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1  Bitcoin / Bitcoin Discussion / Re: Konrad S. Graf finally weighs in on the Bitcoin block size debate on: May 04, 2016, 05:38:00 PM
So Bitcoin.com just published an interview with Konrad S. Graf (https://news.bitcoin.com/konrad-graf-bitcoin-block-size-economy/). He's very well respected in this community for his economic/historical work on the origin of Bitcoin's value, so I think his views on the block size are important. Apparently, he views the 1 MB limit as something similar to a government-mandated output ceiling, and that it disrupts a block size 'free market,' so to speak. What do you guys think?

The potential for abuse without a block-size limit is too high, if the block size limit is removed, then it will be the end of all chains that adopted the removal.

...

Did you read the article? He doesn't advocate for removal of the block size limit. He does seem in favor of keeping the limit well above the average block size, whether by a series of hard forks or a dynamically adjusting block size limit, but he doesn't really take a strong position one way or another. He does briefly discuss what he thinks would happen in the absence of a block size limit on the last page, but I certainly wouldn't say he's pushing for it.

If you didn't read, I would recommend checking it out - I think he presents some nuanced and logical arguments about what is happening and could happen under different scenarios.

No, I barely skimmed the title.

My comments are speaking about block size removal in general, as that is the pertinent issue on peoples minds with this whole Craig Wright fiasco.

The issue at hand is that Gavin's BIP101 proposal had an absolutely absurd block size limit of 8MB which doubled every two years to 8GB near the end of its term, and I want people to realize that this is essentially the same as removing the block size limit all together.

I was not making any comments on his specific opinion if that is what you thought.

You should definitely give it a read when you get the chance.
2  Bitcoin / Bitcoin Discussion / Re: Konrad S. Graf finally weighs in on the Bitcoin block size debate on: May 04, 2016, 05:15:07 PM
Why does everybody keep focusing on the blocksize issue, when the real issue is block generation frequenc?,. Is it just that blocksize is an apparently trivial change that everybody can understand, but they don't appreciate the broader implications such as possible mining centralisation.

I think a lot of people would argue that mining centralization is caused by economies of scale found in the bitcoin mining industry and wouldn't be affected much in either direction by any change (or lack thereof) in the block size.
3  Bitcoin / Bitcoin Discussion / Re: Konrad S. Graf finally weighs in on the Bitcoin block size debate on: May 04, 2016, 05:06:32 PM
The potential for abuse without a block-size limit is too high, if the block size limit is removed, then it will be the end of all chains that adopted the removal.
Correct. This would only work if all participants of the system were honest and mean no harm. This is obviously not the case with Bitcoin as it keeps being attacked via various methods (FUD campaigns, spam, TX spam, etc.)

It is however, far too early for this to happen. What is needed right now is a dynamic block size limit, that expands using a predictive model of the same function which models the minimum increase in network bandwidth over time around the world.
There was talk about this being implemented at a later point. However, one has to set up very good 'limitations' so that the dynamic block size limit can't (hopefully) be abused in any way.

What do you think would be "good limitations"?
4  Bitcoin / Bitcoin Discussion / Re: Konrad S. Graf finally weighs in on the Bitcoin block size debate on: May 04, 2016, 04:45:24 PM
So Bitcoin.com just published an interview with Konrad S. Graf (https://news.bitcoin.com/konrad-graf-bitcoin-block-size-economy/). He's very well respected in this community for his economic/historical work on the origin of Bitcoin's value, so I think his views on the block size are important. Apparently, he views the 1 MB limit as something similar to a government-mandated output ceiling, and that it disrupts a block size 'free market,' so to speak. What do you guys think?

The potential for abuse without a block-size limit is too high, if the block size limit is removed, then it will be the end of all chains that adopted the removal.

It is possible, in a system whereby there are billions/trillions of clients or more, to remove the block size limits, and simply let non-full node clients connect to whatever is the most popular network out there, and this may have been Satoshi's final intent.

It is however, far too early for this to happen. What is needed right now is a dynamic block size limit, that expands using a predictive model of the same function which models the minimum increase in network bandwidth over time around the world.

