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Amaury Sechet is the lead developer of Bitcoin ABC, a Bitcoin Cash client.

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Chatter Report: Sechet Claims Cashaccount a Potential ‘Privacy Disaster’, Voorhees Defends Coinbase

In today’s roundup of crypto chatter, Jonathan Silverblood responds to Amaury Sechet’s privacy concerns with Cashaccount. Erik Voorhees defends Brian Armstrong from criticism on the latter’s 10 year Bitcoin anniversary tweets. Also, Nikita Zhavoronkov congratulates Bitcoin for creating 1 billion outputs on the BTC blockchain. Also read: The Cashaccount.info Platform Tethers Names to Bitcoin Cash Addresses   Amaury Sechet’s Privacy Concerns With Cashaccount Bitcoin ABC lead developer Amaury Sechet took to Twitter recently, proclaiming that the new BCH-powered alias-address system Cashaccount will be a privacy disaster. Surprisingly, Cashaccount creator Jonathan Silverblood agreed with Sechet, as the founder believes his project will lead to more BCH users reusing Bitcoin addresses. This would be bad for privacy, as reused addresses can be used to discover financial information that users may not wish to disclose. I agree – it will undoubtedly increase the number of people that will reuse addresses. Perhaps you can spend some time and help get those stealth keys that @ChrisPacia was working on more widely supported, or help progress the BIP-47 support? — Jonathan Silverblood (@monsterbitar) January 3, 2019 To resolve the potential lack of privacy, Silverblood asked Sechet to collaborate with Openbazaar developer Chris Pacia on stealth keys, or to assist with the development of BIP-47. However, other commentators like Crypto Pelé were not as concerned with a lack of privacy. Pelé pointed out that some BCH users are fine with the transparency that comes with reusing addresses. Erik Voorhees Defends Brian Armstrong From Criticism To commemorate Bitcoin’s 10th year anniversary of the Genesis Block, Coinbase CEO Brian Armstrong posted a series of tweets reminiscing how he first got into bitcoin. 1/ Today is a big day for Bitcoin, as it marks 10 years since the Genesis Block. Some people think I don’t like to talk about Bitcoin (), but today I have a few words to say — Brian Armstrong (@brian_armstrong) January 3, 2019 In the thread, Armstrong recounts reading the Bitcoin white paper in 2010 and becoming obsessed about Bitcoin for the subsequent 6 months. He began building a bitcoin wallet for Android devices as a side project, but then pivoted to a hosted wallet and a custom Bitcoin node. After securing funding from Ycombinator, Armstrong started working on his business idea full time and settled on the company name Coinbase. He then ended the tweet-storm on a positive note, boldly proclaiming that he has “never had more conviction” on the future of cryptocurrencies. Not everyone responded positively to Armstrong’s tweets. Commentator Simon Moon called Armstrong out for being a fake libertarian, arguing that Coinbase is a government-backed monopoly. Hah… as if their business just “appeared” and had a moat of regulation around it. The regulation isn’t their fault, and they have to walk a very delicate line. Yet millions enter the ecosystem because of the tools (read: bridge) that CoinBase has built. — Erik Voorhees (@ErikVoorhees) January 4, 2019 Shapeshift CEO Erik Voorhees quickly stepped in to defend Coinbase’s CEO. Voorhees pointed out that regulation was not Coinbase’s fault and that Coinbase has helped introduce millions of people to cryptocurrency. 1 Billion Outputs on the BTC Blockchain Blockchair lead developer Nikita Zhavoronkov also took to social media to wish Bitcoin a happy 10th birthday. While many congratulated Bitcoin on it’s Genesis Block, Zhavoronkov took the opportunity to congratulate Bitcoin for creating 1 billion outputs on the BTC blockchain. Not only it’s the 10th Bitcoin birthday today, but also a new landmark has been achieved — now there are more than 1 billion outputs created on the Bitcoin blockchain (see https://t.co/bKMI1xgYsf for stats) — what an interesting coincidence! pic.twitter.com/jeWJwLkVQ1 — Nikita Zhavoronkov (@nikzh) January 3, 2019 What do you think of privacy issues surrounding the Cashaccount’s identification system? Let us know in the comments below. Images courtesy of Shutterstock. Need to know the price of bitcoin? Check this chart. The post Chatter Report: Sechet Claims Cashaccount a Potential ‘Privacy Disaster’, Voorhees Defends Coinbase appeared first on Bitcoin News.
Bitcoin News

