Council Post: The Problems With Bitcoin And The Future Of ...
Council Post: The Problems With Bitcoin And The Future Of ...
The biggest problems of Bitcoin that people are not ...
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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
/btc was created to foster and support free and open Bitcoin discussion about cryptocurrency, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin and cryptocurrency leaders. Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever. Learn more about Bitcoin, Bitcoin Cash, cryptocurrency, and more.
For discussion about Litecoin, the leading cryptocurrency derived from Bitcoin. Litecoin is developed with a focus on speed, efficiency, and wider initial coin distribution through the use of scrypt-based mining.
07-03 11:55 - 'Bitcoin problems' (self.Bitcoin) by /u/daniel446 removed from /r/Bitcoin within 4155-4165min
''' The most critical flaw in Bitcoin is its lack of privacy. If you give me your Bitcoin wallet address so that I can send you a payment, you immediately compromise your privacy. I can see as a matter of public record how much money you have in your Bitcoin wallet (there are messy workarounds to attempt to fix this problem, which we will address shortly). The same situation applies even if you are the one sending Bitcoin. Any recipient can then see how much money you have in your Bitcoin wallet, both now and in perpetuity. To understand how critical this privacy problem is, consider the following scenarios:
You are travelling through parts of a country with a medium to high violent crime rate. You need to use some of your Bitcoin to pay for something. If every person you transact with knows exactly how much money you have, this is a threat to your personal physical safety.
You are a business that receives a payment from a supplier. That supplier will be able to see how much money your business has, and therefore can guess at how price sensitive you are in future negotiations. They can see every single other payment you’ve ever received to that Bitcoin address, and therefore determine what other suppliers you are dealing with and how much you are paying those suppliers. They may be able to roughly determine how many customers you have and how much you charge your customers. This is commercially sensitive information that damages your negotiating position enough to cause you relative financial loss.
You are a private citizen paying for online goods and services. You are aware that it is common practice for companies to attempt to use ‘price discrimination’ algorithms to attempt to determine the highest prices they can offer future services to you at, and you would prefer they do not have the information advantage of knowing how much you spend and where you spend it.
You sell cupcakes and receive Bitcoin as payment. It turns out that someone who owned that Bitcoin before you was involved in criminal activity. Now you are worried that you have become a suspect in a criminal case, because the movement of funds to you is a matter of public record. You are also worried that certain Bitcoins that you thought you owned will be considered ‘tainted’ and that others will refuse to accept them as payment.
I sent BTC to my cashapp wallet yesterday afternoon, after looking up the wallet address on blockchain i can see that the transaction went through but i still have no BTC in my wallet 12 hours or so later, i sent an email to support with no reply yet, hopefully can get some help here seeing how over 1000 dollars is missing now....
Am I the only one whom this happens? When I set my mining pcs up, and I leave them alone until the end of the session, sometimes I get random quantity of bitcoins, like 2.8 instead of the usual 5 and something. This happens even if I withdraw bitcoins mid-session, and then come back after, I find different values than the expected
Peter Schiff's lost bitcoin problem solved. Admits mistake: He confused his app pin for his password: his wallet was never corrupted. However, because he does not know what his password is, he has lost access to his bitcoin nonetheless.
Any bitcoin purchases I try to make fail UNLESS they're under 200 dollars, and even then it's mostly random. Here are some examples, both failed and successful: 1800 - failed 480 - failed 195 - succeeded 250 - failed 100 - succeeded 145 - succeeded 125 - failed 135 - succeeded 100 - succeeded In total, I was able to purchase about 770, but now everything I try fails, even 20 bucks. Why does a 250 fail, but then multiple transactions over 100 succeed? And why am I now unable to purchase ANY amount? It's so... RANDOM. This account is only a couple of weeks old, and has only ever had one withdrawal to my personal wallet. I understand accounts can get flagged if they're being used for questionable activity, but that's not the case here. I've also done every verification possible, with no issues. The payment source is my bank - I've verified that this is not getting refused there. I've tried on other wifi networks, over my cell service, on another device, etc. u/CashAppAndi - What can I do to find out what's going on with this? I can send you a DM with my cashapp info if you let me know someone can look into it. Edit: Now I get "Sorry, you've reached your daily limit of purchases". I only had 5 or 6 successful transactions, so I assume this is counting all the failed transactions as well.
