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16441  Bitcoin / Bitcoin Discussion / Re: Bitpay does a 180, is now compromised 100% by Jihan, #boycottBitpay #UASF on: May 17, 2017, 06:31:58 PM
#UASF #SEGWIT

Satoshi:0.14.1   1599 (22.74%)
Satoshi:0.14.0   1589 (22.59%)
Satoshi:0.13.1   775 (11.02%)
Satoshi:0.13.2   586 (8.33%)

and you havnt even got anywhere close to 95% nodes either...
and you wonder why pools are hesitant..
they know that segwit is cludgy and creates a tier network that can cause issues. they wont risk anything unless there is a PROPER good node count to mitigate orphan risks.

plus you cant blame pools for being the electerate, when it was blockstream that handed only the pools the ballot paper(analogy not literally)

yet the DCG portfolio group of blockstreamists really wanna push the UASF granade. rather than sit down and ask what can the devs do to get more community consensus.

meanwhile anything not blockstream are not threatening PoW nukes, no mandatory delay deadlines, no threats.

i have a question for you..
do you even understand segwit.
EG
1. activation or users moving funds over to segwit keys, which do you think will actually cause any difference
2. what does segwit do to prevent native/legacy issues

i know the answers, but lets see your rhetoric
when answering 1-2 do not resort to checking reddit or twitter for pre-scripted replies.
i wonder how much you actually know about segwits gestures. hopes, expectations.. vs reality
16442  Bitcoin / Electrum / Re: Another stuck bitcoin post. A month on, any idea's on this beauty? on: May 17, 2017, 06:22:21 PM
you say your using an old electrum..

best thing to do back up your privkey/seeds/wallet in triplicate and in different forms incase one corrupts/doesnt backup correctly.

uninstall the old electrum and use a different version/brand.
then the new wallet import the privkey/seed and you will see your funds unspend.

and because its a new version/brand it wont be locally 'stuck' in your mempool because that disappeared when to uninstalled/use different version/brand
16443  Bitcoin / Bitcoin Discussion / Re: Bitpay does a 180, is now compromised 100% by Jihan, #boycottBitpay #UASF on: May 17, 2017, 06:13:14 PM
and all the blockstreamists seem yet again desiring to point the finger at jihan/china..
damn the reddit scripter should really go work for fox 'bomb them bomb them bomb them' news.

16%jihan , 51%other =67%+ saying no/abstaining

yep even sipa's stats say it 67% (at time of post) nay/abstain
http://bitcoin.sipa.be/ver9-2k.png

not everything is jihan
16444  Bitcoin / Bitcoin Discussion / Re: Will segwit reduce the number of transactions by any significant amount? on: May 17, 2017, 06:03:14 PM
Nice colourful diagram.

Now if i am A and i want to transfer 100 BTC to E.

B, C, D would require 200 BTC + fees deposit?

not my best work, just found sometimes people cant read and prefer to see pictures..

but anyway IF you had 100BTC and wanted to pay E 100btc.. then the DNS system would have to find a route of participants that would get from A to E and al of which have OVER 200 in the channel, per channel to to be able to hop the funds along

from all the talk at the moment most LN devs are saying that LN should only hold around $60 or 0.05btc per counterpart.
which i think is fair due to LN's utility only being for the small stuff and the risks that LN devs still has not patched yet
16445  Bitcoin / Bitcoin Discussion / Re: Will segwit reduce the number of transactions by any significant amount? on: May 17, 2017, 05:52:53 PM

But then - my little piggy - the TIME LOCK would kick in and simply refund us after X amount of time..

( .. I would have a copy of that txn BEFORE I send funds to the joint account.. Let's remember that malleability is fixed with SegWit..! Yippee! )

(.. and if he refused to sign the refund, then I wouldn't send money to that address anyway.. )


LOL...
thre are many many many attack vectors.

maybe worth you playing out more scenarios check for weaknesses not looking for semantics to brush issues under the carpet..

and malleability has never had a problem in the LN concepts anyway.. it was just a narrative played on repeat to make segwit seem more needed.

16446  Bitcoin / Bitcoin Discussion / Re: Will segwit reduce the number of transactions by any significant amount? on: May 17, 2017, 02:40:22 PM
Couldn't this be abused by spam? Join all payment channels, then close all. Do this over and over again, and the 1 MB blocks are full again.