BCH Instant Payments on Avalanche, Forks and More With Amaury Sechet

Amaury Sechet is the lead developer for Bitcoin ABC, the most-used protocol software for Bitcoin Cash. The recent hard fork, and surrounding controversies, have made him a reluctant spokesperson for adjustments to the way BCH works. What are some of those issues, and how will they affect the community? Bitsonline sat down for a half hour chat with Sechet at the recent Global Blockchain Developers’ Conference in Hong Kong to hear more about those battles, instant confirmations on BCH with Avalanche, and other plans for the future. Also see: No Time for Bear Markets! BCH, Blockchain Devs Too Busy Building the Future Subscribe to the Bitsonline YouTube channel for great videos featuring industry insiders & experts Sechet: Stop Arguing About the ‘Real Bitcoin’ and Build Something Useful   The (November 2018 BCH) fork is more an event that reveals some problems rather than creating them,” Sechet says, adding the resulting “chaos” probably exacerbated BCH’s price woes in a market that was already falling for all cryptocurrencies. Eventually, he says, it’s the coin that proves most useful that will gain trust and value, rather than arguments over which is “the real Bitcoin”. Social media wars and personal sniping over details won’t do much to build value for anyone. How Avalanche Confirms BCH Transactions in Seconds Sechet goes on to talk about Avalanche, a consensus mechanism built to enable BCH transactions that are “as instant as possible” — even within a few seconds. One barrier to merchant adoption is concerns over (comparatively) long confirmation times, and whether bad actors could exploit other methods designed to work around these, by attempting a “double spend”. This is actually a big problem in BTC and potentially BCH too, Sechet says. Double spending is where a user broadcasts a transaction to more than one recipient to the BCH (or any other blockchain cryptocurrency) network almost simultaneously, or before one is confirmed. That’s impossible if a recipient can wait for the generally-required six confirmations, but possible if they’ll accept a payment as complete before those blocks are confirmed. A mechanism like Avalanche would query mining nodes at random to find out which transaction they consider to be the first. The transaction with the highest approval count would be accepted as the valid one. Watch the entire interview to find out more about how avalanche works, when Sechet expects it to be ready, and how it differs from similar solutions to the confirmation time problem on other protocols such as Bitcoin BTC’s Lightning Network, Bitcoin SV… and even Ripple. He also talks about the BCH roadmap and scaling plans other than Avalanche, and development teams plan to tackle the challenges. Do you think Bitcoin Cash is heading in the right direction? Feel free to share your thoughts in the comments section. Images and video via Bitsonline, Jon Southurst The post BCH Instant Payments on Avalanche, Forks and More With Amaury Sechet appeared first on Bitsonline.
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Chatter Report: Voorhees Questions ‘Smart Money’, Sechet Explains ‘Miners Don’t Vote’ Declaration

In today’s Chatter Report, Erik Voorhees criticizes cryptocurrency-focused venture capital firms for reneging on their signed term sheet deals. Also, Steve Patterson calls out Amaury Sechet over Chris Pacia’s comment that miners don’t vote. Lastly, imaginary_username contemplates on the different roles of miners and users in Bitcoin.  Also read: BCH Devs Discuss Securing Instant Transactions With the Avalanche Protocol Crypto Venture Capital Firms Renege on Term Sheets Founder of Digital Currency Group Barry Silbert revealed on Twitter recently that Venture Capital firms that invest in cryptocurrency-related startups have been reneging on their signed term sheet deals. We've seen half a dozen fundraising deals fall apart over the past month after the lead pulled out. All is not well in crypto VC investor land Good time to remind founders that a signed term sheet does not equal cash in the bank — Barry Silbert (@barrysilbert) December 12, 2018 Silbert later pointed out in the comments that most large deals were unaffected by this phenomenon. However, it’s the smaller deals like the seed, series A and series B rounds that are being reneged. Bad Call? The decision of VC firms to pull out of their investment deals drew sharp criticism from the CEO of Shapeshift, Erik Voorhees. Voorhees was quick to point out that the VCs seemed to be the antithesis of “smart money”. The VCs disappear when markets are down, and flood back in when markets are up. Are they not supposed to be the smart money? Their investing instincts seem little better than the Coors drinkin’ taxi driver all excited about Tron three weeks before the bubble pops. https://t.co/8YTcim5iKQ — Erik Voorhees (@ErikVoorhees) December 13, 2018 Voorhees did not hold back on criticism and even compared the investment decisions of the VCs to an average Joe who FOMOed into buying a Tron right before the price dumped. Whitepaper Sacrilege? Bitcoin pundit Steve Patterson called out the BCH community over Openbazaar developer Chris Pacia’s statement that miners don’t vote. Patterson saw this as a huge deviation away from Satoshi Nakamoto’s statement in the whitepaper that “[Miners] vote with their CPU power“. "Any needed rules and incentives can be **enforced** with this consensus mechanism" Make sure you have the basic down before we can go further. Miner vote on *state* to solve the byzantine general problem. Miners also *enforce* rules. Miner do not vote on rules. — Deadal Nix (@deadalnix) December 12, 2018 Lead developer of Bitcoin ABC Amaury Sechet fired back, arguing that miners “enforce rules” and gave the analogue that miners vote as much as Walmart votes on the products on its shelves. Existential Thoughts on Roles in Bitcoin The conversation then took a slight detour as crypto Twitter began contemplating the role of miners and users in the Bitcoin ecosystem. BCH pundit imaginary_username jumped into the discussion to quote Pirate Party Founder Rick Falkvinge and explained “everyone is free to do anything, and you may not tell others what to do” in Bitcoin. They are people too and are free to follow the latest block they want… the fact remains that the users do *not* have to follow what they follow. To paraphrase @Falkvinge , "everyone is free to do anything, and you may not tell others what to do". — imaginary_username (@im_uname) December 13, 2018 Imaginary_username then elaborated on the idea of all parties being free and explained that exchanges, businesses, customers and investors all do as they please. This is because miners are unable to coerce users with guns and threats of violence the way politicians enforce rules against their own citizens in a democracy. What do you think of venture capital firms reneging on their signed term sheet deals? What about the roles of miners and users in Bitcoin? Let us know in the comments below. Images courtesy of Shutterstock. Bitcoin.com’s own store features a wide range of interesting Bitcoin-related products. Looking for a hardware wallet? We got ‘em. Want a good-looking t-shirt? It’s there. Want to gift a nice Bitcoin tea cup? Go shopping. The post Chatter Report: Voorhees Questions ‘Smart Money’, Sechet Explains ‘Miners Don’t Vote’ Declaration appeared first on Bitcoin News.
Bitcoin News

