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by arnoudk
Thu Jun 30, 2016 10:29 pm
Forum: Bitcoin Discussion
Topic: Positive News for Bitcoin Today
Replies: 12
Views: 3043

Re: Positive News for Bitcoin Today

Image
by arnoudk
Fri Jun 24, 2016 8:22 pm
Forum: Bitcoin Discussion
Topic: Brexit pushing bitcoin price higher?
Replies: 8
Views: 1889

Re: Brexit pushing bitcoin price higher?

It went from 500 euro (approx) to 600 euro (approx). Of course, this volatility is to be expected in bitcoin and does not have to be related to the brexit vote. But still, the timing of this increase did co-inside with it. I agree that bitcoin's fundamentals (block size increase) needs to be fixed ...
by arnoudk
Fri Jun 24, 2016 7:19 pm
Forum: Bitcoin Discussion
Topic: Brexit pushing bitcoin price higher?
Replies: 8
Views: 1889

Re: Brexit pushing bitcoin price higher?

It went from 500 euro (approx) to 600 euro (approx). Of course, this volatility is to be expected in bitcoin and does not have to be related to the brexit vote. But still, the timing of this increase did co-inside with it. I agree that bitcoin's fundamentals (block size increase) needs to be fixed f...
by arnoudk
Fri Jun 24, 2016 6:35 am
Forum: Bitcoin Discussion
Topic: Brexit pushing bitcoin price higher?
Replies: 8
Views: 1889

Brexit pushing bitcoin price higher?

I am watching the brexit vote results coming in, and I am watching the bitcoin price. There seems to be a strong correlation between the timing of the vote 'appearing to be Leave' and buying of bitcoins (and also, selling of pounds sterling - the british fiat currency is losing a lot of its value). ...
by arnoudk
Mon Jun 20, 2016 8:50 pm
Forum: Bitcoin Discussion
Topic: Only a fool, a troll, or someone who isn't paying any attention, would think that blocks aren't full recently.
Replies: 15
Views: 3315

Re: Only a fool, a troll, or someone who isn't paying any attention, would think that blocks aren't full recently.

I did not say that is a lot of work that needs to be done before a blocksize increase, but that there is a lot of work that needs to be done before Bitcoin is ready for prime-time usage globally. Everyone knows it is simple to hard-fork to a 2mb, 4mb, 8mb, or 20 GB block. Why go to 2MB when we coul...
by arnoudk
Mon Jun 20, 2016 8:12 pm
Forum: Bitcoin Discussion
Topic: Only a fool, a troll, or someone who isn't paying any attention, would think that blocks aren't full recently.
Replies: 15
Views: 3315

Re: Only a fool, a troll, or someone who isn't paying any attention, would think that blocks aren't full recently.

https://twitter.com/rogerkver/status/744901159886819328 Does anyone disagree, and if so, why? I don't disagree that blocks are currently full, it's that I just don't care to allow people unfettered access to bloat the blockchain without paying for it. I just made a purchase at your Bitcoin store wi...
by arnoudk
Mon Jun 20, 2016 7:54 pm
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

back to normal. Yes, but this does not mean that all transactions were processed that were in the queue. They expire after 3 days. Part of the decline is undoubtedly caused by blocks being mined. I suspect part of the decline is also expiration after 3 days. If I look at my disk storage of unconfir...
by arnoudk
Sun Jun 19, 2016 1:49 am
Forum: Press
Topic: [2016-06-17] CD: The DAO Attacked: Code Issue Leads to $60 Million Ether Theft
Replies: 6
Views: 1706

Re: [2016-06-17] CD: The DAO Attacked: Code Issue Leads to $60 Million Ether Theft

If Ethereum hard forks and recovers stolen coins... it should forever be renamed to VitalikCoin and those who want to own it should know their master. That destroys the purpose of a blockchain in the first place. I agree. There are no good choices here, but the best choice of the bad choices would ...
by arnoudk
Sun Jun 19, 2016 12:20 am
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

I agree that much of spam is arbitrary and subjective (not flood attacks though , which is very deliberate spam) and have already suggested that this is all fine and we should allow spam on the network- even flood attacks..... as long as the costs aren't externalized and the sender is paying the fe...
by arnoudk
Sat Jun 18, 2016 11:59 pm
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

While this is correct in principle it has 2 incorrect assumptions in practice: 1) It ignores that fact that there are currently many spam txs on the network thus there is indeed capacity if we bump just out price these txs - See this for examples of what is spam - https://en.bitcoin.it/wiki/Flood_a...
by arnoudk
Fri Jun 17, 2016 12:05 am
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

