Help Center – slushpool.com

AMA Bitcoin Mining / Stratum V2 — We are Braiins, the company behind Slush Pool and Stratum V2. We’re joined by Matt Corallo and Peter Todd. Ask us anything!

Hi Bitcoin! We are Jan Capek (u/janbraiins) and Pavel Moravec (u/p-m-o), co-founders of Braiins (the company behind Slush Pool & Braiins OS). We recently published the specification for Stratum V2 — a new mining protocol that improves the decentralization, security, and efficiency of Bitcoin mining.
We know the biggest issues miners and mining pools face based on our years of experience operating Slush Pool, and this protocol addresses those problems. You can find the documentation at stratumprotocol.org.
Matt Corallo (u/TheBlueMatt) will also participate in the AMA. He joined us in Prague last September to hash out the details of the spec and his idea of allowing miners to select their own work in BetterHash is also implemented in Stratum V2. Peter Todd (u/petertodd) also joined the V2 team with his security expertise and will participate in this AMA.
Ask us anything! We’ll try to begin answering questions on Thursday around 4pm CET (10am EST).
P.S. The V2 technical specification is currently available to the public for comments and general feedback.
submitted by SlushPool to Bitcoin [link] [comments]

r/Bitcoin recap - July 2019

Hi Bitcoiners!
I’m back with the 31st monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in July 2019
Adoption
Development
Security
Mining
Business
Education
Regulation & Politics
Archeology (Financial Incumbents)
Price & Trading
Fun & Other
submitted by SamWouters to Bitcoin [link] [comments]

F2Pool adds new Classic mining address for U.S miners: stratum+tcp://stratum-us.f2xtpool.com:3333. F2Pool Classic hashrate now at 13P+.

F2Pool adds new Classic mining address for U.S miners: stratum+tcp://stratum-us.f2xtpool.com:3333. F2Pool Classic hashrate now at 13P+. submitted by kcbitcoin to btc [link] [comments]

The Bitcoin.com Pool is now open! Paying more than any other Bitcoin mining pool in the world!

The Bitcoin.com Pool is now open! Paying more than any other Bitcoin mining pool in the world! submitted by MemoryDealers to btc [link] [comments]

Found my bitcoin wallet address, dont know where/how to access it....

Bare with me here, it's been a log time since I even looked at bitcoin but recently remembered I tried to setup a mining machine back in 2013. I found my account to Slush's Pool, and in there, I found my bitcoin wallet address. it starts with "1CXP"

The issue I have now is, where/how the hell do I access my wallet? I don't remember where I set it up, or if it was something local to the machine I was using at the time. Hell, I don't even know if I have anything in it, but I'd like to find out.
submitted by ironshoe to Bitcoin [link] [comments]

Story about ESEA installing Bitcoin mining software is currently number 1 in /r/Games

Story about ESEA installing Bitcoin mining software is currently number 1 in /Games submitted by ThePiachu to Bitcoin [link] [comments]

An extensive guide for cashing out bitcoin and cryptocurrencies into private banks

