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Author Topic: WARNING! Bitcoin will soon block small transaction outputs  (Read 58176 times)
bitcoiners
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May 06, 2013, 03:23:32 AM
 #201

Dear noobs, relax, turned out you are not only ones who have no clue. In fact it seems you have inspired Bitcoin Magazine to regurgitate and publish ( http://www.reddit.com/r/Bitcoin/comments/1drnvp/bitcoin_developers_adding_0007_minimum/ )  whatever nonsense you are saying here. Congratulations!



The btc establishment backs this and speaks loud and clear... The 1% speaks in every monetary system and the 1% are saying, "if you are too fucking poor don't weight us fucking down... Fuck off!"

Imagine that.
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pekv2
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May 06, 2013, 03:27:29 AM
 #202

Dear noobs, relax, turned out you are not only ones who have no clue. In fact it seems you have inspired Bitcoin Magazine to regurgitate and publish ( http://www.reddit.com/r/Bitcoin/comments/1drnvp/bitcoin_developers_adding_0007_minimum/ )  whatever nonsense you are saying here. Congratulations!



Happy redditing.

http://www.reddit.com/r/Bitcoin/comments/1drs61/bitcoincensored/
boonies4u
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May 06, 2013, 03:29:29 AM
 #203

That is for miners only not the users. So yeah guess you didn't read.
It changes the behavior all around, but if you create transactions miners won't mine you won't be too happy.

It creates changes that SOME miners won't mine, right? Nothing wrong with that. Hell, a miner could right now charge 1 BTC fee per transaction if he wants. It just means no transactions will go through on the blocks he mines. I'm okay with that.

You're okay with miners being rewarded for not confirming any transactions?
marcus_of_augustus
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May 06, 2013, 03:31:31 AM
 #204

I think I might set my dust limit way high like

Code:
minrelaytxfee=0.01

I'm sick of carrying around a whole lot of everybody else's crap. When you exist on dial-up connection and old hardware you might appreciate what the cost of TX actually are. Maybe a lot of the people spouting off about this are actually spoiled brats with high-end rigs and fibre-optic connections living on free electricity?  Wink

Then you shouldn't even be using a full node, go use a lightweight node, otherwise I see no reason to complain.

What?! Are you trying to censor me off the blockchain just because I have dial-up and old hardware? [sarc]Facist nazi rich prick![/sarc]

bitcoiners
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May 06, 2013, 03:33:05 AM
Last edit: May 06, 2013, 03:44:54 AM by bitcoiners
 #205

Dear noobs, relax, turned out you are not only ones who have no clue. In fact it seems you have inspired Bitcoin Magazine to regurgitate and publish ( http://www.reddit.com/r/Bitcoin/comments/1drnvp/bitcoin_developers_adding_0007_minimum/ )  whatever nonsense you are saying here. Congratulations!



LOL!

Top comment on reddit.

Quote
And now Bitcoin Magazine has proved to be just as completely clueless about Bitcoin as a bunch of noobs on the forums and reddit.
.


You are only damaging your own rep Vlad.  Who cares what we on the forums say? lol what an idiot.
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May 06, 2013, 03:36:25 AM
 #206

I think I might set my dust limit way high like

Code:
minrelaytxfee=0.01

I'm sick of carrying around a whole lot of everybody else's crap. When you exist on dial-up connection and old hardware you might appreciate what the cost of TX actually are. Maybe a lot of the people spouting off about this are actually spoiled brats with high-end rigs and fibre-optic connections living on free electricity?  Wink

Then you shouldn't even be using a full node, go use a lightweight node, otherwise I see no reason to complain.

What?! Are you trying to censor me off the blockchain just because I have dial-up and old hardware? [sarc]Facist nazi rich prick![/sarc]

LMAO totally trying to censor you, but I am adding a variable that makes it so if you get the lightweight client by default but if you change a variable you can have the full node. LMAO

Time to buy some wiener schnitzel with bitcoins after a hard day of being a nazi LMAO

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May 06, 2013, 03:52:38 AM
 #207


TradeFortress 🏕
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May 06, 2013, 03:53:26 AM
 #208


Tracking pixel?
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May 06, 2013, 03:54:49 AM
 #209

lol I copied it to imgur and didn't realize I only grabbed the pixel Smiley

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May 06, 2013, 04:09:50 AM
 #210

So link to this Gaving "IThinkImUSAPresident" Andresen guy comment.
https://github.com/bitcoin/bitcoin/pull/2577#issuecomment-17141937

Quote
Bitcoin is not appropriate for transactions less than a penny or three.
´
That's what he says, that's his opinion, why should everyone do what he says? CENSORSHIP. DICTATORSHIP. END THIS NOW.

