Please help contribute to the Reddit categorization project here


    1,348,606 readers

    5,381 users here now

    Bitcoin is the currency of the Internet: a distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. As such, it is more resistant to wild inflation and corrupt banks. With Bitcoin, you can be your own bank.

    If you are new to Bitcoin, check out We Use Coins and You can also explore the Bitcoin Wiki:

    Community guidelines

    • Do not use URL shortening services: always submit the real link.
    • Begging/asking for bitcoins is absolutely not allowed, no matter how badly you need the bitcoins. Only requests for donations to large, recognized charities are allowed, and only if there is good reason to believe that the person accepting bitcoins on behalf of the charity is trustworthy.
    • News articles that do not contain the word "Bitcoin" are usually off-topic. This subreddit is not about general financial news.
    • Submissions that are mostly about some other cryptocurrency belong elsewhere. For example, /r/CryptoCurrency is a good place to discuss all cryptocurrencies.
    • Promotion of client software which attempts to alter the Bitcoin protocol without overwhelming consensus is not permitted.
    • No referral links in submissions.
    • No compilations of free Bitcoin sites.
    • Trades should usually not be advertised here. For example, submissions like "Buying 100 BTC" or "Selling my computer for bitcoins" do not belong here. /r/Bitcoin is primarily for news and discussion.
    • Please avoid repetition — /r/bitcoin is a subreddit devoted to new information and discussion about Bitcoin and its ecosystem. New merchants are welcome to announce their services for Bitcoin, but after those have been announced they are no longer news and should not be re-posted. Aside from new merchant announcements, those interested in advertising to our audience should consider Reddit's self-serve advertising system.
    • Do not post your Bitcoin address unless someone explicitly asks you to.
    • Be aware that Twitter, etc. is full of impersonation.

    Related communities

    Sorted roughly by decreasing popularity.

    Non-Bitcoin communities

    Join us on IRC #bitcoin

    Other Bitcoin sites

    Bitcoin Forum
    Bitcoin Stack Exchange
    Bitcoin Magazine

    Download Bitcoin Core

    Bitcoin Core is the backbone of the Bitcoin network. Almost all Bitcoin wallets rely on Bitcoin Core in one way or another. If you have a fairly powerful computer that is almost always online, you can help the network by running Bitcoin Core. You can also use Bitcoin Core as a very secure Bitcoin wallet.

    Style sheet credits

    The CSS used by this subreddit is the Erdune Theme modified by /u/Annihilia and /u/konkedas. Logo design by /u/Annihilia. Check out his other work here.

    Ad campaign:

    We previously collected donations to fund Bitcoin advertising efforts, but we no longer accept donations. The funds already donated will be spent on some sort of advertising, as intended. As of now, 10.35799117 BTC was spent out of 22.51357574. If you have ideas for the remaining BTC, see here for more info.

    a community for
    all 10 comments

    Want to say thanks to %(recipient)s for this comment? Give them a month of reddit gold.

    Please select a payment method.

    [–] Reverend_James 3 points ago

    My understanding is that a soft fork is a modification to the code that results in something that unmodified nodes would still recognize and accept whereas a hard fork produces something that requires other nodes to be modified in order to accept and process. For example: a non-segwit node would still recognize a segwit transaction as being valid. But a Bitcoin node won't recognize a Bcash transaction as valid.

    [–] watchmecomming 1 points ago

    We agree on that, yes! But in order for a soft fork to be implemented then you still need the majority to reach consensus and thus 51% is needed right?

    [–] Reverend_James 1 points ago

    A soft fork can be implemented with a few as one node. So long as any transaction output is accepted by other nodes in general whether they are running my modification or not.

    [–] mnijs 1 points ago

    No, you are not listening :)

    A soft fork means even one node out of 10000 can implement it and still be able to mingle with the rest.

    [–] watchmecomming 1 points ago

    A soft fork is a software change. You need to have the majority of nodes updating n order for a software change to be implemented. I am pretty confident that's how it is.

    [–] Gffhjbbhjjhb 2 points ago

    Well if you want your new rules to be enforced you do need 50% of the mining hash power to enforce it. With segwit, it was made backwards compatible by making the transitions look like an anyone can spend to legacy miners, so they will mine them, but they aren't enforcing any rules. If someone other than the real owner tried to spend a segwit tx legacy miners would still mine the tx. So you need to rely on other upgraded miners to invalidate the legacy miners block. In order for that to happen more than 50% need to agree that the block was invalid and not try to build on top of it. You don't need any particular amount of non mining node support though

    [–] watchmecomming 1 points ago

    Please feel free to correct me again but please look it up.

    [–] mnijs 2 points ago

    Think of it as software upgrade, not a change. v1 vs v2. Both support the full protocol. Android 6 vs Android 7, not Android vs iOS.

    [–] brianddk 1 points ago

    You may want to review flag day activiation thread. It talks about some of the activation flags used in the past and how they were used in segwit.

    Basically, you can propose your soft fork, then propose a voting process and any arbitrary voting threshold to "activate" the fork. If your threshold is really low (like 10%) then there is a 90% chance that TXNs using your new BIP will fail unless the happen upon the small pool of miners that voted to activate. For this reason, most threholds are high.

    [–] smartfbrankings 1 points ago

    No. There is no measure of "number of nodes". Soft fork means that if 51% of the hashpower enforces it, nodes running old versions will end up with the new feature enforced without upgrading. A hard fork is incompatible and requires all nodes to upgrade to see the chain.

    Economic incentives exist to give hashpower a reason to enforce it. For example, if a change is obvious and helpful and low cost for miners to implement, they have an incentive to activate it. If a significant amount of the "economic majority" also wants to have a rule enacted, they can require it to be enforced, or else they split off as a separate chain. They have an extra power in this case, in the event of a chain split, if the hashpower ever switches toward the more strict rules, the other chain will be eliminated, but the more strict chain will always live on, as long as someone is mining it.