2001 satoshis: A vTorrent Odyssey
Hehe, I think we should have a slack for vTorrent discussion, but not discussing torrents.
Try setting up a Telegram instead. it's supposed to be like slack, but open source. |
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That EA software guy has been tweeting like crazy about vTorrent. If he keeps this pace up, we'll have a lot more people on board soon. https://twitter.com/AgentSoftAny Slack plans guys? Another question. If vtorrent will be free to Use what will make its currency gain value then? Slack is a big no no, they just changed their terms of service, the people who set up the channel are now liable for what content gets posted. Not ideal for a torrent channel, just wait till we get group chat through the client Yes it will be free to use just like any other client. As for what gives it value? Off the top of my head, how about selling access to private trackers. Selling access to to rare files or 1080, 4K files or access to that nasty pig porn. that's the problem with slack so its nice to create a group who's interest is to help developing vtorrent and bring more and more investors as we knew that this project is really a big one to watched out just needed more and more exposures and for sure it will bring more profits value will dictate itself. There are a bunch of investors talking about vTorrent here https://cryptocopia.slack.comhttps://cryptocopia.herokuapp.com/Ask them to create a side channel for vtr, they might do it. But Bitcointalk is the original slack  |
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It's coming to life  Still need to see them details of the Spreadwallet As I already earn some revenues from the provision of cloud hosting to Enterprise customers, I know that these types of organsiations are moving to managed cloud services. But the key thing is this: They are prepared to pay between $100 to $300 per user per month. This depends on the level of service, additional features, etc. So, the opportunity for DSDN and service nodes is the potential to charge the cost of hosting, plus a significant premium to manage full nodes for others and provide an encrypted link between SPV and a deployed peer. For Bitcoin, this means the blockchain can grow and grow knowing that full nodes would actually increase and that there is a mechanism to keep the network decentralised by running them through a decentralised network of ServiceNodes vs a small number of big server farms operated by a small number of organisations. Managed services also means that there will be an optimal number of full Bitcoin (or any coin) node, running on the optimal bandwidth and hardware. As miners relay their blocks, DSDN nodes will help speed the propagation of blocks around the world. Or, as Satoshi put it: The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users. The more burden it is to run a node, the fewer nodes there will be. Those few nodes will be big server farms. The rest will be client nodes that only do transactions and don't generate.
https://bitcointalk.org/index.php?topic=532.msg6306#msg6306Ladies and gentlemen, the DSDN whitepaper is done. Full Bitcoin or any node managed by ServiceNodes, with SPV to Full node encryption, for a fee. I thank you. |
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For what it's worth:
I'm the guy who went over the blockchain stuff in Satoshi's first cut of the bitcoin code. Satoshi didn't have a 1MB limit in it. The limit was originally Hal Finney's idea. Both Satoshi and I objected that it wouldn't scale at 1MB. Hal was concerned about a potential DoS attack though, and after discussion, Satoshi agreed. The 1MB limit was there by the time Bitcoin launched. But all 3 of us agreed that 1MB had to be temporary because it would never scale.
Several attempted "abuses" of the blockchain under the 1MB limit have proved Hal right about needing the limit at least for launching purposes. A lot of people wanted to piggyback extraneous information onto the blockchain, and before miners (and the community generally) realized that blockchain space was a valuable resource they would have allowed it. The blockchain would probably be several times as big a download now if that limit hadn't been in place, because it would have a lot of random 1-satoshi transactions that exist only to encode information for altcoins etc.
At this point I don't think random schmoes who would allow just any transaction are getting a lot of blocks. The people who have made a major investment in hashing power are doing the math to figure out which tx are worthwhile to include because block propagation time (and therefore the risk of orphan blocks) is proportional to block size. So at this point I think blockchain bloat as such is no longer likely to a problem, and the 1MB limit is no longer necessary. It has been more-or-less replaced by a profitability limit that motivates people to not waste blockchain bandwidth, and miners are now reliably dropping transactions that don't pay fees.
