Bitcoin Transaction fees are too high due to recent price hike it is the main reason for other fork coins to get momentum
You mean the miners decided to skim the cream from off our cake as prices started to go up and then attempted to lock us in. Looks like spending more and more money just so machines could keep competing against each other in a pointless race didn't quite workout for them Avoid block-chains if you can when looking for alt-coins because evolution will push them all out in the long term and if a small amount of semi decentralized servers are needed then forget about something cooked up in academia and run with it because in the real world that's how things work.
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What we need right now is a offchain wallet built by trusted company or a collaboration between top exchanges and wallet services. It's possible but no none wants to do it.
You seem to be in danger of thinking for yourself ! Are you talking about real P2P wallets that uses some type of autonomous currency unit that I can send direct to your wallet so you can validate the coin is real using cryptography Will need a type of DNS service so that i can find your public address but the DNS Type servers would have no control what so ever about the data that is exchanged and Tor already does something a bit like this to resolve onion addresses on the network to hidden sites. Forget mining new coins like we do now because General Electric designed the plan with the help of GPU video card manufactures so that they could get rich
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Oh, that’s a good idea. Punish the guys that have spent untold millions on mining equipment to keep bitcoin alive.
I’ve got an idea. Go buy a mansion for 10 million dollars and let me live there for free. I’ll stay there for years and fuck your property up and right before I leave I’ll burn your house to the ground and make your investment worthless.
Miners have a limited time to recover their investment before they need to buy new equipment because it literally burns up. Cut their profit and they won’t buy any replacement equipment and bitcoin will suffer. That will teach them a lesson. Do any of you people actually know how bitcoin works?
L@@K Mining is not a democracy and has turned into a monopoly so that ten big players now control 90% of all transactions and if someone was silly enough to join a pool that pays next to naff all then that is there fault not mine. Fees at start of year were about $0.01 and today they are $40.00 + so you defend them all you like but I am not buying any of it. "Do any of you people actually know how bitcoin works" Yes lots of wasted energy reeving the cars engine without putting the car in gear and miners trying to win coins by buying bigger and bigger rigs. Since you know how BTC works (bet he does not program for a living) then you will understand when i say that the active thought put of BTC transactions is a mere 14Kbs but if you have trouble working it out then ask and I will help you
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Alright, here's a suggestion that can help without cramping peoples style too much. If you move some money over to Coinbase or something like that, and have it linked to their visa card, you can spend as much as you want any time you want, and the transactions take place off the blockchain. They pay out Visa in big mass payments, which consolidates the transactions. I know people don't like the whole "soft" wallet thing, but think of it a different way, more like your buying prepaid Bitcoin Visa cards that can be recharged.
if you like high fees and poor exchange rates then use Coinbase but expect "Technical errors" if the price of BTC is moving fast and to wait ten days using SEPA to move money from Coinbase and back to your own bank account. You also risk not being paid out on forks or having to wait to access the money because like you say " transactions take place off the blockchain " Did I tell you how they scammed me out of $10 ? Well never mind, many others are telling the same story
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Yes i will join your boycott but yesterday I had to pay an extortion fee of $25 to move coins from Coinbase to my Jaxx wallet to ensure that I get in on the Segwit2x fork on the 28th of December that seems to be hidden in the news we get feed to us.
It might be a scam, well hot air but it would be good if the fork was real and the price of X2B was going up when i looked so who knows.
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Well done OP, top marks for thinking outside the box and yes it sounds like a good plan to me.
Longer term the miners (Ten big names) need to be taught a lesson and we need a system that does not become a hostage to them ever again like we are today.
Clearly decentralized is not working as it was designed to work and not just because of miners but also Coinbase and Co.
Surly we just need software running on something similar to what we call miners today that will allow selling and buying without having to use Coinbase and then we can get back to having an exchange rate that remains the same across the globe.
The car we are running is a lemon, we need a new one.
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It's not about "falling" for it. You should always think and make wise decisions based on your own knowledge. And off course you will have to learn about technical aspects of different coins and blockchain.
