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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 2014260 times)
Cconvert2G36
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July 27, 2015, 04:16:13 AM
 #29341


oh hai



Less than 3 tps isn't going to cut it on the main chain, even in the reasonably near future, let alone forever.

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brg444
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Bitcoin replaces central, not commercial, banks


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July 27, 2015, 04:18:40 AM
 #29342


oh hai



Less than 3 tps isn't going to cut it on the main chain, even in the reasonably near future, let alone forever.



Then you should tell your friend over there on reddit that he should cancel his order while there is still time  Wink

"I believe this will be the ultimate fate of Bitcoin, to be the "high-powered money" that serves as a reserve currency for banks that issue their own digital cash." Hal Finney, Dec. 2010
Cconvert2G36
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July 27, 2015, 04:21:29 AM
 #29343


oh hai



Less than 3 tps isn't going to cut it on the main chain, even in the reasonably near future, let alone forever.



Then you should tell your friend over there on reddit that he should cancel his order while there is still time  Wink

If I used reddit I would. Even the 1MB foreva mantra leaves joe blow public with unreasonable hardware demands given enough time.

Edit: For context, I think a fee market for block space is an absolute necessity... eventually. But not when we get 25 btc every ten minutes. At this point in the distribution curve, incentivizing more transactions and more use is paramount. And as long as my 5 year old amd machine can easily handle 2-8MB blocks, and we have a statement from major miners saying they can too, I'm for it.
Dusty
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July 27, 2015, 06:48:27 AM
 #29344

Nice!

BTW, were you the same Dusty that responded in Rusty Russell's last  blog post?
Yes I am.

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sickpig
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July 27, 2015, 11:13:59 AM
 #29345

if memory serves both Adam Back and Joseph Poon said that SC and LN respectively needed a bigger block in any case.

(I'm actually in a hurry as soon as I've time I'll post reference to the source)

There is a huge difference between "a bigger block" and proposing to scale block sizes upward to the moon in an attempt to meet the core scaling demands of the system that way.


Sure there's a big difference and I was not endorsing any particular proposal on the table, be it BIP 100, 101, 102 you name it.

I just wanted to make clear that all the parties (modulo MP) agree on the fact that in a way or another the 1MB max block size has to be changed.

 

Bitcoin is a participatory system which ought to respect the right of self determinism of all of its users - Gregory Maxwell.
cypherdoc
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July 27, 2015, 11:18:55 AM
 #29346

Nice!

BTW, were you the same Dusty that responded in Rusty Russell's last  blog post?
Yes I am.


That was beautiful:  putting Rusty in his place.
cypherdoc
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July 27, 2015, 11:28:00 AM
 #29347

They were lying to you then, and they're lying to you now:

“I am positive that we will see state support emerging again in the next two days,” said Zhang."

http://www.wsj.com/articles/asian-stocks-fall-pressured-by-weak-earnings-overseas-1437961185
Peter R
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July 27, 2015, 12:47:30 PM
 #29348

At the request of Smoothie, here is an updated chart of the average block sizes.  With the spam coming to an end, we've dropped out of the red-zone:



In other news, I'm presently in Paris and looking to meet up over coffee or wine with any nearby Bitcoiners.  I'm meeting some people from Ledger Wallet on Tuesday at La Maison du Bitcoin, but if there's any readers/posters from Paris who'd like to chat bitcoin…send me a PM!

Run Bitcoin Unlimited (www.bitcoinunlimited.info)
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July 27, 2015, 01:41:42 PM
 #29349

They were lying to you then, and they're lying to you now:

“I am positive that we will see state support emerging again in the next two days,” said Zhang."

http://www.wsj.com/articles/asian-stocks-fall-pressured-by-weak-earnings-overseas-1437961185

The Chinese average joes are so gullible.  Did it never occur to them that Bejing and the PBOC took up sizable market positions years ago, engineered the recent market bubble, then dumped on the retail investors?  

So their Chinese gov't has no intention of doing anything except continuing to play the market right now, as they ARE the whale traders in their market right now.
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July 27, 2015, 02:09:10 PM
 #29350

getting critical now.  just broke near term support and approaching red line of death:

NewLiberty
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July 27, 2015, 03:33:46 PM
 #29351

They were lying to you then, and they're lying to you now:

“I am positive that we will see state support emerging again in the next two days,” said Zhang."

http://www.wsj.com/articles/asian-stocks-fall-pressured-by-weak-earnings-overseas-1437961185

Its almost as if they don't understand how much this market panic this state support causes.  Especially given its temporary and sporadic nature, the pro move is to sell now and buy back after the even worse crash when it ends.

FREE MONEY1 Bitcoin for Silver and Gold NewLibertyDollar.com and now BITCOIN SPECIE (silver 1 ozt) shows value by QR
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July 27, 2015, 04:29:57 PM
 #29352

They were lying to you then, and they're lying to you now:

“I am positive that we will see state support emerging again in the next two days,” said Zhang."

http://www.wsj.com/articles/asian-stocks-fall-pressured-by-weak-earnings-overseas-1437961185

Its almost as if they don't understand how much this market panic this state support causes.  Especially given its temporary and sporadic nature, the pro move is to sell now and buy back after the even worse crash when it ends.


I figure they know.  Its just that some CP members got caught long... the small bump needed to liquidate is now complete and so down we go.
justusranvier
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July 27, 2015, 04:31:13 PM
 #29353

http://brontecapital.blogspot.com/2012/06/macroeconomics-of-chinese-kleptocracy.html

http://brontecapital.blogspot.com/2012/06/follow-up-to-china-kleptocracy-post.html
msin
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July 27, 2015, 05:00:40 PM
 #29354

http://finance.yahoo.com/news/imf-paints-dim-picture-europe-151453069.html
cypherdoc
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July 27, 2015, 05:57:48 PM
 #29355


nice article:

Letting the 1 trillion euro ($1.1 trillion) plus scheme to buy chiefly government bonds run longer could be better still, he suggested. "It may need to go beyond that," he said.

the black hole of death.
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July 27, 2015, 06:01:33 PM
 #29356

Community and major stakeholders vote for a blocksize increase

Hmmm where did that ever happen  Huh

I sure hope by community and "major stakeholders" you are not referring to reddit and bitcointalk.org

I know! It's only a valid vote if it's conducted under the rules as sanctioned by central control.

Giveen our understand of the situation it could never happen.

The major stakeholders vote for a blocksize increase is just a prediction of the fork to a more distributed code base that supports the original vision of Bitcoin. It is yet to happen it's my opinion that it's a forgone conclusion, we'll have bigger blocks, the vote is just around the corner so you don't need to do much if you feel you have this one in the bag.

Thank me in Bits 12MwnzxtprG2mHm3rKdgi7NmJKCypsMMQw
cypherdoc
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July 27, 2015, 06:09:55 PM
 #29357

this looks good:

cypherdoc
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July 27, 2015, 06:45:53 PM
 #29358

this looks good:



i guess it was indeed good.
cypherdoc
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July 27, 2015, 07:13:36 PM
 #29359

this looks good too:

impulse
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July 27, 2015, 07:40:18 PM
 #29360

this looks good too:



Looking even better now, I have not seen the ask side look this thin in quite some time, it will be interesting to see how it fills in.
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