Re: Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)
You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.
I think icebreaker missed that part:Quote from: Bitcoin: A Peer-to-Peer Electronic Cash System
What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.
Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.
Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.
Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.
Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.
Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.
lol this is blatantly false and you know it.
Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.
http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/
So it won't happen and bitcoin will be forked out at some point.
What a lame with his fiat companies
How many of these have positive cash flow denominated in Bitcoin?
Completely irrelevant comment.
Irrelevant? I don't see how.
These companies are irrelevant yes since most of them are only banking parasites trying to fit Bitcoin into their paradigm attempting to create closed gardens they can control.
A majority of them have no Bitcoin balance to speak of and are nothing but a bunch of old fiat money infrastructures and bureaucracy. It's likely half the amount of their venture raises are used to bribe financial and government officials so they can also get in the club.
As any entity on the Bitcoin network they are to be judged on their peer participation, bitcoin balance and reputation.
Your delusion that they have any importance is spurious and demonstrates how much of a low level noob you are. Bitcoin doesn't need these VCs and these entrepreneurs. It will succeed as a store of value and a peer-to-peer network for private payments. We absolutely can make it without your broken consumer attittude and your "mass adopters". Any thing the masses cling to typically turns into a worthless piece of shit anyway.
We stand to make sure this doesn't happen to Bitcoin and that's why if you're not happy with the code, fork yourself.