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Showing posts from December, 2017

Remember one thing, other coins that claim to be instant and zero fees don't have the amount of users or traffic as Bitcoin

Bitcoin's transaction fees and confirmation times are a result of a large user base and heavy usage. Blockchain technology itself isn't good for scaling, with enough traffic, it will eventually get clogged up regardless of the coin. This is why LN is needed, it's layer on top of blockchain that enables instant transactions, low fees and ultimately result in less traffic. So when you see people shilling other coins on the speed, remember they don't have the userbase or traffic that Bitcoin currently has. Once Bitcoin utilizes Lightning Network, other coins lose their competitive advantage while Bitcoin will still have the largest userbase in crypto. Bitcoin in it's current state is a store of value with massive adoption, Lightning Network will evolve bitcoin to being a currency. Submitted January 01, 2018 at 01:56AM by AS_Empire http://ift.tt/2C46mpZ

Lightning network is a huge network upgrade. People will be pouring into it, and this will force Segwit adoption. It’s a self fulfilling prophecy! I ain’t worried

No text found Submitted December 31, 2017 at 08:32PM by puffman123 http://ift.tt/2DExE6T

It's Official: First Bitcoin Lightning Network Payment Completed

http://ift.tt/2zTVn0s Submitted January 01, 2018 at 12:44AM by Metabudder http://ift.tt/2C0cfnX

Day 6: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and tx fees are low. Refer a friend to SegWit today. There's no $10 referral offer, but you'll both get lower fees and help strengthen the BTC protocol

TL/DR Bitcoin users can help lower transaction fees and contribute to bitcoin by switching to SegWit addresses and encourage wallets/exchanges to do the same. SUMMARY Segregated Witness (SegWit) was activated on the Bitcoin network August 24 2017 as a soft fork that is backward compatible with previous bitcoin transactions ( Understanding Segregated Witness ). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work on integrating it. Others, such as Zebpay in India have already implemented SegWit and are reaping the benefits of reduced transaction fees. If bitcoin users demand SegWit now it will temporarily relieve the transaction backlog while more even more advanced solutions such as Lightning are developed. Batching is another great way that exchanges can reduce their fees. See: Saving up to 80% on Bitcoin transaction fees by batching payments . Despite the benefits of batching, some exchanges

9 years almost passed After Bitcoin Creation! Happy NYE everyone!

http://ift.tt/2C0XBwZ Submitted December 31, 2017 at 07:13PM by viziris http://ift.tt/2DDp1cr

This is getting ridiculous. 70 sat/B and 1000 sat/B transactions get confirmed in the SAME block.

Wallets seriously need to fix their fee determination algorithm. Submitted December 31, 2017 at 05:51PM by speackio http://ift.tt/2DF6ooq

Happy New Year! Also, time to pay your Capital Tax! Here are all possibilities of a taxable event for cryptocurrencies. (US Residence)

So you Invested in some Bitcoin this year and made some sweet, sweet Fiat? Maybe you traded your Bitcoin, to Etherium. Then maybe you traded your Etherium for some Bitcoin and some Ripple. What are you taxed on? I hope to answer these questions. Selling for Fiat So the first way that you'll owe GAINS TAX is if you sold bitcoin for money, at a profit! It does NOT matter when you bought the Crypto. It only matters that you sold it in the last year. So if you bought a bitcoin 1 month ago for 8k. And sold today at 13k. You NEED to report a $5,000 on your taxable gains. Trading for Other Crypto The other scenerio when you need to report is when you trade for other other currencies. When a trade commences it is treated as you selling and then buying whatever your trading for. So if you bought bitcoin 1 month ago at 8k. And traded it to BCash today while bitcoin was 13k. It is treated that you sold the bitcoin at that price and you need to report the 5k. This might sound unfair, how

2018 Will Be Like This

http://ift.tt/2lqcVge Submitted December 31, 2017 at 08:59PM by tuzki http://ift.tt/2Chre17

Australian bank cash-reserve requirements buckle under bitcoin trading pressure.

