What you speak of is not the Bitcoin I consented to use. K THX BYE

Do you accept bitstamp coupons?

The only answer I can envision for the >50% attack threat is a change in the proof of work concept where the most computational work alone is not enough to gain the ability to overpower the network and some other math based condition must be met that can be easily achieved the first time, is counterfeit proof and can't be easily reproduced while still following the rules.

What that is I have no idea.  

I would sleep like a baby with a wallet created following the steps I outline here: http://www.reddit.com/r/Bitcoin/comments/16fxfd/how_do_i_secure_the_living_shit_out_of_my_wallet/c7voymq

This video really pissed me off today. I started watching it when it turned up in my subscriptions because of the title and once I got like 3-4 min in and saw that they were talking about all kinds or random stuff except Bitcoin I started reading the descriptions and when I got to the above quoted part I just closed it in disgust.

I really don't need another technophobic old fart telling me why he doesn't understand the digital world.  

Besides one could sell 1 BTC for 100.000.000 and completely invalidate the whole graph if it was USD on both sides.

A confirmation is irrelevant if a full client cannot validate a block or one of the transactions inside of it because such a confirmed block would simply get ignored.

Your opinion is irrelevant if the facts don't support it. I only stated the facts.

Incorrect.

If you install the full node client called Bitcoin-Qt (http://bitcoin.org/) it's not just a dumb wallet because it also checks that every block you receive and every transaction that block contains follow the agreed upon rules. If it they do not it does not matter if miners validated that block and those transactions, your client will ignore them and ensure it is following strictly the rules you agreed to by downloading it. It's a big reason why even though a minority of users "mine", Bitcoin is still completely decentralized and no one or no one group of people can force any changes (like some would like to) on everyone else.

Sure thing, and thank you for your reply.

Could you give us a brief "How it works" description? What exactly it can do and how it does it?

You know, instead of just developing, try to sell it. And I'm also interested why you think you can't make a profit with an open source project, if you want ideas, contact me and maybe I can help you.

Precisely!

Any why exactly would we want unconstrained competition between miners? Don't you understand that while yes the fees would always be above their marginal costs only those with the lowest costs would survive driving the costs lower and lower and also driving the fees ever lower? Do you really want to have a handful of big miners have control over the entire mining collecting almost no fees?? Do you really want them to spam the blockchain beyond what a regular users can afford to run a full node on and lose all full nodes and with them the decentralized nature of Bitcoin?? Do you not understand how a limitd block size protects the security of the network from the tragedy of the commons once the subsidy runs out?

The answer is not and never will be unlimited size of blocks.

The answer will be a compromise in the form of a small raise or an automatically adjusting algorithm but only if we also get a light client that can still validate the rules needing only a pruned blockchain.


Just so you know: Lifting the limit entirely and bloating the blockchain past what my 1TB disk can handle for the next 5 years will definitely cause me to lose all faith in Bitcoin and simply move on. And I assure you I'm not the only one.

Yeah New Hampshire is awesome and I too am strongly considering eventually moving there. The only big reasons I can think off why I wouldn't is 1) the cold because I hate it wit ha passion 2) their federal government and the IRS down right scare me 3) I think the cost of living there is pretty high

Man you can just see how Jeffrey is really excited about Bitcoin and where it could bring us which I can understand since I share the same excitement ever since I found out about it! 

That would only be possible if we had no facts to support our theories, we do however have plenty of facts. He is dead wrong I'm afraid. Dead wrong.

Adam, I don't think we need another topic with this crap so please stick to this one: https://bitcointalk.org/index.php?topic=149870.0

I'm locking this thread.

And that really is the only part of their rejection that really bothers me.

I actually think this could be beneficial since I imagine it would bring about more wariness and scrutiny which I think is exactly what we want with new code.

Personally I don't care about Luke as far as his beliefs go. As long as people check his work, and I have no doubt all dev's work is checked not just Luke's, I don't mind what he wants if he leaves me alone.

Democracy is a battlefield. It's the majority oppressing me, robbing me and ultimately threatening to kill me if I don't do what they say. Just because I constantly tactically retreat does not mean I'm not in a fight.

They are if their different opinion is that they should beat you and even kill you whenever you refuse to do something they say.