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601  Economy / Securities / Re: ASICMINER Speculation Thread on: June 18, 2013, 03:48:26 PM
What would the net effect be of a 5M max block size
It would allow for, but not necessitate, 5 times the blockchain size rate of increase and 5 times the transaction rate.

reward halving
The reward has no effect on the block size, except for the fact that it increases the importance of fees.

and difficulty retarget of 1 block/5 minutes?
These are conflicting things. The difficulty retarget happens every n blocks. The block rate is a (blocks / minute) number.
602  Economy / Securities / Re: ASICMINER Speculation Thread on: June 18, 2013, 03:26:21 PM
Thanks for the follow-up.

Maybe I'm a bit simple minded, but I do not see how this directly correlates to the BTC USD exchange rate.

I do appreciate the info, however.
Visa handles, at peak, ~4000 transactions per second. With Bitcoin, there are multiple solutions, but none of them involve doing nothing and continuing to use the blockchain alone:

- Move most transactions off-chain
- Increase MAX_BLOCK_SIZE
- Increase blocks per day
- Make smaller transactions somehow
603  Economy / Securities / Re: ASICMINER Speculation Thread on: June 18, 2013, 03:10:22 PM
I've got no horse in this race, but I believe BTC's max is currently 7 T/S

Follow-up question -- why is there a 7 transaction/s limit?
10min blocks* -> 6 blocks / hour
(6 blocks / hour)(1 hour / 3600 seconds) = 0.0016667 blocks / second

Max block size = 1 MB
(0.0016667 blocks / second)(1 MB / block) = 0.0016667 MB/s
(0.0016667 MB / second)(1,000,000 bytes / 1MB) = 1666.7 bytes / second

According to dooglus, there are (in*148 + out*34 + 10 plus or minus 'in') bytes in a transaction. This equals a minimum tx size of 180 bytes, and a 1-input 2-output minimum size of 225 bytes. Example.

(1666.7 bytes / second)(1 tx / 180 bytes) = 9.26 tx/s
(1666.7 bytes / second)(1 tx / 225 bytes) = 7.41 tx/s
Most transactions are bigger, so these are high estimates.

*Note that an ever-increasing hashrate (like the current scenario) means blocks are generated faster, on average, than once every 10 minutes, and a decreasing network hashrate would slow block creation. This is due to the fact that difficulty is only calculated periodically (every 2016 blocks).
604  Economy / Services / Re: Rent out your signature! Up to 0.25 BTC / month on: June 18, 2013, 02:18:34 PM
You're incentivizing people to make 50 posts per day?
605  Other / Off-topic / Re: Coding humor on: June 18, 2013, 02:09:28 PM
Quote
In Objectivist-C, there are not only properties, but also property rights. Consequently, all properties are @private; there is no @public property.
This one got me Cheesy

In Objectivist-C, all objects can be subclassed.
Objectivist-C cannot be compiled by a libertarian compiler.
606  Bitcoin / Hardware wallets / Re: [PREORDER] Trezor: Bitcoin hardware wallet on: June 18, 2013, 01:54:31 PM
I have a doubt about the construction of the operation and confirming the information on the Trezor.
The images and videos I saw so far show that Trezor displays the address you send money to and the amount you send, but there are several things in that transaction that a malicious client (modified by an attacker) can modify and I need to review in the Trezor in order to accept the transaction.

My doubt is, how do I know when signing on the Trezor that the fee is not incredibly high or the change address is not mine (attacker redirecting the founds to another address)?
I think, and hope that Trezor would display all inputs and all outputs
I'd hope for Trezor to spit out the signed raw transaction, without the computer automatically publishing it, so you can decoderawtransaction just to make sure. Of course the software would display it in a very user-friendly way, so the grandmas wouldn't have to actually use the debug console / bitcoind.
607  Other / Off-topic / Re: CoinLenders :: Get bitcoin loans, and earn interest on your deposits! on: June 18, 2013, 01:38:18 PM
EDIT: Also, r3wt was previously banned more than a month ago for spam on coinchat. He came back under the name "Nimda"
So that's why...!
Bastard...
608  Economy / Long-term offers / Re: Need a $650 USD Loan For 6 Months on: June 18, 2013, 04:00:04 AM
Assuming you live in the US, you can legally get certain jobs at 14. Whether or not there are actually jobs available will depend on where you live.
609  Economy / Scam Accusations / Re: Phinnaeus Gage scammer tag request on: June 18, 2013, 03:11:18 AM
I'm open to different interpretations, though.
With about as much seriousness as 1/3 of a duck:

BFL was incentivized by the donation offer.
This caused them to expend significantly more resources (valued at almost $200) to ship faster. (You might not believe it, but they were going to ship later)
Without this timely donation, harm has been caused to them (see value above) by Phin's broken promise.

