487700+ entries in 0.305s
williamdunne: danielpbarron: I'm not suggesting
that bitcoin replaces SWIFT just
to be clear.. I just meant because it covers giga+ payments
Adlai: danielpbarron: well,
that can always be
the case... we can decrease
the perceived risk
through simpler code,
testing, and more
time since
the last accidental fork, but yknow, "unknown unknowns"
williamdunne: funkenstein_: Pretty much. I disagree with Gavin because it essentially makes
the blocks infinitely large, but I disagree with some people here because 7tx/s doesn't even cover SWIFT payments
funkenstein_: i
think
the point is more people can use bitcoin at any block size.
danielpbarron: that
the network could still accidentally fork over a bug is
the reason we aren't seeing billions and
trillions invested into bitcoin
williamdunne: Adlai: We're in agreement
there, I'm not suggesting
that we're ever
to put ourselves in a position where blocks are huge and no-one is paying. I'm just suggesting
that 1mb is no way near enough for bitcoin
to be bigger
than it is
today
Adlai: the security is being paid for one way or another; currently,
the main way is inflation
ben_vulpes: williamdunne:
the people i want using bitcoin
take one look at
the source and run screaming, as
they should
☟︎ Pierre_Rochard would vote for “time” as
the strongest impediment
to growth
Adlai: williamdunne: and i would like
to see
the people who _use_ bitcoin paying for its security, rather
than
the people who hold it
danielpbarron strongly suspects
that
the greatest impediment
to growth is cleaning up
the code
☟︎ davout: Adlai:
the bitlicense is
to bitcoin what US raw milk regulations are
to roquefort, not fucking worth
the mention
☟︎ williamdunne: ben_vulpes: I know you disagree, but I personally would like
to see more people/companies/whatevers using bitcoin
williamdunne: Pierre_Rochard: Would it not be preferable
to be in a situation where blocks are routinely filled at low-ish fees.
Adlai: oh i know how we can
turn reddit against gavincoin...
the blocksize limit is good for changetip!
ben_vulpes: <williamdunne> But does seem like
the block-size will need
to increase at some stage(s) if we're
to continue growth << dude again with
this growth bugaboo
Pierre_Rochard: williamdunne: I agree, demand destruction is part of revenue maximization, pushes
the hoi polloi onto off-chain alternatives
funkenstein_: high
TX fees also compete with off chain solutions
Adlai: davout: both gavincoin and
the bitlicense are clouds on
the horizon. some people sell coins for raincoats and umbrellas...
though
they may be wiser
to stick a wet finger in
the air
williamdunne: Pierre_Rochard: But also makes it less appealing. Security isn't
the only objective
Pierre_Rochard: williamdunne: yes, supply inelasticity meets demand inelasticity -> high
transaction fees -> high hash rate -> maximize security
williamdunne: But does seem like
the block-size will need
to increase at some stage(s) if we're
to continue growth
☟︎ assbot: Logged on 24-04-2015 18:50:38; Pierre_Rochard: (having uncertainty around it alone increases
the npv discount rate)
assbot: Logged on 24-04-2015 18:51:37; Adlai: let's say
that i'm equally worried about gavincoin and
the bitlicense
Pierre_Rochard: williamdunne: it’s
the same as saying your internet provider can continue charging you
through
the nose and you’ll continue
thanking
them for
the privilege - inelasticity of demand
assbot: Logged on 24-04-2015 18:45:19; Adlai:
the nice
thing about reducing blocksize is
that
the N largest miners could just agree
to not produce larger blocks, and
that would raise
tx fees
through market forces
☟︎ williamdunne: Pierre_Rochard: In fairness
thats about
the same as saying my internet speeds
today aren't affecting my ability
to do
things, so it won't in
the future.
Pierre_Rochard wishes
those advocating for larger block size limit realized
the current limit is having _zero_ effect on adoption/price and
that will continue
to be
the case for a while if not forever
Adlai: let's say
that i'm equally worried about gavincoin and
the bitlicense
☟︎ Adlai is increasingly skeptical regarding
the relevance of gavin's blocksize plans
Pierre_Rochard: (having uncertainty around it alone increases
the npv discount rate)
☟︎ Pierre_Rochard: I
think it’s an issue
today if we
take into account NPV calculations - if gavincoin has zero future fee revenue,
that has an immediate effect on
the expected return of mining over
the long run. Not sure
that it would move
the needle on
today’s asic capex
☟︎ Adlai: let's see what happens in a halving or
two :)
Adlai: bitcoin inflation relative
to fiat prices is high enough
that it's a non-issue... atm
assbot: Logged on 21-01-2015 18:35:01; gavinandresen: Pierre_Rochard: if Satoshi hadn’t slapped on a 1MB blocksize limit, would you be lobbying for a hardfork now
to impose one?
