BlockExplorer To Support Bitcoin (Cash) Over Bitcoin Legacy

Dear BlockExplorer users,

BlockExplorer.com will be supporting Bitcoin Cash over Bitcoin, which we feel currently has a negative momentum path when it comes to utility. Going so far as to change the default BlockExplorer.com to show Bitcoin (Cash) over Bitcoin Legacy. BlockExplorer CEO, Rick Falkvinge, wrote in the announcement:

In August 2017, Bitcoin forked into two variants. These have taken radically different paths.

Looking at the situation one quarter later, it is clear to us that the Blockstream fork of bitcoin diverges so radically from the ideas presented in the Bitcoin white paper, that it is an evolutionary dead end. While it may still have high trading value, as a mere collectible of curiosity, the Blockstream fork of bitcoin is not part of building any future financial infrastructure, which is what Block Explorer is about.

A currency of the future has subcent optional usage fees and instant transactions. The Blockstream fork of Bitcoin (“Bitcoin Legacy”) is at $20 usage fees and rising, with no end in sight, and can take days to confirm, despite unfulfilled promises to the contrary on both points when Segwit activated in what can only be described as a community fistfight. We are therefore making the decision to consider the Blockstream fork deprecated, and support it as legacy technology only.

Rather, we have made the decision to support the only bitcoin fork with a postive utility momentum, which is Bitcoin Cash. We took an early decision to deploy a Bitcoin Cash block explorer and will continue to roll out related services. We are also deploying tools for other cryptocurrencies we find on a positive momentum path, such as ZCash, which have increased privacy value.

We will not add future support for the Blockstream fork of bitcoin (“Bitcoin Legacy”), and will be deprecating it entirely at some future point in time to be determined. Developments have revealed it to be a dead end. At such a time, we will refer to Bitcoin Cash as Bitcoin only, but will make some effort to not break API calls by changing URLs of legacy automated systems.

Developers: Note the BlockExplorer API is changing

BlockExplorer’s API and website will change, so if your site references BlockExplorer for Bitcoin Legacy, please take note of the following changes:

  • https://blockexplorer.com will be switched over to displaying Bitcoin Cash data.
  • https://bitcoinlegacy.blockexplorer.com will display Bitcoin Legacy data.
  • https://blockexplorer.com/api will continue to serve data from Bitcoin Legacy for now until we feel confident we can deprecate it, in which it will then serve Bitcoin Cash data.
  • https://bitcoinlegacy.blockexplorer.com/api should be used immediately to use the Bitcoin Legacy API.
  • https://bitcoincash.blockexplorer.com/api should be used for the Bitcoin Cash API for now, until it is switched over to https://blockexplorer.com/api

Happy Genesis Day: Today, at 18:15:05 GMT, the Bitcoin Blockchain Turns 9

bitcoin genesis day

Genesis Day is a Bitcoin holiday celebrated on January 3rd, the day that Satoshi Nakamoto mined the first block of Bitcoin – thus creating the world’s first blockchain. These were the words on the Bitcoin blockchain genesis block, the first block on the blockchain:

“The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

It was mined by Satoshi Nakamoto himself at 18:15:05 GMT and  attached the words to prove that no pre-mining had occurred. The first block on the “block chain,” as Mr. Nakamoto called it. Nakamoto then disappeared a few years later, leaving core developer Gavin Anderson in charge. Today is the anniversary of the creation of the bitcoin blockchain, so let’s have a look at Bitcoin’s past since Satoshi left at the end of 2010.

Happy Genesis Day! A brief look at the Origins of Bitcoin and the path it has taken

“Bitcoin” first appeared in our lexicon on 31 October 2008 on a cryptography mailing list as a link to a paper written by Nakamoto about bitcoin itself. The paper detailed how bitcoin would work, and soon after the release of the whitepaper, the genesis block was mined, and the bitcoin network was online.

Fast forward to 2012, the price at the beginning of the year was $2.00, with the price rising to $13.00 in December. Bitcoin picked up some early media coverage in an episode of The Good Wife – specifically in a season 3 episode titled ‘Bitcoin for Dummies’. Later that year, the Bitcoin Foundation was created. In April 2013, The Pirate Bay began accepting donations in bitcoin.

In 2014, the price passed $1000 for a short amount of time, before falling to around $200 later in the year. The network hash rate surpassed 10PH/s, the network would later pass 100PH/s. And in February, Mt. Gox, a large exchange at the time began to refuse withdrawals, It eventually filed bankruptcy. Leaving a large number of its clients out of any bitcoin that they had stored with Mt. Gox at the time. In July, the US-based online computer hardware Newegg announced that it would begin accepting bitcoin. Later in the year, in December, Microsoft started to accept bitcoin for various services.

Three years ago… In 2015, the price hit a low of $200 and a high of $504, the highest bitcoin had ever been valued at. Coinbase reported in January that it had raised over $70 million in funding. While at the same time BitStamp was investigating a hack of their hot wallet, resulting in a loss of 19000 BTC – now worth quite a bit according to the BlockExplorer Market Data. In August,  Barclays announced that charities would be able to convert bitcoin directly to fiat currency in their accounts. In October, the Unicode Consortium received a proposal to add the bitcoin symbol to the Unicode specification.

In 2016, a slow and steady rise in Bitcoin’s price accompanied rises in transaction fees and volume. In 2017, Bitcoin forked a few times. Now that it is Genesis Day 2018: Let’s take this Bitcoin Genesis Day to look back on the path of the past and plan for the future.