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17701  Bitcoin / Bitcoin Discussion / Re: BU (Bitcoin Unlimited) and ETF Newbie questions on: March 07, 2017, 08:27:56 PM
Repeating BS is still BS.
Why do you think that repeating old lies makes them true?

calling someone a liar . but no technical rebuttal is just wasting your own time.
all i say to you is
[yawn]... oh look a tumbleweed blowing down the road.

try spending time learning about bitcoin and less time just mouthing off. it will actually help you to learn bitcoin so please learn it

remember "its bad coz its bad" is not a valid argument.
17702  Bitcoin / Bitcoin Discussion / Re: What happens if BU fails VS What happens if SegWit fails on: March 07, 2017, 08:24:38 PM
How would BU prevent malicious actors gaming the system, by running lots of nodes with restrictive settings? It would be a node race trying to set the consensus.

your talking about the same threat as what could have happened over the last 8 years by sybil attacking the network with lots of 500kb limit nodes
17703  Bitcoin / Bitcoin Discussion / Re: What happens if BU fails VS What happens if SegWit fails on: March 07, 2017, 08:14:46 PM
Here is one idea of scalability and transaction rate. It's quite old:

https://bitcointalk.org/index.php?topic=532.msg6306#msg6306

For it to work though, I don't think we can allow blockchains demand to exceed capacity, or for mempools to forget transactions for bitcoin service providers, or for nodes to be selective on the transactions they relay.

many dynamic blocks are envisioning including a 'speedtest' algo that tests their effectiveness to notice a new block download it, validate it and relay it out and set a score of start to end.
then use that to help flag the upper limit. they will accept which becomes consensus.h
where by they then have the lower limit policy.h has the prefered size as acceptable safety which can automaticaly grow at need BELOW the ultimate limit

this using the network consensus by x% flagging big no no to Xmb pools wont then make Xmb. thus not killing off nodes. and where nodes abilities as technology and telecommunications improve over the years allows the network t grow at an acceptable natural and progressive amount

(EG raspberryPi3 even behind the china firewall can handle 8mb blocks.. so a 8mb consensus.h and a 2mb policy.h to begin with which can increase naturally upto 8mb without having to manually do anything)
meaning pools would then go from 1mb.. and try 1.001mb to test the water and increment to say 1.99mb before worrying about orphans. and then the automated moving of the policy.h can occur. all while blocks are way below 8mb

do not be fooled by the "visa by midnight" "gigabyte by midnight" "servers by midnight" rhetoric that blockstreamers are spewing out when they exaggerate satoshis words to fit a fake narative that bitcoin needs to commercialise and centralise to survive
17704  Bitcoin / Bitcoin Discussion / Re: BU (Bitcoin Unlimited) and ETF Newbie questions on: March 07, 2017, 08:02:13 PM
So in summary from reading all these replies that BU is bad. It is bad because BU is trying to take over BTC by manipulation? So BU is not truly decentralised?

your listening to sheep that are just saying its bad because it is not allowing blockstream (private company) to centralise the network.

BU wants to keep the network open. and work on the same playing field (network) as others.. only blockstream(segwit) are the ones that want centralisation and commercialisation where blockstream are kings.

its worth you spending time learning about bitcoin by learning the meaning of this word as your starting point of bitcoin:
consensus

dont just read the 30 second elevator scripts thrown around on reddit. learn about bitcoin and try to not be sold by the empty gestures of fake blockstream scripts
17705  Bitcoin / Bitcoin Discussion / Re: Why Bitcoins is now same as paypal(and worst) on: March 07, 2017, 07:49:15 PM
If bitcoin is going to compete with Visa and MasterCard, or even Paypal, boosting the blocksize is not going to do it. Going to a blocksize that gives 30 or even 300 TX/sec is still far too little. So we need to accept the reality of off-chain TX and figure out the best way to do those TX within the spirit and protocols of bitcoin.

