just needs 20 inputs 2 outputs and already that makes $30~ in fee.
Correct. However, saying that "fees" are $30 is nonsensical and a sign of deep misunderstanding of Bitcoin. Fees are to be expressed in satoshi/byte (or per kByte) and should be represented with: 1) Median transaction fee. 2) Average transaction fee. if you use the word nonsensical one more time, then someone better buy you a dictionary for next christmas This again.
It's about the bandwidth, not the storage.
Actually it is a lot of things. A few pointers (they interact with each other at different levels; some are less important/constrictive than others): 1) Quadratic validation time. 2) Bandwidth. 3) Storage. 4) Orphan rates. 5) Propagation delay. if you cared to check out things.. we are no longer in 2009 we are not stuck with the min specs of Raspberry pi1 we are not stuck with the averag internet of 512kbit/s - 3g mobile we are not stuck with the v0.1 inefficient code. we are in 2017 we are at the min specs of Raspberry pi3 we are not stuck with the average internet of 5mb/s - 4g, .. approaching the fibre/5g era we are not stuck with the v0.12+ efficient code. - EG libsecp256k1 5x efficient plus other efficiencies all add up that 8mb.. yep even Core admit and accept as such that 8mb is deemed as 'safe' but they still double cautiously prefer 4mb. as for quadratics. keep a tx below 4k txsigops and quadratics is not an issue lauda should ever have to cry about ever again Its somehow funny, how blockstream supporters can be catched since their logic is so twisted. On the one hand the wanna let the the system run on the cheapest hardware to save the dezentralization On the other hand they accept high fees, now soon higher than the needed hardware to run things.. Awkward brains if existent at all...   |
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Bitcoin can die, it has very strong base (blockchain), but still the whole thing is not perfect, that's why they are constantly developing it.
for example: BTC is having problems with fees, they are getting so high that people are starting to using other cryptocurrencies, so there are 2 possible scenarios in my opinion:
1. nothing changes, people still investing more in altcoins - BTC dies
2. developers of bitcoin sense this as a problem, do something about this high fees, resolve problem and people still investing in BTC - BTC never dies
Hmm. Not sure about 1. Do you think one has to change gold to stay as a store of value? Immutability is a good feature for such a store, some might be willing pay high price for fees or even build some LN around and you have value centralization.... |
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ne. die nächste bubble kommt wieder in 4 Jahren nach dem nächsten halving. 2011 war nur ne zwischenblase...
Zwischenblase? Zwischenblase? Es war die bisher aggressivste Blase von allen! Wenn wir nur 1 US$ als Start nehmen (es fing ja schon früher an) schossen wir in kürzester Zeit auf den Wert x 32. Von 150 (wenn wir das als Start nehmen) haben wir jetzt genau die Hälfte Deiner 'zwischenblase' hinter uns. Um den Vergleich von damals anzulegen müssten wir den Startpunkt bei etwa 500-700 nehmen für die aktuelle Rally. Mal 32 macht 16.000 US$ - das haben wir damals durchgemacht. Ich saß drin und musste mich ablenken um nicht durchzudrehen. Rasenmähen etc. Was denkst das was asap möglich ist? Wenn man etwas konservativer als start 200-300 annimmt, dann kommt man auf Mount Everest ca 8850 . Nettes Ziel, gelle? |
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Südkorea @ 3560$ warum wird die arbitrage an den Börsen nicht genutzt?! bekommt man auf den koreanischen Börsen Fiat rein oder raus? KRW ist wie CNY nicht frei handelbar. kaum arbitrage möglich. Genauso INR und BRL ..... JPY wundert mich eher. Aber wir sehen sicher auch Unterschiede in der Kaufpower und der Versorgung mit genug Angebot BTC! |
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wait.. will you be saying that when LN starts pushing people into multisig permissioned hubs/hops... which is the only 'gesture' benefit left that segwit is suppose to solve
I used to make fun of ETH and ETC. But it looks like even after the DAO and the ETC split disasters, ETH is much more reasonable than BTC now. It has a similar market cap that BTC had 1 year ago, so ETH is only 1 year behind in progress, and if BTC doesn't pull together itself, ETH might surpass BTC. Same with DASH. People criticize DASH because of the masternode centralization. Well then what you call the Lightnight Network HUB transactions? look even deeper at the Tier network being created.. top of the pyramid.. bitcoins DNS seeds, oh look majority blockstream maintained.. next down the list FIBRE network. ... then there is the core upstream filter nodes.. then the cludge of filtered downstream, no witness, non sanctioned, prunned, lite nodes.. then the next layer LN then look when they start tweaking the DNS to not include certain versions(segwit activation) in the dns listing.. it all becomes super centralised. This is exactly what i see coming as well and its in the making behind closed doors and meetings for invited ones and no minutes and action points published after. Bit I still believe in the disruptive forces sourcing this special community here, that is exactly split already i.o. To conquer,. Hard task but not hopeless! Go on , keep it up. |
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Bitcoin Will Hit $1 Million In 5-10 years, What’s your say about this?
