ELI5 If bitcoins payments are traceable, them how ... - reddit

Looking for some "Unbiased" ,if possible, information regarding These forks

Good day to all, im very new to Bitcoin, (less then a month since ive read into it, well since its inception way back anyway) So I hope you wont go to hard on me, and i'd like to apologise for my English in advance since it isnt my first language. And i would like to say that i frequent (lurk) both btc and bitcoin, but decided posting my question here since after all:
"Welcome to /btc! Home of free and open bitcoin discussion"
Basically what i've learned myself after a month of research into bitcoin (more specifically mining, even more specifically mining alt coins/ethereum etc... please dont crucify me for me that. i like the idea of bitcoin) about the upcoming date of august 1st. Is that there are currently 2 main options. A soft fork bip148 proposal wich will activate SegWIt. And since today(?) a 2nd proposal, the hard-fork which will double the blocksize, and in the future has plans/possibilty's to further increase the size.
Am I correct if i say that both proposals are made to deal with the "Scaling Issue" and allow for more transactions be made in the same time scale, thus lowering the transaction costs (again im still new to bitcoin, but tried to study myself in it)
And if im correct in that asumption, that the segwit solution brings less of a solution to this scaling problem then simply doubling the blocksize (double the transactions in a single block)
Im not THAT technical, I know my way around computer hardware, but software and protocals are a different beast. So please correct me if im wrong. The bip148/segwit (I know are not the same thing, but one leads to the other) has some code or rules in it that change the way bitcoin works right? Things that are not yet tested (enough), or so ive read. And thats the reason a lot of people are opposed.
On the other hand, doubling the blocksize will instantly solve the problem with transactions(fees) bitcoin is currently facing, but this will give more power to the miners, which by itself isnt bad, because without the miners, no transactions are made, and no new bitcoins are mine. And ive read that increasing the blocksize isnt without its savety concerns itself.
Last week especially has been hard to understand for an outsider. The reason being all the shitposts I guess about GO UASF and now UAHF etc.
My real question isnt really what should I do with my coins (since I dont have any yet, nor any altcoins for that matter. Never invest into something you dont understand well enough). The real question ive had these last 2 weeks is why there is such a big split in the bitcoin community.
I get the split, different people have different oppinions and certainly different (economical) incentives to like one side or the other side of the argument. And thats where I would like to get some unbiased information on the 2 sides. Because as an outsider with no investment into crypto, so nothing to lose or gain from all of this, its just so surreal. The mixed messages are insane "hes the bad guy" "no they are" "youre both wrong, actualy he is the absolute bad guy"
What ive gathered last weeks is basically this: again correct me if im wrong.
  1. These a dude called Jihan or whatever and hes a douche? Hes the owner of a company that sells mining equipment and has ties to some large chinese mining operations that "own" most of the hashing power. That in itself isnt THAT big of a problem, although its prefered no one has a majority share in what should be a DEcentralized currency. THe realy problem is that he sells his hardware with a piece of software that boosts its hashing power by some margin (20%?) however he only gives this code/software to miners loyal to him and his cause.
This in turn in unfair to other miners, because they mine slower and get less blocks and less rewards for the same ammount of energy spend.
  1. From what ive gathered, SegWit has a new code that prevents Asicboost, thats the name right? to work thus creating a "level playing field" for the miners, leading to a more decentralized share of hashing power among miners.
I think that is basically the sentiment i felt over at bitcoin. Segwit, more then bip148, is what we need to stop this evil force from dominating all the hashpower, using a bug in the bitcoin software to gain an unfair advantage to drive out competitors, and ultimately control the market and the price for transactions.
Now over on this side of the fence, things are a quite a bit different. People are more concerned with how bip 148 and segwit will affect the coin itself, its future scaleabilty and security. And sentiment is that changing the coin without properly testing the new protocols is far more dangerous to bitcoin, and ive seen some posts in favour of the miners and their new hard fork proposal.
Most "anger" here is directed at bitcore, for a lack of better a better word the "developer" of bitcoin, for not following the whitepaper originally made. Here is where my lack of technical understanding comes into play, since i have no idea how their changes and proposals are possitive or a detriment to bitcoin, I just dont get that without some extensive ELI5. Also i dont Really understand what all this talk about signaling this or that is all about, i know its to show support for a proposal, and it could ultimately be why bitcoin splits because you need your block or node to accept that signal or else have it be ignored. But the finer workings of how much % is needed for that, or how much % is needed with miners etc, that is still unclear, and also not very interesting for me.
