“Small” online purchase law said bitcoin mining machine can be seven days no reason to return?

B online shopping platform A is a technology company in order to buy 10 sets of bitcoin mining machine, the full payment in advance, according to the shopping platform, bitcoin mining machine for the sale of the product, after three months after delivery, A, for personal reasons, do not want to buy orders of the bitcoin mining machine, then contact B apply for a refund, the delivery period not to, A single bitcoin mining machine is not shipped, but B does not accept refund reason A, refused to refund. After B, according to the agreed time delivery, after the arrival of the A after the goods were rejected, returned after the B express company, to sign, B A issued a notice in the exhortation to the designated place to take the goods within 7 days after receipt of the notification, or in accordance with the ownerless processing, the resulting consequences borne by A. A said, according to the “measures” management of network transactions, he shall have the right to receive the goods within seven days no reason to return, B shall refund after receiving the return.

So, in this case, the A based on the adequacy of a refund? He can ask for a refund to seven days no reason to return “as an excuse?

A said, “the network transaction management approach” is based on the “consumer protection law” and other laws and regulations. “Consumer protection law”, the operators sell commodities on the Internet, television, telephone, mail order, consumers have the right to return within seven days from the date of receipt of goods, and without justification. On the other, the “consumer protection law” also stipulates that consumers need for life purchase and use of goods or services, protection of its rights under the law; the law does not stipulate, protected by other relevant laws and regulations.

To note here is the focus of the “consumer” and “for daily consumption”.

Consumption and production management is a relative concept, living consumption is people consume products or services to meet the needs of the behavior and process of life, production and operation as input, output, sales, product distribution activities. The disputed goods in this case for bitcoin mining machine, bitcoin mining machine is a special machine bitcoin is generated, its purpose is to buy A for the production of specialized bitcoin products, its behavior is funding the purchase of production materials in the production tool behavior, so A is not out of consumer need to buy bitcoin mills, does not belong to the “consumer protection law” the scope of protection, therefore, should not apply to seven days no reason to return the relevant provisions.

The women’s investment bitcoin fooled interprovincial police cracked the network fraud case recovered 2 million 700 thousand

Recently, the Nanjing provincial police after 2 months of follow-up, successfully destroyed a large inter provincial communication network fraud Gang, arresting more than 70 people in one fell swoop.

At the beginning of June, Ms. Deng lived in Jiangning through the net selling a man claiming to be “Liu Jianjun”, Liu to Ms. Deng recommended a bitcoin investment platform in Liu’s egg, Ms. Deng has four times through the platform of investment totaling about 2700000, during the account can not always in the end lose, then vote last 1 million 100 thousand, Ms. Deng found platform “open”, which means that 2 million 700 thousand yuan in the account of all losses, even it owed $more than 60 thousand platform. Ms. Deng cheated the suspect to the police. After receiving the report, the Public Security Bureau in Jiangning high tech Zone police dispatched elite police task force composed of Fuzhou, eventually locked in an office building of two suspected dens. In September 27th, Nanjing police deployed more than 80 police officers to Fuzhou. The assistance of the local police, the police task force decisive attack, destroyed in one fell swoop Xu LED large inter provincial network fraud gang. The morning of December 18th, the Nanjing police recovered 2 million 700 thousand officially returned to the victim Ms. deng.

(Editor: Li Jialing)

Blockstream launched fifth bitcoin blockchain satellite broadcasting

12 17 April Forbes reports, block chain development company Blockstream is expanding its satellite service range, is now to the earth in all major terrestrial radio (BTC) bitcoin blockchain.

By adding a fifth leased satellite, brings a potential without the Internet bitcoin transactions and information sharing more extensive coverage for encryption currency users in the Asia Pacific region. The satellite service is still in the testing phase, so far have been in Africa, Europe, South America and North America launched.

According to reports, Blockstream also launched a new application programming interface (API), which allows the satellite to be used to exchange encrypted messages, and the use of flash small Internet payment to payment. Blockstream CSO Samson Mow this move will be placed in the background, he said: “bitcoin has always been about not audit funds, we also have the communication is not auditable now.”

As Forbes overview that aspiring bitcoin space program to remove encryption currency using the dependence on the Internet, and to maximize the bitcoin network security. Blockstream CEO Adam Back told Forbes: “we see bitcoin enhanced the stability of the network, participate in cost reduction, help enterprises to rely on the service backup, and make emerging market with low cost has become the main visitor of the bitcoin network.”

With the latest extension, Blockstream satellite coverage of the whole earth, in addition to Greenland and Antarctica and other remote areas. In addition, the satellite is now streaming data covering all historical bitcoin transaction data, rather than the early iteration project that only before transmission block.

For the first time in August 2017 when it announced its satellite project, the goal of Blockstream is to free internet access in the global network limited and more limited under the condition of “connecting everyone on the planet”.

According to reports, the launch of bitcoin relay satellite is not a new idea, bitcoin pioneer Jeff Garzik BitSat in 2014 to achieve this goal, although the project seems to have stalled.

Take you in the bitcoin exchange, the bull market will come again

In a few days, bitcoin is the creation of block 10th anniversary anniversary, launched a bitcoin enthusiasts from the exchange took all bitcoin activities to celebrate the birth of the block .

The campaigners said in January 3, 2019 that bitcoin 10th anniversary Memorial Day, all of us should get their BTC to control personal wallet address. Then we will know whether the exchange really have to keep our assets, and we can also know how much real bitcoin in the world users.

Is the sponsor in the activities of the time in a week, a number of bitcoin by the good response to the appeal, claiming that they will be in London at about 4 in the morning began to take my digital assets.

The promoters did not appear in public, and this is likely to be a real sense of credit, do not let people recall ten years ago of the subprime crisis .

Of course, not everyone thinks it is a good idea. Ordinary users unless the use of hardware wallet, or how to safely store the encrypted personal assets will be first placed in front of the user, after all, every person can love bitcoin is not a cryptography expert.

On the other hand, many exchanges have closed. Such as the famous MT.Gox because of hacker attacks caused the loss and the exchange of bankruptcy. Unlike banks, MT.Gox does not have the ability to bear the loss, can only choose to take legal proceedings for bankruptcy protection in japan.

After the 2014 exchange have been closed due to poor management, like BTC-e, although it did not suffer hacking, but still did not live in the long-term bear market today.

Generally speaking, the exchange will have a hot wallet, accounting for all digital assets 5%-10% , hot wallet connected to the Internet to support user currency services, so this part of the funds may be hacked. But every exchange should have a cold wallet, most digital assets are stored in the offline wallet.

So even if the encrypted currency exchange online wallet funds suffered losses, the exchange can still use cold wallet assets to meet the needs of the customers.

