18081
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Economy / Service Discussion / Re: bitcoinfees.21.co is doing more harm than good.
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on: February 05, 2017, 06:15:45 PM
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The question is, spammers spammers
to save repeating myself from other topics this is about the "spam" cries. and a way to solve it using CODE. not fee's
though there are spam attacks. we need to truly stop using a umbrella term, in regards to calling lots of different types of transactions "spam". for me i consider BLOATED transactions that spend funds EVERY block an obvious spam attack. yet others treat simply spending less than 0.1btc a spam attack.(facepalm)
in a world outside of america/europe. 0.01btc for instance can be a weeks wage and 0.001btc can be multiple hours of labour. for the unbanked developing countries we should not be considering something spam, purely on the basis of how much is spent, but on bloated transactions and transactions that are spent too frequently outside what appears normal spending behaviour.
Im not aware of any others, i would suggest that in these times you just increase your fee, which sucks i know but it seems to be the only way.
fee war: 140/byte - https://bitcoinfees.21.co/= 0.00063000 for average 450byte tx ($0.65c) = 0.00031640 for leanest 226byte tx ($0.33c) Cuba see a lean tx costing 6hrs36mins minimum wage. see an average tx costing 13hrs minimum wage. Georgia see a lean tx costing 6hrs36mins minimum wage. see an average tx costing 13hrs minimum wage. gambia see a lean tx costing 2hrs32mins minimum wage. see an average tx costing 5hrs minimum wage. egypt see a lean tx costing 1hrs2mins minimum wage. see an average tx costing 2hrs5mins minimum wage. and so on anyone see the problem yet
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18082
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Bitcoin / Bitcoin Discussion / Re: Who to blame for the increasing transaction fee?
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on: February 05, 2017, 06:12:12 PM
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The core team already caused the issues regarding the transaction delay as well as the increasing price of transaction and if this continues like this you can imagine the amount of transaction fees they you need to input a couple of years from now.I think with the recent code changes the core are telling us that they do not want transactions onchain only commercial hub settlements.
fixed that for you
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18083
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Bitcoin / Bitcoin Discussion / Re: Who to blame for the increasing transaction fee?
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on: February 05, 2017, 05:37:29 PM
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this is about the "spam" cries. and a way to solve it using CODE. not fee's
though there are spam attacks. we need to truly stop using a umbrella term, in regards to calling lots of different types of transactions "spam". for me i consider BLOATED transactions that spend funds EVERY block an obvious spam attack. yet others treat simply spending less than 0.1btc a spam attack.(facepalm)
in a world outside of america/europe. 0.01btc for instance can be a weeks wage and 0.001btc can be multiple hours of labour. for the unbanked developing countries we should not be considering something spam, purely on the basis of how much is spent, but on bloated transactions and transactions that are spent too frequently outside what appears normal spending behaviour.
bitcoins 'priority' calculation are no longer appropriate, many pools dont even use it anymore. the calculation of: (value *age) / size. does not help anyone. because someone with 1000btc can respend multiple times an hour fee free. but someone with only 0.Xbtc has to wait weeks or pay a premium. victimising the poorer nations effectively thus it only makes it a calculation beneficial for the rich. the 'priority' calculation needs to change to be more about bloat and age. and not about value.
eg knowing that the blocksize limits how much data is allowed. a new calculation needs to have considerations of making there be a points system for blocksize vs tx size. more so then making the value the consideration changer so that the leaner the tx size is, the more points are rewarded. which when blocksizes increases. would make the leaner transactions earn more points for staying lean.
EG (blocksize/tx size)*age
txsize blocksize age result 226 1000000 1 4425 10min 226 1000000 6 26549 1 hour 226 1000000 46 203540 7h 40min 450 1000000 1 2222 10min 450 1000000 6 13333 1 hour 450 1000000 90 200000 15h 100,000 1000000 1 10 10min 100,000 1000000 6 60 1 hour 100,000 1000000 144 1440 16h 40min 100,000 1000000 20160 201600 5months
imagining where the priority target was 200,000 this means if super lean you can spend funds every 7 hours with priority. but being bloated (100k blocks) you have to wait months. this then makes bloated transactions PAY MORE to make up for the missing points.
