Bitcoin, Crypto currency, Blockchain

Freedom of speech-to-ECHO KW39 – Bitcoin-Bug and Büßermütze

An admission of guilt on Twitter, a crypto-sceptic programmer and a father-and-son Team from unwavering Bitcoin bulls. The freedom of speech to ECHO.

Not a Bug, but a Feature

Reports of market manipulation and technical problems with Bitcoin & co. have shaken some of the Hodlern confidence in the digital currencies. To Ross Hartshorn in the New York Times. Generally speaking, software developers Hartshorn crypto looks currencies, far from it, to create the original claim of Bitcoin – namely, an electronic P2P payment system.

After a hard, horn-view crypto-currencies are to a higher degree of trust in a mediator-dependent than the US Dollar. For these institutions two categories of power Hartshorn: the crypto stock exchanges and the creators of new Cryptocurrencies. About decentralized crypto-exchanges, in which many see the future of crypto-trade, loses Hartshorn, however, not a word. Anyway, the rocket-like rise of Bitcoin is watching with Argus eyes:

“If a new technology is growing exponentially, should make us suspicious, and not delight.”

Hard horn draws comparisons with Facebook, which has a similar quick success story and now also of its origin, ideal to have removed:

“There’s a feeling I get when I log in with Facebook and Clickbait News, overly Intrusive Ads, and a perplexing inability to my Feed to configure so that it shows me the Updates of friends, which was the reason I came in here to Facebook. […] Facebook is less free than an ordinary conversation from the real life to become, not in spite of but because of the opportunity to connect with someone.“

There is a need for new systems, such as Bitcoin, or Facebook time to address their problems. Technologies that develop “too quickly”, with the risk of early adaptation, without adequate knowledge of their weak points. The term “viral” is not connoted only positive.

Established systems, such as regulated Fiat currencies may have their limitations, the conclusion of hard thorns, but these are not weaknesses, but a feature:

“Many of the so-called limitations of state-regulated currencies are Features and no Bugs. “

Büßermütze and Bitcoin Bug

Definitely a Bug, however, was the error in the Bitcoin Protocol, which has already provided the week before last caused a sensation, which is not also subsided in the past week. The Bug with the catchy name “CVE-2018-17144” it could enable attackers to create new Bitcoin “out of Nothing”.

On Twitter, the Bitcoin-Core-developer John Newbery put on the Büßermütze:

“I’m for the Bug is CVE-2018-17144 responsible.”

Not because he’d programmed the error itself; but because this is not him stabbed in the eye, though Newbery’s daily has his nose in the Bitcoin Code which he’d rather be followed than to rely on others:

“I spend my days to read the Bitcoin Core code base. There is no Chance that I have not read the check TRANS action (). As I read it, would give me the comment ‘…so we skip it in the check block’ to stand out. […] To verify instead of making it myself, I rely on other, smarter people would take the matter up. […] I’m sorry, I’m ashamed of myself.“

Newberys Tweet met in a sympathetic commentators, many of whom referred to the need for more in-depth Code Reviews by the Bitcoin Community.

This Horn is also the software developer Pierre Rochard meets. He looks every Hodler in the duty, with the Bitcoin Code address:

“Every Bitcoin Holder has the appropriate means, and any Bitcoin company that is profitable, should take full responsibility for the Bitcoin code review; be it by the self-employed carry out the Verification or by the assignment of developers to do this for you. Honestly there is no excuse not to have to do it.“

Otherwise, Pierre Rochards Twitter Account provides a Potpourri of bullish messages.

Like father, like son

Tim Draper would surely feel at home here. Together with his son Adam, he has confirmed to Forbes his Thesis, Bitcoin reach to 2022, the 250,000-US-Dollar-rate brand, again. The “Permabulle” Tim and his calf Adam would also invest both in Blockchain-companies. However, even Draper sees that it is precisely in the area of newly created crypto much the Committee currencies commodity:

“We see some that are just Bitcoin-copies, and no reason for existence. We see others that we believe that they will have a profound impact on the industry and the government.“

On the question of what is nowadays the biggest challenge for the Blockchain technology, responds to Adam:

“The biggest Problem in the Blockchain today is the creation of a real added value for the end user, and the user-friendliness of the products.”

Father Tim is less on the problem, but paints rather a image of a BTC Economy, how he wants it to be:

“It takes time to Mature and in order for all this creativity. I am looking forward to be able to company in Bitcoin Finance, to pay your employees and suppliers in Bitcoin, so that the entire book is carried out to preserve automatically on the Blockchain. I am also looking forward to pay my bills in Bitcoin. And I am glad that all of my rights treaties ‘be smart’ (in the case of Software) contracts. I am looking forward to the fact that the geographical boundaries around the world to resolve.“

It is so still, the BTC-maxima lists. And that is a good thing.

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