Bitcoin On Air: November 2015

Monday, 30 November 2015

Someone on the Supergirl show must be a fan.

http://bit.ly/1OBp9K3 via /r/Bitcoin http://bit.ly/1PXx3R2

I started an online store that accepts cryptocurrency - Bitcoin, Litecoin, Doge and a ton of others.

http://bit.ly/1Pqo4YQ via /r/CryptoCurrency http://bit.ly/1Thpfrp

I just bought Fallout 4 for $25 in bitcoin (usually $60). Easy to pay, got the code within 5 min. Why would retailers not adopt this?!

http://bit.ly/1OsoXhS

Submitted November 30, 2015 at 11:54PM by paralavictoriasiempr http://bit.ly/1N0JzJN

Coins.ph surpassed 1,000 repeat customers in July

http://bit.ly/1NZzXyL via /r/Bitcoin http://bit.ly/1QQTYhc

Hiding a QR code in plain sight?

Hey guys! I'm hooking my co-worker with a special gift this Christmas. I have a picture printed out with a wallet key wrote on the back. I was wondering if there was a way to make the QR code on the picture without actually seeing it? Cheers via /r/Bitcoin http://bit.ly/1ThhwJX

Can I set this sub to display banned posts by default somehow please?

No text found

Submitted December 01, 2015 at 07:13AM by Lynxes_are_Ninjas http://bit.ly/1MRXxjo

Scrub looking to start at ~$150

I'm looking to start at ~$150 I know very little. Looking for any helpful buying advice. Is buying used a legit thing? I've seen the Antminer s3+ at $150 which would take 147 day to break even with free power and no power supply. I've looked around the Reddit and found very little that would be helpful recently. Thanks

Submitted December 01, 2015 at 11:03AM by Polackikvitz http://bit.ly/1lr7b2T

How can I know more about bitcoin mining and how can I start if I have free electricity?

I have free electricity in my university. Unless I am taking down the whole university network, nobody cares what I use.

So, how can I get started mining for cheap? What do I have to buy?

I am not looking to make a lot of money, but if I earn a little something and learn more about bitcoin on the way, it will be a win in my book.

Please help a noob out!

Submitted December 01, 2015 at 10:10AM by yodainthehouse http://bit.ly/1jvSmLo

Hey guys (This is a refferal text) for Eobot.

So I just wanted to mention something EOBOT some may not have heard about. Do you have old mining gear collecting dust and looking to start mining again? well at Eobot you can mine LTC and those other pesky coins that require non-sha 256 miners. Yes I did say mine LTC and others, how it works is when you connect your miner to Eobot you will mine BTC instead and Eobot will covert your earnings into the coin you selected to mine.If you find this interesting and like to try it, please click my link, sign up. If you need advice, ask for me, name is Neltharionz on chat. If I am not there, most the time I am, you can ask one of the golden shield mods.My link, http://bit.ly/1OB6dLs via /r/CryptoCurrency http://bit.ly/1NETElb

Nexus: Developing Quantum Security and improved decentralized trust mechanisms in order to improve Bitcoin

Hello guys,I have introduced this thread to Bitcoin.com forum in order to expand our outreach. I hope you can all participate if you are active on this forum as well.http://bit.ly/1OB6dLo it, you will find our new Wiki that we are working on as well as the open-source repository. Videlicet (Nexus core developer) is making updates currently to his private repository so you will not see the latest commits to this repo regarding the code.http://bit.ly/1NETCd1 core is now open-sourced because we believe the time for scams is done. We want to present our technology to the Bitcoin community and to bring in more developers with interest in building with us.Cheers via /r/CryptoCurrency http://bit.ly/1NETEla

Which coin is best to be mined on CPU and which on Nvidia right now? [Profits speaking]

NVIDIA® Quadro® K4200 4GB (2 DP, DL-DVI-I) (1 DP to SL-DVI adapter) + SSD + Intel® Xeon® Processor E5-2630 v3 (8C, 2.4GHz, Turbo, HT, 20M, 85W) is what i have to use.what you guys suggest? via /r/CryptoCurrency http://bit.ly/1St5AER

Here's Why the Value of Bitcoin Could Skyrocket in 2016

http://bit.ly/1Q9hfJy

Submitted December 01, 2015 at 02:37AM by CanaryInTheMine http://bit.ly/1XCQ5v7

Bitcoin dev IRC meeting in layman's terms (2015-11-26)

Disclaimer

Please bear in mind I'm not a developer and I'd have problems coding "hello world!", so some things might be incorrect or plain wrong.
Like any other write-up it likely contains personal biases, although I try to stay as neutral as I can.
There are no decisions being made in these meetings, so if I say "everyone agrees" this means everyone present in the meeting, that's not consensus, but since a fair amount of devs are present it's a good representation.
The dev IRC and mailinglist are for bitcoin development purposes. If you have not contributed actual code to a bitcoin-implementation, this is probably not the place you want to reach out to. There are many places to discuss things that the developers read, including this sub-reddit.

link to this week logs
Meeting minutes by meetbot

Main topics discussed where:

CLTV activation
BIP68/BIP112 implementation
Replace-by-fee

Short topics/notes

It was an American holiday (thanksgiving), so there weren't a lot of people in the meeting, which started later as well.

