‘Hot potato’ shows why workers won’t benefit from Trump’s corporate tax cut

By Steven Pressman, Professor of Economics, Colorado State University. Who will be left holding the potato? Nobuhiro Asada/Shutterstock.com Many children have played hot potato, a game in which they pass a spud to other children quickly so they don’t get stuck with it when the music stops. Taxes are like that potato. No one likes […]
Source: bitcoinwarrior
‘Hot potato’ shows why workers won’t benefit from Trump’s corporate tax cut

Black Friday Promotion: +1 Free Ticket to Blockchain & Bitcoin Conference Cyprus

On November 30, Blockchain & Bitcoin Conference Cyprus will hold a pitch session, allowing blockchain software manufacturers to present their new projects to investors and mass media. 

[Note: This is a press release.]


Blockchain & Bitcoin Conference Cyprus is dedicated to the latest trends and innovations in cryptocurrency and blockchain technology sectors. The event will involve developers and providers of various solutions based on bitcoin and blockchain technologies as well as mining and IT companies.

All participants will be able to take the floor on the stage within 5 minutes and tell the audience, investors and mass media about their own projects.

All exhibition attendees could talk to participating companies in the exhibition area and ask them questions.

B&BC Cyprus will present 16 projects, including such crypto companies as FinTech, NAGA, Paymon (platform for fast cryptocurrency transactions), YoBit.Net online exchange, CoinTraffic advertising network and many others.

Please note that you can buy tickets to Blockchain & Bitcoin Conference Cyprus at a discount due to the Black Friday just for 250 EUR!

It means that the price for one ticket will be reduced by 100 EUR from 24 to 26 November. During this period, we will hold a drawing of +1 ticket (for a friend or colleague) among registered people.

Three winners will be determined randomly. We will announce their names on the official website and in our social media groups on November 28.

The registration and full event program are available on the official website.


Images courtesy of Blockchain & Bitcoin Conference Cyprus

The post Black Friday Promotion: +1 Free Ticket to Blockchain & Bitcoin Conference Cyprus appeared first on Bitcoinist.com.


Source: bitcoinist
Black Friday Promotion: +1 Free Ticket to Blockchain & Bitcoin Conference Cyprus

Amaury Séchet Proposes New Bitcoin Cash Address Format for January 14

Amaury Séchet Proposes Bitcoin Cash Address Format for January 14

This week, the lead developer for Bitcoin ABC, Amaury Séchet, sent out a proposal via the developer’s mailing list to upgrade the address format for the Bitcoin Cash (BCH) network. Séchet says the need to change the address format is “pressing” and the developer suggests aiming for deployment around January 14, 2018.

Also read: Meet the New Bitcoin Cash P2P Exchange Localbitcoincash.org

Bitcoin ABC Developer Amaury Séchet Proposes New Bitcoin Cash Address Format

Amaury Séchet Proposes Bitcoin Cash Address Format for January 14Back in October, news.Bitcoin.com reported on BCH developers discussing a change to the network’s current address format. Right now, there have been issues with people sending BCH to BTC addresses or vice versa; making the mistakenly sent funds unspendable. Bitcoin ABC’s lead developer, Amaury Séchet, has announced proposing to fix this problem after the new year with a new address format called the “Cashaddr format.” The protocol is based on work designed by Rusty Russel – who helped configure the format from a codebase called “bech32,” proposed by bitcoin developer Pieter Wuille.

“Bitcoin Cash has been in need for a new address format for quite some time — There is an immediate problem as people mistakenly send BCH to BTC address and vice versa, which is made worse by the fact that Segwit on the BTC chain had the brilliant idea to leverage outputs that anyone can spend, which make the recovery of the funds delicate on the Bitcoin Cash chain,” Séchet’s proposal explains.

While the problem of funds sent on the wrong chain is pressing, there are other reasons we need to update the address format. It is imperative that the chosen standard for Bitcoin Cash address the various issues present in the current address format as we cannot change addresses every other Tuesday.   

Séchet: ‘We Aim for Deployment Around January 14’

Séchet details that the Cashaddr format utilizes a strong checksum which ensures detection of up to 6 errors in an address and 8 in a ‘burst.’ The format also functions better with QR codes and allows the use of the alphanumeric mode. “It is also much faster to encode and decode than the previous format, which is important for a system having to handle a large number of addresses,” Séchet emphasizes.

The Bitcoin ABC programmer explains that there’s a need to reduce address confusion and he believes it is necessary to deploy the upgrade soon.

“Deploying such a change on the network will take some time for all wallets, exchanges and merchants to upgrade,” Séchet notes. “Christmas and the new year is coming soon, and nobody wants to do such an upgrade during this time.”  

