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Showing 20 of 23 results by James Newman
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Topic
Board Speculation (Altcoins)
Will ETH beat BTC someday?
by
James Newman
on 18/02/2018, 11:26:28 UTC
Is there any chance that Ethereum will cost as much as Bitcoin in 2018?
Post
Topic
Board Bitcoin Discussion
Re: Are there any roadmap/list/plan for Bitcoin Cash development?
by
James Newman
on 18/02/2018, 11:20:52 UTC
BitcoinABC

Increase default block-size limit, and move towards adaptive block size limit
Move toward canonical transaction order, perhaps removing transaction ordering consensus rule as a first step.
Improved Difficulty Adjustment Algorithm
Re-activate some deactivated Opcodes, and move toward adding protocol extension points to facilitate future Opcode upgrades
BitcoinUnlimited see bottom of the page

Adjustable Block-size Cap (ABC): The BU client allows node operators and miners to easily adjust the size of blocks they accept without having to restart their node or recompile new executables.
Xtreme thin blocks (Xthin): Bitcoin Unlimited was the first client to fix the inefficiency in the core Bitcoin code that resulted in transactions often being received twice by each node. BU's solution improves block propagation times and reduces the number of required bytes.
Parallel validation: The BU client enables nodes to validate more than one block – along with new incoming transactions – all at the same time. This neutralizes an existing attack vector while improving the network’s performance.
nChain

Massive Scaling. The Developer and Testing Groups commit to enable massive scaling of the Bitcoin Cash network, so that Bitcoin Cash becomes a fast, low-fee, global peer-to-peer electronic cash system.
Regularly-Scheduled Protocol Updates. To achieve that vision, the Developer and Testing Groups will schedule Bitcoin Cash protocol upgrades on a planned date every 6 months – beginning May 15, 2018 and November 15, 2018. This regular schedule gives the Bitcoin Cash user community significant advance notice to prepare for protocol upgrades in an organized manner.
May 15, 2018 Protocol Upgrade. Under the semi-annual schedule, the next protocol upgrade is planned for May 15, 2018. nChain is pleased to see that the Developer and Testing Groups will work towards incorporating the following features, to the best extent possible:
Block Size: Increase the default block size limit, with a goal of 32MB for the next upgrade. nChain will support appropriate testing with the Developer and Testing Groups, which will help determine the increased block size. Whatever size is ultimately decided, nChain is pleased to see a commitment to larger blocks. Additionally, for a future protocol upgrade, the Developer and Testing Groups intend create an adaptive algorithm to determine the maximum block size.
Difficulty Adjustment Algorithm: Implement further improvement to the DAA to continue stabilizing mining on the network;
Op Codes: Begin the process to restore op codes that were previously disabled in the legacy BTC chain (now SegWit)
Transaction Order in Blocks: Remove the current restriction on transaction order in blocks, and replace it with a canonical order by transaction ID.
For the next following upgrade (on November 15, 2018) and subsequent upgrades, the Developer and Testing Groups will confer on what features to include.

Extension Points. The Developer and Testing Groups intend to use known extension points to introduce new features into Bitcoin Cash. To date, there have only been 2 ways to upgrade the Bitcoin (or Bitcoin Cash) network, commonly known as a hard fork or a soft fork. Both mechanisms have their own shortcomings. Soft forks are activated by miners and there is no way for node operators to voice their opinion nor oppose on the fork. On the other hand, hard forks require all users to upgrade in lockstep and creates risk at time of activation. Extension points provide a new, and easier, third method to implement protocol upgrades. (Extension points are a method by which nodes implement new Opcodes and other changes that are not, strictly speaking, hard or soft forks. This is accomplished by introducing an indeterminate state that is neither “valid” nor “invalid” but temporarily valid and dependent upon proof of work using a form of emergent consensus.) The Developer and Testing Groups will evaluate when, and how, to begin using extensions points for the upgrade process.
New BCH Address Format. The Developer and Testing Groups will work on a new address format for BCH, in order to prevent the risk of users mistakenly sending BCH to a BTC address, and vice versa.
Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin Really The Future Of Money?
by
James Newman
on 08/02/2018, 15:25:10 UTC
Yes no doubt the future.
Amazing concept and blockchain frame work.
Hell yes it the future. For INR conversion atleast it's a blessing
Prediction of bitcoin price in future:
Experts in BlockChain / Bitcoin technology say that Bitcoin price will hit as follows-

