blunderer
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February 24, 2016, 08:13:21 PM |
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^^The Blogchain knows you really didn't need to send a buck & are spamming. I hope Blogchain loses your bitcoin, to teach you not to mess with it.
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Adrian-x
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Activity: 1372
Merit: 1000
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February 24, 2016, 08:13:56 PM |
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3% left over why why is my TX not included lol LOL, just withdrew some BTC from an exchange, they are paying 0.00015936 XBT = $0.0924195 CAD per tx. just got 2 confirmations in like 2 minus. Blocks are only full if your are not paying almost $0.10 per transaction. and so it begins - to quote rocks The goal is to slowly introduce a fee market. First slowly knock out very low value transactions, then add SFSW to slightly increase capacity. Then knock out moderately low value transactions, then add 2017 2MB HF to slightly increase capacity.
They will increase capacity, but at a very slow rate that falls behind usage growth. The effect will be a slow introduction of a fee market that removes more and more use cases for Bitcoin.
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adamstgBit
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Trusted Bitcoiner
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February 24, 2016, 08:18:03 PM Last edit: February 24, 2016, 08:34:14 PM by adamstgBit |
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Adrian-x
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Merit: 1000
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February 24, 2016, 08:18:55 PM |
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^^The Blogchain knows you really didn't need to send a buck & are spamming. I hope Blogchain loses your bitcoin, to teach you not to mess with it.
valid transactions are valid transactions. $1 in Bitcoin was not spam in 2011 and it's not spam today. in fact $1 in March 2011 = 1BTC ($425 today). what will $1 in BTC be worth in 5 years. it's ignorant to want to control the money supply by wishing monetary units vanish or get lost, all valid transactions should be valid.
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AlexGR
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February 24, 2016, 08:19:19 PM |
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LOL, just withdrew some BTC from an exchange, they are paying 0.00015936 XBT = $0.0924195 CAD per tx. just got 2 confirmations in like 2 minus. Blocks are only full if your are not paying almost $0.10 per transaction.
We don't need to guesstimate: From cointape.com, based on what is happening: 1-10 satoshi per byte = from 7 blocks to infinity. 11-20 satoshi per byte = from 2 blocks to 28 21-30 satoshi per byte = from 0 to 5 blocks 31-40 satoshi per byte = from 0 to 2 blocks 41-50 satoshi per byte = from 0 to 1 blocks 10 satoshi per byte = 0.011$ per 258byte tx 20 satoshi per byte = 0.022$ per 258byte tx 30 satoshi per byte = 0.033$ per 258byte tx 40 satoshi per byte = 0.044$ per 258byte tx 50 satoshi per byte = 0.055$ per 258byte tx
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billyjoeallen
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Hide your women
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February 24, 2016, 08:21:32 PM |
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LOL, just withdrew some BTC from an exchange, they are paying 0.00015936 XBT = $0.0924195 CAD per tx. just got 2 confirmations in like 2 minus. Blocks are only full if your are not paying almost $0.10 per transaction. and so it begins - to quote rocks The goal is to slowly introduce a fee market. First slowly knock out very low value transactions, then add SFSW to slightly increase capacity. Then knock out moderately low value transactions, then add 2017 2MB HF to slightly increase capacity.
They will increase capacity, but at a very slow rate that falls behind usage growth. The effect will be a slow introduction of a fee market that removes more and more use cases for Bitcoin. There is a limit to how slow Bitcoin can grow just like there is a limit to how slow an airplane can fly before it falls out of the sky. I don't know what that limit is, but somebody apparently wants to find out.
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adamstgBit
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Trusted Bitcoiner
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February 24, 2016, 08:26:44 PM |
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LOL, just withdrew some BTC from an exchange, they are paying 0.00015936 XBT = $0.0924195 CAD per tx. just got 2 confirmations in like 2 minus. Blocks are only full if your are not paying almost $0.10 per transaction.
We don't need to guesstimate: From cointape.com, based on what is happening: 1-10 satoshi per byte = from 7 blocks to infinity. 11-20 satoshi per byte = from 2 blocks to 28 21-30 satoshi per byte = from 0 to 5 blocks 31-40 satoshi per byte = from 0 to 2 blocks 41-50 satoshi per byte = from 0 to 1 blocks 10 satoshi per byte = 0.011$ per 258byte tx 20 satoshi per byte = 0.022$ per 258byte tx 30 satoshi per byte = 0.033$ per 258byte tx 40 satoshi per byte = 0.044$ per 258byte tx 50 satoshi per byte = 0.055$ per 258byte tx it's OK tho, when LN comes out fee will go right back to 1cent, because it will relieve a lot of pressure from the blockchain thats the plan right? LOL their plan is so full of contradictions
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blunderer
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February 24, 2016, 08:32:09 PM |
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^^The Blogchain knows you really didn't need to send a buck & are spamming. I hope Blogchain loses your bitcoin, to teach you not to mess with it.
