Bitcoin stocked in mempool for almost 48hours : Bitcoin

<-- Number of people checking the mempool more obsessively than the price right now /r/Bitcoin

<-- Number of people checking the mempool more obsessively than the price right now /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

[uncensored-r/Bitcoin] <-- Number of people checking the mempool more obsessively than the price right now

The following post by Dickydickydomdom is being replicated because some comments within the post(but not the post itself) have been silently removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7m0rcy
The original post's content was as follows:
https://dedi.jochen-hoenicke.de/queue/more/#24h
It's like I'm cheering on a football team! Come on orange band! your time to shine so that stupidly low fee transaction I sent last week can finally confirm!
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

In the latest Bitcoin Fees app update you can now see the unconfirmed mempool transaction count for each fee range. Check it out at BitcoinFeesApp.com

In the latest Bitcoin Fees app update you can now see the unconfirmed mempool transaction count for each fee range. Check it out at BitcoinFeesApp.com submitted by BitcoinFeesApp to CryptoCurrency [link] [comments]

BCash is proving that increasing the block size just isn't a good solution. Check out their mempool in the last week. /r/Bitcoin

BCash is proving that increasing the block size just isn't a good solution. Check out their mempool in the last week. /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

01-14 19:43 - 'BCash is proving that increasing the block size just isn't a good solution. Check out their mempool in the last week.' (i.redd.it) by /u/SternerCrow removed from /r/Bitcoin within 57-67min

BCash is proving that increasing the block size just isn't a good solution. Check out their mempool in the last week.
Go1dfish undelete link
unreddit undelete link
Author: SternerCrow
submitted by removalbot to removalbot [link] [comments]

[uncensored-r/Bitcoin] Every bitcoiner, You really need to check the mempool, bitcoin is not usable now

The following post by kepadez is being replicated because the post has been silently greylisted.
The original post can be found(in censored form) at this link:
np.reddit.com/ Bitcoin/comments/7l6j92
The original post's content was as follows:
[removed]
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

With the mempool clearing out after a crazy week, check out the Bitcoin Fees app to see how long your transaction will now take to confirm! /r/Bitcoin

With the mempool clearing out after a crazy week, check out the Bitcoin Fees app to see how long your transaction will now take to confirm! /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Most reliable site to check mempool? /r/Bitcoin

Most reliable site to check mempool? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

STOP paying so high fees? Check the Mempool first! /r/Bitcoin

STOP paying so high fees? Check the Mempool first! /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Technical: Taproot: Why Activate?

This is a follow-up on https://old.reddit.com/Bitcoin/comments/hqzp14/technical_the_path_to_taproot_activation/
Taproot! Everybody wants it!! But... you might ask yourself: sure, everybody else wants it, but why would I, sovereign Bitcoin HODLer, want it? Surely I can be better than everybody else because I swapped XXX fiat for Bitcoin unlike all those nocoiners?
And it is important for you to know the reasons why you, o sovereign Bitcoiner, would want Taproot activated. After all, your nodes (or the nodes your wallets use, which if you are SPV, you hopefully can pester to your wallet vendoimplementor about) need to be upgraded in order for Taproot activation to actually succeed instead of becoming a hot sticky mess.
First, let's consider some principles of Bitcoin.
I'm sure most of us here would agree that the above are very important principles of Bitcoin and that these are principles we would not be willing to remove. If anything, we would want those principles strengthened (especially the last one, financial privacy, which current Bitcoin is only sporadically strong with: you can get privacy, it just requires effort to do so).
So, how does Taproot affect those principles?

Taproot and Your /Coins

Most HODLers probably HODL their coins in singlesig addresses. Sadly, switching to Taproot would do very little for you (it gives a mild discount at spend time, at the cost of a mild increase in fee at receive time (paid by whoever sends to you, so if it's a self-send from a P2PKH or bech32 address, you pay for this); mostly a wash).
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash, so the Taproot output spends 12 bytes more; spending from a P2WPKH requires revealing a 32-byte public key later, which is not needed with Taproot, and Taproot signatures are about 9 bytes smaller than P2WPKH signatures, but the 32 bytes plus 9 bytes is divided by 4 because of the witness discount, so it saves about 11 bytes; mostly a wash, it increases blockweight by about 1 virtual byte, 4 weight for each Taproot-output-input, compared to P2WPKH-output-input).
However, as your HODLings grow in value, you might start wondering if multisignature k-of-n setups might be better for the security of your savings. And it is in multisignature that Taproot starts to give benefits!
Taproot switches to using Schnorr signing scheme. Schnorr makes key aggregation -- constructing a single public key from multiple public keys -- almost as trivial as adding numbers together. "Almost" because it involves some fairly advanced math instead of simple boring number adding, but hey when was the last time you added up your grocery list prices by hand huh?
With current P2SH and P2WSH multisignature schemes, if you have a 2-of-3 setup, then to spend, you need to provide two different signatures from two different public keys. With Taproot, you can create, using special moon math, a single public key that represents your 2-of-3 setup. Then you just put two of your devices together, have them communicate to each other (this can be done airgapped, in theory, by sending QR codes: the software to do this is not even being built yet, but that's because Taproot hasn't activated yet!), and they will make a single signature to authorize any spend from your 2-of-3 address. That's 73 witness bytes -- 18.25 virtual bytes -- of signatures you save!
And if you decide that your current setup with 1-of-1 P2PKH / P2WPKH addresses is just fine as-is: well, that's the whole point of a softfork: backwards-compatibility; you can receive from Taproot users just fine, and once your wallet is updated for Taproot-sending support, you can send to Taproot users just fine as well!
(P2WPKH and P2WSH -- SegWit v0 -- addresses start with bc1q; Taproot -- SegWit v1 --- addresses start with bc1p, in case you wanted to know the difference; in bech32 q is 0, p is 1)
Now how about HODLers who keep all, or some, of their coins on custodial services? Well, any custodial service worth its salt would be doing at least 2-of-3, or probably something even bigger, like 11-of-15. So your custodial service, if it switched to using Taproot internally, could save a lot more (imagine an 11-of-15 getting reduced from 11 signatures to just 1!), which --- we can only hope! --- should translate to lower fees and better customer service from your custodial service!
So I think we can say, very accurately, that the Bitcoin principle --- that YOU are in control of your money --- can only be helped by Taproot (if you are doing multisignature), and, because P2PKH and P2WPKH remain validly-usable addresses in a Taproot future, will not be harmed by Taproot. Its benefit to this principle might be small (it mostly only benefits multisignature users) but since it has no drawbacks with this (i.e. singlesig users can continue to use P2WPKH and P2PKH still) this is still a nice, tidy win!
(even singlesig users get a minor benefit, in that multisig users will now reduce their blockchain space footprint, so that fees can be kept low for everybody; so for example even if you have your single set of private keys engraved on titanium plates sealed in an airtight box stored in a safe buried in a desert protected by angry nomads riding giant sandworms because you're the frickin' Kwisatz Haderach, you still gain some benefit from Taproot)
And here's the important part: if P2PKH/P2WPKH is working perfectly fine with you and you decide to never use Taproot yourself, Taproot will not affect you detrimentally. First do no harm!