You were involved in Bitcoin at the time of launch? |
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So, I've been digging around at what might be available at some point next year and the future looks bright, so bright you might want to get some shades: Probably still a bit of development required, then SDC porting and vTorrent forking, but Tor and I2P support will be a HUGE deal for use within the vTorrent client. JoyStream will just get left so far behind:  Then there is the potential for group and private chat groups. No need to worry about joining slack groups, vTorrent/groups/whatcd  Really can't wait for PoSV3 and beyond. |
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This looks like a great decentralised exchange: https://vimeo.com/131086362If you remove the fiat gateways, this could be epic running off ServiceNodes. |
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What's happened to the OP? September 14, 2016, 11:30:17 PM |
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By the way people, VTR will have the option to port over the SDC market.
Not sure if that is going to be integrated by default, or if the devs have the option to add it based on user requests.
From my point of view, having a market is a great idea, but for an odd reason.
The market can actually be like a bulletin board / classifieds. People will be able to post links and stuff. But more than that, people that post links can be rated on the quality of what they are linking.
Anyway, something for much, much later, maybe.
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Hey guys, can I get some more information on the staking system of the client: I just opened my client computer which has been running quietly for a couple of days without being touched, and find only 966 out of my 9000 coins are being staked - is this all done automatically or is something wrong? Or is this just not wrong at all? Can I just stake the lot somehow? I'm sure I was getting better rewards a few days ago
Loving this project btw
I think it's automatic, based on annual percentage distribution (5%). Well, that's my understanding of it. You can go in to the settings and change how much you want to stake. I think this feature is mostly to allow you some funds that won't get locked up when you need to spend them. |
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For future reference if Georgem is not in the forum for a while, everyone can begin espousing ideas that lead to centralization. He will magically appear. It's like rubbing a genie's lamp.
At what point do I consider this a "denial of service" attempt on my available time?  I'm kidding, I will never get tired of teaching you guys a little bit about decentralization. Now back to work. BTW I'm in the BCT forum all the time, but 99% of the time it's because I'm looking up technical bitcoin stuff. In the interest of bumping the thread and having a bit of discussion, I thought I would ask more about decentralization and how it is best achieved. Georgem and others seem to put a heavy emphasis on the miners, as in POW they are bringing the hash power and thus the decision making capabilities. However, my question is why do you think POW is better for decentralization than POS? Decentralization as I understand it has nothing to do with democracy or fairness, but rather accessibility. Would it not seem that POS is far more accessible, requiring nothing more than a standard laptop or raspberry pi to operate the wallet? Compared with the expenses of mining equipment the general level of decentralization seems higher (as more people have the capability of accessing and influencing a POS coin). However, even taking into consideration the fairness of POS v. POW I do not see demonstrable benefits to POW. POW is highly wasteful (estimated that by 2020 Bitcoin mining will use as much energy as the country of Denmark) and both POW and POS require initial fiat investments that are proportionally linked to the relative influence you might wield. The difference seems to be the massive amount of waste POW necessitates. I have heard various arguments against POS (mostly regarding the potential security issue of a 51% attack, which seems unlikely based on the motivations of anyone holding that many coins) but I would love to hear what the community has to say about POS and the relative merits and demerits? Right now I see POW as an antiquated protocol that will eventually need to be modified to compete with less wasteful alternatives. PoS v PoW Both have good and bad points. Spreadx11 solves the centralisation problem which, other than wasting electricity, is the main disadvantage of PoW. But wasting electricity is the core security feature of PoW, but only when the level of mining reaches an escape velocity, ie. it would cost someone too much money to attempt an attack. There are very few coins that have reached this escape velocity, Bitcoin being one of them. If you want a detailed overview of PoS v. PoW: * Ethereum has a good overview as it is migrating from PoW to PoS