you have displeased the thought police. Shame on you. Some of these "marginal" uses are terrible to consider. Extortion, kidnapping, and even murder
contracts become easier to set up. Extortion, for example, becomes almost unstoppable at the usual
place: the collection of a payoff and/or the spending of the payoff money Straight from May in 1996. 20 years later and it is finally becoming a reality. Im surprised they took so long- I would have thought the worlds assassins would be an impetuous client. Ignore them at your peril. |
|
|
|
Bitcoin now has a rather nice flag formation after the rise from 200-500 with little media fanfare. The alt's are waking up and the halving is approaching. The only thing keeping bitcoin back is the blocksize debate which will soon resolve either by a HF with majority of miner support, or with Core acquiescing to the demands of the market and miners (3 weeks!) and fixing a 2mb blocksize HF in the roadmap.
It isn't hard to see a perfect storm for bitcoin during times of further turbulence in the major markets, where negative rates are being introduced in Western economies as central bankers start to lose control. Previously there has been a hunt for return and yield with QE and cheap money post 2008 being used by banks to bid up stock markets and levitate asset prices. ZIRP has turned everyone into a speculator with cash offering negative returns and the markets looking crash prone now bitcoin may start to look mighty attractive as an asset class in the coming months with it's unique monetary properties.
The 1st world has had de facto ZIRP/NIRP for decades. But now the mere mention of de jure wealth confiscation sets off rallies in hard liquid assets like gold/Bitcoin, silver/Monero, and platinum/Ethereum. What a difference appearances make! Finally, my doomsday portfolio goes green!   |
|
|
|
It still requires trust, but as you say, for such small amounts its probably a moot point. I do actually like it, but I get such a buzz from winding you up that I just had to say it. I appreciate your honesty with being a troll... but we really do not need this distraction right now as we need to work together on finding solutions to increasing capacity and scalability. Is it just me, or does that really make you sound like a sanctimonious git? It's just you.  |
|
|
|
They seem to be 50% of this forum. Gmaxwell buddying up with them in the echo chambers isn't reassuring either.
I have noticed perhaps 2 that may fit that crowd on this forum off the top of my head. The MP crowd doesn't interact much here and typically stay on bitcoin assets. You realize the MP has made death threats against multiple people included Core devs, right? Core devs don't typically get along with that crowd, they have their own ecosystem and own implementation of bitcoin that is separately maintained. I think most casual observers would be hard pressed to separate the MPfags from the more extreme core fanboys. They occupy the same frequencies on the fundamentalist spectrum. Conversely, most big blockers would simply like the opportunity to choose. The manner in which that has been denied would make any moderate person worry for the governance of Bitcoin. I've no issue with the label of troll. I was labelled a troll ages ago for merely having the opinion that bitcoin value should be based less on foolhardy speculation and more on utility. So it goes. |
|
|
|
It still requires trust, but as you say, for such small amounts its probably a moot point. I do actually like it, but I get such a buzz from winding you up that I just had to say it. I appreciate your honesty with being a troll... but we really do not need this distraction right now as we need to work together on finding solutions to increasing capacity and scalability. Is it just me, or does that really make you sound like a sanctimonious git? |
|
|
|
Geeez another clueless thread by knight.
The employers will certainly not like this. It seems that we have identified yet another shill that is unwilling to listen to reason. Probably why there is still no lightning network neither other than vaporware.
"Vaporware".  You must be enjoying that kool-aid. I think you will find that you are mindless shill around these parts. LN is still at the prototype stage. What exists currently in roasbeefs repo is in no way a viable implementation of LN as Blockstream have envisaged it to be. Maybe his former USG employers at Google might give him an idea of how to make it super-private? With Tor maybe?  |
|
|
|
Geeez another clueless thread by knight. Dude I doubt you have the required IQ to understand this: https://www.youtube.com/watch?v=8zVzw912wPoAlso notice that this video is outdated already because thanks to Core devs malleability was fixed with segwit so Lightning Network is looking better than ever. Please stop trying to play the #R3KT game, you aren't qualified to debate highly technical stuff otherwise you would be pro-Core and pro-LN. LN is about developing a routing system that can make these type payment channels interoperable.
These 21 channels just let you open a channel and transact with one person (apparently unidirectionally). That's been in Bitcoin for a long time, but no one ever develops uses for it.
The LN will allow a person to open a channel like this and then send a payment to someone they haven't opened a channel with. In practice, the node the payor opens a channel with will have several channels open and payments will be routed between numerous payment channels until the destination is reached. This could take 10 hops, but it will be super fast because no confirmations.
