TL;DR: Crypto Dev Digest (CDD) documents cryptocurrency development, highlighting the projects and persons working under the hood. BTC influencer demonstrates textbook Dunning–Kruger effect. Crescent Wallet and Be.Cash are updating like crazy. STAMP Alpha messaging ready for a test run. AVA Labs continues its tear, and tons more in this digest. BUIDL!
Dunning–Kruger Effect of BTC Influencers
At the turn of the present century, in a series of papers American social psychologists David Dunning and Justin Kruger outlined what would come to be known as the Dunning–Kruger effect: those who don’t know often don’t know they do not know and yet proceed with ever-more confidence, unearned swagger. Dunning–Kruger examines the cognitive bias of how those with comparatively low ability often overestimate their competence. Few in the ecosystem exhibit Dunning–Kruger better than BTC maximalists, and hardly any with more verve, panache than BTC influencer Dovey Wan. It can be breathtaking at times: petty, vicious, name-calling, … and never an ounce of mea culpa, reflection, pause, humility.
More recently, Ms. Wan gloriously Dunning–Kruger ‘d on the subject of Bitcoin’s interplay between miners securing the BTC network, reward halvings, hash rate, transaction fees, difficulty adjustments, and mempool clogs — all of which have become quite the topic of conversation in the space of late. No one pretends to understand how those variables will work themselves out in the wild; well, no one except BTC influencers, that is, buoyed by their lack of fundamental understanding of the tech.
The fact that difficulty adjusted by 6% doesn’t mean hash rate is down 6%… it’s down about 20% as of now
— Larry Cermak (@lawmaster) May 20, 2020
Depending on who is doing the analysis, the corresponding baked-in BTC difficulty adjustment could be just what the doctor ordered, a genius move, designed to ease the inevitable fallout of planned digital scarcity impacting the mining community. Or, it could expose BTC to the charge of ever-greater centralization and real problems going forward. This month, those conflicting interpretations have taken hold for the time being, and it’s getting interesting. BTC hash rates, as expected, have been all over the place, with difficulty adjusting in the mid-single digits.
Will it be enough to compensate? That depends in part on the speculative spot price of BTC. Should it plunge double-digits, the game is for sure over as it relates to substantial numbers of miners. Some point to increasing BTC network congestion, the dreaded mempool backlog and its impact on prices. Historically, the two haven’t matched up as might be intuitively thought. BTC Hash rate, on the other hand, reached all-time-highs between difficulty adjustments. This could leave a lot of room for potential disaster: less miners, slower block times, pushing the next adjustment for relief more distantly off and out of reach, as the prospect of unmined blocks looms, forever-stuck blocks. Some have suggested alleviating this scenario would require a hard fork which is in heavy contrast to the “no one leads Bitcoin” just-so story. Stay tuned. Oh, Dovey.
STAMP Alpha Released for Testing
“The system is very similar to XMPP/SMTP, but with end to end encryption based on secp256k1 keys so payments can be integrated. The messages are structured, so I’m intended to add a Dapp browser based on off-chain smart contracts as well.
“This will be significantly more scalable and feature-rich than Ethereum due to everything being done *only* by the people wanting to run those contracts.
“The BCH is also used as an anti-spam method so that we don’t need any centralized moderation and federated systems actually work — without places like Google being needed to thwart spam.
“That’s not to say there won’t be any spam. There will be, but at least it will pay us,” notes creator Shammah Chancellor, expanding on his project discussed at length here.
I've been helping @micropresident test the Stamp messaging platform for BCH.
Gotta say, I really like it. When it launches on mainnet, it will most likely be my main form of contact rather than Telegram.
— pokkst (@pokkst) May 18, 2020
AVA Labs on the Move
I sometimes hear that "blockchains are inherently slow." And I often get asked how fast AVA is.