Whether it is Segwit/LN, or merchants tying up with exchanges (I'm basically certain Purse is not doing an on-chain TX when I shift funds from my Coinbase account to my Purse account, for example), off-chain TX are going to be dominant going forward. The "big block" folks don't seem to be looking beyond the immediate fee crunch and are not offering a good roadmap, unless the map is for Bitcoin---> oblivion while other cryptos rise in its place.

oh here we go again "visa by midnight" scare stories

bitcoin will not compete against visa, mastercard or paypal overnight.. even with LN

bitcoins user adoption is natural slow adoption over years not hours.
halting natural growth onchain for the last 2 years using fake rhetorics about visa is FOOLISH.

bitcoin should be allowed to grow NATURALLY onchain progressively over decades. where by LN is just a side voluntary service.
halting all onchain growth for years is not about helping bitcoin achieve better scaling. its about frustrating users into blindly accepting the "elements/lightning" commercialised version of LN service as the end goal and only option blockstream will allow

LN (the many non blockstream/elements/lightning ) versions DO NOT NEED segwit, and can work as voluntary side services.. not essential end solution
17706  Bitcoin / Bitcoin Discussion / Re: Why Bitcoins is now same as paypal(and worst) on: March 07, 2017, 07:31:12 PM
Because people simply don't agree to implement BU as they see SegWit as the only right solution. If people accept BU, it basically means that an entity can force through their own vision in Bitcoin at any time. If so, then right now it's BU, after that we'll see Bitcoin Real, after that Bitcoin Extreme, etc. Do you think that's a good thing for Bitcoin? We shouldn't accept such a thing to happen and thus should support SegWit.

your mixing your attacker

going soft can force though blockstreams own vision..
thats why they need segwit
to force through a special biased commercial version of "elements/lighning" LN
force through Schnorr
force through mimblewimble

but they use 'softer' words to stroke you to sleep to make it not seem bad.

bitcoin should user real CONSENSUS. not bypassing it to add in any crazy feature without nodes able to vote or veto it.
17707  Bitcoin / Bitcoin Discussion / Re: Why Bitcoins is now same as paypal(and worst) on: March 07, 2017, 07:14:29 PM
guys dont get excited about LN

LN feature: CLTV maturity = equivalent of 3-5 business delay in spending funds AFTER withdrawal from service
LN feature: CSV revokes = equivalent of second party chargeback AFTER withdrawal from service
Some regulators we can meet at crypto conferences believe bitcoin must simply change. That regulation is necessary to bring it in line with other payment systems.
I heard voices suggesting that we need to add identity information and chargeback to bitcoin transactions and make it possible to blacklist funds.

I obviously don't like the idea, as I think it is outright crossing the line, but we can't deny there is possibility for such 'dirty' move in the future.

in detroit.
when a drug dealer sells drugs. does that now make the grocery store liable for later selling a drug dealer a carton of milk because the drug dealer bought milk using drug related money.... simply because the grocery store didnt KYC every customer that buys groceries
Cheesy Cheesy

regulations do not stop drugs or crimes. regulations just make governments life easier to grab free cash after a crime without having to do the investigation. by making private businesses do all the paperwork for them
17708  Bitcoin / Bitcoin Discussion / Re: What will happen to Bitcoin if IMF & World bank create ON WORLD Currency? on: March 07, 2017, 06:48:16 PM
I don't see this happening soon. Governments currently love their fiat and there are influential people who make most of their money from trading currencies,  they won't easily let this happen. Not to mention how hard it is to implement. When you lump economic powerhouses like Germany with laggards like Greece and make them use the same currency, you're going to have problems. Recent developments in the EU would definitely make other economic blocks like GCC and ASEAN think twice before adopting a single currency.

IBM highly involved in hyperledger
http://www.the-blockchain.com/2017/02/02/nine-ten-governments-investing-blockchain-2018-says-ibm-study/
Quote
government organizations across the globe are exploring use cases for Blockchains that can impact their jurisdictions.

the IBM Institute for Business Value surveyed 200 government leaders in 16 countries on their experiences and expectations with Blockchains.

nine in ten government organizations plan to invest in Blockchain for use in financial transaction management, asset management, contract management and regulatory compliance by 2018.

