BTC Block Size Consensus Reached? Bitcoin Classic is Unveiled
https://news.bitcoin.com/block-size-consensus-reached-bitcoin-classic-is-unveiled/
(about time)

I don't see your tweets in the #bitcoin twitter stream. 

ROFL, cheeky tweet 

You could be forgiven for thinking so but no. He deletes Tante's posts on Reddit whenever she tries to contribute to his thread.

Peter Todd famously referred to Dash as "snake oil" LoL. But he subsequently lost that argument as is now being borne out be recent events on many fronts - monetary fidelity, governance, commercial compatibility and accessibility.

Have you guys been following all the drama in r/bitcoin from Peter Todd double spending Coinbase to show how zero conf are really insecure. It is a must read for anyone interested in InstantX and how important this Dash feature really is.

Check it out here:

https://np.reddit.com/r/Bitcoin/comments/40ejy8/peter_todd_with_my_doublespendpy_tool_with/cytlhh0

There is an interesting conversation with Charlie Lee, as Peter seems to have used the most basic double spending technique against them and kind of exposed coblee.

You bet.  Corrected my script.  Also made some other changes to maybe balance out my mistake.   

Well, that was unexpected....Thank you TOS for the Mt Dew votes!

Potential Top 6
Mineral Water 12.64617432 DASH
Mt Drew Dew 9.002 DASH
Rootbeer 8 DASH
Coke 7.9389742 DASH
Dr Pepper 4.001 DASH
7up 3.7121 DASH

Soda Voting Results for the InstantX Vending Machine as of Today:
TAO, not good for coke, look at rootbeer.
We have a big entry for 7up with a 3.71 dash donation.  Thank you.

Potential Top 6
Mineral Water  12.64617432 DASH
Rootbeer  8 DASH
Coke  7.9389742 DASH
Mt Drew  4.002 DASH
Dr Pepper  4.001 DASH
7up  3.7121 DASH
-----------------------
Mello Yellow  3.7 DASH
Red Stripe  0.364 DASH
Cherry Coke  0.021 DASH
Pepsi  0.011 DASH
Diet Cola  0.002 DASH
Sprite  0.001 DASH

We are going to cut off voting tomorrow so we can make labels. Anyone else who wants to push their drink into the top 6, now is your chance. Thanks again for all your support.

Here are the addresses.
Coke: XcoKEbG1jeHKitW4HAnrNKgrofWQe9x26a
Cherry Coke: XcCoKeARJarL8VPRrwmnvNeF1nWxWBCoKK
Dr Pepper: XdrPEPRnsDXSMxWdXs3oK7PAC8Mj5HtXwg
Pepsi: XpEPSiWWjQjKZ3kGaMxjE7uc3BJDH26UMk
7up: XsEvuPpw6o4JiRApE3THBEcuCqjqES2Aho
Sprite: XsPrite2xPLbYGnLarcRa75FC3pYrKZrwQ
Mt Dew: XmTdEW1HAaWqDdoWHpo9tyehgmHt3AcF5y
MelloYello: XmYELq3ozZism9DgzHP3kNoyjtFjT7hqXX
Diet Cola: XdiEtmWyuEAaEKaD9wtfwvfPidLmQrTkh1
Rootbeer: Xroot4dLh7s8UeGsXjpLVd5K7WZU8GD7Qj
Mineral Water: XminwjYtcBwEGTohxZKLZkyooRyEWuQKPQ
Red Stripe: XrEdsTPpnirHozCewVD1XEusip3x6wEeXt

Yeah the TheDashGuy did a fantastic job!  Raptor73 also helped with that cool 3d image.  There are a few corrections I need to make on the text, which I will take care of in the next day or two.

We are making progress.  All the screens work, IX TX work, relays trigger.  We(as in Moocowmoo coding fixes and I supporting the best I can) are now focusing on running over 24 hours without a bug.  Camosoul is hard at work sanding and painting.  Hopefully, some android wallet changes will be announced soon.  Good stuff happening here.

Actually, if you look at the plans for Evolution, which should come out in it's basic form this year, miners will no longer have a say in what goes into blocks.  Masternodes will be split into quorums which will decide on inclusion to the blockchain.  Miners actually post it into the blockchain's ledger, but if they don't do what the MNs say, or if they try to include anything else, their block will be rejected and the next miner to find a block will get the rewards if he properly builds it.

Will we still need miners?  Yes, the mining has is used to randomly group masternodes into groups of quorums which process all transactions.

So, in this way, Dash DOES solve the problem.

Dash's Masternode network will process all transactions in randomly assigned groups called quorums.

