchain your coins belong to.


When will the fork happen?


Every fork is different, so generally speaking there isnít one answer that can fit every scenario. Most recently the protocol upgrade that has caused the most news has been Bitcoin Unlimited (BU) and the consensus mechanism emergent consensus, which removes the temporary Bitcoin block size limit like the original client and lets the free market decide what block size is best, allowing for on-chain scaling. BU doesnít have a set activation period. Once there is consensus among Bitcoin user nodes and mining nodes that signal an acceptable block size using BU, the blockchain will begin to diverge. For more information for miners on how to safely fork to BU, please read the ViaBTC Miner Guide.


Has a hard fork ever happened before?



Forks have successfully been implemented often in other cryptocurrencies. In fact there are very few instances of hard forks failing. On the Bitcoin blockchain there has already been  one successful hard fork in the past. This hard fork was carried out in response to a serious bug found in Bitcoin that could be used to create billions of bitcoin. A hard fork was planned and carried out in a short amount of time to fix this bug.


Why is a hard fork likely to happen?



A fork is likely to happen due to a fundamental disagreement between different groups of the Bitcoin community on how the Bitcoin protocol will progress in the future. A long and important debate has carried on within the community for the past several years and consensus has been unable to be found on a path forward. A hard fork is one method for finding a way forward using using Nakamoto Consensus; read the Bitcoin Whitepaper to understand the underlying architecture of how Bitcoin was built.



Iíve heard about replay attacks when forking, what are they?



When there is a chain split, you may end up with coins on both sides of the blockchain (two coins), for example Bitcoin Core (BTC-C) and Bitcoin Unlimited (BTC-U). A replay attack is when a user broadcasts both coins on both blockchains, taking advantage of exchanges that might not have protection against these attacks. Recently Exchanges have reached out to the Bitcoin community for suggestions on the best way to handle these situations.



How can I keep track of the ongoing consensus finding of the fork?


There are many sites to keep track of how people are voting within the community. For example you can see how people are Economically voting, how miners are signaling and how user nodes are signaling



Visit /r/BTC For further uncensored discussion.

7  Bitcoin / Bitcoin Discussion / Everything is going to be ok. on: March 09, 2017, 08:24:46 PM
Things are looking up in my opinion.
8  Alternate cryptocurrencies / Altcoin Discussion / BitcoinXT and Gavin have my support. on: August 11, 2015, 05:53:10 PM
For what it's worth as one of the VIPs here.

Further, due to recent censorship regarding BitcoinXT and discussion on using larger blocks on /r/Bitcoin I suggest users start using https://voat.co/v/bitcoin

Actions by Mods on Voat are free for everyone to see.

9  Bitcoin / Meetups / Bitcoin Meet Up Puget Sound, WA on: January 03, 2014, 12:23:35 AM
Hi Bitcoiners,

I'm organizing a bitcoin meetup at the Slaughter County Brewery in Port Orchard on January 20th. Currently talking with the pub owner about accepting Bitcoin to the tune of 50% off menu and tap items. If you are in the Puget Sound area, come on out! The establishment is pirate themed and is nestled next to the Sinclair Inlet accross from the Puget Sound Naval Shipyard in Port Orchard. It will be blues night, band to be determined. Hours are 2pm to 10pm.  Address below, hope to see you there!

1307 Bay St,
 Port Orchard, WA 98366

Cheers,

Dustin Freeman
Recalesacence Coins, LLC
10  Bitcoin / Meetups / Bitcoin Meet Up Puget Sound, WA on: January 03, 2014, 12:22:17 AM
Hi Bitcoiners,

I'm organizing a bitcoin meetup at the Slaughter County Brewery in Port Orchard on January 20th. Currently talking with the pub owner about accepting Bitcoin to the tune of 50% off menu and tap items. If you are in the Puget Sound area, come on out! The establishment is pirate themed and is nestled next to the Sinclair Inlet accross from the Puget Sound Naval Shipyard in Port Orchard. It will be blues night, band to be determined. Hours are 2pm to 10pm.  Address below, hope to see you there!

