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Qntra - Herald Of The Most Serene Republic |
Bitcoin network difficulty went up 1.88 percent from 209453158595.38098145 to 213398925331.32391357 today. This is the last difficulty adjustment before the mining subsidy is cut in half at block 420,000.1 At press time we are at block 419376. Tick, tock, tick, tock!
It also coincides with the anniversary of the BIP 66 Clusterfuck event. Imagine that. Bitcoin has enough history for major "This day in history" type events to begin filling up a calendar. ↩
One year ago the BIP 66 clusterfuck happened. The chainsplit following the "activation" revealed that many miners were using simplified (and dysfunctional) chain verification, which led to abundant lols and chain splits. Turns out "soft" forks aren't all that soft! More splits happened after the initial split that inaugurated the clusterfuck, and they happened for the same reason. Never forget!
This past week supporters of the failed ClassicCoin coup attempt have attempted to socially engineer a fresh round of buzz for their failed effort. They are referring to their latest effort as the "Terminator Plan" which supposes that somehow people are going to switch en masse to their stillborn and irrelevant ClassicCoin client from the moribund and also irrelevant "Core" fork of the reference Bitcoin client.
This time the fork effort had still less fanfare than the original ClassicCoin announcement, just as the ClassicCoin announcement had still less fanfare than the XTCoin announcement which preceded it. The sudden push for the "Terminator Plan" in addition to being exactly on schedule has arrived swiftly after the effort to suppose Bitcoin could be replaced with the ether huffing habit effectively ended.
Discussions taking the "Terminator Plan" seriously have been absent from venues engaging in actual economic activity involving Bitcoin. Most discussions have been limited to English language outlets controlled by Roger Ver1 (WOT:nonperson) and Chinese language outlets similarly removed from actual economic activity despite occasional appearances by miners.
Meanwhile the price reported by fiat/Bitcoin interfaces remain above where it was when the ClassicCoin coup was defeated, which is above where it was when the ClassicCoin Coup was unveiled, which is above where it was when the XTCoin coup was defeated, which is still further above where it was when the XTCoin coup was unveiled.
Beyond all this drama and distraction the miner subsidy halving looms and the economic deterrent to unwelcome forks abides. Sorry for your loss.
Who notably is no longer unable to travel to the United States. As Roger Ver did not arrive on a ship and take the place over, it is probably he made one or more deals with people. ↩
The Bitcoin network mining difficulty moved up nearly seven percent from 196,061,423,939.64996338 to 209,453,158,595.38098145 crossing two hundred billion and setting yet another all time high. Since we last checked in on prices reported by fiat/Bitcoin interfaces, it now requires another 200 more dollars to acquire a single Bitcoin. The long awaited end of the cheap Bitcoin appears to be nearing. Cheap ether however remains available at your local automotive parts store, look for cans labelled "starting fluid" though Qntra recommends against huffing the sweet vitriol. Sorry for your loss.
I (wot:mod6) deployed an IRC implementation of "T" – a ticketing system (descending from a command line version published earlier last month) for projects originating from The Bitcoin Foundation and The Most Serene Republic (TMSR~).
Since the Founding of The Bitcoin Foundation and for many years previous; The Republic has tracked proposals of all forms through logging of the assembly chamber, #trilema.
Throughout these many months it has become increasingly difficult to track all of these items. The Republic has been in need of a means to track them all.
With the deployment of tb0t (WOT:tb0t), Bitcoin Lords may now leverage this system to track their projects, corresponding work, and related tasks. This is important for a variety of reasons: tickets can be described in detail and isolation; avert archaeological digs; connect together in Antecedent/Dependent relationships; graph directionally, and viewed on The Foundation website; projects rendered and viewed as a whole broad visionary scope.
Viva La Serenissima!
In its march to cross 2 trillion Bitcoin network difficulty has decreased by 1.63 percent from 199312067531.24301147 to 196061423939.64996338 during its latest adjustment. The next mining subsidy halving is still on schedule with all of the chaos that entails. Expect anything,1 but it is likely that weaker miners will continue getting squeezed out with only small temporary dips in network hashrate. Weakening fiat markets in China and the fresh constraint on new coin market entry are likely to lead the way at fiat/Bitcoin interfaces with the weaker and more fraudulent fiat/Bitcoin interfaces potentially getting squeezed as well in the manner of Mt Gox. Sorry for your loss.
Due to the likelihood of intensified fraud on the fiat side all manner of short term trends are possible. ↩
The recent spread event between Chinese and other fiat/Bitcoin interfaces which took the price of the United States dollar to nearly a two year low versus Bitcoin has settled with the interfaces reporting roughly a hundred more United States dollars required to acquire a Bitcoin than it did one week ago. Up until this latest Chinese run the number of dollars required to get a Bitcoin had been remarkably stable in the 400s ever since they were remarkably stable in the 200s. Forecasts place the next subsidy halving just 39 days into the future which is likely to place further financial strain on the mining sector. As always Qntra recommends HODL as the best course of action for your psychological, spiritual, and financial well being. Sorry for your loss, but this halving train is a coming round the bend.
Today Bitcoin network difficulty hit 199312067531.24301147 putting it near 200 billion after a 2.6% rise over the previous value. Current estimates still put the next halving sometime near July 10th, 2016.
For the second time in 2016, the Bitcoin mining difficulty has dropped: this time, to 178659257772.5273, merely one basis point below the previous value, and leaving the network hashrate estimate unchanged at just below 1.3 EH/s.
Phuctor, a public service operated by No Such lAbs has returned with vastly improved hardware and software. In addition to a quarter terabyte of RAM and better software, an all new "braindamage" section allows viewing especially retarded moduli.