/biz/ - Business & Finance

>>14704631
explain

what does it all mean?

>>14704631
Oh shit

>>14704631
Oh no no no it’s fucking over ahhhhhhhhhhhhhhhh

what da mean???

>>14704631
Explain it to a brainlet.

????????????????

>>14704631

Block-chain invalid. We won BCHads

>>14704659
It means someone managed to insert new btc into the blockchain. Basically the system is absolutely fucked.

NOOOOOOOOOOOOOOOOOOOO

NO FUCK NO SELL SELL SELL SELL EVERYTHING RIGHT NOW IM NOT KIDDING THIS IS 100% LEGIT

SELL NOW

>>14704631
Is this a FUD? Literally no other information about this except for this twitter.

Bcash successfully attacked bitcoin

NOOOOooooo why did this shit have to happen now?!

>>14704631
>oui bring out ze invalid block fud

God I love rollbacks, to all newfrens buy high risk shit or go 1000x long, if you lose doesn't matter, if you win go in tether. Chain rollback to that block I guess in 2 or 3 days from what the big guys say. Gamble till then.

>>14704727
Fuck off Arthur

>>14704727
DOES THAT MEAN I GET MY MONEY BACK?!

>>14704631
Nothingburger.
A miner tried to claim more of a block reward than he was entitled to. All the nodes rejected his block and moved on. System worked as designed.

Holy shit lol, sell now or actually suffer the consequences. You've got an hour max.

>>14704631
No it’s not retard, just a minor speed bump. The network will reject the block and a new one will be found. Just a delay

>>14704757
Riiiiiight ;)

>>14704757
You are a good anon

>>14704699
isnt it a good thing that the nodes rejected the block?

>>14704631
REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE

>>14704726
based

Just went long thx

>>14704631
Just replace it with a valid block. Boom, problem solved.

>>14704699
If it was identified as invalid wouldn’t it not be added to the chain?

>>14704792
Yes, this is the reason why the nodes agree what is good and bad, so people cant inject shit.
Bitcoin has stood the test of time, if it could be hacked, it would have been, years ago.

HOLY SHIT BITCOIN IS DEAD GET INTO ETH RIGHT FUCKING NOW

>>14704854
was the block accepted?

>>14704822
Correct and it wasn’t.

>>14704783
Seriously these fucking brainlets have no idea how the technology works.

>>14704873
Of course not.

>>14704631
Based Craig killing BTC once and for all.

So bitcoin remains the most secure network in the world, thanks. Got it.

>>14704873
Of course not why would it?
> Here is my block. My block reward will be 100 million bitcoins ahahahahshaha!
> bitcoin nodes: fuck off jason

Please tell me you're all b8ing.
You genuinely don't understand the most basic aspects of how Bitcoin works?

>>14704874
>>14704893
Then why the fuck is even news?

>>14704908
>>14704893
ok thats what i thought

>>14704976
It's not.
Someone here thinks it would be lolz to post a bot twitter post and call it the end of the world.

>>14704962
DONT YOU GET IT ITS OVER DUDE ITS FUCKING OVER WERE NOT GONNA GET RICH OFF MEME MONEY NOW TOO FUCKING LATE SHOULD'VE BOUGHT WHEN IT WAS A COUPLE BUCKS NOW THE DREAM IS DEAD FFFFUUUUUUUUUCKKKKKKK

>>14704757
Exactly this

>>14704854
Did you forget about the major backdoor that was recently discovered? You are lucky that one dev was stupid enough to disclose it

>>14704717
>successfully attacked
>recognized and rejected by 100% of nodes
nigger

>some shit happens
>all 8 nodes involved stop said shit
Well good.
What's the problem?

>>14704631
Baby's first fud. Go fud link, they're actually deserve it

>>14704631
Someone made an immense effort to produce an invalid block, but it was rejected by the network. This is why people run full nodes and is actually proof at how powerful this system is. Bullish to me.

I wouldn't be surprised if this was the work of governments or big banks trying to break faith in crypto.

>>14704962
90% of /biz/tards are high-buying low-selling pajeets. go figure.

>>14704631
But there are 10k nodes. How come only 8 of them identified the invalid block?

2020

>>14704822
Woah there now. Get the fuck out of here with your knowledge about how Bitcoin operates.
This here is a desperate BCH shill thread.

