The YMB Network
4 stars based on
56 reviews
Stream this podcast episode: Exploring the Various Forks of Bitcoin. A wise man once compared Bitcoin to the Model T Ford. The ancestor of the modern day automobile, the Model T lacked any safety features, was difficult to navigate, free download bitcoin irs taxes and coinbase mp3 horrible mileage and offered far less comfort than its modern day counterpart.
And just as the subsequent automobile models aimed to improve upon free download bitcoin irs taxes and coinbase mp3 flaws of the Model T, so do the various forks improve upon those of Bitcoin. In fact, some forks can deviate greatly from Bitcoin and some can be merge-forks with other cryptocurrencies.
There are over two dozen or so Bitcoin forks to date, with more to come this year. This is by no means a comprehensive list. Frankly, not every single Bitcoin fork is worth writing about. Some will be only briefly mentioned. And the ones that are based on extraordinary projects or mass market adoption will be described in length.
Since the forking of Bitcoin Cash BCH last year, by far the most well-known of all the Bitcoin forks, roughly 20 forks have been created. Though BCH is not trading anywhere near BTC, the comparison between the two coins is interesting, as illustrated at TX Highwaya live side-by-side representation of the two networks.
The runner up for most well-known fork is Bitcoin Gold BTG has been designed with the little guy in mind. Their development team is also working on integrating smart contracts and the beta version of BTGPay, an e-commerce platform and debit card centered around the cryptocurrency.
The BCD Foundation insists that the larger max supply of BCD is intended to make mining it easier, thus lowering the bar to entry for small-time miners.
As the Bitcoin network becomes more congested with increasing trade volume, its 1MB block size limit and its block interval time of 10 minutes that is, the average amount of time it takes for a new block to be foundcreates a very obvious bottleneck resulting in higher transaction fees and longer confirmation times, bringing confirmation times to a grinding halt.
Many of these forks have come into existence to offer a solution of their own to the sluggish design of the Bitcoin network. If hash power decreases significantly for a network and the difficulty for mining is based on when the network previously had more hash power, then it will take longer for the blocks to be mined, thus contributing to the speed or lack thereof for confirmation free download bitcoin irs taxes and coinbase mp3.
Bitcoin is designed to change its difficulty rate every two free download bitcoin irs taxes and coinbase mp3, which can be a severe drag on speed if the rate of hash power fluctuates every day or even in a few hours.
Interestingly enough, almost all of free download bitcoin irs taxes and coinbase mp3 forks will integrate or already integrated the Lightning Network. The public viewability of all Bitcoin transactions have raised concerns among privacy advocates for some time. Bitcoin Private employs zk-SNARK or zero-knowledge proofs to ensure that transactions can be fully encrypted on the blockchain, yet still be verified as valid. Otherwise, Bitcoin Private has all the other familiar aspects of the original protocol.
Bitcoin Faith BTF is in the process of implementing zero-knowledge proofs proofs to shield their transactions from prying eyes. A few Bitcoin forks are built around proposed innovations which, if successful could revolutionize cryptocurrency.
One such fork is Bitcoin Atom BCAwhose underlying technology is based on the theory of atomic swaps. This allows for the swapping of cryptocurrencies without the use of a trusted third party. This proposed technology involves the use of smart contracts to make the exchange. The theory is that crypto that is sitting in one place as opposed to being traded back and forth will reduce the overall volatility of the crypto market.
If this technical innovation turns out to work, we just might be looking at the beginning of the end for traditional banking. Imagine cryptocurrency being transferred without access to the Internet! It would be akin to the first mammal crawling out of the ocean. As the Bitcoin code base continues to evolve, one might wonder which forks will survive, which ones will wither away and perhaps even, which one will replace Bitcoin. The forking of Bitcoin free download bitcoin irs taxes and coinbase mp3 lead to something as revolutionary and groundbreaking as the invention of the blockchain itself.
We last spoke with Dr. Julian Hosp back in June of prior to their 36 minute token sale sellout. So much has happened since then for both TenX and the crypto-scene overall. We discuss some of the changes and challenges facing TenX as well as the growth and successes. Julian published a book as well. Nasdaq CEO talks crypto exchanges once the space matures. Amazon has won a patent to help law enforcement and tax authorities track your Bitcoin transactions.
