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As the block reward is halved, it is anticipated that fees transacted will increase to compensate.
Are you serious ? If transaction fee increases by 10 per cent on every block reward halved so according to your suggestion, transaction fee is to eat up any sum transferred in a future. The fees now are not prohibitively expensive, and keep people from spamming the blockchain unless they have a lot of bitcoins . I am sorry but many people don't have a lot of bitcoins today and not every man is a millionaire today ( 1,000 bitcoins made $ 1,000,000 only 2 months ago) People with a lot of bitcoins probably aren't going to spam the chain Any transaction is just a valid Bitcoin transfer transaction. like a bunch of clueless shatoshi dice newbies who have no idea what they are doing and how it affects bitcoin. Do you suggest Mr. Satoshi developed his Bitcoin idea for the rich only ? According to your opinion, his great idea of no middle-man bank has been turned upside down into Bitcoin bank for the rich. World of made of 7Bs poor and just few Ms rich. Bitcoin bank was developed for the poor since the rich don't need virtual bank or virtual currency since they are satisfied with present banking standards and can afford bank fees. Bitcoin was exactly developed to let parties save on transactions tools. Ever increased transaction fees can disrupt any great idea like the one by Mr. Satoshi. |
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- 'WE' are the miners, they don't accept dust payments. It would clog up the network.
- Satochi designed Bitcoin so it could accept micro transactions (cut)
- Mister Satochi is not the owner or boss of Bitcoin. He designed the first versions, now a whole bunch of developers are improving it. It looks like Stratum protocol is a nice solution to your problems. No network clog risk. http://mining.bitcoin.cz/stratum-miningFrankly speaking I would prefer Mr. Satoshi (vs. Satochi) to stay Bitcoin boss forever and comment "improvements" made, implemented by developers on a permanent basis, as exactly in case of Linux and Linus Torvalds, principal author of the Linux kernel. As suggested before, Bitcoin network can / cannot be clogged by a volume of transactions made in a future Blockchain made of > BTC 0.01 or < BTC 0.01 microtransactions. It's not smart to suggest Bitcoin network cannot survive Bitcoin microtransactions once implemented and supported since alike clog can happen by volume of > BTC 0.01 transactions on the global success of Bitcoin payments in a near future. It's not smart to suggest, transaction fee is the only solution to control the volume of Bitcoin transactions and keep Bitcoin network on and operational now or in near future. Frankly speaking, cloud computing mining, offered by IT powerful global VIPs can easily take control over Bitcoin mining, reducing number of individual Bitcoin miners to 0. What we speak about is a number of solutions to let Bitcoin network to survive longer time than early gold rush years. It looks like Bitcoin microtransactions can help Bitcoin network to survive, attracting millions of new clients, promoting Bitcoin globe-wide. If you suggest Bitcoin dust money microtransactions can clog the network today, so we need to build Bitcoin2 network right now, accepting microtransactions and accepting Bitcoin satoshis as exactly FED controlled banks accepted every penny or cent in the past, keep accepting and declare to accept in the future. There is no such legal term like "money dust" or "Bitcoin dust". Bitcoin satoshi is legal tender within Bitcoin network. |
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There's already been a vote, and the bitcoin network agrees. What don't you understand about that? We DO NOT want dust transactions spamming the transaction backlog. People with real money need to be able to move bitcoins.
The bitcoin developers can't implement this change either, it has to be the miners. All the miners already decided that they don't want you or your dust transactions. No amount of crying in the world is going to change that.
You clearly don't understand bitcoin at all.