So a lot of text, and you might think, so uhm... what are you trying to say or ask with all of this? It comes down to how i see it with an outsiders eye who is very interested, but not blinded by one side or the other. I dont pass judgement or even have any good reason to pick one side vs another. But what i can say is this: Its clear to me that, at least on these 2 subreddits, both sides are very passionate about bitcoin, and that is something that gives me confidence in its future, and ill be sure to join you as soon as this shitshow is over. But you both have a very different look on two important issues: 1. the reason why theres memes and shitposts and namecalling going aroud: Who is the badguy. On one side you have the miners (granted, only 1 group of them controlled by 1 person/bussiness/county i dont even know what to believe anymore...) and on the other side the developers who are made out to be desecrating the Holy Book of Satoshi, better known as the white papers, i dont know how much of that is true because I lack knowledge in that area, it just sometimes sounds like a bunch of Zealots on one side, and conspiracy thinkers on the other.
I just remember back when bitcoin just saw its first inception, it was suposed to be the currency for the people, by the people. Decentralized, regulated by its users, all its users, not JUST the miners or developers or you guys, the ones owning the coins. Sharing the same dream of a global currency wherever you go you can spend and be sure your transaction is safe, so you dont get scammed, or counterfeited or whatever.
I just hope that after this is over, we can go back to talking about the good things bitcoin can bring, since im still interested in it despite all of you on the reddits (both sides) trying to persuade me to run and never look back because its just a bunch of kids who are playing with marbles worth 2.5k a pop and yelling about whos colour is better.
So btc, enlighten me with your opinions, am I mental? am i just ill infomed? am i a shill, despite not being invested in any financial manner? or am i a sane voice in a sea of madness. I like to think im something in between, just your average joe hoping to oneday have no need for creditcards paypals debit cards etc you name it i got it... and use a single currency that i can store and use safely wherever i go.
Thank you, and apologies for grammar and spelling errors, and inconsistent capitalisation of the letter i, couldnt be arsed to press shift everytime...
submitted by ApL_is_Done_with to btc [link] [comments]

[uncensored-r/CryptoCurrency] Looking for the perfect coin

The following post by pleasedoELI5 is being replicated because some comments within the post(but not the post itself) have been openly removed.
The original post can be found(in censored form) at this link:
np.reddit.com/ CryptoCurrency/comments/7x88d1
The original post's content was as follows:
I'm looking for a mix of Nano/Monero/Ethereum
Something feeless, instant, private and capable of supporting smart contracts or platform type coin
Been hearing alot about Navcoin, I might consider investing in it, but I don't like the way it's not feeless. I do think feeless is the future and i'm a big fan of Nano. Just wondering if such a coin exists.
Also alot of pre announcement threads have been posted for such coins on bitcoin talk but they mostly look like scams.
submitted by censorship_notifier to noncensored_bitcoin [link] [comments]

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[Table] IAmA: Hi, we are the Ethereum Project Team. Ask us anything!

Verified? (This bot cannot verify AMAs just yet)
Date: 2014-07-23
Link to submission (Has self-text)
Questions Answers
Can you explain a use case where Ethereum could replace something ubiquitous but kind of mundane to people's daily lives? One obvious application of ethereum is the decentralization of the so called ‘sharing economy’. Where centralized applications such as airbnb, blablacar or taskrabbit currently have a middleman, under a p2p model one would have to bring true value, not just ‘take a commission’, in order to be commercially successful. I think this will have a profound impact and disrupt the current ‘get eyeballs, figure the rest later’ silicon valley ‘strategy’.
Shared reputation systems is another one. The current centralized model of the web have my reputation in ebay for example ‘locked’ to ebay. I cannot use it anywhere else. On Ethereum, one can envisage a multitude of reputation systems, where some would be shared by multiple dapps: my decentralized ebay reputation could go towards my decentralized airbnb reputation, for example.
Another example which I think will be very interesting to follow is enabling the the ‘village’ economy to be extended to the global stage. Things such as loans backed by reputation collaterals for example, work very well in the developing world but currently present little value in say, England where we rely on credit-rating issuing centralized authorities. Decentralized, trust-less reputations systems such as the one I described above would re-enable our economies to leverage these valuable resources (ROSCAs, ASCAs or credit unions). Or, we can even envisage a mixed model where credit rating agencies would publish anonymized, surrogate keys rating for pseudonymous entities in the blockchain, existing alongside the leveraging of decentralized reputation systems.
