BLOCK

ChemicalGreek

Coinbase wallet doesn’t support Arbitrum Nova OP! But don’t be afraid. What do you need to do? You can import the seed phrase from your Coinbase wallet in to MetaMask and you’ll be able to move your moons again. Step by step: 1. ⁠Look for your 12 or 24 words from your Coinbase wallet (or private key) 2. ⁠Use this seed phrase in MetaMask 3. ⁠Maybe you need to add the network and contract address again, I summed them up for you: NAME : Arbitrum Nova RPC: https://nova.arbitrum.io/rpc CHAIN ID : 42170 SYMBOL: ETH BLOCK EXPLORER: https://nova-explorer.arbitrum.io/ MOONS Contract Address: 0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0 4) Sell your moons I hope you’ll be able to recover your funds OP! If you sent your moons to Coinbase directly (so not their wallet, it’s a difference) then you need to contact their customer service.

No-Mission-962

Well bagging the groceries etc takes a minute or two anyway. So no big deal. And worst case us 2 minutes some times transactions can go through in less than a minute also, depending with the next BLOCK for LTC is..

ImaFreemason

NAME : Arbitrum Nova RPC: https://nova.arbitrum.io/rpc CHAIN ID : 42170 SYMBOL: ETH BLOCK EXPLORER: https://nova-explorer.arbitrum.io/ MOONS Contract Address: 0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0 BRICKS Contract Address: 0x6DcB98f460457fe4952e12779Ba852F82eCC62C1

noob_zarathustra

BLOCK is totally worth caps too haha

Thump604

So raise your hand if you boguth COIN stock when the SEC filed. Now raise your hand if you bought $BLOCK when short attacked. Those raising their hands - congratulations, you are doing this right.

Towryaalai

If a girl texts you and tells you her life story. BLOCK HIM!

reed5point0

Dude loved the BLOCK-chain so much he invented Cubism

zoomercoomer9000

Coinbase doesn't support moons. You can try importing your wallet to MetaMask Desktop: https://github.com/MetaMask/metamask-extension Mobile: https://github.com/MetaMask/metamask-mobile From there, you'll need to add Arbitrum Nova by going to Settings --> Network ---> Add Network ``` NAME : Arbitrum Nova RPC: https://nova.arbitrum.io/rpc CHAIN ID : 42170 SYMBOL: ETH BLOCK EXPLORER: ``` https://nova-explorer.arbitrum.io/ MOONS Contract Address: 0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0

isnakke

I use CDD too to BUY only the withdraw, If CDC was to ever go under like voyager , Celsius ETC- then your BTC or other crypto will never be able to withdrawn ( they own it) if you want to have it stored but not on an actual device I recommend Trust Wallet app ( search their official Twitter and only use their link to download) , it’s a cold wallet and transfer the BTC or any crypto there. BEWARE though never sync it with anything , never give anyone the 24 letter seed phrase and never store it on any cloud service,phone notes etc - only on paper and in safe or only place book you will know about and off the internet. If anyone ever messages you claiming they are support BLOCK then. Congrats on your BTC purchase.

clue5tick

**TICK TOCK NEXT BLOCK** is a boring headline. So is the Financial News: 1 BTC = 1 BTC.

witcherycro

BTCUSD $ 22,449.50 1.05% ETHUSD $ 1,570.01 0.87% LTCUSD $ 91.24 3.54% SOLUSD $ 21.40 4.45% THE BLOCK PRO HAS ARRIVED. A new platform powered by the industry's most sought-after experts. Learn more ✕   Connect    Bybit halts deposits via USD bank transfer, citing partner 'service outages' Crypto's three biggest stories from the past week PancakeSwap V3 upgrade set to go live on BNB Chain in first week of April This week in markets: Crypto prices slide amid Silvergate fallout Crypto lender Celsius converts almost 23,000 WBTC into bitcoin Bybit halts deposits via USD bank transfer, citing partner 'service outages' Crypto's three biggest stories from the past week PancakeSwap V3 upgrade set to go live on BNB Chain in first week of April This week in markets: Crypto prices slide amid Silvergate fallout Crypto lender Celsius converts almost 23,000 WBTC into bitcoin          USD                  JPY                 EUR                 GBP        LIVE BTCUSD $ 22,449.50 1.05% ETHUSD $ 1,570.01 0.87% LTCUSD $ 91.24 3.54% SOLUSD $ 21.40 4.45% LATEST Silvergate short seller predicts crypto bank's demise within a week March 4, 2023, 2:36PM EST    COMPANIES Prosecutors say SBF should only access approved websites. He wants Door Dash and the New York Post March 4, 2023, 2:23PM EST    POLICY Bybit halts deposits via USD bank transfer, citing partner 'service outages' March 4, 2023, 10:45AM EST    EXCHANGES Crypto's three biggest stories from the past week March 4, 2023, 10:30AM EST    COMPANIES PancakeSwap V3 upgrade set to go live on BNB Chain in first week of April March 4, 2023, 8:20AM EST    CRYPTO ECOSYSTEMS Silvergate short seller predicts crypto bank's demise within a week by Benjamin Robertson COMPANIES • MARCH 4, 2023, 2:36PM EST Published 2 HOURS AND 10 MINUTES EARLIER on     The Block         QUICK TAKE Short-seller Marc Cohodes, who has been attacking Silvergate since last year, now expects the bank to close within a week. Silvergate shuttered one of its key money transfer platforms on Friday, shortly after Moody’s downgraded its long-term issuer rating.   Marc Cohodes spent part of his Friday afternoon playing the conquering victor. The veteran short seller posted pictures of a seemingly deserted Silvergate office on Twitter, while telling The Block that, ''Silvergate is a publicly traded crime scene and Alan Lane belongs in prison.” A spokesperson for the bank and its CEO Lane did not respond to multiple requests for comment.  The California-based bank has taken a beating recently over its ties to FTX and Alameda Research. Shares are down around 95% over the past six months. The company's long-term issuer rating was downgraded by Moody's on Friday, which warned further rating cuts were on the table after the bank disclosed it was poorly capitalized and had failed to file its annual report on time. Shortly after the rating downgrade, the bank announced it was closing its 24-hour money transfer system known as the Silvergate Exchange Network. ''I would be very surprised if the bank is open next week,'' Cohodes said.

Shiratori-3

Just noting that the actual article is titled *'ADDRESSING ORDINAL CONCERNS: BITCOIN DECENTRALIZATION AND BLOCK SPACE'* - looks like the auto-titling as applied to the link post is slightly off-beam. Some interesting stats in there tbh - re cumulative inscription-specific storage at +3GB to date; fees now on the decrease, but the mempool backlog remaining high

biba8163

1. No Fiat Onramp. How do I buy anything? I need crypto to buy crypto? How do I buy crypto? Your DEX cannot help. Piece of shit, you wasted by time. 2. "With 100% of the trading fees going back to the people" BLOCK, another pump and dump shitcoin token makes/mode the founders rich and does not make you the owner of the exchange. I've lost track of the number of these money grab shitcoin exchanges that returned trading fees to the "people." 3. " better security against hackers" I guarantee you, a shitcoin token money grab exchange is not spending as much as Coinbase, multi-billion dollar publicly traded exchange, on security. $3.8 Billion was stolen on "DEFI" protocols last year. 4. Zero transparency, controls, etc in DEX and usually a handful of people that control everything in these DEFI protocols and market it as the most secure, fair, governed by token holders, etc. Even what people consider the best example of a DAO is completely centrazlijed. I posted this 3 years ago when Maker had a protocol change voting to use USDC > One man, Rune Christensen controls the system, interest, fees, voting, etc. There are ELEVEN addresses that accounted for 98% of the voting for the protocol change for an "executive vote" used USDC. Eleven addresses control the entire protocol and a protocol change was voted in just...what 24 hrs? And most of those addresses are probably owned by a handful of people. On what planet is that decentralized? https://np.reddit.com/r/CryptoCurrency/comments/fl68d4/comment/fkxc40i 5. Usability. Download an app. Install it. Looks like the Bloomberg Terminal. Those 3 steps itself will scare 95% of users. 6. Support - CEXs have some of the worst support when you compare it to the financial services industry but DEX is even worse. I am not aware of any DEXes that are manning telephones or have ramped up email support to help users with issues.