If you pay a fee and make it onto the chain - it's not spam. And to do as you suggest would be VERY expensive..

its a multisig.. MULTIPLE SIGNATURE

EG
its not lke a traditional transaction where you are the only signee..

if you were to compare it to lets say a cheque... LN/multisig is like a joint account needing 2 signatures.
A and B have to agree together

The txn you each hold IS ALREADY SIGNED by the counter party.

If I start a channel with someone, and they fall into a volcano, and can't sign, I can still cash out..


it still needed their signature before they fell into a volcano!!!
16447  Bitcoin / Bitcoin Discussion / Re: Will segwit reduce the number of transactions by any significant amount? on: May 17, 2017, 01:58:34 PM
BUT - it is NOT permissioned..

You can cash at AT ANY TIME without the permission of the HUB. The whole point is that you both hold valid TXNs that you can publish at any time should you wish to.

This is called 'Closing the Channel'.

It's not a new concept - it's just like a payment channel.

Stop scaring people Franky..  Grin


its a multisig.. short for: MULTIPLE SIGNATURE

EG
its not lke a traditional transaction where you are the only signee..

if you were to compare it to lets say a cheque... LN/multisig is like a joint account needing 2 signatures.
A and B have to agree together

again its not like you have you own funds and your wife has her own funds completely separate (#1)..
you both are in the same 'account/channel' and both need to agree on who spends/deserves what.(#3)

in a hop concept your channel you need your counterparts permission to be part of a route. you then need others to agree aswell.

needing permission is not permissionless

although the permission can be automated, its still permissioned

EG you dont need a bank manager to physically agree or physically sign a bank account movement manually.. but by using a bank requires it set its system to auto authorise things in the system. they can take that away.

you can decide to remove yourself from a channel should a counter part try to blackmail or decide not to give permission, much like withdrawing from paypal.. but by your sending a tx, the counterparty can(if malicious) then invoke their CSV which then in laymmans terms is like a chargeback. taking your funds away from you before your funds have matured.

LN has a niche, dont get me wrong.. but it is not as utopian limitless, permisionless as people think, pretend.

i am not trying to scare anyone, i am just making sure people know more about it then the polished best case scenario sales pitches. so they can see the reality of it

EG

A provides a fresh public key 1A4c3p0...
B provides a fresh public key 1Br2D2...

the 2 public keys combine to create a multisig  3Bb8...

A funds 3Bb8 0.1btc    - txid a1cd
B funds 3Bb8 0.1btc    - txid b4cd

channel is now open

parties agree how the payout should begin (#6)
Quote from: counterpartA
txid: ef81
in                       out
3Bb8:a1cd(0.1)     1A4c3p0(0.1)
3Bb8:b4cd(0.1)     1Br2D2  (0.1)
signed A
signed B
Quote from: counterpartB
txid: 3f82
in                       out
3Bb8:a1cd(0.1)     1A4c3p0(0.1)
3Bb8:b4cd(0.1)     1Br2D2  (0.1)
signed A
signed B

when they agree to a new balance they both sign and have something like
Quote from: counterpartA
txid: 397a
in                       out
3Bb8:a1cd(0.1)     1A4c3p0(0.087)CSV revoke 3f82
3Bb8:b4cd(0.1)     1Br2D2  (0.113)
signed A
signed B
Quote from: counterpartB
txid: 397b
in                       out
3Bb8:a1cd(0.1)     1A4c3p0(0.087)
3Bb8:b4cd(0.1)     1Br2D2  (0.113)CSV revoke 3f81
signed A
signed B

if later B wanted to pay A 0.05
Quote from: counterpartA
txid:ae48
in                       out
3Bb8:a1cd(0.1)     1A4c3p0(0.137)CSV revoke 397b
3Bb8:b4cd(0.1)     1Br2D2  (0.063)
signed A
signed B
Quote from: counterpartB
txid:ae49
in                       out
3Bb8:a1cd(0.1)     1A4c3p0(0.137)
3Bb8:b4cd(0.1)     1Br2D2  (0.063)CSV revoke 397a
signed A
signed B

