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Author Topic: Faster bitcoin transaction times  (Read 12321 times)
Dabs
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November 02, 2014, 04:12:18 PM
 #61

Anyway, clearly you and I have moral compasses and looks like we'll just have to agree to disagree on the patent issue.  I'm not intending to use it to block Bitcoin from anything or chrage extremely unreasonable rates or anything like that.

With Bitcoin, anything above zero is extremely unreasonable. It's supposed to be open source.

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November 02, 2014, 05:01:30 PM
 #62

Well.. maybe if Bitcoin had patented the blockchain we wouln't have all these scammy coins you are talking about. lol
...

Who is this "Bitcoin" that would have "patented the blockchain"?
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November 02, 2014, 08:46:12 PM
 #63

Now that the discussion on side chains is more advanced, it looks like a side chain with faster block times could help with this. If it's merged-mined with bitcoin then it could be secure enough for smaller and faster tx.
You would have some money for everyday use on the fast side chain.


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gmaxwell
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November 03, 2014, 03:33:10 AM
 #64

Now that the discussion on side chains is more advanced, it looks like a side chain with faster block times could help with this. If it's merged-mined with bitcoin then it could be secure enough for smaller and faster tx.
You would have some money for everyday use on the fast side chain.
Perhaps but global consensus is inherently slow. There have been many good proposals for faster transactions which don't require a global consensus, and so they can achieve speeds that no global consensus system can achieve.
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November 03, 2014, 01:19:59 PM
Last edit: November 03, 2014, 01:52:06 PM by instagibbs
 #65

Great talk. I'd really like to see some responses.
Transcribe it. Watching an hour long video intended for a general audience is too much to ask given zero information.

I was hoping they'd have published their results by now. That'd be the shorter route. I'll see if I can get something on paper.

For now you can check out the slide deck(which is frankly pretty easy to understand): https://docs.google.com/presentation/d/1nVGCU6MDdLad8yOAmNWDbCUqXerq5Ss1B5J7AcLmZ1w/edit#slide=id.p13

edit: for me slide 66 is the money shot. Shows how changing to 2 or 5 minute block time would make 10% pools significantly less variant in returns. (and makes it harder to hide selfish mining style attacks, etc)
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November 05, 2014, 12:08:11 AM
 #66

Well.. maybe if Bitcoin had patented the blockchain we wouln't have all these scammy coins you are talking about. lol

Quite true. If Bitcoin had been patented it would have been a total flop, and thus no alt-coins would have been created.

Buy & Hold
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November 05, 2014, 01:32:14 AM
 #67

Anyway, clearly you and I have moral compasses and looks like we'll just have to agree to disagree on the patent issue.  I'm not intending to use it to block Bitcoin from anything or chrage extremely unreasonable rates or anything like that.

With Bitcoin, anything above zero is extremely unreasonable. It's supposed to be open source.

So I'm supposed to spend months of my life working for free?  Don't get me wrong I like crypto but I want to make some money.  I was pretty excited about sharing the idea..tell you what.

Anyone willing to pay me not to patent the idea? lol  I'll share the idea with you first given a non-disclosure agreement.

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November 05, 2014, 04:15:06 AM
 #68

Anyway, clearly you and I have moral compasses and looks like we'll just have to agree to disagree on the patent issue.  I'm not intending to use it to block Bitcoin from anything or chrage extremely unreasonable rates or anything like that.

With Bitcoin, anything above zero is extremely unreasonable. It's supposed to be open source.

So I'm supposed to spend months of my life working for free?  Don't get me wrong I like crypto but I want to make some money.  I was pretty excited about sharing the idea..tell you what.

Anyone willing to pay me not to patent the idea? lol  I'll share the idea with you first given a non-disclosure agreement.

I will pay you not to post anymore. 



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Dabs
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November 05, 2014, 09:38:40 AM
Last edit: October 15, 2016, 01:06:39 AM by Dabs
 #69

So I'm supposed to spend months of my life working for free?  Don't get me wrong I like crypto but I want to make some money.

Linux is open source.
Bitcoin is open source.
LibreOffice is a multiplatform open-source office suite.

I'm sure I can give you hundreds more examples. Each of those projects are "free to download and use" but the developers have happy lives and are being compensated somehow.

In the beginning, open source software looked like a saintly gift. Programmers would work hard, then give away the fruits of their labor to anyone who wanted it. Everyone would benefit from this act of pure charity.

Over time, however, companies realized they could make money and give away the software at the same time. They could do well by doing good. This wasn't a shock to some of the original open source advocates -- it was how some intended it to be. Richard Stallman, for one, always said that "free speech" was more important to him than "free beer." He embraced the idea that companies could charge anything they like -- as long as the user could fiddle with the code and distribute the result.

