@LaurentMT Also @gavinandresen referred to full scale network simulations spinning up; I’d like to know more.
@LaurentMT Propagation worries me most - I’d hope that IBLT lands before / in conjunction with larger blocks.
@JeromeLegoupil Gavin has done a good job addressing objections IMo. And there will always be reasons to maintain status quo.
@orweinberger @gavinandresen But I’d also like to not have to rehash this debate every time blocks get full…
@orweinberger @gavinandresen IMO any increase with full consensus is preferable to larger increase with lots of conflict.
@orweinberger The Core Devs aren’t the only ones with a stake or with a say in this game.
@jonmatonis @pierre_rochard I hope embedded mining socializes away the cost of mining so that we don’t need to worry about it.
@pierre_rochard The hard question is when do we worry about fee revenue vs miner subsidy.
@pierre_rochard It think it’s dangerous to try to categorize which usage is real / legitimate. I like @gavinandresen’s neutral approach.
7) When given the choice between doing /nothing/ and doing /something/ while hurtling toward a virtual brick wall, I choose the latter.
6) While it’s true that Bitcoin won’t break if we hit capacity and confirmations take days, this hobbles one of its greatest features.
5) Unhappy users leave in search of alternative services that can provide the high quality & reliability they demand.
4) At @Bronto we knew that delayed processing, even if only during short spiky periods of high usage, would make our users unhappy.
3) Industry best practice is to begin planning capacity increases as you approach 50% capacity; you never want to exceed 90% usage.
2) When it comes to capacity planning for a high growth system, you don’t take a “wait and see†approach. This leads to emergency changes.
1) For the past 8 years I worked as an engineer for @Bronto Software where we experienced ~50% YoY growth in data processing requirements.
glassbottommeg Players would hide the dongs where the filtering couldn’t see, or make them only visible from one angle / make multi-part penis sculptures.
glassbottommeg Funny story - we were asked to make dong detection software for LEGO Universe too. We found it to be utterly impossible at any scale.
From my perspective, the Core Devs who are fighting against increasing the block size are losing the community’s support; Gavin is winning.
I rarely disagree with Greg Maxwell, but I think it IS the job of Core Devs to convince the community to accept or refuse major changes.
At the end of the day, Bitcoin is not what the Core developers agree upon. It’s not what the miners agree upon. It’s what we ALL agree upon.
Seems to me that everyone is overlooking the fact that @gavinandresen’s 20 MB block limit proposal will keep the default block size at 750KB
@pm_lyon Probably hard to do a 1:1 comparison because we’re also doing work related to all of the wallets we manage
@pm_lyon My best efforts so far have reduced it to exactly 24 hours but I’m sure that there are still some bottlenecks I haven’t found.
@pm_lyon Yeah, we are multithreading our tx processing and using a cluster of RAM based DBs.
@aantonop Thanks! I hope my writing encourages other Bitcoin developers to post lessons learned / best practices. We’re in this together.
@pm_lyon Thus our ‘source of truth’ as to if a UTXO is spendable is whether or not it exists in the UTXO table.
@pm_lyon Originally we’d mark outputs as ‘spent’ on the tx itself, now we instead delete the UTXO from the UTXO table.
@pm_lyon Thanks for the response. It sounds like you’re doing something similar to us; we have a separate table for unspent outputs.
@LaurentMT @MarsuTwitt My assumption is that it was just variance that hit coincidentally.
LaurentMT Interesting charts about last night bitcoin “stress test” (from @blockr_io) cc: @lopp @MarsuTwitt pic.twitter.com/pVQwgojMXp
@LaurentMT @MarsuTwitt Obviously we need to perform more stress tests in order to gather more data points :-)
.@Cpzhao confirms what many of us have suspected about @OKCoinBTC’s volume, trading practices, and more: https://t.co/boxtsU2DHK
@gavinandresen Does this mean you are now considering increasing the default block size along with the limit?
A unique realtime visualization of unconfirmed bitcoin transactions: dailyblockchain.github.io
@flyosity Another possibility, if Bitcoin maximalism does take hold - I guarantee in that scenario the Bitcoin Barons will free him ;-)
@flyosity I’m optimistic, but I find it unlikely that he’ll spend his entire life in prison given the current trajectory of public sentiment
@oocBlog @pierre_rochard @port8333 is monitoring every node that accepts incoming connections AFAIK. Which is ~20% of the nodes by my guess.