Most charts are concerned with miners and so is 90% of the code that does a lot of PoW and is about reeving the cars engine without going anywhere and this is not something I want to learn too much about because it is obvious that it won't be here to stay 1. Only 7 transactions a second 2. Wastes GPP/CPU Power 3. Wastes electrical energy 4. Mega high transaction costs. VISA-Card works without Pow and is fifty times faster and can deal with 25,000 TPS so we just need a system a bit like this that we own and control instead of the bankers plus the rip off miners that have proven to be even worse than the bankers In other words the king has no clothes on.
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Well the $8000 dip didn't happen as speculated by all people that are spreading their FUD in the forum and the internet, particularly if you intent to buy then go and help yourself because it's gonna be a bullish ride again that may got the value up to $25,000 mark or even $30,000 mark depending on the pace of movement bitcoin might take.
No your are cheery picking and lots of people said 10-12k and were right but you are just as guilty in trying to pump it back up so cut the "FUD" and try dealing in facts and not pure speculation. Please share insider information if you have some or facts I can understand and check myself and i will be your best friend here.
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Now is a good time to buy. Tries to buy a couple hours before but it got rejected.
But people were saying just the same thing as prices were dipping slightly back from $19,000 the other day and then they got washed out as prices got close to $10,000 I like slot machines with five wheels, what says you
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Already bought a lot of alts, and already made some money) But it still can go down, the market is quite unpredictable. You only make money when you sell and get the money back in to your bank account so what coins have you been selling today out of interest or are you talking about the hypothetical profit and have you factored in huge transaction fees if trading BTC.
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GDAX has price at $15,401 and YoBIT $16,249
Yes i know GDAX tends to have bigger trade amounts but the gap between the two seems high so why is that and why can I not just buy on GDAX and then sell on YoBIT and be left over with a profit.
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Bitcoin and Cryptocurrencies are a clean usage of ressources like electricity as you mentioned, its the power that keep this currency clean and available for many years
That's a bit like saying that it get warmer at night 90KWH of electric just to write 250 bytes of data into a ledger was fine with the enigma machine used in WWII but not today
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Yes, yes and yes
We are wasting electrical and CPU power with the block-chain and most of the software is concerned with making miners rich and is not any used for people that buy these coin or those that want to do anything useful with then.
$55 in transaction fees on a system that can only do 7 transactions a second is a total joke and will ensure the leafs fall off the tulip much faster than they should
Total real data processing speed for BTC is 14Kbs if you care to check the maths
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satoshi, err sorry god to a few people around here needs a good slapping around the head because he designed a system that solved one problem and created many more that we are just starting to see.
What size did he think the ledger would become if just one billion people out of seven did one transaction a day ?
if all this data could fit into a single database (it cannot) then what size did he calculate the index would be given that paged indexes are quite slow and given the terabytes of data would need replicating for a decentralized system then how on earth did he ever think it would scale given that to calculate if a wallet owns the coins each previous input to the transaction would need to be located from disk file or the DB and processed which results in something called tree walking in DB terms.
We have 90KWH of electric needed to just process one transaction at about 250 bytes in size and it costs $1-2000 of electric alone just to mine one digital coin so does he like the sound of cars reviving the engine and going nowhere or something or does today's current speed of a mere seven transactions a second impress him because he works for general electric.
Sorry people but the king has no clothes on but if you like this block-chain (Linked list) so much then maybe you should try going in the nude too because a single AS400 could perform more work then all the BTC hardware put together and costing billions in chips and power consumption needed to handle what we have today (200gb data) and that's without having to clock the chips.
250 bytes * 7 = 1750 bytes or 14kbs which is slower than any modem I can remember and me and the internet go back a long time.
Academia has pulled the wool over your eyes, wake up
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Well you have done better than me if you managed to talk to any nodes on port 8333 using sockets and code you wrote yourself.
I just wanted to sent of a TCP byte stream to make a request to return other nodes on the network and didn't get anywhere after a day of trying
Are you just using RPC to talk to the local node and then letting that do all the work because I don't want to run a full node on the machine but from what I have seen it would be easier to give birth to an elephant than do the little job that i wanted to do.
