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1061  Bitcoin / Bitcoin Discussion / Re: Permanently keeping the 1MB (anti-spam) restriction is a great idea ... on: February 05, 2015, 09:09:11 PM
I am almost certain that if Satoshi had originally coded a block limit doubling every 2 years along with block reward halving every 4 years then this would never have been discussed or even pondered in so much questionable detail. People would be like, "Oh yeah, that's the way it works, let's just deal with now".

gmaxwell: thanks for your timely input on the necessary decentralisation quantification.

Do not forget that the hard-coded fees constants fix should be addressed simultaneously with this issue since they are inter-linked .... or we'll be back arguing about that eventually also.
1062  Bitcoin / Bitcoin Discussion / Re: Permanently keeping the 1MB (anti-spam) restriction is a great idea ... on: February 05, 2015, 04:53:03 AM
Great post.

Perhaps the best way to deal with the transaction limit, so it does not continue to be a problem, is to quadruple the block limit size at each block reward halving every 4 years.  This should put in in line with Moore's Law, such that running a full node won't be out of reach of the average user.


I like the simplicity of this strategy and it has grounding in practical limitations for physical hardware.

Although I would suggest to have it at the midway points between halvings so as to smooth out any lumpiness in the response to fees/reward when changing the halving and max_block_size increase together. Analogous to presidential and mid-term election cycles.

So quadruple max_block_size at 315k, 525k, 735k, 945k, thereafter every 210k blocks. But need to begin with a one-off quadruple increase to 4 MByte ASAP (to account for previous increase that would have ideally happened at 315k).

Edit: on further thought maybe doubling every 105k blocks is less disruptive again, instead of banging the limit every so often. So a one-off quadruple to 4 MB ASAP then double to 8 MB at next halving (420k blocks) and double every 105k blocks thereafter, i.e. double approx. every 2 years, more or less, depending on hashrate, which is a rough proxy for network demand via price.
1063  Bitcoin / Bitcoin Discussion / Re: Permanently keeping the 1MB (anti-spam) restriction is a great idea ... on: February 05, 2015, 03:21:11 AM
There needs to be a consideration of chilling effects, or otherwise, upon ancillary technological development that is directed towards the current rules, when even merely discussing changing the rules.
1064  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 04, 2015, 09:27:31 PM
http://www.coindesk.com/bitcoin-mining-firm-cointerra-files-chapter-7-bankruptcy/

"CoinTerra has between $10m and $50m in assets, with liabilities within the same range, according to court documents.
CoinTerra stated that it would be unable to repay unsecured investors and named hundreds of creditors in its filing, which was submitted on 24th January."

BULLISH AS FUCK

... think we just found the ever-present dumper. Weak hands.

Wonder how many of those "assets"  are actually counterparty liabilities for as yet unfulfilled (short-sold) mining contracts?
1065  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 04, 2015, 09:10:46 PM
Just found out about bitcoin and the federal reserve debt slave matrix?

Welcome to the real world
1066  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 04, 2015, 07:44:25 PM
):

hmmm, very interesting development ... lugano here we come.

Bitcoin is being drooled over by some very large flows that want to escape the clutches of the financial facists ... and rightly so.

They just need to be shown how to operate with it safely and the spigots will open. If developing world can catch a ride and leapfrog the socialist west, mores the better and it makes a better headline story.
1067  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 04, 2015, 07:37:27 PM
No telling how bad off the permabulls would be in this war without General William Joseph Allen to guide them.

"Four punch raiders, incoming! Prepare the counterattack!"

nanobrain's sniping about people making her sick and ruining people's loves is small potatoes.

Too right, this IS a financial war on the facist forces that are seeking to enslave humanity to their broken fiat monetary system for their own power.

The current system is shovelling wealth and earnings out of the lower and middle classes to the very top of the pyramid at a rate never seen before in history. It is brazenly destructive and real people are getting hurt on a scale never seen before, hundreds of millions getting shafted to uselessly enrich a few at the top of the pyramid. We who now recognise this have a moral imperative to warn everybody and anybody who will listen just how fucked up and insidious the current evil system of power, war-mongering, never-ending debt and impoverishment due to centralised fiat money institutions, e.g. debt notes issued by the Federal Reserve.

If bitcoin is a possible tip of the spear to slaying the beast that has a strangle-hold on the economic freedom of humanity, we will use it. Wars are never pretty but no make no mistake this is what you are involved in ... got balls?

