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Chatter Report: Antonopoulos on Rolling Checkpoints, Vays Defends Song’s Stance on Credit Cards

In today’s roundup of crypto chatter, Andreas Antonopoulos explains rolling checkpoints and how consensus is achieved between miners, developers, exchanges, merchants, and wallets. Chris DeRose believes new Bitcoin pundits are toxic compared to the old ones. Also, Tone Vays defends Jimmy Song’s position on using credit cards over bitcoin.   Also read: Hash Wars: A Successful BCH Upgrade and a ‘High Risk’ Exchange Listing   Andreas Antonopoulos Explains Rolling Checkpoints Recently, Mastering Bitcoin author Andreas Antonopoulos released a video that explained his thoughts on the rolling 10-block checkpoint that prevents reorganizations of the BCH chain. In the video, he explained that the rolling checkpoint is a feature to protect BCH against secret mining, which could have been used to cause disruption or initiate a hostile takeover of the ABC chain. He also noted that the implementation of rolling checkpoints has the effect of shifting some power away from miners and giving it to developers. Then, Antonopoulos explained that consensus is a multi-constituency mechanism and that checkpoints are a matter of the relative power of two constituencies in consensus. The common misconception is that consensus is achieved only between miners and developers. Instead, he argues that consensus is achieved between five different groups with overlapping influence and power: miners, developers, exchanges, merchants, and wallets. All of these parties contribute to emergent consensus. Thus, the decision to side with rolling checkpoints is subjective to each of the five groups. Some may believe rolling checkpoints are justified as certain parties have threatened to spend millions of dollars purely to damage the ABC chain, while others may not. Regardless of their stance, each of the five groups will express their position through a consensus vote. By deciding what software to run on their nodes, they express their consensus vote and contribute to the emergent consensus. The Old Guard vs the New Bitcoin Uncensored host Chris DeRose recently took to Twitter to express his views on the evolving Bitcoin community. In his tweets, DeRose explained that the old guard of Bitcoin, comprising figures like Gavin Andresen, Amir Taaki, Roger Ver and many others are being rejected by the Bitcoin community even though they played pivotal roles in ensuring Bitcoin’s early success. The simplest explanation is that the new baghodlrs were in fact the greatest fools, and the old guard passed on the bag to a sorry lot. I'm hoping a better explanation shows up… — Chris DeRose (@derose) January 13, 2019 By contrast, the new guard of Bitcoin, like The Bitcoin Standard author Saifedean Ammous, developer Jimmy Song, and Blockstream CSO Samson Mow, have had a negative impact on the Bitcoin community. DeRose explained that the new guard leads by using spite and fear. They also believe that it is ok for bitcoin to lose value, so long as other cryptocurrencies lose value with it. In response, co-owner of Cobra explained to DeRose that the new guard have virtually no influence on Bitcoin. Despite having a large social media following, their influence is negated by others with a large social media presence like Roger Ver and Craig Wright. A Time and Place for Credit Cards Recently, Bitcoin commentator Colin compared Song’s infamous statement of using credit cards over bitcoin akin to the CEO of Nike asking people to walk barefoot. Trader Tone Vays has defended Song’s position, and argued that using BTC on sites like Expedia or Cheapair has the same effect as selling BTC on exchanges. This is because some merchants use services like Bitpay and opt to convert all BTC payments for fiat. There are times to use #Bitcoin vs CC just like there r times to use shoes vs barefoot.I know for a fact that if I use $BTC at Expedia or CheapAir it's same as market selling it on Exchanges lowering the price. Just like if I swim in the ocean in sneakers, i won't make it far. — Tone Vays [@Bitcoin] (@ToneVays) January 14, 2019 What do you think of rolling checkpoints? Let us know in the comments below. Images courtesy of Shutterstock. Want to create your own secure cold storage paper wallet? Check our tools section.   The post Chatter Report: Antonopoulos on Rolling Checkpoints, Vays Defends Song’s Stance on Credit Cards appeared first on Bitcoin News.
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Crypto Today: Bitcoin Price Finds a New Range, Quantum Computing No Threat to Bitcoin Explains Andreas Antonopoulos

