solex
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100 satoshis -> ISO code
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August 09, 2014, 11:04:16 PM |
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Thanks a ton for that link! There was a short discussion in the "gold collapsing" thread about block propagation and invertible bloom lookup tables (triggered by gavins slightly mysterious tweet) that raised questions. This piece (indeed well-written) answers most of them. That IBLT is an amazing data structure, btw. Still kind-of open question for me (also touched on in that gist): what does this do to incentives? Yes. I was really pleased to see his write-up! I think the incentives are much improved. The use of IBLT blocks means that miners which hide transactions (like double-spends) are disincentivized to do that because if they publish an IBLT they are relying on the rest of the network having all the transactions in their own mempool and not having to look for missing ones. IBLT blocks which have the best propagated transactions are most likely to win the race to get accepted and built upon. It is a win-win paradigm improvement. |
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Peter R
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August 09, 2014, 11:28:24 PM |
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Still kind-of open question for me (also touched on in that gist): what does this do to incentives?
Yes. I was really pleased to see his write-up! I think the incentives are much improved. The use of IBLT blocks means that miners which hide transactions (like double-spends) are disincentivized to do that because if they publish an IBLT they are relying on the rest of the network having all the transactions in their own mempool and not having to look for missing ones. IBLT blocks which have the best propagated transactions are most likely to win the race to get accepted and built upon. It is a win-win paradigm improvement. When I read his tweet, I was concerned that O(1) block propagation would drop transaction fees too low and allow the blockchain to fill up with spam. After reading this new write-up, I see the IBLT proposal not only improves TPS throughput, but also improves incentives. It takes some power away from centralized miners and returns it to the nodes! If you are anti-social and try to propagate blocks full of weird transactions that the network doesn't know about or that were dropped due to insufficient fees, then there's a better chance your block gets orphaned and you lose the coinbase reward. |
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byronbb
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HODL OR DIE
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August 09, 2014, 11:46:12 PM |
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Minor technicality: I would NOT call 3,600 BTC daily as almost 4k BTC daily.
I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point. I should check. If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract. Which in turn is indicative of a massive bubble imminent. But I haven't checked yet. hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct! do you have the means to check this? If so I would like to kindly ask you to do so. Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds. A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up. If this is true then the next bubble will be incredible. |
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BitChick
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Activity: 1148
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August 09, 2014, 11:49:11 PM |
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Minor technicality: I would NOT call 3,600 BTC daily as almost 4k BTC daily.
I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point. I should check. If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract. Which in turn is indicative of a massive bubble imminent. But I haven't checked yet. hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct! do you have the means to check this? If so I would like to kindly ask you to do so. Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds. A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up. If this is true then the next bubble will be incredible. Like.  |
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hdbuck
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Activity: 1260
Merit: 1002
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August 09, 2014, 11:55:02 PM |
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Minor technicality: I would NOT call 3,600 BTC daily as almost 4k BTC daily.
I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point. I should check. If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract. Which in turn is indicative of a massive bubble imminent. But I haven't checked yet. hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct! do you have the means to check this? If so I would like to kindly ask you to do so. Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds. A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up. If this is true then the next bubble will be incredible. It is likely true. Who do you think bitfury or KNC deals with? the public price on exchanges are just so easy to manipulate just with 1/100 of what they mine daily. a little "networking" and you are the king of the public price. We are just hopeless sheeps and this is why the mining industry is the #1 bitcoin industry, surclassing finance etc.. The good part is that it is set to succeed, just squeezing each tear of profit before lightning up the next canddle  edit: cant wait for Intel to put their hands on bitcoin.. ^^ |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 09, 2014, 11:59:48 PM |
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JayJuanGee
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Activity: 4200
Merit: 12841
Self-Custody is a right. Say no to "non-custodial"
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August 10, 2014, 12:06:09 AM |
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Minor technicality: I would NOT call 3,600 BTC daily as almost 4k BTC daily.
