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261  Bitcoin / Bitcoin Discussion / Re: Bitcoin issue on: January 21, 2016, 09:01:25 PM
I agree with this.

The primary issue at hand is that most people here for Bitcoin are under the idea that Bitcoin is an investment and is something that you should hodl until its price goes super high and then you can sell and make a profit. Of course, this is an issue if you want to use Bitcoin as actual money, and not just for investment purposes. I think that we need to work on changing people's mindsets about Bitcoin as an investment to Bitcoin as your everyday currency.
262  Bitcoin / Development & Technical Discussion / Re: Is a reduced reward time possible? on: January 21, 2016, 08:58:17 PM
It decreases the security of the network proportional to how much the time was decreased. E.g. decreasing the block time by half also decreases the security by half because then it would only cost an attacker half as much in order to pull off an attack like a finney attack.

In the case of a Finney attack, the quicker that the average block is mined, the less time the attacker has to execute the double payment and then broadcast his mined block (http://bitcoin.stackexchange.com/questions/4942/what-is-a-finney-attack). It would cost the attacker half as much time, but he would be racing against other miners who would be solving twice as fast. I imagine there are other security issues associated with faster reward time but I don't see how it makes Finney attacks more likely.

The reduced time does not affect how long (time wise) it would take for a transaction to be considered safe. If blocks can be solved with less hash power, then the orphan rate increases and thus lower confirmation numbers become less safe. It would still take 10-20 minutes for a transaction to be considered safe, just that instead of having 1 or 2 confirmations, it becomes having a lot more confirmations

Is this necessarily true? I think it depends on whether the confirmation accuracy scales at the same rate as the number of stale blocks. From what I understand, lower reward time --> more stale blocks --> more stale transactions percolating through the network --> less confidence in confirmations --> need for greater # of confirmations. 1) Is that right? 2) If so, I can't imagine each piece scales proportionally, which is what it seems like you're proposing above (in asserting that safe transaction time wouldn't change).

That is what I understand from what I have read on this topic. The reduced block time makes it more susceptible to attacks due to a reduced difficulty and that the safe transaction time is still the same. I'm not sure about the exact details of this and I am not an expert on this, you should do your own research.
263  Bitcoin / Bitcoin Discussion / Re: JP Morgan CEO Jamie Dimon Hints "If Bitcoin Gets Big, Governments will Stop it!" on: January 20, 2016, 11:47:43 PM
do these idiots not understand that bitcoin cant be blocked, yeah you might ban it in your country but you cannot stop it.  Anyone with a computer and an internet connection can run a node and if the big mining farms where shut down they could mine it also, these people never surprise me in there arrogance........

Your keyword is "Internet" in which, some governments have control of.  One single country in the east with its Great firewall can easily cause chaos in bitcoins.  Another country in the west have total control of the "backbone" of the Internet can also cause chaos if it choose to.
The internet in itself is decentralized. The backbone of the internet is not located in one country, but multiple countries. And pulling the plug on the internet a) doesn't work and b) would be absolutely catastrophic to other stuff that the governments do care about. The internet cannot be shutdown, and with anonymizers like Tor, censorship and blocking can be easily circumvented.

Furthermore, we can also develop a bitcoin network through radio and not rely on current internet infrastructure. Instead we could create a global peer-to-peer radio network solely for bitcoin. There are people who are trying to create such a network
264  Bitcoin / Development & Technical Discussion / Re: Is a reduced reward time possible? on: January 20, 2016, 06:10:31 AM
Finney attack? really? how much does it cost to carry out such attack? thousands of dollars, correct?
Yes, but it gets cheaper with faster block time since it will cost less to get the equipment with the necessary hash power.

what kind of merchant would accept thousands of dollars in payment, without waiting for a few confirmations?
What's that got to do with anything?

