Forward Blocks – A proposal to increase on-chain settlement capacity by 3584x with a soft-fork

Mark Friedenbach, a bitcoin core developer, proposes a new idea he is calling Forward Blocks, for Bitcoin. It enables all sorts of amazing capabilities via soft-fork. You can read the whole paper here ( http://freico.in/forward-blocks-scalingbitcoin-paper.pdf ) and I believe he will be presenting it this weekend at Scaling Bitcoin.

Here's a snippet from the paper that does a great job summarizing a lot of the potential improvements:

We demonstrated that the idea of forward blocks provides a unifying mechanism that:

• Provides on-chain settlement scaling of up to 3584x current limits as a soft-fork;

• Provides for an (optional) proof-of-work upgrade as a soft fork;

• Limits growth of validation costs with a flexible weight limit;

• Decreases centralization risks through the adoption of sharding; and

• Provides a framework for ledger accounting in future protocol extensions including but not limited to:

– A rebatable fee market with consensus-determined transaction clearing fee rates;

– Confidential transactions for obscuring transaction amounts;

– Mimblewimble, ring signatures, or anonymous spends for obscuring the spend graph; and

– Sidechain value-transfer mechanisms.

While there are many moving parts to this proposal, it is not beyond the level of complexity of prior extensions adopted by bitcoin (e.g. segregated witness), and achieves a variety of benefits comparable in magnitude.

submitted by /u/johncantrell97
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Bitcoin – The Currency of the Internet

Make money by moving Bitcoin forward, not trying to get money from people trying to make money from Bitcoin

There is this stain on Bitcoin of all of these people and companies coming out with their ways to make money on Bitcoin, mainly by targeting those people that want to get rich from Bitcoin. I had two fake "cloud mining" people contact me in the past week. I've had Bitcoin pyramid scheme people contacting me saying if I send .2 BTC today I'll get .4 BTC in 4 days.

Come on people. Get a life. Invest in growing the Bitcoin ecosystem. Make it better, there are so many areas that need productive people to make it grow.

We need plug and play Point of Sale systems, we need amazing user interfaces for our wallets, we need Lightning Network in our browsers so server admins can use micropayments for things like captcha, login security (pay 1 bit when you log into a website so that a hacker attacking your login will have to come out of pocket to try to guess your password), we need wifi software so anyone can share their wifi at home, airports, public spaces and charge micropayments for use.

Go business to business, set them up with bitcoin…take a commission to make money. Go on localbitcoins and buy/sell bitcoins to make it easier for people to get into Bitcoin.

Take whatever your talents are in the real world and translate them into something useful for Bitcoin. Even if it's flipping burgers, sell the best burgers you can make on the weekend and only accept Bitcoin. Call them Bitcoin burgers.

If you're trying to scam people out of money because they don't fully understand the bitcoin ecosystem yet, re-evaluate your life choices and decide today to not be such an asshole. Actually do something with your future and be a decent human being already.

submitted by /u/Elwar
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Bitcoin – The Currency of the Internet

Cambodia’s Crypto Industry Marches Forward Despite Legal Grey Area (news.bitcoin.com)

Cambodia’s cryptocurrency sector appears to be marching forward, despite the absence of clear regulatory guidelines pertaining to virtual currencies. 
Also Read: PBOC to Strengthen Cryptocurrency Regulations in 2018
Regulatory Ambiguity Fails to Deter Cambodia’s Cryptocurrency Sector
A report published by…

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