I think it is bubble. But after breaking bubble, the real demand of crypt currency appeared. Its gonna be stable or increased little by little. And competition of crypt currency will be more intense.
Yes but have you spotted the other train coming our way that's not due in at the station for about 3-5 years ? I would tell you more but I've not booked my seat on the train yet
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I would say it is quite obvious bitcoin is not a bubble, bitcoin has been going strong for almost a decade now, that's an unusually long lasting bubble, even the dotcom bubble didn't last anywhere near that long. Bitcoin still has massive room for growth, with 100x growth still feasible, as clearly less than 100th of the population use bitcoin. I would say bitcoin is more like early currency, it will grow, it will expand, and its utility will increase as more use cases are discovered. Bitcoin will not pop any time soon, it is still in its infancy.
Tulip Mania lasted this long and no one knew about bitcoin four years ago hardly and as usual your only seeing what you want to see whilst trying to not think about the core network which will not scale like other better networks that are now catching up on the early start Bitcoin got. Old costly and slow will be replace by fast and cheap and is natural evolution which is bound to upset the OAP's in crypto world
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Andreas here said that there are no incentive to become a huge hub because you must keep your private keys with a lot of fund exposed. https://www.youtube.com/watch?v=D-nKuInDq6gthen he said (min 8:28) that LN tends to rebalance with some tecniques, if use route just in 1 direction and your balance is gone, then ln tends to rebalance using route in opposite direction. seems that ln automatically open new channel. Someone can explain me this better? Yes banker hubs will sort of balance out because money flows backwards and forwards in both directions and they have huge amounts of BTC in the ledgers that becomes very liquid unlike me and you who's just have flows going out See the network map https://lnmainnet.gaben.win/This is not mamma and papa banking like they were trying to make out and just now the sub-branch, main branch banks are getting setup ready for fee paying customers
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How to create a keypair on the secp256k1 curve
Well I downloaded C# code "secp256k1.Core" but messageSigner.Verify(signedMessage); always returns false from the test code so I gave in trying to see what went wrong and started to roll my own https://bitcointalk.org/index.php?topic=2849443.0RSACryptoServiceProvider that comes with windows is not to be trusted I don't think EDIT to addI found the bug in secp256k1 that stopped the signature from Verifying and you just need to change the code in MessageSignerVerifier from var signedMessage = new SignedMessage(message, publicKey.GetBitcoinAddress(), signatureBytes); to var signedMessage = new SignedMessage(message, publicKey.GetBitcoinAddress(false), signatureBytes); The project will work from VS.2010 on framework 4 if you copy the .cs files to a new C#.dll project if anyone is interested
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I am using Microsoft Windows RSACryptoServiceProvider just to generate the keys for now but it also calculates the Exponent at the same time and I want to cut RSACryptoServiceProvider out of the loop so I am doing encryption/decryption with BigInt which I have got working just fine. strange thing is the keys keep changing with RSACryptoServiceProvider but the Exponent always stays as "AQAB" on a 512 bit key and unless you set PersistKeyInCsp = false; then the key pairs get saved by spy-master general so basically just don't trust Microsoft one bit here The code I use for now in C# to create keys/Exponent is shown below RSACryptoServiceProvider rsa = new RSACryptoServiceProvider(512); // Key bits length rsa.PersistKeyInCsp = false; RSAParameters RParams = rsa.ExportParameters(true); this.PublicAddress = Convert.ToBase64String(RParams.Modulus); this.PrivateAddress = Convert.ToBase64String(RParams.D); this.Exponent = Convert.ToBase64String(RParams.Exponent); this.KeySize = rsa.KeySize; Later I want to generate my own key pairs and compress the size of the public key down without using a million lines of code
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Again the OP comes to my rescue because I need something like a four party transaction with two stage commit on the data and was going to ask if anyone knew the answer before trying to roll my own.
In my case it's a little more complicate because three of the parties are clusters used for redundancy Ledger one (2-10) nodes Ledger Two (2-10) nodes Coordinators (10-50) nodes Manager (1) node
All have public keys and the Coordinators could generate a on-the-fly public/private key pair just for the transaction if needs be so yes thanks again OP
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How could satoshi nakamoto have known this maasive scalability might hit bitcoin? Dont forget that bitcoin was the first and foremost cryptocurrency, and other coins have only tried to perfect themselves only based on limitations of bitcoin and learning from it. If bitcoin had not been there
The master of deception brought us the block-chain but also CPU-Wars for mining and then the development team spent years making everything complicated and now we are at a stage where we have 20,000 miners trying to synchronize 200gb of data and fees hitting silly levels as a way to deal with scaling of the block that they knew from day one would not scale. "would not be these better solutions we are seeing now either" We are seeing much better solutions and they are gaining ground on Bitcoin and will do 25,000 per second on-block apparently without introducing banking hubs like is happening with the Lightning network. Mr satoshi nakamoto solved one problem and gave us ten more and he forgot the missing link that I believe that I have found but here is not the place to go into detail or any tom, dick or harry will say that they came up with it first. The mans a legend because it is a legend and he looks like double crossing CIA agent to me for the reasons that I have listed.
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Bitcoin was like that, fast and free whilst being used by developers and students but then look what happened with fees so good luck if you think banking hubs will keep it like that because history tells me they won't
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They are just setting inter-bank connections and testing it just now on Lightning before the general public can use it or it won't work unless you want to open a channel to all the people you send BTC to and you can see for yourself whats going on with this network map https://lnmainnet.gaben.win/Miners have become bankers because they have the hardware, knowledge and BTC to finance the channels and we know the development team gives them what ever they want anyway. Banks are bad so here have as many as you want and why not run a ICO and have your own currency whilst you are about it.