Just recently, the famous cold wallet exchange Bitfinex seems to have some problems, because the changes with the block chain passes the market value of the general exchange of cold wallet balance will be a corresponding, but more than a month, the public address without any transfer of information.

The last trading activity of Bitfinex public address occurred in November 2nd. Prior to this, the address has been money exchanges, but since then, there is no related transaction.

Especially in the last month, because bitcoin prices fell sharply, sure of ATM business, but this did not produce any transaction address.

Therefore, people have launched the exchange Centralized currency activities To test, all exchanges really have kept the user’s digital assets.

Perhaps this action will make part of the exchange in trouble, maybe no one will care about this activity, and even some people will put this activity as a plot of the exchange, but this is a celebration of the ten birthday of bitcoin fun way.

After all, only his own pocket bitcoin is the real bitcoin. The exchange is only a safe deposit box, in case of accident is not responsible for what, exchange for you, after all, the private key is not his own control.

In take you in exchange for bitcoins, the bull market will come again. My answer is, at least it can promote the arrival of the bull market, and give you a deeper understanding of what is their assets.

2018 is the speculators hell, bitcoiner of heaven: 8 bitcoin progress can not be ignored

Bitcoin, this year is a year of polarization: although prices fell 83% in 2018, but it still made great progress. When speculators see prices continue to fall, they will not see the bitcoin network achievements — but no matter how the price, the development of bitcoin continues.

In the past 1 years, the popularity rate of bitcoin is more wide, institutional investors began to participate, improved code also continued, which proved its good future.

This is a list of the upcoming 2019, bitcoin glory years in 2018 “”.

1. isolated witness penetration rate

Isolation of witness (SegWit) is the bitcoin protocol upgrade, officially activated in last summer. The number of upgrades to the bitcoin trading block has been improved.

Isolated witness through so that transactions become more “light” to reduce the required capacity, because it no longer needs to contain the witness information, and also supports lightning network layer 2 technical scheme.

The main obstacle is that the popularity of isolation to witness the wallet and the exchange must be compatible from traditional bitcoin address to witness the address transformation and isolation. This year, almost all the major exchanges and wallet manufacturers have begun to accept the isolation witness address, including Coinbase, Bitfinex, Ledger and Trezor etc.. The isolation rate of witness popularity increased from 10% to 40%.

This is a great progress in bitcoin, especially when the witness is activated isolation has experienced many twists and turns.

2. institutional investors

This year, bitcoin ETF did not pass is considered to be a major shortcoming, but we certainly see more and more institutional investors began to accept bitcoin. Fidelity Investments, Yale University, the New York stock exchange and Square Inc. are interested in this field.

Fidelity Investments specifically for institutional investors to launch a bitcoin and etheric Fang assets such as service platform, the investment company currently manages assets has reached 7.2 trillion.

Yale has established a $30 million endowment fund, made a strategic investment in the field of encryption (it is reported that bitcoin assets accounted for the largest proportion of investment).

The New York stock exchange parent company Intercontinental Exchange announced the establishment of a dedicated digital asset of the company Bakkt. Bakkt will launch a one-day delivery bitcoin futures products in January 2019. The company also said it will Boston Consulting and Starbucks, Group and Microsoft together, to provide support for the development of this industry.

The mobile payment service The Cash Square Inc. research App from the beginning of this year to allow the United States to users in the trading of bitcoins. Square CEO Jack Dorsey is also on twitter CEO. The The Cash App had been on board the iOS and Android equipment downloads list of the first – this is a very significant development, because investors bitcoin become more convenient.

Lightning network penetration rate of 3.

For most bitcoin supporters, lightning network is their preferred layer 2 expansion project. The pledge on the network bitcoin value has more than 200 million, the number of nodes also realized the leap from 0 to 4400.

4. growth

This year, the bitcoin network is increased by nearly 60%, which means the important infrastructure investment is more and more big, the bitcoin network safety and predictability will be more and more high.

Is the network promotion means more and more health, launched 51% attacks will be more difficult. Bitcoin network force growth is likely because the mining giant admission brought more equipment caused by. This year we also witnessed the stress and difficulty of high.

5. progress code

Progress in Schnorr Signatures and repair some significant vulnerabilities is the focus of the development of bitcoin this year. In the short term may not be integrated into the Schnorr Signatures Bitcoin Core, provides a solution for privacy but progress of this code for bitcoin expansion, indicates that the digital books privacy technology is an important step.

In this code let bitcoin transaction privacy become possible, privacy is the bitcoin missing link. Bitcoin Core developers are constantly seeking to improve the network programs, never stop “toss”.

In addition, Core developers have successfully repaired a legacy code problem for two years in the Bitcoin Core, and the information publicity. They also help Bitcoin Cash to repair the vulnerability.

6. more independent users

Address number usually measure for the popularity of bitcoin rate, the number increased by 50% in the year.

However, note that this is not a measure of accurate method of penetration, because a user can hold multiple address; but it is still the most effective statistical method.

Even if the market in the winter, the popularity of bitcoin still did not stop. “What is bitcoin bitcoin 2018 boarded the hot search list in some countries.

7. fierce competition

2017 years, we have witnessed the most controversial bitcoin history of hard – Bitcoin (BCH) Cash bifurcation bifurcation. After the bifurcation, many people think that BCH can go beyond bitcoin in price.

By 2018, BCH prices fell sharply, there is a split network. Although everyone will have different views, but many community participants believe these differences are positive for the future development of the network.

BCH is not the only bitcoin “Challenger” – and ICO in 2017 after the fever, bitcoin market value accounting has increased by 16%, reaching a record high.

8. lower fee

This year, bitcoin average fee reduced from 28 dollars to 0.3 dollars, this is bitcoin prices due to a great extent. In order to calculate the bitcoin network, the average transaction cost decreased by about 97%, which is obviously more friendly to the admission of new users.

Lower fees for bitcoin is a good thing? Maybe. On the one hand, the fee for the protection of network security is very important, in addition to the factors outside the driving action of the miners block award. After the total bitcoin reaches the upper limit, block reward does not exist, the incentive fee will be the only income of miners…… The only way to protect the network security of both: fees or inflation.

On the other hand, last year bitcoin fees soared to $50, and the transaction confirmation need to wait several hours, therefore, bitcoin transaction cost and speed has become the object of criticism of the people.

In order to optimize the user experience and security, network cost baseline is undoubtedly a crucial point in 2018, we may have reached a reasonable range.

The road is long, Hodl

The 8 progress bitcoin indicates that it will have a more bright future. A year later, maybe we will recall one of the greatest achievements of bitcoin achieved in 2018 during the bear market, the price is low enough to allow us to hoard more.