There's already been a vote, and the bitcoin network agrees So if the bitcoin network agrees so where is the problem with microtransactions ? We DO NOT want dust transactions spamming the transaction backlog. Who is WE ? Any Bitcoin transactions is legal transaction under Bitcoin standards. If you claim Mr. Satoshi did something wrong or his idea has week points just say so. http://bitcoin.org/bitcoin.pdfThe only official website endorsed by Mr. Satoshi is the above Bitcoin: A Peer-to-Peer Electronic Cash System Satoshi Nakamoto satoshin@gmx.comwww.bitcoin.orgwww.bitcoin.orgCan you see any ban on microtransactions in Bitcoin ? Money is money and there is no dust money. Under Proof-of-work, Merkle Tree algorithms implemented by Mr. Satoshi and nonce0, nonce1, nonce2 implemented by mining pools it takes the same amount of time to sign a block with one transaction as with 1,000 or 1M transactions since Merkle Tree algorithm is very fast. Microtransactions can generate just another Blockchain if you are afraid of so called "Bitcoin dust spamming" But solution is not really complicated as exactly in case of no-reward, zero-fee transactions in general. You can earn BTC 25 ... BTC 25.05 or nothing There is no need to violate the genuine idea by Mr. Satoshi and claim Bitcoin transaction fees as charged by real banks in real worlds. There is no need to punish those doing zero-fee, no-reward transactions since your reward is still granted by the system - BTC 25 as of today. as Mr. Satoshi said : A block header with no transactions would be about 80 bytes. If we suppose blocks are
generated every 10 minutes, 80 bytes * 6 * 24 * 365 = 4.2MB per year. With computer systems
typically selling with 2GB of RAM as of 2008, and Moore's Law predicting current growth of
1.2GB per year, storage should not be a problem even if the block headers must be kept in
memory. There is no WE DO or WE DO NOT in Botcoin network since there only one man in charge of the Bitcoin network and his name is Mr. Satoshi. Since Mr. Satoshi endorsed Bitcoin microtransactions there is no sense to claim otherwise. One Blockchain for > 0.01 BTC transactions and one Blockchain for zero-fee microtransactions < 0.01 BTC can be established, maintained and supported by Bitcoin network. There is nothing in the Articles of Incorporation of the Bitcoin to oppose the above. If we, the poor people let Bitcoin transaction fees to keep growing on, so one day Bitcoin idea by Mr. Satoshi may collapse since real banks in real worlds can offer better terms and support for no-fee microtransactions and real-time verification and booking of microtransactions, making people to forget about high-fee Bitcoin transactions. |
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And it is done that way because the core developers implemented it Exactly the case. Core developers can implement support for micro and nano transactions any time to let us donate Bitcoin dust to local and global foundations. As with any p2p public project on the Internet, there is one man (VIP) behind the project, who can suggest and enforce such nice solution to be implemented. If you suggest public voting is required to implement Bitcoin microtransactions so just let us vote. |
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You can try that, but it's not gonna work.
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Nobody wants to mine without earning anything.
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Ok, "minting" pool, populated by thousands of of dust Bitcoin owners (skilled craftsmen), interested to have their micro and nano Bitcoin transactions signed can be self-supported and run on the same basis as any other mining pool I can offer renewable energy solutions to power up computer facilities, ASIC, nano computing at zero-cost so we can reduce are costs and share 25BTC among members. Earning on share basis can work the same way as any pool mining. email me if you are interested to have your dust, micro nano Bitcoin transactions supported by a new micro transactions 25BTC "minting" pool made of skilled craftsmen Why do you suggest our skilled craftsmen should work for free, if awarded with 25BTC on every block signed |
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thank you
"
you could run your own mining pool to accept micro-tx.
If people out there supports your idea, they would prefer your pool over the others and points their miners to your pool.
"
I am exactly interested to establish no-fee, zero-award 25 BTC minting" pool, accepting micro, nano transactions, to let us trade in, collect, process, aggregate , donate "Bitcoin dust"
Can you guide me on how to start with micro, nano transactions "minting" pool ?
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to get private key protected on tangible media off-line.
It's possible by using the importprivkey command. Ok. I have installed Bitcoin application under Windows XP, run in GUI mode. Should I run Bitcoin from command line in off-line mode to get address generated, saved and private, public keys saved ? Bitcoin is not coming with any help file, on-line manual. I am not interested to use Bitcoin for downloading blockchain. Just testing security of Bitcoin application and the way private and public keys, address are generated and handled and protected against attacks by hackers (MS Windows XP). I plan to use Bitcoin to generate private key in off-line mode and have it saved to tangible off-line media like pendrive or CD-ROM to not let windows applications coming with built-in keyboard logger functionality to steal and export my private key to third parties. |
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" Mining is a business, not a "challenge", and you don't "win" anything, you get paid for providing a service. " Nothing is mined in Bitcoin technology. Collector's item - Bitcoin - is minted by skilled craftsmen and traded freely, purchased by other collectors. You don't get paid for Bitcoin service all you can do is to mint 25 Bitcoin today and sell Bitcoin at Bitcoin exchange or buy service, goods paying with Bitcoins, if accepted by the seller, trader. Bitcoin minting is R&D challenge in maths, IT, quantum computing, 1Ph/s ASIC technology, cryptography Read carefully - no need for transaction fee https://en.bitcoin.it/wiki/Transaction_fees" At the moment, many transactions are typically processed in a way where no fee is expected at all " |
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Hi,
could you tell me how to extract and save private and public keys from Bicoin application
to local file, to pendrive, to get private key protected on tangible media off-line.