/DEC 31, 2017/ Australia's "big 4" banks, dominating 83% of Australia's banking industry, stepped up their efforts to block crypto-currency trading and stem the outflow of customer cash this week, spiking a renewed wave of social-media condemnation. Banking regulation in Australia requires banks to hold a minimum of 11% cash against loans they write, so as crypto-investors move their savings out of the banking system, those banks loose their ability to legally write new loans, or worse, fall into non-compliance with their reserve obligations. The big-4 banks pay no interest (0%) to business accounts, while personal accounts earn from 0% to 1% annual interest and attract a range of fees and charges. Contrast this with cryptocurrencies, where bitcoin earned more than 1400% in 2017, and Ethereum earned above 8600% and it's clear to see why Australians have lost interest in keeping their deposits in their bank account. In just one year, a decent investment in cry

just found 1.5 btc in old wallet

actually it was an old ripple wallet. back in the day on the bitcointalk forums, they gave 11k xrp to everyone in 2013... today i saw the price for xrp went up to all time highs .. I remembered i had that old wallet which I hadn't touched since then. boom 20k worth of ripple just sitting there untouched. just converted it to btc. any old school bitcoiners should check to see if you have an old ripple wallet laying around. edit - the post where i'm pretty sure i got them was http://ift.tt/1d8lvmy Submitted December 31, 2017 at 02:01PM by jhansen858 http://ift.tt/2q4kcHm

GREAT NEWS: In Australia, Bitcoin has just hit a YTD new high and the same is bound to happen in America in just a few hours!

No text found Submitted December 31, 2017 at 07:37PM by jose628 http://ift.tt/2Cq5hvY

What people look like trying to predict bitcoin prices.

http://ift.tt/2ltUQNy Submitted December 30, 2017 at 10:32PM by Rozoxs http://ift.tt/2EhCsA5

US dollar will end 2017 as worst since 2003 while Bitcoin up 1372%

http://ift.tt/2Eic7St Submitted December 31, 2017 at 02:12AM by wwtt1210 http://ift.tt/2pWMq6K

We must boycott exchanges without Segwit

The division and inertia in the community are a serious danger for BTC future. Good forks must be successful and widely adopted or else we might get replaced by some shitty centralized coin. Most widely used exchanges have no motivation to adopt forks if the community does not threat their profits. Those who refuse to adopt new technologies must perish or adapt. Could someone post some newbie friendly advice on which exchanges to change to? Could you please detail pros and cons of each option? How hard is to move all the coins to another exchange? Which fees can we expect? Submitted December 31, 2017 at 03:28PM by yarauuta http://ift.tt/2pZtAMi

Fortune cookie says to HODL

http://ift.tt/2DB42qU Submitted December 30, 2017 at 11:26PM by Anonymous_Cherub http://ift.tt/2EkA7o2

Bitrefill Runs Successful Lightning Transaction Test

http://ift.tt/2lqW9wR Submitted December 31, 2017 at 02:46AM by ziggamon http://ift.tt/2q0kC1w

The Anti Lightning Network/Segwit FUD is getting ridiculous. Please do your own research before believing FUD comments. Segwit works. LN works. 8MB blocks are for lazy Devs.

No text found Submitted December 31, 2017 at 07:08AM by gorgamin http://ift.tt/2Csr1oA

SegWit, Lightning Network, and Schnorr are way more important than the current price.

Stop thinking only about the price. Submitted December 31, 2017 at 04:45AM by ayanamirs http://ift.tt/2CuC68Q

New to Bitcoin? Follow these 5 simple rules.

http://ift.tt/2CeTeSS Submitted December 31, 2017 at 01:16AM by TryBobby http://ift.tt/2zQIPa4

I made a bet with my Dad...

I encouraged my Dad to invest last month. He was late to the party and invested $3500 at the $19000 mark. I told him not to panic if the price drops to $14k. Consequently, it has, and he wants out! I've told him to HODL, shown him what to do when the price drops , but he still wants out. Fair enough... but since I think a panic sell is just the wrong thing to do for the long term, I've decided to take ownership of all his bitcoin, and promised to pay him his $3500 on his birthday, 20th December 2018. He's happy because he hasn't lost anything. I'm happy because he hasn't lost anything, and I'm confident the price will be higher than what he bought in at this time next year. Bitcoins are in Bread Wallet. Mnemonic phrase backed up, left in a safe, also saved on external HD's. Here's to HODLING!!! Happy New Year! Submitted December 30, 2017 at 07:50PM by seeaitch http://ift.tt/2pYvkFw

The Ultimate Bitcoin Article

http://ift.tt/2BYwKBq Submitted December 30, 2017 at 09:26PM by Iliketechhumor http://ift.tt/2CiqS9R

