Kvě 05

I Am Satoshi: Will Dr. Wright Cause Panic in the Bitcoin Markets?

Source: bitcoin

craig Wright

Will Craig Wight´s “I am Satoshi” claim cause people to panic sell their bitcoins? If he is Satoshi, then he controls a large supply of the total coins in existence and could sell them. The last two times in recent bitcoin history when there was a major news event, the price tanked and then recovered. It appears that until Wright moves some bitcoin that are from a block that Satoshi is known to control, people don´t care. At least they do not care enough to sell their bitcoin just yet. The price has been very flat compared to the reactions seen with the launch of XT and Mike Hearn´s departure announcement.

Also read: BitcoinAverage: The Evolution of an Index

Bitcoin XT

In the summer of 2015, Bitcoin XT was launched. August 18th just happened to be a day when some of the r/bitcoin mods were off as well, and the discussion about XT vs. Core went wild. The price crashed from 257$ to 162$ at Bitfinex. The exchange had so many people selling that there were problems with people closing leveraged positions. In total the launch of XT combined with exchange glitches caused a near $100 decline in the bitcoin price.

Hern Quits

With another Medium post, a hallmark of the Bitcoin debate, Hern announced his resignation from Bitcoin development, saying that it was time to move on. The blog post marked the end of Bitcoin XT and the start of Bitcoin Classic. The news caused enough uncertainty, and the price dropped from $429 to $351, then hitting $427 just days later at Bitfinex. After an approximate $80 decline in price, the markets recovered in a matter of days.

Craig Wright: ‘I am Satoshi’

You would think that another news event of similar proportions would cause a similar reaction. If Satoshi comes out now, will he or she sell some of the old bitcoins kept in his or her possession? Satoshi controls around one million bitcoins; selling even part of that on the open market would crash the price. As the news of Craig Wright’s “I am Satoshi” claim surfaced Monday morning, there was a selloff of about $15 on Bitfinex. Besides that, the market has been flat. A lot of people are waiting to see what happens and are tired of all the drama, highly skeptical of Wright’s claims.

However, if there is any movement of coins that Satoshi is known to control — for example from a block containing the Hal Finney transaction — or if he is able to sign a message using a real private key from the genesis block, then some people might panic and decide to sell their bitcoin with the fear that Satoshi could sell some of his and crash the market. Thus, with the markets awaiting further proof from Dr. Wright, we can expect a continuation of recent sideways activity — at least temporarily.

Would you sell your bitcoins if Craig Wright proves that he is, in fact, Satoshi? Let us know in the comments below!


Images courtesy of Forbes, Krach via TradingView.

The post I Am Satoshi: Will Dr. Wright Cause Panic in the Bitcoin Markets? appeared first on Bitcoinist.net.

I Am Satoshi: Will Dr. Wright Cause Panic in the Bitcoin Markets?

Share
Bře 17

C-bit: Bitcoin Core .12 ‘Clone’ Aims to End Block Size Debate

Source: bitcoin

C-bit

C-bit is an “exact clone” of Bitcoin Core .12 with one small modification aimed at ending the block size debate. This Core clone has a 2MB block size built into the source code. Developers say that this native 2MB block size “negates the need for a Bitcoin Core Hard Fork.”

Disclaimer: This article was provided by Bitcoin PR Buzz. Bitcoinist is not affiliated with the firms represented by Bitcoin PR Buzz and is not responsible for their products and/or services.

C-bit: A Modified Core Clone

C-bit operates on an independent and original blockchain. This blockchain can “develop independently to Bitcoin — becoming, in a more managed way, more centralized — while allowing the original Bitcoin to return to its decentralized version.”

Although C-bit paints itself as “more centralized,” the coin’s code is still open source. The coin’s website says that its open source status makes this Core clone “every bit as easy to work with a [sic] Bitcoin is.”

In addition to the 2MB block size, C-bit has slightly modified Core .12 so that it will have 210 million coins in total, with a block reward of of 500 coins. According to the developers, “If Bitcoin is the $100 bill, then C-bit is the $10 bill. C-bit could be the ‘walking around’ change.”