it also means that rich spammer cannot bypass it by just moving a larger reserve for free. ofcourse my example can include extra variables. such as if people voluntarily put in a CLTV maturity of X blocks to show they wont respend for atleast X blocks (because CLTV prevents it) they can gain extra points too
EG ((blocksize/tx size)*age)*CLTV confirms. =((1000000/226)*6)*6 159292 =((1000000/226)*6)*7 185840 =((1000000/226)*6)*8 212389
which is an example of someone who naturally may want to spend every couple hours. where their funds are only an hour old. 226 1000000 6 26549 1 hour dont have to wait >6 more hours 226 1000000 46 203540 7h 40min they can just voluntarily tell the network they are happy to lock themselves into a 1hour 20minute maturity after the respend. =((1000000/226)*6)*8 212389 to get priority.
meaning if you volunteer that you are not going to respend those funds for 8+ confirms. you get priority. which mitigates the respend every block true spam. because this calculation averages a 2-3 hour respend acceptable natural human timescale.
it also helps by giving users an option to say it needs to be accepted sooner.(a true "hey guys i really need this to go through, but accept the punishment for this need) making the wait PRIOR to confirm less, by making the waiting time AFTER confirm, more. thus a way to show the network who actually NEEDS priority the most
though a bloat spammer can just put a mega long CLTV on a bloated tx to gain priority for their first tx, they atleast once confirmed the funds wont be respent fast due to the CLTV maturity needing to be met (no matter what the priority is of the second attempt, CLTV prevents respends until mature)
it makes it so that if you want to spend sooner (imagine its not maturity locked first) the sooner you want to spend the longer you have to wait to respend AFTER confirm. thus solving the wait for confirm 'trust' people getting paid dilemma EG if matured funds are only aged 3 blocks instead of 6. you have to volunteer not being able to re-spend then for 16 blocks instead of 8 =((1000000/226)*3)*14 185840 =((1000000/226)*3)*15 199115 =((1000000/226)*3)*16 212389
so that the faster you want to spend(after maturity) the longer you cant respend the second time. thus effectively stopping a spammer spending every block because they end up waiting atleast 2 hours before conditions are met
though my calculation is not perfect for every instance of utility. i think that usual / natural spending behaviour of only buying things once every couple hours is normal.. and mitigating the spend every 10 minute intentional spam. for those wanting to bypass this because they GENUINELY need to spend every 10 minutes.. (not intention spam, but a niche need) such as the small niche of day traders/faucet raiders/gamblers they can use the niche market commercial LN service VOLUNTARILY to get their many spends an hour.
thus having an equal balance of people that only spend lets say once a week that dont need LN can happily spend onchain. but those that do need many spends an hour can use LN... natural balance is restored
im sure someone can be inspired by my idea of changing the priority calculation. by adding in or using variables in a different format to achieve something better then my example calculation formula.. and be way way better than the current priority formulae
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18084
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Bitcoin / Bitcoin Discussion / Re: Who to blame for the increasing transaction fee?
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on: February 05, 2017, 05:29:37 PM
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It is not the ratio of Bitcoin to USD that is increasing but the rate of Bitcoin itself. 10k satoshi was a good enough transaction fee months ago but now it is more than 30k sat sometimes going above 50k sat. I think it is the people who want to get prioritized is to be blame. Meaning the user themselves. And it seems the coded script itself.
first of all there is no 'priority' there is just "pay more and hope" there are no guarantees of any transaction being accepted as a rule. there is no guarantee of if i pay X i get next block or if i pay x-10 ill guarantee to get into second block, x-20 ill get into third block. its all to do with lack of code. wher by the devs decided banker economics should be used more so than smart code rules. the switch to average rather than reactive fee mechanism the lack of a proper and more important functional 'priority' formualae the lack of holding pools to account about how they collate data. it all just leaves too many people with if's and maybe's a tx would get accepted we should not be relying on banker economics. bitcoins is suppose to be something that is not playing them silly banker games
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18085
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Economy / Service Discussion / Re: bitcoinfees.21.co is doing more harm than good.
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on: February 05, 2017, 03:54:54 PM
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http://bitcoinfees.21.co/ shows us the amount of fee that we are supposed to pay. + it doesn't decrease fee when mempool is empty and keeps it as high as it was before. + when mempool size is rising, it bumps the fee amount in big steps instead of smallest possible. (eg 101 s/b is bigger than 100 s/b but they suggest 110 instead of 101) yep and then there is also the "average" instead of "reactive" fee mechanism build into newer nodes. which biasedly keep fee's up even when there is low demand
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18086
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Bitcoin / Bitcoin Discussion / Re: Why is fee still high (6000 unconfirmed transactions)
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on: February 05, 2017, 03:24:09 PM
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take the way devs implemented the tx fee.. not only subverting coded methods of 'priority' which would have alleviated the war, but also using 'averages' which dont make the fee's drop reactively when demand is low. but actually keeps fee's up. even when one block is low demand. EG take a 25 block average.. imagine first 24 are 0.0001 and the 25th is 0.0025 then look at the 'average' after that.. even if demand was near 0 and no one was pushing the fee up.... the "average" itself pushes up yep even if blocks 26-75+ were near empty with just 2 tx's paying the estimate... the fee would rise try it yourself. get a spreadsheet
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18087
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Bitcoin / Bitcoin Discussion / Re: Who to blame for the increasing transaction fee?