Hey guys.
Merry Xmas !
I am coming back to you with a follow up post, as I have helped many people cash out this year and I have streamlined the process. After my original post, I received many requests to be more specific and provide more details. I thought that after the amazing rally we have been attending over the last few months, and the volatility of the last few days, it would be interesting to revisit more extensively.
The attitude of banks around crypto is changing slowly, but it is still a tough stance. For the first partial cash out I operated around a year ago for a client, it took me months to find a bank. They wouldn’t want to even consider the case and we had to knock at each and every door. Despite all my contacts it was very difficult back in the days. This has changed now, and banks have started to open their doors, but there is a process, a set of best practices and codes one has to follow.
I often get requests from crypto guys who are very privacy-oriented, and it takes me months to have them understand that I am bound by Swiss law on banking secrecy, and I am their ally in this onboarding process. It’s funny how I have to convince people that banks are legit, while on the other side, banks ask me to show that crypto millionaires are legit. I have a solid background in both banking and in crypto so I manage to make the bridge, but yeah sometimes it is tough to reconcile the two worlds. I am a crypto enthusiast myself and I can say that after years of work in the banking industry I have grown disillusioned towards banks as well, like many of you. Still an account in a Private bank is convenient and powerful. So let’s get started.
There are two different aspects to your onboarding in a Swiss Private bank, compliance-wise.
*The origin of your crypto wealth
*Your background (residence, citizenship and probity)
These two aspects must be documented in-depth.
How to document your crypto wealth. Each new crypto millionaire has a different story. I may detail a few fun stories later in this post, but at the end of the day, most of crypto rich I have met can be categorized within the following profiles: the miner, the early adopter, the trader, the corporate entity, the black market, the libertarian/OTC buyer. The real question is how you prove your wealth is legit.
1. Context around the original amount/investment Generally speaking, your first crypto purchase may not be documented. But the context around this acquisition can be. I have had many cases where the original amount was bought through Mtgox, and no proof of purchase could be provided, nor could be documented any Mtgox claim. That’s perfectly fine. At some point Mtgox amounted 70% of the bitcoin transactions globally, and people who bought there and managed to withdraw and keep hold of their bitcoins do not have any Mtgox claim. This is absolutely fine. However, if you can show me the record of a wire from your bank to Tisbane (Mtgox's parent company) it's a great way to start.
Otherwise, what I am trying to document here is the following: I need context. If you made your first purchase by saving from summer jobs, show me a payroll. Even if it was USD 2k. If you acquired your first bitcoins from mining, show me the bills of your mining equipment from 2012 or if it was through a pool mine, give me your slushpool account ref for instance. If you were given bitcoin against a service you charged, show me an invoice.
2. Tracking your wealth until today and making sense of it. What I have been doing over the last few months was basically educating compliance officers. Thanks God, the blockchain is a global digital ledger! I have been telling my auditors and compliance officers they have the best tool at their disposal to lead a proper investigation. Whether you like it or not, your wealth can be tracked, from address to address. You may have thought all along this was a bad feature, but I am telling you, if you want to cash out, in the context of Private Banking onboarding, tracking your wealth through the block explorer is a boon. We can see the inflows, outflows. We can see the age behind an address. An early adopter who bought 1000 BTC in 2010, and let his bitcoin behind one address and held thus far is legit, whether or not he has a proof of purchase to show. That’s just common sense. My job is to explain that to the banks in a language they understand.
Let’s have a look at a few examples and how to document the few profiles I mentioned earlier.
The trader. I love traders. These are easy cases. I have a ton of respect for them. Being a trader myself in investment banks for a decade earlier in my career has taught me that controlling one’s emotions and having the discipline to impose oneself some proper risk management system is really really hard. Further, being able to avoid the exchange bankruptcy and hacks throughout crypto history is outstanding. It shows real survival instinct, or just plain blissed ignorance. In any cases traders at exchange are easy cases to corroborate since their whole track record is potentially available. Some traders I have met have automated their trading and have shown me more than 500k trades done over the span of 4 years. Obviously in this kind of scenario I don’t show everything to the bank to avoid information overload, and prefer to do some snacking here and there. My strategy is to show the early trades, the most profitable ones, explain the trading strategy and (partially expose) the situation as of now with id pages of the exchanges and current balance. Many traders have become insensitive to the risk of parking their crypto at exchange as they want to be able to trade or to grasp an occasion any minute, so they generally do not secure a substantial portion on the blockchain which tends to make me very nervous.
The early adopter. Provided that he has not mixed his coin, the early adopter or “hodler” is not a difficult case either. Who cares how you bought your first 10k btc if you bought them below 3$ ? Even if you do not have a purchase proof, I would generally manage to find ways. We just have to corroborate the original 30’000 USD investment in this case. I mainly focus on three things here:
*proof of early adoption I have managed to educate some banks on a few evidences specifically related to crypto markets. For instance with me, an old bitcointalk account can serve as a proof of early adoption. Even an old reddit post from a few years ago where you say how much you despise this Ripple premined scam can prove to be a treasure readily available to show you were early.
*story telling Compliance officers like to know when, why and how. They are human being looking for simple answers to simple questions and they don’t want like to be played fool. Telling the truth, even without a proof can do wonders, and even though bluffing might still work because banks don’t fully understand bitcoin yet, it is a risky strategy that is less and less likely to pay off as they are getting more sophisticated by the day.
*micro transaction from an old address you control This is the killer feature. Send a $20 worth transaction from an old address to my company wallet and to one of my partner bank’s wallet and you are all set ! This is gold and considered a very solid piece of evidence. You can also do a microtransaction to your own wallet, but banks generally prefer transfer to their own wallet. Patience with them please. they are still learning.
*signature message Why do a micro transaction when you can sign a message and avoid potentially tainting your coins ?
*ICO millionaire Some clients made their wealth participating in ETH crowdsale or IOTA ICO. They were very easy to deal with obviously and the account opening was very smooth since we could evidence the GENESIS TxHash flow.
The miner Not so easy to proof the wealth is legit in that case. Most early miners never took screenshot of the blocks on bitcoin core, nor did they note down the block number of each block they mined. Until the the Slashdot article from August 2010 anyone could mine on his laptop, let his computer run overnight and wake up to a freshly minted block containing 50 bitcoins back in the days. Not many people were structured enough to store and secure these coins, avoid malwares while syncing the blockchain continuously, let alone document the mined blocks in the process. What was 50 BTC worth really for the early miners ? dust of dollars, games and magic cards… Even miners post 2010 are generally difficult to deal with in terms of compliance onboarding. Many pool mining are long dead. Deepbit is down for instance and the founders are MIA. So my strategy to proof mining activity is as follow:
*Focusing on IT background whenever possible. An IT background does help a lot to bring some substance to the fact you had the technical ability to operate a mining rig.
*Showing mining equipment receipts. If you mined on your own you must have bought the hardware to do so. For instance mining equipment receipts from butterfly lab from 2012-2013 could help document your case. Similarly, high electricity bill from your household on a consistent basis back in the day could help. I have already unlocked a tricky case in the past with such documents when the bank was doubtful.
*Wallet.dat files with block mining transactions from 2011 thereafter This obviously is a fantastic piece of evidence for both you and me if you have an old wallet and if you control an address that received original mined blocks, (even if the wallet is now empty). I will make sure compliance officers understand what it means, and as for the early adopter, you can prove your control over these wallet through a microtransaction. With these kind of addresses, I can show on the block explorer the mined block rewards hitting at regular time interval, and I can even spot when difficulty level increased or when halvening process happened.
*Poolmining account. Here again I have educated my partner bank to understand that a slush account opened in 2013 or an OnionTip presence was enough to corroborate mining activity. The block explorer then helps me to do the bridge with your current wallet.
*Describing your set up and putting it in context In the history of mining we had CPU, GPU, FPG and ASICs mining. I will describe your technical set up and explain why and how your set up was competitive at that time.
The corporate entity Remember 2012 when we were all convinced bitcoin would take over the world, and soon everyone would pay his coffee in bitcoin? How naïve we were to think transaction fees would remain low forever. I don’t blame bitcoin cash supporters; I once shared this dream as well. Remember when we thought global adoption was right around the corner and some brick and mortar would soon accept bitcoin transaction as a common mean of payment? Well, some shop actually did accept payment and held. I had a few cases as such of shops holders, who made it to the multi million mark holding and had invoices or receipts to proof the transactions. If you are organized enough to keep a record for these trades and are willing to cooperate for the documentation, you are making your life easy. The digital advertising business is also a big market for the bitcoin industry, and affiliates partner compensated in btc are common. It is good to show an invoice, it is better to show a contract. If you do not have a contract (which is common since all advertising deals are about ticking a check box on the website to accept terms and conditions), there are ways around that. If you are in that case, pm me.
The black market Sorry guys, I can’t do much for you officially. Not that I am judging you. I am a libertarian myself. It’s just already very difficult to onboard legit btc adopters, so the black market is a market I cannot afford to consider. My company is regulated so KYC and compliance are key for me if I want to stay in business. Behind each case I push forward I am risking the credibility and reputation I have built over the years. So I am sorry guys I am not risking it to make an extra buck. Your best hope is that crypto will eventually take over the world and you won’t need to cash out anyway. Or go find a Lithuanian bank that is light on compliance and cooperative.
The OTC buyer and the libertarian. Generally a very difficult case. If you bought your stack during your journey in Japan 5 years ago to a guy you never met again; or if you accumulated on https://localbitcoins.com/ and kept no record or lost your account, it is going to be difficult. Not impossible but difficult. We will try to build a case with everything else we have, and I may be able to onboard you. However I am risking a lot here so I need to be 100% confident you are legit, before I defend you. Come & see me in Geneva, and we will talk. I will run forensic services like elliptic, chainalysis, or scorechain on an extract of your wallet. If this scan does not raise too many red flags, then maybe we can work together ! If you mixed your coins all along your crypto history, and shredded your seeds because you were paranoid, or if you made your wealth mining professionally monero over the last 3 years but never opened an account at an exchange. ¯_(ツ)_/¯ I am not a magician and don’t get me wrong, I love monero, it’s not the point.
Cashing out ICOs Private companies or foundations who have ran an ICO generally have a very hard time opening a bank account. The few banks that accept such projects would generally look at 4 criteria:
*Seriousness of the project Extensive study of the whitepaper to limit the reputation risk
*AML of the onboarding process ICOs 1.0 have no chance basically if a background check of the investors has not been conducted
*Structure of the moral entity List of signatories, certificate of incumbency, work contract, premises...
*Fiscal conformity Did the company informed the authorities and seek a fiscal ruling.
For the record, I am not into the tax avoidance business, so people come to me with a set up and I see if I can make it work within the legal framework imposed to me.
First, stop thinking Switzerland is a “offshore heaven” Swiss banks have made deals with many governments for the exchange of fiscal information. If you are a French citizen, resident in France and want to open an account in a Private Bank in Switzerland to cash out your bitcoins, you will get slaughtered (>60%). There are ways around that, and I could refer you to good tax specialists for fiscal optimization, but I cannot organize it myself. It would be illegal for me. Swiss private banks makes it easy for you to keep a good your relation with your retail bank and continue paying your bills without headaches. They are integrated to SEPA, provide ebanking and credit cards.
For information, these are the kind of set up some of my clients came up with. It’s all legal; obviously I do not onboard clients that are not tax compliant. Further disclaimer: I did not contribute myself to these set up. Do not ask me to organize it for you. I won’t.
EU tricks
Swiss lump sum taxation Foreign nationals resident in Switzerland can be taxed on a lump-sum basis if they are not gainfully employed in our country. Under the lump-sum tax regime, foreign nationals taking residence in Switzerland may choose to pay an expense-based tax instead of ordinary income and wealth tax. Attractive cantons for the lump sum taxation are Zug, Vaud, Valais, Grisons, Lucerne and Berne. To make it short, you will be paying somewhere between 200 and 400k a year and all expenses will be deductible.
Switzerland has adopted a very friendly attitude towards crypto currency in general. There is a whole crypto valley in Zug now. 30% of ICOs are operated in Switzerland. The reason is that Switzerland has thrived for centuries on banking secrecy, and today with FATCA and exchange of fiscal info with EU, banking secrecy is dead. Regulators in Switzerland have understood that digital ledger technologies were a way to roll over this competitive advantage for the generations to come. Switzerland does not tax capital gains on crypto profits. The Finma has a very pragmatic approach. They have issued guidance- updated guidelines here. They let the business get organized and operate their analysis on a case per case basis. Only after getting a deep understanding of the market will they issue a global fintech license in 2019. This approach is much more realistic than legislations which try to regulate everything beforehand.
Italy new tax exemption. It’s a brand new fiscal exemption. Go to Aoste, get residency and you could be taxed a 100k/year for 10years. Yes, really.
Portugal What’s crazy in Europe is the lack of fiscal harmonization. Even if no one in Brussels dares admit it, every other country is doing fiscal dumping. Portugal is such a country and has proved very friendly fiscally speaking. I personally have a hard time trusting Europe. I have witnessed what happened in Greece over the last few years. Some of our ultra high net worth clients got stuck with capital controls. I mean no way you got out of crypto to have your funds confiscated at the next financial crisis! Anyway. FYI
Malta Generally speaking, if you get a residence somewhere you have to live there for a certain period of time. Being stuck in Italy is no big deal with Schengen Agreement, but in Malta it is a different story. In Malta, the ordinary residence scheme is more attractive than the HNWI residence scheme. Being an individual, you can hold a residence permit under this scheme and pay zero income tax in Malta in a completely legal way.
Monaco Not suitable for French citizens, but for other Ultra High Net worth individual, Monaco is worth considering. You need an account at a local bank as a proof of fortune, and this account generally has to be seeded with at least EUR500k. You also need a proof of residence. I do mean UHNI because if you don’t cash out minimum 30m it’s not interesting. Everything is expensive in Monaco. Real Estate is EUR 50k per square meter. A breakfast at Monte Carlo Bay hotel is 70 EUR. Monaco is sunny but sometimes it feels like a golden jail. Do you really want that for your kids?
Dubaï
  1. Set up a company in Dubaï, get your resident card.
  2. Spend one day every 6 month there
  3. ???
  4. Be tax free
US tricks Some Private banks in Geneva do have the license to manage the assets of US persons and U.S citizens. However, do not think it is a way to avoid paying taxes in the US. Opening an account at an authorized Swiss Private banks is literally the same tax-wise as opening an account at Fidelity or at Bank of America in the US. The only difference is that you will avoid all the horror stories. Horror stories are all real by the way. In Switzerland, if you build a decent case and answer all the questions and corroborate your case in depth, you will manage to convince compliance officers beforehand. When the money eventually hits your account, it is actually available and not frozen.
The IRS and FATCA require to file FBAR if an offshore account is open. However FBAR is a reporting requirement and does not have taxes related to holding an account outside the US. The taxes would be the same if the account was in the US. However penalties for non compliance with FBAR are very large. The tax liability management is actually performed through the management of the assets ( for exemple by maximizing long term capital gains and minimizing short term gains).
The case for Porto Rico. Full disclaimer here. I am not encouraging this. Have not collaborated on such tax avoidance schemes. if you are interested I strongly encourage you to seek a tax advisor and get a legal opinion. I am not responsible for anything written below. I am not going to say much because I am so afraid of uncle Sam that I prefer to humbly pass the hot potato to pwc From here all it takes is a good advisor and some creativity to be tax free on your crypto wealth if you are a US person apparently. Please, please please don’t ask me more. And read the disclaimer again.
Trust tricks Generally speaking I do not accept fringe fiscal situation because it puts me in a difficult situation to the banks I work with, and it is already difficult enough to defend a legit crypto case. Trust might be a way to optimize your fiscal situation. Belize. Bahamas. Seychelles. Panama, You name it. At the end of the day, what matters for Swiss Banks are the beneficial owner and the settlor. Get a legal opinion, get it done, and when you eventually knock at a private bank’s door, don’t say it was for fiscal avoidance you stupid ! You will get the door smashed upon you. Be smarter. It will work. My advice is just to have it done by a great tax specialist lawyer, even if it costs you some money, as the entity itself needs to be structured in a professional way. Remember that with trust you are dispossessing yourself off your wealth. Not something to be taken lightly.
“Anonymous” cash out. Right. I think I am not going into this topic, neither expose the ways to get it done. Pm me for details. I already feel a bit uncomfortable with all the info I have provided. I am just going to mention many people fear that crypto exchange might become reporting entities soon, and rightly so. This might happen anyday. You have been warned. FYI, this only works for non-US and large cash out.
The difference between traders an investors. Danmark, Holland and Germany all make a huge difference if you are a passive investor or if you are a trader. ICO is considered investing for instance and is not taxed, while trading might be considered as income and charged aggressively. I would try my best to protect you and put a focus on your investor profile whenever possible, so you don't have to pay 52% tax if you do not have to :D
Full cash out or partial cash out? People who have been sitting on crypto for long have grown an emotional and irrational link with their coins. They come to me and say, look, I have 50m in crypto but I would like to cash out 500k only. So first let me tell you that as a wealth manager my advice to you is to take some off the table. Doing a partial cash out is absolutely fine. The market is bullish. We are witnessing a redistribution of wealth at a global scale. Bitcoin is the real #occupywallstreet, and every one will discuss crypto at Xmas eve which will make the market even more supportive beginning 2018, especially with all hedge funds entering the scene. If you want to stay exposed to bitcoin and altcoins, and believe these techs will change the world, it’s just natural you want to keep some coins. In the meantime, if you have lived off pizzas over the last years, and have the means to now buy yourself an nice house and have an account at a private bank, then f***ing do it mate ! Buy physical gold with this account, buy real estate, have some cash at hands. Even though US dollar is worthless to your eyes, it’s good and convenient to have some. Also remember your wife deserves it ! And if you have no wife yet and you are socially awkward like the rest of us, then maybe cashing out partially will help your situation ;)
What the Private Banks expect. Joke aside, it is important you understand something. If you come around in Zurich to open a bank account and partially cash out, just don’t expect Private Banks will make an exception for you if you are small. You can’t ask them to facilitate your cash out, buy a 1m apartment with the proceeds of the sale, and not leave anything on your current account. It won’t work. Sadly, under 5m you are considered small in private banking. The bank is ok to let you open an account, provided that your kyc and compliance file are validated, but they will also want you to become a client and leave some money there to invest. This might me despicable, but I am just explaining you their rules. If you want to cash out, you should sell enough to be comfortable and have some left. Also expect the account opening to last at least 3-4 week if everything goes well. You can't just open an account overnight.
The cash out logistics. Cashing out 1m USD a day in bitcoin or more is not so hard.
Let me just tell you this: Even if you get a Tier 4 account with Kraken and ask Alejandro there to raise your limit over $100k per day, Even if you have a bitfinex account and you are willing to expose your wealth there, Even if you have managed to pass all the crazy due diligence at Bitstamp,
The amount should be fractioned to avoid risking your full wealth on exchange and getting slaughtered on the price by trading big quantities. Cashing out involves significant risks at all time. There is a security risk of compromising your keys, a counterparty risk, a fat finger risk. Let it be done by professionals. It is worth every single penny.
Most importantly, there is a major difference between trading on an exchange and trading OTC. Even though it’s not publicly disclosed some exchange like Kraken do have OTC desks. Trading on an exchange for a large amount will weight on the prices. Bitcoin is a thin market. In my opinion over 30% of the coins are lost in translation forever. Selling $10m on an exchange in a day can weight on the prices more than you’d think. And if you trade on a exchange, everything is shown on record, and you might wipe out the prices because on exchanges like bitstamp or kraken ultimately your counterparties are retail investors and the market depth is not huge. It is a bit better on Bitfinex. It is way better to trade OTC. Accessing the institutional OTC market is not easy, and that is also the reason why you should ask a regulated financial intermediary if we are talking about huge amounts.
Last point, always chose EUR as opposed to USD. EU correspondent banks won’t generally block institutional amounts. However we had the cases of USD funds frozen or delayed by weeks.
Most well-known OTC desks are Cumberlandmining (ask for Lucas), Genesis (ask for Martin), Bitcoin Suisse AG (ask for Niklas), circletrade, B2C2, or Altcoinomy (ask for Olivier)
Very very large whales can also set up escrow accounts for massive block trades. This world, where blocks over 30k BTC are exchanged between 2 parties would deserve a reddit thread of its own. Crazyness all around.
Your options: DIY or going through a regulated financial intermediary.
Execution trading is a job in itself. You have to be patient, be careful not to wipe out the order book and place limit orders, monitor the market intraday for spikes or opportunities. At big levels, for a large cash out that may take weeks, these kind of details will save you hundred thousands of dollars. I understand crypto holders are suspicious and may prefer to do it by themselves, but there are regulated entities who now offer the services. Besides, being a crypto millionaire is not a guarantee you will get institutional daily withdrawal limits at exchange. You might, but it will take you another round of KYC with them, and surprisingly this round might be even more aggressive that the ones at Private banks since exchange have gone under intense scrutiny by regulators lately.
The fees for cashing out through a regulated financial intermediary to help you with your cash out should be around 1-2% flat on the nominal, not more. And for this price you should get the full package: execution/monitoring of the trades AND onboarding in a private bank. If you are asked more, you are being abused.
Of course, you also have the option to do it yourself. It is a way more tedious and risky process. Compliance with the exchange, compliance with the private bank, trading BTC/fiat, monitoring the transfers…You will save some money but it will take you some time and stress. Further, if you approach a private bank directly, it will trigger a series of red flag to the banks. As I said in my previous post, they call a direct approach a “walk-in”. They will be more suspicious than if you were introduced by someone and won’t hesitate to show you high fees and load your portfolio with in-house products that earn more money to the banks than to you. Remember also most banks still do not understand crypto so you will have a lot of explanations to provide and you will have to start form scratch with them!
The paradox of crypto millionaires Most of my clients who made their wealth through crypto all took massive amount of risks to end up where they are. However, most of them want their bank account to be managed with a low volatility fixed income capital preservation risk profile. This is a paradox I have a hard time to explain and I think it is mainly due to the fact that most are distrustful towards banks and financial markets in general. Many clients who have sold their crypto also have a cash-out blues in the first few months. This is a classic situation. The emotions involved in hodling for so long, the relief that everything has eventually gone well, the life-changing dynamics, the difficulties to find a new motivation in life…All these elements may trigger a post cash-out depression. It is another paradox of the crypto rich who has every card in his hand to be happy, but often feel a bit sad and lonely. Sometimes, even though it’s not my job, I had to do some psychological support. A lot of clients have also become my friends, because we have the same age and went through the same “ordeal”. First world problem I know… Remember, cashing out is not the end. It’s actually the beginning. Don’t look back, don’t regret. Cash out partially, because it does not make sense to cash out in full, regret it and want back in. relax.
The race to cash out crypto billionaire and the concept of late exiter. The Winklevoss brothers are obviously the first of a series. There will be crypto billionaires. Many of them. At a certain level you can have a whole family office working for you to manage your assets and take care of your needs . However, let me tell you it’s is not because you made it so big that you should think you are a genius and know everything better than anyone. You should hire professionals to help you. Managing assets require some education around the investment vehicles and risk management strategies. Sorry guys but with all the respect I have for wallstreebet, AMD and YOLO stock picking, some discipline is necessary. The investors who have made money through crypto are generally early adopters. However I have started to see another profile popping up. They are not early adopters. They are late exiters. It is another way but just as efficient. Last week I met the first crypto millionaire I know who first bough bitcoin over 1000$. 55k invested at the beginning of this year. Late adopter & late exiter is a route that can lead to the million.
Last remarks. I know banks, bankers, and FIAT currencies are so last century. I know some of you despise them and would like to have them burn to the ground. With compliance officers taking over the business, I would like to start the fire myself sometimes. I hope this extensive guide has helped some of you. I am around if you need more details. I love my job despite all my frustration towards the banking industry because it makes me meet interesting people on a daily basis. I am a crypto enthusiast myself, and I do think this tech is here to stay and will change the world. Banks will have to adapt big time. Things have started to change already; they understand the threat is real. I can feel the generational gap in Geneva, with all these old bankers who don’t get what’s going on. They glaze at the bitcoin chart on CNBC in disbelief and they start to get it. This bitcoin thing is not a joke. Deep inside, as an early adopter who also intends to be a late exiter, as a libertarian myself, it makes me smile with satisfaction.
Cheers. @swisspb on telegram
submitted by Swissprivatebanker to Bitcoin [link] [comments]

