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And if you all beleive in the game theoretical fundaments of keeping bitcoin safe and allined then the flexibility of the blocksize is a small pice in this genius construct of Satoshi.
If you try to fix this artificially than you dont belive in bitcoins manifest and show your paranoidity or flawed interests (power?).
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Both bigger blocksize and lightning networks increase centralization, but bigger blocksize increases centralization in an horrible way, anyone that isn't an idiot can see this fact, so lightning network is the best option we have if we want to see poor people using bitcoin too.
PS: I dont know the details of LN because im not an expert engineer in the field, but it's easy to assume that anything that isn't an onchain transaction decreases decentralization to a certain degree, but onchain with huge blocks is even a bigger mess since govs can shut down the network anyway.
LN coin, RSK, MU2coin,... are all not real bitcoin. Discussed so manny times now again and again. Any 2nd layer stuff is not same in manny aspects as Satoshis bitcoin (security!!!) You also should better go post in altcoin section. Not here. |
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You don't have to use Lightning Network if you don't feel comfortable with it.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
Yeah. But if LN and others will be used heavily and blocksize stays as is (SW /1MB) then tx fees will explode to the sky and you will be forced by fee (fbf) to use it unless you are not a big whale. Just use some other altcoin for small transactions. you always have a choice. Not needed if you free the on chain scaling. I also cannot find your limit minded advice in Satoshis white paper. i guess you post in wrong forum section... |
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You don't have to use Lightning Network if you don't feel comfortable with it.
There are a few other projects similar to Lightning Network in the making, and you don't have to use those also.
Yeah. But if LN and others will be used heavily and blocksize stays as is (SW /1MB) then tx fees will explode to the sky and you will be forced by fee (fbf) to use it unless you are not a big whale. |
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Lol @ the ETH bull trap. Those poor people. Sorry I couldn't resist.  It is back up to $295 after the dip tho? The bull trap was at the ATH ( 390 or so) - now we saw a bear trap at 225. I estimate the uptrend is broken now and we see max a double top... |
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Many distributed computing projects "mine at a loss" ... since forever. Cracking RSA, looking for aliens, folding proteins, cure for cancer, large mersenne prime numbers, golomb rulers, studying asteroids, climate predictions, detect earthquakes and a whole bunch of other math stuff.
They all "mine at a loss". Only bitcoin has been the first distributed computing project that has an economic incentive, yet early miners all mined "at a loss".
This is a great view and the biggest difference to all other (ETH) ICOs Satoshi really mined 'at a loss' since first 2 years the price for all those bitcoins was mostly 0.000 - but he had lots of expenses for mining and time spent and no look into future price and success. I've to explain this to newbees all the time and it's hard to understand today where price is 2500$ ! |
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Electrum < Desktop wallet > 3
Blockchain.info < Online wallet > 0.2
Mycellium < Mobile wallet > 1
Trezor <Hardware wallet > 100
Xapo < Offchain solution > 5
Paper Wallets < Cold storage > 1000
Coinbase < Exchange > 0.1
I've put some max coin counts behind in bold that should show how safe I estimate these stores ( and how much coins I dream to own ...) |
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But ethereum is also an altcoin. Ethereum is a good alt coin but the quick increase of it is making everyone believe that it is on a bubble. As long as it had a good price in the market still its not failing but its price is falling. I guess the cause of this is the fearing news about it and the crowded miners gpus demand.
Can you list 3 specific reasons for Ethereum being good? Good for the ICO guys that did exit at ATH Good for the exchanges Good for the volatility |
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did any of you see whether that Bitstamp wall was eaten or pulled?
edit: definitely pulled. Volume confirms
Oh thx Postings on topic might be reported to mods... Beware |
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The gold price dropped heavily this morning. Reason was a fat finger issue / human stupidity issue: A guy just mixed ounces and lots and even gold markets are very thin / low liquid. Same could happen in bitcoin's thin markets as well. More reasons to be unveiled....  |
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there is no fair hedges in cyptocoins world
If you look at >1000 coins and there might be less than 5 - you are right! |
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I feel very sorry for all those lemmings and average Joes when now the ICO whales and pumper put lots of wallets into deep red losses.
If you do some analysis of your own (I will not tell you my results otherwise you have chance blaming me on pumping) there is not much coins / opportunities out there to hedge into - beside Bitcoin ( and no - not Tether that is worse than fiat)- that came into market mostly silent, fair - no whales and not much pumped yet - but sadly as a result also not much volume yet.
It's up to you to find out and generate some volume - bitcoin is still 'best' hedge I believe.
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I'd say one of the biggest reasons at the moment is going to have to be all of the tons of people joining in on Bitcoin thinking it's going to be 'easy money' for whoever gets in on it fast, so what it's doing right now is making a HUGE DEMAND for a currency that is really IMO being used for mostly trade at the moment. This is one of the core reasons, but some of the other reasons are going to be the amount of money that's being put into cryptos in general (not just Bitcoin) and these people need a currency to exchange, which is always bound to be bitcoin.
Whales are the ones that are making this volatility a thing, or an issue, these and the day traders are the people that are bound to make a SHIT TON of money from the volatity being higher as they have a higher margin to be able to catch Bitcoin on and make a buck.
These whales are only whales yet since the real whales like Black Rock and co are not or very tame in the game and the daily trading volume is that of a poor country's currency. |
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I wonder how would be the volatility if we could exclude the speculation factor from the scene.
The speculation factor is one major reason for adoption. Think about all the small forex traders trading with nearly no capital but with leverage. All the gamblers and gamers. They have no big new playground for pennies. |
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This should help at least to understand that SW is NOT a long term on-chain scaling solution at all, rather a compromise and a tech sneak to get in bitcoin with a soft fork, rather than a hard upgrade. Might buy time, for what sake?
If you ever thought this, you're an idiot. SW is the first stepping stone towards long term scaling. A block size increase, in comparison, is nothing and aside of throughput effectively useless. Sacrificing a part of decentralization for the sake of some profit is what "big blockers" is all about.
BW Pool has started signaling Segwit: https://www.blocktrail.com/BTC/block/0000000000000000006738d26d61dfa2020379104d55d5e77a3b5ae90fe34787You know that I was alwas arguing against SW and many others still do. Idiots can be very clever or even genius so I take this as merits. If core was about to 'step' with this I can only see it was a step into a splitt of our community where you had some merits for as well. SW2x gives back of some of the community and also some freedom and opens door for compromis and more user == decentralization. More decentralization that you might ever be able to proof having strict small blocks ( and small community support and fewer idiots). |
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I first thouht this segwit thing is a simple thing but it's much more complicated than I've ever guessed. And the block size thing is also very hard to understand and I'm still looking a an easy source to understand the whole idea.
In simple terms. - There is a limit to the amount of information a block is allowed to contain.
- Segwit changes how we calculate the amount of information in a block
- By doing so, segwit allows for the creation of a block that contains more information than current blocks do.
- Because a 1MB block will still be 1MB (with or without segwit), many people want to add an actual increase in block size (not just a reformulation of how size is calculated)
- When you hear "Segwit will give us 3 MB blocks" it means the amount of information in a block will be the amount of information that would previously have been counted as 3MB (as the signatures are not part of the segwit counting)
That help any? This should help at least to understand that SW is NOT a long term on-chain scaling solution at all, rather a compromise and a tech sneak to get in bitcoin with a soft fork, rather than a hard upgrade. Might buy time, for what sake? |
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