Good points.
5  Bitcoin / Bitcoin Discussion / Konrad S. Graf finally weighs in on the Bitcoin block size debate on: May 04, 2016, 04:36:29 PM
So Bitcoin.com just published an interview with Konrad S. Graf (https://news.bitcoin.com/konrad-graf-bitcoin-block-size-economy/). He's very well respected in this community for his economic/historical work on the origin of Bitcoin's value, so I think his views on the block size are important. Apparently, he views the 1 MB limit as something similar to a government-mandated output ceiling, and that it disrupts a block size 'free market,' so to speak. What do you guys think?
6  Bitcoin / Bitcoin Discussion / Re: People are really doubting Wright's claims about being Satoshi on: May 02, 2016, 10:58:56 PM
Well what was the point of all this fake Satoshi stuff once again? Is Craig Wright looking to bring the price up or down? What is he going to gain for himself by claiming to be the real Satoshi and can he be prosecuted for submitting misleading information? I guess free publicity for Bitcoin is not a bad thing after all as this news has been broadcasted around the world to a lot of people.

Attention. Wright is one weird guy.
7  Bitcoin / Bitcoin Discussion / Re: People are really doubting Wright's claims about being Satoshi on: May 02, 2016, 07:01:16 PM
The real Satoshi could just send a message saying he is not Craig.

This actually might happen the more I think about it. If Craig is not the real Satoshi, then the real Satoshi might want to dispel these rumors before it goes too far.

Agreed.
8  Bitcoin / Bitcoin Discussion / Re: People are really doubting Wright's claims about being Satoshi on: May 02, 2016, 06:29:07 PM
I said it before and i will say it again. he is not satoshi he is truing to force satoshi out.

Do you think it'll work?

No. 

no way

This is an interesting theory. My own 2 satoshis is that if something like this happened, the real Satoshi would hold his fire until he saw that the bitcoin community was reaching a mistaken consensus and had accepted a con artist in his place. Only then might he act. And even then Satoshi would do so in a way that would protect his own anonymity while demonstrating that false claimant was a scammer. Satoshi doesn't need to hold a press conference or appear in person to demonstrate his identity/ownership of private keys, and use those keys to send authentifiable messages denouncing the scammer.

Yeah, I think his concern would be preventing an impostor from using Satoshi's influence to control Bitcoin, rather than simply letting people know that the real Satoshi is still unknown. That lends to your theory that he would only act if the community reached that mistaken consensus about his identity.
9  Bitcoin / Bitcoin Discussion / Re: People are really doubting Wright's claims about being Satoshi on: May 02, 2016, 05:27:37 PM
I said it before and i will say it again. he is not satoshi he is truing to force satoshi out.

Do you think it'll work?
10  Bitcoin / Bitcoin Discussion / Re: People are really doubting Wright's claims about being Satoshi on: May 02, 2016, 05:16:21 PM
Everyone knows the simple and clear way to establish a claim to being Satoshi is to publically publish a digital signature proving you hold the private key to the Genesis block. This wouldn't be final proof (we could argue conspiracy theories forever on that point), but it would be a clear hurdle to pass.

So a person who claims to be Satoshi and has a chance to offer such proof, and specifically fails to do so - as is the case with Wright - can only mean two things:

1. He's not Satoshi and this is a scam.
2. He is Satoshi, but there is some reason, some motive, for not wanting to convince everyone he is Satoshi, at least not all at once.

I've been pondering if #2 is viable. It's hard to see the point of such a gambit. Perhaps to avoid rocking the market too suddenly? But that doesn't strike me as a big enough justification to dribble out the evidence second-hand via Gavin and Jon's word. So I'm sticking with some form of #1 for now.

Yeah I wonder why he wouldn't want to prove it all at once, I'm inclined to agree with #1 as well.
11  Bitcoin / Bitcoin Discussion / People are really doubting Wright's claims about being Satoshi on: May 02, 2016, 04:50:43 PM
The Bitcoin community is very reluctant to believe Craig Wright's claims of being Satoshi, what do you guys think?

Article link: http://bitcoinist.net/community-wary-craig-wright/
12  Bitcoin / Bitcoin Discussion / Re: HYPR CEO thinks that the blockchain will become 'ubiquitous' in banking on: May 02, 2016, 12:31:56 AM
Ok but we dont care about blockchain. Are the bank fees going to be lower? Probably but not by a lot.

Bitcoin is superior to the banking transaction system in anyway. But at least they get familiar with the tech.

I would like to see full Bitcoin implementations, but I'm not against gradual change either. Sometimes a full and immediate overhaul might produce unwanted shocks to the system, and gradual evolution may actually be the best course of action.
13  Bitcoin / Bitcoin Discussion / HYPR CEO thinks that the blockchain will become 'ubiquitous' in banking on: May 01, 2016, 04:09:47 PM
The CEO of HYPR seems to be pretty optimistic when it comes to blockchain technology being integrated into the legacy finance system. However, he doesn't think Bitcoin as a currency will go mainstream, just the underlying blockchain technology. This notion of 'Blockchain without Bitcoin' is a fast-growing trend in our space, what do you guys think about it?

