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401  Bitcoin / Bitcoin Discussion / Re: Is Blockstream the reason why 4 core developer won´t increase the blocksize? on: May 31, 2015, 07:52:04 AM
This does appear to be a potential conflict of interest.
One approach is to make the Bitcoin blocksize larger and adapt it through a fork to process more transactions by itself.

The other is to implement Bitcoin features through the use of sidechains but keep the max size the same for now in effect creating a system of Altcoins that are perfectly intergrated with Bitcoin also known as sidechains and thus becoming a true part of Bitcoin.

If this becomes a question of Bitcoin development then discussion should be moved towards what the majority of users would prefer to have, one option would be to fork with the potential to improve Bitcoin through intergration into sidechains or to fork and increase the blocksize for now, my main question is why a bigger transaction size would interfere with the blockstream idea in the first place and why both couldn't be done in one fork.
__

"The implementation of lightning networks would also require appropriate tweaks to Bitcoin core. Some developers have noted that there is a certain degree of affinity between sidechains and lightning networks.

The deployment of sidechains interoperable with Bitcoin requires the implementation of suitable hooks in Bitcoin Core. That will inevitably take some time, but it’s worth noting that some Blockstream team members are also Bitcoin Core developers.

The Bitcoin Sidechains paper envisages an ecosystem of “sidechains” separate from the main Bitcoin blockchain but interoperable with it. A sidechain can carry bitcoin as currency, in which case users will be able to seamlessly transfer bitcoin between the sidechain and the main blockchain. At the same time, the sidechain can implement changes from Bitcoin Core. For example, a sidechain can implement more powerful scripting features or more watertight privacy.

“Other approaches seek to modify Bitcoin protocols in various ways,” wrote Robert McGrath. “For example, Sidechains aim to create alternative blockchains hanging off the main blockchain, which would help limit the costs of the main blockchain. Another variant is the Lightning network, which aims to allow some transactions to be performed “on the side,” and on send the results to the main blockchain.”

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We can have a network of arbitrarily complicated transactions, such that they aren’t on the blockchain (and thus are fast, cheap and extremely scalable), but at every point are ready to be dropped onto the blockchain for resolution if there’s a problem,” he said. “This is genuinely revolutionary.”

__

If we use the sidechains without increasing the block size in BTC, the sidechains will also fill up our disk.


If I read the above quote correctly Eastwind it would send a message to the Blockchain but the sidechain would have its own client and do the work external to the main chain in most cases, instead we would see a shift of weight in the sense that Bitcoin is used as a ledger to track and record transactions with complex instruments moved off the blockchain with the results recorded on the main ledger. It also would be  possible  to have merged mining supplement Bitcoin fees and blocks based on the presumption that Sidechains have their own value in and of themselves.

In other words an interesting article when you consider some of the implications of it.
https://bitcoinmagazine.com/20618/blockstream-starts-development-lightning-network/

402  Bitcoin / Bitcoin Discussion / Re: Bitcoin Core or XT? POLL on: May 31, 2015, 07:16:31 AM
So the real poll option should be for XT to be implemented into Core instead of one over the other
Sounds like a good option fuze them together Smiley
My question then becomes why isn't that possible presently?
Because, according to some, the changes that Gavin made were applied in XT and some are hurtful to the security of Bitcoin.
I'm not sure exactly which those are, although this is possible.
This is what I said that some of them should be re-done (disregarded if needed) and then correctly and safely implemented into the Core. There is no need to split up.

Based on that definition it sounds like XT is an experimentation or Beta and Core would be the Alpha any ideas that would be disregarded because of risks could safely be tested in the XT ecosystem and given the time to develop in a bit of a shell, then when the changes are determined to be safe and non detrimental to Bitcoin it would move to the main client and core.

In that case perhaps the two system idea isn't so bad as it would be a way to avoid lengthy debates about installing new code into that core client that could still be risky while allowing code trials to be experimented on in a relatively secure environment I presume that is what you meant by potentially detrimental to Bitcoin security, so perhaps having both is the best answer or did I fuzz it up somewhere.
403  Bitcoin / Bitcoin Discussion / Re: Lucy Liu is into bitcoin on: May 31, 2015, 07:04:05 AM
Maybe she saw there is a thread "Lets talk of Asian girls" in Off topic part of forum and she realized need to somehow return the favor.

That was a beautiful post Febo
I had a good laugh at that one that said it's always good to have celebrities talking about Bitcoin and its related components such as the blockchain as it increases awareness of the technology even if it is a small bit of positive news its good to hear.
404  Bitcoin / Bitcoin Discussion / Re: Bitcoin Core or XT? POLL on: May 31, 2015, 06:59:27 AM
OP hopefully you realize that the poll will produce very inaccurate results?
The best solution isn't Core nor XT. Some updates from the XT should be re-done and then correctly implemented into Core.