“This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro Key Crypto News Highlights Bitcoin price finds a new range to settle in. IBM releases the world’s first commercially available quantum computer known as the Q System One. Quantum computing is no threat to Bitcoin explains Antonopoulos Bitcoin Price hovers in the new range Over last some days, Bitcoin and the other cryptos have taken a sharp plunge and now Bitcoin sits below USD 4000. While there appear to be no specific reasons for this drop and it looks like this is due to the lack of liquidity inherent in the crypto markets, possibly mixed with some large orders being placed on exchanges. Considering the fall we saw in mid- November that bought bitcoin from around USD 6000 levels to USD 3000 levels, this small dip which has a total movement of 12% from peak to trough was actually insignificant. As the charts are currently placed, it seems like the current range is from $3,000 to $5,000 (dotted blue lines). Considering the movement since mid -November, it looks like that bitcoin has opened a new mini-range within that from $5,550 to approximately $4,200 (yellow lines). IBM’s quantum computer launches sparks debate of its risks to Bitcoin Recently, IBM launched the worlds very first commercially available quantum computer known as the Q System One. For those unfamiliar, quantum computers think a bit differently than the PCs and smartphones and are much better at solving complex mathematical problems. The release of this new computer instantly piqued the interest of some members in crypto who asked: “does this new quantum computer threaten bitcoin?” While there were varied opinions, one of Andreas Antonopoulos’s old videos that were released in Feb 2017 perfectly answers it. One being asked about risk Bitcoin has from quantum computers, Antonopoulos explains “In cryptography, there is a 20-30 year lifecycle for an algorithm before it gets exceeded by new technologies and developments in mathematics. Both the signing and hashing algorithms can be upgraded in Bitcoin if there is a need to do that. Quantum cryptography represents a threat only if unevenly distributed in commercial sectors. If it is available to only one actor, and not all actors, they are unlikely to use it against Bitcoin; instead they’re going to keep it secret and use it when they’re threatened by ex. cryptographically secure nuclear weapons. Intelligence agencies who have that kind of significant computing advantage don’t use it until there is a dire emergency, because once you use it everyone will know you have it. After that all the algorithms get changed, so you better make it good. If it is widely available, all the miners update to quantum computers and we’re going to be looking at several orders of magnitude in improvement because running one is neither free nor easy. We don’t know what the economics will be yet, but we will solve problems when it’s necessary.” The post Crypto Today: Bitcoin Price Finds a New Range, Quantum Computing No Threat to Bitcoin Explains Andreas Antonopoulos appeared first on Coingape.

BSV Leader Craig Wright Calls Crypto Asset Educator Andres Antonopoulos a ‘Shitcoin Expert’

Craig Wright, one of the most controversial figures in the cryptocurrency space has attacked Andres Antonopoulos calling him a shitcoin expert. Andreas Antonopoulos is one of the most respected Bitcoin experts in the world and is also known for writing the so-called Mastering Bitcoin. Craig Wright is also known for calling himself Satoshi Nakamoto, even when he did not provide full evidence about it. At the same time, Wright has also been supporting Bitcoin SV (BSV) a recently forked virtual currency from Bitcoin Cash (BCH). According to Wright, people such as Antonopoulos are anti-banks, anti-government and based on scams and Ponzi schemes. Wright, the chief scientist of nChain, affirmed that Mastering Bitcoin was an error-ridden and ‘nsidious.’ The main difference between these two crypto figures might be related to the fact that Antonopoulos backs Bitcoin’s Lightning Network (LN) rather than an on-chain scaling solution. At the same time, Antonopoulos has also backed Segregated Witness (SegWit). Craig has always been against the LN saying that it was ‘flawed’ and that it would not work as expected. He mentioned that it is probably flawed due to an incomprehension that exists surrounding Bitcoin. According to Antonopoulos, not pursuing for LN and layer-2 solutions would affect the network and make it more centralized. Back in 2017, Antonopoulos wrote in a blog post: “Ironically, people who object to LN are vehemently against [Off-chain trusted third-party custodial] but by resisting segwit are actually encouraging and feeding centralization into more counterparty-risk through centralized intermediaries. Demand is already pushing us that way. The lack of a trustless alternative leaves only one alternative. No segwit/No LN does not mean on-chain transactions. It means on-coinbase transactions, which is worse.” Craig Wright is currently working at nChain trying to expand Bitcoin SV reach and properly compete against Bitcoin Cash and Bitcoin itself.
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Shots Fired: Craig Wright Calls Bitcoin Evangelist Andreas Antonopoulos ‘Sh*tcoin Expert’

Self-declared creator of bitcoin, Craig Wright, has taken to Twitter to brand bitcoin advocate Andreas Antonopoulos, a ‘shitcoin expert’. Escalating the attacks further, Wright dismissed Antonopoulos’ wealth of knowledge on bitcoin saying that the only correct thing the host of “Let’s Talk Bitcoin” podcast knows is how to ‘spell Bitcoin’. In Craig Wright’s view, Antonopoulos The post Shots Fired: Craig Wright Calls Bitcoin Evangelist Andreas Antonopoulos ‘Sh*tcoin Expert’ appeared first on CCN

