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The /r/btc China Dispatch: Episode 8: Special Extended Lunar New Year Edition - 8btc Discusses the Official Release of Bitcoin Classic
Howdy /btc, it’s been awhile! The /btc China dispatch was on vacation this week due to the Chinese New Year, but now your humble correspondent is back with the vengeance with more OC from the Bitcoin Sinosphere. In this edition of the /btc China dispatch, we look at a thread on 8btc.com announcing the release of Bitcoin Classic to Chinese readers. I hope you guys find the translation informative. Note that unlike in previous editions of the Dispatch, in addition to the posters’ user names, I have also posted their forum titles in parentheses next to their user names for your reference and possible amusement. All accounts on 8btc.com are ranked based on number of accrued points (essentially upvotes) from, in order of lowest to highest, Noob, Shiphand, Crew Member, Squad Leader, First Mate, Captain and Pirate King. Additionally, some people have custom titles equivalent to Reddit flair. [OP] Subject: Bitcoin Classic Officially Released! Posted by bluestar (Crew Member) Bitcoin Classic has finally been officially released. You can download it via the link below: https://github.com/bitcoinclassic/bitcoinclassic/releases/tag/v0.11.2.cl1 Now miners that support Classic can start using Classic to mine blocks. Does anyone know how many miners there are in China who support Classic? I remember a while ago there was someone on 8btc who gave us a tip off, but now there’s no information whatsoever. Has 8btc been abandoned or are the miner’s secretly planning on making a massive move? Any inside info would be appreciated! You can see the extent to which each version is supported by going to the following page: https://coin.dance/nodes [Response 1] Posted by jb9802 (First Mate) I would like to call on the miners to complete the upgrade of bitcoin as soon as possible. If we wait for Core we’re going to be killed off by Blockstream, Inc. sooner or later. [Response 3] Posted by hempheart (Squad Leader) My guess is that the miners will support Core. The miners are putting their lives on the line with their investment unlike small time investors. The small time investors will still be able to eat even if they lose all their BTC. [Response 4] Posted by yuli7376 (Great Captain of Atlantis) All us smaller players can do at this point is sit back and watch how things unfold. [Response 5] Posted by bluestar (Crew Member) @hempheart It doesn’t matter even if they support Classic as the hard fork will only activate once 75% of the hashing power is behind Classic. Once you get 75% of the hashing power, that means that a supermajority support Classic and Core will be nothing but a niche, so there’s no real “winning or losing” when it comes to this vote. [Response 6] Posted by copay (Crew Member) As the name suggests, Classic is a return to Satoshi’s original vision. [Response 7] Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain) @copay Classic just means classic. What I want to know is whether or not the official release continues to use a 75% threshold for activating a forced hard fork like the beta version, presenting the possibility for a schism in the bitcoin community. If Classic doesn’t support the 90% 2MB consensus then supporting Classic is basically just like supporting a fracturing of the bitcoin community. I strongly suggest that miners should emphasize first and foremost not dividing the community and boycott any contentious version that forks after less than 90% of hash power is reached. Pools that support forking at 75% want to divide the community and I advise all miners to leave these pools. It is no longer a simple question of 1MB or 2MB, but rather a question of 75% versus 90%: fork plus schism versus fork with no schism. The issue is about maintaining the unity of the bitcoin community. To digress a little bit, Bitcoin XT, which has already been abandoned, also sought to hastily fork at 75% and divide the community. You can find more information on Qt versions here: http://BitQT.com [Response 8] Posted by copay (Crew Member) @Ma_Ya What is the big difference between 75% and 90%? [Response 10] Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain) @copay In the event of a hard fork activated at 75%, there’s a possibility that the remaining 25% of hashpower will hold out. That is, the hashpower ratio will be 75%:25% = 3:1; at this hashpower ratio there is definitely a possibility that the two