what he says is correct..
visa's "authorization network" (the one that doesnt settle transactions but just says ok or not before the funds actually move) can handle a CAPACITY of 42,000 authorizations not settlements.
and blockstream who have consultants as part of PwC who are IBM.. yes the same company who help out VISA and the same company who were writing in the article..
so yes blockstream want bitcoin to turn into a more centralized system like visa's where it has a authorization network(handles tx's in seconds) and days later settles the accounts.
but they fail to debunk one big thing.. bitcoin does not have 900million users. and so any doomsday story that bitcoin cannot scale to visa ONCHAIN is a flawed argument. with the only intention to move the smaller population away from bitcoin and onto less secure, less distributed networks or centralized hubs.
which ultimately will dilute the pool of full nodes if people are playing with sidechains because they realise they dont touch bitcoin onchain and so ignorantly become central hubs/sidechain nodes. which along with pruned mode, no witness mode and everything else also reduces the distribution of real full bitcoin nodes.
so the slow growth ONCHAIN over many years will not disrupt bitcoins security/distribution of nodes as much as diverting people away from bitcoin will.
so yes the debate is not about classic vs core...
its about code simple change or major change.
its about security, everyone concentrating on using the same fundamental protocol rules and same network/same ledger. or different networks different rules, different ledgers.
the last part of blockstreams plan is to make bitcoin not even a ledger(record of account) by bloating each transaction by 250bytes to hide the values of spending(confidential transactions). making it harder for the network to trust that a bug hasnt suddenly created billions of bitcoins. or that a double spend has or hasnt happened. again risking the fundamentals of bitcoin.
all because blockstream has ties to VISA and multiple banks, all via the go-between PwC
"Blockstream wants to centralize Bitcoin" FUD has been proven wrong a million times. It has also been proven with data that increasing the blocksize too soon will centralize nodes. Running a node is a pain in the ass now, imagine if you make the blockchain grow twise as fast. You are just playing the stupid conspiracy theory. "all because blockstream has ties to VISA and multiple banks, all via the go-between PwC" Oh so guess who has ties to CIA, Gavin, guess who has ties to Google and directly works for banks, Mike Hearn... see, we all can play that game. At the end of the day, the best devs are the Core devs, and the only devs that came up with a solution for the problem (Lightning Network) without centralizing the core of Bitcoin (the only thing that makes Bitcoin valuable is that its decentralized, if you lose this then it's worthless). Bitcoin will never scale to global levels all on-chain without massive centralization, so LN is the best solution. |
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More and more people are catching up with the governments agendas all over the world, which intend to ban cash and establish a nightmare-ish society of absolute control, that's why are starting to see a value in Bitcoin that they never saw before: A way to keep your wealth out of this freak-ish level of control. It will be the substitute for cash.
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My prediction = 878.00 on January 1 2017
I don't mean to be rude, but what do you have to back this prediction up? I can understand it if you are adjusting for the recent upswing in the Bitcoin price, but that seems just a bit too high for just over a year from now. Consensus reached and a lot of new BIPs and interesting additions being added. Segwit and lightning network coming soon that will solve the complains about transactions getting stuck, and absolutely 0 real competitors because all alts are just not as good as the Core dev team... many reasons to believe in the biggest moon you've ever seen. |
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21 Bitcoins in 21 years seems like the perfect way to go. Anything less than 21 Bitcoin just doesn't feel right, you gotta hit that magic number to be safe for a fantastic early retirement, until then, I will not rest for a minute, every second must be about thinking how to increase your Bitcoin stack, otherwise you are wasting your time.
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It's great news, considering that we have been through very crucial and sensitive consensus meetings and we have gone through them with a stable price, without any of the relevant people on the circuit going Mike Hearn about things they may not like.
I think this summer will be fantastic for Bitcoin.
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Does anyone know the policy of bitcoin mixers with regards to them saving data and how do customers know for sure that's being done?
Because if they don't keep records, if an entity was chasing after someone, the mixer company couldn't provide them with any info even if they wanted too
It's a gamble. Even if they say they don't, you are just trusting them, something that goes against the ideology around Bitcoin, which is to make the experience as trustless as possible. Mixers are not to be trusted, we need a better solution. That's why integrated Coinjoin in every wallet ever is a necessity. |
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why is Poloniex's trading volume consistently so much higher than a number of other established exchanges?
The offer a somewhat reliable service (no downtimes and no endless waiting for the funds to get in), and the layout it's good.. that's about it. Everything else is just pretty much luck. An exchange is limited to giving you an experience that is as reliable as possible for as long possible, Poloniex seem to be doing this, until it goes Cryptsy, I hope it doesn't. I thought that when they forced people giving real names to withdraw crypto the exchange would crash because everyone was leaving, but apparently it survived (no one uses their real names anyway). |
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Antoine Griezmann was great in the latest match with Real and scored a decent goal, even tho I think this level of performance is not enough to win a title. I think as soon as Real wakes up from the current state they would have won Athletico much problems, but they are underperforming so much lately. I think Cristiano Ronaldo was right when he said that the rest of the team is not at his level.