The team behind this coin says that their project should be sufficient to end the block size debate once and for all:

“With this new coin, the debate over whether Bitcoin Classic should any longer be forcing Bitcoin Core to convert, is over. Bitcoin Classic now has a coin at its immediate disposal that is tailor-made for its stated purposes and meets all of its requirements. If Bitcoin Classic wants Bitcoin Core with a 2-Meg block-size, then C-bit fits the bill, and is ready to do business with Bitcoin Classic.”

Developers want this new coin to become the “banking system,” with Bitcoin as the “decentralized ‘Central Bank.” With Bitcoin acting as a “Central vault or the holder of wealth,” C-bit can operate as a system of “smaller banks that act like branches to the Central Bank.” Developers believe that the C-bit “smaller bank system” will be more conducive to merchants and individual cash transfers.

The coin’s developers are also reportedly working on “Helix Technology,” a project aimed at combining Bitcoin and C-bit into a “DNA-type structure.” The developers say that “this structure has promise to vastly increase the speed, power, and memory capacity of the resulting intertwined Bitcoin and C-bit Blockchains.”

To learn more please go to:

C-bit has just begun trading on:

About Bitcoin PR Buzz:

Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin and digital currency Press Release. Click here for more information.

The post C-bit: Bitcoin Core .12 ‘Clone’ Aims to End Block Size Debate appeared first on Bitcoinist.net.

C-bit: Bitcoin Core .12 ‘Clone’ Aims to End Block Size Debate

Share
Úno 29

Bitcoinist Weekly News Re-Hash: Bitcoin Classic Gaining Steam

Source: bitcoin

news

This past week saw a lot of hot news stories coming from the Bitcoin community and the organizations powering the growth of the ecosystem. Bitcoin Classic appeared in the news a few times throughout the week, reminding us that the block size debate is far from over. In terms of price, not much happened at the macro level. Hardly any change took place between the open and close of the week, with the price falling less than one percent in total. However, the day-to-day activity certainly gave traders a lot to be excited about, with a lot of big declines and welcome gains.

Also read: Tendermint Thinks it Will Be Better Than Bitcoin 

Daily Bitcoin Price Action

  • February 22: $437.07
  • February 23: $437.96
  • February 24: $419
  • February 25: $419.92
  • February 26: $420.32
  • February 27: $431.46
  • February 28 Open: $424.81
  • February 28 Close: $436.65

Total Change: -0.10%

Weekly News Re-Hash: Bitcoin Core Gains Momentum

Our week began on Monday, February 22, 2015 with the bitcoin price at $437.07, holding on to the gains made in the previous week. Monday saw fairly calm market activity, the price hovering in the mid-to-high $430s. Bitcoin peaked at $440 in the evening, but quickly returned to that $430s range that characterized the day’s activity.

In the news, we reported on Multipool.us launching a Bitcoin Classic mining pool. Multipool.us dedicated on petahash of mining power to the Classic pool, which represents a large amount of mining support for Bitcoin Core’s newest competitor.

Tuesday started at $437.96, but would quickly fall dramatically. At 3 AM, the markets took a dive, and the bitcoin price fell from $435 at the top of the hour to $422 at the close, with an hourly low of $416. The price stayed in this lower range for the rest of the day, floating between the high $410s and the mid $420s.

Meanwhile, on Bitcoinist, we reported about the new release of Bitcoin Core version 0.12.0 and its new improvements. Additionally, we reported on a development from the Free Ross campaign. FreeRoss.org released a rare home video of Ross Ulbricht. The Free Ross campaign is ran by Ulbricht’s mother, who is fighting to help her son get an appeal for what they believe was an unfair sentencing for his involvement with Silk Road.

The 24th started out on a negative note, the price plunging from $419 to the low $410s in the opening hour of the day. Throughout the rest of the day, though, the markets staged a modest recovery from this dive, rising back into the mid $420s. Towards the end of the day, the price took a small dip, falling to the low $420s to close out the day.

