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News: Latest Bitcoin Core release: 25.0 [Torrent]
 
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inbox (OP)
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November 09, 2012, 05:14:20 AM
Last edit: June 20, 2013, 01:53:02 PM by inbox
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There are several different types of Bitcoin clients. The most secure are full nodes like Bitcoin Core, but full nodes are more resource-heavy, and they must do a lengthy initial syncing process. As a result, lightweight clients with somewhat less security are commonly used.
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inbox (OP)
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November 09, 2012, 04:24:51 PM
Last edit: June 20, 2013, 01:52:58 PM by inbox
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Spekulatius
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November 09, 2012, 06:17:23 PM
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lol, nice Wink
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November 09, 2012, 06:18:32 PM
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November 09, 2012, 06:49:36 PM
 #5

reddit gold is one thing, I wish to have a bitcoin based micro-payment tipping system on reddit, instead of a user bot. I want a "tip" link under every comment, so that people can choose to easily tip someone for a useful/helpful comment.

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
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November 09, 2012, 07:15:17 PM
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reddit gold is one thing, I wish to have a bitcoin based micro-payment tipping system on reddit, instead of a user bot. I want a "tip" link under every comment, so that people can choose to easily tip someone for a useful/helpful comment.

Im sure when the tipping bot proves reliable and popular the grey eminences over at reddit's will implement something like that.
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November 10, 2012, 05:08:27 AM
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reddit gold is one thing, I wish to have a bitcoin based micro-payment tipping system on reddit, instead of a user bot. I want a "tip" link under every comment, so that people can choose to easily tip someone for a useful/helpful comment.

Imagine what will happen once it's possible to make career out of being a reddit commenter. Uncommon insights, useful information, life-changing advice, trenchant argumentative points, and plain old comedy will be monetized in a sytem far smoother and far-reaching (and vastly higher quality) than Yahoo Answers or the like.
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November 10, 2012, 07:27:52 AM
Last edit: June 20, 2013, 01:52:18 PM by inbox
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November 10, 2012, 07:52:35 AM
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If reddit adopts bitcoin this will be a huge boon for the community. Here's to hoping!

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November 10, 2012, 10:47:36 AM
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With the number of users reddit has, any adoption that takes off with the user base would strap Bitcoin to a rocket headed for Pluto.
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November 10, 2012, 01:12:14 PM
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This would be a nice stepping stone for the Bitcoin economy. Lately I'm seeing more and more goods and services adopting Bitcoin.

Donations welcome: 12KaKtrK52iQjPdtsJq7fJ7smC32tXWbWr
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November 10, 2012, 03:55:00 PM
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reddit gold is one thing, I wish to have a bitcoin based micro-payment tipping system on reddit, instead of a user bot. I want a "tip" link under every comment, so that people can choose to easily tip someone for a useful/helpful comment.

Im sure when the tipping bot proves reliable and popular the grey eminences over at reddit's will implement something like that.

BTW, what's the status of the tipping bot?  I thought that was a very, very cool concept.  As others have pointed out, Bitcoin is better than the legacy currency / payment systems in pretty much ALL ways, but it's MUCH, MUCH better in a few ways.  Applications that leverage one or more of Bitcoin's truly decisive advantages will most likely be the ones that take off first, helping to fuel more widespread adoption.  The ability to facilitate micro-transactions is one of those areas where Bitcoin really blows fiat out of the water.  That's why I'm hopeful that the tipping bot concept could be a big deal. 
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November 11, 2012, 02:49:49 AM
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BTW, what's the status of the tipping bot?  I thought that was a very, very cool concept.  As others have pointed out, Bitcoin is better than the legacy currency / payment systems in pretty much ALL ways, but it's MUCH, MUCH better in a few ways.  Applications that leverage one or more of Bitcoin's truly decisive advantages will most likely be the ones that take off first, helping to fuel more widespread adoption.  The ability to facilitate micro-transactions is one of those areas where Bitcoin really blows fiat out of the water.  That's why I'm hopeful that the tipping bot concept could be a big deal. 

how so?
every single micro-transactions will remain in the blockchain forever. its pretty much the worst system possible for micro-transactions. they become prohibitively expensive way before bitcoin comes even remotely close to widespread adoption.
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November 11, 2012, 06:36:19 PM
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BTW, what's the status of the tipping bot?  I thought that was a very, very cool concept.  As others have pointed out, Bitcoin is better than the legacy currency / payment systems in pretty much ALL ways, but it's MUCH, MUCH better in a few ways.  Applications that leverage one or more of Bitcoin's truly decisive advantages will most likely be the ones that take off first, helping to fuel more widespread adoption.  The ability to facilitate micro-transactions is one of those areas where Bitcoin really blows fiat out of the water.  That's why I'm hopeful that the tipping bot concept could be a big deal. 

how so?
every single micro-transactions will remain in the blockchain forever. its pretty much the worst system possible for micro-transactions. they become prohibitively expensive way before bitcoin comes even remotely close to widespread adoption.