There are a lot of people selling to take profits in 2017

This is common investor behavior, it happens in every asset class. The Dow went down yesterday as well for the same reason. There are good tax reasons to sell some profits in 2017 and pay the estimated tax early - to avoid penalties. Especially with Bitcoin Cash and the uncertainty of how that will be taxed. There are also a lot of investors who are going to report and pay taxes on everything they bought and sold in the crypto world. This isn't a "Crash" - this is normal investor behavior. This is also just my opinion, but I have been investing in many things over the past 2 decades. Happy New Year! Submitted December 30, 2017 at 10:10PM by gopher33j http://ift.tt/2Cm9kJO

Worst part of New year!!

http://ift.tt/2BZV5ak Submitted December 30, 2017 at 09:26PM by Mikeross14 http://ift.tt/2CkB4hY

How to get kidnapped/mugged 101.

http://ift.tt/2Cjwwsd Submitted December 30, 2017 at 08:05PM by technone_is_dead http://ift.tt/2CnyJ5M

BitMex has just liquidated and distributed their Bitcoin Cash in the form of Bitcoin to their customers.

http://ift.tt/2BWCBal Submitted December 30, 2017 at 08:38PM by noturfault http://ift.tt/2CdhCo6

Someone destroyed 12.5 newly mined bitcoins

http://ift.tt/2ln362B Submitted December 30, 2017 at 06:19PM by bitcoinDKbot http://ift.tt/2lwzUoW

BCrash developer wants to "euthanize Core" while he uses their code... hmmm

https://twitter.com/PeterRizun/status/935228012873728000 Submitted December 30, 2017 at 07:40AM by wallyjo3 http://ift.tt/2CbAzaI

Looks the same 5k to 3k, 20k to 12k?

http://ift.tt/2DBxtsR Submitted December 30, 2017 at 04:07PM by maikovde http://ift.tt/2lv0U8x

Its Official! I finally made it to .1 BTC!

I was at .066 and decided to start trading alt coins around till I got to .1 so all my $ could be used for christmas and holiday stuff. So excited!!! Its been alot of fun, and I'm so glad I accomplished this!!! Submitted December 29, 2017 at 10:46PM by saberprophecy http://ift.tt/2lkHtQv

Showerthought: Spam Attacks/High Fees which "hurt" bitcoin actually incentivize Lightning Network progress

Analogy: high fuel prices incentivize auto/EV innovation, rather than kill auto Submitted December 30, 2017 at 12:40AM by ceeemeee http://ift.tt/2DylMmS

“I think that the Internet is going to be one of the major forces for reducing the role of government.” -Milton Friedman

No text found Submitted December 30, 2017 at 02:19AM by ccooiinnzz123 http://ift.tt/2Cllno9

I gave my daughter 5 BTC in 2011. This is what she spent 0.6 BTC on.

http://ift.tt/2CjzXz4 Submitted December 30, 2017 at 12:38PM by throwitunder21 http://ift.tt/2Eflz97

Lightning is an open protocol, not a product. Core is an open process, not a company. Corporations and centralization are faster, marketed better, more polished, and can be more efficient. Open systems and decentralized solutions will still win; if we fight for them.

https://twitter.com/alexbosworth/status/946975798837121025 Submitted December 30, 2017 at 10:51AM by acevol http://ift.tt/2DAdHxX

My girlfriend got me the best Bitcoin mascot ever for Christmas. Scrooge McDuck: OG HODLer.

http://ift.tt/2CoiPFW Submitted December 30, 2017 at 03:57AM by Porespellar http://ift.tt/2BVq2ft

Lightning Network is a bitcoin cache (Jameson Lopp on Twitter)

https://twitter.com/lopp/status/946746131760992256 Submitted December 29, 2017 at 07:32PM by Stagounet2 http://ift.tt/2EbXtMo

GDAX has now kept over $10,000 worth of my BTC hostage from me for a MONTH.