>>14704659
someone spammed blockchain but it didn't work because it's still decentralized

this attacks means XRP and other centralized shit is vaporware

>>14704822 #
>wouldn’t it not

>>14704962
I don't get why would someone make a big deal out of it to comment on twitter, literally anyone can mine invalid bitcoin block, basically someone published an invalid block that got ignored, it doesn't mean "bitcoin had an invalid block"

>>14705069
8 versions not 8 nodes

>>14705141
oh wow you got me!

>>14704757
thx bro. keep it up

>>14705069
you brainlet, he means all 8 varieties of nodes

>>14704631
is someone trying to fuck up BTC with the SegWit flaw?

>>14705141
the sentence works, try rewriting it in a way you think is correct and you'll understand

>>14704757
>A miner tried to claim more of a block reward than he was entitled to
how does someone go about doing this? i thought the rewards were untouchable and fixed

>>14705289
the way rewards work on mined blocks is that you just conjure satoshis out of thin air and give them to an address you own, you can claim 55 million BTC for your block if you want to. nobody actually hands you the reward for finding a block. it's up to the network to make sure the block is valid and doesn't add more new sats into circulation than what is allowed for that block height.

>>14705418
well i never mined btc but i mined shitcoins and they all gave fixed reward, i mean i never had any option or chance to choose a reward it was always fixed, and shitcoin mining is copied from btc mostly

>>14705543
if you can write custom code you can claim custom rewards (which will be rejected by the rest of the network, the same thing that happened in this thread)

>someone tries to fake blockchain
>others pick it up
>decentralization works
>shit keeps rolling

OMFG BITCOIN CRASHED LOL

>>14704659
>>14704664
>>14704680
>>14704681
>>14704688
>>14704706
>>14704723
>>14704790
>>14705217
Leave before you ruin your life. Clearly you don't belong here if you don't understand the absolute basics of the technology you're "invested" in. Complete brainlets. >>14704962

Antpool attacked maybe? This block doesn't make any sense, it's an empty block with a 13.2 BTC reward. Any pool would know that would be rejected out of hand immediately and wouldn't bother to waste the energy on it, only reason to issue it is to waste energy on purpose and/or play into the propaganda campaign of core about "muh evil miners reeeeee"

>>14705141
>would not it work
That sentence is oofed

>>14705289
at the end of the day you're running software my guy. if you modify it, it will still run. but, that's why we rely so much on hashing algos because they provide the data integrity needed to spot farcical transactions, activity

>>14706069
Ahh, I see now.
https://www.blockchain.com/btc/block-height/584802
This was the actual valid block for that segment of the chain, the fees are almost the same as the extra coins in the coinbase of the invalid block. Looks like antpool got fucked by not actually including the transactions that they meant to include in the block, which otherwise would've made the coinbase valid by virtue of the tx fees, and instead left the invalid coinbase reward without the fees from the txs.

>>14706258
Or, to re-state; this is a nothingburger mistake that is of zero practical consequence.

What a wholesome and educational thread.

>>14704908
>imagine getting the normal block reward of 12.5 btc denied because you did bullshit like this

>>14704757
The most "SECURE" crypto in terms of hashing power just shat the bed

>Nothing burger

You don't even understand the implications of this event

>>14706383

>>14706378
dude stop being a retard. btc is a shitty boomer coin that is doomed to eventual death and all fucked up in every conceivable way, it is sabotaged, hijacked, fatally bugged, and altogether utterly fucking useless for the original purpose, but *this particular event* says nothing whatsoever about it. It did not shit the bed in any way at all, it did exactly what it should do.

>>14704822
>make twatter showing that network is functioning correctly
>invalid junk reject across all 8 versions
80iq bizraeli retards take as total reverse. wow

>>14705814

>>14706601
i mean hes not wrong though. the nodes rejected the block and the bad acting miner got exposed. not sure what else there is to it

>>14704631
insider here. segwit fatal flaw was exploited. this is only the beginning. insiders already dumping coins immediately after this was proven exploitable

>>14705069
hE THINKS btc IS globaly distribiuted and not only controlled by a few entities.

>>14704631
OP is retarded, or just a nigger.
Probably both.

>>14704631
Does this mean bsv can win now? My bags are getting heavier by the day.

