Wednesday 30 November 2016
92% of Millennials Do Not Trust Financial Institutions with Money Matters
What are Colored Coins?
Bitcoin service ordered to hand over two years of user records to IRS
Submitted December 01, 2016 at 06:23AM by youcancallmejoey http://bit.ly/2gzoNZ7
The cartoon ad for this subreddit is great
Judge Orders Coinbase To Comply with IRS John Doe Request
A thought experiment. Has anyone run the numbers on replacing space heaters with--perhaps underclocked--miners?
I just moved up north from Texas, and while I have gas heat included in my rent, I noticed a lot of places use space heaters that run up electric bills. We've also got my first winter while living outside of my home state, and man it's already as cold as it ever got back home.
As someone who knows some of the ins and outs of profitability calculation, but haven't mined or looked too deep into mining, I'm curious about one thing.
Has anyone run the numbers on efficiencies of most residential electric heating units compared to profit generation of miners used as a replacement?
Submitted December 01, 2016 at 11:29AM by Amperture http://bit.ly/2fGDGMx
(Texas and Illinois): direct buy/sell of BTC and crypto-crypto trading is not money transmission
Submitted December 01, 2016 at 06:14AM by iattp777 http://bit.ly/2g8j8ZF
I have made a Lightning FAQ – Feedback appreciated!
Q: What is the Lightning Network?
A: The Lightning Network is currently under development and will become a decentralized network that enables instant off-chain transfer of bitcoin between counterparties without the need of a trusted third party. The system utilizes bidirectional payment channels that consist of multisignature addresses. One on-chain transaction is needed to open a channel and another on-chain transaction will close the channel. Once a channel is open, value can be transferred instantly between counterparties, who are exchanging normal bitcoin transactions, but without broadcasting them to the bitcoin network. New transactions will replace previous transactions and the counterparties will store everything locally as long as the channel stays open.
Q: Is Lightning open source?
A: Yes, Lightning will be open source. Anyone can review the code just like the bitcoin code.
Q: Who owns and controls the Lightning Network?
A: Similar to the bitcoin network, no one will ever own or control the Lightning Network. The code will be open source and free for anyone to download and review. Anyone who wants will be able to run a node.
Q: Who is behind the Lightning Network?
A: Joseph Poon and Thaddeus Dryja wrote The Lightning white paper. Anyone who wants can contribute with the development of code. Blockstream currently has one employee who is dedicated to Lightning development
Q: Does the LN have its own “Lightning coins”?
A: No, that’s not how the LN works. The LN will be using real bitcoin transactions with actual bitcoins in them
Q: Is the LN dependent on consensus to be implemented?
A: No, the LN builds an additional layer on top of the bitcoin network and is therefore not dependent on consensus in the bitcoin network itself.
Q: I have heard that there will be some fees involved in the LN, who will be collecting those fees?
A: Potentially everyone who runs a Lightning-node. Example: Alice wants to send money to Carol, but Alice doesn’t have an open channel with Carol. But Alice has an open channel with Bob, and Bob has an open channel with Carol. Instead of opening a new channel with Carol, Alice can route the payment trough Bob: Alice - Bob - Carol. In this scenario Bob might take a small fee.
Q: Will there be any custodial risk in the Lightning Network? Do I have to trust anyone else to hold my money?
A: No, the system is not based on trust; you remain in full control of your money. If anything goes wrong you simply broadcast your state to the bitcoin blockchain and all your money is returned to you.
Q: Does the Lightning Network have its own blockchain?
A: No, Lightning is dependent on the bitcoin blockchain. On-chain bitcoin transactions are needed to open and to close “channels” between peers (nodes) in the system. Once a channel is open, bitcoin can be sent off-chain in both directions within the channel. The transactions inside a channel are real bitcoin transactions, but they are not broadcasted to the bitcoin network as long as the channel stays open. Instead those involved store the transactions locally. This enables instant transactions and a near unlimited capacity within a channel.
Q: Will there be any form of mining in the Lightning Network?
A: No, security is provided by the bitcoin miners in underlying bitcoin network
Q: Where can I find more information about Lightning?
Submitted December 01, 2016 at 02:05AM by ABrandsen http://bit.ly/2fEFw0i
Olaoluwa Osuntokun: "Amortizing Secure Computation with Penalties - A.K.A: secure+fair off-chain computation channels on top of Bitcoin.
