Gold collapsing. Bitcoin UP.


Well-Known Member
Aug 28, 2015
@Norway BTCC sitting on at ATH from (almost) the last 3 years right now. 5415

Something i've been watching for a few weeks now, the 5400 level on BTCC seemed quite formidable.

Finger in the air prediction. Now it's broken it's blue sky time, we'll see an attempt at 6000 very soon. :rolleyes:
Apart from the small bull trap ....Toot Toot. Just 2 weeks :bitcoin: :whistle:


Well-Known Member
Sep 29, 2015
@lunar Well predicted. I don't think any of the chinese exchanges have crossed the magical 6k yuan limit yet. But they are soooo close now....


Well-Known Member
Mar 13, 2016
5998CNY was the lastest high, but i prefer quoting USD

IMO we are at the "optimism" step in the investment emotional cycle.


Active Member
Dec 31, 2015
It seems this only requires that there be quite a few nodes, not that everyone run a node before the event. Because after a major Internet shutdown people will know at that time to obtain full node software and re-validate from genesis, for the obvious reasons. Am I missing something?
Perhaps you are. If you had been trusting in the integrity of the UTXO set, a restart dashes the entire database upon which you had been relying. You either revalidate from genesis, or you trust others to do so on your behalf.

What if there are no others?
we dont need a complete record, simply knowing who had what is enough!
How does everyone converge on a shared understanding in terms of who owns what?


Active Member
Aug 28, 2015
Teechan: Scaling Bitcoin with Secure Hardware

Another initiative from Emin Gün Sirer (/u/el33th4xor):

We have built and deployed the Teechan framework using Intel SGX on the Bitcoin network. Our experiments show that Teechan can achieve 2,480 transactions per second on a single channel, with sub-millisecond latency.

link to the draft white paper:

Justus Ranvier

Active Member
Aug 28, 2015
I'm becoming more and more convinced that there is a VC proxy war going on here over the Bitcoin blocksize, at least from the one side of it. There are way too many milquetoast people out there on twitter with totally mundane jobs in Bitcoin companies and organizations linked to the usual suspect small-block VC's who cheerlead segwit activating for no apparent reason. Like almost none of these companies will ever have any hope of making any money, so there must be some utility to the VC's as far as pay-for-play to be in the space.
VCs didn't start pouring money into Bitcoin to help Bitcoin - they did it to compromise and paralyze the development community.


Well-Known Member
Mar 13, 2016
How does everyone converge on a shared understanding in terms of who owns what?
first everyone has the whole blockchain, so everyone can compute what the UTXO should hash out to for any block height. no questions asked.

once we have this UTXO checkpoint we throw away all the history.

now everyone has a UTXO checkpoint and accumulates 10days of "real blocks", after 1440 blocks everyone computes another UTXO checkpoint and throws away all the history again.

no need to "converge" your node either is synced or not, can produce a UTXO or not. there is no ambiguity as to what the UTXO should hash out to, just like there is no ambiguity as to what is contained in the last 1440 blocks.

if you are a brand new node, (or maybe you've been offline and missed 300 blocks). you simply download the lastest UTXO checkpoint from other nodes, and make sure it hashes out to what every other node says the hash ought to be. ( maybe you can download this file in fragments from many nodes, downloading it in full from only 1 node might lead to a security hole )

i dont see a problem... no other node can try to fool me into downloading a bad UTXO checkpoint because the node checks its hash and makes sure its the same hash that everyone else is reporting. once the node is synced, it starts to compute and validate new "UTXO checkpoint hash" independently.

if you use a bad UTXO checkpoint your node will never compute the right hash for all subsequent "1440th block" and you'll fork off, but i'm sure it could easily be detected long before that.
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Active Member
Nov 8, 2015

I remember Mike Hearn (who actually wrote simple earlier payment channels that worked years and years ago) a long time ago very specifically talking about very similar ideas, using remote attestation and trusted elements for channels.

Per #Corelogic we immediately as a result know that Satan himself crafted this plan in conjunction with the CIA and GCHQ to destroy Bitcoin.