r/Bitcoin recap - March 2018

Hi Bitcoiners!
I’m back with the fifteenth monthly Bitcoin news recap.
For those unfamiliar, each day I pick out the most popularelevant/interesting stories in Bitcoin and save them. At the end of the month I release them in one batch, to give you a quick (but not necessarily the best) overview of what happened in bitcoin over the past month.
And a lot has happened. It's easy to forget with so much focus on the price. Take a moment and scroll through the list below. You'll find an incredibly eventful month.
You can see recaps of the previous months on Bitcoinsnippets.com
A recap of Bitcoin in March 2018
submitted by SamWouters to Bitcoin [link] [comments]

[QUESTION] Is there a map of places that accept Monero like coinmap.org?

Coinmap.org is for bitcoin only and understandably so, as it was created by the people behind Slush Pool and Trezor, so that had me wondering if there is a similar site that maps out places where Monero is accepted as payment.
I know coinatmradar.com supports Monero, but that only addresses where to buy Monero and not where to spend it.
It does not have to be a site dedicated to Monero only. It might even be better if one site allows to map out and filter all available cryptocurrencies just like coinatmradar.com does.
submitted by CryptoCommissar to Monero [link] [comments]

AsicBoost and the strange case of CVE-2017-9230

About CVEs

In the public interest of tracking and remedying cybersecurity vulnerabilities quickly, a public database was created in 2000: the CVE List [1].
CVE stands for Common Vulnerabilities and Exposures. Its database records, known as CVEs, track and record publicly known cybersecurity vulnerabilities. Each recorded vulnerability has a unique ID and lifecycle where it follows certain states.

The AsicBoost controversy

In April 2017, Greg Maxwell published an email [2] on the bitcoin-dev mailing list which described AsicBoost - a patented optimization to the algorithm used in Bitcoin mining - as an attack on the Bitcoin protocol.
There was much contention [3] about whether AsicBoost constituted some kind of harmful exploit, or whether it was merely a technological innovation which enabled more efficient mining hardware (ASICs).
There were allegations, widely reported in media, that the patent served the interest of Bitmain [4]. The purported benefits of exploiting this patent as alleged by Core developers were contemporaneously disputed by other miners [5].

CVE-2017-9230 raised against AsicBoost

On 18 May 2017, Cameron Garnham posted to the bitcoin-dev list [6], urging for getting a CVE assigned to the perceived vulnerability.
On 24 May 2017, this CVE was created as CVE-2017-9230 [7]. It was simultaneously published under Bugtraq ID 'BID 98657' at [8].
The justification in the CVE stated that the AsicBoost method
'violates the security assumptions of (1) the choice of input, outside of the dedicated nonce area, fed into the Proof-of-Work function should not change its difficulty to evaluate and (2) every Proof-of-Work function execution should be independent.'
It seemed a plausible enough reasoning for the CVE to be assigned. It was entered in the list of Bitcoin-related CVE's at [9]. Detailed information on this particular CVE is still missing/incomplete on the wiki page, a year after the CVE was raised.