>>14704717
>Instagibbs

WE

>>14706378
>The most "SECURE" crypto in terms of hashing power just shat the bed
>>Nothing burger
>You don't even understand the implications of this event

fuck off. if it was bad it would be dumping right now back down to 3k and below

bullish, buying another 20k

>>14706813
bsv will never win. Look, here's how it goes, BTC was hijacked with a false narrative of how BTC might in future be hijacked by dramatically exaggerating the potential vulnerabilities involved if people did absolutely idiotic things with the mining infrastructure, like put it all in a single fucking data center owned by a single fucking person in a single fucking jurisdiction.
Nobody wanted to do that though, and BCH just did the obvious thing of proceeding along the original path and scaling on chain to the extent that it could be done with the actual network topology that the chain had. This pissed a lot of core cultists and general fuckheads off, so they actually supported forking BCH off into a chain that did exactly what they originally warned would happen inevitably if people didn't stick permanently to a 1mb limit. Unlimited blocks, all the miners in a single data center, in a single jurisdiction, etc.
This, obviously, was fucking retarded, and nobody at all with half a brain fell for it, but for completely cynical reasons BTC attempted to boost it simply because BCH can and probably will kill BTC eventually, and they are doing everything they possibly can to stop it.
It didn't work, it won't work, it can't work. BSV will never amount to a hill of beans.

>>14705043
>This is why people run full nodes
Well yes it's certainly why miners mine.

>>14704631
No it's not

As long as the system identified the block as invalid it wasn't added to chain. Nice FUD though, brainlet Zoomers who don't know this might've sold out of fear

who do i complain to about this has anyone got btc customer service number?

>>14706898
>roger ver's personal drug money laundering excel sheet permissioned blockchain will win

>>14706937
>Bitcoin: a peer-to-peer electronic cash system will win
>BTC+Lightning, a bildeberg/rotshchilds hijacked cashless fractional reserve scamcoin for good goys that can't even fork in a non-fatal DAA because they're too deep into the cult programming phase will win
Gee yeah dude hard fuckin choice.

>>14706915
1-800-BIT-COIN

People are not taking this attack with enough caution:

If anything, this proves that the Bitcoin network CAN BE ATTACKED at any moment. Now, the problem is, if this wasn't a brute force attack, then the code is flawed.

If you think about it, all miners know that hash power attacks are stupid expensive and risky, so I'm thinking someone found a way to actually jump the queue and screw with the main database. It doesn't make sense to attack BTC with hash unless you are so millionaire you don't even care, but people with tens of millions are not idiots.

If this happens again then BTC might actually be dead for real this time.

>>14707062
Huh, didnt think about that. I guess it would be very expensive for an attack like this

>>14707062
It wasn't an attack, it was a miner mistake, for which they paid dearly. No queue was jumped, the block was discarded and the next one replaced it exactly as it should, and the miner of the next block was the same miner as the invalid block. "People with tens of millions are not idiots" is just stupid, software is fucking complex, boeing fucked it so hard they bugged an autopilot to navigate planes straight into the fucking ground like a lawn dart. the entire history of software is teaching man how little he actually understands about engineering problems. This was just another insignificant blip on that long and storied line.
You really want to fearmonger about BTC, figure out what happens when the hashrate abandons the chain faster than the progression towards the next difficulty adjustment. There's something you can legitimately piss your pants over.

>>14707062
Lol what? They could perform this attack a million times and the network would reject it every time. If they own enough mining power to do so why would they screw themselves like thT?

>>14707180
This. This is the greatest fear. If the price drops drastically enough it might happen

>>14707208
It doesn't even require a price drop, it only requires a divergence significant enough between BTC and another SHA256 coin and not only *might* it happen, it *will* happen, and *has already* happened for an entire day to drive the point home. Thirteen more of those days and it's lights the fuck out.

>>14707249
difficulty readjusts down and inefficient miners come onlline to take advantage

>>14705543
yes and you could go change the coin reward in main.cpp in any of them and cause the same type of invalid block

Good job there's a consensus algorithm and bad block rejected

why mods even allow these threads

>>14707286
Nope, because it's economically rational for them to mine the more profitable coin instead, and difficulty isn't adjusting fast enough. That's the entire point.