CantaloupeDue3237

**BLOCK** 10 of fiat mining in a row complete ✅ 😂😂

icedank

In addition to all the other reasons already listed... Bitcoin is produced on a fairly predictable schedule going forward, marked by halving, etc. Gold is produced by mining it. So if some new source of gold comes on the market, it could drive it down. Imagine a 50 or a 100 years from now, some asteroid mining operation hauls back the freaking motherload and depresses the prices of gold. Or if you'd rather a historical analogy: Mansa Musa rolling in for Hajj and spending or giving away so much gold it actually drove down the the market price for gold. Bitcoin? TIK TOK, NEXT BLOCK!

Lockbaal

But what you don't seem to realise is "Yes 80% of the validator do not build block with transaction related Tornado Cash" (Mostly because they all use the same Bot, initially designed to help validator make more money, but that is OFAC Compliant) That is true, and i do not refute this affirmation AT ALL. And i see there could be a risk in that. BUT, NONETHELESS, there are still validator which do include those transaction, even if they are a minority. THEY ARE STILL CHOSEN AS VALIDATOR and do ADD BLOCK WITH TORNADO CASH TX INSIDE THE BLOCKCHAIN. Those transaction STILL END UP BEING INSCRIBED IN THE BLOCKCHAIN. So no they are not "censored by the network" it juste mathematically take them longer to be inscribed because most of the validator does not incluse them on their block but they Will Always bé inscribed as long as 1 validator put them in the block they validate and the other validator are not forking the chain every 10s by choosing to never build New block on top of the block containing tornado cash transaction. And bout the 80% of hashrate being fucking expensive. Yes i know the sum.at play. But the fact is also that 51% of the Hashrate Is actually being detained by 6 compagnies. Capitalism being capitalism, they have no fucking interest to 51% attack the BTC blockchain. Economical reward are not worth the cost. But 6 CEO could theoratically sit down at a table and décide to 51% attack the BTC blockchain because they have this hashrate

MilesPower

In bitcoin "time" doesn't really exist in the same sense as you might think as the bitcoin network doesn't rely on an outside oracle to determine the time and doesn't keep a time consensus with "the real world" instead it is it's own clock, a distributed timestamp server where everyone HAS to agree on the order blocks and transactions occurred. >In this paper, we propose a solution to the double-spending problem using a peer-to-peer distrib­uted timestamp server to generate compu­ta­tional proof of the chrono­log­ical order of transactions - Satoshi Nakamoto (2009) Miners are required to add their own timestamps to the blocks they're building but it leaves the door open for potential manipulation - If miners say the blocks took longer on average than it did then the difficulty would adjust downwards and their profitability would go up. There are two rules in place with regards to how to "timestamp" blocks to prevent this being an issue: >Median Past Time (MPT) Rule – The timestamp must be further forwards than the median of the last eleven blocks. The median of eleven blocks implies six blocks could be re-organised and time would still not move backwards, which one can argue is reasonably consistent with the example, provided in Meni Rosenfeld’s 2012 paper, that six confirmations are necessary to decrease the probability of success below 0.1%, for an attacker with 10% of the network hashrate. >Future Block Time Rule – The timestamp cannot be more than 2 hours in the future based on the MAX_FUTURE_BLOCK_TIME constant, relative to the median time from the node’s peers. The maximum allowed gap between the time provided by the nodes and the local system clock is 90 minutes, another safeguard. It should be noted that unlike the MPT rule above, this is not a full consensus rule. Blocks with a timestamp too far in the future are not invalid, they can become valid as time moves forwards. https://blog.bitmex.com/bitcoins-block-timestamp-protection-rules/ So long as the timestamps abide by these rules the network will keep "time" and the individual timestamps don't really matter.

shin_jury

In Metamask, here is the custom network info you have to add NAME : Arbitrum Nova RPC: https://nova.arbitrum.io/rpc CHAIN ID : 42170 SYMBOL: ETH BLOCK EXPLORER: https://nova-explorer.arbitrum.io/ Then here is the custom token you need to import MOONS Contract Address: 0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0

skyvina

Shouldn't we ban THE BLOCK from this subreddit since FTX paid off this news site?

Exedus11

Why suspicious? Major mining firms from Argo Blockchain, BLOCK and GRIID Infrastructure are already deploying the chip in their centres. It's just a matter of scale. Keeping scale in mind, this isn't going to compete with an S19, it would be for the casual miner. This would be analogous to the past when a adding your GPU to a pool was competitive. >you gotta pay for the card, and the energy bill used by the card to hash. True, I just tried to give a sense of monthly profit after you pay off the card. The cost of the card is a question that depends on a lot more.

wackyasshole

BOOM BLOCK FI ROCKET SHIP. - known scammer

jgarcya

27 million in loan.... The BLOCK must be paying its employees well... Even at $100,000 a yr salary it would take a lifetime to pay back......

Eyelash_Viper13

Bullish. Guess Ill grab some more BLOCK

economist_kinda

Expect BlockFi to BLOCK withdrawals

Savi321

How did people trust something with name like BLOCK fi?? The name says it all...

yourmom_fat_as_hippo

So, it's finally BLOCK-FINISHED..... badum tssss....

rokosbasilica

Remember when the founder of cardano got called out for being a blatant liar, and lying about his academic background, and he responded by making a video declaring that he had a **BLOCK COCK HELICOPTER**?

LGNDS_Crypto

FET, VVS, TONIC, BLOCK, JUNO, CRO, LTC Well at least that would benefit me a lot.

igadjeed

> wouldn’t most nodes just refuse to enter the double-spend into the mempool The mempool is not relevant to consensus, nor is it relevant to miner double-spending Even in normal mining, a miner can build his candidate block from any source of valid transactions. He doesn't have to use his mempool. The mempool is, for obvious reasons, the best source of **unconfirmed** transactions An attacker will definitely not use a mempool for his double-spend. He will construct his own spending transaction and send it to the node network to be mined via the winning miner's mempool. When replacing the transaction with a send-to-self transaction, he includes the replacement transaction directly in his block directly. This transaction does not need to be seen by other nodes The node network follows the longest chain. A successful 51% attack will produce a longer chain than the regular miners. Every node in the node network will reorg its tip to follow the longer chain. The node network **does not judge** the replacement transaction as a double-spend. During the tip reorg, the original transaction disappears, as if it never existed --- Some extra background ... Chain tip reorgs happen whenever there is a tied mining race. This is not an attack, It is a normal occurrence - about 10 times per year. A node is not aware of a tied mining race until the next block arrives. If the new block does not follow the node's previous block (PREV_BLOCK_HASH does not match), then the node reorgs its tip to follow the longer chain A 51% attack forges a tied mining race, takes advantage of the nodes' consensus rule of always following the longest chain. A node never judges fraud or dishonesty. It prevents double-spending being recorded on the chain by choosing the longest chain https://www.metzdowd.com/pipermail/cryptography/2008-November/014832.html https://www.metzdowd.com/pipermail/cryptography/2008-November/014843.html https://www.metzdowd.com/pipermail/cryptography/2008-November/014858.html > The transaction in whichever branch ends up getting ahead becomes the valid one, the other is invalid. If someone tries to double spend like that, one and only one spend will always become valid, the others invalid > Receivers of transactions will normally need to hold transactions for perhaps an hour or more to allow time for this kind of possibility to be resolved > It is strictly necessary that the longest chain is always considered the valid one > When there are multiple double-spent versions of the same transaction, one and only one will become valid > The guy who received the double-spend that became invalid never thought he had it in the first place > We're not "on the lookout" for double spends to sound the alarm and catch the cheater. We merely adjudicate which one of the spends is valid >

aroups

>UNTIL YOU LEARN MORE ABOUT CRYPTOCURRENCIES AND BLOCK-CHAINS. Only to conclude that you should stick to ETH,BTC and maybe 1 or 2 alts

TheDudeGoblin

Almost as if with Reddit, and Twitter you can cater your experience to your own liking. Strange concept, I know, but if you don't like what you see there is always the BLOCK function.

