Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[d_eddie]

So really all I know is that they intended to "scale" by increasing the blocksize. ... Has anything changed? Are they proposing realistic alternatives to lightning for scaling? Are there new developments that I should be aware of?

0 confirmation transactions. No, seriously - that's the amazing and innovative feature bcash has implemented to try to compete with lightning.

What, did they get some sort of commitment from a federation of miners/pools that when they receive conflicting transactions in their mempool they will mine the one they encountered first rather than the one with the larger fee? That could be done with like 2 lines of code. If it's more interesting than that than I will go do some research.

You mean disabling replace by fee?

[HairyMaclairy]

So really all I know is that they intended to "scale" by increasing the blocksize. ... Has anything changed? Are they proposing realistic alternatives to lightning for scaling? Are there new developments that I should be aware of?

0 confirmation transactions. No, seriously - that's the amazing and innovative feature bcash has implemented to try to compete with lightning.

What, did they get some sort of commitment from a federation of miners/pools that when they receive conflicting transactions in their mempool they will mine the one they encountered first rather than the one with the larger fee? That could be done with like 2 lines of code. If it's more interesting than that than I will go do some research.

You mean disabling replace by fee?

Does that mean all I have to do to double spend is send the funds to myself seconds before I send them to the victim?

[Rosewater Foundation]

meh. weak reddit share is weak. need to find out where v8 is harvesting his materials.

[Syke]

Does that mean all I have to do to double spend is send the funds to myself seconds before I send them to the victim?

Sure, if you can guarantee that you will mine the next block yourself.

[d_eddie]

So really all I know is that they intended to "scale" by increasing the blocksize. ... Has anything changed? Are they proposing realistic alternatives to lightning for scaling? Are there new developments that I should be aware of?

0 confirmation transactions. No, seriously - that's the amazing and innovative feature bcash has implemented to try to compete with lightning.

What, did they get some sort of commitment from a federation of miners/pools that when they receive conflicting transactions in their mempool they will mine the one they encountered first rather than the one with the larger fee? That could be done with like 2 lines of code. If it's more interesting than that than I will go do some research.

You mean disabling replace by fee?

Does that mean all I have to do to double spend is send the funds to myself seconds before I send them to the victim?

If the protocol is first transaction gets blockspace, the victim's transaction won't find its way into a block. Double spend will fail, but legitimate RBF transactions could be impossible.

[d_eddie]

meh. weak reddit share is weak. need to find out where v8 is harvesting his materials.

Hard to beat at scouting, and for good taste. We're growing the next legends here.

[HairyMaclairy]

So really all I know is that they intended to "scale" by increasing the blocksize. ... Has anything changed? Are they proposing realistic alternatives to lightning for scaling? Are there new developments that I should be aware of?

0 confirmation transactions. No, seriously - that's the amazing and innovative feature bcash has implemented to try to compete with lightning.

What, did they get some sort of commitment from a federation of miners/pools that when they receive conflicting transactions in their mempool they will mine the one they encountered first rather than the one with the larger fee? That could be done with like 2 lines of code. If it's more interesting than that than I will go do some research.

You mean disabling replace by fee?

Does that mean all I have to do to double spend is send the funds to myself seconds before I send them to the victim?

If the protocol is first transaction gets blockspace, the victim's transaction won't find its way into a block. Double spend will fail, but legitimate RBF transactions could be impossible.

But if the victim is accepting 0 conf, then the attack will likely succeed unless the victims node is particularly well connected

[Arriemoller]

I did look but TIL there is not a single funny chopstick joke in the known world. Fact.

Chopcoin is so fun and amazingly addictive....  Despite of losing mostly, i enjoy the game.

https://me.me/i/so-which-one-of-you-is-the-fork-none-20608853

[Syke]

But if the victim is accepting 0 conf, then the attack will likely succeed unless the victims node is particularly well connected

You only get the coins if someone mines a block with the transaction giving you the coins. So roughly speaking, if your node is better connected (with higher power miners) than the victim's node you have a good chance of winning.

[d_eddie]

So really all I know is that they intended to "scale" by increasing the blocksize. ... Has anything changed? Are they proposing realistic alternatives to lightning for scaling? Are there new developments that I should be aware of?

0 confirmation transactions. No, seriously - that's the amazing and innovative feature bcash has implemented to try to compete with lightning.

What, did they get some sort of commitment from a federation of miners/pools that when they receive conflicting transactions in their mempool they will mine the one they encountered first rather than the one with the larger fee? That could be done with like 2 lines of code. If it's more interesting than that than I will go do some research.

You mean disabling replace by fee?

Does that mean all I have to do to double spend is send the funds to myself seconds before I send them to the victim?

If the protocol is first transaction gets blockspace, the victim's transaction won't find its way into a block. Double spend will fail, but legitimate RBF transactions could be impossible.

But if the victim is accepting 0 conf, then the attack will likely succeed unless the victims node is particularly well connected

(EDIT 2 the following for accuracy/factual accurateness.)