What happened since the CVE was raised

If you've followed along, you've learned that the CVE was raised to counter the exploitation of the AsicBoost method by miners.
Since then, however, a Core developer, BtcDrak, has been involved in the founding of a mining company, Halong Mining. Several online sources state his (part?) ownership of this company.
BtcDrak has put forward a proposal [10] which would enable the use of AsicBoost within the Bitcoin Core software (the dominant client software on the BTC network).
This proposal appears to directly contradict the CVE claims of how AsicBoost violates "security assumptions" of Bitcoin, and indeed does not address how it mitigates them, nor is CVE-2017-9230 referenced in any of its related documentation.
While the proposal's specification [11] and implementation [12] have not yet been formally accepted, the situation is that Halong has shipped mining equipment which is now actively employing AsicBoost [13,14] on the Bitcoin (BTC) network. There is even a website showing the blocks where AsicBoost was used [15].

Conflict of interest

There a clear conflict of interest in the actions of the Core developer BtcDrak. His actions as a Core developer appear to be furthering his company's interests and competitive advantage in the mining industry by exploiting a vulnerability of which he must have been keenly aware, having participated on the same bitcoin-dev mailing list where it was discussed.
The CVE was vociferously used to paint Bitmain as culpable for delaying Segwit (Bitmain was accused of using AsicBoost and blocking Segwit activation for their own profit motive - claims that Bitmain has publicly denied strongly and which were never substantiated).
One might have expected a similar outcry against Halong's proven and announced use of AsicBoost, but the parties that had previously condemned Bitmain remained mostly silent. Only an anonymous non-developer, Cobra-Bitcoin, co-owner of the bitcoin.org domain, spoke out on the Github pull request in [11], and Core developer Luke-jr spoke out against the use of the proposal on the Bitcoin network while consensus had not been reached on it [16].
Subsequent discussion on the bitcoin-dev list on this topic since March has been minimal and only concerned with technicalities of stratum protocol changes.

The bigger elephant in the room

It seems logical that either AsicBoost constitutes an exploitable weakness, and thus merits a CVE and measures taken to prevent its use on the Bitcoin network entirely.
Or it is not a problem and the CVE should be invalidated.
The Bitcoin Core project should use its consensus processes to arrive at a coherent decision.

Other problems raised by the use of overt AsicBoost

The Halong implementation uses version rolling of the nversion bits of the header. It reserves a subset of those bits for overt AsicBoost.
These bits are no longer available to BIP9, but there was no update of BIP9 proposed to address this impact.
This is a question of sensible procedures being followed (or not). The author did not find any review comment mentioning the lack of BIP9 specification update, which suggest a lack of thorough review on a proposal which dates back several months.
A minor issue is that the Core implementation warns when a certain proportion of unrecognized version bits are detected. This behavior can be triggered by the AsicBoost method used on the network.
[1] https://cve.mitre.org/about/history.html
[2] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-April/013996.html
[3] https://news.bitcoin.com/developers-clash-exploit-secret-core-organization/
[4] https://archive.is/q2Q4t
[5] https://medium.com/@vcorem/the-real-savings-from-asicboost-to-bitmaintech-ff265c2d305b
[6] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-May/014349.html
[7] https://cve.mitre.org/cgi-bin/cvename.cgi?name=CVE-2017-9230
[8] https://www.securityfocus.com/bid/98657
[9] https://en.bitcoin.it/wiki/Common_Vulnerabilities_and_Exposures
[10] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2018-March/015801.html
[11] https://github.com/bitcoin/bips/pull/661
[12] https://github.com/bitcoin/bitcoin/pull/12633
[13] https://bitcoinmagazine.com/articles/halong-mining-first-bitcoin-mining-hardware-producer-implement-overt-asicboost/
[14] https://bitcoinmagazine.com/articles/slush-pool-now-compatible-asicboost-miners/
[15] https://asicboost.dance
[16] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2018-March/015802.html
EDITS:
  1. make dates unambiguous, make it clear that [5] disputes the benefits alleged by Core developers
submitted by btcfork to btc [link] [comments]

Lost transaction after Backup Recovery

I made a backup of my wallet (Default client) when I first got it with no transactions on it. I transferred some bitcoins to it but had to reformat. So I recovered my wallet but it has gone back to 0. Have I lost these coins because the backup was before the transfer? I have checked the address of the transaction and of my wallet and they match. There is a tick in the corner of the client and it says its up to date.
Anyhelp would be greatly appreciated.
submitted by eBurner to BitcoinBeginners [link] [comments]

Some of my alternative results

I’ll go where the better returns are. I’ve mined big pools, small pools, Vertcoin one click, WinMiner, Cuba, ccminer, cpuminer, guiminer, ethminer and most of them suck. Either the set up is trash and there’s no info on what is needed for it to run, or the UI is atrocious.
NiceHash was simple- point and shoot. On top of that, it yielded good returns. WinMiner so far is the closest thing. CPU pointed at SUMO and GPUs pointed at VTC, it’s pulling roughly $5 a day. I also like that I can cash out in BTC, PayPal, or Vertcoin.
Slush pool yielded like, 0.01 after 24 hours Noobpool yielded 0.00 Give-me-coins VTC yielded 0.02 after like, 30 hours. Vertcoin one click might be okay if your pool doesn’t suck, but almost all the pools I found, did in fact suck.
Oh, I also briefly mined LBRY and got some very high hash rates and the currency started stacking up, but the currency is very very cheap, so the number of coins you get skyrockets, but it still equates to < $1
So, as of now, WinMiner is the only option that doesn’t suck.
GPU: GeForce 1070 ti CPU: I7 8700K 3.70ghz
Update: I gave AwesomeMiner a shot. I created the miner so it was automated and all I had to provide was my bitcoin address - then run it. It’s currently mining Nist5 from zpool and estimating $8/day
Some issues I’m currently working on with AwesomeMiner: It’s running my GPU fine, but configuring the CPU takes a little more time. I also have a MSI GT70 laptop with a Nvidia 870m that isn’t able to run the ccminer2.2.2 because it uses Cuda9, so trying to find a work around for that.
submitted by UncleTouchy1337 to NiceHash [link] [comments]

GHash.IO & double spending

Some of this data is from bitcointalk, I'll attribute the authors as I go

TL;DR:

Put on your thinking cap:

https://en.bitcoin.it/wiki/Getblocktemplate

"getblocktemplate moves block creation to the miner, while giving pools a way to set down the rules for participation. While pools can do just as much as they could before by expressing it in these rules, miners can not be kept in the dark and are enabled to freely choose what they participate in mining. This improves the security of the Bitcoin network by making blocks decentralized again."
A risk that is difficult to assess is whether the large mining pools validate coinbase tx content included by miners in their pool.
(To test, you "just" need to be the member of a pool who successfully solves a block; and also write a custom miner to include a specific coinbase tx that the pool did not ask you to provide. (Credit to bee7 here for this idea).
It's possible that the GHash.IO operators control (or are colluding with) a significant portion of the mining capacity of Elgius and Slush (I picked those two pools because of their abysmal orphan (luck) rate); This hypothesis is supported by the data in this post.
There are, of course, other very reasonable explanations for the "luck variance" observation:
...but there is also additional circumstantial evidence that GHash.IO have bad actors:

Credit to mmitech for this next bit of research:

In September I witnessed a lot of double-spending against BetCoin Dice. It happened between 25th and 27th Sept.
The mechanism was simple: send betcoin a tx with 0 fee, then wait for a result tx, if your bet is a win, then confirm your tx, otherwise double-spend it.
  1. Here I'll give you a bunch of transactions which you can examine. Note this is a chain of transactions, so just click on outputs to see. https://blockchain.info/tx/4d731074447f02609c3110a187f9c6976f2bf255288ec5666ee270f09679619d https://blockchain.info/tx/e0b44f68441ea0bad0f7694f735f496ce05238862534c6fea737b8903921185a The double-spending of losing bets was performed by someone mining to https://blockchain.info/address/1MA7CKbWMyKdPkmsbnwmfeLh1hYy5A3gy8 , you can check it yourself.
  2. I tracked coins down to the origin https://blockchain.info/tx/154ecb1eb72c933bc0707fa70deceb688361554ab81b901673d308aa84d9cfe9 The most interesting address here is 12PcHjajFJmDqz28yv4PEvBF4aJiFMuTFD It's been involved in similar actions, look at this chain of win-only tx's https://blockchain.info/tx/0c1a08d035862b01d075e8044b1e9ce52a8ad951b57d876a2a9a0e3502c41eb0 And the most interesting fact is that these zero-fee tx's inbetween winning ones were mined by ghash.io exclusively. Possibly this was a test attack.
  3. Going further, I found the address the earnings from attack were sent to: 12e8322A9YqPbGBzFU6zXqn7KuBEHrpAAv https://blockchain.info/tx/292e7354fbca1847f0cbdc87a7d62bc37e58e8b6fa773ef4846b959f28c42910 And then part of these funds (125 BTC) was sent to ghash.io's mining address: https://blockchain.info/tx/48168cf655d0ac0c7c2733288ca72e69ecd515a9a0ab2821087eb33deb7c6962
  4. Furthermore, I checked the funds mined to 1MA7CKbWMyKdPkmsbnwmfeLh1hYy5A3gy8 In these 2 succeeding tx's they were moved to 199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn https://blockchain.info/tx/e567ad6232de5285e0dc211d3f1c489b1e00e509118ba98a4825529d0a9197d9 https://blockchain.info/tx/faa7bc8b99376efa774045e79b42771fe668341b00290a61cd416992571c590d
This address is interesting, because it contains 6000 BTC and ~30% of funds come from ghash.io mining address. https://blockchain.info/taint/199kVcHrLdouz9k9iW3jh1kpL7j9nLg7pn
  1. And the last thing to spot: GHash.io, being about 25% of network back then, didn't find a single block to its address between 25th and 27th of september! https://blockchain.info/address/1CjPR7Z5ZSyWk6WtXvSFgkptmpoi4UM9BC?offset=1350&filter=2
Ok smarties: Any other thoughts/theories/criticisms to these hypotheses? Post below if you're considering changing pools now.
2014-Jun-03 11:18PM PDT edit: Fixed formatting issues
2014-Jun-03 11:25PM PDT edit: Clarified negative effect in TL;DR
2014-Jun-04 01:40PM PDT edit: Clarified point about pool hopping
submitted by bullshbit to Bitcoin [link] [comments]

A collection of evidence regarding Bitcoin's takeover and problems.