So the real poll option should be for XT to be implemented into Core instead of one over the other
Sounds like a good option fuze them together Smiley
My question then becomes why isn't that possible presently?
405  Bitcoin / Bitcoin Discussion / Re: Gavin Threatens to Quit Bitcoin Development and Join Hearn's Fork on: May 31, 2015, 06:47:25 AM
"Today on the Sourceforge hosted Bitcoin-development mailing list Gavin Andresen has threatened to leave his present group of Bitcoin software developers over their objections to his demands for a rapid hardfork of the Bitcoin network. In the event his demands are not met Gavin plans to join Mike Hearn's Bitcoin-XT project which is a fork of the Bitcoin client where Hearn implements patches that Gavin's current affiliated developers find too risky to implement in any mainline Bitcoin client. If Gavin defects to Bitcoin-XT he plans to work with Hearn to lobby merchants, miners, and businesses to move to Bitcoin-XT. Previously Mike Hearn was responsible for the March 2013 Bitcoin network crisis."

Original post: http://qntra.net/2015/05/gavin-threatens-to-quit-bitcoin-development-and-join-hearns-fork/

Based on this article it seems like a development choice to work on a second route without the full team behind it.
As it is I see no issue with following different routes
Consensus will be reached through multiple paths but until its needed people will use Core and if it proves to be a significant issue move to XT if this is a two route fork then it could become one of Bitcoins first splits.
We will see though if unity is kept or not.

It is a bad thing that one person currently has so much influence on the bitcoin perception
 him leaving should not cause more than a small dip on the news, otherwise it has become to centralized around him.
It is a bit concerning that Bitcoin is centralized in a sense on the reliance of one particular dev but that aside I can understand Gavins role and it does remain important.
406  Bitcoin / Bitcoin Discussion / Re: Bitcoin Core or XT? POLL on: May 31, 2015, 06:33:39 AM
I didn't know we were having a name change
That said since it could be related to a fork it makes sense to name it differently so people are more aware
My vote goes to XT for the third gen and back to our trend of two letter names
QT - > Core -> XT

I'll probally have to look at it later though to get more info on it seems like there is some issues here that I need a better background of.
http://qntra.net/2015/05/gavin-threatens-to-quit-bitcoin-development-and-join-hearns-fork/
407  Other / Archival / Re: Ross Ulbricht sentenced to life. Good or bad news? on: May 30, 2015, 02:50:20 AM
Neutral
If were talking about underground markets the price is impacted by the amount of working exchanges and their are still quite a few out there, what happened to a dealer may not impact the underground much, for new users it could be seen as either positive in that dealers are caught or negative if they percieve it as a risk of using Bitcoins.
408  Bitcoin / Bitcoin Discussion / Re: Reminder: Lawsky promised Bitlicense by the end of May "at the latest" on: May 30, 2015, 02:44:48 AM
Anyone have twitter?
https://twitter.com/benlawsky

The latest tweets on Bitlicense go as back as Febraury 19.

He wants people to watch the spelling bee to distract everyone from the Bitlicense news
Well his last tweet anyways two more days to go.
409  Economy / Speculation / Re: Predict the price of Bitcoin on 1 April 2016 - win CBX (Crypto Bullion) on: May 30, 2015, 02:28:56 AM
This seems like an interesting enough guess
I'll estimate a value of $688.25 American on April 1 2016
With a blockchain halving and a rally later into that year.
410  Bitcoin / Press / Re: [2014-12-24] CD: Canadian Startup BitGold Closes $3.5 Million Funding Round on: May 30, 2015, 02:22:00 AM
I haven't heard about the company but giving the article a read but not bad getting 3.5 Million.
That said this company seems familiar to the E-Gold hopefully they don't end up with the same type of ending.

"At BitGold, we solved this problem by developing a platform that is part gold exchange, part payments technology and part custodian, resulting in a powerful user experience that advances gold from a physical element to an instantly accessible unit of account and store of value for the Internet, an operating system for gold.”
411  Economy / Speculation / Re: What do you expect from the halving in 2016? on: May 30, 2015, 02:14:00 AM
The increased media attention to Bitcoin will likely increase awareness
Whether that will result in a price increase is another question
That said it would make sense to go up if the press did stories on what's happened since the last time they did articles on Bitcoin and did adoption stories on the other hand if they highlight Silk road trials etc than the common users might be passive.
We will see hopefully the Nasdaq Winkeveli ETF, Retailer adoption news is highlighted.
412  Economy / Service Discussion / Re: Circle is giving away $5/~0.021 BTC for new users on: May 30, 2015, 02:07:55 AM
Pretty sure this is already expired now.

Still works.

I remember someone was giving away free Bitcoin for signing up
Think this is a revival of an old circle campaign its good for new users though to get started Smiley
413  Bitcoin / Bitcoin Discussion / Re: Would Ross Ulbright be facing jail time if..... on: May 30, 2015, 02:06:12 AM
Would Ross Ulbright be facing jail time if he didn't charge ANY fees at all?

Let's say he operated Silk Road as a free service and probably "unmonitored" with a disclaimer that he is not liable for what goes on.

So would he be still facing jail time?

