clearing out the mempool quickly would solidify the attackers losses and gratify the previous tx validation work already done by all full nodes in the network.

i think this proves that miners are perfectly capable of handling bigger blocks as evidenced by the "no delays" in confirmation intervals.  if anything i find it interesting that they get sped up to <10 min during these attacks.  with bigger blocks, we'd clear out that mempool in an instant:

talk about getting rekt.  Gregcoin my ass.

from Mike Hearn:

   >It was _well_ .... understood that the users of Bitcoin would wish to protect its decenteralization by limiting the size of the chain to keep it verifyable on small devices.


No it wasn't. That is something you invented yourself much later. "Small devices" isn't even defined anywhere, so there can't have been any such understanding.

The actual understanding was the opposite. Satoshi's words:

"At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware."

That is from 2008:
 
   http://satoshi.nakamotoinstitute.org/emails/cryptography/2/#selection-75.16-83.14

Then he went on to talk about Moore's law and streaming HD videos and the like. At no point did he ever talk about limiting the system for "small devices".

I have been both working on and using Bitcoin for longer than you have been around, Gregory. Please don't attempt to bullshit me about what the plan was. And stop obscuring what this is about. It's not some personality cult - the reason I keep beating you over the head with Satoshi's words is because it's that founding vision of the project that brought everyone together, and gave us all a shared goal.

If Satoshi had said from the start,

   "Bitcoin cannot ever scale. So I intend it to be heavily limited and used only by a handful of people for rare transactions. I picked 1mb as an arbitrary limit to ensure it never gets popular."

... then I'd have not bothered getting involved. I'd have said, huh, I don't really feel like putting effort into a system that is intended to NOT be popular. And so would many other people.


   >Don't think you can claim otherwise, because doing so is flat out wrong.


I just did claim otherwise and no, I am not wrong at all.

    >(Which, incidentially, is insanely toxic to any security argument for
    SPV; ---- and now we see the market failure that results from your and
    Gavin years long campaign to ignore problems in the mining ecosystem:


Since when have we "campaigned" to "ignore problems" in the mining ecosystem? What does that even mean? Was it not I who wrote this blog post?

    http://blog.bitcoinfoundation.org/mining-decentralisation-the-low-hanging-fruit/

Gregory, you are getting really crazy now. Stop it. The trend towards mining centralisation is not the fault of Gavin or myself, or anyone else. And SPV is exactly what was always intended to be used. It's not something I "fixated" on, it's right there in the white paper. Satoshi even encouraged me to keep working on bitcoinj before he left!


Look, it's clear you have decided that the way Bitcoin was meant to evolve isn't to your personal liking. That's fine. Go make an alt coin where your founding documents state that it's intended to always run on a 2015 Raspberry Pi, or whatever it is you mean by "small device". Remove SPV capability from the protocol so everyone has to fully validate. Make sure that's the understanding that everyone has from day one about what your alt coin is for. Then when someone says, gee, it'd be nice if we had some more capacity, you or someone else can go point at the announcement emails and say "no, GregCoin is meant to always be verifiable on small devices, that's our social contract and it's written into the consensus rules for that reason".

But your attempt to convert Bitcoin into that altcoin by exploiting a temporary hack is desperate, and deeply upsetting to many people. Not many quit their jobs and created companies to build products only for today's tiny user base.


My list of "things a full node is useful for" wasn't ordered by importance, by the way.


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does it work in Ubuntu?

i'm not sure too many ppl believe that.  after all, raising rates will have profound effects on the national debt interest owed each month for all countries.

i just think we're at the top of another stock cycle that's long overdue to roll over.  how far and how deep is the question.  ppl are anticipating this esp after all the currency crises overseas and liquidating assets for cash; which drives up the demand for USD's.  if the roll gets momentum to the downside, i've said all along that i doubt the US will get lucky again with having both UST's and the USD go up like they did in 2008.  if i had to choose, i'd guess we'd go the way of Japan and watch the USD dump while they do everything they can to save UST's ala JGB's. 

yeah, i was gonna say.  altho it's not perfectly correlated. 

China seems to be dumping it into gold; knife catching  :

is 0.93.2 working with Core 0.11.0?

no, no, no, nevermind your pretty little head.   iCEBlow has got it all figured out with Team Core.

does that mean the BitNet holds them for an extended period of time before sending them out to customers?  b/c that wouldn't be good.

kinda reflects where his thinking is derived.

notice how stock mkts almost perfectly reflect consumer sentiment/confidence.  or vice versa.

http://www.zerohedge.com/news/2015-07-28/us-economic-consumer-confidence-plunges-10-month-lows-hope-crashes

hang on.  Dow futures -20.

i wonder what all those guys will say next year when the Blockstream guys want to change the code for SC's and LN if Gavin objects.

don't hold your breath.  Monero isn't going anywhere.

this looks good too:

i guess it was indeed good.

this looks good:

nice article:

Letting the 1 trillion euro ($1.1 trillion) plus scheme to buy chiefly government bonds run longer could be better still, he suggested. "It may need to go beyond that," he said.

the black hole of death.

getting critical now.  just broke near term support and approaching red line of death: