The long debate over the bitcoin block size is over. The updates being done to the bitcoin code have been published by the core developer Gavin Andresen on GitHub. The block size will change from 1MB to 8MB, with further doubling every two years – so in 2018, it will reach 16 MB, then 32MB in 2020 and so on.
2016: 8 MB
2018: 16 MB
2020: 32 MB
2022: 64 MB
2024: 128 MB
2026: 256MB
2028: 512 MB
2030: 1024 MB
2032: 2048 MB
2034: 4096 MB
Personally I believe that this well overestimating the rate internet connection-speeds and hard-disk space will grow. Just look at ADSL or even cable for instance.
4096mb per 10minutes in a year will grow to: 205TB per year worth of storage.
I wonder if they took in account the laws of physics in this equation. It is not impossible but who can and will pay for such an investment just to be a unpaid bitcoin client (full node).
The part that bugs me about that schedule of growth is that it may work in the West especially if the internet of things picks up and bandwidth becomes even more valuable but it surely will not be anywhere near as fast elsewhere it causes a huge US centered node base for Bitcoin with Japan in Asia and any opportunities for catching up bandwidth wise is unlikely with 2 year interval increases. A global increase rate would probably be 1/3rd of that over the same duration 2016: 8 MB --> 2.7 MB 2018: 16 MB --> 5.3 MB 2020: 32 MB --> 10.6 MB 2022: 64 MB --> 21.3 MB 2024: 128 MB --> 42.6 MB 2026: 256MB --> 85.3 MB 2028: 512 MB --> 170.7 MB 2030: 1024 MB --> 341.3 MB 2032: 2048 MB --> 682.7 MB 2034: 4096 MB --> 1365.3 MB --> In 2033 Global speeds will finally reach the 1GB level At least that's how I see it who will want to run a full node without Proof Of Stake makes me wonder if an incentive would have made sense retroactively as it does seem like a weakness. |
|
|
|
Hoe much costs a house in venezuela? How much dollat will a hooker cost? Lol, i am curious about that, t That people are so cheap in such countries  I had the same question the standard third world quality house (Call them the standard house myself as you see them a lot around the world is $25,000) The modernized houses were used to are roughly x10 or $250,000 http://www.viviun.com/Real_Estate/Venezuela/$24,000 Obo. http://www.viviun.com/AD-204588/Category: Single Family Homes Address: Calle Guaicaipuro S/N Urb. Vista Al Mar Puerto Piritu Anzoategui 3866 Venezuela For Sale By: Owner Construction Year: 1990 Area: 120 m2 Bedrooms: 3 Bathrooms: 2 Sleeps: n/a Stories: n/a Parking Spaces: 3  $249,000 Obo. http://www.viviun.com/AD-205552/Single Family Homes Address: La Mira Margarita Island, Playa El Agua Nueva Esparta Venezuela For Sale By: Owner Construction Year: 1999 Area: 350 m2 Bedrooms: 4 Bathrooms: 4 Sleeps: 10 Stories: 2 Parking Spaces: 4  Now add a 0 to both and ha-ha you got Westernized World Prices XD $250,000 for the standard house 2.5 million for that villa  |
|
|
|
...
bolivarcoin
Please keep us up to date with BTC and Venezuela!
I have read numerous times that something similar (perhaps further along) is happening in Argentina too. I know two relatively rich Argentines who go there fairly often and are both into BTC. Yes, they live well when there.
There would likely be a lot of interesting ways to "play the arbitrage" between BTC, the Venezuelan Bolivar and the US$.