Dash's Masternode network is large and very decentralized, with largest holder having around 400 MNs or 11.5% of the MN network.  The chances are infinitely small that he will ever get control of a randomly selected quorum.  This is much more secure than any mining solution out there.  And entropy, the law that states things become more dispersed over time, is actually true, and Masternodes are always changing hands, and those with the most, will undoubtedly sell them off (or their children will inherit and thus distribute, etc...).  It's virtually impossible for anyone to collect more than 20% of all Masternodes at this point, and if they did, they would have driven the price up exponentially.

Masternode Quorums are also capable of handling as many transactions as can be thrown at them.  At the current size of the Masternode network, Dash can handle as many transactions per second as Visa does.  But Dash is infinitely scalable.  By reducing the collateral requirement for a Masternode by half, Dash can instantly double the Masternode network and handle twice as many transactions.

What about the cost of bandwidth and storage of this blockchain, which would surely grow?  Dash's Masternodes are compensated.  They must put up collateral to run a Masternode on the network for security reasons, but in doing so, they earn 45% of the block reward.  The miners also earn 45% and the last 10% goes toward the budgeting system.

Now you will ask, surely, with such a huge blockchain, nobody will be able to use a full node in any practical sense.  So they'll be forced to use a centralized service with a lite wallet.  But you would be partly wrong.  Yes, most people, for practical reasons, will use lite wallets.  This would be inevitable for any coin.  However, Dash lite wallets will be tapping directly into the network, through a decentralized API system, and retrieve their information instantly, securely, and directly from the network through Masternodes, without worrying about using a centralized repository.

I'd like to point out that the subject of the axiom of block size to node distribution size was presented by Evan at the last conference.  I'm not sure if he was the first, but I think he was because I remember him collecting information to make a chart.

Now, again, he's calling number of miners withe full nodes "anonymity"  he's not talking about personal-user anonymity, but of the anonymity and what I would think is more accurate, autonomy of the miners.  Why is relying on Masternodes better than miners?  Because, as has been proven since their inception, they have been growing.  There are always more and more people buying Masternodes, thus the distribution is getting better and better.  Many argue that the biggest holders can quickly earn enough coins to create more masternodes, increasing their share of the system, but this is actually not true.  Aside from the fact that they have to run or have someone run for them, high quality servers, use bandwidth, etc... and pay for it, there are a lot more coins comeing into the system than what they're earning, and thus, we can predict that 1/2 of all coins created end up in Masternodes.  Evan or someone charted the possibilities and it showed that even our biggest Dash holder, otoh, can not increase his % of the Masternode Network, unless he keeps binging in funds from outside the network (that is, buying up all the coins created)

This presentation actually suggests we create a new Federal Reserve, LOL.  Yes, it's the "easy way out" but lets face it.  It's a complete failure if "representatives" have to be used to mine blocks.  I can't believe anyone that is in Bitcoin could think this way.

Besides that, Dash has solved the problem.  Entropy ensures we'll never be more centralized than we are today, but rather that we will become more and more decentralized over time.  Market pressures ensure nobody will be able to buy up enough Masternodes to control the system (requires so many, like 90% or more of the network, even in Evolution) that market pressures will ensure that even a country as wealthy as the United States wouldn't be able to buy up enough.

Done.

Dash Evolution is just about perfect.

Well that's not the sum up.

Repeating something I have said in another thread is hardly the same as the cogent argument that Tok has put forward.

Besides, it should be in this OP.

This should be summed up and put into the OP.

I'm not the troll, I'm a realist and I'm honest.  I'm certainly not a 'yes man'... If I see something fishy I have no problem calling attention to it...

I think Evan has put a lot of work into this project, and it has a lot of good things about it, but if you aren't skeptical when it comes to large amounts of money, you are not doing your due diligence... don't troll me for being skeptical of his motives

Like it or not, I am part of the community...

I'm that asshole who gives you a reality check when you cant see the forest for the trees...


If I were going to try to get rich with my own altcoin, I would do exactly like Dash...

1) Instamine the hell out of the launch (easy to say it was an accident)
2) Coin mixing to make it impossible to track my coin movements
3) Set up MNs to take 50% of the mining share (since I now have a ton of MNs)
4) Set up voting based on MNs to take another 10% (since I continue to have a ton of MNs)
5) Work hard and write a lot of code
6) Change name to Dash

I like Dash, because it looks just like a psuedo-scam I would run myself....

How would you know?

I ran the numbers 6 months ago, but I estimated Evan should have mined 750,000+ in the first 24 hours with the hashrate he himself claimed to have at the time... that's 750MNs already... (not that he necessarily has them online right now)