Segwit on Testnet Supports 1.7 MB Blocks With 8800+ Transactions

Bitcoin Core’s scaling solution Segregated Witness (Segwit) will likely support 1.7 MB bitcoin blocks when activated, testnet experiments have revealed.

According to Smartbit, a bitcoin testnet data provider, Segwit is currently able to process 1.7 MB blocks on the bitcoin testnet, with more than 8,865 transactions. The current bitcoin blockchain capped with a 1 MB block size can only handle around 2,500 transactions.

However, the transactions processed on the testnet were p2pkh transactions. Although the standard 1 MB blocks are limited to process around 2,500 transactions, they can still handle 5,235 p2pkh transactions in each block.

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Alternatively stated, the activation of Segwit will likely result in a 75 percent increase on the current 1 MB block size if implemented in an optimum ecosystem.

On November 23, bitcoin trader and analyst WhalePanda introduced a testnet experiment conducted by the Bitfury analytics team shared by the BitFury Group chief information officer Alex Petrov. While the types of transactions settled in Segwit-enabled blocks could vary, the Bitfury analytics team’s research concluded that 1.7 MB was the average block size based on their experiment conducted on the bitcoin testnet.

More importantly, WhalePanda noted that 1.7 MB is theoretical and other numbers such as 2.1 MB or Lightning co-author Thaddeus Dryja’s 3.7 MB are also all hypothetical. The only issue with Segwit which the miners, especially the Chinese mining community struggles to deal with, is that it can’t guarantee a specific block size due to a wide range of variables including different transaction types and circumstances.

In January of this year, Dryja noted that his experiments on the bitcoin testnet demonstrated the capability of Segwit to handle 3.7 MB blocks. He explained:

“I have a script that will spam testnet and make 3.7MB blocks. It’s not a 800KB regular block with txids and output scripts, and a 2.9MB witness block with just a bunch of signatures. It’s a single block, that looks pretty much the same as old blocks with a few extra requirements, that’s 3.7MB.”

The on-chain capacity expansion suggested or discovered by Dryja is a 3.7x increase to the current standard 1 MB block size. Dryja’s discovery offers a significantly different perception of Segwit’s on-chain capacity increase in comparison to Petrov and the Bitfury team’s research. This huge gap, which at this stage is completely theoretical and based on assumptions, should be the main discussion point of Segwit activation.

As explained by security experts such as Andreas Antonopoulos in the past, Segwit is more than a conventional block size increase solution. Its advantages derives from its ability to fix transaction malleability, provide infrastructure for two-layer solutions and overall, optimize the bitcoin network. Some experts described Segwit as a “Swiss army knife of a scaling solution.”

In fact, Slush, the CEO and IT architect of Satoshi Labs, the parent company of bitcoin hardware wallet manufacturer Trezor, stated:

“Bitcoin as Gold is Bitcoin without Segwit. Just activate it and whole world of new applications and solutions will appear.”

The only question left for the community to consider is, what happens if Segwit is activated and it does not provide on-chain scaling that is on par with the community’s expectation? What if Segwit’s 1.7 to 3.7x theoretical increase is not sufficient enough to scale the network?

Then, the community can begin to consider the possibility of expanding the block size of Segwit-enabled bitcoin blockchain.

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Real Estate Mogul: Here’s Why You Should Buy

Real Estate Mogul: Here's Why You Should Buy | Simplifying The Market

Real Estate Mogul: Here’s Why You Should Buy

Wednesday April 26th, 2017 First Time Home BuyersFor Buyers

 

Real Estate mogul, Sean Conlon, host of The Deed: Chicago on CNBC, was recently asked the question, should you buy? Or should you rent a house?

Conlon responded:

“I am a true believer that you save every penny and you buy your first house… and that is still the fastest path to wealth in this country.”

Conlon went on to suggest that first-time buyers put down 10-20% “if they can make it work,” and to remain in their home at least 4-5 years to see a return on their investment.

Who is Sean Conlon, and why should you listen to his advice?