It would take 10-20 minutes for a transaction to be considered safe, IF the transaction is high value. For everyday low value
transaction, 1st confirmation is more than enough. With faster blocks, 1st confirmation comes much faster, which is BETTER security
than 0 confirmation. Let's face it, currently a solid 6 confirmation often take a LONG time. With faster blocks, 6 confirmation is
still pretty solid, but takes a lot less time.
Not necessarily. It isn't about the number of confirmations. With faster blocks the diff is lower so if takes less hash power to find the same amount of blocks. What good does a confirmation do it the block the transaction was confirmed in is orphaned and the longer chain didn't contain that transaction? With lower diffs for a faster time, this scenario becomes more feasible.

Faster blocks hard to implement??? huh??? How hard can it be to implement when 99% of all altcoins has faster blocks???
It is easy to implement from the beginning like with an altcoin because it was there from the beginning and did not require a hard fork. How many altcoin forked their blockchain to get the faster block times? Forking is different and harder to do than having the block time originally since it requires a certain activation threshold and other conditions before the variables can change. It also requires more steps as the difficulty retarget algorithm needs to be changed and the difficulty needs to be dropped when the fork activates. That is more stuff to do than changing one variable when the fork activates for a block size limit increase.
265  Bitcoin / Bitcoin Discussion / Re: Survival Guide near a Hard Fork on: January 20, 2016, 04:06:01 AM
All we can do is hope that something catastrophic doesn't happen. Hold your coins. A massive sell off of people's coins if a hard fork does happen would probably kill bitcoin faster than any consequences of a hard fork would.

How is it possible to route around the contributing technical community like this?

Who all has to go along with a proposed fork for it to become the new consensus protocol?
Miners typically are very important with forking, as they are the only ones who can really fork the blockchain. However, with some software, only some miners are required and a lot of users as then the developers can insert checkpoints to force a specific blockchain be used. This scenario is bad since then the fork happens without consensus.
266  Bitcoin / Bitcoin Discussion / Re: Bitcoin devs discuss changing PoW to exclude ASICs on: January 20, 2016, 01:45:39 AM
Quote
Yes, it would be possible to do that. Candidate code is already written.

That doesn't sound like trolling to me ... but maybe I'm wrong?
It means that it is possible, and that code exists in order to do so. It doesn't mean that it will happen, it just means that it can happen.

Luke-jr did the trolling on github. The person who was commenting on reddit was nullc which is Greg Maxwell, not Luke-Jr.
267  Bitcoin / Bitcoin Discussion / Re: Bitcoin devs discuss changing PoW to exclude ASICs on: January 20, 2016, 01:31:52 AM
https://np.reddit.com/r/Bitcoin/comments/41aocn/httpsbitcoinorgenbitcoincorecapacityincreases_why/cz0z9ym

Soooo ... what happens with this?  The bitcoin redit and forums go with bitcoin core which is now GPU while the miners and most of the exchanges go with bitcoin classic?

I can't decide if this is laughable or a pretty big deal.
There is no decision or plan about making a PoW algo change. He is simply saying that it is possible to change the algo and that code to do so exists (e.g. altcoins and luke-jr). Luke-Jr made a pull request to Bitcoin Classic saying that they should change the algo. I'm fairly certain that he was trolling with that request and was not actually being serious about it.
268  Bitcoin / Bitcoin Discussion / Re: Survival Guide near a Hard Fork on: January 20, 2016, 01:26:23 AM
with the situation until now it seems that we go to a hard fork without consensus. Each part continue to fight each other without an agreement.

This is very concerning.

I'm starting to think it might be worth splitting everything we own up into multiple paper wallets. At least they're not reliant on one chain.
Either way it doesn't matter since the coins you have now would be spendable on any possible chain. The private keys are not linked to specific chains or anything like that.

Great info, thank you.  How will we know if there is a hard fork without consensus?  Will there be warning.  What could happen to cloud wallets while this is taking place?  thanks in advance.
Knowing the people who may hard fork without consensus, the fork would probably be announced with some warning, people would probably only be talking about the impending fork, and after the fact, they would probably also gloat over their "victory". For web wallets, they will go with whatever fork they want. Most will probably announce ahead of time though.
269  Bitcoin / Development & Technical Discussion / Re: Is a reduced reward time possible? on: January 20, 2016, 01:23:10 AM
You guys should search for these topics before asking the same questions that have been asked for many years. Just do a google search.