Ferdo306

It's Blocknet (BLOCK) Really interesting interoperability project But listed only on Bittrex and development, although active and ongoing, is kind of slow cause the team and funding aren't 't that large It's a true OG coin but times have changed and no one really cares about things like decentralisation and such

TrickyYesterday7885

Only fools still hold.. invest them with BLOCK TRADERS and make 5% to 20% ROI daily

ChemicalGreek

You need to manually import the tokens you own and the networks of course :) For RCPs it’s this: NAME : Arbitrum Nova RPC: https://nova.arbitrum.io/rpc CHAIN ID : 42170 SYMBOL: ETH BLOCK EXPLORER: https://nova-explorer.arbitrum.io/ MOONS Contract Address: 0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0 BRICKS Contract Address: 0x6DcB98f460457fe4952e12779Ba852F82eCC62C1

greenappletree

Surprisingly well written and informative. FYI, the upgrade is the change as to how miners submit their work, currently name Stratum to v2. What is neat is that BLOCK is getting in on mining and using a Tesla solar farm. No wonder Jack and Musk are such buddies in recent times.

reshail_raza

"This is reply from founder of Saito. Also if you have any queries you can directly ping him too he is very chill and he is the only founder in space of major L1 which addresses messages." A --> B --> C A ---> B ---> B2 ---> C as transactions propagate deeper into the network, the amount of "power" they provide for producing blocks falls. the same transaction is worth less for C than B, and less for B than A. so unless B or C are attacking the network (by spending their own money) A will produce blocks at 2x the speed of B. when A puts transactions into blocks, they will have shorter routing paths and thus be smaller transactions so I believe the first misunderstand of the person asking you this question is the assumption that we WANT or INCENTIVIZE random routing paths in the P2P network. we don't. we want shortly and highly efficient routing paths. we want to incentivize block producers to migrate into the P2P network and get as close to users as possible. now look at these two transactions A --> B --> C A ---> B ---> B2 ---> C they are the same transaction. the difference is that when the 2nd transaction arrives at C it already has the first in its mempool will C add the 2nd version? tx1 has 2 hops tx2 has 3 hops but the core tx is the same. tx1 is way better for the block producer when they get tx2, they'll delete it so node B2 is not going to get paid very much, because their transactions will rarely go into the blockchain but that's what we want, since they're not contributing real value if B and C can avoid them but that's what we want, since they're not contributing real value if B and C can avoid them they are consuming bandwidth without contributing value. technically they are a parasite. > the issue i have with this is that the path is selected using some decentralized source of randomness so that nodes on the path are not arbitrary but random. so this quote shows a misunderstanding the path that wins isn't random the lottery selects the winner from the txs that ARE included. but the block producers want to put in the TXS that give them the greatest chance of winning, they they are biased towards shorter and more efficient routing paths everyone else on the routing path also hates B2. a longer routing path makes everyone else less profitable and makes it less like that THEY get paid because it means their TXS are less likely to create a block the person you are talking to seems to think the lottery picks a random routing node in the network. it doesn't. it picks a random routing node FROM THE NODES IN THE ROUTING PATHS OF THE TXS THAT ARE IN THE BLOCK. block producers cut TXS from inefficient paths if they have better / shorter / more efficient paths

Far-Scholar9028

Here is the network details: NAME : Arbitrum Nova RPC: https://nova.arbitrum.io/rpc CHAIN ID : 42170 SYMBOL: ETH BLOCK EXPLORER: https://nova-explorer.arbitrum.io/ MOONS Contract Address: 0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0 BRICKS Contract Address: 0x6DcB98f460457fe4952e12779Ba852F82eCC62C1

LazyEfficiency7942

As far as i know, Mobile is the only way to key your seed phrase, you can recover it into metamask. Moons are on arbitrum nova. NAME : Arbitrum Nova RPC: https://nova.arbitrum.io/rpc CHAIN ID : 42170 SYMBOL: ETH BLOCK EXPLORER: https://nova-explorer.arbitrum.io/ MOONS Contract Address: 0x0057Ac2d777797d31CD3f8f13bF5e927571D6Ad0

morbo26

This is a misconception. To control a POW chain you need to expend the energy and therefore cost EVERY SINGLE BLOCK, this is different to proof of work where you bear the expense once and then can rent seek once you are rich.

igadjeed

My understanding differs from the /u/nullc comment, so it could be wrong. This is based on my memory of reading snippets of Core source code about 2 years ago Also, I'm assuming the question is about processing of recently mined blocks, not about the initial block download. I suspect those cases have different answers. The question can be interpreted either way. Please clarify I think the node accepts the block as an orphan and stores it until the missing block is sent, doesn't ask for the missing block In a different case - a chain tip fork caused by a tied mining race - a node recognizes that it might have a stale chain tip when the next block's PREV_BLOCK_HASH doesn't match, preventing the new block from extending the chain. In this case, the node asks another node (or other nodes) to send the block which has a hash matching PREV_BLOCK_HASH of the new block. If that turns out to be the valid longest chain, the previous block becomes stale > signatures They are not directly important for extending the chain. They are important for validating the block at transaction level. SegWit transactions do have signatures, and they are stored in the blockchain

igadjeed

These things tie together * tied mining race * chain tip reorg * 51% attack The reality of network latency creates approximately 10 tied mining races per year. A tied mining race creates forked chain tips. An individual node is unaware of a fork until the next block is mined, and it follows (via PREV_BLOCK_HASH) a chain which is different to the node's current chain. To reorg, the node requests the previous block which matches PREV_BLOCK_HASH and makes the fork block stale In a 51% attack, a miner with sufficient hash power can forge a tied mining race and use the fork to double-spend Any chain tip fork is an opportunity to double-spend. Normally, the opportunity is impossible to exploit because a tied mining race is unpredictable Occasionally, a tip fork (tied mining race) can be two blocks deep. Occasionally, a node might reorg and follow a chain which is then (next block) found to be shorter. Then it needs to re-reorg. To cover these possibilities, safe confirmation advice recommends waiting 6 blocks. In 99% of tied mining races, 2 confirmations is enough. In an extreme 2-block tip which is reorganized and re-reorganized, waiting 4 blocks is sufficient Even though very, very few chain tip reorgs are deeper than 2 blocks, there is no defined limit to the depth of a reorg. Your hypothetical network outage can be handled by an arbitrarily deep chain tip reorg In 51% attacks on Bitcoin-like blockchains, the attacker mined in parallel for 2 hours, and then released 2 hours of blocks to the node network. This method allows an attacker to circumvent the usual 6-block confirmation rule, but the experience also motivated exchanges (the double-spend victims) to dynamically calculate confirmation delays according to each crpyotcurrency's attack risk In your hypothetical, mals who are aware of a chain fork caused by a network outage can try to exploit the outage by double-spending. The risk is mitigated by the fact that their likely victims (coin-to-coin exchanges) should be aware of the chain fork, and wary of double-spend possibility. Also, to double spend, the attacker needs to be on the slow mining side of the outage, which may not mine enough blocks to pull off the heist

