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01-19-2017 , 09:15 AM
Quote:
Originally Posted by aggo
Seriously, this is not smart.

Giving miners complete control of bitcoin is going to be a mistake in the long run.
Miners > core aka blockstream
Bitcoins - digital currency Quote
01-19-2017 , 01:02 PM
Quote:
Originally Posted by housenuts
Miners > core aka blockstream
Further to this, miners already control the blockchain.

Well, essentially the market controls the blockchain and decides which chain has value. If miners exert too much control or act contrary to how the market feels they should, the market will value an alternate chain higher.
Bitcoins - digital currency Quote
01-19-2017 , 01:32 PM
Quote:
Originally Posted by aggo
Seriously, this is not smart.

Giving miners complete control of bitcoin is going to be a mistake in the long run.
The whole essence of bitcoin was to have miners control it. It was decentralized in the manner that anybody could mine. Well it became centralized a long time ago as I had said. Whoever can make the fastest chips the cheapest owns bitcoin. You just can't change that.
Bitcoins - digital currency Quote
01-19-2017 , 01:54 PM
Quote:
Originally Posted by housenuts
Further to this, miners already control the blockchain.

Well, essentially the market controls the blockchain and decides which chain has value. If miners exert too much control or act contrary to how the market feels they should, the market will value an alternate chain higher.
This is not true. My node can reject your block still. If you give China everything they can control the entire blockchain. That's the threat of bu vs core
Bitcoins - digital currency Quote
01-19-2017 , 01:57 PM
Quote:
Originally Posted by housenuts
Miners > core aka blockstream
Miners have no sustainable long term solution. 2mb, 4mb is not a solution because it will eventually require another hf.

That is why a hf to 2mb is completely ******ed. It fixes nothing.

I would rather see if lightning works, segwit works, and then hf to 2mb to fix up the code base and merge all the sfs into hfs

A single 2mb hf is just sooo dumb and I would get out of bitcoin if it happened
Bitcoins - digital currency Quote
01-19-2017 , 02:45 PM
Quote:
Originally Posted by aggo
This is not true. My node can reject your block still. If you give China everything they can control the entire blockchain. That's the threat of bu vs core
And if they control it and people dont like it, they sell all their coins on that chain and use the core chain instead.
Bitcoins - digital currency Quote
01-19-2017 , 02:48 PM
Quote:
Originally Posted by aggo
Miners have no sustainable long term solution. 2mb, 4mb is not a solution because it will eventually require another hf.

That is why a hf to 2mb is completely ******ed. It fixes nothing.

I would rather see if lightning works, segwit works, and then hf to 2mb to fix up the code base and merge all the sfs into hfs

A single 2mb hf is just sooo dumb and I would get out of bitcoin if it happened
Multiple hf's is dumb. BU is not a single 2mb hf. I don't see what your issue with it is.

I dont even understand your post. You want to do lighting+segwit, then 2mb...then what??
Bitcoins - digital currency Quote
01-20-2017 , 04:28 AM
Increasing the max blocksize is not sustainable longterm, if decentralization is a priority. Initial blockchain download time will become way too large in a short timeframe if the blocksize gets larger.
Fixing malleability though (which is one of the benefits of segwit), would make off-chain scaling possible, which would also free up space on chain.
Bitcoins - digital currency Quote
01-20-2017 , 08:44 AM
I was able to sync the current ~90gb blockchain overnight. Even if it takes people a month to sync that 7 years of data I think that is fine.

Alternatively there could be solutions such as a shipped HD with 100gb+ of data provided to people if they don't want to download it all...even if the chain size were to double from where it is now, I don't see a difference between 100 and 200gb. If you can download 100, you can download 200.

Whereas if you can't download 200, then you wouldn't be able to download 100 in the first place.

To me, the transaction backlog is a greater issue than the minimal exclusion a larger chain may create.
Bitcoins - digital currency Quote
01-20-2017 , 03:26 PM
You and I both have pretty fast Internet connections, many people, in the countries that arguably needs bitcoin the most, don't.

Most of the blockchain was added in the last couple of years. It won't take long until it grows much larger. If we add a factor of 2 or 8 to the growth, it will outpace hardware development that much faster.

