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General discussion about the system. News, the Swiftcoin community, innovations, the general environment, etc. Discussion of specific Swiftcoin-related services usually belongs in other sections.

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Discussion on how politics affect Swiftcoin and other cryptocurrencies. Discuss philosophy, news items and social issues here. All comments should be kept on-topic. 25 posts required to post here.

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Latest Bitcoin News

  • Do the miners need the Bitcoin users?

    I think we need to evaluate the users value in this experiment. Let's list the benefits of having users in this Bitcoin network. ~ Users generate transactions, which generates miners fees. ~ Users create services that accepts bitcoins as a payment option. ~ Users use services {Merchants} that accepts Bitcoin. ~ Users spread the word about Bitcoin. {Bitcoin Meetups & posting on forums} ~ Users create demand for bitcoins and this increase the value {price} Let's list some more contributions that Bitcoin users bring to the table for this experiment to work. Once we have seen the value they bring, we will know how to make a success of this.

  • how to split forked coins

    If bitcoin forks, then how do you split your coins? If you have the private keys in your control, you would need to import the keys into a wallet that's designed to split coins. What wallet is that?  I haven't heard of one.  By the way, I use a mobile wallet.  Like a lot of bitcoin users (probably most, actually) I don't sync the Bitcoin blockchain on my computer. Otherwise, you would have to find an exchange that splits keys. What worries me is this scenario: 1.  I store my coins locally, with control of my own private keys. 2.  The chain forks. 3.  I can't find a wallet that splits coins. 4.  I find an exchange that splits coins, but it turns out that you had to have your coins on the exchange before the fork; they won't split coins sent to them after the fork, even if the coins are older than the fork. I see no discussion of these challenges.  Have you solved it, or even considered the problem seriously?

  • Mining Contract Question?

    Hello everyone, I have a question.  I am looking at a few 24 hour mining contracts.  What I was wondering is this, how much would a 2.1 TH/s miner and 4.5 TH/s miner mine in 1 24 hours period?.  It would be connected to the antpool mining pool.   If anyone could give me an est.,  that would be great

  • The real battle and the dark future of bitcoin

    No, it is not about your silly scaling issues or other internal politics. The battle I talk about is still far way, but it is inevitable. It is when bitcoin comes out of its darknet markets, its amusing mathematics, its online life and faces the real world of salary payments, utility bills, loan payments, school and college payments, buying home, car, groceries and gadgets. That's how a common man interacts with money and payments. There is a spoilt, rebellious kid who was never taught any manners or real world skills, but extremely pampered and praised all along in his fortified play room, and then on one fine day he was pushed out to face the real world. What's the issue here? The issue is deep enough to lie at the philosophy of the bitcoin. It hits right where all good things for bitcoin come from. The little kid faces two strangers on the street - the tax man and the government. The little kid says "I don't need you. I don't need to show my money or transactions to you". Then a criminal emerges from shadows, points a gun at the kid, snatches his bitcoin wallet and disappears. The kid cries and blames government for not protecting him. Then the kid finally learns some manners the hard way, and agrees to pay taxes on his bitcoin income. And agrees to show all his transactions. And wallet details. People are now forced to use a single bitcoin address per person and that address is linked to their passport and their other national identities. Every bitcoin transaction must go through a government verification for identifying the parties involved. All good. All lived happily ever after. Wait, the kid then wonders - why am I using bitcoin? with all the extra difficulty. Oh, that's because it is mathematically beautiful. isn't it? Those 64 hex letters with random beauty. Ah, I can keep looking at them admiring their beauty forever. The human society has come a long way through the jungle life, cave life, tribal settlements, civilisations, cities, nations and governments. Bitcoin, while appearing to be ultra high-tech, full with mathematics and cryptography, it is essentially a throw back to jungle life as far as the social life and governance is concerned. Bitcoin abhors governance. It ignores the need to know each other. It rejects monitoring and traceability. It want to break the government and thereby it encourages the law of jungle. So, you say that tax man need not be concerned about your bitcoin income. Okay, so how should we tax people? How should businesses pay tax? We need tax to support government and community development. And we need government. Lack of tracking in money movement clashes with the very existence of government. Enforcing tracking in bitcoin shakes the very foundations of bitcoin. That's the battle I was talking about. The new kid on the block has no way of fighting it. Forget winning. I won't be surprised if all the bitcoin owners could be seen as criminals, and forced to do only darknet transactions forever. Meanwhile, the kid will have lots of fun in his mathematical cradle, playing with his crypto toys, and musical noise and excitements blaring from online forums while a crowd of crypto coin babies sing and dance around him, and pooping everywhere. All this happening in a casino, where all the people amazed by their smartphone and internet magic, keep placing bets on which baby will poop next. Cryptography and math are pure and invincible. Worshipping them, is no different from worshipping a rock, fire or the Sun. Humans are biological creatures. All value traces down to biological comfort and well-being. Meet the real world. Get real.

