Gold collapsing. Bitcoin UP.

[awemany]

If anybody had any illusions about the Blockstream gang's view about Altcoins.. "It's fine"

"There's always a chance people will switch but it's fine. Bitcoin's security must not be compromised to prevent it."

For interesting definitions of "security" ...
[doublepost=1464794170][/doublepost]@Zangelbert Bingledack : Great post, interesting insights.

 

[cypherdoc]

Gold Collapsing. Bitcoin UP.

 

[tynwald]

I should've been clearer about "pissing people off": Soft forks may well piss people off, but they don't give people the chance to break away (fork away), so in the extreme consensus folks' minds they are better because safer. ("Better to have them run to altcoins and come running back later; that just lowers the price temporarily, instead of destroying Bitcoin OMG!!")

Soft fork vs hard fork is like having an opinion poll vs conducting an election. All of Core & Blockstream antics can be explained IMHO by their desire to avoid an 'election' at any cost. There is no genuine principle or belief behind their stance, just an acute need to maintain control.

 

[Bagatell]

@tynwald Indeed. This a political battle and the details (blocksize, hard or soft forks etc) are entirely subordinate to the one political rule - stay in power.

 

[Inca]

@tynwald, you are absolutely correct with that assertion. They know their vision of bitcoin as a settlement network is not what the ecosystem actually want and in the past luke-jr has admitted such on reddit.

I view that chart of alt coins vs bitcoin market cap as the most interesting metric right now. Everyone in the space should be holding a few hundred ETH at least 'just in case'.

That said I really hope bitcoin wakes up and continues to push higher before the Halving because I can see a huge dump coming after or right before the official date. It would be extremely bullish to push up past 700 and then dump down to 500 and bounce higher post halving, setting us up for Vinny Lingham style appreciation over the next two years.

 

[cypherdoc]

all major Western exchanges grinding higher with all Chinese exchanges stabilizing. look out.
[doublepost=1464796872][/doublepost]Eth: Doji indecision time:

[doublepost=1464797013][/doublepost]my double gold short making hay. everything moving together in the right directions:

 

[Mengerian]

@Peter R @Peter Tschipper and all,

First of all, again, great work on Xthins! I have been thinking of a Low Latency variant, at the cost of slightly higher total bandwidth, that might be more suited to the needs of miners. Not sure if this has been thought of before, or if this is the best place to post this, but here's the protocol I have in mind:

- Two nodes connect, and indicate they want to establish an Xtreme Low Latency connection.

- The nodes then exchange Bloom filters so that they can know what transaction each other have in their mempools.

- The nodes keep sending each other updated Bloom filters as they get new transactions in their mempool, say every 10 seconds (this frequency would have to be tuned).

- When one of the nodes finds a block, it immediately transmits the thin block + missing transactions based on the latest Bloom filter from its peer. No Inv/Get data round trip needed.

As an added step, the nodes could also share missing transactions based on the peer's Bloom filter in the block they are working on, before the block is found.

Does this make sense? Is there some problem I haven't thought of? My motivation is to think of a peer-to-peer setup that could compete with Matt Corallo's relay network.

Edit: I also see this as a stepping stone towards Weak Blocks, as it follows a similar communication flow between the nodes prior to actual transmission of blocks.

 

[Peter Tschipper]

@Mengerian you're on the right track with not being concerned or too concerned about bandwidth for the miner relay. A low latency solution is being working on right now by @theZerg called Xpedited and it would be more geared toward the miners. Xthins is more a p2p solution, fast but not the fastest and low bandwidth. Requirements are what matters here, it doesn't get talked about enough...what are the real requirements for p2p vs miners. The debate gets a bit confused IMO without understanding the difference between them.

 

[cypherdoc]

pretty good podcast on a variety of topics.

what struck me is the Uber model. what makes it successful is their emphasis on building the userbase (drivers and riders) as fast and as widely as possible across multiple geographic regions. this is what prevents any one gvt from shutting them down via local regulations. what's striking is if you conceptualize Uber central command as analogous to a single full node in Bitcoin (this is my conceptualization, not theirs). there's basically only one, representing an extreme form of centralization; yet the model works great b/c of all the user created demand across the world. not saying that's ideal for Bitcoin as Money but Uber does demonstrate the importance and resilience of gaining fast, wide user adoption even at the expense of extreme centralization of communication in the Uber model.

[doublepost=1464800091][/doublepost]you should be concerned as a pm advocate:

 

[cypherdoc]

great talk by Mary Meeker on Internet Trends. growth is slowing globally reflected in commodity prices and rising gvt debt levels:

http://venturebeat.com/2016/06/01/heres-mary-meekers-21st-annual-internet-trends-report/

 

[Peter R]

@Peter R - Excellent work on 2 of 5 - thanks due to you and your co-authors for this study.

My day gig is as a research technologist at one of the largest competing equipment manufacturers. I would like to speak of a subsystem metric that may give more insights into total system performance.

After being stalled at a plateau for one or more decades, data storage has gotten orders of magnitude faster over the last few years. We've gone from HDDs to storage bus SSDs to SSDs on the system local PCIe bus (instead of attached via FC, IP, SAS or SATA), and now we are looking at memory technologies orders of magnitude faster than NAND Flash. Up and coming storage devices will have IO latencies lower than processor context switch times.

With such fast devices, we are learning that measurements made upon the storage stack have less and less correlation with actual system-wide responsiveness. Accordingly, the industry is starting to measure IO latency in a different way - one which provides a ready metric to compare given storage solutions' real effects upon total system performance.