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It will take a few months, maybe on July or August of this year.
The lightning network team is working very hard, the real problem is when are they going to add this feature to all the wallets, and this could take a while, specially because the miners and the exchanges are not going to let it happen easily.
The damage from the fees will already had been done in a few months and lots of people will had jumped ship by then and Bitcoin was about being decentralized and not having ten big names doing 90% of mining and transactions like we have today. We seem to have a cancer in the system that needs to be cut out but i guess this is all part of the learning process and then lets see what these brokers and miners do with all that hardware they have going spare. Internal war we can do without
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You should create DDoS prevention coin instead.
I read the little advert in the footer of your post and was using Tor for years, loved it and even ran exit nodes at times and even added code to a proxy server that would speed Tor up by sending some requests direct and some via Tor because as you know it's dead slow. That was until the day that a dedicated machine I was using to screen scrape a web-site via Tor picked up a WannaCry virus that then encrypted all my files just about and left ransom notes all over the place asking for payment via Bitcoin. I used a remote terminal to monitor the machine from time to time and was not browsing or automating a browser on the machine so can you guess where i think I picked the virus up from ? My firewall blocks the DDOS but this attack got past me and now you know as much as i know but it's very rare that i use Tor these days
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Well i wanted to build contracts for ETH and charge people gas for using the contract much like I could write using .Net web-services that could be deployed on ETH nodes that would fit the bill just fine but i was thinking more like a service that could make calls out to HTTP web servers to validate credit card details or something
I am not sure but i don't think this is possible and ETH contracts are more about just storing strings or numbers in a distributed system and charging "Gas" for doing so which makes it more like a global abacus in my book even if it used locks and ledgers that is designed to make more profit for the miners/nodes
Please someone step in if you believe that i am wrong and put me right
What i would like to see is a type of contract/program that can be deployed and then used as a type of VPN or proxy-server that uses credits or gas to ensure people using the service can only get free resources on the network if they are also providing services to the network which could be anything from hosting a database to allowing others to share their internet connection of even earned by helping other networks with mining coins.
if someone has not built this type of thing already then they soon will me thinks but it might well need a number of centralized coordinators much like Bit-Torrent to work because trying to store even a small amount of data for 7.5bn people on 50,000 distributed machines all replicating each others is something that has already been tried out and it does not scale, wastes resources but web-sites held on such a system like I have outlined here would be almost impossible to DDOS. Throw in a few fall-over servers that charge extra gas in an emergency and you start to get a stable system.
This is the reason BTC can only process 7 transactions a second and VISA-Card can do 25,000 a second but the penny is not dropping yet with the Bitcoin community
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The contract might run on ETH but the tokens could be for pig-ear-coins and using ETH to store arrays would cost lots of gas to run the contract.
I don't know much but it looks to me like lots of code is missing here or it is missing an include file
uint256 is some type of patch-up they use for now with strings and you have to cast them back in client code from what i remember.
Time stamps are in seconds from 1/1/1970 by the looks of it
for (uint i = 0; i < len; i++) {
'i' is not used i don't think and
address to = buyers;
should read i think more like
address to = buyers open-bracket i close bracket // BBCode removes brackets when i post
Not sure where the claimed[] array comes from
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Bitcoin always pumps and dumps, doesn't change that fact that it has real utility. Bitcoin is here to stay
My abacus is a real utility and BTC does not offer a service to host contracts (Little ledgers looking to earn gas, not real programs) like ETH so i am not sure what you mean unless your trying to assign value to the coins because it took a lot of CPU power and electricity to make one via mining I am thinking about writing a program that will count all the black pixies in hundreds of images that I will download from google because the number generated must have value if it took terra-flops of processing power to derive at the final result. Bitcoin will be going if they don't address the issue I have raised and not only get the transaction speed up but get the costs back down by a factor of about 2500 7 Transactions a second, well I could do that on a 48k ZX-Spectrum without breaking out to cutting machine-code
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