>>14707286
will it happen FAST ENOUGH is the question mate

>>14704631
Height 584802 (Main chain)
Hash 000000000000000000036f762072726964af3199d3c1dd0c3301c1d68a9ecec8

>>14707249
Wait so you’re saying it’s happenign right now? Wtf

>>14707589
nothing is happening dudes bitcoin has no invalid block in the chain

>>14706898
>BSV will never amount to a hill of beans.
we'll find out before 2021

>>14707010
Smashing

>>14707601
This is what I’m saying, what the fuck are these discord trannies smoking

>>14707607
dunno, antpool mined an invalid block then mined a valid block too

HOLY SHIT BITCOIN IS BROKEN

SELL SELL SELL RUN FOR THE EXITS IT"S OVER

REEEEEEEEEEEEE!!!!!

>>14707664
retard just look at a block explorer!

>>14707602

"Here I can do the work but it's shit"
"Thank you for your efforts Jerome. Now is there anyone else in class who can actually do it?"

>>14707589
No, i never said it was happening right now. It already happened on November 12th 2017. BCH had more profitability for the entire day to mine than BTC, 90% of miners abandoned the BTC chain and mined BTC instead before the situation changed.
Any time the profitability of mining BTC vs some other coin diverges faster than the present block height is proceeding towards the next DAA, this can and does happen. So for example, a 2% dip in the BTC price and a 6% jump in the BCH price directly on the DAA will cause this to happen, because the hash rate reduces the same amount, increasing the block time and by extension the time to the next difficulty adjustment by more time than has actually elapsed in the day. Larger jumps exaggerate the effect and make recovery more difficult. The lower competitive SHA256 coins are manipulated, the easier this is to exploit in an actual attack, because you can push greater percentage gains with less price action, which is hilarious in the context of the core cult constantly trying to suppress BCH price as much as they possibly can. It's like an idiot playing with a bow, drawing it out as far as he can with the arrow pointed directly at his face.
But core cultists were never known for their intelligence.

ehem
T O N I G H T

>>14707770
Oh yeah, ofc. I thought you were saying it just happened.

That sort of fork won’t happen again. Every whale knows they’ll get rekt by it. They have too much $$$ invested to take that sort of risk

>>14707795
It doesn't have anything to do with another fork. All that is required is price divergence between BTC and another SHA256 altcoin, that's all. If that happens and pulls hashrate away from BTC faster than the next DAA approaches, DAA will be permanently frozen and eventually the chain will experience no new blocks at all, ever.

>nigger tries to rob bank
>nigger gets shot
>"omg banks are fucked it's over"
BCH/BSVtards, not even once

>>14704757
>>14704783
>>14704792
>>14704816
>>14704822
>>14704854
>>14704906
>>14704962
>>14704976
>>14705004
>>14705023
>>14705037
>>14705043
>>14705162
>>14705662
>>14705814
>>14706291
>>14706619
>>14706912
>>14707180
>>14707314
>>14707607
ALL OF THESE POSTERS ARE ANTI-ALT BTC PUMPERS

100% this is a major happening for BTC that should drive big money into alts and what you are seeing is damage control. Big BTC baggers are is total fear of getting caught in a price drop with the blockchain at a near standstill due to flaws like this. They won’t be able to move their bags off to unsuspecting normies fast enough to keep from going broke.

The basic message is: buy VIDT now. Sell all your BTC as fast as you can and go all in VIDT.

If you have no BTC but are thinking of getting into crypto, do the needful with VIDT. No matter how many rupee you have you can easily get a big VIDT stack.

>>14707872
This my friends is true fact.

You must sell your BTC quickly my friend and but VIDT. Major disaster.

Don’t let the system take advantage of you. Just but VIDT and Bob is your uncle.

>>14708209
No, I'm not. I want BTC to die in a fucking painful fire and the people behind it to lose everything. But you don't fight by being idiotic about the battlefield. This is a nothing, eyes on the prize or you'll never actually break their backs as they so richly deserve.

>>14708264
very sorry please do the needful.

>>14708209
Kys

>>14706898
It's crazy how wrong you are. All smart developers are switching to BSV now and building the internet and financial system of the future.

Jump on the train or get left behind, we already left the station.

>>14708209
They'll get more sophisticated

>>14708542
don't say you were not warned.

>>14707249
>>14707589

>>14708609
>muh bsv weather app
just lol, vishnu in the blockchain indeed.

>>14708209
fudding btc and shilling your shitcoin at the same time,silly pajeet

>>14708774
Cope

>>14708542
All those apps sound entirely pointless. Why do you need audiostreaming over BSV? Why do you need "Reddit over Bitcoin."
Sounds more like you should go back there.

