Bitcoin Forum
February 20, 2018, 01:47:13 AM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 [2]  All
  Print  
Author Topic: 1 MB limit per Bitcoin  (Read 1568 times)
Amph
Legendary
*
Offline Offline

Activity: 1792
Merit: 1001



View Profile
April 22, 2016, 05:42:06 AM
 #21

Is there a risk that only large corporations will be able to process BTC blockchain meaning that they will be the only mining facilities and thus imposing their transaction fee price?

imposing high fee would also ruin merchants business, because they will pay more for their transaction, and since merchants have a great position, i would say the chances are slim
1519091233
Hero Member
*
Offline Offline

Posts: 1519091233

View Profile Personal Message (Offline)

Ignore
1519091233
Reply with quote  #2

1519091233
Report to moderator
1519091233
Hero Member
*
Offline Offline

Posts: 1519091233

View Profile Personal Message (Offline)

Ignore
1519091233
Reply with quote  #2

1519091233
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1519091233
Hero Member
*
Offline Offline

Posts: 1519091233

View Profile Personal Message (Offline)

Ignore
1519091233
Reply with quote  #2

1519091233
Report to moderator
1519091233
Hero Member
*
Offline Offline

Posts: 1519091233

View Profile Personal Message (Offline)

Ignore
1519091233
Reply with quote  #2

1519091233
Report to moderator
1519091233
Hero Member
*
Offline Offline

Posts: 1519091233

View Profile Personal Message (Offline)

Ignore
1519091233
Reply with quote  #2

1519091233
Report to moderator
fred21
Member
**
Offline Offline

Activity: 121
Merit: 10


View Profile
April 22, 2016, 05:57:04 PM
 #22

what is LN to solve blockchain capacity issue?
luciann
Sr. Member
****
Offline Offline

Activity: 252
Merit: 250


View Profile
April 22, 2016, 07:06:45 PM
 #23

Just know eventually, the 1 MB model scale is going to be forced to be bumped up.

If bitcoin wants daily transactions to happen when there are growing pains, its forced to be more then 1mb.

Amph
Legendary
*
Offline Offline

Activity: 1792
Merit: 1001



View Profile
April 23, 2016, 05:39:54 AM
 #24

what is LN to solve blockchain capacity issue?

it has to do with instant confirmations https://www.reddit.com/r/Bitcoin/comments/37n0l6/eli5_the_lightning_network/, it does not come without risk like many think
fred21
Member
**
Offline Offline

Activity: 121
Merit: 10


View Profile
April 24, 2016, 06:14:06 PM
 #25

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained  here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?
shorena
Copper Member
Legendary
*
Offline Offline

Activity: 1428
Merit: 1167


No I dont escrow anymore.


View Profile WWW
April 24, 2016, 08:36:34 PM
 #26

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained  here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

No, if you create two different outputs they are two different outputs even if they go to the same address. Its a bit of an arsehole move, you could even send someone 2 BTC in 0.001 BTC outputs each. Its a bit like paying a large bill in 1 cent pieces. Most wallets will not do this though, youd have to create a TX by hand or somehow force non-default behaviour for the wallet.

odolvlobo
Legendary
*
Offline Offline

Activity: 2044
Merit: 1020



View Profile
April 24, 2016, 08:47:34 PM
 #27

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained  here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

The separate 2 and 3 BTC amounts would be combined when sent normally, but it is possible to do it differently, as Shorena pointed out.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Join an anti-signature campaign: DannyHamilton's ignore list
I do not give merit to members of signature campaigns.
fred21
Member
**
Offline Offline

Activity: 121
Merit: 10


View Profile
April 29, 2016, 06:39:16 PM
 #28

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained  here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

The separate 2 and 3 BTC amounts would be combined when sent normally, but it is possible to do it differently, as Shorena pointed out.

when odolvlobo says "The separate 2 and 3 BTC amounts would be combined when sent normally" does it mean that the 2 BTC and the 3 BTC sent together as 5 BTC will reach an other wallet as a single entity (5 BTC entity). right or not?
achow101
Staff
Legendary
*
Offline Offline

Activity: 1316
Merit: 1144


3F1Y9yquzvY6RWvKbw2n2zeo9V5mvBhADU


View Profile WWW
April 29, 2016, 07:15:17 PM
 #29

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained  here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

The separate 2 and 3 BTC amounts would be combined when sent normally, but it is possible to do it differently, as Shorena pointed out.

when odolvlobo says "The separate 2 and 3 BTC amounts would be combined when sent normally" does it mean that the 2 BTC and the 3 BTC sent together as 5 BTC will reach an other wallet as a single entity (5 BTC entity). right or not?
Yes, if you create a transaction which spends from those two outputs to a single output, that output can have a value of at most 5 BTC.