Andreas Antonopoulos Says SegWit Helped Patch Transaction Malleability Problems for BTC and LTC

Andreas Antonopoulos, one of the most important figures in the cryptocurrency space and the author of Mastering Bitcoin, talked about the Lightning Network (LN) and how it could be able to deal with scaling issues. During a Q&A session on YouTube, he has also discussed whether Segregated Witness (SegWit) was necessary for the Lightning Network. He started his Q&A session talking about the Lightning Network proposal. The LN would allow the Bitcoin network to scale without having to broadcast the transactions on Bitcoin’s main network. Additionally, he mentioned that these payments processed through the LN are private and low cost. This allows the Bitcoin network to be less congested and also to have lower fees. Users transacting through the LN would have also lower transaction costs and will be able to enjoy a faster network. At the same time, he explained that it might be possible for nodes to process hundreds of thousands of payments per second. Additionally, transactions can only be seen by the nodes that are involved in the channel. The activity between two nodes in just a channel does not really affect the rest of the network. Another positive aspect of the Lightning Network is the fact that is a much more private way to make transactions. The funs and data about the sender and receiver can only be seen by participating nodes. At the same time, miners are not needed to confirm payments, which means that is much harder to censor. Antonopoulos has also talked about Segregated Witness and the influence it had to make Lightning Network compatible. With SegWit implementation it was possible to fix a bug in the Bitcoin code known as transaction malleability. This allowed people to modify the subsequent hash. However, he said that it is possible to make a Lightning implementation without having to use SegWit. On the matter, he said: “It could be a different transaction malleability fix. It is very difficult to implement Lightning securely on a chain that has a transaction malleability problem. SegWit fixed it on Bitcoin and Litecoin. On another chain, you might have a different fix. That would make Lightning possible.” Currently, the Lightning Network has 4,914 nodes with 16,371 channels. Additionally, the network capacity has reached 518.56 BTC.
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“World’s Worst Criminals Were Once Innocent”, Andreas Antonopoulos Speaks on Securing Identities

In the chaos of talk to integrate Blockchain on the system or not, Andreas Antonopoulos, blockchain bestselling author speaks about the ‘securing identities on the blockchain’. While speaking about the ‘digital identity’, he asserted that; “I am extremely skeptical that you can solve problems of identity simply by throwing a magic blockchain at it.” World’s Worst Criminals Were Once Innocent However, he says that the information regulated entities which are requesting for a digital identity for the people don’t necessarily require, adding that the ‘world’s worst criminals were completely innocent before they committed their first crimes’. As such he said that today the system demand identity to protect confidential things or funds from the risk of fraud; however, he noted that ‘identification doesn’t mean you are trustworthy or that your behavior is good’. Consequently, he kept on saying that your goodness in past doesn’t mean that you will behave well in days to come. Andreas emphasized that today’s society accepts a person is good if he’s identified and in case if he is identified and not good, they’re liable for the punishment. Talking caustic on this, he noted that in both the cases it resulted in ‘ the exclusion of several billion people from the financial system’. Andreas said that; But several hundreds of thousands of criminals have both identification and banking licenses,”. According to him, authorities issuing the ‘identification documents based on such a system will be criminals; Eventually, those who have control over people’s identification become the biggest criminals of them all.” He said Continued on this point to reduce terrorism and crime, Andreas doesn’t believe such identification before the transaction can ever help government ‘control the crime and terrorism’. “It just ensures that the only people who can commit massive crimes against millions of people are those who are funded and supported by governments,” Andreas is the author of the famous books including ‘The internet of money, Mastering Bitcoin program, Mastering Ethereum building is often appear on bulletins speaking about Bitcoin, Blockchain and Cryptocurrency. As said in his video, he is not stating about ‘blockchain identification’ he instead prefers ‘anonymous cryptocurrencies’. “This gives people the freedom to transact and interact with each other without forcing them to use regulated intermediaries. It gives those intermediaries enormous power with very little benefit for humanity.” He said Moreover, while he often speaks with regulatory bodies or the people related to government entities, he said that the identification issue can be overcome only if we had ‘more control over people’, adding that with this, ‘finally crime will be eradicated’. “It is always just a bit more power, more identification, more control for them. If you believe that, then its the path to fascism,” said Andreas. The post “World’s Worst Criminals Were Once Innocent”, Andreas Antonopoulos Speaks on Securing Identities appeared first on Coingape.
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Ripple’s RippleNet XRP Showcases Real-World Effectiveness: Mercury FX