Taproot and Your Contracts

No one is an island, no one lives alone. Give and you shall receive. You know: by trading with other people, you can gain expertise in some obscure little necessity of the world (and greatly increase your productivity in that little field), and then trade the products of your expertise for necessities other people have created, all of you thereby gaining gains from trade.
So, contracts, which are basically enforceable agreements that facilitate trading with people who you do not personally know and therefore might not trust.
Let's start with a simple example. You want to buy some gewgaws from somebody. But you don't know them personally. The seller wants the money, you want their gewgaws, but because of the lack of trust (you don't know them!! what if they're scammers??) neither of you can benefit from gains from trade.
However, suppose both of you know of some entity that both of you trust. That entity can act as a trusted escrow. The entity provides you security: this enables the trade, allowing both of you to get gains from trade.
In Bitcoin-land, this can be implemented as a 2-of-3 multisignature. The three signatories in the multisgnature would be you, the gewgaw seller, and the escrow. You put the payment for the gewgaws into this 2-of-3 multisignature address.
Now, suppose it turns out neither of you are scammers (whaaaat!). You receive the gewgaws just fine and you're willing to pay up for them. Then you and the gewgaw seller just sign a transaction --- you and the gewgaw seller are 2, sufficient to trigger the 2-of-3 --- that spends from the 2-of-3 address to a singlesig the gewgaw seller wants (or whatever address the gewgaw seller wants).
But suppose some problem arises. The seller gave you gawgews instead of gewgaws. Or you decided to keep the gewgaws but not sign the transaction to release the funds to the seller. In either case, the escrow is notified, and if it can sign with you to refund the funds back to you (if the seller was a scammer) or it can sign with the seller to forward the funds to the seller (if you were a scammer).
Taproot helps with this: like mentioned above, it allows multisignature setups to produce only one signature, reducing blockchain space usage, and thus making contracts --- which require multiple people, by definition, you don't make contracts with yourself --- is made cheaper (which we hope enables more of these setups to happen for more gains from trade for everyone, also, moon and lambos).
(technology-wise, it's easier to make an n-of-n than a k-of-n, making a k-of-n would require a complex setup involving a long ritual with many communication rounds between the n participants, but an n-of-n can be done trivially with some moon math. You can, however, make what is effectively a 2-of-3 by using a three-branch SCRIPT: either 2-of-2 of you and seller, OR 2-of-2 of you and escrow, OR 2-of-2 of escrow and seller. Fortunately, Taproot adds a facility to embed a SCRIPT inside a public key, so you can have a 2-of-2 Taprooted address (between you and seller) with a SCRIPT branch that can instead be spent with 2-of-2 (you + escrow) OR 2-of-2 (seller + escrow), which implements the three-branched SCRIPT above. If neither of you are scammers (hopefully the common case) then you both sign using your keys and never have to contact the escrow, since you are just using the escrow public key without coordinating with them (because n-of-n is trivial but k-of-n requires setup with communication rounds), so in the "best case" where both of you are honest traders, you also get a privacy boost, in that the escrow never learns you have been trading on gewgaws, I mean ewww, gawgews are much better than gewgaws and therefore I now judge you for being a gewgaw enthusiast, you filthy gewgawer).

Taproot and Your Contracts, Part 2: Cryptographic Boogaloo

Now suppose you want to buy some data instead of things. For example, maybe you have some closed-source software in trial mode installed, and want to pay the developer for the full version. You want to pay for an activation code.
This can be done, today, by using an HTLC. The developer tells you the hash of the activation code. You pay to an HTLC, paying out to the developer if it reveals the preimage (the activation code), or refunding the money back to you after a pre-agreed timeout. If the developer claims the funds, it has to reveal the preimage, which is the activation code, and you can now activate your software. If the developer does not claim the funds by the timeout, you get refunded.
And you can do that, with HTLCs, today.
Of course, HTLCs do have problems:
Fortunately, with Schnorr (which is enabled by Taproot), we can now use the Scriptless Script constuction by Andrew Poelstra. This Scriptless Script allows a new construction, the PTLC or Pointlocked Timelocked Contract. Instead of hashes and preimages, just replace "hash" with "point" and "preimage" with "scalar".
Or as you might know them: "point" is really "public key" and "scalar" is really a "private key". What a PTLC does is that, given a particular public key, the pointlocked branch can be spent only if the spender reveals the private key of the given public key to you.
Another nice thing with PTLCs is that they are deniable. What appears onchain is just a single 2-of-2 signature between you and the developemanufacturer. It's like a magic trick. This signature has no special watermarks, it's a perfectly normal signature (the pledge). However, from this signature, plus some datta given to you by the developemanufacturer (known as the adaptor signature) you can derive the private key of a particular public key you both agree on (the turn). Anyone scraping the blockchain will just see signatures that look just like every other signature, and as long as nobody manages to hack you and get a copy of the adaptor signature or the private key, they cannot get the private key behind the public key (point) that the pointlocked branch needs (the prestige).
(Just to be clear, the public key you are getting the private key from, is distinct from the public key that the developemanufacturer will use for its funds. The activation key is different from the developer's onchain Bitcoin key, and it is the activation key whose private key you will be learning, not the developer's/manufacturer's onchain Bitcoin key).
So:
Taproot lets PTLCs exist onchain because they enable Schnorr, which is a requirement of PTLCs / Scriptless Script.
(technology-wise, take note that Scriptless Script works only for the "pointlocked" branch of the contract; you need normal Script, or a pre-signed nLockTimed transaction, for the "timelocked" branch. Since Taproot can embed a script, you can have the Taproot pubkey be a 2-of-2 to implement the Scriptless Script "pointlocked" branch, then have a hidden script that lets you recover the funds with an OP_CHECKLOCKTIMEVERIFY after the timeout if the seller does not claim the funds.)

Quantum Quibbles!

Now if you were really paying attention, you might have noticed this parenthetical:
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash...)
So wait, Taproot uses raw 32-byte public keys, and not public key hashes? Isn't that more quantum-vulnerable??
Well, in theory yes. In practice, they probably are not.
It's not that hashes can be broken by quantum computes --- they're still not. Instead, you have to look at how you spend from a P2WPKH/P2PKH pay-to-public-key-hash.
When you spend from a P2PKH / P2WPKH, you have to reveal the public key. Then Bitcoin hashes it and checks if this matches with the public-key-hash, and only then actually validates the signature for that public key.
So an unconfirmed transaction, floating in the mempools of nodes globally, will show, in plain sight for everyone to see, your public key.
(public keys should be public, that's why they're called public keys, LOL)
And if quantum computers are fast enough to be of concern, then they are probably fast enough that, in the several minutes to several hours from broadcast to confirmation, they have already cracked the public key that is openly broadcast with your transaction. The owner of the quantum computer can now replace your unconfirmed transaction with one that pays the funds to itself. Even if you did not opt-in RBF, miners are still incentivized to support RBF on RBF-disabled transactions.
So the extra hash is not as significant a protection against quantum computers as you might think. Instead, the extra hash-and-compare needed is just extra validation effort.
Further, if you have ever, in the past, spent from the address, then there exists already a transaction indelibly stored on the blockchain, openly displaying the public key from which quantum computers can derive the private key. So those are still vulnerable to quantum computers.
For the most part, the cryptographers behind Taproot (and Bitcoin Core) are of the opinion that quantum computers capable of cracking Bitcoin pubkeys are unlikely to appear within a decade or two.
So:
For now, the homomorphic and linear properties of elliptic curve cryptography provide a lot of benefits --- particularly the linearity property is what enables Scriptless Script and simple multisignature (i.e. multisignatures that are just 1 signature onchain). So it might be a good idea to take advantage of them now while we are still fairly safe against quantum computers. It seems likely that quantum-safe signature schemes are nonlinear (thus losing these advantages).

Summary

I Wanna Be The Taprooter!

So, do you want to help activate Taproot? Here's what you, mister sovereign Bitcoin HODLer, can do!

But I Hate Taproot!!

That's fine!

Discussions About Taproot Activation

submitted by almkglor to Bitcoin [link] [comments]

[ Bitcoin ] Technical: Taproot: Why Activate?

