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1621  Economy / Speculation / Re: Potential Bitcoin Prices - Infographic For You To Share on: March 08, 2013, 04:50:19 PM
I like it!
1622  Bitcoin / Mining / Re: Soft block size limit reached, action required by YOU on: March 08, 2013, 04:43:36 PM
1) If block size is increased anywhere up to 10 MB, I will still run a full node on my home computer.  Beyond that, I may not be able to. At least with today's technology, anyway.
2) Mining pools would not be affected by such a change.  They would (appropriately so) balance the size of a block with the transaction fees that make up said block.  They would likely not accept any free transactions, but fees even lower than the default might be ok in some cases.  It'll come down to the balance of the potential cost of an orphaned block vs the transaction fees that make up said block.  Most blocks would likely be far below a 10 MB limit for quite some time.
3) People who cannot handle 10 MB blocks (around 520GB/year at the MAX, but in reality and for now, much smaller than that) should not run full nodes.  This is not a problem - as long as at least SOME people run full nodes, the rest of us are protected.  Those who really believe that additional decentralization is necessary should be willing to pay for it.  I am.  It's only $25/year to buy a new 2TB drive every four years, and it'll only keep getting cheaper (unless another freak flood shows up).
4) I would encourage an increase in the block size because it is beneficial to miners and beneficial to those who wish to make transactions.  It is only not beneficial to those who wish to run full nodes, but certainly, it would not put it entirely out of the reach of them.
1623  Bitcoin / Mining / Re: Someone just paid 94.35425882 BTC in transaction fee on: March 08, 2013, 04:29:20 PM
wizkid, are you going to distribute this large fee once you get the code working, or attempt to return it to the owner, or keep it as part of the pool's funding?
1624  Bitcoin / Mining / Re: Soft block size limit reached, action required by YOU on: March 08, 2013, 02:26:43 AM
We do not have blockchain bloat due to *all tx's with more than 13 inputs or tx's below 0.0002x* but we *do* have blockchain bloat due to SD (i.e. the source of the current soft limit needing to be raised is just them).

Of course if SD would like to buy me a new hard drive then I would be more than happy for the (hard) limit to be increased just for them. Smiley

0.0005 fee x 2,000,000,000,000 bytes / 500 bytes (average per tx) = 2,000,000 BTC in fees paid to fill up a 2 TB hard drive.

$80M would buy a lot of 2TB hard drives.
1625  Economy / Service Discussion / Re: Bitfloor: Any intent to release held coins? on: March 07, 2013, 11:48:48 PM
Funny, I was just thinking about this today as well... I still have 12 BTC hung up there.  :\
1626  Bitcoin / Mining / Re: Soft block size limit reached, action required by YOU on: March 07, 2013, 11:37:09 PM
It's not about gambling, it's about how expensive their implementation is. They outsourced the cost and they're not paying (enough) themselves.
They are paying exactly what miners require.  If you want them to pay more, then miners have to require more.

The answer was already given.
The proposed transaction fee solution works in most cases, but not SatoshiDice because they have social-engineered gamblers into covering the fees for them, and to make it worse the gamblers are willing to pay a higher fee than real users. If Bitcoin had achieved critical mass already, we might have been able to just say "too bad, deal with higher fees", but at this pre-adoption stage the response to that would almost certainly be "screw you, I'll stick with VISA".

In other words: to ease adoption, bitcoin transactions need to be cheap for users who transfer value, but they need to be expensive for SD which is just abusing the system for information transfer. If we didn't care for bitcoin success, high fees would be the answer.
Why do "normal" users deserve to use the network more cheaply than Satoshi Dice users?  They're both using the same resources.  But this is more of a point of opinion than anything.

If any individual miner or pool agrees with Luke-Jr, then the solution for them is simple: Set their miners or pools to only accept SD transactions which meet whatever arbitrary criteria they believe is fair.  Maybe this is a higher fee, in which case they should notify SD of the change, so that SD can choose whether to pay a higher fee to be included in their blocks.  Maybe this is the belief that SD is the scum of the earth, and they will never process SD transactions.  That's ok too - it is entirely their decision.  The rest of the miners will continue to set other arbitrary rules for what transactions are accepted or denied when they hit a block.
1627  Bitcoin / Mining / Re: Soft block size limit reached, action required by YOU on: March 07, 2013, 11:07:52 PM
It's not about gambling, it's about how expensive their implementation is. They outsourced the cost and they're not paying (enough) themselves.
They are paying exactly what miners require.  If you want them to pay more, then miners have to require more.
1628  Bitcoin / Mining / Re: Soft block size limit reached, action required by YOU on: March 07, 2013, 11:03:04 PM
Last few posts (excluding the one right before this one) show an epic misunderstanding of what's going on. Bitcoin isn't broken, SD didn't break it. It's a sort of thorn in our sides. On the other hand, how can anybody be glad that the blockchain "is being flooded"? We live in a finite universe, you can't fit an infinite amount of anything in anything. The blockchain is no exception. The amount of fees that SD pays is besides the point. The question at hand is, of what value is all the data that's in the blockchain? We have to carry this with us, it makes sense to only take the essentials. If most of the data is noise then it impacts the useability of bitcoin. So for this reason I say that in the case of the blockchain there is such a thing as garbage, undesirable contents.