Potential_Departure6

Talk about a BLOCK chain eyyy

SegheCoiPiedi1777

While I think owning BTC is better than owning Microstrategy stock, what you say is not true, neither bound to happen. Microstrategy software business has been long time dwarfed by its BTC bet. The company would never be able to repay its debt and obligations if it only had to rely on the FCF generated by the business. In other words, the course set by Saylor is not reversible. That’s also why he gave up the CEO role and became chairman to focus on what actually matters to the company at this point - its BTC bet. If Saylor dies, the board would never appoint a new CEO that does not believe in BTC. It is actually very likely that at some point in the future saylor himself will decide to sell / spin-off the legacy software business and retain only its BTC bet as ‘core’ to the new company. It’s similar to what happened with a failing Yahoo and its stake in Alibaba a few years ago. Yahoo ended up being sold to MSFG and the Alibaba stake split to create value for shareholders. Even if an anti-BTC CEO comes around (impossible, but likely they will split the non BTC business, as I said before), he/she will not just make all BTC that microstrategy owns disappear. Whatever strategy it’s chosen to get out the BTC bet, the stock is and will be forever linked to BTC that the company owns. Even if as you say they liquidate all BTC they own, the money will be distributed a way or another to shareholders, so you won’t just lose your investment. It’s actually likely that any maunever to split BTC from Microstrategy will be positively received by markets. This is different than Tesla (or BLOCK), since those companies have large core businesses that have nothing to do with BTC, even if they own / have owned some. So, no, you are not subject to this kind of risk by owning Microstrategy. Personally I prefer Microstrategy than spot ETFs that tend to be very expensive. But again, nothing beats the real thing.

FoulmouthedGiftHorse

The people who's funds are deposited into the Tornado pool are the ones ~~writing to the blockchain~~ writing to a brand new blockchain for those coins (because the blockchain history of those coins has been mixed up). Which entirely defeats the purpose of having a BLOCK-CHAIN. It breaks the chain and restarts it.

opreturn_net

View with a text editor? Don't pgp public keys start with \-----BEGIN PGP PUBLIC KEY BLOCK----- private keys start with \-----BEGIN PGP PRIVATE KEY BLOCK----- and encrypted pgp data starts with \-----BEGIN PGP MESSAGE-----

jessquit

>so, prove this to me (and all), create a video where you can BLOCK transactions using your node. Wat? All you have to do is turn the node off. Boom. Your counterparty can't use LN and must close the channel, after waiting days or weeks for the channel timeout to expire.

iguano80

>Those funds move within the LN if and only if the counterparty agrees, like a bank. so, prove this to me (and all), create a video where you can BLOCK transactions using your node. there is no one documented video on all internet documenting this. to this point, all what bcash community can create is theoretical verbiage that doesn't work outside the bcash echochamber.

Logical_Duck4042

You basically dont know how software development works. LOL They released the base-code and keep improving things. Why, does Version 1 equate to every single complete well-performing product? Idk if you ever know the term CIPs? If you dont know the basic of SDLC stop acting that you know everything. >Because a single smart contract takes a lot of space inside a block. From what you've said this is very wrong. a BLOCK can handle many smart contracts. There is a max script size. WHAT this new update will do is just REFERENCE that script. If you know how C++ pointers work you should understand that. But I guess YOU dont know that because you dont even know how to write code

CrypticClone

Its pretty f##$%in simple man.. POS - UNLESS YOURE A MULTI MILLION DOLLAR CORP/USER RUNNING MULTI MILLION DOLLAR VALIDATION HARDWARE.. YOU DONT GET A BLOCK REWARD you stake in a pool.. which offers rewards... and rewards for most staking pools are interest based on your stake which fluctuates not a return on transactional block rewards (thpugh correctly me if im wrong.. im rly intoxicated)

timbulance

Hey Bill 👋 TICK TOCK NEXT BLOCK.

Romsel87

Bitcoin is beautiful but greed is a bitch. Good that Bitcoin doesn't care. TICK TOCK NEXT BLOCK.

noobzp

I've compiled some of the Solana name jokes I found on this sub, feel free to add more. *Solana Notwork* *Solong Network* *Solana* ***BLOCK****chain*

De_Godey

XCAD, SPE, BLOCK and Azero

anonibills

Check out BLOCK V

halloman77

WHY DID YOU BLOCK MY ACCOUNT? It's been 2 weeks, sent all the info. Horrible support service, who will compensate? Once you unblocked me (hopefully) all of my assets to coinbase f binance!!!!!!