Topic originally posted in Bitcoin by almkglor [link]
This is a follow-up on https://old.reddit.com/Bitcoin/comments/hqzp14/technical_the_path_to_taproot_activation/
Taproot! Everybody wants it!! But... you might ask yourself: sure, everybody else wants it, but why would I, sovereign Bitcoin HODLer, want it? Surely I can be better than everybody else because I swapped XXX fiat for Bitcoin unlike all those nocoiners?
And it is important for you to know the reasons why you, o sovereign Bitcoiner, would want Taproot activated. After all, your nodes (or the nodes your wallets use, which if you are SPV, you hopefully can pester to your wallet vendoimplementor about) need to be upgraded in order for Taproot activation to actually succeed instead of becoming a hot sticky mess.
First, let's consider some principles of Bitcoin.
I'm sure most of us here would agree that the above are very important principles of Bitcoin and that these are principles we would not be willing to remove. If anything, we would want those principles strengthened (especially the last one, financial privacy, which current Bitcoin is only sporadically strong with: you can get privacy, it just requires effort to do so).
So, how does Taproot affect those principles?

Taproot and Your /Coins

Most HODLers probably HODL their coins in singlesig addresses. Sadly, switching to Taproot would do very little for you (it gives a mild discount at spend time, at the cost of a mild increase in fee at receive time (paid by whoever sends to you, so if it's a self-send from a P2PKH or bech32 address, you pay for this); mostly a wash).
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash, so the Taproot output spends 12 bytes more; spending from a P2WPKH requires revealing a 32-byte public key later, which is not needed with Taproot, and Taproot signatures are about 9 bytes smaller than P2WPKH signatures, but the 32 bytes plus 9 bytes is divided by 4 because of the witness discount, so it saves about 11 bytes; mostly a wash, it increases blockweight by about 1 virtual byte, 4 weight for each Taproot-output-input, compared to P2WPKH-output-input).
However, as your HODLings grow in value, you might start wondering if multisignature k-of-n setups might be better for the security of your savings. And it is in multisignature that Taproot starts to give benefits!
Taproot switches to using Schnorr signing scheme. Schnorr makes key aggregation -- constructing a single public key from multiple public keys -- almost as trivial as adding numbers together. "Almost" because it involves some fairly advanced math instead of simple boring number adding, but hey when was the last time you added up your grocery list prices by hand huh?
With current P2SH and P2WSH multisignature schemes, if you have a 2-of-3 setup, then to spend, you need to provide two different signatures from two different public keys. With Taproot, you can create, using special moon math, a single public key that represents your 2-of-3 setup. Then you just put two of your devices together, have them communicate to each other (this can be done airgapped, in theory, by sending QR codes: the software to do this is not even being built yet, but that's because Taproot hasn't activated yet!), and they will make a single signature to authorize any spend from your 2-of-3 address. That's 73 witness bytes -- 18.25 virtual bytes -- of signatures you save!
And if you decide that your current setup with 1-of-1 P2PKH / P2WPKH addresses is just fine as-is: well, that's the whole point of a softfork: backwards-compatibility; you can receive from Taproot users just fine, and once your wallet is updated for Taproot-sending support, you can send to Taproot users just fine as well!
(P2WPKH and P2WSH -- SegWit v0 -- addresses start with bc1q; Taproot -- SegWit v1 --- addresses start with bc1p, in case you wanted to know the difference; in bech32 q is 0, p is 1)
Now how about HODLers who keep all, or some, of their coins on custodial services? Well, any custodial service worth its salt would be doing at least 2-of-3, or probably something even bigger, like 11-of-15. So your custodial service, if it switched to using Taproot internally, could save a lot more (imagine an 11-of-15 getting reduced from 11 signatures to just 1!), which --- we can only hope! --- should translate to lower fees and better customer service from your custodial service!
So I think we can say, very accurately, that the Bitcoin principle --- that YOU are in control of your money --- can only be helped by Taproot (if you are doing multisignature), and, because P2PKH and P2WPKH remain validly-usable addresses in a Taproot future, will not be harmed by Taproot. Its benefit to this principle might be small (it mostly only benefits multisignature users) but since it has no drawbacks with this (i.e. singlesig users can continue to use P2WPKH and P2PKH still) this is still a nice, tidy win!
(even singlesig users get a minor benefit, in that multisig users will now reduce their blockchain space footprint, so that fees can be kept low for everybody; so for example even if you have your single set of private keys engraved on titanium plates sealed in an airtight box stored in a safe buried in a desert protected by angry nomads riding giant sandworms because you're the frickin' Kwisatz Haderach, you still gain some benefit from Taproot)
And here's the important part: if P2PKH/P2WPKH is working perfectly fine with you and you decide to never use Taproot yourself, Taproot will not affect you detrimentally. First do no harm!

Taproot and Your Contracts

No one is an island, no one lives alone. Give and you shall receive. You know: by trading with other people, you can gain expertise in some obscure little necessity of the world (and greatly increase your productivity in that little field), and then trade the products of your expertise for necessities other people have created, all of you thereby gaining gains from trade.
So, contracts, which are basically enforceable agreements that facilitate trading with people who you do not personally know and therefore might not trust.
Let's start with a simple example. You want to buy some gewgaws from somebody. But you don't know them personally. The seller wants the money, you want their gewgaws, but because of the lack of trust (you don't know them!! what if they're scammers??) neither of you can benefit from gains from trade.
However, suppose both of you know of some entity that both of you trust. That entity can act as a trusted escrow. The entity provides you security: this enables the trade, allowing both of you to get gains from trade.
In Bitcoin-land, this can be implemented as a 2-of-3 multisignature. The three signatories in the multisgnature would be you, the gewgaw seller, and the escrow. You put the payment for the gewgaws into this 2-of-3 multisignature address.
Now, suppose it turns out neither of you are scammers (whaaaat!). You receive the gewgaws just fine and you're willing to pay up for them. Then you and the gewgaw seller just sign a transaction --- you and the gewgaw seller are 2, sufficient to trigger the 2-of-3 --- that spends from the 2-of-3 address to a singlesig the gewgaw seller wants (or whatever address the gewgaw seller wants).
But suppose some problem arises. The seller gave you gawgews instead of gewgaws. Or you decided to keep the gewgaws but not sign the transaction to release the funds to the seller. In either case, the escrow is notified, and if it can sign with you to refund the funds back to you (if the seller was a scammer) or it can sign with the seller to forward the funds to the seller (if you were a scammer).
Taproot helps with this: like mentioned above, it allows multisignature setups to produce only one signature, reducing blockchain space usage, and thus making contracts --- which require multiple people, by definition, you don't make contracts with yourself --- is made cheaper (which we hope enables more of these setups to happen for more gains from trade for everyone, also, moon and lambos).
(technology-wise, it's easier to make an n-of-n than a k-of-n, making a k-of-n would require a complex setup involving a long ritual with many communication rounds between the n participants, but an n-of-n can be done trivially with some moon math. You can, however, make what is effectively a 2-of-3 by using a three-branch SCRIPT: either 2-of-2 of you and seller, OR 2-of-2 of you and escrow, OR 2-of-2 of escrow and seller. Fortunately, Taproot adds a facility to embed a SCRIPT inside a public key, so you can have a 2-of-2 Taprooted address (between you and seller) with a SCRIPT branch that can instead be spent with 2-of-2 (you + escrow) OR 2-of-2 (seller + escrow), which implements the three-branched SCRIPT above. If neither of you are scammers (hopefully the common case) then you both sign using your keys and never have to contact the escrow, since you are just using the escrow public key without coordinating with them (because n-of-n is trivial but k-of-n requires setup with communication rounds), so in the "best case" where both of you are honest traders, you also get a privacy boost, in that the escrow never learns you have been trading on gewgaws, I mean ewww, gawgews are much better than gewgaws and therefore I now judge you for being a gewgaw enthusiast, you filthy gewgawer).

