@flyosity Save that one for her high school virtual reality hall of memories.
@_vjy Sure - but a lot of user frustration is due to the threshold for “spam” constantly changing and wallets not handling it gracefully.
@GreggDourgarian @ryanxcharles DoS attacker can’t run it forever - the resources aren’t free. They just angered node operators.
The denial of service attack against Classic nodes over the weekend appears to have backfired. pic.twitter.com/jBPYWFZbLc
@bergalex Eh? I don’t recall anyone claiming that it would be smooth sailing through new economic waters.
@SouperNerd Hm, I’m not sure there has historically ever been a fee market such as this… but I’m not an economist.
RT @BitGo: Experiencing stuck bitcoin transactions? Don’t know why? Read @lopp’s excellent post on the subject: https://t.co/Zh0KX0JqV3
@WhalePanda @SouperNerd Onus is on the wallet devs to fix their software.
@WhalePanda @SouperNerd Yes, I’ve been saying that for months. But there’s no way to simply alert every Bitcoin user.
@WhalePanda @SouperNerd Users with wallets that set default fee as 0.0001 BTC are SOL; it’s not necessarily “spam.”
@MrHodl @SouperNerd I don’t think it’s users being miserly so much as wallets not handling the fee market more gracefully.
Signs of fee market frustration on /r/bitcoin pic.twitter.com/c7CSqWdYGf
@kristovatlas Well, you know with whom you can take up that concern!
@kristovatlas Indeed; it’s supposed to encourage people to think!
@fluffyponyza It’s one of the most common “reasons LN will fail” responses I got yesterday after my LN article.
If you think the Lightning Network is doomed because all routing nodes will need AML/KYC, you’re not cypherpunking hard enough.
@netkn0t “should” according to the market perspective - if we build systems with lower costs & fees, hopefully will incentivize adoption.
Happy Leap Day!
Mempool size is 28MB
Avg fee is 14 satoshis / byte
Recommended fee is 40 satoshis / byte
Seeing 5+ tx/s - mempool is growing
@netkn0t It’s not always good or bad, I’m just saying people have become conditioned to paying fees as percentages of value transmitted.
@netkn0t The fee to send value should be connected to the cost to send value. Which it is in Bitcoin, but not in traditional networks.
The Internet’s success wasn’t dependent upon users understanding its technical underpinnings. This will hold true for Bitcoin & Lightning.
@girevikcap @oleganza @ajtowns Vote with your money - move your coins to wallets with dynamically adjusted fees.
RT @masonic_tweets: My thoughts on the Satoshi Roundtable https://t.co/N0vcYMBUcm
@zack_bitcoin @coindesk Sounds to me like the goal is for each router to only know the hop before & the hop after. https://t.co/CiTLKqEyTV
@FEhrsam My analysis of Lightning Network: https://t.co/6xePXRtohn
RT @coindesk: Lightning’s Balancing Act: Tech Challenges Face Bitcoin’s Scalability Savior https://t.co/KtiRv9gDkY by @lopp https://t.co/8T…
Someone’s being naughty & maxing out bandwidth by requesting large blocks in a loop. And they have a message. pic.twitter.com/pek9iE0wwl
@Benathon @Technom4ge It’s possible if you are spending a lot of low value outputs, creating a transaction with a large data size.
Explaining “high fees” to users who collect dusty outputs generally doesn’t make them happier. Lightning Network will enable us to fix this.
Bitcoin fees being disconnected from value sent is great when you can send $1,000,000 for $0.10 but not so much when sending $10 costs $3.
@morcosa Hm, but shouldn’t all 0.12 nodes be affected roughly the same? None of my others saw this spike - did any of yours?
mikebelshe Been blogging for 10yrs. First time I got DDoS’d is after my block size posts. What does this tell us?
RT @khannib: Bitcoin blocks are fuller than ever. https://t.co/nEraQqztZT https://t.co/ai53l7dmtr
Fun @ethereumproject stats:
3.9% of all ether is stored in contracts
13.3% of all ether is held by @Poloniex https://t.co/3fKvxpB7L2
n1ckler Ethereum app post-mortem shows how simple contracts can contain subtle bugs due to gas limits
kingoftheether.com/postmortem.html
@morcosa My statoshi node jacked up 2 block target fee estimate 12 hours ago but other nodes still show 44,000… https://t.co/vQ3H6QiBQp
On the other hand, the Bitcoin API has 99.98989% uptime and will not be turned off. https://t.co/mDbsuR1HHa
RT @bitcoincoreorg: Announcing the first successful Zero-Knowledge Contingent Payment (ZKCP) on the Bitcoin network https://t.co/WAWsFlCU36
I tried to close my unused @eBay account (in good standing) b/c @openbazaar is coming soon, but they won’t let me… pic.twitter.com/kaDuhV7dFV
Satoshi_N_ Roundtable has started. Some are angry that there’s only one fork.
