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It has become quite obvious to me that Bitcoin Core developers have an agenda to keep the block size small and support Blockstream. The bitcoin core members who support this likely have a lot of BTC and can afford to pay an exorbitant miner's fee to have their transactions acknowledged on the ledger while "bit-peasants" will be forced to do their transactions off-chain with the help of a Bitcoin Bank a.k.a. Blockstream which includes their KYC bullshit!
These "banks" will then start controlling the Bitcoin network and then, at their discretion, will begin to blacklist "undesirable" people from using the network. What happens when these "banks" start requesting that you file your bitcoin tax form? Or that non-US users are being limited or are not being accepted at this time? LOL...just check PayPal or Coinbase to get an idea.
In my opinion, Bitcoin XT is the future of Bitcoin!
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It explicitly says it disconnects addresses with low to negative priority.
This would be the first time in history that anyone was blacklisted from using Bitcoin if XT forks, it's a big deal and against the fundamental reasons Bitcoin is used.
Thanks for this...it is a definite eye-opener!  |
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@VeritasSapere
I fully agree with all of your points.
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You are wrong.
Miners today get a hash from their pool and they try to solve. It doesn't matter if this hash is part of a 20 MB block or an empty block. It is all the same to them.
If they solve it, they send it back to their pool.
I'm not sure what you are referring to that I'm wrong about...please specify. As far as your Miners comment...everybody knows that. As of right now, if the blocks were increased to 20 MB, those blocks won't be filled because the network doesn't have enough transactions to fill them yet for years. In the future, when transaction volume multiplies tenfold, the miners will need a lot more hashing power than they have today. However, with the bitcoin halving next year, the difficulty will definitely increase and the rewards may not be worth it for small mining pools. As a result, they will fold and only the largest and wealthiest mining pools will survive, thus centralizing the bitcoin network even further by depending on fewer pools. On another note, I would like to ask you if you believe that the hashing power from a few thousand ASICs currently used to support the network would be more powerful and cheaper in the long run than hundreds of thousands of peers mining with their CPUs and GPUs? |
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It seems that increasing the block size may negatively affect the current ASIC mining pools and they may potentially abandon Bitcoin if it becomes unprofitable for them. Consequently, this should allow an opportunity for a massive influx of GPU and CPU miners to return to the system. This is actually a good thing because since the arrival of ASICS, there are now hundreds of thousands of new bitcoin enthusiasts. This means that with more potential individual miners, the more decentralized Bitcoin will become!
How did you come to the conclusion? The changing of the 1 MB cap would instnatly make ASIC mining pools irrelevant? How so? I inferred that by increasing the block size to 20 MB, the current ASIC miners would have to do a lot more work, burn a lot more electricity and probably have to add a lot more ASIC hardware in order to continue operations in the future for very little extra gain. Some of them will continue to make a profit, some of them will break even, while others may accrue a loss. As a result of this unprofitability over time, some of those miners will abandon Bitcoin. Never did I mention that ALL ASIC miners would abandon Bitcoin nor did I use the word "instantly". In addition, with all of the centralized ASIC miner "factories" out there, if in time, they become unprofitable to maintain and decide to pull out of the "game", it will be a huge blow to the processing power of Bitcoin and result in major setbacks in terms of transaction time. People are erroneously assuming that somehow Bitcoin will collapse if the above scenario were to play out. I am saying that individual miners will simply pick up the slack and eventually return Bitcoin to a decentralized network of peers. This is not 2012 when there were probably only about 10,000 people involved in Bitcoin. Today, there are hundreds of thousands of people involved in the Bitcoin ecosystem. Imagine the combined power of all those CPUs and GPUs connected to the blockchain. I'm not sure if it would be as powerful as the ASIC network is today but I'm pretty sure it would still make a very robust network. That's all I'm saying! PS - What happened to ASIC Cloud Mining on CEX and other sites? Looks like it "instantly" disappeared.  I wonder why? Unprofitability... I presume! |
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It seems that increasing the block size may negatively affect the current ASIC mining pools and they may potentially abandon Bitcoin if it becomes unprofitable for them. Consequently, this should allow an opportunity for a massive influx of GPU and CPU miners to return to the system. This is actually a good thing because since the arrival of ASICS, there are now hundreds of thousands of new bitcoin enthusiasts. This means that with more potential individual miners, the more decentralized Bitcoin will become!
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If there were Bitcoin police him and the XT people would be the #1 suspects for the mass spam attack. Never gonna be able to prove it 100% cause I'm sure they know how to remain completely anonymous.
Fortunately the mass spam attack didn't hurt anyone so it's not a big deal. Actually provided good data that substantiated the consensus we don't need bigger blocks.
Maybe I'm wrong but you sound like you are either a bigshot miner or you're a blockstream guy. |
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For $90 in BTC, I can give you $80 in PayPal.
You would have to go first.
You can pay the escrow fee if you choose to use a trusted escrow in the BitcoinTalk list.
I have a Verified PayPal Business account.
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LOL... LTCInvest, you can't guarantee SH*T!!!  |
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Wow!!! Well Burt, I'm pretty sure we're all being watched and profiled on these forums by law enforcement. Wonder who they'll go after next?  I'm not worried as I'm a small timer compared to you! OP...don't worry! Hold onto your Bitcoins...one day you or your children or grandchildren or great-grandchildren will thank you!  |
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Conservatively, a fair valuation should be around $1 for 100 satoshis. But an optimistic valuation results in a value of $1 per satoshi for this extremely rare, limited supply, revolutionary coin. So, guys, let us be bearish and stick to the former one (for the time being). Cheers  So even when you think conservatively, you value 1 bitcoin at 100,000 USD? That is not really conservative in my opinion.. You must be one of the uber bulls at the moment  NO...He values 1 BTC @ $1,000,000  |
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Hi, apologies for late response. As you can see here: https://www.blocktrail.com/BTC/address/14yK2Yp8W5Rf8npzA7ZFw9rDX1Jgrhrdtn/transactionsyour last deposit is still in temporary wallet and was not transferred to bee-ads.com main wallet - that is why you were not able to use your funds. It is up to blockchain.info to sort this as we are using their API for automated deposits/withdrawals - they were informed and they are solving the issue now. You did NOT lose any funds as you can see they are in your temporary-deposit-bee-ads wallet but for it to be used it needs to be transferred to the main wallet. Blockchain.info will solve it within 24 hours (as they promised). -------------------------------------------------------------- OK, so they are not a scam but they sure need to respond to support queries ASAP! I still say this is horrible customer support.  I will edit the main title now. |
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OK, Bee-Ads finally sent me a response about my deposit.
So they are not a scam after all...however, they sure need to work on their customer support.
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It has been 4 days since July the 7th when the bastard stole my money.
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This is a big scam site. The owner ran off with my 0.005 BTC almost a whole week now with no response to my emails.  |
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Total SCAM site!!! Ran off with my 0.005 BTC |
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So this M@therf0cker really stole my money ,huh??? |
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maybe it will finally hit my target < $1
+1 I need it to go back down so I can buy again before the next pump. |
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I sold all mine @ $8.20 each! I made a very nice profit...crypto loves me!  Can't wait for it to hit $1.00 again. |
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