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Wit Bitcoin private keys, your wallet security is your own responsibility. Is it safe to use Trezor with Exodus? Is there any disadvantage to this setup? Who sets the mining fee here, Trezor or Exodus?
"every time someone asks for an app using bitcoin it’s either already part of the BSV economy or can only possibly exist on the BSV mining network, it’s quite obvious by now which bitcoin is the real one and who is satoshi nakamoto"
08-25 10:42 - 'Who or what's driving bitcoins use? All of the above. / Commerce, Remittance, Speculation etc etc / A better question to me is, why are miners, the same miners Roger supports heavily, mining empty blocks but complaining b...' by /u/TwoWeeksFromNow removed from /r/Bitcoin within 0-7min
An email from a concerned friend who got into Bitcoin in 2010 and successfully mined blocks using their CPUs. I have similar concerns, hence the repost here (with permission).
Hey X and Y Are you two aware that the Bitcoin Core devs are making big changes to the bitcoin network which fundamentally change the economics of bitcoin and what you can and can't do with bitcoin? If people continue to use the Bitcoin Core software many of the things that we know work well in the bitcoin network, are going to be discarded and replaced with other things which may or may not work. It's quite upsetting for me. I've watched Bitcoin make it this far and now it's like it's being torn apart in front of my eyes, largely by Blockstream and Viacoin employees/founders who develop Bitcoin Core. These people have a serious conflict of interest and they are clearly acting on that conflict. At this point the only core devs I trust are: Gavin Andresen, Jeff Garzik and Mike Hearn. Of those 3, both Gavin and Hearn have been ostracized out of Bitcoin Core development and I think Jeff will be soon too as he clearly is pushing back against the agenda of the problematic Bitcoin Core devs (eg Peter Todd, Luke JR and G Maxwell). One example of the destructive things the Core devs are doing is this: Peter Todd is pushing for something called Full-RBF. 0-conf transactions are an essential part of the Bitcoin ecosystem. They are used widely by many businesses (eg ShapeShift.io). There are risks associated with accepting 0-conf transactions, but those risks can be mitigated and managed. Full-RBF will vastly decrease the usefulness of 0-conf transactions. Peter Todd is literally adding code to Bitcoin Core that damages Bitcoin. If they achieve their goal of getting a significant number of miners using Bitcoin Core with Full-RBF mode enabled, it will no longer be practical to use Bitcoin in stores to pay for goods as you will be forced to wait for 1 confirmation. People will be forced into off-chain solutions (eg Coinbase.com offchain transactions). It will no longer be safe for the shop keeper to accept bitcoin transactions from SPV wallets (eg Breadwallet). With Full RBF, 0-conf transactions will become something you can only rely on for: * trading with trustworthy people (eg friends, family and businesses you have an established relationship with) * signalling that your transaction has entered the network (not that it will likely confirm). Todd has already successfully committed code to Bitcoin Core's master branch that performs something called Opt-in Full-RBF. This Opt-in Full-RBF isn't as bad as Full RBF, but it has a whole bunch of really negative repercussions. The main ones being: * it makes Bitcoin more complicated for novice users to understand * it increases the complexity of wallets * it makes it more likely that novice users will be scammed Also: the term "opt-in" is very (and probably deliberately) misleading. The sender of the transaction opts-in to creating a transaction, but the receiver does not opt-in. Wallet devs will also be forced to make changes to deal with this new transaction type if Bitcoin Core continues to be used. They will be forced to add weird messages to their wallet software which say something like: "You have received an RBF transaction. Unlike normal transactions, RBF transactions can be more easily double spent. If you are unsure what this means, you should wait for at least 1 confirmation." In-fact. That lengthy message doesn't even give the user all the info they need to know. It doesn't explain why they might have received the RBF transaction: * are they under attack? * is the sender trying to bump their transaction fee? * is the senders wallet software misconfigured? It adds a layer of complexity which is completely unnecessary. Another thing they are doing is unnecessarily keeping the maximum block size capped at 1MiB. 1MiB was always widely understood to be a temporary limit to stop the blockchain getting too bloated in the early days of the currency. It kept the network cheap to run and