I hate to be the one and saying this

but you need to wake up!

all those people asking whats going on.. well let me tell you. another cryptocurrency is coming very close to taking over.

I love BTC and I love what the devs have accomplished in the past, but the current state of Satoshi's legacy is a nightmare!

These are only the first tremors. More and more will follow as Number2 gets increased media attention and people buy in basically making a self fulfilling prophecy.


edit: im not even talking market cap. asic resistance, scalability, steady process.. I really do not want to sound like I am promoting something here, but shits getting real, open your eyes.

submitted by /u/l_-l
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PSA: How to restore Bitcoin’s fungibility with this one cool trick (Tracking Startups Hate Him!)

Sorry for the clickbait title, but this is a pressing matter.

Recently JoinMarket released a protocol upgrade which makes the snooping attack expensive to perform. However, this makes no difference until you stop running the old version and switch to the new one.

No, it doesn't matter that half the liquidity has moved to the new protocol. Nobody1 is using the new protocol, so the profit remains in the old (vulnerable) protocol, and there is no incentive for liquidity providers to remain there. Worse yet, there is an incentive for participants to provide liquidity using both the old protocol and the new one, which ruins privacy on both sides as the snoop could still identify coins through the old protocol.

Stop using the old protocol!

  1. EDIT for clarification: The new protocol has been tested for months on testnet, and used on mainnet for several days. There are some transactions there, but nowhere near the volume on the old protocol; so you won't be the first client to switch, although you may be the ~fifth. In case you were wondering, there is no way to distinguish which protocol was used to produce a finished transactions, although obviously the participants know which it was.

submitted by /u/joinmarket-xt
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Coinbase Faces Hate On r/Bitcoin, Love on r/btc

Two competing Bitcoin forums on popular social media website strike a startlingly different tone when it comes to one of the most popular and influential corporations in the Bitcoin industry: Coinbase. Bitcoiners like to express disdain for leading Bitcoin wallet service and exchange Coinbase on r/Bitcoin, the Bitcoin forum moderated by the controversial administrator Theymos, […]

The post Coinbase Faces Hate On r/Bitcoin, Love on r/btc appeared first on CCN: Financial Bitcoin & Cryptocurrency News.

News – CCN: Financial Bitcoin & Cryptocurrency News

A lot of us here hate on and criticize Ethereum and Altcoins, when in truth we can learn a lot about their respective success and failures

They're so many successful and failed cryptocurrencies which we may observe, this is a positive that comes with open sourced, decentralized communities which we should learn to love and not scorn. Let's look at a few examples from a popular Cryptocurrency which is under scrutiny and compare it to BTC:

  • The DAO had a critical attack happen which resulted in approximately 17% of the current ETH in circulation to be under 'seige'
  • After deliberation the Devs + community decided it was in the best interest of everyone to present the option for a Hard Fork returning the money to it's rightful owners, but not honoring their original intention which is clearly stated on their website "Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third party interference." Having said that, Vitalik clearly pointed out in the earlier days that HF's will happen until things have been ironed out. These opposing situations have led to a growing division within their community.
  • Ethereum hard-forked and success was yelled from the mountain tops, 99% hashrate on the new chain was a clear indication of that (Or so they thought)
  • Poloniex creates the ETC market and starts trading and gaining momentum, social media picks up and speculators start gambling. People start convincing others to join the right side, the side that is not manipulated by anyone etc
  • Market cap blows up and hash rates zoom to 10%-20% creating an unsavoury situation for their entire community
  • We now have 2 tokens both trading at high volumes

Now let's take a moment and consider that a CLEAR majority agreed upon the HF and as such it was done.

  • Bitcoin is not as clear on the block size issue due in part to a few recognized players in the community, continually airing their grief about the situation
  • Bitcoin has decided to not go down this road due to the foreseen AND unforeseen vectors of attack which will present themselves thereafter
  • A lot of people vilified some key developers and members of the community, without understanding what the deeper impacts of a potential HF could have on the technology AND the community.
  • The repercussion and possible fallout in the media would be exactly the opposite of what we need which is strength
  • This demonstrative situation is positive for the Bitcoin community, let's watch how another active and intelligent community in this space deals with the situation. So we may better present future road maps based partly on the events which happened, As opposed to "theories."

This isn't to say that ETH won't get through this, I hope they do prevail and like other cryptocurrencies before them. Continue to power on and show us all through their actions, what possibilities exist and how the communities/developers/business owners/hackers/influential individuals/miners will react thereafter.

  • This is beneficial for all of the cryptocurrency community and we should approach it as such, after all. When the competitive civil war subsides. It is good to remember that big banks are the ones we should stand united against. Food for thought

submitted by /u/AnalyzerX7
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