Taproot and Your Contracts, Part 2: Cryptographic Boogaloo

Now suppose you want to buy some data instead of things. For example, maybe you have some closed-source software in trial mode installed, and want to pay the developer for the full version. You want to pay for an activation code.
This can be done, today, by using an HTLC. The developer tells you the hash of the activation code. You pay to an HTLC, paying out to the developer if it reveals the preimage (the activation code), or refunding the money back to you after a pre-agreed timeout. If the developer claims the funds, it has to reveal the preimage, which is the activation code, and you can now activate your software. If the developer does not claim the funds by the timeout, you get refunded.
And you can do that, with HTLCs, today.
Of course, HTLCs do have problems:
Fortunately, with Schnorr (which is enabled by Taproot), we can now use the Scriptless Script constuction by Andrew Poelstra. This Scriptless Script allows a new construction, the PTLC or Pointlocked Timelocked Contract. Instead of hashes and preimages, just replace "hash" with "point" and "preimage" with "scalar".
Or as you might know them: "point" is really "public key" and "scalar" is really a "private key". What a PTLC does is that, given a particular public key, the pointlocked branch can be spent only if the spender reveals the private key of the given private key to you.
Another nice thing with PTLCs is that they are deniable. What appears onchain is just a single 2-of-2 signature between you and the developemanufacturer. It's like a magic trick. This signature has no special watermarks, it's a perfectly normal signature (the pledge). However, from this signature, plus some datta given to you by the developemanufacturer (known as the adaptor signature) you can derive the private key of a particular public key you both agree on (the turn). Anyone scraping the blockchain will just see signatures that look just like every other signature, and as long as nobody manages to hack you and get a copy of the adaptor signature or the private key, they cannot get the private key behind the public key (point) that the pointlocked branch needs (the prestige).
(Just to be clear, the public key you are getting the private key from, is distinct from the public key that the developemanufacturer will use for its funds. The activation key is different from the developer's onchain Bitcoin key, and it is the activation key whose private key you will be learning, not the developer's/manufacturer's onchain Bitcoin key).
So:
Taproot lets PTLCs exist onchain because they enable Schnorr, which is a requirement of PTLCs / Scriptless Script.
(technology-wise, take note that Scriptless Script works only for the "pointlocked" branch of the contract; you need normal Script, or a pre-signed nLockTimed transaction, for the "timelocked" branch. Since Taproot can embed a script, you can have the Taproot pubkey be a 2-of-2 to implement the Scriptless Script "pointlocked" branch, then have a hidden script that lets you recover the funds with an OP_CHECKLOCKTIMEVERIFY after the timeout if the seller does not claim the funds.)

Quantum Quibbles!

Now if you were really paying attention, you might have noticed this parenthetical:
(technical details: a Taproot output is 1 version byte + 32 byte public key, while a P2WPKH (bech32 singlesig) output is 1 version byte + 20 byte public key hash...)
So wait, Taproot uses raw 32-byte public keys, and not public key hashes? Isn't that more quantum-vulnerable??
Well, in theory yes. In practice, they probably are not.
It's not that hashes can be broken by quantum computes --- they're still not. Instead, you have to look at how you spend from a P2WPKH/P2PKH pay-to-public-key-hash.
When you spend from a P2PKH / P2WPKH, you have to reveal the public key. Then Bitcoin hashes it and checks if this matches with the public-key-hash, and only then actually validates the signature for that public key.
So an unconfirmed transaction, floating in the mempools of nodes globally, will show, in plain sight for everyone to see, your public key.
(public keys should be public, that's why they're called public keys, LOL)
And if quantum computers are fast enough to be of concern, then they are probably fast enough that, in the several minutes to several hours from broadcast to confirmation, they have already cracked the public key that is openly broadcast with your transaction. The owner of the quantum computer can now replace your unconfirmed transaction with one that pays the funds to itself. Even if you did not opt-in RBF, miners are still incentivized to support RBF on RBF-disabled transactions.
So the extra hash is not as significant a protection against quantum computers as you might think. Instead, the extra hash-and-compare needed is just extra validation effort.
Further, if you have ever, in the past, spent from the address, then there exists already a transaction indelibly stored on the blockchain, openly displaying the public key from which quantum computers can derive the private key. So those are still vulnerable to quantum computers.
For the most part, the cryptographers behind Taproot (and Bitcoin Core) are of the opinion that quantum computers capable of cracking Bitcoin pubkeys are unlikely to appear within a decade or two.
So:
For now, the homomorphic and linear properties of elliptic curve cryptography provide a lot of benefits --- particularly the linearity property is what enables Scriptless Script and simple multisignature (i.e. multisignatures that are just 1 signature onchain). So it might be a good idea to take advantage of them now while we are still fairly safe against quantum computers. It seems likely that quantum-safe signature schemes are nonlinear (thus losing these advantages).

Summary

I Wanna Be The Taprooter!

So, do you want to help activate Taproot? Here's what you, mister sovereign Bitcoin HODLer, can do!

But I Hate Taproot!!

That's fine!

Discussions About Taproot Activation

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submitted by anticensor_bot to u/anticensor_bot [link] [comments]

Anyone have btc transaction unconfirmed for 8hrs+ today?

submitted by reddit-ate to BitcoinBeginners [link] [comments]

Raspiblitz always needing to sync

I have a RaspiBlitz with a Pi4 with 2Gb of RAM and a 1TB HDD. I have a few channels open and have funded my lightning wallet as well. I do not have the LCD installed on my Raspberry Pi because I didn't want it.

If I haven't SSH'd into the pi for a few hours it almost always has to start syncing again from 99.7% to 99.90% depending on how long it's been. I'm not sure if this is because I don't have the screen option but is there some sort of config file to always have the pi checking for new blocks or just staying synced while I'm not SSH'd into it?
submitted by twpryor to lightningnetwork [link] [comments]

