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0.16.3 was announced a few days ago, but if you're running a node and haven't already updated, then you really must do so as soon as possible. The bug fixed in 0.16.3 is more severe than was previously made public. You can download 0.16.3 from bitcoin.org or bitcoincore.org or via BitTorrent, and as always, make sure that you verify the download.

If you only occasionally run Bitcoin Core, then it's not necessary to run out and upgrade it right this second. However, you should upgrade it before you next run it.

Stored funds are not at risk, and never were at risk. Even if the bug had been exploited to its full extent, the theoretical damage to stored funds would have been rolled back, exactly as it was in the value overflow incident. However, there is currently a small risk of a chainsplit. In a chainsplit, transactions could be reversed long after they are fully confirmed. Therefore, for the next week or so you should consider there to be a small possibility of any transaction with less than 200 confirmations being reversed.

Summary of action items:

  • You should not run any version of Bitcoin Core other than 0.16.3. Older versions should not exist on the network. If you know anyone who is running an older version, tell them to upgrade it ASAP.
  • That said, it's not necessary to immediately upgrade older versions if they are currently shut down. Cold-storage wallets are safe.
  • For the next ~week, consider transactions with fewer than 200 confirmations to have a low probability of being reversed (whereas usually there would be essentially zero probability of eg. 6-conf transactions being reversed).
  • Watch for further news. If a chainsplit happens, action may be required.

More info: https://bitcoincore.org/en/2018/09/20/notice/

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Stickied postModerator of r/Bitcoin

Please utilize this sticky thread for all general Bitcoin discussions! If you see posts on the front page or /r/Bitcoin/new which are better suited for this daily discussion thread, please help out by directing the OP to this thread instead. Thank you!

Daily threads are fast paced! If you don't get an answer to your question, you can try phrasing it differently or commenting again tomorrow.

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Hey Reddit: Want to write better? Eliminate grammatical mistakes, wipe out wordiness, and let your ideas shine. See for yourself why over 10 million users are hooked on Grammarly's free writing app.

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I finally set up a Raspberry Pi Lightning Node to support the lightning network. Followed the guide by https://github.com/Stadicus which can be found here: https://github.com/Stadicus/guides/tree/master/raspibolt

The guide is noob friendly, the only time I faced hiccups is because of some screw ups by myself or misreading of information given in the guide. Plus the author is also quick to respond to you if you raise issues on his github.

Total cost would be around $150 for the hardware (the only reason it is so high is because I bought a new 4TB hard drive for the node, which is unnecessary. For the current size of the blockchain - 250GB, a 500 GB hard drive would do.)

Edit: Lightning Explorer pages haven't yet been updated with my node, I am not sure why. But I will link it as soon as I am able.

Here's the node on the Explorer: https://1ml.com/node/0283c1adbe3f7953fc20a452e8123d353aff2f19fde8f4e4a68cf0fe76dad7f99f

I have funded it with very minimal amount of BTC as I cannot afford to spend more on it at the moment. But I will be sending more funds over to support the network as soon as I am able to.

Feel free to fund my node if you guys think it's worthy. Here is the BTC address: 33Cmu8AdP1zNuz4UPTHE8NEZqe7LWBkBz7

I am open to any questions you guys might have, though most of the set up questions have already been covered in the guide written by the original author above.

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I used a stainless steel chain to encode my 24 words master seed. Since a 24 word seed requires 24*12 = 288 bits, the chain must have 288 links. My chain is approximately 12 feet long (3.7 meters). Each link is either pinched/twisted (binary 1) or normal (binary 0). The decoding requires going through all the links, every 12 links (12 bits) you get a word. It's a PITA to decode but it's a cold wallet, so I don't expect to do it very often. I don't even bother to remember the start link nor which type of link is a binary 1 or 0 since there are at most 4 ways to decode the chain (two directions and for each direction two different interpretation of the link).

A test recovery on a HW is mandatory before declaring the chain a proper cold wallet :-)

The chain can be buried or hidden somewhere, it's not that big. It is waterproof, fireproof and do not oxidize.

What do you think? does it make any sense? How would you mark the links? (pinching, denting, twisting, welding the link somehow, etc...)

Here my chain wallet, yes, it's just a picture of a chain (yet to be encoded!!!)

https://i.redd.it/uyxo7n0f4kn11.png

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...and holy cow, does it work beautifully.

I just made my first trade without any problems whatsoever. The setup was very fast due to the fact that there is no KYC bullshit or anything like that. I just created an account with my banking information and bam, made my first decentralized BTC exchange. It runs stable and the UI seems to be bug free, which stands in stark contrast to the piece of cabbage that is the kraken.com website (their support is amazing though I must say).

And even though there are not so many active offers there at a time (today was great actually, since it was Bisq September Market Kick-Start Day), I'm not worried at all that this is in fact the future of trading crypto. Try it if you haven't!

My appreciation goes out to all contributors. Well done everybody. Smashed the dono <3

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The Chinese are still hungry for bitcoin. Will they break the bank all over again?

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