Did satoshi avoid this in purpose to avoid possible game theoretical incentive problems so he made it strict bitcoin without side use cases?
Yes. The only thing keeping Bitcoin together are properly aligned incentives. As seen in the covert asicboost scandal, the smallest misalignment can wreck chaos.
Post
Topic
BoardBitcoin Wiki
Re: Request edit privileges here
by
goregrind
on 10/08/2017, 08:42:44 UTC
username: goregrind
Post
Topic
BoardBitcoin Discussion
Re: How to double spend - ( With Custom fee )
by
goregrind
on 10/05/2017, 12:30:31 UTC
One confirmation is as safe as it ever was, stop spreading FUD zero confs were never safe.
I don't see "bigger hubs" being a relevant factor - or even a useful description - as to why these "bigger hubs" would be more attractive than one I spun up on a different server. What would they offer that someone couldn't duplicate quite easily? :-)
Suppose that everyone has an open channel to amazon. Given this everyone can pay everyone through amazon with just one channel open. You can spawn as many nodes as you want theres nothing you can do to get any payments routed through your node because X-Amazon-Y will always be the shortest path. The more connected your node is the more useful it is so new nodes have no use.
I can spin up a lightning daemon on one of my existing web servers quite quickly. And I could add bitcoind to it easily if it wasn't already on a particular machine. The barriers to entry are low. The cost on an existing server is negligible, but it can bring in revenue. It may be that this increases the number of bitcoin nodes because of this.
Whats the point of you being able to run a lightning node if no payments will be routed through it ? Just because you can run a node doesn't mean it will be used. You will have to compete with the bigger hubs on fees and uptime. The best lightning setup is with one central hub.
The strongest point of Bitcoin is its decentralization and this is why the scaling debate is such a big issue. Why is it that we're now ok with centralization ? If lightning leads to a few centralized hubs then we need to design it in such a way that this won't cause issues further down the road. We're taking this too lightly.
Post
Topic
BoardBitcoin Discussion
Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell
As an act of good faith, and to resolve this fight amicably so we can all move on, we have decided to split off. We wish all the best to those who continue on the other path.
Bitcoin is finally saved! Bitcoin Classic has decided to end this BullShit SegWit vs. BU drama by simply splitting off. This is actually a really good news because we get the good old Bitcoin back and we can be sure they are not trying to implement anything crazy and dangerous such as the SegWit soft fork hack or ermergent consensus. Both suck. Bitcoin Classic is the way to go, we get block size increase and gradual enhancements to the Bitcoin protocol. I'm with Bitcoin Classic.
To be entirely fair, it was core supporters who artificially crashed the market by selling 20k btc on bitfinex and gdax after the first xt block was mined. So if anything, the selloff was core supporters trying to manipulate the price...
So your argument is that blockstream will have the biggest hub. Can you tell us why you think so ? What does blockstream have that nobody else running a hub has ?
the DNS seed that controls the routing.... obviously
the DNS seed is used for jumpstarting bitcoin nodes not for lightning
thats a bitcoin DNS seed
LN has its own DNS seed.. remember rusty russel of LN is a blockstream employee remember Cdecker is LN is a blockstream employee - https://github.com/cdecker/lseed
Quote
A DNS seed for the Lightning Network
edit to counter the fail of calling it Fud/conspiracy from trainwreck
Ok. How can this be abused ? This is for convenience just like the bitcoin DNS seed. Every lightning node operator will make sure its well connected to the rest of the network so this is a minor nuisance even if abused.
Post
Topic
BoardBitcoin Discussion
Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell
So your argument is that blockstream will have the biggest hub. Can you tell us why you think so ? What does blockstream have that nobody else running a hub has ?
the DNS seed that controls the routing.... obviously
the DNS seed is used for jumpstarting bitcoin nodes not for lightning
Post
Topic
BoardBitcoin Discussion
Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell
To be entirely fair, it was core supporters who artificially crashed the market by selling 20k btc on bitfinex and gdax after the first xt block was mined. So if anything, the selloff was core supporters trying to manipulate the price...