REPOSTED THIS FOR MORE VISIBILITY & FEW EDITS
On November 22 I posted this https://np.reddit.com/btc/comments/7eszwk/links_related_to_blockstreams_takeover_of_bitcoin
On December this https://np.reddit.com/btc/comments/7mg4tm/updated_dec_2017_a_collection_of_evidence/
On January this https://np.reddit.com/btc/comments/7qfw2b/a_collection_of_evidence_regarding_bitcoins/
This is March update
I will be removing duplicates and off-topic content. #34 and #74 has been changed. Please give me feed back, and also recommend a new title if you guys have any idea :)
The Bitcoin Whitepaper
PDF
1 The history between btc and bitcoin
Archive link
yours.org link
2 A brief and incomplete history of censorship in /Bitcoin
Archive link
3 User posts on bitcoin about 6900 BTC that theymos stole, post gets removed.
Archive link
4 Go to /noncensored_bitcoin to see posts that have been censored in /bitcoin
5 Theymos caught red-handed - why he censors all the forums he controls, including /bitcoin
Archive link
6 User gets banned from /bitcoin for saying "A $5 fee to send $100 is absolutely ridiculous"
Archive link
7 Greg Maxwell caught using sockpuppets
Archive link
8 [Wikipedia Admins: "[Gregory Maxwell of Blockstream Core] is a very dangerous individual" "has for some time been behaving very oddly and aggressively"](https:// np.reddit.com/btc/comments/74se80/wikipedia_admins_gregory_maxwell_of_blockstream/)
Archive link
9 Remember how lightening network was promised to be ready by summer 2016? https://coinjournal.net/lightning-network-should-be-ready-this-summe
Archive link
10 rBitcoin moderator confesses and comes clean that Blockstream is only trying to make a profit by exploiting Bitcoin and pushing users off chain onto sidechains
Archive link
11 "Blockstream plans to sell side chains to enterprises, charging a fixed monthly fee, taking transaction fees and even selling hardware" source- Adam Back Blockstream CEO
Archive link
Twitter proof
Twitter Archive link
12 September 2017 stats post of bitcoin censorship
Archive link
13 Evidence that the mods of /Bitcoin may have been involved with the hacking and vote manipulation "attack" on /Bitcoin.
Archive link
14 bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do"
Archive link
15 In January 2017, someone paid 0.23 cents for 1 transaction. As of December 2017, fees have peaked $40.
16 Told to kill yourself by Bitcoin for cashing out
17 Bitcoin is a captured system
18 Bot attack against bitcoin was allegedly perpetrated by its own moderator and Blockstream’s Greg Maxwell
19 Remember: Bitcoin Cash is solving a problem Core has failed to solve for 6 years. It is urgently needed as a technical solution, and has nothing to do with "Roger" or "Jihan".
20 Bitcoin Cash has got nothing new.
21 How the Bilderberg Group, the Federal Reserve central bank, and MasterCard took over Bitcoin BTC
More evidence
22 Even Core developers used to support 8-100MB blocks before they work for the Bankers
Proof
23 /Bitcoin loves to call Bitcoin Cash "ChinaCoin", but do they realize that over 70% of BTC hashrate comes from China?
24 /bitcoin for years: No altcoin discussion, have a ban! /bitcoin now: use Litecoin if you actually need to transact!
25 First, they said they want BCH on coinbase so they could dump it. Now they are crying about it because it's pumping.
26 Luke-Jr thinks reducing the blocksize will reduce the fees..
27 Core: Bitcoin isn't for the poor. Bitcoin Cash: we'll take them. Our fees are less than a cent. Core: BCash must die!
28 How The Banks Bought Bitcoin. The Lightning Network
29 Big Blocks Can Scale, But Will It Centralize Bitcoin?
30 "Fees will drop when everyone uses Lightning Networks" is the new "Fees will drop when SegWit is activated"
31 Adam Back let it slip he hires full-time teams of social media shills/trolls
32 The bitcoin civil war is not about block size; it's about freedom vs. authoritarianism
33 Why BCH is the real Bitcoin
34 Segwit does not block ASICBoost. SlushPool supports it.
35 We don't need larger blocks, since lightning will come someday™, the same way we don't need cars or planes since teleporters will come someday™
36 Facts about Adam Back (Bitcoin/Blockstream CEO) you heard it right, he himself thinks he is in charge of Bitcoin.
37 A explaination why Core's vision is different from the real Bitcoin vision
38 The dangerously shifted incentives of SegWit
39 Lighting Network was supposed to be released in 2016
40 You can now store a year's worth of continuously full 8MB blocks for the cost of a single BTC transaction
41 They say we are trying to Kill Bitcoin. No, we are not. We are trying to save it, and make it usable for everyone, and everything. Not tomorrow. Not 6 months from now, Not 18 Months from now. NOW. That's what's going on Here.
42 Miners that want to pull out daily have to switch to BCH due to the fees
43 At $25 #BTC tx fees, if miners want to withdraw their revenue daily, they require a minimum of $140,000 worth of mining hardware to reduce the tx fee to less than 1% of their outgoings. At a $100 tx fee it requires min $560,000. Which is the centralising coin again?
44 Core developer : Bitcoin fees too high? You have invested in early tech! Have faith. Give us time.
45 A redditor even predicted the /bitcoin front page
46 Elizabeth Stark of Lightning Labs admits that a hostile actor can steal funds in LN unless you broadcast a transaction on-chain with a cryptographic proof that recovers the funds. This means LN won't work without a block size limit increase. @8min17s
47 /bitcoin is in uproar about Coinbase not implementing Segwit -> mempool mooning is single handedly Coinbase' fault. So all it takes to bring bitcoin to its knees is a single corporate entity not implementing segwit? Me thinks its not Coinbase there's something wrong with.
48 /bitcoin for years: No altcoin discussion, have a ban! /bitcoin now: use Litecoin if you actually need to transact!
49 $BCH has been attacked in every way possible since it's creation. Exchanges listing it with deceiving names and abbreviations; being dumped by bitcoin holders for over 6 months; and it still managed to close every month positively, while adding numerous new wallet/exchange pairs
50 theymos claims that the whitepaper is a historical artifact not worthy of being on the sidebar of bitcoin
51 Even a Bitcoin conference can't use Bitcoin because of it's high fees
52 185% Growth in Active Addresses for BCH in 1 month, 125% for ETH, -5% for BTC
53 Shapeshift: "Sub-$100 fees unadvisable on BTC." Core supporters: "Implement Segwit already!" Shapeshift: "We did. We're the biggest user of Segwit."
54 How btc and Bitcoin see each other
55 Man who vandalized Bitmain's office hired by Blockstream
56 Bitcoin Cash vs Bitcoin Core compared. Just the facts
57 It was obvious from the very beginning that #Bitcoin transactions were meant to be as cheap as possible. Bitcoin Core has destroyed Bitcoin's usefulness as money by creating a system where $30 fees are celebrated. - @Bitcoin
58 User explains why Core's vision is not the real Bitcoin vision
59 Fake Tweet from the president bashes BCH on /bitcoin front page. Calling it exactly what it is will get you banned.
60 A public appeal to Michael Marquardt the original Theymos.
61 Now they are angry at the CEO of Coinbase for supporting BCH. It's like you are not allowed to have your own opinion without getting attacked.
62 bitcoin user says Bitcoin should not be used as a cryptocurrency
63 The five stages of grief, transaction fees
64 A brief history of the attempted takeover of Bitcoin by BlockstreamCore/The legacy banking systems/The Powers That Be
65 Warning! Theymos admitted he 'misled millions of people' yet he wanna 'leave the text as it is' to mislead more people!
66 "Wait. What? My private keys need to be on an internet-connected computer in order to use Lightning Network?"
67 a year ago Adam Back accused u/Jacktenz of exaggerated claims about fees. The truth is the claims were understated!
68 Roger Ver was not selling explosives, he was selling firecrackers.
69 Core devs pop champaigne, and openly celebrate high fees. Now core supporters blame coinbase for high fees?
70 Now that we've had a few 8MB blocks, let's dispel this centralisation myth once and for all.
71 Reddit admin sodypop on censorship in /Bitcoin: "We generally allow moderators to run their communities how they like as long as they are within our site-wide rules and moderator guidelines." Blatant censorship, hacking, vote manipulation, and brigading are "within [Reddit's] site-wide rules".
72 Another obvious sockpuppet account being used to push Blockstream's agenda.
73 Totally organic grassroots support for the #NO2X "movement." Definitely not a purchased sockpuppet account, you guys.
74 Why Bitcoin Cash
75 If it’s inaccessible to the poor it’s neither radical nor revolutionary.
76 BSCoretabs shills are vandalizing Wikipedia to smear Roger Ver with false quoting, missparaphrasing and accusations.
77 Introducing dipshit extraordinaire Warren Togami, the link between Theymos and BlockStream
78 Debunking: "Blockstream is 3 or 4 developers out of hundreds of developers at Core" - Tone Vays
79 This blockchain debate is purely political and is not about scaling but about control. X-Post from /bitcoin
80 A profile to look at for more evidence
81 What exactly is Blockstream Core's excuse for causing a year of stagnation in Bitcoin with no end in sight?
82 We have a way to build bank-like services.
83 "There is a reason why things are done in a certain way in the financial system, and Bitcoin will be doing something similar"
84 Some thoughts about the possible Bitcoin Segwit, Bilderberg/AXA/BockStream/Core, In-Q-Tel, CIA connection.
85 Theymos on Bitcoin XT
86 (If this is not allowed mods, please remove this text) I cannot verify this yet, but a source has given me information about theymos. theymos is known as Michael Marquardt, from Wisconsin and is a graduate from the University of Wisconsin as a computer-science student.
87 A video that Blockstream does not want you to see
88 A story of how someone was brainwashed
89 Bitcoin Cash is not a scamcoin
90 What /btc is up against
91 OpenBazaar dev explains why they won't implement Lightning Network
92 An extended history of Bitcoin Cash
93 Should I trust Bitcoin Cash ? Roger Ver seems shady
94 /btc gets brigaded and blackmailed
95 Bitcoin Core talking points translated honestly
96 Possible attacks on Bitcoin. One of them did happen
97 How many people are aware that Bitcoin Cash is a manipulation made by Roger Ver, CNBC and Coinbase?
98 Why Rick Falkvinge chose Bitcoin Cash
More from Rick
99 Can Bitcoin Cash scale on-chain?
100 Are bigger blocks better for bigger miners?
101 Jonald Fyookball corrects the misinformation
102 A developer, Luke-Jr, in the Core team is crazy
Thanks to singularity87, 103 to 106. There are more in his link
103 Using the HK agreement to stall miners from adopting bitcoin classic
104 Luke-Jr would be fine with having Jihan Wu executed
105 Theymos threatens to write to the SEC
106 Matt Corallo writes to the SEC to make Core’s BTC the “official” btc.
107 Re: BCH as an altcoin
108 The difference between BTC and BCH
109 Someone asks why Bitcoin Core refuses to increase the blocksize
110 Bitcoin back then : 1, 2, 3, 4
111 More resources
submitted by thepaip to btc [link] [comments]