@oocBlog @pierre_rochard Hmmmm you should talk with Addy at @port8333; I think he has the data, just not exposing it via his API.
@oocBlog @pierre_rochard Hm that was right around when the backbone network was deployed; can you run another analysis?
@DJ_Erock23 @AlpacaSW @aantonop I’m working on keeping the site up; the software I use isn’t designed for public traffic / high loads.
RT @aantonop: Bitcoin blockchain stress-test in progress. More than 24,000 unconfirmed transactions at peak. See a chart here:
http://t.co…
@pierre_rochard Maybe; my understanding is most miners already use the relay/backbone network. I defer to @oocBlog for miner expertise.
Looks like a lot of the mining pools still have their internal block size limits set below 1MB pic.twitter.com/xnWMHktsmP
@pierebel @BryceWeiner This is all going down on mainnet with the 1 MB block size limit.
@pierebel @BryceWeiner The stress test? Shows that if usage exceeds max block size, txs get stuck in mempool; confirmation times increase.
@pierebel @BryceWeiner Looks like the popularity is getting the best of the server; Graphite / Grafana aren’t really meant for high usage.
Looks like we peaked at 20 transactions per second; about 10X more than the current block size supports. http://t.co/1YgZZ12NRO
@LaurentMT @kristovatlas are these charts publicly available?
Bitcoiners are stress testing the network, showing the need for larger block sizes: http://t.co/yYzNJ3dS3O
@TheBlueMatt @ryanxcharles @gavinandresen Given that Bitcoin is whatever the community embraces, perhaps you should be convincing them?
@TheBlueMatt @ryanxcharles @gavinandresen If the experts are right and the rest of the community is wrong, does Bitcoin deserve to fail?
@pierre_rochard BTCPlex docs say it took a week+ to build a year ago. BitcoinVisualizer imports from @blockchain API, probably takes WEEKS.
@pierre_rochard Based upon my quick scan, all 3 of those use the naive (but safer) serialized approach of 1 block at a time, 1 tx at a time.
@BlockCypher @blockchain @biteasy_com @blocktrail @blockr_io @chain @gemhq @coinbase @Coinprism Feedback appreciated https://t.co/8Wl1GA8XD4
@pierre_rochard I haven’t though I would love to; are there any open source explorers other than Toshi and Insight?
The Challenges of Block Chain Indexing https://t.co/8Wl1GA8XD4
RT @a_greenberg: Silk Road founder Ross Ulbricht sentenced to life in prison http://t.co/qvYB8rid17 updates to come.
“For many tech experts at banks, the most valuable use of the blockchain is not small payments but very large ones.” - @nathanielpopper
ErikVoorhees Ross Ulbricht is being sentenced today. He did more to reduce violence in the drug trade than probably anyone in history. #bitcoin #silkroad
“It was horribly depressing. Like waking from a restless dream to find yourself in a cage with no way out.” - @Free_Ross
“Everywhere I looked I saw the State, and the horrible withering effects it had on the human spirit.” - @Free_Ross
RT @kristovatlas: Why is privacy hard for mobile Bitcoin wallets? http://t.co/ecRSdqWNMN
@ncweaver @kristovatlas @pierebel Freedom is a key enabler of people exercising their power irresponsibly and harming innocents.
@ncweaver @kristovatlas @pierebel I don’t, but nor do I consider financial privacy / money laundering / victimless crimes to be immoral.
@ncweaver @kristovatlas @pierebel You seem to be using the legal definitions while others use moral beliefs, thus conflict emerges.
@ncweaver @kristovatlas @pierebel I think we have different definitions of “criminal” and “legitimate,” which is fine…
@ncweaver @kristovatlas @pierebel Oh, OK, so you consider all “criminal” activities to be immoral / evil. *shrugs*
@ncweaver @kristovatlas @pierebel Bitcoin is evil? Is that you, @NYTimeskrugman?
@danielpbarron testnet is the currency of the future!
I could be wrong, but logs suggest one of my testnet nodes hit a 2,000+ block orphan chain during last block storm. pic.twitter.com/9QV8ymIDav
RT @NickSzabo4: Origins of smart contracts:
First paper: http://t.co/5fhxZsAHZD
Peer-reviewed extended version: http://t.co/xB3dCNM7py
@maraoz Audio is going in and out; kind of jittery. We’re getting this error when closing the stream: http://t.co/p1sBvB9CwE
@maraoz crank the music!
@Awyee707 @anarcholiberty @ErikVoorhees Only if you value your bitcoins in terms of fiat ;-)
@anarcholiberty @Awyee707 @ErikVoorhees Exactly; there is no such thing as “stable value” - all value stability is relative.
@Awyee707 @ThomasPaine5 @ErikVoorhees @ponli137 And that is different from any other publicly traded asset… how?
@Awyee707 @ThomasPaine5 @ErikVoorhees @ponli137 51% ownership of all bitcoins is not a magic number; you can “manipulate” market w/far less.
Is it ironic that many crypto & security development mailing lists use Mailman software that emails your passwords to you in cleartext?
5) Thus it will still be imperative that any launched PoW sidechain has sufficient mining power protecting it against computational attack.
4) If a miner attack prevents txns from being confirmed, you couldn’t post your “locking†proof on the sidechain to redeem your bitcoins.
3) However, if a sidechain uses a PoW mining mechanism, it seems to me that certain mining attacks could break the pegging process.
2) This is because the 2 way pegging process allows you to convert your sidechain tokens back to your bitcoins if the sidechain fails.
1) Sidechains are meant to make it easier to experiment with significant changes to blockchain systems while eliminating many risks.
@Rothbardian1627 Well the bill is available at http://t.co/oqTu5b0ROG or you can talk to @DanSpuller @Cryptolina @PerianneDC
aantonop Governments try to ban bitcoin? LOL
The image below includes a signed bitcoin transaction transferring $12m USD. pic.twitter.com/4QaH1s7br8
@Satoshi_N_ @NickSzabo4 So it’s true - Satoshi is female after all!
@simondlr Digital Gold by @nathanielpopper
After @wences learned about Bitcoin he paid hackers $250,000 to spend months searching for an exploitable flaw in the protocol. They failed.
@nathanielpopper Hey @Satoshi_N_, can I borrow that for the next time I “Lopp It Off” with @johnbiggs? I estimate it gives +1000 Lopping XP
port8333 Bitnodes Hardware Ready-to-run all-inclusive Bitcoin full node hardware powered by a quad-core single-board computer getaddr.bitnodes.io/hardware/
The first two email responses to Satoshi’s whitepaper claimed Bitcoin was fatally flawed. The third response was Hal Finney. #DigitalGold
adam3us I would not want to predict what bitcoin cant do; we dont know yet what limits are, we are at beginning of understanding programmable trust.
The TSA’s million dollar millimeter wave machines still can’t tell the difference between cargo pockets and a shiv. #SecurityTheater
RT @ErikVoorhees: Dee Hock, Founder of Visa: “Bitcoin represents not only the future of payments but also the future of governance†https:/…
@ameir @ddahlke @mikestable It beats the pants off the combination pizza hut and taco bell! https://t.co/pFv7Bc2Y3B
“Key to understanding how societies evolve is understanding factors that affect costs & rewards of employing violence” #SovereignIndividual
Are you multilingual? Lighthouse needs translating and it’s only ~200 sentences worth of content. https://t.co/ykcQwz1KaE
@RussHarben @TuurDemeester @adam3us @austinhill @Blockstream I don’t see any sibling chains touching in that graphic, though…
@TuurDemeester And of course it will depend upon difficulty to perform. Centralized custodial exchanges may remain popular for convenience.
@TuurDemeester *I don’t think it’s possible (via pegging) - swaps are less clear to me. Will be interesting to see which is more popular.
@TuurDemeester Yes, though this may require a 3rd party to run a market to find people with whom to swap.
@TuurDemeester Remember it’s a tree structure though; don’t think you can move from one sidechain to another if they aren’t parent-child.
@TuurDemeester If you were moving an asset from sidechain A to a sidechain B that is a child of A, it would only require a tx on chain A.
@TuurDemeester Here’s the relevant portion of the sidechains whitepaper blockstream.com/sidechains.pdf pic.twitter.com/IfGAu6FQVr
@TuurDemeester Sidechains aren’t a great scalability solution; I explain why here: https://t.co/iOPMVgkLJX
@kristovatlas Against a partial system failure cascading into complete system failure, whether malicious or otherwise.
@kristovatlas Robustness
Efficiency or decentralization: pick one.
@mauroperetti Maybe, but perhaps they’re extrapolating that if their chips become pervasive, they’ll dwarf all other miners.
@el33th4xor @mauroperetti True; probably a part of the tech stack they developed. Sure would be nice if they implement a decentralized pool.
@el33th4xor @mauroperetti You mean configuring the device to use a mining pool?
@mikeinspace @mauroperetti … unless BTC exchange rate increased exponentially :-P
@mikeinspace @mauroperetti Sure, though that translates to linearly increasing power rather than exponentially increasing.
@mikeinspace @mauroperetti There have been several generations of hardware, though it may be plateauing now, reaching fabrication limits.
@mikeinspace @mauroperetti Yeah, that will get interesting based upon A) the life expectancy of the device and B) future hashrate growth.
@mikeinspace @mauroperetti Just speculating; we don’t know numbers yet. But there’s also the benefit of decentralizing mining.
3) @mauroperetti With embedded mining the device will always have ‘fuel’ so long as the Bitcoin network is still functional.
2) @mauroperetti You COULD have the device ‘call home’ to the manufacturer to request satoshis, but that’s a single point of failure.
1) @mauroperetti When you sell a device you don’t know how long it will run, if at all. Preloading device w/ satoshis might be a waste.
.@mauroperetti I’ve been thinking more about @21dotco’s claim of embedding mining convenience:
@polemitis Checkmate, Bitcoiners!
.@eluxBTC has posted a follow-up to @btcWhaleclub’s @21dotco conversation. https://t.co/x2pNHTThbC
@Bitcoin_Regs Are you in the Triangle area? If so, I hope we can meet up some time.
@OfficialNuBits “Value stability” is relative. Every value is volatile, just to different degrees. For example: http://t.co/NV6fowCWBo
Critics can find numerous reasons to claim it’s fatally flawed, but they can’t diminish the utility & value people already find in Bitcoin.
@el33th4xor Surely the new $1,000,000 superforum will have security the likes of which the world has never seen!
@el33th4xor Hashing == Proof of Dispute
RT @gavinandresen: Are bigger blocks significantly better for bigger miners? http://t.co/kYJzrcukA8
@SamouraiWallet @drewmikb @kristovatlas @BitcoinRat According to @21dotco they’ve built a full tech stack around the chips. Features TBA.
@SamouraiWallet @drewmikb @kristovatlas @BitcoinRat Sure; that will be one of @21dotco’s big challenges.
@SamouraiWallet @drewmikb @kristovatlas @BitcoinRat I don’t think that’s a great comparison; @21dotco has already partnered w/big companies.
@SamouraiWallet @drewmikb @kristovatlas @BitcoinRat The incentive will be the additional functionality offered by the device manufacturers.
@kristovatlas Which is why it’s important to have the user supporting it w/o even knowing it ;-)
@kristovatlas From one perspective the end user is “losing money,” from another they are paying to support the network infrastructure.
@gigq Apparently, though no more prognostications of $10 exchange rates.
@alansilbert I appreciate the naysayers. I’ll appreciate their public posts more in the far future as I reminisce about the good ol’ days.
Professor Bitcorn says that we can achieve consumer safety in Bitcoin & all we have to do is give up our freedoms. http://t.co/sbWswlp1fO
@bramcohen Take your time, collect your thoughts, then make a long form post. We’ll wait. :-)
RT @State_Internet: Akamai’s most comprehensive report on #cloud #security ever: Q1 2015 State of the Internet Security Report: http://t.co…
@mikeinspace That’s the million BTC question; @21dotco has determined that it’s better to mine. I can’t say myself w/o hard numbers.
@mikeinspace Well, you don’t know how long a given device will be running; it may be simpler to have it generate satoshis as needed.
@mikeinspace That will be up to the device manufacturers to build IoT-style functionality that is useful to the end user.
jgarzik The #bitcoin block size limit -will- be increased, in my opinion.
It’s just a question of when, how and by how much.
@mikeinspace Perhaps; it’s quite hard to speculate as to 21’s profitability without knowing their costs and anticipated mining revenue.
@mauroperetti This is @21dotco’s reasoning, though numbers / algorithms would be nice. https://t.co/VnV41Egp5p http://t.co/ftF018Hjjw
7) There are still many details we don’t know yet, thus much of the discussion about @21dotco is still speculative. Patience!
6) @21dotco hard coding a payout address leads me to conclude that the mining pool will be configurable, otherwise this would be redundant.
5) It’s worth noting the distinction between hard coding a payout address & hard coding a mining (stratum / GBT) server; 21 does the former.
4) Secondly, some are claiming that @21dotco may be in a position to centralize mining further by forcing chips to mine for them.
3) The point of embedded mining is not to earn a profit for the owner of a device, but to generate enough satoshis for the device to use.
2) First of all, let’s be clear that embedded BTC mining is not a for-profit operation like you see with large scale mining facilities.
1) There appears to be a great deal of confusion about @21dotco’s vision with regard to embedded BTC mining. Here’s my take:
@pig_poetry @danlowe @pmccall777 @ddahlke They have a pepper beer; my palate will be pleased :-P
@DavidShares @BTCFoundation Ouch! There’s some good content on that blog, please preserve it!
RT @CodyBrown: “Can I be as great as Elon Musk?” An incredible answer from his ex-wife http://t.co/SXPInEsLVf
@pmccall777 Blasphemy!
@mikestable fart connoisseur https://t.co/3CIlGtDSQA
RT @BitseedOrg: We are the founders of Bitseed, developers of #bitcoin full node hardware. AMA! https://t.co/byg1NCPYla
@kristovatlas @obpp_org Something I’ve realized since then is the problem of mixed P2PKH & P2SH outputs making change outputs more obvious.
@danlowe Wanna go this week?
RT @BitPay: Read our new whitepaper “ChainDB: A Peer-to-Peer Database System.” #Bitcoin #Blockchain https://t.co/wfZhQhucrB
Coming soon to a device near you… pic.twitter.com/92BPnBL7S0
Alas, @BTCFoundation’s free trial is over. blog.bitcoinfoundation.org
@NTmoney It was “block chain” first, though “blockchain” has become more popular. I use “block chain” & believe @NickSzabo4 does as well.
Great idea: IoT + Bitcoin can enable drones to pay you for using your airspace as a shipping lane. https://t.co/ZA5UUpqx1o
Why embed ASICs in every day devices? To build a massively multisymmetrical processing cloud, according to: https://t.co/iICyqsQw4a
RT @StackCareers: BitGo (@bitgo) is hiring http://t.co/5QZQlTk7Va #bitcoin #mongodb
@lightcoin @ryanxcharles Yeah, though it’s hard enough to get consensus about changing a single variable, much less multiple variables. :-/
@HoboJerk @domiwoe @fnxTX @Piotr14Tra @petertoddbtc @ryanxcharles This is true of all democracies. ;-)
@lightcoin @ryanxcharles IDK, I think that’s the first time I’ve heard it mentioned in over a year.
@petertoddbtc @ryanxcharles Depends upon how much control @21dotco has over all of the chips; my impression is that they’re configurable.
@lightcoin @ryanxcharles I’m glad you asked :-) https://t.co/iOPMVgkLJX
@ryanxcharles Who? Link?
@unccs What’s the ETA for posting the symposium videos?
@alansilbert @balajis Can view Bitcoin ecosystem as a distributed startup where anyone who creates value increase value of all our equity.
.@balajis gets Bitcoin. “At 21 we are less concerned with bitcoin as a financial instrument and more interested in bitcoin as a protocol.”
RT @21dotco: A bitcoin miner in every device and in every hand.
https://t.co/0dqBFFAiYr
RT @ErikVoorhees: VeraCrypt (TrueCrypt replacement) now accepting Bitcoin donations: https://t.co/ZH5KBufg8b #security #crypto
(De)centralized Block Chain Scaling - my thoughts on the relationship between scalability and block sizes. https://t.co/iOPMVgkLJX
@mikestable TIL that you can install animated GIF keyboard apps. I suspect that may be relevant to your interests…
@BTCFoundation Your blog appears to be dead… blog.bitcoinfoundation.org
10) If we complete the quest for knowledge, we will be gods. Thus one could also claim that the meaning of life is to strive for godliness.
9) While we don’t know WHY the universe exists, perhaps we exist to compute the answer to that question. Perhaps Douglas Adams was right.
8) There may even be unknown threats to humanity from extraterrestrial organisms & phenomena of which we have no knowledge yet.
7) We have no competitors left on Earth, but there are still existential threats to humanity from our environment… and ourselves.
6) It’s a logical next step for us to create technology to accelerate the evolution of information collection and processing.
5) At this point humans have a good grasp on things we can sense organically and are focusing on understanding those that we cannot.
4) Over millions of years we’ve evolved organically to have better senses for collecting info and better brain power for processing it.
3) The ultimate long term survival strategy for any organism is to collect information to better understand its environment.