I mean, we all want the same thing here, it's just a matter of figuring out how to solve it best, in a sustainable manner. Am I missing something?
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01-20-2017 , 04:33 PM
Hard fork for BU would make me lose a lot of faith in bitcoins.
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01-20-2017 , 05:38 PM
Quote:
Originally Posted by Mat Cauthon
You and I both have pretty fast Internet connections, many people, in the countries that arguably needs bitcoin the most, don't.
Those with slow internet already can't get the 90gb chain is my point.
Bitcoins - digital currency Quote
01-20-2017 , 07:33 PM
Quote:
Originally Posted by Mat Cauthon
You and I both have pretty fast Internet connections, many people, in the countries that arguably needs bitcoin the most, don't.
They need bitcoin, but they don't need to be Bitcoin full nodes.
Bitcoins - digital currency Quote
01-21-2017 , 10:44 AM
Quote:
Originally Posted by heltok
They need bitcoin, but they don't need to be Bitcoin full nodes.
Exactly. I've been using bitcoin for 3 years and never ran a node until last week. There is no need for 99.99% of people to run a node. And the people that do run nodes will have sufficient internet speeds for 100gb-1tb and more chain sizes.

The only reason I'm running a node is to indicate support, not to increase my usability of the network.
Bitcoins - digital currency Quote
01-22-2017 , 06:36 AM
From reddit:
Quote:
Fuming with anger, Roger logged onto Tor and began spamming his contact. "Hey", he typed at an impossibly fast speed, "I need you to get someone's info for me right now. The guy's name is Theymos, and I'm sending you his IP address. Get me everything you can -- full name, address, favourite ice cream flavour, everything. This is urgent."
He sat back in his seat, his heart pounding heavily in his chest. Bitcoin was meant to be free, and was to be associated with a free market: why the hell was someone trying to regulate each and every aspect of it so heavily? Such censorship would be detrimental to the ecosystem, and he would not let it happen - not on his watch. Roger checked the price ticker on /r/bitcoinmarkets -- yep, the price had gone up another 5%. Just another day.
The sharp, ringing notification sound startled him. He quickly opened Tor, and sure enough, he had a response. Roger smiled. This information was gold -- time to post it on Reddit and completely ruin Theymos.
1 week later
The night was dark, starless and silent. Donned in black clothing and a ski mask, Roger thought back on the events of the past few days. He, the great MemoryDealers, had been banned on Reddit - how? All he had done was post the name and address of that wretch Theymos... That horrible, SegWit loving small-blocker. Now, it was time for him to pay. He'd already gotten Theymos's address, and now here he was, right under his apartment block. Roger grinned - it was a smile of pure evil; he hadn't smiled like this since BU support hit an all time high.
Roger unzipped his dark grey back with a satisfying zip and pulled out his beloved grappling hook gun. He aimed it at the window of the fifth floor - where Theymos would undoubtedly be sleeping. He pushed hard on the trigger, and with a loud click the hook went flying through the air right into Theymos's window, latching itself onto the window ledge with a satisfying clang. He tugged on the rope - yep, it was taut and would hold his weight. With a grunt, he grabbed onto the rope and began pulling himself upwards.
His feet softly thudded onto the floor of Theymos's carpeted bedroom. He could vaguely make out its shape in the darkness - it was a gigantic room with a beautiful five monitor setup and a TV opposite the large bed. Roger stepped closer to the bed where he saw a figure sleeping. The man in the bed's chest rose and fell softly with his breathing, and Roger's heartbeat began getting faster and faster. It was time.
He took off the hook attachment from the gun and put the magazine in. Six deadly bullets - but only one would be necessary. Roger went closer to the man, who's face was still shrouded in darkness. Closer and closer and closer, and soon Roger was inches away from his face. He could see him properly now, and Roger stopped dead in his tracks.
The man was gorgeous. He was, by far, the most beautiful man he had ever seen. Sharp, high cheekbones, gorgeous blonde hair, long eyelashes and pale skin. Roger felt a rush of blood go to his cheeks, and he dropped his gun with surprise with a loud thud. The man's eyes suddenly flew open: magnificent electric blue eyes. In astonishment, he rolled off the bed and fell right on top of Roger with a groan. Roger scrambled to get up, and the man pushed himself up with his muscular arms. "What the ****?" he screamed, "what the actual ****?" Hastily, he flicked on the light switch.
Before Roger stood the hottest man he had ever seen in his entire life. He was tall, and shirtless, with chiseled abs. Annoyance was evident on his handsome face. "Who the everloving **** are - oh!" he exclaimed, as realisation dawned upon him. "You're Roger Ver! What the hell are you doing here?"
Roger stood, dumbstruck. His mind was blank. He had no idea what to say, or do, but there was one thing he knew for sure: he was in love.
"Well?" Theymos said, "what the ****, Roger? What do you want?"
"Theymos, I... I wanted to talk to you about activating SegWit."
"What? I thought you hated safe transaction capacity increases."
"I've changed my mind. I'll switch all of my miners over to signal for SegWit activation."
"I'm so confused, what the ****?"
"But, I have one condition."
"Which is?"
"You have to kiss me, right here, right now."
"..."
A myriad of expressions ran across Theymos's face. Surprise, distress, confusion, anger. And then, he did the unexpected. He walked up to Roger, grabbed him by the waist and kissed him passionately. They kissed for a few seconds, and Theymos broke away. "Roger, I've always had a crush on you. I've always sort of wanted this to happen."
"Shh, don't ruin the moment." Roger placed a finger on Theymos's lips and began kissing him again. He slowly slid his hand into Theymos's pants, and then slipped off his boxers.
1 month later
Roger and Theymos are now married and are expecting a baby girl. The price of bitcoin is $4,500. SegWit has been activated and Core plans to increase the blocksize within the next 6 months.
Bitcoins - digital currency Quote
01-22-2017 , 04:49 PM
If many people can't have access to a trusted full node, that jeopardizes the decentralization, integrity and trustlessness of the network. If it just becomes an oligarchy of the richest miners and nodes, then bitcoin has lost its reason for being.
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01-22-2017 , 05:53 PM
Quote:
Originally Posted by Mat Cauthon
If many people can't have access to a trusted full node, that jeopardizes the decentralization, integrity and trustlessness of the network. If it just becomes an oligarchy of the richest miners and nodes, then bitcoin has lost its reason for being.
There are about 5,000 nodes right now. Do you consider them all trusted? Do you think they won't be able to handle upwards of a 500gb chain?

