Bitcoin XT - Officially #REKT (also goes for BIP101 fraud)

[knight22]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

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[VeritasSapere]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Bitcoin is a settlement system and a currency, and many more things, your conception of Bitcoin is restricted and narrow, fortunately not everyone agrees with you. Cryptocurrency will rise and triumph regardless.

[brg444]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

What a lame with his fiat companies 

How many of these have positive cash flow denominated in Bitcoin?

 

[knight22]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

What a lame with his fiat companies  

How many of these have positive cash flow denominated in Bitcoin?

 

Completely irrelevant comment.

[brg444]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

What a lame with his fiat companies  

How many of these have positive cash flow denominated in Bitcoin?

 

Completely irrelevant comment.

Irrelevant? I don't see how.

These companies are irrelevant yes since most of them are only banking parasites trying to fit Bitcoin into their paradigm attempting to create closed gardens they can control.

A majority of them have no Bitcoin balance to speak of and are nothing but a bunch of old fiat money infrastructures and bureaucracy. It's likely half the amount of their venture raises are used to bribe financial and government officials so they can also get in the club.

As any entity on the Bitcoin network they are to be judged on their peer participation, bitcoin balance and reputation.

Your delusion that they have any importance is spurious and demonstrates how much of a low level noob you are. Bitcoin doesn't need these VCs and these entrepreneurs. It will succeed as a store of value and a peer-to-peer network for private payments. We absolutely can make it without your broken consumer attittude and your "mass adopters". Any thing the masses cling to typically turns into a worthless piece of shit anyway.

We stand to make sure this doesn't happen to Bitcoin and that's why if you're not happy with the code, fork yourself.

[knight22]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

What a lame with his fiat companies  

How many of these have positive cash flow denominated in Bitcoin?

 

Completely irrelevant comment.

Irrelevant? I don't see how.

These companies are irrelevant yes since most of them are only banking parasites trying to fit Bitcoin into their paradigm attempting to create closed gardens they can control.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Enough said. You are completely disconnected from reality and contradicting yourself.

[brg444]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

What a lame with his fiat companies  

How many of these have positive cash flow denominated in Bitcoin?

 

Completely irrelevant comment.

Irrelevant? I don't see how.

These companies are irrelevant yes since most of them are only banking parasites trying to fit Bitcoin into their paradigm attempting to create closed gardens they can control.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Enough said. You are completely disconnected from reality and contradicting yourself.

Oh sorry it didn't know you had never heard of open-source

[brg444]

Is that not allowed? Perhaps I need to be "moderated"!

tell me brg444 why miners couldn't get together and start mining bigger blocks?

Blocks are full, transactions are backing up, fees are rising such that it would make a significant difference to the block reward if you could include twice as many transactions.

AntPool, F2Pool, BTCChina, BW Mining, and Huobi see that this is the case, and having over 50% of hash rate figure that if they all start mining and accepting 2MB blocks then they are on balance going to generate more revenue.

What is to stop them hard forking?

You can't be serious....

Do you know what a hard fork is?

I know you are desperate for me to be wrong, but you should set it aside. Its clouding your ability to grok anything.

You know what you are right, I forgot that nodes have to relay blocks not just transactions.

That could be a problem then!

Don't mind me just preserving that for posterity




 

[knight22]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

What a lame with his fiat companies  

How many of these have positive cash flow denominated in Bitcoin?

 

Completely irrelevant comment.

Irrelevant? I don't see how.

These companies are irrelevant yes since most of them are only banking parasites trying to fit Bitcoin into their paradigm attempting to create closed gardens they can control.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Enough said. You are completely disconnected from reality and contradicting yourself.

Oh sorry it didn't know you had never heard of open-source

You are referring vaperware companies that does not exists while ignoring the needs of the actual market.

Enough said. Prepare yourself to be forked out by the real market that have real immediate needs.  

[VeritasSapere]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

What a lame with his fiat companies  

How many of these have positive cash flow denominated in Bitcoin?

 

Completely irrelevant comment.

Irrelevant? I don't see how.

These companies are irrelevant yes since most of them are only banking parasites trying to fit Bitcoin into their paradigm attempting to create closed gardens they can control.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Enough said. You are completely disconnected from reality and contradicting yourself.

Oh sorry it didn't know you had never heard of open-source

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

It being open source does not change the contradiction.

[iCEBREAKER]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

Nowhere did I say "most people should rely on off chain solutions."

SC/LN do not require trusted third parties, and they do truly increase the throughput of the Bitcoin blockchain.

bitcoin will get larger blocks, just not now, "not tonight dear"

Sorry if that burns your butt.   

[iCEBREAKER]

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

bitcoin will get larger blocks, just not now, "not tonight dear"

Meanwhile...

[VeritasSapere]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

Nowhere did I say "most people should rely on off chain solutions."

SC/LN do not require trusted third parties, and they do truly increase the throughput of the Bitcoin blockchain.

bitcoin will get larger blocks, just not now, "not tonight dear"

Sorry if that burns your butt.   

They are third parties, and they do not increase the throughput of the Bitcoin blockchain directly, even larger deployment of SC/LN would still require a larger blocksize to support this in the long term.

I like the lighting network however I am skeptical of side chains due to them being to complex. Either way the blocksize still needs to be increased.

[hdbuck]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does not live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

"I’m sure that in 20 years there will either be very large (bitcoin) transaction volume or no volume."

there you go..

max onchain transaction as of advertised by you noobs does break with all the other fundamentals of bitcoin as advertised by satoshi.

as of bitcoin's current state, only sound money settlement  made available by maxing decentralization matters to make the network worth anything against the fraud of a freaking system we live in.

you wannabes lack basic economic ground, as only scarcity has driven btc price up, both from a cap and blocksize point of view.

hello, no mass adoption there. just some few golden tickets for the privileged libertarian than want to cut loose with the current system encompassing corporations sheeps and bank cartels..

ergo you dumb STATISTs &#@%$ !!1

so yes i fully concur with Satoshi's quote, but then im only focused in making btc worth MOAR.

[iCEBREAKER]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

Nowhere did I say "most people should rely on off chain solutions."

SC/LN do not require trusted third parties, and they do truly increase the throughput of the Bitcoin blockchain.

They are third parties, and they do not increase the throughput of the Bitcoin blockchain directly, even larger deployment of SC/LN would still require a larger blocksize to support this in the long term.

I like the lighting network however I am skeptical of side chains due to them being to complex. Either way the blocksize still needs to be increased.

"trusted third parties" != "third parties"

EG, sidechains' two-way pegs are in the code/blockchain, not some centralized authority.

You lost the Battle of the Blocksize, and you will continue to lose the Bitcoin Civil War.

The Gavinista suits their Redditurd Army have no hope against the cypherpunks and radical individualists.  We shaped the battlefield long ago; your defeat is assured by math and the physical properties of the universe.  As well as your obsequious, yet easily irritated nature.

bitcoin will get larger blocks, just not now, "not tonight dear"

Perhaps it is cruel to continue poking you dumb animals with sticks just to watch you rage and foam.  Nah, it's the only way you'll learn!   

[sidhujag]

You think that most people should rely on off chain solutions? Needing third parties in order to transact in Bitcoin defeats part of the purpose. We should be able to use the Bitcoin Blockchain directly, off chain solutions do not truly increase the throughput of the Bitcoin blockchain.

I think icebreaker missed that part:

What is needed is an electronic payment system based on cryptographic proof instead of trust,
allowing any two willing parties to transact directly with each other without the need for a trusted
third party.

The only way to use Bitcoin without relying on a third party is to run a full node. How else do you propagate your transactions privately.

The vast majority of Bitcoin users do not run full nodes, smart phones can not run full nodes after all. I also very much doubt that every user in the future that does niot live in the developed world will be able to run a full node either. People can use Bitcoin without running a full node, while still holding their own private keys and being able to transact freely on the Bitcoin blockchain.

Yes, and it's a shame they pretend to be Bitcoin, a purely peer-to-peer form of electronic cash, users.

