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A magical flying horse from a different fandom?  With sound financial advice?! |
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I'm getting an itch to buy some coins  Last chance to by over 450. Buy now and cry later. |
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thunder isn't useful for buying 1 cup of coffee
its useful for buying 100 speate cups of coffees instantly.
Open Channel for standard bitcoin fee
send 100 payments for each cup of coffee
Close Channel for standard bitcoin fee
cool huh?
I don't get why people are worked up about this, or why this Lightning is taking such a long time to develop. Here's a way to solve the coffee problem that's both simpler, more secure, and more elegant than Thunder Cats: 1. Walk into Starbucks. 2. Buy a gift card for 100 cups of coffee, with BTC or USD. 3. Use gift card each time you need to buy stuff from Starbucks. Functionally identical to Lightning/thunder, 4. Profit! i agree for coffee like TX, thats the way to go. but for things like coinbase accounts sending 1000's of payments to bitpay... lighting and or thunder is a big deal. I'm o.k. with sticking with starbucks as an example. We are not talking about 1 user buying several cups of coffee, but instead possibly 100 users or 1,000 users buying coffee through the day or the week or whatever period of time that the vender chooses before finally resolving with the blockchain .. and then at the end of the day, week or month, all of the transactions are resolved that are within that channel for $.10 or whatever is the applicable fee for the whole bundle of transactions. Each one of the "1,000 users buying coffee through the day" will have to buy a gift card open a payment channel with Starbucks. The only difference is Starbucks would have access to all the "gift card" money if sold gift cards, while no one would have access to BTC with Lightning. So not sure what you're trying to say. |
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thunder isn't useful for buying 1 cup of coffee
its useful for buying 100 speate cups of coffees instantly.
Open Channel for standard bitcoin fee
send 100 payments for each cup of coffee
Close Channel for standard bitcoin fee
cool huh?
I don't get why people are worked up about this, or why this Lightning is taking such a long time to develop. Here's a way to solve the coffee problem that's both simpler, more secure, and more elegant than Thunder Cats: 1. Walk into Starbucks. 2. Buy a gift card for 100 cups of coffee, with BTC or USD. 3. Use gift card each time you need to buy stuff from Starbucks. Functionally identical to Lightning/thunder, 4. Profit! |
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It's not about being faith in banks.
It's just a matter that bitcoin can't really touch all those people even they like to use it as bitcoin can only be accessed online since it's digital currency.
Dollar (Cash) is the same way. The Bank only holds a small percentage of cash on hand at the bank. Everything else is digital. People with no internet or smartphones use cash every day, don't know or care how banks store their money. Many of them never set foot in a bank, get paid in cash -> spend that cash. It works. |
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Everyone should able to create mining equipment
You are, you are free to create your own mining equipment. without restriction or stupid patent
Or having to ever pay for anything ever. MS should make Windows freely available to everyone, so as not to put Linux people at a disadvantage. Everyone is entitled to an iPhone, not just any smartphone. And rich parents, not just any parents, because otherwise life would be totally unfair. and miners should be allowed to mine bitcoin with anything (even it's inefficient)
You are. AsicBoost isn't taking away your CPU, your GPU, your FPGA, or the chickencoopful of ASICs you're mining with now. |
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Why all the Chinese hate? Someone beat you up with chopsticks when you were a little boy?
They fed me my own cat. It's not China hate, it's frustration with Bitcoin being so fundamentally broken that it only makes sense to mine it in China. |
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Bitcoin was designed to allow anyone to be able to mine it. A mining environment where one entity is able to mine 20% faster than all the others because they are using government power to cripple the competition doesn't work out well for Bitcoin as a whole.
By "government power," you mean subsidized Chinese 2 to 4 cent per kWh power, right? That's more than a 20% edge on my rate tho. Life is so unfair  |
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Clearly this is not about being against innovation. The problem is, that this kind of innovation might not be equally available to all miners, which poses the risk of a malevolent mining cartel.
Of course it's not gonna be equally available to all miners, nothing ever is. Not government subsidized 2-4 cent power, just for starters. As far as "malevolent mining cartels" go, scratch the malevolent part (Bitcoin has no anti-monopoly rules, afaik), and sure, we got them already  |
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Can't we hurry this along, Gentlemen?  |
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May seem like a double standard but the fact he is creating a aspect that could change bitcoin and at the same time limit who has access. So attempting to create a monoply, that is against bitcoin in my opinion and it strips away the mask of double standard.
