Bitcoin being Bitcoin (was Re: the crashening)

[chan3] Bitcoin
Dec 7 23:27

It's already at 350 sat/byte and rising according to (grain of salt as they're a mining pool and fees are their source of income) SO WHAT. We've seen fee fluctuations before. This doesn't alter any of the fundamentals of the system.

[chan] Bitcoin
Dec 7 23:54

Bitcoin is fundamentally centralized. It cannot scale. The more users, the faster the blockchain grows, and the more centralized it must become to continue functioning. Blockchain cannot scale. There is no trick to make it scale. As a blockchain grows, you will eventually exceed the limits of computational power to keep the system running, and you must start dropping the blockchain. As the volume of inputs to the blockchain increases you must split the blockchain into new, separate chains that cannot interact. It does not scale. Blockchain eventually grows into a central database or forks toward multiple central databases.

[chan] Bitcoin
Dec 8 00:01

I should remind you that main invention of Bitcoin is technical: it's a monetary system that allows anyone to join and use it (that is, transfer the damn money) without relying on a powerful third party. Exchange market fever is irrelevant bubble on a new unregulated and gravity-less arena. If Bitcoin starts being pain in the ass as a money transfer system even for big willing adopters (see Steam announcement), it becomes a pure gaming fraud.

[chan] Bitcoin
Dec 8 13:10

In bitcoin you may prune old blocks. You may only archive directory data/chainstate and data/blocks. Example rev00910.dat has 16MB blk00910.dat has 128 MB chainstate dir has ~4 GB

[chan] Bitcoin

Subject Last Count
help Dec 15 03:52 4
Activation Codes BIG Sale Dec 14 23:01 1
PIVX problem Dec 13 15:30 2
Segwit Dec 10 01:39 8
Maps are not round Dec 9 20:01 3
motions: earth not a globe Dec 9 17:09 1
59% of Indonesian Muslims have persecuted minorities Dec 9 14:10 1
The Russian Barbarity. Smolensk: The body of the Polish admiral was desecrated. Dec 9 14:05 1
band 1023MB Dec 9 14:00 1
PROOF GPS Satellites Do Not Exist Dec 9 13:45 1
Lightning on testnet Dec 9 13:37 14
Bitcoin being Bitcoin (was Re: the crashening) Dec 8 13:10 4
Fiat money is devaluated every day compared to Bitcoin... Dec 8 12:55 19
the crashening Dec 8 07:12 6
Genghis Koyn warned about SEC clampdown months beforehand Dec 7 15:05 1
Nicehash Hacked – $60 Million Worth Of Bitcoin Stolen Dec 7 13:23 2
Steam Stops Accepting Bitcoin Payments Citing Extreme Volatility, Fees Dec 7 12:43 1
Kaspersky Internet Security 2018 - Multi-Device (Windows, MAC, Android) Activation Codes BIG Sale Dec 5 00:48 1
Venezuela Petrocoin Dec 4 16:23 2
The Homosexual Perversion: A Jewish Criminal Simhke for the Postmodern Corporate Conformist Nov 27 23:49 6
Decentralized p2p exchange? Nov 27 21:51 11
Live webcast from Baltic bitcoin conference Nov 27 03:06 1
Kaspersky Internet Security 2018 - Activation Codes BIG Sale Nov 27 02:53 1
Ideas for Bitcoin Nov 24 13:59 5
John McAfee reaveals why Bitcoin is a fraud slated for a bursting bubble Nov 24 13:40 7
Why bitcoin and all currencies eventually fail Nov 24 04:15 6
test Nov 24 01:18 2
BIP39 wallet for all coins Nov 22 16:15 4 Nov 20 15:49 4