Bitcoin Forum

What is this, reddit?

Peter Rs presentation was very good, but I think that pun about blockstream is completely unnecessary. There's enough bad blood so no need to add more fire to the flames.

Yes, very good presentation. The quote of the century needs to be spread as much as possible. Otherwise the presentation doesn't get the attention it deserves. That's why some people already spread it on other social medias.

https://www.google.com/search?q=%22in+the+end+i+believe+production+quota+will+fail%22&ie=utf-8&oe=utf-8#q=%22in+the+end+i+believe+the+production+quota+would+fail%22

Bitcoin is as strong as it's user count and monetary status of said ones. At this point that strength is lower than the "interest groups" you're talking about,
so i wouldn't be too optimistic. Atleast not for now that is.

cheers

what happen with bitcoin in 10 years later??

If BTC goes places then the current crop of overlords will look impossibly quaint and will be rapidly forgotten. It's kind of embarrassing that a supposedly world beating phenomenon is being squabbled over like WoW raid gone wrong. I'm looking to the day where they're an irrelevance.

You mean to say they're actually relevant now?   ???

The idea that Bitcoin will cause a global economic collapse or that it will seize the power from the mostly unnamed "corrupt elites" is laughable.

A digital currency won't seize the means of production. It has zero chance of changing military hierarchies. A digital currency by itself is incapable of "totally changing the world."

Any advance of cryptocurrencies to seize large %'s of global markets will require old money to get on-board.... more or less rendering the anti-establishment rhetoric impotent.

Only time and mass adoption will tell if these dams will break. Bitcoin has way to go.

Have fun trying to keep bitcoin decentralized with a blocksize big enough to keep all transactions, no matter what, on chain and with micro fees. This is unfortunately a pipe dream. Bitcoin or any other technology unfortunately deliver this so we are stuck with solutions like blockstream + "let a fee market develop" approach. So until someone comes up with a better idea just deal with it. It's better than centralized nodes.

where can i watch the video replay

It was on youtube but it was later removed (along with the other talks for that session).  The videos for all the other sessions have now been posted so this is the only missing session.    

Was there any talk about the BIPs, especially BIP 105 (https://github.com/bitcoin/bips/blob/master/bip-0105.mediawiki) & BIP 106 (https://github.com/bitcoin/bips/blob/master/bip-0106.mediawiki) in the whole session ?

This conference was aimed at presenting research related to scaling bitcoin in order to "set the scene" for future proposals.  The Hong Kong conference is intended to discuss concrete proposals like BIP105, etc.  So, no proposals were presented during PowerPoint talks, or discussed at round tables.  

Great presentation.

why?

I'm not sure. Some are saying that it was censored; others are saying that there were technical difficulties. What is strange though is that people from the conference said to me personally that it was posted for a while before it was removed.

sounds potentially fishy. let's keep an eye on the situation.

"What is needed is an electronic payment system based on cryptographic proof instead of trust"   -Satoshi

P.S. Also, Sprach...

"Every post the mods censor, every user they ban, just for disagreeing with the approved perspective, makes us even stronger." (statoshi)

Indeed. I guess many do not realize the number of transaction and block sizes that would be involved.

Just to handle the transactions from Starbucks you would need 10 MB block size on average, and 100 MB to handle rush hours without too much lag. That's a single company, a global one, but just one.

You're right.If there is one thing out there I hate most it is censorship! Definitely very fishy imo.Not good at all!

Do you know the difference between a pun and a metaphor?

We don't have to take every single transaction on chain. I think everybody will agree that this is almost impossible. So solutions like payment channels (Lightning Network) and sidechains are needed no doubt.
However we can raise the Blocksize up to a certain level. What is speaking against an increase to 2 or 4MB and then continue with an increase which grows equally as technological progress?

Thanks!  I just hope it gets put back up on YouTube.

Current direction it is heading towards, i can imagine it would fail big time. When it was supposed to be the greatest invention ever made becomes an epic flop.

Here's what a conference organizer said when I asked about the Day 1 Morning session videos being missing:

There's a transcript, not sure how complete it is.
http://diyhpl.us/wiki/transcripts/scalingbitcoin/peter-r/

Live fast, Die Young, Make a beautiful corpse :D

2 or 4 MB would not mean much in terms of increased usage, you need at least one order of magnitude to make a meaningful difference, going from 1-10% of Starbucks' tx rate to 4-40% would still look just quite inadequate.

That said the current challenge is more propagation times and the risk of orphans.

Even with the "stress test", we never went above 80% of fill rate, and this time it's much less (60-70%). It just does not make economical sense for miners to fill blocks and risk getting orphaned because their block propagated too slowly.

Outside of stress test, blocks are at 30-50% fill since early january, indicating either a lack of demand... or a miner soft limit wrt propagation.

How many people attended the session? Nobody thought to record some video...? I did watch some of the live streaming and enjoyed the masters of ceremony the most.  ;D

What a character ...." Gavin I want your babies " will be stuck in my brain forever....  :o .... I missed out most of day 2, but I am catching up as we speak.  ???

The transcripts and the video should not be censored, because it just puts fuel on the fire. Let's just be transparent.  ;)