Amaury Séchet Puts Proof of Work Change on the Table

Bitcoin Cash miners may be fired if they do not stand up to defend BCH from any 51% attack with Amaury Séchet, lead dev of BCH’s main client, BitcoinABC, stating: “Changing... The post Amaury Séchet Puts Proof of Work Change on the Table appeared first on Trustnodes.
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Craig Wright And Amaury Séchet To Each Participate In Reddit AMAs on BCH

Bitcoin ABC developer Amaury Séchet will be prepared to talk Bitcoin BCH at Sept. 14 at 12 US Eastern Time. The post on Reddit, by user E7ernal, reads “Amaury will be joining us to answer your questions about his involvement with Bitcoin Cash, Anarcho-capitalism and the greater liberty movement, and whatever else you want to ask!” Séchet, frequently named “The Benevolent Dictator” of Bitcoin ABC, has been a hot topic in Bitcoin BCH circles for several months and has been associated with the cryptocurrency from the start. He has repeatedly shown support of a pre-consensus solution, through which crypto miners would reduce the rate of orphaned blocks in an organized fashion. This move is seen by many as an example of the unnecessary changes some wish to thrust upon the Bitcoin BCH network, while not lending any new advantages. Dr. Craig Wright will also be the subject of a Question & Answer (Q&A) session, although the platform is yet to be determined. Reddit user “Marlab999” started a thread soliciting questions for the Q&A, writing, “I am preparing a Q and A with CSW: Let me know what do you want to ask him.” Marlb999 added, “No obvious troll questions or anything related to altcoins or anything silly.” One responder replied to the question, “You could ask him when will SV feature solutions to bottlenecks to scalings, such as parallelization of the mempool code and block validation,” while another asks, “Does he not have fear about the delay or destroy of the merchant adoption because of the current drama and a possible chain split?” The AMA should prove to be interesting, at the very least, and will certainly draw questions from a number of angles.
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Bitcoin ABC’s Amaury Sechet aka ‘deadalnix’ Gets Canned From BCH Slack Channels Over Pre-Consensus Debate

BCH Slack Banns Amaury Sechet of Bitcoin ABC Bitcoin Cash Slack recently banned Amaury Sechet, dubbed the “Benevolent Dictator” of Bitcoin ABC, from its channels. The ban was reported by Reddit users, leading to a social media storm as to why the split occurred. Most of the discussion came from Reddit users, who also claimed that Bitcoin Cash Slack banned Sechet due to his vocal attitude toward pre-consensus solution, which is a form of organized agreement of crypto miners to reduce the rate of orphaned blocks. The pre-consensus solution has received backlash from several people, including Dr. Craig Wright. According to Wright, Bitcoin Cash protocol does not have a placed for an organized solution and that a form of pre-consensus could arise spontaneously. These developments are interesting, especially in light of the fact that Sechet has been with Bitcoin Cash from its start and he has worked on the platform’s most important developments. Sechet has also been a proponent of the Emergency Difficulty Adjustment solution. Despite Sechet’s work and efforts, several Reddit users, Bitcoin Cash was threatened by a small group of developers looking to take the platform in a certain direction. However, the platform’s community has the right to agree or disagree with the proposals and miners tend to avoid them. Currently, the platform has low transaction rates, despite its positive network performance. And at some point, the BCH oustripped BTC’s transaction, at least until it returned to normal levels, which is around 17,000 per day. The Bitcoin Cash project aims to improve adoption levels and usage by prompting the network’s speed. As for the platform’s market price, it hasn’t been doing so well – it recently dipped below $700, but then recovered to $7.1128. Further, over 60 percent of BCH trading is against the Tether fixed-price coin.
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BTC vs. BCH: who will win?