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If skill based games were a thing in Bitcoin, we would see a lot of people playing those instead of only slots and dice, and in skill based games you can reduce the % of luck by training, you can never do this with good ol dice and slots. Unfortunately we are only limited to a handful of skill based games like Battlecoin and the agar.io clone and those aren't responsive enough lag wise to be worth devoting al to of time into becoming skilled at it.
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There are many news about banks "blockchains" lately; especially on Coindesk. What does have Bitcoin with these blockchains? Nothing ! Then why does Coindesk make so much buzz about that?  What is the interest behind these news? There are hundreds in the last 6 months regarding to different blockchains without ANY relation with Bitcoin. Ther are some sites with certain agendas that become clear after paying some attention to the way they make news and what they talk about and how. For example it's clear that bitcoin.com editors are pro-Classic and anti Core and re always spreading FUD about Blockstream, it's also clear Coindesk must have some sort of Ethereum related business going on where they are pro R3 and pro "bank blockchains"... you gotta know what you are reading or else you'll get scammed. |
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I don't have many BTC, but I like to have some on my phone on the Mycelium wallet, just like you carry some cash with you I like to carry some BTC too just in case.
But anyone can steal your phone in crowded areas, or you can simply forget it somewhere.
I have an Android phone, and I was wondering if there is a way to fully encrypt the whole thing so when you don't use for 30 seconds, it automatically goes into locked mode, and the content get's all encrypted unless you type the password. Well it's a bit overkill to type a long password everytime you want to check your phone, so maybe the digital sensor for the fingertip should be safe enough to unlock it (even tho I trust long passwords more than this type of protection but like I said before, typing long passwords to unlock your phone all the time is very annoying).
If someone steals it, they would need to find a way to decrypt it. I have no idea if there are ways to bypass fingertip verification but while the stealers are trying to figure it out, this would buy me enough time to simply go home and get the funds out of the Mycelium seed into another wallet that I control outside of the phone, so if they every decrypt the phone they wouldn't find any BTC (I would be worried that they find personal information tho..)
So tell how to do this, im sure there is a way.
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I'm going with theory number 5. The CIA and the big banks of the world would want him arrested as Bitcoin disrupts their financial power of the world. As of now, the fed can simply print US currency and control the wealth of the world. With Bitcoin, this is decentralized, so nobody can control Bitcoin. This also means the modern citizen in the future would have more control over their finances.
I think they wouldn't arrest him... they would simulate a suicide, or they would make it as if he disappeared, but I don't think they would even want him alive and captive since he could become some sort of hero like Julian Asagne has become for a lot of people, and this would bring worldwide fame for Bitcoin pretty much overnight. I hope Satoshi is good but that's what I think. The dude is rivaling the status quo at the most fundamental level and some people aren't aware of this yet it seems. This isn't a game. |
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First of all, we don't know, and we never knew Satoshi's financial status before creating Bitcoin. What I mean is, he could have been a millionaire already, so this wouldn't mean he didn't need the extra money Bitcoin gave him, and he had some ethics and decided to leave the initial mined coins untouched.
Second option is, he simply lost the coins, and he can't take them back: the coins are lost forever.
Third option: He died before he had a chance to move some of the coins/got killed by a triple letter agency.
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Never had a problem, just pay the required fees. The only problem that may arise is when you are trying to withdraw funds from an exchange, and since the exchanges sometimes don't let you choose a fee, or don't have in-built "perfect fee" calculator like the Core wallet, so you can screw up on there and send the incorrect fee.
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Everytime I win something in the markets I restate my assumptions: The best gambling is done on the exchanges, where you buy some altcoin, then you just wait for it to pump and sell at a profit. This is pretty much guaranteed long term, if you pick the right alts that is, but any alt with a decent volume pumps sooner or later.
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Never had to wait 3 days for a transaction... that's insane. If you are waiting 3 days for a transaction you are paying a shitty or just no fee, so that's you deserve if you want to go the super cheap way. If you want to be just cheap and not super cheap, pay the default fee and the transaction will be confirmed in a matter of minutes.
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I can't think of any realistic scenario where you would be in danger with even 1 single confirmation... if it's confirmed once I think it's enough and more than that would be worth the wait if you are dealing with a lot of money and so you are more reasonably paranoid about it being as secured as possible.
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I think Barca has already won, its over for real they can never win this league, its too late to try anything. I think Zidane will have to do a lot of changes in the team and maybe the trainer itself will not be there by the end of summer so we will see next year.
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The best is to keep stacking up and holding a good amount, and on the side try to have some luck in the market by buying an altcoin when it's really cheap, and then dump when the hype kicks in. There are a couple of good projects worth holding even mid term and not only for a quick gain. I think Maidsafe is great and im still holding some after dumping some on the last pump. I think it will keep going higher in the next months.
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Well it seems like Russia has a lot of Bitcoiners judging by this graph:  the usage is really important, I think that in the countries where the governments decide to ban Bitcoin, are the countries that get the most usage, like on China where its not really legal but they have a big interest as you can see by the mining industry. i think the more gov bans or limits Bitcoin the more interest people will have. |
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