BTC Guild - Bitcoin Wiki

Bitcoin Mining Pool BTC Guild to Close Over BitLicense Concerns

Bitcoin Mining Pool BTC Guild to Close Over BitLicense Concerns submitted by hgfernan to Bitcoin [link] [comments]

The Flipside Bitcoin News #5 - BTC Guild Sale, Mining Farm Up In Flames, Ode to Ben Lawsky

The Flipside Bitcoin News #5 - BTC Guild Sale, Mining Farm Up In Flames, Ode to Ben Lawsky submitted by bitpotluck to Bitcoin [link] [comments]

Bitcoin Mining Pool BTC Guild Forced to Sell Due to Uncertain Bitcoin Regulation and Mining Centralization

Bitcoin Mining Pool BTC Guild Forced to Sell Due to Uncertain Bitcoin Regulation and Mining Centralization submitted by voyagerdoge to DogeNews [link] [comments]

Bitcoin Mining Pool BTC Guild to Close Over BitLicense Concerns

Bitcoin Mining Pool BTC Guild to Close Over BitLicense Concerns submitted by BTCNews to BTCNews [link] [comments]

Major Bitcoin mining pool BTC Guild ‘likely being sold’ after shutdown warning

Major Bitcoin mining pool BTC Guild ‘likely being sold’ after shutdown warning submitted by tonewsto to ToNewsTo [link] [comments]

The Flipside Bitcoin News #5 - BTC Guild Sale, Mining Farm Up In Flames, Ode to Ben Lawsky

The Flipside Bitcoin News #5 - BTC Guild Sale, Mining Farm Up In Flames, Ode to Ben Lawsky submitted by bitpotluck to BitcoinTV [link] [comments]

Sad story / Lost wallet

Dear colleagues,

I'm here, as last resource, to try to find a light in the end of the tunnel.

In 2012 I had a wallet at btcguild, and now I have discovered that this site is 4 years.

Is there a way to recover the wallet?
I find out the transaction log proving that I have some money on my account, and is tagged as unspent.

I know, I probably lost everything... but as I told ya, i'm trying to find hints or advices. Any word about this?

submitted by NoggyBR to Bitcoin [link] [comments]

Dear friends: We can't afford for a bitcoin service to become too big to fail. No one will bail us out.

It is becoming obvious that bitcoin as a protocol is incredibly resilient. The biggest problem we face right now are from bitcoin services that will bring down the bitcoin economy if they fail.
I am aware of two current situations where this possibility exists today:
We must act now and over the long term to ensure that we don't inadvertently threaten the future of bitcoin with poor choices.
submitted by secret_bitcoin_login to Bitcoin [link] [comments]

Btcguild shutting down.

After many months of consideration, I have finally made the choice to announce the planned closure of BTC Guild. Below, I've outlined the closure process/timeline and reasons that this decision was made.
Closure Timeframe and Process As identified in the support section and in the 2nd post on this thread, BTC Guild has had an official policy for the amount of time that will be given in the event of closure. The official date that BTC Guild will cease all business is January 31, 2015. This post is the start of the identified 3 months of warning.
1) Effective immediately, registrations are closed to new users. 2) BTC Guild mining servers will remain online until November 30, 2014. 3) Users will have until 11:59 PM (PST) on January 31, 2015 to withdraw any remaining balances on their account.
The above timeline may change if BTC Guild is sold prior to the planned date of closure.
Main Reasons for Closure 1) Risk/cost of a successful attack against the pool. As pooled mining in general is shrinking due to large manufacturers creating private farms, the potential revenue for the pool has gone down as expected. While the pool is still very profitable, the amount of time it would take to recover from an attack has increased due to the overall share of the network shrinking.
BTC Guild has, to date, never been successfully hacked. However, I have seen a rise in attack attempts, and things like Heartbleed/Shellshock which show that efforts are being put into compromising common Linux services if possible. Neither of those attacks had any affect on BTC Guild, but they were both reminders that under BTC Guild's own code, there are many services which could be a doorway into the pool's servers if a vulnerability was discovered.
One successful attack could cost close to a year of pool revenue, maybe more depending on what happens in the mining landscape over that period of time. If something else happened in that time (subsequent attack or regulation forcing closure), it would mean continuing to operate the pool beyond this point has cost me more money than it might potentially make in the rest of its lifetime.
2) US government/regulators are already taking stances against specific business types in Bitcoin, applying requirements which would be impossible for BTC Guild to operate under if they attempt to extend regulation into pooled mining, either directly or indirectly due to unclear definitions. Nobody will mine on a pool which requires them to provide personally identifiable information when they can change a single line in their configuration to point elsewhere.
Additionally, state regulators are starting to make noise about Bitcoin. New York is the first to publicly put anything forward, but there are 49 other states which can put their own spin on things. Due to the ability for states to establish a nexus for businesses dealing with their state's residents, it is a scary landscape to continue operating in.
I have no intention of leaving the US myself, and given the recent history of the US when it comes to online businesses, I don't feel safe simply moving the business legal entity to another country while continuing to live in the US myself.
Aquisition and Users's Privacy/Funds In the event that BTC Guild is acquired prior to closure, users will not have their mining history and withdrawal history transferred to the new owner. All balances up to the date of aquisition will be retained by myself, and a separate service will be made available to claim any funds owed. I am unwilling to compromise on this, because I refuse to do anything where it puts the users of the pool at risk of not receiving what they've earned under my watch.
Pool Recommendations and Advice For users looking for a new home for their miners, I highly recommend BitMinter, Eligius, and p2pool. I do not recommend Slush over any of those 3 options, and I actively encourage users to not use Discus Fish or Other smaller pools exist which are run by honest people, but due to their size, it is difficult to recommend them to the average miner.
Closing Words When I got into Bitcoin back in March of 2011, I never expected anything that we've seen over the last 3 and a half years. I had never built a computer before, never run a server beyond a Gentoo PC in a spare bedroom, and never setup a website that experienced even 0.1% of the traffic BTC Guild gets on an average day.
Bitcoin and BTC Guild have both radically changed my life. While I am closing BTC Guild, I still plan to remain a part of the Bitcoin community. I do believe, even in the face of over-regulation, that Bitcoin will continue to grow and become more useful and usable. I just feel that it is time to move on from BTC Guild, and take pride in the fact that BTC Guild's closure can show that not all Bitcoin businesses end with somebody stealing funds from their users, either by "getting hacked" or outright theft.
submitted by TerreCiel to Bitcoin [link] [comments]

