$55 Million for Blockstream to build out Bitcoin!

[NorrisK]

No dev team can continue without money. It is not like we are paying them to code on bitcoin right?

We need to accept that there will be investments from big corporations and venture capital. It is the only way to gather enough funds to see this true.

The risk may be that the new code will be something they would like to see for some product or services, but that is alright if it is not sneaky business and trying to slide it past everybody imo.

[1714060038]

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[btcxyzzz]

Corporate backing for bitcoin/Bitcoin developers. No one else sees a problem with this?

Normal people do have a problem. I have a problem. Blockstream is there to destroy Bitcoin, doing it for bankster's dimes. So obvious it screams.

[Zarathustra]

Gawd dammit, Ice, I agree with you for once.  

Only. The. Code. Matters.

So true.

Crikey, isn't that a sign of the Bitpocalypse?   

But ya, only the code matters.

All of this anti-Blockstream FUD fixating on who wrote the code, why they wrote it, where they wrote it, what they were wearing when they wrote it, what they ate for breakfast, what club they went to last night, and where their pets' vet went to elementary school is an irrelevant distraction.

The Monero Trolls and other Altcoiners of course welcome all addition capital invested to cripple Bitcoin.

[sAt0sHiFanClub]

Gawd dammit, Ice, I agree with you for once.  

Only. The. Code. Matters.

So true.

Crikey, isn't that a sign of the Bitpocalypse?   

But ya, only the code matters.

All of this anti-Blockstream FUD fixating on who wrote the code, why they wrote it, where they wrote it, what they were wearing when they wrote it, what they ate for breakfast, what club they went to last night, and where their pets' vet went to elementary school is an irrelevant distraction.

The Monero Trolls and other Altcoiners of course welcome all addition capital invested to cripple Bitcoin.

They have leveraged the work of countless people over 7 years to build out a ledgering system that has proved itself to be largely unbreakable.( all the scams/thefts from bitcoin have been a result of human failings rather than anything in the protocol, but i'm open to correction). The last few holes in such things as 0-conf and tx malleability are being patched up as we speak.

But what some of the flag wavers fail to realise is that it is just about the code - not the bitcoins themselves. Banks obviously want to make money, but their main business is simply the accurate accounting of transactions. And that is what the blockchain provides. The idea that a 2-way peg with bitcoins implies that a $1m transaction on a sidechain will require $1m worth of bitcoin is naive.  The peg will simply act in the same manner that a government stamp has when conveying title on a land deed. It gives the underlying transaction legitimacy by virtue of its existence. The stamp itself is of nominal value. This is why a strict limit is important - its the fee paid that signifies the value, not the transaction amount.

I think this announcement signifies a clear line in the sand as we move from seeing bitcoin as a peer to peer electronic cash system to it simply being an accounting backbone for multi-billion dollar financial institutions. Make of that what you will, and what impact it will have for the value of bitcoin.

When is the last time you heard much discussion of rolling out payment solutions for the public or multi million dollar investments in the firms working on them?

[Zarathustra]

Gawd dammit, Ice, I agree with you for once.  

Only. The. Code. Matters.

So true.

Crikey, isn't that a sign of the Bitpocalypse?    

But ya, only the code matters.

All of this anti-Blockstream FUD fixating on who wrote the code, why they wrote it, where they wrote it, what they were wearing when they wrote it, what they ate for breakfast, what club they went to last night, and where their pets' vet went to elementary school is an irrelevant distraction.

The Monero Trolls and other Altcoiners of course welcome all addition capital invested to cripple Bitcoin.

They have leveraged the work of countless people over 7 years to build out a ledgering system that has proved itself to be largely unbreakable.( all the scams/thefts from bitcoin have been a result of human failings rather than anything in the protocol, but i'm open to correction). The last few holes in such things as 0-conf and tx malleability are being patched up as we speak.

But what some of the flag wavers fail to realise is that it is just about the code - not the bitcoins themselves. Banks obviously want to make money, but their main business is simply the accurate accounting of transactions. And that is what the blockchain provides. The idea that a 2-way peg with bitcoins implies that a $1m transaction on a sidechain will require $1m worth of bitcoin is naive.  The peg will simply act in the same manner that a government stamp has when conveying title on a land deed. It gives the underlying transaction legitimacy by virtue of its existence. The stamp itself is of nominal value. This is why a strict limit is important - its the fee paid that signifies the value, not the transaction amount.