One thing is sure: it cannot steadily go there over a long period like 5-10 years. It would mean all the speculative money out there would see it grow steadily, and not jump the train ? No. If it gets there, it gets there FAST. (and back down after that maybe). You cannot have an asset that outperforms the market by a huge factor for years and years in a row, with steady certainty. It has to go in unpredictable bangs. Do you think hedge funds and so on, who are sitting on huge money to play with, are going to do their best to gain 10-20% or so a year in the classical speculative circuit, when there's an asset out there that has been rising 100% a year, year after year, without touching it, and let them be outperformed by a set of amateurs, year after year, on a sleazy exchange ? Of course, if you have 10 billion to play with, you cannot play on a chain with only 30 billion market cap, that's for sure. But what is sure, is that bitcoin, nor any other speculative asset, can steadily and almost predictably rise year after year in a way that makes professional financial speculators look like school kids. It can go up because the market it is replacing is USD. You Know-how much if that shit is floating in cyberspace? Not "black or white" - replacing. Not fully. Did you ever heard about "hedging" ? |
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even though <<< whoever you think is to blame >>> almost totally fucked up and killed bitcoin, it seems like we'll be able to move forward. Great days are ahead. Main stream hasn't even gotten on board yet. I'm thinking Bitcoin will be $100k within 10 years.
HODL!!!
Hope you are right about it, But for me $100k in the next 10 years seems so unrealistic/ its less than 2 orders of magnitude. How many people on the street out of 100 do you think know about bitcoin, let alone have any the correct question is "how many people on the street do you think want to invest in bitcoin" otherwise many have heard about it, even many have gone and did some research about it but not that many were willing to invest. many are scared of it being unregulated, many scared of it being in a bubble, many fall for the FUD that always exist,.... and that is why the adoption have always been slow. The people on the street might get invested not knowing, but rather indirect by funds, stock companies or things like Mobi from BTCC or just trackers or derivatives. This is already in the making. http://www.zerohedge.com/news/2017-05-23/fidelity-mining-bitcoin-abigail-johnson-says |
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I will say:" oh my god mama, I am a millionaire, no I am a billionaire and we would be both billionaire if you did trust me in a few years ago" LOL. However, I do not believe that Bitcoin will hit $1 million in 5-10 years or even 50 years
Its all about currency / country stability. If Japan goes all in ( JPY is real crap / monster dept) , why not all the others like Venezuela, ARG, Brazil, Zimbabwe, .... INDIA ! .... CNY And biggest dept is in ?? Get the stone to roll, and the USD starts rolling over and trumples down... |
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Everything here are just speculation. No one can really tell how much bitcoin will be worth in the future. It can go very high or it can go zero. What is important right now is, development of bitcoin. If development and adoption stops, then it can lose its value. If it adopts well, it can go very very high in value.