easy to join. Keeping it stuck this low now that we are hitting that limit regularly is going to cause what Jeff Garzik refers to as an "Economic Change Event" (ECE). You can read about it here: https://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-Decembe011973.html This ECE is going to materialize as absolute havoc on the network; probably within the next 6 months. There will be many frustrated users on account of stuck/delayed transactions. It will become far more expensive to send transactions. Many people will sell their Bitcoin holdings causing the price to drop. Many people will simply not understand what is happening and out of fear and uncertainty they will sell off their holdings. Businesses that relied on cheap transactions will close up shop. Mainstream media will [correctly] portray Bitcoin as a failed attempt at creating a global currency. The growth of Bitcoin will be stumped. I've heard probably every single reasoned argument related to the blocksize debate and it is abundantly obvious to me that it's perfectly safe to increase the maximum blocksize. Anyway. I wanted to let you guys know what I think about what's going on. I'd be interested to know if you share any of my concerns or if this is the first you're hearing about these issues. If you agree with me I strongly urge you to avoid using the Bitcoin Core software and advise others not to use it either. There are 3 decent full-node alternatives to choose from and soon there will soon be a forth: btcd: https://opensource.conformal.com/wiki/btcd Bitcoin Unlimited: http://www.bitcoinunlimited.info/ Bitcoin XT: https://bitcoinxt.software/ Toshi: https://toshi.io/ [Warning: BETA software] Also, you should avoid the following heavily censored websites: bitcoin.org reddit.com/bitcoin bitcointalk.org There are decent replacements for those sites/pages where you can freely discuss these issues without being banned/muted: https://www.bitcoin.comhttps://forum.bitcoin.com/https://reddit.com/btchttps://bitco.in/forum/https://letstalkbitcoin.com/forum/ Hope you are both well, Z
Just a reminder that if the 4 exahash that came online on Bitcoin.com is the new 7 nm miners, well they are using less power for the same hashrate which changes the profitability calculation. It allows them to mine longer at a loss then SV miners who don't have 7nm miners. /r/btc
If miners are used to validate transactions and rewarded with bitcoin, who will validate in the future when it's mined out?
So currently are all validations made through miners? Miners are have incentive to mine because their reward is bitcoin right? But when all the bitcoin in the world is mined, then why would there be miners?
Just curious question to throw out there for the players who also are knowledgeable about bitcoins. Jagex is owned by a Chinese corporation so is it possible that the osrs system could be used to mine?
Bitcoin Mining: Environmental Impact Not as Bad as Skeptics Claim. Le Calvez’s conclusion conflicts with less rosy outlooks for Bitcoin as a massive energy-consumption effort. The carbon footprint of Bitcoin is real, but the hysterical proclamations that it’s using more energy than certain countries are both overblown and leave out important factors. The environmental concerns about ... Bitcoin mining uses too much energy. Contents. 1 Bitcoin mining uses too much energy; 2 The PIVX solution: Do away with mining all together; 3 The Spectre of Bitmain and the man behind it; 4 DigiByte and DigiShield, multi-algorithm protection; 5 ASIC mining leads to centralization; 6 Resisting the ASIC invasion; 7 Summing it all up; You may have heard this argument before, but Bitcoin mining ... Bitcoin Use 3: Day to Day Purchasing of Normal Goods. While the above uses are special-interest uses, the average bitcoin user will simply use bitcoin to normal purchase goods from online (or even physical) retailers. As the bitcoin market size grows, this will become increasingly common – the monetary value of bitcoin will (theoretically ... Bitcoin Mining ist der Prozess, bei dem neue Bitcoins erstellt werden. Die Mining-Maschinen lösen dafür komplexe mathematische Probleme, um die Gültigkeit einer Transaktion zu entscheiden, die entweder einen kontinuierlichen Betrieb von GPU-, CPU- oder ASIC-Hardware erfordert. Wenn jemand dem Kryptowährungs-Mining-Markt beitreten möchte, aber nicht unbedingt dem Lärm und der Hitze ... Bitcoin Uses a Lot of Energy, But Gold Mining Uses More By Vladimir Jelisavcic. Much has been written about the large amount of electricity required to mine Bitcoin. There is no doubt that the amount of power consumed by Bitcoin mining is large in absolute terms, but it’s worth putting into perspective. Bitcoin isn’t a country, so its energy usage really shouldn’t be compared to the ...
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