What if YOU could put 1 feature, change, whatever, into the Bitcoin protocol? - page 5.

ensurance982

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Trust me!

Quote from: reRaise on April 08, 2015, 12:47:43 PM

Quote from: arlekyn13 on April 08, 2015, 12:23:21 PM

Quote from: reRaise on April 08, 2015, 12:19:27 PM

Block reward down to every year.

You mean block reward halving?

Yes halving, that would cause some fireworks.

You wouldn't necessarily have to cut down the reward in half every year, you could just go and multiply it by 0.9 or something, which would smoothen things up a bit.

gentlemand

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Welt Am Draht

I'm perfectly happy with how it operates at the moment. Uncool but true. Many present gripes will be addressed by layers built on top.

If we're allowed to run with our pie in the sky ideas, it would involve wiping out the centralisation of mining at its core and having the mining algorithm serve a worthier purpose on the side.

QuestionAuthority

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You lead and I'll watch you walk away.

Every time a block is found I'd have the official Bitcoin client send a command to a connected 3d pastry printer to print a dozen donuts. Then I'd crowd fund sending a specially designed pastry printer with a client built in to every federal law enforcement office in the USA. Then the Feds would kill to make sure the Bitcoin network is safe. You would start seeing "I Support Bitcoin" bumper stickers on the back of black unmarked SUVs all over the country.

Amph

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Quote from: GenTarkin on April 08, 2015, 12:48:50 PM

One change that I would implement first and foremost. Is a way to prevent the 51% attack from ever being carried out.
Dont ask me how I would go about it, but its something that should be at the top of EVERYONE's list whos interested in the survivability of Bitcoin longterm. As long as the 51% attack exists .. Bitcoin never stands to become a worldwide dominant currency, because its really not 'trustless' long as 51% attack is possible.

there isn't already a solution comining to it(still experimental but...it is on the way)? it's called supernode, if i'm not mistaken they have the task to check if the last block is the most valid based on its transaction history, so the longest chain don't count anymore

Kazimir

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1. I would build in P2P mining by default, so we get rid of centralized mining pools and diminish any 51% risks.

2. I would increase the average block frequency to once per 90 seconds.

3. Rather than halving every 4 years, I would have set the reward to gradually increase during the first 5 years, and then gradually decrease (like 10% every year) indefinitely.

4. Rather than retargeting every 2016 blocks, I would gradually retarget after every block (based on a weighted average of the past week worth of blocks, putting more weight on recent blocks).

Jakesy

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Activity: 82

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Quote from: fryarminer on April 08, 2015, 12:02:22 PM

I'd request a memo line with transactions. Sure it might add bloat, but it is so practical with a public ledger.

That's what your wallet is for - it can privately label your transactions.

Lauda

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Terminated.

Quote from: fryarminer on April 08, 2015, 12:06:17 PM

Quote from: arlekyn13 on April 08, 2015, 12:05:03 PM

I'd implement a change to decrease the average timer between blocks to 1 min or so.

That would be extremely ~~useful~~ harm the security of Bitcoin.

FTFY.

Quote from: GenTarkin on April 08, 2015, 12:48:50 PM

One change that I would implement first and foremost. Is a way to prevent the 51% attack from ever being carried out.
Dont ask me how I would go about it, but its something that should be at the top of EVERYONE's list whos interested in the survivability of Bitcoin longterm. As long as the 51% attack exists .. Bitcoin never stands to become a worldwide dominant currency, because its really not 'trustless' long as 51% attack is possible.

I'm going to have to agree with this one. As for the first and foremost feature I'd be looking out to solve security issues like this one. If I had another wish I'd slow down the distribution of the coins for now.

herzmeister

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Quote from: GenTarkin on April 08, 2015, 12:48:50 PM

One change that I would implement first and foremost. Is a way to prevent the 51% attack from ever being carried out.
Dont ask me how I would go about it, but its something that should be at the top of EVERYONE's list whos interested in the survivability of Bitcoin longterm. As long as the 51% attack exists .. Bitcoin never stands to become a worldwide dominant currency, because its really not 'trustless' long as 51% attack is possible.

that's one example for a rainbow unicorn in the sky. Without a central authority, 51% is the largest consensus, and thus "the truth" almost by definition in *any* decentralized system.

LiteCoinGuy

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In Satoshi I Trust

everything is perfect for now. the rest of the system will adapt changes if necessary.

r3wt

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always the student, never the master.

