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... and it's so nice in Delaware ...
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Just to summ up / that attack would be like that:
A miner
1) modifies his own mining code to enter already the SW link into the correct place
2) mines a BAD block NOW, Long time before SW goes live
3) Now he can do lots of real txs like spending BTC (but get back when)
4) SW goes live and all blocks down to his BAD block get orphaned and his spending from 3) are neglegted
? correct ?
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...
Alright, if you want to call it a hard fork, then it's a hard fork. But the difference between that and now is the context of its deployment. They are not comparable.
Yes the circumstances are very different and this is fast becoming a serious problem for BItcoin. The difference is that it is very easy to hard fork a cypto currency when the community is still small and there are no economic interests adversely impacted by the hard fork. As a coin matures it should be design be very difficult or impossible to hard fork if the hard fork has an adverse impact on existing economic interests. The problem that Bitcoin faces is that it needs to hard fork in order to scale, while at the same time it may be already too late for a hard fork that may have adverse economic impacts on members of the community. The miners trapped behind the Great Firewall of China may be a good example of this kind of economic interest. There is a very critical lesson here for alt-coin developers. ... And with that very good argument it is much more better to do the HF NOW than next year, where it should be way bigger & more mature and so more harder to do. But I see this argument than used next year to refuse a HF again.... |
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Why?
Just no analysis again....
There have been plenty of analyses over time. You can't blame me if you either haven't been here long enough or are unwilling to search (there are too many threads about this).
I'm willing to shortly explain it to you. What are we looking at here, doubling every two years? No thanks Lauda. Nobody really is able to condense all threads here. For proper decicision making in any risk exposed business you need to provide some prestudy that contains an analysis covering Status quo Future expectation / simulation Many different solutions to compare Risks ?.... From that all can easy derive / vote the best choice. All that needs to be really done independent from say 2-3 institutions like MIT, ETH Zürich, accenture,... Thats how you can save lot of threads and politics, but nothing is done here and a flaw remains and looks like a joke in financial business.... |
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Swiss based Monetas does sth similar in tunisia. |
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Exponential growth is the road to mass use of bitcoin
Actually it isn't. What Bitcoin needs is a secondary layer (e.g. Lightning Network). z Why? Just no analysis again.... |
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Price will go higher once seller cartels and bots stop selling that cheap. BTC price is more or less artificial and driven by selling ( ? pessure) ....
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There is again so many empty blahblah about HF risks. Point us to a rigorous risk analysis why this HF (just 2MB) is worse than a SF + SW + LN including all use cases for a frictionless growth compared to the past... I say just a bit provocant: HF fear is good for making politics & business. I cannot buy this w/o independent study. But yes nobody might be able to do this or just dont want to and we are still in the boat.  |
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To me it all comes down to the HF risk & fear.
If BTC would have regular HFs as in some alts they are normal, the 2 MB was done a year ago, correct?
So with SW it looks fine do scale by a SF and this is just seen (and sold) as lower risky...
Since most here cannot evalue both, join the boat.
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Yep. And it turns on my small brain. E.g. I still cannot find out if an ideal Nash equilibrium is absolutely needed, since strict equilibrium means death like in thermodynamics is at 0 Kelvin. Thats not good for anything....
Think of it as a balance of incentives on top of some dynamic structure. You could say it is structured behavior which can maintain itself because it is to no ones advantage to stray from the pattern. Yes thanks. But all dynamics underly some prob. distribution. And in this case here it is always a natural one that is not predictable and full of exteralities.... So guess there can be never be sth like a equilibrium. |
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Just finally caught this thread. A title bearing harsh assessment yet seeking solutions. This may be one of the most important threads in all this forum. Contentious, conscientious debate and brainstorming! Relatively civil and constructive too. Anyhow, a lot of questions I have had myself but am not computer literate enough to form the level of insight I see here. Hence this being the current limit of my contribution.  Seriously, watching this one. Yep. And it turns on my small brain. E.g. I still cannot find out if an ideal Nash equilibrium is absolutely needed, since strict equilibrium means death like in thermodynamics is at 0 Kelvin. Thats not good for anything.... |
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If anyone asks me how Bitcoin works (lol, like that actually happened IRL to anyone ever), I'll just direct them to this thread Oh yes, here's the comittee of truth. Adam surrounded by four-six people hammering the one and only truth in his head ... BIG BLOCKS ARE EVIL! CORE IS OUR HOLY MASTER! CLASSIC IS THE ANTI-CORE! And hey, my bank buddy is in this thread too, and it makes him lucky. Why? First because he learned that bitcoin's new holy mantra is that IT CANNNOT SCALE. So he is sure bank will stay in power. Second because - I think you know And yeah, this is one kind of the news my bank buddy makes happy: http://www.coindesk.com/blockstream-10-new-firms-hyperledger-blockchain-project/ -- the company that says bitcoin can not scale helps the banks and other companies to build the blockchain that can scale. Hm... To me that says just blockstream + bitcoin is better than ETH  |
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Get you some good 'smart contract' infos about ETH or BTC from Eric Lombrozo on the future and thing get back to earth soon After ca 30 min http://youtu.be/DJdS-9hVwckWhat the hell is going on in this video? They're trying to bring men's daisy duke shorts into style? Yep, that's just to get you away from the tech.  Awsome |
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Get you some good 'smart contract' infos about ETH or BTC from Eric Lombrozo on the future and thing get back to earth soon After ca 30 min http://youtu.be/DJdS-9hVwck |
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I also do not fully understand why core has this HF fear, but this interview with Eric Lombrozo is some really good one and tends me into the mood: yes, core really has the right road map yet (still hoping they could do the size adjustment before or with SW) Just watch that FULLY, since also all that Smart Comtracts hype and ETH paradoxis are scratched in! http://youtu.be/DJdS-9hVwckThanks also Lauda for the endless patiens here but also to Adam for fighting for the poor masses. Hope all comes to good in the end and the nedded (code) complexity in it is tested well and BUGFREE...  |
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Bitcoin is more stable than the Brazilian Lira and the price of gold.
It is shaping up to be a valid currency.
It is indeed quite shocking how Bitcoin can be more stable than currencies with much larger money supplies or market caps in relation to other currencies. It could have an advantage because bitcoin isn't directly effected by any one central bank because it is international. This may start to change the conversation into one of if bitcoin can or cannot receive stability as a unit of account, but may eventually translate into one of the most stable unit of accounts of all currencies even before it becomes an accepted reserve currency. Bitcoin is more stable than the Brazilian Lira and the price of gold.
The Brazilian real does have an 8% inflation and is indeed more volatile now than bitcoin. http://vlab.stern.nyu.edu/en/analysis/VOL.USDBRL%3AFOREX-R.GARCHAnd you cannot trade it legally in FX. Only via NDFs. |
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Let's see. Hope this is not some big blocker 'calm down' pump with some excess VC money....
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Alt guys covering, or fake & break...
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Nothing really changed, maybe just some sellers stopped selling...
And the sweet sound of shorters getting squeezed. It was inevitable. The only question was when. BTCC sell wall already down to normal... Who knows the short ratio? |
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