https://blog.ethereum.org/2014/11/25/proof-stake-learned-love-weak-subjectivity/* Cointelegraph on why a new algo is needed https://cointelegraph.com/news/the-inevitable-failure-of-proof-of-stake-blockchains-and-why-a-new-algorithm-is-needed* Others like Charlie Lee trying to solve this issue https://eprint.iacr.org/2014/452.pdfThe issue with focusing on PoS or PoW is that most people don't really care. You may believe that solving this issue is going to change your world, but it won't. If you get something working, Bitcoin will use it. Look at x11. When it was launched, it was copied to death. It didn't really add anything to Darkcoin. Look at Spreadx11. When it was launched, it was seen as innovative, but the price of SPR tanked to $15k. Miners simply want to earn some steady money and make some profits, but ultimately they are like a lothario, always looking to move on to the next conquest. For all its internet money promises, Bitcoin is now having an identity crisis in that it can't compete with free services like PayPal. The argument about developing a fee market to pay miners is crippling progress. If it turns to PoS, the value of each coin means it becomes an easy target, Bitcoin value goes to zero. The one area that is of interest is creating a requirement for miners to also be linked to ServiceNodes - the collateral to mine idea. Solving the nothing at stake problem for PoS, gets you back to square one: why should anyone bother with xyz coin? End user features and benefits. That's what people want. But even more than that, it's all about profit. You can engage with thousands of people if you can show them a way to make some profits. As shown in the Spread PoBN whitepaper, it doesn't actually have to be a big profit, either. People are quite happy to spend hours on end to make small profits, if there is something else that engages them about a project, like supporting the decentralisation of Bitcoin, or xyz coin. It is a worthwhile goal to try to solve the PoS vs. PoW or even PoS & PoW problem, but it might not lead to any meaningful profits, if that's the problem your ultimately trying to solve. |
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what.cd the largest private music tracker in history (?) just got shut down
where did you see that? |
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An interesting comment about this: what I gathered from this podcast is that Eleazar promotes leeching. all leech, no share means NO KODI content. well - no content people actually want to watch... I hadn't thought about that. Kodi / TVAddons get their content by leeching from various sources. Quite a lot of these places put the work in and provide the servers because they get revenue from various sources, mostly add revenue. If they have nothing but leechers, the servers are still being used, but no add revenue. Payment channels are so needed. |
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Will the wallet be integrated with TOR like Shadowcash?
Dear rhinomonkey, Yes, vTorrent client will be compatible with both standard IP and TOR connectivity. Our next wallet release will bring our core wallet to match Shadow and more. Regards, vTorrent More? Don't suppose you could give us a few details as to what you plant to implement? IoT fridge, toaster and kettle compatibility I hope! A fridge that I can download porn through, a no brainer really. That would be cool  |
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Still need to see them details of the Spreadwallet
Ok, what is the relationship between DSDN and Servicenodes? Are they the same thing? Isn't it rather the details of how Servicenodes will work that you need to see? -sf- Well, it's complicated. DSDN will be a product offered by ServiceNodes, which is a way to avoid full nodes being operated by small numbers of organisations. So we need some ways to provide proof that someone is running a full node. This is fine if a customer is using an SPV. If they don't get the service, their SPV will not work, they stop paying. But we are also including the launch of a second full node. So we need to know if this node has actually been launched, to prevent service node operators from cheating. I'm looking for a central client that can link spreadcoin nodes to servicenodes to bitcoin nodes. Spreadwallet has the potential to be an intermediary between two completely different networks, because it can host various clients. |
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It's coming to life Still need to see them details of the Spreadwallet |
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Will the wallet be integrated with TOR like Shadowcash?
Dear rhinomonkey, Yes, vTorrent client will be compatible with both standard IP and TOR connectivity. Our next wallet release will bring our core wallet to match Shadow and more. Regards, vTorrent More? Don't suppose you could give us a few details as to what you plant to implement? IoT fridge, toaster and kettle compatibility I hope! Your toaster doing torrents, and getting paid to seed? Wow. Nice idea. |
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