In 2019 we can see the Bakkt delivery bitcoin bitcoin ETF futures products; perhaps by lightning; network will also face more rapid growth.

Hold the hands of bitcoin, perhaps next year is the volatility of the year.

Who is in control of Bitcoin Core?

编者按:本文来自碳链价值(ID:cc-value),本文作者:Jameson Lopp,编译:Morpho Hawkes、Diana ,Odaily星球日报经授权转载。

有一个问题,每隔一段时间就有人提出一遍:究竟是谁在控制比特币核心的 GitHub 代码仓库?(注:代码仓库原文 repository,指一种特殊的文件服务器,也叫“版本管理工具”,可以随时把文件恢复到某个时间点的旧版本。)过去几年中,不同各方都引用这个问题,说是比特币协议的“中央控制点”。但我认为,这问题本身就是误导人的假问题,是从威权主义角度生发出来的;这个模式并不适合比特币。外行人一听,显然不会明白,为什么会这样呢?于是我写了这篇文章,说明一下,比特币核心是怎么操作的;在更高层级上,比特币协议自身又是怎么演进的。

比特币核心的历史

比特币核心是比特币协议开发的焦点,而非命令与控制点。倘若因为什么原因,这个焦点停止存在了,就会有一个新的焦点冒出来。比特币核心依赖的基础——技术交流平台(目前是 GitHub 代码仓库),是因为便利而存在的,不是因为定义 / 项目的完整性而存在的。现实中,比特币的开发焦点已经更换了平台,甚至更换了名称!

  • 2009 年初,比特币项目的源代码只是一个 rar 压缩包,存在 SourceForge 服务器上。早期的开发者会用电邮跟中本聪交换代码补丁。

  • 2009 年 10 月 30 日,Sirius(真名 Martti Malmi)在 SourceForge 网站上创建了一个 subversion 代码仓库。

  • 2011 年,比特币项目从 SourceForge 迁移到 GitHub。

  • 2014 年,比特币项目更名“Bitcoin Core”( 比特币核心)。

不相信任何人

GitHub 的组织层面上,确实有不多几个 “维护人员” 的账户,能够将代码合并到 “主分支”;然而这种地位不是权力的象征,只是类似“看守” 的身份。试想,若是不论张三李四都能把代码合并到主分支,很快就会变成 “厨子多了做坏了汤” 的结果。比特币核心遵守“最小特权原则”(principle of least privilege,简称 POLP),也就是任何人只要滥用权力,就会被轻易推翻。

谁在控制Bitcoin Core?从对抗角度来看,GitHub 是不能被信任的。GitHub 任何员工都可以运用管理特权,将代码注入代码仓库,无需经过维护人员的同意。但是,GitHub 的攻击者却几乎不可能损害比特币核心维护人员的 PGP 密钥(注:PGP key,一种加密系统,把公开密钥加密与传统密钥加密相结合。)

Bitcoin Core 并没有将代码的完整性建立在 GitHub 账户上,他们有一个连续的集成系统,执行那些受信任的 PGP 密钥的校验;这些密钥必须签署每一份 “合并提交”。这些密钥的确跟身份已知的某些人相关,但依然不能担保情况永远会这样而不变——某个密钥可能会受到损害,我们也不会知道密钥受到损害,除非原始的密钥主人通知了其他的维护人员。如此一来,“提交密钥” 也就不提供完美的安全保护,只是让攻击者插入 “任意代码” 的难度提高了。

通向王国的密钥

我写这篇文章的时候,受信任的 PGP 指纹如下:

71A3B16735405025D447E8F274810B012346C9A6133EAC179436F14A5CF1B794860FEB804E66932032EE5C4C3FA15CCADB46ABE529D4BCB6416F53ECB8B3F1C0E58C15DB6A81D30C3648A882F4316B9BCA03882CB1FC067B5D3ACFE4D300116E1C875A3D

这些指纹注册到:

Wladimir J. van der Laan <laanwj@protonmail.com>

Pieter Wuille <pieter.wuille@gmail.com>

Jonas Schnelli <dev@jonasschnelli.ch>

Marco Falke <marco.falke@tum.de>

Samuel Dobson <dobsonsa68@gmail.com>

这是否意味着我们就相信这五个人呢?不太对。密钥不是身份的证明;这些密钥有可能落到别人手中。我要是运行了 verify-commits 的 python 脚本,我有什么保证呢?

python3 contrib / verify-commits / verify-commits.py

使用来自 bitcoin / contrib / verify-commits 的 verify-commits 数据

所有 Tree-SHA512s 都匹配到 309bf16257b2395ce502017be627186b749ee749

有一条从 “HEAD” 到 82bcf405f6db1d55b684a1f63a4aabad376cdad7 的有效路径,其中所有提交都已签名!

verify-commits 脚本是一种完整性校验,随便什么开发者都能将其在自家机器上运行。执行的时候,脚本会校验每一份合并提交的 PGP 签名。从 2015 年 12 月第一次提交 82bcf405 开始,到我写这篇文章为止,共有 3,400 多份合并提交。如果脚本成功完成,它告诉我们自那时以来已经更改的每一行代码都已通过比特币核心开发过程并由具有维护者密钥的人“签字”。当然,这还不足以百分百确认不会有人插入恶意代码(维护人员可能也使坏,或者密钥被盗);但这一措施确实能减少大规模攻击的可能性。那么,维护人员又是什么人?他们怎么获得这个身份?我们稍后会深入研究。 

多层安全系统

比特币核心代码的完整性不能仅仅依赖于少数加密密钥,这就是为什么存在大量其他检查的原因。这里有许多安全层来提供深度防御:

Pull 请求安全

1、不论什么人都有权提议改动节点,以改进软件。其方法是开启一个针对 bitcoin/bitcoin 上主分支的“拉取请求”。

2、开发者们会评估各个拉取请求,确保这些请求不是有害的。不论是谁,都有权评估各个拉取请求,并提供反馈。只要是为了比特币核心作出贡献,就没有 “看门人” 或者 “入学考试” 筛选合格的贡献者。如果某个拉取请求发展到这样一种地步,并没有合理的反对意见反对它合并到主分支,那就会有一个维护人员执行合并。

3、Core 维护者会设定预 push 钩,以确保不会有人把未经签字确认的 “提交”“推入” 代码仓库。

4、各项“合并提交”,会通过 OpenTimestamps 协议,安全地打上时间戳。打戳行为是可选的,不是必要的。

5、“Travis 持续集成系统”将定期运行这个脚本,以检查 git tree(历史)的完整性,而且验证所有主分支上的 “提交” 都已经由某一个受信任的 PGP 密钥签了名。