AutoModerator

Post is by: Awhodothey and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/s7pjy5/12_reasons_cardano_cant_scale_in_2022/ This post is a reality check on IOHK's latest investor disinformation campaign: https://iohk.io/en/blog/posts/2022/01/14/how-we-re-scaling-cardano-in-2022/ Tldr: It's great to see they are starting to acknowledge Cardano's scalability problem, or at least pumping the brakes on their unsubstantiated claims of having solved the trilemma. For the first time, 2021 saw the Cardano community publicly acknowledge some of the limitations of their design that critics have pointed out for years. We've come a long way since IOHK was still pretending this was almost ready to go: https://nitter.net/iohk_charles/status/1287481374224420864 **1. BLOCK SIZE/ 2. MEMORY/ 3. STORAGE INCREASES** The bigger the blocks, the higher the memory, and the more storage- the faster the chain. Basically every chain that isn't already run on super computers can increase blocksizes, memory or storage requirements if they are OK with more centralization and less stability. That's the trade off. That's true for Cardano, and it's true for every other chain. But how much room does Cardano have to increase parameters? Cardano already has pretty much the same blocksize as Ethereum (72Kb vs ETH's average of 80Kb) and dramatic increases in blocksize will decrease the number of people who can afford to run nodes, and it also makes the network more likely to fork. The theoretical max limit is 28x the current blocksize, but that is almost certainly not practically possible, and no one supports increasing it to even half of that (which is about the most that has ever been tested), because increasing the blocksize isn't free. How critical is it for Cardano to maintain as small of blocksizes as possible? Critical enough that the plan is to only increase in 12.5% intervals when absolutely necessary. The fact that anyone is at all hesitant to increase Cardano's limit when it's 72kb tells you that this isn't a free trade. There is no plan to ever reach max parameters. Edit: they can actually increase the block size OR decrease the block time, but as they both directly factor into block propagation times, either choice produces the same throughput limit. The decision has more to do with which hardware requirements you want to increase. https://np.reddit.com/r/cardano/comments/pf25jk/without_hydra_cardano_probably_wont_be_faster/?utm_medium=android_app&utm_source=share What makes Cardano fundamentally slower than every other chain is how bloated their tx sizes are. We've all heard the sales pitch "And Cardano has native tokens that don't need smart contracts!," but what you didn't get told is that native UTXO txs on Cardano are an average of 500 bytes WITHOUT smart contracts. And that a basic, native tx is larger than the average Ethereum tx WITH smart contracts. And no, the "And Cardano can combine 20 txs into 1 !" meme doesn't make any difference. The size and speed of each block is all the same regardless of whether you call it 1 tx or 20tx's. The only thing combining txs does is make Cardano significantly cheaper to DDOS. https://messari.io/asset/ethereum/metrics/network-activity Native Cardano UTXOs are bigger than the average Ethereum tx, and Plutus smart contracts txs are even bigger that - a lot bigger- like 40x the size of Ethereum smart contracts: **Sundaeswap determined that the Cardano network was their primary bottle neck and measured Cardano's real-world throughput for their smart contracts to be 0.15 TPS.** That's 47x slower than a native UTXO on Cardano, 100x slower than an Ethereum tx, and 66,000x slower than a Cosmos and Terra tx. 0.15 TPS is a max of 12,960 txs per day, under ideal conditions... on the entire Cardano chain. https://sundaeswap-finance.medium.com/expectations-congestion-mainnet-launch-e9da5abfd819 Edit: Sunday swaps medium posts are all offline now. https://web.archive.org/web/20220117005224/https://sundaeswap-finance.medium.com/expectations-congestion-mainnet-launch-e9da5abfd819 Cardano's problem is much bigger than anything that can be fixed with a 2x parameter adjustment. Max parameters will never be implemented, and even then, they would still leave Cardano more than 3x slower than the second slowest L1 chain, Ethereum. **4. Pipe Lining and 5. Input Endorsers** ...are great ideas. So why are these still in the research phase? They're promising to deliver a plan that hasn't even been designed yet. Let's assume these get designed and developed in 2022. Then Cardano is in the ballpark of Ethereum L1's low tps and high congestion. **6. Plutus Script Enhancements** These are basic functions (that are still in the research phase because of how they conflict with provability in Hydra). Plutus should not even have been released before they developed reference and data inputs. That was an obvious problem, and it was a huge mistake that will create chaos and disappointment. Edit: putting something as basic and critical as reference inputs on the roadmap for 9 months after smart contracts are released is the definition of "move fast and break things." Also, nobody has explained how they solved the conflict with provability. They didn't leave it out of Plutus because it's a minor problem: https://m.youtube.com/watch?v=3dc6zG9EjWE&t=37m30s Cardano will alway have much larger txs than non-UTXO chains because native UTXOs are so large. On top of that, Plutus' smart contract implementation is extremely bloated and inefficient. The problem is that Cardano's UTXO model can't store smart contracts on-chain. So instead of calling an on-chain smart contract, every Cardano SC tx must include the SC script in every tx, because there is no on-chain SC that can simply be referenced again and again. This makes every Cardano smart contract very large. Cardano currently does native asset txs (without smart contracts) at 7 TPS, and that's the theoretical minimum SC size, if they figure out how to compress SCs 47x. And that means that Cardano SCs will always be at least twice as slow as Ethereum L1's unbearably slow 15 TPS, for the same blocksize. Now is a good time to point out that it's clear from their rhetorical focus of comparing their chain to the next slowest chain, that Cardano holders have no idea how slow Ethereum is. Up to this point in time, almost all of Cardano's txs have been basic UTXO's that haven't filled up blocks, because they are a small fraction of the size of smart contracts. Four months after going live, no one really uses smart contracts on Cardano yet. Muesliswap doesn't even have $100 Million in TVL (and doesn't have $5M in liquidity to other tokens). Small NFT drops did bring the network to a crawl, but we haven't seen speeds across the whole network change dramatically like they will when Sundaeswap launches a real DEX and much bigger txs flood the chain Thursday. And catching up to Ethereum L1 will not be good enough. Ethereum has L2s already, and nobody would use Eth L1 if it went live for the first time today. Ethereum has the first mover advantage of having all the liquidity. Whales don't care about a $200 fee, they care about liquidity. They need to move in and out of large positions quickly with as little price impact and slippage as possible. **7. Node Enhancements** This is not a scaling solution. Yes, fix your bugs and optimize your code. No other chain thinks a node update is a "scaling solution." This is ridiculous. Let me say this again: Cardano is currently 66,000x slower than Cosmos and Terra. **8. Side-chains** Great idea. But Cardano doesn't have any decentralized side-chains, and they didn't even get serious about funding any until late last summer. Proper sidechains are the real solution. Milkomeda is on the right track with their M1 sidechain. It's an accounts model Solidity EVM sidechain that has 32 permissioned nodes and uses slashing. Congratulations on abandoning all of your stated goals, and rushing to produce something usable. We waited six years so Catalyst could fund BSC 2.0. https://dcspark.gitbook.io/milkomeda/our-solution-1/the-m-1-sidechain **9. Hydra** A comprehensive plan for interhead Hydra implementation that approaches anything close to a generalized L2 has yet to be described, let alone developed. We're still waiting for a basic description of how isomorphic state channels will ever scale dApps or have any use between untrusted parties. Hydra's 2022 release schedule is for payment channels between trusted parties. Yes, it will be able to handle smart contracts, but not any smart contracts that dApps use. Hydra heads have to be closed every time a party joins or leaves, and they have no known application for dApps. Hydra is really irrelevant, because native UTXO transfers aren't the problem right now. https://np.reddit.com/r/cardano/comments/s18wie/should_cardano_be_prepared_to_abandon_hydra/?utm_medium=android_app&utm_source=share **10. Off-chain computing** >"Transactions occur outside of the blockchain itself, yet can offer fast, cheap transactions via a trust model." Brilliant. This is a creative solution. Off-chain **trusted** computations. *Finally something that makes sense.* Yes, Cardano users should definitely do their computations somewhere they trust, off-chain... Muhammad Fucking Christ. Let me suggest they do their computations on one of the 79 other L1 blockchains. Edit: there's a massive difference between off-chain to a trusted party and off-chain to decentralized, trustless rollup or side chain. They are not remotely the same. That's why Sundaeswap had to come up with the convoluted scooper model and Maladex wrote a book detailing their experimental solution to countering the specific vulnerabilities of off-chain code (some of which on-chain verification will never detect). In the YouTube link above, Sebastien from DC Spark says Cardano is years away from having rollups. **11.