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on: February 05, 2017, 02:35:59 PM
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any guys claiming its no ones fault, need to take a hard look at the code changes by core. instead of being reactive depending on demand. they are now based on averages.. which if you just used a spreadsheet would see a biased change which actually makes fees increase even if demand was low
take the way devs implemented the tx fee.. not only subverting coded methods of 'priority' which would have alleviated the war, but also using 'averages' which dont make the fee's drop reactively when demand is low. but actually keeps fee's up. even when one block is low demand. EG take a 25 block average.. imagine first 24 are 0.0001 and the 25th is 0.0025 then look at the 'average' after that.. even if demand was near 0 and no one was pushing the fee up.... the "average" itself pushes up yep even if blocks 26-75+ were near empty with just 2 tx's paying the estimate... the fee would rise try it yourself. get a spreadsheet
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18089
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Bitcoin / Bitcoin Discussion / Re: So who the hell is still supporting BU?
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on: February 05, 2017, 12:57:09 PM
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I heard that he's only admin not owner. If you think they are prejudiced agaisnt bu why they didn't ban you?
because no matter how much trolls try to ringfence me into a band camp. im thinking about the bitcoin consensus network. yea i detest blockstream because i have seen what they are upto. same cant be said for those idolising/defending blockstream, but not thinking about or understanding the bitcoin network itself lauda for instance doesnt know C++ to have read a line of code to be a critical enough advocate for his 'belief's' as you yourself are using the term hardfork, without understand consensus vs bilateral split. yep even softforks can cause bilateral splits. (mind blowing) its worth you realising the umbrella terms first and learn about bitcoin before defending a corporation that is desperate need to open up commercial services to repay them investors. especially if you are hoping for a pay day by being loyal to them corporate investors here ill help you learn about the umbrella term 'hardfork' you use but dont seem to understand
firstly learn consensus agreement vs bilateral split. too many times people only speak of the best case scenario of soft and the worse case of hard.(they know why they do it!!) but effectively the only difference between soft and hard is who gets to vote to activate.. soft.. pool votes nodes dont. hard.. nodes vote then pools. but in both soft and hard. both can have consensus, both can be controversial and both can have bilateral softfork: consensus - >94% pools no banning/ignoring of minority. result: small 5% orphan drama then one chain. minority unsynced and dead softfork: controversial - >50% pools no banning/ignoring of minority. result: long big% orphan drama then one chain. minority unsynced and dead softfork: bilateral - intentionally ignoring/banning opposing rules and not including them. result: 2 chains hardfork: consensus - >94% nodes, then >94% pools no banning/ignoring of minority. result: 5% orphan drama then one chain. minority unsynced / dead hardfork: controversial - >50% nodes, then >50% pools no banning/ignoring of minority. result: big% orphan drama then one chain. minority unsynced / dead hardfork: bilateral - intentionally ignoring/banning opposing rules and not including them. result: 2 chains to make an actual altcoin you need to do more then just make bigger blocks or send an erroneous transaction.. as that just causes rejects/orphans. you need to actually make the nodes ignore the opposing data and nodes so that they are not sticking to the same data. and instead walk in opposite directions high agreement = less orphans/rejects low agreement = more orphans/rejects but if you have another clause to avoid rejecting or even seeing the opposition. then you are risking creating an altcoin
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18090
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Bitcoin / Bitcoin Discussion / Re: Gov attack throught BUcoin agenda comming soon
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on: February 05, 2017, 12:51:03 PM
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here is the mindblowing thing though.
BTCC say they are ready to make a block with a p2wpkh tx in it.
so why dont they do a test. and make a block with a p2wpkh tx in it. and show how 'compatible' all nodes are.. after all isnt that the point/ their 'promise' of going soft. that nodes of any type/age wont reject blocks containing p2wpkh tx's
very worse case, btcc block gets rejected, which blockstream have $90m to pay btcc, ~$13k for a one block test or due to the partnership between btcc/blockstream thanks to barry silbert(dcg) they just treat it as a 3 second reject and be like all other pools that dont win. and not need to hand over funds, because its not a loss of ~$13k.. its just not a win of ~$13k
best case. the block is accepted and that gains the network confidence they desperately need
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18091
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Bitcoin / Bitcoin Discussion / Re: So who the hell is still supporting BU?
