I semi like the concept of ETH with ETH being the network for distributing contracts (mini type of programs) and then charging "Gas" for hosting these programs
so that I could run a dirty as you like porn site (Joking) and no one could ever take it down but after looking at some of the code for these contracts it becomes
obvious that the scripting language (Java-script almost) is little more than a bean counter that runs on the network and allows you to store bean values in the block-chain so long as you keep paying "Gas" that must be paid for in ETH

Earning a bit of "Gas" by providing services to other ETH contracts that would allow them to validate credit card numbers via your service is not what
it is about (sad to say) because you are stuck with just talking within a closed system and cannot kick out using HTTP request and sockets to pull data
from the real world.

Fantastic for converting Red-Beans to Blue-Beans, having a balance and calling it money needed for a new ICO
and then having public history for the event held within and mixed up with the ETH block chain but not much
good for anything else from what I could understand.

I was kind of hoping for something like Tor's onion sites that would be fast and not going down if I un-plugged my
pc at home that hosts the site/service and would work without having to be accessed via Tor from the tinternet that
was Pay-as-you-Go for the service using ETH and GAS being charged based on the resources used by the site/program

Having said all that I think ETH has more to offer in it's own way than BTC were fork/clones might become ten a penny

Everyone except the current BTC miners and the bankers that own them and if you keep people thirsty by blocking the water well
then you can charge almost what you like for water if no one moves away  

Trust that was weak at best has been broken here over fees and tweaking the block size or time will buy some time but longer term
the block-chain needs throwing in the bin with all its flaws, least of which is PoW and we needed a new sleak mean machine if Joe
public arrives and they want to do micro-transactions which is kind of obvious anyway

See https://www.youtube.com/watch?v=6V365_59-Lc and learn whats on the other side of the coin

Yes we have one of these in the UK where small seller sell direct to buyers
bitbargain.co.uk/buy
if selling you have to pay them a registration fee of about $90 and it seems to only have
a about ten sellers but i thought it was a manual type system were they set the price in the
morning as off they go to work.

My evil mind had the plan of front running them and buying from them if the live price
shoot up before they noticed it but alas it was not to be, prices are linked to live prices
and go up or down during the day.

Longer term we should be buying or selling back to cash using what we call miners today
instead of brokers even if we have to have a 3rd party a bit like ShapeShift to deal with USD/GBP
payments and then these miners could offer a useful service instead of earning money from a
pointless race not that we would need 200,000 of them

"the difference between many of the competitive online only exchanges aren't that big"

I've seen over $700 difference on a single BTC today between two exchanges but i grant you that one being GDAX is
ten times bigger than the other one.

The old team lost it's bottle so can we trust them anyway and this move seemed to give a green light to put the
mining fees up and if the new team is a fake then how come the old team is not screaming it from the roof tops ?

Someone is weaving a deep web here and I don't think any of us really know what is going on and was this
mr 'S' from Japan as smart as some people make out he is then what was his plan for preventing this ?
More PoW to waste electric and sell GPU's maybe when he talked about a "Trustless" interconnection of computers

No i checked and they do have a site and will even answer emails and the price of B2X was about
$1,000 the last time I looked so if it is a scam then it's a very good one and I seem to be very
open to suggestion on jumping ship since BTC transactions fees hit the moon but this new/old
team do seem to be offering all things to all men but if it's free at 1:1 to anyone with coins
outside the control of Coinbase by owning your own coins on the block-chain

What have I got to loose on the deal ? Nothing I say

 

What shoots up in price and are you talking pre fork or long term because when you double the money supply it is called inflation
but reading Satoshi's white paper you would think he had it licked by limiting the supply to 21m so again
this is an area where BTC has not achieved what it said on the box.

