Bitcoin mining difficulty retargets every 2016 blocks - will it successfully retarget the block size in 2016?
@drwasho Good luck pulling that off again next year…
@brian_armstrong Bitnodes changed how they count nodes a year or so ago; not sure if Addy can rebuild the data to match current methodology.
Two jumps in P2SH storage in 2015 suggest two entities, each holding over 1% of all bitcoins, moved their stashes. https://t.co/6H1ooZ4AYB
The percentage of bitcoins encumbered by P2SH increased from 5.9% to 9.6% in 2015. Total unique P2SH addresses increased from 55K to 1.98M.
Bulls always outnumber bears on /r/BitcoinMarkets, but bears have nearly gone extinct in 2015. pic.twitter.com/DmlAH45Crk
Average data propagation time to 50% of Bitcoin nodes.
Jan 2015:
Txn: 0.8s
Block: 4s
Dec 2015:
Txn: 0.8s
Block: 8s
Total blockchain size nearly doubled in 2015, growing from 26 GB to 51 GB.
The size of Bitcoin’s unspent output set doubled in 2015 from 16M to 33M outputs, adding a net additional output every 2 seconds.
The value of Bitcoin in terms of market cap (# bitcoins * exchange rate) increased by an average of $65 per second in 2015.
@OnWindowly It’s the difference between dozens (miners) and thousands (all nodes) of servers that need to be upgraded.
Bitcoin network security accelerated at an average rate of 14 GH/s^2 in 2015.
It takes 12 days for an ODROID-C1+ to sync the Bitcoin blockchain to height 390,000.
@mikestable @pandora_radio
Safe sex is great sex, better wear a latex
‘cause you don’t want that late text,
that “I think I’m late” text!
.@changetip, send @phillyhomeless a holiday meal ($1.95). /cc @martindale @ryanxcharles @desantis @PanteraCapital https://t.co/HoHpMXGtq2
Reachable Bitcoin node count dropped 13% in 2015, down to 5,460: https://t.co/n8bs3YSk1E
Core, noun: the central, innermost, or most essential part of anything.
One could argue it’s antithetical for Bitcoin to have a core.
Jim_Edwards BAML’s Michael Hartnett nails it in two charts and one funny caption. pic.twitter.com/5waGVuwDk4
@Snowden @fka_roscosmos @neiltyson Just ask the Martian immigration authority and you’ll get your answer.
Hard forks: simpler code, more complex to deploy.
Soft forks: more complex code, simpler to deploy.
Each should be used when appropriate.
@evanbooth This captures the essence of Fayettenam
RT @evanbooth: Nothing says “gangsta” quite like being a responsible citizen. https://t.co/BLNtBEHHgE
This condom machine made the ultimate sacrifice in the line of duty. https://t.co/n5En6t45tp
RT @_drgo: I love the #statoshi site. Thx @lopp! https://t.co/QK5A8Xk5eB
Looks like ~33M utxo/GB. That’s not so good cf real coins (billi…
Food for thought.
Monero pre-schedules hard forks every 6 months: https://t.co/Kst8iLxUXf
& has adaptive block size: https://t.co/2LLkjubvsb
RT @jgarzik: #Bitcoin is Being Hot-Wired for Settlement https://t.co/Pd5EcOTXN0
RT @kristovatlas: Request for comments: A tool for tracking and visualizing Bitcoin address reuse https://t.co/bAn6Cg0wle
Thanks for the update, @ScouseView! https://t.co/pyMzl97WYN /cc @MatthewPhillips
Two Core developers have spoken out against https://t.co/nc8CRqNLwK’s de-listing of @coinbase from the wallets page. https://t.co/8pmUz1aHkE
@ziggamon He traveled around China after the conference. https://t.co/kCCeanGcjE
.@jtoomim’s consensus census is showing 88% of mining hashpower in favor of a 2-4-8 block size increase. https://t.co/VWNYNWVQoU
@mattrmcnabb @pmarca @elonmusk Traveling through air is so 20th century. Traveling through vacuum in tubes or outer space is where it’s at.