Reddit please upvote for visibility. The BTC that I deposited into GDAX on 11/30 has still yet to be credited to my account (tx has over 4000 confirmations). This is after having no issues with gdax for years. After calling, emailing, and receiving only template responses at best from Coinbase, I’m at a loss for what to do. If you’re considering trading, please for your own sake check out alternatives. I’m not saying Coinbase is a fraud, I’m just saying they’re spread too thin in case you actually do need to get in touch with their staff. I’ve personally moved all btc to fiat and fiat to btc to Gemini. edit: case ID 2652513 relevant blockcypher of btc tx Submitted December 30, 2017 at 09:34AM by doebro http://ift.tt/2lpMeHI

Japan taxi, bitcoin

http://ift.tt/2CjcX36 Submitted December 29, 2017 at 07:23PM by jackcarrter http://ift.tt/2Ebkf7d

Coinbase Account ALMOST Compromised this morning. Use 2-Factor Authorization!

http://ift.tt/2EfBbJQ Submitted December 30, 2017 at 12:25AM by dancurranjr http://ift.tt/2DylWdY

Found him 😆

http://ift.tt/2CnRx2o Submitted December 30, 2017 at 02:15AM by dankoman30 http://ift.tt/2DxpBsv

I made a thing: run Lightning Network Daemon in a Docker Container!

http://ift.tt/2lha1dJ Submitted December 29, 2017 at 08:55PM by samjhill http://ift.tt/2DvqVfc

Simulating a Decentralized Lightning Network with 500,000 payments, 0.01% fee per hub and 10 Million Users: 100% success (99.9986%)

I repeated Diane Reynolds' simulation, as described here , using her program. The only change I made was that instead of having "11 different fee policies evenly distributed among users", each node simply asks for 0.01% fee (= value x 0.0001) to route a transaction. Some of the 11 fee policies were quite complicated, like "trying to make channels more balanced". Here are the main results: Payments attempted: 500,000 Fee as a percentage of the payment 0.175 Routing failed: 7 Routing failed for bigpayments: 3 Routing failed for midsizedpayments: 1 Routing failed for micropayments: 3 Average lengths of routes: 17.5 So the payment failed for only 0.0014% of the payments. Note that for the last 100,000 payments, routing failed only once (1 midsizedpayment) and from 100,000 to 500,000 only 3 times (1 big, 1 midsize, 1 micro). The average total fee for a payment makes sense, as 0.01% x 17.5 hubs = 0.175% total fee. I didn't realize the program stopped aft

Bcrash folks are using more of Core's code/fixes while saying Core is not good. Hmmmmm

https://twitter.com/IamNomad/status/946614057385291777 Submitted December 29, 2017 at 07:11PM by wallyjo3 http://ift.tt/2lihRnj

CNBC catches up to the rest of us regarding Bitcoin and shitforks

https://twitter.com/tekcomms/status/946442190103904256 Submitted December 29, 2017 at 08:12AM by DetrART http://ift.tt/2lfNfmm

Price Drop, don’t PANIC! Follow these steps

http://ift.tt/2CiswrN Submitted December 29, 2017 at 06:55PM by crazeone1 http://ift.tt/2llSl0H

Why Schnorr signatures will help solve 2 of Bitcoin’s biggest problems today

http://ift.tt/2tEWvG7 Submitted December 29, 2017 at 11:29AM by ayanamirs http://ift.tt/2pVEfb4

Finally joined the Cold Side

http://ift.tt/2zMsvam Submitted December 29, 2017 at 05:03PM by wittosuaff http://ift.tt/2pTplC9

He chose PayPal!

http://ift.tt/2pSiAjY Submitted December 29, 2017 at 12:04PM by tomleih http://ift.tt/2EbSafS

I wrote a guide for Windows users to be able to setup a Lightning Network Node. It's pretty easy, try it!

http://ift.tt/2Clh2Sb Submitted December 29, 2017 at 07:52AM by champbronc2 http://ift.tt/2DurBlb

My gift to the community... Enjoy.

Humbly I gift my eBook to the entire community for free. No strings attached. May this information help you help your loved ones and yourself to prepare for 2018. Feel free to share it with whoever you think could benefit. "Practical Guide to Bitcoin Investment 2018 - Helping the Early Adopters" Full PDF uploaded to docdroid. Enjoy the read. http://ift.tt/2Ci2J33 Submitted December 29, 2017 at 10:01AM by JamesF0 http://ift.tt/2lgFfBH

Today marks 1 month since Bitcoin first hit $10,000.

http://ift.tt/2DtCaou Submitted December 29, 2017 at 07:42AM by A_Internet_Stranger http://ift.tt/2Ds8N5W

