Bitcoin (BTC) Protocol Is Challenging to Maintain Due to ...
Protocol - Bitcoin Wiki
Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever. While bitcoin tokens on the original network can't be copied or counterfeited, the protocol is open source and can be recreated with different parameters. We call these Airdrops.
/BlockChain is has gone private due to an extreme influx of ICO scams, snake-oil shills and plagiarized crypto-news blog spam. There is no application process and new members are not being added. Contacting the mod team will not result in an invitation.
For all the purity test haters out there, guess what! The Bitcoin protocol is a never-ending “purity test” to achieve globally distributed consensus about the number of Satoshis in every Bitcoin address around the world.
So forgive the people who apply their second layer purity tests and virtues on top of the Bitcoin blockchain. That doesn’t mean you have to agree with how they’re using Bitcoin. It just means that there’s room for everyone to apply their own subjective beliefs and purity tests to Bitcoin, without compromising Bitcoin’s security/purity.
For all the purity test haters out there, guess what! The Bitcoin protocol is a never-ending “purity test” to achieve globally distributed consensus about the number of Satoshis in every Bitcoin address around the world. (x-post from /r/Bitcoin)
08-15 06:16 - 'Why is it such a huge issue? And further more, what will the argument be if the burn rate became greater than the issuance? / BTC is a simple protocol in contrast to ETH, supply cap is all it has going on it's favor...' by /u/Lustful_lurker69 removed from /r/Bitcoin within 388-398min
''' Why is it such a huge issue? And further more, what will the argument be if the burn rate became greater than the issuance? BTC is a simple protocol in contrast to ETH, supply cap is all it has going on it's favor MOL, ETH will likely scale in the very near future and will be the most utilized blockchain for micro transactions which is the direction M2M IoT world is shifting. Just look around at how much automation is around us everyday. ''' Context Link Go1dfish undelete link unreddit undelete link Author: Lustful_lurker69
Feature creep is a legitimate threat to any Bitcoin fork. The assumption that simply adding more stuff to the Bitcoin protocol is what will make it valuable is incorrect—if it were right, any alt coin could add that one extra feature and it would dominate. Not how it works.
Bitcoin is fundamentally just an internet game with rules. Rules define how games are played. People only play games voluntarily if they believe the rules are applied consistently and fairly. The consistent and fair application of the rules is what gives the Bitcoin protocol value.
Considering that Bitcoin is permissionless then why is there such a fuss around chain split and hard forks? Whoever is not happy with the protocol can just "fork off" and may the best chain wins in long term. It's free market afterall. What's all the fuss about? Am I missing something?
Rather than talking shit and labeling him a fraud, how about you challenge him on his technical positions regarding the Bitcoin protocol. From what I can see, CSW is carrying out Satoshi's vision of P2P cash and protecting Bitcoin from another hijacking of unnecessary changes.
Bitcoin isn't Core. Bitcoin isn't Roger Ver. Nobody owns Bitcoin. Bitcoin is what follows the protocol laid out in the whitepaper.
Everything else is an altcoin. Bitcoin Cash is currently the closest protocol implementation to what was laid out in the whitepaper. Bitcoin is going to change the world. It will take time fighting back the wealthiest people and states as they do everything in their means to cling to their stolen empires. Everyone should be able to afford to use Bitcoin as they see fit. Any transaction that pays a fee isn't spam. It is up to the miners to decide what a they will accept as a fair fee. There is no longer a need for the temporary 1mb spam blocksize limit because Bitcoin is now valuable enough to make even dust spamming expensive. The limit should be elastic enough to ensure there's never a memory pool backlog. If spammers want to pay miners to mine bigger blocks it's up to the miners to decide how much this will cost them. This was the already the case 2 years ago but Core has been brainwashing users into believing only their second layer solutions can solve scaling while delaying any actual progress towards actual scaling as long as possible. "It's not about the money. It's about sending a message."
