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Author Topic: WARNING! Bitcoin will soon block small transaction outputs  (Read 58207 times)
crazy_rabbit
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May 05, 2013, 09:15:11 PM
 #61

If the vast majority of the community doesn't like this move can't we just ignore the new patch and refuse to upgrade?

Go ahead. :-) I think you will be disappointed however.

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There are several different types of Bitcoin clients. Hybrid server-assisted clients like Electrum get a lot of their network information from centralized servers, but they also check the server's results using blockchain header data. This is perhaps somewhat more secure than either server-assisted clients or header-only clients.
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May 05, 2013, 09:16:31 PM
 #62

If the vast majority of the community doesn't like this move can't we just ignore the new patch and refuse to upgrade?

Go ahead. :-) I think you will be disappointed however.

How so? If the vast majority stick with the 0.8.1 client I think the 0.8.2 client people would be disappointed.

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bitcoiners
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May 05, 2013, 09:16:41 PM
 #63

This is bad news for Bitcoin.

Well, there is always Litecoin.

Cheers.

Uh, last I checked Litecoin is *more* expensive per transaction then Bitcoin. In order to fix the dust spam problem transaction fees are very high.

And last I heard there is a massive update due for Litecoin that is changing the transaction fees.  Unless no one is working on Litecoin and I was misinformed.
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May 05, 2013, 09:17:36 PM
 #64

If the vast majority of the community doesn't like this move can't we just ignore the new patch and refuse to upgrade?

Go ahead. :-) I think you will be disappointed however.

If the majority doesn't upgrade and the majority doesn't want it.  Then the devs need to listen to the majority.  End of Story.
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May 05, 2013, 09:18:03 PM
 #65

If the vast majority of the community doesn't like this move can't we just ignore the new patch and refuse to upgrade?

So NOT upgrading would work against this? What are the other alternatives? Would changing wallets work?

I seriously want to opt out of this one. Please list the alternatives so people/miners can decide for themselves.

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May 05, 2013, 09:20:38 PM
 #66

You can all thank Erik "Tony Hayward" Voorhees for polluting the blockchain so badly that this has come to pass.

Thanks for "stress testing" us to a hard-fork, Erik (again). You're such a champ - at taking people's money. I'd also like to thank all the mouth-breathing fools that thought Satoshi Dice was a good idea. You're also at fault too.

Great job, Erik - you profit-first douchebag.

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May 05, 2013, 09:25:25 PM
Last edit: May 06, 2013, 01:06:09 PM by hello_good_sir
 #67

In theory this is not a protocol change, but in practice it isn't.

Miners running this fork of the software will not only not process small transactions, but they will not even relay them.  Which means that miners running legitimate clients will not be able to process small transactions because these transactions will never be relayed to them.

Bitcoin is no longer sufficiently divisible to be the global currency.  This really changes the potential maximum valuation.

Anyone blaming Satoshi's Dice is not contributing to the conversation.  The block size is limited to 1 MB, which is not too big.  If you don't want SD transactions in the chain feel free to out-compete them by making transactions with larger fees.

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May 05, 2013, 09:27:04 PM
 #68

You can all thank Erik "Tony Hayward" Voorhees for polluting the blockchain so badly that this has come to pass.

Thanks for "stress testing" us to a hard-fork, Erik (again). You're such a champ - at taking people's money. I'd also like to thank all the mouth-breathing fools that thought Satoshi Dice was a good idea. You're also at fault too.

Great job, Erik - you profit-first douchebag.
Nonsense, bitcoin is about profit and free market, if a single person is able to do so much damage then it is bitcoin fault

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May 05, 2013, 09:28:01 PM
 #69

This is a big hit on my business model.

Volatility of price is one thing...volatility of functionality is another.

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TsuyokuNaritai
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May 05, 2013, 09:29:38 PM
 #70

Maybe use litecoin, that's one of the reasons it was created.

Minimal fee is 0.1 LTC. It's 35 cents. Too high for micro-transactions.

Does anyone know which alts are currently ideal for micro-transactions?

