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Worlds first digital currency? Not even close. I like the idea and will delve in more soon!
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1. Some sort of rolling blockchain that snips off unneeded data from the oldest blocks as new ones are added, thus keeping the blockchain continually pruned and of manageable size.
2. Much higher coin supply. Let's face it, the 21 million was all about marketing the perceived scarcity. There really are no discrete "coins" here, just trade-able units with really no hard cap on them at all. This is software, and as long as another zero can be added to the right of the decimal then new trade-able units will always be available no matter what the starting amount of "coins" is said to be. There's a lot of semantics involved in promoting the scarcity angle.
3. Better distribution of coins. The goal should be to produce as wide and even a distribution over as long a time period as possible. Ideally, everyone connected to the network with their modest PCs would be contributing useful work and getting rewarded to some extent with new coins - even if it's only a dusting of mBTC now and then.
It's not easy to distribute crypto widely and evenly so that it rises in price much slower and more predictably than Bitcoin has, but I believe it would be an overall improvement if a better scheme were devised.
Satoshi, I suspect, would agree with #3. He advocated a gentlemans agreement to keep GPU's out of it as long as possible... |
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I guess the current limit is 7/sec. Is there any way to optimise this to 500/sec.
Is litecoin any better for this?
http://en.bitcoin.it/wiki/ScalabilityJust so no one posts it with an impolite message attached! |
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I think Bitcoin 0.3 still used the term "generate"...can't be too hard to spot the terminology change in the code!
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Is anything being done about this?
Yes.
The obvious solution is to reduce the orphan cost. To do this solved-block propogation time needs to be lowered.
This is being worked on by migrating from a complete block to a skeleton block, with only the headers and merkle tree included. This alone would reduce the orphan risk cost by about a factor of 10. Thanks for the reply. According to the above analysis, the fees are already about 1/30th of what they should be for miners to break even. The skeleton block solution gets us to 1/3. That's just at the current price. Don't you think this is a big problem? I assume that, at some point, economic reality will kick in and miners will start to demand much higher fees. Suddenly bitcoin isn't so great compared to alternatives. ...and then the block reward halved... |
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Well, it used to be like <1%...but now it's like 80%
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I don't think it will take as long as it did the first time  |
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My bad...mtgoox.org...the link clearly says Mt. Gox exchange - mtgox.com / [Ad] www.mtgox.com / Mt. Gox is the world's most... Google should not allow this... Oh, to the mod that moved this...really? This isn't an accusation, it's a fact...if the forum supported modern mobile devices, I could post the screenshot to make it easier for anyone to prove...I think this thread is best in the main discussion so newbies see it. Google cannot control every phishing site ............ be your own "police", take responsibility for every URL you visit. To underscore the obvious: google took money to create a deceitful ad. That's poor form -- and it's trivial for them to prevent abuse of this form by enforcing link titles to match destination urls... Imagine if everyone in the world adopted the attitude you suggest...you wouldn't want paramedics duping people in an emergency everyone is vulnerable to some degree in some situation. |
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My bad...mtgoox.org...the link clearly says Mt. Gox exchange - mtgox.com / [Ad] www.mtgox.com / Mt. Gox is the world's most... Google should not allow this... Oh, to the mod that moved this...really? This isn't an accusation, it's a fact...if the forum supported modern mobile devices, I could post the screenshot to make it easier for anyone to prove...I think this thread is best in the main discussion so newbies see it. |
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I just googled bitcoin price (on wife's phone) and the sponsored link/ad at the top said it was to mtgox.com...only it wasn't, it was too mtgoox.com. The site looked like mtgox.com (even offered to switch to mobile like the real gox site does).
Does Google permit this kind of fishing?
*edit-- updated thread title
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I've gotten a few random Bitcoin payments over the past few months I wasn't expecting...I heard that this was going around the community and no one was sure who was doing it or why.
Anyhow, it got me thinking. I'm a physician, a radiology resident (see my npi in my old posts). There are several physicans that work where I'm in training that helped found a hospital in west Africa. They just installed an X-Ray machine and they don't have an ultrasound scanner.
Getting the hospital set up on the internet and getting a PACS (radiology image sharing) network installed could really be useful (volunteer radiologists could read cases remotely). Ultrasound would have a huge impact on patient care and they're not incredibly expensive ($20k ish). With a reliable internet connection, getting the hospital set up to accept donations in bitcoin wouldn't be a huge stretch (the hospital is aimed to become self sustaining/self funding).
Has anyone done something like this? I think it would be cool to show in a real way how Bitcoin can change and save lives. Pipe dream or do-able? How do I bridge the gap between the real world and digital currency gently (without sounding like a crook or used car salesman)?
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Sign message with private key
Import private key (including 22 char mini private key...not supported by the blockchain.info website)
Manage watch list addresses
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Necro warning!
FYI: I can confirm my card was redeemable at MtGox and _not_ via blockchain.info (they must not support the 22 char mini-private key, despite the UI elements stating all formats are supported).
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Curious to gauge interest in a future meetup to discuss the current state of bitcoins in Chicago/IL businesses and bitcoins all around.
Been one of the few Chicago businesses accepting bitcoins for the past few years.
I'd be willing to accept bitcoins (and possibly other cryptocurrencies) for drink purchases at some awesome yet divey bar to make it a fun event.
I live ~50 due west of Chicago. Currently, I'm in Vegas at the Inside Bitcoins conference. PM me a reminder. Bruno Kucinskas Bruno -- really? I did medical school in Chicago…we lived in Wheaton…I'll be in Winfield between Christmas and new years -- I'd like to meet you! |
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Due to a knee injury, Faysal Hanneche had to cut the trip short to the South Pole, thus no Bitcoin flag will be planted. http://transantarctic.wordpress.com/Here's to hoping that Faysal has a speedy recovery. ~Bruno Kucinskas @Faysal -- we have a few good orthopedic surgeons over here in Minnesota. You can crash at my place if need be |
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Payment protocol designed to help people be certain they are paying the correct address. Hopefully in version 0.9!
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Way to go Faysal! Safe journey home!
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