BTC Guild just released 4 blocks nearly on the same time as each other.

BTC Guild just released 4 blocks nearly on the same time as each other. submitted by starfall-invoker to Bitcoin [link] [comments]

In the past, BTCGuild increased their fees to prevent themselves from obtaining 51% hashing power. I suggest they lower their fees again to become competitive with GHash and take back some market share.

Learn how to code
Once the basics of programming are understood, it can be difficult to understand how or why those concepts are applied. We believe the most effective way a beginner can approach learning to code is by breaking the learning process into three broad segments or “phases”.
Learn syntax Solve problems Make stuff
There is currently a complete lack of attention on the second segment. A beginner must go directly from learning syntax to making things without any real understanding of how the syntax is used to solve problems. In other words, the beginner has not yet learned how to think like a programmer, yet they are expected to solve problems like a programmer. Edabit was created to bridge this gap between knowing syntax and actually making stuff with syntax.
In the real world, a developer will typically encounter a problem or challenge they’re not completely sure how to solve. They search for documentation, tutorials or Q&A to overcome the challenge and sometimes ask questions in discussion forums. A pattern repeated over and over again.
Edabit simulates this pattern in a more structured way, while removing the tedious non-educational aspects and adding simple game mechanics. It teaches the beginner to think like a programmer, read documentation and ask appropriate questions. All of which transfer nicely to real world development environments.
This approach will dramatically speed up the beginners journey to becoming an actual developer while at the same time making the process more enjoyable. It's easier, quicker and more fun.
submitted by MeTHoDx to Bitcoin [link] [comments]

BTC Guild edging closer to 51%

Please switch or do not join them:
submitted by _Marco_Polo to Bitcoin [link] [comments]

BTC Guild voluntarily limits their hash rate

BTC Guild voluntarily limits their hash rate submitted by nasato to Bitcoin [link] [comments]

BTC Guild is NOT close to 51% of the hash share, despite previous reports here

I wanted to debunk this, not because I like BTC guild (I use Slush's pool, which thankfully is now back up), but to stop the fear mongering of BTC Guild being large and another threat besides regulation, DDoS attacks, etc. Find the service you like, use them to mine, and be done with it. The whole purpose of BTC is to have more choices and allow more market freedom. If someone chooses to use BTC guild, they probably have a reason to do so, not because tehy were forced into it.
submitted by cconrad0825 to Bitcoin [link] [comments]

Subreddit Stats: btc top posts from 2019-01-06 to 2020-01-05 11:19 PDT

Period: 363.85 days
Submissions Comments
Total 1000 86748
Rate (per day) 2.75 237.19
Unique Redditors 317 7747
Combined Score 194633 356658

