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1  Bitcoin / Mining speculation / ASICBoost shower thought theory on: April 22, 2017, 01:43:54 PM

Assumption: Bitmain/Wu implemented covert ASICBoost in hardware chips giving 20% electricity advantage.

Assumption: Segwit would 'break' ASICBoost, invalidating the 20% advantage, leveling the playing field for all mining.

Here's my theory:  Assumption 2 is wrong.  In fact, segwit would break all of the ASICboost hardware rendering it useless.  Once segwit is activated, difficulty drops dramatically because all that ASICboost hardware must be thrown out and re-manufactured.

How much mining power would be immediately deactivated?
What would be the effects on Bitmain if this were true?
What would happen to the difficulty?
How long would the network take to recover from this disaster?

Ultimately I believe it would be a good thing, but would it be chaos for a few months?
2  Bitcoin / Development & Technical Discussion / WORKING Lightning Node Network (LNN) on TESTNET, feel free to join on: March 27, 2017, 06:05:01 PM
I've created a live TESTNET installation of the eclair lightning node alpha release.  The install is working and will open payment channels, send & receive funds, close channels.

This is working on TestNet.

The purpose of this endeavour is to explore the capabilities of this software and begin to answer some questions about it's use in practical situations.

For example:
How much can I send at once?
Is it really instant?
How does it perform?
What are the caveats to using this network?
Will it really scale in order for millions to be able to pay for coffee?
Will it be possible to run seamlessly for an end user with zero technical knowedge?
Is it possible for the LNN to stay decentralized among node operators?

Feel free to connect to my lightning node at URI:

Post your node URI in this thread, and a test payment request and let's see if we can get this TEST LNN implementation growing.

If you connect, post a payment request of 5-10 TESTNET milliBTC and I'll send them to you.

Let me know if you need help setting up a node, and I'll try to assist.

Installed with:
Stock Ubuntu 16.04
Oracle Java 8 (IMPORTANT, must be Oracle Java)
bitcoin-qt, set to testnet
eclair alpha   (
ports 18333 and 9735 open and NAT'd to node.

Awesome demo of eclair node in regtest mode

Currently Active Public TESTNET Lightning Nodes

Sample Payment Requests for public nodes


After trying this software for a few days, it's clear that if you want to receive funds, you have to have open ports to be able to let others connect to your node and start a payment channel.  If you set up a semi-permanent node with open ports, I'll post your EXTERNAL public address here so others can connect.  If this is not possible for you, use one of the payment requests posted here to at least try to send a payment after you have connected to a node.

I don't know yet if payment requests can be re-used by different nodes.  I do know that payment requests cannot be repaid from the same node.

3  Bitcoin / Bitcoin Discussion / Transaction Accelerator on: March 03, 2017, 02:46:25 PM

I've just seen the Transaction Accelerator hosted by ViaBTC, a miner clearly in the Bitcoin Unlimited camp.  The idea is that you submit your transaction to them, and they will include your transaction in the next block they mine.  I think it's a fantastic technical idea, however it comes at a cost.

I find it quite distasteful that they are subjecting Bitcoin users to the ugly scaling debate with their political propaganda against the Core team before you are allowed to use their "service."

It's obvious the purpose of this is to lure frustrated Bitcoiners with a promise of action and then subjecting them to a purely political point of view.

ViaBTC is of the opinion that the current "Bitcoin Core + Blockstream” Bitcoin development team is not taking satisfactory steps to ensure the growth and advancement of Bitcoin in accordance with satoshi's original white paper, and is in fact actively harming the health of the Bitcoin economy by actively stifling efforts to solve some of Bitcoin’s most pressing problems.

The reason why this Transaction Accelerator exists is due to problems created by Bitcoin Core’s inability and unwillingness to deliver any sort of meaningful protocol upgrade over the last several years, against the desires of the Bitcoin community at large. Those who have attempted to deliver the necessary upgrade have been vilified and silenced by Bitcoin Core and their affiliated censored media channels. Average users who dare to disagree are banned and have their comments deleted.

Rather than viewing Bitcoin as a fast, affordable, and reliable payments network, as it has been for years, they aim to transform Bitcoin into what they call “a settlement layer”, defined by high fees, unreliable transactions, and a labyrinth of complex overlays that require third-party trust on top of the basic system.

