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What do you mean "encrypt a BTC"? In bitcoin there if no such thing as a " bitcoin", there are only transactions and the outputs generated by transactions.
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Those fees will go to the people who own those payment channels and it is up to them whether to charge fees and how much to charge.
so whats stopping these "people" from turning thier utility of being an owner of a payment channel, into a legit business, thus making the owner a CEO of an LN channel, where the fees go to these "people" and not to miners because if there are no fee's to use LN internally then miners get nothing.. because there are no fees to hand them.. Fees from LN don't go to miners anyways. If the fees in payment channel hops becomes greater than normal transaction fees, then people will just use the good ol blockchain. |
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and move them to LN CEO.
rebuttle: There is no Lightning Network CEO. In fact, I don't think there are really any fees with Lightning if you use the payment channels.
debunk of rebuttle There may be some small fees if you do hops between channels because you have to pay the people you are hopping through.
wait, did the person rebuttling, just debunk himself.. in the same paragraph. so lets not call them LN CEO. lets call them Payment channel owners. (as i think thats what adamstgBit was insinuating. that the people who own the channels will profit. and it could become such a big business that they make it a business and become CEO's of said business the next question is who picks who these 'people' who own the channel get to be.. Sorry if I wasn't clear, what I meant to say was that there are two ways to use lightning, one of which has no fees, the other some. No fees are if there is a direct payment channel open between two parties. The fees are if there isn't a payment channel open between the two of parties and you have to route your payment through third parties. Those fees will go to the people who own those payment channels and it is up to them whether to charge fees and how much to charge. |
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The Lightning Network is a proposed payment channel layer for Bitcoin. Basically it allows for cheap transactions, typically small recurring payments, to occur. It is for scalability as it essentially can compress hundreds of transactions into one or two. For example, say for recurring micropayments from a faucet to you, normally, you may receive hundreds of these, and each one requires a specific fee. Instead with lightning, you will still have hundreds of transactions, just that when you want to use that Bitcoin, only one of those hundreds actually ends up on the Bitcoin network and in the blockchain, thus removing hundreds of transactions from the blockchain and saving both you and the faucet hundreds of transactions worth of fees. It essentially tracks balances between two parties. it will take all the fees generated by low value TX on each block, away from miners and move them to LN CEO.
There is no Lightning Network CEO. In fact, I don't think there are really any fees with Lightning if you use the payment channels. There may be some small fees if you do hops between channels because you have to pay the people you are hopping through. @adamstgBit I do not think that is true really. Maybe I am thinking wrong. If you think about it, you make a single small transaction normally and it gets added to a block with transactions from other users. That block is solved and the fees are split amongst the miners in whatever system that pool uses. That block may have multiple fees in it, but the reward is for the block, not the number of transactions within that block. So, if all of your transactions are saved up and then broadcast as a single transaction, then there is really no difference is the block reward. The only difference is that your transaction are in one block and not in several. Each block processed when it hit its number, 25. The block that held your first transaction still went off with the same reward, just filled with your 1 transaction and many others from other people. I am making this more complex than I meant. Now, correct me if I am wrong. There is a train and it will leave when 25 people are on it. That train will pay the conductor 10 dollars to leave the station. You have three people to transport and rather than paying a fee for each one, you wait until they all arrive and then ride on one train, one fee. The previous car left when it had 25 people and the conductor made his ten bucks. When all your people arrived you got on the next train and it left, ten bucks for the conductor. Still two trains, still 50 people moved and still twenty dollars total for the conductor. It did not matter whether your three were on one car or two cars. The ticket master(the exchange) got ripped off because you bought one ticket for three people instead of two, but not the conductor(mining pool). Am I right or wrong? No, you are wrong. What lightning does is it reduces however many transactions between you and another person to just two transactions. One transaction funds the payment channel, the other allows you to spend the results of the payment channel. The output transaction is a final state, the final balance of the parties after the channel is closed. Whatever happened in between the opening and closing of the channel doesn't matter and thus have no fees. The only fees paid are for only the two transactions that end up in the blockchain, no matter how many actually occurred in the channel. |
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The Lightning Network is a proposed payment channel layer for Bitcoin. Basically it allows for cheap transactions, typically small recurring payments, to occur. It is for scalability as it essentially can compress hundreds of transactions into one or two. For example, say for recurring micropayments from a faucet to you, normally, you may receive hundreds of these, and each one requires a specific fee. Instead with lightning, you will still have hundreds of transactions, just that when you want to use that Bitcoin, only one of those hundreds actually ends up on the Bitcoin network and in the blockchain, thus removing hundreds of transactions from the blockchain and saving both you and the faucet hundreds of transactions worth of fees. It essentially tracks balances between two parties. it will take all the fees generated by low value TX on each block, away from miners and move them to LN CEO.
