Bitcoin Needs Enhancements and Institutional Money to Beat $20K Highs, Say Analysts

The price of Bitcoin has finally picked up since April after struggling to stay above the $ 6,000 mark earlier in the year. Investor confidence within the cryptocurrency market is getting on its feet as the market cap reaches $ 450 billion and BTC dominance drops to nearly a third of the market. There are three …
Google Alert – bitcoin

Andreas Antonopoulos: 4 Things Bitcoin Needs Plus a Hard Fork in 2018

Specifically, wallets that are secure, easy to use, intuitive, and which use the latest cutting-edge technology and are able to handle different types of fees and provide fee estimation are sorely needed. Antonopoulos makes an excellent argument that wallets are the “front end” of the Bitcoin industry and …
Google Alert – bitcoin

Did you know? For McAfee to win his bet, BTC only needs to be $ 7,000 today

As you all know, John McAfee bet that bitcoin would be $ 1 Million by the end of 2020.

If it were an asset rising steadily with a fixed percentage, it would only be $ 7,000 today. Despite all the volatility, FUD, we are above that curve. So relax and HODL.

https://fnordprefekt.de

submitted by /u/raumi75
[link] [comments]
Bitcoin – The Currency of the Internet

Lightning network still needs a lot of work

Let's start with disclaimer: I'm a huge fan of LN. I've been wishing for something similar since ~2012 (unfortunately I didn't have money to buy :/ ). I'm also very cautious of increasing the block size limit because of the cost of nodes.

So recently, I decided to try out LN on testnet. I started looking around and found that there are three implementations of LN: lnd written in Go, Eclair written in Java and C-lightning written in C, obviously.

My first step was to choose which one of them is the best fit. The intention is to run it on main net one day, so I decided to choose same constraints I would have chosen if running on main net.

I looked at lnd and found out it requires btcd – re-implementation of Bicoin Core. This is something many devs frown upon, but I was thinking "maybe they use libbitcoin?" I didn't found any information on this, so I decided to not risk it. Anyway, that would mean installing another node on my existing 100€ server, which barely handles one node with Electrumx.

Eclair was immediately out of question because of memory requirements of Java.

C-lightning sounded dangerous. C is very bad language for writing security-critical software. "Why nobody wrote it in Rust?" was my first thought. I learned only recently that a Rust implementation exists – one that's too far from complete and looking at the code, it doesn't seem very idiomatic…

So C-lightning was also out of question.

Or not. I was thinking "maybe they have great test suite. After all, Bitcoin Core is in C++ (just as terrible as C) and it works". That's probably the only choice for such a cheap node I have anyway.

So I cloned it and compiled. This was surprisingly easy. No messing with ./configure, compiled pretty fast. I proceeded as instructions said and connected it to freshly-synchronized bitcoind. It seemed to work, so I opened a connections to two random nodes and created channels.

Then I was thinking that sending funds is boring, receiving is better. I quickly found out that those nodes I connected to put 0 satoshis into the channel, so they wouldn't be able to receive my payment.

So I tried to connect directly to the node with my phone using Eclair. It failed. I seemed to be out of luck.

Then I realized, I could receive money if I send first. Donating would be pointless, so I decided to simply buy an article from Yalls using my node. It turned out Yalls had screwed configuration, so I couldn't send them any payment. I tried to buy virtual coffee and the routing was giving "too expensive" error even for 5% fees.

During this testing, I hit few Segfault bugs – those are bugs that can also be serious security vulnerabilities and their presence demonstrated that C-lightning is doing well exactly what a typical C program is good at: crashing.

So I gave up for now. As you can see, there's a long way to go, so don't get over-hyped. And certainly do not put a big amount of money into LN!.

I hope this will change some day. It seems to be solvable, it just needs time.

TL;DR: Tried LN, it has lot of problems, had to give up. But I still believe in it's future.

submitted by /u/kixunil
[link] [comments]
Bitcoin – The Currency of the Internet

I’m a 45 year old with arthritis and I built an anonymous futures exchange (Gold, Crude Oil, Sports, etc.) in C#; All trades settle in Bitcoin; Site is very rough, needs some QA / testing

The site: https://www.bitfutures.co

TLDR: I work in the futures industry and thought it might be fun to build a simple, anonymous futures exchange that uses Bitcoin as a settlement mechanism instead of fiat. My ultimate goal is to discover some talented futures traders to whom my company (a financial firm in hedge fund space) can allocate trading capital.

For now I'm just looking for 2 or 3 guys to buy (or short) a couple of different futures contracts on my site and let me know how things work for you. Shoot me an email and let me know you're participating. I'll try to provide a bid/ask in your market of interest so you can execute a market order or alternatively, try placing a limit order and I'll trade with you.

— ENHANCEMENTS FROM RECENT FEEDBACK —

  • SegWit support (bech32 addresses only; no P2SH support just yet);

  • New binary futures contracts (e.g. 'prediction markets') which settle at 0.00 or 100.00 based on the outcome of NHL hockey games and MMA fights. See the /markets page for a complete list of markets.

— WARNINGS —

  • I designed this site on my own so needless to say it doesn't have the level of polish that one might expect from a professional dev team. I acknowledge that it has a bit of an 'amateur' vibe right now and is still a work in progress.

  • Do NOT deposit more than $ 100.00 (apprx .01) worth of BTC for this trial.

  • Deposits will be visible in your ledger after two confirmations or approximately twenty minutes.

  • When withdrawing your funds, a transaction fee rate will be recommended to you. You can use that rate or choose a custom rate. If you enter a custom fee rate lower than 10 sat/byte, your transaction may remain unconfirmed for an inordinate amount of time. Please see https://bitcoinfees.earn.com/ for fee rate recommendations.

  • Bitcoin is the only crypto supported. Please don't send BCash.

— CONTACT INFO —

site: https://www.bitfutures.co

Gale Boetticher email: Gale.Boetticher@BitFutures.io BitMessage: BM-2cXAXMG5KGBxt1pJUFPAEJq5cuFdwi53Pi

EDIT: Got rid of the confusing ".io" TLD for the site's domain name; now ".co";

submitted by /u/gale_boetticher_9
[link] [comments]
Bitcoin – The Currency of the Internet

This Sub Needs a Sticky Up Top That States: “YOU Can Buy $10 Worth of Bitcoin”

I posted previously: "Many still think that they need to buy a whole Bitcoin. It is imperative to educate the public about BTC fraction"… and got some flack for it because of the high transaction fees. Well, it's quite amazing how much progress was made in just a few months, as the transaction fees make it once again, possible for people to "buy $ 10 worth of Bitcoin".

submitted by /u/SilverShux
[link] [comments]
Bitcoin – The Currency of the Internet