GUYS I JUST TRIED TO CASH OUT AND THEY SAID MY BITCOINS ARE INVALID ITS OVER I LOST EVERYTHING

>>14708209


Why are you clogging this board with shit? Stop it. I hope you die screaming for being worthless

>>14707872
I noticed that the price action on bitcoin seems to be an attempt to shake off alt's correlation. Is BTC close to dying? How big is the transaction backlog right now?

>>14709522
You need it so calvin ayre can collect a fee on it everytime you use it!

>>14709918
> I noticed that the price action on bitcoin seems to be an attempt to shake off alt's correlation.
I don't see how that could even theoretically work given that BTC is a base pair with basically 90%+ of the total crypto trade volume in the market.
> Is BTC close to dying?
It would die immediately as soon as the market moved it in the way already described. No warning. You see a correlation too with each DAA typically pre-saging a dip in the BTC price, I expect the market is onto it and knows that if it is going to happen, that's the time it's most likely to happen, and they're hedging their bets by exiting there and waiting for the rest of the market to dump as well and then get back in if they perceive it as "stable" (even though it isn't and never will be).
> How big is the transaction backlog right now?
Shitty, but it's been worse.
https://jochen-hoenicke.de/queue/#0,all

>>14704962
bitcoin works by the power of the blockchain...

>>14709522
It's immutable, so kikes can't alter the fucking data. The BitCoin blockchain is a public and unchangeable ledger to store data and run currency on. Everything you can imagine where you want to eliminate the element of TRUST will have a blockchain use case. First thing that comes to mind is the obvious ones like Currency, Accounting, Voting Systems, Communications platforms.

It will be the end of the Jew operating, subverting and manipulating in the shadows. If you do not understand how important this invention is for mankind, you are probably a kike.

DARK TO LIGHT

>>14710173
Don't be retarded. calvin and craig would have to let go of their patents and mining in order for that to work. Something they will never do.

>>14710173
>BitCoin

>>14710050
>I don't see how that could even theoretically work
I don't think it would work forever. Just delaying the inevitable. My point is that someone is accumulating bitcoin right now and alts not so much.

>>14710368
Wouldn't tether attempting to transparently manipulate up BTC and down everything else look exactly like that?

some retard mined a block
instead of settling for the 12.5 BTC block reward he wanted to get more
every other node said "fuck no sit down boy" and rejected his block
as a result he lost the 12.5 BTC he was entiteld to and got nothing

>>14710598
That I don't know

>>14710598
Strange thing, btc is falling faster than bch right now.

>>14704976
This should be setting off alarms for you: the fact that it wasn't added shows the integrity of the blockchain. This is the kinda thing that will make potential investors more secure in buying btc.

>>14705814
quit projecting

>>14710935
But only the mining nodes rejected it, some of the non mining raspberry pi nodes they refused to let the chain naturally scale so as to "help" the ecosystem are now on a separate chain lolololol

BSV is Bitcoin

>>14705814
Im literally trying to learn by lurking on all your posts, so back up your insults with knowledge please, i own no crypto just generally curious

>>14711199
BSV is reverse BTC, you guys are literal idiots, do you understand correlations?

>>14711270
You are fucking dumb dude, stop talking.

>>14704659
It means nothing to bitcoin, just ignore it. But as always, short shitcoins

BSV is literally a failed kike experiment. CSW & Calvin are also friends of Epstein.

>>14711426
Do you masturbate while you make up these outrageous lies?

KYS you dumb kike

>>14707010
>fractional reserve
This is dumb and you're retarded.

>>14711519
Fuck off, nigger. CSW pretends to be pious in order to distract everyone from his degenerate & gambling ties. He and Calvin both hosted parties for Epstein.

>>14707688
that's what happens in early times when actually putting some effort into scaling

>>14711244
>>14710980
Here you go https://bitcoin.org/bitcoin.pdf

>>14711633
Prove it faggot

>>14712403
CSW: "I worked on the first online casino". He's deep down in the gambling/bucket shop industry. Ayre made a fortune milking goyim. Fucking dishonest kike tools.

>>14712594
crying craig the perjuring hypocrite

>>14711270
it's not enough that bitcoin must succeed but sv must fail
spectacularly

>>14712594
You just move the goalposts I see. Fucking kike.

>>14707062
Lmao cant believe an actual brainlet exist
>muh attacks
You dont know what the fuck you’re talking about

>>14704757
This happens all the time, nothing burger...

kys OP

>>14704976
nufag spotted