i can see the use for blockchain is maybe to send sensitive information like maybe Dr records and lawyers papers.. i think this can be done if you maybe could attach a file to the transaction..
i could be wrong and just talking and if i am correct me ...
sensitive data such as doctors records not on a public blockchain, would have to be private and only accessible by medical establishments also think about all the data bloat of 7 million people having the flu. or getting a tooth filled blockchains work by being distributed. so this alone is duplicating the data into every doctors office and hospital.. and also weak because every doctor and dentist has the ability to add/change records somehow i cant see it being feasible for medical records. however situations that can be useful, because blockchains are about storing data long term and permanently in multiple locations of access noting doctors specialities and access level, insurance log education results of students recording new laws and court cases social security/public funding passport births and deaths i can even envision one blockchain being the identifier for all of the above which could then lead onto other uses like a sidechain where the data can be used in many creative ways |
|
|
|
Well, hopefully he will change his attitude some before he introduces himself to the fellas on the prison yard....he might lose a little more than what he's willing to give if he talks to the wrong person the way he talked to the expert in that clip....I hear they have a totally different form of currency in the penitentiary that he may unwillingly become an expert in providing.
i can see him writing a few books to get some legit cash book one: im satoshi, found in the satire/fiction section book two: how i scammed governments and corporations, found in the crime/economics section book three: life inside prison, found in the crime/biography section book four: bubba calls me cindy, found in the adult section |
|
|
|
Nice question and topic, I also was in situation where people asked me how we know that bitcoin is safe and secure currency, and I didn't know what to tell them.
I like second comment, simple explanation and very easy to remember. Blockchain is technology for the future, people should be aware of this fact how bitcoin works and that its not easy to make a copy of bitcoin. It's good to know how to explain to someone new, I think this is perfect way, but I bet there will be more good comments here.
Same here. Since it more technical to explain how this blockchain works and its hard to explain in laymans term. Thank you for the explanation above, bt still im trying to simplify and grasp the important details. lol I cant understand also. haha it is something more technical and the words for me are new! Though thank you for explaining  . It just i cant understand the blockchain technology but now i do have some ideas or something in my mind what is all about the blockchain. if your looking for the differences of cryptocurrency and blockchain cryptocurrency is the umbrella term for any currency using cryptographic keypairs (public/private keys) to secure transactions or balances. blockchain is where data is locked together in blocks that contains some info of a previous block of data to make it ever increasingly harder to manipulate old data as new blocks are formed ontop. some blockchains dont need to be public. some blockchains dont need to be transacting in logs of fund movements, but instead total balances group agrees some blockchains dont need to contain data related to financial value but as long as there is a block of data, chained to other blocks of data. its a blockchain which is why banks and other corporations outside bitcoin are missing the whole concept. by only colourfully talking about 1 security feature which on its own is not strong. they will never get something as immutable as bitcoin bitcoin works great because it uses both cryptocurrency tech, blockchain tech and atleast 8 other security features aswell. |
|
|
|
Thanks, great article. I missed that one somehow. I wonder where this guy is creeping around presently....plotting his next big magic act, no doubt....probably going to claim a connection to D-Wave next....I wouldn't put it past him.
currently in london. trying to fake it till he makes it. the issues: he has to prove he is satoshi to legitimize a trust he set up (facepalm: by showing a friend PUBLIC KEYS of someone else and a PUBLICLY available signature)that trust was then used as collateral to get millions from australian government. big trouble there. separately he escalates things by doubling down and using this new funding to get more private funding he has to prove he is satoshi to legitimize the contract with private investors big trouble there. thirdly he is now trying to use fame to drum up "legitimate" cash(book sales and media sales of his "story") to hoard separately so that he has some funds to settle both court cases to avoid prison. when the first 2 lots of funds are frozen due to court processes in short an avalanche is going to hit him with a snowball effect of losing/having to repay the first 2 lots of funds, plus also having to cover legal fee's to avoid prison |
|
|
|
|
bitcoin has many layers of security.