Personal note: My weekly posts are being read by more people than I ever anticipated and people are expecting these to come weekly.
Next year starting Mid-February I'll be on vacation for a month, so that's 4 or 5 meetings I won't be able to do.
If there's anyone who's up for the challenge to take over during those weeks (or maybe just 1 week and share the load with others) feel free to pm me.
I'm announcing well in advance, so there's more chance to find someone and to not make this a last minute thing.
I'd prefer someone who doesn't work in the bitcoin space (coding), as I much rather have people work on the future of money instead of enlightening us noobs :)

CLTV activation

background

CheckLockTimeVerify (CLTV) aka "how you thought nLockTime worked before you actually tried to use it" aka OP_HODL.

meeting comments

It's plausible the CLTV softfork will activate within just a few weeks, as everyone but a few big miners have adopted it.
About 20% of the nodes currently run CLTV-supporting versions. The negative effect of not upgrading is a degraded validation (SPV).

meeting conclusion

Do a social media reminder to upgrade nodes to v0.11.2/v0.10.4

BIP68/BIP112 implementation

background

BIP 68 Consensus-enforced transaction replacement signaled via sequence numbers , and current implementation.
BIP 112 CHECKSEQUENCEVERIFY, and current implementation.
In short: BIP 68 changes the meaning of the sequence number field to a relative locktime. BIP 112 makes that field accessible to the bitcoin scripting system.

meeting comments

The BIP68 and BIP112 texts have been updated to match the implementations.
There's been a call and discussion to rename CHECKSEQUENCEVERIFY on the mailinglist.
btcdrak wants both pull-requests to be merged soon, others feel more hesitant as people seem to only recently started looking at it seriously.

meeting conclusion

Merge updated BIP-texts

Replace-by-fee

background

Currently when a node sees a transaction that spends the same output it ignores it. With replace-by-fee it replaces the current transaction in the mempool if it has a higher fee.
This allows for things like spending "stuck" transactions, adding more recipients to a transaction in order to prevent chaining, etc.

Since there are people that accept 0-confirmation transactions and this would make it extremely easy to double spend them, this is made opt-in.
The sender can choose to opt-in to replace-by-fee by changing the nSequence field of all inputs.
This is a mempool policy for the upcoming 0.12 release. There's a good FAQ-ish post on reddit about it.

meeting comments

petertodd ran some tests with the mempool limiter turned way down and saw no issues.
It should be technically easy to merge first-seen-safe and full-unconditional as options if there's people who want to write it in.

meeting conclusion

test and ACK replace-by-fee (Has been merged meanwhile).

Participants

btcdrak btcdrak petertodd Peter Todd Luke-Jr Luke Dashjr CodeShark Eric Lombrozo sipa Pieter Wuille jtimon Jorge Timón

Comic relief

19:17 btcdrak wumpus: so no meeting today then? 19:17 CodeShark btcdrak: so no wumpus today then? :) 19:17 petertodd btcdrak: since when do you listen to authority? :P 19:22 CodeShark is there a quorum? or can we meet anyhow? :) 19:22 petertodd CodeShark: I'm in a mcdonalds right now, working on increasing my influence, as measured by mass... 19:22 petertodd CodeShark: so yes 19:49 btcdrak ### 10 minutes left. are there any other topic suggestions? 19:50 petertodd btcdrak: rbf 19:50 btcdrak #topic RBF 19:51 CodeShark anyone have a topic that pays a higher fee? :) 19:51 Luke-Jr this fee is too low, I'm leaving early! 19:24 btcdrak #meetingstart 19:24 btcdrak #startmeeting 19:24 lightningbot Meeting started Thu Nov 26 19:24:40 2015 UTC. The chair is btcdrak. Information about MeetBot at http://bit.ly/1iNUX2M. 20:00 btcdrak #endmeeting 20:00 btcdrak #meetingend 20:00 btcdrak oh ffs, not this problem again 20:00 lightningbot Meeting ended Thu Nov 26 20:00:24 2015 UTC. Information about MeetBot at http://bit.ly/1iNUX2M . (v 0.1.4)

Submitted November 30, 2015 at 11:41PM by G1lius http://bit.ly/21oTgeT

Can I set this sub to display banned posts by default somehow please?

No text found via /r/Bitcoin http://bit.ly/1MRXxjo

NameCheap.com is offering great deals for Cyber Monday. Props to them for accepting Bitcoin.

http://bit.ly/1TgWevW via /r/Bitcoin http://bit.ly/1QQtfkT

Coinado adds 21.co-style payable API endpoint. Use your 21 Bitcoin Computer for cloud torrenting.

Coinado is "torrent-as-a-service" - give us an info hash of a torrent (first part of a magnet link) and we'll torrent the file and stream it to you. Now available as a machine-payable API on your 21 Bitcoin Computer. Quick start:

wget http://bit.ly/1Rh7HNE less coinado21 # inspect code chmod a+x coinado21 ./coinado21 <torrent info hash here>

To stream, for example, the Creative Commons short movie "Sintel" by the Blender Foundation, you would run:

./coinado21 42ade26404772e26f1de2111b317f6543b51be0e

It should look something like this:

Requesting quote, please be patient... This file can be streamed for 3501 satoshis. Press enter to continue or ctrl+d to abort. Writing to Sintel.2010.2K.x264-VODO.mp4...................

Submitted December 01, 2015 at 01:00AM by coinadoio http://bit.ly/1Rh7HNF

Why has the default sorting order been changed to "controversial" for this thread?

http://bit.ly/1Or9G0P

Submitted December 01, 2015 at 03:38AM by singularity87 http://bit.ly/1MRjQpj

Slush Pool to Re-Enable BIP 101 Bitcoin Mining

http://bit.ly/1LJkQYD

Submitted December 01, 2015 at 03:42AM by desantis http://bit.ly/1LJkSzE

Implications for European Bitcoin exchanges: Instant SEPA payments across Europe by November 2017

http://bit.ly/1jvo8I9 via /r/Bitcoin http://bit.ly/1PWPV2z

Bitcoin Grows in Australia Despite Coordinated Clampdown by Banks

http://bit.ly/1HB7TFp via /r/CryptoCurrency http://bit.ly/1jvjM41

Announcing Syscoin 2.0 with Arbitrated Escrow and Encrypted Messaging

http://bit.ly/1HB7TFd via /r/CryptoCurrency http://bit.ly/1jvjM3S

BIP65 is 66% on the way to first activation threshold, UPGRADE your full-node today to Bitcoin Core 0.11.2

http://bit.ly/1QPg0Rg

Submitted November 30, 2015 at 08:41PM by btcdrak http://bit.ly/1NXX5xy

Visualizing BIP101: A Payment Network for Planet Earth

http://bit.ly/1l2KQJz

Submitted December 01, 2015 at 12:33AM by Peter__R http://bit.ly/1YDWKYD

Bitcoin Price Inching Further Up - Driving The Bulls Around The Bend?

http://bit.ly/1RhntYJ via /r/CryptoCurrency http://bit.ly/1Ssp9Nq

Bleutrade to host TrollCoin TRL to TROLL swap starting Dec 1

http://bit.ly/1NYRVkT via /r/CryptoCurrency http://bit.ly/1IkqaXq

Need a domain name for your crypto-currency / project?