More Bitcoin Classic news came to light on Wednesday the 24th. We reported that five Bitcoin ATM operators switched to Classic. Sumbits, Tobitcoin, Herocoin, Coinucopia and Bitlove switched to the Bitcoin Core competitor. This change affected 29 Bitcoin ATMs in North America.

Bitcoin mining pool F2Pool threatened to withdraw consensus support from the February 21 roundtable due to allegations regarding Adam Back’s self-designation as an “individual” rather than the CEO of BlockStream when announcing his support for consensus.

February 25 opened with the price at $419.22, almost no change over the start of the previous day. The markets stayed quiet during the 25th, staying well within the low $420s range.

In the news, we reported on newly-surfaced court documents suggesting that the United States Federal Bureau of Investigation and Carnegie Mellon University colluded to attack the TOR network. In November 2015, the Tor Project accused the FBI of paying $1 million USD to the university in exchange for its help in revealing users on the TOR network. These court documents at least partially confirmed these claims, reporting that the FBI did in fact use the university’s academic resources to aid in the takedown of the Silk Road 2.0 marketplace.

E-Coin announced a major rebranding, changing its name to Wirex and adding new services to its platform. These services, including a new mobile app and two-way bitcoin debit cards, are aimed at “bridging the gap between blockchain technology and traditional finance.”

Friday the 26th kicked off with the bitcoin price at $420.32, a little more than a dollar above the opening price on Thursday. The first half of the day saw extremely flat trading activity, with the price refusing to budge above or below $424. However, the price jumped upwards heading into the evening hours, reaching a peak of $435 at 7 PM. This explosion in buying leveled out, as the day came to a close, bringing the price down to the low $430s.

At Bitcoinist, we posted a new job listing. We are looking for a sales manager to lead the charge on securing ad deals for our website to help build revenue. We are looking for someone with experience in online sales who can help build one of the most trusted websites in the Bitcoin news industry.

Also on the 26th, popular wallet-exchange hybrid Coinbase published a blog post telling the public that it is “not a wallet.” Responding to criticism regarding the company’s privacy policies and exchange-hosted wallets in general, Coinbase explained that it is not meant to be a place to store large amounts of bitcoins. Instead, the company’s goal is to bridge the gap between the legacy financial system and the bitcoin economy, and then later evolving into a “retail exchange” as Bitcoin becomes more prominent in the mainstream.

February 27 started out at $431.46, a significant gain over the start of the previous day. Coming off the high of Friday’s rally, the markets stayed very calm for most of the day, with very little fluctuation in the bitcoin price. The fell into the mid $420s at 7 PM, though, where it would stay for the remainder of the night.

Sunday, February 28 began with the bitcoin price at $424.81, remaining in the mid $420s range following the late-day fall on Saturday. After minimal activity during the early morning hours, the markets picked up at 9 AM and the price began moving upwards. Bitcoin returned to the mid $430s and then plateaued at midday, staying in that range until the evening hours. The price began moving upwards again, climbing to $437. The day closed at $436.65, making for a very small decline of 0.10% for the entire week.

  What do you think will happen in the Bitcoin world in the coming week? Let us know in the comments below!

The post Bitcoinist Weekly News Re-Hash: Bitcoin Classic Gaining Steam appeared first on Bitcoinist.net.

Bitcoinist Weekly News Re-Hash: Bitcoin Classic Gaining Steam

Share
Úno 25

Chinese Mining Pool Lets Miners Weigh In on Bitcoin Core Vs. Bitcoin Classic Support

Source: bitcoin

Bitcoinist_Block Size Debate

The Bitcoin block size drama continues, as it has taken yet another interesting turn. Even though F2pool is considering removing their consensus support, the mining pool has also opened up their platform to feedback from individual miners regarding the 2MB block size increase. It is only due diligence to ask the opinion of the people who protect and secure the Bitcoin network every day.