Firefox developers all seem to say one thing but when you look deeper and see how in bed they are with
Google you start to understand the deception and dig a little bit more and you find out the google "Donate" tax free
of course $50m a year to the firefox team who are all based in India these days

The world is falling apart, greed has taken over from logic and trust

Yes I picked up of something about this not being the same team but it's hard to see whats propaganda and whats not and
did you notice how BTG got DDOS as soon as it stated and we can all guess who was behind that attack.

I have this wild theory that this public BTC block-chain is not owned by anyone and therefore I can take a copy and
then get the open source BTC code and put a flag in the coin to indicate it's now called the "Alt-Cen" and set up a few
servers and away I go and because I am so rich, well i can give everyone some free coins at 1:1 if they were on the
old block-chain.

Look give me $1,000,000 and i will even share half my evil new company with you and let you keep all of
Satoshi's coins only because I think his Pow and block-chain is a pile of crap and the wheels are now falling off it

The name is B2X and i looked into it for a few hours and yes it does seem to be real but it's as if
Google is keeping news about it off the screens for now and maybe it was rushed out to stop people
dumping BTC before 28th Dec due to prices going down thanks to high transaction fees.

This "Everyone" could be everyone that runs mines and don't want to take a hit on profits
but it's becoming clear to me that nothing about BTC should be trusted and you might
like to view the link given below

https://www.youtube.com/watch?v=6V365_59-Lc

I moved my coins out of Coinbase and on to the real block just to ensure I had a stake
in this new segwic2x fork yesterday instead of having to see if Coinbase would give me access to
my free gift or not in six months time which might not be fraud but it's the next best thing.

I use to have this big red V8 sports car and all my friends wanted one but then
my girlfriend dropped me and the price of gas went up and the value of my pride
and joy shot down.

Do you think it was because my girlfriend dumped me or because the gas
price went up on my V8 12 MPG ram-rod 

Yes Bid/Ask and both exchanges had a small spread down to about the last cent so orders were flying
out the window as they became matched and both were priced in USD and yet at times they were out of
sync by $500 or more per BTC so yes they matched the buyer/seller to get paid in fees but they are miles
out on matching exchanges.

Prices on GDAX are being driven by computer programs using a type HTF
because you would see something like this for BTC

14.26100000 $15,4321
13.28100000 $15,4321
11.22100000 $15,4321
10.20100000 $15,4321
 4.20100000  $15,4321
OK no one buying big amount at this price so try again
14.26100000 $15,4319
13.28100000 $15,4319
11.22100000 $15,4319
10.20100000 $15,4319
 4.20100000  $15,4319

The other exchange did not seem to be doing any of that

Both exchanges to cross trade i looked at use USD or it looked like that to me on the surface of it so I thought
you would just send USD$ direct so they could not skim off the top to one exchange and then use say the ETH network to
shift your Buy/Low/Sell/High coins over to the other exchange and sell back into USD  

I suspect what you say is right because Coinbase held GBP for me but to get the money back in my bank it
was sent via SEPA and that uses Euro so it needed converting at both ends and that cost comes out my pocket.

Thanks guys, some very good answers here

I am not good at maths so maybe you can help me

60 seconds in a min so that's 3,600 per hour and we times that by 24 to give a total of 86,400 seconds a day

Now it get complicated processing the transactions because we don't have any dead periods waiting for new orders
to arrive so instead of processing seven a second like the max speed is on BTC we will call it eight instead for the reason given.

86,4000 X 7 = 604,800 without me even having to cook the numbers so maybe you can help me
with my mistake b/cus i am useless when it comes to maths

Just think these miners will be sitting in the cold after about (top of head) eight hours because they use these
power hungry mining devices to heat the room they are working in and they won't have much work to do.

Indeed you are a smart man !

Hope you stack a little silver/gold like me and I hope BTC plays a part in pushing the price down even more
and I am sure you can work out why and those that mine it are real nice people and will even post it to my
door with transaction cost being free after stamping a nice little picture on the front of it.