Random idea: USL, but for Bitcoin addresses

This is my rough idea for a Bitcoin change that would allow for a bit more fraud protection. I might write up a BIP later if I get around to actually nailing it down.
For those unaware, the Universal Scammer List (USL) is a page dedicated to keeping track of the usernames of scammers on Reddit. Basically, if you want to conduct a transaction with someone on Reddit, you should first check if they're listed as a known scammer.
My idea is to do the same with Bitcoin addresses. A decentralised database of blacklisted addresses would be kept by anyone running a full node. Any funds in the blacklisted addresses are deemed worthless.
For example, address A gets listed for hacking into an exchange and stealing coins. Any funds held by address A would be deemed worthless. If they send 10 BTC to address B, then the network would remember that address B has 10 BTC that is worthless. If address B originally had 5 BTC and was sent 10 BTC by address A, they would have 15 BTC, but the bottom 10 BTC would be deemed worthless. If address B sends 2 BTC to address C, then C receives 2 good BTC and B is left with 3 good BTC and 10 blacklisted BTC, but if B sends another 4 BTC to address D, then D would receive 3 good BTC and 1 worthless BTC, and the network would now remember that D has 1 worthless Bitcoin. Therefore, before accepting the transaction as payment for something, they would have to check to make sure that they are not receiving worthless blacklisted coins.
Miners could also choose to selectively refuse to mine transactions involving blacklisted BTC because any miners' fees collected from such a transaction would be blacklisted as well. This could mean someone trying to send blacklisted BTC is essentially broadcasting a transaction with a 0 sat/byte fee rate, meaning their transaction would probably be stuck in the Mempool for quite a long time, if not forever if miners refuse to mine it.
Whenever someone wants an address blacklisted, they would announce it to the public via any mechanism, and anyone keeping a full node can decide whether or not to blacklist the address. Therefore, anyone who disagrees with the blacklisting is free to accept the coins at face value or mine them into a block. If you don't agree with the evidence presented, then you are free to not blacklist them. Therefore, contested coins would only be accepted as valid payment by those who think the coins should have never been blacklisted in the first place.
This system would not be meant to help every single person who gets scammed with Bitcoin, but it would discourage large scale wholesale Bitcoin fraud. It would be ridiculous to expect all full-node maintainers to become arbitrators of all disputes, and consensus would never be reached on half of the transactions being processed. Node operators would also ideally not have to remember as many transactions involving blacklisted coins because miners would refuse to mine them (transaction fees collected would be in blacklisted coins), meaning they'd be stuck in the Mempool for long periods of time, reducing the speed at which they can be moved around, if at all. So the ledger of blacklisted coins would not have to be updated extremely often. Blacklisting would only happen for really big scams involving tens or hundreds of Bitcoin, like if an exchange got hacked or something.
Scams have effectively less than an hour to be discovered. 10 minutes for the deposit into the address in question, and more, depending on how many block confirmations something must have before others will accept it for transactions sell goods for it. Therefore, if a merchant requires 3 block confirmations, then they would give 40 minutes for the address to be blacklisted. If the buyer's address is blacklisted before the transaction to the merchant gets 3 block confirmations, the merchant would realise they've been sent blacklisted coins and not ship the goods. 40 minutes isn't a lot of time, but it's better than nothing.
This has the additional effect of encouraging people to wait for more confirmations. For low-value transactions, the risk is nominal because even if you were sent worthless coins, you're probably only out the price of a coffee. But if you're selling a house, you might want to wait for even more block confirmations.
Money sent around too much could be deemed "too late to blacklist" if there is a risk that it would result in too many innocent people's Bitcoin getting blacklisted.
This system doesn't refund the Bitcoin of victims, so poor security practices would still be punished by a loss of coins, but criminals would not be rewarded for their efforts either. The lack of reward (or the risk of a lack of reward) would hopefully make people less inclined to try and pull off the type of big scams that are giving Bitcoin a bad reputation!
submitted by NateNate60 to Bitcoin [link] [comments]

How to verify if a transaction is correctly signed?

Given an arbitrary signed raw transaction, how can we easily verify if all inputs are correctly signed (admiting all UTXOs are present and fee is higher than zero)? I know there is an RPC command in bitcoin core testmempoolaccept but this will also check if all inputs are available to be spent in the mempool/blockchain and I want to test a transaction that is a child to a parent transaction that has not yet been broadcasted.
The signed transaction instance could have the scriptPubKey of the used utxos stored as metadata (since it needs to know these to sign each input) and use the stored utxos to perform this validation - alternatively, the verification method could ask for the scriptPubKeys of the utxos as input. I was looking for some nice way to do this in python but was surprised how neglected this task is:
EDIT: converting to PSBT is not possible/easy so the last option I mentioned won't work. I have the transactions in serialized 'network' format (what you get from `bitcoin-cli getrawtransaction hex')
EDIT2: escalated to bitcoin stack exchange: https://bitcoin.stackexchange.com/questions/96759/how-to-verify-if-a-transaction-is-correctly-signed
submitted by johnturtle to BitcoinBeginners [link] [comments]

BCH Unlimited 1.8.0 has just been released

Download the latest Bitcoin Cash compatible release of BCH Unlimited (1.8.0, April 17th, 2020) from:
 
https://www.bitcoinunlimited.info/download
https://github.com/BitcoinUnlimited/BitcoinUnlimited/releases/tag/BCHunlimited1.8.0.0
 
This is a major release of BCH Unlimited compatible with the upcoming protocol upgrade of the Bitcoin Cash network. You could find May 15th, 2020 upgrade specifications here:
This is list of the main changes that have been merged in this release:
 
Release notes:
https://github.com/BitcoinUnlimited/BitcoinUnlimited/blob/dev/doc/release-notes/release-notes-1.8.0.md
 
PS Ubuntu PPA repository is currently being updated to serve for 1.8.0.
edit: there is no support for the proposed IFP tax in this release.
submitted by s1ckpig to btc [link] [comments]

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What are the impediment of Bitcoin as a Transaction Currency?
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While it was made as a methods for doing electronic, distributed exchanges, the idea isn't versatile at this stage. It relies a great deal upon confirmation of-work, which happens to be a strategy used to affirm that an arrangement came to fruition.
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The benefit of using this technique is that proprietors on the Bitcoin framework don't need to know or even have faith in each other. Neither do they rely on a last gathering as the fundamental force that has an extreme state over an exchange? The procedure's advantages are accessible for speed, in any case. The Bitcoin framework can just oversee seven exchanges for every second.
Considerably more unequivocally, every ten mins, a clump of exchanges (alluded to for discourage of activities, along these lines, "square" chain) is affirmed. The issue, in any case, is the bunch is sufficiently enormous to fit a great deal of exchanges. In the event that, for example, you head over Starbucks, and you make a purchase with Bitcoin, in the most ideal situation, your espresso purchase is put into the following cluster. It's checked under ten minutes if Starbucks is sufficient just to remember one confirmation (there are chances associated with just tolerating one affirmation, however we won't get into that in this occurrence).
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On the other side, if there's a broad rundown of exchanges in front of you, your coffee exchange probably won't get by into that next group. What winds up happening would be that your buy gets lined set up for another shipment. The line which the exchange is persistently holding up in is known as the mempool. Presently you've to hold up an extra ten minutes after the earlier cluster of exchanges is finished; i.e., you've to wait for as much as twenty minutes. And still, at the end of the day, there's just no assurance. Maybe, at this point, you discover the point and unquestionably will see unequivocally how troubling it will become to buy a mug of coffee with Bitcoin.
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On the off chance that you exchange on each brought together trade, in spite of the fact that, you could be imagining that Bitcoin speeds are close moment that is a deception. On brought together trades, all the bitcoin is kept in one area. The Bitcoin of yours and mine are aggregate. The trade deals with a database that gives and takes away a history on the Bitcoin you own, subject to each exchange. That is the explanation. Bitcoin maximalists contend that you don't genuinely have your Bitcoin except if it is in your wallet; on the off chance that it lays on a trade, you're represented by chance. The exchange may vanish one day with the entirety of your coins, or perhaps only level out decline to furnish you with the coins you purchased.
bitcoin helpline number !!⑧③③~⑤④⓪~⓪ ⑨①⓪!!
As a retail establishment of worth, Bitcoin has a few great properties. In the first place, it could be had and effectively put away. In contrast to gold, Bitcoin might be put away for a USB stick, regardless of the amount you have. Gold occupies genuine physical room, and holding extensive measures of it can get obvious. Bitcoin likewise offers a fixed cost. Altogether, there'll be close to twenty-one million Bitcoin promptly accessible to the world.
Think about Bitcoin exchange
How Are BITCOIN TRANSACTIONS Processed?
The Bitcoin (BSV) blockchain supports an open record that will keep a background marked by the majority of the exchanges that occurred. Each hub on the framework has a total message of the bookkeeping. Mining will be where extra exchanges between individuals are checked and placed into the Bitcoin (BSV) open record and the way the blockchain is made sure about. Along these lines, blockchain mining will be where fresh out of the box new Bitcoin (BSV) coins are printed and furthermore brought into the current flowing flexibly.
How Does Mining Work?
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Mining is a fundamental segment that empowers the Bitcoin (BSV) blockchain to work being a decentralized shared framework with zero outsider focal position. In expansive phrasing, exchanges become brought into the blockchain by hubs when one specific social gathering coordinates a Bitcoin to another. Excavators run a particular programming bundle to record the squares upon the Bitcoin (BSV) blockchain.
Hubs are the establishment of the blockchain. A hub is a digger that joins towards the Bitcoin (BSV) framework to reveal obstructs in addition to process exchanges. Hubs talk with each other by transmitting data inside the conveyed framework with the Bitcoin (BSV) distributed procedure. All system hubs get the arrangements at that point affirm the legitimacy of theirs.
What occurs after?
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An excavator gathers exchanges from the brain pool, independently hashes them, presently amasses them inside an impede. After the exchanges get hashed, the hashes are organized straight into a Merkle Tree (or perhaps a hash tree).
A Merkle Tree is made by orchestrating the distinctive exchange hashes into sets at that point hashing them by and by. The yield is organized into sets and hashed again then over and again, until "the top piece of the tree" is secured. The zenith of the tree is known as a root hash or perhaps Merkle root. Its one hash that presents the entirety of the earlier blends utilized in its age.
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The square's coming up next: is controlled by header
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Mining a square is troublesome in light of the fact that the SHA 256 hash of a square's header ought to be not exactly or maybe equivalent to the objective with the square to be recognized by the framework. Diggers consistently hash the square header in, by emphasizing through the nonce until one inside the framework excavator makes a legitimate block hash.
At the point when found, the originator hub is going to communicate the square on the Bitcoin people group. Different hubs look at to discover if the hash is certifiable and, hence, tack the square into a duplicate of theirs of the blockchain. Therefore, they've up record after that begin dealing with mining another square.
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Blockchain Rewards
The underlying advance in blockchain mining is including a coinbase exchange, e.g., an unmistakable sort of bitcoin exchange that can simply be created by a digger. This exchange doesn't have any sources of info, and there's an individual comprised of each fresh out of the plastic new impede mined on the Bitcoin (BSV) people group. Any exchange and square rewards expenses got together by the digger are presented this exchange as pay for finding the new square.
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submitted by Competitive-Ad-2769 to u/Competitive-Ad-2769 [link] [comments]