Top Submitters' Top Submissions

  1. 31014 points, 162 submissions: Egon_1
    1. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... (515 points, 206 comments)
    2. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. Happy New Year. (502 points, 237 comments)
    3. "It’s official Burger King just accepted Bitcoin Cash and GoC token as a payment option in Slovenia." (423 points, 112 comments)
    4. "HOLY SATOSHI! 😱😱 I did it! A smart card that produces valid BitcoinCash signatures. Who would love to pay with a card—to a phone?? Tap took less than a second!👟..." (368 points, 105 comments)
    5. Chrome 'Has Become Surveillance Software. It's Time to Switch' -> Brave to support BCH! (330 points, 97 comments)
    6. Gavin Andresen (2017): "Running a network near 100% capacity is irresponsible engineering... " (316 points, 117 comments)
    7. "Evidently @github has banned all the Iranian users without an ability for them to download their repositories. A service like Github must be a public good and must not be controlled by a centralized entity. Another great example of why we as a society need to make web3 a reality" (314 points, 117 comments)
    8. Roger Ver: "Bitcoin Cash acceptance is coming to thousands of physical shops in Korea" (313 points, 120 comments)
    9. Paul Sztorc: “Will people really spend $70-$700 to open/modify a lightning channel when there's an Altcoin down the street which will process a (USD-denominated) payment for $0.05 ? Many people seem to think yes but honestly I just don't get it” (306 points, 225 comments)
    10. Food For Thought (303 points, 105 comments)
  2. 29021 points, 157 submissions: MemoryDealers
    1. Bitcoin Cash is Lightning Fast! (No editing needed) (436 points, 616 comments)
    2. Brains..... (423 points, 94 comments)
    3. Meanwhile in Hong Kong (409 points, 77 comments)
    4. Ross Ulbricht has served 6 years in federal prison. (382 points, 156 comments)
    5. Just another day at the Bitcoin Cash accepting super market in Slovenia. (369 points, 183 comments)
    6. Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers. (369 points, 207 comments)
    7. History Reminder: (354 points, 245 comments)
    8. It's more decentralized this way. (341 points, 177 comments)
    9. The new Bitcoin Cash wallet is so fast!!!!! (327 points, 197 comments)
    10. The IRS wants to subpoena Apple and Google to see if you have downloaded crypto currency apps. (324 points, 178 comments)
  3. 6909 points, 37 submissions: BitcoinXio
    1. Tim Pool on Twitter: “How the fuck are people justifying creating a world like the one's depicted in Fahrenheit 451 and 1984? You realize that censorship and banning information was a key aspect of the dystopian nightmare right?” (435 points, 75 comments)
    2. The creator of the now famous HODL meme says that the HODL term has been corrupted and doesn’t mean what he intended; also mentions that the purpose of Bitcoin is to spend it and that BTC has lost its value proposition. (394 points, 172 comments)
    3. Erik Voorhees on Twitter: “I wonder if you realize that if Bitcoin didn’t work well as a payment system in the early days it likely would not have taken off. Many (most?) people found the concept of instant borderless payments captivating and inspiring. “Just hold this stuff” not sufficient.” (302 points, 66 comments)
    4. Bitfinex caught paying a company to astroturf on social media including Reddit, Twitter, Medium and other platforms (285 points, 86 comments)
    5. WARNING: If you try to use the Lightning Network you are at extremely HIGH RISK of losing funds and is not recommended or safe to do at this time or for the foreseeable future (274 points, 168 comments)
    6. Craig Wright seems to have rage quit Twitter (252 points, 172 comments)
    7. No surprise here: Samson Mow among other BTC maxi trolls harassed people to the point of breakdown (with rape threats, etc) (249 points, 85 comments)
    8. On Twitter: “PSA: The Lightning Network is being heavily data mined right now. Opening channels allows anyone to cluster your wallet and associate your keys with your IP address.” (228 points, 102 comments)
    9. btc is being targeted and attacked, yet again (220 points, 172 comments)
    10. Brian Armstrong CEO of Coinbase using Bitcoin Cash (BCH) to pay for food, video in tweet (219 points, 66 comments)
  4. 6023 points, 34 submissions: money78
    1. BSV in a nutshell... (274 points, 60 comments)
    2. There is something going on with @Bitcoin twitter account: 1/ The URL of the white paper has been changed from into! 2/ @Bitcoin has unfollowed all other BCH related accounts. 3/ Most of the posts that refer to "bitcoin cash" have been deleted?!! Is it hacked again?! (269 points, 312 comments)
    3. "Not a huge @rogerkver fan and never really used $BCH. But he wiped up the floor with @ToneVays in Malta, and even if you happen to despise BCH, it’s foolish and shortsighted not to take these criticisms seriously. $BTC is very expensive and very slow." (262 points, 130 comments)
    4. Jonathan Toomim: "At 32 MB, we can handle something like 30% of Venezuela's population using BCH 2x per day. Even if that's all BCH ever achieved, I'd call that a resounding success; that's 9 million people raised out of poverty. Not a bad accomplishment for a hundred thousand internet geeks." (253 points, 170 comments)
    5. Jonathan Toomim: "BCH will not allow block sizes that are large enough to wreak havoc. We do our capacity engineering before lifting the capacity limits. BCH's limit is 32 MB, which the network can handle. BSV does not share this approach, and raises limits before improving actual capacity." (253 points, 255 comments)
    6. What Bitcoin Cash has accomplished so far 💪 (247 points, 55 comments)
    7. Which one is false advertising and misleading people?! or (232 points, 90 comments)
    8. A message from Lightning Labs: "Don't put more money on lightning than you're willing to lose!" (216 points, 118 comments)
    9. Silk Road’s Ross Ulbricht thanks Bitcoin Cash’s [BCH] Roger Ver for campaigning for his release (211 points, 29 comments)
    10. This account just donated more than $6600 worth of BCH via @tipprbot to multiple organizations! (205 points, 62 comments)
  5. 4514 points, 22 submissions: unstoppable-cash
    1. Reminder: bitcoin mods removed top post: "The rich don't need Bitcoin. The poor do" (436 points, 89 comments)
    2. Peter R. Rizun: "LN User walks into a bank, says "I need a loan..." (371 points, 152 comments)
    3. It was SO simple... Satoshi had the answer to prevent full-blocks back in 2010! (307 points, 150 comments)
    4. REMINDER: "Bitcoin isn't for people that live on less than $2/day" -Samson Mow, CSO of BlockStream (267 points, 98 comments)
