1 MB limit per Bitcoin | Bitcointalksearch.org

odolvlobo

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Quote from: fred21 on May 01, 2016, 05:25:37 PM

I still have problem understanding how blocks build up.

At a time there is only one block generating. Then transactions are accumulating in that block. then when block reach 1 mb, block is attributed to one miner who gets the subsidies and the transaction fees related to that block. am I missing something?

Here is how it works: Each miner assembles some number of unconfirmed transactions into a block (up to 1 MB), and then tries to add that block to the block chain. While each miner is trying to add their block, more unconfirmed transactions come in and the miner may or may not include them in their block. Once a winning block is added, the losing miners throw out their unsuccessful attempt, plus the transactions that were in the winning block, and start over.

achow101

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Just writing some code

Quote from: fred21 on May 01, 2016, 05:25:37 PM

I still have problem understanding how blocks build up.

At a time there is only one block generating. Then transactions are accumulating in that block. then when block reach 1 mb, block is attributed to one miner who gets the subsidies and the transaction fees related to that block. am I missing something?

No, that is not how blocks are generated.

A miner creates a block, full of however many transactions they decide to include. This block, when sent to every other node on the network, must be checked for validity. Part of that check is the size. The block is currently not allowed to be larger than 1 Mb. If it is, a node running current consensus rules will reject the block.

fred21

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Activity: 154

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I still have problem understanding how blocks build up.

At a time there is only one block generating. Then transactions are accumulating in that block. then when block reach 1 mb, block is attributed to one miner who gets the subsidies and the transaction fees related to that block. am I missing something?

streazight

hero member

Activity: 910

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Quote from: Amph on April 22, 2016, 12:42:06 AM

Quote from: fred21 on April 21, 2016, 03:10:11 PM

Is there a risk that only large corporations will be able to process BTC blockchain meaning that they will be the only mining facilities and thus imposing their transaction fee price?

imposing high fee would also ruin merchants business, because they will pay more for their transaction, and since merchants have a great position, i would say the chances are slim

imposing high fee would not help the bitcoins users. We have to come up with some other methods

garmerys

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Quote from: Amph on April 22, 2016, 12:42:06 AM

Quote from: fred21 on April 21, 2016, 03:10:11 PM

Is there a risk that only large corporations will be able to process BTC blockchain meaning that they will be the only mining facilities and thus imposing their transaction fee price?

imposing high fee would also ruine merchants business, because they will pay more for their transaction, and since merchants have a great position, i would say the chances are slim

More the fees, less popular the currecny

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: fred21 on April 29, 2016, 01:39:16 PM

Quote from: odolvlobo on April 24, 2016, 03:47:34 PM

Quote from: fred21 on April 24, 2016, 01:14:06 PM

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

The separate 2 and 3 BTC amounts would be combined when sent normally, but it is possible to do it differently, as Shorena pointed out.

when odolvlobo says "The separate 2 and 3 BTC amounts would be combined when sent normally" does it mean that the 2 BTC and the 3 BTC sent together as 5 BTC will reach an other wallet as a single entity (5 BTC entity). right or not?

Yes, if you create a transaction which spends from those two outputs to a single output, that output can have a value of at most 5 BTC.

fred21

member

Activity: 154

Merit: 29

Quote from: odolvlobo on April 24, 2016, 03:47:34 PM

Quote from: fred21 on April 24, 2016, 01:14:06 PM

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

The separate 2 and 3 BTC amounts would be combined when sent normally, but it is possible to do it differently, as Shorena pointed out.

when odolvlobo says "The separate 2 and 3 BTC amounts would be combined when sent normally" does it mean that the 2 BTC and the 3 BTC sent together as 5 BTC will reach an other wallet as a single entity (5 BTC entity). right or not?

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: fred21 on April 24, 2016, 01:14:06 PM

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

The separate 2 and 3 BTC amounts would be combined when sent normally, but it is possible to do it differently, as Shorena pointed out.

shorena

copper member

Activity: 1498

Merit: 1528

No I dont escrow anymore.