Care to back that up with some proof ?
Post
Topic
BoardBitcoin Discussion
Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell
Bob Cindy ^ ^ v v alice < > blockstream/DCG < > Felicia ^ ^ v v Dave Eddie
So your argument is that blockstream will have the biggest hub. Can you tell us why you think so ? What does blockstream have that nobody else running a hub has ?
Post
Topic
BoardBitcoin Discussion
Re: Fuck: SegWit, LN, Blockstream, Core, Adam Back, and GMazwell
I`m newbie in many things, can you please explain to me what is the difference between real and fake bitcoins? How can we notice the difference? I understand that some dev`s have different opinion on how should bitcoin be upgraded, many things are complicated for me to understand, can someone clear up things for me? Whom to trust, I noticed some names, and many people argue what is right, and everyone tell some other story. I`m ordinary man, and I think there is many people here just like I`m, how can we know who tells the truth and really wish good for bitcoin, and who is looking for fast profit?
Its a hard choice - on one side you have the bitcoin developers and thinkers who have devoted their time on making the world a better place on the other side you have two rich guys that have done nothing for world except make themselves richer.
Post
Topic
BoardBitcoin Discussion
Re: How can i contribute to bitcoin network (15-25 usd budget / mo)
I want to contribute and help bitcoin network. The first thing comes to the mind is "mining" or "being a bitcoin node"
I'm really up to hosting a node, but i'm scared of the law side of this thing. (I may help a drug money without knowing) or something like that. But i want to be a part of this network and help it for free.
Please share your ideas.
Thank you!
Running a node on a vps won't make any positive impact to bitcoin. If you want to help the bitcoin network just buy $15-25 worth of bitcoin every month and HODL
You don't need Greg Maxwell's permission. This is Bitcoin. The code is open source.
this is a shitty thread but this is an angle that's often rolled out that doesn't quite ring true for me. that's like some fat mom in an arkansas backwater deciding she wants to run for president. you can certainly do so and no one's gonna stop you. no one's gonna pay you the slightest attention either.
How come it doesn't sound true to you ? Are you implying that in order to feel that thats true you need to be able to modify bitcoin according to your wishes and everyone needs to follow ? You can both modify bitcoin and run for president and the number of real followers you get is a direct metric of how good your ideas are. If you're not getting any followers and you still feel you're in the right then nobody can help you.
As of right now, this statement holds true and encompasses every human on earth.
every human on earth huh? do you know every human on earth? are you inside the mind of every human on earth? if you say many human beings are religion minded i would agree with you. but you both cross the line from being correct to over exaggerating. you do you speak for every human on earth. if you want to be taken seriously choose your words more carefully.
Yea we get it, you're special. Now get off your high horse
Post
Topic
BoardOff-topic
Re: Steady Way To earn Bitcoin Online...
by
goregrind
on 27/05/2016, 07:30:18 UTC
work for it
Post
Topic
BoardDevelopment & Technical Discussion
Re: Simple logic to avoid confusing tx fee with transaction amount
I was thinking about the person that accidentally sent about 300 btc as a fee and .001 as the transaction amount, and it occurred to me that some simple logic could be put in place to avoid that. Just add a check to see whether the tx fee is larger than the amount being transferred and if so, either warn the user or reject the transaction or whatever. I don't recall what wallet he was using, but I haven't heard that any wallet has such simple logic yet....
The reason this simple logic doesn't work is because there are valid transactions where the amount transferred is less than the tx fee.
Post
Topic
BoardBitcoin Discussion
Re: Are so many cryptos good for the world? Or is it better to have only a few?
by
goregrind
on 11/02/2016, 16:38:39 UTC
We can all voice our opinions... but in the end whats good for the world is for no one to decide