if later A wanted to pay B 0.01
Quote from: counterpartA
txid: 2515
in                       out
3Bb8:a1cd(0.1)     1A4c3p0(0.127)CSV revoke ae49
3Bb8:b4cd(0.1)     1Br2D2  (0.073)
signed A
signed B
Quote from: counterpartB
txid: 2516
in                       out
3Bb8:a1cd(0.1)     1A4c3p0(0.127)
3Bb8:b4cd(0.1)     1Br2D2  (0.073)CSV revoke ae48
signed A
signed B

now if A regrets paying B 0.01(txid:2515).. A could send (txid:ae48) but what you dont realise is that A's (txid:ae48) has a CSV condition
meaning B could send (txid:2515), which then revokes A's output

note this example is very simplified for laymens
16448  Bitcoin / Bitcoin Discussion / Re: Will segwit reduce the number of transactions by any significant amount? on: May 17, 2017, 12:08:18 PM
to explain LN channels(hop)..

firstly ill display this image and then explain it


first some people think anyone can set up a channel with a click and remain permissionless(#1).. wrong!
 you have to set it up WITH ANOTHER PARTY (#2) !! permissioned as you need their signature to sign off on payments !!

next you cant just instantly pay anyone. for instance A cant just pay E,
you  need to have to find a route to the intended 'anyone' by finding a path of channels that can link you to the intended party.

this involves some parties having more than one channel open (#3) as you can see B has 2, C has 2, D has 2..

next is the funding..
A doesnt just fund E.. A has to pass funds to B(plus a fee) in the A_B channel... B then needs to use a separate channel B_C with separate funding to fund C, and so on. (#4)
this means with a cap per channel of lets say 0.1btc
B needs to deposit 0.1 into 2 channels
C needs to deposit 0.1 into 2 channels and so on

now, with many channels available and channels having funds, this then allows a path (route)(#5) to be established from A to E

now lets say A wants to pay E
we will start with the blank slate(#6)
imagine A wants to pay E 0.01btc... and each 'hop' cost 0.001 fee to thank each person of the route for participating.
(dont knit pick the fee or take it literally. i chose 0.001 randomly for demo purposes only, i simply couldnt be arsed to do lengthy decimals to show a very small fee)

as you can see in(#7) A has worked out it would cost him 0.003 in fee's to get to E and so A passed 0.013 to B
B in A_B is where B's 0.001 fee remains.

in (#8) B using the separate stash knows its going to cost him 0.002 in fee's to get to E and so B passed 0.012 to C
C in B_C is where C's 0.001 fee remains.

in (#9) C using the separate stash knows its going to cost him 0.001 in fee's to get to E and so C passed 0.011 to D
D in B_C is where C's 0.001 fee remains.

in (#10) D using the separate stash passes 0.011 to E
D in D_D is where D's 0.001 fee remains.


which when if they all closed channels and totalled up their holdings
(#11) A=0.087 B=0.101 C=0.101 D=0.101  E=0.110
which means the guys in the middle are 0.001(fee) in profit from acting as routes(hops) and E has the 0.01 which indirectly came from A
because A is down by 0.01... (and down by 0.003 for the fee's)


all that the mainnet chain see's to set up the channels is the 8 transactions (into a channel) to set up the 4 channels (2 tx per channel)
as shown by the arrows in (#5)
A(0.1)->A_B               B(0.1)->A_B               B(0.1)->B_C                C(0.1)->B_C  
C(0.1)->C_D               D(0.1)->C_D              D(0.1)->D_E                E(0.1)->D_E

and 4 final transactions when closing the channels
A_B(0.2)->A(0.087)B(0.103)                  B_C(0.2)->B(0.088)C(0.102)    
C_D(0.2)->C(0.089)B(0.101)                  D_E(0.2)->B(0.09)C(0.110)  

which when if they all closed channels and totalled up their holdings
(#11) A=0.087 B=0.101 C=0.101 D=0.101  E=0.110

which means the guys in the middle are 0.001(fee) in profit from acting as routes(hops) and E has the 0.01 which indirectly came from A
because A is down by 0.01... (and down by 0.003 for the fee's)

the steps #7 to #10 are funds moved all off chain.. never seen by the mainnet chain
and funds can move back and forth as many times as possible off chain as long as:
the channels have enough funds to work as a route for the particular payment
and
there are enough channels to link/create a route
16449  Bitcoin / Bitcoin Discussion / Re: Stupid shitcoiners using Coinmarketcap BTC dominance stat to pump their shitcoin on: May 16, 2017, 04:40:45 PM
What really needs to happen would be the community coming up with a solution that we can agree on and then using that to end the scaling wars and cut back the transaction fee/time. Until then Bitcoin will continue to drop.