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May 05, 2013, 09:29:51 PM
 #71

In theory this is not a protocol change, but in practice it is.

Miners running this fork of the software will not only not process small transactions, but they will not even relay them.  Which means that miners running legitimate clients will not be able to process small transactions because these transactions will never be relayed to them.

Bitcoin is no longer sufficiently divisible to be the global currency.  This really changes the potential maximum valuation.

Anyone blaming Satoshi's Dice is not contributing to the conversation.  The block size is limited to 1 MB, which is not too big.  If you don't want SD transactions in the chain feel free to out-compete them by making transactions with larger fees.
fuck you! you should not decide what my computer send and what it does not send. if i don't want to relay transactions under a certain value, i don't relay them.

fork the client, and stop crying.

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May 05, 2013, 09:30:27 PM
 #72

I don't want to derail this thread, which is a good debate on whether or not there should be a patch.

So, for those who are firmly in the camp that this is a very bad patch and want to boycott the upgrade, go here:

https://bitcointalk.org/index.php?topic=196259.msg2040300#msg2040300

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May 05, 2013, 09:31:32 PM
 #73

I don't want to derail this thread, which is a good debate on whether or not there should be a patch.

So, for those who are firmly in the camp that this is a very bad patch and want to boycott the upgrade, go here:

https://bitcointalk.org/index.php?topic=196259.msg2040300#msg2040300

You need to make a poll...
gweedo
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May 05, 2013, 09:31:39 PM
 #74

I agree with this we need to fork, bitcoin was once known for the small transactions, and they want to take that away. Gavin has an ego and it needs to be taken under control. This is ridiculous this is a fix because they don't want to spend time trying to fix the bloat of the blockchain thru censorship!

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May 05, 2013, 09:32:47 PM
 #75


Volatility of price is one thing...volatility of functionality is another.

Bingo...

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May 05, 2013, 09:33:45 PM
 #76

I think that the point here is that we don't have any better solutions. I don't care about pico dollars transactions. I'm worried about how it looks like we can't handle a high volume of transactions.

My anger against what is wrong in the Bitcoin community is productive:
Bitcointa.lk - Replace "Bitcointalk.org" with "Bitcointa.lk" in this url to see how this page looks like on a proper forum (Announcement Thread)
Hashfast.org - Wiki for screwed customers
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May 05, 2013, 09:34:04 PM
 #77

From what i've read, what people are saying is that 0.8.2. is going to not allow micro transactions worth less than 5430 satoshi's?
Bitcoin was designed to be divisible by 8 decimal places, If we are removing some of those decimals we are undermining the entire structure of bitcoin!

I can fully understand and agree that a transaction of .00000002 should be blocked though

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bitcoiners
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May 05, 2013, 09:36:35 PM
 #78

I think that the point here is that we don't have any better solutions. I don't care about pico dollars transactions. I'm worried about how it looks like we can't handle a high volume of transactions.

Agreed.  Also who is saying the price is staying where it is?  It could go to 10k then these transactions would be necessary.  So we change functionality again?  Sorry, this is bullshit.
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May 05, 2013, 09:39:31 PM
 #79

If the vast majority of the community doesn't like this move can't we just ignore the new patch and refuse to upgrade?

Go ahead. :-) I think you will be disappointed however.

How so? If the vast majority stick with the 0.8.1 client I think the 0.8.2 client people would be disappointed.

Well they are fixing things in the upgrade releases, so I think in general you will want to upgrade. If not now, then eventually. Bitcoin is still Beta level software- there are still quite a few bugs to be worked out.

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bitcoiners
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May 05, 2013, 09:41:53 PM
 #80

If the vast majority of the community doesn't like this move can't we just ignore the new patch and refuse to upgrade?

Go ahead. :-) I think you will be disappointed however.

How so? If the vast majority stick with the 0.8.1 client I think the 0.8.2 client people would be disappointed.
Bitcoin is still Beta level software- there are still quite a few bugs to be worked out.

Um, transaction size is not a bug.
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