Also read: BitLox: ‘Indestructible’ Hardware Bitcoin Wallet

F2Pool Asks The Miners What They Think

Despite the Bitcoin block size debate going on for quite some time now, hardly anyone has ever considered asking the miners what they think. Nearly all of the focus has been on the developers – from both Bitcoin Core and Bitcoin Classic – as well as the mining pool owners complaining how larger blocks will make their business a lot harder to manage.

All of that is fine and dandy, and those discussions need to take place at some point. But at the same time, a lot of people have lost track of which parties made to the Bitcoin network into what it is today, and those individuals are the miners. Without people mining Bitcoin, the network would become vulnerable, and no transactions would be processed. In fact, the entire ecosystem would grind to a halt.

F2Pool is the very first – and so far only – mining pool to ask the opinion of their miners as to how they feel about the 2MB block size increase. While some people may argue the miners will not be directly affected by a block size increase, the future of Bitcoin and its development is of the utmost importance to them as well.

Bitcoin community members and developers have commended F2Pool for taking this action while trying to push political agendas at the same time. It seems rather difficult to have a debate on the Bitcoin ecosystem without referring to either Bitcoin Core or Bitcoin Classic software solutions these days.

Furthermore, it didn’t take long until people started spewing allegations as to how F2Pool is running Bitcoin Core and does not even offer Bitcoin Classic support right now. This is – allegedly – a clear hint as to how they see the future of Bitcoin and its development, which would directly influence the miners’ decision.

Roundtable Agreement Is Useless

While nearly all of the Bitcoin mining pools came to some consensus on the block size debate during a recent Roundtable meeting, it looks like things are starting to unravel fast. Not only is F2Pool threatening to remove their consensus support unless Blockstream and Adan Back come clean, but community members are questioning the legitimacy and usefulness of this agreement.

In the end, a roundtable agreement behind closed doors by a select few individuals holds no validity in the Bitcoin world. Majority consensus cannot be reached by enforcing a particular solution upon the people who make up this community. This story is far from over, and in the end, the community will have the final word, not the “chosen few” who think they can make every decision in this space.

What are your thoughts on F2Pool asking miners’ opinions? Will other pools follow by example? Let us know in the comments below!

Source: Twitter

Images courtesy of Shutterstock

The post Chinese Mining Pool Lets Miners Weigh In on Bitcoin Core Vs. Bitcoin Classic Support appeared first on Bitcoinist.net.

Chinese Mining Pool Lets Miners Weigh In on Bitcoin Core Vs. Bitcoin Classic Support

Share
Úno 23

Bitcoin Core 0.12.0 Brings Lots of Improvements





Source: bitcoin

Bitcoinist_Development

With the Bitcoin block size debate in full effect to this very day, development of the Bitcoin protocol has to carry on regardless of political agendas. The Bitcoin Core developers have released their new client, which offers a ton of significant additions and features. It is important to stick to a particular schedule, regardless of the block size debate. These new changes pave the way for full focus on increasing the block size through Segregated Witness come April.

Also read: D+H: Making the Case for Private Blockchains

The Bitcoin Core 0.12.0 Release Notes

After thoroughly testing various release candidates for the Bitcoin Core 0.12.0 release, the development team has finally released the new client to the public. A lot of hours and work has been put into bringing these updates and features to the Bitcoin community, and the list of significant improvements is rather lengthy.

One of the biggest updates comes in the form of faster signature validation, a process that has been sped up by 700%. Decoupling OpenSSL from Bitcoin Core was not an easy feat; and the simpler and more focused alternative brings additional advantages to this client. Libsecp256k1, as this solution is called, has been in development for five years, and will validate ECDSA signatures at a much faster pace than OpenSSL will be able to.

Bitcoin Node users will be pleased to hear they will finally be able to limit the upload traffic generated by the software client. This is an issue to some users, whereas others are not encumbered by bandwidth caps put in place by their ISP. Offering a function to limit bandwidth usage is a great way to invite more people to run a Bitcoin node in the future, as they won’t have to worry about monitoring bandwidth.

