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Showing 20 of 1,904 results by Flashman
at the expense of full node operators.
Satoshi talks of nodes running in server farms and a lightweight client being the wallet for the average user. I don't see why the progress of bitcoin should be held hostage by the whiners who are too cheap to run a node on decent hardware, when it was never envisaged that anything less would be necessary in future.
Re: Bitfinex exchange owner admits to using inside information to trade on own platf
I think we need a decentralized transparent exchange
I think we need
This is fun.
Quote
Chancellor on brink of second bailout for banks.
And from that you get "Semi fungible high limit poker chips for the elite" ?
The critical mass will be reached not within years - maybe never.
Well I don't see why you're bothering with this thread then, since from that POV neither increasing nor leaving along the block size does anything.
In case you hardfork it, you hardfork it ONCE and when you have to, not twice a year when you feel like it and it appears to be 'maybe useful in the future'.
I believe the intent with raising it 20 fold is not to have to mess with it again for several years. We are on the shallow part of the adoption S curve at present, and when we hit the inflection point when true mass adoption occurs, tx volume may double several times within a year. That is not the time to be saying "Oh wait a minute everyone, just got to do a hard fork". And to go for minimal increase and have to do it more than once in that period would be suicide.
Evidence for the intention of Satoshi not to regard block size as a hard limit...
My bold highlighting
Currently, paying a fee is controlled manually with the -paytxfee switch. It would be very easy to make the software automatically check the size of recent blocks to see if it should pay a fee. We're so far from reaching the threshold, we don't need that yet. It's a good idea to see how things go with controlling it manually first anyway.
It's not a big deal if we reach the threshold. Free transactions would just take longer to get into a block.
I did a rough tally of 4000 blocks from around 74000-78000. This is excluding the block reward transactions:
There were average 2 transactions per block, 17 transactions per hour, 400 transactions per day.
Average transaction bytes per block was 428 bytes, or 214 bytes per transaction.
The current threshold is 200KB per block, or about 1000 transactions per block. I think it should be lowered to 50KB per block. That would still be more than 100 times the average transactions per block.
The threshold can easily be changed in the future. We can decide to increase it when the time comes. It's a good idea to keep it lower as a circuit breaker and increase it as needed. If we hit the threshold now, it would almost certainly be some kind of flood and not actual use. Keeping the threshold lower would help limit the amount of wasted disk space in that event.
It's not a big deal if we reach the threshold. Free transactions would just take longer to get into a block.
I did a rough tally of 4000 blocks from around 74000-78000. This is excluding the block reward transactions:
There were average 2 transactions per block, 17 transactions per hour, 400 transactions per day.
Average transaction bytes per block was 428 bytes, or 214 bytes per transaction.
The current threshold is 200KB per block, or about 1000 transactions per block. I think it should be lowered to 50KB per block. That would still be more than 100 times the average transactions per block.
The threshold can easily be changed in the future. We can decide to increase it when the time comes. It's a good idea to keep it lower as a circuit breaker and increase it as needed. If we hit the threshold now, it would almost certainly be some kind of flood and not actual use. Keeping the threshold lower would help limit the amount of wasted disk space in that event.
My bold highlighting
Re: Bitfinex exchange owner admits to using inside information to trade on own platf
Not sure this is avoidable until regulation kicks in (similar to trading standards with current trading systems) or how much impact it actually has on the markets.
imho, he has inside info on users accounts and how they could impact price movement, but its not all that huge a benefit as you might think and wouldnt be that easy to exploit.
we can all see the order book of the exchanges, knowing which accounts have lots of 'potential' with high balances to move the market doesnt mean they actually will use that potential in a predictable way and cause obvious price moves to exploit. not sure what other info this guy could have that cant be inferred from the public orderbook..
unless this guy was actually buying and selling in large amounts to directly affect the markets (like bots), not so sure the shock value is very high on this story (in terms of impact on the average user).
probably damages the reputation of the exchange more than anything... im sure hes getting more money from the fees than any insider trading info.
could be wrong ofc! i dont use their platform so not sure how reliable it is.
