Gold collapsing. Bitcoin UP.

[adamstgbit]

Nice appearance on The Crypto Show by @Rogerver and @Justus Ranvier. Discussing Bitcoin Unlimited, Bitcoin.com pool, scaling, etc.

I listen to most of this, it was excellent.
pretty sure I've heard @Justus Ranvier in another bitcoin podcast thing with that dashgirl? anyway its always gr8 to hear his take on things.

 

[Norway]

 

[adamstgbit]

https://bitnodes.21.co/nodes/

Its gr8 that BU's been getting more hashing power
but BU's going to need more non-minning nodes to.

 

[solex]

@adamstgbit
Our stalled node count is a concern. It did touch 400 for a while and it is a surprise to see 375 again, this being despite the GBMiners news. On the other side of the coin the 0.13.1 adoption is 40% of the total node count (~2100). Although this is itself curious because the 0.12.1 node count is not much changed from the day before SegWit was launched, and also the 0.13.0 node count has only dropped about 700.

 

[Zangelbert Bingledack]

The business nodes are mainly what matters, and no business wants to draw the ire of half the community by coming out in support of either side. Right now the safest type of node to run from that perspective is a Core node.

 

[awemany]

Well, presumably you would phase out those transactions *going forward* but the locked coins would be done in a transaction already recorded in the blockchain, no? Just because you wouldnt allow that type of transaction going forward doesn't mean you can't honor existing ones. Is someone supposed to be abusing n^2 by setting up transactions that will be executed months and years into the future? (hint, they're not even doing it with transactions to be executed immediately)

EDIT: Forget what I wrote, with conditions on inputs potentially hidden in P2SH that worry doesn't even make sense. The reasoning gets complex with all the time-locking pretty fast.

But, yes, I am talking about that scenario, transactions prepared offline that take too long to validate. What about those? Are there any potential worries?

 

[_mr_e]

The business nodes are mainly what matters, and no business wants to draw the ire of half the community by coming out in support of either side. Right now the safest type of node to run from that perspective is a Core node.

Once there is enough hashpower, I think we will begin to see business nodes come out of the woodworks. Coinbase and BitPay already tried... They just need a bit more [hash]power behind them to feel safer standing up!

If this goes down the way I think it will, it will be such a beautiful thing for the history books.

 

[_mr_e]

I found this article to be VERY interesting: https://www.theguardian.com/technology/2016/dec/16/venezuela-bitcoin-economy-digital-currency-bolivars

There's just so many exciting uses for bitcoin now!

These people can take online jobs, work for cheaper then other people, get bitcoin and either sell them at an inflated price, only when they need local currency, or use purse.io to buy their everyday goods at an even further discount. People like me who have bitcoin can hire these people for online work at a discount - win win - and no matter what their government does, no matter how illegal they try and make bitcoin, as long as bitcoin continues to be used and have a price in other countries, there will always be people buying and selling it inside the country. It's just too unbelievably easy to move massive amounts across the border.

The bitcoin economy is really beginning to connect the dots and it doesn't even need merchant adoption to do so. "Underground" adoption will have the exact same effects. Bitcoin is spreading and integrating itself into economies all around the world and these charts speak far more volume then anything else: https://coin.dance/volume/localbitcoins

 

[Norway]

SegWiz

 

[adamstgbit]

@adamstgbit
Our stalled node count is a concern. It did touch 400 for a while and it is a surprise to see 375 again, this being despite the GBMiners news. On the other side of the coin the 0.13.1 adoption is 40% of the total node count (~2100). Although this is itself curious because the 0.12.1 node count is not much changed from the day before SegWit was launched, and also the 0.13.0 node count has only dropped about 700.

that is very suspect... worth some investigating. civil attack is a bitch.
I think a very strong incentive to run a node would be idea of playing a part in EC
I dont think poeple realize that they can really make a difference.
since core nodes all express the exact same bloody thing "1MB forever"
running one out of 5000 of these makes no difference.
with BU each node has own individual "personality" (each node will behave differently based on settings)
...
poeple need to be made aware of this idea.

i've actually been trying to sync a BU node as of very recently ( i haven't ran a full node since 1995 ! ). i see we actually have a fighting chance so... I'm running the software!

 

[adamstgbit]

thats right you assholes
1.5 MB
Deal with it!

 

[albin]

I can't help but think that we'd be in such a better place once BU adoption were to be firmly in place.

If right now we could even just rapidly come to a consensus and roll out 1.5 MB in that manner without all the drama and recriminations that putting Core in charge of the decision creates, we'd be in a much more healthy position.

 

[satoshis_sockpuppet]

thats right you assholes
1.5 MB
Deal with it!

Great. Now you destroyed the Bitcoin consensus and my coins aren't worth anything any more!
You destroyed Bitcoin!

 

[Zangelbert Bingledack]

Excellent interview with Chandler Guo on how power companies in China are getting into mining, treating bitcoin miners as huge "batteries" for surplus power they would otherwise be throwing away because they can't sell it. He further makes the point that every small energy company has the problem of abandoned energy, everywhere in the world.

 

[freetrader]

Really, is no-one able to update the poll at the top of this thread to something more relevant?

@cypherdoc , we know you still lurk

 

[molecular]

Excellent interview with Chandler Guo on how power companies in China are getting into mining, treating bitcoin miners as huge "batteries" for surplus power they would otherwise be throwing away because they can't sell it. He further makes the point that every small energy company has the problem of abandoned energy, everywhere in the world.

The problem even exists on the micro-scale. Where I live, photovoltaics are being subsidized. Sometimes the power carrier will deny acceptance of your power into the grid. Same for wind turbines.

Once ASICS are commoditized and cheap enough, those (and a bunch of other) use-cases become viable. This could have a huge decentralizing effect and people serious about keeping decentralization level high should put their efforts into making mining hardware cheaper (not limit the blocksize, duh)

 

[Zangelbert Bingledack]

Haven't looked at this chart in a while. Price is below the exponential trendline and continues to be way below the difficulty. Looks like the debate is holding things back. Still a rally could be inevitable just due to pent up pressure. If it coincides with a cracking open of the Core, that will be epic.

 

[theZerg]

thats right you assholes
1.5 MB
Deal with it!

Im also happy to see you using the traffic shaping!

 

[albin]

The other shoe is finally dropping, and Maxwell is openly explaining what a large proportion of the Bitcoin community have known all along but have been relentlessly attacked and abused for pointing out.

Segwit is not some mundane softfork, it's the opening move in an agenda to incrementally move Bitcoin toward central technocratic capacity control.

We wonder why they're not willing to make compromises say such as bringing in segwit but hardforking to create the capacity increase? It's because the removing of signatures from txid and relieving quadratic hashing overhead isn't really what they primarily wanted, the discount is what they wanted all along as a pretext for incrementally repurposing blocksize into a system of arbitrary metrics and feedback controls.

 

[Richy_T]

The cracks are showing. He's directly accusing users of being paid shills.