Fees stop us from using Bitcoin as it was designed to be used but I have put a "Stop-loss" on BTC at $10,000
because if we rush for the doors then miners will charge $500 plus on transactions and the queues will be several
days long and they might even be forced to "Suspend Trading" as the call it on the LSE

I lie, it's $10,003  so I will be out before the panic ever starts if it comes to that which it will if fees are not sent back
down very rapid like

Not just new people but current holders who do not like what we are seeing regarding fees and
with fees being as high as they like then the danger is not so much a pump and dump but more
of a mafia lock-in

When you workout it's sinking and want out then how is that going to work with the miners charging
$500 per transaction on a system that can only manage seven transactions a second and whales offering
to pay much more.

Also noticed how Coinbase goes down when we have a spike in prices !!!

ass so let me answer yo

China needs to understand VPNs and a number of other ways to sneak data in under their noses
so they can slow it down in a cat and mouse game but unless they block all encrypted data then
us developers will find a way

Well me is not into mining, can not stand them myself as they play CPU-Wars but I had this wallet
I installed to give it a test using a type of wireshark program I wrote (Network packet sniffer) but
didn't get that far before I noticed it not only downloaded all the block headers but started to
download all the blocks, well it did until I stopped it so that's where I got em from

Windows (Spyware) version it was but PM me if you want to know who's wallet it was


This LevelDB thing is Key/Value and the index for the blocks uses to to address the blocks is loaded using LevelDB not that
I ever had a chance to play with the beast so I am not sure of the point you are trying to make here

Well thanks for that and you sound like you know what your talking about so I apologize for getting it wrong
See https://bitcoin.stackexchange.com/questions/51435/migration-from-berkeley-db-to-leveldb


See https://www.quora.com/How-is-Bitcoin-using-LevelDB

I think the confusion comes from the block-index and chainstate using LevelDB so thanks
for the correction and I was thinking why would anyone use key/value pair type DB on blocks
and should have back tracked sooner.

my chainstate files end with".ldb" and raw text in MANIFEST has "KšhÄß8...leveldb.BytewiseComparator..."
but i don't have any rev*.dat files to read but then again I did not get a full download of the data and
I dare not say where the data came from but i am out to parse more than just block for BTC so I needed
to swim in the raw


Top man you are and thanks 

In the beginning, like five years or more ago I would agree with you but that's not the game being played
out today because money and greed has taken over so lets look at a case history of ETH !

Ticking along fine, Crypto-Kitties went basaltic using ETH "Smart Contracts" and the network became
unusable so did the miners put the fees up via "Gas" to reduce load to silly prices or do they all work as
a team to deal with the problem that seems to have been resolved in no time.

Contrast this with Bitcoin as the development teams tries to hide behind "Consensus" and pretending they
are skinning LN out as Rome burns.

  

How does anyone find a hub if we don't have coordinators which is semi-centralized not that I object
but they should admit this instead of pretending otherwise.

Routing is fine, like relays on Tor network and these nodes don't hold private ledgers and therefore do not
need to settle accounts. Yes no trouble but now we get to banks/hubs that hold private ledgers "Off-Block"
and charge fees like in the little diagram I did you.

Lets deal with settlement of hubs as channels close please instead of going around the houses


I deal in facts, logic and reason and I provide links in a lot of cases plus I earn a good living in software
so maybe I have trouble talking to people that are slot-machine bandits, have vested interests and cannot
get the point across using "Facts, logic and reason"

BTC = 7
ETH = 15
IOTA = 100

ETH is nothing to write home about and it's data is growing at a very fast rate plus the miners
are kept under control by code or can be trusted because they didn't milk it too much when
Crypto-Kitties shoot the transaction rates up.

I like the more steady climb of ETH looking at the charts and I brought in on Ripple at
$2.77 (Super fast, mega low fees excluding 20 coins in wallet) but I am not too concerned
with my $1.00 loss per share but I am very concerned with my BTC gamble due to the fees
and failure of the development team to do anything about it.

I think you are right and it sort of compresses the block but not by using Gzip but moving some of the data
to what they call an "extended block" so maybe the files will look more like

BLK000001.dat
BET000001.dat

Here I am guessing but from a coding perspective it will make it more complicated having to read/parse two files
and will break existing code so I suspect I am missing something key here.

oh yes so next time I will use the number $30-55 to ensure I cover today fees up to the max we have seen

But if you owe money then you end up paying $30 tx fees to close the channel on top of fees to hub/bank
as settlement is done on BC so good incentive to people with money coming in but not going out. T&C for all I know
between client (me/You) and bank could prevent you passing the $30-55 fee on to the hub/bank and needs a deposit to
cover this situation.

I am not sure quite what you are saying here, competition between banks/hubs is what I think your
getting at so please clarify


No you are wrong and from your comment it is clear you did not watch it so save the speculation and lets deal in facts please.

Sorry but insults from you just pushes the point home that your line of thinking does not have any legs to stand on.

Ye old "Supply and demand argument" but if you know your history then you would know that when bread prices
rise above a certain level then you can expect riots and revolutions to take place.

Tell me from a technical perspective do you think that higher fees make number fly across the internet
faster or that we need 20,000 miners competing just to process seven transactions a second and from
a design point of view should we trust a development team who deals with a poor design of a network
by putting the price up instead of down or could it just be that they believe that they have a captive
audience and they can lock the doors via the miners working as bouncers on the doors.