@pmarca Reading comments like these are a strong “buy” signal to me.
Yes, @CNBC, all your codes are belong to us. https://t.co/O2xkqNCSCF https://t.co/tAYYObqZYW
Looking forward to 2015 updates from @ScouseView https://t.co/6k7YDX2YqT
and @MatthewPhillips https://t.co/SIJ7uVyABP
@naval @ScottAdamsSays Offensive drone swarms will just result in the development of new defenses like EMI “bombs.” It never ends…
RT @briankrebs: Lazy Authentication is still the norm. https://t.co/sNtFXyOXpS < story about how my PayPal account was hacked on Christmas …
@el33th4xor @tradewithdave Especially when you’ve quoted said deleted tweet in a tweet of your own :-)
@JayCoDon FYI, it’s spelled “Wuille”
@HoboJerk @bergalex @coinbase Removing info is a bad idea IMO; better to keep the info up and give new users warnings about pros & cons.
@LarryBitcoin @kristovatlas @aantonop You must be using a nonstandard definition of “software fork” - the code is completely different.
@LarryBitcoin @kristovatlas @aantonop No, Roger Ver paid to have .com developed from scratch; it’s not a software fork.
@pa49 No special defenses are needed against “infiltrators” as long as there is public discourse. Suppressing debate is a slippery slope.
@aantonop And yet their code is open source. It would be such a shame if someone were to fork it…
@ImpossibleBTC @brian_armstrong You should probably start over at the beginning. Note the title - it’s not e-gold. bitcoin.org/bitcoin.pdf
@LaurentMT Right, it’s irrelevant as to which path is optimal. If an opposing idea is so terrible, it should not require underhanded tactics
Coercion, suppression of information, interference with public discourse. These are not tactics employed by parties acting in good faith.
RT @masonic_tweets: Bitcoin in 2015 - A Summary by @bencxr https://t.co/wNhHGjE2kW
blockchain #Bitcoin news: milestones, remittances, & a new age of practicality ow.ly/WlWYb @PopSci @lopp @JoTurkishWeekly @timesofindia
Despite progress made at Scaling Bitcoin, the community schism isn’t improving. https://t.co/1M4vvoRkSr https://t.co/Ae0ADyxNPE
RT @kristovatlas: Exchange and mining pool BTCC deploys 100 fully validating nodes on 5 continents to support Bitcoin network https://t.co/…
RT @CrimeADay: 25 USC §500i & 25 CFR §243.7(b) make it a federal crime for a non-Alaskan native to take a reindeer and ever bring it back t…
There will never be more than 2,099,998,977,921,182 satoshis. It might make sense just to get some in case Bitcoin catches on.
@BitfuryGeorge @BitFuryGroup Almost, but not quite there because some old coinbases didn’t collect entire subsidy. https://t.co/4E83Dik7LW
A guide for developing Statoshi and exposing internal Bitcoin node metrics to the world: https://t.co/Ewn68AtLxg
@JVWVU1 @HoboJerk @el33th4xor I was referring to a broader concept of not wanting to exclude people in countries with crappy internet.
balajis If everyone picks the same safe, risk-adjusted option it stops being quite so safe and risk-adjusted. See: MSFT jobs, sovereign defaults.
8) Bitcoin devs should post a notice on software to inform node operators of their timeframe to respond to non-backward compatible changes.
7) IMO, software dev & internet tech are fast paced and participants should be responding to major changes in weeks/months, not a year+.
6) As a result, many Bitcoin developers are extremely conservative and suggest that lead time for hard forks should be greater than 1 year.
5) Problem: devs haven’t communicated to node operators the expected lead time of notices for deploying non-backward compatible changes.
4) Bitcoin devs aren’t responsible for damages caused by node operators who don’t keep themselves apprised of developments to the protocol.
3) Bitcoin protocol developers have a responsibility to give node operators advance notice of non-backward compatible upgrades.
2) Thus Bitcoin node operators have a responsibility to maintain both the software and the hardware they are using to run their node.