Really? Right now the recommended minimum miner's fee is 0.0005 BTC (about half a penny at the current exchange rate).   I won't pretend that I really understand the scalability issues that Bitcoin will have to address (or their likely solutions).  But I'm not sure why they matter.  Shouldn't we expect the minimum required transaction fee to be comparable to the marginal cost to a miner of including that transaction in a block?  In other words, why does it matter how bloated the blockchain is?  How does that affect the marginal cost of a single additional transaction? 
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November 12, 2012, 02:11:48 AM
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it matters because the blocksize is based on consent. in theory, a miner could, if the network allowed it, mine a 1tb block including billions of free transactions. it doesnt allow it because bitcoin would be dead at that very moment. so right now the maximum blocksize is 1mb and that 1mb determines the maximum amount of transactions and in turn the minimum transaction fee to get into a block. that 1mb limit will likely be lifted at some point and be replaced with a different one. but there will always be a limit. it is necessary to have a limit that is reasonably low enough so the blockchain can still be transmitted and stored and high enough to allow for cheap transactions. in my opinion, "cheap" will be way more expensive than it is now. the cost of bitcoin is not linear and people tend to massively underestimate nonlinear developments.

i will not try and put numbers to it. to do that you would need to know the architecture of future full and thin clients, and the distribution of those among bitcoin users. but you have to understand the situation right now is not representative at all. we are looking at chess on a 4x4 board here, with four pieces and no pawns on each side, laughing about the simplicity of the game.
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November 12, 2012, 04:07:31 AM
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it matters because the blocksize is based on consent. in theory, a miner could, if the network allowed it, mine a 1tb block including billions of free transactions. it doesnt allow it because bitcoin would be dead at that very moment. so right now the maximum blocksize is 1mb and that 1mb determines the maximum amount of transactions and in turn the minimum transaction fee to get into a block. that 1mb limit will likely be lifted at some point and be replaced with a different one. but there will always be a limit. it is necessary to have a limit that is reasonably low enough so the blockchain can still be transmitted and stored and high enough to allow for cheap transactions. in my opinion, "cheap" will be way more expensive than it is now. the cost of bitcoin is not linear and people tend to massively underestimate nonlinear developments.

i will not try and put numbers to it. to do that you would need to know the architecture of future full and thin clients, and the distribution of those among bitcoin users. but you have to understand the situation right now is not representative at all. we are looking at chess on a 4x4 board here, with four pieces and no pawns on each side, laughing about the simplicity of the game.


Hard drive space has never, and will never, be a limiting factor for humanity. A terrabyte is $100 right now... I mean come on. And indeed, nobody needs to use the full blockchain to use Bitcoin, so it's a moot point anyway.
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November 12, 2012, 04:45:45 AM
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Hard drive space has never, and will never, be a limiting factor for humanity. A terrabyte is $100 right now... I mean come on. And indeed, nobody needs to use the full blockchain to use Bitcoin, so it's a moot point anyway.

thanks for the detailed refutation... and btw: you are wrong  Wink

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November 16, 2012, 07:21:08 AM
 #18

Well, Reddit you failed in being the first big site to accept bitcoin.

https://bitcointalk.org/index.php?topic=124482.0

Hurry up, you can still make number two.  Grin

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November 16, 2012, 12:48:55 PM
 #19

Well, Reddit you failed in being the first big site to accept bitcoin.

https://bitcointalk.org/index.php?topic=124482.0

Hurry up, you can still make number two.  Grin


If even Wordpress does it, Reddit simply can't refuse Bitcoin. This would now just appear retarded.

Bitcoin is ideal for businesses like this. It can both easily enable paying for ''extra features'' of the service itself and micro-donations between users.
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November 16, 2012, 03:51:52 PM
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If even Wordpress does it, Reddit simply can't refuse Bitcoin. This would now just appear retarded.

They could always sidestep the pressure for a while by saying "Not now".
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