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Board Bitcoin Discussion
This Week in Crypto
by
ChanTechSolution
on 04/02/2023, 09:19:10 UTC
Welcome to the second month of 2023. While January flew by in the blink of an eye, the crypto market has been full of buzz and news. In this episode of This Week in Crypto, we look at some of the most important industry news that should be noticed by the eyes and the minds of our readers.
Key Points
Fed approves 0.25% hike
BTC uptrend most likely to fall
Ebay goes NFT
NEO breaks records
Federal Reserve Approves 0.25% Interest Hike
The news many crypto investors have been waiting for is in: the US Federal Reserve (Fed) has approved an interest rate hike of 0.25%, continuing its trend of a softer interest rate increase. This has signaled to the macro market that the US government is beginning to win its war against inflation and improving the national financial situation. This has resulted in investors’ increased willingness to invest in higher volatility assets, such as cryptocurrency. As a result, the price of BTC recorded a moderate spike of 3%.
Will BTC Continue Its Uptrend? Analysts say “Not Likely”
While the price of Bitcoin (BTC) did record positive volatility overall during the past week, analysts are not optimistic about BTC continuing its uptrend. According to data, while the price of BTC increased slightly, the RSI factor decreased by around 15%. This type of divergence usually indicates that the price of the asset will most likely decrease than not.
Will Ebay launch an NFT Marketplace?
Ebay has made headlines within the crypto space with its LinkedIn posts. According to the official posts from the online marketplace giant, it is looking for a few key talents related to “KnownOrigin” — its NFT marketplace. Hence, it can be assumed that Ebay will indeed build and launch its own NFT marketplace. One key aspect in this development can be highlighted in one of the vacancies Ebay is looking to fill: Web3 attorney. It appears that Ebay’s main concern within an NFT marketplace is the trading of IP rights and licensing rights. This is indeed an exciting time for NFTs.
NEO Breaks Records
MatchX NEO has launched in celebration of eager supporters and miners around the world. Following its successful launch, NEO has been mentioned by mainstream media such as Bitcoinist and Blockonomi who have praised NEO for its innovation and user-friendliness. While the pre-order phase of NEO is expected to close within just a few hours since the writing of this, those who have pre-ordered NEO can look forward to learning more about the mining algorithm and other innovative benefits in the next coming weeks.
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Topic
Board Bitcoin Discussion
Re: Bitcoin Core 24.0.1 Released
by
ChanTechSolution
on 04/02/2023, 09:08:15 UTC
24.0.1 Release Notes

Due to last-minute issues (#26616), 24.0, although tagged, was never fully
announced or released.

Bitcoin Core version 24.0.1 is now available from:

https://bitcoincore.org/bin/bitcoin-core-24.0.1/

This release includes new features, various bug fixes and performance
improvements, as well as updated translations.

Please report bugs using the issue tracker at GitHub:

https://github.com/bitcoin/bitcoin/issues

To receive security and update notifications, please subscribe to:

https://bitcoincore.org/en/list/announcements/join/

How to Upgrade

If you are running an older version, shut it down. Wait until it has completely
shut down (which might take a few minutes in some cases), then run the
installer (on Windows) or just copy over /Applications/Bitcoin-Qt (on macOS)
or bitcoind/bitcoin-qt (on Linux).

Upgrading directly from a version of Bitcoin Core that has reached its EOL is
possible, but it might take some time if the data directory needs to be migrated. Old
wallet versions of Bitcoin Core are generally supported.

Compatibility

Bitcoin Core is supported and extensively tested on operating systems
using the Linux kernel, macOS 10.15+, and Windows 7 and newer.  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.

Notice of new option for transaction replacement policies

This version of Bitcoin Core adds a new mempoolfullrbf configuration
option which allows users to change the policy their individual node
will use for relaying and mining unconfirmed transactions.  The option
defaults to the same policy that was used in previous releases and no
changes to node policy will occur if everyone uses the default.