Low transaction fees can leave bitcoin transfers stuck for an extended period, as they are not prioritized by the miners. Paying a fee that is too high is not a solution either, as it will result in a draining of funds. Opt-in Replace-by-Fee is a new feature that lets senders configure transactions which can be replaced later on with a transfer that includes a higher fee. In a way, this will minimize senders fee while maximizing chances of transfers getting included in the next block.

The feature a lot of people have been looking forward to is the integration of Tor in Bitcoin Core. Bitcoin Nodes will detect if Tor is running, and create hidden service if this is the case. Moreover, the Bitcoin Nodes will connect to other nodes in the Tor network, without requiring any manual configuration by the Bitcoin Core user.

Other new features include fixes that will prevent the Bitcoin Core from crashing, relay transactions in a more efficient way, and reduce disk usage for wallet users. Additionally, miners will be able to assemble blocks a lot faster, and Applications can subscribe to Bitcoin Core notifications.

Taking The Fight To Bitcoin Classic

This release of the new Bitcoin Core client comes at an opportune time, as the discussion regarding the block size debate is heating up once again. Bitcoin Classic seems to be gaining a lot of support from the mining community, although it is still far too early to cry victory.

With all of these improvements made to the Bitcoin Core client, running a Bitcoin Node has become a lot more simple and efficient. Whether or not this will result in more network nodes over the coming months, remains to be seen. One thing’s for sure, though: Bitcoin Core developers can now focus on Segregated Witness and the upcoming hard fork.

What are your thoughts on the new Bitcoin Core client? Are you excited about its features? Let us know in the comments below!

Source: Bitcoin Core

Images courtesy of Bitcoin Core, Shutterstock

The post Bitcoin Core 0.12.0 Brings Lots of Improvements appeared first on Bitcoinist.net.

Bitcoin Core 0.12.0 Brings Lots of Improvements

Share
Úno 22

What’s Causing Bitcoin’s Current Bullish Run?

Source: bitcoin

What’s Causing Bitcoin’s Current Bullish Run?

The price of Bitcoin has been trending upwards for the past couple days giving some people the opinion that it is in a bullish phase. The value of the cryptocurrency has been quite eventful as it had been sitting at USD $375 over the past couple of weeks until just recently bumping up over the $400 mark. On the 21st of February, the price had touched $450 per BTC and seemed to be edging towards the $500 mark. However, the market value hit resistance and now is hovering in the $425-435 range.

Also read: Linux Mint Backdoor Puts Users and Bitcoin Miners at Risk

Bitcoin’s Bullish Run Trends Upwards

A few publications including Forbes believe that it’s possible the recent Miners agreement, and the Bitcoin Classic node adoption has increased the price. Sentiment has seemed to be in good spirits from some camps and others have been negative about the two subjects. Speculation on the fact that these two proposals are lifting the price doesn’t seem to be the case as both sides still have disagreements. The early discussions of consensus possibly coming to a conclusion could be making the price rally, but it’s not too clear if this is the reasoning behind it. There have been a few positive write-ups by mainstream media at times but nothing too sensational that has seemed to be the direct cause of the price spike.

Others have felt that institutional awareness has brought the price up a touch from corporate entities such as Microsoft and IBM. However, these two companies in particular and a whole slew of other businesses have clearly established they are not too interested in the Bitcoin blockchain. Most of these firms are creating and using other distributed ledgers that are permissioned by design. Some are using altcoin blockchains such as Ethereum, and this has caused a spike in price with ETH bringing it just below Bitcoin’s market capitalization.

As said above a few Bitcoin announcements have been made that have created enthusiasm within the crypto-community such as Steam integrating the digital currency. Other announcements like the fast-food restaurant Burger King accepting the virtual money in “Bitcoin City” of Arnhem has also made headlines. One positive outcome this past week was an announcement from Kraken explaining that the Mt Gox bankruptcy claims were moving along making “significant progress.” 21inc has revealed some new Bitcoin developments with its 21 computer such as a fee prediction service and micropayment platform. Despite the few announcements concerning the digital currency most news in the industry pertained to just blockchain technology.