6、不论是谁,只要想运行,就可以运行这个脚本,以验证从 2015 年 12 月开始的一切 “合并提交” 上的 PGP 签名。我在写这篇文章的时候,就运行了这个脚本,在我的笔电上 25 分钟就运行完了。

发布安全

1、“Gitian 确定性构建系统”是一种编译解决方案。这系统由多个开发者独立运行,目标是创建相同的二进制文件。假设某人成功创建了一个不符合其他开发者的构建系统,就表示引入了 “非确定性”(non-determinism),于是“最终发行” 就不会发生。如果存在非确定性,开发者就会追踪哪里出了问题,修复问题,再构建另外一种发行候选版本(release candidate)。一旦 “确定性构建” 成功,开发者就会对生成的二进制文件进行签名,确保这些二进制文件和工具链都没有受到损害,而且使用了相同的源。这个办法避免了让构建和分配流程变成一种“单点故障”。任何具有技术的人都可以运行自己的构建系统。操作说明在这里:https://github.com/bitcoin-core/docs/blob/master/gitian-building.md

2、一旦 Gitian 构建成功完成并由构建者签名,就会有一个 Bitcoin Core 的维护者,用每个构建的 SHA256 哈希值,给一条信息进行 PGP 签名。如果你决定运行预先构建的二进制文件,就可以先下载,然后验证它的哈希值;然后使用哈希值验证签名版本消息的真实性。这里是操作说明:https://bitcoincore.org/en/download/

3、以上这些全都是开源的,可审计的;任何人只要有技术,有意愿,都可以执行。

4、最后,即使在进行了以上一切的质量与完整性检查之后,提交到 Bitcoin Core 并最后成功发布的代码依然不会被任何中心化的组织部署到节点网络上。相反,每个节点操作员必须有意识地决定更新他们运行的代码。Bitcoin Core 故意没有设置自动更新功能,让用户可自行决定需要运行什么版本的代码,否则这个系统就可能被操纵。

尽管比特币核心有了一切技术上的安全手段,然而这些手段没有一种是完美的,也全都有理论上被损害的可能性。比特币核心代码完整性的最后一道防线,与任何其他开源项目的最后一道防线是一样的——时刻保持警惕!关注比特币核心代码的眼睛越多,恶意代码或者有缺陷代码,就越难以进入发布阶段。

代码覆盖率

Bitcoin Core 有很多测试代码,其中包括一个完整性测试组件,可以用来测试所有 PR;还有一种扩展测试套件,可以每晚在主分支上运行。

你可以自行检查各种测试的代码覆盖率,方法是:

克隆一个比特币核心 GitHub 代码仓库;

安装所需的从源代码构建的依赖项;

运行这些命令;

在 ./total_coverage/index.html 查看报告。

除此以外,你还可以查看比特币软件维护者 Marco Falke 主持的的覆盖率报告,地址是 https://drahtbot.github.io/reports/coverage/bitcoin/bitcoin/master/total.coverage/index.html

谁在控制Bitcoin Core?代码覆盖率水平越高,意味着代码按照预期执行功能的确定性也越高。

若想在关键的软件上达成共识,测试就是一件大事。对于某些特别复杂的改动,开发者有时候要进行痛苦的“变异测试”,也就是故意破坏密码,看看各个测试有没有按照预期而失败。比特币开发者 Greg Maxwell(在 2017 年)比特币核心 0.15 发布的时候,专门讨论过这种变异测试:

“测试是软件的测试,但怎么对测试进行测试?就是用软件。为了对测试进行测试,必须破坏软件。”

自由市场竞争

比特币期货平台 BitMEX 写过一篇名为《与比特币核心竞争》的文章,论述各种 “比特币部署” 的生态系统,这篇文章非常棒。当前,比特币的 “兼容部署” 有十几种,甚至还有更多的 “竞争网络” 部署。这就是 “开源” 的自由:只要哪个人对比特币核心项目的做法有所不满,就可以建立自己的项目。他们可以从零开始,也可以选择去分叉 Core 软件。

在我写作本文时,96% 的比特币节点是运行 Bitcoin Core 软件的。为什么会是这样?倘若某人切换到另一种软件部署只需要极小的努力,那么比特币核心为什么又会在节点网络中处于类似垄断的状态?毕竟,很多其他部署,所提供的 RPC API,都与比特币核心兼容,或者起码也跟比特币核心高度相似。

谁在控制Bitcoin Core?我相信,这是因为 Bitcoin Core 成为了开发的焦点。Core 拥有数量级更多的开发人才和开发时间的支持,这意味着 Bitcoin Core 项目的代码往往是性能最高、最安全和最稳健的。在有限的资金下,节点运营商只想运行最好的软件,不想运行质量第二的软件。此外,考虑到 Bitcoin Core 是一种共识软件,比特币协议不具有并且也不能具有正式的规范(因为谁也没有权限制定这么一个规范),所以使用焦点实现会更为安全。因为假设你运行的是其他版本的软件,对于网络的大多数节点而言,你的节点可能就是一个 bug。从这个意义上来讲,开发焦点的代码就成了现实中最接近规范的东西了。

谁是比特币核心开发者?

那些不熟悉比特币核心开发过程的人,可能会从外部观察这个项目,认为 “Core” 是一个大一统的实体。大错特错!核心贡献者之间常有分歧,而且就算那些最多产的贡献者,也写了很多代码,从没有合并入核心项目。你看看 “贡献者” 的指导方针,就可能会注意到,这方针的原则宽松得很,最多也只能说成一种“大略的共识”。

维护人员会考虑,某个补丁是否符合项目的一般原则,是否符合 “纳入” 的最低标准。维护人员会判断各位贡献者的一般共识。

维护人员都是谁呢?他们是一些特殊的贡献者。他们已经通过较长时间的高质量的贡献,在项目内部构建了足够的社会资本。现有的维护人员团体,只要认为某个贡献者已经在某特定领域展示了能力、可靠性、动机,有资格当上维护人员,就会把 “提交的访问权” 授予这位贡献者的 GitHub 账户。“维护人员领导”的作用,是监管项目的一切方面,并负责协调各次代码发布。这几年来,“维护人员领导”的头衔自愿更替了几次:

  • 中本聪:2009/1/3-2011/2/23

  • Gavin Andresen:2011/2/23-2014/4/7

  • Wladimir van der Laan:2014/4/7 – 现在

比特币核心维护人员的职责,经常被人比作“看门人”,因为维护人员实际上并没有权力作出决定,反对贡献者或者用户的集体共识。不过,这一职责的任务却可能相当繁重,因为大生态系统会特别注意这一职责。