Some reasons against it:
It decreases the security of the network proportional to how much the time was decreased. E.g. decreasing the block time by half also decreases the security by half because then it would only cost an attacker half as much in order to pull off an attack like a finney attack.

The reduced time does not affect how long (time wise) it would take for a transaction to be considered safe. If blocks can be solved with less hash power, then the orphan rate increases and thus lower confirmation numbers become less safe. It would still take 10-20 minutes for a transaction to be considered safe, just that instead of having 1 or 2 confirmations, it becomes having a lot more confirmations

There is also an increased overhead on SPV wallets (but not really that much) as they would need to store more block headers and thus more data.

And lastly, I think it may actually be a little harder to implement this than it would be to implement a higher block size limit, although to determine that would require some code digging which I don't want to do.
270  Bitcoin / Bitcoin Discussion / Re: Should Paul Vernon take a lie detector test? on: January 18, 2016, 06:13:02 PM
Lie detector tests are easily cheated. They can usually result in false positives and false negatives. Even though lie detectors still are considered evidence in court, they don't work very well and have failed for many criminals who were still convicted based on other evidence.
271  Bitcoin / Bitcoin Discussion / Re: Brian Armstrong of Banker-Owned Coinbase Says we need a "FOR PROFIT" fork? on: January 16, 2016, 10:59:20 PM
Brian Armstrong of Banker-Owned Coinbase Says we need a "FOR PROFIT" fork?

Hearn's evil twin sister speaks >>> https://twitter.com/brian_armstrong/status/688398372521168896
How would that even work? The idea simply doesn't make any sense.
272  Bitcoin / Mining speculation / Re: Why no bitcoin mining farms in Sahara? on: January 14, 2016, 09:30:36 PM
The other obvious question: What do you do at night?

This is I think, with or without Mining, the big snag with Solar. If you have the generating capacity with non Solar to see you through the Night you might as well use it in the Day as well....

Rich
Maybe a bunch of Tesla Powerwalls could get you through the night if you reduced power consumption at night and ramped it up during the day.

Still, this idea is not feasible.
273  Economy / Trading Discussion / Re: What's the danger of buying Bitcoins with ID from a bank? on: January 14, 2016, 04:33:17 AM
When I purchase my coins via a service that sends the coins direct to my PC wallet, or simply withdraw coins from an exchange, I let them go through Bitmixer first, to get fresh coins in return. This way I don't have to worry about my privacy.


What do you mean by bitmixer? Are you talking about something like blockchain? And how does that help with privacy? What about VPN's? Thanks!
bitmixer is a coin mixing service. They make it very difficult for someone to trace your coins so it provides anonymity. VPNs and Tor won't help since IP addresses do not have a part in the Bitcoin network.
VPN and Tor can hide your using IP associated with the transactions since we know some tools can track the IP of transactions then know your location.
Not true. There is nothing (short of a sybil attack) that can track the IP address that a transaction originated from. Transactions do not contain the IP address of the sender, it is not necessary information. Block explorers like blockchain.info only report the IP address of the node that first relayed the transaction to them, not the IP address from which the transaction originated.
274  Economy / Trading Discussion / Re: What's the danger of buying Bitcoins with ID from a bank? on: January 14, 2016, 02:40:42 AM
When I purchase my coins via a service that sends the coins direct to my PC wallet, or simply withdraw coins from an exchange, I let them go through Bitmixer first, to get fresh coins in return. This way I don't have to worry about my privacy.