  • Should we do Bitcoin transactions at this moment?

    BIP91 is activated and top of the forum it says Quote News: Due to BIP91, it would starting now be prudent to require 5 times more confirmations than usual before trusting transactions. Why do we have to trust transactions with 5+ more confirms and not 1?Is there a chance that i send some bitcoin at this moment and the bitcoins gets lost? How long to wait till it's safe to do transactions?There are not much unconfirmed tx too https://blockchain.info/unconfirmed-transactions why people are not making transactions today

  • Should I invest On BITCOIN right Now or Later

    Should I invest On BITCOIN right Now or Later of August 1. Or  Should I go with Altcoin, If Altcoin Than Which Altcoin is Best for long run investment like 1 year .Please mention the altcoin names As being a newbies your advised will be Very helpful to me in long run .

  • Bloomberg Interview: Bitcoin's Future is Bright and the Moral Hazards of ICOs

    Enjoy https://www.bloomberg.com/news/videos/2017-07-21/iohk-ceo-hoskinson-sees-bright-future-for-bitcoin-video

  • What's Core's stance on the upcoming 2MB block size increase in November?

    BIP91 is now active which not only means that we're getting SegWit, but also an increase in block size. What does Core think of this compromise? Will there be 3 forks of Bitcoin by November? (Segwit+2MB, Segwit, BCC)

  • BIP91 Lock-in Does Not Guarantee a Swift SegWit Activation on the Bitcoin Networ

    Where Do We Go From Here After Locking in BIP91? Locking in BIP91 was an enormous feat. It required over 80% of the total hashpower to signal intent for this solution, and one can safely say the mining pools and community came together for the greater good. At the same time, this was only a small victory in a lengthy war and things are not set in stone.  With the lock-in secured, the Bitcoin network is now in a grace period. There will be a period of time until non-SegWit blocks are rejected by the network. This is a big change, even though the majority of the network is seeming to signal SegWit blocks. SegWit2x and USF signals are both considered “valid,” whereas pools or miners signaling Bitcoin Unlimited, for example, will see their blocks rejected. This rejection period will go into effect very soon. Despite all of this positive momentum, there is no guarantee for a successful SegWit activation. It could be activated instead as BIP141. While BIP91 signals intent to support BIP141’s SegWit, it is merely based on hashpower. If mining pools and miners were to pull out suddenly, there would be nothing anyone could do to prevent it. Considering how very few economic nodes support BIP91 right now, it seems unlikely we will see a “pure” activation of Segregated Witness. If the majority of miners changed their mind, they would risk being forked off the main Bitcoin blockchain. That would result in the chain split people are so desperately trying to avoid. BIP91 was introduced to make SegWit2x and the UASF compatible to avoid a chain split. However, it could end up being the catalyst for an actual network split, which is still a possible outcome at this stage. For the time being, there is no evidence to suggest that miners would suddenly turn their backs on BIP91. However, just because this small milestone has been reached does not mean everything will be smooth sailing. The miners will follow the largest chain, regardless of whether or not it supports “pure” Segregated Witness. It also means the minority supporting the BIP91 soft fork can be ignored by the rest of the network in a few weeks from now. This “public intent to signal for something” is nothing more than an empty promise by miners and mining pools. Now is the time for these individuals to put their money where their mouth is and make Bitcoin scale properly, regardless of political shenanigans.  Assuming things remain as they are now, we will see the first steps toward activating SegWit in about a week’s time. https://themerkle.com/bip91-lock-in-does-not-guarantee-a-swift-segwit-activation-on-the-bitcoin-network/amp/

  • What is with all these BIPs. Do most people on here know what it means?

