Author

Topic: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19053. (Read 26609702 times)

legendary
Activity: 1176
Merit: 1000
I doubt anyone is suggesting small blocks forever, but at the moment there doesn't seem to be sufficient evidence of an emergency need to take some kind of drastic measures to increase the blocksize limit on an emergency basis..  and in that regard, the impression and/or creation of an emergency seems to be largely fabricated with a bunch of loud and whiny voices.

I think it was something like a year ago when Hearn predicted that urgent action must be taken or Bitcoin would ...crash. Yes, he said crash. The rationale was something like "ohh nodes will fill their mempools and nodes will start crashing and ohhhh, we need bigger blocks".

For a programmer it's very suspect why he didn't simply write a patch and say "here guys, this will fix nodes from crashing through a parameter that sets mempool size"... Why promote a hard fork for 8-20mb increases (which would be 20-50 times the legit activity of the network) instead of simply patching the software with a mempool limit, as 0.12 does?

The whole crisis / urgency scenario was bullshit, as was the "problem=>reaction=>solution" - in terms of ...proposed "solution".

For some reason your answer entirely misses the fact that blocks are filling up. A cheap transaction flooding attack brought the network to it's knees just last week.

You are that dog cartoon saying 'everything is fine' as the house burns down around you.
legendary
Activity: 1260
Merit: 1116
We're at 15GB. I think I heard the Ethereum blockchain is at 10GB already. And nobody actually uses it for anything yet. I say good luck to 'em.

Looks like it's been a while since you ran a full node.

60GB? Oh my! Lips sealed

ZOMG, the totality of all transactions until now is (barely) bigger than downloading GTAV... after 7 years!

http://www.mail-archive.com/[email protected]/msg09964.html



I've been a non-mining SPV node for a while now. I've come to terms with that.
legendary
Activity: 1708
Merit: 1049
I doubt anyone is suggesting small blocks forever, but at the moment there doesn't seem to be sufficient evidence of an emergency need to take some kind of drastic measures to increase the blocksize limit on an emergency basis..  and in that regard, the impression and/or creation of an emergency seems to be largely fabricated with a bunch of loud and whiny voices.

I think it was something like a year ago when Hearn predicted that urgent action must be taken or Bitcoin would ...crash. Yes, he said crash. The rationale was something like "ohh nodes will fill their mempools and nodes will start crashing and ohhhh, we need bigger blocks".

For a programmer it's very suspect why he didn't simply write a patch and say "here guys, this will fix nodes from crashing through a parameter that sets mempool size"... Why promote a hard fork for 8-20mb increases (which would be 20-50 times the legit activity of the network) instead of simply patching the software with a mempool limit, as 0.12 does?

The whole crisis / urgency scenario was bullshit, as was the "problem=>reaction=>solution" - in terms of ...proposed "solution".
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC

That's Bitcoins decentralization you're talking about. Have some respect!

Pah. If the pool guys were real men like charles bronson or hulk hogan we'd be in way better shape. Looks like you could scare the lunch money out of most of the present guys with a couple of harsh words.

Looks like someone already did.
legendary
Activity: 1288
Merit: 1087

That's Bitcoins decentralization you're talking about. Have some respect!

Pah. If the pool guys were real men like charles bronson or hulk hogan we'd be in way better shape. Looks like you could scare the lunch money out of most of the present guys with a couple of harsh words.
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC

In HK, Alex asked me to “respect” his time by agree the consensus asap. Also someone else told me he had bought long position just before the roundtable, if we did not agree, he would lose huge financially. If it was not these two, I would probably have escaped away that night."[/i]


What type of pussy makes super important decisions because of some other asshole's plans? These guys need more spine.

That's Bitcoins decentralization you're talking about. Have some respect!
legendary
Activity: 1288
Merit: 1087

In HK, Alex asked me to “respect” his time by agree the consensus asap. Also someone else told me he had bought long position just before the roundtable, if we did not agree, he would lose huge financially. If it was not these two, I would probably have escaped away that night."[/i]


What type of pussy makes super important decisions because of some other asshole's plans? These guys need more spine.
member
Activity: 117
Merit: 10
We're at 15GB. I think I heard the Ethereum blockchain is at 10GB already. And nobody actually uses it for anything yet. I say good luck to 'em.

Looks like it's been a while since you ran a full node.

60GB? Oh my! Lips sealed

ZOMG, the totality of all transactions until now is (barely) bigger than downloading GTAV... after 7 years!

http://www.mail-archive.com/[email protected]/msg09964.html

We're at 15GB. I think I heard the Ethereum blockchain is at 10GB already. And nobody actually uses it for anything yet. I say good luck to 'em.

The data are a bit rusty for btc (and the numbers for visa are also calculated wrong)... Right now we are closing to 70gb with btc.

You really think miners are complete idiots, then. Chomping at the bit to bloat blocks to infinity with free spam...

~Come with me, reader, into the mind of the economic central planner... where "capitalism" is one broken production quota away from abject devastation and horror.~

If miners didn't mine txs => "Ohhh those bad miners are not mining txs... we must hard fork to show them a lesson"
If miners do mine txs => "Ohhhh those bad miners are mining junk txs... we must give them a lesson"

Whatever they do, it can be used for political friction.

