Why stop there? Lets put TXIDs, scriptsigs, and addresses into separate data structures and calculate merkle trees for each. Now the block chain doesn't need to have ANY of that data in it. We can SHA256 a cat of all the merkle roots and now every block has 256 bits only! We can now fit infinite spam in the chain.
many a true word spoken in jest (well ridicule in this case) |
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Bitcoin moves across borders relatively frictionlessly and speedily (10 mins to hours not days). This creates lots of seemingly bizarre global arbitrage opportunities ... the same 9k btc can be sold on a western exchange and back being bid up in china within an hour. Large cross-border fiat settlements take 3-5 business days at best.
Chinese BTC is getting sold on Western exchanges? Shouldn't we be seeing a bit more (as in 'corresponding') volume if that's the case? .... guess you missed the friday night dump in your razor-sharp focus there? 29k in 3 mins, probably some room for chinese btc in that flood. So what you're telling me is bitcoin's blinding 10-minute transaction speed is instrumental in getting BTC super fast on western exchanges, where it is made to sit for days, until there's enough of it to crash the price if sold in one gigantic lump? The trick's to lose as much money as possible? That's how arbitrage works? Help me out here. .... why should I help you out? You sound a bit too slow to be helped that much tbh. |
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Bitcoin moves across borders relatively frictionlessly and speedily (10 mins to hours not days). This creates lots of seemingly bizarre global arbitrage opportunities ... the same 9k btc can be sold on a western exchange and back being bid up in china within an hour. Large cross-border fiat settlements take 3-5 business days at best.
Chinese BTC is getting sold on Western exchanges? Shouldn't we be seeing a bit more (as in 'corresponding') volume if that's the case? .... guess you missed the friday night dump in your razor-sharp focus there? 29k in 3 mins, probably some room for chinese btc in that flood. |
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Garzik already submitted BIP102, which I think would be an acceptable "can kick" to further study the issue and possible solutions... The conference is over, and there is no plan in sight. I don't really think a controversial overhaul of the system in the form of SegWit is going to offer any relief, any time soon.
heh, so that's the disingenuous spin you guys are going to use for redditard herp's consumption is it? Any of the latest breakthrough improvements that are not approved by the benevolent, wise, central committee guardians and protectors of the free shit derp army are now going to be a " controversial overhaul of the system" ?? Unless of course we raised blocksize (bigger fat wheels are ok for the beer-can hat brigade). |
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....they are buying btc in china and selling btc in the west
Where's the demand in the west coming from ? rising prices from the buying in china create new demand in the west ... it's like a free energy machine  Possibly - but shouldn't the oversupply on the western exchanges hold down prices ? I mean, the price on Huobi has no material effect on BTC in the west - might as well say BTC is trading at $10k in China - makes no difference to us, materially/practically. Are we that gullible ? It is not a matter of gullibility, just supply, demand and inherent delays to the time preferences for pricing, discovery, settlement and clearing. Bitcoin moves across borders relatively frictionlessly and speedily (10 mins to hours not days). This creates lots of seemingly bizarre global arbitrage opportunities ... the same 9k btc can be sold on a western exchange and back being bid up in china within an hour. Large cross-border fiat settlements take 3-5 business days at best. |
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I suggest you read up on "conflict of interest". It's not about conspiracy. It's an objective fact.
I would suggest you keep your inane suggestions to yourself, but I'm too polite for that. |
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....they are buying btc in china and selling btc in the west
Where's the demand in the west coming from ? rising prices from the buying in china create new demand in the west ... it's like a free energy machine |
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When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence? https://blockchain.info/charts/n-transactionsAny future rally will be meaningfully constrained by this "safety feature". ... soon time to start high-grading for valuable TX anyway. It's an industrial level tech., can't always remain a sandpit for toy projects. Which makes you misguided about rallies being "constrained" ... but hey, who am I to stop people losing money? Miners should decide which transactions are valuable enough to process, not a central planning committee. Especially not a committee which is dominated by a for profit company which was explicitly formed to offer a "solution" to the "problem". c'mon, enough with the conspiracy FUD smearing, stirring up, slinging and smearing. The miners do indeed decide but they are for now more than happy to delegate that responsibility, wholly, and huge development costs to the development community (no committees involved for those not paying attention). Feel free to submit better ideas to the bitcoin development github Issues: https://github.com/bitcoin/bitcoin/issuesPull requests: https://github.com/bitcoin/bitcoin/pulls |
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When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence? https://blockchain.info/charts/n-transactionsAny future rally will be meaningfully constrained by this "safety feature". ... soon time to start high-grading for valuable TX anyway. It's an industrial level tech., can't always remain a sandpit for toy projects. Which makes you misguided about rallies being "constrained" ... but hey, who am I to stop people losing money? toy projects like allowing a billion people to claw their way out of squalor? Toys are things that are not needed, you elitist fuck. Find some other way to buy drugs and cheat on taxes. Helping impoverished people save money is not a toy project. ... don't get your longjohns bunched up, noone is trying to stop anyone crawl their way out their backwater muckhole. At some point you will realise that freight trains, tractors and steam engines are for doing real work and cars and light trucks are what people use for everyday trade. It's just engineers recognise these functional differences first, especially in more abstract arenas like globally-networked electronic commerce. Hint: there are great opportunities right now for building everyman layers, i.e. the cars and light trucks, go be the next Henry Ford instead on here whinging that your SV buddies can't use 'their' steam engine to pop-out for a latte. |
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When the network gets near hitting capacity of ~220,000 tx per day, the rally gets its head lopped off... coincidence? https://blockchain.info/charts/n-transactionsAny future rally will be meaningfully constrained by this "safety feature". ... soon time to start high-grading for valuable TX anyway. It's an industrial level tech., can't always remain a sandpit for toy projects. Which makes you misguided about rallies being "constrained" ... but hey, who am I to stop people losing money? |
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... the next chunk of chinese change is getting ready to chug through the pipeline.