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on: February 05, 2017, 12:36:43 PM
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Maybe Unlimited Chinese miners pay for every favorable post about BU like in signature campaign. theymos owns this forum lauda runs a few sig-spam campaigns. lauda gave up moderator status to run sig campaigns both lauda and theymos are strong blockstream defenders. (not bitcoin open diverse and decentralised network defenders) your theory is interesting but i feel its those adoring blockstream that love getting pennies per post it explains why they are soo many noob accounts(below 100 activity), which are created and are jumping in defending blockstream without understanding the basics of bitcoin, or even thinking about the bitcoin network. knowing blockstream recognise their own faults and agenda's to then accuse anything not core as the ones doing it(point in opposite direction to distract), thus to play the victim card to get sheep into the wolves den, adding weight to a possibility that its blockstream centralists showing the loyalty, under the hope of getting a few pennies of that $90m investment
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18093
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Bitcoin / Bitcoin Discussion / Re: Gov attack throught BUcoin agenda comming soon
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on: February 05, 2017, 12:04:46 PM
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You dipshits will never get community consensus, only hashrate majority.
the smart community dont care about hashrate majority. unless nodes will accept the change, hash is a meaningless bucket filled with orphans and rejects. nodes mean more than hash. the community know this. thats why the smart pools (60% undecided either way) are not deciding. core failed by bypassing node consensus before hash consensus. they shot themselves in the foot thinking they could skip a step
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18094
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Bitcoin / Bitcoin Discussion / Re: Gov attack throught BUcoin agenda comming soon
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on: February 05, 2017, 11:55:07 AM
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oh look at the blockstream centralists wanting non-core implementations to fork off.. they cant cope that the community want consensus and not dictators.
blockstream centralists are now so desperate that they are no longer(playing a victim card) shouting out fear of forks.. but instead (dropped their victim card) to now be begging other implementations to fork.. but atleast they are now admitting their centralist desires
desperate desperate desperate
lets just concentrate on using the consensus code. and let the corporations fall into issues of not repaying their $90m by not being able to commercialise bitcoin to repay investors.
i could tell blockstream was getting thin on funds last year when they were complaining it cost them $10k just to be members of hyper ledger. after all if they still had multiple millions free and clear. $10k would feel like pennies.. but if they are near empty. $10k would hurt them, which they admit it had.
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18095
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Bitcoin / Bitcoin Discussion / Re: Gov attack throught BUcoin agenda comming soon
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on: February 05, 2017, 10:46:04 AM
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the real funny thing about the OP's rant. is that he tries to pretend he cares about bitcoin with the lets hope common sense keeps the status quo of one open network of digital gold Let's just hope common sense prevails and digital gold stays digital gold. sidnote: bitcoin is not digital gold. bitcoin is a digital asset, far better than digital gold in many many ways he also pretends to detest government money. by mentioning government and rothchild divide and conquer agenda. but here is the thing. he himself is playing the divide and conquer game by trying to make core the victim who should win dictatorship. by pointing cores failures in the opposite direction.. rather than think/talk/ mention consensus of no kings. ending his post with his ultimate desire.. to exit bitcoin when he can get $2000 of that government money he pretends to detest per coin. "They will not stop $2,000 from happening this year." here is some things that he needs to realise. 1. the drama of the PBOC visit btcc, irs visit circle and coinbase began from the blockstream rumour mill.. barry silbert(DCG) has ownership stakes in: BTCC, coinbase, blockstream, and.. coindeskso the rumour mill made a normal regulatory inspection sound like an attack. like barry's companies are being victimised. etc etc. all of which is meaningless crap. because it does not affect consensus of the network or the code. but the OP subtly is making it sound like core is the victim and if people stay in the sheep stroking arms of core, the price will rise to $2k this year please wake up people and care more about consensus and the code
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18096
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Bitcoin / Bitcoin Discussion / Re: USA Bitcoin ATMs being destroyed. By gangs or by competitors?
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on: February 05, 2017, 02:38:37 AM
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Is there really any money to be made with atms?
I assumed it would be peanuts. Certainly not enough to attract maniacs.
knowing the exchange rate "spread" between exchanges can be a couple %.. they can play that to pretend that they dont charge fee's while just showing a slightly greedy spread. or charge a fee and also take the spread too some BTM's can make upto 5% that way without disclosing its upto 5%
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18097
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Bitcoin / Bitcoin Discussion / Re: USA Bitcoin ATMs being destroyed. By gangs or by competitors?