Some Bitcoin services today expect that the first version of an
unconfirmed transaction that they see will be the version of the
transaction that ultimately gets confirmed---a transaction acceptance
policy sometimes called "first-seen".

The Bitcoin Protocol does not, and cannot, provide any assurance that
the first version of an unconfirmed transaction seen by a particular
node will be the version that gets confirmed.  If there are multiple
versions of the same unconfirmed transaction available, only the miner
who includes one of those transactions in a block gets to decide which
version of the transaction gets confirmed.

Despite this lack of assurance, multiple merchants and services today
still make this assumption.

There are several benefits to users from removing this first-seen
simplification.  One key benefit, the ability for the sender of a
transaction to replace it with an alternative version paying higher
fees, was realized in Bitcoin Core 0.12.0 (February 2016) with the
introduction of BIP125 opt-in Replace By Fee (RBF).

Since then, there has been discussion about completely removing the
first-seen simplification and allowing users to replace any of their
older unconfirmed transactions with newer transactions, a feature called
full-RBF.  This release includes a mempoolfullrbf configuration
option that allows enabling full-RBF, although it defaults to off
(allowing only opt-in RBF).

Several alternative node implementations have already enabled full-RBF by
default for years, and several contributors to Bitcoin Core are
advocating for enabling full-RBF by default in a future version of
Bitcoin Core.

As more nodes that participate in relay and mining begin enabling
full-RBF, replacement of unconfirmed transactions by ones offering higher
fees may rapidly become more reliable.

Contributors to this project strongly recommend that merchants and services
not accept unconfirmed transactions as final, and if they insist on doing so,
to take the appropriate steps to ensure they have some recourse or plan for
when their assumptions do not hold.

Notable changes

P2P and network changes
  • To address a potential denial-of-service, the logic to download headers from peers
    has been reworked.  This is particularly relevant for nodes starting up for the
    first time (or for nodes which are starting up after being offline for a long time).

    Whenever headers are received from a peer that have a total chainwork that is either
    less than the node's -minimumchainwork value or is sufficiently below the work at
    the node's tip, a "presync" phase will begin, in which the node will download the
    peer's headers and verify the cumulative work on the peer's chain, prior to storing
    those headers permanently. Once that cumulative work is verified to be sufficiently high,
    the headers will be redownloaded from that peer and fully validated and stored.

    This may result in initial headers sync taking longer for new nodes starting up for
    the first time, both because the headers will be downloaded twice, and because the effect
    of a peer disconnecting during the presync phase (or while the node's best headers chain has less
    than -minimumchainwork), will result in the node needing to use the headers presync mechanism
    with the next peer as well (downloading the headers twice, again). (#25717)
  • With I2P connections, a new, transient address is used for each outbound
    connection if -i2pacceptincoming=0. (#25355)

Updated RPCs
  • The -deprecatedrpc=softforks configuration option has been removed.  The
    RPC getblockchaininfo no longer returns the softforks field, which was
    previously deprecated in 23.0. (#23508) Information on soft fork status is
    now only available via the getdeploymentinfo RPC.
  • The deprecatedrpc=exclude_coinbase configuration option has been removed.
    The receivedby RPCs (listreceivedbyaddress, listreceivedbylabel,
    getreceivedbyaddress and getreceivedbylabel) now always return results
    accounting for received coins from coinbase outputs, without an option to
    change that behaviour. Excluding coinbases was previously deprecated in 23.0.
    (#25171)
  • The deprecatedrpc=fees configuration option has been removed. The top-level
    fee fields fee, modifiedfee, ancestorfees and descendantfees are no
    longer returned by RPCs getmempoolentry, getrawmempool(verbose=true),
    getmempoolancestors(verbose=true) and getmempooldescendants(verbose=true).
    The same fee fields can be accessed through the fees object in the result.
    The top-level fee fields were previously deprecated in 23.0. (#25204)
  • The getpeerinfo RPC has been updated with a new presynced_headers field,
    indicating the progress on the presync phase mentioned in the
    "P2P and network changes" section above.

