Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 15142. (Read 26712694 times)

When GPUs came out by 2011, ... Yes.

I have yet to see anyone explain how increasing the blocksize increases centralization. It seems to be some idea that just took hold and that everyone believes in, because they believe in it.

And it doesn't end. There will always be a need for improvements because there will always be competitors ready to take over if we stagnate. stagnation is death.

Lightning requires segwit. Which is to say, it will be as worthless as segwit is.

Well if you are unfortunate enough to be in a life threatening situation to actually be in the need of donor organs, you may not even have a choice. Atleast where I come from there are hundreds of people on waiting lists.


Oh it is coming. And when it comes we will light up the world.

It's not a sophism. The key word here is "liberty". Are you willing to compromise Bitcoin's decentralization by HARD-FORKING it to a bigger block size, so that you can buy your coffee at Starbucks and keep a permanent record of it in the blockchain? Bitcoin's enemies will still exist, and will still spam the network. Then what? Increase the block size even more, to accumulate more garbage? Another hard fork? Where does it end?

What's needed is a solution that is inherently scalable by design, such as the Lightning Network (or better ones that will surely come). It just doesn't make sense to do a hard fork that merely alleviates the problem temporarily while compromising decentralization, when a much more elegant solution does exist, has already been tested and is almost ready to implement. After LN is implemented, there may be a need for a moderate increase in block size. That's the "valid reason" you are asking. A reason that comes from scientific method, not from a thoughtless "bigger is better" mentality.

The blockchain simply cannot hold every little insignificant transaction that is ever made. It is a waste of resources and totally inefficient. Back in the days when transaction volume was low/moderate, this could be tolerated. Not anymore. Have you kept every little note you've ever made in every little piece of paper since you were born? Do you keep all the shopping lists you make every time you go to the supermarket in a log book for future reference? Should every blackboard on every classroom be made to permanently preserve everything that's written on it?

There has to be a garbage collection mechanism in Bitcoin. We've reached a point where the garbage has become too much for the network to keep storing. The solution is NOT to make more room for even more garbage, but to find a way to destroy them and keep them out of the network. That's what LN does. Thousands of "coffee-sized" transactions aggregated to a single transaction that only takes a small fraction of a block instead of flooding the network. No loss of significance of information, because such information is not significant. No hard fork needed! Want to do an important transaction on-chain? You can, just like today. And you will pay much less fees than today, because LN will free the network from all those millions of petty cash transactions that would otherwise flood it.

Sorry for the long post. It just infuriates me when people fail to see the moon and keep staring at the finger pointing to it...

Shocking. I am a sprightly 40something with plenty of lead left in my pencil. Apart from my lungs, heart, corneas, skin, bowels and a few other things many people would be ecstatic to have my body parts floating around inside them.

LN is coming...

https://twitter.com/CryptoChronicus/status/949520174641684480

Well. Shit.

I doubt anyone will want his organs. They want young peoples organs for transplants. Old peoples are worn out and won't last as long, and I doubt gentlemand is a spotty school kid.

LN as it is now depends on transaction malleability being fixed. That's why it was designed with segwit as a prerequisite. So yes, Ibian, you are correct as far as the real current Lightning Network goes.

That is not relevant in the least. It will make it better than it is now.

We need improvements. Before we hit $100+ fees would be nice.

There are teenagers in places other than the USA where those rules don’t apply.

So you... don't care how your family feels about it. Alright.

jajajaj Muy poético.
Gracias. Lo sé, sé que el futuro está en las segundas capas; de hecho me gustan. No es eso lo que discuto.

There is localbitcoins for that. Just putting that out there.

Are you big blockers still hanging around in here?

Don’t you have something better to do, like shilling Naga to noobs?

I am the very model of a Very Stable Genius.
I have a mighty button and no problems with my penius.
I have no time for television, golf, or social media
Since my brain is way way better than the best encyclopedia.

I like to tweet the lies of racist grievances historical
When Russian ties are mentioned I deny them categorical
I do not feel the sting of words because I am avenious
I am the very model of a Very Stable Genius!

“I’m very well acquainted, too, with matters self-devotional.”
(Good thing I beat a lady out, ‘cause ladies get emotional.)”
So said the guy in charge now of a land led by a weeny (us),
A madly modern model of a Very Stable Genius.

I am large and I am orange and my hair is all original.
I have no time for anyone who is vaguely aboriginal.
My enemies are guilty, all, of crimes most dark and heinous.
I am the very model of a Very Stable Genuous.

I have around me sycophants
And a modern major general
On the pot, at night I tweet
With logic that's ephemeral
I get to skate on crimes that
Others normally find hein-ious
I am the very model of a Very Stable Genious

pol/twitter

Why would it work only with segwit? I see no technical reason, but segwit adoption would certainly help LN to make opening/closing LN channels cheaper.

Torque, you're wrong. People need a coin. Having a decentralized asset, outside the influence of governments, of course it is important; but for ordinary people, it is much more important to have a decentralized currency.

I do not agree either that bitcoin was not used as a currency. The great success of bitcoin came from the hand of black markets. The world could see that it was a real, useful alternative, and outside the influence of governments. And if it were still cheap to make payments, I'm sure the commerce would continue to develop.
Until recently, we saw an organic development of the ecosystem, in which savers, traders, commerce, investors grew symbiotically. Today, commerce has no alternative, and simply bitcoin is being used as an asset for the speculation of the new rich.

I have already told my experience here many times, but Bitcoin for me and many other people, in a third world country, represents much more than an asset. And that is the vision that I always discuss, because here it is much more important to have decentralized money. The rich already have hundreds of assets with which to have fun, and it bothers me to think that bitcoin becomes one more of them.

Edit:My first bitcoins I bought them on the street, without a bank account.


For the other two comments of shit, I do not defend a dogma, but a vision. I like the side chains, but it seems to me that the blockchain must be accessible to anyone.

And how about you address the fact that bigger blocks and on-chain transactions alone will never allow Bitcoin to compete with PayPal, Visa, MC, or any other digital currency based system. Not even in the short term.

Dunno. Don't care. I'll be kinda dead. They can make Christmas decorations out of a bucket of my gonads for all I care.