A hard limit, to some of you, seems to be only consensus written into the running code of the nodes. But, anyone can modify his node as he pleases. The repository is not really protected, because anyone can clone it, modify it, and even offer the modification as a branch. That is how git works, by the way, but the crucial thing is that the software is avaiable, not secret, the essence of being free software.
So there is no fundamental difference between a relative consensus using code, and no coded limit and relative consensus using discourse over the social media which includes this medium, or other out of band channels.
If there is no difference, why are we debating? Why don't the miners just raise the limit? Oh yeah, because that would break all clients that haven't been updated. This would fracture the ecosystem. There would suddenly be 2 blockchains called Bitcoin. The difference is that as long as a coded limit exists, despite all our efforts to eliminate centralization, we still need a centralized place to communicate when consensus has been reached so that everyone can adjust. Eliminating the limit would arguably reduce the need for centralized communication, but the same argument could be made for any loosening of the consensus rules. Unfortunately, eliminating the limit would open up the existing code bases to several of DOS attacks. If we really want to go that way, we need to make sure that all the software can handle blocks that won't fit in memory + swap. There are also likely other technical issues that would need to be addressed, and the only way to tease them all out is a ton of code reading and testing. When software is written, constants are treated as assumptions, and when that assumption changes there is a risk of the previous logic breaking down. |
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Bottom is reached. Can go down to 270, but nothing below. Will go up next week again. Mark my words.
Marked. |
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Dollar index is dollar priced in a basket of other currencies. All it means when it goes up is that it is experiencing less inflation than the other currencies. Unless you expect the Euro and Yen to suddenly start being stronger (good luck with that), I wouldn't short the dollar.
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What do you think of the current upwards trend? I bought when it went over $295 since it broke the level of 15-17th. But it went down now and i wonder if it will turn into a small crash. Though on the month chart it seems its still good in an uptrend. So am i right that the price might go down to 283$ and then goes up again? I think there is a strong resistance line at that price.
Any thoughts?
What is your evidence for support at 283? Sure, on a micro scale it seems to have bounced for now, but I don't see it in the longer term charts. See http://bitcoincharts.com/charts/bitfinexUSD#rg30zigHourlyztgSzm1g10zm2g25zvI learned that resistance and support are found when you check the last trading. A restistance and support is the same, it only depends on where the current price is how it is named then. And these lines are recognized by the price having to push with might through it. Going up and down through it with large candles. Of course the price drops back on these lines too. So when i look at the chart i see around 283 USD that on 10th, 16th and 24th the line was broken. And it happened with huge force, big candles. On top the line leat to bouncing of the price. That happened on 13th, 18th and a slightly on 21th. Im not a pro trader but thats how i would read it. Please correct me when im wrong. Normally i learned resistance lines are in fact more of a resistance area. But this area is pretty thin so that one might speak of a line too. I guess that's fair. We'll see what happens. |
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But the more you understand the world around bitcoin, the more you should become disillusioned about bitcoin as a competitor to the traditional finance system. It is maybe better for a online payment system... But there is no REAL problem with the traditional Kredit-Card / PayPal /Skrill / SEPA system...
Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions, ...
except by the fees or when the gov block you from accessing bank stuff, like happened in Greece and other countries in different times you know how expensive a bitcoin TX is without the subsidized Blockreward would be? The ~50$ a current transaction costs makes the traditional system look cheap as fuck... Somebody has to pay all the THs of mining power burning all the electricity 24/7... Your point still stands with the $10 the actual data shows...there is no reason to be hyperbolic. |
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What do you think of the current upwards trend? I bought when it went over $295 since it broke the level of 15-17th. But it went down now and i wonder if it will turn into a small crash. Though on the month chart it seems its still good in an uptrend. So am i right that the price might go down to 283$ and then goes up again? I think there is a strong resistance line at that price.
Any thoughts?
What is your evidence for support at 283? Sure, on a micro scale it seems to have bounced for now, but I don't see it in the longer term charts. |
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I guess that depends if it is "k' (1000) or "K" (1024). I'm not well versed in the protocol so don't know the answer to that.
Anyhow, why is everyone talking about 1MB or 20MB? Why can't we go with the dynamic block size and resolve this once and for all?
Also, with SmartChain (a form of sidechain if I understand correctly) we wouldn't even have the issue, as micro and macro transactions could be bundled and submitted to the blockchain, keeping the highway low on traffic.
I'm not speaking from a position of authority and happy to be educated. The above is just my woolly understanding.
It actually is 1000000 bytes. As for "why can't we go with dynamic block size", the issue there is how to make it adjustable without making it gameable. The actual proposed solution ( https://github.com/bitcoinxt/bitcoinxt/pull/22) is 8 MB and then a doubling every 2 years. This should provide decent capacity without overrunning Moore's Law. Thanks for the info, much appreciated. Looks like I've got a bit of reading to do. So is the 20MB block an official proposal (I had assumed it was), or is that Gavin giving the protocol a 'stress test'? So the folks behind bitcoinxt are pushing 8MB with a 2 year doubling. Sipa is proposing gradual (~ every 100 days starting in 2017) ~17% yoy growth ( https://gist.github.com/sipa/c65665fc360ca7a176a6). There is no "official proposal" since there is no "official bitcoin source" or "official developers". Bitcoin is a network and community with many differing opinions. The bitcoinxt proposal is the only one I know of that has code ready to merge, and is also the only one with a merged BIP ( https://github.com/bitcoin/bips/blob/master/bip-0101.mediawiki) |
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Surprise surprise... a payment method that most people don't accept is viewed as inconvenient. |
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I guess that depends if it is "k' (1000) or "K" (1024). I'm not well versed in the protocol so don't know the answer to that.