After partnering up with the firm behind the second largest coin XRP [XRP] Ripple as one of the +200 costumers, Mercury FX announced via their official twitter handle that they transacted their largest payment across RippleNet with a positive conclusion. 1/1 We've made our largest payments across RippleNet using #XRP – 86,633.00 pesos (£3,521.67) from the U.K. to Mexico in seconds. — Mercury-fx Ltd (@mercury_fx_ltd) January 17, 2019 Using XRP, the firm transferred £3,521.67 or $4,552.41 while they cited that UK based Mustard Foods was able to save £79.17 and 31 hours on the transaction. Mustard Foods could be one of the best examples of the impact of using RippleNet could have as it opened doors to cheaper expenses, quicker orders and faster payments. As covered by John P. Njui on EWN a few days ago, The Ripple company has announced via its website that 13 new financial institutions have joined RippleNet thus propelling the number of total global customers to over 200. RippleNet currently operates in 40 countries across 6 continents. Out of the 13 aforementioned financial institutions, 5 are confirmed as using XRP to source instant liquidity for their cross border payments. The are JNFX, SendFriend, Transpaygo, FTCS and Euro Exim Bank. By the end of this year [2018], major banks will use xRapid as a liquidity tool. By the end of next year [2019], I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity. – Brad Garlinghouse The success behind the team from Ripple could be standing by their marketing strategy and future plans of making the financial industry a better place to be. While not displacing traditional banking systems but helping them make payments cheaper and faster, it is finding its way to take spotlight in the crypto-verse. The post Ripple’s RippleNet XRP Showcases Real-World Effectiveness: Mercury FX appeared first on Ethereum World News.
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BRD Wallet Expands Crypto User Access Across Europe With Coinify Partnership

Coinify, a European-based financial platform that provides a wallet, trading and payment processing solution, has announced that they are integrating BRD Wallet into their platform to deliver BRD wallet access to users across the European region.Specifically, the partnership provides access to virtual currencies, like bitcoin, to 34 countries across the Single Euro Payments Area (SEPA). The SEPA region is a collection of member states in Europe who are part of a payment system that simplifies bank transfers denominated in EUR. The launch is also enabled largely in part by Coinify’s newly rebranded trading solution for wallet partners.Customers will now be able to use BRD Wallet to “purchase bitcoin at cost-efficient rates with SEPA bank transfers” within Coinify’s trading platform. With BRD integration, customers will also retain control over their private keys while using Coinify.Essentially, this provides a large number of users with an efficient and secure way to buy bitcoin and other cryptocurrencies, and then allows them to immediately store it in a manner where they control what happens to their money. Typically, a user will entrust the custody of their private keys to a centralized exchange while they are waiting for trades to be executed and sometimes for much longer than that.Aaron Lasher, co-founder and chief strategy officer at BRD, highlighted the advantages of the integration for security-focused users of the Coinify platform.“We like exchanges and think security will get better in the future, but by using our integrated purchase and trading solutions, you get to keep your funds under your control 99 percent of the time, and only put them at a slightly higher risk for a short period when you make the exchange,” Lasher told Bitcoin Magazine.“Using a non-custodial wallet means that you and you alone control your funds. It’s similar to having physical cash in a (highly secure) safe at home. Only in this case, we provide our customers a digital safe (the BRD wallet) that they can keep in their pocket and carry along. Nobody else in the world has access to your funds but you, and nobody can stop you from sending or receiving funds.”Integrating a wallet that allows users to own their funds and seamlessly make trades on a platform like Coinify could help to push bitcoin adoption forward."The financial industry is ripe for disruption and we see bitcoin and the other virtual currencies as the future of payments,” said Rikke Stær, chief commercial officer at Coinify, told Bitcoin Magazine. “At Coinify, we have experienced first-hand the rising adoption of bitcoin and working with BRD as a user-friendly, decentralized wallet will only encourage the global reach of the currency."“Since launching as the first iOS bitcoin wallet in the App Store over 4 years ago, we’ve grown tremendously in North America,“ Adam Traidman, CEO and co-founder of BRD, said in a statement. “Europe will be strategic in the next phase of BRD’s global growth, and the partnership with Coinify will ensure our success in this crucial endeavour.”In August 2018, Canadian-based Coinberry exchange launched a similar BRD integration, allowing users to quickly and seamlessly buy, deposit and withdraw bitcoin on the Coinberry platform, while keeping control of their keys at all times. This article originally appeared on Bitcoin Magazine.
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Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018

Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018 Major cryptocurrency payment service provider BitPay has reported $1 billion in transactions this past year, according to a press release Jan. 16. According to the report, the company also set a new record for itself in terms of transaction fee revenue. […] Cet article Crypto Payments Service BitPay Reports It Saw Over $1 Billion in Transactions in 2018 est apparu en premier sur Bitcoin Central.
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