比如,2017 年,Gregory Maxwell 就因为个人原因而辞去了维护人员的职务(具体见 https://www.reddit.com/r/Bitcoin/comments/3x7mrr/gmaxwell_unullc_no_longer_a_bitcoin_committer_on/cy29vkx/),很可能是因为公开辩论升级,面临的舆论压力太大了。Wladimir 写了一篇有深意的帖子,说的就是担任维护人员压力多么大,还说了为什么应该取消 Gavin 的提交权限(撤了他的职),这帖子让很多人很不高兴。

还有一个类似的情况:GitHub 组织曾经开除了 Jeff Garzik,Jeff 和其他人都非常恼火。但是,Jeff 的错误在于,他整整两年没有为核心作出贡献了。组织再继续让 Jeff 的 GitHub 账户拥有代码仓库的写入权限,对项目也没有好处了,反而凭空增加了安全风险,也违反了“最小特权原则”。这原则,Wladimir 在帖子里专门提到了。

还有其他人可能会观察 Core,认为 Core 是一个技术官僚群体,或是象牙塔,很难让新的参与者加入进来。然而,只要你跟那些贡献者真正交流过,就会发现不是这样。这几年确实只有少数几个人拥有提交权限,但却有数百名开发者已经作出了贡献。我自己也作了几个小贡献,虽然我不自认为是“核心开发者”,从技术上却算是一名核心开发者。谁也不能不让你作出贡献!   

谁在控制Bitcoin Core?

谁在控制Bitcoin Core?

最难以让人们理解的,似乎是这样一个问题:比特币开发的关注点,并不仅仅是由比特币核心 GitHub 账户定义的那个结构。确实,比特币核心是有一种结构的(使用中心化的交流渠道,为了方便协调),但项目本身却不受任何参与者控制,甚至不受那些对 GitHub 代码仓库有高级特权的人控制。从技术上说,确实有可能让一群维护人员发动 “政变”,黑进 GitHub 代码仓库,审查那些异议开发者,甚至还能保持“比特币核心” 这个品牌名称;但结果就会是,比特币核心不再成为开发关注点了。这种政变万一真的出现了,那些不同意维护人员的开发者,就会直接让代码分叉,把自己的工作换到另一个代码仓库,换到比特币核心维护人员没有管理权限的地方。

就算不是真正的“政变”,如果核心真的发生了有争议的变化,还是会有一些开发者将软件分叉,除掉那个有争议的变化,然后对用户发布。历史上,Amaury Sechet 曾经让比特币核心分叉,在功能上除掉了“隔离见证”,创造了 Bitcoin ABC。你可以认为,当时发生的就是这种情况。另外,如果某些人提议作出某些变化,而核心否决了这些提议的变化,开发者也可以将核心分叉,加上这些变化。历史上这种事情发生了很多次,例如:

  • Mike Hearn 将核心分叉,创造了 Bitcoin XT

  • Andrew Stone 将核心分叉,创造了 Bitcoin Unlimited

  • Jeff Garzik 将核心分叉,创造了 BTC1

将代码分叉容易,可是改变比特币开发的焦点就难了。你必须说服贡献者:“你们的时间最好能花在我这个不一样的项目上!”

谁在控制Bitcoin Core?你也很难说服许多人,让他们相信,用户们并不盲目跟从 Bitcoin Coire 作出的各种变化。这可能是一个自我强化的信念,因为如果用户不通过保持对选项的了解来参与共识的过程,他们就会把部分权力让给开发人员。不过,2017 年,用户的权力已经通过 “用户激活软分叉” 运动(注:User Activated Soft Fork,简称 UASF,一种解决区块链扩容辩论的方法,又名 “紧急共识”)得到了行使。当时,有个比特币的匿名开发者,用假名“shaolinfry” 提出 BIP 148,强迫矿工在 8 月 1 日前后要出现 “区块高度” 时激活 “隔离见证” 功能。但是,BIP 148 的争议实在太大,比特币核心无法采用。于是,shaolinfry 将核心分叉,发行了软件 Bitcoin UASF。这一软件部署获得了非凡的“牵引力”,而且似乎创造了足够的压力,能让矿工采用 BIP 91,从而在 BIP 148 截止日期之前激活分叉。

我个人认为,最好的 Bitcoin Core 贡献者,是那些践行了极端所有权的人。举个典型例子:下图中这个特定的共识 bug 所在的代码,虽然并不是贡献者 John Newbery 自己写出来的,但他认为自己没有认真检查,而让这 bug 代码合并了;事后在写测试案例的时候,也没有查出来,所以自己要承担责任。

谁在控制Bitcoin Core?我们都是中本聪。

为 Bitcoin Core 做出贡献

虽然有足够的资源可以帮助那些有抱负的开发者,但是迈出第一步为 Core 做贡献,依然可能让人望而生畏。此处可以找到贡献的指导方针:https://bitcoincore.org/en/faq/contributing-code/

但我更推荐从 Jimmy Song 写的简易入门开始:

https://medium.com/m/global-identity?redirectUrl=https%3A%2F%2Fbitcointechtalk.com%2Fa-gentle-introduction-to-bitcoin-core-development-fdc95eaee6b8

此外,核心开发者 Eric Lombrozo 也写了一篇文章,方便人们理解核心代码仓库里的种种变化:

https://medium.com/@elombrozo/the-bitcoin-core-merge-process-74687a09d81d

还有一个特殊案例可能对你有用:在撰写本文时,为了审计 GitHub 提交历史的完整性,我在我的机器上运行 verify-commit.py 脚本;这个运行过程,正好遇到了一些困难。为了不让以后的开发者遇到同样难题,我开启了一个 “pull 请求” 用来改进存档过程。为了防止未来的开发人员不得不处理这些问题,我打开了一个 pull 请求来改进文档。从 PR 历史中可以看出,4 个不同的开发人员就如何改进我的 pull 请求提出了建议。这包括使用不同的 wiki 标记,简化的 bash 命令,以及可以在 verify-commit.py 脚本中使用的新参数。我同意所有的建议都是有道理的,所以我把它们合并到我的代码中,并推送了一个更新版的 pull 请求。此时,参与审查的开发人员承认,他们发现 PR 是可以接受的,维护人员 Marco Falke 将其标记为包含在 0.18 版本中。几天过去了,开发人员没有异议,代码被维护人员 Samuel Dobson 合并到了 Core 软件当中。

谁在控制比特币?