What do you mean by bitmixer? Are you talking about something like blockchain? And how does that help with privacy? What about VPN's? Thanks!
bitmixer is a coin mixing service. They make it very difficult for someone to trace your coins so it provides anonymity. VPNs and Tor won't help since IP addresses do not have a part in the Bitcoin network.
275  Economy / Trading Discussion / Re: What's the danger of buying Bitcoins with ID from a bank? on: January 13, 2016, 11:11:10 PM
I don't think you actually read the list. You feel that coin dealers, dating services, firearm sales, money transfer networks, online gambling, pornography, and surveillance equipment are all illegal or sketchy?
I read most of it. Probably should have said most of them are illegal and sketchy. But online gambling can be illegal, porn is kinda sketchy, and so is surveillance equipment depending on the equipment being sold. Firearm sales are kinda illegal, depends on the firewarms, and money transfer networks seem pretty sketchy. Coin dealers could be scams and have some sketchiness in them and dating services don't particularly seem safe to me as your date could be dangerous, so kinda sketchy.
276  Bitcoin / Bitcoin Discussion / Re: Suggestions on how to rebuild the Bitcoin Foundation and its Image on: January 13, 2016, 09:04:59 PM
I think we should completely scrap the current one and replace it with something like the IETF to develop standards for Bitcoin.
277  Bitcoin / Mining speculation / Re: Why no bitcoin mining farms in Sahara? on: January 13, 2016, 09:03:07 PM
With 'free' solar energy maximum profits?

Solar energy is not "free"  There are capital costs associated with the construction of the solar power plant, there are also maintenance costs with keeping it running.
Don't forget that there is also no infrastructure out there to easily get equipment out there to build a mining farm. Then people need to live out there to maintain the miners and they need food and water. Also the solar panels would need maintenance as dust and sand would cover up those panels over time and that would reduce their efficiency.
278  Economy / Trading Discussion / Re: What's the danger of buying Bitcoins with ID from a bank? on: January 13, 2016, 01:13:08 AM
  Cable Box De-scramblers
    Coin Dealers
    Credit Card Schemes
    Credit Repair Services
    Dating Services
    Debt Consolidation Scams
    Drug Paraphernalia
    Escort Services
    Firearms Sales
    Fireworks Sales
    Get Rich Products
    Government Grants
    Home-Based Charities
    Life-Time Guarantees
    Life-Time Memberships
    Lottery Sales
    Mailing Lists/Personal Info
    Money Transfer Networks
    On-line Gambling
    Pawn Shops
    Payday Loans
    Pharmaceutical Sales
    Ponzi Schemes
    Pornography
    Pyramid-Type Sales
    Racist Materials
    Surveillance Equipment
    Telemarketing
    Tobacco Sales
    Travel Clubs


wow...lol. Isn't that everything and anything bitcoins can be used for?
No, that is just a bunch of illegal and sketchy stuff. Bitcoin can be used for everything else that isn't banned and is legit. Bitcoin can be used for everything that fiat can be used for as well. Just so you know, that list doesn't apply just to Bitcoin, it applies to fiat as well. 
279  Economy / Games and rounds / Re: Use bitcoin to buy powerball tickets & join the pool! on: January 13, 2016, 01:11:25 AM
Why are you spending your precious btc to this impossible game?

The possibility for winning powerball is lower than "btc will be 1billion$" argument. Cheesy
If enough people play and he is able to buy 292,201,338 tickets and each one has a different combination of numbers, then he would have bought every single possible ticket which guarantees that the jackpot will be won by him. Of course this also requires that enough people buy in so that $584,402,676 has been spent. With the current prize, everyone would still be making a profit.
280  Bitcoin / Bitcoin Discussion / Re: Hard vs soft fork: is there a third way to increase the Bitcoin block size? on: January 13, 2016, 12:37:17 AM
There absolutely is NOT a third way. Hard forks and soft forks encompass all upgrade possibilities, which happen to be a) upgrade is incompatible with previous clients (hard fork) or b) fork is backwards compatible with previous clients. Whichever way you decide to upgrade the network, the upgrade will fall into one of those two categories.

The idea you propose is a soft fork as it is still compatible with previous clients.

BTW, I think your explanation is a horrible and very very poor explanation of what ZoomT was actually trying to do. It has nothing to do with "mushroom blocks" and including transactions in the smaller blocks. In fact, the generalized soft fork idea proposed by him has no indication that any transactions except the coinbase would actually be stored in the small blocks. It essentially attacks those still running old software as they are unable to actually see new transactions and spend from them.
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