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the real question is, can that fee cover the cost of electricity
Cost of electricity is your own option and risk to join a challenge and win BTC 25. " Instead, almost all nodes simply refuse to relay them and almost all mining pools refuse to include such transactions in blocks. " It looks like powerful VIPs took control over Bitcoin network deciding what transactions are ok and what should be delated, implementing double spending in microtransactions. Block creation should be time clocked process to have the same block created every 1-10 min and distributed to every interested party not to let dirty games to be played to closing doors to Bitcoin micropayments to poor people from Africa and other developing countries and regions. What is Bitcoin dust for the VIPs from Japan, US, Europe is still a real money paid for the poor villagers from Africa, Asia and developing countries. Price of 1 Bitcoin can grow to $ 1,000,000 one day requesting people to stop < $ 100 payments via Bitcoin network since $100 payment may be called Bitcoin dust next year . If someone pointed out a weak point in the idea of Bitcoin collector's items , minted by skilled craftsmen (not mined by miners) rejecting thousands of micropayments, so the idea of Bitcoin should be reviewed and bugs removed. What was so called "Bitcoin dust" 2 years ago is a real money today since price of Bitcoin went up from < $1 to $1,000 So micro , nano Bitcoin payments should be rolled into account balance sum assigned to one signature every year via zero-award fee-free self-payments exactly as I can do at any real bank today. If UN and others awarded Nobel Prize for the inventor of microcredits so let me win another Nobel Prize for micropayments solution and technology within Bitcoin network. Price of 1 Bitcoin can grow to $ 1,000,000 on speculation and minting mechanism implemented limiting delivery of Bitcoin currency to the market. I fully support Bitcoin micropayments since I work closely with UN Foundation, other UN agencies, developing renewable energy solutions for Africa and other poor, underdeveloped regions of the globe. My intention is to implement Bitcoin micropayments into UN agencies world-wide. If you personally support Bitcoin micropayments please support me via https://www.facebook.com/NanoBitcointo let us develop nice solutions and technologies in support of Bitcoin micropayments |
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The Bitcoin network does not reject microtransactions. Instead, almost all nodes simply refuse to relay them and almost all mining pools refuse to include such transactions in blocks. If you can find a mining pool willing to include microtranscations in blocks, and you send your transaction to them directly, it will be accepted by the Bitcoin network. Good luck with that, though.
The issue is Bitcoin network must be managed fair. Satoshi declared every Bitcoin microtransaction, single satoshi transaction is valid and must be verified to be valid. It looks new developers violate basic terms of Bitcoin rules, as implemented by Satoshi. Acting that way, one day we have to pay 50% payment's processing fee, if not banned by Satoshi. It looks like more and more new rules and standards in Bitcoin transaction processing are implemented. Satoshi, try to protect your Bitcoin currency as no-fee crypto bank. If we let transaction processing fees or such fees to grow, there is no difference between standard banking system in real world and Bitcoin payments in virtual worlds, affected by high payment processing fees. Please try BTC 0.000ooo01 self microtransactions, as endorsed by Satoshi, founder of Bitcoin and report problems via https://www.facebook.com/NanoBitcoinThere is no need to demand any extra reward, transaction processing fee, since BTC 25 is ok as a fair reward. |
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There is no default fee in Bitcoin microtransactions. Transaction fee is by declaration and can be set to 0.000ooo00 via Bitcoin app input window. Try to send BTC 0.000ooo01 to your own address to risk nothing to let us know timing of your transaction (if signed with a number of valid blocks) https://www.facebook.com/NanoBitcoinI am surprised, developers of Bitcoin protocols suggest any transaction processing fee, transaction reward since it doesn't make any sense. If you can sign a block you are awarded BTC 25 if you can't sign a block you still get nothing. |
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It looks like new developers in Bitcoin network went wrong, rejecting Bitcoin microtransactions. Let me know your opinion since I am interested in your support for transactions in micro and nano Bitcoins since core developers of Bitcoin declared Bitcoin network to support every BTC 0.00000001 transaction. https://www.facebook.com/NanoBitcoinIt looks like there is no need to offer transaction fee, as suggested, since Bitcoin banking should be free, zero-processing fee based. |
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I just join the global experiment in microBitcoin nanoBitcoin transactions and then ?
Thanks. Publish timing of your microBitcoin BTC 0.000 001 nanoBitcoin BTC 0.000 000 01 transactions - if signed, rejected, removed by Bitcoin network as suggested by new Bitcoin network developers. Frakly speaking, there is no legal ground to reject microBitcoin, nanoBitcoin transactions, as endorsed by core founders of Bitcoin business and network and to call microBitcoin , nanoBitcoin transactions as dustBitcoin as suggested by new Bitcoin developers like gavinandresen and others https://github.com/bitcoin/bitcoin/pull/2577 gavinandresen opened this pull request 8 months ago Treat dust outputs as non-standard, un-hardcode TX_FEE constants Acting that way no-reward mBitcoin transactions should be rejected the same way Bitcoinity has already switched to trade in miliBitcoins, see below http://bitcoinity.org/markets To live with 360 sec local publishing limit, please publish your results ( transaction accepted, rejected .. your comments) via https://www.facebook.com/NanoBitcoinhttps://www.facebook.com/NanoBitcointhanks |
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Do you already have experience with ASICs ?