Brother painted this after watching his friends check the value of bitcoin every 5 seconds for the last two weeks

http://ift.tt/2BRcTnF Submitted December 29, 2017 at 06:49AM by robindawilliams http://ift.tt/2lqxOXE

Bitcoin exchange chief kidnapped as he leaves work

http://ift.tt/2E4Kk7U Submitted December 29, 2017 at 02:13AM by 007meow http://ift.tt/2lelGtP

Almost exactly 3 years ago

http://ift.tt/2vWGLiN Submitted December 28, 2017 at 02:56PM by casabanclock http://ift.tt/2zGfrmE

Will Bitcoin's Lightning Network Kill Off Altcoins Focused on Cheap Transactions?

http://ift.tt/2E8vvB6 Submitted December 28, 2017 at 11:35PM by kyletorpey http://ift.tt/2Clqbdh

Don't repeat my mistakes. I had everything, now i am broke

After reading all these bitcoin success stories around here, i decided to share my story of failure, in order to protect people from the mistakes i made. I have no intend to ask for a help, but a bit of moral support will be very helpful. I am very ashamed of my ignorance, it's hard to admit it, but i will try. I was into bitcoin for about a 2 years. All that time i was buying btc and hodling, never sold a single satoshi, waiting for times when i could spend it without converting into fiat. I was lunatik about how cryptocurrency will make a world a better place (and i am still is), this ideology changed my life. My family and friends, which mostly are people from my christian community, never supported these interests. We were always arguing about gambling component and how our religion is against it. And about bank system, etc. I wont brag you how much i had btc, but for me and my family it was a very big money. And i did couple major mistakes. Frankly, i think i did EVERYTHIN

Bitcoin Core is preparing / planning the version scheme for 0.17 - For those interested in "non-price / FUD " articles

http://ift.tt/2E8npss Submitted December 29, 2017 at 01:33AM by lbalan79 http://ift.tt/2E8XZLe

$5,000,000 in Bitcoin donated to a Universal Basic Income experiment!

http://ift.tt/2Ds0Mhd Submitted December 28, 2017 at 06:12PM by ScienceRecruit http://ift.tt/2zGPfIQ

South Korea's Bitcoin Regulation is Highly Optimistic, False Reports Claim Ban

http://ift.tt/2ldPEOj Submitted December 28, 2017 at 09:37PM by Tekafranke http://ift.tt/2Ck0CJq

App organization is key to mindset

http://ift.tt/2CilsZW Submitted December 28, 2017 at 08:24PM by sickrefman http://ift.tt/2DrqHpk

Used Gemini for the first time. It was better than Coinbase.

Been in Bitcoin since 2013. Made beaucoup trades with Coinbase over four years. I set up a Gemini account a while back just in case it would be needed someday. The account sat there unused for several months. Then, Coinbase got up to their shenanigans with Bcash, etc., so I decided to move all my personal buying/selling away from Coinbase about week ago. Yesterday, I needed to sell some ETH. I used Gemini for the first time, and it was great. Much better than Coinbase. If you haven't tried Gemini, now would be a good time. Submitted December 28, 2017 at 10:19PM by CryptOpinion http://ift.tt/2lndruJ

How a lot of people behave with Bitcoin 😂

http://ift.tt/2BZQ99b Submitted December 28, 2017 at 02:41AM by Diazepam http://ift.tt/2C0pUj2

Bob show me your ways.

http://ift.tt/2lkWil5 Submitted December 28, 2017 at 06:55AM by mrHISF http://ift.tt/2la7guz

Breaking down the FUD: A Closer look at Recent Korean News

I am doing this again, because I hate seeing people get fooled over and over by these horrible news articles that are obviously preying on misconceptions by people in other cultures. So I am here to break down exactly what the recent Rueters article is trying to do to people who don’t understand how the Korean banking system works. Now, before I moved to Korea, I too was naïve about their banking practices. If I saw an article saying “The steps will include a ban on opening anonymous cryptocurrency accounts and new legislation to allow regulators to close virtual coin exchanges if needed” I too would be confused by misunderstanding. But, what exactly does this mean? Opening cryptocurrency bank accounts? How does that happen in Korea? In America, I only have 1 bank account. Maybe two. And how do I open one anonymously? What Reuters is doing, and it knows it, is failing to explain Korean banking systems in general. So, in Korea, it is very common for businesses to open temporary ba

LN nodes are NOT banks or like banks. Please stop spreading this nonsense.