    5. "F'g insane... waited 5 hrs and still not 1 confirmation. How does anyone use BTC over BCH BitcoinCash?" (258 points, 222 comments)
    6. Irony:"Ave person won't be running LN routing node" But CORE/BTC said big-blocks bad since everyone can't run their own node (256 points, 161 comments)
    7. BitPay: "The Wikimedia Foundation had been accepting Bitcoin for several years but recently switched pmt processors to BitPay so they can now accept Bitcoin Cash" (249 points, 61 comments)
    8. FreeTrader: "Decentralization is dependent on widespread usage..." (195 points, 57 comments)
    9. The FLIPPENING: Fiat->OPEN Peer-to-Peer Electronic Cash! Naomi Brockwell earning more via BitBacker than Patreon! (193 points, 12 comments)
    10. LN Commentary from a guy that knows a thing or 2 about Bitcoin (Gavin Andresen-LEAD developer after Satoshi left in 2010) (182 points, 80 comments)
  6. 3075 points, 13 submissions: BeijingBitcoins
    1. Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo! (410 points, 166 comments)
    2. used to accept Bitcoin payments but, like many other businesses, disabled the option. After some DMs with an admin there, I'm pleased to announce that they now accept Bitcoin Cash! (354 points, 62 comments)
    3. WSJ: Bitfinex Used Tether Reserves to Mask Missing $850 Million, Probe Finds (348 points, 191 comments)
    4. Bitcoiners: Then and Now [MEME CONTEST - details in comments] (323 points, 72 comments)
    5. I'd post this to /Bitcoin but they would just remove it right away (also I'm banned) (320 points, 124 comments)
    6. So this is happening at the big protest in Hong Kong right now (270 points, 45 comments)
    7. /Bitcoin mods are censoring posts that explain why BitPay has to charge an additional fee when accepting BTC payments (219 points, 110 comments)
    8. The guy who won this week's MillionaireMakers drawing has received ~$55 in BCH and ~$30 in BTC. It will cost him less than $0.01 to move the BCH, but $6.16 (20%) in fees to move the BTC. (164 points, 100 comments)
    9. The Bitcoin whitepaper was published 11 years ago today. Check out this comic version of the whitepaper, one of the best "ELI5" explanations out there. (153 points, 12 comments)
    10. Two Years™ is the new 18 Months™ (142 points, 113 comments)
  7. 2899 points, 18 submissions: jessquit
    1. Oh, the horror! (271 points, 99 comments)
    2. A few days ago I caught flak for reposting a set of graphs that didn't have their x-axes correctly labeled or scaled. tvand13 made an updated graph with correct labeling and scaling. I am reposting it as I promised. I invite the viewer to draw their own conclusions. (214 points, 195 comments)
    3. Do you think Bitcoin needs to increase the block size? You're in luck! It already did: Bitcoin BCH. Avoid the upcoming controversial BTC block size debate by trading your broken Bitcoin BTC for upgraded Bitcoin BCH now. (209 points, 194 comments)
    4. Master list of evidence regarding Bitcoin's hijacking and takeover by Blockstream (185 points, 113 comments)
    5. PSA: BTC not working so great? Bitcoin upgraded in 2017. The upgraded Bitcoin is called BCH. There's still time to upgrade! (185 points, 192 comments)
    6. Nobody uses Bitcoin Cash (182 points, 88 comments)
    7. Double-spend proofs, SPV fraud proofs, and Cashfusion improvements all on the same day! 🏅 BCH PLS! 🏅 (165 points, 36 comments)
    8. [repost] a reminder on how btc and Bitcoin Cash came to be (150 points, 102 comments)
    9. Holy shit the entire "negative with gold" sub has become a shrine devoted to the guilded astroturfing going on in rbtc (144 points, 194 comments)
    10. This sub is the only sub in all of Reddit that allows truly uncensored discussion of BTC. If it turns out that most of that uncensored discussion is negative, DON'T BLAME US. (143 points, 205 comments)
  8. 2839 points, 13 submissions: SwedishSalsa
    1. With Bitcoin, for the first time in modern history, we have a way to opt out. (356 points, 100 comments)
    2. In this age of rampant censorship and control, this is why I love Bitcoin. (347 points, 126 comments)
    3. The crypto expert (303 points, 29 comments)
    4. Satoshi reply to Mike Hearn, April 2009. Everybody, especially newcomers and r-bitcoin-readers should take a step back and read this. (284 points, 219 comments)
    5. Bitcoin Cash looking good lately. (235 points, 33 comments)
    6. Roger Ver bad (230 points, 61 comments)
    7. History of the BTC scaling debate (186 points, 54 comments)
    8. MFW i read Luke Jr wants to limit BTC blocks to 300k. (183 points, 116 comments)
    9. Meanwhile over at bitcoinsv... (163 points, 139 comments)
    10. Listen people... (155 points, 16 comments)
  9. 2204 points, 10 submissions: increaseblocks
    1. China bans Bitcoin again, and again, and again (426 points, 56 comments)
    2. China bans Bitcoin (again) (292 points, 35 comments)
    3. Bitcoin Cash Network has now been upgraded! (238 points, 67 comments)
    4. So you want small blocks with high fees to validate your own on chain transactions that happen OFF CHAIN? (212 points, 112 comments)
    5. It’s happening - BTC dev Luke jr writing code to Bitcoin BTC codebase to fork to lower the block size to 300kb! (204 points, 127 comments)
    6. Former BTC maximalist admits that maxi's lied cheated and stealed to get SegWit and Lightning (201 points, 135 comments)
    7. Just 18 more months to go! (172 points, 86 comments)
    8. Bitcoin Cash ring - F*CK BANKS (167 points, 51 comments)
    9. LTC Foundation chat leaked: no evidence of development, lack of transparency (155 points, 83 comments)
    10. A single person controls nearly half of all the Lightning Network’s capacity (137 points, 109 comments)
  10. 2138 points, 12 submissions: JonyRotten
    1. 'Craig Is a Liar' – Early Adopter Proves Ownership of Bitcoin Address Claimed by Craig Wright (309 points, 165 comments)
    2. 200,000 People Have Signed Ross Ulbricht's Clemency Petition (236 points, 102 comments)
    3. Street Artist Hides $1,000 in BTC Inside a Mural Depicting Paris Protests (236 points, 56 comments)
    4. Craig Wright Ordered to Produce a List of Early Bitcoin Addresses in Kleiman Lawsuit (189 points, 66 comments)
    5. Ross Ulbricht Clemency Petition Gathers 250,000 Signatures (163 points, 24 comments)
    6. Ross Ulbricht Letter Questions the Wisdom of Imprisoning Non-Violent Offenders (160 points, 50 comments)
    7. Expert Witness in Satoshi Case Claims Dr Wright's Documents Were Doctored (155 points, 44 comments)
    8. California City Official Uses Bitcoin Cash to Purchase Cannabis (151 points, 36 comments)
    9. Money Transmitter License Not Required for Crypto Businesses in Pennsylvania (141 points, 9 comments)
    10. McAfee to Launch Decentralized Token Exchange With No Restrictions (137 points, 35 comments)

