1. set dbcache to 6 or 8 GB (assuming you're running your OS directly, not in a VM. reduce that if you're using a VM)
2. set blocksdir to a directory on your HDD
3. set datadir to a directory on your SDD

put a text file bitcoin.conf in datadir, put those settings as lines in bitcoin.conf (default datadir is different depending on OS)

that will speed up the syncing

right, any conducting surface exposed to air must be gold. The manufacturers are incredibly sparing with the gold to keep unit price down.



it's possible, although I predict a long term gold price crash would promote a short (and painful ) era of people using gold for everything and anything

1. schnorr and MAST literally do change how efficiently space is used
2. you know that already

why are you telling us that space efficiency is not scaling, when that's what the defintion of changing the scale _is_

1. check out lightning mailing list, they're discussing a solution to that basic problem

2. if you don't want bigger nodes to force you into doing something you don't want, don't use them. There are thousands of nodes already, and the total liquidity is still very low. There will be ample opportunity for people with good intentions to run LN nodes, and those people will have their good reputation rewarded

3. why would everyone close their channel at the same time? That would take extraordianry co-ordination of every single person on the LN


Lightning reduces the need for onchain transactions by thousands of times, that increases overall capacity beyond anything that could feasibly be achieved on-chain. Settling off-chain will happen increasingly less as Lightning protocol matures, i.e. most of the money entering channels will stay in channels.

So saying "Lightning depends upon on-chain capacity" is very true now, beacuse 1000BTC is a low amount of BTC to serve everyone's needs. Later on, that amount will be much higher, settling will be less necessary, and so on-chain capacity will barely impact Lightning usability (and on-chain capacity will be massiely freed up anyhow, because small and frequent transactions are cheaper & faster off chain)  

---

you need to become much better informed about lightning before you can attempt the role of providing others with information

the thing about gold's value is that it's driven by inelastic demand. people that want gold want it absolutely, at any price. the price premium on gold is therefore huge in comparison to it's utility value, i.e. gold is an excellent electrical conductor, but the demand for it as a store of value is so incredibly high in relation to it's utility value that using gold for electrical purposes is far more expensive than the difference between gold's price and copper's price.



remember that Bitcoin has something that fiat will never do: programmability

maybe one day we'll be able to pay banks or payment cards people for the privelege of being able to add conditions to transaction on the banking network (this exists in a limited way already, and of course banks nad big companies exercise alot of control over how it works).

maybe it won't matter then, as everyone will already know that they can write more powerful programmable cryptocurrency transactions without having to pay someone else to do it for them.

rebalancing should be free in channel factories, so eventually that cost goes away

then, the incentives are skewed towards running a personal node. that only drives fees down, as everyone benefits from better connectivity, and low fee rates encourage connections.

this is why alot of people promoting other cryptocurrencies are putting alot of effort into talking about lightnings downsides: lightning being cheaper than their coin in a clear and simple way makes their sales pitch harder

right

"I disapprove of unethical clikcbait, here's a link to some"

this entirely demonstrates governments are simply thuggish mafias.

Not in our territory, just close? We'll write some official language on some pieces of paper, and use those pieces of paper to justify murdering you

wallets can be set up to manage channels without user doing anything



no, it tends to almost zero. this is because the costs of running an LN node are almost zero. But it's not zero, it's a tiny bit more than zero.

you seem to be complaining that it's cheap to use and that LN nodes being in a competitive market is what makes it so cheap to use? sounds like a good thing to me

difficult to take you seriously

recently, you were whipping up FUD about "somthing bad" that's going to happen to Bitcoin.... in the year 2100

ugh, you're right (shouldn't go on Dev & Tech board when drunk or tired )

corrected

if you have any address in a bitcoin core wallet file, you can do this:


the public key for a given address isn't written to the blockchain until after the address (i.e. the publick key hash) has been spent from



that looks like 160 bits length, not 256 bits length. Public keys are SHA256 hashes 256 bits long, which makes them visually distinct in length compared to ripemd160 hashes.

ripemd160 hashes are this long (20 bytes): d59cfd295c3ac1160058148c0df2033a5ba2f955
SHA256 hashes are this long (32 bytes)    : 03664c1df2953630fbec0293c9fe78c891e40b9a92427bec71782a74e13bc1dac6

...and they're always that long, because they're always the same number of bits/bytes

Fridges are more secure if they're not connected to any external system.

If you want to buy electricity from someone, you:

• ask them
  
• they ask you how much you want
• you tell them
• they tell you a price
• you say yes or no
• if yes, you establish the supply somehow

where and why does blockchain tech appear in that sequence of events?



it sounds dumb

neither he nor Circle have ever contributed anything to the cryptocurrency industry, zero

Lightning transactions are already pretty private.

This looks alot like PR to push this new company's brand name, never even heard of Bolt labs until today

That is step 1. Do this first.

Bitcoin Core must be completely synced before you start Armory.



Armory won't finish creating it's database if Bitcoin is not synced



This is the problem.

1. Find the option in Armory preferences that switches off automatically launching Bitcoin (it's a checkbox beneath the setting that specifies the location of Bitcoin's folders). Switch it off.
2. Make sure the folder for the Bitcoin data is set correctly. On Ubuntu, it should be /home/<KBLUBAUGH's Ubuntu user name>/.bitcoin

why does a fridge need to be "on the blockchain" for that to be possible

the amount of BTC that merchants convert to fiat is chosen by the merchant which use these payments companies

are you claiming to know the details of every BTC transaction this merchant will ever make, in the remaining entirety of space-time?

Segwit's not doing a good job of "ignoring most transactions", because most transactions are not segwit. That was how this little debate started. you saying segwit failed due to low uptake.


You're a big fan of non-sensical arguments:

• segwit ignores most transactions
• most transactions ignore segwit

both those things are true, depending on which version of "everything is segwit's fault" you're trying to argue

not sure. My recollection is that Circle quit Bitcoin altogether long before the whole S2X thing started up (presumably in part a PR move trying to mend their poor reputation in Bitcoin).


Circle was always a presumed financial industry front, they were stuffed full with former Goldman Sachs employees (and the Bitcoin XT devs famously went to go and work for.... Circle). Allaire is a former banking industry employee.