Summary of BTCC / Bobby Lee AMA on Segwit2x on /r/BitcoinMarkets

I figured this needs to be saved and remembered after 2x (hopefully) fails. I was honestly shocked to see Bobby as such a hardline 2x'er, given how friendly his brother (Charlie Lee) is towards BTC and this community. Zero doubt, zero attempt to be neutral or even acknowledge that there are any significant groups that disagree with you. He's living in an alternate reality where B2X obviously is Bitcoin. I'm so happy that I've never given any money to BTCC.
Here are some selected quotes from the AMA (emphasis mine, for the most outrageous quotes). Full AMA here https://np.reddit.com/BitcoinMarkets/comments/79tpol/ama_bobby_lee_ama_on_csts_china_segwit2x_etc_on/.
flibbrMarketplace:
Why are you continuing to signal for Segwit2X when it was originally concieved to appease jihan/roger blocking segwit activation, both of whom are now shilling bcrash as the real bitcoin & on top of this Segwit2x has no developer support, is already way behind bitcoin core & the only active main dev is Garzik who is doing his own altcoin ico, plus no user community support.
(… a couple more paragraphs)

btcc_official:
Thank you for your feedback.

AlphaRho49165:
there are several parties involved in bitcoin (code developers, miners, exchanges/companies).
(1) do you think the power between those parties is fairly distributed?
(2) do you think any of parties has too much power and should be reduced in power?

btcc_official:
One of the reasons I like bitcoin is precisely because of this balance of powers: no one group has absolute power.
There’s also one more group: end-users.
There is no exact measurement on what percentage of powers each group has; it’s not a mathematical certainty.
The upcoming bitcoin upgrade (NYA, Segwit2x) is a good test to see if the bitcoin community can move forward when only a subset of all the groups decide to move on to an upgrade of bitcoin.
It’s unfortunate that this upgrade is not fully supported by all groups.

bubbasparse:
What is your plan is the NYA fork is less valuable than bitcoin?

btcc_official:
If the bitcoins on the upgraded bitcoin blockchain (SegWit2x) become less valuable than altcoins, then that’s the market deciding that bitcoin is no longer number one, and an altcoin has taken over the top spot.
I don’t expect that to happen, and I hope that that does not happen. On the other hand, if it happens, then I will accept that result.
However, I will not just rename the most expensive altcoin to “bitcoin” just because it has the highest market value.

xxDan_Evansxx:
Would you like to see replay protection added to the NYA fork chain?

btcc_official:
Replay protection is not needed for change-of-consensus upgrades to the bitcoin network. That’s been the consistent practice over the past nine years.
The upcoming mid-November hard fork is a planned upgrade of the bitcoin network, with strong support from miners and users.
If a minority chain hard-forks with different consensus rules, then replay protection would be advised.
This happened with Bitcoin Cash in August, and it may happen again if Bitcoin Core decides to hard fork the Bitcoin Core Legacy (BCL) chain to a new POW algorithm.

xxDan_Evansxx:
Will you mine both chains if there is market demand making it profitable? Or only the so-called upgraded version of Bitcoin? I'm asking a very straightforward question. Please just give whatever information you can. Thanks!

btcc_official:
Yes, we will support more than one chain if there’s enough user demand and if doing so makes economic sense.
BTCC supports altcoin mining; earlier this year, we started mining litecoins, and we will start mining bitcoin cash soon.
In the future, if the Bitcoin Core Legacy (BCL) chain survives, we will consider providing BTCC Pool support for that based on market demand.

jonny1000:
Will you honour this clear commitment you gave to your customers:
Consequently, we insist that the Bitcoin Unlimited community (or any other consensus breaking implementation) build in strong two-way replay protection.
Source: https://www.btcc.com/news/en/announcements/2017/03/18/hard-fork-statement/

btcc_official:
Yes, I stand by that. At the time, Bitcoin Unlimited was expected to have a minority of hashing power, so we considered its different implementation of bitcoin as a “fork” off the main bitcoin blockchain. I advised them to build in strong two-way replay protection.
This time, in mid-November, bitcoin is expected to upgrade its consensus rules, just as it has done so many times over the past nine years. The upcoming Segwit2x feature is an upgrade to Bitcoin, and yes, there is a change in consensus rules this time. Per bitcoin rules, bitcoin will continue to be the chain that has the most accumulated hashing power and produces the longest valid blockchain.

xxDan_Evansxx:
Will you mine both BTC and S2X? Do you think miners signaling NYA can mine both and keep their word?

btcc_official:
We will mine BTC, and once bitcoin is upgraded in November, we will continue to mine that.

chek2fire:
why you continue to support segwit2x when is clear that is DOA(dead on arrival) and has no future?

btcc_official:
Thank you for sharing your opinion about SegWit2x. I hope you’re wrong, of course :-); time will tell.

bubbasparse:
Do you think that a change (such as 2x) that does not have user and developer support being activated on the network degrades the incorruptibility of bitcoin? If not, then do you think users and developers should have any say in what changed are to be made?

btcc_official:
The SegWit2x upgrade to bitcoin in mid-November does have user and developer support; maybe you just don't like those users and developers :-). Users and developers will always have a say about what changes are made to bitcoin; that’s why I like bitcoin.
However, no one in this world has absolute power to force everyone else in the world to do something. That’s my philosophy about life and about bitcoin.

triple_red_shells:
Hi Bobby, thanks for taking the time to do this AMA. Arguably the subject that preoccupied us the most is the upcoming hard fork.
TL;DR: here are my questions, I've repeated them at the end of my post.
Do you still intend to stick by the New York Agreement and proceed with the fork? Will you mine it even if it is much less profitable than the original chain? If yes, for how long? What will you do is some miners leave your pool to mine with a pool that supports the original chain, like F2Pool or Slush Pool? Or will you do as ViaBTC said it will do, i.e. technically support both chains and let miners mine on the chain they chose?
So far, we have several indications of the community's level of support for the fork: (… several more paragraphs …)

btcc_official:
Yes, we are committed to the NYA, and will proceed with the bitcoin network upgrade in mid-November. Thank you for your feedback and sharing your opinion.

BTCFuturesGuide:
SegWit2x chain split token is trading at 0.15 BTC. A majority of nodes on the network are running Core 0.15+ which blocks 2X. Bitcoin Cash represents a violation of NYA that gives big blockers what they wanted.
Given these facts, what on earth is motivating you to continue forward with this attack on Bitcoin?
Please, do your part to stop B2X so bitcoin can thrive. There is no honour in keeping your word just for the sake of keeping your word. Do what is right, Bobby.

btcc_official:
Thank you for your feedback; your opinion is noted. In my mind, bitcoin is resistant to attacks. If your version of bitcoin is easily attacked, then I suggest for you to look into other choices.

JenkinLee:
Seems like you don't want to answer questions about Segwit2X. I am wondering what your motives are for causing all this uncertainty by continuing to support a coin with only one developer who is now trying to market a scam ALT coin.

btcc_official:
I have answered questions about Segwit2x; I don’t believe I’m stonewalling or avoiding questions here. Please read my other responses about why I support NYA and the Segwit2x upgrade to bitcoin.
To me, it’s clear that the Segwit2x upgrade planned for mid-November is going to happen because a majority of bitcoin’s hashing power has committed to it.
The sense of uncertainty you have may stem from uncertainty about whether the legacy non-upgraded bitcoin blockchain will have sufficient hashpower to survive, and whether it will need an emergency hard fork to change its POW in order to survive long term. To me, that’s the question that needs to be clarified.
There are many developers supporting the SegWit2x upgrade, certainly more than just one person.

modelessBearish:
Do you personally think either 2x or Core will win, or will they both survive?

btcc_official:
I believe that bitcoin will get upgraded in November, in accordance with the SegWit2x proposal. If the hashing power continues to support a legacy chain in a feasible manner, then the legacy chain would survive. “Winning” is a matter of perspective. It’s not necessary to judge what other people like or dislike.

nyeko_92:
Whats your outlook on the B2x vs Bitcoin Core debacle? What position has your company taken in terms of having segwit + 2MB HF(Segwit2x) or just Segwit(and elaborate on your reasoning for the side that your company is taking)?
What is your outlook on Litecoin, Vertcoin, Bitcoin Cash and Dogecoin?
Will your exchange BTCC open again when China decides to regulate all exchanges?
Any Job positions open for devs? :)
Thank you for taking your time to do this AMA Bobby!

btcc_official:
Let me call it the “Bitcoin” vs “Bitcoin Core” difference of opinion. Would that work for you? :-)
I like bitcoin because it is decentralized, censorship-resistant, and continues to evolve and improve over time. I am a supporter of NYA because I think bitcoin should continue to scale on-chain and through second-layer solutions.
If China changes its regulatory stance on bitcoin exchanges, we will certainly reconsider our business direction, and re-examine how best to address the China market.
For now, we will focus on our non-China businesses, including our popular BTC, LTC, ETH, and BCC wallet app Mobi (https://www.mobi.me). You can find out about our other international businesses by visiting: https://www.btcc.com.
And yes, we are hiring devs, especially really strong and talented ones! Please apply by sending us your resume at [email protected].