Of course no one is proposing you shouldn't run Bitcoin on your smartphone, but to be safe you should first be generally careful about doing that and the first sane thing to do is to still rely on your node to broadcast transactions.

Of course this is all irrelevant anyway seeing as it is all part of your repeated attempts to turn Bitcoin into a consumer product which does not fly. Yes you are free to spend Bitcoin and trust an SPV wallet using your smartphone but I frankly think at that point you might want to pull out your credit card. Again, I don't care about your ideology or "what you think", I'm just saying don't expect any typical retarded consumer to adopt this.

Soon enough it will seem economically wasteful to transact on the Bitcoin blockchain. Large scale open source payment systems will prove to be more efficient, flexible and almost as reliable as regular blockchain transactions. The experience will be unlike anything in the Bitcoin ecosystem right now. Payment addresses will be abstracted, transactions will be instant, privacy will be improved.

Bitcoin's blockchain will forever remain a low-velocity network settlement network. It is was it was engineeringly designed to be.

lol this is blatantly false and you know it.

Ive already gone through all of this with you on why andd how bitcoin is a settlement system..

Yup but it didn't make any sense from any economic point of view and none actual bitcoin financial institutions want this anyway.

http://blog.blockchain.com/2015/08/24/industry-endorses-bigger-blocks-and-bip101/

So it won't happen and bitcoin will be forked out at some point.

It makes total sense, maybe you need to look at the bigger picture. Anyways the people that can't see a step ahead are the ones who are complaining about block sizes anyways... you can go and re-read my posts about it if you would like to get a sense of what the actual debate is about. I don't think you fully understand the concept.

[sgbett]

Reminding everyone here, who claims that every user needs to be able to run a full node. Quoting Satoshi Nakamoto:

"The eventual solution will be to not care how big it gets." "But for now, while it’s still small, it’s nice to keep it small so new users can get going faster. When I eventually implement client-only mode, that won’t matter much anymore." "The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users."

Boring appeal to authority.

BTW had you no shame sharing the misleading "article" of a known scammer!?:
https://bitcointalk.org/index.php?topic=998257.msg12620721#msg12620721

Really awkward isn't it though.

[bambou]

Reminding everyone here, who claims that every user needs to be able to run a full node. Quoting Satoshi Nakamoto:

"The eventual solution will be to not care how big it gets." "But for now, while it’s still small, it’s nice to keep it small so new users can get going faster. When I eventually implement client-only mode, that won’t matter much anymore." "The current system where every user is a network node is not the intended configuration for large scale. That would be like every Usenet user runs their own NNTP server. The design supports letting users just be users."

Boring appeal to authority.

BTW had you no shame sharing the misleading "article" of a known scammer!?:
https://bitcointalk.org/index.php?topic=998257.msg12620721#msg12620721

Really awkward isn't it though.

Nope. For you guilible followers probably but i personnaly had my doubt since his fraud of a thread. Such liar could only end up scamming.

Guess who was right yet again?

Gerald Davis is a contemptible worm. He is not merely lying : he is intelligent and informed enough to know he's lying, and does it nevertheless. The fact that he's done it in the first place, the fact that he does not fear public ridicule more than he fears his masters, the fact that he's - provedly - willing to fuck a goat with cameras rolling satisfy that point : no, he's not going to stop. Because the only thing you can do, once you've lost your good name, is to continue whatever you did that lost it. Right ?

http://trilema.com/2015/gerald-davis-is-wrong-heres-why/

[Zarathustra]

Stupid, dumb, idiot, asshole, bastard, noob, fucker, Jesus Christ!

ROFL - this thread just gets funnier by the minute.  

Indeed. Nobody is better in damaging the reputation of the small blockers than such 'Bitcoiners'.

[bambou]

Stupid, dumb, idiot, asshole, bastard, noob, fucker, Jesus Christ!

ROFL - this thread just gets funnier by the minute.  

Indeed. Nobody is better in damaging the reputation of the small blockers than this 'Bitcoiners'.

We dont care about reputation. We care about bitcoin and freedom.

You corporatist sheeps should be forking off already.