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What happens if you touch the wire?
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I logged into my Bitmex account from the plane wifi.
The flight path went over Iran.
Now I am banned.
Lol.
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So... is there now some sort of informal agreement that around $1K per person could be a reasonable baseline for basic admission to the $100K party?
Or is anyone proposing something specific (either extravagant or not) that would require to raise the price to cover the additional cost?
I have short arms and long pockets, but even I could live with $1k admission. |
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... numerous people shilling FOR Bitcoin like Last of the V8s and the Popescu cult all believe the segwit coins will become anyone can spend and anyone using a segwit address will lose everything? ...
I've never said this. 'anyonecanspend' means even a non-segwit node can spend, if they have the valid signature. Not to put too fine a point on it, anyone can spend any coins, including legacy addresses, if they have the valid signature When I am fleeing the country I rather have a trezor up my ass than a few gold/silver bars  In that case, I would recommend Ledger. I don't think I like this competition |
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No thanks Roach. I have my steak rare not well done with ketchup.
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Have you turned into some sort of BCH shill while I wasn't watching?
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Well, that's your opinion and you are entitled to it.
But that's not the current direction of development.
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And what is the practical use of LN? Cheap small transactions and fast confirmations! I've recently installed a LN-wallet, and I already made more transactions on LN than I made on Bitcoin in at least a year. It makes small payments possible again, such as sending 0.0001 BTC with 0.0000000202 BTC fee. I'm okay with paying a high fee for a big transaction, but I'd love to be able to use Bitcoin for small transactions too. LN allows much more users to actually use it, as 7 transactions per second can't scale up. Okay first of all, it does not "make small transactions possible", again or otherwise, that was always possible. That kind of inserted misdirection does not make it look better. So small fees. To one specific target. Cost of opening/closing such a channel? Well today, 20 sats. But if that's too expensive for you, zero cost if you use someone else's channel. And MAST will probably introduce further tricky mass batching methods. |
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Afaik transaction malleability breaks LN. So Segwit is necessary for LN as it fixes transaction malleability. Also BIP 114 for MAST requires Segwit.
I think that the malleability bug is separate from the segwit. I think segwit required the fix in order to work. So segwit in on itself is not required for LN. One advantage of segwit are reduced orphaned blocks, as the small header is sent separately and prior to the transaction data to other miners. The quicker transmission time reduces the chances two blocks are mined at the same time. Another is simply a more efficient use of space. More tx's per Kb. That's what I understand, anyway. My understanding is that tx malleability shifts the tx id, which means the locked coins cannot be validly spent. So segwit is a dependency for LN. Edit: this post explains it better than I could: http://cowpig.github.io/bitcoin/cryptocurrency/2017/06/24/Segwit-and-Lightning-Network/Ah, ok. So Segwit IS the bugfix. thought they were separate. Why would people want to used these shitcoin forks with bugs in them? Crazy. Yeah dont worry about those guys. They are still trying to convince people that 0 conf transactions are safe. |
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Maybe you wouldn't bitch about transaction fees if you started using segwit
I use Bitcoin to buy VPN for fairly obvious reasons. I am not about to use my credit card for that, and Liberty Dollars seems to have shut down.
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Hah I sent a 20 sat transaction today and it easily cleared in the first block.
To go from there to a $1k fee would take adoption a thousand times more than it currently is. If you want to believe that is the level of adoption we will achieve, before we have the chance to implement other scaling solutions, so be it.
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Assuming that article is true (I am not in a position to evaluate that at the moment):
1. If I am buying coffee I don't need inbound capacity
2. If I am buying coffee, I don't give a shit if its on a centralised solution. I can use my exchange's lightning routing. I have £40 on an Oyster card. I can afford £10 on a coffee card.
If you can't afford to risk £10 on a coffee card then you should stick to Folgers
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Afaik transaction malleability breaks LN. So Segwit is necessary for LN as it fixes transaction malleability. Also BIP 114 for MAST requires Segwit.
I think that the malleability bug is separate from the segwit. I think segwit required the fix in order to work. So segwit in on itself is not required for LN. One advantage of segwit are reduced orphaned blocks, as the small header is sent separately and prior to the transaction data to other miners. The quicker transmission time reduces the chances two blocks are mined at the same time. Another is simply a more efficient use of space. More tx's per Kb. That's what I understand, anyway. My understanding is that tx malleability shifts the tx id, which means the locked coins cannot be validly spent. So segwit is a dependency for LN. Edit: this post explains it better than I could: http://cowpig.github.io/bitcoin/cryptocurrency/2017/06/24/Segwit-and-Lightning-Network/ |
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And what is the practical use of LN? Why is LN "necessary"? And what even is MAST?
Personally I think the jury is still out on LN. I think there will be a wave of competing second layer solutions of which LN, RSK and Liquid are just the start. But decentralised instant Bitcoin transfers are pretty handy. Particularly because you don't want those coffee purchases clogging up the main chain. As for MAST - Bitcoin already uses merkle trees. A block is just a collection of transactions in a merkle tree format. MAST is a twist on the idea: Merklized Abstract Syntax Trees. Basically MAST allows for complex scripts to be appended to the Bitcoin blockchain with just a tiny proof recorded on the blockchain, so the vast majority of the script sits offchain, creating the ability to create Bitcoin smart contracts which are largely offchain. And because they are off-chain, they are private. |
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Now you are starting to make sense $10k/head is definitely doable and mic did the math pretty perfectly $300-400k can buy pretty much anything you'd ask in a party. (not beyonce sorry) *I am still OK with the second option, drinking Beer . Don't like to get dressed for parties. Those 10k tickets are only $845 if you buy it today and leave it in escrow  It will be a great party but hard to justify $10k for one person for one night. I don't give a shit about Cristal (I doubt anyone here could tell the difference from bog standard Moet) and strippers don't cost $5k. |
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Afaik transaction malleability breaks LN. So Segwit is necessary for LN as it fixes transaction malleability. Also BIP 114 for MAST requires Segwit.
Meanwhile roach confuses LN and Liquid.
Nope, u could impl LN also on BSV I don't think BSV has LN? |
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Afaik transaction malleability breaks LN. So Segwit is necessary for LN as it fixes transaction malleability. Also BIP 114 for MAST requires Segwit. Meanwhile roach confuses LN and Liquid. Edit: no need to take my word for it. This is what Andreas says:  |
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You took your sweet time because it took nearly a year to hit 0.066
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... and they seemed to have gotten their asses handed to them, the bitcoin naysayer nutjobs, no?
No. I would have thought going from 0.18 BTC or whatever it was to 0.05 or whatever it is counts as having your ass handed to you, but I'm not up to date on the new math. |
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Hiring an appropriately sized venue entirely (hotel / country house... fuck it - a castle, even) might make security a little less of an issue
Unfortunately, Risto's place burned down. Of course, he turned a little cray-cray before said event, so there's that... Still crazy. Refers to himself as the dragon, and speaks in the third person. https://www.facebook.com/people/Risto-Pietil%C3%A4/100017679760266The last dragon got a crown of gold. |
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