I think this announcement signifies a clear line in the sand as we move from seeing bitcoin as a peer to peer electronic cash system to it simply being an accounting backbone for multi-billion dollar financial institutions. Make of that what you will, and what impact it will have for the value of bitcoin.

When is the last time you heard much discussion of rolling out payment solutions for the public or multi million dollar investments in the firms working on them?

Do you think the Blockstream/PWC/AXA Softfork will be the winner against the hard fork proposals? Will the miners upgrade to Blockstream/PWC/AXA 0.12 instead of Classic/BU?
By the way: my car is insured by AXA.

[sAt0sHiFanClub]

Gawd dammit, Ice, I agree with you for once.  

Only. The. Code. Matters.

So true.

Crikey, isn't that a sign of the Bitpocalypse?    

But ya, only the code matters.

All of this anti-Blockstream FUD fixating on who wrote the code, why they wrote it, where they wrote it, what they were wearing when they wrote it, what they ate for breakfast, what club they went to last night, and where their pets' vet went to elementary school is an irrelevant distraction.

The Monero Trolls and other Altcoiners of course welcome all addition capital invested to cripple Bitcoin.

They have leveraged the work of countless people over 7 years to build out a ledgering system that has proved itself to be largely unbreakable.( all the scams/thefts from bitcoin have been a result of human failings rather than anything in the protocol, but i'm open to correction). The last few holes in such things as 0-conf and tx malleability are being patched up as we speak.

But what some of the flag wavers fail to realise is that it is just about the code - not the bitcoins themselves. Banks obviously want to make money, but their main business is simply the accurate accounting of transactions. And that is what the blockchain provides. The idea that a 2-way peg with bitcoins implies that a $1m transaction on a sidechain will require $1m worth of bitcoin is naive.  The peg will simply act in the same manner that a government stamp has when conveying title on a land deed. It gives the underlying transaction legitimacy by virtue of its existence. The stamp itself is of nominal value. This is why a strict limit is important - its the fee paid that signifies the value, not the transaction amount.

I think this announcement signifies a clear line in the sand as we move from seeing bitcoin as a peer to peer electronic cash system to it simply being an accounting backbone for multi-billion dollar financial institutions. Make of that what you will, and what impact it will have for the value of bitcoin.

When is the last time you heard much discussion of rolling out payment solutions for the public or multi million dollar investments in the firms working on them?

Do you think the Blockstream/PWC/AXA Softfork will be the winner against the hard fork proposals? Will the miners upgrade to Blockstream/PWC/AXA 0.12 instead of Classic/BU?
By the way: my car is insured by AXA.

The more pragmatic miners support Classic because its their best bet to secure the value of Bitcoin into the near future. They currently realise most of their income from the sale of bitcoins as a value token, whereas the blockstream model could very well kill that off in favour of artificially induced fees. With no clear indication of how this will work, I imagine they will opt to preserve bitcoin as peer-to-peer cash system for the time being.

The part of AXA involved with this appears to be a €250m fund from their reserve pool that they are dedicating to VC projects. Exactly how much they have committed has never been stated. They haven't mentioned it on their website yet.  Oddly enough, they posted a list of 'Top 10' bitcoin projects in 2016 - Blockstream is not mentioned, but Ethereum is. 

[BlindMayorBitcorn]

First they laugh at you, then they insult you, then they toss wads of sweaty money at you and you lap it up like a poodle. Way to cypherpunk, Blockstream!

[iCEBREAKER]

First they laugh at you, then they insult you, then they toss wads of sweaty money at you and you lap it up like a poodle. Way to cypherpunk, Blockstream!

Please be advised the Bitcoin community, being mostly libertarian/minarchist/anarchist/agorist in nature, is overwhelmingly pro-enterprise.

Your appeals to anti-capitalist sentiment and class/wealth envy will fall on deaf ears.

Save the Bernie Sanders schtick for the trendy Reddit progs and SJWs.  It has no power here!  

