Ep199: Chinese BTC Exchange Goes Full Retard, Bitcoin Core PoW Seppuku, DASH Debit Card

What’s a chain fork? The IRS claims only 802 people claimed Bitcoin on their 2015 taxes, and we explore the difficulty BTC users face with IRS compliance. Numerous Bitcoin exchanges issue joint letter regarding Bitcoin ticker tag in the face of the chain fork. Darren talks about what to expect from a Bitcoin Unlimited / Bitcoin Core hard fork and elaborates on what a chain fork is. Bitcoin Core explores a new Bitcoin Proof-of-Work algorithm that would render current ASICs obsolete for Bitcoin mining. Pedro shares a new website that monitors and optimizes Ethereum transaction gas prices. Darren has a scam alert and a cautionary tale about CoinTelegraph’s article credibility. China demands explicit details from Bitcoin exchange users, including receipts that will be verified against Chinese National Archival records. The Zcash Company announces the creation of the Zcash Foundation which will be rewarded with part of the Zcash Founder’s Reward. We talk about methods used by the Zcash team to create the initial public and private keys. Charlie Shrem is looking for funding to create a Dash based debit card. Prediction markets are a big part of the crypto space, can they actually predict the future? Matchpool looks to link up people for a variety of reasons including dating.

All this and more on the Neocash Radio podcast, episode 199 — Wednesday, March 22nd, 2017!

We’ve written out short overviews of the topics discussed on today’s show below! Be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Darren, and Randy!

Stream this podcast episode:

or Direct Download the podcast as an MP3 – Neocash Radio episode 199 


Tune in to Neocash Radio every Wednesday night and
RETWEET ALL THE THINGS @NeocashRadio!

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We’re also on Tunein, Player.FM, Overcast.FM, Podcast Addict, Blubrry, LBRY and more!


Traditional Financial Markets Cryptocurrency Markets
Gold $1,248 Bitcoin (BTC) $1,015
Silver $17.51 Ethereum (ETH) $40.57
Oil $48.13 DASH $99.00
Dow Jones 20,661 points Zcash (ZEC) $65.40
30Y UST Yield 3.017% Monero (XMR) $20.70

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So Bitcoin Might Fork. Here’s What to Expect…

It is with some lament that I write this. If everyone agreed on a path forward, then there would be no need for this post, but here we are. There is a strong likelihood that we will need to know what will happen if Bitcoin forks (again). There is a chance that the protocol of Bitcoin will fork, which will cause a chain fork as well. (I discussed hard forks & soft forks from my perspective in a previous post.)

Some Bitcoin miners are signaling that they would accept one of two competing Bitcoin protocol changes: one protocol is Bitcoin Unlimited (BU), which would increase the maximum transactions that Bitcoin can process by 100%. The other protocol, called Segregated Witness (SegWit), is expected to increase this maximum by 70%. As of this writing, 35.9% of blocks are signaling for Bitcoin Unlimited while 26.8% are signaling for SegWit.

Bitcoin miners signaling for Bitcoin Unlimited and SegWit blocks

Bitcoin blocks found by miners signaling Bitcoin Unlimited support vs. miners signalining SegWit support

Bitcoin Unlimited vs. SegWit: Abstractly, what is happening?

Let’s make a hypothetical situation where the proportion of Bitcoin Unlimited to SegWit votes stays the same, but is extrapolated out so that ALL Bitcoin miners MUST choose either Bitcoin Unlimited or SegWit. That would mean around 55% of miners would be supporting Bitcoin Unlimited and 45% of miners would be supporting SegWit. (There is an incentive to go with the “winning” majority chain, so this division of hashing power could be even more severe at the time of a hard fork.)

If Bitcoin Unlimited activated and a block over 1MB was mined, then the SegWit part of the network would reject this block and build off the previous block. With a drastic drop in hashing power but no change in the difficulty target, it would take the Bitcoin network longer to find the winning solution that confirms a new block to the blockchain. With our hypothetical numbers, blocks for Bitcoin Unlimited would come out approximately every 18.2 minutes and SegWit blocks would come out approximately every 22.2 minutes. Any transaction capacity increase promised by Bitcoin Unlimited and SegWit would be delayed until the difficulty target adjustment shakes out. As more blocks were found, the difficulty of each chain would adjust and after about a month (a little longer for SegWit), the 10-minute block time target would be restored.

