Why bitcoin has 7 transaction per second limit? Do we have any plan to increase this limit any time soon?
I mean, 7 is very small number, you don't expect many people to use bitcoin if every second can only process 7 transactions.
This is in theory and indeed 7 tps is low. In reality, 2-3 tps is almost the max and this is why we have the blocksize debate, hopefully will increase this. If Bitcoin Classic successfully takes over, are we expecting an effective 4-6 TPS for a blocksize of 2MB? |
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There are just too many factors that will affect the price other than reward halving.
Things like the increased population of bitcoiners, blocksize debate, government regulations, competing alt coins (Ethereum??)... All these will come in play and affect the price. Many of these were not in existence around the last halving...
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It seems that certain elements in the Bitcoin community seem to think they know what's best for the rest of us. Not unlike their cousins in political office, or sitting on the boards of large companies, they posses a degree of arrogance and narcissism that predispose them to this belief. That would be fine if it stopped there, but when it extends to: - DDoS attacks against people running Bitcoin nodes that conflict with their personal visions of the future
- Ad hominem attacks on respected members of the community that don't agree with them
- A refusal by other members with the same preference to disavow the above actions and shun the guilty parties
Then I find it past time to call for action. I'm interested in hearing others thoughts on the subject, but here are a few ideas to discuss: - Start a bounty to reward anyone who comes forward with information leading to the arrest and conviction of the individuals responsible for the DDoS attacks.
- Encourage more people to run Bitcoin Classic nodes as a way of protesting the unethical actions taken by those parties opposed to it
- Facilitate the creation of more Bitcoin Classic nodes by providing howto guides as well as prepackaged distributions ready-for-deployment on popular cloud service providers
I am prepared to fund ten Bitcoin Classic nodes myself and am presently working out the details so I can get started. Regardless of your thoughts on block size, it is important to realize the precedent that will be set if the actions of the Bitcoin oligarchs are allowed to stand. It will send a very clear message to the world that a small group of people will be able to take control of Bitcoin's destiny and steer it in whatever direction suits them.If and when the DDoS attacks stop and we see concrete progress being made in the development community towards a solution to the current congestion, however temporary in nature, then it may be time to end this effort. Completely agree with the OP. We definitely need the increase of blocksize like NOW! Just like what Satoshi has said, we shouldn't wait until everything is perfectly perfect. |
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I know none of these lady... Just wonder what is the link between bitcoin and beauty pageant?
I think it is better for bitcoin companies to come together to sponsor something that is more relevant to bitcoin.
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It depends on how frequent you trade at the exchange. I think the exchanges charge a small fee for withdrawal. So if you withdraw and deposit frequently, you will spend more on the fee.
I think about 1BTC will be just ok for a normal bitcoiner.
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I'm trying to gauge how much better my results would be if I was using a GPU rather than an old CPU. I'm assuming this old Acer I'm using very slow generating 270 Kkey/s. It takes a long time to generate relatively short prefixes.
Here's an example:
When I'm trying for a case sensitive prefix of 1Bitcoin it would take ~25 years to reach 50%.
How many Kkey/s (or Mkeys/s) are you getting on your CPU or GPU?
You can try vanitygen64 if you have 64 bit system. It should be faster (I suppose?). I am using a 64-bit OS so vanitygen64 actually calculating faster than vanitygen. |
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I do not have GPU that support vanitygen so the best for me is about 590kKeys/s.
50% chance to find keys with public key start with 1Bitcoin is about 12-13 days.
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https://slushpool.com/stats/Slushpool's holding a vote. Most have abstained or not bothered so it's irrelevant but those who have voted are way in the majority for the Classic proposal. There are 79.56% miners who have not decided which to go for and stick to the default bitcoin core. Is there any way to allow them to mine 50% core and 50% classic? This will change to % of classic to 79.56%/2 + 16.76% = over 56%! |
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Like mr. Trump said "these politicians are all talk no action"
Maybe he just wants some campaign contributions.
Agreed. He is not the first politician to talk about bitcoin positively. He should put that into actions. First thing for him is to understand what bitcoin is and the issues that are preventing bitcoin to go mainstream. Then he can come out with some ideas/action to help the growth of bitcoin. |
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Another choice you have is paper wallet.
Just like any other wallet, if you do it correctly, paper wallet is as secure as the bitcoin protocol!! Besides, it can be read by a human, not by a software or a computer. There is no OS issues.
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A while ago I was still considering Ethereum is a real competitor of bitcoin. However, recent scam messages and the pump and dump really make me think other wise.
I will stick to bitcoin for the time being as I am very confident that bitcoin will survive all these pain in evolution...
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I am happy to participate in the survey, if it is not taking >5 minutes...  it will attract more bitcoiners to participate, if it ends with a bitcoin-tip! |
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Good one. However, I am a bit slow- what is the meaning of "If you use bitcoin, I can't charge you fees?" (BTW, who is the guy in black suit?)
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Maybe some animation or graphics will help? I am not a fan of "news report" type of video with one person same background from the very first second to the very last. I will fall asleep after 15 seconds (my concentration is quite good!).
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I didn't realize that and no wonder I can feel my network behaving a bit strange recently.
Hopefully we will have more and more nodes to make the attack more difficult.
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Because it is much cheaper, Creditcard fees are high and has a risk of being vulnerable in every site you use them on, PayPal fees are not serious on business transactions. I think Bitcoins has many advantages over it's competitors.
This is correct but we must admit that bitcoin does have lots of issues and problems, eg. blocksize, bandwidth consideration, "unregulated & not backed", etc etc. It is up to the community to work together with a common goal of making bitcoin success. |
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If you bought in the 300 region, this is a very good moment to sell. IF you bought higher then i would wait and see what will happen.
Right now the market can go up or down very easily.
I think it is short-sighted to sell now. If the recent increase in a pump and dump, yes you should. However, it doesn't seems like it is. It was about 220+ in Oct/Nov last year and it has been >400 for more than a month- this is not pump and dump. It has higher chance to go up than down. |
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Short answer: Deflation is the enemy of debt. It appreciates debt. Inflation, however, devalues debt. And because the world (especially countries) is full of debt, deflation is called bad.
Spot on! Besides, inflation will make the rich richer and the poor poorer... the greed greedier! Both Deflation and inflation have pros and cons. |
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It is actually difficult to make money online if you have no specific skills/knowledge or selling physical goods...
Trading will be the easiest but the most risky. Solving captcha is essentially a hobby to kill time. Gamble will not bring but take away your fortune. Maybe you can look for temp job such as language translation, especially from English to your mother tongue (which is not English?).
Good luck!
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If the amount if something you can afford not to convert, maybe you should consider holding on to it.
I think in 10 years time the bank will be accepting bitcoins and the value will be many times higher than the current value.
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