1307 Bay St,
 Port Orchard, WA 98366

Cheers,

Dustin Freeman
Recalesacence Coins, LLC
11  Economy / Marketplace / Recalescence Coins D.I.Y. on: December 17, 2013, 05:13:00 PM


Due to measures FinCEN has taken against Casascius Coins, effective immediately we will no longer be loading coins or supplying denominated holograms.

We will continue selling our coins as blanks where you may easily make your own Physical Bitcoin. Serialized coins will be available again soon, but with signed messages from their payment addresses verifying their serial. For the time being, we will only be selling the blank silver rounds. It is unfortunate that is has come to this, but it will not stop us from spreading the ideals Bitcoin represents.

Dustin Freeman
Recalescence Coins, LLC
https://recalescencecoins.com/d-i-y-guide



12  Economy / Goods / Recalescence Coins D.I.Y. on: December 17, 2013, 04:27:17 PM


Due to measures FinCEN has taken against Casascius Coins, effective immediately we will no longer be loading coins or supplying denominated holograms.

We will continue selling our coins as blanks where you may easily make your own Physical Bitcoin. Serialized coins will be available again soon, but with signed messages from their payment addresses verifying their serial. For the time being, we will only be selling the blank silver rounds. It is unfortunate that is has come to this, but it will not stop us from spreading the ideals Bitcoin represents.

Dustin Freeman
Recalescence Coins, LLC
https://recalescencecoins.com/d-i-y-guide





13  Economy / Marketplace / [ANN] Recalescence Coins Gold 1000mBTC rounds on: October 31, 2013, 09:28:45 PM
Hi Everyone,

We are in the process of creating new coins for 2014, which means that our 1000mBTC coin design "Silver Sparrow" is going to be transitioned to GOLD. The gold coins will be serialized in the same manner as their silver counterparts, with their serialization starting over at #0001 and featuring a new hologram design.

This also means that we will no longer be producing the current "Silver Sparrow" coins. Once our inventory of these coins is exhausted, that will be it. As of this writing there are approximately 250 left.

The gold coins will be available for pre-order on Nov. 8th, with the first 5 orders receiving a plaque and a special display case for their coins once they become available.

Our new coin design will be denominated as 100mBTC and consist of .999 fine silver. Expect previews of this coin by Nov. 28th Smiley

As an additional note, I am now committed to Recalescence Coins, and vicariously Bitcoin, full time. You may now expect more frequent updates on the website, and even better service. My heart goes out to each and everyone of you in the community for making this possible.

Cheers,

Dustin Freeman
Recalescence Coins, LLC

14  Bitcoin / Bitcoin Discussion / Recalescence Coins Physcial Bitcoin vs. Xylene on: October 08, 2013, 07:06:54 AM
http://www.youtube.com/watch?v=lARw9GNJ7pI&feature=youtu.be

If you guys have suggestions of other methods/solvents to use, please post here or send me a message Smiley

As pointed out on Reddit, the hologram leaves the frame and the viewer cant be sure I didn't just place a blank disc. I'll be making a new video tomorrow.
15  Economy / Marketplace / Recalescence Coins: Private Key Vs. Xylene attack on: October 08, 2013, 06:41:56 AM
http://www.youtube.com/watch?v=lARw9GNJ7pI&feature=youtu.be

If you guys have suggestions of other methods/solvents to use, please post here or send me a message Smiley

As pointed out on Reddit, the hologram leaves the frame and the viewer cant be sure I didn't just place a blank disc. I'll be making a new video tomorrow.
16  Local / Biete / Recalescence Coins physikalisch Bitcoin Gewinnspiel! [Endet 21. September] on: September 17, 2013, 06:27:53 PM


We are raffling off coin #113!

The coin will be LOADED with 1000 mBTC and come with its certificate and coin easel.

Shipping will of course be free, and express.

This raffle will be open to everyone, though forum membership is required so you can send me a PM with your shipping info if you win.

Unlimited number of tickets available per person. All proceeds of this raffle will be donated to the Electronic Frontier Foundation https://www.eff.org/about

To Enter:
Each ticket costs 10 mBTC (0.010)

Submit payment to 1L1bA6R4rEBwHEwBMo61JitLt2Q8pvtYr8
This is a paper wallet generated off-line solely for the EFF donation.


