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Why your business should use a full node to accept bitcoin
When a centralized web API like blockchain.info goes down, any business payment processor relying on them will go down too.
A full node is part of a peer-to-peer network, which has very strong properties of resilience and uptime. The p2p network will never go down unless bitcoin itself dies.
Bittorrent, a similar p2p network to Bitcoin, is known for its unrivaled uptimes.
World’s Oldest Torrent Is Still Being Shared After 4,419 Days (JANUARY 24, 2016)
The torrent file of The Matrix ASCII was created more than 12 years ago (4,419 days) on December 20, 2003. Even though the original site is no longer online, it still has 8 active seeders at the time of writing.On the other hand, web APIs like blockchain.info that have a single point of failure go down all the time.
There are also people actively downloading the file, most likely after they found a copy of the release on one of the torrent sites where it remains available. To the best of our knowledge, this means that The Matrix ASCII is the oldest torrent that’s still being actively shared.
Often businesses use bitcoin in sectors that are frowned-upon or outright blocked. One of the very early uses of bitcoin was by Wikileaks to accept donations after Paypal and Visa imposed a worldwide blockade. Many online poker sites in the US are also blockaded by banks and payment processors and so use bitcoin instead.
In one cases a payment processor attempted to strongarm a business into spying on their users.
Seafile is a high-performance, fully-encrypted, open source file storage and syncing solution. The service competes directly with Dropbox and other major cloud service providers.http://bravenewcoin.com/news/seafile-accepts-bitcoin-after-paypal-shenanigans/
“From Sunday June 19th 2016 we are no longer allowed to accept payments via PayPal,” states the company Blog. “PayPal has demanded that we monitor data traffic as well as all our customers’ files for illegal content. They have also asked us to provide them with detailed statistics about the files types of our customers sync and share
“Since complying with this demand would violate German / European data protection laws (and also be morally wrong in our opinion) we have declined to comply with this demand.”
If your business fits this profile, switching out one centralized payment method (Bank Transfer, Visa, Paypal) for another (Bitpay, Coinbase.com, blockchain.info) is risky and leaves you vulnerable.
A Bitcoin full node is the most censorship-resistant way of using bitcoin. By connecting directly to the p2p network, nothing can stop you from receiving or sending payments.
If you use a centralized web API or payment processor, that institution will know what all your bitcoin addresses are. It will know what your business's entire cash flow and income is.
On July 20th 2016, the owner of the torrent site KickAssTorrents was arrested and the website shut down. One contributory factor was that the owner accepted bitcoin donations using Coinbase.com's payment processor.
In 2012, KAT started accepting Bitcoin donations, and U.S. officials say records received from Coinbase revealed the Bitcoin donation address was maintained by the exchanges services. The Coinbase account was registered to Artem Vaulin located in Kharkiv, Ukraine. The affidavit reports that $72,767 USD in bitcoin had entered the owner’s donation wallet.A bitcoin full node does not reveal to any third-party server which addresses are in it's wallet. It downloads the entire blockchain history from the p2p network, and therefore preserves your privacy in this respect.
Counterfeit Prevention and Consensus Verification
This is probably the most important reason, although it's a little complicated to understand.
If your business took cash banknotes or gold coins as payment, you wouldn't accept them without carefully verifying that the banknotes were genuine or that the gold was real. The same is true with bitcoin.
For a bitcoin to be genuine, it must follow all the rules of the bitcoin network. Rules like:
- Nobody ever spent coins without holder their private key.
- Nobody spent the same coins twice.
- Nobody ever created money out of nothing (except for miners, and only according to a well-defined schedule).
- Nobody violated any of the other tricky rules that are needed to keep the system in check (difficulty, proof of work, DoS protection, ...).
But if an bad actor were ever to attack Bitcoin in this way, it would likely be an attack on the entire currency rather than your single business. So if Bitcoin is valuable to you, and you want to see it survive then it is essential to use a full node instead of a payment processor or lightweight wallet for your business' transactions.
For more details on this economic consensus argument, see the full node page on the bitcoin wiki full node page or the developer guide
TOR is broken. Markets is over ** DO NOT UPVOTE
if u order from wall St after maintenance
if u order from nightmare market
ur a idiot if u continue to use markets or vend ,ur a moron. (in my personal opinion)
Why u think dark taxi and big dogs left and only partysquadNL( safe in Netherlands embassy) is existing after hansa market trojan task operation..the big dogs already knew u morons
deepdotweb our supposed savior ... posted 10 new markets over night just in time for ,operation final kill , nightmare is super new and being heavily promoted on there own dread and wallst mods , open ur eyes !!
the comments to keep using wall st ...to the update on there own site to say " it was jus maintenance" ( it was jus being rooted) ...
EVERYTHING is for operation final kill , u fuckin trade there credit cards and push fentanyl and even fuckin Carfentanil , good riddens , out of the ashes will be designer markets ....get out while u can
call this fud if u want , theres a reason all the old g's in the game are long gone into the shadows..
remember how they took over hansa and alpha and used hansa as a trojan horse, they destroyed it from the inside out
direct deals and wicker is the future, the new cats are already on it , they will make a name ..and then dissapear like loki2.0 on vacation or that one acid guy everyone used, more trust then using these markets, currently...
dream is rooted but the fail safe was activated, thus needed all the vendors and saps ,to move to the honeypot for sapping....
dream owner is the ONLY guy in the whole equation !! smarter then u and me and cia
u have become enough of a problem where DEA and CIA and euroPOL has joined forces, fuckin selling guns and things 1000x stronger then heroin to mankind ...north korean secret channels hacking bitcoins and creating super counterfeit 100 dollar bills to destroy western culture and there economy.....
hahah silent 0sec pre manufactured exploits on that " move the mouse to a certain point of the message and u been dll hooked level "
its there own technology , u morons ...tor is developed by who? wiki it please ....
they can see u from mars , from ANY vpn to TOR to KFC to whisper app....its jus toys to them..from pizza hut to that xbox 360 in iran to Saddam in a underground hole to ur simple tor exit's ...to the camera in your phone and xbox kinect...to depths of the ocean ;
EVERY company from Microsoft Facebook to google to apple to reddit to youtube to whatsapp has back channels designed for them, they unite under one umbrella to protect western interests ...they are GOD , nsa and europol ..how u think they get the coordinates of the terrorists for there daily drone strikes, u never seem to hear about anymore :-)
they hire the best of the best who sleep with the best...
if u want to continue using major markets that popped up over night, go ahead bro...
wikipedia : Streisand effect ...
u infect the staff then the admin....scam the customers , then u change there beliefs in markets ...then u scam the new comers some more..wash repeat in few years , markets will be all gone..works muchhh better then the seized sign
pt 1 expose:
this is my last post, anyways ,account starting to feel wierd already
freedom will always survive, just in different forms <<
RIP hotfiles fileserve RIP HANSA and DREAM RIP kickasstorrents
this is chess, not checkers