1) If you administer a computer that is used to secure people’s money, you have responsibility to keep it running like a well-oiled machine.
@el33th4xor Perhaps because Bitcoin’s target audience is “everyone,” devs are unwilling to explicitly exclude anyone. ¯\_(ツ)_/¯
@el33th4xor People should stop arguing about the cost to run a node unless they’re willing to develop a minimum specification.
RT @el33th4xor: No Such Thing as Developing a Fee Market https://t.co/ioe9Ay5A1q
3) If you’re certain that the BTC exchange rate must rise, put your money where your mouth is and advance the self-fulfilling prophecy! :-)
2) This is even assuming miners sell all of their coins (or sell on public markets), which they don’t, as I noted https://t.co/Dh5DNi5c3J
1) Over 100,000 BTC sold daily on exchanges. Block reward halving (1,800 fewer daily) is unlikely to substantially affect exchange rate.
@realSimonBurns @taariqlewis And the millionth time someone has said “I was just reading it for the articles!”
@shannonNullCode @desantis It varies state by state. Regardless: scooters / bicycles / walking < cars.
Drunk drivers are going to love autonomous cars. No longer shall they be relegated to riding scooters after losing their license!
@tomlebree @pmarca @elonmusk @JeffBezos Waking up as a billionaire and arguing about the size of your rocket ship is probably nice too!
@rogerkver Probably because the Core testnet nodes are now on a different chain fork that is now at height 627350.
@pierre_rochard Indeed, and with the right tools we should be able to automate quite a bit of arbitration.
@pierre_rochard The point is to avoid costly court systems, which most people already do. Goal should be to deprecate court for most txns.
Nearly all transactions made today rely upon the court system as a final authority. Blockchain as a final authority is much more efficient.
@ollekullberg Sure, that’s where it gets complicated, hard to measure. Depends upon total economic value of nodes running that set of rules.
@ollekullberg If you’re an SPV node, sure. But a full node will reject blocks that it deems invalid, regardless of the proof of work.
@ollekullberg Ehhhh, majority hashing power can’t force blocks onto nodes that break the rules to which they have agreed upon.
@el33th4xor What is ‘altruism’ and what is not gets hazy if we’re all working toward a common goal.
@el33th4xor Bitcoin works under the assumption that the majority of participants will act in the best interest of the network.
@bgok @aantonop Bitcoin is already incredibly complicated and most users need not worry about mundane details. I’m not worried about names.
@ollekullberg Well, it’s a complex balance of “who decides” but the miners have effectively handed their deciding power to Bitcoin Core devs
Bitcoin’s network requires machine consensus to maintain status quo.
Protocol dev reqs human consensus to enact change, none for status quo.
@pierebel @aantonop We may not be able to come to a consensus about block sizes, but surely we can at least come to a consensus about names.
@aantonop Alright, we can call it “divorced signatures” but then we won’t have “witness protected programs.”
@taariqlewis @rusty_twit The proof is in the pudding: fee estimates for target of 2 blocks are 10,000 sat/KB higher. pic.twitter.com/aLH7aESDI1
@cypherdoc2 @TuurDemeester Soft forks can be rather hacky and you could argue that they have security issues of their own.
@cypherdoc2 @TuurDemeester Yes, but they figured out how to implement it in a way that current protocol versions essentially ignore it.
@cypherdoc2 @TuurDemeester Development of the Bitcoin protocol only requires consensus for change, not for maintaining the status quo.
@cypherdoc2 @TuurDemeester 300+ people have contributed to Bitcoin Core; there is not consensus on the definition of “Core Developer” :-)
@TuurDemeester Almost everyone supports a soft fork for Segregated Witness. The difference is those who also want a block size hard fork.
SpaceX The Falcon 9 first stage landing is confirmed. Second stage continuing nominally. pic.twitter.com/RX2QKSl0z7
ACHIEVEMENT UNLOCKED!!!! https://t.co/C09StBYZvG
@kristovatlas Thankfully the capitalization is different or we’d have a perfect collision and a REAL conundrum on our hands!
