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Question: Will you support Gavin's new block size limit hard fork of 8MB by January 1, 2016 then doubling every 2 years?
1.  yes
2.  no

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Author Topic: Gold collapsing. Bitcoin UP.  (Read 1979858 times)
79b79aa8d5047da6d3XX
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January 10, 2015, 08:56:08 PM
 #19961

wouldn't this tend to decrease time between blocks, and would that be an issue?
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cypherdoc
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January 10, 2015, 09:03:19 PM
 #19962

wouldn't this tend to decrease time between blocks, and would that be an issue?

no.  that's determined by the difficulty only.  the IBLT simply speeds the transmisssion "announcement"  across the network that a new block has been found and aligns the incentive across miners to include the complete set of unconfirmed tx's in their mempools into blocks.
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January 10, 2015, 09:19:32 PM
 #19963

http://www.ericsson.com/industry-transformation/wp-content/uploads/sites/6/2014/11/ict-and-the-future-of-financial-services.pdf


this is the thread where participants are able to comprehend text going beyond three sentences in a row. i throw in 44 pages of beauty. amazing. those guys are saying that banking did not evolve that far from its origins in ancient sumerian times and that it will face a major disruption due to ict. bitcoin mentioned.
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January 10, 2015, 09:26:14 PM
 #19964

Hey guys. What is being done (or what can be done) about competing with the likes of Visa as far as number of transactions it can accomodate and how quickly?

payment channels is the easiest best solution out there ... about 6 months away.

OT is next best, clumsy in comparison to payment channels but less bitcoin-centric and more versatile, any day we are repeatedly told ...

Odalv
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January 10, 2015, 09:55:02 PM
 #19965

Hey guys. What is being done (or what can be done) about competing with the likes of Visa as far as number of transactions it can accomodate and how quickly?

SIDECHAINS  Cheesy

Cypherdoc don't like sidechains. Are you poking him or is this your final answer? Cheesy

Cypherdoc does not understand tech.
molecular
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January 10, 2015, 10:19:51 PM
 #19966

fantastic summary

thanks, keep in mind, though: this is my somewhat simplified view. I might have missed something or even misunderstood.

to clarify.  it still means that we need to increase the block size concurrently with this proposal to accommodate the eventual full block construction that every miner maintaining a full node will need to perform after the IBLT has arrived and been verified.  it's just that the IBLT will allow a faster and smaller data "announcement" across the network that a new block has been found by the announcing miner.  if a receiving miner verifies the IBLT announcement, it can immediately start crunching the next block, which saves everyone time.

Yes.

It saves time and it should reduce orphans, thus also increase security a bit because less hashrate is lost to orphans.

And yes: we still need to increase the max blocksize (or do other more fancy stuff) if we want to handle more transactions. But: use of this scheme greatly reduces a problem (namely the cost/disincentive to mine large blocks) that would only grow more relevant with increasing transaction rate / block sizes.

And if I thought this through correctly back then it's something that can be done without requiring a fork of any kind by just a subset of collaborating miners. There is economic incentive to do this, but maybe it's not large enough at this point to overcome the effort to orchestrate, develop and deploy. There might also be other, maybe even simpler schemes that achieve the same thing. For all I know this (or something like it) could be in use already even without us knowing.

PGP key molecular F9B70769 fingerprint 9CDD C0D3 20F8 279F 6BE0  3F39 FC49 2362 F9B7 0769
solex
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100 satoshis -> ISO code


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January 10, 2015, 10:30:35 PM
 #19967

And yes: we still need to increase the max blocksize (or do other more fancy stuff) if we want to handle more transactions. But: use of this scheme greatly reduces a problem (namely the cost/disincentive to mine large blocks) that would only grow more relevant with increasing transaction rate / block sizes.

Absolutely. And looking some years ahead, this scheme is make or break when competing head-on with the likes of MC and VISA.

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January 10, 2015, 10:39:38 PM
 #19968

Hey guys. What is being done (or what can be done) about competing with the likes of Visa as far as number of transactions it can accomodate and how quickly?

SIDECHAINS  Cheesy

Cypherdoc don't like sidechains. Are you poking him or is this your final answer? Cheesy

Cypherdoc does not understand tech.

Or the economics for that matter.  He gets things right occasionally in one of those 'every squirrel finds a nut sometimes' sort of ways.

 edit: typo.

cypherdoc
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January 10, 2015, 10:47:26 PM
 #19969

Hey guys. What is being done (or what can be done) about competing with the likes of Visa as far as number of transactions it can accomodate and how quickly?

SIDECHAINS  Cheesy

Cypherdoc don't like sidechains. Are you poking him or is this your final answer? Cheesy

Cypherdoc does not understand tech.

no, i just don't understand your tech.

btw, you never explained to all of us just how you've implemented your federated server SC model that you claim are already operating; as if we who are opposed to SC's should just capitulate for this very reason.  i already explained how fucked up and insecure your federated server with SC model is already.
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January 10, 2015, 10:49:14 PM
 #19970

Hey guys. What is being done (or what can be done) about competing with the likes of Visa as far as number of transactions it can accomodate and how quickly?

SIDECHAINS  Cheesy

Cypherdoc don't like sidechains. Are you poking him or is this your final answer? Cheesy

Cypherdoc does not understand tech.