    I keeps seeing BIP148, BIP91, BIP1, BIP... BIP BIP BIP. What is with all these BIPs and what do they mean? Is the number after it just an arbitrary number or is there a bigger meaning? Sorry if this is a stupid question, but I'm a noob and sometimes I get these mixed up with block sizes and all the hard forks, soft forks, hard spoons, and soft spoons. Ahhhhhh! (okay, I was kidding about the spoons.  )

  • Bittrex, not accepting bitcoins...

    I had recently seen that bittrex is not accepting bitcoins, which means that i cant deposit nor withdraw. It says until BIP-91 is settled, the btc wallet will be disabled. I would like to know till when this BIP-91 will be settled? and moreover segwit will happen from 1st august, so i wont be able to transfer from that time. I have some bitcoins in coinsecure and i want to transfer them to bittrex and exchange them for some other currency... Any suggestions on investing in other currencies on bittrex?

  • What did you think of the CWS paper? illusion of scale in segregated witness

    https://twitter.com/i/moments/888788567497035776  which gives me this link https://nchain.com/app/uploads/2017/07/SegWit-and-the-illusion-of-scale.pdf  or just google it. Now, I'm more comfy with BTC and understanding a bit more.  I want to know what do you make of The illusion of scale in segregated witness by Craig Wright I think he did a poor job at sounding technical/explaining his reasons/won't go there most citations. But I do sort of get what he is saying.  I think this scaling thing is an illusion.  Kinda like big Pharma who kicks dr's who write scripts for their meds.  I mean you do believe the dr when he says, you need X.  You might not like it, but you follow dr's orders, pay for it and take it. Last year I did some reading.  Recently, I've read a lot too much actually.  I think there is a deeper meaning down the road that no one is thinking bout/saying/getting squashed?  Well "no one" in the sense that BIG $ knows and us "pee-ons" don't. Thoughts? No bashing and NO sig spamming.

  • Lessons Learned from the Scaling Debate

    The long and winding road for the Bitcoin scaling debate is just days before closing (hopefully) and soon we are looking forward for a more vigorous and soaring Bitcoin (though it would not be problem-free journey). So what are the things we have seen and learned on this very controversial debate? There are so many. We have seen that politics infused with varying self-vested interests were winning the days even obscuring clearer and better solutions for the problems at hand. Human nature is still at work here...and the element of greed is sometimes getting into the top. Greed can be utilized for the benefits of all concerned but too much of that can be detrimental to the whole community. The community have been focused so much on the technological side of things and with different and opposing ideas on solving the problems there should have been a unifying vision so that ideas should not be tools to muddled things down but instead to enlighten. Please share the things you have seen and learned during this stage of Bitcoin history.

  • Enthusiasts of the Bitcoin Lightning Network will be pleased with ACINQ

    Enthusiasts of the Bitcoin Lightning Network will be pleased with ACINQ right now, The company is releasing an Android Wallet for the  Lightning Network on the Bitcoin testnet. Although this still means the concept is in the  testing stage, it is a big step in the right direction. With SegWit activation drawing closer, now is a good time to look toward the future. Making the Lightning Network user-friendly is the obvious first step. To access the Lightning Network, one needs to go through many hoops right now. Most non-developers will have an incredibly difficult time doing so. ACINQ acknowledges something needs to change in this regard. The company is releasing their Android application to make this protocol more accessible. Anyone making use of the app can send test transactions on the Bitcoin testnet. Eclair wallet is free to download and should be available in the Play Store right now. http://www.newsbtc.com/2017/07/22/bitcoin-users-can-access-lightning-network-via-new-android-wallet-released-acinq/

  • Next week, is that the last chance?