if you want a summarised version in slightly techspeak
[1]transactions: not a simple balance, but log of who pays who, containing details of last transaction
[2]encryption(keypairs): validates transactions
[3]cryptographic hashes: lock valid transactions together in blocks, where hash matches the data within the block
[4]chaining blocks(include hash of previous, in current): ensures old data cant change without being noticed
[5]longest chain: by being the longest, it shows a history of more effort put into its creation
[6]difficulty: requires result of certain 0's, more 0's more harder to achieve
[7]brute-forcing hashes(mining)(requiring result contains certain 0's): ensures a specific result hash that is harder/time consuming to get compared to a simple hash
[8]payment: motivates miners to follow the rules or their payment wont be recognised by others
[9a]distributing chains: ensures they back each other up to know the best chain available meeting same rules, disregarding the one the majority dont have
[9b]distributing chains: ensures many copies so it cant be attacked at a single location to destroy the chain
speaking to laymen i try to use words they understand, (waffly, but then explaining technicals to average people is)
a transaction it is not a total balance of one identifier, but a single instance of just one movement of who is paying who using details of the previous validated instance that an identifier had received. traceable right back to when the funds were created[1]
the first is the identity and password that validate the transaction was created by the right person by creating a message that proves only the password holder could have made it without revealing the actual password.[2]
next this data is passed around thousands of people who do the validation of that transaction message. although the next stage doesnt need it. by having thousands of people checking it, the chances the next stage receives an invalid transaction is low, allowing for fast double checking without much "spamming" happening
a block of data is formed by joining thousands of valid transactions.[3] and a hash is created that is an expression of that combined data AND the hash of the previous block of data included also. forming a chain of data blocks linked by having something from the previous block attached[4]
at this point its worth noting that changing any data, changes the hash. so anyone changing data from the past instantly ruins the chain after it, because the other hashes after no longer match.. so it takes effort to then use the new hash and then remake blocks ontop with new hashes
also worth noting that the thousands of people who eventually get this data see the longest length of valid blocks in a chain as the most trustable because it means its done the most work compared to others.[5] but this is not enough
because a hash alone is simple to produce. if someone made a chain in 2 weeks, it only takes 2 weeks for a computer double the speed to remake the same amount of blocks again. and then make more ontop to overtake the first person.
to make it hard for someone new to just make a new chain simply by having a faster computer, that hash is used to create a second hash that has a requirement of containing a number of 0's in in the second hash. thus making it a time consuming process[6]
this is done by adding a random number to keep adjusting to get a hash with certain amount of 0's in it that validates as having said first hash and the winning random number in it that got the result.
the more 0's required the more time consuming and difficult it is to get a result. the number of 0's needed is estimated to be difficult enough that it takes 2 weeks to hash 2016 blocks with these solved results. the estimate of how many 0's are needed is done by seeing if the previous 2016 blocks took less than 2 weeks. and adding an extra 0 requirement if so to add more difficulty to the task.
after a number of years it now requires the equivalent of 1,500,000,000,000 computers to get a solved result in the average timescale required.
as for the costs of doing all this. the block creator gets rewarded with coins for being the first to hand out a solution that meets all the validation rules to all the other users.[7]
to ensure those making the blocks dont do anything foolish like make their own chain of random data. the rules of what is and isnt a valid block of data and transaction is also the rules of thousands of other people. so if the data the people get is not valid, they wont accept the data and ofcourse wont accept the block creators reward. making it foolish to do soo much work for no payment.[8]
lastly because the data is now on thousands of computers, that check each other[9a] and tell each other what the current longest chain is and all agree its all valid.[9b]
its no longer a simple thing of fooling one person. but fooling thousands of people.