I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point. I should check. If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract. Which in turn is indicative of a massive bubble imminent. But I haven't checked yet. hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct! do you have the means to check this? If so I would like to kindly ask you to do so. Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds. A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up. If this is true then the next bubble will be incredible. It is likely true. Who do you think bitfury or KNC deals with? the public price on exchanges are just so easy to manipulate just with 1/100 of what they mine daily. a little "networking" and you are the king of the public price. We are just hopeless sheeps and this is why the mining industry is the #1 bitcoin industry, surclassing finance etc.. The good part is that it is set to succeed, just squeezing each tear of profit before lightning up the next canddle edit: cant wait for Intel to put their hands on bitcoin.. ^^ However, don't we really want to do something about this problem.... I mean sooner or later, some people should be getting mad about this downward price manipulation b/c there exists so much behind the scene's trading that is NOT reflecting the true price and/or value of BTC... I do understand that in this case, sooner or later, the matter is going to come to bite them in the butt... when we should be getting these big ass green candles... at least that should be the end result of this particular ongoing market manipulation. |
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hdbuck
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Activity: 1260
Merit: 1002
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August 10, 2014, 12:16:24 AM |
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Minor technicality: I would NOT call 3,600 BTC daily as almost 4k BTC daily.
I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point. I should check. If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract. Which in turn is indicative of a massive bubble imminent. But I haven't checked yet. hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct! do you have the means to check this? If so I would like to kindly ask you to do so. Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds. A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up. If this is true then the next bubble will be incredible. It is likely true. Who do you think bitfury or KNC deals with? the public price on exchanges are just so easy to manipulate just with 1/100 of what they mine daily. a little "networking" and you are the king of the public price. We are just hopeless sheeps and this is why the mining industry is the #1 bitcoin industry, surclassing finance etc.. The good part is that it is set to succeed, just squeezing each tear of profit before lightning up the next canddle edit: cant wait for Intel to put their hands on bitcoin.. ^^ However, don't we really want to do something about this problem.... No we dont, since it is meant to succeed. And we are still pioneer. I mean sooner or later, some people should be getting mad about this downward price manipulation b/c there exists so much behind the scene's trading that is NOT reflecting the true price and/or value of BTC...
Yes because they dont get the big picture: it is meant to succeed. But people that can control, will always control. it's the deal that comes with Bitcoin's technology to be working: computing Power. Miners are the new wall street. And they are going to be the new people on top of the world. I do understand that in this case, sooner or later, the matter is going to come to bite them in the butt... when we should be getting these big ass green candles... at least that should be the end result of this particular ongoing market manipulation.
Now that would be too easy. They already got enough attention. FFS its barely been 4 years and Bitcoin is buzzing all around.. No need to rush it up, they know bitcoin will be there for long, they are making sure of it actually.. better letting it boiling up a little more.. remember we will have to hit the $2500-5000s on the next bubble.. |
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JayJuanGee
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Activity: 4200
Merit: 12841
Self-Custody is a right. Say no to "non-custodial"
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August 10, 2014, 12:24:15 AM |
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Minor technicality: I would NOT call 3,600 BTC daily as almost 4k BTC daily.
I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point. I should check. If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract. Which in turn is indicative of a massive bubble imminent. But I haven't checked yet. hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct! do you have the means to check this? If so I would like to kindly ask you to do so. Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds. A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up. If this is true then the next bubble will be incredible. It is likely true. Who do you think bitfury or KNC deals with? the public price on exchanges are just so easy to manipulate just with 1/100 of what they mine daily. a little "networking" and you are the king of the public price. We are just hopeless sheeps and this is why the mining industry is the #1 bitcoin industry, surclassing finance etc.. The good part is that it is set to succeed, just squeezing each tear of profit before lightning up the next canddle edit: cant wait for Intel to put their hands on bitcoin.. ^^ However, don't we really want to do something about this problem.... No we dont, since it is meant to succeed. We are pioneer. I mean sooner or later, some people should be getting mad about this downward price manipulation b/c there exists so much behind the scene's trading that is NOT reflecting the true price and/or value of BTC...
Yes because they dont get the big picture, it is meant to succeed. But people that can control, will always control. it's the deal that comes with Bitcoin's technology to be working: computing Power. Miners are the new wall street. And they are going to be the new people on top of the world. I do understand that in this case, sooner or later, the matter is going to come to bite them in the butt... when we should be getting these big ass green candles... at least that should be the end result of this particular ongoing market manipulation.
Now that would be too easy. They already got enough attention. No need to rush it up, they know bitcoin will be there for long, they are making sure of it actually.. better letting it boiling up a little more.. remember we will have to hit the $2500-5000s on the next bubble.. Thanks for your response... what you said makes sense and seems to be a fairly accurate assessment of the behind-the-scenes forces/dynamics. Actually, I did NOT expect you to answer the various concerns of my above post b/c I thought that you had been ignoring me, for about the last four months... he he he...  |
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hdbuck
Legendary
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Activity: 1260
Merit: 1002
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August 10, 2014, 12:31:48 AM |
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Minor technicality: I would NOT call 3,600 BTC daily as almost 4k BTC daily.