Look at my last post. I detail some facts about mining and miners. Miners DO have the power (and authority) to censor transactions. They can DEMAND that you pay a higher fee. This isn't a mistake, these are the brakes designed into the system for EXACTLY THIS PURPOSE. I contend that no system exists that can withstand an infinite amount of bad product, waste or whatever you'd like to call it. Further I expressly retain the right to kick this noise to the curb if I feel it will benefit the network.

Good day sirs! Tongue
You're kind of getting to the same point, just from a different direction.

The fact is, miners can choose to to do whatever the heck they want.  Which is exactly what you said, and exactly why I am glad that Satoshi Dice has been doing what it has been doing, because it will begin forcing miners to care about what transactions they include and what transactions they do not include, and whether they want to increase the soft limit or hard limit on block sizes, etc.  It will force users of Bitcoin to decide whether they want to include fees and how large of a fee to include, and it'll force clients to give users more flexibility in whether they choose to include a fee or not and how large that fee should be.  And while we can sit in this thread all day discussing the best course of action, it is ultimately entirely in the power of each individual to decide what is best for them to do.

In other words, SD is forcing us to face the growing pains of Bitcoin.  The GROWING pains.

I like it.  It'll mean a more mature and usable Bitcoin down the road.
1629  Economy / Computer hardware / Re: [WTB] Early order BFL ASIC mini SC for 1500 USD on: March 07, 2013, 10:44:20 PM
I'll sell you my first-day preorder for 10x that amount.
1630  Bitcoin / Mining / Re: Soft block size limit reached, action required by YOU on: March 07, 2013, 10:16:24 PM
I can't wrap my head around why so many people are hating on Satoshi Dice.

What if there were some African business helping to educate or feed starving kids in Africa and it had a business model that produced a huge quantity of transactions, would you still be against it?

I really think these anti-Satoshi Dice people are elitists who think that because gambling is stupid in their minds that nobody should be able to.

As if the Bitcoin Protocol gives a shit about what the transactions are used for.

And Luke-Jr says SD is breaking the rules. Really? I was under the impression that any transactions that broke the rules were immediately rejected by the bitcoin protocol. I mean, it looks like they're playing by the rules to me.

Seriously, if Bitcoin can't handle Satoshi Dice just throw in the towel right now, because I have some news for you. In the future, when Bitcoin is the GLOBAL MONETARY STANDARD, 95% of all transactions are likely to be gambling, sex, and drug related.

Those seem to be things that people value highly in life. Just because your puritan asses can't handle it doesn't mean we can't.

I, for one, LOVE that Satoshi Dice is flooding the blockchain.
A big thumbs-up to this post!
1631  Economy / Service Discussion / Re: Operation Fabulous is down... on: March 07, 2013, 09:41:43 PM
Is there any way for me to skip the loading of an image and resume loading the rest of the page

You could simply turn of image loading altogether in Firefox:
https://addons.mozilla.org/en-US/firefox/addon/official-hide-images/
Ideally, I'd like to have a solution that works for all the users of my sites regardless of what browser they are using.
1632  Economy / Service Discussion / Operation Fabulous is down... on: March 07, 2013, 08:39:06 PM
...which sucks, because it takes 20 seconds to load a single page on my websites that use it.

Web coders out there:  Is there any way for me to skip the loading of an image and resume loading the rest of the page if the image is taking more than X number of seconds?  I suppose such a thing could be a failsafe in the event of operation fabulous going down for any reason.
1633  Bitcoin / Mining / Re: Soft block size limit reached, action required by YOU on: March 07, 2013, 08:19:14 PM
This thread is very interesting in that it is a place where some of the smartest people on the plant, discuss things with some of the stupidest.

I love bitcoin.
Indeed... fascinating to watch the interaction.
1634  Economy / Trading Discussion / Re: MtGox is bitcoins weakest link!!!!!! on: March 07, 2013, 05:27:40 PM
Bitcoin works great because it is decentralised.

80% of bitcoin trade happens at Mtgox which is centralised.

WE NEED A DECENTRALISED EXCHANGE SYSTEM NOW!!!!!


You want to decentralise where bitcoin is traded?  It's dead simple.