In the spirit of unabashed consumerism / cyber monday, I thought I'd post to see if anyone here is interested in purchasing one of the many crypto domain names I registered a while back. Here's what I've got. DM with offers (accept BTC).Generic:buystuffwithbitcoin.com, buythingswithbitcoin.com, coincheetah.com, coinengineer.com, cointsunami.com, shiberoad.comAlt coin names:lynxcoin.com, lynxcoin.org, quartzcoin.com, quartzcoin.org, hawkcoin.com, hawkcoin.org, coltcoin.com, coltcoin.org, pumacoin.com, pumacoin.org, tsunamicoin.com, zinccoin.com, cougarcoin.com, leopardcoin.com, crucialcoin.com, leopardcoin.comAlso - I'm a freelance designer so down to help with putting together the full brand for any of these - or just in general, if folks are looking for help. via /r/CryptoCurrency http://bit.ly/1IkqaXn

Greek Banks Asked To Pay Bitcoin Ransom

http://bit.ly/1Xs8PTA via /r/CryptoCurrency http://bit.ly/1lq9qDI

IMF likely to name China's yuan a reserve currency

http://on.mktw.net/1l1yEZx

Submitted November 30, 2015 at 02:28PM by adamavfc http://bit.ly/1TmFKTK

Bitcoin dev IRC meeting in layman's terms (2015-11-26)

Once again my attempt to summarize and explain the weekly bitcoin developer meeting in layman's terms.Link to last weeks summarizationNote that I crosspost this to Voat, bitcoin.com and the bitcoin-discuss mailing list every week.DisclaimerPlease bear in mind I'm not a developer and I'd have problems coding "hello world!", so some things might be incorrect or plain wrong.Like any other write-up it likely contains personal biases, although I try to stay as neutral as I can.There are no decisions being made in these meetings, so if I say "everyone agrees" this means everyone present in the meeting, that's not consensus, but since a fair amount of devs are present it's a good representation.The dev IRC and mailinglist are for bitcoin development purposes. If you have not contributed actual code to a bitcoin-implementation, this is probably not the place you want to reach out to. There are many places to discuss things that the developers read, including this sub-reddit.link to this week logsMeeting minutes by meetbotMain topics discussed where:CLTV activationBIP68/BIP112 implementationReplace-by-feeShort topics/notesIt was an American holiday (thanksgiving), so there weren't a lot of people in the meeting, which started later as well.Personal note: My weekly posts are being read by more people than I ever anticipated and people are expecting these to come weekly.Next year starting Mid-February I'll be on vacation for a month, so that's 4 or 5 meetings I won't be able to do.If there's anyone who's up for the challenge to take over during those weeks (or maybe just 1 week and share the load with others) feel free to pm me.I'm announcing well in advance, so there's more chance to find someone and to not make this a last minute thing.I'd prefer someone who doesn't work in the bitcoin space (coding), as I much rather have people work on the future of money instead of enlightening us noobs :)CLTV activationbackgroundCheckLockTimeVerify (CLTV) aka "how you thought nLockTime worked before you actually tried to use it" aka OP_HODL.meeting commentsIt's plausible the CLTV softfork will activate within just a few weeks, as everyone but a few big miners have adopted it.About 20% of the nodes currently run CLTV-supporting versions. The negative effect of not upgrading is a degraded validation (SPV).meeting conclusionDo a social media reminder to upgrade nodes to v0.11.2/v0.10.4BIP68/BIP112 implementationbackgroundBIP 68 Consensus-enforced transaction replacement signaled via sequence numbers , and current implementation.BIP 112 CHECKSEQUENCEVERIFY, and current implementation.In short: BIP 68 changes the meaning of the sequence number field to a relative locktime. BIP 112 makes that field accessible to the bitcoin scripting system.meeting commentsThe BIP68 and BIP112 texts have been updated to match the implementations.There's been a call and discussion to rename CHECKSEQUENCEVERIFY on the mailinglist.btcdrak wants both pull-requests to be merged soon, others feel more hesitant as people seem to only recently started looking at it seriously.meeting conclusionMerge updated BIP-textsReplace-by-feebackgroundCurrently when a node sees a transaction that spends the same output it ignores it. With replace-by-fee it replaces the current transaction in the mempool if it has a higher fee.This allows for things like spending "stuck" transactions, adding more recipients to a transaction in order to prevent chaining, etc.Since there are people that accept 0-confirmation transactions and this would make it extremely easy to double spend them, this is made opt-in.The sender can choose to opt-in to replace-by-fee by changing the nSequence field of all inputs.This is a mempool policy for the upcoming 0.12 release. There's a good FAQ-ish post on reddit about it.meeting commentspetertodd ran some tests with the mempool limiter turned way down and saw no issues.It should be technically easy to merge first-seen-safe and full-unconditional as options if there's people who want to write it in.meeting conclusiontest and ACK replace-by-fee (Has been merged meanwhile).Participantsbtcdrak btcdrak petertodd Peter Todd Luke-Jr Luke Dashjr CodeShark Eric Lombrozo sipa Pieter Wuille jtimon Jorge Timón Comic relief19:17 btcdrak wumpus: so no meeting today then? 19:17 CodeShark btcdrak: so no wumpus today then? :) 19:17 petertodd btcdrak: since when do you listen to authority? :P 19:22 CodeShark is there a quorum? or can we meet anyhow? :) 19:22 petertodd CodeShark: I'm in a mcdonalds right now, working on increasing my influence, as measured by mass... 19:22 petertodd CodeShark: so yes 19:49 btcdrak ### 10 minutes left. are there any other topic suggestions? 19:50 petertodd btcdrak: rbf 19:50 btcdrak #topic RBF 19:51 CodeShark anyone have a topic that pays a higher fee? :) 19:51 Luke-Jr this fee is too low, I'm leaving early! 19:24 btcdrak #meetingstart 19:24 btcdrak #startmeeting 19:24 lightningbot Meeting started Thu Nov 26 19:24:40 2015 UTC. The chair is btcdrak. Information about MeetBot at http://bit.ly/1iNUX2M. 20:00 btcdrak #endmeeting 20:00 btcdrak #meetingend 20:00 btcdrak oh ffs, not this problem again 20:00 lightningbot Meeting ended Thu Nov 26 20:00:24 2015 UTC. Information about MeetBot at http://bit.ly/1iNUX2M . (v 0.1.4) via /r/Bitcoin http://bit.ly/21oTgeT