Check it out. pic.twitter.com/hvZddaRgRo
— Emin Gün Sirer (@el33th4xor) May 12, 2020
Yes! Our roadmap has always been to build the next generation of blockchains and carry their promise even further than the impressive successes of both Bitcoin and Ethereum. Any vision that settles for incremental progress over a massive leap isn’t worth the time and effort. https://t.co/AvchJzrvtk
— Emin Gün Sirer (@el33th4xor) May 17, 2020
Spedn 0.3 Released
Spedn 0.3 released!
This version introduces reverseBytes function from the last network upgrade, tuple literals and improved covenants support. https://t.co/jD3Z78gz00
— Tendo Pein (@tendo_pein_sama) May 19, 2020
CoinText to Deactivate in 30 Countries
Due to lack of use and economic concerns, CoinText will be deactivating access numbers in 30 countries on June 1st, 2020.
— CoinText (@CoinText) May 18, 2020
Coinbase Bitcoin Cash Block Explorer
Coinbase just released a new open-source Bitcoin Cash block explorer powered by BCHD's gRPC interface! Contributors are welcome! https://t.co/duzimqU4xX
— Josh Ellithorpe (@zquestz) May 18, 2020
Most Stable Release of Fulcrum Yet
The most stable release of Fulcrum yet is out today.
Fulcrum v1.1.1 provides infrastructure to one of the most used desktop wallets for Bitcoin Cash. Run your own server together with Flowee the Hub to decentralize your wallet.
Be your own bank!https://t.co/YPVsDVpgKz
— Flowee (@FloweeTheHub) May 15, 2020
Crescent Cash Updates
Crescent Cash 1.13.6 is now being rolled out to the Google Play Store and F-Droid.
This update fixes an issue with the SLP wallet, and re-enables said wallet.
— Crescent Cash (@crescentcash) May 15, 2020
Transact privately with @crescentcash, using BIP47 reusable payment codes.
Overview video here: https://t.co/O7a8vs8UyD
— pokkst (@pokkst) May 15, 2020
Fixed several bugs in Crescent Cash today. I also added May upgrade block 635259 to the list of checkpoints in bitcoincashj (https://t.co/5DeW3OuYTc), and fixed a few bugs in bitcoincashj today as well.
— pokkst (@pokkst) May 16, 2020
Crescent Cash 1.13.8 is now available for Android, Windows, macOS, and Linux!
1.13.8 brings BIP70 support for SLP tokens, and minor UI fixes to the SLP wallet!
— Crescent Cash (@crescentcash) May 21, 2020
Be.Cash Continues Apace
If you got an old (especially an old) Android phone spare that you don’t need anymore, you could donate it to development of https://t.co/sv7cGuvZmw ^_^
I would greatly appreciate it and it would be very helpful! Send me a PM @TobiasRuck or /u/eyeofpython if interested pic.twitter.com/aXN1XPSxFi
— Tobias Rrrrrrrrruck (@TobiasRuck) May 16, 2020
My goal is that even people who can barely operate their TV (ahem @jk_rowling ahem) be able to use crypto. Let’s make it happen!
— Tobias Rrrrrrrrruck (@TobiasRuck) May 16, 2020
I feel like my wallet is trying to tell me something… 🤔
— Tobias Rrrrrrrrruck (@TobiasRuck) May 21, 2020
Finding Negative Block Times
“As the focus for Bitcoin Cash protocol development is shifting to the November upgrade we should look at the difficulty adjustment algorithm (DAA).
“The current DAA, that doesn’t work so well, is a simple filter and it has been suggested by various people that an exponential decay filter would work better. A little investigation shows that when blocks have so-called negative duration, this causes problems for such a solution, though.
“So when the timestamps from block N is higher than the one after it. This is legal on the blockchain and it turns out that this would be a problem in a DAA which uses the exponential decay algorithm.
“So this raises the question: how often does this actually happen? How often is the timestamp of a block before the timestamp of the block it extends?”