Top Commenters

  1. jessquit (16708 points, 2083 comments)
  2. Ant-n (7878 points, 1517 comments)
  3. MemoryDealers (7366 points, 360 comments)
  4. Egon_1 (6205 points, 1001 comments)
  5. 500239 (5745 points, 735 comments)
  6. BitcoinXio (4640 points, 311 comments)
  7. LovelyDay (4353 points, 457 comments)
  8. chainxor (4293 points, 505 comments)
  9. MobTwo (3420 points, 174 comments)
  10. ShadowOfHarbringer (3388 points, 478 comments)

Top Submissions

  1. The perfect crypto t-shirt by Korben (742 points, 68 comments)
  2. The future of Libra Coin by themadscientistt (722 points, 87 comments)
  3. when you become a crypto trader... by forberniesnow (675 points, 54 comments)
  4. A Reminder Why You Shouldn’t Use Google. by InMyDayTVwasBooks (637 points, 209 comments)
  5. Imagine if in 2000 Apple just sat around all day shit-talking Microsoft. Apple would have never gone anywhere. Apple succeeded because they learned from their mistakes, improved, and got better. BCH should do the same. by guyfawkesfp (552 points, 255 comments)
  6. Bitcoin made The Simpsons intro! Sorry for the potato quality by Johans_wilgat (521 points, 44 comments)
  7. Vitalik Buterin to Core Maxi: “ok bitcoiner” .... by Egon_1 (515 points, 206 comments)
  8. Can't stop won't stop by Greentoboggan (514 points, 78 comments)
  9. These men are serving life without parole in max security prison for nonviolent drug offenses. They helped me through a difficult time in a very dark place. I hope 2019 was their last year locked away from their loved ones. Happy New Year. by Egon_1 (502 points, 237 comments)
  10. Blockchain? by unesgt (479 points, 103 comments)

Top Comments

  1. 211 points: fireduck's comment in John Mcafee on the run from IRS Tax Evasion charges, running 2020 Presidential Campaign from Venezuela in Exile
  2. 203 points: WalterRothbard's comment in I am a Bitcoin supporter and developer, and I'm starting to think that Bitcoin Cash could be better, but I have some concerns, is anyone willing to discuss them?
  3. 179 points: Chris_Pacia's comment in The BSV chain has just experienced a 6-block reorg
  4. 163 points: YourBodyIsBCHn's comment in I made this account specifically to tip in nsfw/gonewild subreddits
  5. 161 points: BeijingBitcoins's comment in Last night's BCH & BTC meetups in Tokyo were both at the same restaurant (Two Dogs). We joined forces for this group photo!
  6. 156 points: hawks5999's comment in You can’t make this stuff up. This is how BTC supporters actually think. From bitcoin: “What you can do to make BTC better: check twice if you really need to use it!” 🤦🏻‍♂️
  7. 155 points: lowstrife's comment in Steve Wozniak Sold His Bitcoin at Its Peak $20,000 Valuation
  8. 151 points: kdawgud's comment in The government is taking away basic freedoms we each deserve
  9. 147 points: m4ktub1st's comment in BCH suffered a 51% attack by colluding miners to re-org the chain in order to reverse transactions - why is nobody talking about this? Dangerous precident
  10. 147 points: todu's comment in Why I'm not a fan of the SV community: My recent bill for defending their frivolous lawsuit against open source software developers.
Generated with BBoe's Subreddit Stats
submitted by subreddit_stats to subreddit_stats [link] [comments]