There is no Lightning Network CEO. In fact, I don't think there are really any fees with Lightning if you use the payment channels. There may be some small fees if you do hops between channels because you have to pay the people you are hopping through. |
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Pruning is not done through the debug window, but rather the start up command. What you need to do is right click the shortcut to start Bitcoin Core and select properties. In the box that appears, add -prune=N to the end of the string in the box labeled "target". Make sure you have a space between what was already in that box and the prune option. |
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This isn't a first. I have also written an android app for the forum ( https://bitcointalk.org/index.php?topic=1195830.0) but I stopped working on it. Another user, elbandi, also created an android app ( https://bitcointalk.org/index.php?topic=327238.0) for the forum but that is also no longer being developed. The best thing that you can do right now is to publish all of the source code for the app so that users here can verify that the source does not contain any malware. Then you also need to make deterministic binaries so that we can verify that the binaries you published are actually built from the published source code. |
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1 scenario) transaction on new chain will not be valid transactions on old chain. Transactions on old chain will be valid transactions on new chain.
Well if participants on the altcoin had tainted their coins with some of the coins produced after the fork, then the transactions on the new chain would be invalid on the old chain. Any transaction that spent outputs created previous to the fork would be valid on the new chain. However any transaction that spent outputs created after the fork would not. 2) transactions on new chain will not be valid transactions on old chain. Transactions on old chain will not be valid transactions on new chain.
That is harder to do, in fact, I don't think it is possible. But you can completely separate into an altcoin by changing other parameters. Every coin has 4 "magic" bytes which identify the coin that the block or transaction belongs to. By changing the magic bytes, the blocks and transactions of one chain are ignored by the other, essentially separating the two networks. Also, to do a fork like this, you need to set checkpoints into the forked blockchain and when it does fork, it is easier if the forked part is an invalid block on the old blockchain. |
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and what the benefits to run a node under tor? Network need nodes like this. If yes i will setup my nodes to run under tor but i dont know if after that the slow relay will be good for the bitcoin network
Well for people who can't connect to the normal Bitcoin network due to censorship, running Bitcoin Core over Tor allows them to circumvent that censorship. With a hidden service, they can also receive incoming connections. Otherwise the connections over Tor are only outgoing connections. |
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just wondering if core creates another 100 address after 1st 100 are used or does it just generate them as required after that?
Actually it generates addresses as they are being used to maintain 100 unused addresses in reserve. So after you use one address, another one is generated so that there are still 100 remaining in reserve. After you have used one hundred addresses though, the backup that you previously made then is no longer valid since any further addresses were generated after your backup. |
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For security, I could create a system where after the purchase the private key gets sent to you via email. And we send the wallet address with QR code by mail. This could maybe work?
