Let's stop all transactions, right now!

meanig

hero member

Activity: 531

Merit: 501

Quote from: countryfree on February 12, 2014, 07:41:26 PM

Quote from: yogi on February 12, 2014, 07:33:48 PM

Quote from: meanig on February 12, 2014, 07:30:17 PM

Confirmed txid can be relied on for accounting purposes.

How do you get from an unconfirmed transaction id to a confirmed one?

You don't, you just freeze till the first transaction is confirmed.
Banks work like this. If you want to cash a check, they will be check it first.

Yeah that's what I meant. The txid of a transaction in a block can be relied on for accounting purposes. Any txid not in a block is subject to change.

roslinpl

legendary

Activity: 2212

Merit: 1199

Quote from: DeathAndTaxes on February 12, 2014, 07:39:12 PM

Quote from: countryfree on February 12, 2014, 07:23:37 PM

I understand it can't be with BTC where there isn't a regulator, but we shall not fear, nor be surprised if at times, there are things we do not understand, or that things are causing reactions we hadn't expected, so much that the safest thing to do may be to stop everyhting.

I called Satoshi. He turned the master bitcoin key to off so blockchain should be stopping shortly. Thanks for the heads up that was a close one.

in 10..9..8..7...

Oh look

blockchain has stopped Cheesy

When I was sitting in toilet I though - if (just a sci-fi comedy scenario) all transactions all over the world would stop -
Poland will use Bitcoin anyway Tongue

till the world end Tongue

As long as it is p2p xD they cannot stop us!
http://www.youtube.com/watch?v=0HL-N9oOjcs

countryfree

legendary

Activity: 3052

Merit: 1047

Your country may be your worst enemy

Quote from: yogi on February 12, 2014, 07:33:48 PM

Quote from: meanig on February 12, 2014, 07:30:17 PM

Confirmed txid can be relied on for accounting purposes.

How do you get from an unconfirmed transaction id to a confirmed one?

You don't, you just freeze till the first transaction is confirmed.
Banks work like this. If you want to cash a check, they will be check it first.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: countryfree on February 12, 2014, 07:23:37 PM

I understand it can't be with BTC where there isn't a regulator, but we shall not fear, nor be surprised if at times, there are things we do not understand, or that things are causing reactions we hadn't expected, so much that the safest thing to do may be to stop everyhting.

I called Satoshi. He turned the master bitcoin key to off so blockchain should be stopping shortly. Thanks for the heads up that was a close one.

yogi

legendary

Activity: 947

Merit: 1042

Hamster ate my bitcoin

Quote from: meanig on February 12, 2014, 07:30:17 PM

Confirmed txid can be relied on for accounting purposes.

How do you get from an unconfirmed transaction id to a confirmed one?

jongameson

member

Activity: 84

Merit: 10

lets all have gay orgy (10 girls, 1 guy)

meanig

hero member

Activity: 531

Merit: 501

Quote from: HeliKopterBen on February 11, 2014, 07:10:34 PM

Quote from: DeathAndTaxes on February 11, 2014, 06:58:55 PM

Service providers which keep records on outbound txs would still need to ensure they don't rely on tx ids.

At some point this will have to be fixed. The utility of bitcoin is reduced if the broadcast txid cannot be relied on for accounting purposes.

Confirmed txid can be relied on for accounting purposes.

phazon307

full member

Activity: 140

Merit: 100

Don't fear Crypto Exchanges go with honest well kn

Yea it seems the price is going down but wait tell it gets down to 500 and the flood of buyers swoop in and buy em all up, then the price is going to go up like crazy. I am waiting for it to go down some to buy some.

countryfree

legendary

Activity: 3052

Merit: 1047

Your country may be your worst enemy

You guys should have wondered where I got the idea. It's easy, I looked at the stock market. NASDAQ or NYSE and I believe in every market, there are suspensions, trading halts or trading curbs, and everything just stops for a while. This is common, it happens often.

I understand it can't be with BTC where there isn't a regulator, but we shall not fear, nor be surprised if at times, there are things we do not understand, or that things are causing reactions we hadn't expected, so much that the safest thing to do may be to stop everyhting.

BTCisthefuture

sr. member

Activity: 364

Merit: 250

Quote from: yogi on February 11, 2014, 06:53:52 PM

Quote from: countryfree on February 11, 2014, 06:41:52 PM

People are always overreacting.