PaulSnow

>*I said earlier it is currently overkill already. It is based on a budget system setup in 2009, and it was pretty conservative towards security.* > >How much less secure can it get before its a serious security issue? 2x? 10x? 20x? If you know its already over-budget for what it needs you should be able to put a ballpark figure on what it needs. Unless that would make Bitcoin either look too insecure if it was a low number, or too inefficient if it was a high number. In which case I fully understand that you don't want to say. I pretty much said as much when I said I don't see a problem for decades. * The hashing power has nothing to do with custodial control of tokens, all that breaking the hashing power does is allow for censorship and dominance of the rewards. * If Bitcoin is secure for say, 30 years, this would imply we have an excess of security in the order of four halvings, or 16x + * And over 30 years the budget for Bitcoin as a ratio of the value it protects will go down by more than a factor of 16x * Banks will not reduce their carbon footprint over the next 30 years by anything much at all. At least they have not released a plan to do so. >*Why? The real question is if Bitcoin has the ability to adjust if it is needed. And I'd say ,"yes it can".* > >So we can just re-institute block rewards if the security budget gets too low? > >What happened to the selling point of scarce, sound, hard, money of only 21,000,000 coins ever (less including lost coins!)? I guess they forgot to mention "unless the security model turns out to be unsustainable, in which case forget that part, we can change the supply rate to whatever we want later" Bitcoin in the end is a system maintained by people. I do not believe Bitcoin will fail in 30 years or 60 years even without any major change to rewards given for mining. Bitcoin has the advantage of spreading its control over many different people and total transparency and incentives spread out over many, many parties. >If you end up with an inflationary currency primarily traded through centralized financial institutions you've gone to a lot of effort to replicate something that will be fairly indistinguishable from CBDCs that won't have to waste resources on PoW, aside from the ideological selling point of "decentralization" which no one actually gives a fuck about as evidenced by the number of centralized coins in the top 10. 2 stable coins and Ripple? Number 3, 5, and 7? Combined are not worth more than Ethereum, much less Bitcoin. What is your point? How did we get here when we were talking about the efficiency of Bitcoin and the value of mining? >*Uhhh..... Where in the world did you get that idea? There was hardly any transactions on Bitcoin 12 years ago. I mean, less than 5 transactions per day. Peak transactions on chain was in 2017, but nothing has changed as far as capacity. The amount of value moved on chain continues to grow.* > >Just because not many people used Bitcoin back then doesn't mean the capacity wasn't higher. If a bus has 2 passengers in it, and a car has 3 passengers in it, does that mean the car can hold more people than the bus? > >Bitcoin didn't have a blocksize limit until 2010, and it was kept quiet until 2013, since it was implemented as an anti-spam measure. As always it defends attacks by making it more expensive to use. It's crazy anyone would claim its become more cost efficient over time when the entire security design is for it to become more expensive to use as it scales. Only. If. You. Only. Count. A. Subset. Of. Bitcoin. Transactions. If you count *every way* two people can exchange Bitcoin, Bitcoin has no limits and has vastly greater capacity today than any time in history, and less capacity than it will have in a year. And the year after that. And the year after that. Your whole argument amounts to my claim I am taller than my brother.... If you don't count his legs. Sorry, your google skills are great, but your understanding and knowledge of technology are lacking. I'll leave the change in Bitcoin that was "kept quiet until 2013" ... factually not true, but meh. Totally beside any point other than you are in an argument rather than in a discussion where we might both learn from each other. Anyway, for your enjoyment: >On the public repository, in main.c, on Jul 14, 2010, Satoshi changed: > >**static const unsigned int MAX\_SIZE = 0x02000000;** > >to > >**static const unsigned int MAX\_BLOCK\_SIZE = 1000000;** Wow. Super secret....

Castr0-

Now we know how is named BLOCK

BRman96

A couple of people in the Blocknet community discord tipped me big chunks adding up to 800 BLOCK. Worth +$1K back then! They decided to reward me for bringing the Blocknet to the attention of a YouTuber. It worked and he made a video about the project.

BRman96

Waged 1BLOCK in a game of rock paper scissors. I lost and still regret it.

video_dhara

Can anyone clarify something tax related having to do with crypto. Say you sell $300 dollars worth of crypto at a cost basis of $100, for a gain of $200 dollars. Obviously the $200 dollars is taxable income, *but is that sale of $300 all considered income*? If the $100 dollars I used to buy the crypto came from a different income stream, how is it now *also* property income? I ask because on HR BLOCK, they seem to consider the *total* for the sale as income, and not just the capital gain. This is problematic if you would otherwise qualify for certain insurance benefits if your income weren’t to go over the limit for eligibility. Any insight would be appreciated. I don’t know if it’s a glitch or basically income that’s *actually* counted twice.

Chanyuui1

You could even say that Russia got BLOCK chained.

notUrAvgCryptoFreak

TESLA, BLOCK AND BLOCKSTREAM TEAM UP TO MINE BITCOIN OFF SOLAR POWER PLANT IN TEXAS - CNBC Let's pump it !! hell yeah

GhostOfSkeletor

She was a young journalist hoping to finally land a huge story that would allow her to break through to the mainstream. She knew Satoshi had secrets…but also knew she’d be able to push past his defenses and get the real scoop. But how far would she go to gain Satoshi’s trust? Would she allow him to put her pussy on the blockchain, and what would it mean to be verified by 138,000 miners? Now she’s in too deep. Can her engineer friend help her get her life back, and at what cost? Coming this winter… GENESIS BLOCK: FUCKED BY THE BLOCKCHAIN a new erotic thriller

ApplicationOk6762

#BLOCK

LightninHooker

BLOCK airdrop for MARBLE happening tomorrow. MARBLE was an airdrop on JUNO which was an airdrop for ATOM I mean,shit is bananas. Get ATOM and stake those mofos on keplr if you want to do yourself a favor

stiviki

**BLOCK HIM!**

EvaUnit_03

WE GOT THE OLIGARCH BOIS! TELL THEM ALL TO BLOCK ALL HIS WALLETS! good luck trading with bitcoin now oligarch.

nerdiestnerdballer

Bitcoin would say "I DONT GIVE A FUCK TICK TOCK NEXT BLOCK"

JROD5195

Bullish on BLOCK

Romsel87

Bitcoin doesn't care that Russia is invading Ukraine. TICK TOCK NEXT BLOCK, STACK SATS IN MY SOCK.

tafor83

BARCELONA COURT ORDERS INTERNET PROVIDERS IN SPAIN TO BLOCK ACCESS TO SEVEN TORRENT SITES [https://www.musicbusinessworldwide.com/barcelona-court-orders-internet-providers-in-spain-to-block-access-to-seven-torrent-sites/](https://www.musicbusinessworldwide.com/barcelona-court-orders-internet-providers-in-spain-to-block-access-to-seven-torrent-sites/) Everything in crypto is reliant on an internet connection. The government is already the gatekeeper.

wodykody

Just the fact you have to have 100,000k Ada in your pool to even have a 10% chance of getting ONE FUCKING BLOCK per epoch is absolutely rediculous. "I know. I was a spo for 6 months... No rewards..."

RestaurantLast730

Yes, and more winning for the token holder. In the meantime, more goodnews is coming after the LUCKY BLOCK token burn and NFT is executed.

coinfeeds-bot

tldr; Intel’s play to get into the bitcoin mining market may find yourself being the story of the year. The chipmaker has launched a blockchain accelerator that has over 1000x higher efficiency per watt than mainstream GPUs for SHA-256 based mostly mining. Argo, BLOCK, and GRIID Infrastructure are among the first clients for this upcoming product. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Intel has announced plans to enter the Bitcoin mining market with an energy-efficient ASIC chip. Argo, BLOCK, and GRIID Infrastructure are among the first customers for the chip. The chip will have over 1000x better performance per watt than mainstream GPUs for SHA-256-based mining. Intel will engage and promote an open and secure blockchain ecosystem *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Intel is planning to release blockchain accelerators later this year and has lined up some big-name buyers, according to a blog post by Raja Koduri, a senior vice president of Intel's Accelerated Computing Systems and Graphics Group. Among its first customers for the accelerators are BLOCK, Argo Blockchain and the crypto mining startup Griid Infrastructure. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Intel has announced its plans to fully embrace blockchain technology and finally enter the bitcoin mining space with new chips that will be available later this year. The chip giant has developed a roadmap of energy-efficient accelerators that will ship in 2022. Argo, BLOCK and GRID infrastructure are among its first customers for this new product. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Intel has announced its plans to fully embrace blockchain technology and finally enter the bitcoin mining space with new chips that will be available later this year. The chip giant has developed a roadmap of energy-efficient accelerators that will ship in 2022. Argo, BLOCK and GRID infrastructure are among its first customers for this new product. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

greenappletree

Products get “unveiled” all the time but don’t make it to the market - what I think might be different here is this quote “Argo Blockchain, BLOCK (formerly known as Square), and GRIID Infrastructure are among our first customers for this upcoming product. “

