it was my understanding that you needed the entire block in order to hash it to verify it, so how can you possibly remove data from the chain.

i agree, i guess i want my cake, and to eat it too.

but i think competing systems is always good, even for bitcoin.

its not required, but you only know of transactions that exist in the portion of the chain you have. also, you can never know if the part of the chain you have is valid in comparison to the full chain.

IMO i think we need a drastic rework on how we make sure who has how much and such without requiring so much data to be stored forever.

i do not know of a way, but i would guess a way to not need the entire chain through "checkpoint" blocks. also we could drop addresses that have had no activity for x number of blocks.

or we could start over from scratch with a brand new genisis block and everything once the chain gets unmanageable. or even a competing chain would be good. that way the phase out period is smaller. (do not use ixcoin, we need a TRUSTED new chain, where the genesis block is made live, just import and start hashing)
this would also get rid of the "early adopter" "problem", since every few years a new chain would start competing with existing chains.

i guess i just see something in bitcoin that is not possible large scale. where you can freely pay who you want without having to worry about the government tracking your every move. not having to trust 2 people to do one transaction.

i didnt use the google logo to make a wallet

i see what your saying, and i thought of this, but it goes against what bitcoin is about, you holding your money. we already have this partialy, for example person to person transfers inside wallets and exchanges. no transaction is made in the chain. this also means that someone could just decide they wanted you coins and would just take them, or they could start FRB.

then what is it for?

test with like .001 bitcoins before you do anything major. make sure you are able to reclaim the coins you put in

i just recently read some slides on bitcoin that seems to make some okay arguments against it, mostly concerning the size of the blockchain.

they make the claim that if bitcoin were to replace just visa, then we would require 3TB of storage every 21 days.

the average transaction size for the past 1000 blocks is 438, bytes i assume, it does not give units.

given the number of 4000 average TXN per second at 438 bytes per TXN

1752000bytes per second
105120000 bytes per minute
6307200000 bytes per hour
147825000 kilobytes per day
~140 gigabytes per day
~51456 terabytes per year (365)

seeing these numbers makes you wonder really wonder. what is the solution?

if we could get the average TXN size down to 300 bytes per TXN @ 4000 TPS

1200000 bytes per second
72000000 bytes per minute
70312.5 kilobytes per minute
4119 megabytes per hour
98876 megabytes per day
34 terabytes per year

i don't know if bitcoin has a future seeing this.

but here are some solutions to help the problem

use only 1 address
checkpoint blocks, every x number of blocks, every transaction done since the last checkpoint block is consolidated, only contains a huge DB of who has how much, its a block that does not use any hashing and is made by every client, no reward is given. yes there is some security problems with this.
compression(i think the blockchain gets ~70% compression ratio)
making a brand new branch of bitcoin every so often

yes i will still use bitcoin, we just need to fix this problem now before the situation gets out of control.

also various bacteria have been able to survive and thrive in space, namely escherichia coli

and the tardigrade has even laid eggs that hatched in space. http://www.youtube.com/watch?v=v2Zfdmie4hA

that thing cant run bitcoin

it only has 128meg of ram and i am not sure that bitcoin will run on arm.

edit:

heres a list of some that might run bitcoin

http://www.newegg.com/Store/SubCategory.aspx?SubCategory=772&name=Netbooks&Order=PRICE

1 gig of ram should be enough.

heres a laptop that is better and costs like 20 or 30 more than the cheapest netbook

http://www.newegg.com/Product/Product.aspx?Item=N82E16834215112

are there any pools that include transactions that are free with no fee?

hardly

some people do not require TBs of porn to have ultralong shelf life. for example, keys, wallets, documents.
also, i do not know how a normal dvd would stand up to an EMP, it probably doesn't effect it, but m-disc would be immune, since it only has holes.

i agree and disagree, a hot mascot will get you noticed by more people faster. bitcoin is not really a "product" in the traditional sense.

hot female mascot

http://www.youtube.com/watch?v=1k6w1yP5-XY

I dont think 16 million people watched the video for exercise(not THAT exercise )

this is proof that a hot female can get people to look at the video at minimum, if they listen or not is another thing.

today its still difficult to determine what a CPU is in server software licensing. is 1 cpu a considered a core or 1 physical cpu? don't get started on logical cores lol.

ill give you an honest opinion from a guy who has made copies of USFRD for entertainment and did a good number of hours of research into counterfeiting things.

bitbill can be somewhat easily counterfeited.

if i got this right, you peel off that security hologram to reveal the private key. so all the security is gone once you are able to obtain another security hologram.

http://www.securityhologram.com/ they sell security holograms, so really, what is to stop me from making my own bitbills? i can literally buy everything i need to make them.

i propose a simple solution to bitcoin security, as far as wallets go.

it is a bitcoin device. it would be about the size of an iphone, maby a little smaller. it would have a qrcode scanner, a touch screen, infrared sender/receiver and miniusb. it would/should cost ~USD50-100.

it works by only sending signed transactions via usb or infrared.

there is also some software that should come with it, or invent some new standards.

what you do is specify public address that you want to be included in the export file.

once you export the file it gets on the device via usb. the device would be hard wired to only accept data, and never send any data out except required usb data.

the file only contains transaction data that involves a specific or set of specific addresses you own. this is only needed so the device knows how much coin it has without needing the entire blockchain.

i was thinking about it having wifi, but that didn't seem like it would be very secure.

in the ideal situation, you would have a dedicated bitcoin node that does nothing but bitcoin, and a device. you use the node to import and export signed transactions, private keys and transaction data.

Here is more stuff that would be good.

proposition to have nodes that will respond to queries about address.
these nodes could sell their services or be free, but i think if this were developed it should include the option to charge per query or per 1k queries or whatever. or per day/week/month/year. or set up for personal/business use.
you simply supply a ip or namecoin address or dns name to the software that will accept.
these nodes could also operate as supernodes, nodes that connect to hundreds, or thousands of peers.
they could also allow people to download the blockchain from them via http or offer torrent URIs
This image shows really simply how it would work.


If this were made, mobile solutions would be simple, and desktop clients could be made and set up for use the instant they were installed.(or until they got the full chain.)
desktop clients would have 2 versions: lite and full
lite includes everything but the blockchain.
full includes everything including the ability to connect to the nodes

I think this is just so much better than surrendering your coins to some 3rd party.

i dont think we should get used to trading private keys, its simply not secure.

for example, if i want to sell some pizzia, and i accept bit bills, i have to trust bitbills and the person that gave it to me. if i accept block chain only transactions i trust only the block chain.

another example

if i want to exchange a lot of coins not via the chain, and i trust the other person, they could make their own paper wallet and give it to me. then i only need to trust the person who made the paper wallet.

in addition you do not need to keep the physical wallet. you only need to trust its integrity until you send the coins the key claims to another address.

actually, eventually they will make money from this. they now have the #1 exchange + #3. i dont think it will take much more than a year for the bitomat portion of mtgox to make the money back.