Cryptocurrency company name collisions continue coming! pic.twitter.com/yjHTHx7oat
I predict that we will see 0 hard forks (for any reason) adopted by Bitcoin Core in 2016. https://t.co/OyGYxWfvcC
“Error 451: Forbidden by Government. Please try again via @torproject” https://t.co/wIo9BsE78U
@flyosity What marketeer decided that “codeblooded” (cold blooded) is a selling point?
flyosity Fidelity is looking for programmers who make syntax errors in nonsensical programming languages. pic.twitter.com/k4hAHz1xwk
RT @ryanxcharles: I asked which article you wanted me to write. “10 GB Blocks” had the most votes. Presenting: 10 GB Blocks. https://t.co/U…
@charlescwcooke @pmarca Given that traffic deaths are mostly unintentional, it seems fair to compare them with unintentional firearm deaths.
@AFDudley0 @lightcoin PoS is just a different type of centralization; majority of BTC are held by a tiny minority. https://t.co/7Gn1wQBKgg
@AFDudley0 @lightcoin Sure, intermittent mining wouldn’t be optimal for security of the network, but for new miner use cases.
@AFDudley0 @lightcoin A next-gen ASIC => centralization, but as competitors catch up the space will re-decentralize. @21 needs p2pool 2.0.
@kristovatlas It’s funny that my bitnode has more storage space than my macbook :-P
Bitnode owners: it’s time to upgrade storage! This 200GB card works for me: https://t.co/nyl6vXWn0n Instructions at https://t.co/eyOIWdV7bX
@30somethingSTL A “p2pool 2.0” would be preferable. Alternatively, if each device manufacturer ran a pool that might be sufficient.
RT @Julian_AStahl: @lopp @21 100% agree, as we are working on a new miner to help re-decentralize mining: https://t.co/OvFyJSCTLC https://t…
@shibuyashadows Well, p2pool is already a thing but the problem is that it’s not competitive enough. Which is why we need 2.0 from @21.
RT @declanm: Thank goodness the Feds are here to help: “FAA Admits Names & Home Addresses In Drone Registry Publicly Available” https://t.c…
Thoughts on the future of bitcoin mining: https://t.co/7OTXluRgVn h/t @21
@santisiri Mind if I use your 21BC photo w/attribution from top of https://t.co/CcCKW3IwdS for a post I’m writing?
The @21 Bitcoin Computer now supports @BitGo multisignature wallets thanks to @masonic_tweets! https://t.co/SSzq4fxam0
@thomaskerin @dakami @ErrataRob Unlikely, given the magnitude of the increase.
@dakami @ErrataRob It /could/ be new miners if it’s consumer S7s coming online. Or could be Bitfury’s new chip that they are also selling.
@zooko @ryanxcharles Someone at @TeleportInc is excited about Episode 7… pic.twitter.com/NVFoQ4TtlL
@JamesGMorgan Proof of Speculation ;-)
Bitcoin has added more computational power to securing its network in the past 2 weeks than it had in total 18 months ago.
@acityinohio @ryanxcharles They forgot the X!
@DAPomeroy I suspect that when his car drives itself, @pmarca will use his extra free time to tweet and sip scotch while driving.
The best icon is a text label - especially for people who didn’t grow up with icons. https://t.co/CBF5uyuQhx https://t.co/Oq6Y3cgoBe
@junseth *shrugs* every subreddit is an echo chamber
@junseth You mean that the subscribers tend to agree with the XT devs and disagree with the Core devs?
@junseth Will be interesting to see how well / poorly Reddit’s spam filter works without mods to guide it :-)
@junseth @nanok That’s what we strive for in /r/bitcoinxt, though we do remove spam. Are you not removing anything?
@Radomysisky @olivierjanss @Jim_Harper A dictatorship with no means to extract money from the populace has one foot in the grave.
@acityinohio @pwuille @jgarzik In theory, but I’m fine with kicking the can until we get to the point where we can evaluate LN’s effects.
No block size algo will be permanent.
Too conservative => hard fork up.
Too liberal => soft fork down.
Ability to fork is more important.