imho, he has inside info on users accounts and how they could impact price movement, but its not all that huge a benefit as you might think and wouldnt be that easy to exploit.
we can all see the order book of the exchanges, knowing which accounts have lots of 'potential' with high balances to move the market doesnt mean they actually will use that potential in a predictable way and cause obvious price moves to exploit. not sure what other info this guy could have that cant be inferred from the public orderbook..
unless this guy was actually buying and selling in large amounts to directly affect the markets (like bots), not so sure the shock value is very high on this story (in terms of impact on the average user).
probably damages the reputation of the exchange more than anything... im sure hes getting more money from the fees than any insider trading info.
could be wrong ofc! i dont use their platform so not sure how reliable it is.
I concur, and if he has any advance knowledge advantage, it's only on the fiat side, since other people can figure out exchange input addresses and see when BTC is flowing into them heavily.
Thoughts from 2013 (Outside the current emo-drama) ...
http://blog.oleganza.com/post/43677417318/economics-of-block-size-limit
Can any members of the self appointed Plutocratic League for Ending Bitcoins Servicability please provide references to any post of Satoshi's that emphatically states that the block size is intended to be a hard limit? ... annnnd don't do a cut and paste cherry pick, link it so we see it in context.
http://blog.oleganza.com/post/43677417318/economics-of-block-size-limit
Can any members of the self appointed Plutocratic League for Ending Bitcoins Servicability please provide references to any post of Satoshi's that emphatically states that the block size is intended to be a hard limit? ... annnnd don't do a cut and paste cherry pick, link it so we see it in context.
A thing that's forgotten also is that any hashpower that's idle is probably far more inefficient than what is running, so while a 51% is only regarded as marginally profitable anyway, in a strong market, an attack with the less efficient hardware would probably not be worth it.
Reasons for him to stay anon 
...
http://www.businessinsider.com/people-are-mad-at-linus-torvalds-again-2015-1
... http://www.businessinsider.com/people-are-mad-at-linus-torvalds-again-2015-1
Re: Why does anyone pay attention to people that study "economics"?
Seemed germane to discussion...
http://asia.nikkei.com/Politics-Economy/Economy/Expected-ECB-move-could-create-asset-bubble-UBS-chairman-says
http://asia.nikkei.com/Politics-Economy/Economy/Expected-ECB-move-could-create-asset-bubble-UBS-chairman-says
Re: Sucks its nearly impossible to sell tangible goods for BTC!
Lol, just saw I'm listed 
If anyone has a desperate need for a antique gearbox I can probably do something on the shipping 
If anyone has a desperate need for a antique gearbox I can probably do something on the shipping Dammit, wouldn't you know it, I'm all out of Unimogs at the moment.
Another bitcoin classified, a year to 18 months ago, I remember seeing a whole one for sale, was that you?
The one that makes the most sense is the exchange that you use to buy and sell bitcoins.
Seriously. If you can't/won't use other exchanges anyway, you're stuck with that price whatever the hell the market is doing. Though if it's a low volume place, you might get a couple of minutes worth of "lag" on price movements to take advantage of I guess.
Re: If you had to make a movie about Karpeles, what title would you give it?
Can you seriously imagine a Goxxed up coffee shop...
Customer: "Grande mountain roast please, cream and sugar."
goxminion: That will be $2.79 please
Customer hands over a $20
waits,
waits,
Clears throat.
Customer: I just handed you a $20, weren't you giving me change?7
goxminion: Have you got some ID
Customer: Why?
goxminion: *waves arms* governmenty terrist, anti customer know your laundry *waves arms*
Customer: pardon?
goxminion: ID or no money
Customer digs out ID, a cup appears on the counter...
Customer: WTF this is just a cup of hot water!
goxminion: Our supplies were stolen.
Customer: *shoving ID in face of goxminion* Then forget it, just give me back my $20
goxminion: Can't, it went into the bill safe, it's kind of a black hole, only top management knows what happens from there.
Customer: This is fucking retarded, how the hell are your doors still open and why?
goxminion: From obligation and loyalty to our customer base ...