EG
imagine you had 10 people, where 8 of them had 20 apples each from an honest apple grower, that took a year to grow them.. if person number 9 wanted to make some new fast growing apples but only got 5, its alot harder for person 9 to convince person number 10 that 5 dodgy apples is norm if that 10th person has 8 other people saying that 10 mature full grown apples is the norm. especially if comparing the quality(hashes) of the 5th apple of the 10 mature apples doesnt look anything like the 5th dodgy apple. the 10th person will reject the dodgy apples entirely because it doesnt match what the other 8 people have.
also by 8 people having the highest amount of apples, its alot harder to kill one off to persuade person number 10 that 5 apples is valid.
imagine 6000 people with 20 apples each. the dodgy fast growing apple farmer has no chance.
and thats it.. in laymens.
|
|
|
|
What will be the monthly revenue?
for 1 s9 a day = 0.285 BTC
monthly = 0.285 BTC x 30 = 8.55 btc
if you have 10 of s9 = 8.55 btc x 10 = 85.5 btc
What will be the yearly revenue?
for yearly = 85.5 btc x 12 = 1026 btc
1026 btc x $650 = $666,900 in one year
i am sorry if my calculating its wrong because i don't mining with any hardware, its too expensive for me, i only try to make sample for you and i hope you can do the calculation with yourself.
yep ur math is wrong. you need to do a 2 week estimate. and then decrease it by 5%-10% to get the following 2 week estimate and repeat that 24 more times.. then add up the 26 fortnight estimates |
|
|
|
Same here if bitcoin will be more popular and more people are using bitcoins here i will start my own business..
My idea is to build a video game and before you can play you should send a bitcoin and start a game.. i hope that it will happen in my future.
you dont need your hometown to be bitcoin popular to make a game that is used around the world. the only scenario i can see where a game would exist that relies on your hometown. would be a geolocation cache game, like a local treature hunt with small amounts of bitcoin stashed around the town with fun but hard clues to motivate people to go in search I wonder how many of you guys have already started bitcoin related business.
Wish to do that someday if bitcoin is legalized here, not yet as could not earn enough bitcoins yet to do something like that but i hope i can do that one day when bitcoin gets more popular in the place where i live so that i can run a business related bitcoin. instead of waiting for a neighbour to start a bitcoin business in your town. how about you become the first bitcoin business in your town. that way you get the benefits of free press and conversations in your town in regards to being something new they havnt seen before |
|
|
|
once you have researched what they all actually are.
-snip-
You yourself have no idea what they all actually are. ive read the code of each. but find it funny that you dont know they all do the same basic function once you wash away the fluffy buzzwords. you should have don yourself a favour last year and actually learned some C++ to actually actively engage in some real understanding of bitcoin. but have a happy year with you subliminal mind programming set to: BU=warewolves and Classic=vampire, kill kill kill.. core=king devote devote devote |
|
|
|
|
im laughing here.
i think its time lauda goes spend a few hours to ask his friends the difference between xthin and headers first
Edit.. also compact blocks..
ill give him a hint. they all dont send the whole block in one go. they send the headers first, in both cases.
i think its time lauda goes spend a few hours to ask his friends the difference core 1mb base 4mbweight and 2mb base 4mb weight.
ill give him a hint, they both have linear validation, they both have all the other fluffy features. but it actually increases the txdata in the baseblock to give REAL proper capacity.
once you have researched what they all actually are. then come back, without a core fanboy hat on. and instead with a coding logic hat on. basing your reply on actual real world usage, actual features involved and actual reality scenarios.