Anyhow, why is everyone talking about 1MB or 20MB? Why can't we go with the dynamic block size and resolve this once and for all?
Also, with SmartChain (a form of sidechain if I understand correctly) we wouldn't even have the issue, as micro and macro transactions could be bundled and submitted to the blockchain, keeping the highway low on traffic.
I'm not speaking from a position of authority and happy to be educated. The above is just my woolly understanding.
It actually is 1000000 bytes. As for "why can't we go with dynamic block size", the issue there is how to make it adjustable without making it gameable. The actual proposed solution ( https://github.com/bitcoinxt/bitcoinxt/pull/22) is 8 MB and then a doubling every 2 years. This should provide decent capacity without overrunning Moore's Law. |
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...the price will shoot up fifty dollars.
That's less than 0.96MB... Make it happen! |
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I can't compile the latest git master branch. hashtable.c:30:21: fatal error: lookup3.h: No such file or directory
#include "lookup3.h"
Running find ~/src/cgminer -name 'lookup3.h'
returns nothing, but I see the include was added in the latest jansson updates (dd2738163dac0c974ceb8e05f03083d53f3c7e93). |
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Is there sometning wrong, because there are no updates anymore?
Or... EW doesn't work ....
I've made more money with EW than anyone ever has with a 3d MACD  BTW, how is that working out for ya? It's looking pretty grim for your strategy, now :/ Just remember my post in your thread 3d MACD is nothing special it is an indicator which worked fine (see my posts where I sold 470+ on bfx). But EW... EW is promoted like rocket science, but in practice it doesnt work. Or maybe you just misunderstand what it can and can't tell you. |
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I'd like to see a youtube tip integration with or like changetip for bitcoin as much as amazon. Works so much better to micro tip people versus thumbs up, perhaps youtube could make a thumbs up to = a tip option.
Do you mean something like changetip  . https://www.changetip.com/how-to-send-tips/ lists youtube as a supported site. |
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Pigs can't into technology. Wouldn't surprise me if they lost the bitcoins.
I really hope they will lose all the private keys , it would be exceptional. However I don't like these type of person, if you own bitcoin you *must* know the technology under it. It would be hilarious if they did lose the bitcoin........ even better if they were sent to my btc address  Right up until they accuse you of stealing them, seize all your electronics and throw your ass in jail . |
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koding.com/HackathonWe are building a platform for allowing people to share their opinion with their Congressional Representatives, and to enable us to compare a district's consensus with the voting record of their representative. We have two excellent Ruby coders and a top notch deployment engineer, all of whom have systems administration experience. If we win enough prize money, we would like to make this thing ready to scale and roll it out well before the 2016 elections. We would also like to allow public funding of bills to make them easier to get past finance committees, but dealing with such in the US, especially when politics is involved, is an expensive business to get started in due to a complex legal landscape, so that will have to wait for now. Anyway, if that sounds like a mission you want to be a part of, and you have skills in HTML/CSS or Marketing please get in touch. For the design, we will mostly need CSS, as we will use classes to tag out html for layout. Familiarity with AJAX is a plus. For Marketing, social presence is a considered in the judgement, so you would basically find interesting ways to talk about the commits we are making public and the discussions on our email thread on various social media sites (particularly twitter and facebook). This competition started today, so there are 24 hours left. If we earn sufficient prize money, we will continue to work on the project at reasonable rates. If not, we will divide to prize money equally between team members.
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...
i disagree with you. i believe the 7 year graph here shows a very unstable currency that has a reputation for being used in fraudulent activity such as money laundering and other anonymous criminal activity. as can see in this 7year graph there is a crash after every peak of the dollar. that is unstable volatility coupled with years of federal reserve qe printing:
..
The dollar shows less than 20% volatility over the course of 7 years on your chart. Ignoring the fact that Bitcoin didn't exist seven years ago, its volatility was in the order of 10,000% over just the past 5 years. Bonus point: Calculate the relative stability. this guy says bitcoins early volatility is normal S curve activity: http://www.youtube.com/watch?v=qHUPPYzzZrI7 years ago on the chart was the runup to the 2007-2008 financial crisis... which eerily starting to look like todays chart. So what are you implying?  that we are still in the price finding mode for bitcoin.. that we have not reached the point in the S curve of parabolic for bitcoin .. and that the us economy is still on the edge .. that the paper fiat usd 'in god we trust' the federal reserve to print money has been a failure.. that we cannot trust an invisible god with our currency .. that science trumps 'trusting in god' to print our money. I was with you until you started blaming God for his name being misused. It is the fallibility of men that is responsible for the troubles in our economy. "In God We Trust" is a lie told in an attempt to bring some legitimacy to an obvious ponzi. |
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What it means is that we can finally find our price bottom. That doesn't happen until difficulty tapers and the inefficient miners are flushed out.
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What gold an Bitcoin have in common is that they are both inherent storages of value, and have two fold purpose: both can be used as an investment and as a form of currency. MalboroMan absolutely. i've avoided the word "investment" in deference to SOV but i kinda view them the same. clearly, i bought BTC in expectation that it would go UP in value, not just stay flat. hence, the title of this thread. the upside potential is enormous IF we can keep these apparatchiks from changing the source code which will screw up Bitcoin as Sound Money and change it into a WoW trading platform. keeping Bitcoin as Money will allow us to consume the fiat Forex markets and gold itself. we are on our way but just at the beginning. the apparatchiks will become rich if they jump on board even now. in the end, we want to force all outsiders to have to "buy in" to the BTC currency unit on the main blockchain which will send us to the Moon and provide badly needed revenue to our security providers, the miners. Says the guy who wants to change the source to increase block size. |
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It seems that this retracement was good for shorters What I noticed is that short positions are a lot more dynamic than the long ones. You would be insane to short long term in this market. |
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