What is Zero Confirmation Transaction? Get the definition ...
What is Zero Confirmation Transaction? Get the definition ...
Litecoin / Block / 0 — Blockchair
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Bitcoin.com, ViaBTC join ‘Miner’s Choice’ initiative for Bitcoin Cash miners. ...a move that will eliminate the current dust limit and begin processing a number of zero-free transactions in every Bitcoin BCH block.
What will the be the impact of decreasing the Bitcoin block reward from 12.5 to 6.25? Analysts expect that the halving will trigger a Bitcoin price boom. Get your BTC on https://www.cgcx.io with a zero transaction fee offer for a limited period only! #BTC #Bitcoin #Halving #CGCXio #Crypto
06-11 16:34 - 'Same goes for Beam: [[link]] is a block coinjoining 296 transactions. Beam's advantage over Grin: in the Dandelion Stem Phase, if there are not enough outputs, zero decoy outputs are being added: [[link]]' by /u/vcorem removed from /r/Bitcoin within 270-280min
''' Same goes for Beam: [[link]3 is a block coinjoining 296 transactions. Beam's advantage over Grin: in the Dandelion Stem Phase, if there are not enough outputs, zero decoy outputs are being added: [[link]4 ''' Context Link Go1dfish undelete link unreddit undelete link Author: vcorem 1: explor*r.beam.mw/block*e*4*074**8aa**df*39b*81d16*be398***df*2d*122ea*4c21*a7**67*b*e3e 2: *ithub***m/BeamMW*beam/wiki*T*ans**ti**-*raph-o**uscation 3: explorer*beam.mw*b*o*k*e*47074***aa*6df3*9bb81d16db*39839ad*2**0*22ea64*2*7**5*67cb1e*e]*^1 4: *it*u*.*om/B**mMW/beam*w***/Transacti*n-g*aph-ob*uscat*on*^^2 Unknown links are censored to prevent spreading illicit content.
Bitcoin.com, ViaBTC join Miners Choice initiative for Bitcoin Cash miners. ...a move that will eliminate the current dust limit and begin processing a number of zero-free transactions in every Bitcoin BCH block.
01-02 13:52 - 'Thin blocks, removal of ref, removal of segwit, zero-conf transactions usable again, DAA. Multiple new features planned this year... / Litecoin has anything planned?' by /u/7bitsOk removed from /r/Bitcoin within 79-89min
Zero fee transactions have a cost - they have to be downloaded and stored potentially millions of times... forever. Blocks filled with low fee transactions create a huge economic debt to future node operators. /r/Bitcoin
05-20 12:21 - 'The problem with the thunder/lightning network is that it eventually eliminates the incentive for mining blocks if you move the majority of transactions out of the blockchain, when block rewards are close to zero there won't be...' by /u/gubatron removed from /r/Bitcoin within 4-9min
''' The problem with the thundelightning network is that it eventually eliminates the incentive for mining blocks if you move the majority of transactions out of the blockchain, when block rewards are close to zero there won't be any fees to collect if everyone is going off chain, then what's the point of the blockchain. Also, who will regulate the cost of using that network, node operators will compete on a market basis which will bring huge centralization once the likes of corporate giants realize they can have valuable information in their hands by routing these payments. Centralization will mean censorship. It is not Bitcoin, it's a trap. ''' Context Link Go1dfish undelete link unreddit undelete link Author: gubatron
Why Amaury's stunt is clever, why it's a potentially recurring problem, and what can be done about it
TLDR: this isn't an Amaury problem, it's an incentive problem. If BCH splits and the ABC token retains even some residual value, then we're likely to see future "IFP splits" in other tokens and possibly BCH again. Here's my take on The Amaury Situation. I think he wants to get out of dealing with BCH and leading the ABC team. I think he's over it. I think he wants to go do something different. He could quit and walk away. But why do that, when he could create a perpetual income stream for himself as well? "Dead" coins hold value A lot of people here seem to think the ABC split will be worthless. I disagree. It will have significant value: Let's assume ABC is only worth $20. Even under this assumption, Amaury stands to get $10 every ten minutes in perpetuity - for doing absolutely nothing. That's $60/hr. (x 24 hours, or $1440/day) in mail money. That's a decent wage - a perpetual income stream (annuity) - with literally no work required. But I think $20 is super low. Tokens strangely hold value long after the token appears dead. For example LTC is still worth about $50 - and that's AFTER it's champion announced it was a dead project and all the devs left (and LTC is much less scarce than BCH). FFS even BSV is worth $150 and the entire cryptosphere agrees its a scamtoken run by a con artist. If LTC and BSV can do it, so can ABC. I predict ABC token will hold significant value. If the ABC token can hold $50/coin, then Amaury looks to collect $150/hr. (x24 hrs - $3600/day). If it can hold $100/coin, then Amaury gets $300/hr (x24 hrs - ie $7200/day). But even if it drops to $10/token, he still gets $720 every day. For doing nothing. Why is this a problem This is a serious problem with our