The Ledger Blue is available now in PRE ORDER for DEVELOPERS ONLY (shipping late January 2016)

Ledger Blue Developer EditionThe Ledger Blue is a personal lightweight mobile device architectured around a ST31 secure element, featuring a touch screen and USB/NFC/BLE connectivity. This is a developer edition available in PRE ORDER with a delivery scheduled in late January 2016.Main featuresST31 Secure Element, STM32 MCU320x480 touch screenBLE 4.1, NFC, USB 2.0 FS500mA lithium ion rechargeable batterydeveloper friendly: low level API (for embedded apps) and high level API (for client apps)Main native apps:HD hardware wallet (BIP39, BIP32, BIP44), compatible with the Ledger Wallet Chrome app and upcoming Ledger Wallet Android & iOS appFIDO authentication (Hardware 2FA for Google, Github, Dropbox...)PGP toolsExample of apps to develop:Slack channel encryption (through the Chrome app)Keybase integration for in-device secure signature & encryptionTrading & Financial orders second factor confirmationBlockchain apps (validation & confirmation of digital assets transactions)Passwords vault "master password" integration...LinksLedger Blue page on ledgerwallet.comGithub repository (empty for now)Ledger Blue brochure, PDF formatVideo of Mycelium integration demonstrationThe Ledger Blue Developer Edition is an early access unit which will be shipped late January 2016. It is intended for developers and enthousiasts only: the device will require numerous firmware updates and won't be delivered with an "out of box" onboarding. The casing will be most probably 3D printed and will therefore not match the quality and design of the definitive version.We have already produced a dozen beta units and the hardware is fully validated. The production of the developer units is scheduled to be ready in January, and everything will be shipped from our factory in France where the Blue is assembled. We target a production release Q2 2016.The price of the Developer Edition is 199 EUR (+ VAT if you are in Europe). We give you a 15% discount with the code BLUE15, so your price will be 169 EUR. The discount is limited in time, so if you want to order please to do before December 15th.To pre-order a Ledger Blue Developer Edition (shipping late January 2016), please follow this link, add the Blue to the cart and checkout (the Ledger Blue is hidden on our website and requires a direct link to see it).Our team is available to answer all your questions here. via /r/Bitcoin http://bit.ly/1IvKvUo

Bitcoin community in Brasil is growing quickly. Check this Facebook group with 15,000 members [Tuur Demeester on Twitter]

https://twitter.com/TuurDemeester/status/671325445909028864 via /r/Bitcoin http://bit.ly/1IvKtMu

Just found out I have free electricity at my school!!! Crazy! Anyways anyone wanna share there experiences with mining with free electricity?

With the luck of finding the block on your own (Stupid joke I Know) The head my school says I can mine on campus without paying electricity costs!

Anyways Anyone wanna share there experiences similar to this one? Now it makes sense to buy a ton of s3 when I have the money cause I don't care about efficiency and there wayyyy cheeper then new asic miners.

YAYYYYYY

Submitted November 30, 2015 at 10:39PM by 1fabunicorn http://bit.ly/1OzPxny

Before the end of 2016, a countries central bank will officially add bitcoin to their basket of reserve assets. Inevitability in action.

The same phenonemon that naturally took place over the past 5 years with individuals is about to take place with central banks asset reserves. Once the first central bank makes the move, the game is on, and what central bank on the planet would want to risk getting left behind on the train that could completely destroy their countries balance sheets if it succeeds.

Kudos Barbados! Lead the charge!

Submitted November 30, 2015 at 04:47PM by slvbtc http://bit.ly/1NXvyMT

Bitstamp will switch to BIP 101 this December.