Customer: "Grande mountain roast please, cream and sugar."
goxminion: That will be $2.79 please
Customer hands over a $20
waits,
waits,
Clears throat.
Customer: I just handed you a $20, weren't you giving me change?7
goxminion: Have you got some ID
Customer: Why?
goxminion: *waves arms* governmenty terrist, anti customer know your laundry *waves arms*
Customer: pardon?
goxminion: ID or no money
Customer digs out ID, a cup appears on the counter...
Customer: WTF this is just a cup of hot water!
goxminion: Our supplies were stolen.
Customer: *shoving ID in face of goxminion* Then forget it, just give me back my $20
goxminion: Can't, it went into the bill safe, it's kind of a black hole, only top management knows what happens from there.
Customer: This is fucking retarded, how the hell are your doors still open and why?
goxminion: From obligation and loyalty to our customer base ...
Re: Sucks its nearly impossible to sell tangible goods for BTC!
Don't you [OP] yourself think that you will be taking a big risk by selling your "tangible" goods for BTC, even if it becomes possible anyhow if you find any buyer? As it's currently uncertain to either investing in BTC or getting paid in it...
Yeah, let's put a stop to that risk for you, where's the bit-x sign campaign thread, I'm sure they appreciate posts counter to their interests.Re: Sucks its nearly impossible to sell tangible goods for BTC!
I wonder how much this is due to the "chilling effect" of eBay being lukewarm to sometimes mildly positive to the idea of using BTC. i.e. just receptive enough to put off anyone thinking about serious effort/investment into a crypto-eBay, because if eBay "switches on" BTC payment, it's game over.
So, solution to this is either to get eBay to stop being a cocktease and actually take it, OR somehow get them to be extremely antagonistic toward BTC, so people stop waiting for them.
So, solution to this is either to get eBay to stop being a cocktease and actually take it, OR somehow get them to be extremely antagonistic toward BTC, so people stop waiting for them.
I may be missing something, but why Sweden in particular, would be interested in doing that? I don't get it.
In any case Andreas should recieve the price, unless Satoshi himself wants to break his anonymity, which is highly unlikely.
In any case Andreas should recieve the price, unless Satoshi himself wants to break his anonymity, which is highly unlikely.
The day Satoshi breaks his anonymity is the day that the USD and Ruble have a 1:1 trade ratio.
I think that's pretty close to the same day be becomes a dollar hundred billionaire, if we're saying the dollar crashes that bad.
Re: Why does anyone pay attention to people that study "economics"?
Methane/methanol is the biofuel that could but won't. Storage, transport and adaptation problems are trivial compared to hydrogen. However, although it can be made very cheaply, it can be undercut by fossil sources, so until they are out of the game, bio won't fly. Also, most of the tech required is public domain now not patentable. Also feedstock can be so ridiculously cheap, like brush cuttings, lawn trimmings, waste food, dead leaves, human waste, that no lobby of suppliers is going to push it along either. Anyway, that will be our fuel of last resort, it's just sitting there waiting for other energy sources to get rare or expensive enough.
Re: Sucks its nearly impossible to sell tangible goods for BTC!
What was the name of it? also why would he shut it down?
If the one he meant was Bitmit, they were kind of vague about why they shut down, but the impression was that they were getting legal bully boy harassment from RIAA and MPAA and other copytrolls, insisting that any DVD, CD etc offered for sale must be a pirate copy
Re: Sucks its nearly impossible to sell tangible goods for BTC!
I am frustrated also by the lack of a BTC marketplace, either auction or Craigslist format, managing to attract enough users to be useful. Bitmit was getting there but closed.
The for sale section here is next to useless in that it's not well categorised, and the forum search function is next to useless for finding recent relevant listings in it.
For selling a car, you could try beepi.com which launched with a bit of fanfare but since then seems a bit static, also, while they used to claim they took BTC, that option seems very hard to find last time I looked.
The for sale section here is next to useless in that it's not well categorised, and the forum search function is next to useless for finding recent relevant listings in it.
For selling a car, you could try beepi.com which launched with a bit of fanfare but since then seems a bit static, also, while they used to claim they took BTC, that option seems very hard to find last time I looked.