多年来我反复说过,想要完全理解作为 “体系” 的比特币,几乎是不可能的。比特币协议的定义(控制),就好比语言的定义一样。语言是人类自发产生的,对于词义的共识,是有机的、生活中的共识,而不是让词典决定意义。词典的作用是描述一种语言的客观现象,而不是给语言下定义;同样,比特币的部署,也是用代码描述比特币的语言。不可能强迫任何人同意某词典对某词的定义,也不可能强迫任何人同意某特定比特币部署里的代码(方法是运行这一代码)。

言语不受民主体制的管辖,比特币也不受民主体制的管辖。你可能会听说人们提到一些概念,如矿工、节点、开发者、用户投票等等;却没有这样的机制,可以促成任何种类的“多数人投票”,强迫少数异议人士接受那些自己反对的变化。比特币是一种无政府主义,没有统治者,但依然有着规矩。规矩由网络中每一个参与者定义,由每一个参与者强制执行。

比特币协议本身的各种变化,一般通过 “比特币改进提议” 的流程实现。不过,哪怕这个提议,也只是一种推荐的操作方式,并不能强迫任何人遵守。只是一种相对规范的途径,想要通过同行评审,构建共识的办法来引导实现一种变化。

我知道,要解释这一切很困难,要明白也很困难。但是,这就是比特币 “抗脆弱性” 的关键方面。如果有了“单点控制”,也就成了“单点故障”。如果那些有权有势的机构受到比特币带来的威胁,他们就会充分利用这一点对比特币进行攻击。(但这种事在现实中绝不会发生。)最终,每一个节点运营商都会自我治理,方法就是确保网络中其他所有人都不会破坏自己认可的规矩。这种安全模型,就是比特币自下而上治理的基础。

没有人控制比特币。

也没有人控制比特币开发的焦点。

The interpretation of data 12 19 April chain: currency moving round the trend early, short-term rebound is expected to continue

Block chain Market Overview

Tokenview -BTC market turnover of US $6 billion 148 million in 24 hours

According to Tokenview.com, 24 hours turnover ranking in turnover ranked first in the BTC, the 24 hours turnover of 61.48 billion dollars, accounting for 32.9%; No. 2 is USDT, the 24 hours turnover of 47.83 billion dollars, accounting for 25.59%; No. 3 is ETH, the 24 hours turnover of 24.49 billion dollars, accounting for 13.11%; the No. 4 is EOS, the 24 hours turnover of 13.78 billion dollars, accounting for 7.37%; No. 5 is XRP, the 24 hours turnover of 8.0 billion dollars, accounting for 4.28%.

BTC data daily

The interpretation of data chain in December 19th: BTC market gradually active, short-term rebound is expected to continue

According to Tokenview.com, yesterday BTC active address number is 597329, representing a decline of 10.7% the day before yesterday, representing a decline of 2.74% near 7 on BTC daily active address number; yesterday BTC new address number is 316797, representing a decline of 1.19% 7 BTC on the day before yesterday, near the new daily increase in the number of 7.92%. BTC nearly 24 hours on the chain of transactions amounted to 1392969.08 BTC 24, an hour ago rose 13.57%. Yesterday BTC single over 100 BTC large transfers totaling 1290 pen, the increased 16.53%.

The analysis thinks, BTC transactions and large transfers of continuous rise, multiple currencies began turns up. The vitality of the short-term market a slight recovery, more likely to continue to rebound.

 The interpretation of data 12 19 April chain: currency moving round the trend early, short-term rebound is expected to continue

Tokenview AI BTC to predict the short-term market bullish, support: 3612.42 USD: 3783.14 USD pressure

 

BTC rich list index

BTC top 10 account holdings accounted for 5.30%;

11-50 account holdings accounted for 5.10%;

51-200 account holdings accounted for 1.06%;

The remaining number of account holders accounted for 88.54%.

 The interpretation of data 12 19 April chain: currency moving round the trend early, short-term rebound is expected to continue

ETH data daily

The interpretation of data: data ETH December 19th chain chain decline, market outlook is expected to rebound to reduce

According to Tokenview.com data show that active ETH address yesterday at 376979, down 4.16% compared to the day before yesterday, down 6.74% compared to nearly 7 ETH daily active address number; ETH new address yesterday at 109330, up 2.46% compared to the day before yesterday, nearly 7 ETH daily new address number decreased by 18.75%. Yesterday ETH single over 1000 ETH large transfers totaling 341, down 21.25% compared to the day before yesterday, with nearly 7 daily average number of large transfers decreased by 82.38%.

 The interpretation of data 12 19 April chain: currency moving round the trend early, short-term rebound is expected to continue

Tokenview AI ETH: the short-term market forecast market bullish trend, support: 97.82 USD pressure: 105.31 USD

 

ETH rich list index

The ETH top 10 account holdings accounted for 22.83%;

11-50 account holdings accounted for 16.17%;

51-200 account holdings accounted for 19.06%;

The remaining number of account holders accounted for 41.94%.

 The interpretation of data 12 19 April chain: currency moving round the trend early, short-term rebound is expected to continue

The calculated stress and mining profit

Tokenview data of the whole network is currently | BTC 33.85 EH/s

According to Tokenview data show that the current BTC network is 33.85 EH/s ETH, the whole network is 166.81 TH/s BCH, the whole network is 1.1 EH/s.

Today BTC mining earnings of $0.19 / day /THash/s, increased 41.98% yesterday;

ETH mining earnings of $0.01 / day /MHash/s, increased by 4.72% compared with yesterday;

BCH mining earnings of $0.17 / day /THash/s, increased by 8.81% compared with yesterday;

LTC mining earnings of $2.59 / day /GHash/s, increased by 16.7% compared with yesterday;

XMR mining earnings of $0.29 / day /KHash/s, increased by 5.15% compared with yesterday;

DASH mining earnings of $0.04 / day /GHash/s, increased by 3.64% compared with yesterday;

ZCASH mining profits for the $0.14 / day /KHash/s, representing a decline of 4.64% yesterday;

ZEN mining earnings of $0.12 / day /KHash/s, down 2.45% compared to yesterday;

ETC mining profits for the $0.01 / day /GHash/s, increased 2.97% yesterday;

BTM mining earnings of $0.2 / day /KHash/s, increased 2.35% yesterday;

DOGE mining earnings of $0.23 / day /GHash/s, increased by 1.32% compared with yesterday;

VTC mining earnings of $0.68 / day /GHash/s, increased by 6.21% compared with yesterday;

FTC mining profits for the $0.17 / day /MHash/s, increased 3.73% yesterday;

NMC mining profits for the $0.04 / day /PHash/s, increased 28.52% yesterday;

DGB mining earnings of $0 per day is None 0.0% /GHash/s, yesterday;

RVN mining profits for the $0.03 / day /MHash/s, increased 8.23% yesterday;

BCHSV mining earnings of $0.14 / day /THash/s, down 0.63% compared to yesterday;

ZCL mining earnings of $0.13 / day /KHash/s, increased by 3.99% compared with yesterday;

XZC mining earnings of $2.15 / day /MHash/s, down 8.04% compared to yesterday.