Changes to wallet related RPCs can be found in the Wallet section below.

New RPCs
  • The sendall RPC spends specific UTXOs to one or more recipients
    without creating change. By default, the sendall RPC will spend
    every UTXO in the wallet. sendall is useful to empty wallets or to
    create a changeless payment from select UTXOs. When creating a payment
    from a specific amount for which the recipient incurs the transaction
    fee, continue to use the subtractfeefromamount option via the
    send, sendtoaddress, or sendmany RPCs. (#24118)
  • A new gettxspendingprevout RPC has been added, which scans the mempool to find
    transactions spending any of the given outpoints. (#24408)
  • The simulaterawtransaction RPC iterates over the inputs and outputs of the given
    transactions, and tallies up the balance change for the given wallet. This can be
    useful e.g. when verifying that a coin join like transaction doesn't contain unexpected
    inputs that the wallet will then sign for unintentionally. (#22751)

Updated REST APIs
  • The /headers/ and /blockfilterheaders/ endpoints have been updated to use
    a query parameter instead of path parameter to specify the result count. The
    count parameter is now optional, and defaults to 5 for both endpoints. The old
    endpoints are still functional, and have no documented behaviour change.

    For /headers, use
    GET /rest/headers/<BLOCK-HASH>.<bin|hex|json>?count=<COUNT=5>
    instead of
    GET /rest/headers/<COUNT>/<BLOCK-HASH>.<bin|hex|json> (deprecated)

    For /blockfilterheaders/, use
    GET /rest/blockfilterheaders/<FILTERTYPE>/<BLOCK-HASH>.<bin|hex|json>?count=<COUNT=5>
    instead of
    GET /rest/blockfilterheaders/<FILTERTYPE>/<COUNT>/<BLOCK-HASH>.<bin|hex|json> (deprecated)

    (#24098)

Build System
  • Guix builds are now reproducible across architectures (x86_64 &amp; aarch64). (#21194)

New settings
  • A new mempoolfullrbf option has been added, which enables the mempool to
    accept transaction replacement without enforcing BIP125 replaceability
    signaling. (#25353)

Wallet
  • The -walletrbf startup option will now default to true. The
    wallet will now default to opt-in RBF on transactions that it creates. (#25610)
  • The replaceable option for the createrawtransaction and
    createpsbt RPCs will now default to true. Transactions created
    with these RPCs will default to having opt-in RBF enabled. (#25610)
  • The wsh() output descriptor was extended with Miniscript support. You can import Miniscript
    descriptors for P2WSH in a watchonly wallet to track coins, but you can't spend from them using
    the Bitcoin Core wallet yet.
    You can find more about Miniscript on the reference website. (#24148)
  • The tr() output descriptor now supports multisig scripts through the multi_a() and
    sortedmulti_a() functions. (#24043)
  • To help prevent fingerprinting transactions created by the Bitcoin Core wallet, change output
    amounts are now randomized. (#24494)
  • The listtransactions, gettransaction, and listsinceblock
    RPC methods now include a wtxid field (hash of serialized transaction,
    including witness data) for each transaction. (#24198)
  • The listsinceblock, listtransactions and gettransaction output now contain a new
    parent_descs field for every "receive" entry. (#25504)
  • A new optional include_change parameter was added to the listsinceblock command.
  • RPC getreceivedbylabel now returns an error, "Label not found
    in wallet" (-4), if the label is not in the address book. (#25122)

Migrating Legacy Wallets to Descriptor Wallets

An experimental RPC migratewallet has been added to migrate Legacy (non-descriptor) wallets to
Descriptor wallets. More information about the migration process is available in the
documentation.

