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Trongersoll
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June 02, 2013, 06:16:53 PM |
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As there is nothing new under the Sun, I suspect that this has been addressed before.
It has occurred to me that if the wallet clients do not make a concentrated effort to incorporate Dust into transactions when it will not affect the Transaction fee, then eventually all Bitcoins will turn to Dust. Analogy: If you only spend paper money and put the change in your pocket, eventually you will end up with a pocket full of change.
Some banks have no charge coin counting machines and all will accept rolled coins. We need some no cost way to consolidate Dust, or Dust will be all we have.
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leijurv
Member
 Offline
Activity: 63
Merit: 10
Vires in Numeris
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June 02, 2013, 06:32:26 PM |
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If all you have is dust, then you will use dust.
That sounded inspirational.
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Firstbits 1Leijurv. Or, if you like cats, Firstbits 1Kittens and 1catcat as well. If you're a chemist, also 1Helium, 1Erbium, 1Copper, 1Cerium, and 1Nickel. If you like numbers, 123four, 12234, 12three.
Keybase and onename user: leijurv.
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Trongersoll
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June 02, 2013, 06:36:40 PM |
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If all you have is dust, it is worth less than face value because of the transaction fees required to consolidate it.
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Dabs
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Activity: 2142
Merit: 1104
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June 03, 2013, 01:42:22 AM |
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As long as you have a single large coin, such as 10 BTC to 100 BTC, you can use that to consolidate your dust coins 50 outputs at a time for free, more or less (as long as the entire transaction is less than 10kb.)
For that, you'd need a client with coin control, preferably one that supports use of compressed public keys.
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Escrow Service (Services) - GPG ID: 32AD7565, OTC ID: DabsAll messages concerning escrow or with bitcoin addresses are GPG signed. Please verify. CompTIA A+, Microsoft Certified Professional, MCSA: Windows 10; Windows Server 2012, MCSE: Cloud Platform and Infrastructure; Productivity; Messaging
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Trongersoll
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June 03, 2013, 01:59:51 AM |
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and this client would be called?
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Blueberry408
Member
Offline
Activity: 98
Merit: 10
One American Sumbitch Which Love 8
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June 03, 2013, 02:13:53 AM |
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and this client would be called?
the vacuum |
Feel free to send along any spare floating point remainders: 1CVTqVbqHTw35xGKfp4vmxggKdkMVwswtr
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domob
Legendary
Offline
Activity: 1004
Merit: 1007
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June 03, 2013, 09:05:00 AM |
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You can look at some scripts I wrote for my own use in collecting dust: http://www.domob.eu/projects/coinCollection.phpThey work for me, but note that you should know what you are doing (and be aware of the risks). |
Use your Namecoin identity as OpenID: https://nameid.org/Donations: 1 domobKsPZ5cWk2kXssD8p8ES1qffGUCm | NMC: NC domobcmcmVdxC5yxMitojQ4tvAtv99pY BM-GtQnWM3vcdorfqpKXsmfHQ4rVYPG5pKS | GPG 0xA7330737 |
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Dabs
Staff
Legendary
Offline
Activity: 2142
Merit: 1104
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June 04, 2013, 01:39:39 AM |
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You can patch your own bitcoin-qt client, or you can use one pre-compiled (and signed) by other trustworthy members. Or you can use Armory as that has coin control.
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Escrow Service (Services) - GPG ID: 32AD7565, OTC ID: DabsAll messages concerning escrow or with bitcoin addresses are GPG signed. Please verify. CompTIA A+, Microsoft Certified Professional, MCSA: Windows 10; Windows Server 2012, MCSE: Cloud Platform and Infrastructure; Productivity; Messaging
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grue
Legendary
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Activity: 2100
Merit: 1140
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June 04, 2013, 01:42:59 AM |
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You can patch your own bitcoin-qt client, or you can use one pre-compiled (and signed) by other trustworthy members. Or you can use Armory as that has coin control.
here's my coin control  https://bitcointalk.org/index.php?topic=144331.60 |
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DeathAndTaxes
Donator
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Activity: 1218
Merit: 1005
Gerald Davis
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June 04, 2013, 01:48:22 AM |
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It has occurred to me that if the wallet clients do not make a concentrated effort to incorporate Dust into transactions when it will not affect the Transaction fee, then eventually all Bitcoins will turn to Dust. That is incorrect. The 0.8.2 client prevents the creation of dust (transactions with output below the dust threshold). There is no reason one ever needs to either intentionally or accidentally create an output below the dust threshold (unless one explicitly wanted to transfer an amount below it). |
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wiggi
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June 04, 2013, 03:43:24 PM |
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Dust will be all we have.
If all dust is systematically consolidated into larger coins (compared to "never mix coins from different sources and let the dust gather dust"), would this result in more database operations/larger blockchain files for all full clients? (more inputs/tx on average) Blockchain would be better prunable if dust is consolidated, of course. |
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