They are creating a bitcoin fork: FREECOIN VS BANKCOIN.
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May 06, 2013, 04:14:44 AM
 #211

Good step towards lowering spammy transactions like SatoshiDice, which is idiot tax anyways. If you want to risk your coin for more coin, then look at an even odds bitcoin lottery, like http://www.satoshisploder.com

Your creating the same exact transactions as Satoshi Dice LMAOOOOOOOOOOOO What?

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marcus_of_augustus
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May 06, 2013, 04:15:18 AM
 #212

So link to this Gaving "IThinkImUSAPresident" Andresen guy comment.
https://github.com/bitcoin/bitcoin/pull/2577#issuecomment-17141937

Quote
Bitcoin is not appropriate for transactions less than a penny or three.
rant scrubbed out here ...


You omitted the rest of Gavin's comment that succinctly points towards the technical reasons why this change is necessary now and timely ... (to suit your own agenda?)

Quote
Bitcoin is not appropriate for transactions less than a penny or three.

If Moore's Law continues to hold, then one day it might be.

That is all out of scope for this pull request; if we do nothing, then we are stuck with MIN_RELAY_TX_FEE=0.0005 BTC.


Daily Anarchist
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May 06, 2013, 04:22:07 AM
 #213

That is for miners only not the users. So yeah guess you didn't read.
It changes the behavior all around, but if you create transactions miners won't mine you won't be too happy.

It creates changes that SOME miners won't mine, right? Nothing wrong with that. Hell, a miner could right now charge 1 BTC fee per transaction if he wants. It just means no transactions will go through on the blocks he mines. I'm okay with that.

You're okay with miners being rewarded for not confirming any transactions?

Yes. But if they do those miners won't get any fee money, which means they'll make less money than other miners, which means they'll lose in the long run.

Discover anarcho-capitalism today!
GoldenWings91
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May 06, 2013, 04:32:57 AM
 #214

The amount of misinformation is mind boggling. Currently if you want to set the minimum tx fee and minimum relay fee you have to edit the source code and compile it. This pull request will now allow you to set the fees by invoking a command (-mintxfee -minrelayfee ) without having to compile the program each time. The default value is set to 54.3uBTC witch you can change to whatever you like.

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Bitcoinm
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May 06, 2013, 04:38:22 AM
 #215

Can anyone estimate how this will effect the number of transactions in the future?
TradeFortress 🏕
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May 06, 2013, 04:38:54 AM
 #216

Can anyone estimate how this will effect the number of transactions in the future?
It shouldn't have much effect. SD and etc will simply just send 5430 satoshis or so.
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May 06, 2013, 04:45:44 AM
 #217

I previously spoke out against this.  Now that I know it is simply a default, and the mintxrelay is an optional setting, I am fine with the change.
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May 06, 2013, 04:46:52 AM
 #218

I previously spoke out against this.  Now that I know it is simply a default, and the mintxrelay is an optional setting, I am fine with the change.

Hear, hear!

Discover anarcho-capitalism today!
JamesTaylor
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May 06, 2013, 04:53:16 AM
 #219

To everyone saying that this is good because it lets you do something that you had to recompile the code itself to do it before, I'll let you know that what people is complaining about is not the fact that the amount can be changed but the fact that the default value is not only arbitrary but inappropriate.

Similar to what some internet browsers used to do with the default search engine.
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May 06, 2013, 04:57:30 AM
 #220

the default value is not only arbitrary but inappropriate
That's a significant de-escalation at least from the original hysteria at least.

The next stage of enlightenment happens when you read Gavin's posts about how having a default value at all is temporary until the code for automatically calculating one based on a market mechanism between users and miners is ready.
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