I knew I should have bought silverware. There’s plenty China though.
@Satoshi_N_ Oh my, are you pulling an @Excellion?
@aantonop Thanks; I don’t get much feedback on it - feel free to request new stats via the github repo!
aantonop @lopp Today on our MOOC session, I mentioned statoshi.info as a very useful site for statistics. My students loved it!
@FEhrsam I agree; stay tuned for my @coindesk article tomorrow in which I will cover many of these challenges and offer hope for solutions!
RT @mikebelshe: Want more transaction capacity in bitcoin? The miners are ceding their vote to https://t.co/88ilrzcgZt in 2016. https://t…
@el33th4xor Yeah, users can open imbalanced send-only channels, but how to open a balanced channel funded by counterparty is a big quesion.
@el33th4xor LN devs seem to be focusing on privacy as a fundamental feature; what are your concerns?
@ChangeTip Signed up for your wallet & it said I should join your Slack. But your Slack restricted the email domains for signups.
@BJTortorich @aantonop I’d recommend localbitcoins or mycelium local trader if you want anonymity.
@aantonop And now you know why: https://t.co/vvsQnq9lVJ
Bitcoin Classic has released their 2016 technical roadmap: https://t.co/V0rxy72WIi https://t.co/h68DlhKzF4
@flyosity I forsee a new pinned tweet: “I AM NOT MIKE RUNDLE!”
At we hit block 400,000 the miners are racing to get the last of the 25 BTC block rewards; 19 weeks remain! pic.twitter.com/w8EGHWeaqU
muneeb Introducing Blockstack, decentralized DNS for blockchain applications: blockstack.org pic.twitter.com/I9RPTBSwf8
RT @googledocs: Use your voice to type, edit and format in Docs—no keyboard needed! https://t.co/lRcWNyMybF #GoogleDocs
https://t.co/qRA1Xg 
@GitKilbert To be clear, I mean “large” in terms of data size, not necessarily value. Those fill up blocks faster with fewer txns.
@GitKilbert No idea; that would require in-depth blockchain analysis - I’m just looking at the network traffic.
The memory pool is even more backed up than usual today because someone is spending a lot of inputs in large txns. https://t.co/y4QDDzKpMa
@kallerosenbaum Some of that could be related to the fact that it loses the 120 peers when restarting; we’ll see if it creeps back up.
socrates1024 The Honey Badger of BFT Protocols eprint.iacr.org/2016/199
I’ve updated https://t.co/HN6b9OKPvS to Bitcoin Core 0.12. Noticeable speedup with transaction validation functions: https://t.co/zflpcbIHds
@kristovatlas Indeed, I argued that a minimum specification is critical for making scalability changes to Bitcoin. https://t.co/4XYdmZr0mW
If you’re using @bitcoincoreorg’s fee estimates, be aware that they will be higher in 0.12 b/c confidence threshold was raised to 95%.
@TradeBlock did you make some UI changes on your ‘live’ bitcoin page? I’m having rendering issues in multiple browsers.
@alex Well, Classic seems unlikely to get miner support for a fork, so we’ll see if it can maintain a healthy project with other features.
Triangle Bitcoin & Business meetup will have great speakers this year. Next up: @shannonNullCode of @RibbitRewards! https://t.co/tAyOsRuFyi
@abarisser @ryanxcharles Negative interest rates mean we should all just give up?
Who needs encryption when you can just use a portable cone of silence? pic.twitter.com/jqTgV50AAu
@drwasho Indeed, we’ll see how it plays out.
Soooo… T-minus 16 months ‘til Bitcoin hard fork? https://t.co/hIKFPGuUif
RT @kristovatlas: I’ve created wallet-simulator to give data analysts real world data about Bitcoin wallets. https://t.co/7h3oB2cDyX
Sounds like a job for @brave! Hey @wired, how about instead of $1 week, a nickel per article read? https://t.co/TjVVtvcI2I
@MyceliumCom Are your testnet servers operational? I haven’t been able to send txns for days…
Cypherpunks saw this coming decades ago. It would also be a mistake to trust corporations. https://t.co/KA7byo1vn7 https://t.co/fICVcos4gE
@thebitledger @kristovatlas Indeed, though for average user “better” means “it just works.”