IBM discovered a small group of pioneers that are setting a fast pace and new direction with Blockchains today.


http://www.coindesk.com/central-banks-hyperledger-blockchain/
Quote
The Bank of England and the Federal Reserve Bank of Boston are among 11 new members of the Linux Foundation-led Hyperledger blockchain initiative.

The slate of new members includes health care group Kaiser Permanente, the academic research group Initiative for CryptoCurrencies and Contracts (IC3) and China Merchants Bank. Among the startups that joined is Monax,


http://www.ibtimes.co.uk/hsbc-bank-america-merrill-lynch-use-hyperledger-project-blockchain-based-trade-finance-1575269
Quote
Bank of America
Merrill Lynch,
HSBC

and the Infocomm Development Authority of Singapore (IDA) are using a blockchain prototype to streamline the paper-heavy world of global trade. The consortium used the Linux Foundation open source Hyperledger Project blockchain fabric, supported by IBM Research and IBM Global Business Services.
17709  Bitcoin / Bitcoin Discussion / Re: BU (Bitcoin Unlimited) and ETF Newbie questions on: March 07, 2017, 06:30:00 PM

Here we have Franky1 again, spewing out FUD with 3 post on the first page. It doesn't matter if you copy paste walls of text, mixing things together, BU is just a cheap alternative.

You must be a miss-informend pessimist shill, paid by Roger.

^ here we have a blockstream defender who cannot rebut using code scenarios or real info but only rebut with personal attack.
[yawn]... oh look a tumbleweed blowing down the road.

please learn bitcoin
learn consensus
learn coding and come back with some logical rebuttles about how bitcoin actually works.

but to address your point about "a cheap alternative" while also using words of your king..

using gmaxwells words(not verbatim)
'BU is just a core 0.12 copy and paste job with a few minimal changes...'

well thats just proof that offering more capacity doesnt require a total game changing re-write of the entire thing, doesnt require "upstream filters" doesnt require new keys, doesnt require users moving funds to new keys just to see a feature function, doesnt require intentionally banning nodes.
17710  Bitcoin / Bitcoin Discussion / Re: What happens if BU fails VS What happens if SegWit fails on: March 07, 2017, 06:19:41 PM
So chilled with laudbankbraking words:

BU is much more Satoshi consensus like than anything else (= hacked agenda stuff ) we ve seen before?

 Grin

using gmaxwells words(not verbatim)
'BU is just a core 0.12 copy and paste job with a few minimal changes...'

well thats just proof that offering more capacity doesnt require a total game changing re-write of the entire thing, doesnt require "upstream filters" doesnt require new keys, doesnt require users moving funds to new keys just to see a feature, doesnt require intentionally banning nodes.

 
17711  Bitcoin / Bitcoin Discussion / Re: BU (Bitcoin Unlimited) and ETF Newbie questions on: March 07, 2017, 06:03:23 PM
BU isn't a re-implementation of Bitcoin, it's an attempt to change the rules of Bitcoin,  

segwit block looks nothing like a native bitcoin block data
segwit keys look nothing like native bitcoin keys
segwit nodes treat native nodes differently
segwit nodes treat native blocks differently

segwit avoids node consensus
segwit requires nodes to filter(translate) segwit blocks
segwit requires being centralised to be the upstream filters
segwit require getting people to move funds to segwit keys just to disarm those volunteers. while still leaving native users armed



all BU(or any dymanic block proposal*)does is change what is the acceptable blocksize miners can build.. but automated
meaning the data looks the same, the nodes relay the same, the tx's are the same. it just allows more of it with a few other efficiency tweaks

*note:
there are other dynamic block proposals, but most wont hear about them because they dont get passed the blockstreams moderated censorship wall to be seen on blockstreams moderated bip list
17712  Bitcoin / Bitcoin Discussion / Re: Something Odd Is Happening at Bitcoin’s Largest Mining Pool Read more: http://w on: March 07, 2017, 05:44:40 PM
So thinking there going to be always full blocks filled up to maximum capacity is wrong, its the miners who decide what transactions to add and some define spam as for example under 25 Satoshi/byte transaction not worth adding even if there is available space.