Alas I doubt they would allow short plays that would be some crazy price speculation With the China news and trading relationships with Venezuela oil prices might move due to the rich resources they have but resource curse aside Bitcoin definitely can come in useful there. http://www.bloomberg.com/news/articles/2015-08-10/ravaged-by-oil-s-collapse-venezuela-now-has-a-big-gold-problemIt does suck though that golds pawning them as well (someones likely manipulating those prices after a lot of countries demanded withdrawals ah the realm of international politics is dirty) but if there was a great case to be made for Bitcoin adoption it would be good to see it get rolled out here. http://blogs.reuters.com/great-debate/2013/03/13/what-will-become-of-chavezs-gold-hoard/ |
|
|
|
Thanks it was an interesting read and it sounds like a pretty cool place to visit for price value gas is really subsidized there but crappy to live in. I handed over a single hundred dollar bill and began the laborious task of tying up notes with elastic bands. I had well over 1000 notes to count. I had been in Venezuela just 24 hours and already I was a millionaire here. For a single US dollar ($1.31) I could buy 12 beers, get a bed for the night, take two taxis or eat in a nice restaurant. I could fill up a car at a local gas-station for 2 bolivars, around 1 US cent. “If you have dollars, you can live very well for just $50 a week,” he said. “Without dollars, life in Venezuela is too expensive and it’s impossible to get basics, even a toilet roll has to be bought on the black market!” (In sig campaign terms just had to say it that equals a bed a night for a Hero member 0.16 *270 = 43.20 US) 31 Days of Sleep and 2.59 to spare for food in a month without a 0.02 avatar add-on neat. (Sort of cynical way of looking at purchasing power)  |
|
|
|
But you still have to spend the same ratio as the amount's worth...you can't just convert into their currency, come back, and be rich  Assuming the official rate its a wad worth 600 BF assuming extraoficcial $70,000 BF at 100 USD Or 72 BF official and 8400 BF. So its a pretty big difference in that conversion ratio if its only worth $12 USD and will tell me the assumed rate of that wad of cash This is why Venezuela will be the first country to adopt a virtual currency.
0.37 Bitcoins o almost 12 Us$
>>>>  >>>> I must have read that wrong somehow 0.37 Bitcoins does not equal $12 US 0.37 Bitcoins = $100 US (@270 US/ BTC) That or the conversion rate is that bad which would be something else. Sorry, i made a mistake when posting, ITS 0.037 BITCOINS, 12 us$ HALF OF MINIMUN WAGE Thanks that makes a lot more sense in that case that is one heck of a large wad of paper to equal $12 US (Wonders if you pay with a plastic wrapped wad in the store for stuff) |
|
|
|
Im pretty sure the op, got the price value wrong, but seeing the picture he probably meant $120?
Which is what they earn half a months wage which is still a lot to them.
I thought that initially as well but then checked a backpost in his history to correlate it He said the minimum wage is $20 dollars a month so he really meant $12 why I rose a bunch of question marks on this statement.
Hi boutiuqe, I was born in Venezuela but i live overseas, Yes, about 100 of the users that already mined some coins are from Venezuela, the rest from other countries.
The minimum wage is only 20$ a month.
There are 4 official currency exchange and one extraoficcial, official is: 1$ - 6Bf, extraoficcial 1$ - 700Bf. No one has access to the oficial exchange rate.
So the question is, is a virtual currency in Venezuela help the economy and his citizens?
The answer is yes, and we all know why, no one can control it, anyone can mine it, storage, sell or buy it, create new business, exchange for whatever, etc, etc.
|
|
|
|
This is why Venezuela will be the first country to adopt a virtual currency.
0.37 Bitcoins o almost 12 Us$
>>>> >>>> I must have read that wrong somehow 0.37 Bitcoins does not equal $12 US 0.37 Bitcoins = $100 US (@270 US/ BTC) That or the conversion rate is that bad which would be something else. |
|
|
|
The message about not being Dorian was posted on a compromised account
I thought so. but don't you think it's odd that whoever it was in control of that account didn't make any additional comment? like lying about this and that. That is exactly what I was wondering about, he could've manipulated the price quite a bit in the first hours that rumours start to spread. Or the account was blocked very soon after that comment and he never had a chance. The fun logical extension is that Satoshi hacked his own account to appear to be non-existent but obviously knew the password the whole time and used the long way to get in |
|
|
|
'
and if someone goes travelling around the world by boat for 5 years... and they come back 5 years after 'their' chain has been abandoned? Would the average postman or butcher's wife know what to do?