09-22 02:33 - 'What are your thoughts on FLO? FLO is integral to the Open Index Protocol, which plays an important role in the Ravencoin roadmap. / If it is very important, what can the FLO community do alongside Ravencoin to boost commu...' by /u/ElWoofWoof removed from /r/Bitcoin within 184-194min
''' What are your thoughts on FLO? FLO is integral to the Open Index Protocol, which plays an important role in the Ravencoin roadmap. If it is very important, what can the FLO community do alongside Ravencoin to boost community awareness in your opinion? ''' Context Link Go1dfish undelete link unreddit undelete link Author: ElWoofWoof
"The roadmap for SV is to eventually lift all limits while not messing with the parts of the protocol that can have unforeseeable impact on the economics of Bitcoin. That’s what makes it stable. The best stabilization comes when it’s driven by economics, not by central planning."
Bottom Line: ABC is trying to change the protocol but lacks miner support. SV and its hash power is what is protecting Bitcoin Cash. You can't be mad at that.
Bash CSW all you want, but hash power is how consensus rules are determined. It's a large part in what made Bitcoin a revolutionary invention. Without it, Bitcoin could not exist. Look what happened when devs and certain miners decided to backdoor this process through private agreements and Segwit2x. Never again.
What is off-by-one error in Bitcoin protocol for target updating?
I went through this BTC Stack Exchange answer but it's still not very clear to me. Can someone help me break it down a lil bit? Also, How was it fixed later? What's the re-target calculation formula. Can anyone explain with an example.
Those that compare #bitcoin to things like Netscape, AOL, Myspace or other centralized co's apps & websites are fundamentally misunderstanding what btc is. Bitcoin is a protocol, it's the internet of money. Google, Facebook & Apple didn't rewrite tcp/ip, they built on top of it.
"A new era is emerging. By effectively bringing back the standard Bitcoin protocol v0.1.0, #BSV is finally showing the real world players exactly what Bitcoin is capable of, why it is important and what they've been missing. Sh*tcoin gamblers, say hello to self imposed bankruptcy!"
In the Bitcoin protocol, this validation process is called mining. For each block of transactions validated, the successful miner receives a bitcoin reward. Initially, this was set to be a 50 bitcoin reward. But for every 210,000 validated blocks (roughly, once every four years) the reward halves. This has happened just once, to date, and so the current reward for mining a block is 25 bitcoins ... Digital money that’s instant, private, and free from bank fees. Download our official wallet app and start using Bitcoin today. Read news, start mining, and buy BTC or BCH. According to the Bitcoin paper in order to do the simplified verification the client needs to store all headers of the entire chain but needs data only for those blocks that contain transactions of interest. The Bitcoin Protocol. In terms of the transaction creation and validation process, the Bitcoin Protocol can be stated as below: A new transaction is broadcast to all participating nodes in the ... Bitcoin Protocol Rules. The rules of the Bitcoin protocol are the rules that precisely define the Bitcoin system. There are different classes of rule in the Bitcoin system including: Immutable rules; Mutable rules Local Policies; Standard Policies; Communication rules; Immutable Rules. The immutable rules are codified into Bitcoin node clients and must be strictly adhered to in order to ...
Bitcoin Protocol Paper Playlist: http://www.youtube.com/watch?v=UieiMU-ImvI&list=PLQVvvaa0QuDcq2QME4pfeh0cE71mkb_qz&feature=share All Bitcoin Videos Playlist... David Gold explains bitcoin in the interview with Dushan Spalevich (October 2019) DISCLAIMER: Our video content is only for information purposes and does not... In this Bitcoin Protocol tutorial video, the Transactions section of the Bitcoin protocol paper is explained. Of course, however, with this proposed solution, we have another issue. We can for ... What is all the bitcoin fuzz about and where are we moving the next 5 years? Bitcoin as a currency has already been replicated into hundreds of other currencies such as Litecoin, Dogecoin and ... Bitcoin Protocol Paper Playlist: http://www.youtube.com/watch?v=UieiMU-ImvI&list=PLQVvvaa0QuDcq2QME4pfeh0cE71mkb_qz&feature=share All Bitcoin Videos Playlist...