Venezuelan update: One BTC is around 1,524,000 BsS. (Bolivares, more than 100% increase in around 1 month), monthly minimum wage is around 8 USD -0.0013 BTC- and inflation keeps going on (even in USD). 915 BTC were traded last week using Localbitcoin data.

Hello,

You can check the "Coffee with milk index made by Bloomberg" https://www.bloomberg.com/features/2016-venezuela-cafe-con-leche-index/

Government "set" the prices of some goods and what happens is that they set the price is under the production cost. But now people just don't care, price is set at 90 BsS. per kilo (which is around 45 usd cents) none wants to sell at that price, people is selling it at around 700 Bs. (3 USD) and nothing happens.

Government ordered all the banks to show your balance in petro cryptocurrency as well (Government cryptocurrency), if you have 3600 BsS. (15 USD) in your account it will show 1 Petro. Even BBVA and Citibank had to do this.

You can check the 24h volume here http://dolarbeta.com/ and the last week volumen using Coindance

AMA anything

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

Mastercard Issues Patent to artifically increase bitcoins supply to 210 million Bitcoin’s via derivates markets. Wall Street is beggining to create a fractional reserve system for Bitcoin – A system Bitcoin was meant to destroy.

Mastercard Issues Patent to artifically increase bitcoins supply to 210 million Bitcoin's via derivates markets. Wall Street is beggining to create a fractional reserve system for Bitcoin - A system Bitcoin was meant to destroy. submitted by /u/Romu_HS
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Bitcoin – The Currency of the Internet

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