Yes, theUS would simply get left behind in this scenario, and would be incredibly stupid and short-sighted to do so.
In other words, expect it to happen any day now and be ready to buy the dip, because stupid and short-sighted is our primary export. |
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1) Make the nonce long enough that the extraNonce field is no longer needed in the coinbase transaction.
2) Now it's possible for miners to broadcast their Merkle tree as soon as they start hashing (10 minutes on average before they finish)
3) When they find a valid hash, now they only need to broadcast the block header because the rest of the network has (usually) already received and validated the Merkle tree.
4) Block header propagation is very fast and not dependent of the size of the blocks.
Changing the header is absolutely not required to pre-forward the block. You simply pre-forward it along with a pointer to where the extra nonce goes, and when you solve it you send the resulting timestamp,nonce,extra nonce for substitution— even less data than the header in the most efficient case. P2Pool already implements block pre-forwarding (though not that aggressively: rather than deny the ability to add transactions, it preforwards transactions and then sends the Merkle tree+header+extranonce) . However, "10 minutes on average before they finish" isn't right... the whole network produces a block in that time, not each miner. Sending data only once every block per miner, instead of incrementally, would also massively delay transactions— the delays is not something we should encourage. Preforwarding also uses a LOT of extra bandwidth, because each non-successful miner is constantly broadcasting block data too. In any case, I think making block propagation faster is useful generally— but you don't need to change _anything_ about Bitcoin to do it. You just need to make a little fast-block-daemon which runs its own protocol to relay blocks and that could be run in parallel to the current p2p network. It's almost a bit orthogonal though, since a better positioned miner still has a _latency_ advantage. Making the data smaller doesn't beat the speed of light. I have a reply that I'll as to the thread as son as the electricity comes back on and I'm not limited to my phone. |
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I've heard second hand reports that Mark is in way over his head when it comes to operating a business the size of Mt Gox.
He's the only one there with managerial authority because he doesn't know how to delegate.
This means all business decisions must be serialized through him.
He's basically a programmer first and a CEO second.
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Bump  Bumping this thread doesn't work anymore. Maybe try translating it to Chinese? |
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Was that a 4.5K BTC market order?
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I had to quit my day job in April because I could no longer in good conscience take a paycheck when I was spending all day watching Bitcoinity.
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Use Armory.
It's got cold storage that's easy to use, and permanent paper backups that can be encrypted and m-of-n split.
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The FUD purveyors are out in full force, it seems.
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We might see 300 by the end of the week, however it is not the prices that we see it is the overall feeling of the community. Where will the resistance be after $266? When will the inevitable bubble burst and how will we know preemptively?
Look at a log-scale chart of prices over the last year. October looks strikingly similar to January. |
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That is merely a cover for what is really going on. Capital controls.
I'm not ready to rule out incompetence yet. |
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localbitcoins price is substantially higher than mtgox as well. Anyone who is using formulas similar to the ones I published in the Spring has their prices set up to anticipate future increases: |
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250 won't be much of a hurdle on Coinbase as it generally follows Gox.
Coinbase is already at $252.59 |
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do you have any more information on this?
No, but Doug Casey, Jeff Berwick, and a few others do. |
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Until the tax man accepts payment in BTC, that's unfortunately not a realistic argument.
Become a permanent international traveller and you can largely escape the tax man's effective reach. |
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I would actually prefer if the price stabilized right around here and consolidated for a couple of weeks before moving on. To much of a hype right now, and the base is way down lower, around 185-200. I am afraid that a failed attempt to break through ATH would be very bad right now.
October looks a lot like January.  |
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no , it does not make sense - how do these "unspendable" coins get transfered to Mt.Gox in the first place ?
Functionally , BTC sure is fucked up if it doesn´t perform transfers !!
https://en.bitcoin.it/wiki/Block_chain |
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