(Texas and Illinois): direct buy/sell of BTC and crypto-crypto trading is not money transmission
Bitcoin service ordered to hand over two years of user records to IRS
Will lightning network be an alternative to accepting 0 confirmation transactions?
UK's Royal Mint and CME Group launching gold-backed blockchain assets
BitLendingClub/Loanbase shutting down immediately citing "regulatory pressure"
Samson Mow to Host AMA on 8btc about Scaling and SegWit
Submitted November 30, 2016 at 06:44PM by 8btccom http://bit.ly/2gx2LGG
Carleton University dealing with a Ransomware Outbreak asking for 39 Bitcoins
Submitted November 30, 2016 at 09:51PM by BitcoinistanRising http://bit.ly/2fLuCBp
India: Payday [12/01] chaos after note ban set to break out today, banks, ATMs may run dry soon
So what happens if Segwit doesn't get 95%?
Do they try again with a lower threshold? Do they write something better and try to get 95% consensus again? Is this plan written somewhere? If so, I can't find it.
Submitted November 30, 2016 at 10:41AM by watuba http://bit.ly/2gyIvVb
bitcoin trading at $790+ in Pakistan
bitcoin is trading at $790+ at http://bit.ly/2gFJzJM and http://bit.ly/2fLmmkU I guess the Demand in the sub continent is getting very real.
Submitted November 30, 2016 at 07:56PM by dmz241 http://bit.ly/2gFX4ca
I have made a Lightning FAQ – Feedback appreciated!
Spanish government will limit payments in cash to no more than 1.000 euros
Submitted November 30, 2016 at 11:00PM by bitentrepreneur http://bit.ly/2fLPo3H
R3 blockchain opens to all
Submitted November 30, 2016 at 06:16PM by _smudger_ http://bit.ly/2gIarX4
Spanish government will limit payments in cash to no more than 1.000 euros
The Ascent of Authoritarianism
Submitted November 30, 2016 at 02:10PM by btcrave http://bit.ly/2g5e8Fb
Carleton University dealing with a Ransomware Outbreak asking for 39 Bitcoins
Assuming I have quasi-unlimited free electricity, what is the best miner to get these days? I fully admit I haven't crunched the numbers in well over a year.
I feel like it must be still worth it today with free power to invest in the hardware. Is it even worth mining anymore as a small timer?
Submitted November 30, 2016 at 10:15PM by Canadian_Infidel http://bit.ly/2gJRJgw
Anthony Di Iorio , founder of the Canadian Bitcoin Alliance and other cryptocurrency initiatives, has joined the Toronto Stock Exchange as its new chief digital officer.
Reason TV: 3 Ways Bitcoin Is Promoting Freedom in Latin America
Submitted November 30, 2016 at 04:14AM by vakeraj http://bit.ly/2gVroA4
Bitcoin Core 0.13.1 SegWit signalling breaks through 30%
Submitted November 30, 2016 at 08:09PM by alistairmilne http://bit.ly/2fQlePU
"TumbleBit Server Classic ... in Dec." - Nicolas Dorier on Twitter
Submitted November 30, 2016 at 02:30AM by GibbsSamplePlatter http://bit.ly/2gTbZAb
Why are asics still so expensive even tho ROI is so long?
I have a few old machines left over but the prices (ebay) doesn't seem worth it at all.
Submitted November 30, 2016 at 09:03PM by sixt5 http://bit.ly/2gJD5Wz
4 year old saw something familiar today at the Culver City Mall Ca.
I'm fucked huh?
bitcoin trading at $790+ in Pakistan
Purchasing Bitcoins in Norway just got 10 times harder
Recently /u/bearhagen posted about how Bitcoins Norway enabled deposits to their platform using a popular mobile payment apps in Norway, Vipps. Cointelegraph later that day posted a poorly researched (as usual) article about the topic titled "Norway’s Largest Bank Favours Bitcoin, Simplifies its Purchase and Usage". The claims made by Cointelegraph are, as usual, complete bollocks and the piece seems more like a paid advertisement for Bitcoins Norway. It wouldn't surprise me if this was the case, given Bitcoins Norway's abysmal track record.