you can thank the pools that support blockstream for that possibility of occurance.
the removal of reactive fee acceptance ( natural demand) and sticking to blockstreams 'average fee' relay rules. means even in low demand average fee estimate rules are still high. leading to ignoring certain low fee tx's during low demand
17713  Bitcoin / Bitcoin Discussion / Re: Why Bitcoins is now same as paypal(and worst) on: March 07, 2017, 05:25:00 PM
guys dont get excited about LN

LN feature: CLTV maturity = equivalent of 3-5 business delay in spending funds AFTER withdrawal from service
LN feature: CSV revokes = equivalent of second party chargeback AFTER withdrawal from service
17714  Bitcoin / Bitcoin Discussion / Re: BU (Bitcoin Unlimited) and ETF Newbie questions on: March 07, 2017, 05:19:13 PM
BUcoin may fork, but ultimately people will dump their BTU for BTC. BUcoin will be another marginal altcoin with stagnating price and marketcap as the developers can't keep up with the Core devs.

calling it a BUcoin is more reddit script drama. because blockstream dont want to admit that BU, btcd, bitcoinj, xt, classic and a dozen others as part of bitcoin

BU wont cause a bilateral split.. nither would the other nodes that want to happily have one network and use real consensus to grow as one progressive network
blockstream will have to cause the split.(but are delaying it to try poking the bear to get others to do the dirty work so they can fakingly play the victim card of the crime they want committed)

its obvious blockstream will and it seems blockstreamers want to split.
so it will be blockstream that will cause "cause havok just like ETH/ETC"

and blockstream seem to love the idea of it
17715  Bitcoin / Bitcoin Discussion / Re: BU (Bitcoin Unlimited) and ETF Newbie questions on: March 07, 2017, 05:16:41 PM
carlton wants it to be an altcoin. simply so that blockstream have 100% control of their 30% altcoin which will simply become known as clams2.0

its only blockstream that want to split anything not blockstream..

other implementations want to keep the network together and use real consensus and all work on the same playing field.
no matter how much blockstreamers want to call anything not blockstream accepted as an altcoin. the only way it becomes an altcoin is if blockstream themselves do the splitting off..

which is becoming more and more apparent as to what blockstream is looking to do with
What you are describing is what I and others call a bilateral hardfork-- where both sides reject the other.

I tried to convince the authors of BIP101 to make their proposal bilateral by requiring the sign bit be set in the version in their blocks (existing nodes require it to be unset). Sadly, the proposals authors were aggressively against this.

The ethereum hardfork was bilateral, probably the only thing they did right--

UASF (reality its a hard bilateral fork)
I still don't understand UASF, since the node count can be easily gamed. What else can be done?
Run a custom Bitcoin client that refuses to relay blocks that don't support Segwit.
Not playing with these people, I would be perfectly happy to kill Antminer, Antpool and any others who want to treat the activation mechanism as a political tool.

I suggest we do it, Jihan Who can go into the paperweight business instead
17716  Bitcoin / Bitcoin Discussion / Re: What will happen to Bitcoin if IMF & World bank create ON WORLD Currency? on: March 07, 2017, 04:49:01 PM
How many countries do you know that would give up their local currency for some one world currency and what would be the benefit of that?

You have seen what happened to the Euro when some of the smaller countries economies failed.... the Euro suffered. Can you see Muslim

countries accepting the same currency as their enemies? .....North Korea using the dollar?  

countries wont want to give up their 'local currencies' but they will join together their SWIFT, RTGS and other transfer mechanisms to get a more practical, efficient and secure method of transporting value.

but in my mind let the banks play with their closed door fiat networks.

and let bitcoin be separate as the open currency for anyone to have without all the barriers and headaches or worries of government seizures simply for not paying tax on time or having a bank charge. due to them not having privkey access to funds be default
17717  Bitcoin / Bitcoin Discussion / Re: What will happen to Bitcoin if IMF & World bank create ON WORLD Currency? on: March 07, 2017, 04:45:29 PM
As I have read the idea behind a world currency it's not new and has been a matter of discussion of many people worldwide the last years. There is an article in 2009 IMF blog about a world reserve currency after the US Dollar. Even though is quite old it refers to a truly global currency which could be a store of value disconnected from local currencies and their inherent problems. I do not think that it was by chance in January 2009 the creation of the genesis bitcoin block. On the other side it's quite obvious that governments and banks will not let bitcoin to dominate as international currency. For this reason there are already some tries from banks to create their own digital cash using private and centralized blockchains. Who will be the winner is difficult to say. But if we remember something that known entrepreneur Antonopoulos Andreas had said that in the last we will win.

