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Bitcoin Warning As Serious Security Vulnerabilities Uncovered

Bitcoin developers have been trying to make the world’s most popular cryptocurrency more useful for payments, with the somewhat controversial Lightning Network one of the most popular projects.

However, serious security vulnerabilities have this week been discovered on the bitcoin Lightning Network, which could result in users losing their funds if nodes are not upgraded.

“Security issues have been found in various Lightning projects which could cause loss of funds,” wrote software developer, Rusty Russell, who authored the majority part of bitcoin’s Lightning Network protocol specification, in a post shared via a Lightning Network mailing list. “Full details will be released in four weeks, please upgrade well before then.”

The specifics of the vulnerability will be disclosed on 27 September, a common software security practise to both prevent bug exploitation and give developers time to patch problems.

The vulnerability appears to be related to the lightning-ready bitcoin wallet Eclair, which Russell also advised users to update.

The Lightning Network, first proposed by Thaddeus Dryja and Joseph Poon in a 2015 white paper, creates a layer on top of the bitcoin blockchain, where transactions can be passed back and forth before being added to the underlying blockchain.

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This should mean bitcoin transaction speeds are increased while costs are significantly reduced.

There are now a few different Lightning-ready wallets available, as well as companies that are able to process them on behalf of merchants.

However, low user numbers mean bitcoin lightning nodes currently lose money when they process transactions, according to recent reports.

When sending a Lightning payment, two parties deposit the funds at one bitcoin address, a so-called channel, in which they can exchange funds a limitless number of times.

This maintains bitcoin’s security but means small, regular payments don’t need to be added to the underlying blockchain until the channel is closed.

Questions have been raised about what Lightning Network adoption will mean for the bitcoin price, with much of the price dependent on transaction fees picked up by miners.

Most are though confident that with increased bitcoin adoption the price will continue to rise.

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I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: Bitcoin Warning As Serious Security Vulnerabilities Uncovered

By Daniel Chechik, Ben Hayak, and Orit Kravitz Chechik A mysterious vulnerability from 2011 almost made the Bitcoin network collapse. Silk Road, MTGox, and potentially many more trading websites claim to be prone to “Transaction Malleability.” We will shed some light and show in practice how to exploit this vulnerability.

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‘Extreme’ Bitcoin Warning Spooks Crypto Market

Bitcoin and cryptocurrency traders and investors are nervously watching prices after market sentiment appeared to take a turn for a worse, dropping to its lowest level since December 2018.

The bitcoin price has been hovering around $10,000 per bitcoin for a few weeks, with many hoping bitcoin was becoming a safe haven from turbulent markets.

Bitcoin and crypto investors are worried, however, with the Crypto Fear and Greed Index showing “extreme fear,” and earlier this week dropping to a 244-day low last seen when bitcoin crashed to around $3,000.

The fear index hit an all-time high in late June as excitement around Facebook’s plans for its bitcoin rival reached fever pitch but has since dived as regulators signal their dissatisfaction with the social media giant.

“The current regulatory roadblock on Facebook’s plans for its digital token has dimmed down investor sentiment for cryptocurrencies,” said Christel Quek, chief commercial officer at Bolt Global, a cryptocurrency wallet provider and entertainment company.

The fear index is currently showing a reading of 20, but earlier this week dropped as low as 11 after falling sharply throughout August.

Since the index hit its year-to-date lows, the bitcoin price has fallen a further 2%, while the overall cryptocurrency market has seen more than $30 billion wiped from it over the last week.

Meanwhile, the bitcoin price dropped below the psychological $10,000 per bitcoin mark this week, further worrying traders and investors.

Some in the bitcoin and cryptocurrency industry pointed out the wider cryptocurrency market has declined along with the bitcoin price.

“Bitcoin and major cryptocurrencies including litecoin, ethereum and Ripple’s XRP have declined [this week], weighed down by concerns of a slowing economy,” Quek added.

The fear index, created by website and software comparison company Alternative.me, calculates the index’s value daily on a scale of 0 to 100 using volatility, market volume, social media, survey, dominance, and trends. Zero means “extreme fear,” while 100 means “extreme greed.”

Follow me on Twitter.

I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict.co.uk I reported on how technology is changing business, political trends, and the latest culture and lifestyle. I have covered the rise of bitcoin and cryptocurrency since 2012 and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself. I have worked and written for CityAM, the Financial Times, and the New Statesman, amongst others. Follow me on Twitter @billybambrough or email me on billyATbillybambrough.com. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.