$10,000 USD (above ₹6,50,000) by the end of 2018,

$3,00,000, (above ₹2,00,00,000) by the end of 2020.
Post
Topic
Board Bitcoin Discussion
Re: which cryptocurrency should I invest when I have a little money ?
by
James Newman
on 08/02/2018, 15:06:55 UTC
Well thats a very personal decision, and it comes after some research and knowledge of the market and specifics relating to other coins available, bitcoin is a pretty safe bet, but I would watch the market closely and make sure to buy on a good low, then continue monitor the market and sell on as profitable high that you can, you may have to leave it sit for a while, or it could always possibly explode in minutes, if anyone could accurately predict the market, we would all be filthy rich, so I suggest you do your homework and make as much of an educated decision as possible, pay close attention to your comfort level and take in as much information as you can, and decide which information you trust the most and discard the information that you don't feel is as worthy, but never buy any coin with money that you don't wanna lose.
Post
Topic
Board Speculation
Re: Should I Invest in Bitcoin in 2018?
by
James Newman
on 08/02/2018, 11:42:10 UTC
The future is forever changing and bitcoin is just part of that change. This is what i tell people all the time.If your open to change you will understand how you can benefit.
Post
Topic
Board Bitcoin Discussion
Re: What are your plans with your Bitcoin?
by
James Newman
on 08/02/2018, 11:34:56 UTC
I'm planning on hodling for the long term. Selling my Bitcoin for fiat would technically realize a capital gain, so I'm just going to keep it and use it to spend on things directly as its value rises. More and more things will become available to buy over time, its inevitable. Smiley
Post
Topic
Board Archival
Re: What is Bitcoin Wallet?
by
James Newman
on 08/02/2018, 11:27:32 UTC
What is a Bitcoin Wallet?
A “wallet” is basically the Bitcoin equivalent of a bank account. It allows you to receive bitcoins, store them, and then send them to others. There are two main types of wallets.

A hot wallet is one that you install on your own computer or mobile device. You are in complete control over the security of your coins, but since they are on a device that is connected to the internet they are less secure.

The second type of wallet is a hardware wallet. They maintain high levels of security to protect your coins by storing your coins offline. Offline storage keeps your coins and ata out of reach from hackers.

The two most popular hardware wallets are the Ledger Nano S and TREZOR.
Post
Topic
Board Bitcoin Discussion
Re: Can we survive without Bitcoin?
by
James Newman
on 08/02/2018, 10:32:13 UTC
Technically, yes, there are many implementations of blockchains that do not use bitcoin. But it really depends on what you define as success and who you ask. Arvind Narayanan, a professor at Princeton, believes a private blockchain (e.g. one that does not use a cryptocurrency like bitcoin) is just a confusing name for a shared database.

