Code for the Lightning network daemon has been made public for the first time on Github (archived). The daemon at present is limited to operation on its own special testnet-L where transaction ids are normalized to prevent malleability. The daemon's README warns against deploying the daemon on the live Bitcoin network or any altcoins in its present state. Blockstream's publication of this code comes as fiat concerns grow more desperate to project their own failings on to Bitcoin through their latest "ClassicCoin" forking effort.
Category Archives: News
Fiat Feeling Pain Below The Corn Belt
A movement is building in the Middle West to compel the United States Government to raise the amount of debt that qualifies for restructuring under Chapter 12 "family farm" bankruptcy terms (archived). This push comes amid widespread fear from agricultural lenders concerned that the present limits would push many of the year's anticipated farm bankruptcies into either Chapter 7 liquidation or a far more expensive Chapter 11 reorganization, alternatives which would make their receiving eventual repayment far less likely. Depressed prices for corn and other staple agricultural products in the United States along with declining export sales are leading to grim prospects for 2016 on the farm. Sorry for your loss.
Desperate Ether Huffers Turn To Spam
CoinBase Blames DDoS For Irregular Exchange Behavior
Yesterday morning after a large price decline broomstick fired partially in response to Mike Hearn's temper tantrum, Coinbase's exchange experienced a complete outage. The outage was eventually resolved and trading resumed. Brian Armstrong took to Twitter and blamed the outage on a DDoS. He is claiming the attack consumed 1 TB of bandwidth. Coinbase solicited the services of Cloudflare in late December. This mitigation service served more as a marketing tactic than as a measure to establish actual security – a lesson Coinbase seems to have yet to learn.
Fiat Market Slide, fiat/Bitcoin Interfaces Follow In Friday Trading
Robocoin/Romit Follows Hearn Out
Robocoin, former Bitcoin ATM maker, and their remittance service Romit are planning to cease Bitcoin operations. They are advertising a February 15th service end date in communications with users which suggests anything remaining on deposit with them should be withdrawn as soon as possible.
First Mass Walmart Closure
Arkansas based retailer Walmart is closing 269 stores including 154 locations in the United States. The move is expected to result in a reduction of at least 11,000 10,000 jobs in the United States (archived). Walmart has never before engaged in a mass closing of stores in its home territory inside the United States. Of all the indicators pointing to a dire 2016 for fiat enterprises this might be the most dire so far.
NYTimes: Mike Hearn "Gave Up"
Water Quality Crisis In United States Lake Region
In the impoverished United States province of Michigan, the post industrial hell hole commonly referred to as "Flint" is going through a water quality crisis. Dangerous levels of lead, iron, and other metals had been detected in Flint's municipal for months, and now there are concerns that Flint's water problems are contributing to an outbreak of Legionnaires' disease (archived). Outbreaks of disease caused by Legionella bacteria have been increasing across the United State with deteriorating healthcare facilities most frequently being affected. The Flint outbreak is exceptional in the size geographic area apparently being affected. Travellers to the United States would be prudent to avoid drinking tap water that has not been further purified at the point of consumption. Much of Michigan is surrounded by the Earth's largest system of freshwater lakes.
OpenSSH Client Bug Leaks Memory Contents
A newly revealed bug in the OpenSSH client from versions 5.4 through 7.1 allows memory contents to be read by malicious servers (archived). The vulnerability exists in code that allows "roaming" which was added to the OpenSSH client but not the OpenSSH server. Patches which remove the roaming code from the OpenSSH client are available.