Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 15300. (Read 26717130 times)

The banks in the west are closed and bitcoin's still pumping. What happens when they open again and those wires start reaching exchanges?

I don’t need to trust anyone. It’s a pain if miners collude and 51% attack me, but with a full node I just fail to get new blocks and together with others (probably everyone else) we are forced to change to a new set of miners who behave and use the real Bitcoin rules.

But this is another discussion,  and is irelevant to my point, which I will restate.... if I can’t run a full node I need to trust miners.
Don’t shift the argument, address the real issue!

The only way I can see LN working is with a few large hubs that users "open accounts with" and in a way that those users doesn't actually control private keys.  LN = modernized banking.  

Ja toch wel en graag gedaan .... beetje spanning soms moet al eens kunnen toch....

LN feels like ripple

Does the blockchain still have a purpose with LN on ? Educate me !

Right on cue.

Bitcoin has never been trustless.  If you're using Bitcoin, you already trust that no group of colluding attackers controls more hash power than honest nodes.  If the hash power majority is colluding to defraud users, bitcoin is not secure.  This is simply a fact.  There is nothing an army of raspberry-pi nodes can do to change this fact.  Fortunately, a hash-power-majority attacker "ought to find it more profitable to play by the rules, such rules that favour him with more new coins than everyone else combined, than to undermine the system and the validity of his own wealth."
 

A clickable picture? This changes everything!

During this discussion time...

https://bitcoinist.com/bitcoin-price-leaves-earth-16k/

But I want to run a full node, and with huge blocks I don't even have a choice.
(SPV is a middle ground but not sufficient)
You are forcing me to trust someone.
In fact you are forcing me to trust the miners who are driven by incentives that do not align with my own.
In the future they may change the rules and I wouldn't even know, and if I did know, there would be little I could do to about it.

This myth that non-mining nodes don't matter is the most dangerous the big blockers are forced to peddle, simply because  it drops out of the big block argument as a necessity.
The ability to run a full validating node is not optional, it is a requirement, and any fork that prevents this functionality fails the community.

We must not compromise the security of Bitcoin to help it scale.

Dankjewel voor alle tijd en moeite micgoossens,
Betaal je de prijs uit je eigen zak?

Wow:  https://bitcoinist.com/lightning-network-mainnet-beta-soon/

Agreed. Sooooo bored of block size debates. zzzzzzzzz

That's the way I see it too - and the reason why sometimes I do bother to write a detailed, articulated, civil reply. But still the exact mechanism of picking the wrong horse escapes me. It must be pretty dark in that barn.

That's what the one slightly over weight middle aged stripper with a c section scar is for.  There is always one...

Catching up on posts in this thread takes much longer with the block size debates on going...  Maybe we should all just communicate in memes? Much easier to skim through to the most recent post that way.  

Breaking 24777$ prediction game      FINAL LIST       

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MERRY XMAS TO Y'ALL     AND GOOD LUCK

Some valid points and concerns but boy are they glued to the wrong horse.