coinfeeds-bot

tldr; Intel aims to develop blockchain technology by using “scalable and sustainable solutions” and will also “engage and promote an open and secure blockchain ecosystem” Argo, BLOCK, and GRIID have already become Intel’s customers. Intel claims to outperform SHA-256. Intel will be shipping its accelerator this year. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Intel's blockchain accelerator will ship in 2022. Argo, BLOCK (formerly known as Square) and GRIID Infrastructure are among Intel's first customers for this upcoming product. The architecture is implemented on a tiny piece of silicon so that it has minimal impact to the supply of current products. Intel Labs has dedicated decades of research into reliable cryptography, hashing techniques and ultra-low voltage circuits. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Intel will start selling a chip designed to mine bitcoin later this year. The company says it will ship an energy-efficient accelerator for crypto miners. Specifics on the chip will be detailed at this month's International Solid-State Circuits Conference. Argo, BLOCK, and GRIID Infrastructure will be among its earliest users. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Intel has announced that it's entering the cryptomining market. The chipmaker will begin delivering its Bonanza Mine ASICs this year to several large customers. It expects the Bitcoin mining market to grow by $2.8 billion from 2021-2025. Intel's first customers include BLOCK (formerly known as Square and helmed by Jack Dorsey), Argo, and GRIID Infrastructure. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

coinfeeds-bot

tldr; Intel has announced that it's entering the cryptomining market. The chipmaker will begin delivering its Bonanza Mine ASICs this year to several large customers. It expects the Bitcoin mining market to grow by $2.8 billion from 2021-2025. Intel's first customers include BLOCK (formerly known as Square and helmed by Jack Dorsey), Argo, and GRIID Infrastructure. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Born-Gur-2178

So far luckyblock is like 60% of my portfolio after I bought for a small amount in pre-sale so GO LUCKY BLOCK

raresanevoice

That's one I keep reading quite a bit about and am watching the fees drop, which is a good sign. Net fee per BLOCK is high but net fee per transaction is dropping, especially with roll-ups piling on. Do you think the Eth 2.0 will happen this year?

YaBastaaa

Ask HR BLOCK if they crypto tax preparations. I wonder how much are their fees

juve_merda

bullish on $BLOCK

igadjeed

In centralized payment systems, the gateway becomes gatekeeper - decides which transactions and participants are allowed or banned - because the system is centralized The purpose of Bitcoin is a payment system with no gatekeeper. Decentralization excludes gatekeepers Bitcoin is a decentralized node network. Every node has its own copy of the Bitcoin blockchain. Every Bitcoin node checks every new block, and all the transactions in the block **after the block is mined**. This is Bitcoin consensus Does the miner check all the transactions in the block? He doesn't have to. But if his block (or any of the block's transactions) has errors, the node network rejects the block. The sensible miner checks his block, to avoid wasting electricity mining a block which has errors. This is the miner's choice. It is not consensus Before mining, new unconfirmed transactions are propagated around the node network. Most nodes check transactions at this point. They don't have to. This checking is policy, not consensus > Many resources say that the double-spending problem is solved by the fact that the network uses the longest chain But you don't bother to link any of these "resources" in your post. It is a convenient shorthand to conflate these two things, as a cheap explanation of something more complicated. Whoever writes those statements is appeasing their readers' desire for simplicity, assumes all the readers are stupid, willing to accept inaccuracy The double spending problem is solved by the spending mechanism. Bitcoin spends coins. A coin can only be spent once, can only be spent completely. No partial spends. Bitcoin does not have accounts, does not spend from account balances or from wallet balances > couldn't you include two transactions in one block and therefore double spending? A miner could. Then he wins the mining race, sends his winning block to his neighbor nodes. Each node checks all the transactions, discovers two transactions spending the same coin, rejects the entire block. Then those few nodes which received that block from that miner do not propagate the block to their neighbor nodes. The block no longer exists > longest chain The 10-minute block interval is long enough for almost every mining race to have a single winner. Occasionally (less than once per month) two miners win the race at almost the same time. The world-wide nature of the node network, combined with normal network latency, allows those two blocks to propagate into different sets of nodes in the node network. This is a temporary chain fork, one block deep. Both forks are the same length. Each node is independent of all other nodes. So, every node behaves as if it has the correct chain. When the next block is mined, it extends the fork defined by the linking hash (PREV_BLOCK_HASH) in the new block's header. Now, one fork is longer. The nodes on the other fork will detect that PREV_BLOCK_HASH in the new block does not match the tip of their chain. They will ask their neighbors to send the missing previous block, and will reorg their chain tip by discarding the now-stale block You can see that double spending prevention is not directly related to resolving temporary chain forks (following the longest chain). But there is a possibility that the two different chain tip blocks had two different transactions spending the same coin. If a merchant's node receives the shorter-chain tip block, he may believe he has been paid. When that block is replaced and becomes stale, he will discover that he wasn't paid. This is the reason that merchants are advised to wait up to 6 confirmations. The longest chain mechanism chooses which transaction is valid. The consensus validation mechanism prevents double spending To reemphasize ... The consensus mechanism secures the blockchain. Checking block validity and transaction validity **after mining** is the only safe way to ensure that all 50,000 or more nodes have the same transaction history. Nodes do not trust pre-mining transaction verification (policy). Nodes do not trust miners. Also, nodes do not trust nodes. When a node validates a block and propagates the block to its neighbor nodes, every node repeats the consensus validation. Every node operates independently, proving that the new block is valid before adding it to its own blockchain

RulingFieldConfirmed

On taxes, wtf do I say for “date acquired” ? HR BLOCK won’t let me write “various”

Accomplished_Low6186

Unless you invest in LUCKY BLOCK right now

Accomplished_Low6186

Also heard the same about LUCKY BLOCK

Accomplished_Low6186

None yet, been happy with all. Especially with LUCKY BLOCK 🍀

Accomplished_Low6186

Invest in LUCKY BLOCK This is financial advice.

Accomplished_Low6186

Great year. ESPECIALLY for LUCKY BLOCK

Accomplished_Low6186

YOU NEED TO INVEST IN #LUCKY BLOCK Please do yourself this favor.

mb10110

BLANK Wallet has rebranded to BLOCK Wallet and the mainet release date will be announced tmr. No wonder it's pumping in a sea of red 🤣