if i see you one more time basing your opinion not on code facts, but pure opinion of something just because of WHO. then you are no better than a racist who cannot see beyond the who
in short i want to see lauda approach the debate with technicals and not the simple analogy of BU=warewolves and Classic=vampire, kill kill kill
|
|
|
|
Dalley Joseph, FT reader: What is blockchain technology and how will it shape the financial industry in the next decade? Simon Taylor: If you ask 10 different people what blockchain is, you get 10 different answers. I view blockchain as a collection of ideas and technology that can help solve problems of provenance and state (where does something come from and do we agree it is true?). Blockchain is not perfect, it has a long way to come. But if you want contract clauses to execute automatically and to know when they execute and who agreed, blockchain is a set of technology ideas you should look at. Blockchain is not bitcoin, which is funny money from the internet. Most regulators would like bitcoin to crawl back into the hole it came from. Izabella Kaminska: There is no proof blockchain has reduced costs at scale so it is all hypothetical at this stage. In financial services, blockchain does nothing but circumvent the rules we have imposed on banks to keep them honest. There are real moral hazards as a result, akin to those that plagued Libor. Meanwhile, the taxonomy created around blockchain is out of control. The term has lost all meaning. It is a propaganda tool, most of all — a marketing gimmick to imply innovation. ST: There is utility behind the marketing hype. Any sector that wants digital certainty can benefit if it looks past the hype. IK: I think this is a great way for banks to appear innovative and distance themselves from their old reputations. They are trying to be hip and cool. ST: It is not just hype — Barclays did a live transaction this month. IK: These trials are a fiction. They are all operating in simulations or sandboxes. It is like clinical trials of pharmaceuticals. Until you test them on actual humans with something at stake, it is a meaningless trial. Call me when Barclays has transferred or committed $100bn of value to the blockchain at its own risk. ST: Those trials will grow. I bet by 2019 we will see real numbers. Doing big numbers takes time. Taking time does not mean it is insignificant. John 9973, FT commenter: The big problem with bitcoin as a currency is that there is no mechanism for lending it. ST: There are some, but they are not profitable because bitcoin has no concept of debt. This is the point if you are a bitcoin fan, or pointless if you are in the rest of the developed world. IK: That is not true. We see bitcoin loans popping up everywhere. In fact, the Bitfinex drama — where the exchange was hacked — showed the degree to which bitcoins were being fractionally reserved. BitcoinByte, FT commenter: Should a currency be decentralised or can a state issue it? ST: That depends on your world view. Both have benefits, both have drawbacks. My view is that bitcoin is a great option for the long tail of currencies that suffer from hyperinflation but that it will not displace major currencies any time soon. IK: I partially agree with Simon on that. ST: I am not one to answer what the right incentives for a design of a system should be, but I do know banks and the economy as a whole suffer from issues in finance, such as not being able to prove the date and time something happened. Solving that has merit. Yes, there is scope for it to be abused, but also for it to be used well. Much like the internet, technology is neither intrinsically good or bad, it just is. IK: I do not think it will help the inflationary currencies all that much. The key thing that will help them is the ability to create prosperity, which is constrained by other more egregious social problems. Many countries already do not use domestic currencies because they do not trust them. That does not solve their socio-economic ills. Much like the internet, technology is neither intrinsically good or bad, it just is
Simon Taylor ST: I like the idea of a censorship-resistant record such as bitcoin for something like land registry in emerging markets. If I can prove the legal title has not been fraudulently changed, that is a good step. It does not end fraud or crime, but it makes some types of it harder. IK: The problem with that view is that finance is subjective and social. And you cannot strip that out of the system by making it wishfully comply with some sort of idealised protocol. We can prove title already by registering it with a trusted notary or foreign accountant.  Carola Hoyos: What will happen to accountants working at the Big Four — Deloitte, PwC, EY and KPMG — and beyond if we move into a world of distributed ledger accounting, blockchain and bitcoin-like cryptocurrencies? ST: I think the Big Four’s tools will change, but practices will be very similar. Blockchain does nothing but circumvent the rules we have imposed on banks to keep them honest
Izabella Kaminska IK: My view is that bitcoin is basically a single entry system. It takes us to the world before Luca Pacioli, the 15th century mathematician who is widely seen as the father of accounting. You can track one side of the ledger perfectly, but it gives you no control over the other side. We do not know if there is a delay in the delivery. Also, the real delivery of goods takes time. If I pay on eBay using bitcoin for a pair of shoes and then do not receive them, eBay takes the risk. It has the ability to withhold funds until the shoes arrive. If I was to do the same trade on the open internet using bitcoin, it would be a caveat emptor nightmare for everyone, which would paralyse trade. ST: They will use a new tool to ensure a transaction happened and they can show their working in maths as well as with independence, or in some cases a stamp. In a world where we still frank letters for international trade, and that postage alone costs $40bn, better use of digital signatures and proof of tamper resistance is a good thing. IK: My point is that distributed ledger accounting is a nothing new under the sun situation, and that a lot of these “solutions” are very similar to those we have always come up with to regulate incentive and game theory problems. ST: From a game theory perspective, little is new … what is new is the tool we use to implement a given solution. |
|
|
|
My node has about 40-60 connections, is capped at 2 Mbps and spends around 300-400 GB of upload bandwidth per month.