You're right, let's stop all transactions, right now!

LOL

cc8829

newbie

Activity: 3

Merit: 0

watching & thinking

dissident

sr. member

Activity: 280

Merit: 250

hoarding to try to make the price go up so you can 'profit' just goes against everything bitcoin is supposed to be about... it's not supposed to be about greedy profit mongering, but it is of course. Other people will hold so it goes up, and then you will sell is that right?

HeliKopterBen

hero member

Activity: 622

Merit: 500

Quote from: DeathAndTaxes on February 11, 2014, 06:58:55 PM

Service providers which keep records on outbound txs would still need to ensure they don't rely on tx ids.

At some point this will have to be fixed. The utility of bitcoin is reduced if the broadcast txid cannot be relied on for accounting purposes.

roslinpl

legendary

Activity: 2212

Merit: 1199

Quote from: yogi on February 11, 2014, 06:53:52 PM

Quote from: countryfree on February 11, 2014, 06:41:52 PM

People are always overreacting.

You're right, let's stop all transactions, right now!

Rofl

I must say it was funny.

Stop all transacions and do not overreact at a same time..

Meuh6879

legendary

Activity: 1512

Merit: 1011

Quote from: jongameson on February 11, 2014, 07:01:09 PM

It's fine with me if it takes 2 months.

In 2 days, we have the fall of MT.gox ... in 2 minutes, we have this :

http://media.timeout.com/blogimages/wp-content/uploads/2012/12/deep-impact-gif.gif

2 months is too long for a network that it can react with 7 transactions per second. Grin

jongameson

member

Activity: 84

Merit: 10

Quote from: countryfree on February 11, 2014, 06:41:52 PM

I may be fortunate, my living doesn't depend on BTC. I don't use BTC everyday, and I don't need the BTC I keep on my wallet, on my home computer (not the one I'm using now). BTC is going through hard times right now, I will not move, and I suggest everyone in the same situation as I am to stay put.

It's panic that's causing today's price fall. People are always overreacting.

I'll probably wait till the malleability issue is resolved. It's fine with me if it takes 2 months.

what what what

i just bought some weed with bitcoins

if we get rid of them then no more weed Cry

Gamer67

sr. member

Activity: 294

Merit: 250

тσ ¢σιи σя иσт тσ ¢σιи?

Quote from: countryfree on February 11, 2014, 06:41:52 PM

I may be fortunate, my living doesn't depend on BTC. I don't use BTC everyday, and I don't need the BTC I keep on my wallet, on my home computer (not the one I'm using now). BTC is going through hard times right now, I will not move, and I suggest everyone in the same situation as I am to stay put.

It's panic that's causing today's price fall. People are always overreacting.

I'll probably wait till the malleability issue is resolved. It's fine with me if it takes 2 months.

Pot meet Kettle.

Seriously OP.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Quote from: Holliday on February 11, 2014, 06:54:33 PM

There is no reason to stop transactions, they work fine if you are using properly coded clients.

A lot of people seem to overreact to this malleability issue without fully understanding the problem.

I personally don't care if my "transaction ID" is changed because it doesn't affect the actual outcome of the transaction.

It does if your client uses unconfirmed change in a new outbound tx (which all of them do BTW). The changing of the tx id will cause the child transaction to become invalid.

A temporary fix would be to
a) give users the ability to require change to have 1 confirmation before using it in a new tx.
b) flag duplicates txs and hide them so the user only sees one (and the balance only reflects one copy).

It isn't perfect but it would make the mutability a non-issue for ends users. Service providers which keep records on outbound txs would still need to ensure they don't rely on tx ids.

Meuh6879

legendary

Activity: 1512

Merit: 1011

that the difference between a capitain in hurrican ... and a tourist on a yacht in sunshine.
you are the tourist.

don't talk to me.

Holliday

legendary

Activity: 1120

Merit: 1010

There is no reason to stop transactions, they work fine if you are using properly coded clients.

A lot of people seem to overreact to this malleability issue without fully understanding the problem.

I personally don't care if my "transaction ID" is changed because it doesn't affect the actual outcome of the transaction.

Topic: Let's stop all transactions, right now! (Read 1860 times)