By 21 adding this, they are simply incrementally building up to the eventual LN. It's a good step. Also, it's a good way to show the need for the LN; once people use this and like it, they will critique it for being limited to payments with only one person. What's on your link will never scale to the level LN can scale. Malleability is the least of LN's problems. how about: - route/fee dissemination and locating
- route format (no decision re: onion style (SRT bridging or any other)
- initial node finding
How about these points, Mr. IQ? |
|
|
|
Meanwhile ... 21 releases better code using the new CLTV opcode to setup a micro-payments channel to dramatically increase capacity with no need for a blocksize limit increase, and no added network tradoffs. Works with any device and free to use. https://medium.com/@21/true-micropayments-with-bitcoin-e64fec23ffd8#.t2iij7v71This will not be as inexpensive and powerful as the lightning network but is a great solution to resolve current capacity "problems" immediately. "Peer to peer electronic payments without the need for a trusted 3rd party" Bitcoin micropayments: as easy as opening a bar tab
How does this technology work? A good analogy is the idea of a bar tab. When you go to a bar, you typically put down a credit card to open a tab, enjoy your food and drinks, and then close out the tab at the end of the night. Bar tab? You trust the barman not to skim your CC? You trust the customer to not do a runner?(0-conf,anyone?\) Do you really think this is better? Is this "moving forward"?  The "barman" is merely a payment channel script(not a human) that uses the bitcoin blockchain for an Extremely fine-grained realtime billing.
Reduces the need for trust. Neither the merchant nor the customer needs much trust in the other person or any third-party, as the same cryptography used to secure regular Bitcoin transactions is used to secure the micropayment channel. Losses in low-trust situations are bounded and quantifiable; the worst a merchant server can do to a client using micropayment channels is to abscond with an initial transaction of 3000 satoshis without delivering a digital good. If compared to the much larger losses that can be incurred by trusting an insecure merchant server with credit card details, this is a step forward. Put another way: while pre-existing trust reduces transaction costs, establishing trust costs time — which is itself a form of transaction cost.
The consumer places the initial deposit in which the merchant can delay delivering a good/service or use other 0 Conf algo's to detect fraud in conjunction with the payment channel if a delay is not in their interest. Thus the risk is 1 US penny for the consumer. Yes, this is moving forward and very useful. The lightning network will be superior , but this is much better than what existing payment processors are using. Not that it matters ... but since you are such a Satoshi Fanboi here is another fact for you- The tech has a long history in Bitcoin — it was actually originally imagined by Satoshi Nakamoto when he designed two features called nSequence and Locktime, and a variant of it was later implemented by Matt Corallo and several other developers in BitcoinJ.
It still requires trust, but as you say, for such small amounts its probably a moot point. I do actually like it, but I get such a buzz from winding you up that I just had to say it. |
|
|
|
Another graduate of the Bram Cohen charm school? You really are a spastic of gargantuan proportions. LN has a fundamental difficulty with finding routes without hubs. Maybe you didnt get that update. 21 spanked blockstream good and hard. And you are doing a shit job of managing PR. |
|
|
|
 sure. Less of the gratuitous self-promotion, please, hdbuck. This is not the X-factor. |
|
|
|
Meanwhile ... 21 releases better code using the new CLTV opcode to setup a micro-payments channel to dramatically increase capacity with no need for a blocksize limit increase, and no added network tradoffs. Works with any device and free to use. https://medium.com/@21/true-micropayments-with-bitcoin-e64fec23ffd8#.t2iij7v71This will not be as inexpensive and powerful as the lightning network but is a great solution to resolve current capacity "problems" immediately. "Peer to peer electronic payments without the need for a trusted 3rd party" Bitcoin micropayments: as easy as opening a bar tab
How does this technology work? A good analogy is the idea of a bar tab. When you go to a bar, you typically put down a credit card to open a tab, enjoy your food and drinks, and then close out the tab at the end of the night. Bar tab? You trust the barman not to skim your CC? You trust the customer to not do a runner?(0-conf,anyone?\) Do you really think this is better? Is this "moving forward"? |
|
|
|
This sinister sounding abbreviation keeps popping up. BlindMayorBitcorn, I can't help but observe that flooding a thread with tripe-- as you appear to be doing-- when it isn't going your way is literally straight out of the GCHQ public communication subversion playbook. I really ought to know what this is I'm a part of. Its not sinister. Imagine the CIA, but drinking more tea. |
|
|
|
I don't know all about that purge non-sense ... we shouldn't stoop to their level and use violence, torture, kidnapping, and murder to effect change when we can write code and peacefully opt out of funding various crimes against humanity.