It's very easy for a large number of 'trusted' people to run a large node. Sure people in 3rd world countries won't be able to but they aren't able to now. Nothing changes.
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01-23-2017 , 01:47 PM
http://www.coindesk.com/chinas-big-t...no-fee-policy/

Does anyone know how they made money if they didn't charge fees? Kind of crazy they are going from 0 fees to .2% on both sides make it and take it. You'd think they come in with something much lower. Guess they figure once you put any sort of fee on it your going to lose 95% of the bots they have so they might as well make it a decent fee.
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01-23-2017 , 01:49 PM
they charge fees on withdrawals. higher trading volumes also gave lower withdrawal fees, which exacerbated the issue.
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01-23-2017 , 04:30 PM
Someone owns 42% of all open futures contracts in china
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01-24-2017 , 12:24 AM
Chinese exchanges all charging fees rn. All the volume is now real, and there's a decent spread between exchanges rn.
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01-24-2017 , 03:19 AM
Guys got a question, hopefully i didn't get screwed here somehow.

I sent 25k in btc to kraken through my trezor wallet to this address: [mod edit]

When I search this address it shows it being sent from Trezor -> Kraken however a few minutes later it shows the above address sending the $25k to a different address, one i'm not familiar with and didn't send to.

My Kraken account shows no balance and the address I copied and sent to doesn't show up as used but I've confirmed I copy/pasted it correctly.

Any idea what's going on here? Does kraken immediately send the funds somewhere once deposited or did I somehow get intercepted/hacked?

Last edited by jalexand42; 01-24-2017 at 01:05 PM.
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01-24-2017 , 03:37 AM
im not familiar with kraken's operating procedures or ui.

But if that's your deposit address on Kraken, that's your deposit address, and you should have your btc credited somewhere in your account. Somewhere being margin, trading, lending, etc. or whatever kraken uses.

there's always a possibility you suffered from some mitm attack, but your deposit went from multisig to multisig so I dont think that's the case.
Bitcoins - digital currency Quote
01-24-2017 , 03:43 AM
also i wouldnt worry about the address changing in your account. a lot of exchanges do that automatically once you use a deposit address.

again idk what kraken's standard operating procedure is there. but it is very common for the bitcoins to be immediately swept up and sent to another address once there are sufficient confirmations.
Bitcoins - digital currency Quote
01-24-2017 , 07:50 AM
[mod edit]

Just reconfirm on your kraken funding page that [mod edit] is the correct deposit address listed.

If so, you should not have a problem.

Last edited by jalexand42; 01-24-2017 at 01:06 PM.
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