At the latest Bitcoin network mining difficulty adjustment, difficulty fell approximately 3.8 percent from the all time high of 923233068448.90527344 to a new second highest all time value of 888171856257.32055664 today. Aside from typical variance, the possibility of some hashpower inflicting woe upon a certain altcoin and heroically repatriating BTC value may have contributed to this small drop in difficulty.
Category Archives: Bitcoin
Barry Silbert Picks Block 494784 For Altcoin Exodus From Bitcoin
Barry Silbert's altcoin forking effort, which is just as marginal and fringe as Roger Ver's,1 has selected block 494,784 for their exodus from Bitcoin. The new altcoin has pledged of support from the 50 plus sybils of Barry Silbert's "Digital Currency Group".
We are Barry Silbert for your loss.
Dollar Malaise Continues, Now Under 1/4000th Of A Bitcoin
The malaise afflicting the dollar and other national fiat currencies continues with the United States dollar falling under 1/4000th of a Bitcoin. Further drops are likely as panic selling begins. This decline appears to be terminal. Sorry for your loss.
Bitcoin Network Mining Diffficulty Up ~7.32% To Another All Time High In First Adjustment After Roger Ver-ified Fork
Mining difficulty on the Bitcoin network has increased from 860221984436.22229004 to 923233068448.90527344 for an increase of approximately 7.32 percent to a new all time high. In this adjustment period a hard forked altcoin separated from the Bitcoin network to zero meaningfully apparent impact on Bitcoin mining, a 7-ish percent increase of mining difficulty to a new all time high is a very typical . Meanwhile, the altcoin is wrestling with its own precarious difficulty situation.
US Dollar Hits New All Time Lows Against Bitcoin
The United States dollar has fallen to less than 1/3150 th of a Bitcoin in the wake of fiat interests' failure to gain any traction for their forked off altcoin. This a new all time low for the dollar on fiat centric fiat/BTC interfaces.
Coinbase Begins Trading Vacation With "Your" Coins Early
Mtgox Coinbase employees have started their planned trading vacation this weekend instead of waiting for their intended start date of just before August 1st. Mtgox Coinbase has posted a cryptic status message stating that their withdrawals may be "delayed by up to 12+ hours" (archived). The notation "+" signifies an indefinite addition to the number that precedes it, and for this reason we are deeply Sorry For Your Loss.
Bitcoin Network Mining Difficulty Continues Climb, Up ~6.92 Percent To New All Time High
Today, Bitcoin network mining difficulty climbed from the previous all time high of 804525194568.13183594 to 860221984436.22229004 for a new all time high for an increase of approximately 6.92 percent.
BTC-E Down Owner Appears Headed For USG "Coke Machine" Treatment As Fiatist Thefts Continue
Long time semi-independent fiat/Bitcoin interface BTC-E has gone down with its apparent operator captured by USG and Greek pederast forces. The Stasi's press representatives are alleging that BTC-E laundered 4 billion United States dollars since 2011, this is in spite of BTC-E trading multiple tokens in addition to Bitcoin with one of the most volatile being the United States dollar. This suggests the Stasi pulled the 4 Billion dollar figure out of someone's ass to defend their favored scamcoin's honor.
This move follows the death earlier this month of Alexandre Cazes, the alleged proprietor of AlphaBay, who appears to have been killed by one of the Stasi's attempts to capture Bitcoin value via the "coke machine" method. Perhaps the Stasi feels that partnering with the Greek pederasts, with their legendary Hellenic loving touch, might give this latest captive enough life to spit out the private keys.
Miners Signal Segwit Via BIP 91 "Lock In" Avoiding "User Activated" Fork
Miners on the Bitcoin network signaled that they would begin enforcing a new set of block acceptance rules concerning the handling of "anyone can spend" transactions, commonly referred to as "Segregated Witness". For users of the actual Bitcoin system and actual Bitcoin software, this news comes with the usual "soft fork" related increase in the risk of chainsplits and orphaned blocks. For users engaging in fringe behavior on the Bitcoin network and seeking to abuse the new "rules" surrounding the "anyone can spend" edge case, there exists incredible potential1 for "your loss".
This move by Bitcoin miners circumvents an effort advanced by assorted social engineers to attempt enforcing this new "anyone can spend" ruleset through a loud tantrum. It remains to be seen how large a pile of coins the brave and the duped are willing to amass under "anyone can spend" conditions in order to tempt miners to abandon this new "soft forked" ruleset.
From Qntra, December 28th, 2015
The chief idiocy in the Blockstream camp is that if miners decide to stop enforcing the "soft" forks that Blockstream needs, the miners are somehow on "invalid" chains. Soft fork enforcement is nothing more than a courtesy extended by miners. Should miners trigger activation of segregated witness, and a super majority of miners later decide to stop enforcing its rule set, Blockstream is out of luck. Luke-Jr's protests about the "valid" blockchain would be as impotent as his protests about the valid Pope. So long as the longest chain that wins verifies on the actual reference Bitcoin client, life goes on.
There are hazards to artificially trying to introduce new levels of trust to a system that doesn't require it. Softforks that explicitly create an incentive for their own revocation create an extraordinary moral hazard
Bitcoin Network Difficulty Spiked ~13.53% This Week
This week a Bitcoin network difficulty adjustment took the mining difficulty from 708659466230.33203125 to 804525194568.13183594 for an increase of approximately 13.52 percent. This is an all time high mining difficulty, and it comes on the heel of last adjustment's ~0.43 percent drop to the the then second and now third highest mining difficult in the history of Bitcoin so far.