With 0 conf, full nodes have to cache transactions since the latest block and stop propagating newer conflicting ones. For the attack to work, the cheater's transaction must already have been submitted before the victim's after all. As long as the network doesn't selectively hide information from certain nodes, cheating this way will fail.

(EDIT 1: as long as 0 conf implies "earlier tx gets blockspace" rule.)

Any fault in my reasoning? Syke? Experts?

[Elwar]

I was sitting at the pool here in Pattaya and some thai girl was taking off her t-shirt that said

Hold
On for
Dear
Life

on the back. Then she hung out with her foreign boyfriend in the pool. I figured he was the rich bitcoin guy that got his hot young thai girl (with fake titties and all).

As I was leaving I commented "Awesome t-shirt man". They looked at me like I was crazy.

[Rosewater Foundation]

I was sitting at the pool here in Pattaya and some thai girl was taking off her t-shirt that said

Hold
On for
Dear
Life

on the back. Then she hung out with her foreign boyfriend in the pool. I figured he was the rich bitcoin guy that got his hot young thai girl (with fake titties and all).

As I was leaving I commented "Awesome t-shirt man". They looked at me like I was crazy.

4/20 must be whisper quiet in Thailand. If you get back to Bangkok you ought to make an attempt to visit Variety Jones. Poor guy must be awful lonely in there.

[Syke]

4/20 must be whisper quiet in Thailand.

Progress is being made! http://www.khaosodenglish.com/news/crimecourtscalamity/2018/01/17/medical-marijuana-dispensaries-next-thailand/

[Syke]

I was sitting at the pool here in Pattaya and some thai girl was taking off her t-shirt that said

Hold
On for
Dear
Life

on the back. Then she hung out with her foreign boyfriend in the pool. I figured he was the rich bitcoin guy that got his hot young thai girl (with fake titties and all).

As I was leaving I commented "Awesome t-shirt man". They looked at me like I was crazy.

Songkran Pattaya was a blast. I'm definitely moving there.

[Rosewater Foundation]

4/20 must be whisper quiet in Thailand.

Progress is being made! http://www.khaosodenglish.com/news/crimecourtscalamity/2018/01/17/medical-marijuana-dispensaries-next-thailand/

Asian people smoking weed. Now I've seen everything.

[Searing]

I was sitting at the pool here in Pattaya and some thai girl was taking off her t-shirt that said

Hold
On for
Dear
Life

on the back. Then she hung out with her foreign boyfriend in the pool. I figured he was the rich bitcoin guy that got his hot young thai girl (with fake titties and all).

As I was leaving I commented "Awesome t-shirt man". They looked at me like I was crazy.

Damn....this is why I need to HODL and see 40k BTC.....(good to have goals!)

[bitserve]

The growth of Bitcoin ATM's keeps increasing... currently at an average of 8 new ATMs installed DAILY.

https://coinatmradar.com/charts/#growth

I always keep an eye on this because I consider ATM's are one of the key factors/signals of Bitcoin real adoption and usage (as a storage of value, at least).

Some areas like Las Vegas with 65 ATM's over a relatively small area are reaching some pretty good density already.

Unfortunately the fees, most being around 9/10%, are a complete rip off, but there is a selected few with more "reasonable" fees like the one at the D (which I think was the fiist ATM in las vegas) at 6.9% for selling or the one at the "Heart Attack Grill" with an even better sell fee of "just" 3.5%.

Btw, anyone have a graph of how regular bank ATM's historically grew? Would be a nice comparison...

[Elwar]

Random Thought: 0-conf trying to become a thing is some of the most retarded shit I've ever heard of in cryptospace.

0 confirmation transactions already exist...it's been a thing since Bitcoin existed, I pay

the thing is, do you trust the transaction if it's not confirmed

Maybe they will push for some whitelist of trusted people or something stupid like that.

[TERA2]

I would trust 0 confirms for small every day microtransactions like groceries. Worse case if someone manages to pull off a sophisticated double spend attack while standing at the checkout line, then the merchant can put that person on a crypto blacklist and mail them a bill

[Toxic2040]

The growth of Bitcoin ATM's keeps increasing... currently at an average of 8 new ATMs installed DAILY.

https://coinatmradar.com/charts/#growth

I always keep an eye on this because I consider ATM's are one of the key factors/signals of Bitcoin real adoption and usage (as a storage of value, at least).

Some areas like Las Vegas with 65 ATM's over a relatively small area are reaching some pretty good density already.

Unfortunately the fees, most being around 9/10%, are a complete rip off, but there is a selected few with more "reasonable" fees like the one at the D (which I think was the fiist ATM in las vegas) at 6.9% for selling or the one at the "Heart Attack Grill" with an even better sell fee of "just" 3.5%.

Btw, anyone have a graph of how regular bank ATM's historically grew? Would be a nice comparison...

https://web.archive.org/web/20161223062608/https://www.rbrlondon.com/about/G20_Press_Release_091015.pdf