Probably not something for me then (see my previous post) if it's around 300-400 GB of upload bandwidth per month. I do have an unlimited plan, but I'm pretty sure it has a 'fair use' clause in the contract. Might be a good idea to try it for a month and just see if they send me an email or limit my usage  then just don't have so many connections. lets use laudas numbers and assume 60 nodes=400gb a month(his top numbers) meaning just 6 nodes=40gb usage a month (about the same bandwidth upload as it would be to livestream yourself for 2 hours a day at SD quality or 1 hour a day at HD) even with new consensus rules in the future. you can adjust how many connections you have accordingly thats the beauty of being a bitcoin full node. you can set your connection limits too. so dont be scared |
|
|
|
Yeah I would love some more details on this one.
It's not un-common for the police to lie in court if they needed to search a residence/ car but couldn't get the proper warrant.
(I'm assuming something like that happened here)
nah, the OP is known to ramble about off topic stuff that hasnt happened. he has been called out many times to prove what he says. but just rambles on even more. its obvious he is involved with drugs but i dont think the police know or care much for him, because he is obviously still free to get high and ramble out hallucinations |
|
|
|
rather than all implementations coming to a joint agreement making all implementations all on the same level playing field coming to a joint consensus, which the community thought we reached before last christmas.
The problem is that these "other implementations" only have half-baked, horribly coded improvements. says the guy who hasnt even read a line of code. nor even knows a line of core code without spoonfeeding |
|
|
|
I just mean that Africa is not a country, goober. People are tightly wound these days.  ok i get your point about generalizing, well played, |
|
|
|
|
LOL
gotta love an egotist who says he doesnt want fame and then goes well out of his way to grab as much fame as possible without proving why he should be famous.
almost like a kardashian that says they want to be left alone, but then starts up a tv show following them around all day, yet no one can prove why they are special
all i can say is goodluck to craig in court where his only defence for his ponzi* is a magazine cover.
craig if your watching this. we know you dont own the coins and no fame will protect you. just accept it, your toast
*(falsely using bitcoins he doesnt own as collateral, to get fiat investment and then seek further investment in a pay peter to pay paul scheme)
|
|
|
|
The most interesting thing about the above-quoted list is that nobody wants to play the obvious zinger in response. Have a little fun. Please.