.
▀ ▀ ▀▀▀
                 ▄█▄
         ▄▄      ███
         ▀██▄    ███
      ▄▄▄▄▄███▄  ███
   ▄███████████▀ ███
 ▄███▀    ▄██▀   ███
▄███     ██▀     ███
███              ███
███              ███
███▄            ▄███
 ███▄          ▄███
  ▀███▄▄▄▄▄▄▄▄███▀
    ▀▀████████▀


          ██                            ██               ▄▄
          ██                            ██               ▀▀
          ██                            ██     ▄▄
  ▄██████▄██    ▄██████▄      ▄██████▄  ██   ▄██▀        ██    ▄██████▄
▄██▀    ▀███  ▄██▀    ▀██▄  ▄██▀    ▀▀  ██ ▄██▀          ██  ▄██▀    ▀██▄
██        ██  ██        ██  ██          █████▄           ██  ██        ██
██        ██  ██        ██  ██          ██▀▀██▄          ██  ██        ██
▀██▄    ▄██▀  ▀██▄    ▄██▀  ▀██▄    ▄▄  ██   ▀██▄   ▄▄▄  ██  ▀██▄    ▄██▀
  ▀██████▀      ▀██████▀      ▀██████▀  ██     ▀██  ███  ██    ▀██████▀

▬▬   WHITEPAPER   ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
..........FACEBOOK        TWITTER        TELEGRAM..........
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬   ANN THREAD   ▬▬
.

garmerys
Full Member
***
Offline Offline

Activity: 225
Merit: 100



View Profile
April 30, 2016, 01:02:34 PM
 #30

Is there a risk that only large corporations will be able to process BTC blockchain meaning that they will be the only mining facilities and thus imposing their transaction fee price?

imposing high fee would also ruine merchants business, because they will pay more for their transaction, and since merchants have a great position, i would say the chances are slim

More the fees, less popular the currecny
streazight
Hero Member
*****
Offline Offline

Activity: 756
Merit: 501


View Profile
April 30, 2016, 04:49:56 PM
 #31

Is there a risk that only large corporations will be able to process BTC blockchain meaning that they will be the only mining facilities and thus imposing their transaction fee price?

imposing high fee would also ruin merchants business, because they will pay more for their transaction, and since merchants have a great position, i would say the chances are slim

imposing high fee would not help the bitcoins users. We have to come up with some other methods

fred21
Member
**
Offline Offline

Activity: 121
Merit: 10


View Profile
May 01, 2016, 10:25:37 PM
 #32

I still have problem understanding how blocks build up.

At a time there is only one block generating. Then transactions are accumulating in that block. then when block reach 1 mb, block is attributed to one miner who gets the subsidies and the transaction fees related to that block. am I missing something?
achow101
Staff
Legendary
*
Offline Offline

Activity: 1316
Merit: 1144


3F1Y9yquzvY6RWvKbw2n2zeo9V5mvBhADU


View Profile WWW
May 01, 2016, 10:43:56 PM
 #33

I still have problem understanding how blocks build up.

At a time there is only one block generating. Then transactions are accumulating in that block. then when block reach 1 mb, block is attributed to one miner who gets the subsidies and the transaction fees related to that block. am I missing something?
No, that is not how blocks are generated.

A miner creates a block, full of however many transactions they decide to include. This block, when sent to every other node on the network, must be checked for validity. Part of that check is the size. The block is currently not allowed to be larger than 1 Mb. If it is, a node running current consensus rules will reject the block.

.
▀ ▀ ▀▀▀
                 ▄█▄
         ▄▄      ███
         ▀██▄    ███
      ▄▄▄▄▄███▄  ███
   ▄███████████▀ ███
 ▄███▀    ▄██▀   ███
▄███     ██▀     ███
███              ███
███              ███
███▄            ▄███
 ███▄          ▄███
  ▀███▄▄▄▄▄▄▄▄███▀
    ▀▀████████▀


          ██                            ██               ▄▄
          ██                            ██               ▀▀
          ██                            ██     ▄▄
  ▄██████▄██    ▄██████▄      ▄██████▄  ██   ▄██▀        ██    ▄██████▄
▄██▀    ▀███  ▄██▀    ▀██▄  ▄██▀    ▀▀  ██ ▄██▀          ██  ▄██▀    ▀██▄
██        ██  ██        ██  ██          █████▄           ██  ██        ██
██        ██  ██        ██  ██          ██▀▀██▄          ██  ██        ██
▀██▄    ▄██▀  ▀██▄    ▄██▀  ▀██▄    ▄▄  ██   ▀██▄   ▄▄▄  ██  ▀██▄    ▄██▀
  ▀██████▀      ▀██████▀      ▀██████▀  ██     ▀██  ███  ██    ▀██████▀

▬▬   WHITEPAPER   ▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬
..........FACEBOOK        TWITTER        TELEGRAM..........
▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬▬   ANN THREAD   ▬▬
.

odolvlobo
Legendary
*
Offline Offline

Activity: 2044
Merit: 1020



View Profile
May 01, 2016, 11:13:27 PM
 #34

I still have problem understanding how blocks build up.

At a time there is only one block generating. Then transactions are accumulating in that block. then when block reach 1 mb, block is attributed to one miner who gets the subsidies and the transaction fees related to that block. am I missing something?

Here is how it works: Each miner assembles some number of unconfirmed transactions into a block (up to 1 MB), and then tries to add that block to the block chain. While each miner is trying to add their block, more unconfirmed transactions come in and the miner may or may not include them in their block. Once a winning block is added, the losing miners throw out their unsuccessful attempt, plus the transactions that were in the winning block, and start over.

Buy bitcoins with cash from somebody near you: LocalBitcoins
Join an anti-signature campaign: DannyHamilton's ignore list
I do not give merit to members of signature campaigns.
Pages: « 1 [2]  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!