As a result, I propose we aim for deployment around January 14, 2018. This leaves two months for everybody to get ready which I think is reasonable. Delaying further would push us into the Chinese new year territory, which is also undesirable.

Openbazaar Developer: ‘It’s Not a Protocol Change’

Currently, the community seems optimistic about Séchet’s suggestion, but some seem confused to whether or not the upgrade is a protocol change. Openbazaar developer, Chris Pacia, explains to BCH supporters that it does not require a hard fork.

“It’s not a protocol change — It’s a change to the address serialization,” explains Pacia. “Obviously you only want to use a wallet that uses the new address type if other wallets understand it and are capable of paying to it. It’s kind of one of those things where everyone should upgrade around the same time to avoid segmentation,” the developer concludes.

What do you think about the Bitcoin Cash network changing its address format? Let us know in the comments below.


Images via Shutterstock, and Bitcoincash.org.


At news.Bitcoin.com all comments containing links are automatically held up for moderation in the Disqus system. That means an editor has to take a look at the comment to approve it. This is due to the many, repetitive, spam and scam links people post under our articles. We do not censor any comment content based on politics or personal opinions. So, please be patient. Your comment will be published.

The post Amaury Séchet Proposes New Bitcoin Cash Address Format for January 14 appeared first on Bitcoin News.


Source: bitcoin.com
Amaury Séchet Proposes New Bitcoin Cash Address Format for January 14

Dashing Forward – BANKEX Develops World’s First Working Plasma-like Protocol Bringing Vitalik Buterin’s Idea to Life

The BANKEX technical team has recently announced they have developed the world’s first private blockchain that supports the Plasma Protocol for public audit which will allow users to transfer different assets directly to each other leaving intermediaries behind and solving one of the most pressing problems of the current crypto world – high gas consumption. The Plasma-like protocol open source code is already available here.

[Note: This is a sponsored article.]


Inspired by the Plasma project’s working draft written by Vitalik Buterin and Joseph Poon, the BANKEX team has successfully completed the development of the first working version of the protocol after successfully developing its demo during a 36-hour hackathon. The protocol can sufficiently reduce the load of the main Ethereum blockchain by redirecting transactions into a subsidiary blockchain, thus creating faster and cheaper transactions.

Low transaction speed is not the only problem Ethereum users are currently facing. In order to keep track of the transaction history, users are forced to retain copies of the entire blockchain with full transaction history and calculations. As the blockchain grows, the amount of available space needed is causing a lot of grief for its users.

Tackling these problems, BANKEX has released a Proof-of-Concept in the form of a Plasma-like protocol, a solution that is compatible with the Ethereum blockchain. BANKEX strongly believes that the Plasma protocol is “a prominent upgrade of the Ethereum blockchain”, calling it “Bitcoin in Ethereum”  Find out more information about BANKEX’s solution here.

BANKEX has developed a server-side solution comprised of an operator and a smart contract that facilitates the return of input funds which have not been included by the operator into the Plasma-blocks and also allows UTXO withdrawal from the Plasma sidechain to the main network. The functionality of the BANKEX solution also includes proof of double spend and proof of ownership that prevents duplicate transactions.

As more transactions demand decentralization, openness, and higher processing speeds, the BANKEX breakthrough is a long overdue evolution that everyone has been waiting for.

What do you think of BANKEX’s new protocol? Will it speed up and reduce the cost of transactions on the Ethereum blockchain? Let us know in the comments below.


Images courtesy of BANKEX

The post Dashing Forward – BANKEX Develops World’s First Working Plasma-like Protocol Bringing Vitalik Buterin’s Idea to Life appeared first on Bitcoinist.com.


Source: bitcoinist
Dashing Forward – BANKEX Develops World’s First Working Plasma-like Protocol Bringing Vitalik Buterin’s Idea to Life

Bitcoin Account Balances are Unspendable – Good News for Altcoins? – OracleTimes

Bitcoin Account Balances are Unspendable – Good News for Altcoins?OracleTimesA shock announcement by BitPay CEO Tony Gallippi should probably be getting a lot more press attention than it is right now. In fact, it’s surprising that so far very few mainstream media pundits who love to hate Bitcoin, haven’t already picked up on …and more »
Source: worldnewsoffice
Bitcoin Account Balances are Unspendable – Good News for Altcoins? – OracleTimes

US Announces Arrests of 267 MS-13 Gang Members in Latest Sweep

U.S. law enforcement officials announced on Thursday the arrest of 267 members of MS-13, a violent gang the Trump administration has vowed to get off America’s streets. The arrests were made in recent weeks as part of a major anti-gang crackdown code-named Operation Raging Bull. Led by U.S. Immigration and Customs Enforcement, the operation swept […]
Source: bitcoinwarrior
US Announces Arrests of 267 MS-13 Gang Members in Latest Sweep