http://bit.ly/1PVKoJC

Submitted November 30, 2015 at 06:21PM by kostialevin http://bit.ly/1lpwAKs

Community-Currency

http://bit.ly/1IjRmpn community currency template with zero reserve mutual credit and adjustable parametersPurposeThis is not intended to be a global currency. It is intended to become an ecosystem of community currencies using this template, each of them with different parameters according to the needs of each community.The type of community we mean is local communities (for example a municipality) or communities with charitable, service, participatory or empowering orientation, that run mixed economies with free market combined with community public budget and public redistributive works. Examples can be local authorities, social movements associations, social economy businesses, workers unions, etc. It includes therefore an (optional) taxation function. Each community is supposed to name their currency with a different name.Currency Governance and monetary decission processWe decouple the contract running the decission process in a supposed DAO and the currency contract running the monetary mechanics. The DAO may use whatever more or less traditional or more or less innovative democracy to take decissions.The community is supposed to be managed by a DAO at ethereum or outside ethereum, or just run by a DAO using handwritten notebooks or any eGovernance software. The currency contract does not cover how the DAO is managed, the votings and decision mechanisms.Once the DAO has taken the main monetary decissions it passes the wished parameters to the currency contract through the two accounts allowed to change the settings of the currency: the treasury account and the community account. At creating the currency contract you may set who they are.The currency desing presumes that all monetary decissions of the community are implemented through two trusted accounts: * the treasury account. Creates the currency, sets the basic parameters and deploys it to the blockchain. It can mint and assign amounts of CCUs (Community Currency Units). * the community account. Admits or kickouts members. It can mint and assign amounts of Reputation. Users making a transfer can be anybody having an ethereum account. Members, additionally, can authorize credits to other members. Anybody, including Members, may have different ethereum accounts. The community is supposed to have external mechanisms to establish the identity of a person, and therefore establish which of his accounts this person prefers to use as the unique account as member.BackgroundWhat the hell is p2p credit at DESPERADOS THEORY blogMoneda con pagos y creditos p2p sin reserva at DESPERADOS THEORY blogApuntes sobre la soberania monetaria at Instituto de la Moneda SocialThe design has been strongly inspired on the paper Notas para una propuesta de dinero-crédito descentralizado y basado en la reputación presented at the III Conferencia Internacional de Monedas Complementarias, 28 de octubre de 2015 Salvador de Bahía. The paper reflects the experience of the complementary currency EUROCAT in Catalunya.It builds as well on the analysis made by the EU/FP7 project [D-CENT: Freecoin Toolchain Design and application to Pilots](www.dcentproject.eu) about the funcional requirements of the EUROCAT currency: Design of Social Digital CurrencyGeneralThe currency is supposed to be used within a community. Nevertheless, the currency can be used by anybody having an ethereum account to perform standard payment transactions. Whith regards payments it works as any other free market monetary token. Nevertheless, anybody using the currency pays a VAT for every transaction to the community, but no other taxes.Within the community, the members have additional obligations and benefits. They can be endorsed with Trust by peer members to get credit lines.p2p CreditsMembers have a Reputation as "Money Lenders". Members can authorise a p2p Credit to another member, with a deadline. Its up to the Money Lender to investigate the borrowers solvency. No algorithm is provided within the currency contract to analyze the solvency. Just an activity indicator.Once the credit is approved the system generates the necessary Community Currency Units and adds them to the CCUs balance of the borrower. The Money Lender pays with a reputation cost measured in endorsed Units of Trust. The Units of Trust needed to endorse the credit is proportional to the amount and the time of the credit.When the deadline is over: * if the credit has been returned, and the balance of the borrower is again positive, the Money Lender gets back the Reputation Cost and a reward in Reputation. In the future he will be able to authorize larger credits. * if the credit has not been returned, and the balance of the borrower is still negative, the Money Lender loses the Reputation Cost and a fine in Reputation. In the future he will be able to authorize only smaller credits. The borrower gets the account blocked until the debt is covered by future incomes. The Community has the option to kick this member out.Adjustable Parameterstreasury; the address of the treasury of the DAO. The creator and minter of the currencycommunity; the address of the Community account. Where donations and taxes are paid. Account used to pay community worksvatRate; the depreciation at each transaction. The VAT to be paid to the DAO at the community account. % x 100demurrage; a periodic depretiation on the monetary assets. Not used. Judget as unwantedrewardRate; reward Rate to the moneyLender of a successful credit, as a multiplier of the Reputation Cost of the credit. % x 100iniMemberCCUs; intitial Community Currency Units given to any new member. The monetary mass is automatically increased with any new member. By default, the total monetary mass is proportional to the number of membersiniMemberReputation; initial Reputation given to any new memberIndicatorsEach account has an activity indicator showing the average GDP it is moving. It is using the basic monetarist formula of M x C average over time. In practice gdpActivity = AVERAGE (payment/timeDelta)The to-be money lender can access this indicatorThe community can access this indicatorHowever, the indicator is not used mechanically to take any decission through an algotiyhm, for example authorize a credit. We assume always a human intermediation to interpretate the results.FunctionsacceptMemberthe community account can accept accounts as membersa community can opt to name the community account as member or not and therefore give credits or not from that accountkickOutMemberthe community acount can kick out membersnewParametersthe treasury account can change the currency parametersmintAssignCCUsthe treasury account can issue as much communityCurrency it likes and send it to any Memberwarning: it increases the monetary massmintAssignReputationthe community account can issue as much Reputation it likes and send it to any Membertransfermake a payment: anybody can make a payment if he has sufficient CCUs and / or creditevery payment will update the credit statuscreditonly members can authorize or get a creditmonitorWalletif you are authorized it gives you the account data. The community account has access to all accounts - _communityCUnits- _credit - _deadline - _moneyLender - _reputation - _unitsOfTrust - _isMember - _last - _gdpActivityaccessMyWalletauthorize monitoring my wallet to a particular account. Normally, the authorization to monitor own accounts is given to a candidate money lender. During a credit, only the money lender and the community have access. via /r/CryptoCurrency http://bit.ly/1MZscJe

Barbados is Recommended to Use Crypto Money as Reserve Currency

http://bit.ly/1YDd0ZH via /r/CryptoCurrency http://bit.ly/1XrKAEZ

Nxt’s upcoming 1.7 release featuring Coin Shuffling, Singleton Assets, Account Control and an improved forging algorithm

http://bit.ly/1YDd0Jp via /r/CryptoCurrency http://bit.ly/1XrKyNr

Digital Currency Is Slowly Winning The Popularity Contest

http://bit.ly/1QPpgVF via /r/Bitcoin http://bit.ly/1NY3Y1Z

When the next war comes, put all your money into bitcoin, that way we can starve the war machine while it eats itself.

http://bit.ly/1TnztqF via /r/Bitcoin http://bit.ly/1PnGI3x

2013 paper: "Bitcoin reserves can protect small nations against currency attacks" http://ow.ly/VeZbX (re: Barbados)

http://bit.ly/1Op1Ch5

Submitted November 30, 2015 at 08:49AM by dtuur http://bit.ly/1ItvBhD

Exclusive Interview with Bitwage President and Founder Jonathan Chester

http://bit.ly/1NXX8tl via /r/CryptoCurrency http://bit.ly/1QPg6Zh

Walking through Geneva train station, I've notice someone's been playing around..

http://bit.ly/1PnwAaZ via /r/Bitcoin http://bit.ly/1Nijqp9

BIP65 is 66% on the way to first activation threshold, UPGRADE your full-node today to Bitcoin Core 0.11.2

http://bit.ly/1QPg0Rg via /r/Bitcoin http://bit.ly/1NXX5xy

1 bitcoin only$285? someone know it?

http://bisbury.com/ via /r/CryptoCurrency http://bit.ly/1Nijq8k

Can Drivechain make bitcoin sidechains a reality?

http://bit.ly/1jtowXE via /r/CryptoCurrency http://bit.ly/21oxnw7

Please help! I'm new to Bitcoin, and i'd like advice on how my family can use it to avoid using Western Union!