Quote from: fred21 on April 24, 2016, 01:14:06 PM

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

No, if you create two different outputs they are two different outputs even if they go to the same address. Its a bit of an arsehole move, you could even send someone 2 BTC in 0.001 BTC outputs each. Its a bit like paying a large bill in 1 cent pieces. Most wallets will not do this though, youd have to create a TX by hand or somehow force non-default behaviour for the wallet.

fred21

member

Activity: 154

Merit: 29

what I don't get is that if you receive 2 BTC and then 3 BTC on 2 different transactions, They won't merge into 5 BTC but will remain as 2 separate value in your wallet. (as explained here : http://bitcoinfees.com/)
However, when I send 5 BTC and choose to send those 2 separate amounts (2BTC and 3 BTC) via a single transaction, THEN they will merge as a single amount of 5 BTC in the receiving wallet. is that right?

Amph

legendary

Activity: 3248

Merit: 1070

Quote from: fred21 on April 22, 2016, 12:57:04 PM

what is LN to solve blockchain capacity issue?

it has to do with instant confirmations https://www.reddit.com/r/Bitcoin/comments/37n0l6/eli5_the_lightning_network/, it does not come without risk like many think

luciann

sr. member

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Merit: 250

Just know eventually, the 1 MB model scale is going to be forced to be bumped up.

If bitcoin wants daily transactions to happen when there are growing pains, its forced to be more then 1mb.

fred21

member

Activity: 154

Merit: 29

what is LN to solve blockchain capacity issue?

Amph

legendary

Activity: 3248

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Quote from: fred21 on April 21, 2016, 03:10:11 PM

Is there a risk that only large corporations will be able to process BTC blockchain meaning that they will be the only mining facilities and thus imposing their transaction fee price?

imposing high fee would also ruin merchants business, because they will pay more for their transaction, and since merchants have a great position, i would say the chances are slim

fred21

member

Activity: 154

Merit: 29

Is there a risk that only large corporations will be able to process BTC blockchain meaning that they will be the only mining facilities and thus imposing their transaction fee price?

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: fred21 on April 21, 2016, 05:44:36 AM

Can BTC blockchain become one day (in decades) unbearable? meaning that even large infrastructure wouldn't be enough to store and process the BTC blockchain?

The expectation is that technology will outpace the size of the block chain in the long run. Right now, that is not the case.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

Quote from: fred21 on April 21, 2016, 05:44:36 AM

If there is no final solution:

Can BTC blockchain become one day (in decades) unbearable? meaning that even large infrastructure wouldn't be enough to store and process the BTC blockchain?

In theory, yes. I'm practice, probably not, as technology will become more powerful and be able support a larger blockchain. There will also be other solutions that people will think of to mitigate that problem.

fred21

member

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If there is no final solution:

Can BTC blockchain become one day (in decades) unbearable? meaning that even large infrastructure wouldn't be enough to store and process the BTC blockchain?

GreenMatrix

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Quote from: achow101 on April 18, 2016, 07:11:59 AM

Quote from: fred21 on April 18, 2016, 02:51:22 AM

Why "seg wit" or "hard fork upgrading" are not a final solution for capacity issue? what is the solution then?

Because they still are hard limits. If bitcoin continues to grow, that increased capacity will still run out. Segwit and the hard fork are still just temporary solutions.

There is no "final" solution.

The time will tell but I´m with you that the actual solutions will not work in the future!!

Amph

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Quote from: fred21 on April 18, 2016, 02:51:22 AM

Quote from: Amph on April 18, 2016, 12:39:37 AM

Quote from: fred21 on April 17, 2016, 12:44:03 PM

So, assuming that change in software, we can go beyond 2MB limit per block...

yes but it would require an hard fork, so you need then to upgrade no matter, what, instead we can go to 2mb without any hadr fork thanks to seg wit, but both are not a final solution for the capacity issue

Why "seg wit" or "hard fork upgrading" are not a final solution for capacity issue? what is the solution then?

some say that LN is the final solution, but i don't like the centralized apsect of it, also there are some issue with security for the LN

so no not even LN is the final solution, final solution is not discovered yet, and probably has to do with optimizing what we have already

Topic: 1 MB limit per Bitcoin (Read 1712 times)