MountTree:
What are your thoughts on Bitcoin Cash with its upcoming hard fork?

btcc_official:
I like the proposal to change the difficulty adjustment algorithm for Bitcoin Cash. I’m supportive of it and hope the upgrade/hard fork succeeds.
submitted by psionides to Bitcoin [link] [comments]

It has taken me a long time, but I finally committed ALL of my resources to BIP 101 - bitcoin xt

I run two full nodes and a small miner. I switched on full node to xt when all of this started, but now I'm fed up. I switched my miner back to slush's pool today and I updated my other node to bitcoinxt. Sometimes it just feels refreshing to do the right thing.
If you want to move your miners to slush's pool and show your support for 8mb blocks (aka: bitcoinxt, BIP 101), set up an account at http://mining.bitcoin.cz and use these mining addresses:
stratum+tcp://stratum.bitcoin.cz:3301 - General
stratum+tcp://us-east.stratum.bitcoin.cz:3301 - USA
stratum+tcp://eu.stratum.bitcoin.cz:3301 - Europe
Slush is re-enabling BIPB101: https://bitcoinmagazine.com/articles/slush-pool-to-re-enable-bip-bitcoin-mining-1448902761
If you want to set up bitcoixt, it's pretty easy to just remove bitcoind and run the binary linked here: https://bitcoinxt.software/
You can find more information about bitcoinxt blocks here: http://xtnodes.com/
submitted by secret_bitcoin_login to btc [link] [comments]

Here is how to create SegWit BIP49 wallets and addresses in Electrum.

Posted this earlier as a comment in /bitcoin -- hopefully this can help some of you here as well.
So, with the way Electrum sets up SegWit wallets, most mining pools and exchanges don't yet recognize the addresses. This is because Electrum uses "full-SegWit" bech32 implementation.
In order to work around this, you can create the more "backwards-compatible friendly" BIP49 implementation of a SegWit wallet via Ian Coleman's website then import into Electrum.
The downside to the BIP49 implementation is that your SegWit transactions are 10% larger than bech32 SegWit. The upside is that Slush Pool and loads of other sites will send those sweet BTC payouts to a BIP49 address.
Here's a step-by-step.
Note: Please take all available security precautions when generating your seed--VPN, https, firewalls, etc.
  1. Go to this site
  2. Click "BIP49 derivation path" and generate. Those fifteen words are your wallet seed.
  3. In Electrum, FileNew/RestoreStandard wallet and click "Next"
  4. Select "I already have a seed" and click "Next"
  5. Click "Options" box and check "BIP39" Seed then click OK
  6. input fifteen words from Ian Coleman's site and click "Next"
  7. On the "Derivation" screen, replace m/44'/0'/0' with m/49'/0'/0' and click "Next"
  8. If you want wallet key encryption (STRONGLY RECOMMENDED) enter a strong password and store it somewhere safe, then click "Next"
  9. Look at your wallet's addresses: they should all begin with "3" (if they don't, start over with a new seed).
  10. Enjoy your new SegWit backwards-compatible P2SH-P2PKH wallet.
Donations: 3LQ2QWQHcYaCAfNXBuoXygmsKAGGJEa7rW
EDIT: If you have a Trezor or Nano S with Segwit, you can basically follow this guide without any Seed Generation and replace "I already have a seed" in step 4 with "Use a hardware device."
submitted by bantership to Electrum [link] [comments]

AsicBoost and the strange case of CVE-2017-9230

About CVEs

In the public interest of tracking and remedying cybersecurity vulnerabilities quickly, a public database was created in 2000: the CVE List [1].
CVE stands for Common Vulnerabilities and Exposures. Its database records, known as CVEs, track and record publicly known cybersecurity vulnerabilities. Each recorded vulnerability has a unique ID and lifecycle where it follows certain states.

The AsicBoost controversy

In April 2017, Greg Maxwell published an email [2] on the bitcoin-dev mailing list which described AsicBoost - a patented optimization to the algorithm used in Bitcoin mining - as an attack on the Bitcoin protocol.
There was much contention [3] about whether AsicBoost constituted some kind of harmful exploit, or whether it was merely a technological innovation which enabled more efficient mining hardware (ASICs).
There were allegations, widely reported in media, that the patent served the interest of Bitmain [4]. The purported benefits of exploiting this patent as alleged by Core developers were contemporaneously disputed by other miners [5].

CVE-2017-9230 raised against AsicBoost

On 18 May 2017, Cameron Garnham posted to the bitcoin-dev list [6], urging for getting a CVE assigned to the perceived vulnerability.
On 24 May 2017, this CVE was created as CVE-2017-9230 [7]. It was simultaneously published under Bugtraq ID 'BID 98657' at [8].
The justification in the CVE stated that the AsicBoost method
'violates the security assumptions of (1) the choice of input, outside of the dedicated nonce area, fed into the Proof-of-Work function should not change its difficulty to evaluate and (2) every Proof-of-Work function execution should be independent.'
It seemed a plausible enough reasoning for the CVE to be assigned. It was entered in the list of Bitcoin-related CVE's at [9]. Detailed information on this particular CVE is still missing/incomplete on the wiki page, a year after the CVE was raised.

What happened since the CVE was raised

If you've followed along, you've learned that the CVE was raised to counter the exploitation of the AsicBoost method by miners.
Since then, however, a Core developer, BtcDrak, has been involved in the founding of a mining company, Halong Mining. Several online sources state his (part?) ownership of this company.
BtcDrak has put forward a proposal [10] which would enable the use of AsicBoost within the Bitcoin Core software (the dominant client software on the BTC network).
This proposal appears to directly contradict the CVE claims of how AsicBoost violates "security assumptions" of Bitcoin, and indeed does not address how it mitigates them, nor is CVE-2017-9230 referenced in any of its related documentation.
While the proposal's specification [11] and implementation [12] have not yet been formally accepted, the situation is that Halong has shipped mining equipment which is now actively employing AsicBoost [13,14] on the Bitcoin (BTC) network. There is even a website showing the blocks where AsicBoost was used [15].

Conflict of interest

There a clear conflict of interest in the actions of the Core developer BtcDrak. His actions as a Core developer appear to be furthering his company's interests and competitive advantage in the mining industry by exploiting a vulnerability of which he must have been keenly aware, having participated on the same bitcoin-dev mailing list where it was discussed.
The CVE was vociferously used to paint Bitmain as culpable for delaying Segwit (Bitmain was accused of using AsicBoost and blocking Segwit activation for their own profit motive - claims that Bitmain has publicly denied strongly and which were never substantiated).
One might have expected a similar outcry against Halong's proven and announced use of AsicBoost, but the parties that had previously condemned Bitmain remained mostly silent. Only an anonymous non-developer, Cobra-Bitcoin, co-owner of the bitcoin.org domain, spoke out on the Github pull request in [11], and Core developer Luke-jr spoke out against the use of the proposal on the Bitcoin network while consensus had not been reached on it [16].
Subsequent discussion on the bitcoin-dev list on this topic since March has been minimal and only concerned with technicalities of stratum protocol changes.

The bigger elephant in the room

It seems logical that either AsicBoost constitutes an exploitable weakness, and thus merits a CVE and measures taken to prevent its use on the Bitcoin network entirely.
Or it is not a problem and the CVE should be invalidated.
The Bitcoin Core project should use its consensus processes to arrive at a coherent decision.

Other problems raised by the use of overt AsicBoost

The Halong implementation uses version rolling of the nversion bits of the header. It reserves a subset of those bits for overt AsicBoost.
These bits are no longer available to BIP9, but there was no update of BIP9 proposed to address this impact.
This is a question of sensible procedures being followed (or not). The author did not find any review comment mentioning the lack of BIP9 specification update, which suggest a lack of thorough review on a proposal which dates back several months.
A minor issue is that the Core implementation warns when a certain proportion of unrecognized version bits are detected. This behavior can be triggered by the AsicBoost method used on the network.
[1] https://cve.mitre.org/about/history.html
[2] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-April/013996.html
[3] https://news.bitcoin.com/developers-clash-exploit-secret-core-organization/
[4] https://archive.is/q2Q4t
[5] https://medium.com/@vcorem/the-real-savings-from-asicboost-to-bitmaintech-ff265c2d305b
[6] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2017-May/014349.html
[7] https://cve.mitre.org/cgi-bin/cvename.cgi?name=CVE-2017-9230
[8] https://www.securityfocus.com/bid/98657
[9] https://en.bitcoin.it/wiki/Common_Vulnerabilities_and_Exposures
[10] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2018-March/015801.html
[11] https://github.com/bitcoin/bips/pull/661
[12] https://github.com/bitcoin/bitcoin/pull/12633
[13] https://bitcoinmagazine.com/articles/halong-mining-first-bitcoin-mining-hardware-producer-implement-overt-asicboost/
[14] https://bitcoinmagazine.com/articles/slush-pool-now-compatible-asicboost-miners/
[15] https://asicboost.dance
[16] https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2018-March/015802.html
EDITS:
  1. make dates unambiguous, make it clear that [5] disputes the benefits alleged by Core developers
submitted by zcc0nonA to CryptoCurrency [link] [comments]

Let them hear your voice for BIP101! NiceHash -> Slush -> NiceHash -> ...