"A bank is a financial institution that accepts deposits from the public and creates credit." (WP). The "creates credit" aspect is the central concept of a bank. A bank creates credit. Lending money is the core business model of banks. So something which doesn't lend money isn't a bank. The core concept of LN is that money in a channel needs to be funded first. A LN node doesn't lends money, so it isn't a bank. Lending money is also the real problem, risk etc with banks: If a bank lends out money to the wrong people, the bank can become bankrupt and all their customers deposits can't be payed back anymore which can create lots of trouble if banks hold lots of money. A LN channel only has the money which is funded first so it can't go bankrupt. People will always get their money back. There is no possibility of a bank run or economic collapse as with banks. Also a bank can create "money from nothing" because of fractional reserv

My local strip club won't take bitcoin :(

http://ift.tt/2l9UqwB Submitted December 28, 2017 at 05:37AM by dusty909 http://ift.tt/2CcORqK

2018 will be the most exciting year for Bitcoin— it will be the year when people realize that “Bitcoin isn’t a bubble, it’s the pin.”

https://twitter.com/austinhill/status/946069960115105794 Submitted December 27, 2017 at 11:46PM by 21millionreasons http://ift.tt/2CePyzR

Calm down guys “Forbes : South Korea Is Not Banning Bitcoin Trade, Financial Regulators Clarify”

http://ift.tt/2lk3cHl Submitted December 28, 2017 at 08:53AM by izzue1304 http://ift.tt/2pM5SDg

My friend has enough to afford going to medical school one year after investing

http://ift.tt/2l7nMvo Submitted December 28, 2017 at 07:12AM by Carbanions http://ift.tt/2C0BOt7

I think he's gonna be okay in the end. 👌

http://ift.tt/2CcmYz4 Submitted December 28, 2017 at 01:02AM by katiecharm http://ift.tt/2Do1nkm

Mainnet Lightning Network paying my actual phone bill with actual Mainnet funds on @bitrefill. Speed: Instant. Fee: Zero. Future: Almost Here.

https://twitter.com/alexbosworth/status/946175898029395968 Submitted December 28, 2017 at 05:30AM by juscamarena http://ift.tt/2BLjAI2

Day 5: I will post this guide regularly until available solutions like SegWit & order batching are mass adopted, the mempool is empty once again, and transaction fees are low. User demand from this community can help lead to some big changes. Have you joined the /r/Bitcoin SegWit effort?

SUMMARY Segregrated Witness (SegWit) was activated on the Bitcoin network August 24, 2017 as a soft fork that is backward compatible with previous bitcoin transactions ( Understanding Segregated Witness ). Since that time wallets and exchanges have been slow to deploy SegWit, some admitting in December 2017 that they have not even started work. If users demand SegWit now it will temporarily releive the transaction backlog while bigger solutions like Lightning are developed. TODAY's NEWS/DEVELOPMENTS/VICTORIES Conomi promises SegWit "in a few days" Bitpanda implements Segwit! Pirate Bay provides a bech32 SegWit address Which one of you emailed them to request this ;) Spreading the message to Twitter: Daily Reminder: switch to segwit wallets and exchanges immediately Segwit adoption increasing! Please help to raise awareness! Spread the word and help the SegWit adoption. Also have fun;) MEMPOOL/SEGWIT STATISTICS BitInfoCharts.com - Average Transaction Fees

TIL in 2011 a user running a modified mining client intentionally underpaid himself 1 satoshi, which is the only time bitcoin have ever truly been destroyed.

In block 124724 you'll find txid 5d80a29b which has a payout of 49.99999999 BTC at a time when the block reward was 50 BTC. A transaction fee of 0.01 BTC was also forfeited. This bitcoin no longer exists anywhere in the network, as opposed to "burned" coins which technically still exist in a wallet which no one can ever access (ex: 1BitcoinEaterAddressDontSendf59kuE ). On bitcointalk user midnightmagic explains a deeper meaning behind this : I did it as a tribute to our missing Satoshi: we are missing Satoshi, and now the blockchain is missing 1 Satoshi too, for all time. Submitted December 28, 2017 at 01:48AM by NewLlama http://ift.tt/2li3QFi