 

Bitcoin prices fell, the blockchain involvement and investment value?

I believe many people have heard or read about a chain block, block chain article, in the beginning of this year, new and old game player was trumpeting “technological revolution blockchain come”, “block chain to achieve financial freedom”, “digital currency gold period”. As a result of… The first successful block chain technology the application of bitcoin suffered a “winter period, prices diving, numerous game player began shouting: bitcoin is dead! The blockchain is dead! Then, bitcoin blockchain and really dead?

Of course not, it’s just a coin ring game player exaggerated grief. The main reason is that the price change radically, in 2017 years, and the growth rate of bitcoin blockchain outbreak, bitcoin LED digital currency rose too high, the results this year, bitcoin prices continued to decline, investors worried about the future of digital currency, investment become cautious, will naturally fall. According to the relevant data show that the number of currency speculation, has more than 18 million people, many digital currency is more than 2414. The bitcoin prices, currency circle game player are subject to different degrees of natural loss.

Bitcoin is a digital currency, as a virtual currency, nature has its own set of rules, only run in the bitcoin community, limiting the total amount of 2100 million, all transactions are both directly related to check the original owners in accordance with the transaction records can. This will involve mining, bitcoin will from time to time, randomly distributed, although the computer graphics can be normal operation, but in order to successfully obtain the game player will buy, is high machine operators, equipment manufacturers, spawned mining mines and other related industries, with the indirect employment. Bitcoin fell, their business is affected, cause a series of chain reaction, such as equipment prices, machine sold by catty, countless mine collapse.

Coin ring game player mood fluctuation is normal, bitcoin prices almost cut, many game player funds trapped. Bitcoin in the hands of a few game player hands, nature also has certain disadvantages. Bitcoin purchasing power is limited, running in the bitcoin community, buy and sell in this circle. Capital is profit driven, using their own advantages, hot bitcoin constantly. The capital above advertisement, invest a lot of money, publicity bitcoin subtle can become rich, let bitcoin worth constantly pulled, then leave the capital, leaving the new game player waiting for appreciation, so the cycle time. Bitcoin development so far, has been falling, not just this year greatly.

Bitcoin rich ability obviously there is no doubt that even a currency of a villa “. In 2017, bitcoin is reached its peak. However, people only see the increasing interest, thus ignoring the risk, when the bitcoin bearing not dream, prices began to fall, is a normal phenomenon, but the rate of decline is too large, causing the attention of people. You know, in 2017, bitcoin prices appear abnormal fluctuations, the central bank interviewed bitcoin Chinese, subsequently issued a series of measures such as inventory, rectification, indirect let many domestic game player to avoid the storm. However, bitcoin is not dead, but investors began to become rational, there are still a lot of game player optimistic about its future.

A lot of people will bitcoin is a microcosm of the blockchain, but bitcoin is not the blockchain, can only say that bitcoin is based on the block chain. Just because of the rise of bitcoin, subtle so that people will be confused and bitcoin blockchain. Block chain is as a kind of technology, the original concept was proposed in 1991, in 2008, the founder of bitcoin Nakamoto and perfected the concept of reference block chain. Then, using the block chain technology, build the first block of bitcoin. Bitcoin’s success, so many encryption currency to follow, the blockchain system has also been improved. In fact, the blockchain technology has been combined with the new field, to be used. In daily life, often use the ant payment service, one of the results is regional chain.

Bitcoin fell, there are still investment value, there are a lot of game player on. Bitcoin market demand, will naturally promote the development of related industries. Bitcoin as a member of the blockchain, prices, block chain involvement. However, although the heat block chain decreased, but the financing is still growing. According to the “November 2018 global financial development index (GFI) and the financial report” shows that in the field of finance, financing is more and more block chain 26 pen payments and 11 pen. Compared with the digital currency, investors are clearly more optimistic about the block chain technology. Thus, the block chain is not dead, is still growing. The scope of the regional chain more widely, so back to the temperature speed, obviously a little faster. Bitcoin is a digital currency value of the largest and most famous, bitcoin in the peak when the price of $20 thousand, but I believe that many people don’t know much about bitcoin, you want to know, you can see “decrypt bitcoin”.

Whether bitcoin investment, or block chain related industries, as long as the investment project, there must be a risk. Must be combined with their own actual situation, to analysis the feasibility of the project, do not blindly into the city. Would you choose hunters bitcoin?

Kharak Carrack launched a bitcoin discount shopping platform

When the currency fell, the owner can use digital currency bitcoin from Jingdong to discount shopping currency prices make up a loss. A month ago, Kharak after the Carrack to prepare for a few months, launched a bitcoin shopping discount platform.

As everyone knows bitcoin initially as a point of cash was invented, and today it is not as a means of payment in daily life, which is mainly in exchange for people to speculate. Carrack’s vision is a virtual currency than to stay in the area of investment, to virtual currency can be used as a real means of payment. Now if you have bitcoin, you can through the use of Carrack services in jd.com shopping. This service can be put to the use of virtual money shopping in large shopping site shoppers, and by helping to get shoppers to buy virtual currency buyers, both sides want to complete the deal.

Shoppers from the Jingdong (shopper) shopping, enjoy discounts, Carrack 10%. The discount is low, the more easily traded. The operation steps are simple, choose to buy goods at the end of “Jingdong. Copy and paste the Jingdong page links in the text box, fill in the delivery address, add goods is complete. At this time, shoppers need to be transferred to the bitcoin platform. Other work is handed over to the purchasing platform and completed.

Purchasing (buyer) can be understood as the intermediary between shoppers and Jingdong, they pay to send money for shoppers to buy goods from jd.com. To confirm the shoppers after receipt of goods, the platform will shoppers pay bitcoin to purchasing. The purchasing power in that can be obtained from outside the bitcoin exchange.

This complex process? Someone will love this way of shopping? The key is whether the purpose of the parties can reach Carrack, may have one of their shopping experience will be better.

Bitcoin futures is how to operate and how to be manipulated

With the bitcoin market crazy, the whole market for the upcoming launch of bitcoin futures and cheer, first in CBOE, then in CME, bitcoin therefore reached the highest point in history.

They put the mainstream bitcoin futures as institutional investors accept bitcoin is approaching, signs of “To Da moon”. Fast forward to today, this feeling is just the opposite: tramps only scratching, licking the wounds.

So, what happened?

Although there are many factors in bitcoin so far into the worst bear market, but we can not ignore the potential negative impact on the futures market.