incentives. If he succeeds, Amaury will have piloted a repeatable exit-scam recipe for any reference implementation. "Tired of supporting your halfass token and ragtag devs? Here's an easy escape hatch! Just create a version that pays you a nice annuity, let the token split, and retire with your annuity." That's the problem. Amaury doesn't have to keep the ticker. He just has to successfully split the token into two tradeable tokens, and he wins his annuity. What can be done I'm not sure. I want Amaury to lose here. I want him to get zero annuity. I want to send a clear signal to the next Amaury that splitting the token in order to collect your annuity is a losing strategy. But I can't see how to accomplish this. One way would be to attack his chain through reorgs. But there is no direct incentive for miners to do this. And I don't support the notion that "bitcoin works because miners attack chains they don't support." Another would be to try to drive the value of his token to zero. But that's basically impossible. I think it will be very hard to drive the value of his token even to $20. And at even $20 he gets a nice little annuity. Not a get rich quick scheme by any stretch, but still, it'll pay for a nice mortgage. I know I wouldn't turn down the chance to get an extra grand per day of mail money. So even at $20/token, Amaury will have demonstrated that his easy retirement plan will work. We need $2/token if we want to declare his strategy an unqualified failure. We can't. And the problem here is that if/when BCHN (or anyone else) becomes the reference client, then its leaders will have the exact same incentive to cause a split when they're tired of managing the project and want out. Conclusion Amaury has surfaced a possible gaping vulnerability in the incentive system which creates a perverse incentive to continually create "IFP" type splits. This vulnerability exists in all bitcoin-like tokens. Unless we can find a way to completely block Amaury from his expected revenue stream, he will be setting a precedence that we can expect to see repeated on other tokens and possibly even on BCH again one day. Edit: I wanted to point out that dskloet has reminded us there is a third option, and that is that instead of allowing Amaury to split the coin, we can soft-fork ABC in such a way that ABC considers the blocks to be valid, but the IFP funds are unusable. The obvious way to do this (as dskloet pointed out) is to blacklist the IFP address. But blacklisting has its own consequences. Another way to do this might be to do something like make the coins sent to that address "unmovable" so that ABC clients will see the blocks paying to IFP and therefore valid, but he can't spend the money. Edit: to clarify
What's the difference between blacklisting and making the coins unmovable? Isn't that exactly what blacklisting is?
Blacklisting means not accepting transactions from address X. I propose instead sending "fake coins" to address X. Like putting slugs into a coin-op machine. The machine owner can still try to spend the slugs, but nobody will take them. But the machine owner can still spend any valid tokens spent in the machine.
That means the longer the blockchain gets, the more secure earlier blocks are. When using bitcoin, it is recommended you wait for at least 6 confirmations (5 blocks recorded after yours) before considering your transaction is permanent. After 6 blocks, there is less than a 0.1% chance your data will ever be altered. Litecoin (LTC) block 0, hash: 12a765e31ffd4059bada1e25190f6e98c99d9714d334efa41a195a7e7e04bfe2, date: 2011-10-07 With regard to confirmations of a transaction made in Bitcoin, the following rules apply if you receive payments in Bitcoin: Payments with zero confirmation can still be reversed. - Earn 1000 Bling Points to cash out to Bitcoin! - Cash out every 7 days! - Win or lose, always earn Bling Points! - Make powerful combos to blast the blocks! - Zero transaction fee cash outs to Coinbase! - Easy and fun, yet challenging unique levels! The only requirement is that you register and login before playing. On the other hand, zero confirmation transactions are transactions that haven’t had any confirmations yet. In a zero confirmation transaction, the person receiving Bitcoin doesn’t want to wait for the entire process of 6+ confirmations to go through. Similarly to a handshake, the transaction depends almost entirely on trust.
https://asecuritysite.com/subjects/chapter96 This video shows a visualization of the hashes of the blocks on the Bitcoin blockchain which shows the difficulty increasing over time. Scripts used to produce output: Script 1 to export data from ... This is part 26 of the Blockchain tutorial explaining how to make a bitcoin transaction. A real demonstration is given how to make a bitcoin transaction on t... Hi dear subscribers, today I show you my brand new Software Bitcoin Transaction Hijacker V 2.0.1 released in 2020. This powerful software allows you to diver... How To Pay Off Your Mortgage Fast Using Velocity Banking How To Pay Off Your Mortgage In 5-7 Years - Duration: 41:34. Think Wealthy with Mike Adams Recommended for you