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Author Topic: WARNING! Bitcoin will soon block small transaction outputs  (Read 56724 times)
ProfMac
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July 04, 2013, 08:08:52 PM
 #561



would that now take twice as many confirmations=approximately doubling the amount of computational power NYC;)



http://www.youtube.com/watch?v=3iyDQQb2ses

The first confirmation occurs when a transaction is included in a block.
When another block is built, no mention is made of that transaction, but there is a link to the previous block.  This block is the 2nd confirmation.

The transaction size depends on how many inputs and outputs it has.  In general each input is the same size, no matter how much it is worth.  
The transactions are released cryptographically.  There is some computation used for this, but that amount of computation is negligible.  Compare it with the effort to sign a check, compared with the subsequent handling of that check.

The situation with dust is analogous to writing checks for $0.000 000 054.  Such a check consumes paper worth more than the amount paid.  It is a pesky nuisance.

Of course, we don't do that.  I don't know if there was minimum check size in Zimbabwe, but imagine writing a check for 1 Zimbabwe dollar.  Or imagine a merchant who has some griefer who always pays in boxes of Zimbabwe dollar bills.


I try to be respectful and informed.
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TradeFortress
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July 05, 2013, 07:03:05 AM
 #562

You can use offchain transactions. They also solve the problem of dust.
molecular
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July 07, 2013, 10:50:25 AM
 #563



would that now take twice as many confirmations=approximately doubling the amount of computational power NYC;)



http://www.youtube.com/watch?v=3iyDQQb2ses

The first confirmation occurs when a transaction is included in a block.
When another block is built, no mention is made of that transaction, but there is a link to the previous block.  This block is the 2nd confirmation.

you're feeding the troll and so am I.

happy, troll?

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July 07, 2013, 10:51:40 AM
 #564

You can use offchain transactions. They also solve the problem of dust.

Also notice how there is a service put up by a dude that uses the same handle as you that does facilitate just that Wink.

http://inputs.io

you're welcome.

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