PLEASE:
Include a PUBLIC NOTE on the blockchain with your forum handle in your transaction! If you don't include a note with your forum handle in the block chain we will not be able to credit you tickets!
To add a public note you must use the https://blockchain.info wallet!


Raffle Ends September 21 2:00pm PST

Entries will then be placed in a sufficiently sized bucket/hat/shoe.

Drawing Starts September 22 8pm PST Via LIVE STREAM, at which point the winner will be chosen at random from the ticket holding device.

This post will be updated to provide the link.

Cheers and good luck!

17  Other / Beginners & Help / Recalescence Coins Physical Bitcoin Raffle! [Ends Sep. 21] on: September 17, 2013, 04:25:40 PM
Main discussion thread: https://bitcointalk.org/index.php?topic=294358.0



We are raffling off coin #113!

The coin will be LOADED with 1000 mBTC and come with its certificate and coin easel.

Shipping will of course be free, and express.

This raffle will be open to everyone, though forum membership is required so you can send me a PM with your shipping info if you win.

Unlimited number of tickets available per person. All proceeds of this raffle will be donated to the Electronic Frontier Foundation https://www.eff.org/about

To Enter:
Each ticket costs 10 mBTC (0.010)

Submit payment to 1L1bA6R4rEBwHEwBMo61JitLt2Q8pvtYr8
This is a paper wallet generated off-line solely for the EFF donation.


PLEASE:
Include a PUBLIC NOTE on the blockchain with your forum handle in your transaction! If you don't include a note with your forum handle in the block chain we will not be able to credit you tickets!
To add a public note you must use the https://blockchain.info wallet!


Raffle Ends September 21 2:00pm PST

Entries will then be placed in a sufficiently sized bucket/hat/shoe.

Drawing Starts September 22 8pm PST Via LIVE STREAM, at which point the winner will be chosen at random from the ticket holding device.

This post will be updated to provide the link.

Cheers and good luck!

18  Economy / Reputation / Hexadecibel (Dustin Freeman's) Rep Thread on: September 14, 2013, 11:41:10 PM
Hello,

This is my rep thread, where reputationy things are discussed.

And also THIS!!

19  Economy / Gambling / Recalescence Coins Physcial Bitcoin Raffle! on: September 14, 2013, 09:31:33 PM


We are raffling off coin #113!

The coin will be LOADED with 1000 mBTC and come with its certificate and coin easel.

Shipping will of course be free, and express.

This raffle will be open to everyone, though forum membership is required so you can send me a PM with your shipping info if you win.

Unlimited number of tickets available per person. All proceeds of this raffle will be donated to the Electronic Frontier Foundation https://www.eff.org/about

To Enter:
Each ticket costs 10 mBTC (0.010)

Submit payment to 1L1bA6R4rEBwHEwBMo61JitLt2Q8pvtYr8


PLEASE:
Include a PUBLIC NOTE on the blockchain with your forum handle in your transaction! If you don't include a note with your forum handle in the block chain we will not be able to credit you tickets!


Rafle Ends September 21 2:00pm PST

Entries will then be placed in a sufficiently sized bucket/hat/shoe.

Drawing Starts September 22 8pm PST Via LIVE STREAM, at which point the winner will be chosen at random from the ticket holding device.

This post will be updated to provide the link.

Cheers and good luck!

20  Economy / Marketplace / Recalescence Coins Raffle! [CLOSED] [WINNER WINGSUIT!] on: September 14, 2013, 07:58:14 PM


CLOSED



Thank you everyone who participated!

Drawing Starts September 22 8pm PST Via U STREAM, at which point the winner will be chosen at random from the ticket holding device.

This post will be updated to provide the link.

Ustream link:
http://www.ustream.tv/channel/recalescencecoins

list of raffle entrants:
https://docs.google.com/file/d/0B7sLcZ4VNET7dmIwQ2tuUWJHX1E/edit?usp=sharing

wingsuit, Please PM me with your shipping information! Congratulations!

For those of you who missed the drawing:

http://www.ustream.tv/recorded/39149617



Pages: [1] 2 »
Bitcointalk.org is not available or authorized for sale. Do not believe any fake listings.
Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!