Article link: http://bitcoinist.net/hypr-blockchain-ubiquitous-banking/
14  Bitcoin / Bitcoin Discussion / Re: Bitstamp Moves to Luxembourg, Becomes First Nationally-Licensed Exchange on: April 25, 2016, 03:29:21 PM
What does this mean for endusers? They were already allowed to proceed with fiat cashouts, what does this regulation add? I don't see good things coming out of this, but I am likely misinformed...

Good news there is they'll be creating a BTC/EUR pair Smiley

Nejc told us that he and his company believes coming into regulatory compliance is one of the best ways to help Bitcoin go mainstream. He believes that by securing a direct line with regulators, rather than the indirect regulation imposed through banking partnerships, banks and other financial institutions will feel more comfortable dealing with Bitcoin.
15  Bitcoin / Bitcoin Discussion / Bitstamp Moves to Luxembourg, Becomes First Nationally-Licensed Exchange on: April 25, 2016, 02:35:08 PM
Bitstamp has relocated its headquarters to Luxembourg, where it has received a national Payment Institution license. Bitstamp says this makes them the first nationally regulated exchange in the world, whereas other licensed exchanges just have a handful of licenses in various US states. What do you guys think about this news?

Article link: https://news.bitcoin.com/bitstamp-luxembourg-nationally-compliant/
16  Bitcoin / Bitcoin Discussion / Bitcoin.com's Ross Ulbricht Birthday Celebration Day 2 on: March 28, 2016, 02:50:35 PM
Bitcoin.com is starting the second day of its letter-writing event for Ross Ulbricht's birthday. Today, we will have several letters from Bitcoin.com team members.

9 AM EST: Dear Ross Ulbricht: A Letter From Mate Tokay (https://news.bitcoin.com/ross-ulbricht-birthday-mate-tokay/)
-Mate Tokay, COO

1 PM EST: Dear Ross Ulbricht: The Next Ten Years
-Evan Faggart, Senior Editor

3 PM EST: My Open Letter To Ross | Jamie Redman
-Jamie Redman, writer

7 PM EST: Letter to Ross: Thank You for Spurring my Recovery
-Sterlin Lujan, writer

9 PM EST: Dear Ross: A Letter From Caleb Chen
-Caleb Chen, business development

If you would like to help Ross, feel free to donate to his appeal fund at FreeRoss.org. Another way to help Ross is to write a letter. Bitcoin.com accepts open letters to Ross from anyone in the Bitcoin community. They will be published on the website, and a physical copy of the letter will be mailed to Ross in prison. If you'd like to send us a letter for Ross, email it to evan@bitcoin.com.
17  Bitcoin / Bitcoin Discussion / Re: Today is Ross Ulbricht's Birthday. Bitcoin.com Celebrated by Publishing Letters on: March 28, 2016, 04:07:53 AM
Happy Birthday Ross!
What a shame to see he threw his life away, when (for example) he could have created a legal business and/or at least used a server not based in the USA.
Definitely could have been more careful that's for sure. At least people have learned from his mistakes.
18  Bitcoin / Bitcoin Discussion / Re: Today is Ross Ulbricht's Birthday. Bitcoin.com Celebrated by Publishing Letters on: March 27, 2016, 08:06:27 PM
I hope he comes out from the prison hell cause prison is hell of this world. He hasn't done any horrendous crime apart that facilitating drugs weapon and some kind of other illegal activities. I mean people kill persons and don't get life prison, why this one should get life prison?

Unfortunately they felt the need to make an example of him
19  Bitcoin / Bitcoin Discussion / Re: Today is Ross Ulbricht's Birthday. Bitcoin.com Celebrated by Publishing Letters on: March 27, 2016, 07:19:50 PM
Is this guy sentenced to life prison as far as I know ? Well I wish him happy birthday and we should all donate to FreeRoss.org but if he is in life sentence in prison then there is not much we can do expect the above. Wow life is very sad sometimes.

Yes he was given a life sentence in US federal prison unfortunately. His defense team is working on an appeal to get a re-trial.
20  Bitcoin / Bitcoin Discussion / Re: Today is Ross Ulbricht's Birthday. Bitcoin.com Celebrated by Publishing Letters on: March 27, 2016, 07:12:14 PM
Should be some interesting reading material while sitting around munching on food all day.

I hope you enjoy, thanks for reading!
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