the only problem is the "community coming together for a solution" dispeared in 2015.

now its just the closed door invite only conventions/round table events organised by the same portfolio group
http://dcg.co/portfolio/
16450  Bitcoin / Bitcoin Discussion / Re: An Open Letter to Bitcoin Miners – Jonald Fyookball on: May 16, 2017, 04:07:44 PM
Well, if that is a critical issue i advice you to make contact with Core/LightCoin dev's about youre concern. They're testing it atm, this will be the moment for it to how to fix it. We'll be gratefull.

i did..
EG last april i spotted the anyonecanspend issue..
their response.
ridicule me for months..
facepalm themselves after that when they realised.
then do a cheap cludgy work around create/plan the tier network to prevent native nodes from getting relayed unconfirmed segwit tx's after activation..

problem then, nothing stopped a malicious person MANUALLY copying a unconfirmed segwit TX from a segwit node mempool and then messing with it.. in a native node

to which the workaround was to not allow keypair utility until after activation and so that they can then drop accepting native blocks from being mined to prevent malicious uses of my previous sentence as part of the tier activation.

but there are still issues with that too.
it just keep going on and on and on.. core have opened up more attack vectors with their cludgy soft segwit, than there were this time in 2015 pre segwit announcement

the ultimate solution is a 1merkle peer network (not a 2merkblock block in a block on a tier network of stripped/unstripped blocks) which has a lot of other features the community want to.. and done in a manner of a full node and pool consensus upgrade event.
where by everyone gets what they want.. a real main blocksize increase and other features along with the opt in stuff like segwit/ln..

rather than the cludge that leads people into using LN by force due to soo many issues onchain
16451  Bitcoin / Bitcoin Discussion / Re: An Open Letter to Bitcoin Miners – Jonald Fyookball on: May 16, 2017, 03:53:05 PM
Many believe if normal users run full nodes it helps the network but why would normal users want to do that?

Only big users, businesses and those paranoid should and are running full nodes aside from miners of course.
its nt about getting all 5million+ users to be full nodes.. but certainly not about trying to pretend that nodes are meaningless to hope people turn off nodes to then give pools majority node count to make it easy for pools..

but yes merchants and those that do care about security and protection of the network should run a full node.
there is always has been and should always be a symbiotic relationship. to ensure no one has overall control.

Even if normal users start running them they can't change or effect any thing because a miner can out number them if the miner wants his data to be validated it will only makes it harder for them as the numbers of full nodes by individuals increases even then not every normal user knows how to or wants to black list or ban a specific set of nodes/IPs if they start to misbehave.

there are MANY mechanisms in a node that protect the network.. bitcoin is nothing like the banking system.. nodes are not just duplicate copies of a database.
the consensus/orphan mechanism, to name just one feature... does not need users to do anything manually apart from run the node. the node knows the rules and will throw out any block that doesnt meet the rules. and then the whole network consensus syncing/relay mechanism sorts out the weak from the strong, leaving behind the weak..

What would be the result if a miner broadcasts a block of 2MB right now and all other miners accept it but only %50 of nodes accept it as well and just get rejected by other %50 of non-mining nodes?
well to take one example from history (BU's 1.000250 block mistake)
non mining nodes response
Quote
2017-01-29 06:59:12 Requesting block 000000000000000000cf208f521de0424677f7a87f2f278a1042f38d159565f5
2017-01-29 06:59:15 ERROR: AcceptBlock: bad-blk-length, size limits failed (code 16)
drama over in 3 seconds.
.. then if the 50% of pools accepted it when the pool makes a new block where by the previous hash was
^000000000000000000cf208f521de0424677f7a87f2f278a1042f38d159565f5

the non mining nodes would reject that next block too..
the non mining nodes would only accept a block where all the previous hashes of blocks followed the rules.

in short over 50% of pools end up making/wasting time making blocks ontop of a block that merchants and users wont see/accept. and those pools wont get to spend their rewards with those merchants/users in 16 hours time..