AutoModerator

Post is by: Awhodothey and the url/text [ ](https://goo.gl/GP6ppk)is: /r/CryptoCurrency/comments/s7pjy5/12_reasons_cardano_cant_scale_in_2022/ This post is a reality check on IOHK's latest investor disinformation campaign: https://iohk.io/en/blog/posts/2022/01/14/how-we-re-scaling-cardano-in-2022/ It's great to see they are starting to acknowledge Cardano's scalability problem, or at least pumping the brakes on their unsubstantiated claims of having solved the trilemma. For the first time, 2021 saw the Cardano community publicly acknowledge some of the limitations of their design that critics have pointed out for years. We've come a long way since IOHK was still pretending this was almost ready to go: https://nitter.net/iohk_charles/status/1287481374224420864 **1. BLOCK SIZE/ 2. MEMORY/ 3. STORAGE INCREASES** The bigger the blocks, the higher the memory, and the more storage- the faster the chain. Basically every chain that isn't already run on super computers can increase blocksizes, memory or storage requirements if they are OK with more centralization and less stability. That's the trade off. That's true for Cardano, and it's true for every other chain. But how much room does Cardano have to increase parameters? Cardano already has pretty much the same blocksize as Ethereum (72Kb vs ETH's average of 80Kb) and dramatic increases in blocksize will decrease the number of people who can afford to run nodes, and it also makes the network more likely to fork. The theoretical max limit is 28x the current blocksize, but that is almost certainly not practically possible, and no one supports increasing it to even half of that (which is about the most that has ever been tested), because increasing the blocksize isn't free. How critical is it for Cardano to maintain as small of blocksizes as possible? Critical enough that the plan is to only increase in 12.5% intervals when absolutely necessary. The fact that anyone is at all hesitant to increase Cardano's limit when it's 72kb tells you that this isn't a free trade. There is no plan to ever reach max parameters. https://np.reddit.com/r/cardano/comments/pf25jk/without_hydra_cardano_probably_wont_be_faster/?utm_medium=android_app&utm_source=share What makes Cardano fundamentally slower than every other chain is how bloated their tx sizes are. We've all heard the sales pitch "And Cardano has native tokens that don't need smart contracts!," but what you didn't get told is that native UTXO txs on Cardano are an average of 500 bytes WITHOUT smart contracts. And that a basic, native tx is larger than the average Ethereum tx WITH smart contracts. And no, the "And Cardano can combine 20 txs into 1 !" meme doesn't make any difference. The size and speed of each block is all the same regardless of whether you call it 1 tx or 20tx's. The only thing combining txs does is make Cardano significantly cheaper to DDOS. https://messari.io/asset/ethereum/metrics/network-activity Native Cardano UTXOs are bigger than the average Ethereum tx, and Plutus smart contracts txs are even bigger that - a lot bigger- like 40x the size of Ethereum smart contracts: **Sundaeswap determined that the Cardano network was their primary bottle neck and measured Cardano's real-world throughput for their smart contracts to be 0.15 TPS.** That's 47x slower than a native UTXO on Cardano, 100x slower than an Ethereum tx, and 66,000x slower than a Cosmos and Terra tx. 0.15 TPS is a max of 12,960 txs per day, under ideal conditions... on the entire Cardano chain. https://sundaeswap-finance.medium.com/expectations-congestion-mainnet-launch-e9da5abfd819 Cardano's problem is much bigger than anything that can be fixed with a 2x parameter adjustment. Max parameters will never be implemented, and even then, they would still leave Cardano more than 3x slower than the second slowest L1 chain, Ethereum. **4. Pipe Lining and 5. Input Endorsers ** ...are great ideas. So why are these still in the research phase? They're promising to deliver a plan that hasn't even been designed yet. Let's assume these get designed and developed in 2022. Then Cardano is in the ballpark of Ethereum L1's low tps and high congestion. **6. Plutus Script Enhancements** These are basic functions (that are still in the research phase because of how they conflict with provability in Hydra). Plutus should not even have been released before they developed reference and data inputs. That was an obvious problem, and it was a huge mistake that will create chaos and disappointment. https://m.youtube.com/watch?v=3dc6zG9EjWE&t=37m30s Cardano will alway have much larger txs than non-UTXO chains because native UTXOs are so large. On top of that, Plutus' smart contract implementation is extremely bloated and inefficient. The problem is that Cardano's UTXO model can't store smart contracts on-chain. So instead of calling an on-chain smart contract, every Cardano SC tx must include the SC script in every tx, because there is no on-chain SC that can simply be referenced again and again. This makes every Cardano smart contract very large. Cardano currently does native asset txs (without smart contracts) at 7 TPS, and that's the theoretical minimum SC size, if they figure out how to compress SCs 47x. And that means that Cardano SCs will always be at least twice as slow as Ethereum L1's unbearably slow 15 TPS, for the same blocksize. Now is a good time to point out that it's clear from their rhetorical focus of comparing their chain to the next slowest chain, that Cardano holders have no idea how slow Ethereum is. Up to this point in time, almost all of Cardano's txs have been basic UTXO's that haven't filled up blocks, because they are a small fraction of the size of smart contracts. Four months after going live, no one really uses smart contracts on Cardano yet. Muesliswap doesn't even have $100 Million in TVL (and doesn't have $5M in liquidity to other tokens). Small NFT drops did bring the network to a crawl, but we haven't seen speeds across the whole network change dramatically like they will when Sundaeswap launches a real DEX and much bigger txs flood the chain Thursday. And catching up to Ethereum L1 will not be good enough. Ethereum has L2s already, and nobody would use Eth L1 if it went live for the first time today. Ethereum has the first mover advantage of having all the liquidity. Whales don't care about a $200 fee, they care about liquidity. They need to move in and out of large positions quickly with as little price impact and slippage as possible. **7. Node Enhancements** This is not a scaling solution. Yes, fix your bugs and optimize your code. No other chain thinks a node update is a "scaling solution." This is ridiculous. Let me say this again: Cardano is currently 66,000x slower than Cosmos and Terra. Your inability to figure out a trustless lite client is irrelevant right now. **8. Side-chains** Great idea. But Cardano doesn't have any decentralized side-chains, and they didn't even get serious about funding any until late last summer. Proper sidechains are the real solution. Milkomeda is on the right track with their M1 sidechain. It's a accounts model Solidity EVM sidechain that has 32 permissioned nodes and uses slashing. Congratulations on abandoning all of your stated goals, and rushing to produce something usable. We waited six years so Catalyst could fund BSC 2.0. https://dcspark.gitbook.io/milkomeda/our-solution-1/the-m-1-sidechain **9. Hydra** A comprehensive plan for interhead Hydra implementation that approaches anything close to a generalized L2 has yet to be described, let alone developed. We're still waiting for a basic description of how isomorphic state channels will ever scale dApps or have any use between untrusted parties. Hydra's 2022 release schedule is for payment channels between trusted parties. Yes, it will be able to handle smart contracts, but not any smart contracts that dApps use. Hydra heads have to be closed every time a party joins or leaves, and they have no known application for dApps. Hydra is really irrelevant, because native UTXO transfers aren't the problem right now. https://np.reddit.com/r/cardano/comments/s18wie/should_cardano_be_prepared_to_abandon_hydra/?utm_medium=android_app&utm_source=share **10. Off-chain computing** Brilliant. This is a creative solution. Off-chain trusted computations. *Finally something that makes sense.* Yes, Cardano users should definitely do their computations somewhere they trust, off-chain... Muhammad Fucking Christ. Let me suggest they do their computations on one of the 79 other L1 blockchains. **11. Mithril** >To achieve greater scalability, you need to address the complexity of critical operations that depend logarithmically on the number of participants. What? This is straight gibberish. Mithril is obviously not a relevant scaling solution. Mithril is a solution to a problem that many other chains don't even have. Even Ethereum can run a trustless lite client. Wtf does that have to do with how slow Cardano SCs are? **12. Fees** The short term consequence of Sundaeswap's launch will be a DDOS attack. Txs across the entire Cardano network will take days to process. I predict that Sundaeswap will be forced to throttle their volume, so that the rest of the chain is usable. Best case scenario for EOY 2022, Cardano users can expect Ethereum L1 tx speeds, if everything goes right. And Cardano has another problem they still haven't solved that Ethereum doesn't have. Slow blockchains require high fees, and Cardano doesn't have dynamic fees. Price fixing always creates shortages. They need dynamic fees. There's no way around supply and demand. Everyone has been saying Cardano's fee model wouldn't work for years. IOHK is just now taking the question seriously, and their recent moves on fees makes it clear that they have no idea what they are doing. People don't pay fees for fun. The fees are the only thing that make Ethereum us

dirtbagbok

Bought my first STRONG nodes back in march 2021 when strong was $77 - been making me passive income ever since. Cardano DEX's Axie infinity ... Yet you still don't know about STRONG BLOCK I think you should check it out bro serious lol. Fello crypto enthusiast to another this ain't no shitcoin bro I swear to you. Cryptographtaz on telegram when you want some more gems ;)