Long live decentralized bitcoin(!) A reading list

Newbs might not know this, but bitcoin recently came out of an intense internal drama. Between July 2015 and August 2017 bitcoin was attacked by external forces who were hoping to destroy the very properties that made bitcoin valuable in the first place. This culminated in the creation of segwit and the UASF (user activated soft fork) movement. The UASF was successful, segwit was added to bitcoin and with that the anti-decentralization side left bitcoin altogether and created their own altcoin called bcash. Bitcoin's price was $2500, soon after segwit was activated the price doubled to $5000 and continued rising until here we are today at $15000. During this drama, I took time away from writing open source code to help educate and argue on reddit, twitter and other social media. I came up with a reading list for quickly copypasting things. It may be interesting today for newbs or anyone who wants a history lesson on what exactly happened during those two years when bitcoin's

Coinbase Announces 2018 SegWit Support As Third 'Engineering Priority'

http://ift.tt/2onIcEl Submitted December 27, 2017 at 10:37PM by domelane http://ift.tt/2Cg44VB

Coinomi: "we are releasing segwit in a few days"

https://twitter.com/CoinomiWallet/status/946044136834174976 Submitted December 28, 2017 at 01:03AM by New_Dawn http://ift.tt/2CduAyM

PSA: Gemini Exchange - Areas of Operation ... if you live in the US/Canada/UK, you likely qualify to apply for an account with Gemini. Gemini is pro-bitcoin and a much better alternative to ConBase

http://ift.tt/2zDMNTo Submitted December 27, 2017 at 08:28PM by Bastiat http://ift.tt/2C1dFTa

Wirex add Segwit Support!

http://ift.tt/2zDMCaG Submitted December 27, 2017 at 08:43PM by bean_btc http://ift.tt/2C0kXH5

This is why you should invest in cryptocurrency, this is whats important.

http://ift.tt/2zDMurI Submitted December 27, 2017 at 08:52PM by CryptoNimmo http://ift.tt/2C04Qcy

When comparing the Lightning Network to the legacy payment systems, all detractors either miss or intentionally leave out the most important distinction that gives LN its major advantage —> **Zero counterparty risk**

Unlike the bank (or anything we’ve previously known), with the Lightning Network the other party can’t decide not to give you the money they owe you. A blockchain confirmation will always set the record straight. Unlike the bank, the Lightning Network involves zero trust in the other party to give you your funds. http://ift.tt/2kdh35q Submitted December 27, 2017 at 09:13PM by Lejitz http://ift.tt/2E2vbnJ

What he would be wishing now? 😂

http://ift.tt/2CfiuI4 Submitted December 27, 2017 at 11:54PM by sunilross http://ift.tt/2BHrNwL

We have a cryptocurrency called Bitcoin, we have a new network called Lightning Network (LN), we have an upgrade called Segwit, decentralized, resilient, censorship resistent. A world currency! Use it!

PS: Use Segwit, if we use it, we will low fees. Wallets: Hardware wallet (best security): Trezor or Ledger Nano S Desktop wallet: Electrum Android wallet: Samourai Wallet iPhone wallet: GreenAddress Web wallet: BitGo Submitted December 27, 2017 at 06:56PM by btcae http://ift.tt/2pKxfh2

I decided not to give Bitcoin this Christmas and thank god for that decision.

I was going to give my Sister and Dad about $50-$100 each of bitcoin but since around the 22-24th the transactions were taking for ever and fees were so high I decided against it. Keep in mind they know nothing about bitcoin. I didnt mention it at all during the three days I was there (I live interstate) until the last night when my dad randomly goes, "hey mate what is buttcoin?", "I said you mean bitcoin" and "he said yeh". There was also 6 other people sitting around the table, ages between 24-75 none of which new anything about bitcoin. It was the moment I dreaded and I said "its just an online only currency", which he responded "how does it work?", I tried to play it off by saying "its a bit too much to go into now but it basically gives you a relatively anonymous way to do transactions with people all over the world, fast and cheap (lol, bring on lightning network and segwit pls)". Well that was it suddenly everyone at

BTCPay: Meet the Core Developer Who's Building a Better BitPay

http://ift.tt/2DkAu0t Submitted December 27, 2017 at 12:02PM by Suberg http://ift.tt/2BIOwZt

New ledger owners: you can have a "main" wallet and a hidden one on your Ledger Nano S.