pools know this!! and for years have been following this knowledge..
which is why when they see its rejected they dont build ontop. instead they go back and find a blockheight that was accepted by the majority and only build ontop of that block. to ensure they are building on the most acceptable chain that will allow them to spend their rewards

this is why NODE+pool consensus events should happen.. and where core went wrong thinking only pools should have the vote
and where core fanboys went wrong thinking the non-core proposals would actually act just on mining flags. when the reality is that things will only happen if there was a combined node and pool consensus

What is plan B of Core devs?

cores plan B is if the community say no, dont back track and listen to the community and make something different.. but continue on and press even harder my making it mandatory, with another year delay
UASF quote: mandatory by late 2018

Can all the Core miners start rejecting every block generated with BU clients?
How much does it cost to run a full node if we were to buy everything in bulk, lets say if you were to deploy 5000 full nodes.
cost is about under $100 for a raspberry pi and a microsd..
what you are talking about is a sybil attack.. also traditionally called a invasion / corporate take over..
16452  Bitcoin / Bitcoin Discussion / Re: An Open Letter to Bitcoin Miners – Jonald Fyookball on: May 16, 2017, 02:31:00 PM
After all these years Segwit is still the best possible update Bitcoin can have.

I can understand if someone doesn't like it i mean not all people voted for Trump but in the end they need to respect market decision and move on.

BU had there shot but blew it big time. It doesn't matter how 'great' there updates are, BU code is bad. The remaining BU supporters seems to having a hard time to understand how important a well working code is.
( I dont believe Jonald got a degree in Computer Science  Undecided )



many people never read trumps books, manifesto's or plans.
many people never read segwits code, documentation or plans.

those that have end up seeing why people facepalm when they see supporters of both.
do you know the difference between what segwit activation does vs what the keypairs do
do you know the difference between what segwit activation does not do vs what the keypairs do not do

do you know what gestures/features/promises will actually get to be seen.

or are you just settling for the idea that because blockstream worked on it since 2014, that its too late to just ask them to try something different/better. due to the mindset of 'they put so much work into it, we should just accept it'

P.S even in 2017 the actual keypairs that segwit will utilise are still not etched in stone. so its not really actually been fully tested since 2014.. its been worked on since 2014.. which is totally different. they are still tinkering with it even now
16453  Bitcoin / Bitcoin Discussion / Re: Stupid shitcoiners using Coinmarketcap BTC dominance stat to pump their shitcoin on: May 16, 2017, 01:55:33 PM
market caps are a MEANINGLESS number. its a bubble number backed by nothing.

in short make an alt with 5trillion coins premined..
put ONE.. yes ONE coin on an exchange
sell it to yourself for $1.. yes spend just $1..
and BAM market cap of that coin is $5trillion

there is no $5trillion backing the premined coins i used in my example. just like there are not $28+billion in bank accounts backing bitcoins market cap. nor any other altcoin.

the sooner people realise this and stop giving a crap about market cap, the better.


here are things people SHOULD care about:
how many merchants accept coin X
how many employee's are working to do something within a certain coin, (devs, consultants/trainers, convention organisers, device(HWwallet/asic,etc) manufacturing employees, payment processors/exchanges etc, etc)
how many users a coin has

though some of these details are not easy to find. they are a hell of a lot more important stat than market cap
16454  Bitcoin / Bitcoin Discussion / Re: An Open Letter to Bitcoin Miners – Jonald Fyookball on: May 16, 2017, 01:05:16 PM
@spartacusrex
What is a "typical personal computer"? Why do you see it as "every personal computer" ?

Bitcoin doesn't need that a node must be run on every personal computer, it just need to run on as many personal computers that it will cost too much to attack all of them.
Then all the other can be SPV clients.

This will enable both decentralisation and access to the onchain tx to the larger number of population.

the main 'minimum spec' people are trying to keep bitcoin to is the Raspberry Pi spec..

but since 2009. things have moved on.
libsecp256k1 is 5x better than 2009
internet speed averages are no longer basic ADSL/3G.. we are now in the fibre/4-5G era.
hard drives are cheaper than 2009
(list of effiencies is larger than just above)

meaning 2009's 1mb safe.. is now 8mb safe. even core know and accept this. but still want 4mb at most as extra 'safety'
so going up to a 4mb dynamic* single merkle block**, with the extra features people want. and yes the opt-in voluntary segwit/rbf feature and voluntary LN can all go together happily

but segwits 'soft' approach is cludgy, has no guarantee's and doesnt solve old issues.. and is just kicking the can down the road of hope..