This development team has further prevented the ability of the Bitcoin community to freely discuss this radical change of direction by tacitly, and in some cases explicitly, supporting censorship of Bitcoin’s largest discussion forums, along with the outright banning of many prominent developers, businesses, and community members who have differences of opinion with Bitcoin Core’s current roadmap. After years of stagnation, stalling, and broken promises, it has become clear that positive change will not come from Bitcoin Core, but rather from the diverse group of alternate development teams that have emerged as a result of Core’s tactics.

The following article cites many specific examples of the rampant censorship on the "r/bitcoin" sub-reddit:

A (Brief and Incomplete) History of Censorship in r/bitcoin, by John Blocke

As efforts by the community to resolve these problems have failed, it is necessary to resolve them with a different approach:

By unsubscribing to /r/bitcoin, and subscribing to sub-reddit /r/btc you take a stand against censorship.
By running an alternate implementation, such as Bitcoin Unlimited or Bitcoin Classic, you are casting a vote against the current development team.
There are currently several other cryptocurrencies which perform better than Bitcoin, have more features than Bitcoin, have a more receptive and open development team than Bitcoin, and have a better upgrade path than Bitcoin. The only remaining qualities that Bitcoin has over these other cryptocurrencies are its first-mover advantage and its pre-existing network of users and infrastructure. If these qualities are not preserved, Bitcoin will continue to lose market share to competing cryptocurrencies.

The current Bitcoin Core developers are rapidly eroding this last advantage with poor design choices, a failure to understand basic economic principles, and promoting censorship through their support of censored discussion forums and their vilification of forums committed to free speech.

We encourage all members of the Bitcoin community to make their voices heard, and to stand up for what is right.



4  Bitcoin / Mining speculation / Bad for Bitcoin scenario question on: December 20, 2015, 11:01:41 PM
Could a powerful enough entity with huge resources develop enough hashpower privately to build the difficulty rate so high that if they removed their hashpower from the network suddenly, it would crash Bitcoin economy due to new blocks taking hours (or days) to confirm?

Plausible? Possible? Impossible?

Thank you
5  Alternate cryptocurrencies / Altcoin Discussion / WHAT is happening to Litecoin in China?! :o on: November 27, 2015, 01:41:27 PM

Seems they figured out a shortcut to moon!!

6  Economy / Speculation / What if we sit at $310-$340 for 2 more years? on: November 21, 2015, 01:15:04 PM
The stability would bring constancy which would shut down Uncle Ben's argument, but wouldn't it be boring?

What do you think?
7  Bitcoin / Mining software (miners) / need to simulate a windows system hard error on: August 15, 2013, 08:39:56 PM
I'm looking for utility that will generate a windows system hard error in windows XP 32-bit.
(I also can develop in VB6 if anyone knows of a technique to generate the error.)

It needs to be a reproducible effect that generates the message "xxxx.exe has encountered an error and needs to close".

I'm trying to monitor mining processes that seems to crash every few days or so, and I want to detect when the process terminates so I can automate their restart.

The problem is the process doesn't terminate until I click "Don't send error report" so the monitoring software doesn't see the process as failed.

I found a regfix to disable the errors, but I can't test it properly without being able to simulate the error in the first place.


8  Bitcoin / Hardware / BFL Batch #1 Order Cut Off estimate on: February 06, 2013, 07:55:11 PM
By my estimate, the "BEST CASE SCENARIO" cut off date for BFL's batch #1 is for orders placed on or before August 16, 2012, or order number 5515 or lower.  This will give you a ballpark idea if you will recieve your BFL ASIC from the 1st shipment of chips.

I arrived at this number from this quote by Josh on BFL forums:

Yes, it is... We only have around 6000 chips in the first batch, definitely not enough to get us into September, as the bulk of our orders are bunched up around June/July/August.

and using the formula of 1 chip per Jalapeno, 4 chips for little single, and 8 chips for SC single, and 200 chips for Minirig, combined with the info from the waitlist thread found here.

Caveat: This estimate is the perfect scenario where every order is posted on the wait list and BFL recieves 6000 chips with no duds.

Obviously, less working chips and unreported orders will affect the cutoff order date negatively.

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