coins that result from the fork will coexist and compete with one another. This will result in a splitting of the community and there will be two bitcoins. They will attack one another and claim the other coin is an alt while each saying their own coin is the true bitcoin. One the other hand, if a fork happens after 90% of hashpower is behind it, the hashpower rate is much higher at 9:1. When the hashpower ratio is this high, the miners working on the 10% chain will need 10x as long to produce a block and they could be attacked by the other 90%, who would only need to send 1/9 of the hashpower to attack the other chain. Therefore it will be difficult for the 10% chain to survive over the long term. Therefore there will be no split in the community. [Response 11] Posted by petaflops (Squad Leader) Awaiting the results. [Response 12] Posted by bluestar (Crew Member) @Ma_Ya Come on, man. You don’t need to say the same thing twice. It’s not like your response is highly technical. [Response 13] Posted by Ma_Ya (Shibe Loves BTC Love Doge Guide idgui.com Captain) @bluestar Four Major Mining Pools Call for Consensus, Reject Hard Fork to Bitcoin Classic http://8btc.com/forum.php?mod=viewthread&tid=28955 My proposal that Classic needs to support the 90% 2 MB consensus as soon as possible is made in good faith. Currently Classic does not support the 90% 2 MB consensus and insists on initiating a hard fork at 75% with the possibility of dividing the community, so the major mining pools have come out with a joint statement saying that they do not support it. This joint statement is Classic’s failure. I never would have imagined that their failure would be announced as soon as they released an official version. The results might be different if the official version had supported the 90% 2 MB consensus and avoided the risk of dividing the community. [Response 14] Posed by Qin’s Love (Captain) Small time investors can only watch from the sidelines. [Response 15] Posted by bincoin (First Mate Invincible Speculator in Stocks, Futures, Currencies, Gold, Bitcoin, Goocoin and Agricultural Products) A solution is out there, which is good. Much better than the unending bluster from Core. Whether you support Classic or not, they’re efficient. [Response 16] Posted by jb9802 (First Mate) @Ma_Ya The front page of 8btc: http://www.8btc.com/34454 [Translator’s Note: The headline of the page linked to reads “A Summary of Discussion Regarding the Raising of the Bitcoin Block Size”] Take a close look. The pools haven’t rejected it, they’re just waiting to see how Core responds. Btcc, who are regarded as diehard core followers said: “if Bitcoin Core still does not consent to raise the block size using this method, then we will very probably need to look for another leading team to implement a hard fork, with an activation period of 12 months.”
Btcc has given Core 1 year (of course I personally think this is too long); if Core does not implement a hard fork then btcc will have to find some other solution.
The fact of the matter is that everyone is waiting for a statement from Core and if they don’t make themselves clear in the next few months then their exit will be inevitable.
[Response 17] Posted by bluestar (Crew Member) @jb9802 Honestly I don’t think there’s any need to respond to this guy’s mantra-like posts. Every time I see one of his posts it’s like hitting a brick wall. I’ve already responded to his calls for 90% support many times in the past. It doesn’t matter how logical you are, he’ll just ignore you and if you slip up anywhere in your argument he’ll just dwell on it without letting go. It would be better to wait until he actually posts something interesting before responding. [Response 18] Posted by DogeCoin-Keeper (Cosmically Super Awesome Invincible Badass Smart Alert Handsome as Fuck Pirate King Who Is Better Than You in Every Way) It looks like it’s going to be impossible to raise the block size this way. There will definitely be a simpler way to raise the block size in the future. [Response 19] Posted by bluestar (Crew Member) @DogeCoin-Keeper Yeah, there’s a simple way. If Core was willing to lead a hard fork it could be accomplished immediately. The problem is they’re not willing. [Response 20] Posted by DogeCoin-Keeper (Cosmically Super Awesome Invincible Badass Smart Alert Handsome as Fuck Pirate King Who Is Better Than You in Every Way) @bluestar I think that the current situation is actually okay. If BTC relied on only one team to decide its direction then it wouldn’t need to exist.