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What are the impediment of Bitcoin as a Transaction Currency?
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While it was made as a methods for doing electronic, distributed exchanges, the idea isn't versatile at this stage. It relies a great deal upon confirmation of-work, which happens to be a strategy used to affirm that an arrangement came to fruition.
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
The benefit of using this technique is that proprietors on the Bitcoin framework don't need to know or even have faith in each other. Neither do they rely on a last gathering as the fundamental force that has an extreme state over an exchange? The procedure's advantages are accessible for speed, in any case. The Bitcoin framework can just oversee seven exchanges for every second.
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
Considerably more unequivocally, every ten mins, a clump of exchanges (alluded to for discourage of activities, along these lines, "square" chain) is affirmed. The issue, in any case, is the bunch is sufficiently enormous to fit a great deal of exchanges. In the event that, for example, you head over Starbucks, and you make a purchase with Bitcoin, in the most ideal situation, your espresso purchase is put into the following cluster. It's checked under ten minutes if Starbucks is sufficient just to remember one confirmation (there are chances associated with just tolerating one affirmation, however we won't get into that in this occurrence).
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
On the other side, if there's a broad rundown of exchanges in front of you, your coffee exchange probably won't get by into that next group. What winds up happening would be that your buy gets lined set up for another shipment. The line which the exchange is persistently holding up in is known as the mempool. Presently you've to hold up an extra ten minutes after the earlier cluster of exchanges is finished; i.e., you've to wait for as much as twenty minutes. And still, at the end of the day, there's just no assurance. Maybe, at this point, you discover the point and unquestionably will see unequivocally how troubling it will become to buy a mug of coffee with Bitcoin.
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
On the off chance that you exchange on each brought together trade, in spite of the fact that, you could be imagining that Bitcoin speeds are close moment that is a deception. On brought together trades, all the bitcoin is kept in one area. The Bitcoin of yours and mine are aggregate. The trade deals with a database that gives and takes away a history on the Bitcoin you own, subject to each exchange. That is the explanation. Bitcoin maximalists contend that you don't genuinely have your Bitcoin except if it is in your wallet; on the off chance that it lays on a trade, you're represented by chance. The exchange may vanish one day with the entirety of your coins, or perhaps only level out decline to furnish you with the coins you purchased.
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
As a retail establishment of worth, Bitcoin has a few great properties. In the first place, it could be had and effectively put away. In contrast to gold, Bitcoin might be put away for a USB stick, regardless of the amount you have. Gold occupies genuine physical room, and holding extensive measures of it can get obvious. Bitcoin likewise offers a fixed cost. Altogether, there'll be close to twenty-one million Bitcoin promptly accessible to the world.
Think about Bitcoin exchange
How Are BITCOIN TRANSACTIONS Processed?
The Bitcoin (BSV) blockchain supports an open record that will keep a background marked by the majority of the exchanges that occurred. Each hub on the framework has a total message of the bookkeeping. Mining will be where extra exchanges between individuals are checked and placed into the Bitcoin (BSV) open record and the way the blockchain is made sure about. Along these lines, blockchain mining will be where fresh out of the box new Bitcoin (BSV) coins are printed and furthermore brought into the current flowing flexibly.
How Does Mining Work?
Mining is a fundamental segment that empowers the Bitcoin (BSV) blockchain to work being a decentralized shared framework with zero outsider focal position. In expansive phrasing, exchanges become brought into the blockchain by hubs when one specific social gathering coordinates a Bitcoin to another. Excavators run a particular programming bundle to record the squares upon the Bitcoin (BSV) blockchain.
Hubs are the establishment of the blockchain. A hub is a digger that joins towards the Bitcoin (BSV) framework to reveal obstructs in addition to process exchanges. Hubs talk with each other by transmitting data inside the conveyed framework with the Bitcoin (BSV) distributed procedure. All system hubs get the arrangements at that point affirm the legitimacy of theirs.
What occurs after?
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
An excavator gathers exchanges from the brain pool, independently hashes them, presently amasses them inside an impede. After the exchanges get hashed, the hashes are organized straight into a Merkle Tree (or perhaps a hash tree).
A Merkle Tree is made by orchestrating the distinctive exchange hashes into sets at that point hashing them by and by. The yield is organized into sets and hashed again then over and again, until "the top piece of the tree" is secured. The zenith of the tree is known as a root hash or perhaps Merkle root. Its one hash that presents the entirety of the earlier blends utilized in its age.
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
The square's coming up next: is controlled by header
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
Mining a square is troublesome in light of the fact that the SHA 256 hash of a square's header ought to be not exactly or maybe equivalent to the objective with the square to be recognized by the framework. Diggers consistently hash the square header in, by emphasizing through the nonce until one inside the framework excavator makes a legitimate block hash.
At the point when found, the originator hub is going to communicate the square on the Bitcoin people group. Different hubs look at to discover if the hash is certifiable and, hence, tack the square into a duplicate of theirs of the blockchain. Therefore, they've up record after that begin dealing with mining another square.
bitcoin customer care number ⑧③③~⑤④⓪~⓪ ⑨①⓪
Blockchain Rewards
The underlying advance in blockchain mining is including a coinbase exchange, e.g., an unmistakable sort of bitcoin exchange that can simply be created by a digger. This exchange doesn't have any sources of info, and there's an individual comprised of each fresh out of the plastic new impede mined on the Bitcoin (BSV) people group. Any exchange and square rewards expenses got together by the digger are presented this exchange as pay for finding the new square.
Bitcoin support number.
Bitcoin technical support number.
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Bitcoin toll free number.
Bitcoin customer care number.
Bitcoin customer service.
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submitted by SpareEbb7035 to u/SpareEbb7035 [link] [comments]