GUI changes
  • A new menu item to restore a wallet from a backup file has been added (gui#471).
  • Configuration changes made in the bitcoin GUI (such as the pruning setting,
    proxy settings, UPNP preferences) are now saved to <datadir>/settings.json
    file rather than to the Qt settings backend (windows registry or unix desktop
    config files), so these settings will now apply to bitcoind, instead of being
    ignored. (#15936, gui#602)
  • Also, the interaction between GUI settings and bitcoin.conf settings is
    simplified. Settings from bitcoin.conf are now displayed normally in the GUI
    settings dialog, instead of in a separate warning message ("Options set in this
    dialog are overridden by the configuration file: -setting=value"). And these
    settings can now be edited because settings.json values take precedence over
    bitcoin.conf values. (#15936)

Low-level changes

RPC
  • The deriveaddresses, getdescriptorinfo, importdescriptors and scantxoutset commands now
    accept Miniscript expression within a wsh() descriptor. (#24148)
  • The getaddressinfo, decodescript, listdescriptors and listunspent commands may now output
    a Miniscript descriptor inside a wsh() where a wsh(raw()) descriptor was previously returned. (#24148)

Credits

Thanks to everyone who directly contributed to this release:
  • /dev/fd0
  • 0xb10c
  • Adam Jonas
  • akankshakashyap
  • Ali Sherief
  • amadeuszpawlik
  • Andreas Kouloumos
  • Andrew Chow
  • Anthony Towns
  • Antoine Poinsot
  • Antoine Riard
  • Aurèle Oulès
  • avirgovi
  • Ayush Sharma
  • Baas
  • Ben Woosley
  • BrokenProgrammer
  • brunoerg
  • brydinh
  • Bushstar
  • Calvin Kim
  • CAnon
  • Carl Dong
  • chinggg
  • Cory Fields
  • Daniel Kraft
  • Daniela Brozzoni
  • darosior
  • Dave Scotese
  • David Bakin
  • dergoegge
  • dhruv
  • Dimitri
  • dontbyte
  • Duncan Dean
  • eugene
  • Eunoia
  • Fabian Jahr
  • furszy
  • Gleb Naumenko
  • glozow
  • Greg Weber
  • Gregory Sanders
  • gruve-p
  • Hennadii Stepanov
  • hiago
  • Igor Bubelov
  • ishaanam
  • Jacob P.
  • Jadi
  • James O'Beirne
  • Janna
  • Jarol Rodriguez
  • Jeremy Rand
  • Jeremy Rubin
  • jessebarton
  • João Barbosa
  • John Newbery
  • Jon Atack
  • Josiah Baker
  • Karl-Johan Alm
  • KevinMusgrave
  • Kiminuo
  • klementtan
  • Kolby Moroz
  • kouloumos
  • Kristaps Kaupe
  • Larry Ruane
  • Luke Dashjr
  • MarcoFalke
  • Marnix
  • Martin Leitner-Ankerl
  • Martin Zumsande
  • Michael Dietz
  • Michael Folkson
  • Michael Ford
  • Murch
  • mutatrum
  • muxator
  • Oskar Mendel
  • Pablo Greco
  • pasta
  • Patrick Strateman
  • Pavol Rusnak
  • Peter Bushnell
  • phyBrackets
  • Pieter Wuille
  • practicalswift
  • randymcmillan
  • Robert Spigler
  • Russell Yanofsky
  • S3RK
  • Samer Afach
  • Sebastian Falbesoner
  • Seibart Nedor
  • Shashwat
  • Sjors Provoost
  • Smlep
  • sogoagain
  • Stacie
  • Stéphan Vuylsteke
  • Suhail Saqan
  • Suhas Daftuar
  • t-bast
  • TakeshiMusgrave
  • Vasil Dimov
  • W. J. van der Laan
  • w0xlt
  • whiteh0rse
  • willcl-ark
  • William Casarin
  • Yancy Ribbens