In this paper, I will look at how futures contracts are used to distort the market, and why the contract delivery is an important characteristic of futures contracts.

But first, let us start from the theory of futures.

Physical delivery and cash

The futures contract, one is the main type of financial market contracts, Include Cash settled futures and related basic assets physical delivery futures.

When you use the cash settlement of futures, you just bet on the price of the underlying asset. You will be posted as collateral on a certain number of futures contract, the collateral will be adjusted according to the profit and loss of future futures contract.

The cash and futures of real contrast

After the expiration of the contract, the exchange will only cash settlement of futures trading, do not exchange any underlying assets. It is mainly used for basic assets cannot be delivered or cannot be delivered.

When traders on the S & P 500 index stock index futures positions, cash is usually used in the stock futures market. In this case, the cash settlement transaction is much more simple.

This is in contrast with the real settlement of futures contract, the counterparties agree to exchange assets at the end of the contract. At the expiration of the contract, will receive assets from the short side.

Place of delivery and terms stipulated in the contract, the exchange will implement the basic rules. This is mainly used in the commodity market and foreign exchange market.

So why the contract deliverables are important to the foundation of the market?

Cash futures manipulation

In view of the future cash settlement does not involve the basic assets of their own transactions, so there is no set of futures contracts will be how to use the parameters. The only variable is specified in the contract price and time expires.

This basically means that any person has enough large positions based on assets are available through the market entity to influence the price of the futures market.

How do we know this would happen?

This is a kind of market manipulation strategy as everyone knows, is called “beat closing”. This has studied the potential of manipulation. There are also companies using this technology precedent.

CFTC “popping off” definition

A large number of hedge fund positions before the expiry date of the future may be in the price of underlying assets held in creative activities. They will try to take advantage of their position and other strategies, such as negative marketing activities to drive the price down. You can read more about Herbalife shares some strategies used in the past.

Of course, in a transparent and open stock market, this is very dangerous. People can see who is trading in what and when trading on the order book. The SEC and CFTC regulators aggressively pursuing market manipulation cases.

But in the encryption money market is not regulated and opaque?

BTC futures manipulation

Even before the launch in CBOE and CME futures, there are many investors looking for ways to shorting bitcoins. The introduction of exchange traded futures contracts is an open invitation.

In addition, in view of the future is a cash settlement, hedge funds and crypto currency giants see the favorable opportunity of suspicious strategy. Even in the Wall Street Journal (Wall Street Journal) before the release, when they discussed the risk control, assuming that this point.

Indeed, the price of bitcoin published in the CME before it reached the highest point in history, this situation is quite suspicious. Large accumulation of real bitcoin investors so as to improve the spot price and then the future price is completely feasible.

It can be said that they hit the “open” button.

CME futures opened the global currency markets collapse

With the opening of these contracts, people began to accumulate cash futures market positions. They locked the futures price due to nearly $20000, the contract will expire in January.

Then, they began slashing prices at the time of closing.

The bitcoin reserves accumulated in futures before the opening can now start to sell bitcoin in the spot market. They lock the higher price level of these physical assets, and lower prices, and earn cash in the futures market.

Cash, buy. Rinse, repeat.

CBOE and CME are aware of these risks, so they decided to put the KYC full price as the futures price reference point. For example, CME cited 5 well-known exchanges including Coinbase, Bitstamp and Kraken, the collection price, CBOE quoted a Gemini exchange.

However, there is no way to contain a large and opaque global market. Most of the trading volume of bitcoin is carried out in the offshore exchange, while the KYC approach is not so thoroughly. If the world prices began to decline, the reference exchange price will decline.

Theoretically, it seems reasonable. But it really happened?

Or why?

If the bitcoin reached the peak and then fall, it seems perfectly depicted the introduction of futures. When the CBOE contract, but no interest in futures opened, CME futures started trading, trading volume rose steadily.

We do not need to see the views of the Federal Reserve Bank of San Francisco. Have enough confidence they had a significant impact for bitcoin futures market assertion. The article points out:

“The new investment opportunities in bitcoin stock market decline in demand, so prices drop. With prices falling, pessimists began by betting money, encouraging further selling and further depress prices.”

Therefore, although they did not propose any coordinated operation of the case, but they are explained if this happens, the exact dynamic will happen.

We can also observe the futures market maturity of stock market volatility rose sharply. As Fundstrat Global Advisors Tom Lee points out, this shows that traders may have been in active trading market entities, to have an influence on cash futures market.

Therefore, although this is not conclusive evidence of manipulation, but it does for the NASDAQ listed futures cash painted a frightening picture, and this may further promote the volatility of the unnecessary.

So, what can be done about it?

Physical delivery

Bitcoin is a very easy transfer of assets. It is better than the stock, commodity and currency more easily transfer.

Therefore, it seems to be the ideal candidate for the physical delivery of bitcoin futures. The other party in accordance with the contracts agreed to enter into a futures contract. They will agree with the actual purchase or sale in asset maturity.

This also means that the future short (sell) bitcoin individual will have to bitcoin into memory, so that the actual send to the buyer at the expiration of the contract. They can not be used alone to bitcoin, on the spot market by buying pressure.

More transparency, more uncertainty, lower volatility. The actual delivery of the bitcoin futures may actually help to reduce volatility, for enterprises and investors to ensure future prices for their final transaction.

So, what we can expect to see the actual agreement?

You must have heard of the exciting products and technology companies are developing Bakkt. This is a by the Intercontinental Exchange (ICE) to support the digital currency plan.

One of the most important things in their upcoming is their actual delivery of Bakkt bitcoin ($) daily futures contract. A bitcoin delivery of these requirements is stored in the Bakkt in the warehouse.

Bakkt futures contract

This means that they will be in the physical storage Bakkt bitcoin, Bakkt will be saved in a fully transparent manner before the expiration date. Before expiration of the contract, the seller is not in the real future market in any capacity using bitcoin.

These contracts will allow large transactions, and will use the ICE mature financial market infrastructure and technology.

Bakkt bitcoin futures will be launched in January 24th next year. To see whether these products can inhibit cash futures fuelled volatility will be interesting.

conclusion

There is no doubt that this year the encrypted currency market is a tough year. This community is cheering for any form of potential mechanism using, without considering its impact on the market.

Cash futures is one of them.

The market by some very clever, hedge fund giant and traders composition algorithm encryption. They know the exact dynamic cash for futures is still in the bud of the bitcoin market brings.

Whether they actively use this to enrich themselves, no one can say truly. But obviously, the large-scale institutions bring many people want to cash and futures.

Therefore, when we usher in the new year, let us focus on the real ecosystem value and help with financial products.