@thebitledger @kristovatlas You could argue that we have “dumbed down” the Internet in order to achieve mainstream adoption.
@kristovatlas I think it shouldn’t be a user decision unless it’s under some ‘advanced’ options.
@morcosa My 0.11 nodes are showing fee estimate target for 2 blocks to be 25 satoshis / byte while 0.12 shows 44 satoshis / byte. Ideas why?
Great analysis of the bitcoin transaction fee landscape by @ajtowns https://t.co/PLEc0gzVZJ https://t.co/rGxK6og0VZ
@ChristaMClark Sure; check out how we use it at @BitGo: https://t.co/MJaTmbVQeF
@ChristaMClark For creating documentation? Slate seems to be quite popular: github.com/tripit/slate
Just another blockstormy day on testnet. At this rate we’re going to hit block 1,000,000 in a matter of weeks. pic.twitter.com/aB0K07L6OC
RT @ErikVoorhees: BitGo integrates ShapeShift natively in the wallet. Users can send or receive any kind of digital asset… https://t.co/…
Watching Liberals fight Conservatives: boring.
Watching Silicon Valley fight the Paper Belt: fascinating.
@aantonop Currently dealing with some database performance issues.
@jbeardsley Anything that can be used by criminals cannot be offset by non-criminal use cases!
We must ban privacy because it can be used by criminals! https://t.co/QRwDkB0ot0
balajis The inverse of an early adopter is an early rejecter. Natural habitat? Hater News. Rushes to the front of any event to throw tomatoes.
@metamatterNL Indeed, there are 3 separate implementations being developed in parallel.
Just like w/BTC, naysayers are finding many reasons why Lightning Network won’t work. But devs only need to find 1 implementation that does.
@NewbergNate Good point; I recommend 2 GB of RAM. Looks like @Synology CPUs are faster than @Raspberry_Pi so any should be fine.
How to run a Bitcoin node on a @Synology Disk Station in just 3 steps: https://t.co/GMKtv1e4a0
SCOTUS is necessary because legislators write code that
* doesn’t handle edge cases
* conflicts with other code
* isn’t platform independent
Happy Valentine’s Day! pic.twitter.com/0qRbnS9Wgm
@brianchoffman @openbazaar And who needs the Internet when we already have stores that sell things?
@kristovatlas I have a feeling that @21 will embrace Lightning once it’s ready, not try to compete with it.
@IanAdAstra There have been ponzi schemes that used cryptocurrency, though I can’t recall any cryptocurrency that itself was a ponzi.
John Ratcliff explains Lightning Network for those of you who don’t have degrees in Cryptography & Computer Science: https://t.co/OI8qXZ4ADG
@brianchoffman It’s not too late to rebrand to “OpenBizarre”
If entities try to exert legal pressure upon cryptocurrency devs, I suspect that they will stop developing and “Satoshi” will return. ;-)
@kristovatlas Basically, could add any additional attributes of CNode here: https://t.co/5G7inaTzdw
@kristovatlas Doesn’t to user agent since that could get messy & statsd doesn’t allow spaces in metrics. I could gauge nVersion…
RT @el33th4xor: Welcome to the Pirate Bay of Science https://t.co/bQKNJbPuKF
@matthew_d_green @ncardozo You could argue Bitcoin is already illegal because the blockchain contains illegal content. Bitcoin doesn’t care.
@MrChrisEllis “resulting new currency” is a stretch given that the vast majority of UTXOs are valid on both chains of the fork.
At a “hack the law” meetup. Attorney: “smart contracts may not be smart and probably aren’t contracts!” pic.twitter.com/iAMNIlbIMt
@badslinky True, though people downplay the difficulty in trading tokens between different forks of same chain since most are valid on both.
paulg It’s a lot more rewarding to bet against conventional minded people than to try to convince them.
Today we measure ripples in the fabric of spacetime.
Tomorrow we manipulate the fabric of spacetime.
.@BigchainDB looks pretty cool, though to be clear it is a permissioned system. https://t.co/PZAlNKP3RI https://t.co/NR63qBgXCb
@WIRED @a16z @CadeMetz “@coinbase was among those who loaded the code onto its miners” I think you mean into its nodes. Doubtful they mine.