BIP103 by @pwuille proposes 18% annual block size increase
BIP202 by @jgarzik proposes 100% => 50% => 33% => 25% => 20% => 16% => 14% => etc
@flyosity Is that a 5 out of 7? imgur.com/a/Gjcb5
RT @JennaMC_Laugh: Aaaand House passes the omnibus, allowing sneak attack CISA in. https://t.co/tufDHx8nGH https://t.co/oKl5RqbADi
20 bytes every 10 minutes works out to slightly more than 1 megabyte per year. #savedyouacalculation https://t.co/YUzE2H3ZpW
SoberLook Chart: Argentine peso drops 26% as currency controls lifted - pic.twitter.com/OtrRjotXWC
RT @zerohedge: All Of The World’s Money And Markets In One Visualization https://t.co/ZqqALKQ1Xd
RT @pmarca: Big companies desperately hoping for blockchain without Bitcoin is exactly like 1994: Can’t we please have online without Inter…
Inaccurate articles; the NC Bitcoin bill didn’t pass:
https://t.co/2ZIKvZW8WP
https://t.co/JdWCjEREON
Full story: https://t.co/F1eM4TCoUc
@flyosity @the_intercept @lhfang Because he’s pro-crony capitalism. “Free enterprise” means we can buy government protection woohoo!
@FUSARtech How do you ensure that recent footage isn’t corrupted in case of power loss? I worry about reports like https://t.co/TFzhb2b9BC
@cypherdoc2 It was, but @orionwl confirmed that he dropped his commit access. That’s what I linked to.
Gregory Maxwell has voluntarily removed his commit permission from Bitcoin Core. https://t.co/aPVYWajI7A
@mikestable *pew*boom*toot* i.imgur.com/lFatiV7.mp4
@jgarzik MFW a pro-Bitcoin person claims that an emerging Bitcoin-related technology will never succeed: pic.twitter.com/4uVivHsVpW
@EntrancedBeef @pmarca self driving cars need beds for both recreational & utilitarian activities. Overnight driving opens possibilities…
@jgarzik *bump. ABORT DUMP, I REPEAT, ABORT DUMP!
@kristovatlas @shibuyashadows @jgarzik Disclosing version could be privacy concern; not sure it matters to users unless you’re hard forking.
@kristovatlas @shibuyashadows @jgarzik Ye olde variance in throughput problem
1) Miners: “we defer to Core devs’ experience to make consensus changes”
2) Devs: “we don’t have authority to decide changes”
3) Users: WAT
Bitcoin Core committers are central planners, whether they like it or not. pic.twitter.com/OYCfEGZGss
RT @kristovatlas: Fascinating post by @jgarzik.My TL;DR: if you change economic plans even by inaction, take ownership and be clear https:/…
@kristovatlas @jgarzik On average, blocks will never be full because empty blocks drop the average significantly. Full blocks ~= 700KB avg
Unto us a new Theymos is born.
Original thread: https://t.co/QM2nn0uIVt
Sanitized thread: https://t.co/UJ3MqWNuXw
@orweinberger @cryptsy Don’t forget to check under the couch cushions for cold wallets.
@BenedictEvans @pmarca Perhaps we’re just humoring the anti-crypto proponents because we know the direction we’re headed is inevitable ;-)
@Vlad_Roberto @Radomysisky What? The Foundation is dead. The only people who “control” the protocol are not affiliated with it.
@pmarca @BenedictEvans Is “1984” not a sufficiently succinct answer?
@Piotr14Tra @aantonop If a mod was around, they would. If a mod wasn’t around, an admin could also remove it. Reddit is private property.
@Piotr14Tra @aantonop Far more likely is that it would be “censored” by the community themselves by downvoting / reporting as spam.
@Piotr14Tra @aantonop While that’s certainly an interesting thought experiment, I’m unaware of anyone ever wanting/trying to do that.
@Piotr14Tra @aantonop /r/BitcoinXT is a subreddit focused on providing open discussion on all things Bitcoin. Child porn is off-topic.
