Bitcoin News #38 – AsicBoost, Litecoin Pops, Bitcoin $500,000

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Bitcoin news for the week of Apr 3rd with your hosts @theonevortex, @lightcoin, @sharkybit, @SDWouters and special guest @fluffyponyza!

Topics:
-AsicBoost – This week we saw a ton of controversy over the allegations of Bitmain secretly using a technical advantage referred to as AsicBoost for mining up to 30% faster than the competition. Is Bitmain really doing this and if so how can the network stop this from happening?
-LiteCoin Pops – Litecoin has recently seen 2 year highs on the news that segwit may get activated. Do we think it will get activated and what effect will this have on bitcoin?
-Bitcoin $500,000 – Snapchat's First Investor Jeremy Liew said in an interview with Business Insider that Bitcoin price can realistically reach $500,000 by 2030. Is this price possible and how will we eventually get to this price if it is indeed possible?

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15 thoughts on “Bitcoin News #38 – AsicBoost, Litecoin Pops, Bitcoin $500,000

  1. I really need some help from anybody who can give me a solution to a problem I am having with mymonero wallet. About a week ago i transferes 104 monero to my poloniex account and that money is nowhere to be found!!! I am really stressing out about this!! Does anybody know what i should do? I have emailed support 4 times and have not heard a single word from them… I would really appreciate advice from anybody knowledgeable on this… Please.

  2. Patent taken out in 2014, so Bitmain was obviously aware of this for some time. If there was/is a clear advantage with an optimised chipset, why would a company NOT use it? It is capitalism, a company with over $100m of skin in the game would take any advantage they could until they were caught. Then the m.o. is to deny, spin, then capitulate. To think a for profit business would act altruisticly is unrealistic.

  3. $500,000 by 2030 is a 61% annual average growth, which is not very aggressive compared to it’s annual average growth since it’s inception. Secondly, Bitcoin’s volatility continues to decrease, and the more value that goes into it, the more money it takes to move the price, and the less volatility you get.

  4. @JOHN: I think you’re missing a major point. If the “optimization” RELIES on the block structure NOT changing, then it’s not a true optimization.

    It’s not an optimization if it RELIES on Bitcoin being stagnate.
    It’s not an optimization if it RELIES on Bitcoin being static.
    It’s not an optimization if it RELIES on Bitcoin NOT moving forward.

    A true optimization would continue to optimize no matter how the block is structured.

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