Welcome to Issue #7 of the Weekly Broadcast, a weekly newsletter published by the Bitseed team to share important news for Bitcoin full node operators. We’ll be covering the latest in Bitcoin development, full node news, community events, and experimental projects that node operators may find of interest. If you have any news tips or insights you’d like us to share in a future edition of the Weekly Broadcast, send us a message and we’ll credit you if your submission is published. Here’s the latest:
Bitseed end-of-year holiday discount – save $10 at checkout!
We are clearing out our 2015 inventory and giving Bitseed customers a chance to save on their next Bitseed order. Want to buy a last-minute holiday gift for your favorite Bitcoiner or take advantage of the holiday break to work on that Bitcoin project you’ve been putting off? Use the discount code holiday2015 at checkout before January 1, 2016 to get $10 off your next order of either Bitseed Lite or Bitseed Core (320GB HDD only – no discount for 1TB model).
Capacity increases for the Bitcoin system
Bitcoin Core developer Greg Maxwell recently published a post on the bitcoin-dev mailing list outlining a proposed scalability roadmap for the Bitcoin network and protocol going forward. Here’s the TL;DR:
I propose we work immediately towards the segwit 4MB block soft-fork which increases capacity and scalability, and recent speedups and incoming relay improvements make segwit a reasonable risk. BIP9 and segwit will also make further improvements easier and faster to deploy. We’ll continue to set the stage for non-bandwidth-increase-based scaling, while building additional tools that would make bandwidth increases safer long term. Further work will prepare Bitcoin for further increases, which will become possible when justified, while also providing the groundwork to make them justifiable.
Since publishing this roadmap, over 30 current and past contributors to Bitcoin Core have signed on in support of the proposal. Read the full proposal in the link below to learn about the future of Bitcoin scalability.
Bitcoin attack vectors explored in new report
The non-profit RAND Corporation has published an extensive report entitled, “National Security Implications of Virtual Currency.” In the report, they explore how “non-state” actors might employ the use of virtual currency technology to their advantage, and how nation-states might respond if such use of virtual currency becomes a threat to national security. As Bitcoin and other cryptocurrencies continue to gain adoption and influence, potentially disrupting trillions of dollars in profits across a wide range of industries built on artificial scarcity, middlemen, and trusted third parties, it’s important for the communities supporting these networks to be aware and vigilant in defending against attackers employing the methodologies mentioned in this report. You can learn more about these attacks and how the Bitcoin community might defend against them by reading the full PDF report linked below.
Redditor “aberrygoodtime” has created a great summary of the possible attacks on Bitcoin mentioned in the report:
Segregated Witness presentation at SF Bitcoin Devs
Following the landmark presentation on his Segregated Witness proposal at the Scaling Bitcoin Phase II workshop, Pieter Wuille stopped by the SF Bitcoin Devs meetup in San Francisco to give the presentation again and open the floor for questions from the local bitcoin developer community. You can watch the full presentation from the SF Bitcoin Devs meetup here:
This will be the last Weekly Broadcast of 2015! We’re looking forward to bringing innovative new products to market in 2016. Big “thank you” to all of our customers for supporting us in 2015 and beyond. Subscribe to the Bitseed mailing list to get notified when we publish the next Weekly Broadcast, along with other important Bitseed announcements. See you in 2016!