...a world "reserve" currency detached from local currencies...
check out the swaps the IMF are doing.. using .. SDR's. which are then converted to local currencies.
this too will be sidechained near the top of the hyperledger pyramid

but does not mean all local currencies will go and everyone just trading goods for crypto SDR's
17718  Bitcoin / Bitcoin Discussion / Re: What happens if BU fails VS What happens if SegWit fails on: March 07, 2017, 04:12:45 PM
If segwit reaches locked-in, you still don’t need to upgrade, but upgrading is strongly recommended. The segwit soft fork does not require you to produce segwit-style blocks, so you may continue producing non-segwit blocks indefinitely. However, once segwit activates, it will be possible for other miners to produce blocks that you consider to be valid but which every segwit-enforcing node rejects; if you build any of your blocks upon those invalid blocks, your blocks will be considered invalid too.

This is the general behaviour of a soft fork: if a majority of miners adopts a soft fork, as a minority miner, you have no choice but to follow, or become insignificant.

what your quoting of my quote of a quote.. is:
1. breaking the "backward compatible" promise - yea i laughed reading they will literally want to ban blocks because they are not segwit branded even if the data was valid

2. causes a split in the network. yep i laughed that even going soft can cause a bilateral split. breaking the promise that going soft avoids such drama
17719  Bitcoin / Bitcoin Discussion / Re: What happens if BU fails VS What happens if SegWit fails on: March 07, 2017, 04:09:16 PM
so you're saying the basic idea of emergent consensus that the core devs are pretending to be so freaked out about and claiming is so 'radically different'  has actually been done already...

emergent consensus  (BU specific proposal of dynamics) has not been around since day one because BU hasnt been around since day one. then again core hasnt been around since 2009 either. (it was satoshi-qt prior to 2013)

but the whole thing about "excessive blocks"(BU specific proposal) is about making policy.h more important as the lower threshold and the "FLAGGER", while making it more automatically moveable.. rather than manually movable.

in the past 2013 sipa and core devs had to manually move the policy.h and so did pools.. though nodes were not really using policy.h as the node validation of block rule. pools were reliant on it.

infact early clients had 3 layers
protocol =32mb
consensus=1mb
policy <500kb
in the early days
17720  Bitcoin / Bitcoin Discussion / Re: What happens if BU fails VS What happens if SegWit fails on: March 07, 2017, 03:55:45 PM
Neither has been tested on the main net.

Segwit is much more complicated which is why it required so much testing even on test net.
BU is by comparison a much simpler change.


dynamics has been tested actually..
though 1mb was the limit (in consensus.h).. much like some dynamics propose to move this to 16mb(in consensus.h)

pools have been dynamically moving their preferential block sizes since 2009.. (in policy.h) 2013 was below 500kb in 2015 it was below 750kb

so much like the many dynamic block proposals that want to elevate (in consensus.h) to 4mb, 8mb, 16mb, 32mb whatever.. there is and always has been a second limit that is dynamically moved below this(in policy.h)...

some proposals want the policy.h to have a bigger usefulness for the nodes. where the nodes flag to allow or not allow pools to go beyond X policy.h maxblocksize

good example of a previous event:
just imagine the headache if we stayed at 500kb blocks when Sipa done the leveldb bug event..
as thats the reality of the debate today. the same as the "do we go above 500kb in policy.h in 2013 eventhough consensus.h was 1mb"

p.s
my node and many other nodes have a consensus.h of 8mb right now and my node in particular has a policy.h limit of 1mb (and a few tweaks to validation) .. and im not having any problems
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