Coinbase shuts off service to Wikileaks Store and Cheapair. Vitalik Buterin is boycotting CoinDesk Consensys and suggests you do as well. Arizona is very close to allowing residents to pay taxes in cryptocurrency.
In this installment we talk with Mattheus! We discuss how he uses crypto in his everyday life and why New Hampshire is the place for libertarian activism. The event was sponsored by http: In this installment we talk with Marcus! He brought some stickers to the event to sell following the news that someone out there got the image tattooed on his arm.
When one thinks of Monero, the first thing they may think of is privacy. But one thing Monero is not known for is simplicity. Even when engaging in something as basic as sending or receiving Monero, the addresses can be as long as 95 characters. The OpenAlias Project was created to simplify the transaction process for even the least crypto savvy user while adding yet another layer of privacy for both sender as well as recipient.
A specific crypto address can be found to be associated with a specific person or organization. A good example of this is an address from an account on a crypto exchange that follows KYC free download bitcoin irs taxes and coinbase mp3. The identity of the initiator of a crypto transaction may also be determined by tracking the IP address on the merchants website. The uniqueness of OpenAlias free download bitcoin irs taxes and coinbase mp3 that it is a TXT-DNS record on a fully-qualified domain name, thus taking full advantage of an existing infrastructure as opposed to building a new one from scratch.
The alias for the impossible-to-remember crypto address is a domain name, and under the Domain Name system, there can only be one domain name of its kind. In other words, there is only one http: The average person who may be unfamiliar with cryptocurrency will have an easier time remembering the domain name of their free download bitcoin irs taxes and coinbase mp3 web site rather than a character alphanumeric string.
While OpenAlias is the brainchild of the Monero Core Team, it can be configured to allow for the acceptance of any cryptocurrency.
Although to date, the only known implementation has been for Monero and Bitcoin wallets. As time passses and the popularity of OpenAlias increases, implementations should emerge for other popular cryptocurrencies.
Innovations like OpenAlias may one day make cryptocurrency as common among billions of people as email. In this installment we talk with Yury! You may remember Yury from the brief Russian version free download bitcoin irs taxes and coinbase mp3 the podcast. Yury talks about the different meet-ups in Manchester and how he fared in Russia with his bitcoin projects. Do you shop on Amazon. Want to spend bitcoin and support NeoCash Radio? Then sign up for purse using our affiliate link here: One of the great things about being in the Blockchain industry and living in NH is being able to connect with people who are the entrepreneurs and developers in this space.
LBRY allows users to own and control their content vs handing it over to large corporate entities and their advertising partners. Their code base is open source and available on Github.
There are currently 6 full time employees in their Manchester Free download bitcoin irs taxes and coinbase mp3 office and well as 15 remote employees from as far away as Brazil and India.
For most users, LBRY will be a place where they can find great videos, music, ebooks, and more. A vast digital library that is available on all of your devices. But LBRY is many components working together. Apps built on the protocol allow creators to upload their work to the LBRY network of hosts like BitTorrentand set a price per stream or download like iTunes or give it away for free like YouTube without ads.
Great refreshments was the first thing I saw upon entering! Getting back to the fun. The LBRY office had all their worldwide 21 Full Free download bitcoin irs taxes and coinbase mp3 employees working at the Manchester office for an entire week culminating in a party Friday night. Upon entering I was greeted with a large table of premium refreshments and tasty snacks from around the world. The air was thick with excitement and passion around what LBRY is doing.
The local Blockchain community came out to join in the fun. Interesting discussions all night. Brinck helping keep beverages cold! As more of the local Blockchain community arrived the party only got better. Great conversations were had and ping pong games went late into the morning hours. Did I mention there was a lot of ping pong fun? It was clear the LBRY team was having a great time. The LBRY confessional booth was available to give feedback to the team. I found an address linked to the Centra crowd sale holdingETH.
French mega-grocery Carrefour SA is using blockchain technology to show consumers where their chicken dinner came from. In case you missed it…. The original fork BCH is also the most successful to date. Bitcoin Atom BCA is based on atomic swap technology. Join us on Patreon! We want you to be a part of the community!