5 Years later wiki would have all the information on what happened Then a google search (It would likely be a tutorial on how to move your wallet to the new system on a website by then  ) |
|
|
|
Seems like he got lucky with the number 0.  So, basically he won ~10 BTC worth of CLAMS which is around ~$2.7k! A bit more than that actually 331*0.1= 33.1 Clams Won 989.9 Total + 956.8 * 0.012 (Polo) = 11.4816 BTC * 270 = $3100 USD Being nitpicky but ha-ha good stuff Could of won 98999.9 CLAM.
That's what makes Just-dice so much different than a slot machine. On a slot machine a person is never going for that 1 in 990000 chance hit. Just-Dice you have to have someone who is walking in there with "I'm either going to hit it or fuck it" attitude.
That would be the day the investors died ha-ha |
|
|
|
Question 1 : No
Question 2: During the transition period if both are used at the same time only pre-fork coins though.
again, sorry for those questions. but i am neither a mathematician nor a programmer so some of the more technical aspects of BTC are to confusing for me..
2 questions: - i keep the majority of my BTC on my trezor wallet. do i need to do anything in case BTC forks? -No your coins will exist pre-and post fork its only new coins created after Bitcoin Core or XT separate that would be affected - additionally, my my parents bought some BTC because i am told them too invest a little bit and they keep it in a armory wallet. do they need to do anything? No as well their coins still exist pre and post fork last question: some people in other threads mentioned that one could double their BTC if they switch to XT. is that correct? and if yes, is this doubling only for the people that switch at the beginning and people that don't switch immediately loose out on this opportunity? or will the amount of BTC double when the majority decide to fork? if i/we need to do something, how can someone using trezor and/or armory make this happend? If some exchanges accept QT coins while others take XT coins Your coins would be valid on both blockchains since they are before the forking occured and would trade with value until consensus is reached and one chain is abandoned. |
|
|
|
|
Not for Bitcoin directly but perhaps for a low energy side-chain to communicate with other phones like a mesh network.
But that is development that will happen sometime a bit far out in the future.
|
|
|
|
|
Voted for a less popular option since it's more complex but Adam Backs idea of sidechains as an extension of the Bitcoin infrastructure seems like the best long term solution to the problem as it addresses size issues and bandwidth capacity until the technology picks up, combined with a Pieter Wullies idea in the short term for incremental blocksize increases programmed into Bitcoin to ensure that Blocksize is Dynamic and adjusts relative to the capacity the network needs at any time, whether incremental increases can be set up this way would require a D@T discussion.
Else go back to Blockchain compression.
That said I can see Gavins idea of increasing the size to 8MB then implementing sidechains steadily over time to further enhance Bitcoin's capability and options as a viable idea as well but not an 8GB blockchain in the near future.
|
|
|
|
california is just too expensive to live.
the rent cost for a average area is $1,300- almost 2,000 depending on how many rooms. The living expense also is not the same, some people actually are forced to go to soup kitchens to pick up extra food.
Since they dont entirely qualify for ebt cards aka food stamps.