We live in the US and my sister lives in Israel. I'm looking for the simplest way that we can send/ she can receive money. She's not terribly tech savvy and my parents are not tech savvy at all, so please keep that in mind. Ideally, i'd like to be able to easily convert dollars into Bitcoin to send to her and then have her be able to convert the Bitcoin into shekels.

Submitted November 30, 2015 at 07:56AM by Spageous http://bit.ly/1NCKcPc

Provable market data - bitcoin liquid index now on the blockchain

http://bit.ly/1jtdJwD via /r/CryptoCurrency http://bit.ly/1HzBI9n

Bitstamp will switch to BIP 101 this December.

http://bit.ly/1PVKoJC via /r/Bitcoin http://bit.ly/1lpwAKs

Opt-in RBF Is misunderstood -- Ask questions about it here

No text found

Submitted November 30, 2015 at 06:12AM by tytyty_ http://bit.ly/1lTtxuw

Before the end of 2016, a countries central bank will officially add bitcoin to their basket of reserve assets. Inevitability in action.

In the same way, and for the same reasons as it is smart for an individual citizen to hold a small amount of bitcoin. It is more so the case for central banks to hold a small amount as part of their reserve assets.The same phenonemon that naturally took place over the past 5 years with individuals is about to take place with central banks asset reserves. Once the first central bank makes the move, the game is on, and what central bank on the planet would want to risk getting left behind on the train that could completely destroy their countries balance sheets if it succeeds.Kudos Barbados! Lead the charge! via /r/Bitcoin http://bit.ly/1NXvyMT

IMF likely to name China's yuan a reserve currency

http://on.mktw.net/1l1yEZx via /r/Bitcoin http://bit.ly/1TmFKTK

Sunday, 29 November 2015

What's the most decentralized currency and why?

No text found via /r/CryptoCurrency http://bit.ly/1Ij5rn2

Singapore Prime Minister: "Banks Must Take Advantage of Technologies like Bitcoin"

http://bit.ly/1Ij5qPZ via /r/CryptoCurrency http://bit.ly/1LI127P

Negative interest rates in Switzerland have started a bizarre debate among economists over whether cash should be abolished

http://bit.ly/1Ij5qPY via /r/CryptoCurrency http://bit.ly/1LI13IW

Two years ago today, 1 BTC (Bitcoin) reached it's highest value ever being valued at $1145.

No text found

Submitted November 30, 2015 at 10:44AM by Space_Droid http://bit.ly/1YCpfpl

Block erupter tube

So I can get a blockerputer tube 850GH/s for $50 CAD. The only problem is I don't know a good power supply to get for it as the seller doesn't have one. Any suggestions? It needs 4pci-e connectors but runs best with 8.

