BIP148 looks to be a total victory – Thanks to all those involved!

When you make a demand, and not only is every part of your demand met, but even more is given, that is the ultimate success. BIP148 advocates demanded that miners signal segwit unanimously by Aug 1. With the activation of BIP91, that goal appears to be imminent. As of writing this, all pools appear to be signalling.

First, I would like to thank /u/shaolinfry for his inspiration in the formalization of UASF and BIP148. Without him, we wouldn't be here.

I would like to thank Charlie Lee for getting the ball moving on Litecoin. Seeing the power of a UASF in action gave a lot of courage to the rest of us.

I'd like to thank Samson Mow for his hat campaign (and a hat)! These hats grew larger than life and became a symbol of a movement.

I wanted to give a special thanks to /u/luke-jr for being such a strong advocate and making such a convincing case for BIP148. I was ready to give up until I was inspired by Luke and became more inspired than ever in this fight.

I'd like to thank /u/lightsword for getting BIP91 into btc1. Without his efforts, btc1 would never have been able to activate SegWit.

Lastly, I'd like to support all the users who have been supportive and advocates for BIP148. You did this. Without help from Core (in fact, even many members of Core battling us), without the help of mining pools, you forced the miners hands, forced the NYA to comply with BIP148. Without such strong activism, BIP148 would have been ignored.

The story of SegWit will no doubt be twisted by those seeking glory. We all know the truth. We all know that the entire reason for BIP91 in btc1 was due to BIP148's threat. They will give a few miners a way to save face while the other miners will simply run a patched Bitcoin Core. We got everything we wanted.

I've seen a few /r/btc sockpuppets also trying to claim victory, claiming they fired Core. If anything, the success of BIP148 shows that Core is not in charge and the community is. No one can fire volunteers. Their dishonest claim of victory is apparent – they have gotten NOTHING out of this. They opposed SegWit, yet SegWit is inevitable. They wanted a hard fork, and the hard fork can be safely ignored. They wanted larger blocks, and they are getting the SegWit compromise of using block weight. The only thing they got was a new client (of which there already were dozens) that will likely be abandoned soon. There are no competent developers (other than Hilliard, who was simply getting BIP91 in) working on the project. They have little understanding of how Bitcoin works and even required being bailed out by Core a few times to even get something functional. The only thing they got was a miner commitment to hard fork (miners have done this before, yet I see no hard fork),and a few businesses saying they will hard fork. Even if there was a hard fork, its far from what they actually want – they claim 2MB blocks are too small anyway..

But we must stay vigilant. They will try to spin this as a mandate for a hard fork. We must be prepared to ignore it. The good news is, no one can force you to support a hard fork. So celebrate, but make sure to share the truth. They will claim victory, and claim they are in charge now, but in reality, we all know who is – you are. Don't give that up.

submitted by /u/ricco_di_alpaca
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Bitcoin

To all those panicking right now: If you can’t afford your bitcoins, don’t fucking buy them.

I see way too many people here selling because of the bursting bubble. Sure, it might be wise short time and will earn you some profit.

But we all know, long term it's going to rise further. And if you can't afford to lose all of your bitcoins, you shouldn't have bought them in the first place. Simple as that.

submitted by /u/GetSame
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Bitcoin

Any pool that value those who mine during low difficulty more?

Imagine a pool having 2 people.

A mines for 1 minute when difficulty is 1000. Then B mine for 1 minute when difficulty is 1. Let’s for simplicity sake difficulty change from 1 to 1000 to 1 to 1000 to 1 to 1000 every minute. Say they both got the same machine.

Every 1-2 hours the pool solve some blocks.

The way I understand it is that the pool got far more contribution from B than from A. B contribution to solve some blocks is higher because B provides hash when difficulty is lower.

However, A and B will get roughly the exact same payment.

They submit the same number of shares for the same stratum difficulty.

Am I correct here?

This is important for those who are buying nicehash hash to sell to some other pool. Even though you time your buying when difficulty is low you are rewarded as much as anyone with worse timing,

Are there any pool that rewards you more when you mine at lower difficulty?

Recent Questions – Bitcoin Stack Exchange

Those who would give up essential decentralization, to purchase temporary lower fees, deserve neither decentralization nor lower fees

"Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety." – Benjamin Franklin

There might be an even better way to make this relevant to the discussion today.

Decentralization is of course freedom and security and safety.

If you look at it from that angle, it is obvious what is at stake.

An astute observer of modern societies realizes that this is and remains a threat, because human nature will not change in the foreseeable future. The only hope I have is that a technical solution for this human flaw is possible. But if anyone will find a solution, I am pretty sure it will be the open source community behind Bitcoin.

submitted by /u/38degrees
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Bitcoin