As the Bitcoin Reward Halving Approaches Hashrate Decreases

The Bitcoin price after rallying to the $450 mark has corrected but shows there still may be some uptrend in the near future. There could possibly be a second spike shortly with current Relative Strength Index (RSI) levels looking positive. The value could still make it to the sought after $500 mark this week if it can eat through market resistance. The weekly chart looks like a steady bullish trend, and the 4-hour chart look as though there may be a breakout but it may go downward.

The upcoming reward halving is taking place soon, and miners are getting prepared for this as we speak. Many believe there currently is a shift in the mining space due to the changes coming, and some say this has, in turn, lowered the hashrate at the moment. At press time, we are seeing a slight advance from last night’s drop so a second run up may be coming soon. Currently, the price is at $438 per BTC via Bitstamp at the time of this writing.

 

What do you think about what’s causing the upswing in Bitcoin price? Let us know in the comments below.


Images courtesy of Pixbay, Blockchain.info, and BitcoinCharts.com

 

The post What’s Causing Bitcoin’s Current Bullish Run? appeared first on Bitcoinist.net.

What’s Causing Bitcoin’s Current Bullish Run?

Share
Úno 22

Multipool.us Launches Bitcoin Classic Mining Pool As Network Hashrate Decreases

Source: bitcoin

Bitcoinist_Bitcoin Classic

By the look of things, support for Bitcoin Classic is growing in the mining scene, as Multipool.us has opened up a new mining pool for this so-called “altcoin”. With over one petahash of mining power directed to this Bitcoin Classic pool alone, the competition with Bitcoin Core is being taken to a whole new level. However, only three blocks have been mined so far, and there is still a long way to go before Multipool.us will become a major contender.

Also read: Lisk Announces ICO With ShapeShift, Dapps Made Easy

Multipool.US Supports Bitcoin Classic Mining

While it is positive to see further competition between developmental solutions, the big question is how much effect these mining pools will have overall. Not just regarding adopting Bitcoin Classic itself, but also how they let miners generate these “alternative” blocks on the network.

So far, only three Bitcoin Classic blocks have been mined on the network, between the dates of October 28, 2015, and right now. That is not a great sign to stimulate adoption of this alternative development solution to the Bitcoin block size debate. After all, Bitcoin Classic will not activate the block size increase unless they reach a large majority of the network hashpower.

That situation might be getting one step closer to reality in the near future, though, as Multipool.us has opened up their Bitcoin Classic mining pool. Based on the statistics at the time of publication, their BTC_C mining pool has over one petahash of mining power pointed towards it, which is quite a margin.

With over 40 users active on the Multipool.us Bitcoin Classic pool already, there appears to be a growing demand for mining pools supporting this solution. It will be quite difficult to reach a majority mining consensus on the Bitcoin network, though, but over one petahash of mining, support is a big step in the right direction.

Multipool.us is not the first to launch a Bitcoin Classic mining pool either. A topic has surfaced on the Bitcoin.com forum detailing how interested miners can solo mine on a particular server without running their own node. This pool has over one petahash of hashpower as well and operates on a 1% fee structure.

Bitcoin Hashrate Is Decreasing

As these Bitcoin Classic mining pools seem to gain more popularity, the overall Bitcoin mining power appears to be decreasing. The way things stand right now, BitcoinWisdom is reporting slightly over 1.5 petahash for the entire Bitcoin network, which would mean Bitcoin Classic mining is at close to 100% of the total mining capacity.

The statistics project by Multipool and the other mining pool can not be entirely correct, as they seem to display the total network hashrate rather than the dedicated numbers for their own mining pools. However, the decline in overall Bitcoin hashrate can not be denied, as things are starting to drop off slowly for some unknown reason.

What are your thoughts on these new Bitcoin Classic mining pools popping up? Will the miners favor this solution over Bitcoin Core? Let us know in the comments below!

Source: Multipool.us

Images courtesy of Multipool, Shutterstock

The post Multipool.us Launches Bitcoin Classic Mining Pool As Network Hashrate Decreases appeared first on Bitcoinist.net.