Yes it depends on demand and supply in the market. If the demand stops then automatically the value of bitcoin will drop. Now people are addicted to this bitcoin, so demand is so high that is why the price is increasing. Suppose in future people will addict to some other altcoins then surely the BTC price drop. Yep. And moving coins to exchanges is a bit hindered... Trend is up, why selling at all? Just to hit some 'top' thats taken out at the very next day? Nooooooo |
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Last bitcoin could be mined around 2140 thats about 120 years.
Assume same value per today but $ will inflate by 2% p.a. = halfes in value every 40 years.
So 3 times $ halfing makes at least
5000$ after 40 years
10000$ after 80
20k$ after 120 years.
Neglected here is adoption and inflation(actual 4%) + deflation ( loosing private keys) of bitcoin!
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There a some standard market risk calc papers (VaR - model based and probability distribution fitting) , that exactly 'predict' this by respect of the implied volatility we see.
It is possible - sure.
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Hmm, i didn't saw any discussion about BU not a singel time... BU is even more dead than i thought  Even Roger Ver is part of the coup attempt by miners WITH segwit. BU was a distraction and should be forgotten. It's totally irrelevant to this next round of clashes. I still like multiple also opposing efforts that are about to improve bitcoin and do not care about impl quality at first sight - otherwise you stay on old stuff for ever. The hardest task is to filter and merge - and here we need to have room for good old evolution - winner takes all. |
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Interesting but I smell a scam. You may have a legit link there but my spider sense tells me this could just as likely be some scam. Too many people fall for sites that look good but in the end steal their money. And with bitcoin it is even worse. People steal money all the time. I would be careful about this. It doesn’t really make much sense anyway, farmers wanting bitcoin.
It's driven by members of a German university - and was presented by a prime German TV docu - guess no scam. Bitcoin is also not accepted yet but it might fit into their concept... |
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Matt is correct, his going wouldn't have helped anything.
Yeah, but he might be wrong in his position about HF... |
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All the other disadvantages of a 2MB block I don't feel outweigh the potential increase in fee holding blockspace to pools. If the large storage and data transfer is an issue then there will be a natural attrition to the number of nodes but I doubt it will be as dramatic as the doomsayers have been saying.
atleast your admitting that people need to stop with the "gigabytes by midnight" fud Pruned node capability has largely offset the storage issue - consequently one running a pruned node which won't advertise the network bit has far less connections and less data transfer as well.
storage issues is not a problem.. 8 years of data can sit on a fingernail secondly prunned / no witness modes has more potential to reduce the full node count. because there would be less people with full archival data to sync from.. its much like bittorrents when you kill off a majority of torrent seed with full downloads and just have a cludge of people with only 10% of a datafile.. So back to the discussion - how do we get people to the negotiation table if both have taken an aggressive stance and core refuses to be seen as an entity?
id say stop with the half gestures crap.. and do a proper full job. -new fee priority low txsigops that doesnt increase 1merkle to avoid the tier cludgy and ensure peer network status allow all features that can only be implemented in a hard consensus. then a proper NODE and then POOL consensus.. none of this pool then UA crackpot back to front crap. then let the pools dip their toe in the water with a 1.000250 block and see if there is any orphan risk, and grow at a safe pace the pools find acceptable which wont kill off the nodes.. much like pools didnt just jump to 1mb of spam in 2010 even with the 1mb rule.. they instad held at 0.25 and only progressed when they were happy. once people stop reading the reddit FUD scripts to find excuses.. they can start thinking of idea's.. not excuses +++ |
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...The developers are paid by a lot of different universities and companies, and some are not paid by anyone (e.g. students)...
All "Bitcoin Core" developers are paid and "some [ contributors]are not paid by anyone". As I said, this is a significant distinction. Most people need a day job to pay their bills, yes. ... Noone get paid by a company called "Bitcoin Core"...
By that logic, the U.S. Marine Corps don't exist, because all Marines are paid by the U.S. Dept. of the Navy. Those are paid by a single employer to do a very specific job, commanded by one commander in chief. Try again. I very wish the devs would be payed in bitcoin only, than some actual tx issues were already fixed... |
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Is there already any substantial bootstrapping / success story happening?
Sorry could not really find that - but that tells me rather - nope.