Submitted November 30, 2015 at 02:55PM by TheWalter_White http://bit.ly/1lpbUCn

Russia's Finance Ministry Wants to Ban Bitcoin, Not the Blockchain

http://bit.ly/1Tmwij0 via /r/CryptoCurrency http://bit.ly/1ND3sw2

/r/Bitcoin FAQ - Newcomers please read

Welcome to the /r/Bitcoin Sticky FAQMaybe you're here because you've received a tip on social media, or maybe you've just been hearing a lot recently about Bitcoin and are wondering what the big deal is? The following videos are a good starting point for understanding how bitcoin works and a little bit about its long term potential:Video 1: What Is Bitcoin & Why Should You Care?Video 2: The real value of bitcoin and crypto currency technologyVideo 3: Bitcoin Is Independent MoneyVideo 4: Bitcoin 101 - Balaji SrinivasanFor lots of additional video resources check out the videos wiki page or /r/BitcoinTV . Peer-reviewed, research papers can be found here and here. Developer resources can be found hereWhere can I buy bitcoins?You can buy or sell any amount of bitcoin and there are several easy methods to purchase bitcoin with cash, credit card or bank account. A good list of exchanges sorted by region can be found on the exchanges wiki here.Note: Bitcoins are valued at whatever market price people are willing to pay for them in balancing act of supply vs demand. Unlike traditional markets, bitcoin markets operate 24 hours per day, 365 days per year. Here are a couple useful sites [bitkoin.io, preev.com] that shows how much various denominations of bitcoin are worth in different currencies. Alternatively you can just Google "1 bitcoin in (your local currency)".Securing your bitcoinsWith bitcoin you can "be your own bank" and personally secure your bitcoins OR you can use established companies which have secured wallets where they hold the bitcoins for you and provide insurance.If you prefer to let bitcoin banks manage your coins, try Coinbase or Circle.If you prefer to "be your own bank" and have direct control over your coins without having to use a trusted third party, there are many software wallet options here and here. If you prefer easy and secure storage without having to learn computer security best practices, then a hardware wallet such as the Trezor, Ledger, Case Wallet, or KeepKey is recommended.Note: For increased security, use Two Factor Authentication (2FA) everywhere it is offered, including email!2FA requires a second confirmation code to access your account, usually from a text message or app, making it much harder for thieves to gain access. Google Authenticator and Authy are the two most popular 2FA services, download links are below.Google AuthenticatorAuthyAndroidAndroidiOSiOSTippingUse ChangeTip.com (/r/changetip) for tipping people on Facebook, Reddit, Twitter, YouTube, Tumblr, Google+, GitHub, Slack and more! (you can even use custom monikers to tailor your tip to the discussion or add a bit of humor). Read more about ChangeTip at their reddit wiki.Go to /r/FreeBits to get a few bits to practice with and then tip them forward. Go to /r/BitTippers to play games and solve riddles to earn your bits. Don't forget your flair!Where can I spend bitcoins?StoreProductMicrosoftXbox games, phone apps and softwareSpendabit and The Bitcoin ShopSearch engines of online retailers accepting bitcoin with millions of resultsOverstock and RakutenEverything under the sunGyftGift cards for hundreds of retailers including Amazon, Target, Walmart, Starbucks, Whole Foods, CVS, Lowes, Home Depot, iTunes, Best Buy, Sears, Kohls, eBay, GameStop, etc.NewEgg, TigerDirect and DellFor all your electronic needsExpedia, Cheapair, Lot, Destinia, BTCTrip, Abitsky and 9flatsFor when you need to get awayBoltVMVPS serviceNamecheapFor new domain name registrationCryptostorm, Mullvad, and PIAVPN servicesFoodler and TakeawayTakeout delivered to your door!HumbleBundle, GreenmanGaming, and Coinplay.ioFor when you need to get your game onReddit GoldPremium membership which can be gifted to othersShipnikDiscounted USPS Priority & Express mail postageCoinmap and AirBitz are helpful to find local businesses accepting bitcoins. UK residents can find a comprehensive directory of shops, pubs, websites and other places in the UK that accept bitcoins at wheretospendbitcoins.co.uk.There are also lots of charities which accept bitcoin donations, such as Wikipedia, Red Cross, Amnesty International, United Way, ACLU and the EFF. You can find a longer list here.Additional resources can also be found at TheBitcoinPage.comMerchant ResourcesThere are several benefits to accepting bitcoin as a payment option if you are a merchant;1-3% savings over credit cards or PayPal.No chargebacks (final settlement in 10 minutes as opposed to 3+ months with credit cards / PayPal).Accept business from a global customer base.Increased privacy for your customers.The payment processor can convert 100% of the sale to the currency of your choice for deposit to your account which means there is no need to hold bitcoins and no exposure to price volatility. Alternatively, you can choose to keep a certain percentage of the sale in bitcoin if you wish to begin accumulating it.If you are interested in accepting bitcoin as a payment method, there are several options available;BitpayCoinbaseCoinifyCoinkiteSnapcardGoCoinBitMerchantCan I mine bitcoin?Mining bitcoins can be a fun learning experience, but be aware that you will most likely operate at a loss. Newcomers are often advised to stay away from mining unless they are only interested in it as a hobby similar to folding at home. If you want to learn more about mining you can read more here. Still have mining questions? The crew at /r/BitcoinMining would be happy to help you out.If you want to contribute to the bitcoin network by hosting the blockchain and propagating transactions you can run a full node using this setup guide. You can view the global node distribution here.Earning bitcoinsJust like any other form of money, you can also earn bitcoins by being paid to do a job./r/Jobs4BitcoinsCoinality job boardBitgigs job boardFind Bitcoin JobsYou can also earn bitcoins by participating as a market maker to allow users to perform CoinJoin transactions with your bitcoins for a small fee (requires you to already have some bitcoins)JoinMarketFundraisingYou can use Lighthouse to crowdsource fundraising initiatives with bitcoin. It's similar to Kickstarter, but without intermediaries or exorbitant fees. You can participate in project discussions at /r/LighthouseProjects, and watch the progress of fundraisers at lightlist.io.Bitcoin ProjectsHere is a short list of ongoing projects that might be worth taking a look at if you are interested in current development in the bitcoin space.Bitcoin UnitsOne Bitcoin is quite large (hundreds of £/$/€) so people often deal in smaller units. The most common subunits are listed below:UnitSymbolValueInfomillibitcoinmBTC1,000 per bitcoinSI unit for milli i.e. millilitre (mL) or millimetre (mm)microbitcoinμBTC1,000,000 per bitcoinSI unit for micro i.e microlitre (μL) or micrometre (μm)bitbit1,000,000 per bitcoinColloquial "slang" term for microbitcoinsatoshisat100,000,000 per bitcoinSmallest unit in bitcoin, named after the inventorFor example, assuming an arbitrary exchange rate of $500 for one Bitcoin, a $10 meal would equal:0.02 BTC20 mBTC20,000 bitsIf you want to use 'bits' exclusively, just remember that there are 100 satoshis in 1 bit, and 1 million bits in one bitcoin. For more information check out the Bitcoin units wiki.Still have questions? The friendly folks at /r/BitcoinBeginners would be happy to help you out, or stick around for our weekly Mentor Monday thread. If you decide to post a question in /r/Bitcoin, please use the search bar to see if it has been answered before, and remember to follow the community rules outlined on the sidebar to receive a better response. The mods are busy helping manage our community so please do not message them unless you notice problems with the functionality of the subreddit. A complete list of bitcoin related subreddits can be found hereNote: This is a community created FAQ. If you notice anything missing from the FAQ or that requires clarification you can edit it here and it will be included in the next revision pending approval.Welcome to the Bitcoin community and the new decentralized economy! via /r/Bitcoin http://bit.ly/1heybAC

Purse.io and Amazon Account Shutdown

A short note to say that the person who was selling to me on Purse.io messaged me to say that their account was shutdown by Amazon. I still received the goods. So that is 1 out of 6 orders that I've made.I don't mean to attack Purse as I think there is still a lack of evidence as to whether they are a legitimate business or are accidently promoting credit card fraud.It would be interesting if Purse revealed how many of their sellers have lost their Amazon account. Would Purse know this information? via /r/Bitcoin http://bit.ly/1NkE4cn

Can you daisy chain Antminer cards into one chasis?

I have a few S3 and S5's and I see people linking these together but not really sure how they are doing that and how they work the power out? Is there a guide or can someone give me a run down on it?

Submitted November 30, 2015 at 10:31AM by ucskater http://bit.ly/1PmlCm6

BW introduces the B12 Hash Investment powered by the world's first 14nm miners!

http://bit.ly/1PmlCCB

Submitted November 30, 2015 at 10:44AM by BitBankRoller http://bit.ly/1XC6UGP

Stuck transactions

EDIT: The Bitcoin network is currently under a sophisticated DoS attack using the "fake sigOp" method...

However, most blocks are far from being full, they do not even reach arbitrary limits set by miners. For example, you can see block #385917, mined by a KnCminer, having size 912 KB, and the next block #385918 is only 487 KB. So we see that KnCminer is OK with mining blocks as big as 912 KB, but found only 487 KB of worthy transactions.