Multipool.us Launches Bitcoin Classic Mining Pool As Network Hashrate Decreases

Share
Úno 15

Running A Bitcoin Node On Synology Disk Station Manager

Source: bitcoin

Bitcoinist_Global Map

There are plenty of opportunities for users looking to run a full Bitcoin Node. Technological advancements make even the tiniest of hardware powerful enough to read the entire blockchain and process Bitcoin transactions. A recent post on the Bitcoin.com forums shows how one can even run a Bitcoin Node on Synology Disk Station. Needless to say, more Bitcoin nodes are always welcome.

Also read: PBOC Governor Speaks About Digital Currencies

Synology Disk Station As a Bitcoin Node

It doesn’t take much to transform existing technology into something that can be used for Bitcoin Node purposes. As long as the device has internet connection capabilities, and enough disk space to store the entire Bitcoin blockchain, you are almost set. Even a Raspberry Pi 2 can become a working Bitcoin Node with very little effort, which just goes to show how far the world has come due to technological advancements.

For those people who use Synology Disk Station Manager – and run the latest version – they may have noticed how support for Docker has been enabled. While most people will never use Docker for anything, this opens up exciting opportunities for those people looking to experiment with a Bitcoin Node.

All one needs to do is install the Docker package, and complete the process. Once the installation of Docker has been finalized, a search box will appear at the top of the screen, where users need to search for “bitcoinclassic”. Two results will appear, with the top on mention “Bitcoin Classic node” in the description. The other result is something entirely different, which can be ignored for now.

Hitting the ‘Download” button will start an image transfer process, which can take up a bit of time depending on one’s Internet connection speed. As soon as the download has been completed, it will become selectable, and users will need to highlight it to launch it through the internal software wizard. Several steps will need to be completed, including whether or not resources need to be limited, and if they want to create a desktop shortcut for the Bitcoin node.

Not A Perfect Solution

The entire process takes a few minutes to complete at most. However, additional steps might be needed to make the Bitcoin Node accessible to other people, such as forwarding port 8333 on one’s router. While this concept is very simple to complete, there are still some issues that need to be worked out.

For example, using this method will not show the number of active network connections from the Synology Disk Station management software itself. Additionally, rebooting the machine may result in having to download the entire blockchain again, which could be a pain in the rear. However, as more people use this solution to set up their Bitcoin node, those issues might be resolved sooner or later.

What are your thoughts on creatively using Synology Disk Station software to run a Bitcoin Node? Let us know in the comments below!

Source: Bitcoin Forum

Images courtesy of Shutterstock, Synology

The post Running A Bitcoin Node On Synology Disk Station Manager appeared first on Bitcoinist.net.

Running A Bitcoin Node On Synology Disk Station Manager

Share
Úno 01

Antpool Announces Bitcoin Classic Beta Testing

Source: bitcoin

Bitcoinist_Beta Testing Bitcoin Classic

The ongoing Bitcoin block size debate has been a source for a fair bit of controversy and discussion in recent months, but it finally looks like a decision is just around the corner. With Bitcoin Core having to address some security concerns regarding segwit, and Bitcoin Classic going into beta testing today, developers are off to the races to compile a properly secured block size solution. Antpool is upping the game by announcing beta testing of Bitcoin Classic.

Also read: Gamerholic, the Next ‘Billion Dollar Gaming Company’? A Q&A With Anari Sengbe

Antpool Starts Bitcoin Classic Beta Trial

It was only a matter of time until the Bitcoin Classic proposal started showing what it is all about, and a beta version of the client has been released. The main goal of this proposal is to increase the Bitcoin block size to 2MB, but use a hard fork to do so. Various community members are worried this is too risky of a solution, as there are some downsides to hard forking Bitcoin.

At the same time, security questions have arose regarding the Bitcoin Core solution and its Segregated Witness implementation. While this soft fork approach is far less risky for the network than implementing a hard fork, the current version of segwit is far from optimal. Especially the Chinese mining pools are questioning this proposal, and seem to be more in favor of Bitcoin Classic right now.