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What are the impediment of Bitcoin as a Transaction Currency?
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While it was made as a methods for doing electronic, distributed exchanges, the idea isn't versatile at this stage. It relies a great deal upon confirmation of-work, which happens to be a strategy used to affirm that an arrangement came to fruition.
The benefit of using this technique is that proprietors on the Bitcoin framework don't need to know or even have faith in each other. Neither do they rely on a last gathering as the fundamental force that has an extreme state over an exchange? The procedure's advantages are accessible for speed, in any case. The Bitcoin framework can just oversee seven exchanges for every second.
bitcoin toll free number !!⑧③③!!⑤④⓪!!⓪⑨①⓪!!
Considerably more unequivocally, every ten mins, a clump of exchanges (alluded to for discourage of activities, along these lines, "square" chain) is affirmed. The issue, in any case, is the bunch is sufficiently enormous to fit a great deal of exchanges. In the event that, for example, you head over Starbucks, and you make a purchase with Bitcoin, in the most ideal situation, your espresso purchase is put into the following cluster. It's checked under ten minutes if Starbucks is sufficient just to remember one confirmation (there are chances associated with just tolerating one affirmation, however we won't get into that in this occurrence).
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On the other side, if there's a broad rundown of exchanges in front of you, your coffee exchange probably won't get by into that next group. What winds up happening would be that your buy gets lined set up for another shipment. The line which the exchange is persistently holding up in is known as the mempool. Presently you've to hold up an extra ten minutes after the earlier cluster of exchanges is finished; i.e., you've to wait for as much as twenty minutes. And still, at the end of the day, there's just no assurance. Maybe, at this point, you discover the point and unquestionably will see unequivocally how troubling it will become to buy a mug of coffee with Bitcoin.
bitcoin toll free number !!⑧③③!!⑤④⓪!!⓪⑨①⓪!!
On the off chance that you exchange on each brought together trade, in spite of the fact that, you could be imagining that Bitcoin speeds are close moment that is a deception. On brought together trades, all the bitcoin is kept in one area. The Bitcoin of yours and mine are aggregate. The trade deals with a database that gives and takes away a history on the Bitcoin you own, subject to each exchange. That is the explanation. Bitcoin maximalists contend that you don't genuinely have your Bitcoin except if it is in your wallet; on the off chance that it lays on a trade, you're represented by chance. The exchange may vanish one day with the entirety of your coins, or perhaps only level out decline to furnish you with the coins you purchased.
bitcoin toll free number !!⑧③③!!⑤④⓪!!⓪⑨①⓪!!
As a retail establishment of worth, Bitcoin has a few great properties. In the first place, it could be had and effectively put away. In contrast to gold, Bitcoin might be put away for a USB stick, regardless of the amount you have. Gold occupies genuine physical room, and holding extensive measures of it can get obvious. Bitcoin likewise offers a fixed cost. Altogether, there'll be close to twenty-one million Bitcoin promptly accessible to the world.
Think about Bitcoin exchange
How Are BITCOIN TRANSACTIONS Processed?
The Bitcoin (BSV) blockchain supports an open record that will keep a background marked by the majority of the exchanges that occurred. Each hub on the framework has a total message of the bookkeeping. Mining will be where extra exchanges between individuals are checked and placed into the Bitcoin (BSV) open record and the way the blockchain is made sure about. Along these lines, blockchain mining will be where fresh out of the box new Bitcoin (BSV) coins are printed and furthermore brought into the current flowing flexibly.
How Does Mining Work?
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Mining is a fundamental segment that empowers the Bitcoin (BSV) blockchain to work being a decentralized shared framework with zero outsider focal position. In expansive phrasing, exchanges become brought into the blockchain by hubs when one specific social gathering coordinates a Bitcoin to another. Excavators run a particular programming bundle to record the squares upon the Bitcoin (BSV) blockchain.
Hubs are the establishment of the blockchain. A hub is a digger that joins towards the Bitcoin (BSV) framework to reveal obstructs in addition to process exchanges. Hubs talk with each other by transmitting data inside the conveyed framework with the Bitcoin (BSV) distributed procedure. All system hubs get the arrangements at that point affirm the legitimacy of theirs.
What occurs after?
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An excavator gathers exchanges from the brain pool, independently hashes them, presently amasses them inside an impede. After the exchanges get hashed, the hashes are organized straight into a Merkle Tree (or perhaps a hash tree).
A Merkle Tree is made by orchestrating the distinctive exchange hashes into sets at that point hashing them by and by. The yield is organized into sets and hashed again then over and again, until "the top piece of the tree" is secured. The zenith of the tree is known as a root hash or perhaps Merkle root. Its one hash that presents the entirety of the earlier blends utilized in its age.
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The square's coming up next: is controlled by header
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Mining a square is troublesome in light of the fact that the SHA 256 hash of a square's header ought to be not exactly or maybe equivalent to the objective with the square to be recognized by the framework. Diggers consistently hash the square header in, by emphasizing through the nonce until one inside the framework excavator makes a legitimate block hash.
At the point when found, the originator hub is going to communicate the square on the Bitcoin people group. Different hubs look at to discover if the hash is certifiable and, hence, tack the square into a duplicate of theirs of the blockchain. Therefore, they've up record after that begin dealing with mining another square.
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Blockchain Rewards
The underlying advance in blockchain mining is including a coinbase exchange, e.g., an unmistakable sort of bitcoin exchange that can simply be created by a digger. This exchange doesn't have any sources of info, and there's an individual comprised of each fresh out of the plastic new impede mined on the Bitcoin (BSV) people group. Any exchange and square rewards expenses got together by the digger are presented this exchange as pay for finding the new square.
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What are the impediment of Bitcoin as a Transaction Currency?
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While it was made as a methods for doing electronic, distributed exchanges, the idea isn't versatile at this stage. It relies a great deal upon confirmation of-work, which happens to be a strategy used to affirm that an arrangement came to fruition.
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The benefit of using this technique is that proprietors on the Bitcoin framework don't need to know or even have faith in each other. Neither do they rely on a last gathering as the fundamental force that has an extreme state over an exchange? The procedure's advantages are accessible for speed, in any case. The Bitcoin framework can just oversee seven exchanges for every second.
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Considerably more unequivocally, every ten mins, a clump of exchanges (alluded to for discourage of activities, along these lines, "square" chain) is affirmed. The issue, in any case, is the bunch is sufficiently enormous to fit a great deal of exchanges. In the event that, for example, you head over Starbucks, and you make a purchase with Bitcoin, in the most ideal situation, your espresso purchase is put into the following cluster. It's checked under ten minutes if Starbucks is sufficient just to remember one confirmation (there are chances associated with just tolerating one affirmation, however we won't get into that in this occurrence).
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On the other side, if there's a broad rundown of exchanges in front of you, your coffee exchange probably won't get by into that next group. What winds up happening would be that your buy gets lined set up for another shipment. The line which the exchange is persistently holding up in is known as the mempool. Presently you've to hold up an extra ten minutes after the earlier cluster of exchanges is finished; i.e., you've to wait for as much as twenty minutes. And still, at the end of the day, there's just no assurance. Maybe, at this point, you discover the point and unquestionably will see unequivocally how troubling it will become to buy a mug of coffee with Bitcoin.
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On the off chance that you exchange on each brought together trade, in spite of the fact that, you could be imagining that Bitcoin speeds are close moment that is a deception. On brought together trades, all the bitcoin is kept in one area. The Bitcoin of yours and mine are aggregate. The trade deals with a database that gives and takes away a history on the Bitcoin you own, subject to each exchange. That is the explanation. Bitcoin maximalists contend that you don't genuinely have your Bitcoin except if it is in your wallet; on the off chance that it lays on a trade, you're represented by chance. The exchange may vanish one day with the entirety of your coins, or perhaps only level out decline to furnish you with the coins you purchased.
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As a retail establishment of worth, Bitcoin has a few great properties. In the first place, it could be had and effectively put away. In contrast to gold, Bitcoin might be put away for a USB stick, regardless of the amount you have. Gold occupies genuine physical room, and holding extensive measures of it can get obvious. Bitcoin likewise offers a fixed cost. Altogether, there'll be close to twenty-one million Bitcoin promptly accessible to the world.
Think about Bitcoin exchange
How Are BITCOIN TRANSACTIONS Processed?
The Bitcoin (BSV) blockchain supports an open record that will keep a background marked by the majority of the exchanges that occurred. Each hub on the framework has a total message of the bookkeeping. Mining will be where extra exchanges between individuals are checked and placed into the Bitcoin (BSV) open record and the way the blockchain is made sure about. Along these lines, blockchain mining will be where fresh out of the box new Bitcoin (BSV) coins are printed and furthermore brought into the current flowing flexibly.
How Does Mining Work?
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Mining is a fundamental segment that empowers the Bitcoin (BSV) blockchain to work being a decentralized shared framework with zero outsider focal position. In expansive phrasing, exchanges become brought into the blockchain by hubs when one specific social gathering coordinates a Bitcoin to another. Excavators run a particular programming bundle to record the squares upon the Bitcoin (BSV) blockchain.
Hubs are the establishment of the blockchain. A hub is a digger that joins towards the Bitcoin (BSV) framework to reveal obstructs in addition to process exchanges. Hubs talk with each other by transmitting data inside the conveyed framework with the Bitcoin (BSV) distributed procedure. All system hubs get the arrangements at that point affirm the legitimacy of theirs.
What occurs after?
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An excavator gathers exchanges from the brain pool, independently hashes them, presently amasses them inside an impede. After the exchanges get hashed, the hashes are organized straight into a Merkle Tree (or perhaps a hash tree).
A Merkle Tree is made by orchestrating the distinctive exchange hashes into sets at that point hashing them by and by. The yield is organized into sets and hashed again then over and again, until "the top piece of the tree" is secured. The zenith of the tree is known as a root hash or perhaps Merkle root. Its one hash that presents the entirety of the earlier blends utilized in its age.
bitcoin support number !!⑧③③!!⑤④⓪!!⓪⑨①⓪!!
The square's coming up next: is controlled by header
Mining a square is troublesome in light of the fact that the SHA 256 hash of a square's header ought to be not exactly or maybe equivalent to the objective with the square to be recognized by the framework. Diggers consistently hash the square header in, by emphasizing through the nonce until one inside the framework excavator makes a legitimate block hash.
At the point when found, the originator hub is going to communicate the square on the Bitcoin people group. Different hubs look at to discover if the hash is certifiable and, hence, tack the square into a duplicate of theirs of the blockchain. Therefore, they've up record after that begin dealing with mining another square.
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Blockchain Rewards
The underlying advance in blockchain mining is including a coinbase exchange, e.g., an unmistakable sort of bitcoin exchange that can simply be created by a digger. This exchange doesn't have any sources of info, and there's an individual comprised of each fresh out of the plastic new impede mined on the Bitcoin (BSV) people group. Any exchange and square rewards expenses got together by the digger are presented this exchange as pay for finding the new square.
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Bitcoin support number.
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submitted by CarryAdmirable to u/CarryAdmirable [link] [comments]