@aantonop We’re still censorship-free on /r/bitcoinxt :-)
@robustus @shibuyashadows @rogerkver I decided to not curate users or content on /r/bitcoinxt. It’s an interesting experiment.
@desantis I’d just recommend installing Relay Pro on your phone to get alerts for mod stuff. It’s pretty low maintenance.
@desantis There’s not much to it… 2 main actions:
Spam gets flagged & needs removing.
Legit posts get flagged & need approving.
@Jim_Harper and @olivierjanss voted to shut down the @BTCFoundation ðŸ’ðŸ’ðŸ’https://t.co/yIx4VcfmMv
@qhardy @pmarca @NickRSearcy
Step 1: Achieve immortality
Step 2: Cease reproduction since it’s obsolete
Step 3: Goof off for eternity
@Radomysisky It sounds like @Vlad_Roberto has constructed an amazingly powerful reality distortion field. BTC Foundation controls nothing.
@khannib @TeslaMotors @elonmusk @YouTube Nice! Needs to be snakier :-P
Million dollar idea: repurpose the @TeslaMotors snake charger to find cow udders & fully automate milking. /cc @elonmusk
@desantis jabber + OTR :-)
@TriangleBitcoin … except that it’s actually hard to raise money and HB 289 did NOT pass…
/r/btc subscribers appear to be lashing out against the announcement of their newest moderator. https://t.co/c2egO63MTs
@alexhern @dgwbirch Yeah, same concept basically applies there as well. I rarely sign my cards - I usually write “ASK FOR ID”
@alexhern @dgwbirch Perhaps, but remember that in many transactions there are no signatures collected. Online purchases, gas stations, etc.
Segregated Witness will make it cheaper (fee-wise) to send transactions with large numbers of inputs, hopefully incentivizing UTXO cleanup.
RT @roasbeef: fraud_proofs++
Also allows SPV nodes to optionally compute fee estimates w/o relying on centralized servers.
https://t.co/B…
“There is currently no full node software that by default validates all historical transaction signatures (due to checkpoints.)” - GMaxwell
“There are currently no incentives in Bitcoin to help limit the growth of the UTXO set.” - @pwuille @SFBitcoinDevs
“We could theoretically allow an infinite amount of witness data but we want to set limits proportional to costs.” - @pwuille @SFBitcoinDevs
“Witness data explicitly includes the fee amount. Also includes the block height from which an input is spent.” - @pwuille @SFBitcoinDevs
“Script v0: small redeem scripts are placed in output
Script v1: large redeem scripts are placed in witness”
- @pwuille @SFBitcoinDevs
@mdotfallon @pwuille @SFBitcoinDevs Most major changes would be cleaner with a hard fork (from a code standpoint) but deployment is messier.
“Segregated Witness transactions will still have a signature field, but it will be empty.” - @pwuille @SFBitcoinDevs
“SegWit gives a 60% bandwidth savings for nodes uninterested in sigs (lite clients & historical block downloads)” - @pwuille @SFBitcoinDevs
Finally got to visit @NakamotoStore in San Francisco. Employee tells me most of their foot traffic is for the BTMS. pic.twitter.com/uEFhXKI7ic
@Kosmatos @colbydillion Correct
@colbydillion it will do fine in your front pocket but I wouldn’t sit on it.
@ryanxcharles my initial review is at https://t.co/EFJeScOk1I
@ryanxcharles It is 2G only and depends upon coverage and Case’s contracts.
Case Wallet field test updates. Doesn’t work in:
* Hong Kong
* Taipei
* San Francisco?!
* Dark bars (no backlit screen)
All politicians lie. Some lie more than others. @realDonaldTrump lies 76% of the time. https://t.co/weEgErBT3W
UK citizens may soon “need” licenses to photograph some things they already own. I predict public apathy wins again. https://t.co/yy6cDEvJba
@Steven_McKie I don’t know why we still use analog signatures - I don’t think I’ve ever heard of a signature being used to prevent fraud.
@markhughes Which is why Bitcoin needs layer 2 scaling solutions. No need to store a coffee purchase on an immutable ledger for all time.