Or might Shape Shift eat the lunch cause they have business and do 'just' expand a bit ?
They're working hard on all fronts, the technology and next releases, the market itself, regulations, business. I understand that it may seem quiet out of public perspective since I know that from my own experience whenever I follow projects I'm invested in (still my focus). But a simple fact is that it takes time to develop quality and especially the next big releases (that can be expected soon), Offchain and Ethereum-implementation, are big ones and need to be as perfect as possible. That's the reason why they test it and after testing it they test it more. What is also important: A lot of detail-work is often not visible at once, time consuming and wouldn't impress the public if announced - but it's really important. No real progress and quality without that. With other words: I understand that it sometimes may seem as if not much is happening but everybody who is invested and cares about this project can be sure that whenever he goes to bed, Lykke has made progress and is better than 24 hours before. Lykke never stands still and delivery is not an empty promise. Btw: All indicators show that Lykke gets significant increasing attention now. Number of KYC-processes is on a high, site traffic is, reddit-subscribers and activity, volume is increasing since some time, price is also nearly ATH (which was yesterday if I'm right and still above $0.2) etc. I believe that they are working hard , sure they do. Thing is: Top down dev might fail by hard if its done too away from clients needs or at wrong time... You need to show real live use case and develop / organic-growth from this - that is bottom up and might be successful. Yes, but exactly that is happening. And the team is also informed about what user wants, open for suggestions and also in touch with the community. And in comparison to some other projects with similar goals, Lykke is already practical useful and also user-friendly. There is a lot to improve of course, but I don't know of any similar project that would be ahead. And one fact always stays the same: Especially because Lykke is about developing real-life-use-cases for the financial market, high quality standards are crucial. And delivering quality still needs real time. We shouldn't forget that "Crypto-time" is highly distorted and more like "dog-years". ;-) I'm giving you / Lykke all the time you need ...  I just try to keep myself informed and I might meet some guys from Lykke soon to achieve exactly this here in Swissi - lets wait & see... |
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Is there already any substantial bootstrapping / success story happening?
Sorry could not really find that - but that tells me rather - nope.
Or might Shape Shift eat the lunch cause they have business and do 'just' expand a bit ?
They're working hard on all fronts, the technology and next releases, the market itself, regulations, business. I understand that it may seem quiet out of public perspective since I know that from my own experience whenever I follow projects I'm invested in (still my focus). But a simple fact is that it takes time to develop quality and especially the next big releases (that can be expected soon), Offchain and Ethereum-implementation, are big ones and need to be as perfect as possible. That's the reason why they test it and after testing it they test it more. What is also important: A lot of detail-work is often not visible at once, time consuming and wouldn't impress the public if announced - but it's really important. No real progress and quality without that. With other words: I understand that it sometimes may seem as if not much is happening but everybody who is invested and cares about this project can be sure that whenever he goes to bed, Lykke has made progress and is better than 24 hours before. Lykke never stands still and delivery is not an empty promise. Btw: All indicators show that Lykke gets significant increasing attention now. Number of KYC-processes is on a high, site traffic is, reddit-subscribers and activity, volume is increasing since some time, price is also nearly ATH (which was yesterday if I'm right and still above $0.2) etc. I believe that they are working hard , sure they do. Thing is: Top down dev might fail by hard if its done too away from clients needs or at wrong time... You need to show real live use case and develop / organic-growth from this - that is bottom up and might be successful. |
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everyone in cryptocurrency world knows that altcoins are where the big profit lies. but only a few have figured it out that the profit is only short term not long.
these altcoins have always been small time and controlled 100% by the whales and pumpers to generate massive amounts of profit for some and a huge amount of loss for the masses.
and the hashpower, security, or even having a virus in their wallet executable file does not matter at all. people are only trading these on exchange platforms to make money. and it makes perfect sense when you factor in the greediness and gullibility.
- replace profit -> volatility yes! |
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Cool idea - just found that and wonder if this is known. They are disruptive, give back power to farmers / seed producers and should accept BTC ! http://opensourceseeds.org/en |
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