KNC miners hit the system...OUCH!

The home miner is soon going to be defunct isn't it? I am leasing with leasebit. I also hear HashSmasher will have 1.5THah/s machines soon?
submitted by MichaelCampillo to BitcoinMining [link] [comments]

I'm happy I found you Bitcoin. I am now using it to donate to charity for free.

A user as asked me if how to contribute to working towards my 1BTC goal. While I believe this is a great idea as many people can use the same worker, and anyone can tribute even the smallest to make a bigger difference, I had not planned to open by BTC Guild worker publicly. And you may say I could just take the bitcoins for myself, etc. I don't have any proof to show you so if you like to help with reaching my 1 BTC, you are doing so at your own risk. I just want to make it clear since this is NOT my focus and I will explain below how you can do just exactly what I'm doing without ever having me involved. So here is my attempt at helping you set it up.
If you are new to bitcoin, usually you create a Wallet. This is simply where you store your bitcoins. However, we do not need a wallet since all the bitcoins you earn will be diverted directly to the charity site, which makes setting up so much easier.
  1. Download and Run bitcoin miner. I use GUIMiner the most popular and this is simple the software that will do the actual mining and essentially all you need. Here is the official link
  2. Select BTC GUILD (any) as your server and Username: BTCharity_1. (Password is anything you set)
  3. Hit Start Mining and that's it, let it run it the background as you collect. You will see it working when you see a hash rate showing with shares numbers slowly rising.
Note: If you would like to earn bitcoins to donate for yourself seperately, you need to first create a new account on BTC guild. Then create a worker with your account to replace mine. Next thing you need to do is get a address from the donation site!donate-bitcoin/coo5 Copy that address in your Settings>Bitcoin Wallet address and set an automatic payout (lowest is 0.01). Now you are all set, when you've collected enough bitcoins on your own, and once it reaches your payout threshlevel, it will automatically send the bitcoins to the charity.
Hope this helps.
Dear reddit,
I have never heard of bitcoins until recently like many other individuals, I took a interest after the big BTC value rise and I saw it on reddit. I have been reading everything about bitcoins for the last few days. What really inspired me what how progressive it has become and how much more wildly common it is to use. I have never tried to mine for actual bitcoins until this reddit post got to me.
Charity organizations are beginning to accept bitcoins! This one was particularly relevant to me since two of my loved family members are diagnosed with cancer, my aunt and my uncle from dad's side, they are pro cannabis also.
So basically as of now, I'm using my desktop to "mine" bitcones, I average about 200Mh/s. This is not much at all and you should not expect to make any real money. However I have set up a way to mine bitcoins with a pool, on my computer which is usually on all the time and added a donation link key from the Cancer Reasarch site above to the BTC guild account and have it set to automatic payout when it reaches 1 bitcoin.
I have never donated before in my life even though I have always wanted to, but I am just poor and have no money, I find this a heartwarming way to now I'm contributing to something.
I find this an amazing way to both contribute to the bitcoin cause and to fight cancer, to donate to charity essentially for free if you don't have the money to spare. I encourage you to do the same.
If you have any questions about doing something similar I will try to help! You can essentially set this up in less than 5 minutes and start contributing even if you don't know much about bitcoins yet. You can learn as you go.
submitted by excelme to Bitcoin [link] [comments]

Playing devil's advocate- "Why Bitcoin will crash to $0", by a Bitcoin supporter.