Broken promise (fraud) + monetary damage = scam!!!1 Shocked
610  Economy / Securities / Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx on: June 18, 2013, 01:18:54 AM
By the time you actually win, the betting pool would look something like 12k BTC at least. Unless of course you are extremely lucky and win in a few play.
100% of profits are paid out to shareholders. How the betting pool is funded mid-month is unclear.
611  Economy / Securities / Re: S.DICE - SatoshiDICE 100% Dividend-Paying Asset on MPEx on: June 17, 2013, 09:12:45 PM
Again, not a shareholder, but S.DICE holders might wish to know:

Eric stated that the betting pool was 6100 BTC.
The lessthan 64 bet has a payout of 999.429x and a max bet of 6.4100 BTC.
999.429 * 6.4100 = 6406.33989

6406.33989 > 6100

That is all. Draw your own conclusions. I am not a laywer or broker, and this is not financial advice.
612  Economy / Scam Accusations / Re: Phinnaeus Gage scammer tag request on: June 17, 2013, 07:18:36 PM
Welcome to dramatalk, where the scammer tags don't matter and everything is illegal Kiss

I want to thank Phin for always being absolutely ridiculous in his characteristic deadpan manner. I imagine if held at gunpoint, he would begin to talk about some failed deal involving 3 laptops and half a duck.
613  Bitcoin / Bitcoin Technical Support / Re: Is it possible to generate the same adress twice? on: June 17, 2013, 06:50:02 PM
Everyone it seems in agreement. Yes its possible but no, it's so unlikely there is no need to worry about it.

OK but wouldn't it be fairly simple to have an automatic check within all the clients and a simple prompt ..
 'this key pair already exits please try again'

Getting Deja-vu on this topic but its nice to rehash once in a while.  Wink

It would be better if it said "Bingo!  You've found someone else's address -- transferring all their funds now"
And then told you, "Due to the incredibly small chance of this happening naturally, this event probably represents a fundamental flaw in the way Bitcoin addresses are generated. Sell all your coins and warn your close friends, then notify Gavin Andresen."
614  Economy / Securities / Re: Starting a new FPGA mining farm/contract! Cognitive Resurrected on [BTC-TC] on: June 17, 2013, 01:48:33 AM
If we can get in on this in the next 4 days: https://bitcointalk.org/index.php?topic=235329.msg0;topicseen#new
Could be very beneficial. Face value 16 BTC, min bid (as of this post) 1.75 BTC
615  Bitcoin / Project Development / Re: [ANNOUNCE] Bitmessage - P2P Messaging system based partially on Bitcoin on: June 16, 2013, 05:39:20 PM
Another question - backing up the address book. How do I do that. Couldn't find an obvious address book file.
The address book is, uh... in messages.dat. Don't ask me why.

As for upgrading with git, you can "pull" or you can "fetch" and "merge."
616  Economy / Service Discussion / Re: Satoshi Dice -- Statistical Analysis on: June 16, 2013, 01:21:30 AM
Woah, dooglus, you're making a dice site? Huh Shocked Cool

Not sure I like the secret-in-url idea a la instawallet...
617  Economy / Long-term offers / Re: ♔ RUSTYRYAN's 3.0% Weekly Term Deposits ♔ on: June 15, 2013, 10:33:18 PM
^ lol
618  Bitcoin / Bitcoin Discussion / Re: How do you transfer Bitcoins without an Internet connection? on: June 15, 2013, 09:48:13 PM
I remember when they used to say the highest bandwidth connection was a station wagon full of tapes on the highway.
For large amounts of data, SSDs on a plane is still more efficient than the Internet.
619  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: June 15, 2013, 02:47:29 PM
Uhh, guys...


this is the game plan for the next 364 days



100$ a coin Cheesy

 Shocked Shocked Shocked
620  Economy / Scam Accusations / Re: bit coins stolen on: June 15, 2013, 12:42:53 AM
On the other hand, what does the OP stand to gain from lying? Sympathy tips?
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