Attempts to label bitcoin supporters a cult is just lazy sloganeering revealing an ignorance of history of money and war cycles. Cults don't upend whole technological, financial and monetary orders.
1068  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 04, 2015, 06:52:50 PM
Look what we have here, a marriage destroyed by bitcoin permabulling and shilling:


http://www.reddit.com/r/relationships/comments/2uovrl/me_28_f_with_my_husband_31_m_5_years_will_not/

LOL!  A troll gets trolled!

Even if it is a very elaborate troll, it doesn't mean that there aren't real marriages being ruined by bitcoin.

His fault is telling her.

No, his fault is spending her money along with his, investing in something as volatile as bitcoin out of greed (new home! kids college fund!), and going full-blown cultist in completely inappropriate settings.

Sounds like she needs to find a way to hide some money from him for personal protection reasons, wonder if she has looked into bitcoin for that?
1069  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 04, 2015, 02:31:01 AM
only a bulltard would be long this ...
1070  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 04, 2015, 02:26:54 AM
the thing about the bitcoin bears is they are the quintessential permabulls, USD fiat bulltards. This explains their hyper-emotional, some might say immature, nasty outbursts, gloating, attacks, etc. They are caught long and supporting the oldest, tiredest bull in existence that has been pumped beyond imagination and staggers around zombie-like looking for only yet another QE infusion to prevent implosion.

USD fiat bulls are the worst, let us be honest here.

Anybody pro-bitcoin is in fact the contrarian bear of the most radical type.
1071  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 04, 2015, 02:20:14 AM
Hilarious catching up on this thread.

Everytime the price creeps up the cultists come out and proclaim a new era of monetarism; when it drops they shuffle back in their caves muttering how the price "doesn't actually matter".

Comedy gold..."its the new money".

Same can be said in reverse with the bear cultists... whats your point?

... her cave got too smelly and here she is.
1072  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 03, 2015, 07:38:45 AM
This is worse than waiting for the bass to drop.

long periods of sideways boredom punctuated with sudden upside surprises will be the max pain point for the market ... for the shorts specifically, so that is what it will do now.

Enjoy.
1073  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 03, 2015, 05:38:44 AM
Quote
Starting back in 2011, a chimp could have become a millionaire

actually before then the IQ around this place was highest anywhere on the web ... so, no chimps and chumps have only came along later.

Just like apple and microsoft stocks, you had to have knowledge more than luck at those levels, people whining about unfairness of coin distribution are, almost by definition, stupider than your average bear.
1074  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 03, 2015, 12:51:46 AM
this is looking decidedly bad for the shorts ... chinese water torture, check your tickets are real before the breakout cleans out the exchanges.
1075  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: February 03, 2015, 12:48:18 AM
Can someone with access to Stratfor post the text of this article?

https://www.stratfor.com/analysis/bitcoin-moves-closer-regulation

http://www.reddit.com/r/Bitcoin/comments/2ujrzh/bitcoin_could_soon_stabilize_stratfor/
1076  Economy / Speculation / Re: Why I believe a beautiful and very bullish Bitcoin storm is forming on: February 03, 2015, 12:27:31 AM
What kind of equity does Bitcoin provide?

Access rights to the premier blockchain distributed database technology and the global network of computers communicating transactions with the bitcoin protocol. Also equity shareholding of the limited issuance crypto-token that is native to the bitcoin network.

Surprised you didn't know all this actually.

Keep telling yourself to be "Investors", and I'll stay a speculator and a spectator. (The person just standing, pointing and laughing)

sounds boring ... what happened to your avatar? it was perhaps your only redeeming quality as a terminally toxic poster.
1077  Economy / Speculation / Re: Why I believe a beautiful and very bullish Bitcoin storm is forming on: February 02, 2015, 11:57:54 PM
What kind of equity does Bitcoin provide?

Access rights to the premier blockchain distributed database technology and the global network of computers communicating transactions with the bitcoin protocol. Also equity shareholding of the limited issuance crypto-token that is native to the bitcoin network.

Surprised you didn't know all this actually.
1078  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 02, 2015, 11:44:00 PM
Bears you need to down tools & buy.
Buy now.

Buy whilst you still can.

Quick, get your fiat into exchanges & buy.

ummm, no, we haven't quite finished with their sorry hides yet.

If they hadn't been so mean-spirited, nasty and immature about it, it may have been different.
1079  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 02, 2015, 11:23:06 PM
elon musk = satoshi?
1080  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: February 02, 2015, 11:12:19 PM
so they weren't really selling bitcoins then?

just promises for bitcoins, which are basically worthless.

http://seattletimes.com/html/seahawks/2025594081_supertickets01xml.html

selling non-existent tickets to dreams is the greedy folly of scumbags.
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