OK, let me start by saying that I think the general idea of a cryptographic currency is a brilliant one. I can definitely see Bitcoin establishing itself as a major world currency, and basically doing to fiat currencies what email did to the postal system.
However, whenever I mention Bitcoin to anyone, I strongly encourage them not to invest more than they are prepared to lose. I myself only own 10 BTC. Why? Because Bitcoin has flaws, and it has potential enemies, and I think there's a very good chance that the currency could be basically destroyed overnight.
  1. The code. Bitcoin is not a magic black box. It's a complicated piece of open-source software, written by a community of volunteers and hobbyists with various degrees of ability. IT CONTAINS BUGS. What these bugs are and how serious their symptoms will be remains to be seen, but we have already had a few serious problems (such as the 0.7/0.8 fork) and it's likely there will be more to come.
  2. The value of exploits. With the soaring value of Bitcoins, it is likely that it will increasingly become a target for attack. If someone can find and exploit a flaw, they can make a fortune. Due to the nature of Bitcoin, it would be almost impossible to discover the culprit or recover any losses. This was already happening when there was almost nothing to gain from it!
  3. Government intervention. Currency manipulation is one of the core economic controls of government. Mass adoption of Bitcoin would render this tool ineffective, or even unusable. It's certainly conceivable that the US or EU could implement a blanket ban on Bitcoin trades, which would utterly cripple the currency's expansion. As we're now hitting the point where large-scale funds are buying into Bitcoin, such a move would cause a rapid exodus of significant funds, by a few small high-worth individuals over a very short timescale. This, combined with the effect of legislation, would almost inevitably trigger a large-scale panic sell-off, and there would be no market remaining to allow for the currency's revival.
  4. Corporate sabotage. Moneygram, Western Union, Paypal. Just three examples of multi-billion dollar multinationals with business models which would be rendered obsolete should Bitcoin achieve widespread adoption. Bitcoin, despite its rapid expansion and long-term potential, is tiny compared to many large organisations which have a vested interest in seeing the currency fail. At its current size, the Bitcoin economy could be toppled for a handful of million dollars- enough to buy and sell large volumes specifically to cause huge price swings, to undermine confidence with smear campaigns, or to directly attack flaws in the software or the network that underpins it.
  5. Fundamental flaws. The design of Bitcoin is not perfect. We're already seeing the blockchain becoming bloated by the micro-transactions of SatoshiDice. What if the volume of these were to rise a thousandfold, through deliberate flooding or simply through the natural expansion of the currency? We're already worried about mining guilds which have control of too much computing power. 51% is quoted as the minimum level required in order to subvert the Bitcoin transaction system successfully. This is not strictly true- 51% is simply the point at which an attack becomes more likely to succeed than to fail. It's perfectly possible that an entity with a significant non-majority of mining power could succeed in poisoning the blockchain with dishonest blocks. This can be attempted over and over again by a motivated group or individual, and it only needs to succeed once to cause irreparable damage to Bitcoin's credibility.
With the current public interest in the currency, the media spotlight focused on it, and the fledgling involvement of high-value investors likely to abandon Bitcoin forcefully if they foresee any potential losses, I believe that Bitcoin is extremely vulnerable at present. Any one of the problems listed could trigger a panic which would crash the currency overnight, and in a way that it wouldn't likely recover from.
So, whilst I'm not concerned about the effects of speculative bubbles, and I do believe Bitcoin is destined for long-term success, I urge caution. Please, don't invest more than you can afford to lose.
submitted by rcpinchey to Bitcoin [link] [comments]

does it not bother anyone

that simple 2 party collusion would compromise the whole chain
submitted by TheJohnVandivier to Bitcoin [link] [comments]

Why the price is plummeting....its very simple: Currently BTC guild can destroy the blockchain.

The reason why the price has plummeted is not DDOS or exchange instability its the fact that bitcoin is currently not technically safe, the day of the crash BTC guild announced they were voluntarily limiting their mining speed to less than 50%. They have their own ASIC miners that are faster than EVERYONE else. They can theoretically do whatever they want to the block chain. They are currently limiting themselves voluntarily in order to preserve the integrity of the block chain!!!!
submitted by bitcoinexplained1 to Bitcoin [link] [comments]

How YOU can stop a 51% attack.

