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The 5-minute chart looks exactly like the 1-day one... Amazing!
Go BTC go!
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Guys, what's happening?
Kraken (€) is pumping like there's no tomorrow...
15387 15420 €
Oh man, I will dream about BTC again tonight...
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one that can scale right now to peak-time VISA levels, by design.
Y'all realizer yer fabled LN can't scale to Visa levels without a huge block size increase, right? I can't prove to you that it can, but I believe that it is several orders of magnitude better than a mere block size increase. A block size increase is equivalent to enlarging a steam engine in the hope that it will take you to the moon, when all you really need is a rocket engine. It's not about size, it's about technology. |
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BTC ATH @ Kraken!☺15,000 €☺To the Moon and BTCeyond!Enjoy! 
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15,000 € incoming (Kraken).
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At least, no non-political reason.
precisely so stop bullying and start bridge building Right then, let's do this. One question and one chance to answer. Do you believe that the current transfer capacity of the bitcoin network is sufficient? Just a straight yes or no. No. Why? Because the way it currently works, every little transaction that occurs has to be recorded in the blockchain. Even the 1 € transfers that I made to my students to demonstrate Bitcoin to them, or the coffees that millions of people will potentially buy every morning will have to be broadcast, confirmed, and be forever present in it. I argue that this is unnecessary. There is no need for every little micro-transaction to be explicitly recorded in the blockchain. Instead of constantly increasing the block size to accommodate for those millions of near-zero value, but non-zero data size transactions, we should aggregate them into a much smaller number of massive-value, but small data size transactions that would be added to the blockchain daily or weekly or whenever needed. The fees can be high, because a single fee payment can cover millions of micro-transactions, where each individual's actual coffee fee could be less than a cent. Having high on-chain fees can be beneficial in actively discouraging spam attacks on the network, so the blockchain stays clean of spam and contains only high-valued transactions that have a reason to be there, and justify the fees paid. That's roughly the idea behind the Lightning Network. This already happens in computer data transfers. Bits are not transferred one by one, but in packets of bytes, which in turn form much bigger packets of data payloads, and it is these big packets that get checksummed and validated and transferred as big chunks of data. There are different layers of data processing that are in place to optimally achieve the end result. That's how networking works and that's how I believe Bitcoin's scaling issues should be approached. We should aim for VISA-class throughput, not a mere 4x or 8x increase. I understand that the network is at its limits and something needs to be done very soon. But just imagine what will happen if something goes wrong... The whole thing could collapse! The code base maintainers have a huge responsibility to ensure that the new code works as intended and for that they must do extensive testing and validation before releasing it in the wild. It's no piece of cake. You saw what happened with Bcash. They had to fork it themselves to replace the poorly written EDA algorithm. You only had to glance at the graphs to see the quality of each network. It's no easy task. The core devs have chosen a conservative approach, maximizing robustness and stability as much as they can before releasing any updated code. It can be a painfully slow process, but I trust it will lead us to the proper scaling solution in the end. |
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Oh, how I'll really enjoy quoting this discussion when the Lightning Network (or other proper scaling solution) goes live and becomes mainstream...
Reminds me of a song by Leonard Cohen:
"and all the lousy little poets coming round
tryin' to sound like Charlie Manson"
Nope. Lightning is gonna fail as hard as segwit. We need something universally applicable, and NOT FUCKING OPTIONAL. Bigger blocks work. Nobody except miners would be affected, and even miners would keep their relative position to one another. There would be literally no change, for anyone, except anyone who pays fees. Which is all of us. The "bigger blocks" solution hasn't been tested on a network of the size and load of that of Bitcoin. Bcash is not Bitcoin. "Bigger blocks", will appear to solve the problem for some small amount of time, until the fees will rise again and we'll soon be asking for "even bigger blocks", ad infinitum. A proper scaling solution should be implemented, one that can scale right now to peak-time VISA levels, by design. |
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Oh, how I'll really enjoy quoting this discussion when the Lightning Network (or other proper scaling solution) goes live and becomes mainstream...
Reminds me of a song by Leonard Cohen:
"and all the lousy little poets coming round
tryin' to sound like Charlie Manson"
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From Kraken's announcement: Remember that if you are publicly advertising your involvement with cryptocurrencies, you are making yourself a target. Be extra careful guys! We don't want a $5 wrench unlocking our wallets! |
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Euro-ATH @ Kraken!
14,450 14,450 €
14,450 14,490 €Super quick! You quoted me before I managed to correct my edit! |
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Euro-ATH @ Kraken!
14,450 14,490 €
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Nice to see green as the dominant colour on my screen...
Kraken Euro-ATH incoming...
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http://www.ub.comDon't forget about the fun new fork from Jeff Garzik with added Satoshi coin theft. Wow, that twirling effect on that site is mesmerizing! I think I must have spent at least 10 minutes just staring at it... Good work Jeff! Notice the resemblance to a toilet flushing? At least they're using the Futura font, that's something. It went to the moon and beyond! https://www.youtube.com/watch?v=SaX_PwxSh5MGreat video, thanks. I've always been fascinated by typography. Good to know the story behind Futura. But for "United Bitcoin" I think RealMachasm's toilet analogy is more fitting... |
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This sideways movement is killing me... Come on BTC, do something!
Thanks, asshole. You just caused the price of BTC to tank. I hope you are happy with yourself. Man, you're right! What have I done? Are we... Oh, wait... https://youtu.be/4r7wHMg5Yjg"That's sooo nasty!" |
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http://www.ub.comDon't forget about the fun new fork from Jeff Garzik with added Satoshi coin theft. Wow, that twirling effect on that site is mesmerizing! I think I must have spent at least 10 minutes just staring at it... Good work Jeff! Notice the resemblance to a toilet flushing? LOL!!! United BlackHoleCoin... It sucks everything. |
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This sideways movement is killing me... Come on BTC, do something!
We can't go on like this...
And, it seems that the entire Internet has become slow suddenly... Kraken doesn't refresh (what's new?), Bitfinex is still "processing" my crypto withdrawal, BitcoinTalk is slow as a dried-up snail... Funny thing is that everywhere I go, I end up with that familiar Cloudflare error page, complete with Ray IDs and all. Damn!
Is crypto dead? Where's the link to that DDoS song (love that female voice)?
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http://www.ub.comDon't forget about the fun new fork from Jeff Garzik with added Satoshi coin theft. Wow, that twirling effect on that site is mesmerizing! I think I must have spent at least 10 minutes just staring at it... Good work Jeff! |
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anybody know why the bitcoin is still in region 16k?? only side not up and down?!
It's the Honey BTCadger... He's now full from eating the cobra and all those larvae (that's so disgusting), and is now chilling... Soon he'll be hungry again and... Up we go! |
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Human intelligence has an upper limit, but human stupidity is truly infinite and boundless... |
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