Within a few years of working in the real estate industry, Conlon had established himself as one of the leading agents in the United States and has founded 3 billion-dollar brokerages dealing in residential, commercial and investment sales. Since immigrating to America from the United Kingdom in 1990, he believes very strongly in the American Dream and the role that homeownership plays in achieving it. Conlon is quoted on his website as saying:

“I treat people the way I would like to be treated if I went in to buy a house and I work harder than anybody I know. I think if you do that in America, you will always succeed.”

Bottom Line

Homeownership is an investment you can leverage against in the future that not only provides shelter and safety but also helps you build your family’s wealth. If you are debating whether or not to purchase a home this year, let’s get together to discuss the opportunities available in today’s market!

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Cryptocurrency Inflation V Deflation

cryptocurrency inflation v deflation

Cryptocurrency Inflation v Deflation
 

In the world of cryptocurrency, there are two main types of ecosystems. Either a cryptocurrency is inflationary – with new coins generated by mining or staking – or it is deflationary. A lot of people claim bitcoin’s deflationary status is a problem, and how minor inflation could alleviate these concerns. However, there are different aspects of either concept that need to be taken into account first.
 

1. DEFLATION
 

Most cryptocurrency enthusiasts are well aware of how bitcoin has a fixed supply cap of 21 million coins. It is expected the last bitcoin will be mined around the year 2140, even though a large portion of the available supply is in circulation already. Some financial experts claim bitcoin’s capped coin supply is a problem, as it makes the popular cryptocurrency deflationary. Since no additional coins will be brought into circulation from that point forward, there will be no more inflation for bitcoin.
 

Deflation in the traditional financial ecosystem is a bad thing. Then again, cryptocurrencies such as bitcoin cannot be compared to any other currency in the world, thus making it a rather moot point. It is also a clear indication of how most economists are stuck in their old ways of thinking. Deflation is often associated with economies that not performing all that well. In most cases, deflation leads to falling prices. If that were to happen to bitcoin, things could go from bad to worse rather quickly.

 

One thing to keep in mind is how during times of financial hardship, consumers are not investing but flocking to liquid currency. For bitcoin, that could be a good thing, as it may even lead to future prosperity. From a long-term perspective, deflationary currencies are by far the better option. In bitcoin’s case, deflation will – probably – cause a rise in value. There is no real reason to think deflation is bad for bitcoin by any means.

 

2. INFLATION
 

Every major traditional currency known to man is inflationary. There is no hard limit as to how many US Dollars, Euros, or Pounds Sterling there can be at any given time. Central banks can use a technique called “helicopter money” to introduce more bills and coins to an ecosystem if they see the need to do so. With more money to go around, they hope to improve the financial situation for their specific region.

 

Inflation also has a nasty side effect that most people tend to overlook. As the supply of an available currency continues to grow, it makes the previously existing supply worth a bit less. In the world of cryptocurrency, there are two types of inflation: proof-of-work and proof-of-stake. The first option makes bitcoin an inflationary currency until all 21 million BTC have been generated. Proof-of-stake allows for a virtually unlimited coin supply even when there are no longer mining rewards to be distributed.

 

Although a lot of people see no harm in inflationary cryptocurrencies, it provides a bit of a problem when it comes to estimating a coin’s value. Since there are more coins every day, inflationary cryptocurrencies cannot be labeled as a store of value per se. Interestingly enough, some of the major cryptocurrencies have decided to take the inflationary approach, including Ethereum – switching to proof-of-stake soon – and Dash. Other currencies, such as Litecoin, have taken the same model as bitcoin, effectively limiting their supply. From a store of value point-of-view, deflationary cryptocurrencies are the better option, by the look of things.

