Bitcoin Cash (ABC) ahead, more hash power, more activity, higher price. 4x higher price (margin). Seems like a win for BCH. Jihan Wu and Chinese miners not even needed. Certainly not enough for a 51% attack on BCH. BSV nodes reportedly crashing. Faketoshi lost, community won
How can 1 Active wallet Node "Restart" bitcoin? What is Bitcoin? How is it secure? What Power do I have? - These and other questions from all communities addressed by me.
Hello. I have been over in "other bitcoin communities" trying to help people understand why Bitcoin is amazing and help them understand that they do in fact have power over their money, as do you. If you are also interested I encourage you to have a look. My write ups are here, I tried to include the responses I made for the most common questions in my documents. "Bitcoin Miners both useandmine Bitcoin. Miners must Build a chain for the users (themselves)." "I am still confused how you think one miner cannot just make 𝘦𝘢𝘤𝘩 of their asics a node and then 𝑏𝑒𝑐𝑜𝑚𝑒 theBitcoin network.. This is because Your Active Full Wallet Node has a cryptographic chain that miners must build for." I did post this before, however it was removed. I have re-posted as I think it is important.You are welcome torespectfully disagree. :) Itisdisjointed, however the main post(All Active Nodes)is not, and I then just try to address the biggest questions I received about it in more medium posts. Thanks!
Bitcoin is secure because of the accumulation of proof-of-work, which in turn is secure because of the incentives for miners to not do weird stuff.Wallet nodes have nothing to do with that.
... I disagree - "Active Wallet Nodes"Do in fact ensure the miner is mining a chain that you and other users agree with.. (There are many miners)
It is very possible that there are miners that agree with your wallet node and will mine a chain of blocks that satisfies your demands. However, the problem with your reasoning ("wallet nodes do in fact ensure the miner is mining a chain that you and other users agree with") is that no such causal relationship exists,
It does. Because you, and other users went to a website. They downloaded some software. They then downloaded a cryptographic-ally secured chain. A miner cant change your node. They all have to mine blocks that can be confirmed on your Active Wallet node and My Active Wallet node. There are many miners.
One website is in control of bitcoin?
The users choose which file to download.
A miner doesn't have to change your node. A miner also doesn't have to mine blocks that can be confirmed by your wallet node. There are many nodes. There are many wallets. I have read your article. The reasoning just doesn't add up.
Okay. Thank you for the comment, the users choose which chain to mine and use. Miners and users are the same. They mine and use the network. Miners must build a chain for the users so.. Miners must Build a chain for themselves. :)
That's the way Bitcoin is designed, hence the nickname Honeybadger.
:D yup “I am still confused how you think one miner cannot just make each of their asics a singular mining node and then just become the Bitcoin network.. ..This is because Your Active Full Wallet Node has a cryptographic chain that miners must build blocks for.” edit: Lots of people commenting on my writing style, saying some really nice stuff.. I am a software developer.I am not a writer or web designer. I have tried to clean it up. These posts are mainly from me attempting to explain these very difficult topics to an internet forum , or the comments I received on medium. There is voting now to make it look like it's been manipulated. I am not doing this.
Hello fellow Bitcoiners! I wanted to write down some observations I've had over the past month or so running my Bitcoin Core node. I should start off by saying that I've been running this node since December through the same ISP and hardware and haven't changed any configuration options since my initial installation. That being said over the last month or so I've seen a substantial increase in how much data my node has been sending. Prior to the past month on average I was sending probably a maybe 10-20 gigs a week whereas I'm now almost at 10 gigs a day! I've also notice that my inbound connections have jumped up substantially as well. Currently I'm at almost 100 whereas prior to the last few days I would typically have no more than 40. Has anyone out there noticed this uptick as well? Are there any theories as to why the sudden increase in traffic? Has anyone noticed this on alternate node builds as well? Thanks in advance!
Is this why Core won't implement Segwit yet? Co-Owner of Bitcoin.org: "Once Segwit support is released in the GUI of Bitcoin Core, we’ll get an interesting glimpse into just how economically active the users of Core full nodes are..."
Andreas Antonop: "Upgraded all my bitcoin nodes to 0.13.1, ready for segwit activation. I think it is a good thing, on many different levels. We can argue details, but segwit opens the door for a lot of important stuff."
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