I am inclined to think that the overwhelming majority of mined coins move exactly once, at this point. I should check. If I am right it is indicative of price suppression on the exchanges to get good marks for buying virgin coin on contract. Which in turn is indicative of a massive bubble imminent. But I haven't checked yet. hey, cool! that would indeed be a good indication of the hypothesis (miners sell directly) being correct! do you have the means to check this? If so I would like to kindly ask you to do so. Ive mentioned it a couple of times on the forum already today, but I have it through very good sources that the majority of large miner coins that are being sold are being sold off exchange for a point or two premium by hedge funds. A large miner recently confirmed that he had had several calls put into him by hedge funds looking to buy every coin he had. If they are tracking him down, their tracking others down as well. I think this is one of the reason selling has practically dried up relative to what it used to be. Big money is desperate not to have the price run up. If this is true then the next bubble will be incredible. It is likely true. Who do you think bitfury or KNC deals with? the public price on exchanges are just so easy to manipulate just with 1/100 of what they mine daily. a little "networking" and you are the king of the public price. We are just hopeless sheeps and this is why the mining industry is the #1 bitcoin industry, surclassing finance etc.. The good part is that it is set to succeed, just squeezing each tear of profit before lightning up the next canddle edit: cant wait for Intel to put their hands on bitcoin.. ^^ However, don't we really want to do something about this problem.... No we dont, since it is meant to succeed. We are pioneer. I mean sooner or later, some people should be getting mad about this downward price manipulation b/c there exists so much behind the scene's trading that is NOT reflecting the true price and/or value of BTC...
Yes because they dont get the big picture, it is meant to succeed. But people that can control, will always control. it's the deal that comes with Bitcoin's technology to be working: computing Power. Miners are the new wall street. And they are going to be the new people on top of the world. I do understand that in this case, sooner or later, the matter is going to come to bite them in the butt... when we should be getting these big ass green candles... at least that should be the end result of this particular ongoing market manipulation.
Now that would be too easy. They already got enough attention. No need to rush it up, they know bitcoin will be there for long, they are making sure of it actually.. better letting it boiling up a little more.. remember we will have to hit the $2500-5000s on the next bubble.. Thanks for your response... what you said makes sense and seems to be a fairly accurate assessment of the behind-the-scenes forces/dynamics. Actually, I did NOT expect you to answer the various concerns of my above post b/c I thought that you had been ignoring me, for about the last four months... he he he... Meheh I sometime check on where your understanding of bitcoin is at. And i am not against exposing you my understanding of bitcoin when a see a windows to express it without chocking you somehow. Anyway, back on ignore.  |
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JayJuanGee
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Self-Custody is a right. Say no to "non-custodial"
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August 10, 2014, 12:39:40 AM |
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Meheh I sometime check on where your understanding of bitcoin is at. And i am not against exposing you my understanding of bitcoin when a see a windows to express it without chocking you somehow. Anyway, back on ignore. WTVR..... Talk with you again in 4-6 months when BTC prices will be a chockzing $765 or hopefully greater.    |
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hdbuck
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August 10, 2014, 12:46:32 AM |
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Meheh I sometime check on where your understanding of bitcoin is at. And i am not against exposing you my understanding of bitcoin when a see a windows to express it without chocking you somehow. Anyway, back on ignore. WTVR..... Talk with you again in 4-6 months when BTC prices will be a chockzing $765 or hopefully greater. yea, patience patience young padawan |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 10, 2014, 12:59:47 AM |
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ChartBuddy
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August 10, 2014, 02:02:25 AM |
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BRADLEYPLOOF
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August 10, 2014, 02:44:02 AM |
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Who wrote chartbuddy? I'd like to have a small discussion with them...  |
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empowering
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August 10, 2014, 02:45:47 AM |
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When my train pulls in - http://youtu.be/qyaHoCaS9W0 Some awesome blues : ) "I'll be ready now. I'll be ready when my train pulls in." |
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ChartBuddy
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1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
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August 10, 2014, 02:59:46 AM |
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hdbuck
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August 10, 2014, 03:02:35 AM |
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Davyd05
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August 10, 2014, 03:17:58 AM |
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The last 10 or so pages I've read have been full of good discussion...must mean the train is pulling out of the station LOOL...
I do subscribe to the nobody knows theory as well, and we can only hope to notice signs on the wall and make the right choices. I try not to be caught up in greed because though I would like to be wealthy I'm more interested in bitcoin opening the world up to decentralization and how it could possible save us from the corruption that grips us globally.
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empowering
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August 10, 2014, 03:30:00 AM |
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