As pointed out by several users in the original thread and by me in the thread of the CoinTelegraph article, using Vipps for selling and buying of Bitcoin is prohibited by their TOS. The relevant section is "6.4 Rettmessig bruk" ("6.4 Allowed usage"). Search for "Bitcoin" on the page and you will see this:
Dersom du bruker Vipps på en måte som medfører risiko for hvitvasking av penger, for eksempel til kjøp og salg av Bitcoins, eller på en måte som oppleves som støtende eller sjikanerende for andre Vipps-brukere, for eksempel ved å sende upassende meldinger til andre brukere, kan DNB sperre din Vipps-profil.
Translated:
If you use Vipps in a way that involves a risk of money laundering, such as the purchase and sale of Bitcoins, or in a way that is perceived as offensive or harassing other Vipps-users, such as by sending inappropriate messages to other users, DNB may close your account.
As expected, Bitcoins Norway's accounts with Vipps have now been shut down as they are blatantly breaching its TOS. When searching for "Bitcoin" or "Bitcoins" in Vipps, there are no longer any results (Bitcoins Norway's accounts were visible in searches yesterday). Searching for the phone number they are proudly displaying on their website, 80461, also yields no results.
/r/Bitcoin: you got tricked, both by Bitcoins Norway and by CoinTelegraph.
Submitted November 30, 2016 at 06:14PM by dnivi3 http://bit.ly/2gI6eT9
Subvert your Ego
suggest any site to buy cheap bitcoin
Segregated Witness Adoption - reminder to update the node.
Submitted November 30, 2016 at 07:39AM by kynek99 http://bit.ly/2fB6B4u
We just launched a website that rewards users in bitcoin. Any feedback would be great.
Submitted November 30, 2016 at 06:42AM by rizzles http://bit.ly/2fAM3Jw
cloud mining fiat deposit
Are there any cloud mining services that allow you to make a deposit in fiat currency.
I want to buy cloud mining contracts using fiat not bitcoin.
http://bit.ly/2gJ430p is offering a cloud mining contracts but you can purchase the contract via btc only.
I don't care about an roi, all I want to do is convert my fiat into bitcoin without paying exchange fees and getting a really bad exchange rate. In Australia our exchanges have really low volumes and a huge buy and sell spread....
Submitted November 30, 2016 at 06:12PM by Spartan3123 http://bit.ly/2fCfX05
Samson Mow to Host AMA on 8btc about Scaling and SegWit
Bitcoin Core 0.13.1 SegWit signalling breaks through 30%
Bitcoin made The Simpsons intro! Sorry for the potato quality
Submitted November 30, 2016 at 07:18AM by sabina1100 http://bit.ly/2gHA5Ka
R3 blockchain opens to all
Purchasing Bitcoins in Norway just got 10 times harder
The Misconceptions about SegWit, a Heated Debate on 8btc
The Ascent of Authoritarianism
Tuesday 29 November 2016
Olivier Jans and the entire big block movement goes down in flames.
Repurpose antminer beaglebone board
I have a couple of old antminer s5 units.
Since it's pretty much pointless to keep them running now, I was thinking I could atleast salvage the beaglebone black control boards that come with them and use them for something else.
Anyone have any experience doing that? How do I power the board? How can u flash the firmware on it to install Linux or some embedded OS?
Thanks in advance!
Submitted November 30, 2016 at 02:59PM by 6brane http://bit.ly/2gEN2rJ
Segregated Witness Adoption - reminder to update the node.
Segwit = fungibility. Bitcoin needs it to be competitive with other more fungible cryptocurrencies before it's too late!
edit. and I mean enables more than equals.
Submitted November 29, 2016 at 10:44PM by BitcoinIsLiberty http://bit.ly/2gFeIcz
Bitcoin Mining isn’t totally unheard of on Global US Armed Forces Bases
Submitted November 30, 2016 at 12:12PM by JustinOConnell http://bit.ly/2gi6w4V
I hate my Bank (all banks really)
I did two $50k wire transfers yesterday for work. I drove to the bank, I waited for 40 minutes, I sat with a banker for 40 more minutes, I paid $60 in fees and the money hit the other accounts 8 hours later.
The entire time all I could think was, "If I just used bitcoin for this I could be home with me family right now."