David Ogden
Entrepreneur

 

Contributor JP Buntinx

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Bitcoin surpasses GOLD..AGAIN!! Making this Round 2… Will it hold?

thearcanebear57 in bitcoin
Fun little moment…

Bitcoin has had its amazing runs, and to see it for the second time surpass gold; is absolutely amazing. These are crazy times, banks are in negative interest rates in many places around the world. A "la la" land revolving around this ever prevalent debt scheme. This is a good sing, it means even the traditional investor is forced to look at this technology. For those who don;'t know about blockchain and are in the banking industry. They should probably quite and find something new.
Prices sourced from Google and   http://goldprice.org

Arcane Conclusions

WE are still getting used to the future, and our outlook is bright., Hard times ahead, but many amazing things to look forward to.
Thank you for joining our Journey  Tijo http://@thearcane

http://www.arcanebear.com

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Trump asked all US ambassadors appointed by Obama to leave office by January 20th. Isn’t that unreasonable, and does this make him thin-skinned?

Katy Burton
Written 32m ago
This question makes me sad for our country. It shows how divided and hateful we have become over the past eight years. Many people disagree with ANYthing President Trump does. It doesn’t seem to matter if it is good or bad, right or wrong, or that other presidents have done the exact same thing. The simple fact that President Trump did it makes it wrong or bad to so many. Those people aren’t thinking objectively (if they are even thinking at all). Their hateful little minds are made up before the situation even presents itself. This is childish and is certainly not benefiting our country.

For the people who are criticizing the appointed Ambassadors not having been given “enough time” before they were replaced, are you telling me those Ambassadors are ignorant? It is nothing new. Wouldn’t/ shouldn’t they have been anticipating it?

What about the “peaceful transition of power” that Hillary was counseling Trump about before the election? You know, when she and 0bama thought she would win. 0bama just couldn’t do enough in his last days to subvert Trump’s administration with his hasty executive orders after her loss.

I don’t expect everyone to agree with everything President Trump does, but neither do I expect criticism for good things. I thought the people of America were better than that. He is piloting our plane, people. Do you really want to do all you can to ensure he crashes? Because America goes down with him.

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Breaking: SEC reviewing Bitcoin ETF rejection

Bitcoin ETF rejection under review?

According to reports out within the last hour, the SEC (Securities and Exchange Commission) plans on reviewing it's decision to reject the Winklevoss ETF from just over 1 month ago.

The release can be seen here: https://www.cryptocoinsnews.com/breaking-sec-will-review-decision-winklevoss-bitcoin-etf-rejection/

The SEC originally decided to rule against the Winklevoss ETF proposal citing a lack of market surveillance and regulation. Specifically, the SEC rejected a rule change that would have allowed the ETF to be included on the BATS BZX exchange.

Once the original rejection was obtained, BATS applied for a review of the decision from the SEC. As of this morning it is looking like that review has been granted. 

It is interesting that the SEC is reviewing the decision considering they just declined the approval of another Bitcoin ETF no more than 2 weeks ago. That makes 2 Bitcoin ETF rejections in the last month alone.

Even more interesting is that it appears an Ethereum ETF proposal is now also being mulled over by the SEC. It can be seen here:

http://www.coindesk.com/sec-now-weighing-ethereum-etf-proposal/

So, now we have a Bitcoin ETF rejection review in the works as well as an Ethereum ETF proposal in the works…

It doesn't seem like the day is far off when we will see one of these cryptocurrenices trading via an ETF on a major US Stock Exchange.

Perhaps maybe even Steem one day?! 😉

Bitcoin and Ethereum are both up near their all time highs on the news.

Sources: http://www.coindesk.com/sec-orders-review-winklevoss-bitcoin-etf-rejection/

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Steem Dollars are now selling for $1.50 on Poloniex! Take advantage of this odd situation now!

bitcoinmeister63 in steemit
What is going on with the price? No time to research. This is a unique opportunity for holders of Steem dollars. They should only be around $1. Good luck. If you appreciate up to the minute cryptocurrency news like this then follow me here and on Twitter (@techbalt) and sub to my youtube channel.

https://twitter.com/TechBalt/status/856892306418434050

https://www.youtube.com/user/BaltimoreHourly/videos

EDIT: Thanks @bbkoopsta for suggesting that the crazy Tether situation might have something to do with this. Perhaps people who want a stable $1 crypto are flocking into Steem Dollars and ironically making Steem Dollars not so stable at $1 (to the way up side though!)