He still could be charged since he arranged a murder order
That said as an operator of a drug site he would have been charged commission or not.
414  Economy / Securities / Re: [ActiveMining] Official Shareholder Discussion Thread [Moderated] on: May 30, 2015, 02:00:25 AM
Hmmmn

Haven't looked at activemining in ages
Assuming its still dead though
415  Bitcoin / Bitcoin Discussion / Re: List of members of BitcoinTalk sentenced in a court of law concerning Bitcoin. on: May 30, 2015, 01:49:49 AM
Trendon Shavers (aka pirateat40)
Bitcoin Savings and Trust
http://www.coindesk.com/bitcoin-ponzi-scheme-operator-pleads-not-guilty-to-fraud/

No court time yet pending letigation
416  Economy / Gambling / Re: Someone should make agar.io for bitcoins on: May 29, 2015, 11:39:01 PM
I have never heard of Agar.io so I went to check it out
That was fun I enjoyed playing as an Ameoba haha and eating Doge Smiley

I can see this working if people all started at the same time put a bet on and the winner or top 5 if there are a lot of players got to keep the pooled prize.
417  Economy / Speculation / Re: Why is bitcoin so stable now? on: May 29, 2015, 11:31:52 PM
Is it because all of the weak hands have finally been shaken out and people are just waiting to see what happens now? What are your opinions?

It tentaitively** Could be the bottom but it's been a constant that the price has dropped over the last year, whether all the hands have finally been shaken or if the market is planning an upward or downward rally is hard to say.
At the least it seems stable and its down a fair percentage from its all time high so it could be going up from here or waiting for news on how other developments are going before a pattern amongst buyers is settled.
A third option is that its finally settled at its operating range for a long time to come still a while to go on this one.

*Bottom has been called countless times and it kept dropping
*Stability here could still go up or down until a trend breaks
418  Economy / Economics / Re: Major Banks Admit Price Fixing... Hugh Penalties on: May 29, 2015, 11:26:44 PM
I still don't understand the relationship between banks and governments in a democratic country

It seems they are not belong to the same owner, but they have some kind of cooperation. Now after financial crisis, bank's reputation drops dramatically, governments set more laws to regulate banks and constantly putting fines on them. But on the other hand, government still borrow from banks to stimulate economy, so they have some kind of dependency

Anyway, if they are not belong to the same owner, there will be lots of political conflicts. Currently government are focusing on AML/KYC part to tighten the money flow control, but it is just a matter of time before they eventually hit the most critical part: the money creation

It depends on the Bank, if its a Central Bank that can be different than a private bank, while both are privately owned the Central Banks main objective is to control monetary policy, while some banks are just to hold deposits etc.
It's been a while but if I recall correctly there are a lot of regional banks in the US but only one Federal reserve that controls the whole system.
In my opinion the best bank is a credit union since it spreads its profits among its owners although for some convinences a balance in a traditonal bank account is better.
(As for money creation its been done a few times QE spending but I might have misunderstood your point on that.)
419  Economy / Economics / Re: Advantages of Dollar as the first currency for U.S on: May 29, 2015, 11:03:13 PM
No sovereign government will allow any foreign currency (including USD/bitcoin) to circulate on domestic market in a significant scale, since that will make all the monetary policy of their central banks obsolete

US so far have succeeded in making most of the petroleum trade in dollar, but that is also accomplished by lots of wars in middle east and still there are countries trying to escape that system

That's a good note as more countries stop relying on the US dollar as the mechanism of trade for petroleum trading, the importance of the US dollar as the means to exchange goods and services decreases.

We have seen some agreements being established amongst different countries to trade with their own currencies amongst each other and bypass the US dollar from China, Europe, Latin America and Asia but for now the US is still recognized as the lingua franca of oil trading.


Thanks for info and resources, yes I was thinking like this,  if countries stop using dollar then its value will be declined tremendously and it will have bad effects on U.S economy but not sure about the effects on other countries economies.

It would depend on how tied they are to the US economy, countries that are less reliant on the US will experience less correlations than those with strong bonds, example Canada US trade tends to follow each other economically, except when you get a nice oil boom and Alberta acts as the engine of growth keeping the economy in good shape, or Canadian Banks don't own Subprime and take less risks so don't get burned as badly in a financial crisis, otherwise their tends to be fairly similar correlations.

On the other hand countries like Saudi Arabia, Venezeula, Qatar which do not trade as often with the United States except in oil resources would feel less effects from the US economy tanking directly but would feel some of the effects from the changes in commodity prices such as oil.  

In the cases of Venezeula Saudi Arabia and Qatar they could easily enough move their oil to China, while Canada would have pipeline issues and be less capable of doing that, (The Brent Price vs West Texas Intermediate), so that helps to determine the level of effect it has on their economy and the % of trade they have with another country and their reliance on them are correlated.

Trade is a double edge tool an isolated nation like North Korea in theory has no dependance on other countries trade (But in exchange most people live like crap as we keep hearing) Versus a small open economy that is dependant on trade and takes a serious hit when other countries have problems like the EU news we keep hearing about.
Contagion is a pain.

420  Bitcoin / Press / Re: [2015-05-29] CD: Silk Road Operator Ross Ulbricht Sentenced to Life in Prison on: May 29, 2015, 10:42:47 PM
Throws in another source
http://america.aljazeera.com/articles/2015/5/29/silk-road-ross-ulbricht.html

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