Gold collapsing. Bitcoin UP.

[Peter R]

@solex
Exactly. They take it as axiomatic that increasing CONOP will decrease node count. But this is not true. For example, if CONOP increases because adoption increases, then node count could significantly increase (not that I'm very concerned about node count at the moment anyways--developer centralization is my present concern).

Personally, I think bigger blocks will lead to greater decentralization.

 

[albin]

For me to accept that artificially penalizing miners to redress a negative externality that they impose on nodes in order to collect more transactions (and thus fees) is a legit idea, I need to be convinced that increasing tx volume is monotonically an economic bad for node operators. For all we know, it could happen to be quite the opposite and increasing the tx capacity is a net free-rider problem for nodes.

The revealed preference of node operators running non-Core BIP 109 compatible clients that are ready to handle blocks currently larger than what miners are willing to produce suggests that for a non-trivial number of nodes that might actually be true over the range of the modest blocksize increases we're talking about.

 

[Zarathustra]

I hope Jihan cares enough about his personal safety and security.

The situation is grotesque. The so called 'community' - which in fact is a society of millions of individuals - hopes for one (1!) barely grown up guy who is sitting behind the great firewall in a totalitarian territory where no one can do business without collaboration with corrupt representatives of that totalitarian government.

Where is the invisible hand? A libertarian market project turned in record time into a totalitarian one. "Free market" is an oximoron. Market is about domination, corruption, power and force - more or less, but never free.

 

[Norway]

 

[Norway]

It's "cost of node-option", basically what gmax/friedenbach are using cost-based metrics to mean.

Do you mean cost of node operation?

 

[albin]

@Norway

That would be a good term too. The slide in the presentation (~2 min into the youtube video) says: "Cost of Node-Option" and the description is "total cost of, and reasons for, running a full node".

The "reasons for" is encouraging because at least this acknowledges that there is utility that makes you choose to run a node in the first place, but I've never seen a single person in the "Flexcap" space address that concept in any meaningful way.

I think it's an unfortunate term though because the plural ("ConOps") is already something that IEEE uses.

 

[Norway]

@albin
1. I get the feeling that he probably meant "Cost of node operation", but misspelled it when he made the slide. But I haven't even watched the video yet, which leads me to my next point:

2. It's on youtube now? Where? I couldn't watch it yesterday, because the conference software doesn't work on Chromebox/Chromebook!

EDIT: Never mind. I found it on reddit!

 

[freetrader]

lol, who is DBP?

I though he meant (and mistyped the initials) Daniel P. Barron:
https://twitter.com/danielpbarron
[doublepost=1466850404][/doublepost]

The impression I got was the fluffypony thought that "ideal" scaling would be to dynamically increase or decrease the size of blocks such that CONOP was held constant.

B.. but ... I want my CONOP to rise while the price of Bitcoin goes to the moon.
I'm sick and tired of running on my Raspberry Pi, I want to be able to afford a dedicated server!
Do I have to register for the Free Shit Army now?
[doublepost=1466850654][/doublepost]This Paul Sztorc article needs a thorough rebuttal on some points, I feel:
http://www.truthcoin.info/blog/measuring-decentralization/
Unfortunately I don't have the time to invest in that right now.

 

[Inca]

Inca can you eli5 both sides and why you voted?

The political elite in the UK are closely tied to Brussels and the unelected growing EU power structures. They have been gradually moving away from what the people agreed to - a common trading bloc - towards a supranational state with free movement of labour. An EU army was planned. EU laws supersede British law decided in the parliament. Those laws were not decided by an electable body that our people could vote out at an election. EU courts overturned British judges in decisions taken by our courts of law frequently. The open borders policy has led to immigration levels being 10x what the government predicted into the UK, tacitly approved by government because it has slowed the aging of our population and helped to keep demand for housing high (and by extension maintain our sky high housing prices which are now unaffordable to average youngsters). Worse our generous welfare state attracts people from all over Europe. Rising numbers of workers creates poor working conditions for the average bloke, giving rise to zero hour contracts and falling wages in real terms.

The single currency has decimated economies of large swathes of the EU (spain, portugal, greece etc) whilst other countries have grown rich (Germany).

I voted leave for the primary reason of retaking our national sovereignty back and allowing our parliament to set our laws or repeal them. This was a vote from the average joe to stop uncontrolled immigration and retake control of our labour force, whilst halting the slide towards an unaccountable unelected United States of Europe.

I doubt we have created a Domino effect resulting in the dissolution of the EU, but if another major country such as France, Spain or even little Greece leave the single currency then the project is dead. There will be great resistance to further referenda in EU states after this shock

EDIT: One further macroconomic point. This may mark the beginning of the end of globalisation and destruction of the Western economies in terms of hollowing out the middle class and destruction entirely of the working class. Protectionism is coming. War may follow.

 

[Bagatell]

What comes after Brexit?

Grexit. Departugal. Italeave. Fruckoff. Czechout. Oustria. Finish. Slovakout. Latervia. Byegium.

 

[Norway]

@Bagatell lol

 

[Ivanhoe]

According to a survey of a major news outlet in The Netherlands the majority of the Dutch people is for leaving the EU as well.