I make txs daily and always get in the next block. I think once I had to wait till the 2nd block. Your statement is only accurate if people use poorly designed wallets or are purposely setting the fees low. Yes, if you pay more than your competition, you will get in the next block or two. However, ...
by arnoudk
Thu Jun 16, 2016 6:07 pm
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

There is a lot of ignorance and misinformation around. The default mempool set for nodes is 300MB and half of that is for txs. This has been the case for a very long time. So the statistic of "29 MB " mempool isn't very useful and is just fear mongering. What we should be disusing is the atrocity t...
by arnoudk
Thu Jun 16, 2016 3:53 am
Forum: Bitcoin Discussion
Topic: Bigger blocks = a more secure and diverse Bitcoin.
Replies: 23
Views: 4635

Re: Bigger blocks = a more secure and diverse Bitcoin.

= more miners = I actually think that more miners will be a natural step in the evolution of mining hardware. Right now, the hardware that is being made has only one function: to find blocks. Chips that are state of the art today, are obsolete one year from now. The extremely impressive arms race h...
by arnoudk
Thu Jun 16, 2016 3:42 am
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

How many new people won't use bitcoin again? How many existing people are pissed off and leaving? How many businesses are being hurt because transactions can't get through? You don't get a second chance for a first impression - and right now the first impression is bad for far too many people. For ...
by arnoudk
Thu Jun 16, 2016 3:36 am
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

My clients businesses of whom take payments in Bitcoin have furious customers. I just got off the phone with one of my clients who said to me, "Nobody is going to use Bitcoin". Yes, there are a few things that really piss me off about this whole situation. 1. User experience for people using bitcoi...
by arnoudk
Thu Jun 16, 2016 3:19 am
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

Now its, "the mempool is out of control, my node could crash". Great. Wasn't this problem solved? I remember that Bitcoin XT had a very simple (but effective) mempool eviction strategy that basically dropped a random transaction from the mempool - as a preferred strategy to crashing and thus droppi...
by arnoudk
Thu Jun 16, 2016 3:01 am
Forum: Bitcoin Discussion
Topic: Mempool continues to grow could this be the tipping point?
Replies: 28
Views: 5124

Re: Mempool continues to grow could this be the tipping point?

last year the mempool was at 55MB without a problem. it would take 1-2 GB of data to crash a node. i think we are in the green zone at the moment. This very much depends on your definition of green zone. If you mean that nodes won't technically crash at the same time all around the world - then yes...
by arnoudk
Wed Jun 08, 2016 2:57 am
Forum: Bitcoin Discussion
Topic: PART 2 | Massive On-Chain Scaling for Bitcoin
Replies: 7
Views: 1658

Re: PART 2 | Massive On-Chain Scaling for Bitcoin

Block propagation is now good enough. Can it be improved upon? Sure. But why spend valuable time and resources on that, when this solution exists and works. It is GOOD ENOUGH. It is no longer a bottleneck for on chain scaling in the immediate future. The BU team has lots of other great optimizations...
by arnoudk
Wed Jun 08, 2016 2:51 am
Forum: Bitcoin Discussion
Topic: PART 2 | Massive On-Chain Scaling for Bitcoin
Replies: 7
Views: 1658

Re: PART 2 | Massive On-Chain Scaling for Bitcoin

Node count up! But....

.... do you mean that ...

... people would rather have a very good propagation improvement now, rather than the promise of an even better propagation improvement sometime in the future, maybe. Shocking!

;)
by arnoudk
Tue Jun 07, 2016 10:34 pm
Forum: Bitcoin Discussion
Topic: PART 4 | Massive On-Chain Scaling for Bitcoin
Replies: 4
Views: 886

Re: PART 4 | Massive On-Chain Scaling for Bitcoin

Impressive savings.