Nobody blames a currency when criminals launder money, but if they used BitCoin suddenly it’s a BitCoin problem
The same happened to the internet. If someone was murdered by someone they met on the internet, media blames the internet. 20 years later people are over it because they all use the internet now. Will we ever get impartial news? When are people going to stop forgetting society always does this? Edit: I mean currency as a system (USD, not cash) Edit: I don’t have the headspace to fuss about capitalisation anymore sorry folks, if it’s not Github it’s GitHub, BitCoin, Bitcoin, whatever, you understood the message
CASHAPP and buying bitcoin (problem that is making me BRM)
Hey guys . So I always make purchases with my cashapp account with no problem whatsoever. I went to try and buy some bitcoin and the app ALWAYS says transaction failed, without giving me any sort of reason why. I have a legit bank card that is VISA and also debit, so the money is 100% on there , always. Can anyone explain to me why the CashApp all of a sudden now wont let me buy bitcoin? thanks cuz I am BRM. *Surreal (Note: BRM is short for blood red mad. )
So a couple weeks ago I downloaded bitcoin core because all my resources said it was the best. I, not knowing it didn’t sync yet, sent my bitcoin to it and then realized after that it didn’t sync, and won’t sync. I deleted everything off my computer to see if there would be enough space for it and it didn’t work. Then I researched and saw somewhere how to transfer the funds to electrum. I just did that and in Electrum it says it is “watching only” so I can’t use the coins. How do I fix this? I really don’t want to lose all this money and I just want to figure it out, I’ve been dealing with this for 3 weeks now please help me!!
There are a couple of conflicts to resolve which will speed up the writing of the actual White Paper on this and then the working code. Also the Network Configurations for a Distributed Server Network . Note: This idea can be implemented on a new Blockchain which is much different from anything tried so far, with the Blockchain just storing data in a Untampered form and not required for sub-nodes to operate properly. The System will eventually reside on a new satellite network with restricted access and ultra-low latency. An optical connection will connect the nodes in orbit via microwave transmission and also to ground nodes, a block being formed from all transactions available within the time to send a signal around the Earth via the three space nodes. The SPLIT WALLET will not ever contain unencrypted private keys, i have a correction here to what I have written previously. The Private Keys will always be encrypted by the System Master Key. The Keys will also always be encrypted by the customer receiving them's Public Encryption Key. Note: even if the device is hacked and the System Master Key exposed ( which will be made impossible by technical design factors) the key revealed will be the Public Key of the Master Node which can only be used to send the bitcoin in encrypted form to any node. The only node which will be able to De-Crypt the System Key will be the System Node which will be on the satellite network. Thus customers will only posses an encrypted version of the Bitcoin private keys associated with their device, and will not be able to spend the bitcoin outside the network without going through the Main Node. Apon request the FAST BITCOIN will be sent to the customer over the regular bitcoin blockchain or mailed out as physical bitcoins.
But what is interesting is that there are additional and bigger problems specifically with regard to Bitcoin. First, Bitcoin has a limited number of “coins” that amounts to 21 million BTCs ... Bitcoin’s halving, its third, on May 11 2020 put it back in the news – as if it’s ever far away – and means Bitcoin miners now receive 6.25 bitcoins. We decided to use this event as an opportunity to remind ourselves of the fundamental tenets of this cryptocurrency phenomenon, and the problems that it solves. Bitcoin addresses global problems in a way that is accessible only to a few. This is due to its technical design as well as its current political story (see problems #4, 6 and 8). Bitcoin climbed to new highs during the past 12 months. However, there are still many concerns, threats and problems which it has to overcome to excel further. Recently, Tuur Demeester (Economist & investor, Editor in Chief at Adamant Research. Mostly Bitcoin), shared a tweet and pointed out his discussion with Mike Hearn about the biggest […] Martin Lewis' Bitcoin warning revealed: 'You could lose everything!’ MARTIN LEWIS' advice on finance trends has proved crucial for many in the UK - and he issued a warning against the dangers of ...
In this video of Let's Invest we explore the problem with bitcoin and the problems with proposed solutions of segwit and bitcoin unlimited. We explain the cons that are built into bitcoin's code ... Bitcoin so sicher wie nie verwahren - https://amzn.to/2JVWhkD Alle 60 min kostenlose Bitcoins bekommen - http://bit.ly/2XeWKX3 -----Mehr inter... Bitcoin may be doomed to failure as the blockchain struggles to scale up; Professor Ross Anderson from the University of Cambridge explains. EXTRA BITS - Bit... Bitcoin has had a turbulent year, and it looks like the problems are refusing to go away; is Bitcoin a currency or a commodity? Watch The Entire Crypto Daily... Bitcoin Problems - Duration: 8:18. PensionCraft 4,781 views. 8:18. Robert Kiyosaki 2019 - The Speech That Broke The Internet!!! KEEP THEM POOR! - Duration: 10:27. ...