Bitcoin is at a breaking point, yet the core developers are too wound up in petty arguments to create the required modifications for long term sustainability. If nothing is done, Bitcoin will never be anything more than a costly science project. By stress testing the system, we hope to make a clear case for the increased block size by demonstrating the simplicity of a large scale spam attack on the network.
They aren't in petty arguments. There is consensus among the developers that something needs to be done to increase scalability. They all agree that the block size should be raised, but they disagree how much and how it should be done.
The plan - We have setup 10 Bitcoin servers that will send approximately 2 transactions per second each - Each of these transactions will be approximately 3kb in size and will each spend to 10-20 addresses - The outputs will then be combined to create large 15-30kb transactions automatically pointing back to the original Bitcoin servers.
When will the large transactions be sent? How often? The target will be to generate 1mb worth of transaction data every 5 minutes. At a cost of 0.0001 per kb (as per standard fees) this stress test will cost approximately 0.1 BTC every five minutes. Another way to look at the cost is 0.1 BTC per full block that we generate. We have allocated 20 BTC for this test, and therefore will be able to single handedly fill 100 blocks, or 32 hours worth of blocks. However, we will stop pushing transactions after 24 hours at 13:00 GMT Tuesday June 23.
100 blocks is not 32 hours worth of blocks, it is only 16.67 hours. 144 blocks are generated daily, so this number is incorrect. This is an interesting experiment, but it can and probably will disrupt a lot of trade going on through bitcoin right now. Also, since your transactions are pretty much dust and microtransactions, I think that miners will drop a lot of them and ignore your spam. Can you show us the results from your other tests? It's clear that we need to raise blocksize, but this test should put to rest this notion of "omg it's the apocalipse if we reach 1mb limit". Let's see what happens June 22 and if nothing happens then that means we are safe to stay with 1mb for longer than expected while the perfect solution is found. Im also worried about microtransactions but they should go through. Miners can't selectively choose what or not they process afaik. |
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When i add a new wallet to my blockchain, they just give me an address, they just give me another address, they dont give me the private key for it, if i lose my identifier and i cant login to blockchain,how do I get back my money? can i use the private key of the original address and import the details to another client?
Yes, the private key can be used to import funds on another client. But he says he lost the access to his passphrase to accept the blockchain. I don't think you can extract the private keys of the wallet unless you can access to it through the website which is why I avoid any online wallets. |
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Amir Taaki hasn't been heard from in months.
https://github.com/darkwallet/darkwalletLatest modifications on there have been from months ago too. Is it safe to assume Darkwallet is abandoned at this point? It sucks because Bitcoin's anonymity needs a lot of work. I think they'll start working on it again eventually. They are drifting about. Sleeping on couches. Doing multiple projects. What other multiple projects? Did they abandon Darkwallet to work in Samourai or are those different dev teams? it seems both wallet intended to do exactly the same thing. |
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we are already doing something, in the way of beginning to attempt at colonizing other planet like mars, check mars one it's an awesome attempt to send 100(50 men and 50 women) to build there a new facility and start a new human era
we could restart the whole green factor(forest, jungle and everything with it) on mars inside special buildings that will work as greenhouses
it's also obvious that precious metal or resoucers on earth can't last forever, and the only solution is to conquer other planet
We are going to need some high end technology to get some realistic expectations to colonize a planet and live on there. Right now, the candidates for an habitable planet are too far for us to reach, living in Mars is not viable unless only specialized people go for research purposes. |
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I'm optimistic about the future, I imagine it being widely accepted as a method of payment and trading. Because of it's decentralized nature, it's bound to be better accepted, which in turn shall increase the value. I think crypto-currency is highly potent, and is something that will be widely accepted across the globe.  Well we're all somewhat optimistic, otherwise we wouldnt hang around here as much. But i disagree with you on this bolded part , since no central authority also makes every potential new user sceptical, given the fact that they have noone to turn to in the case of theft or fraud. I believe in decentralisation, but i don't think it's attracting the average Joe, but rather speculators and fast profit seekers. cheers Yeah, I don't think people even know what the concept of decentralization is. If you go out on the street and ask people "do you know what decentralization is", it's probably 1 in 10 people that would know what it is, let alone in the context of a Bitcoin. |
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I have a mate that got the Galaxy S5 and he managed to reverse engineer the fingertip thing that authenticates you as the owner to gain control of it, these things aren't advanced enough to gamble with your BTCs imo.
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Seeing stuff like this burns quite a bit. Such is the luck of the early investors. I hope that we can celebrate something like this 10 years from now, hopefully our current stacks can afford us a lambo.
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I have never heard of this can anyone tell me what they did?
A Bitcoin record label sounds interesting.
They do mostly dubstep, house, stuff like that. They have some nice names there, but unfortunately for them, they somehow managed to put Krewella first in their artist page...  Speaking more seriously, I hope they open their Bitcoin store again. If music websites like Beatport or labels accepted Bitcoin, I'd buy quite a lot more music than I do right now. Yeah it would be great that Beatport accepted BTC. I would also love to see soundcloud accepting BTC donations, so you can donate on tracks you like. |
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how they can track back something like monero? not to mention any others random coin that can emerge every day, it's impossible to follow that shit, plus the coin that you see in the altsection are not all the possible existing coins
They can't track Monero, Dash, or even Bitcoin (if you wash the coins). But you must report every capital gain and loss with the current laws, and I don't want to be charged with money laundering/tax evasion.  Although I do want to pay the minimum amount of taxes possible, I was hoping I could use my Bitcoin earnings to purchase investment properties and avoid the capital gain taxation (1031 loophole) but this isn't currently possible. Even though both are considered property unfortunately they aren't 'like-kind' https://en.wikipedia.org/wiki/Internal_Revenue_Code_section_1031But i'll ask this again: How do you report gains if you keep track of it? who in their sane mind has keep track of eeevery single transaction ever? specially as a daytrader, and specially when tons of them happened in defunct exchanges where the databases are lost forever... how then? |
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Bitcoin is freedom and you cant stop it. People always want freedom. Even if Governments restrict bitcoin they never stop or prevent using Bitcoin. We think China Gov. restrict the bitcoin but they have biggest bitcoin economy in the world.