@bramcohen @brian_armstrong Welcome to crypto anarchy :-)
@badslinky It’s about walking the walk as opposed to just talking the talk. Node operators back up their words with enforcement.
Theft via inflation: no problem!
Theft via negative interest rates: we’re working on it! https://t.co/qUcFMZ6FZx https://t.co/R5yLX3ysDs
@kristovatlas Not really; nodes have the final “say.”
@kristovatlas Enables you to actually enforce the rule changes you want.
If you participate in discussions about Bitcoin protocol changes but don’t run a full node then you’re not the signal, you’re the noise.
BitGo Almost hacked: Real world story about one of the many ways BitGo can save you in a tough situation. ow.ly/YaWC0
@mattblaze IBM has a team of engineers working on IoT + blockchain for security + smart contracts for selling sensor data.
@emilepetrone @Piotr14Tra Don’t expect the government to update its laws to match reality ;-)
@Piotr14Tra The car would know what legal jurisdiction it is currently in and apply the appropriate laws accordingly.
Autonomous cars will likely be programmed to obey all traffic laws. Will they refuse to move until passengers fasten seat belts?
Bitcoin Classic dev team says they intend to work on faster block propagation and validation https://t.co/odqoOGiYax https://t.co/vCcBxOCLpo
@aantonop Have you tried @brave? https://t.co/Ma6G6i0kCE
@TradeBlock I think your mempool stats are off - size went down during long block times today & you’re showing 0.00 transactions per second.
@kristovatlas @kyuupichan Could it be APM? https://t.co/BPPtts07o2
@Recode @desantis @verge @benpopper “The larger the block size, the more computing power is required to mine blocks” Nope, not that simple.
@Recode @desantis @verge *sigh* there are multiple development teams now but no, @benpopper, a hard fork has not (yet) occurred.
Taking the @brave browser for a spin - it gracefully sidesteps the incredibly annoying anti-adblocker wall at Forbes. ðŸ’ðŸ’ðŸ’
@kristovatlas Never had that happen with my full indexed nodes - you could try to directly connect to a trusted peer… or open an issue.
@kristovatlas And you’re many blocks behind the tip?
@kristovatlas Yeah, I’d try that first.
@kristovatlas You saying QT is slow but bitcoind isn’t? Is CPU busy? Syncing should only be slow if you’re unlucky & connect to slow peers.
Bitcoin Core just opened door for hard forks by declaring a 2 year end of life on releases. https://t.co/6t2KhIpCGR https://t.co/9KvjhSUtQJ
@jerrybrito Clockchain is surprisingly accurate given that the blockchain’s primary purpose is timestamping and ordering of transactions…
@masonic_tweets What % of a company do VCs want in return for a decade of runway?
masonic_tweets We have a misallocation of resources problem in Bitcoin. Everyone wants to work on the really difficult problems needed in 10-20 years
@masonic_tweets Uh… @21? :-)
@ziggamon Thus, business models relying upon smaller txs have inherent long term risk.
@ziggamon You could argue that “settlement” txns are safest from the economic effects of scaling the system while smaller txs are riskier…
@desantis Oh, I’m in the middle of my next article. Targeting end of the month.
@masonic_tweets Could be the “Fidelity Problem” all over again - LN can enable new use cases that aren’t even viable on-chain.
If Lightning Network creates enough demand for new classes of micropayments, it could more than offset former on-chain txs that move to LN.
Lightning Network’s effect on scalability will depend on # current on-chain txs that move to LN vs new LN txs that can’t be done on-chain.
I worry Lightning Network may be a victim of its own success if it creates huge demand for on-chain transactions to open & close channels.
@adam3us @reddit that post appears to be by /u/jensuth, which I assume is meant to be a parody of @junseth
@gigq @ncpolicelogs @Bitcoin_Win ha, what does that even have to do with Bitcoin…
Disappointing to see @Forbes publishing factually incorrect articles based completely off a random @reddit post. https://t.co/vucwABpnzK
If your wallet doesn’t use dynamic txn fees, you’re either overpaying or getting slow confirms. @BitGo gets you the most bang for your bits.
@taariqlewis I thought about it, but then I read the terms & conditions. Is ETH still trading below the crowd sale price?
Bitcoin Core developer @TheBlueMatt proposes a post-Segregated Witness hard fork: https://t.co/51zVp1RxV4
@Magnus919 lol overheard@bronto!