So much even that Antminer CEO Wu Jihan reported how Antpool will be implementing the Bitcoin Classic beta client very soon. Performing a real life stress test of this proposal will tell whether or not this is a viable idea to solve the Bitcoin block size debate once and for all. Keeping in mind how Antpool is one of the largest Bitcoin mining pools in the world, a successful test may result in other pools adopting Bitcoin Classic in its beta form as well.

Other major mining pools pledging support for Bitcoin Classic in the past include BW and BitFury. Furthermore, mining hardware manufacturers KnCMiner and Avalon have also expressed their preference for this solution, as has cloud mining provider Genesis Mining. Plus, with so many major companies in the Bitcoin world supporting Bitcoin Classic as well, it seems as if this solution will be the one to keep an eye on. However, it is still too early to tell, as a lot will hinge on the results of the beta testing.

Addressing Segwit Security Worries

There are a few different concerns regarding the effectiveness of Segregated Witness if it were to be implemented in Bitcoin at all. Even though this proposal is aimed at creating 2 MB blocks, the effective size would be somewhere between 1.3 MB and 1.6 MB. Needless to say, this is not a perfect solution, although it would allow for slightly more transactions per block.

Additionally, segwit would require developers to make major changes to the source code of Bitcoin Core. Making these changes could lead into a whole slew of different problems down the road, which should be avoided at all costs. Especially when keeping in mind how Bitcoin Core developers are working through a backlog already before even thinking about implementing these new features.

What are your thoughts on Antpool starting the Bitcoin Classic beta testing soon? Will other pools or service providers follow their example? Let us know in the comments below!

Source: Weibo

Images courtesy of Shutterstock, Antpool

The post Antpool Announces Bitcoin Classic Beta Testing appeared first on Bitcoinist.net.

Antpool Announces Bitcoin Classic Beta Testing

Share
Led 20

TNABC 2016 Ticket Giveaway Closed: The Winner Has Been Chosen!

Source: bitcoin

tnabc

Editor’s note: If you receive an email saying that you are a winner, you will be asked to provide us with your full name. That way, you will be added to the list, and will be permitted entry upon arriving at the TNABC 2016 venue. 

The North American Bitcoin Conference’s (TNABC) 2016 Miami event will kick off tomorrow, January 21. This conference is sure to be a good one; famous names in the Bitcoin community will give talks during the two-day event, including Patrick Byrne, Brock Pierce, Bobby Lee, Jerry Brito, Bruce Fenton, and Tone Vays. On January 15, 2016, we opened a competition to give away a free ticket to the event. This giveaway was a great opportunity to gain access to the conference, as the only tickets left for sale were the $349 USD “Last Minute Tickets. ” Today, the giveaway is closed, and a winner has been chosen. 

Also read: Bitcoin Helps Consumers Transition To Cashless Payments

TNABC 2016 Ticket Giveaway

To enter the giveaway, all our readers had to do was sign up for our daily newsletter. After signing up for our newsletter, readers would get daily emails from us with information relevant to our website and the news we cover. We randomly selected a winner from the list of email subscriptions that came in.

The North American Bitcoin Conference is one of the most popular annual events in the Bitcoin community. The Miami meetup always features big names in the Bitcoin industry, such as high profile Bitcoin entrepreneurs and protocol developers. TNABC has been the site for big announcements for innovations and businesses since its inception — and this year will likely not be any different. With the Bitcoin block size debate in full swing, and the recent proposal of Bitcoin Classic, the discussions attendees will find at TNABC 2016 are sure to be interesting in the very least.

We hope our ticket winner enjoys their time at TNABC 2016. Please keep coming back to Bitcoinist for the best crypto-industry news and more high quality giveaways.

Are you attending The North American Bitcoin Conference 2016 in Miami? Let us know in the comments below!


Images courtesy of The North American Bitcoin Conference. 

The post TNABC 2016 Ticket Giveaway Closed: The Winner Has Been Chosen! appeared first on Bitcoinist.net.

TNABC 2016 Ticket Giveaway Closed: The Winner Has Been Chosen!

Share