Well stuff like Tor is supossed to be freedom but is banned in some places like China, but strictly speaking if we were in China we would have to say that indeed it is illegal, which is fatal for mainstream adoption. |
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It is indeed wrong to assume that the mere replacement of existing forms of human labor by machines will lead to technological unemployment, but if the technology driving that replacement is advancing at a rapid rate; if it is built on a technological infrastructure that allows for “winner takes all” markets; and if ultimately it could lead to the development of human-like androids, then there is indeed reason to think that technological unemployment could happen. Since this will lead to a significant restructuring of human society, we should think seriously about its implications.
Human-like androids are just a fantasy, there's no economical reason to build such unless for pure amusement. i.e. you won't see an army of androids sitting at the desks staring at monitors and typing on keyboards, you'll rather see a piece of software that can do the same at close to zero operating cost. But human-like robots are good for the sake of discussion. Ultimately, if it is possible to develop robots who outperform humans both on physical and intellectual level, then the need for human-labour will almost entirely disappear. Any sort of IA or human like robots aren't needed to get rid of most jobs today. The human-like robots will come handy when they automate services like hotel receptionist. In Japan there is an hotel that works with human-like robots only, imagine how many potential jobs got lost there and imagine when it goes worldwide. |
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Comming soon, your ID tied to every monetary transaction ever, so they can monitor what you do with your money 24/7, and people will willingly get chips implanted because "its safer that way"
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713
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Other / Politics & Society / Re: NSA, CIA, IRS, DHS, ATF, FBI, GCHQ, Federal Reserve, ISIS are the illuminati
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on: June 17, 2015, 09:53:42 PM
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A foreign government will now collect the data and then share it with the NSA. They are in bed with many agencies worldwide. Indirect surveillance. This is my bet.
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Did you keep track of EVERY single transaction ever?
I think everyone has at least done some tradings in exchanges that are now closed and lost the trading history. This happened to me. I would like to know what to do in such situation, where you genuinely lost track of your BTC earnings/expenses)
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There should be a way that becomes a standard in every cinema of a developed country that lets you pay with BTC. When im carrying my popcorn last thing I want is count cash, I could scan the QR with my phone and pay in a second.
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as Satoshi said, you will either be a millionaire or have nothing by 2020
(you can easily find the quote)
when satoshi said like that? i dont know really. if like satoshi said, 2020 is our real gamble tobe a millionaire or bummer??? 5 years is a lot of time for most investors. Most people here will have sold by them after too many temptations, specially as soon as we approach ATH again, everyone and their mother will sell, and then a few will make it into the 1% of guys that hold until 5 figures are a reality. |
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Could be the Gemini pump and dump.
This is a mix of a lot of things. The Gemini release is always a factor, but Greece is about to collapse and people is finding ways to secure their cash instead of having it under the sofa, so expect tons of cash flowing inside BTC. There's also the general notion by intelligent people with money that are aware that the price is extremely low and the rise could start any time when least expect, which leads to panic buy surges. |
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There's always the hopeful possibility that Bitcoin becomes entrenched in developing countries, even though it doesn't get widely adopted in the more developed ones. The Age of Cryptocurrency ( http://theageofcryptocurrency.com/) talks a bit about people without access to banks. I think it was 5 billion people including kids. Many of these people already use alternative monetary systems. The difficulty in moving money in those regions and the high costs and risks associated to it provides the necessity for them... and for the Bitcoin system. It'll be tough to reach all those people and install the infrastructure but since many of them are used to alternative systems it's not such a stretch. Plus, they have the incentive. It'd be cool to have Bitcoin quietly helping the less fortunate while the rest of the world worries and debates about ponzi schemes and drug money. That sounds all great right. But, most average joe have the difficulty of getting or purchasing a solid bitcoin, and some just find it a hassle. The hard part is the education of purchase and the beneficial side to having it. If people dont see theres no point, they just end up using their credit card. I think in developed countries, IRL usage will not be specially high until the goverment fucks people up big time after the remove physical cash and whatnot, but I see a massive usage on those that get paid by doing stuff on the internet. If the kid that's uploading GTA5 videos and making 50 bucks a month of Youtube advertisement finds out he doesn't need to wait for the annoying 70 dollar Ad-sense trehshold to be able to cash out, and instead he can get paid in BTC directly and use it anytime he wants, he will switch to BTC. At this level alone, BTC usage will go off the roof, since getting paid in BTC is always superior vs what we have now. |
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During the last financial crisis, all these companies decided to announce bankruptcy at around the same time. Why?
Everyone was waiting that the next guy would declare bankruptcy. Once one bites the bullet the rest follow, this way it causes a chain reaction where no one really loses, specially if they are important businesses, they always get saved by the state with people's money. |
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After watching the video by Gmaxwell where he explains the blockstream technology along with the features of sidechains etc, I think im a proposal for that now. But I still think the blocksize will need an eventual upgrade from 1MB.
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