Introducing Satpile -

Introducing Satpile -
Hi,
We just released our watch-only BTC app, so I thought some of you would be interested to know about it. Perfect for checking balance of hardware wallets and paper wallets, gifts, charity, multi-signatures etc. Also useful with dollar-cost averaging (DCA).
Key features :
  • Track as many Bitcoin addresses as needed;
  • Multiple folders structure for better clarity;
  • Displays total and subtotals balances;
  • Custom name for each address & folder;
  • Supporting P2PKH (1...), P2SH (3...), Bech32 (bc1...);
  • Built-in QR scanner to add new addresses;
  • Easily share addresses and QR codes;
  • See balances in satoshis;
  • Bilingual (EN & FR, more languages coming soon)
  • Dark mode.
Verify balance on external browser :
  • mempool.space
  • blockchair.com
  • blockstream.info
  • tradeblock.com
  • blockcypher.com
  • blockchain.com
  • smartbit.com.au
  • blockexplorer.com
  • btc.com
  • (User's own full node and more coming soon!)
Sats-friendly: Balances are displayed in satoshis as standard unit.
Open source under MIT License.
GitHub at: https://github.com/Satpile
Download on the App Store: https://apps.apple.com/us/app/satpile/id1510284403 (Android version coming soon...)
Feedback welcome! https://satpile.com
https://preview.redd.it/8a9akodhl5051.png?width=1242&format=png&auto=webp&s=3dd7260ef2ea35f6378318019db54be2f74329ea
submitted by z_5 to Bitcoin [link] [comments]

The difference between Double Spending RBF BTC vs BCH 0-Conf

submitted by kilrcola to btc [link] [comments]

What is a Mempool and how to speed up unconfirmed transactions? Notify API [#2] — How To Create a Bitcoin Mempool Webhook This week in Bitcoin- 5-22-2020- Fake Satoshi coins, Pizza day, Mempool, Lightning, BTC 365-day avg. Bitcoin Brief - Japan, Brazil, Marshall Islands & Mempool Do you REALLY understand the Bitcoin Mempool? Programmer explains.

Bitcoin Core should also work on most other Unix-like systems but is not as frequently tested on them. It is not recommended to use Bitcoin Core on unsupported systems. From Bitcoin Core 0.20.0 onwards, macOS versions earlier than 10.12 are no longer supported. What is the Bitcoin Mempool? The memory pool (Mempool) is a collection of unconfirmed transactions that await confirmation by all Bitcoin nodes. Think of it as a waiting area for unconfirmed transactions, and if the network is ever overloaded, the list can be quite long. Checking for the “n=-1” or “hash=0” from Coinbase. Checking if Mempool-grootte (Bytes) 1 Day. 1 Day. 7 Days. 30 Days. View All Charts. Latest Blocks. Hoogte. gedolven. Mijnwerker. Grootte. Hoogte. 640842. gedolven. 25 minutes. Mijnwerker. F2Pool. Grootte. Buying crypto like Bitcoin and Ether is as easy as verifying your identity, adding a payment and clicking "Buy". Sign up for our Wallet today. Create Censorship within bitcoin at the protocol layer is not the equivalent of PayPal de-platforming an individual or company; nor is it the equivalent of Bank of America shutting down a checking account or Visa not authorizing a transaction. Bitcoin is a currency issuer and settlement layer. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics.

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What is a Mempool and how to speed up unconfirmed transactions?

This is a great website to see what miner fee you should use when sending your Bitcoin as it varies from time to time. Link: https://mempool.space/ Join my Telegram group where we talk crypto ... Bitcoin Brief - Japan, Brazil, Marshall Islands & Mempool Saje Essa. Loading... Unsubscribe from Saje Essa? ... BITCOIN $15,000 NEXT TODAY'S PRICE PUMP TARGETS!LIVE Crypto Analysis TA& BTC ... Do you REALLY understand the Bitcoin Mempool? Programmer explains. - Duration: 6:38. Ivan on Tech 12,340 views. 6:38. Gekko Trading Bot - IWannaBeRich Strategy - Duration: 12:26. What is the Mempool of Bitcoin? #Cryptovlog 37 - Duration: 4:17. AndiX 101 views. 4:17. Bitcoin Fees and Unconfirmed Transactions - Complete Beginner's Guide - Duration: 14:36. The Bitcoin mempool is the pool of unconfirmed Bitcoin transactions on the Bitcoin network. Once a Bitcoin transaction happens on Bitcoin’s blockchain, it is not immediately added; instead, it ...

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