Gold collapsing. Bitcoin UP.

[cliff]

Fun fact: it has been 43 weeks and 5 days.


http://www.coindesk.com/scaling-bitcoin-day-1-constructive-debate-shines/

https://scalingbitcoin.org/montreal2015/#workshop

 

[cypherdoc]

yep, alot of large block leaders have promised things but failed to deliver.
[doublepost=1468600820][/doublepost]

@cypherdoc


Fair enough.

just to be clear, i didn't say you weren't smarter than everyone else; including me.

 

[solex]

Keeping the momentum up for on-chain scaling. Some reading about Bitcoin 1.x

An Open Letter to Developers Supporting On-Chain Scaling

 

[cliff]

@solex - haven't read the post beyond a quick skim, but it looks exciting. strikes a good tone. i'll definitely be reading this closely later today or this weekend. thanks to all for keeping on keeping on.

 

[cypherdoc]

Keeping the momentum up for on-chain scaling. Some reading about Bitcoin 1.x

An Open Letter to Developers Supporting On-Chain Scaling

thanx @solex for the good read. it is helpful when you, as the President of BU, speaks out on a regular basis to clarify the vision of what Bitcoin is and should be, ie, sound money. and how BU accomplishes this. that should work as a clarion call to the many thousands if not millions of sound money advocates round the world as to which Bitcoin implementation they should be supporting. my thought is this type of thinking has the potential to extend into the billions of advocates if the technology to do this is made readily available in an affordable, reliable, and fast manner thru onchain scaling. this could be a first in human history. thanx for helping to make it happen.

 

[solex]

Thanks Cypher.

Like everyone here I find there is information to give but even more to receive. It's only through reading many varied opinions, such as those seen on GCBU, that one's own perception is refined: that of sound money, fiat, incentives, economics, and how the technological break-through of Bitcoin fits into the global market-place.

I consider that here is the nexus of the best understanding anywhere of the cryptocurrency paradigm and an appreciation of the best way forward. Even as we continue to call the direction it is headed we will also be first to call if it is changing for good or ill.

 

[cliff]

A striking bit of dialogue from the most recent core dev meeting log:

• wumpus
  other topics? last-minute announcements?
• 1:55 pm
  gmaxwell
  I was getting flammed on reddit that it's common knoweldge that bitcoin core's wallet was unusuable for commercial use. I tried to get some unpacking there: https://www.reddit.com/r/Bitcoin/comments/4snk4... might be worth looking at the comments.
• 1:56 pm
  As I've lamented in the past, commercial users just generally don't report issues they encounter. I don't know how to improve that.
• 1:56 pm
  jtimon
  can be after the meeting but...
• 1:56 pm
  wumpus
  well if bitcoin core's wallet is unusable for commercial use, I wonder what wallet is..

https://botbot.me/freenode/bitcoin-core-dev/

 

[cypherdoc]

interesting complaints. not surprising.

 

[freetrader]

Keeping the momentum up for on-chain scaling. Some reading about Bitcoin 1.x

An Open Letter to Developers Supporting On-Chain Scaling

Good proposal!
I'm a little confused about the choice of naming, since Classic v1.1.0 is already out there - is there a co-operation with them to introduce similar features into a common v1.x client?

And is there some movement beyond the twittersphere indicating that miners would actually support a 75%/28d elective activation? Signaling for BIP109 is at a rather dismal 3,7% ...

 

[BldSwtTrs]

Military coup in Turkey. Bitcoin UP.

 

[solex]

@freetrader
Thanks for the feedback. The open letter was first written before Classic announced their 1.1 version, and was held back until the halving news waned. There is no co-ordination yet, except exchange of info. Classic is incorporating Xthin which is very good.

The miners are not happy with the blocks-full situation but are giving Core every chance honor the HK agreement. At some point they will take action and the support for an on-chain scaling solution will climb rapidly to 50+%. I think a lot of people are aware that 2MB is also a temporary hack, which won't help for long and could also become difficult to shift. While no block limit is probably best, having an algorithmic limit is the most realistic option to minimise the number of future hard-forks.

 

[Erdogan]

At some point they will take action and the support for an on-chain scaling solution will climb rapidly to 50+%.

Yep.

 

[BldSwtTrs]

Erdogan, are you heading toward Ankara?

 

[Norway]

Keeping the momentum up for on-chain scaling. Some reading about Bitcoin 1.x

An Open Letter to Developers Supporting On-Chain Scaling

This should be translated to chinese. How do we do that?

EDIT: Maybe we should have a transparent translation fund. One single donation address, and document payouts to named (or nicknamed) translators and the work. I actually got Brian Armstrong to pay a chinese guy at reddit to translate Brian's own powerpoint to chinese once.

 

[albin]

1:55 pm
gmaxwell
I was getting flammed on reddit that it's common knoweldge that bitcoin core's wallet was unusuable for commercial use. I tried to get some unpacking there:

So this dick is pompously trying to blame businesses on reddit for dropping node count, then a number of people chime in to give feedback on why, and that means he was getting "flammed"?

Awwwwww, sweetie.

 

[DanielKrawisz]

Haven't read this yet, but I'm sure many here will want to. Looks like its going to be a winner.

Evening planned. Thanks @DanielKrawisz

It's Not About the Technology, It's About the Money
Daniel Krawisz http://nakamotoinstitute.org

July 13, 2016

Thanks so much @lunar !! I've been trying to write this article for a long time. Each time I explain what money is I get a little better at it.

 

[Erdogan]

Erdogan, are you heading toward Ankara?

It's too hot, maybe I will visit my friend Salman bin Abdulaziz Al Saud.

 

[Norway]

@Erdogan
You are too busy writing on this forum about bitoin, and pay too little attention to your country. I'm not surprised the army is revolting, lol!

 

[cypherdoc]

what the hell is this?

[doublepost=1468628497][/doublepost]

 

[lunar]

@solex

The miners are not happy with the blocks-full situation but are giving Core every chance honor the HK agreement...... While no block limit is probably best, having an algorithmic limit is the most realistic option......

That's good news to hear. It can get a little disheartening sifting through all the shit posts on Reddit and incessant trolling. One group of developers should not be able to dictate the direction of the protocol at such a crucial stage in it's development. - I was led to believe this was OPEN source. and that stood for "collaboration" in the pure scientific sense, rather than it's more recently used 'prisoner of war' sense as Dr Back uttered it.

I tend to agree that an algorithmic method has the best chance for success here, as no limit requires an almost religious belief that a free market on block space will function effectively. Having watched this fuss with all of you for the past year, it's clear not many are ready for that kind of leap in understanding. Unlimited will be ready when they are ;-)

I will admit, having lived entirely in BTC for some time now, that over the last 6 months selling up had crossed my mind. If it were not for the wisdom held within this thread, and the many excellent articles from @Justus Ranvier @DanielKrawisz @KonradSGraf. + many more, I think the majority of logical leaps in understanding to get to this point would have escaped me. Bitcoin is quite simply the best form of money mankind has yet achieved. As such selling up is illogical. (medium - long term thinking). Perfect money is the language of the free market, it was born there, it will exist there, and it will adapt there until it is no longer required.

We've already established humanity has all the tools required to perfect free market money, the only question left to ask is how long it will take to get us there.

Ps if the gods of the free market are listening? Another order of magnitude in price would certainly help to speed things along.