Or the economics for that matter.  He gets things right occasionally in one of those 'ever squirrel finds a nut sometimes' sort of ways.



says the assclown who thinks SC's are tokens; or at least should be.
tvbcof
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January 10, 2015, 10:52:28 PM
 #19971

Hey guys. What is being done (or what can be done) about competing with the likes of Visa as far as number of transactions it can accomodate and how quickly?

SIDECHAINS  Cheesy

Cypherdoc don't like sidechains. Are you poking him or is this your final answer? Cheesy

Cypherdoc does not understand tech.

Or the economics for that matter.  He gets things right occasionally in one of those 'ever squirrel finds a nut sometimes' sort of ways.

says the assclown who thinks SC's are tokens; or at least should be.

Some implemented in the back-end as such when it makes sense to do so given the goals of the particular sidechain.  Gotta problem with that cypherthick?


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January 10, 2015, 10:59:08 PM
 #19972

Hey guys. What is being done (or what can be done) about competing with the likes of Visa as far as number of transactions it can accomodate and how quickly?

SIDECHAINS  Cheesy

Cypherdoc don't like sidechains. Are you poking him or is this your final answer? Cheesy

Cypherdoc does not understand tech.

Or the economics for that matter.  He gets things right occasionally in one of those 'ever squirrel finds a nut sometimes' sort of ways.

says the assclown who thinks SC's are tokens; or at least should be.

Some implemented in the back-end as such when it makes sense to do so given the goals of the particular sidechain.  Gotta problem with that cypherthick?



yeah, i do have a problem with that, given the general philosophy around here by most that we're trying to reduce our dependence on centralized corrupt entities.

but of course, given your Socialistic background and propensity to favor statist tendencies, this is probably right up your alley, tvbcroc?
cypherdoc
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January 10, 2015, 11:08:48 PM
 #19973

it should reduce orphans, thus also increase security a bit because less hashrate is lost to orphans.

thanks.  i hadn't appreciated these 2 additional points.
Quote

And if I thought this through correctly back then it's something that can be done without requiring a fork of any kind by just a subset of collaborating miners.

how so?
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January 10, 2015, 11:49:36 PM
 #19974


says the assclown who thinks SC's are tokens; or at least should be.

Some implemented in the back-end as such when it makes sense to do so given the goals of the particular sidechain.  Gotta problem with that cypherthick?

yeah, i do have a problem with that, given the general philosophy around here by most that we're trying to reduce our dependence on centralized corrupt entities.

but of course, given your Socialistic background and propensity to favor statist tendencies, this is probably right up your alley, tvbcroc?

You don't understand 'dependency' either, eh?  Who could have guessed.


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January 11, 2015, 01:01:20 AM
 #19975


says the assclown who thinks SC's are tokens; or at least should be.

Some implemented in the back-end as such when it makes sense to do so given the goals of the particular sidechain.  Gotta problem with that cypherthick?

yeah, i do have a problem with that, given the general philosophy around here by most that we're trying to reduce our dependence on centralized corrupt entities.

but of course, given your Socialistic background and propensity to favor statist tendencies, this is probably right up your alley, tvbcroc?

You don't understand 'dependency' either, eh?  Who could have guessed.



well, why don't you explain just how your token SC system would work exactly, so we can all pick it apart?
cbeast
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Let's talk governance, lipstick, and pigs.


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January 11, 2015, 02:15:30 AM
 #19976

well, why don't you explain just how your token SC system would work exactly, so we can all pick it apart?
Thank you. Enough with engaging in hypotheticals. You can't stop anyone from inventing something by arguing. Same with SCs as with altcoins. Let them put THEIR money where their mouth is.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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January 11, 2015, 02:18:16 AM
 #19977

well, why don't you explain just how your token SC system would work exactly, so we can all pick it apart?
Thank you. Enough with engaging in hypotheticals. You can't stop anyone from inventing something by arguing. Same with SCs as with altcoins. Let them put THEIR money where their mouth is.

But...scalability?

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
cbeast
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Let's talk governance, lipstick, and pigs.


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January 11, 2015, 02:19:00 AM
 #19978

well, why don't you explain just how your token SC system would work exactly, so we can all pick it apart?
Thank you. Enough with engaging in hypotheticals. You can't stop anyone from inventing something by arguing. Same with SCs as with altcoins. Let them put THEIR money where their mouth is.

But...scalability?
Chicken, meet egg.

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
cypherdoc
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January 11, 2015, 02:32:13 AM
 #19979

well, why don't you explain just how your token SC system would work exactly, so we can all pick it apart?
Thank you. Enough with engaging in hypotheticals. You can't stop anyone from inventing something by arguing. Same with SCs as with altcoins. Let them put THEIR money where their mouth is.

don't worry.  we won't hear anything concrete from tvbcof.  he loves bullshitting.
cbeast
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Let's talk governance, lipstick, and pigs.


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January 11, 2015, 02:38:58 AM
 #19980

SCs and altcoins:
 "“You do all the work for us, honeybadger, and we’ll just eat whatever you find. How’s that? Whaddaya say, Stupid?”

Any significantly advanced cryptocurrency is indistinguishable from Ponzi Tulips.
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