How would this hard fork affect Bitcoin users?

A Bitcoin user with coins before the hard fork would then be considered to have a positive balance on both ledgers/blockchains after the hard fork. (The Ethereum blockchain forked after last year’s DAO debacle, yielding ETH tokens and ETC tokens (Ethereum Classic) for users who owned ETH before the fork.) But without taking care, a user could intend to spend coins on one chain and unintentionally spend on both chains; this is known as a replay attack, though it’s really not an attack if it’s done unintentionally. Maybe that should be called a replay error so as to not be confused with an intentional replay attack meant to defraud.

How does one guard against a replay attack after a hard fork?

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Ep186: Central banks destroy money, A.I. runs a hedge fund, and the “Welfare Cliff”

Pedro joins Darren, JJ, and Randy in-studio to talk about cryptocurrency mining. The European Central bank will do less quantitative easing in the future. The Federal Reserve raises a key interest rate to curb price inflation. Numerai is paying anonymous coders bitcoin to help create an artificial intelligence hedge fund brain. Coinbase loses the court battle but a user is stepping up to stymie the efforts of the IRS. Dash now has its first BitPay-like service. Zero knowledge Proofs and zkSNARKs. Randy has a report on the welfare cliff and how mobile commerce is helping lift people out of poverty.

All this and more on the Neocash Radio podcast, episode 186 — Wednesday December 14th, 2016!

We’ve written out short overviews of the topics discussed on today’s show below! Be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Darren, and Randy!

Stream this podcast episode:

or Direct Download the podcast as an MP3 – Neocash Radio episode 186


Tune in to Neocash Radio every Wednesday night and
RETWEET ALL THE THINGS @NeocashRadio!

Subscribe to Neocash Radio
on iTunesSoundcloudStitcher/ YouTubeGoogle Play & iHeartRadio!
We’re also on Tunein, Player.FM, Overcast.FM, Podcast Addict, Blubrry, LBRY and more!


Traditional Markets Crypto Markets
Gold $1,143 Bitcoin (BTC) $773
Silver $16.80 Litecoin (LTC) $3.58
Oil $50.77 Zcash (ZEC) $43.73
Dow Jones 19,792 points Ethereum (ETH) $8.20
30Y UST Yield 3.179% DASH $9.08
Euro (EUR) $1.05 Monero (XMR) $8.39
Chinese Yuan (CNY) $0.14 Augur REP $3.08
British Pound (GBP) $1.25 1 Doge = 1 Doge

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Ep182: Massive Android Backdoor, India Cash Crunch Chaos, Ethereum’s 4th Fork

Darren talks about his experience running for local office. India phasing out banknotes leads to much suffering. Secret backdoor in millions of Android devices. U.S. government looks to block Chinese acquisitions. John McAfee warns of the dangers of smartphone security impacting Bitcoin use. Fake news loses advertising options. IRS agrees to cryptocurrency overhaul when they have the time/funding. Ethereum fork number 4 is coming.

All this and more on Neocash Radio episode 182 here on Wednesday November 16th, 2016!

We’ve written out short overviews of the topics discussed on today’s show below! Be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Darren, and Randy!

Stream this episode:

or Direct Download the MP3 – Neocash Radio Episode 182


Tune in to Neocash Radio every Wednesday night and
RETWEET ALL THE THINGS @NeocashRadio!

Subscribe to Neocash Radio
on iTunesSoundcloudStitcher/ YouTubeGoogle Play & iHeartRadio!
We’re also on Tunein, Player.FM, Overcast.FM, Podcast Addict, Blubrry, and more!


Traditional Markets Crypto Markets
Gold $1225 Bitcoin (BTC) $740
Silver $16.96 Litecoin (LTC) $3.84
Oil $45.33 Zcash (ZEC) $98.50
Dow Jones 18,868 points Ethereum (ETH) $10.07
30Y UST Yield 2.915% DASH $9.11
Euro (EUR) $1.07 Monero (XMR) $6.45
Chinese Yuan (CNY) $0.15 Augur REP $4.48
British Pound (GBP) $1.24 1 Doge = 1 Doge

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[VIDEO] Decrypting Bitcoin: Blockchain Technology Explained

Two of the co-hosts of Neocash Radio—JJ Epic and Randy Clemens—created this video to explain the benefits of using Bitcoin, as well as to provide an informative overview of how Bitcoin works under the hood to someone who may have never even heard of it.