Since I see so few BIP101 blocks, I felt the need for a small experiment:
  1. I setup a NiceHash.com and a mining.bitcoin.cz (slush pool) account. Then I filled up my nicehash wallet initially with some coins.
  2. Then I rent Hashrate and pointed them to SLUSH BIP101 stratum servers:
    stratum+tcp://stratum.bitcoin.cz:3301 - General stratum+tcp://us-east.stratum.bitcoin.cz:3301 - USA stratum+tcp://eu.stratum.bitcoin.cz:3301 - Europe (The above info is from slush FB site, they do not have it on their site yet, very confusing). 
  3. I set the payout address back to my NiceHash wallet.
Every share reward I mine is directly transferred back to NiceHash to rent more Hash power. Of course this method has frictional losses because of fees, luck and such. But since I believe in the need for bigger blocks and love this voting for consensus, its worth something.
I will update this when I have numbers about invest, return, fees friction losses etc..
Update 1 I invested 1 BTC to start renting hashrate at approx 0.009 Btc/THash/Day. It burned 0.22 BTC of invest to get a return of 0.27 BTC. A gain of 0.05 Btc due to luck of mining for Slush. Lets hope it keeps up :)
Update 2 Falling fiat prices (higher costs) combined with a bit bad luck can lead to a burnrate of ~20% per cycle (nicehash->slush->nicehash). Anyway from the numbers this can also be profitable. Maybe I retry at a higher fiat price.
submitted by willsteel to bitcoinxt [link] [comments]

Unable to mine for Bitcoin Classic on Multipool with cgminer... am I missing something?

Hi guys, I'm trying some mining pools to see which is the best for my needs. After testing Slush, today I registered on Multipool.us to start mining there. I set up my worker, added my wallet address and checked out the mining URLs here, where it says:
Bitcoin: stratum+tcp://eu.multipool.us:3332 Bitcoin (Classic): stratum+tcp://eu.multipool.us:3345 
I want to mine Bitcoin Classic and I'm using a little USB miner called Gekko 2-Ppac (which uses two BM1384 chips and works at around 26Gh/s), so I started cgminer with the following command (obviously replacing user.worker with my real user and worker names):
cgminer -o stratum+tcp://eu.multipool.us:3345 -u user.worker -p x 
It starts, detects the miner, and then just says "waiting for work to be available from pools", but the pool doesn't look like responding. After a minute or two it just gives up and says to press any key to quit.
I tried some more configs changing the password (which is actually not required so it shouldn't be the problem), the worker name etc, but it doesn't look like it's working. I then tried to mine Bitcoin (not classic) using the port 3332 (see above) and the exact same command, and the miner started running without a problem at the expected speed.
Is there something I'm missing about Bitcoin Classic that is required to mine? Could that be something about my USB miner? I don't think so, I mean it's still SHA-256 so there shouldn't be any problem. What should I do?
Thanks for reading through this, any help would be really appreciated.
submitted by mebeim to BitcoinMining [link] [comments]

I can afford to lose

I first learned of Bitcoin in 2010, installed the client and got my first bitcoin from The Bitcoin Faucet. Thank you Gavin, I assume it was your property.
I fell down the rabbit hole after reading Satoshi's paper (read it about 10 times so far. It gets better each time). I enabled bitcoind's mining feature on my home CPU (and possibly my work machine) and managed to solo mine a block. At the time, they were worth about $0.50 ea. A few months later, and zero blocks found, I compiled some code that allowed me to mine using my nVidia GPU. Still no blocks. Welcome slush pool! Bitcoins were flowing again (about 1/week). At this point, I figured I could make some money at this (price ~$1.00), so I spent $170 on an ATI GPU (about 10 times faster than the nVidia).
Difficulty was increasing, people were building huge GPU rigs - I wasn't one of them. I bought a few coins through MtGox and a few more with paypal. But for the most part, I was happy getting about 1BTC/week on my ATI card. I wasn't ready to spend my "real" money just yet.
I "invested" some assets on GLBSE and put it into a mining company called BITBOND. Was feeling pretty good until GLBSE was shut down and lost 50% of what I invested. I guess Bitcoin Savings and Trust (BST) was a bad idea. But, hey we're just playing around with digital tokens. No worries, I could afford to lose it - maybe $200 worth at the time. Live and learn.
Bitcoin velocity started to increase with Eric's Satoshi Dice and Charlie's BitInstant. Up to $28... Have to buy more. Crash! Back to $2.00 and bailed. Lost another $200.00.
In 2012, I made some paper wallets and gifted all my family members some BTC for x-mas. They were worth about $13/BTC. I still keep an eye on the accounts with watch only addresses on Blockchain.info. Paper wallets were created with Diceware and Amir's sx/libbitcoin, pen and paper.
GPU mining was puttering out, so I spent $300 on a BFL 5GHz ASIC with paypal. I received mine in July of 2013, mined 2 BTC over two weeks, then sold it for $350 on ebay. The mined coins were worth about $300, so I doubled my money. The difficulty increases went lunar, and that BFL miner never mined another full bitcoin. Sorry e-bay buyer.
My mining days were over and Coinbase came online. Since then, I've been lazily buying $50/week using Coinbase's recurring buy feature. All the way up to $1200 and all the way back down to $170. I've been here before. Each time though, I have more coins than I had before - and that's all that matters to me.
Bitcoin's not made me rich. I'm not driving a Ferrari with BITCOIN plates... yet. I'm only in as much as I can afford to lose. It's been a fun ride.
To all the people and companies mentioned, and to all of you building the future, Thank You.
submitted by btc-loser to Bitcoin [link] [comments]

[Pre-BIP] Community Consensus Voting System | t. khan | Feb 02 2017

t. khan on Feb 02 2017:
Please comment on this work-in-progress BIP.
Thanks,
BIP: ?
Layer: Process
Title: Community Consensus Voting System
Author: t.khan
Comments-Summary: No comments yet.
Comments-URI: TBD
Status: Draft
Type: Standards Track
Created: 2017-02-02
License: BSD-2
Voting Address: 3CoFA3JiK5wxe9ze2HoDGDTmZvkE5Uuwh8 (just an example, don’t
send to this!)
Abstract
Community Consensus Voting System (CCVS) will allow developers to measure
support for BIPs prior to implementation.
Motivation
We currently have no way of measuring consensus for potential changes to
the Bitcoin protocol. This is especially problematic for controversial
changes such as the max block size limit. As a result, we have many
proposed solutions but no clear direction.
Also, due to our lack of ability to measure consensus, there is a general
feeling among many in the community that developers aren’t listening to
their concerns. This is a valid complaint, as it’s not possible to listen
to thousands of voices all shouting different things in a crowded
room—basically the situation in the Bitcoin community today.
The CCVS will allow the general public, miners, companies using Bitcoin,
and developers to vote for their preferred BIP in a way that’s public and
relatively difficult (expensive) to manipulate.
Specification
Each competing BIP will be assigned a unique bitcoin address which is added
to each header. Anyone who wanted to vote would cast their ballot by
sending a small amount (0.0001 btc) to their preferred BIP's address. Each
transaction counts as 1 vote.
Confirmed Vote Multiplier:
Mining Pools, companies using Bitcoin, and Core maintainers/contributors
are allowed one confirmed vote each. A confirmed vote is worth 10,000x a
regular vote.
For example:
Slush Pool casts a vote for their preferred BIP and then states publicly
(on their blog) their vote and the transaction ID and emails the URL to the
admin of this system. In the final tally, this vote will count as 10,000
votes.
Coinbase, Antpool, BitPay, BitFury, etc., all do the same.
Confirmed votes would be added to a new section in each respective BIP as a
public record.
Voting would run for a pre-defined period, ending when a particular block
number is mined.
Rationale
Confirmed Vote Multiplier - The purpose of this is twofold; it gives a
larger voice to organizations and the people who will have to do the work
to implement whatever BIP the community prefers, and it will negate the
effect of anyone trying to skew the results by voting repeatedly.
Definitions
Miner: any individual or organization that has mined at least one valid
block in the last 2016 blocks.
Company using Bitcoin: any organization using Bitcoin for financial, asset
or other purposes, with either under development and released solutions.
Developer: any individual who has or had commit access, and any individual
who has authored a BIP
Unresolved Issues
Node voting: It would be desirable for any full node running an up-to-date
blockchain to also be able to vote with a multiplier (e.g. 100x). But as
this would require code changes, it is outside the scope of this BIP.
Copyright
This BIP is licensed under the BSD 2-clause license.
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submitted by dev_list_bot to bitcoin_devlist [link] [comments]

Bitcoin Miner Tutorial - SlushPool Dashboard - YouTube BITCOIN Mining Tutorial Slushs pool mining tutorial - cgminer worker setup - YouTube Bitcoin miner tutorial - Slushpool mining pool setup - YouTube How to choose a Bitcoin mining pool - YouTube

Hello Miner, thank you for choosing Slush Pool! Our help center is the right place where you can learn how to start mining, troubleshoot your mining issues, or simply learn more about mining with our pool.. Feel free to click through the articles or use the search functionality located on the right side of the top bar. It searches not only on this site but also on our dedicated support site ... Slush Pool is not operating as a cryptocurrency wallet, therefore it is not possible to generate your payout address at the pool site. However, there are plenty of cryptocurrency wallets available where you can easily create your own address. We recommend the Trezor Hardware Wallet for maximum security. Lists of other usable wallets for: Bitcoin; Zcash; Once you have an address, go to Settings ... Slush Pool is the 1st mining pool with more than 1.2M BTC mined since 2010. Explore features such as advanced payouts, monitoring and more. Slush Pool is the first publicly available mining pool, first annouced in 2010 under the name Bitcoin Pooled Mining Server. Slush Pool allows users to mine BTC and ZEC. Bitcoin can be mined for a 2% fee, while ZEC is mined for free. The pool shares the transaction fees earned with miners. The coinbase signature for this pool is: "/slush/" First Bitcoin mining pool in the world; Operating since December 2010; Over 1,000,000 BTC mined since December 2010; Long history of stable and accurate payouts; Active Development. Overt AsicBoost compatible. New features have been added. See Release Notes for more information. Development proposals driven by your hash rate; Unique Voting System. Our pool stays politically neutral. As such ...

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Bitcoin Miner Tutorial - SlushPool Dashboard - YouTube

Tutorial: 1. Mining Hardware kaufen (Asic Miner) 2. Pool Webseite aussuchen -Empfehle: https://slushpool.com/dashboard/ 3. Mining Software downloaden -BFGMin... Bitcoin mining pool slushpool offers a new AI and a powerful dashboard. This tutorial will demonstrate how you can setup a worker on slushpool to mine bitcoi... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Let your computer earn you money with Bitcoin Miner on slushpool. This slushpool mining pool tutorial will demonstrate how to setup your bitcoin miner. #Bitc... Slushpool is the oldest bitcoin mining pool, and the first known to be publicly available. This tutorial will demonstrate worker setup on slushpool mining pool.

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