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Author Topic: The Lunacy of BTU Supporters  (Read 3432 times)
dinofelis
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March 21, 2017, 04:29:00 PM
 #81

dymanics has the hard consensus of nodes and pools. which means NODES can vote against pools.

Here you go again.  If pools want A, and they have a serious $$$ stake in A, and the currently active nodes want B, what stops pools to fire up 3 times more nodes voting A for a tiny fraction of $$$ ?

Did you still not understand that proof of work was invented to avoid vote by node, because the above Sybil attack is far too easy ?

And don't confuse users (people exchanging coins for value in the market)  with nodes again...

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Every time a block is mined, a certain amount of BTC (called the subsidy) is created out of thin air and given to the miner. The subsidy halves every four years and will reach 0 in about 130 years.
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jonald_fyookball
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Core dev leaves me neg feedback #abuse #political


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March 21, 2017, 04:35:08 PM
 #82


And don't confuse users (people exchanging coins for value in the market)  with nodes again...



^ this.

nodes are simply relays, they don't have much power.

users have economic power, which trumps everything.

In the event of a split, nodes won't be the factor because if there is any ambiguity, SPV will check some reference block, and
users will stay on the chain they want to stay on.


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March 21, 2017, 04:35:29 PM
Last edit: March 21, 2017, 04:46:43 PM by franky1
 #83

dymanics has the hard consensus of nodes and pools. which means NODES can vote against pools.
Here you go again.  If pools want A, and they have a serious $$$ stake in A, and the currently active nodes want B, what stops pools to fire up 3 times more nodes voting A for a tiny fraction of $$$ ?

because that centralised mindset is just handing a hotpotato around nodes itself own...

not the nodes of merchants who have orphaned that block.
not the nodes of users who have orphaned that block.

pools can sybil themselves all they like.. end result is they are just playing with themselves in their own room.. while the rest of the network are getting good blocks from the other 19 pools that are following rules acceptable to the community.

Did you still not understand that proof of work was invented to avoid vote by node, because the above Sybil attack is far too easy ?

bitcoin doesnt just have one layer of protection. it has atleast 10.
nodes, coin holders that dont run nodes, and pools.. work in unison of consensus (symbiotic relationship of consent) to agree on a set of rules.
EG a low node count cannot change what pools accept
EG a low pool count cannot change what node accept
a low node or low pool count cannot change what coin holders accept

real consensus is about majority of the community

your thinking too 2 dimensionally about 1 security feature and expressing its flaw.
but your not seeing the bigger 3 dimensional overview of the other security features

And don't confuse users (people exchanging coins for value in the market)  with nodes again...
P.S stop thinking that nodes are not users. because your missing the big picture

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
dinofelis
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March 21, 2017, 04:43:35 PM
 #84


And don't confuse users (people exchanging coins for value in the market)  with nodes again...



^ this.

nodes are simply relays, they don't have much power.

users have economic power, which trumps everything.

In the event of a split, nodes won't be the factor because if there is any ambiguity, SPV will check some reference block, and
users will stay on the chain they want to stay on.



Indeed, franky1 is AGAIN confusing both.

Of course, users use nodes.  But users market weight is not proportional to the NUMBER OF NODES.

A big exchange has one single node, but has a bloody heavy market weight.  I'm running a node too, and my market weight is essentially zero.  The 5 times a year I buy something with bitcoin is entirely negligible.  Do you really think that my node should count as much as a big exchange's node ?  Do you think that my node is as heavy as the Winkelvoss brothers' node they may use ?

There are about 4000 bitcoin nodes.  My weight is 1/4000 of "nodes".  I don't control $5 million dollars of bitcoin (at all - I'm only using it as a currency, and very rarely so).  I'm maybe even going to set up a second node, for the fun of it.  Do you think that my vote should count twice ?

THAT is the reason why proof of work is used as a consensus "voting" system, and not "proof of node".

Users only need ONE single node to connect their wallets to. 
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March 21, 2017, 05:36:14 PM
 #85

My current thoughts on this matter are:

1. Mining nodes = blockchain builders and source of new coins
2. Business nodes = coin utility enablers by supplying goods or services
3. User nodes = source of economic activity by moving coins

1 + 2 are the nodes that in consensus dictate the protocol. 3 either follow or become unsynced. May as well become SPV wallets in the long run.

Thats my two sats for now, but don't worry - it won't confirm as its not worthy of inclusion due to the transaction fee.


Scaling and transaction rate: https://bitcointalk.org/index.php?topic=532.msg6306#msg6306
Do not allow demand to exceed capacity. Do not allow mempools to forget transactions. Relay all transactions. Eventually confirm all transactions.
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