Wall Observer BTC/USD - Bitcoin price movement tracking & discussion - page 19688.

sAt0sHiFanClub

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Quote from: conspirosphere.tk on January 02, 2016, 10:26:16 AM

1. No, until he keeps paying fees high enough to let his tx included, given the traffic of the moment. Which means: at the rising of demand (blocks getting full), tx fees have to go up, because TANSTAAFL.

2. of course. For the very retarded I might use that.

3. and making them bigger they are incentivized to mine empty blocks.

4 on the market value has a price. and free shit is still shit. I don't care at all about Blockstream and whatever, until the hard core remains hard.

If there were ever a 4 Step Plan to eradicate bitcoin, then this would be it. Congratulations, bankster! Grin

Regarding point 3 - How does that incentive work, and why isnt it happening now?

conspirosphere.tk

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Quote from: sAt0sHiFanClub on January 02, 2016, 10:02:05 AM

Quote from: conspirosphere.tk on January 02, 2016, 09:03:01 AM

Quote from: jbreher on January 02, 2016, 01:44:34 AM

economic retardation

That's the pathology of (supposedly honest) blockchain bloaters. Refusing to see that increasing the blocksize without providing incentives to dissuade destructive behaviors (from spam attacks to gratuitous crap) is both pointless and suicidal.

Nonsense.

1. Are you going to define and provide cut off points for what constitutes "gratuitous crap"? Someone who is legitimately sending 1000 tx today at the average per kb fee, does this become spam if they fail to meet your new fee targets?

2. Please use the more accurate term "charge higher fees" instead of "dissuade". Because that is all you are doing.

3. Miners are currently incentivized to produce the smallest blocks possible with respect to the transaction volume.

4. Letting the Political Bureau of the Central Committee of the Core Devs of Blockstream decide the issue, rather than the market itself seems a strange thing to do in what is supposed to a decentralized anti-fragile ecosystem such as Bitcoin.

1. No, until he keeps paying fees high enough to let his tx included, given the traffic of the moment. Which means: at the rising of demand (blocks getting full), tx fees have to go up, because TANSTAAFL.

2. of course. For the very retarded I might use that.

3. and making them bigger they are incentivized to mine empty blocks.

4 on the market value has a price. and free shit is still shit. I don't care at all about Blockstream and whatever, until the hard core remains hard.

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sAt0sHiFanClub

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Warning: Confrmed Gavinista

Quote from: conspirosphere.tk on January 02, 2016, 09:03:01 AM

Quote from: jbreher on January 02, 2016, 01:44:34 AM

economic retardation

That's the pathology of (supposedly honest) blockchain bloaters. Refusing to see that increasing the blocksize without providing incentives to dissuade destructive behaviors (from spam attacks to gratuitous crap) is both pointless and suicidal.

Nonsense.

1. Are you going to define and provide cut off points for what constitutes "gratuitous crap"? Someone who is legitimately sending 1000 tx today at the average per kb fee, does this become spam if they fail to meet your new fee targets?

2. Please use the more accurate term "charge higher fees" instead of "dissuade". Because that is all you are doing.

3. Miners are currently incentivized to produce the smallest blocks possible with respect to the transaction volume.

4. Letting the Political Bureau of the Central Committee of the Core Devs of Blockstream decide the issue, rather than the market itself seems a strange thing to do in what is supposed to a decentralized anti-fragile ecosystem such as Bitcoin.

Hyperjacked

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It's all mathematics...!

Quote from: acquafredda on January 02, 2016, 06:17:53 AM

Quote from: knightlife999 on January 02, 2016, 05:12:46 AM

We'll get more volatility very soon. Just give the market some time to get past the holidays and back to work.

And let's not forget there has been a nasty dump on Christmas when everybody was celebrating. Stabilty and Bitcoin trading don't rhyme yet and probably never will. So yes, expect some turbulence soon

It usually happens when ppl least expect it...

Can't say I don't like the cheap price...

Cheers and enjoy the New Year!

conspirosphere.tk

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Quote from: jbreher on January 02, 2016, 01:44:34 AM

economic retardation

That's the pathology of (supposedly honest) blockchain bloaters. Refusing to see that increasing the blocksize without providing incentives to dissuade destructive behaviors (from spam attacks to gratuitous crap) is both pointless and suicidal.

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birr

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Quote from: AlexGR on January 02, 2016, 01:06:23 AM

I'd like to see some work on how to solve the attack vectors, how to make blockchain use more efficient, how to make the network propagate information faster - stuff like that which represent actual advances.

Segregated Witness.

keystroke

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advocate of a cryptographic attack on the globe

Quote from: oda.krell on January 02, 2016, 05:54:41 AM

Satoshi's original vision of sound money & free guns

I remember hearing he was for free drugs -- guns too?

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Quote from: acquafredda on January 02, 2016, 06:17:53 AM

Quote from: knightlife999 on January 02, 2016, 05:12:46 AM

We'll get more volatility very soon. Just give the market some time to get past the holidays and back to work.

And let's not forget there has been a nasty dump on Christmas when everybody was celebrating. Stabilty and Bitcoin trading don't rhyme yet and probably never will. So yes, expect some turbulence soon

The Chinese carried on trading at Christmas because it means nothing to them, but they get drunk at New Year so practically nobody was trading then. First the traders need time to get over their hangovers, then after the banks open in two days time volatility should get going again.

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Quote from: knightlife999 on January 02, 2016, 05:12:46 AM

We'll get more volatility very soon. Just give the market some time to get past the holidays and back to work.

And let's not forget there has been a nasty dump on Christmas when everybody was celebrating. Stabilty and Bitcoin trading don't rhyme yet and probably never will. So yes, expect some turbulence soon

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oda.krell

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Quote from: Richy_T on January 02, 2016, 12:38:49 AM

Quote

It can be phased in, like:

Code:

if (blocknumber > 115000)
maxblocksize = largerlimit

It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete.

Hehe, that one should be quoted a lot more around here. Like, daily.

I'm not even that fond of arguments from authority -- in the end, Satoshi is just a particularly smart human being, or group thereof, but fallible like everybody else.

The irony is of course that the Little Blockians are also the strongest proponents of 'protocol literalism', trying to preserve the purity of essence and sanctity of bodily fluids, err, I mean: the purity of Satoshi's original vision of sound money & free guns, as enshrined in the original version of the protocol.

Which only means that it must really suck for them that the master himself thought of max blocksize as a trivially easily changeable spam prevention measure, not some grand economic variable that must be protected by the spilling of blood of free Randian Übermenschen once in a while.

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