Miners deciding what size blocks to make and what price they charge for space in them is called Capitalism. What you advocate is something else... I'm sub-consciously transmitting that term to you now... please stand by.
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC

"[–]macbook-air Bitcoin Miner - F2Pool 100 points 10 days ago

In HK, Alex asked me to “respect” his time by agree the consensus asap. Also someone else told me he had bought long position just before the roundtable, if we did not agree, he would lose huge financially. If it was not these two, I would probably have escaped away that night."


https://www.reddit.com/r/btc/comments/48dzom/antpool_limiting_the_block_size_is_much_more/d0j7sqx
legendary
Activity: 1708
Merit: 1049
We're at 15GB. I think I heard the Ethereum blockchain is at 10GB already. And nobody actually uses it for anything yet. I say good luck to 'em.

The data are a bit rusty for btc (and the numbers for visa are also calculated wrong)... Right now we are closing to 70gb with btc.

You really think miners are complete idiots, then. Chomping at the bit to bloat blocks to infinity with free spam...

~Come with me, reader, into the mind of the economic central planner... where "capitalism" is one broken production quota away from abject devastation and horror.~

If miners didn't mine txs => "Ohhh those bad miners are not mining txs... we must hard fork to show them a lesson"
If miners do mine txs => "Ohhhh those bad miners are mining junk txs... we must give them a lesson"

Whatever they do, it can be used for political friction.
legendary
Activity: 2380
Merit: 1823
1CBuddyxy4FerT3hzMmi1Jz48ESzRw1ZzZ
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
We're at 15GB. I think I heard the Ethereum blockchain is at 10GB already. And nobody actually uses it for anything yet. I say good luck to 'em.

Looks like it's been a while since you ran a full node.

60GB? Oh my! Lips sealed

you can prune that down to 0.5GB
legendary
Activity: 1708
Merit: 1049
define "centralization"

I use these terms in a relative fashion, not absolute. This a p2p protocol which requires an extensive "p2p mesh" so to speak where a lot of people are running as peers, not clients dependent on some server. Decentralization = you want the network to be more on the p2p side rather than the client/server side. Centralization = the network tends to gravitate to a consolidated state where equal peers drop off and a few main central players are left standing.

Piling every proof-of-work quorum system in the world into one dataset doesn't scale.

...now Satoshi understood the problem, however BTC is a data-agnostic protocol. Right? It doesn't know whether you are creating your own system and using it for storage, whether you are transacting, spamming, etc etc...

So how can you prevent the scenario where BTC's blockchain becomes a distributed-storage system that "doesn't scale", or, worse yet, a spam dumpster?

The only two ways are limiting block size and raising tx price.

As for now: If the fees were helping the network to sustain itself economically, which will be the case in some years, then we'll probably need a lot of txs. However this is not the case right now, since subsidy is like ...50-100 times larger than fees and mining can still be profitable as it is, or even ...more profitable with 0-tx blocks that avoid orphaning.
member
Activity: 117
Merit: 10
legendary
Activity: 1260
Merit: 1116
We're at 15GB. I think I heard the Ethereum blockchain is at 10GB already. And nobody actually uses it for anything yet. I say good luck to 'em.

Looks like it's been a while since you ran a full node.

60GB? Oh my! Lips sealed


But Betamax is still around. Right??
legendary
Activity: 1456
Merit: 1000
We're at 15GB. I think I heard the Ethereum blockchain is at 10GB already. And nobody actually uses it for anything yet. I say good luck to 'em.

Looks like it's been a while since you ran a full node.



@65GB and ~5% rate of growth.
legendary
Activity: 1904
Merit: 1037
Trusted Bitcoiner
JayJuanGee you're a small blocker?  Shocked


I'm o.k. with the current plan to implement seg wit first and to reassess the blocksize limit situation after seg wit is in play for a while.

I doubt anyone is suggesting small blocks forever, but at the moment there doesn't seem to be sufficient evidence of an emergency need to take some kind of drastic measures to increase the blocksize limit on an emergency basis..  and in that regard, the impression and/or creation of an emergency seems to be largely fabricated with a bunch of loud and whiny voices.

Seems like we are going to see how seg wit plays out and then be able to reassess the blocksize limit situation at that time.


Further I believe that there is no meaningful proposal on the table to merely increase the blocksize limit without also attempting to affect bitcoin governance, which demonstrates to me that proposals that have recently been on the table to immediately increase the blocksize limit appear to be largely disingenuous.

you're right even small blockers aren't small blockers anymore.

i guess to be a "small blocker" these days means you place a lot of value on keeping the system "lightweight".

I value that to, but not enough to sacrifice user experience, give up micro TX,  etc...

i guess there is a spectrum of "blockers"  
legendary
Activity: 1554
Merit: 1014
Make Bitcoin glow with ENIAC
We're at 15GB. I think I heard the Ethereum blockchain is at 10GB already. And nobody actually uses it for anything yet. I say good luck to 'em.

Looks like it's been a while since you ran a full node.
legendary
Activity: 3920
Merit: 11299
Self-Custody is a right. Say no to"Non-custodial"
JayJuanGee you're a small blocker?  Shocked

That alone should settle the matter.

LOL

There is no such thing as spam if a transaction fee is paid -  just transactions you don't like. I thought bitcoin was about censorship resistance?


Yeah, but currently everything is getting on the blockchain whether there is a fee or not.  The ones without fees are just taking longer to confirm.
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