Gold collapsing. Bitcoin UP.

[Richy_T]

lol, BCH's doing it right. these are times i regret staying away from things like this in an attempt to avoid bias :

Uh, whatever floats your boat, I guess.

 

[79b79aa8]

OP_RETURN FTW

 

[cypherdoc]

Wow there really is hope. If Rory Macdonald can grok BCH, we should be good :

 

[AdrianX]

I've just found another metric to track, It's how often this thread drops from the "NEW POSTS" box on the right.

 

[satoshis_sockpuppet]

https://blog.lightning.engineering/posts/2018/05/30/routing.html
https://archive.fo/gnlFi

Remember, if you don't run a full node you are not using Bitcoin. And the Lightning network won't use a hub model, it will be a decentralized mesh.

We at Lightning Labs believe that with the current protocol, routing on the network can scale to at least millions of users cheaply and reliably while enhancing user privacy and leveraging bitcoin’s decentralization and censorship-resistance.

Would you buy a car, that the engineers advertise with

We at BMW believe, that the steering wheel is connected to the steering column.

?

Looks like the Lightning lab has a problem with some people finally realizing, that the Emperor actually has no clothes.

 

[cypherdoc]

This is the fact of the matter and that why, for sure , partial payment of block rewards is not necessary. If devs feel a need to be compensated, invest in the coin itself and work hard as a vested participant to make it more valuable:

 

[Norway]

lol, BCH's doing it right. these are times i regret staying away from things like this in an attempt to avoid bias :

A guy at that party approached me and said "I know who you are." But he refused to say his name or moniker. Was that you, @cypherdoc ? Or @freetrader ? Or @Windowly ?

 

[freetrader]

Wasn't me @Norway

 

[79b79aa8]

@Jihan has been talking about bubble bursting on memo . . . wish he'd share deeper insights here.

 

[lunar]

^ I unfollowed that account. I'm not convinced it's genuine. Too Spammy for @Jihan

 

[79b79aa8]

hmmmm . . . i'm not convinced it's not, but let's ask for verification. thanks for the heads up.

 

[Mengerian]

I think it's not Jihan.

 

[79b79aa8]

fiat trading is being rolled out at bittrex. no USD/BCH for now, only coporate customers, and only a few states. but the roadmap is clear.

this is excellent, as fiat to crypto on-ramps in the US are still quite limited.

 

[Norway]

Wasn't me @Norway

Ha ha, it was a rethorical question. I don't expect anyone to answer. And there are many more candidates, lurkers etc.

I've seen this behaviour where people want to stay anonymous in bitcoin for many years, and they have a very good reason.

The main reason is that someone wants to take their money. It could be robbers or government.

In my country, people are supposed to report their hodlings to the government. The government say that info is kept secret and not made public.

But I think it's fair to not tell your local government about your bitcoin hodlings because there are always rotten apples working in the bureaucracy. They will give local mafia hodler-names if they are compensated.

Be your own bank means do your own security.

I have some old ideas about how this security should be handled without fortifying your house and keeping a bunch of guns around while being paranoid. I hope I or someone else do something about this situation in the future.

 

[Mengerian]

CNBC Article: A blockchain start-up just raised $4 billion without a live product

The company has already said it will spend $1 billion of its bounty recruiting developers, with billions more to hypothetically spend on lobbying global regulators and building relationships with banks.

So it seems Block.one will be selling a Billion dollars worth of Ether into the market. I'd imagine other ICO startups are doing similarly. This will create lots of downward price pressure.

 

[SPAZTEEQ]

Am I right in wondering why would the miners secure this? All commerce off chain and only nodes transact on chain. So does that mean the only miners would be the lightning node owners?

 

[awemany]

LN certainly becomes an interesting exercise in thinking about the core assumptions of Bitcoin, and why Bitcoin was decidedly not made like LN.

Specifically, I am wondering about punishment transactions: Due to the chaining nature of HTLCs, any double spend (which is totally possible, but might be disincentivized in LN) will invalidate all HTLCs building on this double-spend down the road.

Without trust, the Lightning network should allow me to become part of the system pseudonymously and easily and I can make a LN double-spend of 1 Satoshi and try to insert it into HTLCs which are reflecting state of the most important money routes in LN.

So what happens if this double spend becomes part of the hashed state of many HTLCs?

How is the double spend resolved?

What if the double spend is discovered only days (or weeks, months, years) after it has been made (or is done after months of LN history on top)?

Will the whole transaction history be ripped apart?


If not, will might make right and the more well-connected Lightning nodes assert what the state of the money system is?

EDIT: One might add here that this might seem unlikely now because participants might figure out in time that a double spend has happened. But what if the network centralizes into few nodes, the intermediary keeps track of whom they fooled, and channels are open indefinitely?

One contradicting double spend on the chain will be disastrous to the coherence of state on the LN past that, or am I mistaken?

EDIT#2: Brainfart ,does not work as HTLCs are only interdependent per payment.

 

[79b79aa8]

this site has interesting stats:

https://statocashi.info

 

[lunar]

Another one gets hit.

https://toshitimes.com/zencash-falls-victim-to-a-51-attack-with-550000-worth-of-tokens-stolen/

 

[cypherdoc]

i've been banging on this guy for years. turns out i was completely right:

[doublepost=1528129713][/doublepost]@lunar good
[doublepost=1528130790,1528129675][/doublepost]this can't be good:

https://news.microsoft.com/2018/06/04/microsoft-to-acquire-github-for-7-5-billion/
[doublepost=1528130913][/doublepost]just as a reminder to what happens to the UTXO set when tx fees are cheap given the recent Xapo consolidation attempts:

https://statocashi.info/d/000000063/unspent-transaction-output-set?refresh=10m&orgId=1&from=now-1y&to=now