valid transactions are valid transactions. $1 in Bitcoin was not spam in 2011 and it's not spam today. in fact $1 in March 2011 = 1BTC ($425 today). what will $1 in BTC be worth in 5 years. it's ignorant to want to control the money supply by wishing monetary units vanish or get lost, all valid transactions should be valid. Nay! Blogchain knoweth of Adam and his doings; the Blogchain revengeth! Blogchain is jealous and dost judge and punish him! For it is written, Thou shalt not tempt the Blogchain thy Blogchain. jk, i think
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AlexGR
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February 24, 2016, 08:38:23 PM |
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it's OK tho, when LN comes out fee will go right back to 1cent, because it will relieve a lot of pressure from the blockchain
LN is designed to improve scaling. Fee reductions are just a consequence of being able to conduct more transactions.
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adamstgBit
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February 24, 2016, 08:39:05 PM |
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bargainbin
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February 24, 2016, 08:44:48 PM |
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it's OK tho, when LN comes out fee will go right back to 1cent, because it will relieve a lot of pressure from the blockchain
LN is designed to improve scaling. Fee reductions are just a consequence of being able to conduct more transactions. Remember how the US$ got bootstrapped? the Gold Standard? Gold standard's long gone. People still use LN USD
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adamstgBit
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February 24, 2016, 08:45:56 PM |
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the sooner we get these clowns to get the fuck out the better.
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billyjoeallen
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Hide your women
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February 24, 2016, 08:52:03 PM |
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it's OK tho, when LN comes out fee will go right back to 1cent, because it will relieve a lot of pressure from the blockchain
LN is designed to improve scaling. Fee reductions are just a consequence of being able to conduct more transactions. Remember how the US$ got bootstrapped? the Gold Standard? Gold standard's long gone. People still use LN USD LN doesn't have legal tender laws to force people to use it. If it's not backed by Bitcoin (or something) the market will probably reject it in favor of something better.
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adamstgBit
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February 24, 2016, 08:54:35 PM |
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president of blockstreamI'll just slowly back away from blockstream before it implodes
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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February 24, 2016, 09:00:48 PM |
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marcus_of_augustus
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Eadem mutata resurgo
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February 24, 2016, 09:03:05 PM |
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I have a suspicion that there is quite a bit of stolen/extorted BTC lying around as well as money that needs to be laundered for other purposes in addition to BTC holdings that just want to remain anonymous through mixing. Blocks are filling up fast, which means mixing may get prohibitively expensive soon, so knowledge that blocks are filling up is actually making blocks fill up faster. mix -'em if you got 'em. the best mixing these days takes 1 or 2 tx at most .... coinjoin is a thing and there is market where you actually earn interest on your coins while they are 'mixed/joined' http://joinmarket.io/https://www.reddit.com/r/joinmarket/
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aztecminer
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February 24, 2016, 09:06:30 PM |
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3% left over why why is my TX not included lol LOL, just withdrew some BTC from an exchange, they are paying 0.00015936 XBT = $0.0924195 CAD per tx. just got 2 confirmations in like 2 minus. Blocks are only full if your are not paying almost $0.10 per transaction. and so it begins - to quote rocks The goal is to slowly introduce a fee market. First slowly knock out very low value transactions, then add SFSW to slightly increase capacity. Then knock out moderately low value transactions, then add 2017 2MB HF to slightly increase capacity.
They will increase capacity, but at a very slow rate that falls behind usage growth. The effect will be a slow introduction of a fee market that removes more and more use cases for Bitcoin. this is the awesome post of the day .. gimpedcoin is truly gimped. pay $.10 per transaction is way too cute... get with Bitcoin2Genuine today!
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adamstgBit
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February 24, 2016, 09:07:13 PM |
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block height 399878 0 confirmations
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adamstgBit
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February 24, 2016, 09:11:35 PM |
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next up i will pay for a sex toy with a tx that will never confrim, and have it shipped to blockstreams office
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bargainbin
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February 24, 2016, 09:13:03 PM |
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it's OK tho, when LN comes out fee will go right back to 1cent, because it will relieve a lot of pressure from the blockchain
LN is designed to improve scaling. Fee reductions are just a consequence of being able to conduct more transactions. Remember how the US$ got bootstrapped? the Gold Standard? Gold standard's long gone. People still use LN USD LN doesn't have legal tender laws to force people to use it. If it's not backed by Bitcoin (or something) the market will probably reject it in favor of something better. You're missing my point (or, rather, I'm just not being clear) Most people don't know or care what the $ is backed by. As long as I get my stuff when I hand over the $$$, everything's cool. Don't care what Visa is backed by, 'long as when I hand over the card, I get goodies. Same with LN. If people start using LN, and it becomes accepted, they're using LN, *NOT BITCOIN*. Just like when people started using $$$, they started using $$$, *NOT GOLD*. Saying that LN solves Bitcoin's tx problem is like saying USD solved gold's portability/divisibility/ease of use problem -- it's nonsense.
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