*dynamic=network grows when network can accept it (network consensus growth not dev spoonfed growth)
** full network upgrade where everyone is on the same peer layer.. not the 2merkle tier network of full/stripped/filtered/prunned cludgy blocks for different layers of nodes
16455  Bitcoin / Bitcoin Discussion / Re: An Open Letter to Bitcoin Miners – Jonald Fyookball on: May 16, 2017, 12:57:57 PM
-ck's response.. close eyes, put fingers in ears and just scream go with segwit.
(facepalm)

1. segwit is not as 'compatible' as promised
2. segwits activation event itself, is not about solving quadratics/malleability scaling or anything else. its about setting up the tier network
3. moving funds to segwit keys after activation has a POTENTIAL to affect quadratics/malleability scaling or anything else.
4. but malicious people will stick with native keypairs and continue to do quadratics/spamming to prevent good utility
5. segwit does not stop/disarm/solve native keypairs. thus 'fix' issues.
6. segwit just disarms innocent people who volunteer to move funds across while letting the network continue doing the same as usual.
7. the 'expected' potential scaling boost of segwit is the same potential scaling of 7tx's on chain of 2009-2017. which still has no guarantee of actual achievability

Segwit is perfectly fine.

You guys are the ones who block bitcoin's development. Bigger blocks also don't solve anything. If 1mb blocks get spammed and filled, 8mb blocks will also share the same fate in the future. What then, 16mb blocks? I don't see BU as a development at all.

Jihan either will accept Segwit or he will lose his job as a business owner, one way or another he will come around and you paid shills... You are pathetic.

lol
1. you using the buzzwords/script words "jihan" "paid shill" is foolish.
2. segwit does nothing to stop native tx's filling the baseblock which prevents segwit tx's sitting in the baseblock to put their feet up in the weight area.

a real proposal is to not allow ANYONE have 20% of the block area for a single tx.
a real proposal is to bring back a NEW and DIFFERENT priority formulae that reward infrequent/lean tx users with low fees. and punish frequent bloated users with high fee's. thus not forcing everyone into LN. but making it super expensive for the spammers (spending every block with loaded tx's). into wasting their funds faster or using LN if their frequent/loaded tx's are genuine.

EG reduce the 'large tx' to below 10% of block
EG reduce the sigops to below 20% of block
EG new priority formulae

here is one example - not perfect. but think about it
imagine that we decided its acceptable that people should have a way to get priority if they have a lean tx and signal that they only want to spend funds once a day. (reasonable expectation)
where if they want to spend more often costs rise, if they want bloated tx, costs rise..

which then allows those that just pay their rent once a month or buys groceries every couple days to be ok using onchain bitcoin.. and where the costs of trying to spam the network (every block) becomes expensive where by they would be better off using LN. (for things like faucet raiding/day trading every 1-10 minutes)

so lets think about a priority fee thats not about rich vs poor(like the old one was) but about reducing respend spam and bloat.

lets imagine we actually use the tx age combined with CLTV to signal the network that a user is willing to add some maturity time if their tx age is under a day, to signal they want it confirmed but allowing themselves to be locked out of spending for an average of 24 hours.(thats what CLTV does)

and where the bloat of the tx vs the blocksize has some impact too... rather than the old formulae with was more about the value of the tx


as you can see its not about tx value. its about bloat and age.
this way
those not wanting to spend more than once a day and dont bloat the blocks get preferential treatment onchain ($0.01).
if you are willing to wait a day but your taking up 1% of the blockspace. you pay more ($0.44)
if you want to be a spammer spending every block. you pay the price($1.44)
and if you want to be a total ass-hat and be both bloated and respending EVERY BLOCK you pay the ultimate price($63.72)

note this is not perfect. but think about it
16456  Bitcoin / Bitcoin Discussion / Re: An Open Letter to Bitcoin Miners – Jonald Fyookball on: May 16, 2017, 12:41:35 PM
-ck's response.. close eyes, put fingers in ears and just scream go with segwit.
(facepalm)
Jonald's response:
Quote
I am not a contributor to any Bitcoin projects, but I am quite familiar with the scaling topic because I’ve been following it for some time now, and I am knowledgeable enough to clearly understand the technical details.

