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Author Topic: What is the fastest way to track the appearance of a new block in the blockchain  (Read 235 times)
CHKALOV
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November 08, 2017, 12:23:39 PM
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Hi all, What is the fastest way to track the appearance of a new block in the blockchain? Bitcoin core? Other minds?
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According to NIST and ECRYPT II, the cryptographic algorithms used in Bitcoin are expected to be strong until at least 2030. (After that, it will not be too difficult to transition to different algorithms.)
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DannyHamilton
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November 08, 2017, 12:58:11 PM
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Hi all, What is the fastest way to track the appearance of a new block in the blockchain? Bitcoin core? Other minds?

Any well connected peer on the network will be fast. Detecting it is really a matter of waiting until a peer that you are connected to has received it, verified it, and then forwarded it to you.

Once you've detected it, you'll need to verify that it is valid. To do that without trusting any third party you'll need a full node implementation. There are a few of them out there.  I'd suggest either Bitcoin Core (written in c++) or Bcoin (written in Node.js).

CHKALOV
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November 08, 2017, 01:39:23 PM
Last edit: November 08, 2017, 02:05:48 PM by CHKALOV
 #3

Hi all, What is the fastest way to track the appearance of a new block in the blockchain? Bitcoin core? Other minds?

Any well connected peer on the network will be fast. Detecting it is really a matter of waiting until a peer that you are connected to has received it, verified it, and then forwarded it to you.

Once you've detected it, you'll need to verify that it is valid. To do that without trusting any third party you'll need a full node implementation. There are a few of them out there.  I'd suggest either Bitcoin Core (written in c++) or Bcoin (written in Node.js).

Thanks for your response but trust to 3rd party in not an issue if it's the fastest way I'd use it. I want to track the appearance of the 494784 block as soon as possible in order to sell my BTCs at the next moment.
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November 08, 2017, 04:13:00 PM
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Thanks for your response but trust to 3rd party in not an issue if it's the fastest way I'd use it. I want to track the appearance of the 494784 block as soon as possible in order to sell my BTCs at the next moment.
I assume you hold them on an exchange, which means you don't need to track the appearance of the new block, but you need to track when the exchange does that.
Blocks can always orhpan, so it's never instantly certain the block is final.

An easy way to check it, is watching http://bitbonkers.com/ on your screen. Turn on the volume and wait for the block to fall.
I see no reason to quickly sell right after the fork BTW.

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November 08, 2017, 04:48:28 PM
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Thanks for your response but trust to 3rd party in not an issue if it's the fastest way I'd use it. I want to track the appearance of the 494784 block as soon as possible in order to sell my BTCs at the next moment.
I assume you hold them on an exchange, which means you don't need to track the appearance of the new block, but you need to track when the exchange does that.
Blocks can always orhpan, so it's never instantly certain the block is final.

An easy way to check it, is watching http://bitbonkers.com/ on your screen. Turn on the volume and wait for the block to fall.
I see no reason to quickly sell right after the fork BTW.

Thanks for your response. Your assumption is correct. I hold bitcoins on Bitfinex but I do not want to wait until Bitfinex add the tokens. I believe that the BTC price will drop sharply right after the fork.
P.S. Is there a service that would show orhpan blocks statistic, I thought that now it is a rare case.
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November 08, 2017, 06:39:08 PM
Last edit: November 08, 2017, 06:50:06 PM by LoyceV
 #6

Thanks for your response. Your assumption is correct. I hold bitcoins on Bitfinex but I do not want to wait until Bitfinex add the tokens. I believe that the BTC price will drop sharply right after the fork.
The fork is called off: 2x Called Off: Bitcoin Hard Fork Suspended for Lack of Consensus
Bitcoin spiked to $7828 and is now dropping to $7294 $7123 at https://bitcoinaverage.com/en/bitcoin-price/btc-to-usd.
It seems the panic sales you were hoping for have started already.
Altcoins are spiking up.

This is really too bad, with the current fees and full blocks Bitcoin can't handle more users, and without more users it can't grow.

Quote
P.S. Is there a service that would show orhpan blocks statistic, I thought that now it is a rare case.
https://blockchain.info/orphaned-blocks

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