I hope it does not go quite as far as that because of the knock effect but today you are my hero because I thought
that i was the only one here that dares to call in to question the block-chain or Lightning but then I noticed your
advert in the footer that many addictive gamblers here tend to use to peddle their wares but in your case I
decided to click the Youtube link .

I would send you a $1 in BTC as a compliment if you pay the $40+ transaction fee for me
but if you have a BTG address then games a good one.

The block-chain is the problem and that's without mining (Revving engine with car out of gear)

" (or any other crypto for that matter) "

Would you agree that VISA uses digital money that uses encryption for security and would you also agree that
VISA can process 25,000 transactions a second and they do all this with hundreds of time less processing power
than the BTC network has at its disposal ?

VISA is also decentralized to some degree or else I am sure ISIS or a power cut would had taken it down by now
and yes I am aware that CryproKittie nearly took the ETH network down but again, what would you expect when
its using block-chain even if it is version two.

Maybe i have helped you to answer your own question here.


 

The facts and numbers to you must be more like "Hate Speech" surly and now all you have left is insults
and hot air but miners have lots of that due to over clocking the GPU's and then having to cool them down
so I won't take it personal anyway

Nice signature i see but should it not read "Anything that is not BTC is a Ponzi scam, trust me I am here to defend the faith 

If bitcoin goes to zero then the miners will still want transaction fees and many of the slot machine players
that frequent this forum won't blame them.

Sorry the bread today and jam tomorrow (Well six months) Lightning Network fix does not quite do it for me
and the miner monopoly is not only holding us hostage but they are also holding the team developers hostage but
they have themselves to blame for that don't they.  

Remember the boycott of trades that's been planned to send them a message because it is their greed
that will send it to zero and not ours.

Yes ye old block size via the block write speed argument but this is linear and you have to take into account orphans too
but much more trouble is coming our way and it's lographic because already the ledger comes in at 200gb but to process
a wallet to stop double spends you have to first go back down the chain and trace the history of each coin part making up
an amount back to the creation of the parent coin s in the end the processing will more or less grind to a Holt as the history
becomes longer and longer.

7 Transaction per second is BTC speed limit and this satosi is not seen as the second coming of jesus in my book
and if you look around then already new systems exist like IOTA using Tangle which seems much better at first glance and VISA-card
has to handle more than BTC does just in the little town where I live not that i am really comparing apples with apples here.       

Sounds like a nice story but would you like to listen to my version ?

Well 90% of all miners belong to ten mega big groups and they all refuse to process transactions unless
the transaction fee amount is sky high and if a miner outside this group decides to offer a service at
a normal rate (<$0.10) then this 90% monopoly rejects the changes so it never gets put in the block-chain.

Cast your mind back to the release of BTG and the DDOS and ask yourself who was behind the attack if you
believe we are not dealing with anything other than a Mafia organisation who have seized control.

The active input to the network from the market is only 14kbs and is not making all these servers break out
into a sweat but counting silly things like grains of sand in a cup to see which computer can guess the number first
in a cyber arms race does tend to warm up the old CPU and the plant too.  

Little boy racer i was aware of BTC when it was trading at a mere $0.15 and if you go back to the white paper then you would see the
term "Virtually free" when it came to transactions costs and $40+ is anything but that.

Your in a race to compete for a prize with all this hardware you have that is offering next to nothing of any use to me

Lets do the sums between us

Max transactions per second = 7
Average packet size (inputs, outputs) = 250 bytes
250 * 7 * 8 =14Kbs

"Bitcoin is not and will never be a free service"

You will want it priced in bits next instead of bytes so pop outside, rev the boy racer without driving anywhere
and wait for a big guys from "Green Peace" has a few words with you.

"IF the fees can be spread among enough users the fee will come down"

So are you saying that at the beginning of the year when fees were near zero that we had less users than
we have today ? Tell me, what you smoking because i want some and the chances are that i was cutting
code before you even started school