More Tether/Steem dollar info here:  http://https://steemit.com/tether/@acidyo/tether-vs-steem-dollars

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COIN MARKET CAP TO HIT 31 BILLION

As more people become aware of cryptocurrency and more countries look at the possibility of accepting bitcoin as a legal payment method, the confidence in this market is reflected by the amount of money that pours into it. Three months ago, the market cap had approximately 25 billion dollars. Today, the same market has matured with $30.8 billion in capital. The questions remain the same as three months ago. Where is it going from here? How far is this going?
There is nothing but excitement to see coins like DigiByte, Einsteinium, PinkCoin, etc, making their entrance into the big circus of cryptocurrencies. I know that there is more than enough room for all of them and that we will see them grow along to the Cryptocurrency Market.  By melip50  in cryptocurrency

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Exscudo releases preview video of Channels App ahead of ICO

https://youtu.be/Ec3LzMjyN38

geocurt36 in exscudo

Today the Exscduo team published a video showing the functionality of Channels in a test environment. Though admittedly the video is a bit rough around the edges, the simplicity and features this platform provides continue to intrigue me.
What I find appealing about Channels is that it has the speed and simplicity of a coin-shifting service like Changelly or ShapeShift along with the accessibility of fiat currency. I'm not aware of another service that provides all of this, and with exchanges beginning to struggle with withdrawals and deposits in fiat there could not be a better time for this exchange to launch.
I certainly expect there to be challenges with fiat integration, and many people who love cryptocurrency value it for the lack of regulation and oversight – but the reality is it will not make it's way to the masses without OPTIONS that include this oversight.
If you're interested you can learn more about Channels here here. The ICO portal is here.

I think the app looks outstanding for a first release and I look forward to trying it out. It's slated for release Q2, as is the Exscudo exchange which will serve as the engine behind the app. The app will be released on both Android and iOS.

Quick reminder that I'm only sharing my thoughts here. I'm not an expert, and I'm not giving advice. All investments carry risk and each individual should perform due diligence prior to any investment. I am receiving NO BENEFIT from Exscudo for this post nor am I affiliated with them. I WILL purchase EON tokens in the auction.

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Ms Design Free Premium Templates for Blogging and How To enable Blog Comments

Design of your Blog matters the most and it is essential for your further blogging career. There are many offers for free themes that you can download online but the real hassle begins afterwords when you need to use magic tricks to tweak the theme and customize it the way you saw on the Internet. From my personal experience i can suggest you the best free premium theme available online.

Blogging is supposed to be fun, opportunity to turn your passion into profit and gain online popularity with your sense of business and knowledge.
Opposite to this, blogging most of the times turns into converting yourself into It geek or web designer, there are tons of things you need to do by yourself as for your theme design to look pretty at the end.

Many free online themes offered for CMS Blogger are not complete and tweaking the theme is not that fun, especially when you need to copy thousands of html codes and scripts.

Ms Design Free Premium Templates for Blogger just made your life easy by providing simple and easy to use admin control. Simple Tutorial in provided online documentation ,how to install the theme and the most importantly you can reach the support even with free downloaded theme from them. 

I have chosen Ms Design Sure Mag theme for my Blog because I love posts by label on Home Page. They are well organized and easy to navigate.

Check Out:

Ms Design Top 32 Free  Blogger Templates 2017 for Professional Blog
They have done great job and I can highly recommend theirs Templates to use for your Blogger Blogs.

Recently I have been looking for some tutorial on how to show blog comments in custom blogger themes and to be honest I couldn't find many answers, the moment my mind was hit by the solution.
So If your custom Blogger template has option for Blog comments the only thing you need to do is to check on setting on you blogger.

Go to Settings>Post, Comments and set to Embedded

Now check if your blog comments are showing below the posts. If not you need to finish this step to. Edit your Post>Options>Enable Allow Comments

Now Your Blog Comments will appear below blog posts:

That's It. Let me know which Ms Design Blogger Template you like the most and would use on your blog :)?
Happy Blogging ❤

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