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Author Topic: Microsoft Researchers Suggest Method to Improve Bitcoin Transaction Propagation  (Read 16387 times)
cbeast
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Let's talk governance, lipstick, and pigs.


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November 23, 2011, 10:32:21 PM
 #121

i leave 4 separate clients open and i don't even mine.  i do it for philosophical reasons to "help" the network.  doesn't cost me anything.
Everything costs something!

If bitcoin becomes fully fledged monetary system things like enthusiasm, altruism, philanthropy and philosophy will not be enough to secure its future! After all, it is about money! All tricks will be used both technically and economically to game the system and abuse it. Every expense that is possible to avoid paying will not be paid by participating agents in the network! There is no doubt about that... The big question here is whether all those avoidable expenses are fundamental incentives to keep bicoin network running?

I don't think of the Bitcoin client as simply a way to spend Bitcoin, even though that's about all it is at the moment. I think of my computers as machines for (sometimes monkey) business. If you want a productive business, you find ways to keep your machinery running 24/7. I think that will be the goal of software designers to craft tools using Bitcoin to stay on making money. I'm not talking about mining, but real world businesses that will depend on a robust Bitcoin network.

[edit]
I wouldn't be surprised if M$, Google, Facebook, Mozilla, Apple, (pardon my bias) etc. doesn't have NDAs regarding major development for BTC based apps. I can't imagine big ballers not creating Open Transaction servers, microtransactions, anti-spam postage based email, deed of title apps, escrow based courier services, and probably hundreds of other unique products and services that take advantage of Bitcoin's unique properties.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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November 25, 2011, 12:03:54 AM
 #122

i leave 4 separate clients open and i don't even mine.  i do it for philosophical reasons to "help" the network.  doesn't cost me anything.
Everything costs something!

If bitcoin becomes fully fledged monetary system things like enthusiasm, altruism, philanthropy and philosophy will not be enough to secure its future! After all, it is about money! All tricks will be used both technically and economically to game the system and abuse it. Every expense that is possible to avoid paying will not be paid by participating agents in the network! There is no doubt about that... The big question here is whether all those avoidable expenses are fundamental incentives to keep bicoin network running?

I don't think of the Bitcoin client as simply a way to spend Bitcoin, even though that's about all it is at the moment. I think of my computers as machines for (sometimes monkey) business. If you want a productive business, you find ways to keep your machinery running 24/7. I think that will be the goal of software designers to craft tools using Bitcoin to stay on making money. I'm not talking about mining, but real world businesses that will depend on a robust Bitcoin network.

[edit]
I wouldn't be surprised if M$, Google, Facebook, Mozilla, Apple, (pardon my bias) etc. doesn't have NDAs regarding major development for BTC based apps. I can't imagine big ballers not creating Open Transaction servers, microtransactions, anti-spam postage based email, deed of title apps, escrow based courier services, and probably hundreds of other unique products and services that take advantage of Bitcoin's unique properties.

very, very interesting insight.  i hadn't thought about that.  if we are all so fascinated by this technology, how could the big boys not be?  i know of several PhD mathematicians, computer geeks, and economists who are fascinated with Bitcoin and these are precisely the type of ppl who'd be employed by these large players.  if they're smart they would be getting ready for the snowball effect.
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November 25, 2011, 12:18:43 AM
 #123

i leave 4 separate clients open and i don't even mine.  i do it for philosophical reasons to "help" the network.  doesn't cost me anything.
Everything costs something!

If bitcoin becomes fully fledged monetary system things like enthusiasm, altruism, philanthropy and philosophy will not be enough to secure its future! After all, it is about money! All tricks will be used both technically and economically to game the system and abuse it. Every expense that is possible to avoid paying will not be paid by participating agents in the network! There is no doubt about that... The big question here is whether all those avoidable expenses are fundamental incentives to keep bicoin network running?

maybe i should frame it differently.  i also have an economic incentive to leave my computers on to support the network.  i have a substantial investment in Bitcoin as do many others who compose the network.  its about taking care of one's money.  you don't just leave it out on the front lawn for anyone to take.  you build a safe in a remote area of your house and fortify it to the extent you feel comfortable.  you may buy a few guns also just in case.  it may cost me a few cents to keep those computers on but i want to take care of my money!
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November 25, 2011, 04:00:38 AM
 #124

i leave 4 separate clients open and i don't even mine.  i do it for philosophical reasons to "help" the network.  doesn't cost me anything.
Everything costs something!

If bitcoin becomes fully fledged monetary system things like enthusiasm, altruism, philanthropy and philosophy will not be enough to secure its future! After all, it is about money! All tricks will be used both technically and economically to game the system and abuse it. Every expense that is possible to avoid paying will not be paid by participating agents in the network! There is no doubt about that... The big question here is whether all those avoidable expenses are fundamental incentives to keep bicoin network running?

maybe i should frame it differently.  i also have an economic incentive to leave my computers on to support the network.  i have a substantial investment in Bitcoin as do many others who compose the network.  its about taking care of one's money.  you don't just leave it out on the front lawn for anyone to take.  you build a safe in a remote area of your house and fortify it to the extent you feel comfortable.  you may buy a few guns also just in case.  it may cost me a few cents to keep those computers on but i want to take care of my money!
But like it or not, if Bitcoin goes viral you are nothing. You are one of 7 billion. The cost to keep your computers on is a few cents; the expected risk for not doing so is your entire bitcoin stash... divided by 7 billion. The economic incentive is outweighed by the disincentive.
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