Quote
As others have explained, there is no security provided to the network by non-mining ‘full nodes’.

Are you telling me you support the latter? Roll Eyes

no, i think jonald is FLAWED to the Nth degree in his understanding of what nodes do. i have face palmed him many times. and corrected him also.

but someone personal beliefs of why they should or should not run a full node is not as big a deal as the empty promises/guarantee's/expectations of segwit which is more of a network wide issue

people should learn about what would truly benefit/hinder the bitcoin ecosystem and what would actually occur due to certain changes, proposals

here is a copy of a PM i sent to jonald as soon as i read this topic
Quote from: jonald
The most ludicrous is the “all users should be running full nodes” idea.

As others have explained, there is no security provided to the network by non-mining ‘full nodes’. Only mining nodes secure and extend Bitcon’s distributed ledger.

The white paper explains why most users do not need to run full nodes:

    It is possible to verify payments without running a full network node. A user only needs to keep a copy of the block headers of the longest proof-of-work chain, which he can get by querying network nodes until he’s convinced he has the longest chain, and obtain the Merkle branch linking the transaction to the block it’s timestamped in. He can’t check the transaction for himself, but by linking it to a place in the chain, he can see that a network node has accepted it, and blocks added after it further confirm the network has accepted it… …Businesses that receive frequent payments will probably still want to run their own nodes for more independent security and quicker verification.

The idea that a lot of non-mining full nodes will make the network more decentralized (because they can make sure the miners are behaving) is erroneous, because an SPV client can already query the network’s nodes. Generally, there would only be a problem if a majority mining of nodes were colluding dishonestly, in which case Bitcoin would be already broken.

(facepalm)

your taking quotes of (not verbatim) 'some people just want to balance check their own funds which is ludicrous to get those people to run a full node..'
but erroneously trying to twist it into sounding like NO ONE should run a full node and just let pools have full control.
(facepalm)

EG
"As others have explained, there is no security provided to the network by non-mining ‘full nodes’. Only mining nodes secure and extend Bitcon’s distributed ledger."
(facepalm)

your literally saying that relying on pools to be the sole holders of the full data is good
your literally saying that relying on pools to be the sole verifiers of the full data is good
(like a fiat bank) just so that users can balance check...
but that would be making bitcoin insecure and centralised.
(facepalm)

1. pools collate the data, yes. but it needs independent verifiers to accept it in that format as valid. merchants and people that care about security do this and should continue to do this. they do and should continue to reject/orphan blocks that cause issues and make pools follow the rules or find themselves unable to spend rewards.

2. yes some people that dont care and only want to check their balance can just run SPV/lite clients. but that does not mean we should only let pools be the only verifiers of the data.

lets reword your words. maybe that would help you understand:

non-mining full nodes make the network more decentralized (because they can make sure the miners are behaving) because there would be a problem if a majority of pools were colluding dishonestly, in which case Bitcoin would be broken.
..
in short to explain what non mining nodes do:
if a pool offers a new block that does not contain the last accepted block hash (previous hash). and/or does not meet the standards of the node rules(funky tx's, creating funds from nowhere, fraud, etc), then that pool get their block orphaned. once pools realise their blocks are getting orphaned, thus cant spend their rewards with merchants/people. the pools would fall inline and only make acceptable blocks.

removing that power from merchants/people is BAD.
nodes play an important role. and should continue.

you should have stuck with the argument of not everyone needs to be their own bank,.. but not push it into being a plea to centralise pools into being more authoritarian by suggesting merchants and those that do care, should just let pools do all the work.

.. but it seems lately you have jumped over to the other side wanting centralisation by only accepting the one dimensional twisted scripts as gospel.
16457  Bitcoin / Bitcoin Discussion / Re: An Open Letter to Bitcoin Miners – Jonald Fyookball on: May 16, 2017, 11:31:34 AM
-ck's response.. close eyes, put fingers in ears and just scream go with segwit.
(facepalm)

