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Topic: Greedy developers want to call off Bitcoin Mass adoption - long term down trend? - page 2. (Read 3106 times)

hero member
Activity: 686
Merit: 500
Shame on everything; regret nothing.
The force behind this patch is that zero-conf transactions have never, ever, ever, ever, ever been safe in any way, shape or form.  Now everyone has to accept reality.


Like I'm sayin'.  Bitcoin HAS performed VERY well as a store of wealth / monetary backbone network.  And we have LTC, which transfers pretty quickly.  OH NOES BUT WE CAN'T USE BOTH  ::: cry :::
kjj
legendary
Activity: 1302
Merit: 1026
The force behind this patch is that zero-conf transactions have never, ever, ever, ever, ever been safe in any way, shape or form.  Now everyone has to accept reality.

Despite some delusions to the contrary, bitcoin can not be made suitable for instant transactions.  Other services are necessary to handle the risks that are inherent in such transactions.
legendary
Activity: 1764
Merit: 1002
it is FUD.

i just read the thread.  what someone is proposing is to try and improve the system that currently can strand a tx from too little fees, ie, an unconfirmed tx.

none of the proposals discussed allow a double spend.  they talk about replacing a stranded tx with a higher fee to encourage propagation.
full member
Activity: 148
Merit: 100
just sold ALL BTC on this news I was really a-scared for a sec tyvm for the tip

Bears spreadin fud...
FUD? I read this on the Bitcoin developer mailing list and I thought I should share it with you guys.
legendary
Activity: 1666
Merit: 1057
Marketing manager - GO MP
Innovation - the nemesis of all pigish Bitcoin investors.
newbie
Activity: 15
Merit: 0
just sold ALL BTC on this news I was really a-scared for a sec tyvm for the tip

Bears spreadin fud...
full member
Activity: 148
Merit: 100
To all those that believe that in the near future you will be able to pay for your Latte at Starbucks using Bitcoins.
Up to now it would be safe for, say, Starbucks to accept a 0 confirmation transaction for your Latte. It is almost impossible and totally uneconomical to double spend those 0.05 BTC.
Some Bitcoin developers https://bitcointalksearch.org/topic/initial-replace-by-fee-implementation-is-now-available-on-testnet-199947 have developed a patch that not only makes transactions reversible but actually brings double spends to the masses. There goes the Starbuck dream. Everyone will be able to double spend or even cancel those 0.05 BTC transactions with a click of a button.
I don't know nothing about the probability that Gavin will include such a patch, but it would be devastating for Bitcoins future.
My take: the force behind this patch is the banking cartel and greedy Bitcoin developers fail to notice this trap. https://bitcointalksearch.org/topic/reminder-zero-conf-is-not-safe-1000usd-reward-posted-for-replace-by-fee-patch-179612
Once investors and merchants realize those negative implication for the future of Bitcoin it could lead to a long term down trend.
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