Disputes of redditors this week rustled around the BCH and community rules. Once again they remembered Opera with its Cryptocurrency wallet and tried to understand the words of Vitalik Buterin.

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Stellar Price Analysis: Grayscale Announces XLM Based Trust; XLM/USD Stuck Within Bearish Structure

Global digital asset management firm, Grayscale, has announced an investment vehicle based around XLM. XLM/USD is moving within the confinements of a bearish pattern structure, subject to a breakout south. XLM/USD has been subject to very narrow and choppy trading, which has been going on for the past eight sessions now. Price action is moving […] The post Stellar Price Analysis: Grayscale Announces XLM Based Trust; XLM/USD Stuck Within Bearish Structure appeared first on Hacked: Hacking Finance.
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Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust

Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust Digital currency investment group Grayscale confirmed it had successfully launched its latest fund, dedicated to Stellar’s Lumens (XLM) token, in a tweet Jan. 17. Grayscale, which now operates nine cryptocurrency funds, timed the move to coincide with a change of image for its products, renaming all its […] Cet article Grayscale Adds Stellar as Latest Cryptocurrency Investment Trust est apparu en premier sur Bitcoin Central.
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Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project

CoinSpeaker Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project Until now, everybody has been talking about Bitcoin, the most popular and widely used digital currency. However, Bitcoin is unable to process thousands of transactions a second. Researchers from the Massachusetts Institute of Technology (MIT), UC-Berkeley, Stanford University, Carnegie Mellon University, University of Southern California, and the University of Washington have decided to fix such a weakness and develop a crypto asset better than Bitcoin. The researchers are working together as Distributed Technology Research (DTR), a non-profit organization based in Switzerland and backed by hedge fund Pantera Capital. The first initiative of Distributed Technology Research is the Unit-e, a virtual coin that is expected to solve bitcoin’s scalability issues while holding true to a decentralized model and process transactions faster than even Visa or Mastercard. Babak Dastmaltschi, Chairman of the DTR Foundation Council, said: “The blockchain and digital currency markets are at an interesting crossroads, reminiscent of the inflection points reached when industries such as telecom and the internet were coming of age. These are transformative times. We are nearing the point where every person in the world is connected together. Advancements in distributed technologies will enable open networks, avoiding the need for centralized authorities. DTR was formed with the goal of enabling and supporting this revolution, and it is in this vein that we unveil Unit-e.” According to the press release, Unit-e will be able to process 10,000 transactions per second. That’s worlds away from the current average of between 3.3 and 7 transactions per second for Bitcoin and 10 to 30 transactions for Ethereum. Joey Krug, a member of the DTR Foundation Council and Co-Chief Investment Officer at Pantera Capital, believes that a lack of scalability is holding back cryptocurrency mass adoption. He said: “We are on the cusp of something where if this doesn’t scale relatively soon, it may be relegated to ideas that were nice but didn’t work in practice: more like 3D printing than the internet.” The project’s ideology is firmly rooted in transparency, with a belief in open-source, decentralized software developed in the public interest with inclusive decision-making. The core team of the project is based in Berlin. To solve the scalability problem, DTR has decided to develop the Unit-e with parameters very close to Bitcoin’s design, but many things will be improved. Gulia Fanti, DTR lead researcher and Assistant Professor of Electrical and Computer Engineering at Carnegie Mellon University, commented: “In the 10 years since Bitcoin first emerged, blockchains have developed from a novel idea to a field of academic research. Our approach is to first understand fundamental limits on blockchain performance, then to develop solutions that operate as close to these limits as possible, with results that are provable within a rigorous theoretical framework.” The launch of the Unit-e is planned for the second half of 2019. Researches from MIT, Stanford Set to Replace Bitcoin with Their Groundbreaking Crypto Project
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BitPay CEO Says Bitcoin Is Solving Real Problems Around the World

BitPay co-founder and CEO, Stephen Pair, has recently commented that Bitcoin (BTC) is solving several issues around the world. He said that in a press release uploaded a […] The post BitPay CEO Says Bitcoin Is Solving Real Problems Around the World appeared first on UseTheBitcoin.
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