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It is an indispensable supplement in the system of small transactions and high-frequency concurrent transactions. Lightning network micropayment space will also become larger and larger. In addition to solving the extensibility, the lightning network can also solve the privacy problem, after all, not everyone's transaction is suitable to be exposed in the main chain. That's one of the good things about it.
Are you sure your not being paid to say this ? I look at the advert in your footer and it mentions block-chain and Lightning is "off-block" using a system of private ledgers and banking hubs so looks like you want to have your cake and eat it.
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Well I was warning people that Lightning was not Bob and Alice banking and looking at this network diagram you can see that I was right all along. https://lnmainnet.gaben.win/Please digest what you can from official white paper and search for the word "Fee" or "Spending account" and "Savings account" if you're being lazy. Here better still watch the movie https://www.youtube.com/watch?v=UYHFrf5ci_g
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"What could go wrong with Bitcoin?"
1. Become a Tulip bubble 2. Bankers pump en dump 3. Fees go stupid 4. Won't scale as it has been designed wrong and is not DNA 5. Banking is built into the network to charge interest on moving money 6. Speed is slow, errors always blamed on other people (See unallocated transaction lists)
Well I have six ticks in my boxes without even trying.
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I think it's live on mainnet and here is a map of all the banker hubs getting connected ready to start running a banking service or did you think that something that has terms and conditions, charges Tx fees and interest was not a bank !!! https://lnmainnet.gaben.win/Don't worry they will keep fees low these bankers will whilst they try to suck people in but this was not part of the original plan and if block-chain brought you to Bitcoin then private off-chain ledgers should send you away. Other coins not based on Bitcoin can scale, keep transactions on-block and the Tx fees are next to nothing and do save the bull about LN saving fees because they were only $0.10 a year ago and we have been treated to problem-reaction-solution and I'm not buying it.
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Transaction fee on Bitcoin going from $0.10 a year ago to peek at $55 makes it look like a scam and take a deep peek under the cover of the Lightning Network to discover banking hubs coming our way that charge Tx fees and interest Does this current network diagram look like mamma and papa banking to you https://lnmainnet.gaben.win/if you liked block-chain then you won't like the Lightning Network, it's that simple
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Fantastic we have a discussion to earn brown nose points so we can all be running add campaigns in our footers of the comments we make here.
Now just imagine if we could trade these merits ...... err..... wait.........one second, Yes new ICO of B-Nose coins
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The OP is in danger of thinking for himself too much and this dangerous criminal should be reported to the police. Reducing fees paid to miners will only do them out of a wage and think of the starving kids Lets charge fees on bits instead of bytes because it sound much better along side the name Bitcoin don't you think. With the example above, a fee is only paid once, and the funds are transferred straight to the merchant which means that in all stages, either the customer or the merchant own the funds - never the IPN provider - a P2P IPN. Bitcoin was never P2P banking but they are trying to sell it as that but even if I my wallet was connected to yours without doing broadcasts and we managed to swap ownership somehow then they have us beat with the block-chain Cleaver they are and all the mistakes so far could well be deliberate but every dog has it's day so maybe we can cut the middleman out (Lightning banker network) and find the weak point if we don't stop these criminals then someone will come up with a coin in a new ICO that is designed to short Bitcoins price but forget you heard it from me or that you would had made a fortune in the last month.
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except of course if Satoshi was just a sock puppet of Hal Finney and didn't understand zilch himself of this stuff.
You cannot talk about our great leader like that because without him we would not have mining coins using CPU-Wars so that "Big oil" sells more to big electric corporations and where would Intel and AMD be today with out all that wasted processing power. I mean Satoshi developed a system so unemployed miners could become full nodes and provide transactions services so they could pretend the current "Block" is so valuable that people are willing to pay $20 or more just to have 250 bytes of data written to it. No sir you fail to understand Satoshi contribution to the world where 20,000 miners do PoW (Waste more CPU power) and seek to put men out of jobs (Like 95% of miners) and should seek redemption and "Buy on the dip" because your blasphemy endangers the maga-carter or was that the word word here It simply doesn't fit together. More than just me and you have started to work it out and if you take an objective look at the lighting Network then the long term goal become obvious that bankers own the Bitcoin network and want a bigger cut of the profit
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oh dear another unhappy customer but i wonder who he's upset with and does he want me to call him !
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The Lightening Network basically is an offline scalibility solution for bitcoin. With it, you and your partner can do frequent, micro payment in a fast way and a lower fee via state channels. Bitcoin main chain only needs to record the beginning state and final state of the channels.
No you and your partner can do big payments and play ping-pong for months on end and get the cost down to $0.00001 per transaction if you like but in the real world the network looks like this https://lnmainnet.gaben.win/ so we have Tx fees on five hubs and micro interest payments to contend with and they will all be summed up and past on to you and your long distance partner who likes cash to buy her hand bags with anyway. Tell me you're not one of the miners are you because in my book they come a poor second to slot machine players and only slightly up on the mystical creatures known around here as Whales Here I recommend you watch this https://www.youtube.com/watch?v=UYHFrf5ci_gbecause it seems like you have only watch this part so far. https://www.youtube.com/watch?v=rrr_zPmEiMEbut if you want middle of the road then watch the long version https://www.youtube.com/watch?v=MpfvhiqFw7Aand stay to the end where he calls the big hubs banks too.
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