The market will resolve the problem long before the bitcoin development team deals with the
miners in six months time and introduces a maximum fee of $1.50 so that 90% of miners leave and the
remaining miners can make a living from a fee for a system that can only process 7 transactions per second.

Fees up, price goes down and you can already see this if you look at the charts here.
https://bitinfocharts.com/comparison/transactionfees-btc-bch.html
Squint one eye and see the line above the zero reads less than $1.00 per transaction

Well fees peeking at $55 has resulted in a lost of trust between the development team and the public
so even when fees went down to $30 per transaction we can see that the price is dropping and
my guess is that lots of people are going to panic and want to leave when BTC goes below
$10,000 but unless they are going to pay the miners $500 per transaction to get out then
they will be in for a shock, locked in until the price hits the floor.

having a market where you think you can grab your winning and rush out the exit door is very
risky if logic dictates that this approach won't work and I am not making this up, it's based on maths and seven
transactions per second

Hold on a second !

Satoshi knew from day one that Bitcoin would not scale and the mining using CPU-Wars and Pow
would only lead to keeping Intel and AMD in profit by selling hardware to be wasted plus a waste
of energy to keep big oil happy

Fast forwards nine years and the bankers themselves want some exposure and Lightning Network
uses these things that they call hubs that hold a private balance sheet and charges fees, in other
words banks.



The same names keep always popping up and they all have something in common so we
sure that Satoshi is not a double agent because he is no hero in my book

Wow so I can play CPU-Wars with my array of 1080 GPU's with it's liquid cooled over clocked
chip and win a prize if my rig guesses the number of grains in the bucket of sand first.

I love this old game so my only question is if it's so profitable then why are you not doing it
yourself and now see the need to rent out the equipment 

Hey boss, got this software that works fine but it's based on how hot the CPU gets so can i have
that pay-rise please

Gold has been a store of wealth for 5,000 years and has a finite amount available and bit-coin with it's
many clones has an infinite amount of numbers to pick from and sub divide

No comparison to make here between the two and quantum computing will ensure all
the Bitcoins not cashed in will become worthless in about ten years time so poor boy Danny Tulip
only lived until the age of 19 and that's only going to happen if BTC fees are not reduced back
down to $0.50 like yesterday.

Kids today, what are they teaching them apart from how to not say anything in case the left
wing nazi's in power points the finger and mutter the words "Hate Speech"
 

Bitcoin cannot process more than 7 transactions per second so lets imagine for a second
that a big ship like the titanic hits a iceberg, prices flops down and everyone runs for the life rafts.

Well the sailor guys ordering the queues for those boarding the life rafts decides that instead
of saying woman and children first, he says who's got money on them can all go first because
room on the block chain is limited.

Now we have an auction going on by these miners and people are begging to get out and will be
quite happy to donate $500 per transaction to the well being of the miners to process a few bytes of
data for them on the block-chain that cannot be much good anyway or else the lightning network
would never go ahead since it keeps data "Off-Block" using Hubs.

Why I can even imagine being locked below decks on a sinking ship in order not to upset first
class paying passengers up top on the main deck.

Yep


The rich gets greedy and now they run a mining pool monopoly

See https://blockchain.info/pools because ten big names control 90% of transaction data


Not a chance in the world of this ever happening, open source does not happen like that
and I tried this approach with Firefox developers that have google spyware all over the
code but because google pays firefox $50m like its a charity your comments get blocked
and anything you do or say gets a black-ball.

We need consensus you see on changes in this democracy that we play no part in or else
my simple line of code would be adopted by everyone who's seen fees up and prices going
down.

public static money MaxFee=1.5 // 20,000 is far too many parasites need to process a mere 7 transactions a second


 

But Bitcoin had nine years to be perfected and they knew from day one that it would not scale so yes
lets give them more time if they say they need it but for our continued loyal support all they need to do
is add one line of code into Bitcoin core if they somehow forgot to add it before

public static money MaxFee =1.50 // 20,000 miners not needed when 1,000 is more than enough

Yes if market forces and not just a scam can fees up due a badly designed system that is slow then lets see market forces
removing most miners because we don't have that much cream on the cake to share around and CPU-Wars
between more and more miners is only keeping Intel, AMD and big oil rich so work that in to getting one
up on the bankers

Yes agree


Agree if your talking about using another type of alt-coin and you have much respect from me
but Lightning does not reduce fees much for normal use even if we get wallets that can use it
in say six months time and wait longer for Exodus or Jaxx to adopt it.

Bob does not want to buy a coffee a day from Alice for the next month but wants whats
been selling using BTC from day one, some skunk weed this month and Alice does not want
to hang around doing too many transactions in case the old bill come knocking

Please add hubs/banks into the process because we have already had the arguments about
BTC is only good for sending amounts over $1000 across the wire and now it's going to be
LN is good if you pretend that you don't use real fiat cash when out shopping and everyone
takes Bitcoins and are all connected to major hubs/banks

Amazing little devices for the price so are you talking about the block files being on the network (LAN)
or coming from a USB disk drive attached to the device ?

200gb from RJ45 would be slow and even USB3 D-Drive (thinks they do USB3) would be slow
so are you talking about plunging a SETA drive into a Raspberry here ?

Reading back down the BC for a current transaction to check all part coins history making up
the wallet without a major large index in memory would involve reading near 200gb of block files
so hats off to anyone that gets a full node working on one of these $40 devices.