Create your own exchange that has buy/sell fees of less than 0.25%.  Mt gox starts at 0.6% and slowly goes down with bigger trading volume (for the average 50 BTC day trader it goes down to about 0.4%)

If day traders were aware of an exchange that charges less than MT GOX, many would flock!
Not really.  Day traders are going to trade on the exchange with the consistently lowest spread.  Because MtGox is the most used exchange, it'll have the lowest spread.  And because it has the lowest spread, it is the most used exchange.

Exchanges already exist with fees below MtGox, but they aren't as successful, because they all have various problems.  Bitfloor was hacked and not smart with security.  Coinbase has issues with downtime.  Most other exchanges aren't available for one particular main currency or another - MtGox has the most world-wide currencies supported AFAIK.

MtGox isn't nearly as good as it could be, but nothing better has yet presented itself.
1635  Economy / Economics / Re: What happened in may of 2011 that caused BTC to rise to $8? on: March 07, 2013, 05:05:04 PM
I know in late April 2011, there was a huge long thread about Bitcoin on Overclock.net, [...] I can't even find the thread anymore - it may have been deleted.


Users From Overclock.net Rushing To Mine Bitcoins


Overclockers Shutdown all Discussion of Bitcoin


First they call you a scam, then they shut your thread, then they setup their own mining pool - then you win !

http://bitclockers.com/

Thanks.  Looks like they deleted the thread sometime before June.  The original post is forever saved though:
http://web.archive.org/web/20110428230202/http://www.overclock.net/other-software/1001123-earn-your-gpu-bitcoin-mining-guide.html
1636  Economy / Economics / Re: What happened in may of 2011 that caused BTC to rise to $8? on: March 07, 2013, 04:48:27 PM
I know in late April 2011, there was a huge long thread about Bitcoin on Overclock.net, I think stemming from a news article that was posted.  That's how I heard about it.  The mods eventually locked the thread and, for a time, banished people from talking about Bitcoin at all (wtf?), but the thread had reached thousands of replies and over a hundred pages by then.  So that launched a lot of sudden interest into Bitcoin.  I can't even find the thread anymore - it may have been deleted.

Anyway, with that sudden increase in interest of Bitcoin mining (hey, you have tens of thousands of computer enthusiasts who just heard about it for the first time), they start jabbering away about it, even wanting to buy some, etc.  Some news outfits heard about it and wanted to write about it.  And it snowballed from there.

At least, that's what I believe happened with it.
1637  Bitcoin / Mining / Re: Soft block size limit reached, action required by YOU on: March 07, 2013, 04:36:38 PM
The solution is to pay more for your transactions instead of demanding more for less.
Exactly this.

For everyone sending transactions, start putting fees in them HIGHER than whatever SatoshiDice is paying.  This would relegate SD transactions to be the least-prioritized transactions on the network, and they would only fill up the remainder of blocks after all of the more "legitimate" transactions have been processed

That said, we will eventually need to be increasing block sizes, so why not start now?  I completely agree that the network needs to be able to handle more transactions to go "mainstream", and I think we should begin planning based on what current hardware can handle, not on an arbitrary limit that we think will be enough.

Currently, the network at 1 MB per block can create about 52 GB of blockchain data in a year.  I'm not sure about the rest of you, but that amount is certainly feasible for me to store indefinitely.  A 2 TB drive can be had for $99.  That'll store 19 years of data, so less than $6/year to store the blockchain.  Is that really so unreasonable?

So say we increase the maximum block size to 5 MB per block.  That would create up to 260GB of blockchain data in a year.  Again, a 2 TB drive would store 7 years of data for $99.  So that's what, $12 or $13 a year?

Now certainly, there is no monetary compensation or incentive for people to choose to store the whole blockchain, and I don't expect many people to do so regardless of what block size is ultimately chosen.  But those who are interested in maintaining Bitcoin's integrity as a decentralized currency certainly will, and will definitely be willing to spend a token amount ($12-$13 a year) to maintain their Bitcoins' value.
1638  Other / Beginners & Help / Re: Money sent to wrong mtgox account!! on: March 06, 2013, 11:02:34 PM
I contacted them. Fingers crossed.

If it would have been me I'd been like hell ya I just got free money.
Then you honestly don't deserve a penny of it back.
1639  Other / Beginners & Help / Re: Vote for Your Favorite Wallet on: March 06, 2013, 11:00:58 PM
Why not just set up a poll thread for this?
1640  Economy / Speculation / Re: Fundamental analysis thread on: March 06, 2013, 10:37:42 PM
http://pokerfuse.com/features/in-depth/winpoker-bitcoin-comes-worlds-largest-online-poker-network-ipoker-06-03/

Too bad the money is converted to a traditional currency upon depositing, but still good news nevertheless.
Haven't heard this news yet... how big is WinPoker?  Are they the company that Gambling911 was talking about?
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