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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 2009053 times)
cypherdoc
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August 12, 2015, 04:39:39 AM
 #30221

Mods moving XT threads into the altcoin sub forum to hide. Note iCEBLow in there demanding the banishment of competition:

https://bitcointalk.org/index.php?topic=1148679.msg12102884#msg12102884
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August 12, 2015, 04:45:26 AM
 #30222

Mods moving XT threads into the altcoin sub forum to hide. Note iCEBLow in there demanding the banishment of competition:

https://bitcointalk.org/index.php?topic=1148679.msg12102884#msg12102884

Hide? The altcoin sub forum has more traffic.
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August 12, 2015, 04:47:36 AM
 #30223

Mods moving XT threads into the altcoin sub forum to hide. Note iCEBLow in there demanding the banishment of competition:

https://bitcointalk.org/index.php?topic=1148679.msg12102884#msg12102884

Hide? The altcoin sub forum has more traffic.

Well I'LL be a rats ass!

TIL!
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August 12, 2015, 04:52:25 AM
 #30224

I'm really disappointed. Theymos is going full retard and muddying the waters by linking the 21M with the 1MB.
Just because there were two very obscure early bugs in the maintenance of the 21M supply limit does not mean that the limit is or ever was uncertain. It was always set in stone.

And lets take the beast head on. The 21 million limit. Firstly Satoshi never actually encoded that limit in hard stone, it was added by devs just last year I think. Secondly, we have not even heard of any arguments in favour of it's increase. If say in 20 years it does appear that the fees are insufficient, and for the example let us suppose we are using lightning, considering that so many coins have already been lost irrevocably and may continue to be lost, what makes you think that you can today pass judgment on what may be a different situation?

I expect pro-Increase-the-Block-Limit people like me and maybe this whole thread to be banhammered any day. So if that happens I will be over on: https://www.reddit.com/r/bitcoin_uncensored/




Theymos has always been an extremely light-handed mod.  If he hasn't started banhammering you whining, exaggerating, self-pitying, Godwinning Gavinista SOBs by now, he not going to suddenly change that policy.


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
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iCEBREAKER
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August 12, 2015, 04:55:57 AM
 #30225

There's not too many things you can do in this country to piss people  off  more than violating their First Amendment rights.

Go theymos!

You don't have a 1A right to post off-topic stuff to the wrong sub forum.

You don't have a 1A right to post on privately owned sites, period.

TIL even some highly educated professionals conflate moderation and censorship.   Tongue


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
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rocks
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August 12, 2015, 05:34:30 AM
 #30226

Someone on reddit posted a limited proof of concept lightning like network, that lacks some functionality since bitcoin is missing the required op codes.

Here is the discussion on the fees, it sounds straight out of that blockstream business plan from earlier today.

https://www.reddit.com/r/Bitcoin/comments/3gldfn/alpha_thundernetwork_a_lightning_network/ctzeppz

That's really what this is all about, creating new fee revenue streams that take fees from the main chain.
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August 12, 2015, 05:46:29 AM
 #30227

Someone on reddit posted a limited proof of concept lightning like network, that lacks some functionality since bitcoin is missing the required op codes.

Here is the discussion on the fees, it sounds straight out of that blockstream business plan from earlier today.

https://www.reddit.com/r/Bitcoin/comments/3gldfn/alpha_thundernetwork_a_lightning_network/ctzeppz

That's really what this is all about, creating new fee revenue streams that take fees from the main chain.

You mean the one that got thoroughly put to shame by mostly every sane poster on there?

You are also aware that lightning is an open source project right? Nobody is forcing you to use it.

Being an open source project says next to nothing about lock-ins that are achieved by network effects on related services.


 
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August 12, 2015, 05:49:46 AM
 #30228

Someone on reddit posted a limited proof of concept lightning like network, that lacks some functionality since bitcoin is missing the required op codes.

Here is the discussion on the fees, it sounds straight out of that blockstream business plan from earlier today.

https://www.reddit.com/r/Bitcoin/comments/3gldfn/alpha_thundernetwork_a_lightning_network/ctzeppz

That's really what this is all about, creating new fee revenue streams that take fees from the main chain.

You mean the one that got thoroughly put to shame by mostly every sane poster on there?

You are also aware that lightning is an open source project right? Nobody is forcing you to use it.

Being an open source project says next to nothing about lock-ins that are achieved by network effects on related services.

Lock-ins like everyone is using fiat/CC so I should feel obliged to do the same? Honestly not sure what you're getting at?

"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
Zangelbert Bingledack
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August 12, 2015, 06:15:28 AM
 #30229

Big middle finger to iCEBLOW, brg444, tvbcof, and MOA:



you still playing that game where you pretend any random thing that suits your delusions is confirmed true if price goes up  Huh

maybe you should move away from the keyboard forever then, we had a nice little rally that time you went camping or w/e

This level of price change is indeed just noise. Not a good strategy to try to tie conclusions to it, especially because insofar as you succeed you just set a precedent for the other side to do the same thing. Waste of time all around.
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August 12, 2015, 06:28:23 AM
 #30230

how did I not find this guy's medium blog before? full of gems

https://medium.com/@allenpiscitello

Quote
Why Votes Don’t Matter
Many of the proposals for the fork include a voting mechanism for miners to signal that they are upgraded. However, miners very easily can lie about their intentions. A miner may wish to trick other miners into mining the fork, then continue to mine the small block sizes in an attempt to have less competition by having miners waste efforts on a fork that will be orphaned. Votes will be extremely hard to trust.