I am sure this could be improved further, but this is good enough for the next few years of on chain scaling. I'd say: GREAT, Good Job, it's good enough. Let's move on.
by arnoudk
Sun Jun 05, 2016 8:15 pm
Forum: Bitcoin Discussion
Topic: Greg Maxwell's economic ignorance on full display
Replies: 41
Views: 9032

Re: Greg Maxwell's economic ignorance on full display

You cannot expect to have a discussion, while simultaniously doing character assasinations of the group you pretend you want to have a discussion with. I keep pointing this out to you and you keep doing it. If you generalize to 'all big blockists' and then proclaim something negative about that enti...
by arnoudk
Sun Jun 05, 2016 6:30 am
Forum: Development & Technical Discussion
Topic: Reducing miners' electricity consumption
Replies: 7
Views: 3045

Re: Reducing miners' electricity consumption

Thanks for these thoughts. Ok, I have read your paper and I am sure I don't quite get every aspect of it, yet. You state that mining is wasteful, because hashes are thrown away most of the time. This is not accurate, the value is exactly in the work of the hashes that are thrown away. The successful...
by arnoudk
Sat Jun 04, 2016 10:26 pm
Forum: Bitcoin Discussion
Topic: Greg Maxwell's economic ignorance on full display
Replies: 41
Views: 9032

Re: Greg Maxwell's economic ignorance on full display

Yup this is the attitude synonymous with big blockers. No dialogue; No science. So you are saying all people who support big blocks have two things in common: No dialogue & No science. Very generalizing. Very unscientific. And not an argument.I guess you should look in the mirror. Yes this exactly....
by arnoudk
Sat Jun 04, 2016 9:24 pm
Forum: Bitcoin Discussion
Topic: Greg Maxwell's economic ignorance on full display
Replies: 41
Views: 9032

Re: Greg Maxwell's economic ignorance on full display

Take your scams somewhere else. Yup this is the attitude synonymous with big blockers. No dialogue; No science. So you are saying all people who support big blocks have two things in common: No dialogue & No science. Very generalizing. Very unscientific. And not an argument.I guess you should look ...
by arnoudk
Sat Jun 04, 2016 8:06 pm
Forum: Bitcoin Discussion
Topic: PART 3 | Massive On-Chain Scaling for Bitcoin
Replies: 4
Views: 1001

Re: PART 3 | Massive On-Chain Scaling for Bitcoin

Very impressive results, yet again. So basically, xthin blocks pass through the "Great" Firewall of China faster, than regular blocks pass through the open peer to peer system. I read on bitco.in (I think) that the Unlimited team is working on another optimization - Xpedited blocks - which improves ...
by arnoudk
Sat Jun 04, 2016 1:49 am
Forum: Bitcoin Discussion
Topic: Bitcoin Price Breaks The Barriers, Crosses $500 Mark
Replies: 3
Views: 926

Re: Bitcoin Price Breaks The Barriers, Crosses $500 Mark

Paypal processes a hundred transactions per sec, Visa 4000, and Bitcoin is only at 7? Something needs to change here. Indeed, bitcoin needs to scale. Most people say they agree with that, but do not act and appeal to an authority (Core) to do it for them. This appeal to authority is antithetical to...
by arnoudk
Fri Jun 03, 2016 11:15 pm
Forum: Bitcoin Discussion
Topic: Bitcoin price at a 2-year high
Replies: 0
Views: 602

Bitcoin price at a 2-year high

2year-high.png
If you look at this 2 year graph (EUR currency, Kraken exchange) - you see that the current price is higher than any time in the past two years.

Impressive.
by arnoudk
Fri Jun 03, 2016 6:24 pm
Forum: Bitcoin Discussion
Topic: Greg Maxwell's economic ignorance on full display
Replies: 41
Views: 9032

Re: Greg Maxwell's economic ignorance on full display

I get your points about Ether, but I have a major problem with 'voting with your feet' to another cryptocurrency. The main argument against holding bitcoin, for me, is the fear that it would just be replaced by another cryptocurrency - and then you are left holding worthless bits. The run towards Et...
by arnoudk
Fri Jun 03, 2016 6:07 pm
Forum: Bitcoin Discussion
Topic: Bitcoin Price Breaks The Barriers, Crosses $500 Mark
Replies: 3
Views: 926

Re: Bitcoin Price Breaks The Barriers, Crosses $500 Mark

It just kissed the EUR 500 mark on Kraken.

It is incredible how fast bitcoin is gaining value. It just needs another doubling to be in the All Time High price category. Will it get there? I don't know. I suspect that there really needs to be a scaling solution before such a price is warranted.
by arnoudk
Fri Jun 03, 2016 6:28 am
Forum: Bitcoin Discussion
Topic: Massive On-Chain Scaling for Bitcoin
Replies: 15
Views: 2273

Re: Massive On-Chain Scaling for Bitcoin

I too agree, the series and technology is fantastic, this is exactly the type of developers Bitcoin requires!!!!!!!!!!!! I'm currently running Classic nodes, although I will be ordering new servers to house Unlimited nodes this week. 50% of my nodes will run Classic and the other 50% will run Unlim...

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