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on: February 05, 2017, 01:21:03 AM
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2. gangs have their own BTM's and destroying the competitor
That's an interesting set of comments which may very well be true to one degree or another. 2. I am guessing the gangs here in my city do not have their own BTC ATMs, but have not looked into that possibility. the coindesk article Their goal, the lawsuit alleges, is to put other operators at a disadvantage through extortion and destruction of property.
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18098
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Bitcoin / Bitcoin Discussion / Re: So who the hell is still supporting BU?
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on: February 05, 2017, 12:46:47 AM
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Yes but look back before 2013 when everyone was their own pool, when people used to mine with CPU or GPU.
You're mistaken here. I've been writing mining software and mining since June 2011 and virtually everyone was mining on a pool back then. If you want to use that argument you need to go back to 2010 or earlier... basically before bitcoin became popular at all. Ok I did now know the exact date, I've been here only since ~ 2013/ 2014, you may be thinking of october 2013.. the first ASICS rolled out publicly prior to 2013 GPU were doing sub 20thash combined. from january 2013-october asic manufacturers were privately testing asics.. pushing that to 1000thash(1peta) and the rest is uphill from there.. today over 3m thash (3exahash)
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18099
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Bitcoin / Bitcoin Discussion / Re: BlockChain technology in real world applications?
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on: February 05, 2017, 12:36:53 AM
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What do you think, in the future, blockchain technology will take over. Personally I really hope to see this apply in banks, currently there is no safe and fast way to send money via bank to bank transfer, using block chain you could send money in any amount with low fee from one bank to another bank. This could support a LARGE amount of businesses alone, potentially making this technology more and more popular as long as the government would allow the idea of large amounts of money being transferred like this. Let me know what everyone thinks about potential blockchain-technology-businesses could be and what it's application's could be.
personally i prefer bitcoin, but most sheep will choose to lock their funds into permissioned contracts just for less timewasting/admin headaches This right here is why I love bitcoin, even if you transfer 100,000$ you can't get your funds locked or stuck in a 180 day hold or some bullshit. dont be so sure about that if core really went and pushed LN as the end goal of 100% user utility, rather than a voluntary side service. CLTV is the X day hold(even after LN settlement confirms) and CSV is the chargeback(while funds are CTLV maturing AFTER confirm) look no further than the hyperledger project
the concept is to have atleast 200 chains/ledgers that link to eachother. yes this means public keys will be linked to social security, tax, passport, medical records. but atleast people dont have to sign 20 registration documents for 20 services/entities. they dont need to be "vetted" for each exchange/bank/service" because all that admin is done in one go.
Well I know currently there is already people who can hack private keys from public keys from using random strings of text and numbers or something along those lines. I hope that, in theory, these public keys with SSN and other important information can't be hacked. if people are using brainwallets (short length alphabet 'passwords' to create private keys, or bad random generators) then yes they can be hacked. also if you re-use addresses a few times the 'randomness' of signature data can start showing a pattern. also vanity addresses are weaker to (easier to brute force a vanity address) which again is an issue for LN where everytime to sign a payment you are revealing a signature with the certain point of the axis, which with enough signatures can be used to find the pattern and thus find the origin point of the curve(the private key) this is why you should never re-use addresses using normal bitcoin transactions. and why LN and other things are not completely fool proof
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18100
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Bitcoin / Bitcoin Discussion / Re: BlockChain technology in real world applications?
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on: February 05, 2017, 12:13:03 AM
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What do you think, in the future, blockchain technology will take over. Personally I really hope to see this apply in banks, currently there is no safe and fast way to send money via bank to bank transfer, using block chain you could send money in any amount with low fee from one bank to another bank. This could support a LARGE amount of businesses alone, potentially making this technology more and more popular as long as the government would allow the idea of large amounts of money being transferred like this. Let me know what everyone thinks about potential blockchain-technology-businesses could be and what it's application's could be.
look no further than the hyperledger project the concept is to have atleast 200 chains/ledgers that link to eachother. yes this means public keys will be linked to social security, tax, passport, medical records. but atleast people dont have to sign 20 registration documents for 20 services/entities. they dont need to be "vetted" for each exchange/bank/service" because all that admin is done in one go. so i can see funds moving more swiftly.. just not done anonymously. even tax returns become automated. some may see the benefits of efficiency. but others will see the downside of permissioned services holding funds and rating/judging/knowing everything about the users/citizens. personally i prefer bitcoin, but most sheep will choose to lock their funds into permissioned contracts just for less timewasting/admin headaches
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