That's England, not Turkey.

If you can't see the difference between a change in position and the kind of contradiction presented, you're wanting to believe too hard.

Cue "It's been an hour and I still don't have a confirmation" threads.

Cripes, if the halvening causes the hashrate to drop, we might see 0 block hours often. I don't think I handle that gracefully.

We'll be serving hors-d'ouvres and refreshments first. The bar will be open at intermission.

That's exactly the point

Here's another nice one. It's how many times bigger than the transaction volume the block size limit is. I had to adjust the axis to make the recent detail visible as on the day that Satoshi implemented it, it was 710.



Does quite well as a logarithmic plot.




If anyone wants this data as a CSV or something, PM me cause it takes a while to extract from the blockchain.

Threw it up quickly here for anyone who doesn't want to wait

http://pastebin.com/NUbMdQ7t

Of course you could do it for anything else. Including all transaction being diverted to a single address. The question is about the will and incentives to do it and always will be.

Just to be clear, my tongue was firmly in cheek.

What the concentration of mining in China illustrates is the failures of a command economy. China provides electricity at a reduced cost (by drawing value from other parts of their economy) and the Chinese miners are taking advantage by sucking the value into their own coffers. It's all quite rational

The interesting thing is what happens next.

Logistical nightmare. The lack of an opposable thumb really limits your options.

No-no. That's for Nigerian scammers. Redlists for the Ruskies and yellowlists for the Asians.

I'm pretty sure that non-fee transactions are all-but gone. That's why the mempool just grows and grows. There was no mechanism for expiring transactions though I believe that was added to Core in October (not sure if it's in the current stable release yet though). Core will no longer relay them by default and with blocks full on a regular basis, why would miners bother?

Clearly their influence is making Bitcoin too inscrutable. Possibly even more dangerous than centralization.

I know, right? I ignore those little lights that come on on my dashboard too that tell me I need more oil or to replace the brakes and so forth also.

And fuck the blockchain for it's factual data. We should just replace it with hope & dreams instead.

Next up, I think full blocks vs time and probably fees vs time.

Just from interest, I ran this. The blue line is the free block space, the red line is when Satshi implemented the current block size limit.




Haven't had this one in a while...

Cheap stocks?

That's not an irrational position.

If you're buying bitcoins just to have some or to buy some drugs or whatever, you probably don't care much about how it works. If you're buying a bunch because you're a speculator, sure you should know about what's going on.

Also note the subtext. We had one block found in an hour. It took *three* blocks after that for the backlog to clear. Then we had an hour with two blocks.

An artificially low block size limit means that backlogs won't clear quickly, no matter what fees are in use. The only answer is some stupid bidding war apparently.

I wouldn't be surprised if Hearn's words had some effect either. Whatever you think of him and his opinions, he's a fairly major figure.