 

[satoshis_sockpuppet]

@Inca But don't you know that you all are going to be poor forever now? Like the people in Norway, Switzerland, Iceland..

I doubt we have created a Domino effect resulting in the dissolution of the EU

I'm sure you did. This is the beginning of the end for the EU as we know it. From everything I hear, there doesn't seem to be a single EU bureaucrat reflecting on the situation and why people refuse the EU. All I hear is: "Fuck the UK. We now have to make sure the people in the other countries know why we are so great."
Not "Hm. Maybe we should take a step back and rethink our position and listen to what critics had to say for the last 10 years."

If the EU was just a project for free markets, free travelling and cultural exchange, I would be it's greatest fan.
But I'm not in for "United states of Europe". Definitely not in the totally undemocratic fashion it is now but not in a democratic fashion neither.

 

[satoshis_sockpuppet]

Oh and I find it extremely funny how many "progressive, urban leftists" are now
a) pissed because "all the poor people" voted for Brexit,
b) pissed because a few banksters (who they wanted to oust a few years ago) are leaving London,
c) pissed because Britons possibly might not want to work for the low wages people from Poland got paid.

Funny how left views align so pretty fine with the views of the 1%.

 

[molecular]

That depends upon the number of them as a proportion of the total made. I did a quick search and found that it is a spelling error in the hologram. I am guessing that there will be a whole batch like that.

If I'm not mistaken, all so-called "series 1" 1 BTC coins have that error (series 1 = address is printed onto hologram sticker). There were 11,000 addresses generated for series 1 coins. All series 1 coins are "2011". Some 2011 coins are series 2 (these are actually quite rare, I think, and I don't own any, unfortunately). Series 2 have a window on the hologram sticker and the address is printed onto the paper sticker behind it. 18,000 addresses have been generated for series 2 coins.

Here's this info from Mike Caldwell (https://www.casascius.com/fulllist.txt)

61,560 addresses are listed.
The first 11,000 belong to series 1 coins with inkjetted holograms with the "CASACIUS" error.
The next 1,000 addresses belong to series 2 coins with windowed holograms.
The next 17,000 addresses also belong to series 2 coins, but also start with a prefix that
suggests how the address might be used.

I've seen prices in the market for series 1 coins ranging from BTC 2 (bitcointalk) to BTC 6 (ebay during 2013 hype)

I would personally pay more for a 2011 series 2 coin than for a series 1, but that's partly because I own one of the latter ones and none of the former.

 

[pekatete]

If the EU was just a project for free markets, free travelling and cultural exchange, I would be it's greatest fan.
But I'm not in for "United states of Europe". Definitely not in the totally undemocratic fashion it is now but not in a democratic fashion neither.

This is the most misunderstood aspect of the EU in the UK, probably borne out of its island nation mentality. Sure the EU set off as an economic area, but it also expressly along the way maintained the project was far bigger than that. At every stage in the EU's progress, there have been treaties signed to reshape the intended nature of the beast, to which the UK always (if at times begrudgingly) signed up for. I know the UK at every stage has continually maintained it was never interested in a political union, however it can not be denied that is exactly what was on the table (and never a cultural exchange of sorts!).

For me, the remain side never made a case for the status quo given the well documented effects of immigration from the EU unrelatedly coupled with effects of austerity. If you factor in democracy and sovereignty the leave side had it by a mile (and not just 2% like it ended up being).

Despite the above, I voted REMAIN, because I assigned my vote to my 20 something old children who were convinced remaining was what they wanted (as it is mostly their future that the decision will affect). So I sit in a good place, knowing the right side won.

 

[molecular]

wow. That's some powerful stuff. Exactly what I'm thinking, too... anybody have a transcription? I'm usually fond of doing something like this but not now... hmm... anyone know where I could submit this as a task and get it done for a little bitcoin?

 

[freetrader]

... and the award for most abstruse CSV use case ever goes to ...


I should explain why I think this use case is contrived.

1. All mainstream hardware wallets that I know of provide recovery procedures in case of failure/loss. Usually this is in the form of seed backups which you have to keep safe, but if you can manage that, these backups are equivalent to having another off-wallet key, since you can use the seed to restore your accounts in HD-compatible wallets pretty much immediately.

2. What extra security does another key somewhere else offer to your funds stored on a hardware wallet? I'd argue that it's zero or negative. It reduces the security in that someone who obtains this key can transfer your wallet-protected funds, bypassing all security mechanisms of the HW wallet. At best, your extra off-wallet key would be protected as well as a wallet seed backup, i.e. no security gain/loss.

 

[AdrianX]

This guy while he sounds a bit like an extremist has articulated the exact conclusion I came to understand when I started my quest to find what gave Bitcoin value. There is one thing that's in need of reform and if we can change just that one thing everything will be different.

 

[Zangelbert Bingledack]

@Norway

I believe CONOP deliberately stands for "cost of node-option" because of the idea that "it's not whether you do run a node, but whether you can." In other words, they are trying to avoid Jameson Lopp's proposal that we should set a minimum spec for node operation. They want to say, "It doesn't matter how many nodes there are, but whether YOU can run a node," because, "The only node that matters is your own" (Peter Todd).