Hey guys. Despite the recent events for theDAO/price increase, there is relatively little talk on the 8btc boards. Even the section of the board dedicated to Ethereum has sparse activity. Here's something I found though, first posted April 21, 2016. Link(user) 我叫小黑
昨天听朋友说起以太坊，不知道这个是否值得投资 A post from (user) 我叫小黑 titled "Yesterday a friend mentioned Ethereum to me, not sure if it's something worth investing in"
多看看相关资料再说呗。 "Look up some information and then decide."
可以小试一把 "You could try a little bit."
钱多就投，没钱就观看。 "If you have a lot of money, invest, if not, then just watch the market."
个人绝的不值得 "I personally don't think it's worth it."
Those were all posts leading up to April 23. Here are posts from two days ago until today. HBF123456
现在去接盘啊 "Time to be the bag holder" (angry monkey emoji)
哈哈，暂时接不起 "haha, not bag holding at least for now"
最近比特小赚一点，不过在以太上亏了一点，可以说不赚不亏 "Recently made some money on Bitcoin, but lost a bit against Ether, so pretty much a zero sum game."
涨了20%ETHjint "ETH is up 20%"
还是少点接盘为好 "that's right, being a bag holder is great! (sarcastic)"
习惯就好加。 "(in response to the 'zero sum game' comment): you'll get better after you get used to trading"
赚钱是一个长期的生活，让你哭，让你笑，我只能说这个世界太凶残了！ "(in response to 'you'll get better...' comment): making money is a life-long affair, it'll make you cry, it'll make you laugh, I can only say this world is too harsh!"
不管是怎么样，参与了，不贪心，有赚就够了 "(response to 'bag holder is great!' comment): either way, I participated, didn't get greedy, and made enough money"
没办法，人性都是这样的。 "(response to 'world is too harsh!' comment): not much you can do, that's just how life is everywhere."
不说人性不说生活，只怪社会太现实！ "It's not our lives or life itself, I blame society!"
THE 1ST SHIBE AWARDS | 2016 - One Sentence One Love Contest!
We held a Dogecoin creative contest - One Sentence One Love initiated by Chinese Dogecoin community from Dec 30, 2015 to Jan 27, 2016. institution and organizers include: @Dr. Han Tsinghua University 黄天威 CEO of BTC38.COM 江恩 China Dogecoin Association 长铗 Founder of 8BTC.COM 巴比特-Miner 8BTC.COM 币乐园-满满 CEO of bileyuan.com 狗叔UncleDoge Founder of DFC(Dogecoin Foundation China) All the submissions of One Sentence One Love Contest is here Congratulation! winner list:Chinese thread Awards:
From top 1 to top 10:
Top 1: 888888 Doge Top 2: 588888 Doge Top 3: 288888 Doge Top 4: 88888 Doge Top 5: 78888 Doge Top 6: 68888 Doge Top 7: 58888 Doge Top 8: 48888 Doge Top 9: 38888 Doge Top 10: 28888 Doge
Reddit Dogecoin Community's submissions can get extra 28888 Doge if your rank is between top 1 to top 10.(SEE Top1~Top10 list,5 shibes have this chance)
Every submission can get 888 Doge(We have 47 shibes's works).
We chose another 20 the-best-work from both Chinese community(10) and reddit community(10) if your rank is out of top10. It depends on your score gave by the above judges.