No. That makes no difference. There is no need to send the wallet address if someone is already getting the private key because the address is derived from the private key. The problem is that since you created the private key, you still have access to that private key and therefore can spend any Bitcoin associated with that private key. People have to trust you to not steal their money. |
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It is actually very simple now. First start up tor, then start Bitcoin Core with the -listenonion flag and -torpassword=<pass> flag where <pass> is your control port password if you have one set. In order to use it though, you will need to enable the control port in the torrc file. For clarification, by "now", he means Bitcoin Core 0.12. For earlier versions, you will need to configure Tor to run a hidden service. Instructions can be found here. For a Bitcoin node instead of a webserver, change HiddenServicePort to "8333 127.0.0.1:8333". Then, find your onion address in the hostname file, go into bitcoin.conf and add externalip=youraddress.onion, along with listen=1 (assuming Bitcoin is already configured to connect through Tor). It can take a while for new hidden services to show up on the Tor network, so be patient. Right, forgot to mention that. However, Bitcoin Core 0.12 will be released very soon. Probably within a day or two, so if you want to do it the easy way, just wait a little bit and wait for the official release. If you are impatient, you can download the binaries from my github at https://github.com/achow101/bitcoin/releases/tag/v0.12.0. Those were deterministically built so you can check the checksums at https://github.com/bitcoin/gitian.sigs under 0.12.0 and check that the downloaded file's hash matches the signed hashes of all of the people who have done gitian builds. |
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Can you write a program to identify all those posts and exclude them in the post or the activity count?
If could do that I wouldn't be moderating, I would be working on the next google. Well for somethings like bumps and +1's it is fairly trivial. But other stuff like asking questions with no intention of buying, that is harder to determine. That sounds like something I could write the logic for, but in.... English. Maybe the guy who wrote the account value estimator could write something which pings an admin if an account checked with his service meets to many low post quality criteria https://bitcointalk.org/index.php?topic=1142314.0. Why? |
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It is actually very simple now. First start up tor, then start Bitcoin Core with the -listenonion flag and -torpassword=<pass> flag where <pass> is your control port password if you have one set. In order to use it though, you will need to enable the control port in the torrc file. Thanks for your reply. I will give this a shot for the BTC onion node. Just one more thing though, is it necessary to leave Tor open for this to work or is it safe to close it after running Bitcoin Core?  I think it needs to be left open as it uses Tor for doing Tor stuff. |
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It is actually very simple now. First start up tor, then start Bitcoin Core with the -listenonion flag and -torpassword=<pass> flag where <pass> is your control port password if you have one set. In order to use it though, you will need to enable the control port in the torrc file. |
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I am currently running a node and noticed that i have 28 connections inbound and 8 outbound. The question is regarding the 8 outbound should that be higher or is that some sort of set limit? it never goes above 8 outbound connections.
Yes there is some sort of limits on it as far as I know , and you can see here for more info about it : https://bitcointalk.org/index.php?topic=74275.0There is indeed a limit of 8 outbound connections. That number is hard coded into the Bitcoin Core software, you can never make more than 8 outbound connections. There is also a limit on the total number of connections you can possibly have. It is limited to 125 connections by default but that can be configured to however you like. |
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That IS the transaction that happened. The way a transaction works is that it takes inputs (outputs from another transaction) and it creates outputs. Technically there is no such thing as sending bitcoin to an address, technically there is no such thing as an address. That means that in this one transaction, one input was spent and it created several outputs which can also be spent. They are all part of the same transaction. |
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I know core has already got custom fees, but also I think there should be a thing where it fetches some info from a website and then it changes its recommended fees to suit the current market...
Why should core check a third party website for the fees? It already has its fee estimating, and if you actually have it run as it is supposed to, I think it is fairly accurate. In order for it to be accurate, you need to let Bitcoin core run for a while so that it receives enough blocks to do an accurate estimate. And also - it should show you the calculated fee BEFORE you click SEND.
It does show you the recommended fee/kB. If you use the coin control feature, then I think it will also tell you how much you should expect to pay in fees. |
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You should consider making any post with a Sig Campaign not count towards activity.
~BCX~
That isn't actually possible. You can't distinguish between when a user had a sig on or not and whether that sig is a campaign or not without going in and manually doing stuff. |
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