I would replace the JSON RPC with some form of bi-directional long lived connection. websockets for instance could be perfect. websockets over tls offers a long lived, low latency ish connection between app and the bitcoin client. i think it would be awesome.

GenTarkin

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One change that I would implement first and foremost. Is a way to prevent the 51% attack from ever being carried out.
Dont ask me how I would go about it, but its something that should be at the top of EVERYONE's list whos interested in the survivability of Bitcoin longterm. As long as the 51% attack exists .. Bitcoin never stands to become a worldwide dominant currency, because its really not 'trustless' long as 51% attack is possible.

reRaise

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Quote from: arlekyn13 on April 08, 2015, 12:23:21 PM

Quote from: reRaise on April 08, 2015, 12:19:27 PM

Block reward down to every year.

You mean block reward halving?

Yes halving, that would cause some fireworks.

ensurance982

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Activity: 518

Merit: 500

Trust me!

Quote from: dothebeats on April 08, 2015, 12:26:20 PM

Quote from: ensurance982 on April 08, 2015, 07:59:57 AM

Imagine having a nice beer at a local bar and suddenly you realize that the guy next to you can't pay for his drink - he forgot his wallet. Since you are a nice person and made some money from investing in Bitcoin, you pay his tab.
It turns out, this guy is Bitcoin's very own core developer gmaxwell and because he is also such a nice guy, he offers you to implement one feature into the Bitcoin protocol - no questions asked.

What would you ask him to implement?

edit: sure, no one would be forced to use that fork. Just imagine that this is the only valid version of Bitcoin everyone using Bitcoin has to use form then on!

If I was given a chance to at least implement one feature in my mind, I would say it is the ability to recover all the lost wallets that haven't seen any activities for a long period of time. But definitely that is not an ideal feature to have because the potential of getting the balances of even the active users may be at risk, so I'd rather not wish for any of the features in my mind to be implemented in bitcoin.

Interesting... Who would you give the coins to? Also, what would be the cutoff rate? Time? Number of blocks mined in the meantime? Wouldn't this make the whole reward structure pretty unpredictable?

herzmeister

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the confirmation times "problem" is overrated, there are ways to work-around that issue in scenarios like the supermarket cash-out

randy8777

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not really a must, but if possible i would choose to have faster confirmations. but then again, it would also need to bring down block rewards.

dothebeats

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Merit: 1352

Cashback 15%

Quote from: ensurance982 on April 08, 2015, 07:59:57 AM

Imagine having a nice beer at a local bar and suddenly you realize that the guy next to you can't pay for his drink - he forgot his wallet. Since you are a nice person and made some money from investing in Bitcoin, you pay his tab.
It turns out, this guy is Bitcoin's very own core developer gmaxwell and because he is also such a nice guy, he offers you to implement one feature into the Bitcoin protocol - no questions asked.

What would you ask him to implement?

edit: sure, no one would be forced to use that fork. Just imagine that this is the only valid version of Bitcoin everyone using Bitcoin has to use form then on!

If I was given a chance to at least implement one feature in my mind, I would say it is the ability to recover all the lost wallets that haven't seen any activities for a long period of time. But definitely that is not an ideal feature to have because the potential of getting the balances of even the active users may be at risk, so I'd rather not wish for any of the features in my mind to be implemented in bitcoin.

arlekyn13

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Merit: 250

Quote from: reRaise on April 08, 2015, 12:19:27 PM

Block reward down to every year.

You mean block reward halving?

reRaise

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Block reward down to every year.

shorena

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Merit: 1528

No I dont escrow anymore.

Quote from: ensurance982 on April 08, 2015, 11:43:17 AM

Quote from: Buffer Overflow on April 08, 2015, 11:34:40 AM

This doesn't make any sense to me, as anybody can change the code and implement what they like, any time they like.

Sure, alright, what I was implying was that everyone would be "forced" to use that version of Bitcoin now. No way of using the old fork, everyone has to use your amended version.

Id request changes to ensure that such power never relies in the hands of a single person again.

fryarminer

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Activity: 686

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Quote from: arlekyn13 on April 08, 2015, 12:05:03 PM

I'd implement a change to decrease the average timer between blocks to 1 min or so.

That would be extremely useful.

Topic: What if YOU could put 1 feature, change, whatever, into the Bitcoin protocol? - page 5. (Read 3162 times)