Specifically, we are learning that the latency outliers really come to dominate overall system performance. At least in our little area of computing performance.

In order to bring order to this understanding, we are now employing a new metric that is essentially '# of nines' on the X-axis (independent variable), and time on the Y axis (dependent variable). In this, '# of nines' is the proportion of IOs that complete within the time on that data point's Y-axis. So 90% of all IOs complete within some time, 99% of all IOs complete within some larger time, 99.9% complete within some time larger yet... This yields a monotonically nondecreasing data series. The increase tending to appear 'exponential' on such a graph - to some '# of nines' anyway.

Without access to your data, I don't know if there is value in this approach for your study. However, in the data storage field, this has allowed us a tool to get a handle on overall 'speed' of the behavior of very complex systems, from some subsystem measurements that we can actually instrument.

It might be interesting to run these figures for your data to see what new insights might be available.

I really like this idea. Wish I had known about it before I posted Part 2 of 5

Is this the way it's normally presented?

 

[theZerg]

@Mengerian

./bitcoin-cli help expedited
expedited block|tx "node IP addr" on|off

Request expedited forwarding of blocks and/or transactions from a node.
Expedited forwarding sends blocks or transactions to a node before the node requests them.

Arguments:
1. "block | tx" (string, required) choose block to send expedited blocks, tx to send expedited transactions
2. "node ip addr" (string, required) The node's IP address or IP and port (see getpeerinfo for nodes)
3. "on | off" (string, required) Turn expedited service on or off

Examples:
> bitcoin-cli expedited block "192.168.0.6:8333" on
> curl --user myusername --data-binary '{"jsonrpc": "1.0", "id":"curltest", "method": "expedited", "params": [block "192.168.0.6:8333" on] }' -H 'content-type: text/plain;' http://127.0.0.1:8332/


2016-06-01 17:00:33.178465 Requesting thinblock 0000000000000000020660b7b27e14aff1f2e3bf633a4478ca5a21e25c5e99d0 (414350) from peer 86.11.223.241:8333 (7)

2016-06-01 17:00:34.136568 Received new expedited thinblock 0000000000000000020660b7b27e14aff1f2e3bf633a4478ca5a21e25c5e99d0 from peer 161.202.44.42:51572 (123). Hop 0. Size 22022 bytes. (status 2,0x2)

2016-06-01 17:00:34.247375 Received new expedited thinblock 0000000000000000020660b7b27e14aff1f2e3bf633a4478ca5a21e25c5e99d0 from peer 169.55.99.89:8333 (21). Hop 1. Size 22022 bytes. (status 2,0x2)
2016-06-01 17:00:34.268135 (exp) thinblock waiting for: 0, unnecessary: 0, txs: 2696 full: 2
2

so ~ .1 seconds for 2 hops for this block of 2.7k transactions

Some thoughts:

Can heuristics be used to eliminate the bloom filter exchange? What heuristics work?

If a node does not have a transaction, can it get that transaction from close, low latency nodes rather than from the block source? This is especially important for GFC traversal.


Haven't checked in for awhile but:
https://github.com/gandrewstone/BitcoinUnlimited/tree/XpeditedBlocks

 

[Bagatell]

They're coming out of the closet.

https://www.reddit.com/r/btc/comments/4m2dx2/how_many_of_us_are_former_goldbugs_turned/

and then there's this!

As for the question what is behind this ongoing onslaught by authorities to "expose" the countless hacks of both commercial and Federal Reserve banks, including the all important SWIFT, we can only assume it is to streamling the implemntation of blockchain as the new architecture of global funds flow, an architecture that has been vocally espoused by both Goldman and JPMorgan.

http://www.zerohedge.com/news/2016-06-01/fed-was-hacked-more-50-times-between-2011-and-2015?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+zerohedge/feed+(zero+hedge+-+on+a+long+enough+timeline,+the+survival+rate+for+everyone+drops+to+zero)

 

[AdrianX]

OK OK I'm going to let it go - the fact I have 364 days to go before i can post to r/bitcoin.

I think I found the culprit it's an interaction I had with brg444 He deleted his posts but was probably irate I got so many up votes at his expense on r/bitcoin he figured foul play, this was sadly my last contribution before my ban.

 

[cypherdoc]

@AdrianX

looks like you're guilty of "brigading"

 

[freetrader]

The Science Brigade?

 

[AdrianX]

@cypherdoc I guess so , it turns out that a sub-reddit moderator has total authority to redefine rules and ban people for whatever reason they see fit.

 

[Norway]

These guys, lol!

 

[albin]

Quick speculative reddit question: if you press enter in the address bar to reload the page, they have no idea where you came from right? (it's as though you just typed the URL).

Is that equally sketchy to admins?

 

[freetrader]

Reddit is fast on its way to becoming the next obsolete discussion forum.

Not only did they not take care of their warrant canary properly and it died, but recently their CEO announced they'll be milking their user data for all they can, based on your "dark secrets" that they think they know.

https://www.reddit.com/r/videos/comments/4lmfmj/ceo_of_reddit_steve_huffman_about_advertising_on/

It looks to me like they were truly fucked by the surveillance state, and have decided to wear this proudly by fully converting to a sell-your-users-out model, like Facebook. Either that or their management is truly retarded.

I was always suspicious by the large amount of troll posts on the site which were clearly luring people into divulging some things about their private lives that should not be public information. People fall for this because it feels good to be telling someone else things you normally couldn't, if you believe you're anonymous.

So when it comes to admin protection/goodwill you receive on that site, you should lower your expectations to zero.