沁园春·狗狗币 币国风光，千币争雄，万市雪飘。 望国内国外，情伤萦绕；荧屏上下，顿失雄矫。 K线如蛇，蜿蜒匍匐，欲与地神眠不晓。 须春日，看万币飘绿，分外妖娆。 币市如此多娇，引无数机构竞折腰。 惜莱特元宝，略输情怀，以太瑞波，稍逊风骚，一代王者，比特大哥，只适储备大额贸。俱往亦，数流通货币，还看狗币笑傲！ Top 3：
Top 4： 25.GodOfSky Doge is love doge is life Doge就是爱！Doge就是生活！ Top 5：
最美的不是下雨天，而是我们一起走过的币圈； 我就是喜欢你看不惯我，又不得不和我一同建设币圈的样子； 如果全世界都对你恶语相加，我要对你说还有狗狗币； 玩狗狗币的人运气都不会太差； 今天的区块链你爱理不理，明天的可编程经济你高攀不起 Top 6：
上联： 区块链里狗狗币熠熠生辉 下联： 比特币外狗狗币唯我独尊 横批：狗狗币大涨 Top 7： 17.MisterTree Every coin and every block has had their own personalbackground and story to them. 每一个币，每一个块，都有他们自己的背景和属于他们自己的故事！ Top 8：(We have 2 top 8) 15.dogecoindripper Dogecoin, I didn't invest in a coin; I invested in acommunity. 狗狗币，我并不是投资一个币；我是投资一个社区！ 41.kingscrown69 Entering: You can tip without loving, but you cannotlove without tipping! 你可以无爱而赏，但岂能爱而无赏！ Top 9： Warnub 37.Poem from deep down Dogecoin and bitcoin its all thesame lets reunite and put are differences ashame, to be a community is to befriends, doge and bitcoin they all share the same, to give to its community isall it takes, the simple share therw the block-chain can possibly help someonethrew their day. 来自狗狗币和比特币最深处的诗是相同的，让我们重新联合起来，友谊成就社区，狗狗币和比特币都一样，铸造社区是目的所在，是简单的分享；扔掉区块链，就可能扔掉他们的未来！ Here is the rank from #6~#15 from reddit dogecoin community, all of these 10 works can get 8888 doge: 42.couchdive Individually, we all come together to create a revolutionary way to to share borderless economic value, charitable giving, and a whole lot of fun, with each other and the world! 分别的，我们走到了一起，创造了一个革命性的方法，去分享无国界的经济价值，慈善捐赠，和一筐筐的欢乐，跟所有人和这个世界！ 1.wilmerg The Moon is very Near if you have Doge. 月亮是如此的近，如果你拥有狗狗币； Without Doge, Moon is impossible. See the chart. 没有狗狗币，月亮不可见，请见表； And try your best to climb the Moon. 尽你的所有的努力去攀爬月亮； Jokes, Memes are real now. Doge to the Moon. 笑话，迷因现在变得真实，狗狗币到月亮； Join us, we take you to the Moon. Such Shibeness! 加入我们，我们带你到月亮，骄傲的施比人； Anything is possible if we are united! 我们联合起来，没有什么是不可能的！ 18.buzz___ Together we can take a stance against widespread capitalistic oppression and find freedom in 3rd party free economy. 站在一起，我们能够团结一致，对抗无处不在的资本主义压迫，在没有第三方的经济里找到自由！ 14.aesarium Economic equality - All of humanity, linked by the blockchain. 经济恒等式-一边是所有的人类，一边是区块链！ 20.buurp I am locked in a chain of doges and bits and still I am as free as i can ever be 我被锁在了狗狗币和比特币的长链里，却和往常一样的自由自在！ 10.DeadSol Dogecoin, a community driven currency aiming to spread peace, love, happiness and wealth to all those on the earth, and off it. 狗狗币，一个社区驱动的货币，目的是传播和平，爱，幸福和财富！向所有在地球上的人类，和不在的。 19.shibetank Every block in the chain adds a piece of history and adds character for both bitcoin and dogecoin 在每一个链的区块里，印上了一段历史，印上了比特币和狗狗币的风格！ 38.kajeagentspi Doge you can make confirmation time fast Doge youuu can make this world so fast Doge you can go to the moonnnnnnnnnnnnnnnnn 狗狗币，你的确认是这么的快；狗狗币，你让这个世界转的这么的快；狗狗币，你定能飞到月球！ 43.rivierafrank No matter the amount of Dogecoin you have, all it takes is one to be set on the road to Happiness and prosperity. 无论你拥有多少狗狗币，你所必须的是走在幸福和繁荣的道路上！ 21.u/keerthiselva DOGE LOGE LOVE DOGE LOGE 爱 DOGE IS LOVE. DOGE就是爱 Winner's award Dogecoin will be sent in this original thread in 3 days! Edit: All the award have bee sent in this original thread! Congrats!