so I think living in California wouldn't be easy for all who have to rent out unless they already own a house there so they could ease up a bit regarding the $1,300- almost 2,000 you mentioned It soo expensive, in Indonesia you can rent a room, with only $ 400 per year, it was very cheap are you serious? Dude, do you know if i could move to indonesia?  Here in philippines you can rent a room with only 0.1 btc per month, and its only 1.2btc per year, so cheap than indonesia so you can went here and rent a room. LOL what kind of room we are talking about? those room with cockroaches and all sort of unimaginable animal inside it, without hot water and so on? and anyway i should also love the place first of all before even bothering at looking at the price...substantially one can live with $500 per month(with renting or akin stuff) if he is alone and does not expect too much from his life Such a room is at least $400 dollars per month here in Canada, Amph. And you're looking at at least $10/day for food if you don't eat a lot and eat cheap stuff. So that's at least $700/month, assuming you don't buy shampoo, toilet paper, clothing and stuff like that. In Canada it makes sense to buy a cheap car for a $1000 dollars and just chill in it in the summer and save money for winter or move down to the US, as it adds a lot of cost to the rent here, for food it would depend but $10/day sounds about right if you don't want to just eat artisan bread for a dollar and a $1 drink at Mcdonalds and a dollar store pack of cookies all the time. But yep in generally poorer areas of the world 0.1 might just be on the low end of a rooms rent range. |
|
|
|
Check this bet out. "dental" was aiming for the 10,000 to 1 shot, and hit it on his 331st attempt:  He won ~1000 CLAMs for a 0.1 CLAM stake. Wow that is a great payday congrats to dental on his winnings 0.00 is a really hard to get target. |
|
|
|
This campaign is open once again! All current participants will be paid out later today for their limbo days, so remember to get your required number of posts in! Payments should be sent in 8-12 hours or so.
Also, all participants please update signatures and read through the rules of the campaign once again. I'll be sending out friendly reminders in the next couple days if signatures aren't updated.
Continuing in this campaign and updating the Signature if their are still slots available if not it was a pleasure. Bitcoin Address: 1K1WUEbAhsR3D9GAeW5G3ALSVMkYLr68ve Current Post Count: 3104 Current Rank: Hero Member Yep, you're slotted in for the partial payment due for later today. Check the spreadsheet to see how many posts you need to make. Thanks for the quick reply didn't notice I was in limbo ha-ha Will get right on it |
|
|
|
This campaign is open once again! All current participants will be paid out later today for their limbo days, so remember to get your required number of posts in! Payments should be sent in 8-12 hours or so.
Also, all participants please update signatures and read through the rules of the campaign once again. I'll be sending out friendly reminders in the next couple days if signatures aren't updated.
Continuing in this campaign and updating the Signature if their are still slots available if not it was a pleasure. Bitcoin Address: 1K1WUEbAhsR3D9GAeW5G3ALSVMkYLr68ve Current Post Count: 3104 Current Rank: Hero Member |
|
|
|
|
As theymos wrote it would be concerning to see a fork without consensus especially if its between miners and services.
Whether discussion could have been moved to it's own section for XT and core or treated as an Alt-coin depends on your viewpoint but its in the purview of the admin to decide.
In my opinion XT was going to be superceded by another solution in the future but the discussion and debate has ended in more/less a loop with developers pretty much in fixed positions for now.
In the end the economy will decide what will occur one way or the other, or it will be a community fork in the worst case but for now all we can do is wait and let the issues resolve themselves.
|
|
|
|
Smart homes are going to be interesting in the future one break or leak in the network and the escalation of privileges could be used to activate or disarm the security system lock doors, or acquire true stalkers (hacked into the house network and see what everyone does in there) For now I kind of thought the name of the virus should be thunderstruck #1 but I might be alone on that one ha-ha AC/DC. (Speaking of Apple theirs enough money to be made so mac's will be attacked more often in my opinion especially in the case of smart homes where it will be MS/Android/Apple etc.) |
|
|
|
Well, good for you. I don't think any sane brain would switch from the greatest technology to a random fork/altcoin.
I don't think it should be called an altcoin because it is still based from the existing bitcoin code, just added some few codes on it to enlarge the block size limit to 8mb. It's been around for months now and the discussions are happening here and there. Many big pools are pushing for it too, and I don't see it happening to a random fork/altcoin yet. It's technically an alt-coin as long as its using the main chain of Bitcoin until it gets consensus status That said your right that it's more along the lines of a Bitcoin-related fork in my opinion but a new section for Bitcoin-XT was not made so guess Theymos had no choice but to regulate to alt-coins or see a wall of this discussion in Bitcoin. |
|
|
|
|
Show Posts