@shannonNullCode Hope you can come to this: https://t.co/zXAUK8zSoe
For the cost of the Afghan & Iraq wars ($4+ Trillion) the United States could have built 1,000 copies of One World Trade Center ($4 Billion)
@Justin_Salmeron here’s the trading gig I mentioned https://t.co/CO81EZFe7v
@starkness @SwiftOnSecurity @el33th4xor Lightning Network or bust
In open source software development a functional pull request == proof of work.
RT @malgorithms: Introducing the Keybase filesystem: https://t.co/amh2Ng0CZG
RT @orweinberger: My #blockchain query service https://t.co/NTmYRwCDPT (α), currently covering 2009-2012 txs, looking for sponsors so I can…
@kristovatlas I think this pretty much sums up said article: pic.twitter.com/omDGBFJBmJ
@MadBitcoins @MrChrisEllis Since @port8333 stopped selling ODROID-C1+ bitnode, I suggest making a C2 version. OSS: https://t.co/f9dWowlZJD
ODROID-C2 blows the Raspberry Pi 2 out of the water at same price point; will need to test it out as a Bitcoin node. https://t.co/10Bqr92R1w
@pierre_rochard @BitGo My understanding is that Core’s long term plan is 3 projects: consensus, node, & wallet.
By my count it looks like Bitcoin Core 0.12 is up to 128 configuration options. https://t.co/To8zW5t3K3
Recruiting messages for engineers with blockchain experience has picked up in the past 3 months. Feels like noSQL / cloud computing in 2010.
@minajati UTXO commitments will allow you to verify the UTXO set at a specific block height
@minajati At this point you still need to download the blockchain, then it deletes the old blocks. In a few years you may not need to :-)
If you operate a Bitcoin company and don’t offer bug bounties, you just haven’t realized it yet. https://t.co/BPBdhVSoTR
@markcross v0.12 also includes new rules that limit the number of transactions in the memory pool. https://t.co/szqisr6Pv1
@ErikaForPres I tend to agree; first world citizens already have decent financial infrastructure available to them.
FYI if you only use Bitcoin Core as a wallet: v0.12 supports wallet functions in pruned mode. This reduces disk usage from ~60 GB to ~2 GB.
@adam3us It’s actually against Reddit’s rules to ask for upvotes because Reddit is susceptible to Sybil attacks :-)
If my calculations are correct, @HillaryClinton had a 1.56% chance of winning all six coin flips in Iowa. https://t.co/YXfUjKMsQI
Interesting proposal to enhance oracles for smart contracts by @RibbitRewards @shannonNullCode https://t.co/PQCfSfRw3e
@adam3us @Satoshi_N_ Right - at the moment only 10%-20% of my node’s peers are SPV clients. Hopefully we can maintain a socket surplus.
@SDLerner Seems massively deprioritized; my node doesn’t have data to provide any estimates for targets < 19 blocks.
Running Zcash. Took me 4 min to pour a txn. https://t.co/eCgqWbziNt
Get testnet zcash here: https://t.co/q0uAZs5kZP https://t.co/dgCOSwWvfq
@badslinky I agree, I think I’d have to write a separate script that updates a conversion metric in statsd…
The details of how @zcashco intends to securely generate the public parameters for Zcash. https://t.co/z9LfXPKIEy https://t.co/uaNwB2nq0w
@mdotfallon It’s a dilemma because any threshold under 100% could be argued by the minority as facilitating tyranny of the majority.
@xchrisnoonanx @barrysilbert @Melt_Dem Same could be said for setting a 51% threshold :-)
Looks like high priority txns stopped being mined in short timeframes last November, breaking bitcoind’s estimates. https://t.co/GFd2Woa4i5
@morcosa Ah, I only checked up to 10. Looks like it was able to estimate priorities for lower targets up til Nov. https://t.co/GFd2Woa4i5
@morcosa are tx priority estimates deprecated? Seems like all my nodes return -1 for every priority estimate now.
@barrysilbert @Melt_Dem Probably worth noting that the 75% consensus number is not universal and is, in fact, quite contentious.
RT @a_greenberg: Corrupt Silk Road Investigator Re-Arrested Trying to Flee US https://t.co/DQlyk4xNEh Carl Force is no longer the craziest …
Who will be the first to bring anti-eagle drone tech to market? https://t.co/MAOvNq7qG6
Mempool getting backed up? No worries, just solve 6 blocks in 10 minutes and it’ll clear right out. pic.twitter.com/ywcTeh9U2w
Even if you don’t use it directly, a full node services SPV clients and makes it harder to shut down the network. https://t.co/13zSuwXBtK