If you guyz haven't figured it out yet, they are buying btc in china and selling btc in the west ... and working the underlying general rise in their favour to soak up the entry/exit costs and arbitragers going the other way making out with too much. This is bitcoin fulfilling a need, some guyz want to get money out of the big red communist empire and btc works well for them. Learn to ride the waves pumped out by these movements, each one leaves us higher than the last, that's the tide coming in, not the waves.
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... and now the chinese ramp begins again.
Looks like 400 is a lock.
All you sub-400 shorts and sold out bulls need to cut your looses ...
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settling in the 400s would be lovely. so lovely, but it seems the turbulence is here to stay now  i kind of liked the long $230, meant i could focus on my actual life. words of truth... who wants coffee? send out for pizza too? |
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mmm, friday night stilletos?
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great.. price is back to what it was in the morning  bitcoin rally problems Thanks for the best laugh I've had in years, kids! I'm going bull now. Leveraged long at 420 seems appropriate. Let's ride it back up. Don't worry fellow bulls, I was always on your side. I will never short again. i knew i liked you ... here we go you're in synch now. BJA you loser, get out of your shorts yet? |
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No shit, Einstein. You must think very highly of yourself for figuring that out on your own.
Like I'm the only asshole talking his fucking book in here.
i like you already ... ! Thanks, man. I'm a bull at heart. I have only recently been experimenting with shorting. I usually have better results than I did today, but sometimes you eat the bear, and sometimes the bear eats you. After smoking some Alaskan Thunder (in a chocolate wrap) and a few sips of Bushmills, I am calm, cool, and ready to explore all options. I shorted at $450. What now folks? I'm open to suggestions. Be kind. I am humbly admitting my error. buy the dip now |
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2 million $ worth of longs added on bitfinex in the last 12 hrs, total near $26.5 mil . Shorts below 8k btc.
If that isn't a recipe for a crash, I don't know what is. When the price starts dropping, there will be margin calls. I will admit, I shouldn't have sold at 450. I should have waited for 465-470. That doesn't change the fact that this leverage fueled rally is not sustainable, and will end with a massive move downward. Get out now, or lose all your gains. What exchange are your bids on? finex Why do you ask? Seems like your pushing your own agenda trying to get people to sell so you can buy back in and minimize your losses. No shit, Einstein. You must think very highly of yourself for figuring that out on your own. Like I'm the only asshole talking his fucking book in here. i like you already ... ! |
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2 million $ worth of longs added on bitfinex in the last 12 hrs, total near $26.5 mil . Shorts below 8k btc.
If that isn't a recipe for a crash, I don't know what is. When the price starts dropping, there will be margin calls. I will admit, I shouldn't have sold at 450. I should have waited for 465-470. That doesn't change the fact that this leverage fueled rally is not sustainable, and will end with a massive move downward. Get out now, or lose all your gains. sweating yet? imagine a massive incoming tsunami is retreating that let you wander out onto a dried seabed and pick up some pretty shells before .... well you know what happens next |
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If humans are going to survive for another million years we're going to have to start thinking about things like geoengineering and terraforming. Have you people even considered that?!  First, we'll need a modern monetary system ... and here we are. Time to scrap some obsolete, broken systems and corrupt ways. Bulldoze, rebuild. Sure terraforming and interplanetary expansion sound like fun projects, just give me some sound capital, rule of law and a level playing-field to work with. |
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For the moment it dosent look like chines are too excited about passing 3000 yuan level.
Are they still sleeping at Saturday morning? Its 9:00 am there.
... that's ok, we got the Indians, Koreans, Malaysians, Indonesians, South Africans, Russians, Ukrainians, Brazilians, Argentinians, Venezuelans coming on-line. |
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