Taking part in distributed grid computing programs, where 1 hour of cpu time is equal to one coin - directly measuring the production of clean energy at the source , rather than making approximations as it’s currently done, where for example 1 watt of solar power would equate to one coin - or taking actions in the physical world, where for example a foursquare checking would be rewarded by the issuance of a coin.
Issuing a meta coin, a trivial application which is in fact in our beginner tutorial: Link to hidskes.com
Using semi-centralized processes to issue datafeeds to the blockchain, that other contracts can read from and based their own decisions on.
What about the blockchain size? Bitcoin's one is already big (23Gb), I guess the Ethereum will be huge really fast as it contains more than just transactions. Will it be rewarded to just maintain a copy of the blockchain file? Thanks for the good work. The first one is rather straightforward: contracts and transactions will go onto the blockchain, dapps themselves won’t - they will be stored on a decentralized storage network tentatively called swarm - you can read more about this on Link to www.slideshare.net with its accompanying presentation here: Link to www.youtube.com The second one is blockchain scalability itself, because of course scalability (or lack thereof) will come into play, and will need addressing. He's a handy description of such problems by Vitalik: Link to github.com Also, again quoting Vitalik: "There have been a few ideas developed in this regard mostly in relation to Bitcoin, such as merge-mined hypercube chains, Peter Todd's tree chains idea and strategies based on advanced cryptography such as SCIP/zk-SNARK, but there is still a lot of research that remains to be done. A successful scalability solution would need to handle moving coins across different parts of the state that are stored by different entities, not sacrifice (too much) mining security, and make sure the protocol keeps working even if some data becomes unavailable. This is of course something we intend to research further.
I had an interesting thought a few weeks ago while thinking about Ethereum. DNA is a chain of information which details how to operate itself. Ethereum seems very similar in a way, unlike any other thing I have heard of. Inside the zip file will be HTML, JS and CSS packaged together and able to leverage all the web frameworks you might already be familiar with. QML apps are also possible. Javascript bindings enable communications with the underlying ethereum blockchain, which if you are a full node will be local to your computer. This presents very interesting advantages, such as the removal of the need to authenticate between dapps (your logon is your public key, which the dapps can use on the fly), and instant, reactive refreshes of the dapps data.
Does writing dapps into the chain make the size tedious? I am not elbows deep in this, so I just want to know how much of a devices resources holding this info will take in ten years? Bitcoin just transfers simple information, but as far as I can tell whole code structures are not only built in to this product, but the programs being run as well. Where am I off? We foresee the dapps front end as .zip files being carried across a decentralized storage layer, called swarm (our swarm, not the crowdfunding project). They will be discoverable through the aforementioned EtherBrowser, and technically, ‘bookmarked’. In terms of scalability, keep in minds the dapps themselves are not located on the blockchain, but in the zip files, and distributed via swarm, and communicating between each other via whisper, our messaging layer. Only the dapps contracts will be stored on the blockchain. You can learn more about this mechanism in Gavin Wood’s recent London presentation at: Link to www.youtube.com
It's said that Turing completeness isn't actually Ethereum's most important feature -- it's that fact that you can hold arbitrary states. Adam Ludwin @adamludwin did a wonderful job at covering this in his blog post here: Link to blog.chain.com by explaining that ethereum was “generalized Bitcoin.” However, here’s my take on it: the really important thing about bitcoin is not its price, or its volatility, but the fact that by being decentralized, your bitcoins are yours to keep, and yours to lose. No bank can ‘freeze your bitcoin account’: you stay in control. This is because bitcoin operates under a model of decentralized consensus at scale, the blockchain. By being turing complete, ethereum extends this concept to anything that can be mathematically represented, not just currency. And by abstracting these complex cryptographic concepts behind a straightforward javascript API, ethereum makes it possible for any web developer to build blockchain-based dapps (decentralized applications). Lowering the barrier to adoption in this context will accelerate innovation as developers will be able to experiment easily on our platform, and focus on delivering great applications experiences, not fiddle with technicalities.
Can you explain this a bit further? eli5 if you can in context of bitcoin. thanks and congrats on presale!