if your talking about why i switched from talking about hard drive to bandwidth, obviously hard drives are cheap so the other 'cost' is internet speed if your talking about my reasoning to talk about UPLOAD instead of download.. there is a technical reason for this if your talking about why i am mentioning uploading live video. as oppose to a tweet there is an obvious reason for this too the reason i used live streaming is because its a real life scenario people can understand of large data moving.. (upload 10minutes of SD(0.5mbIT/sec) quality video=~37mbyte of data) months ago lauda attempted to debunk WATCHING videos as that was only download bandwidth to which i replied months ago with UPLOAD stats of livestream recording at that time. and today was reminding him of the facts that the internet as a whole is not a problem for 2-4mb blocks upload and by default definitely no issues for download though the internet is proven to be fast for hundred of MILLIONS of people as shown by all the countries doing livestreaming to prove its not a dream. the community accept some places can get over 100mb/s, but as a safe level the majority feel 2-4 is acceptable.. even core believe 4mb is acceptable now. im not going to get into the debate of someone else advocating 20mb, as that is just poking laudas bear and not something the community as a whole could consider right now(though technically possible). i personally have only been advocating for 2mb this year knowing rationally that in the near future technology progresses to allow for more (even if the technology is already available now. its best to stay in the safe zone) in short 4mb is internet safe, 2mb is even safer so data speed debate of 2mb should be considered resolved as it was before late 2015 (even in cores 4mb eyes, 2mb is safe) which is why i laugh hard when lauda was saying 2mb was bad.. yet his friends are saying 4mb is acceptable, and lauda has now backtracked to say 4mb is acceptable "because its core". but 2mb is still bad. even if its a 2mb base 4mb weight linear validation rules.. lauda will still not be happy and will always try to debate some crap to keep core as the overlords, rather than all implementations coming to a joint agreement making all implementations all on the same level playing field coming to a joint consensus, which the community thought we reached before last christmas. and then tried to get core back inline in spring. and then again in summer.. |
|
|
|
The Snake Oil Salesmen are the developers working for the banks : example " Mike Hearn ".. These guys are going to "revolutionize" the
banking system with technology "stolen" from the inventor of Bitcoin, Satoshi Nakamoto. The banks are going to support this, no matter
the origin, because they can and because this technology are not protected by any intellectual property rights. The funny thing.. it's legal.
you do know where adam back and greg maxwells money is coming from.. and dont stop your research at PwC and not mention the partnerships involved. or you might aswell stop at R3 and not mention partnerships involved. spoiler: they are all paid by banks.. |
|
|
|
I can still run a node on Azure for under $150 / month. The most expensive variable cost is not the disk but the network bandwidth.
and this actually proves that datacentres will fail and home computing and home internet will win.. monthly costs are much cheaper to run from home. |
|
|
|
|
mobile broadband is not suppose to be used as 24/7 streaming
using microsoft azure/amazon aws is not really decentralizing things..
making neither of them bitcoins real use-case scenario
but considering a home internet package using a computer, (the intended vision of decentralization)
a $350 computer(with 2tb hard drive included) today can take care of bitcoins known proposals for well well over 5 years, knowing most people upgrade computers ever 5 years anyway
remembering that bitcoin had 1mb rule for years.. if you look at the prices of a computer with atleast 500gb 7 years ago.. the price remains the same
as for internet prices, even basic ADSL / cable packages are ample speeds.
its just the case of finding the ISP that isnt crippling you with usage limits thinking you are only going to look at twitter for an hour a day.
these days ISP's shouldnt be crippling usage limits, but if yours is.. find another ISP
|
|
|
|
a 2tb hard drive is only 800,00 kuna (im guessing your still in croatia) (£90 : $120 for those not wishing to convert kuna to western currencies)
No, I am not and have never been in Croatia. well i just thought that with all of your cries about internet speeds and stuff there was no way that you could live in america.. also things like talking croatian and being a mod of the croation category.. anyway although 20mb is diverting off the current proposals by a factor of 5-10x.. and entering the cosmic theory of doomsday dreams, lets ask you.. are you saying to this other guy that 0.3mb internet speeds is something the world is averaging. is this 0.3mb speed something you yourself are suffering with.. have you also complained to skype for offering video services to millions of happy people because in your eyes them millions of people must be unhappy. have you also complained to twitch, youtube, and other video upload services that do live streaming? in short is 0.3mb a real world problem where video uploading and livestream is a problem (uses more data then all current bitcoin proposals) hmm.. lets pick a country . ok africa.. http://www.africawebtv.com/ok korea.. http://www.afreecatv.com/ok russia.. http://www.vichatter.com/i could go on.. seems all countries around the world can livestream. the funny thing is that you are more distraught about including 3rd world countries than excluding them. this is because internet speeds are not excluding 3rd world countries, but the thing you have shown many times, is that your desire for higher fee's will price 3rd world countries out of using bitcoin. i then laugh that you pretend you want higher fee's to reduce spam. yet you want to remove features like sigops, which will allow spammy transactions to increase. (funny that) |
|
|
|
|
Show Posts