I hate my bank :(
Submitted November 30, 2016 at 03:30AM by Edict_18 http://bit.ly/2fO8xoT
Japan megabanks conduct 1,500 transactions on the Bitcoin blockchain, more than current interbank system
Submitted November 30, 2016 at 02:13AM by trueprogrammer http://bit.ly/2fAbBqh
Bitcoin made The Simpsons intro! Sorry for the potato quality
We just launched a website that rewards users in bitcoin. Any feedback would be great.
Ross Ulbricht’s Lawyers Point to Another Corrupt Agent in Silk Road Case
Submitted November 30, 2016 at 03:57AM by CaptainMegaJuice http://bit.ly/2gT3YeC
Coin Center on the IRS Coinbase data filing: An overreaching fishing expedition that sets dangerous precedent
Submitted November 29, 2016 at 10:54PM by neerajka http://bit.ly/2gFxgud
Japan megabanks conduct 1,500 transactions on the Bitcoin blockchain, more than current interbank system
Lawyers say they've found signs of a third rogue cop tied to the Silk Road case
Submitted November 30, 2016 at 03:44AM by Onetallnerd http://bit.ly/2ggS90O
"TumbleBit Server Classic ... in Dec." - Nicolas Dorier on Twitter
Ross Ulbricht’s Lawyers Point to Another Corrupt Agent in Silk Road Case
I hate my Bank (all banks really)
Lawyers say they've found signs of a third rogue cop tied to the Silk Road case
Hacker holds San Francisco railway to ransom, demands 100 bitcoins
Submitted November 29, 2016 at 10:08PM by Coinosphere http://bit.ly/2gsYNyS
Adoption of Bitcoin by European merchants (animated map)
Submitted November 29, 2016 at 09:01PM by themetalfriend http://bit.ly/2fHYSga
For those who still think their private keys are safe
Submitted November 29, 2016 at 09:25PM by jankovize http://bit.ly/2gEuhBn
BTCC COO Samson Mow at FinTech event in Shanghai: supporting SegWit towards lightning network!
Submitted November 29, 2016 at 09:15PM by Calvinex http://bit.ly/2fMv59A
Home screen on every swiss train (SBB) ticketing machine
Submitted November 29, 2016 at 07:55PM by sirbtcch http://bit.ly/2g1CUpH
Segwit = fungibility. Bitcoin needs it to be competitive with other more fungible cryptocurrencies before it's too late!
Coin Center on the IRS Coinbase data filing: An overreaching fishing expedition that sets dangerous precedent
Credit Card Giant MasterCard Files 4 New Blockchain Patents
Hacker holds San Francisco railway to ransom, demands 100 bitcoins
Adoption of Bitcoin by European merchants (animated map)
Home screen on every swiss train (SBB) ticketing machine
Ernst & Young Switzerland Will Accept Bitcoin Next Year
Submitted November 29, 2016 at 01:52PM by castom http://bit.ly/2fwwmmt
For those who still think their private keys are safe
As India Demonetizes, Unocoin Launches Mobile App
Are bigger blocks on the road map?
BTCC COO Samson Mow at FinTech event in Shanghai: supporting SegWit towards lightning network!
I just realized that 5 days ago we hit an all time high on the network for confirmed transactions, 333,466!
Submitted November 29, 2016 at 10:58AM by Logical007 http://bit.ly/2grBViU
What should I do with 10 dollars a week on Bitcoin?
Fee's have normalized again at 11 cents. If this was "organic growth" then we would have seen a steady upclimb that sustained. Since it did not sustain, I think its reasonable to assume what we saw was another spam attack.
Submitted November 29, 2016 at 11:07AM by Cryptolution http://bit.ly/2fL0VUc
Hackers are demanding 10 percent of the account balances of Liechtenstein bank, to be paid in Bitcoin
Submitted November 29, 2016 at 06:21AM by MRDAT21 http://bit.ly/2gQrvwK
Ernst & Young Switzerland plans to enable bitcoin payments on January 2017. How do you think this will go for the firm?
I just realized that 5 days ago we hit an all time high on the network for confirmed transactions, 333,466!
Venezuela's currency now worth so little shopkeepers weigh vast piles of notes instead of counting them
Submitted November 29, 2016 at 08:46AM by quadrilliondollars http://bit.ly/2fZo5nD