What's the best way to learn how to write software on the Ethereum platform? Ethereum Dapps (decentralized apps) comprise of two parts: a front and a backend. The frontends are build in HTML or QML, and interact with the backend using Javascript bindings. If using HTML, this is no different from writing a traditional web application and all the usual web frameworks can be leveraged (bootstrap, etc).
The backends are written in high level languages that compile down to EVM code (Ethereum virtual machine code). These are Serpent (Python-based), Mutan (Go-based) and LLL (Lisp based). They should be familiar to any developers that are already familiar with the parent languages.
We will be issuing tutorials, and a code-academy type site once the codebase has stabilized, alongside extensive documentation.
I’ve written an FAQ here: Link to forum.ethereum.org
It seems to me that for something to be truly decentralized it has to be equal. And for something to be truly equal, then it has to be based upon something similar to a 'one person, one vote' system. Ethereum itself does not ‘solve’ the problem of ‘one person one vote’, as ethereum is pseudonymous and decentralized. It does not - and will not - contains any identification verification systems out of the box (thank god).
I cannot personally think of a way to create a system that truly verifies if someone is an individual. I have heard other developers call this 'proof of human' or something similar to that. However, it enables the development of such system, should a dapp developer decide to implement it for their own community on a voluntary basis. One very straightforward solution would be to leverage 3rd party existing ID verifications systems. Dapps are HTML or QML, so they could make a call to a webservice that validates the user ID, and the server that does the validation would then feed a contract matching a public key with a validation token.
Do you have any ideas for how Ethereum could solve this problem? Applications that want to leverage this ID system could then just query the ID verifcation contract, check the public key of the caller against it (for a fee I imagine), and proceed based on if they found the token or not. Voila.
Question from my mom: Would you be able to create a contract to facilitate a divorce? It would leave no room for ‘interpretation’ fueled by emotion in front of a lawyer. Code is code.
It would execute fairly, and immediately, with no room for collusion or corruption.
Here’s a simplified video example of what a marriage contract could look like: Link to www.youtube.com
Here’s a good discussion of one approach to legal contracts on ethereum, and translating contract terms into code: Link to www.linkedin.com
Can we mine ETH? ASIC or graphic cards? Ether is mineable yes. The consensus algorithm has not been finalized yet, but we are aiming to prevent centralization by making it difficult to ASICify (is that a word). Two options we are considering are 1) randomized hash function every thousand nonces as suggested by vladzamfir or 2) turing completeness of the algo itself. We are also considering a hybrid PoW/PoS model.
So to answer your question: CPUs.
Hey guys! I've been following Ethereum for a few months now & I'm really excited about ether and the future of decentralized systems! I may be saying this wrong but my question is: Are there developers lined up to make applications for the end user in regards to your smart contract protocol? There are several teams already building dapps on top of ethereum, including airlock, bitvote, cryptoswartz and project Douglas (who originated Link to eris.projectdouglas.org.)
I’ve interviewed some of them on our youtube channel. Here’s the playlist: Link to www.youtube.com
Let's not forget the most excellent CubeSpawn: Link to forum.ethereum.org
Is the amount of ether to be mined post sale still 26% per year? Will this change depending on how many are sold and distributed to contributors and early investors initially? The annual target rate of new ETH creation will be set to 26% of the Genesis Sale Quantity of ETH. Nothing will change that, it's in our T&Cs (Link to www.ethereum.org) Note that it's 26% of the Genesis Sale Quantity of ETH, not of the total every year.
Here's a handy graph: Link to i.imgur.com
Do you expect that the "EtherBrower" will eventually be included in regular browsers using extensions or the like? That would be sweet. The EtherBrowser will initially be a standalone app - here’s what it could look like: Link to i.imgur.com
Remember, all it is is a discovery mechanism for dapps with javascript bindings baked in to ‘talk’ to the underlying blockchain. It certainly could be build on something like Google Native Client or similar.
How many hours a week have each of you been putting into ethereum-related work? I wake up, I work on ethereum. Eventually I go to sleep.
Rince/wash/repeat since January, every day. I love it, my wife much less so :)
I love it, my wife much less so :) I love it, *I love my wife much less so :) * Haha please don't let her see that :)
Can you explain what Ethereum is and what it does in a brief statement using non-technical language? Thanks. "Ethereum is the web, decentralized." <- quote from a twitter user who's name I forgot.
Wake up, open laptop, code, eat, code, sleep 8 hours, repeat. I lost track of how many hours :) Slacker!
Last updated: 2014-07-28 01:01 UTC
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