As well as to everyone that helped with translations on
Transifex.
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Board Meetups
Re: Supermoon Tower - ETH Denver | March 1-3, 2023 | Clock Tower, Denver, Colorado
by
ChanTechSolution
on 04/02/2023, 08:49:47 UTC
👍
Post
Topic
Board Bitcoin Discussion
Re: Bitcoin will be vulnerable to Quantum Computers in about 2 years
by
ChanTechSolution
on 04/02/2023, 08:43:29 UTC
There may be a temporary bitcoin recovery, but it is doomed long run b/c it is not quantum secure. IBM wll have a QC of 4,000+ qubits by 2025 (in two years). It takes only 1556  qubits to break the ECDSA encryption used to correllate private to public keys. What this means is if you have an exposed (unhashed) public key - which if you ever used your wallet it leaves an unhashed copy of your public key out there on the network for anyone to have - a quantum computer of 1556 or more qubits can take that public key and reverse engineer out your private key. Game over. Bitcoin has no value other than as a way to Secure information - security is literally its only selling point - when that security breaks, as it will, it has no more usefulness and the value will crash to probably just a few dollars, propped up by die-hard dead-ender BTC maxis. If you want to get rich on bitcoin, short it by buying a short bitcoin etf (example is ticker BITI - not financial advice). Doing anything else will result in losing investment.

Google this / do your own research - this is not "FUD", this is just sober fact. Bitcoin public keys can fall with QC's of just 1556 qubits. (Source: https://security.stackexchange.com/questions/33069/why-is-ecc-more-vulnerable-than-rsa-in-a-post-quantum-world ). Misinformation you hear is that it takes many qubits to crack RSA hence bitcoin is safe - this only relates to the bitcoin mining algorithm not the ECDSA algorithm used to relate public/private keys which is more vulnerable. Again - in 2 years or so IBM will have QC strong enough to reverse engineer private key from unhashed public key. When this happens panic will spread and bitcoin will crash. This is as predictable as the housing bubble collapse of 2008 and just like then, there are people who will shout "FUD" at anyone showing the plain and simple facts. Don't be on the wrong side of this.
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Board Press
Re: Guidelines for Press board
by
ChanTechSolution
on 04/02/2023, 08:19:39 UTC
Great
Post
Topic
Board Legal
Re: Cryptocurrency Law in Brazil
by
ChanTechSolution
on 04/02/2023, 08:10:53 UTC
As I am from Brazil, I have been following this for quite some time.

There is a fundamental problem here with this law, which can be checked in the portuguese version:

https://cointelegraph.com.br/news/on-a-historic-day-deputies-approve-cryptocurrency-bill-in-brazil
Abccripto, a group of old and low quality Brazilian exchanges is behind this law.

This group have tried many times before to as government to ban binance from Brazil, as binance offers a high quality service for very low fees.

You can see here abccripto asking central bank to ban binance
https://www.abcripto.com.br/post/abcripto-aciona-bacen-mpf-e-cvm-contra-corretora-binancehttps://exame.com/future-of-money/dinheiro-tendencias/abcripto-pede-que-bc-mpf-e-cvm-suspendam-operacoes-da-binance-no-brasil/

This group wouls never support this law if it didnt help them in their goal

In the end, national exchanges cannot compete with binance. They offer a bad service (low volume, few coins, high fees, instability and website goes down when price drops etc.. ). So they are trying to ban binance.

Biannce has now about 60% of Brazilian daily volume.
Post
Topic
Board Bitcoin Discussion
Re: opinion: it would be better off if taproot was rolled back
by
ChanTechSolution
on 04/02/2023, 07:58:07 UTC
You can use bitcoin cash as much as you want, why don't you and why doesn't everyone else? Why isn't it worth more than bitcoin if so many people agree with you.

If 95% agree on something, why wait for the other 5 it's a stable shift regardless?

You can't upload a jpeg to most blockchains (eth included) you can upload a pointer but that's not a jpeg or parts of the file across multiple transactions but I doubt anyone's done that recently or found a way to do it that's useful. Anyone can already do that too.
Post
Topic
Board Bitcoin Discussion
Re: Forum moderation policy
by
ChanTechSolution
on 04/02/2023, 07:38:40 UTC
+1

EDIT:  Wait, does +1 count as a zero-value post?   Huh