With your 24 word seed, and with the PIN, you unlock your main wallet. But you can add a 25th word, what they call a passphrase, and that is another wallet entirely. You can set a secondary PIN that unlocks it. It is not a "password" that encrypts your wallet, it's more like a hidden wallet derived from your 24 word seed. It's an entire new wallet, that works for all your coins, not only Bitcoin. Benefits: 1) 25th word is a security that protects your entire wallet. You should not memorize 24 words, but you can memorize one and write the other 24. 2) your main wallet, the one accessed by the 24 words and main PIN should have money, but not a lot, in case someone forces you to transfer it to them. 3) in case you are afraid of forgetting the 25th word, split your recovery seed form into two, write the first 12 on one form, and the other 12+1 on the other one, and store it at two separate locations, like aunt or parents house. Have a Full 24 word recovery form at h

27/Dec/2017 /r/Bitcoin reaches 600,000 subscribers

http://ift.tt/2ztRWPn Submitted December 27, 2017 at 07:32PM by BashCo http://ift.tt/2l6wiLe

BCash is an empty truck claiming to be faster.

http://ift.tt/2l4Odlw Submitted December 27, 2017 at 02:38PM by gorgamin http://ift.tt/2CbhF2U

I'm too late.

I'm too late to be an early adopter of BTC, I screwed around in my CompSci classes a decade before the Genesis block instead of helping. I'm too late to mine BTC on my CPU, by almost a decade. I'm too late to mine BTC on my GPU, by several years. I'm almost too late to mine BTC on my ASICs, they'll be out of date in a few years. Maybe less. I've made TWO purchases with BTC, both to buy another ASIC. I'm sold some BTC. Ok, I'm too early there, but regret it just the same. I just spun up a testnet BTC node and installed the Eclair Lightning Network client. I did it on an OS I'm really not familiar with, Ubuntu is just different enough from Win10 to make me struggle. I could have done it on Win10, I chose the harder route. I'm NOT too late to do my little part to make this happen. I opened a channel between a testnet Core wallet and an online testnet wallet and bounced Lightning transactions back and forth for an hour, taking only a few seconds

So I made this Bitcoin poster featuring all the words from the whitepaper, and for a very first attempt O'm pretty happy with how it turned out :) What do you think?

http://ift.tt/2DhDsTk Submitted December 27, 2017 at 03:56AM by jhcooper_7 http://ift.tt/2C9SM5g

Lightening hits Bitcoin Mainnet

http://ift.tt/2l0D05i Submitted December 26, 2017 at 11:22PM by wwtt1210 http://ift.tt/2Dg9Ndf

I just got my r/bitcoin starter pack!

http://ift.tt/2C9obF3 Submitted December 27, 2017 at 02:17AM by Dwaas_Bjaas http://ift.tt/2DTUIiN

Showerthought: If Bitcoin investors need to declare capital gains and pay a tax, fiat holders should be allowed to declare capital losses and receive a tax credit

Governments should not be getting any net revenue from the emergence of cryptocurrency technology. If they don't start giving out credits soon, imo they must refund any capital gains paid by crypto investors to date. Submitted December 26, 2017 at 11:32PM by Bastiat http://ift.tt/2BVCrUY

Quote from Andres Antonopolous.

http://ift.tt/2pEWPnr Submitted December 27, 2017 at 11:23AM by AnujMofficial http://ift.tt/2DX71eg

Because of many years of reading this sub and the advice provided here, on the worst day of my life, I didn't lose my bitcoin.

About 6 weeks ago, I had a house fire. It consumed everything. I did my best to fight it, and when I failed at that, woke my friend up who was staying in a guest room, then gave my all for about 15 minutes to find my cats in the blaze. Ultimately got dragged away by the FD and taken to the hospital. I didn't even think about my bitcoin, as honestly, my cats were all I cared about. 3 weeks earlier, I realized I had a stupid amount of money sitting in a wallet.dat file on my computer, and that I really really should put it on a hardware wallet. So I did. I bought a trezor, loaded it up with my BTC and most other coins I had, and put it in a fire safe: http://ift.tt/2C83wAV Here it is. Thanks Trezor. Your product is amazing. The house burned to the foundation, and the firesafe was externally destroyed, but despite the external appearance, inside was a toasted piece of paper with my seed words and this little guy. He was cooked from the heat, and sopping wet from the flood of water

When you're a Bitcoin grandpa but also a hodler since 2013.

http://ift.tt/2pCRux2 Submitted December 26, 2017 at 10:26PM by facetznysy http://ift.tt/2zy6cFm