"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
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August 12, 2015, 06:36:58 AM
 #30231

You are also aware that lightning is an open source project right? Nobody is forcing you to use it.

Being an open source project says next to nothing about lock-ins that are achieved by network effects on related services.

You mean like how Red Hat has a lock-in on Linux related services, or Oracle with Java?

Oh wait...maybe you meant like MyMonero.com?   Cheesy


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
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iCEBREAKER
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August 12, 2015, 06:46:39 AM
 #30232

https://medium.com/@allenpiscitello

Quote
Why Votes Don’t Matter
Many of the proposals for the fork include a voting mechanism for miners to signal that they are upgraded. However, miners very easily can lie about their intentions. A miner may wish to trick other miners into mining the fork, then continue to mine the small block sizes in an attempt to have less competition by having miners waste efforts on a fork that will be orphaned. Votes will be extremely hard to trust.

We knew vote spoofing due to incompetence was a thing from BIP66, and predicted much more would arise (due to malice/strategy) in a contentious/gameable situation.

That quote does a good job of unpacking the immediately obvious implications.

XT is trying to lure Bitcoin into a dangerous zone of chaos, where its antifragility would be tested like never before.


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
Buy XMR with fiat
Zangelbert Bingledack
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August 12, 2015, 06:46:59 AM
 #30233

Some serious vote manipulation going on in the Blockstream Business Plan thread.
smooth
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August 12, 2015, 06:53:47 AM
 #30234

You are also aware that lightning is an open source project right? Nobody is forcing you to use it.

Being an open source project says next to nothing about lock-ins that are achieved by network effects on related services.

You mean like how Red Hat has a lock-in on Linux related services, or Oracle with Java?

Oh wait...maybe you meant like MyMonero.com?   Cheesy

All three of those are valid examples. All three likely have weaker network effects than lightning nodes. MyMonero has
weakest network effects though. It doesn't have a thicket of related and dependent products to resist substitution.

That's all arguable certainly.
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August 12, 2015, 06:54:27 AM
 #30235

Some serious vote manipulation going on in the Blockstream Business Plan thread.

What exactly are you referring to?

For once it seemed to me the more balanced and reasonable opinions prevailed..

"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
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August 12, 2015, 07:00:15 AM
 #30236

You are also aware that lightning is an open source project right? Nobody is forcing you to use it.

Being an open source project says next to nothing about lock-ins that are achieved by network effects on related services.

You mean like how Red Hat has a lock-in on Linux related services, or Oracle with Java?

Oh wait...maybe you meant like MyMonero.com?   Cheesy

All three of those are valid examples. All three likely have weaker network effects than lightning nodes. MyMonero has
weakest network effects though. It doesn't have a thicket of related and dependent products to resist substitution.

That's all arguable certainly.

Seems the centralization/network effect of lightning nodes might not hold if Rusty gets his way...



https://www.reddit.com/r/Bitcoin/comments/3gmkak/the_blockstream_business_plan/ctzz2jz

"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
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August 12, 2015, 07:02:54 AM
 #30237

You are also aware that lightning is an open source project right? Nobody is forcing you to use it.

Being an open source project says next to nothing about lock-ins that are achieved by network effects on related services.

You mean like how Red Hat has a lock-in on Linux related services, or Oracle with Java?

Oh wait...maybe you meant like MyMonero.com?   Cheesy

All three of those are valid examples. All three likely have weaker network effects than lightning nodes. MyMonero has
weakest network effects though. It doesn't have a thicket of related and dependent products to resist substitution.

That's all arguable certainly.

Seems the centralization/network effect of lightning nodes might not hold if Rusty gets his way...



https://www.reddit.com/r/Bitcoin/comments/3gmkak/the_blockstream_business_plan/ctzz2jz

I question the incentive for a client to choose random nodes in that manner. Seems like it could work initially (as implemented by Rusty, etc.) but then break as clients get smarter.
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August 12, 2015, 07:11:21 AM
 #30238

This needs to be read by every doomsayers here:

https://medium.com/@allenpiscitello/there-is-no-crisis-20b58e14b09c

"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
rebuilder
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August 12, 2015, 07:13:05 AM
 #30239

Some serious vote manipulation going on in the Blockstream Business Plan thread.

I notice the OP there isn't adressing the issue that when Blockstream received their funding, LN wasn't yet around, so it's a bit hard to see how their business plan that got them 21 million USD could have relied on pushing people towards LN...

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August 12, 2015, 07:14:26 AM
 #30240


China has done it again.

http://www.bbc.com/news/business-33875061

 "This is now the biggest two-day lowering of the yuan's rate against the dollar in more than two decades. "


also at ZH http://www.zerohedge.com/news/2015-08-11/yuan-collapses-stocks-slide-credit-risk-hits-2-year-high-after-china-devalues-curren

top comment

'It's as if millions of carry traders screamed out in terror...and were suddenly silenced.' Shocked
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