1. segwit is not as 'compatible' as promised
2. segwits activation event itself, is not about solving quadratics/malleability scaling or anything else. its about setting up the tier network
3. moving funds to segwit keys after activation has a POTENTIAL to affect quadratics/malleability scaling or anything else.
4. but malicious people will stick with native keypairs and continue to do quadratics/spamming to prevent good utility
5. segwit does not stop/disarm/solve native keypairs. thus not 'fix' issues.
6. segwit just disarms innocent people who volunteer to move funds across while letting the network continue doing the same as usual.
7. the 'expected' potential scaling boost of segwit is the same potential scaling of 7tx's on chain of 2009-2017. which still has no guarantee of actual achievability
16458  Bitcoin / Bitcoin Discussion / Re: BREAKING NEWS: Bitcoin Dominance < 50% on: May 16, 2017, 10:58:23 AM
these guys understand it
Bitcoin's share of the total marketcap (not its dominance) is decreasing because of a very simple math.

market capitalization = supply * price

increase the supply you increase the marketcap.
increase the supply to a ridiculous number like 100 billion you get a ridiculously big marketcap.
now have hundreds of altcoins with ridiculous numbers you get a huge total marketcap in which bitcoin has a tiny share.

Good thing that no one cares.  There are hundreds of completely worthless alts with market caps of >$1,000,000 even if their trading volume is just a few thousand.  All it takes is a meaninglessly large supply.

in short make an alt with 5trillion coins premined.. put ONE.. yes ONE coin on an exchange and sell it to yourself for $1.. yes spend just $1.. and BAM market cap of that coin is $5trillion

market caps are a MEANINGLESS number. its a bubble number backed by nothing.
there is not $5trilling backing the premined coins i used in my example. just like there are not $28+billion in bank accounts backing bitcoins market cap. nor any other altcoin.

the sooner people realise this and stop giving a crap about market cap, the better.


here are things people SHOULD care about:
how many merchants accept coin X
how many employee's are working to do something within a certain coin, (devs, consultants/trainers, convention organisers, device(HWwallet/asic,etc) manufacturing employees, payment processors/exchanges etc, etc)
how many users a coin has

though some of these details are not easy to find. they are a hell of a lot more important stat than market cap
16459  Bitcoin / Bitcoin Technical Support / Re: Got a ? on: May 15, 2017, 04:49:09 PM
the good(for chance, but bad for your pocket) fee is 240sats/byte - https://bitcoinfees.21.co/

so...sending the 0.00184008 out

edit: oops . didnt check if compressed/uncompressed (as danny highlighted).. maths now sorted

(in:1*180)+(out:1*34)=214(+-10) so go with 224 to be easy
   fee: 224*240=0.00053760               
   so send:   0.00130248   
            
edit: (to explain why i done below) incase you want to pay out to 2 destinations / get back some change if not wanting to send whole amount

(in:1*180)+(out:2*34)=248(+-10) so go with 258 to be easy
   fee: 258*240=0.00061920            
   so send:   0.00122088   split across the two outputs however you want      
16460  Bitcoin / Bitcoin Discussion / Re: Please run a full node on: May 15, 2017, 03:33:05 PM
1. no one wants to or can just blindly accept the opinion of data from others, its always best to run tests on data yourself
You seemed to have missed the part (on two occasions actually), where I said I had written an actual simulation and that once I had seen enough of the data to realize you were out to lunch, I shut it down.

i have said for years dont get spoonfed data
dont just take things on face value
dont just read something on a forum/reddit and take it for granted.

do your own tests/research/scenarios/validation.
this is why DAYS AGO i said ill give dino a few months to have his mind blowing experience of seeing the bigger picture of the real depths of bitcoin rather than the 1d overview he has displayed over the last few months.

yet apparently many want me to spoonfeed them everything. and then debunk it before even examining it.. (making it pointless to spoonfeed)

so if you want to learn run your own tests for your own peace of mind.

anyway this topic has meandered soo far off track.

but i still await -ck explain his biased 'only 70ms' timing of all the combined propagation, validation, parts (outside of hashing).. as i want to see how if its just 70ms he and his fellow friends can justify their "2mb is bad" rhetoric

PS. to pre-empt short sightedness
 my "minutes" is not to be taken literally as in for all blocks... but has been the case in the past where certain 'tasks' used to be done certain ways without efficiencies. and more seconds/milliseconds can be shaved off too even now
 but on average the block (non-hashing task) is more than just 70ms..

but i would like to know where -ck can defend a bigger blocks are bad stance if non-hashing tasks are 'just 70ms)

im done with this topic.
if anyone else is unsure about the meandered 'hashtime' stuff.. just run your own scenarios
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