Bitcoin mining is not efficient & other problems - page 2.

AgentofCoin

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Quote from: Lion87346 on January 06, 2017, 02:59:25 PM

Everyone knows that there is a problem with Bitcoin that needs to be fixed before there's mass adoption. What's one of the main problems? Miners. If you don't pay a fee or if your fee is too low they make you wait, sometimes for hours.

You are paying a miner's fee for priority for a FINAL SETTLEMENT.
When you pay with a credit card or debt, your tx is REVERSABLE up to 6 to 9 months.
Bitcoin allows for a near immediate SETTLEMENT in a P2P way.

Whether the future use is as a CURRENCY or ASSET, is currently debatable.

Quote from: Lion87346 on January 06, 2017, 02:59:25 PM

Another thing is the block size. I believe that replacing miners with another system will make it so Bitcoin can actually function as an efficient system, instead of miners ignoring your transaction, it will go through quickly and painlessly.

This statement doesn't really mean anything.

Quote from: Lion87346 on January 06, 2017, 02:59:25 PM

Another thing is the block size and fixing Bitcoin. The average person needs to understand what's going on behind the scenes, people who are involved in alt coins are voting against fixing Bitcoin. In other words: keeping Bitcoin broken and UNFIXABLE, due to corrupt voting practices is considered a viable business practice.

This statement doesn't really mean anything.
The average person doesn't care nor will ever understand what is going on behind the "scenes".
Do the average people know what is occurring behind the scenes in world financial exchanges?

Do you have any evidence or source material for altcoin people preventing Bitcoin from being "fixed"?

Quote from: Lion87346 on January 06, 2017, 02:59:25 PM

What's going on behind the scenes? Bribes. People are paying well known people within the Bitcoin community to keep Bitcoin broken, they bribe them to say "There's no problems with Bitcoin! No need for an upgrade!

". What I think should be done is the community should vote in people to work on Bitcoin software design to fix Bitcoin or it will remain broken for many years.

Do you have any evidence or source material for people bribing others to argue not to "upgrade"?

The community can not vote for people to work on Bitcoin because most work is purely voluntary.
Most of your understanding as to Bitcoin and how it works, or why it works, is incorrect.

Svelto

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Quote from: Lion87346 on January 06, 2017, 02:59:25 PM

Everyone knows that there is a problem with Bitcoin that needs to be fixed before there's mass adoption. What's one of the main problems? Miners. If you don't pay a fee or if your fee is too low they make you wait, sometimes for hours. Another thing is the block size. I believe that replacing miners with another system will make it so Bitcoin can actually function as an efficient system, instead of miners ignoring your transaction, it will go through quickly and painlessly.

Another thing is the block size and fixing Bitcoin. The average person needs to understand what's going on behind the scenes, people who are involved in alt coins are voting against fixing Bitcoin. In other words: keeping Bitcoin broken and UNFIXABLE, due to corrupt voting practices is considered a viable business practice.

What's going on behind the scenes? Bribes. People are paying well known people within the Bitcoin community to keep Bitcoin broken, they bribe them to say "There's no problems with Bitcoin! No need for an upgrade!

". What I think should be done is the community should vote in people to work on Bitcoin software design to fix Bitcoin or it will remain broken for many years.

Why you want use for free? Or why miners need to work for free? It's pretty quite obviously you pay a fees for a "plus" getting fast transaction!

For the rest, I folllow btc from a year and I don't know what is better about blocksize. But behind there are good players and I think a "solution" about blocksize are around the corner.

franky1

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Quote from: ?? on ??

I don't think it will be fixed soon because people who benefit from and created alt coins will vote/influence to keep Bitcon as primitive as possible.

yep Gmaxell (team leader of bitcoin core devs) loves his monero and his blockstream elements and his hyperledger sidechains.. more than he loves bitcoin.
yep Luke_jr (third in command bitcoin dev) loves his merge mind coins and is looking forward to merge mining side chains
yep Rusty Russel(5th in command bitcoin dev) loves his LN network that will be the swap mechanism between altcoins and bitcoin

franky1

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Quote from: franky1 on January 06, 2017, 03:39:05 PM

an ASIC miner has NO hard drive.
an ASIC miner does NOT store the blockchain
an ASIC miner is NOT affected by the blocksize in any way.
an ASIC miner just receives a hash.. (small string of text) and it processes that string of text using a puzzle to create another string of text

it does not matter how much data a block has, the hash an ASIC miner receives stays the same length.

do not blame the block size on miners!!

blame it on PEOPLE thinking that USERS NODES cannot cope. when in reality USER NODES can cope

Do you have any alternative ideas to replace miners? Or would this ruin your business?

mining is not the problem
the blocksize problem is due to developers refusing to even release code to allow the community to choose differing blocksize upgrade options, to get to a consensus for the network to upgrade naturally

p.s i got out of the mining game in 2013-2014

franky1

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an ASIC miner has NO hard drive.
an ASIC miner does NOT store the blockchain
an ASIC miner is NOT affected by the blocksize in any way.
an ASIC miner just receives a hash.. (small string of text) and it processes that string of text using a puzzle to create another string of text

it does not matter how much data a block has, the hash an ASIC miner receives stays the same length.

do not blame the block size on miners!!

blame it on PEOPLE thinking that USERS NODES cannot cope. when in reality USER NODES can cope
blame it on PEOPLE stupidly thinking the block bloat needs to be gigabytes a day and terrabytes a month.

blame it on PEOPLE who ignore the rational consensus since last year that is 2-4mb a block .. no 80mb-100gb(fake irrational doomsdays)
yes that is right for the last year the compromise has been 2-4mb.. so will people stop the irrational random numbers needed tomorrow..

cr1776

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Quote from: Lion87346 on January 06, 2017, 02:59:25 PM

Everyone knows that there is a problem with Bitcoin that needs to be fixed before there's mass adoption. What's one of the main problems? Miners. If you don't pay a fee or if your fee is too low they make you wait, sometimes for hours. Another thing is the block size. I believe that replacing miners with another system will make it so Bitcoin can actually function as an efficient system, instead of miners ignoring your transaction, it will go through quickly and painlessly.

Another thing is the block size and fixing Bitcoin. The average person needs to understand what's going on behind the scenes, people who are involved in alt coins are voting against fixing Bitcoin. In other words: keeping Bitcoin broken and UNFIXABLE, due to corrupt voting practices is considered a viable business practice.

What's going on behind the scenes? Bribes. People are paying well known people within the Bitcoin community to keep Bitcoin broken, they bribe them to say "There's no problems with Bitcoin! No need for an upgrade!

". What I think should be done is the community should vote in people to work on Bitcoin software design to fix Bitcoin or it will remain broken for many years.

First, this is a technical discussion area and I see nothing technical. It should be moved. [It has been now]
Second, your claim that "everyone knows that there is a problem..." is false.
Third, if you wish it to be changed, go ahead or find someone and pay them to change it (along with anyone else who agrees). This is open source software.
Fourth, miners aren't charities. They have costs involved and they charge the people using bitcoin to cover their costs. If one wishes to run a mining operation for free or at a lower cost, no one is stopping them and everyone would love it. Yet I don't see many (any?) of the people who want "free" transactions buying mining equipment, networking equipment etc and mining for free (or only for the block reward).

Lion87346

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Topic: Bitcoin mining is not efficient & other problems - page 2. (Read 1881 times)