    People are wondering, the last week of July is the deciding whether you want to make a big profit, or you'll just miss it. For myself, I intend to sell some of my cryptoss, and hope to get a good entry point, but on the other hand I feel that last week's downtrend is the last one of this month, what do you think?

  • payal and bitcoin

    Hello I`m selling my bitcoins for PayPal money payments is normal activity to PayPal? Will PayPal freeze my account or will facing any problem?

  • Better investement right now, bitcoins or Altcoins.

    If I planned on buying some coins today. Which would be the better long term investment, and why?

  • South Korea Officially Legalizes Bitcoin, Huge Market For Traders

    South Korea has officially legalized international Bitcoin transfers and is on the verge of providing a regulatory framework for Bitcoin trading platforms and exchanges. On July 3, Representative Park Yong-jin of the ruling Democratic Party of Korea revealed that the South Korean government is ready to regulate the Bitcoin market. According to Rep. Park, he submitted three revisions to build a set of regulatory frameworks for Bitcoin users and businesses to further facilitate the growth of the South Korean bitcoin market and industry. One of the revisions Rep. Park proposed to the financial regulators of South Korea requested Bitcoin businesses and trading platforms to retain capital of at least $436,000 and data processing facilities for Know Your Customer (KYC) and Anti-Money Laundering (AML) purposes. Son ji-hyoung of the Korea Herald stated: “Under the bill that aims to revise the Electronic Financial Transactions Act, traders, brokers, or other business entities involved in cryptocurrency transactions would be required to get regulatory approval from the Financial Services Commission. The requirements include the retention of capital of at least 500 million won ($436,300) and data processing facilities.” Since then, the South Korean government has introduced several regulatory frameworks for the Bitcoin industry. Although the South Korean Bitcoin industry has not been fully regulated as of yet, the South Korean government officially legalized Bitcoin service providers to facilitate payments, transfers and trades. Local publications including the Korea Herald reported that the newly revised South Korean Foreign Exchange Transactions Act has started to allow fintech companies and Bitcoin service providers to be approved by the Financial Supervisory Service (FSS), the financial regulator of South korea. Like the Philippines, South Korea has officially legalized Bitcoin as a remittance method, allowing fintech companies to process up to $20,000 worth of South Korean won in bitcoin for users. On February 12, Cointelegraph reported that the central bank of the Philippines officially legalized Bitcoin as a remittance method and as a result, Bitcoin industry in the Philippines experienced a surge in growth. Leading companies including Coins and Satoshi Citadel Industries raised tens of millions of dollars in funding and recording hundreds of thousands of new users. The central bank of the Philippines said: “The Bangko Sentral does not intend to endorse any VC, such as Bitcoin, as a currency since it is neither issued or guaranteed by a central bank nor backed by any commodity. Rather, the BSP aims to regulate VCs when used for delivery of financial services, particularly, for payments and remittances, which have a material impact on anti-money laundering (AML) and combating the financing of terrorism (CFT), consumer protection and financial stability.” When the South Korean government fully regulates the Bitcoin market and industry in the near future and further legalizes Bitcoin as a digital currency on top of a remittance method like Japan, trading volumes of the South Korean Bitcoin exchange market will likely record an exponential growth rate. Already, according to market data sources, the South Korean Bitcoin exchange market processes over 14 percent of global Bitcoin trades, the third largest market behind the US and Japan.

  • poloniex, kraken, and period of potential split

    hi, I would like to know what if it's okay to keep any bitcoin on exchanges like poloniex or kraken during next period, and what could happen. I have a very important question that noone could answer me properly, what will happen if i short bitcoin on an exchange now like kraken, is it risky? (knowing i have the same amount on poloniex) also I would like to know what I will have to rebuy to close my short if the coin would split. If there is anything to do before the next period, a warning, or so, i will be pleased u share it, i didnt withdraw any bitcoin from exchange, i have fiat on kraken and bitcoin on poloniex, a bit, I hope you will share your advices, thanks

  • Buying Bitcoins cheap without ID verification

    Hello guys my question is, where can I buy bitcoins with the cheapest exchange rate without ID verification? I'd like to pay with VISA or with my debit card.

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