Thousands of coins enter. One coin leaves. The Bitcoin Thunderdome is an evening with prominent Austin bitcoin champions battling it out to see who can make the most people panic buy bitcoin on spot. Stay humble, stack sats. The contestants please: bit.ly/2T8m5PJ
He lifts weights, wears cowboy hats and when he’s not crushing 72 oz steaks, @jimmysong authors distinguished literature (Programming Bitcoin / The Little Bitcoin Book) and trains the next wave of bitcoin developers. Come hear his talk on programming bitcoin.
A champion transcriber, bitcoin core developer and biohacker, @kanzure has it all. When he's not working to save the world, Bryan is busy working on the latest bitcoin protocol developments, saving the world. Don’t miss his talk on all the latest advancements in bitcoin tech.
The latest bitcoiner to leave NYC for greener pastures in Austin, @pierre_rochard needs no intro. He develops node launchers, launches nocoiners & works on open source for @krakenfx. Bitcoin can’t scale? Not so. Pierre will teach you everything about the #BTC lightning network
Folks, he's mainstream. @bitstein educated @MSNBC viewers about the risks of altcoins in 2014 and he was seen at #SXSW 2015 clarifying for @mcuban why bitcoin keeps on winning (great advice Mike!). If you’re still struggling with bitcoin economics 101, this is for you.
He’s a physicist, wannabe astronomer, and a bitcoin programmer. @dhruvbansal is making the world more secure, delivering bitcoin multisig to the masses at @unchainedcap. It's the calm before the storm. Prepare yourself. Dhruv will cover all the basics about securing bitcoin.
Bitcoin developer meetup - After the fireworks at the Thunderdome, get philosophical with @_JustinMoon_ and @BuckPerley at the Austin Bitcoin developers meetup, where they will lead a socratic discussion of the technical achievements in bitcoin. meetup.com/Austin-Bitcoin…
Bitcoin happy hour - Let’s send the Austin Bitcoin Citadel week off right with a celebration of the minds. Join us for a bitcoin happy hour brought to you by our “Golden Chalice” sponsors at Trammel Venture Partners @mecee@druidianeventbrite.com/e/happy-hour-a…
Throughout the week, get connected with your operational security stewards at Unchained Capital. We’re offering daily demos and 1:1 multisignature consulting at the citadel. Schedule time here unchained-capital.com/vaults/
If you’re a bitcoin company interested in co-sponsoring the week or specific events, please DM
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The mempool, where unconfirmed #bitcoin transactions wait, has become fairly congested.
What happens if you offer a low fee during periods of congestion? You run the risk of the transaction getting “stuck” in the mempool.
But how do you get it “unstuck?”🧵
Attached to each unconfirmed transaction is an incentive set by the transaction author, called a mining fee. Fees encourage miners to prioritize transactions.
Fees are denominated in bitcoin and calculated using a fee rate, expressed in satoshis per byte (ex: 21 sats/vB).
There are two methods to get your transaction “unstuck.”
Replace-by-fee (RBF) and child-pays-for-parent (CPFP) are both techniques that allow a user to manipulate transactions and manage fees when a transaction is still viewed as unspent by the network.
1/ Understanding bitcoin addresses and how they work is important for operating confidently in the bitcoin economy. In this thread, we'll break down what addresses look like, how to use them, and the basics of how they're created! 🧵
2/ A bitcoin address is a tool for receiving bitcoin. You can think of it somewhat like an email address—anyone with one of your bitcoin addresses can send you bitcoin, just like anyone who has one of your email addresses can send you an email.
3/ Each address looks like a collection of letters and numbers, here are some examples:
1/ The fee rates to move your #bitcoin quickly have been quite elevated in recent weeks, and over the last 48 hours we’ve seen some of the highest fee rates in bitcoin history!
Here's what you need to know... 🧵
2/ First, how do transaction fees work?
One bitcoin block is mined every 10 minutes on average, but that block can hold a limited amount of data. The limitation is intentional; it lowers the burden of running a bitcoin node, which in turn helps keep bitcoin decentralized.
3/ Transactions use data, so each block can hold a limited number of transactions. Want your transaction to be processed in the next mined block? You’ll be competing with other bitcoin users for this valuable block space. The winners are those who make the highest bid.
1/ When balancing all security and accessibility considerations, we believe 2-of-3 is the optimal multisig setup for most individuals and businesses holding material amounts of bitcoin. Why? 🧵
2/ First: Always secure your seed phrases. 𝌖
3/ In bitcoin custody, seeds (or their human-readable representation as seed phrases) are the secret that needs to be secured. You can think of hardware wallets as user interfaces for your seed; you use them to sign transactions with private keys derived from your seed.
If you're a seasoned bitcoiner who knows their way around hardware wallets, you can set up a #multisig vault on our platform yourself. Three resources you need to get started below...
This guide explains how to physically secure your hardware wallets and seed phrase backups, securing your multisig configuration file, and vault maintenance.