Unless I'm missing something (possible, I only skimmed through their pdf), we're talking about ~20% boost? Better designed silicon from the same node process could offer more (and did in the past, and how!). 'Far as limiting access, a huge chunk of Bitcoin hashpower was manufactured by a guy known only as Friedcat. How would one mount a case against that? Plus straight from the horse): Since the rights granted by a U.S. patent extend only throughout the territory of the United States and have no effect in a foreign country, an inventor who wishes patent protection in other countries must apply for a patent in each of the other countries or in regional patent offices. Almost every country has its own patent law, and a person desiring a patent in a particular country must make an application for patent in that country, in accordance with the requirements of that country.
Tempest in a teacup on so many levels. Besides, patent hasn't even been granted. Might never be, if dooglus is on the money. |
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Are you telling me that my idea is not mine because you had the same idea? That makes no sense.
No, I'm telling you that while I think it's pure coincidence that you had the same idea after reading theirs, you're just shit out of luck. So even though you believe that we came up with the idea independently of each other, one person should be allowed to use the idea and the other shouldn't? That really just makes no sense. I could tell you that I was being sarcastic, that coming up with their idea after reading it is called "retention" and not "invention." I won't, I'll just say "they found it first, and got dibs on it." Just like they would have dibs on the dollar bill they found on the sidewalk, which you would have found if they didn't. It's theirs. To do with as they wish. Just like you would be shit out of luck if you published Crime and Punishment (which you totally wrote on your own) a few years after Dostoyevsky published his.
Even though I totally believe you.
You appear to be confusing patents and copyright. They're quite different things. You can't independently write the same novel. If I tried to publish a copy of an existing work then clearly I have copied it. Oh stop it. Of course I'm not confusing patents and copyright, I'm using whatcha m'call an analogy. Crime and Punishment is such an obvious novel that anyone could have written it. Especially after reading it. Much like you read the AsicBoost pdf. But chillax, the patent hasn't been granted yet, merely submitted (pending). If AsicBoost is as self-evident as you claim, no patent will be granted  You have more faith in the patent system than I do. It's imperfect, it's exploitable, but it's far better than nothing. Possibly due to the fact that inventors aren't a particularly powerful lobby, so the laws protecting their work are unlikely to be stacked in their favor. As others have pointed out, this is all pointless rhetoric, since the Chinese (who'll most likely be making your next batch of silicon) don't particularly care about patent law & could release their next gen chips through some Belize corporation, perhaps with some catchy/original name, like AsicMiner. So even if AsicBoost kids have the wherewithal to decap and conclusively prove, at gate level, that their patented methods are being used, good luck to them finding an entity to sue. |
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Since bitcoin has beat paypal in terms of volume it's clear where the potential is... Bitcoin.
Huh?  Got sauce for this wackiness? |
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... Do you forget how old Jimbo is? He was around in the days before the pesky lawyers had elaborated away all the fun in this world.
The Age Of Steam... |
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Blam! 459! BLAM! Oooh, shorters scairt! The Great Psychological 460 wall is Jericho'd!
I might have spoken too soon... Remember figuring out how easy it is to punch holes in walls, because walls are just sheet rock? Except for the part that's a 2x4? Ouch! ouch ouch ouch!!! |
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Next target: $466, then on to the $470s and a new high for 2016.
...but not before we revisit 440. |
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Blam! 459! BLAM! Oooh, shorters scairt! The Great Psychological 460 wall is Jericho'd!  |
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Are you telling me that my idea is not mine because you had the same idea? That makes no sense.
No, I'm telling you that while I think it's pure coincidence that you had the same idea after reading theirs, you're just shit out of luck. Just like you would be shit out of luck if you published Crime and Punishment (which you totally wrote on your own) a few years after Dostoyevsky published his. Even though I totally believe you. But chillax, the patent hasn't been granted yet, merely submitted (pending). If AsicBoost is as self-evident as you claim, no patent will be granted |
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Even though it doesn't make sense to bite the hand the feeds you
1. Bite hand that feeds you, tear off hand. 2. Eat hand. Delicious! 3. Find hand's former owner. He ain't far. 4. For best flavor, bleed out & gut prior to refrigeration. *Only wise not to bite if you know hand's gonna keep feeding you. Hand may not be in position to feed anyone after teh halvening |
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