Is it worth it to get into it this late in the game? (Is it late in the game, or is it early and there's a lot of potential left?)
I'm confused about the 'wallet' concept that coins go into. Is there somewhere I go to get this? Is it website specific, or universal?
Is there somewhere I can go to get help walking through the process of starting this? I've read the getting started guides, but I am nervous and would feel better having someone a bit more experienced lending a helping hand.
Is there further resources I should be reading before getting into this? ( Links please? )
Is bandwidth an issue?
I'm planning on starting off small, with my personal gaming rig. Not 24/7, but part-time. Depending on what I see, I'm considering investing in a mining rig within a year. I plan on using e-currency as an investment. Is this wise? What's your experiences? Anything you think is worth bringing up to someone about to get his toes wet in this process, please, let me know. No tid-bit is un-juicy to this sponge. I'm trying to learn as much as I can.
Why the feds should sell their DPR bitcoin to institutional investors
After nearing the $1000 threshold once again, the price of bitcoin corrected yesterday and now trades around $815. But with the spate of recent positive news re merchant adoption (Overstock, Zynga, maybe Netflix), institutional interest (Fortress / Pantera), and regulatory wins (India, US - see Tid Bits), it’s hard not to like Bitcoin in 2014. There is only one piece of news that seems to be applying downward pressure on Bitcoin prices. And I believe that news is being wildly misinterpreted. Yesterday, TechCrunch broke a story on the arrest of another one of the Silk Road moderators in Ireland, but buried the lead: *In related news, the millions of dollars in bitcoin seized by the FBI from Ross Ulbricht and the first Silk Road, currently stored in a set of online wallets, appears to be on the move. A source in the U.S. Justice Department said that “authorities” have access to the Ulbricht’s bitcoin cache and may be selling it off for less volatile currencies in the next few weeks. Ulbright has given the U.S. government the private keys to the bitcoins. “The reason for selling is that the Government has lost faith in the value of bitcoin and does not want to deal with the volatility of the currency,” the source said.* The prospect of a government firesale spooked many people within the Bitcoin community, and rightly so. Yet while a rapid wholesale of the seized Silk Road assets would overwhelm the market and send the price of bitcoin crashing, it’s hard to imagine the government acting so foolishly. Say what you want about our dear leaders, but you can bet your ass that they will be careful when cashing in $115 million worth of found money (market rate for the ~144,000 seized bitcoins). They have two much better options. The first obvious solution is to wind down the position gradually…maybe 1000 BTC per day, and deal with the ensuing near-term volatility. Within less than six months, they could take their gains without breaking the market. There is also a second, better option that has been neglected: if the federal government has indeed lost faith in the value of bitcoin (which is an insanely ironic claim given QE 1-infinity) and desires a quick disposal of its assets, it might do well to consider an institutional sale. If 2014 proves to be the year of the institutional investor in Bitcoin, the feds are a big seller in a sellers market. There could already be plenty of interested parties with the liquidity to make such a large scale asset purchase. Dan Primack at Fortune broke news before New Year’s about the $150 million bitcoin-related fund that Fortress Investment Group is forming with Pantera capital. Is it really that unlikely that a trading desk at Goldman Sachs, JPMorgan, BofAML, Citi, Morgan Stanley, etc. buys a similar stake? If that is a possibility, then Wall Street is in the complementary “buy” position to the feds’ ”sell” position. Moreover, you have have to believe that in the event of an auction like this, the feds would be tipping their hand when it comes to their anticipated regulatory stance on Bitcoin. ”It’s a legal commodity, Wall Street…fire away!” The enormity of a federal asset sale to institutional investors cannot be understated from a legislative perspective, either. If Wall Street starts making money within the Bitcoin ecosystem, they could call off the lobbying dogs that would otherwise work to impede Bitcoin’s progress within the existing regulatory framework.
