Month: January 2016

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Cryptocurrency Highlights Of The Week

Digiconomist January 30, 2016 Other

Bitcoin Core is increasing its social media presence and Europol confirms there is no evidence for Bitcoin being used to fund terrorism.

Cryptocurrency Highlights Of The Week

Digiconomist January 23, 2016 Other

Chinese miners still haven’t reached consensus on their support for either Bitcoin Classic or Core, and the PBOC wants to issue its own virtual currency.

Cryptocurrency Highlights Of The Week

Digiconomist January 16, 2016 Other

Mike Hearn leaves the Bitcoin project and incidentally fires up momentum for Bitcoin Classic.

Cryptocurrency Highlights Of The Week

Digiconomist January 9, 2016 Other

NASDAQ has completed its first trade via Linq, and Segregated Witness has been deployed on a Bitcoin testnet.

Digiconomist

@DigiEconomist

Q: Why is the Cambridge #Bitcoin Electricity Consumption up by a lot at the same time? A: CBECI wasn’t calibrated on production data but just applies a simple averaging method across available devices. Effectively assuming entire generations of devices magically appear overnight

1:42 pm · January 22, 2021

Digiconomist

@DigiEconomist

Q: Why isn’t the #Bitcoin Energy Consumption Index up after the recent run-up in #BTC price? A: It will, but this doesn’t happen at an equal pace. Just think about the time needed to secure funding, produce machines, shipping them and getting them installed. twitter.com/coindesk/statu…

1:42 pm · January 22, 2021

CoinDesk

@CoinDesk

Bitcoin mining company Hut 8 has secured $11.8 million in financing for 5,400 new Whatsminer machines from MicroBT. @zackvoell reports trib.al/DWvR4eB

1:35 pm · January 22, 2021 ·

Retweeted by Digiconomist

Digiconomist

@DigiEconomist

Long story short; #Bitcoin isn’t suddenly fatally broken (just as limited as it has always been), and it isn’t a battery either 😅

9:58 am · January 22, 2021

Digiconomist

@DigiEconomist

One is you simply accept the risk that a transaction gets called in the way described. For low amounts this may be acceptable. The other is that you use a trusted third party service (for carrying and mitigating this risk). 👀

9:51 am · January 22, 2021

Digiconomist

@DigiEconomist

The only valid criticism here is that this also naturally makes #blockchain based currencies pretty bad as a point-of-sale solution. Imagine having to wait for one hour to your coffee or pizza to confirm. There’s a few solutions to this...

9:51 am · January 22, 2021

Digiconomist

@DigiEconomist

In #Bitcoin these blocks are called orphans. And this naturally occurs on any blockchain since forever. Also in #BTC it typically resolves in 1-2 blocks - this is where the recommendation to wait for an hour (six blocks) after a transaction before considering it final comes from.

9:51 am · January 22, 2021

Digiconomist

@DigiEconomist

This is when the rule of the longest chain being the valid one starts to kick in. The other side of the network will realize they are on the shorter one and switch back to what’s now the “main” chain. Anything that happened on the short side after the split will be discarded...

9:51 am · January 22, 2021

Digiconomist

@DigiEconomist

When two valid blocks are created at the same time (at the same height) the network may temporarily split (fork). Part of the network may continue working on one side while the rest works on the other side. At some point one more block will be added to either side...

9:51 am · January 22, 2021

Digiconomist

@DigiEconomist

Ok, let’s explain.. First of all this isn’t some kind of new “defect” in #Bitcoin. It’s totally possible that two valid new blocks for the underlying blockchain are created at the same time. These may even contain competing transactions. This will resolve automatically... twitter.com/digieconomist/…

9:51 am · January 22, 2021