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Topic: Gold collapsing. Bitcoin UP. - page 72. (Read 2032247 times)

legendary
Activity: 1260
Merit: 1008
August 03, 2015, 04:24:01 PM
justus, all

it seems that awareness of the need to introduce economic incentives for services provided by full nodes are rising among devs community, see this thread on the btc dev mailing list:

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/009879.html

let's see how core devs will react to this idea.

How would this work if you issue (say) one txn per day on average?  I mean, wouldn't it take a month or even a year before the SPV client summed up enough use to make it worth committing the txn?  Are there risks to having a payment channel or LN connection open for these durations?

I agree that implementation of such payment system has to be carefully crafted. that said I'm not knowledgeable enough to evaluate which solution are better. (1)
 
I just want to say that even at current level of adoption there's enough SPV traffic to support a  market based on supply and demand.

e.g. 1 txn per day per SVP client, supposedly half a million of active SPV clients would generate:

500000÷(3600×24) ~ 5.7tx/s

clearly we are not there since 5 tx/s per second is above the actual network capacity, but it is not so far fetched to estimate at least 500K SPV clients once we gain a wider users base.

(1) fwiw I'm following LN mailing list and it seems to me that keeping a channel open even for long period of time is not impossible.
sr. member
Activity: 392
Merit: 250
August 03, 2015, 04:17:49 PM

Uh... you do realize this is just some jo dad with a stupid reddit user name, not the Winklevii.
legendary
Activity: 1764
Merit: 1002
August 03, 2015, 04:09:37 PM
hero member
Activity: 544
Merit: 500
August 03, 2015, 03:57:26 PM
priceless:

[–]WinkleviBitcoinTrust 6 points 23 hours ago

Sure I can imaging it. I just don't feel like supporting those block cock blocking devs.

 


could be time for a new Zhou Tong remix....... Chemical brothers

https://www.youtube.com/watch?v=MaU5qkQJ1e4
hero member
Activity: 644
Merit: 504
Bitcoin replaces central, not commercial, banks
August 03, 2015, 03:53:26 PM
uh oh, Blockstream pissing off some of the most important early adopters in the space:

https://www.reddit.com/r/Bitcoin/comments/3fhik9/mike_hearn_outlines_the_most_compelling_arguments/ctosiaz

i smell doom.

 Huh

is this a joke
legendary
Activity: 1764
Merit: 1002
August 03, 2015, 03:51:01 PM
priceless:

[–]WinkleviBitcoinTrust 6 points 23 hours ago

Sure I can imaging it. I just don't feel like supporting those block cock blocking devs.

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legendary
Activity: 1764
Merit: 1002
August 03, 2015, 03:48:22 PM
uh oh, Blockstream pissing off some of the most important early adopters in the space:

https://www.reddit.com/r/Bitcoin/comments/3fhik9/mike_hearn_outlines_the_most_compelling_arguments/ctosiaz

i smell doom.
legendary
Activity: 2576
Merit: 1087
August 03, 2015, 03:41:48 PM

I cut my exposure to equities by half today, AAPL was amongst those that got the chop!

So it was you!

BTW, your simplicity argument against complex, conceptual only layer 2 solutions was spot on.

That would be some serious whale action to be able to move a market that big Smiley or maybe it was butterfly wings...

I thought the simplicity argument was self-evident and shouldn't need anyone to explain it! Somebody gotta try and cut through the crapflood though. I've tried really hard to try and see the opposing POV but I come up short every time, and I think that's because I can't understand the philosophy behind making BTC some elitist tool when it seemed right from the outset that it was anything but.

If that makes me part of the "free-shit" army, then so be it. I'm not (yet) so morally bankrupt that I think that my well being can only come at the expense of others. That's what cripplecoin sounds like, thats why I don't want any part of it.
legendary
Activity: 1246
Merit: 1010
August 03, 2015, 03:27:45 PM
justus, all

it seems that awareness of the need to introduce economic incentives for services provided by full nodes are rising among devs community, see this thread on the btc dev mailing list:

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/009879.html

let's see how core devs will react to this idea.

How would this work if you issue (say) one txn per day on average?  I mean, wouldn't it take a month or even a year before the SPV client summed up enough use to make it worth committing the txn?  Are there risks to having a payment channel or LN connection open for these durations?
legendary
Activity: 1764
Merit: 1002
August 03, 2015, 03:16:56 PM
this can't be good:



I cut my exposure to equities by half today, AAPL was amongst those that got the chop!

So it was you!

BTW, your simplicity argument against complex, conceptual only layer 2 solutions was spot on.
legendary
Activity: 2576
Merit: 1087
August 03, 2015, 03:06:13 PM
this can't be good:



I cut my exposure to equities by half today, AAPL was amongst those that got the chop!
legendary
Activity: 1260
Merit: 1008
August 03, 2015, 02:49:48 PM
justus, all

it seems that awareness of the need to introduce economic incentives for services provided by full nodes are rising among devs community, see this thread on the btc dev mailing list:

http://lists.linuxfoundation.org/pipermail/bitcoin-dev/2015-August/009879.html

let's see how core devs will react to this idea.
legendary
Activity: 1400
Merit: 1013
August 03, 2015, 02:39:12 PM
Bitcoin won't get more expensive, fee-wise, if we bring on many, many more tx's onto the MAINchain that will help spread the costs and provide enough profit for mining to expand and grow.
It just goes to show how insane people are to suggest that Bitcoin transaction processing, with its very high fixed cost, should spread that fixed cost over a smaller number of transactions rather than a larger number of transactions.

I think any business plan that suggested such a strategy would spontaneously combust out of embarrassment before anyone could read it.
sr. member
Activity: 338
Merit: 250
August 03, 2015, 01:44:34 PM
You guys/girls hold gold/silver as well as BTC?

not me. 

only a few ounces of silver and a couple grams of gold

I'm holding a little of each as well.
legendary
Activity: 1764
Merit: 1002
August 03, 2015, 01:02:45 PM
You guys/girls hold gold/silver as well as BTC?

not me. 

only a few ounces of silver and a couple grams of gold

i still have my 2 small sleeves of Krugerands.  looks like miscreanity made the right decision not to take those off my hands 4 yrs ago.
legendary
Activity: 1176
Merit: 1000
August 03, 2015, 01:02:21 PM
It is getting mighty tempting to liquidate my remaining equities and rotate over into pm's and cash.
legendary
Activity: 1904
Merit: 1002
August 03, 2015, 12:58:09 PM
You guys/girls hold gold/silver as well as BTC?

not me. 

only a few ounces of silver and a couple grams of gold
legendary
Activity: 1764
Merit: 1002
August 03, 2015, 12:51:51 PM
oops, silver starting to crumble:

legendary
Activity: 1764
Merit: 1002
August 03, 2015, 12:50:56 PM
Soon, Barrick will be a penny stock if this trend persists.

and gold will be at $400
legendary
Activity: 3108
Merit: 1531
yes
August 03, 2015, 12:43:47 PM
Soon, Barrick will be a penny stock if this trend persists.
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