— Jonathan Silverblood (@monsterbitar) May 16, 2020
"Patches are welcome" is a good response, it shows that they looked at the suggestion, think it could be a good idea and… (cont)
— Jonathan Silverblood (@monsterbitar) May 18, 2020
Best BCH Wallets
— Mathieu Geukens (@GeukensMathieu) May 17, 2020
My first contribution to core got merged today. Took me 2.5 years since learning to code from scratch, but eventually happened. It was a long standing life goal, which at times i thought is probably unreachable.
If i can do it, anyone can do it. pic.twitter.com/bZ0ijofz8l
— Raj 😷 [#taproot] (@RajarshiMaitra) May 19, 2020
BCHN Online API Documentation
— imaginary_username (@im_uname) May 19, 2020
Bitcoin.com Wallet Smokes
The average grocery store checkout time in USA is ~5 minutes.
Just demo'd how #BitcoinCash can do 50 transactions in half that time with the https://t.co/z549hl97mB wallet, with sandstorm playing, all thanks to the successful network upgrade. 📈⚡$bch #Bitcoin #cryptocurrency pic.twitter.com/ufCsRImdwO
— Corbin Fraser (@maplesyrupsuckr) May 15, 2020
Flipstarter to the Next Level
Flipstarter collaborates to fund next step of development!https://t.co/JNzNZMhgc1
Our half of the 50% up-front payment:
BCH Node is covering the other 50% through their mandate to develop funding infrastructure.
— flipstartercash (@flipstartercash) May 19, 2020
BCH-JS New SLP Function
bch-js added a new SLP.Utils.decodeOpReturn2() function that implements slp-parser library by @BlockpartySh. First of many SLP handling improvements!
— FullStack.cash (@FullStackCash) May 20, 2020
Cash Pay Server
— James Augustus (@jimfriendo) May 20, 2020
Ameliorate Block Time Oscillations
— George Donnelly (@GeorgeDonnelly) May 20, 2020
Mine Bitcoin Cash Anonymously
#BCHIgnite presents a builders livestream
Building Tools for Mass Adoption – What's First
Thu 21 May 1700 UTC / 1900 CEST / 1300 NY
New guests every Thu
— BCH Ignite (@BCHIgnite) May 20, 2020
Knuth v0.3.0 Released
Knuth v0.3.0 has been released.
This release includes post-HF stability changes and several improvements.
— Knuth (@KnuthNode) May 20, 2020
OP_REVERSEBYTES Added to Bitcore-lib-cash
— ematiu (@ematiu) May 21, 2020
Tipbitcoin.cash for Livestreamers
https://t.co/27hmrwwfH2 allows any livestreamer to accept BCH and SLP tips live on air! Notifications LIVE on youtube, twitch, dlive and more! Check out https://t.co/uf8a5O5nhW TODAY!!#BitcoinCash #SPICE #SLP@tipbitcoincash @Egon_01 @rogerkver @CollinEnstad @pokkst pic.twitter.com/xet66UZH43
— Spice Developers (@spicedevs) May 24, 2020
Pin Files to IPFS on the Cheap
You can now pay $0.01 in BCH to pin files to IPFS for one month! Try out the demo:https://t.co/ZxtHF7dqKb
bch-js has been updated to support it! Documentation:https://t.co/Gm4xPDFAG1
Quick-start code examples:https://t.co/seBzNvcNf9
— FullStack.cash (@FullStackCash) May 22, 2020
“BitcoinBileto are business card sized, professionally printed, scratch-off cards which a person can purchase and load with BCH. They are designed so that they can be loaded with BCH by the person who buys them in order to give them out for the purpose of onboarding other people. They can be loaded with as much or as little BCH as the purchaser chooses. Although the average funded on each card may only be a few dollars, a batch of bileto can be loaded such that a couple of the cards have a much higher amount. This aspect gives the crypto naive recipient the incentive to go ahead, download a wallet and scan the QR code in case he or she is the person who ‘wins big.'”
Updates to Bitcoin Cash Java Library
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DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.
DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.