If you define success as permissionless innovation – the ability for any person to be able to build applications or transact with a blockchain without needing permission from another person or organization – then yes, you need a public blockchain like those of bitcoin, ethereum, litecoin, etc.
Post
Topic
Board Bitcoin Discussion
Re: Why Cash is better than Bitcoin.
by
James Newman
on 08/02/2018, 09:32:46 UTC
Этo вo мнoгoм зaвиcит oт тoгo, кaкoвa цeль eгo иcпoльзoвaния. Кaк пpaвилo, вaм мoжeт быть пpoщe иcпoльзoвaть cтaндapтныe плaтeжныe cиcтeмы. Bы тaкжe избeгaeтe измeнeний в cтoимocти вaлюты пpи oплaтe в вaшeй вaлютe. Teм нe мeнee, биткoйн дaeт вaм aнoнимнocть и мoжeт быть geeky cпocoбoм oтпpaвить дeньги кoмy-тo.
 Grin Roll Eyes
Пpocтo имeйтe в видy, чтo биткoйн нe пpocтo кaк фyнт cтepлингoв или дoллap, oн включaeт в ceбя бoлee cлoжныe aлгopитмы, пoэтoмy вы мoжeтe зaплaтить, иcпoльзyя oдин из пocpeдникoв пo oплaтe биткoйнoв.
Post
Topic
Board Bitcoin Discussion
Re: Why do some government ban bitcoin?
by
James Newman
on 08/02/2018, 09:10:00 UTC
There are several circumstances in which regulation or banning could come into play, each of which has certain drawbacks from the standpoint both of consumers of Bitcoin and regulators. There are certain ventures within the Bitcoin community which involve cooperation with mainstream banking entities, something that effectively "regularizes" the currency. This, which allows both easy entry and high volume transactions, also is the easiest to regulate, since banks are forced to be compliant with a great number of regulations. In this sense, the more normalized and regularized certain aspects of the Bitcoin economy become, the more vulnerable it is to regulation.
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The other tactic is to target Bitcoin partners, all of which by necessity have some sort of address (both literal and virtual). For example, large Bitcoin users like Silk Road could be aggressively targeted by law enforcement via raids and and confiscation of servers, etc. A second tier could be Bitcoin exchanges, suspected on account of being vehicles for money laundering (these charges are what led to the demise of previous digital currency companies DigiCash and E-Gold). 
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Actually banning Bitcoin is also a possibility. As noted by some Bitcoin experts, it is also possible that a nation-state could dedicate enough computing power to "break" Bitcoin. It could presumably ban Bitcoin as well, but again many things currently traded within the Bitcoin community (i.e. drugs) are also banned -- the more tricky thing is to determine what governments can actually enforce.
Post
Topic
Board Bitcoin Discussion
Re: What is the best way to earn bitcoin?
by
James Newman
on 08/02/2018, 09:00:41 UTC
Buy it - This is the easiest way possible to buy a bitcoin by giving the equivalent real currency to someone. For example, one bitcoin = 1,35,433.28 INR presently. So, I can give that amount to someone in Rupees and he will provide me one bitcoin.
Sell some product - If I want to sell my car, most probably I’ll sell it in Rupees since I live in India. Instead of that, I can ask the person to pay me for the car in the terms of bitcoin. In this way, I’ll get a bitcoin as well.
Bitcoin mining - This is a typical harder way than previously mentioned ways. Whenever a transaction is done, a mathematical problem is attached to it to it. We need to decode that problem and solve it. For this, many people hire other people called ‘miners’ to solve those problems. When the problem is solved, that miner gets a commission of some of the transaction.
Post
Topic
Board Speculation
Re: Why is Bitcoin falling?
by
James Newman
on 08/02/2018, 08:42:03 UTC
Its for sure nothing to be worried about, if you are bothered its dropping then you’re not supposed to be investing in bitcoins to start with.
Post
Topic
Board Speculation
Re: Buy now or wait for even lower price?
by
James Newman
on 08/02/2018, 08:33:22 UTC
I would say to start buying in small quantities. Do not wait for lower prices. Better to do it from now on we can not predict when the price will be lower again. Smiley
Post
Topic
Board Bitcoin Discussion
Re: Why use Bitcoins ?
by
James Newman
on 08/02/2018, 07:03:18 UTC
Things that come to my mind:
You have full control over your assets. Whether it's safer than storing money in a bank is of course debatable.
You can trade without a centralized network of institutions, yet with the same level of guarantee against things like double spending.
Limited supply, so no inflation. Whether that's a good thing is up for debate.
A certain level of anonymity, under specific conditions. You need to know what you're doing before you bet your life on it.
Post
Topic
Board Speculation
Re: Should I Invest in Bitcoin in 2018?
by
James Newman
on 06/02/2018, 16:03:34 UTC
Not an easy one.

I would only invest in bitcoin is you believe fundamentally that the concept is sound and will in the long term be profitable for you.

Is it a revolution? Is it just a false direction? Is it the best thing ever or is it just technology proving it can do something, even if there is no need? British train boom or pet rock?

The true answer won’t be known for a while yet. So investing is based mostly on where you feel it will be. Good luck, it’s about on par with roulette right now I think.
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Topic
Board Beginners & Help
Re: Who are the richest people in Bitcoin?
by
James Newman
on 31/01/2018, 07:33:59 UTC
- The Winklevoss Brothers talked about owning about 1% of all bitcoins.
- Roger Ver AKA "The Bitcoin Jesus" owns a lot.
- And of course Satoshi Nakamoto is reported to own around 1,000,000 BTC.
Post
Topic
Board Bitcoin Discussion
Re: What is Virtual Money?
by
James Newman
on 31/01/2018, 07:07:06 UTC
Virtual Money can be defined as a digital representation of value that is issued and controlled by its developers, and used and accepted among the members of a specific (virtual) community. Unlike regular money, it is relying on a system of trust and not issued by a central bank or other banking authority. In this article, Sia Partners explains why “Virtual Money” could become really important, which are the main products and players in the market today and what are their main characteristics, risks and advantages. We also explain key concepts related to Virtual Money, such as “Mining” and “Blockchain”.
Post
Topic
Board Bitcoin Discussion
Re: Why should people invest in bitcoin?
by
James Newman
on 31/01/2018, 06:44:46 UTC
Reasons to Invest in Bitcoin
-Instability is good for Bitcoin.
-It's easy.
-It's low-cost.
Post
Topic
Board Bitcoin Discussion
Re: Is Bitcoin really secure?
by
James Newman
on 31/01/2018, 06:25:28 UTC
Bitcoin is safe until you keep your private key secret.

When your private key is leaked, then no one can help you.
Post
Topic
Board Bitcoin Discussion
Re: Why do people want Bitcoin?
by
James Newman
on 30/01/2018, 15:47:33 UTC
It’s made for our generation
It’s fast, secure and global
Bitcoin was designed with your privacy in mind
Bitcoin is not subject to inflation
Bitcoin provides financial freedom