There is a common misconception that there is no money in open source software. It is true that open source code is free to download. But when it comes to making money you should think of this as an opportunity rather than a limitation.

    Businesses who make money in open source software include:

    MySQL (now owned by Oracle): Popular relational database.
    Red Hat: Major distributor of Linux for server and desktop use.
    WordPress: Widely used blogging platform.
    SugarCRM: Business customer relations management.
    Magento: E-commerce shopping platform.
    Zimbra: E-mail and messaging server.


If your idea is truly worth something, even if you give it away for free, you will surely get compensated somehow. I don't know how.

If it's not, then no one will pay for it anyway.


Reference: (parts of the above text can be found here)
https://www.cio.com.au/article/528999/greed_good_9_open_source_secrets_making_money/
http://opensource.about.com/od/basics/tp/5-Ways-To-Make-Money-With-Open-Source-Software.htm

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November 05, 2014, 10:48:46 AM
 #70

If you care to propose something technical, feel free to start a new thread. Otherwise, you're in the wrong subforum. Cheers.
Exactly. We should just ignore the guy, we're feeding the troll. He'd be building something if he had anything worthwhile or the money to waste on patents.

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November 09, 2014, 05:46:21 PM
 #71

So I'm supposed to spend months of my life working for free?  Don't get me wrong I like crypto but I want to make some money.

Linux is open source.
Bitcoin is open source.
LibreOffice is a multiplatform open-source office suite.

I'm sure I can give you hundreds more examples. Each of those projects are "free to download and use" but the developers have happy lives and are being compensated somehow.

In the beginning, open source software looked like a saintly gift. Programmers would work hard, then give away the fruits of their labor to anyone who wanted it. Everyone would benefit from this act of pure charity.

Over time, however, companies realized they could make money and give away the software at the same time. They could do well by doing good. This wasn't a shock to some of the original open source advocates -- it was how some intended it to be. Richard Stallman, for one, always said that "free speech" was more important to him than "free beer." He embraced the idea that companies could charge anything they like -- as long as the user could fiddle with the code and distribute the result.

There is a common misconception that there is no money in open source software. It is true that open source code is free to download. But when it comes to making money you should think of this as an opportunity rather than a limitation.

    Businesses who make money in open source software include:

    MySQL (now owned by Oracle): Popular relational database.
    Red Hat: Major distributor of Linux for server and desktop use.
    WordPress: Widely used blogging platform.
    SugarCRM: Business customer relations management.
    Magento: E-commerce shopping platform.
    Zimbra: E-mail and messaging server.


If your idea is truly worth something, even if you give it away for free, you will surely get compensated somehow. I don't know how.

If it's not, then no one will pay for it anyway.

Appreciate it, the problem is that if I'm implementing this nto someone else's coin, they are making money and I'm not.. because I didn't get in on the ground floor. the only way that I can see to make real money with it seems to be to start my own coin.. But there are already too many as it is, in my opinion.

But maybe the name recognition alone is enough.

Thank for treating me with respect.. I was on the fence about whether or not to patent or pursue anything like that. NXT community was encouraging me not to actually. But I was thinking about it.. and you know the biggest reason I want to pursue it? This thread, being called a troll, being told I don't know anything, etc. But if my initial reception had been closer to Dabs, might've freely shared the idea.. honestly, I'd prefer to just talk openly about it and bounce it around with others.. But there is something to be said for trying to make some money of it.. and for not wanting to help out Bitcoin if type this is the reception I get.

Quote from: naplam link=topic=737836.msg9443998#msg9443998
We should just ignore the guy, we're feeding the troll. He'd be building something if he had anything worthwhile or the money to waste on patents.

It isn't exactly the kind of thing you do overnight.. But again, thank you for providing me more incentive to try to jump through the hoops and hassle and spend the money to try to patent.

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Dabs
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November 09, 2014, 06:15:13 PM
 #72

Try putting up a donation address or something. You might be surprised. (It won't come from me as I'm just as "poor" as you are.)

This is still early times for both BTC and NXT. My money's on BTC though. Smiley

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November 09, 2014, 08:41:23 PM
 #73

Currently we do see an issue with many transactions clogging the queue. Could we convert the wallets to broadcast anyone can pay transactions so that any wallet that sees the transactions could append to it? That would mean many people could accomplish all of their moving in single lump transactions. Perhaps just by letting anyone can pay transactions be rebroadcast and used if available is a better solution. Could that also be a great method of mitigating dust attacks on top of keeping the minimum send amount?
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