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About johnjeff

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  1. Hello, I've been hovering around bitcoin for months and I want to become an expert in it. What resources are available and what steps can I take to know all there is to know about bitcoin and possibly reproduce the technology involved. Thank you.
  2. SegWit: First Steps To Ecosystem -This past week was a big step forward for the SegWit Ecosystem, i.e., SegWit enabled coins. Within a span of four days, Litecoin has been successfully exchanged through Atomic Swaps with Decred, Vertcoin, and then finally Bitcoin. On Sep. 19, 2017, Charlie Lee, the creator of Litecoin, and Alexlyp, from the Decred Project, were able to swap 1.337 LTC for 2.4066 DCR. Although they ran into difficulty at first, they were able to complete the swap via on-chain transactions through Decred’s repo wallet. The Lightning Network was not utilized as it still needs to be developed further before Atomic Swaps can be implemented. https://twitter.com/SatoshiLite/status/910534107058233344 -A day after on Sep. 20, 2017, Charlie teamed up with James Love Joy, the lead developer of Vertcoin, to perform another Atomic Swap. James was able to port Decred’s code to VTC and this time the two successfully exchanged 1 LTC for 55 VTC flawlessly. This too was an on-chain transaction and did not utilize the Lightning Network. https://twitter.com/SatoshiLite/status/910679160695091201 -Finally, on Sep. 22, 2017, Charlie worked with a John S to perform Atomic Swaps between LTC and BTC. The two followed the same processes outlined above and successfully swapped 10 LTC for 0.1137 BTC. https://twitter.com/SatoshiLite/status/911328252928643072 What exactly is Atomic Swaps? Very briefly, Atomic Swaps is a technology that allows a peer-to-peer exchange of two different coins. This is often called a “cross-chain” transaction and is made possible through the use of Hash-Time Lock Contracts(HTLC) on a multisig wallet. To accomplish this, you’ll need two 2-2 multisig addresses: one for LTC and one for, let’s say, VTC. First, both parties send their respective coins to the corresponding multisig addresses and immediately lock it up with HTLC for “x” amount of time. In this scenario, let’s say it’s one hour. The HTLC also stipulates that the coins will go back to their owners if one hour passes. This will act as insurance for the owners. Now one party opens a payment channel of 1 LTC while the other an offer of 55 VTC. If both parties are satisfied, they sign the respective channels to close them. You have now completed your Atomic Swap. The significance of this technology seems very exciting as it furthers one of the core principles of Blockchain technology: decentralization. Once implemented, Atomic Swaps may allow peers to trade two different coins without a third-party like an exchange. To be clear, the exchanges Charlie did with DCR, VTC, and BTC did not utilize SegWit. However, this technology will be necessary as a fully functioning and scalable Atomic Swap system will require the Lightning Network. Ultimately, there are two significant take aways from the swaps between LTC-DCR, LTC-VTC, and LTC-BTC: .They were done with real cryptocurrencies and not testnet coins . It represents a significant first step as a proof of concept for future Atomic Swaps within the SegWit Ecosystem. https://cointelegraph.com/news/segwit-first-steps-to-ecosystem
  3. Three days ago I noticed a serious drop in my mining income and went to do some research. All I could find is this chart showing some huge jump in mining difficulty which explains reduced income. https://www.coinwarz.com/difficulty-charts/ethereum-difficulty-chart Initially, I thought that it was connected with the rise of $ but that doesn't cover it. Does anyone know why did the difficulty increase so much? When is the block time increase happening?
  4. This is pretty much the whole story right here... " NIFA official Li Lihui told a technology conference in Shanghai on Friday that a goal of China’s monetary regulation is to ensure that “the source and destination of every piece of money can be tracked.” " Bitcoin is the mortal enemy of 'tracking'. Therefore China is going to continue to assault Bitcoin from every angle. You can be sure of that.
  5. why people sell bitcoins?

    thanks to all advice
  6. why people sell bitcoins?

    I know this is an stupid question, and i can imagine some obvious scenarios like the urgency of a dissease or real life time trouble to sell all your bitcoins at once, but... why else does people sell their bitcoins? ITs been said that mining is efficient, but buying bitcoins is even more efficient. So why would someone sell his bitcoins if their value is going to grow anyways? Maybe because its safer to not have them all stored because they can get hacked and robbed? And if they were... "Paper firmed" (somehow i readed that one can have theyr bitcoins in paper instead of wallet i dont remember how) because they can get physical robbed or wrecked too? What other scenarios are possible for someone to prefer selling their bitcoins instead of keeping for further upvalue?
  7. bitcoin mining app

    So many bitcoin mining apps. Is appearing on the world wide web but how can we identify if the app. Is legit or true. I am really happy if can someone give me an example and how true it is also how does it works.
  8. Why do you mine Bitcoins?

    tell me any reason, i just need advice to start a mining
  9. what is bitcoin mining?

    just wait they reply
  10. what is bitcoin mining?

    Hello, I have a question, what is Bitcoin mining? actually can anyone explain that what is bitcoin mining? or any source link or article where I can find my question perfect answer.. Your kindness.
  11. how to start trading?

    hi everyone, I want to learn trading of crytocurrency. As a new in trading, I want to learn first. Could anyone can help me how to start and from where I can learn trading.

    salamat po sir na edit napo at pasensya din po hehe