-snip-
Whoa brother... I was thinking more of deleting their comments and banning them from subreddits... followed by a little gentle DDoSing, no need to go that far. Welcome to the deep dark recess that is the mind of BitUsher. Please note: Blockstream are not responsible for family members who may go missing during the transition. |
|
|
|
-snip-
So 1 wire = 1 component, good to know. Stop with the nonsense. It's quite easy to spot the people who won't admit that they're wrong. You're not even trying hard enough. Again, how is this relevant to OP? Because it isn't. like you're always right? right? i think you need to stop being so cocky, really.... i dunno anymore who is worse, those that ignore the other while they think they are always right and actually post no-sense, or sig spammer A wise man accepts he doesn't know everything. A fool believes he knows everything. |
|
|
|
I like that it leads with catty insinuations... I would be interested to know whether Friedberg developed these interpretations while pursuing client work, or if he and his firm are just really into Bitcoin. I have to assume the former, since I am hearing rumors that some of the competing Bitcoin development teams are attempting to use lawyers to stop, or at least chill, the actions of others.
And ends with In summary, I believe I have fully refuted all of Friedberg’s perspectives on these matters. It’s sad that the legal world is so behind when it comes to Bitcoin.
In conclusion, I belie I have fully refuted all of Friedberg’s perspectives on these matters, i.e. Libya is a land of contrast. Thank you. I think you make yourself look mildly silly when trying to 'refute' an article of that nature. It was not meant to stand up to scrutiny, just to look credible for long enough to make an impact. No point in arguing the specifics of the law - they are probably correct per se. Its best to just sit back, point to it and laugh uncontrollably. Preferably into the authors face after a golf classic. |
|
|
|
http://www.riddellwilliams.com/blog/articles/post/hard-fork-conspiracy-treacherousThe current proposed “hard fork” replacement software seems at first blush to be a reasonable way to solve Bitcoin’s growth issues. However, due to the lack of consensus of applicable Bitcoin network participants, the enactment would create serious legal consequences for the creators of the new replacement software, unless the creators adhere to the rules of MSB registration and compliance. Bitcoin will now protect itself by using the LAW! Decentralised much? Such anitfragile. That article is mostly wank. There are also numerous state statutes prohibiting computer crimes which could be applied to miners who unilaterally convert bitcoin into a new type of virtual currency. Bitcoin users have a business expectation that their Bitcoin transactions will be processed by miners using the established Bitcoin protocol, and miners should be cautious about interfering with this expectation. If anyone thinks these statements are true wrt bitcoin, then they need to study it again. |
|
|
|
Which "general anarchist thought" would that be?
but if you insist, principally agorsim and anarcho capitalism, You run the risk of only attracting dyslexic wankers with that definition. |
|
|
|
Please elaborate, specifically.
I'll try We shouldn't hold any grudges against most Classic supporters and welcome them back in as our temporarily lost brothers in an act of solidarity.
The inverse of this sentence is that there are some bitcoiners who are not welcome any more in the community. There is also an appeal to solidarity and forgiveness towards those who were "mislead" into "false" beliefs. Those who genuinely betrayed the collective needs to be punished, those who simply were mislead will be forgiven. Unfortunately, I believe this drama will only temporarily go away. There were indeed many genuine XT/UL/Classic supporters but there were also many shills/trolls/ agent provocateurs supporting a contentious HF. Bitcoin is competing/undermining against some of the most powerful states and corporations and we should prepare for a vicious and difficult fight ahead. Here you claim that even though the storm may seem to have passed, evil actors are still active among our midst. These evil actors are backed by evil constellations and thus deserve no sympathy whatsoever. You point out the traits by which they can be identified as a passive encouragement to them being identified and punished by the collective. At the end you even actively encourage people to "prepare for a vicious and difficult fight ahead". Part of this is educating people towards the true principles of bitcoin, as many are still advocating code be written under the governance of democracy which would be tragic and goes against our current meritocracy consensus based development framework. As we grow our ecosystem this will remain a constant challenge we must overcome as most humans have been programmed to believe democracy is the best form of governance available.
Then you reiterate the dogma of the one and only way forward and basically warn against the horrors of the peoples rule and independent thought in the collective. To top it off you sound an alarm of the struggles of the future and promote eternal vigilance in the collective. This rhetoric is used regularly among collectivist populist authoritarian regimes to signal a purge in the population and maintain discipline.  |
|
|
|
the general investing ecosystem is now at ease that a contentious HF is no longer on the table.
In the next 3 weeks, we need the Bitcoin Core developers to work with us and clarify the roadmap with respect to a future hard-fork which includes an increase of the block size. It depends on how you strong arm the miners I suppose. |
|
|
|
ETH is seeing the bubble meant to be for bitcoin. Everybody is "waiting for the consolidation" to get in...
Sounds familiar!? > ETH is 2011 all over again.
any doubts? We talk Lightning while they steal our thunder. Didn't see that coming. In the next 3 weeks, we need the Bitcoin Core developers to work with us and clarify the roadmap with respect to a future hard-fork which includes an increase of the block size. They Think Its All Over tm |
|
|
|
|
Show Posts