Back up and running, (Such Engine start) alive and kicking (So Bulls. Much Graphics) with more graphics and sound effects than ever! (EXPLOSION) (BOXING BELL) (MACHINE GUN SOUND) So let's get it started!
Bitcoin is back in the news, and receiving pro's and cons all over the place!
A satoshi is the smallest denomination of cryptocurrnecy, it's easier to say 26 satoshi than it is to say 0.00000026 Bitcoin. This follows for pretty much all cryptocurrencies, except for Pennies, which can only be traded in whole values (No fractions).
The Bottom Line
I do not know exactly what's going on with DogeCoin right now (SCREAMS) simply because the market is going all wonky (Much Confuse) at the moment and the factors that were affecting the market, merely a few days ago are not affecting the price that much today. Network Mining rate should drop rather significantly, however other coins are not getting as much popularity as Doge (Such Moon). I still say that DogeCoin is Significantly undervalued, since it has more market power than most other alt-coins combined and the current USD value of a Megadoge is very low LINK The community of Shibes has indeed added much to the value of Doge, but don't stop yet, we have come so far, but still need to overcome the hardest obstacle, if LTC is the atmosphere, then Bitcoin is Earth's gravity.
Suit up, cause it's going to be a bumpy ride! Much Booyah!
Buy a bit when it drops, then sell when it jumps back up.
EDIT: Since our ISP is constantly down, we're unable to have consistent market data. We are currently focusing on long-term only since short term changes cannot be communicated. Apologies for the inconvenience.
Bitcoin & Crypto Tidbits. Grayscale Sees Record Inflows Into Bitcoin & Crypto Products: On January 16th, Grayscale released its “2019 Digital Asset Investment Report.” Per the report, which summed up the performance of the company’s funds and other investment vehicles in 2019, the company raised $607.7 million worth of investment last ... Grayscale Sees Record Inflows Into Bitcoin & Crypto Products: On January 16th, Grayscale released its “2019 Digital Asset Investment Report.” Per the report, which summed up the performance of the company’s funds and other investment vehicles in 2019, the company raised $607.7 million worth of investment last year. The report, while filled with other tidbits of data, has seemingly two ... Another week, another of Crypto Tidbits. Bitcoin (BTC) bulls continued to show their faces after a brief lull. Per data from Coin360, the leading And secondly, you should also be able to come up with an investment of a sizeable amount, without that you cannot buy a decent amount of a bitcoin and proceed with your desired trade. Due to this, some people often try out the third alternative that there is to this trade. Mining cryptocurrency: As we discussed above, there is no way any government can tax theses currency. They are truly ... Bitcoin, eine gewaltige Stromverschwendung. Sowie die 21 Mio. Bitcoins erschaffen wurden, wird keiner mehr minen. Also mit welcher Rechenpower sollen die Transaktionen dann noch realisiert werden?
Crypto Tidbits Bitcoin Plunges Under $9,000, Bitfinex and OKEx DDOS
On episode 4 of Retire With Coffee, the legendary Host from Retire Yesterday, Live Today is at it again bringing you some educational tidbits about bitcoin. It's a fun, educational, and an ... Bitcoin and Ethereum emerged as star performers in Albright Investment Group’s flagship macro fund. Its co-founder Victor Dergunov revealed in an investor no... My Bitcoin Investment Strategy: Should You Buy Bitcoin & Other Cryptocurrencies? - Duration: 13:28. Project Life Mastery 106,272 views. 13:28. In this video I talk about 3 of the biggest lies about investing in the stock market that far too many people believe to be true. Hopefully this video will d... We take you through the steps to purchase Bitcoin without a mobile wallet. Watch more video's to find out how to import your paper wallet and start using you...