If you’re new to cryptocurrencies: WELCOME! And if you’re an expert, we hope this intro video will be a valuable tool that you’re inspired to pass along to curious friends and family!

Through our new media studio—5th Quill Studios—we will be producing more in-depth videos to explain Ethereum, DASH, Steemit, and the Federal Reserve soon! (We’ll also be upgrading Neocash Radio to be a video podcast in the coming months!)

Bitcoin is so much more than just an electronic payment system…

Many call cryptocurrencies like Bitcoin “the future of money,” but a majority of people don’t really know much about them. What are cryptocurrencies? How do they work? How do you get them? Where can you use them? And what makes them safer, faster, and often cheaper to use than cash or credit?

We created this helpful video to answer these questions and more, walking you through an in-depth overview of this paradigm shift in money. You’ll see how Bitcoin is already benefitting millions of users across the globe, and you’ll learn how you can be one of them.

Join us as we decrypt Bitcoin, from its enigmatic beginnings in late 2008 to a look at its promising future. We’ll also explore the breakthrough technology underneath Bitcoin—”the blockchain”—and how it can change more than just our relationship with money; it can transform our societies, our governments, our businesses, and possibly our every interaction. Continue reading

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Episode 174 – The Federal Reserve has no exit, Ethereum Devcon 2 & more!

Bayer buys Monsanto with largest all cash deal on record. The New York Police Department has used civil asset forfeiture so much that it’s outdated computer system, allegedly, cannot even calculate the amount. The US government wants Deutsche Bank to pay for the financial crisis of 2008. The Wells Fargo executive in charge of the unit that made headlines with phony bank accounts walks away with a $124.5 Million dollar paycheck. Credit unions are looking more appealing in light of the recent bank scandals. The Federal Reserve has no way out of the terrible bailout strategy. A Federal Judge has ruled Bitcoin is money. The Bank of England and PricewaterhouseCoopers are looking to adopt blockchain technology. Synereo raises 3 million so far with a recently started fundraising campaign. We talk quite a bit about the latest news with Ethereum. Roger Ver’s Bitcoin.com pool mines the first Bitcoin Unlimited block.

All this and more on Neocash Radio episode 174 on September 21st, 2016!

We’ve written out short overviews of the topics discussed on today’s show below; be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Darren, and Randy!

Stream this episode of Neocash Radio here:

Direct Download – Neocash Radio episode 174 (MP3)


Tune in to Neocash Radio every Wednesday night and
RETWEET ALL THE THINGS @NeocashRadio!

Subscribe to Neocash Radio on iTunes / Stitcher / and Google Play Music!


Traditional Markets
Gold up $1337
Silver up $19.81
Oil up $45.62
DOW Jones up 18,293
30Y UST down 2.378%

Crypto Markets
Bitcoin (BTC) 597 Down
Litecoin (LTC) 3.77 Down
Dash 11.48 Down
Ether (ETH) 13.36 Up
Monero (XMR) 10.15 Steady
1 doge = 1 doge


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Episode 173 – Another huge bank scandal, IMF smells an uprising, and blockchain innovations soar

Here are the TL;DR headlines from today’s show:

Phony bank accounts a normal thing for Wells Fargo. Friday stocks drop but perhaps the news is being overblown. IMF managing direct warns: the natives are getting restless. Euro-zone is seeing price inflation for food. Finland tests out a basic income. Lykke Initial Coin Offering is underway, will it float? 2nd Largest BTC mining pool setting up a new pool for open-sourced testing of new mining techniques. SegWit is being criticized for the soft-fork approach. Is that a blockchain on your telephone pole? Utilities and the blockchain. Ethereum Classic is still kicking but for what and how will they innovate better than ETH?

All this and more here on Neocash Radio episode 173! Recorded September 14th, 2016 in Manchester, NH!

We’ve written out short overviews of the topics discussed on today’s show below; be sure to listen in to the whole podcast to get more information, insights, and thoughts on each of them from JJ, Darren, and Randy!

Stream this episode of Neocash Radio here:

Direct Download – Neocash Radio episode 173 (MP3)


Tune in to Neocash Radio every Wednesday night and
RETWEET ALL THE THINGS @NeocashRadio!

Subscribe to Neocash Radio on iTunes / Stitcher / and NOW Google Play!


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