Mining at this point is no longer about profit. It's about ideology. You mine BTC to support a system in which you believe, the revenue serves the purpose of keeping it affordable to you. For the pool operators, the situation is different. For them, mining IS about profit. If BTC Guild has 25% of the Hashrate, it means their pool discovers 25% of the block per day or 1800 BTC, their 3% fee, (excl transaction fees), means 54 Bitcoin/43,200 dollar daily, far exceeding the cost of hosting a pool.
For this reason it is important that Bitcoin miners know about ALL options available to them to secure the network. Please understand the following simple fact: You do not depend on the pool operators. As I will go on to show, the pool operators depend on you.
You are already aware of your ability to switch to a different pool. You can move to Eligius or other pools which have 0% fees, thus earning you more money. If you want to help the network, mine on a pool that has a low hash rate, abandon the largest pools.
However, there's another option available to you that you have to be aware of. Pools can become malicious. As an example, GHash.IO is believed to have committed double-spending attacks against Betcoin dice, which accepts zero confirmation bets. Theoretically, GHash.IO could use the money from attacks committed against the network to subsidize miners who mine on their pool, thus leading to them eventually getting 51% of the network.
If you believe a pool is a threat to the Bitcoin network, you have the ability to engage in a block withholding attack. There's nothing a pool operator can do about this, which is why they don't want you to know about it. Block withholding attacks are an essential weapon of last resort we have against malicious pools.
It works as following. When you find a valid hash, you normally give the hash to the pool, just like any other hash. The pool takes the reward and distributes the profits equally to everyone in the pool based on the amount of attempts they contributed. You're not able to use the hash for yourself, the reward goes to an address controlled by the pool operator.
However, the pool operator doesn't know if you found a valid hash until you hand it over to him! If you choose to withhold the hash, it doesn't cost you anything, the one who suffers financially is the pool operator, who pays you for your valid shares. If enough people do this, eventually the pool operator figures out that people are probably screwing him over. However, he doesn't know who!
There are roughly three ways the pool operator can respond to this. He can try to figure out who is screwing him over. If the problem began recently, he might try to kick people who joined recently. However, he will also inevitably kick people who are mining honestly. Thus, his share of the network drops. Alternatively, he can increase his fee. When he increases his fee, people will get angry and leave his pool, meaning his share of the network still drops.
The third response is to test miners, by sending them work that has already been solved whenever the pool mines a block. If any of the miners decide to withhold the solution, the pool operator knows they're screwing him over. However, miners can check the blockchain, thus allowing them to send the work they did if the block has already been successfully solved. The only response the pool operator has to such smart miners is to wait with publishing his block. This however increases his risk of having his block orphaned, which will end up costing him money as well. Thus pool operators who can't trust their miners will always lose money, one way or another.
When should you use the block withholding attack?
When to use the block withholding attack is ultimately your decision. However, there are some things you need to keep in mind. The block withholding attack takes some time before people discover it, as the pool operator will at first attribute his lack of blocks to a statistical fluctuation.
Thus, if you move to a pool that's 45% of the network and growing rapidly, my guess would be that you're too late. Previous episodes have shown that we depended on ASICMiner, BTCGuild and GHash.IO to play nice with us and not start a 51% attack. My personal opinion would be that any malicious pool with more than 30% of the network is dangerous enough to justify a block withholding attack against them.
Just the threat of a block withholding attack may be enough to save Bitcoin
Why am I telling you this? As miners, your knowledge of your power to execute a block withholding attack is a danger to the pool operators, because it emancipates you. When most miners know how to commit a block withholding attack, the pools will have to prove to you that they deserve your trust!
Thus, pools will have to make concessions to you. As an example, pools will have to promise not to go over 30% of the network. Alternatively, pool operators will have to reveal their identity to you. Pool operators right now are greedy, happily taking 40% or more of the network, as it raises their revenue. They will have to stop being greedy when miners learn that they can punish greedy pool operators. The ongoing threat of a 51% attack is also reducing the market cap of Bitcoin. When mining decentralizes again the value of Bitcoin will go up.
How do you commit a block withholding attack?
This is the embarrassing part of my post. I'd really like to provide an answer here, but I can't. I am not aware of any mining client that has an option to carry out the block withholding attack. The block withholding attack for now remains a theoretical construct, akin to a Cobalt bomb, a theoretical weapon of mass destruction that nobody has bothered building.
The first guy who builds an open source mining client capable of carrying out a block withholding attack will make large pool operators shit bricks. I'm sure some people would be willing to pay a coder who produces a client capable of a block withholding attack as well. Until that time, the block withholding attack remains the stuff of game theory and nerd-mythology.
submitted by accountt1234 to Bitcoin [link] [comments]

Please stop mining at BTC Guild.

31% is still a very large portion of the hash rate. Bitcoin's strength is in it's decentralization and there are many decent pools to run on. I personally recommend bitminter (custom client, VERY easy to use) or p2pool.
I would even stay away from 50BTC as it also holds more than 15% of the hash rate. Preferably, pools should not be larger than 15% at this point in time and in the future p2pool should be the defacto (there seems to be more downtime than it should but with a backup pool it should be fine).
Currently pools and exchanges are bitcoin's biggest weakness, we should not exacerbation the problem.
submitted by Coz131 to BitcoinMining [link] [comments]

EARN CASH DAILY PROFITS  BEST BITCOIN MINING STRATEGY ... Bitcoin Cloud Mining Software - Generate btc from home (Ultimate Guide) bitcoin mining software blockchain BTC miner 2020 free ... How To Withdraw Bitcoins From Mining City - YouTube Best Bitcoin Miner Machine Free download ️ Best BTC Miners ...

Der Mining Pool von BTC Guild schließt seine Tore zum 30 Juni. Es ist das zweite mal das eine Schließung bekannt gegeben wird. Nur dieses mal wird es nicht zurückgenommen. Der Mining Pool hat immer mehr an Größe verloren und lag nur noch unter 3% von Netzwerk. Die Kosten sind aber gleich geblieben. Zusätzlich hat BTC Guild keine Lust ... BTC Guild is set to close at the end of June, months after previously announcing that it would shut down its long-running bitcoin mining pool. Der momentan größte Bitcoin-Mining-Pool BTC Guild wurde nach eigenen Angaben angegriffen und war mehrere Stunden nicht erreichbar. Der Denial-of-Service-Angriff hatte zur Folge, dass die ... BTC Guild is a mining pool which offers proportional based rewards, where your reward is equal to the block value, multiplied by your valid shares submitted during the round.The pool does not take a fee from each block solved, and calculates rewards to the full 8 decimal points supported by the Bitcoin protocol. BTC Guild is a mining pool which offers proportional based rewards, where your reward is equal to the block value, multiplied by your valid shares submitted during the round.The pool does not take a fee from each block solved, and calculates rewards to the full 8 decimal points supported by the Bitcoin protocol.

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