Thus we can conclude that some anti-spam filtration measures are on, but what are they?

I think we might benefit if miners state the policies they are using, as it gives wallet developers a chance to change the way they make transactions, or at least warn users if transaction won't be confirmed soon

I just got a transaction confirmed after 4 hours of waiting. It wasn't a low-fee transaction: it paid about 20 satoshi per byte, which is twice the default fee rate. I think I know why it was delayed: it had an output which is only 3400 satoshi, which is only slightly above dust threshold, perhaps it made transaction look spam-like.

It's frustrating that miners' policy is so opaque. Let's look at block #385927, which is mined by F2Pool. It is 340 KB in size, which is smaller than other blocks recently mined by F2Pool, so we know it didn't reach the block size F2Pool set. No block explorers I'm aware of show transaction fee distribution for a specific block, so we have to do this manually. However, we can take advantage of the fact that Bitcoin Core sorts transactions by fee rate, thus if F2Pool uses block constructor based on it we will see this pattern.

5 of the last 7 transactions in the block pay almost exactly 20 satoshi per byte, so this seems to be a cut-off rate. The last two pay less than that rate, however, they coalesce many outputs, so it might be a result of prioritization.

The question I have is why do we have to learn about it through guesswork, aren't miners themselves interested in Bitcoin being a reliable payment system?

It's hard to figure out what the fuck they want from us even using fairly sophisticated statistical tools.

Submitted November 30, 2015 at 04:24AM by killerstorm http://bit.ly/1lSXR8u

Love song for Satoshi Nakamoto Whitepaper

https://youtu.be/eqxNbGvNamY

Submitted November 30, 2015 at 06:05AM by naomibrockwell http://bit.ly/1Q6Ydn8

Opt-in RBF Is misunderstood -- Ask questions about it here

No text found via /r/Bitcoin http://bit.ly/1lTtxuw

best site for bitcoin

http://bit.ly/1OpbHuC via /r/CryptoCurrency http://bit.ly/1jsyUPq

Two years ago today, 1 BTC (Bitcoin) reached it's highest value ever being valued at $1145.

No text found via /r/Bitcoin http://bit.ly/1YCpfpl

Who uses 0-conf transactions?

Honest question, there it a lot of talk about how opt-in replace by fee breaks 0-conf transactions.

I have always thought that no one usages 0-conf transactions anyway because they are not safe but there seems to be a lot of outrage about it. All the exchanges/services I use use between 3-6 confirmations so yeah.

Who uses 0-conf transactions? If I could get a few links I would understand the outrage better.

Submitted November 29, 2015 at 10:09AM by bitmegalomaniac http://bit.ly/1XzQCOH

Who are the pioneers behind "Cryptcurrency"

who are some of the main theoretical minds behind cryptocurrency? via /r/CryptoCurrency http://bit.ly/1NWYlRx

2013 paper: "Bitcoin reserves can protect small nations against currency attacks" http://ow.ly/VeZbX (re: Barbados)

http://bit.ly/1Op1Ch5 via /r/Bitcoin http://bit.ly/1ItvBhD

Please help! I'm new to Bitcoin, and i'd like advice on how my family can use it to avoid using Western Union!

Most profitable coin to mine?

My friend and I were thinking about investing in a mining rig for some cryptocurrencies. Are there any that would be viable to invest in mining? We were thinking about dogecoin.Thanks. via /r/CryptoCurrency http://bit.ly/1NCKcPj

Paper Published by The Central Bank of Barbados Hodling Bitcoin as Foreign Reserves

http://bit.ly/1Q715jR via /r/Bitcoin http://bit.ly/1YCalzn

Love song for Satoshi Nakamoto Whitepaper

https://youtu.be/eqxNbGvNamY via /r/Bitcoin http://bit.ly/1Q6Ydn8

Stuck transactions

Some weird shit is going on right now: mempool size is above 10 MB total, with a total size of transactions paying at least the default recommended fee rate (10 satoshi/byte) being 8.5 MB. (Numbers from here). So there is definitely enough fee-paying transaction to fill several blocks with.However, most blocks are far from being full, they do not even reach arbitrary limits set by miners. For example, you can see block #385917, mined by a KnCminer, having size 912 KB, and the next block #385918 is only 487 KB. So we see that KnCminer is OK with mining blocks as big as 912 KB, but found only 487 KB of worthy transactions.Thus we can conclude that some anti-spam filtration measures are on, but what are they?I think we might benefit if miners state the policies they are using, as it gives wallet developers a chance to change the way they make transactions, or at least warn users if transaction won't be confirmed soonI just got a transaction confirmed after 4 hours of waiting. It wasn't a low-fee transaction: it paid about 20 satoshi per byte, which is twice the default fee rate. I think I know why it was delayed: it had an output which is only 3400 satoshi, which is only slightly above dust threshold, perhaps it made transaction look spam-like.It's frustrating that miners' policy is so opaque. Let's look at block #385927, which is mined by F2Pool. It is 340 KB in size, which is smaller than other blocks recently mined by F2Pool, so we know it didn't reach the block size F2Pool set. No block explorers I'm aware of show transaction fee distribution for a specific block, so we have to do this manually. However, we can take advantage of the fact that Bitcoin Core sorts transactions by fee rate, thus if F2Pool uses block constructor based on it we will see this pattern.5 of the last 7 transactions in the block pay almost exactly 20 satoshi per byte, so this seems to be a cut-off rate. The last two pay less than that rate, however, they coalesce many outputs, so it might be a result of prioritization.The question I have is why do we have to learn about it through guesswork, aren't miners themselves interested in Bitcoin being a reliable payment system?It's hard to figure out what the fuck they want from us even using fairly sophisticated statistical tools. via /r/Bitcoin http://bit.ly/1lSXR8u

Workers Who Travel Internationally Will Benefit from Bitcoin

http://bit.ly/1PlH3DV via /r/CryptoCurrency http://bit.ly/1jrWg7X

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