To get a better prediction of UASF impact on bitcoin, I wrote a quick and dirty bitcoin network simulator, which you can find here on GitHub. After playing around with all kinds of hash rate distributions and UASF/non-UASF nodes, my first conclusion is, that there is almost no impact of UASF nodes on bitcoin, if… Read More »
Assuming you have a fresh FreeBSD (or a jail) installed, and you are logged in as root, download the latest version of BIP148 enabled bitcoin sources from here as .tar.gz file and untar it. As of writing it is v0.14.1-uasfsegwit0.3.tar.gz. fetch https://github.com/UASF/bitcoin/archive/v0.14.1-uasfsegwit0.3.tar.gz tar xzvf v0.14.1-uasfsegwit0.3.tar.gz cd bitcoin-0.14.1-uasfsegwit0.3 Next the documentation in ./doc/build-unix.md tells us which… Read More »
Bitcoin was raising, and the price for one Bitcoin is now around the same as for one ounce of gold. So isn't it insane to pay for one Bitcoin as much as for one ounce of gold? According to this article there are currently between 155,244 tonnes and 2.5 million tonnes of gold in the… Read More »
For some people it's a must-read: The Untold Story of Silk Road part 1 and part 2.
In case you didn't already know ... Did you know, bitcoin mining is basically the same as dice rolling? There are many articles for non-technicians about bitcoin mining, where the mining process is often explained as "solving complex equations". And these equations get more complex, when more miners compete, so the difficulty raises. That's wrong.… Read More »
By looking into the database leaked from Mt. Gox you will notice two obviously special users, one is "TIBANNE_LIMITED_HK", and the other is "THK". Both sold about 2.96 million bitcoins during the time period from August 2011 to the end of November 2013. They never bought any coins. Additionally they didn't pay any fees. What were those special users for, and… Read More »