Save the Chain! Whale puts $500,000 Bounty up for grabs to miners - page 2.

NeuroticFish

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Quote from: BurtW on May 04, 2017, 04:42:53 AM

My understanding of this is that the miners could reject both BU and segwit and still get the reward, right?

From what I've read on reddit

Quote

can only be included on the blockchain if the maximum block size limit is raised,

so it sounds to me like a bait to force BU hardfork.

I think that the transaction has a better chance to get discarded than accepted....

BurtW

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My understanding of this is that the miners could reject both BU and segwit and still get the reward, right?

They could rally together and propose a new version of the software with just the one single change of raising the block size to say 2MB, rally nodes to accept just that one change, then mine the reward.

It is a hard fork, correct?

Kakmakr

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Ok, It looks like the mindset is as follows : If we cannot convince them that BU is the best scaling solution, we might be able to buy their support. So let's throw more money at the problem and see if they will fall for that. This is turning into a 3 ring circus show. ^lol^

Take a guess who is the clowns. ^hmmmmm^

jonald_fyookball

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Quote from: pooya87 on May 03, 2017, 11:54:55 PM

just thinking out load:
transaction fees used to be 0.3-0.5BTC at best before the severe spam attack on network started. price was about $600-$700 (if i am generous with my calculations) meaning ~$300 per block was the bonus reward.

blocks are 1 MB, spam attack is at the peak, total fees are about 1.5BTC per block and price is $1500. miners are making $2250 bonus per block.

$500,000 is 333.33BTC = only 222 blocks fee reward (bonus).

144 blocks are being mined each day!

well a full day worth of blocks is a lot. to a 10% mining pool thts 10 days...and a big % of net profit... not to mention, we can grow the honeypot

pooya87

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just thinking out load:
transaction fees used to be 0.3-0.5BTC at best before the severe spam attack on network started. price was about $600-$700 (if i am generous with my calculations) meaning ~$300 per block was the bonus reward.

blocks are 1 MB, spam attack is at the peak, total fees are about 1.5BTC per block and price is $1500. miners are making $2250 bonus per block.

$500,000 is 333.33BTC = only 222 blocks fee reward (bonus).

144 blocks are being mined each day!

jonald_fyookball

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Quote from: hardtime on May 03, 2017, 11:31:36 PM

Quote from: bitkilo on May 03, 2017, 07:56:27 PM

Thanks for sharing the link. Would definitely be a good payday for the miner that scores it.

Well the only way for someone to be able to score this payday is going to be if the maximum block size limit is increased, so it's not going to be a pay day in the future and I highly doubt it'll ever be a good payday. This is simply showing support and throwing money at miners to come to the side of BTU instead of the real solution that'll work, which we know is Segwit. I wouldnt expect anything less than this with Ver and his cronies who are just paying a disgusting amount of money to try to take over the Bitcoin.

Fuck you ver.

The real solution that'll work is simply increasing the blocks to 2mb for the time being.

Who has more of Bitcoin's best interest -- guys with lots of Bitcoin (Ver) or guys with lots of fiat (Blockstream).

hardtime

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Quote from: bitkilo on May 03, 2017, 07:56:27 PM

Thanks for sharing the link. Would definitely be a good payday for the miner that scores it.

Well the only way for someone to be able to score this payday is going to be if the maximum block size limit is increased, so it's not going to be a pay day in the future and I highly doubt it'll ever be a good payday. This is simply showing support and throwing money at miners to come to the side of BTU instead of the real solution that'll work, which we know is Segwit. I wouldnt expect anything less than this with Ver and his cronies who are just paying a disgusting amount of money to try to take over the Bitcoin.

Fuck you ver.

jonald_fyookball

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Quote from: panju1 on May 03, 2017, 08:38:05 PM

Quote from: jonald_fyookball on May 03, 2017, 07:35:50 PM

https://www.reddit.com/r/btc/comments/69318u/save_the_chain_enclosed_1_mb_transaction_with_273/

Half a million dollars to increase the block size? But this doesn't really help. If it is just one miner who customizes his software and mines the block, it will be rejected by all the other nodes. So he will get just an orphan block and no bounty for all his efforts.

if the miners can organize to spend half the bounty to the next miner etc... it could cause miners to activate BU so they can get it.

panju1

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Quote from: jonald_fyookball on May 03, 2017, 07:35:50 PM

https://www.reddit.com/r/btc/comments/69318u/save_the_chain_enclosed_1_mb_transaction_with_273/

Half a million dollars to increase the block size? But this doesn't really help. If it is just one miner who customizes his software and mines the block, it will be rejected by all the other nodes. So he will get just an orphan block and no bounty for all his efforts.

jbreher

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The entire thread is golden.

Unfortunately, there is as of yet no tutorial on how to to take one of the anyone-can-spend outputs from the transaction, and bundle that with more bitcoin of your own. This would create a child transaction that would add to the miner incentive.

I'm gathering one will be along any moment now.

mewn.

bitkilo

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Thanks for sharing the link. Would definitely be a good payday for the miner that scores it.

jonald_fyookball

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https://www.reddit.com/r/btc/comments/69318u/save_the_chain_enclosed_1_mb_transaction_with_273/

Topic: Save the Chain! Whale puts $500,000 Bounty up for grabs to miners - page 2. (Read 1957 times)