Bitcoin Blog a1

Monday, November 20, 2017

Tethers Mircopost

I don't have time for a big post right now, but I saw a great post on twitter. There is a lot of  talk about what is driving the price of bitcoin so high. I don't have an answer for you, but some people do. Some people are saying its people buying bitcoin with USDT. USDT for reference is a cryptocurrency that is tethered to the the US dollar. So one USDT is one dollar. You can read up on this later. Some people think that using this tethered currency is artificially inflating the price of bitcoin. So  this post may be the perfect response.

Sunday, November 12, 2017

Saturday, November 4, 2017

New Wallet

Well apparently multibit has ended support for their wallet and I had no idea.  So now I need to get my coins over to a new wallet. I’ll be using Electrum for this. It's good so far. I wish it had the total value of your bitcoin displayed in USD, but that's ok.  

It seems I’m a little behind the times on quite a few things. Here are some things that I meant to report on, but time got the better of me.


I got a scam email considering bitcoin

The email refers to me as bob the miner, so it must have been one of the mining pools I used in the past that was hacked or something.


I submitted my claim on a class action suit against Cryptsy, you know, that exchange I lost my btc on. Looking at the balance I lost is now worth 21 bucks (I’m pretty sures it's like 60 now)! It was just 4 bucks when I sent it. Wow. Let's see if anything comes of it.


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If you are ready to get serious about bitcoin, take the plunge. Here is my book on amazon.


Tuesday, October 17, 2017

Bitcoin Car Talk 12: John McAfee



This video's quality is a little bit questionable. Maybe alot actually. Also, there is profanity, so you are warned. John enters the video a little after 1:20.






Sunday, October 15, 2017

More Forks

It seems bitcoin might have more forks up coming in the future, likely due to the success of the last hard fork, BCH. Despite my concerns that forks might cause confusion in the market and lower the price of bitcoin, it seems the opposite is true. Last time and this time, the price of bitcoin has raised prior to a fork. This new environment has made everyone have to take a stance on forks, like here is the policy for hard forks at my favorite faucet freebitco.in. (why not sign up right now)

HARD FORK POLICY

Bitcoin has 2 hard forks planned in the near future - "Bitcoin Gold" and "Bitcoin Segwit 2x". As we have done with the "Bitcoin Cash" hard fork in the past, we shall support withdrawals of all hard fork coins as long as they are viable - ie. have wallet support, a working blockchain and straightforward redemption policies. The "Bitcoin Gold" hard fork currently does not seem to be a viable fork - since they have not given any information about the fork on their website (btcgpu.org) and have no supported wallets yet. If there are no wallets that support it, we shall not be able to make "Bitcoin Gold" available for withdrawals. If however, there is wallet support for "Bitcoin Gold" before the hard fork date and the block number for the fork is announced in advance, we shall make it available for withdrawal.
We shall be supporting the "Bitcoin Segwit 2x" fork since it already has a working wallet and has announced the block number when the hard fork will happen. If a majority of miners switch to "Bitcoin Segwit 2x" and it has the chain with the most Proof-of-Work, we shall make it our primary coin and "Bitcoin Core" coins will be made available for withdrawal to your own wallets, otherwise "Bitcoin Core" shall remain our primary coin and "Bitcoin Segwit 2x" coins will be made available for withdrawal to your own wallets. In either case, users will receive coins in both the majority and minority chain equivalent to the balance that they had on the website prior to the hard fork.
We shall be pausing deposits and withdrawals temporarily before the "Bitcoin Segwit 2x" hard fork until a clear winner has emerged. Everything else on the website will function as usual. The fork is scheduled to happen at around the middle of November. We shall give advance notice of when deposits and withdrawals will be paused before the fork date.

It seems like a very accepting policy. Prior to the last bitcoin fork, many companies stated they would not honor the new fork. However, it seems most of the ones I dealt with did in fact give out BCH, although many did not have a continued use for it.

It has just come to my attention that ETH may have a fork tomorrow! Here is an article on it.


Also, don’t forget to follow btc+ on facebook.

Wednesday, October 11, 2017

Chance to win a hardware wallet

Here is an interesting offer with a chance to win a hardware wallet. Check it out.


Mike has a very good point that leaving crypto on an exchange is a bad idea. I don’t think buying a hardware wallet is 100% necessary, you can easily mitigate this using a desktop wallet.


In other news, I recently got a spam message on Reddit. Here is a post about it. I’m not sure what the spammer gets of this except perhaps some email addresses.


Saturday, September 30, 2017

Old news on BTC-e

Looks like once again, I have some old news I never published. So check it out now, months later!


BTC-e has been raided.

Well it looks like another bitcoin exchange is shutting down. This is different though, because it is for money laundering. There are lots of allegations going around. Some people are saying stolen funds from Mt. Gox ended up there. Others say 80% of Bitcoin ransom (payments to Ransomware) go through BTC-e. Well the U.S. government figured enough is enough and has shut the exchange down. The exchange has promised everyone that they will be paid.

This has perhaps put some people on edge, as they are worried another exchange will shut down. Many people openly worry about polo, which was offline a few hours earlier this week.

However, perhaps this worry is unwarranted. At least there is a reason it might be less than it was a few days ago. With the BCC split, many users took their crypto off of exchanges. This, in a way, audited these exchanges to see if they really have enough crypto to cover an increase in demand, and it seems like they passed. So perhaps things are a tiny bit safer than before.


Here you can even see the still seized website. Also here is another update by coindesk.

Don’t forget to check out my faucets for my favorite faucets! Get some of your own bitcoin and other coins!