[allthingsluxury]

WOW, that is very very cool and I am glad to hear. Great news for them 

[BlindMayorBitcorn]

WOW, that is very very cool and I am glad to hear. Great news for them 

https://news.bitcoin.com/the-curious-case-of-gregory-maxwell-and-the-lightning-network/

[BlindMayorBitcorn]

Who would be considered the controlling parties? This might imaginably fall back on the developers, in particularly the core developers. The responsibility to incorporate, it might be argued, falls back on the development team for not incorporating.

Bitcoin!

[sAt0sHiFanClub]

WOW, that is very very cool and I am glad to hear. Great news for them  

https://news.bitcoin.com/the-curious-case-of-gregory-maxwell-and-the-lightning-network/

You know what? It wont make a blind bit of difference.

gmax could just come out and say "Fuck you buttcoiners, my options are worth $8m now!!!" and the same accounts will reply with:

Bullish!
 

Thread should be titled:  ( Re: $55 Million for Blockstream to build sell out Bitcoin! )

[sAt0sHiFanClub]

Only. The. Code. Matters.

"We were one of the first companies that painted a vision for interoperable blockchains, that there wasn’t going to be one blockchain, but many of them, all building off the bitcoin codebase to deliver the technology."

In particular, Hill cited the recent decision by blockchain startup Digital Asset Holdings to use Blockstream’s tech as part of its Open Ledger Project, an open-source blockchain initiative being overseen by the Linux Foundation, as an example how the bitcoin codebase can become more relevant for commercial applications.

As such, Hill suggested Blockstream’s value proposition will be in its ability to adapt bitcoin’s codebase for other production use cases

https://www.youtube.com/watch?v=_8mduTEvnU0

[blunderer]

...
You know what? It wont make a blind bit of difference.

gmax could just come out and say "Fuck you buttcoiners, my options are worth $8m now!!!" and the same accounts will reply with:

Bullish!
 

Thread should be titled:  ( Re: $55 Million for Blockstream to build sell out Bitcoin! )

"You're payin' 5 bucks and I'm makin' 10,000 baby, so screw ya!"--Iggy Pop

[Denker]

WOW, that is very very cool and I am glad to hear. Great news for them 

https://news.bitcoin.com/the-curious-case-of-gregory-maxwell-and-the-lightning-network/

Come on please! That's just biased bs!!And you post that crap in almost every thread here.Ridiculous!
This is someone's written opinion and far away from being neutral news!!!
But hey what to expect from this site right? Nothing!!

[bjbear123]

I think this is a good sign, anything to expand and improve bitcoin is a positive

[BlindMayorBitcorn]

WOW, that is very very cool and I am glad to hear. Great news for them 

https://news.bitcoin.com/the-curious-case-of-gregory-maxwell-and-the-lightning-network/

Come on please! That's just biased bs!!And you post that crap in almost every thread here.Ridiculous!
This is someone's written opinion and far away from being neutral news!!!
But hey what to expect from this site right? Nothing!!

You talkin' to me??

[sAt0sHiFanClub]

WOW, that is very very cool and I am glad to hear. Great news for them 

https://news.bitcoin.com/the-curious-case-of-gregory-maxwell-and-the-lightning-network/

Come on please! That's just biased bs!!And you post that crap in almost every thread here.Ridiculous!
This is someone's written opinion and far away from being neutral news!!!
But hey what to expect from this site right? Nothing!!

Okay, split away the bias, the opinion and the non-news - what was inaccurate on the substance of the exchange on the subredit?

What specific points do you feel were misrepresented?

(and I'm not condoning the article)

[bargainbin]

WOW, that is very very cool and I am glad to hear. Great news for them 

https://news.bitcoin.com/the-curious-case-of-gregory-maxwell-and-the-lightning-network/

Come on please! That's just biased bs!!And you post that crap in almost every thread here.Ridiculous!
This is someone's written opinion and far away from being neutral news!!!
But hey what to expect from this site right? Nothing!!

You talkin' to me??

Where did you see that biased Bitcoin article, Sweety?

[croTek4]

"We are not that interested in the actual bitcoin as a currency"

-Manish Agarwal, general partner at AXA Strategic Ventures


http://www.coindesk.com/blockstream-investors-see-commercial-use-cases-for-bitcoin-blockchain/