Source: ‘Extreme’ Bitcoin Warning Spooks Crypto Market

Why Bitnyx Is Still The Most Favourite Free Satoshi Maker Without Any Doubt

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Bitnyx is the next generation bitcoin faucet platform created by crypto-coin enthusiasts. Bitcoin faucet is a reward system that dispenses rewards in the form of a satoshi for visitors to claim in exchange for completing a captcha. At Bitnyx, our purpose is to help introduce new people to bitcoin.

We provide information to new users as well as offering them some free coins so that they can “try before they buy”, experimenting with a test transaction or two before putting real money on the line. Since this whole experience is so new and a bit complicated to people, who perhaps don’t quite trust it with their hard money, Bitnyx is easy way to get free digital currency………

It is a very easy to use faucet, just register at the portal and make claims by clicking on the green button. The claims are available every thirty minutes and you earn a number of random satoshi. Pay on any wallet upon reaching 0.00025000. Payment takes place automatically every Monday, but in the settings, if you prefer, you can remove the automatic sending (something useful, for example, if you are uncertain about the wallet and you would like to change it, which you can do in the settings ).

From the referral you earn 50%, so I would say very convenient. Automatically you also participate in a weekly contest, which has up to 0.00100000. To win you have to do as many claims as possible. . There is absolutely no obligation to click on the advertisements of third-party portals to make claims, the only thing to do is just click in the green rectangle when it is ready for the claim (ie ended half an hour from the last and once replaced wait in orange with green claim, strongly recommend not to use any VPN or browser in anonymous, otherwise you are banned .. They have to trace the IP to accredit satoshi Languages ??available: English or Russian.

How to make money online e how to get free referrals with Bitnyx

How to get referrals in Bitnyx

Bitnyx offers a referral system through which you can optimize your online earnings, but finding referrals in Bitnyx it is however very difficult! For this reason MoneyMakerLand has activated a “Booking link” service that helps you find free active referrals in Bitnyx.

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Sign up in MoneyMakerLand

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Declare the usage of Bitnyx

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Book a link in Bitnyx

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When the reservation is active, all members will be your referrals

This review of Bitnyx has received 909 views that allowed our members to receive 24 click on their referral links.

How to get free referrals with Bitnyx
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External referrals

Referrals not registered with MoneyMakerLand who have clicked on the link as external visitors – Statistical

How to get free referrals with Bitnyx
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Confirmed referrals

Referrals subscribed to MoneyMakerLand with which users have come into contact directly – Real data

How to withdraw

Earnings are automatically picked up on the site Every week on Monday at 00:00 (UTC) all the current balance is automatically withdrawn directly to the bitcoin address indicated above without transaction fees. You can activate or deactivate automatic withdrawals and add or change the bitcoin address in the settings. The minimum levy available is 0.00025000 BTC.

↑ Back to the top to sign up in Bitnyx

Payment proofs di Bitnyx

How do you figure out if an online payment method is really paying? Well, very simple: see if there is proof of payment! Here’s why we’ve created a proof of payment section in MoneyMakerLand where users can upload their screens receiving up to 300 GP points in return. In Bitnyx proof of payment has not yet been loaded and therefore we can not say if Bitnyx can be a reliable site or not.

Reviews of Bitnyx

Is it better to use Bitnyx to make money online? It is worthwhile to work and spend time to find a good referrals network in Bitnyx? Recent studies state that around 85% of people read up to 6 reviews before making a decision-making choice: hotel booking, restaurant dinner choice, shopping advice, etc. Sensing the importance of testimonials we have inserted a feedback system in order to give an indication to whoever wants to enter the world of online earnings: every real testimony posted, the user receives a fee of 300 GP points. About Bitnyx:

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N° reviews

The number of testimonials posted by users and accepted in the community

All the reviews of Bitnyx
5,0

Avg rating

Lat the average of the evaluations expressed during the sending of the testimonies is 5,0 on 5,0

You want to leave a testimonial or look at all testimonials left by community users? Go to the testimonials section of Bitnyx

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Support chat of Bitnyx

Do you need a help by using Bitnyx? We have created a very useful section where community users can ask and answer questions related to the site Bitnyx. Check in the chat/forum if your problem has already been proposed, otherwise ask the experts who will be happy to dissolve as soon as possible any doubt. About Bitnyx, at the moment there are no messages in the public

Source: https://bitnyx.com

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