What do you think about the possibility of developing ASICs for Scrypt ?
No need to develop ASIC for Scrypt, as suggested by you. I am trying to develop 1Ph/s Bitcoin Miner integrating best of ASIC and Holo Computing, Quantum Computing to win BTC 25 every day in signed transactions. To integrate Holo Computing blocks into ASIC blocks I exactly need to know state-of-the-art in 1 Th/s ASIC architecture, blocks implemented. I need sha256 hashing implemented as Javascript, exactly for the same purpose. I do hope to fund 1Ph/s Bitcoin Miners via crowdfunding ( about $ 10M) and have first 1Ph/s Bitcoin Miners in operations within the next 12 months). In 2014 1Th/s bugdet Bitcoin Miners can flood Bitcoin markets ( 1M units) so next target is 1Ph/s |
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I am really sorry but gavinandresen is not correct claiming microBitcoin or nanoBitcoin be called dustBitcoin. Trust in Bitcoin business is the trust in every microBitcoin, nanoBitcoin transferred and signed. Bitcoin currency was not intended to serve 1BTC payments only. Look at Mt.gox Ltd. Japan for fee schedule == Volume (In BTC) Trade Fee Discount (Total) Discount (By Tier) 0 to < 100 0.60% 0.00% 0.00% == Bitcoinity has already switched to trade in miniBitcoins == Bitcoinity switched to mBTC as the default bitcoin unit. 1,000 mBTC = 1 BTC 1 mBTC = 0.001 BTC http://bitcoinity.org/marketsSo microBitcoin is just another step in making Bitcoin global. If you prefer to call microBitcoin a dustCoin so you are violating basic Bitcoin standards not set by few guys any more. It was the intention of the Bitcoin developers to let us make microBitcoin and nanoBitcoin payments and have such payments signed, hashed as zero-reward (no-reward) transactions. It doesn't matter if transactions in your collection list BTC 0.00000001 or BTC 1.0 since you are still awarded BTC 25. |
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You are asking for a job, then wanting to be told what to do?
Or i didnt get yout post?
Exactly the case, looking for a job, interested to join a team, developing 1 Ph/s Bitcoin HoloMiner QuantumMiner. I can manage this project, looking for partners with budget. |
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Please
join global experiment in microBitcoin nanoBitcoin transactions.
- to study economy of microBitcoin and nanoBitcoin transactions ( for obvious reason no reward is offered).
- to study timing of microBitcoin BTC 0.000001 payments
- to study timing of nanoBitcoin BTC 0.00000001 payments
To study if no-reward transactions or Zero-reward Bitcoin payment or money transfer transactions can be smoothly handled and verified by Bitcoin system.
I can provide you with microBitcoin and nanoBitcoin accounts to provide on-line web-based tracking of such micro and nano transactions in Bitcoins.
Let me know your opinion if Bitcoin infrastructure is not going to reject today zero-reward microBitcoin
and nanoBitcoin payments.
darius
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Hi, Looking for a job - development of next generation Bitcoin ASIC miner - HoloMiner - QuantumMiner. A long time ago ( Artifficial Intelligence Journal - paper) I have described one-pass sorting algorithms. It looks like modern Asic Bitcoin miners have already implemented alike approach, so I would like to go one step ahead with Holographic Quantum Technology Mining to have all hashes solved first as a real-time hologram and have ASIC to find the right hash, if any for the given input. 2. I would like to work for a company developing Bitcoin Asic Miners, targeting 1Ph/s Bitcoin ASIC miner. 3. At the same time please let me know your opinion if a growing number of miniBitcoin or even microBitcoin transactions cannot flood the network, generating 1M transactions blocks, shifting more attention and computer power to Merkle Tree job. 4. Let me know what Bitcoin mining app comes with API and can be scripted to save every generated hash to file . Still looking for mining app in Javascript to be run off-line to generate Ms of hash patterns to be processed by new concept Asic miner. 5. Tell me how to download all blocks in the chain as a csv database for off-line postprocessing 6. I am looking for No. of transaction over the time unit (1s/ 1min/ 10 min - transaction density distribution charts ) - some interesting Bitcoin web links I read come from https://blockchain.info/en7. Tell me how to learn more about ASIC development, programming and what classes of problems can be solved using ASIC technology. 8. Is there any risk - largest Bitcoikn transactions, largest transaction block can flood the Bitcoin network with no-reward transactions - mini Bitcoin, micro Bitcoin transactions. |
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Thank you
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