Adlai: the nice
thing about reducing blocksize is
that
the N largest miners could just agree
to not produce larger blocks, and
that would raise
tx fees
through market forces
☟︎ Adlai: hashrate dropping
too low -> need
to increase mining subsidy, either by raising btc/fiat, or increasing
tx fee competition
☟︎ assbot: Logged on 23-04-2015 16:16:55; mircea_popescu: we might well discover
that actually 1mb is way
too much, and all we can afford is less.
assbot: Successfully unrated
thickasthieves
assbot: Successfully updated
the rating for chetty from 1
to 2 with note: Met IRL, Eulora development.
assbot: Successfully added a rating of 1 for mthreat with note: Met IRL, built #bitcoin-assets search
tool.
assbot: Successfully added a rating of 3 for hanbot with note: Met IRL, MPOE-PR, author of award-winning 'Shall Be Delivered', provides
tenacious exposure of scammers.
assbot: Successfully updated
the rating for mike_c from 1
to 3 with note: Met IRL, runs btcalpha.com, built new WoT
tool
assbot: Successfully updated
the rating for asciilifeform from 2
to 3 with note: Met IRL, S.NSA, outstanding work for
The Bitcoin Foundation, created portatronic project and runs loper-os.org
assbot: Successfully updated
the rating for ben_vulpes from 3
to 4 with note: Met IRL, Bitcoin Foundation Co-Chair
assbot: Successfully updated
the rating for mircea_popescu from 5
to 6 with note: Met IRL, Owner/Operator of MPEx,
Trilema, #bitcoin-assets: Always professional & helpful!
mod6: !unrate
thickasthieves
mod6: !rate mthreat 1 Met IRL, built #bitcoin-assets search
tool.
mod6: !rate hanbot 3 Met IRL, MPOE-PR, author of award-winning 'Shall Be Delivered', provides
tenacious exposure of scammers.
mod6: !rate mike_c 3 Met IRL, runs btcalpha.com, built new WoT
tool
mod6: !rate asciilifeform 3 Met IRL, S.NSA, outstanding work for
The Bitcoin Foundation, created portatronic project and runs loper-os.org
mod6: !rate mircea_popescu 6 Met IRL, Owner/Operator of MPEx,
Trilema, #bitcoin-assets: Always professional & helpful!
Pierre_Rochard: leftists speak of financialization of
the economy over
the past ~40 years, seems as
though
this new era is
timeshareization
Pierre_Rochard: re msft: “Sales of Office 365 Home and Personal subscriptions were up 35 percent sequentially” <= people can’t afford
to “own” office anymore,
they rent it one month at a
time
mats: what are you doing
to
trigger an HBO infringement notice?
try
to catch some GoT on
TPB?
nubbins`: this is like being arrested by a cop with a
tin badge
☟︎ nubbins`: is it SOP for
the sig
to be invalid?
mike_c: hehe. it's kakos all
the way down.
assbot: Successfully updated
the rating for kakobrekla from 3
to 4 with note: expert infrastructural welder. holds up
the sky.
assbot: You rated user kakobrekla on 12-Apr-2014, with a rating of 3, and supplied
these additional notes: maker of high-quality spammicide..
assbot: Successfully updated
the rating for mats from 1
to 2 with note: reverse engineer. historical researcher.
assbot: You rated user mats_cd03 on 20-Jun-2014, with a rating of 1, and supplied
these additional notes: voice.
assbot: You rated user mats on 20-Jun-2014, with a rating of 1, and supplied
these additional notes:
temporary voice.
nubbins`: that's what
the lady said
to
the sailor
mike_c: yes, kako dumps
the DB daily and I suck it up.
assbot: Successfully added a rating of 2 for asciilifeform with note: capable wizard, does
things
nubbins`: !rate asciilifeform 2 capable wizard, does
things
assbot: Successfully added a rating of 3 for assbot with note: can hardly not
trust him
nubbins`: aww,
they have
their own infringement XML schema
nubbins`: ^ lelelel
there's ONE google result
williamdunne: nubbins`: Wait, did you have
to
type in
the PGP sig?
nubbins`: asciilifeform unfortunately, sprayed-on PGP indicates
to me
that
this email is fraudulent
nubbins`: well,
they come "pgp"-"signed"/
pete_dushenski: nubbins`: i heard about
these being sent out. didn't know
they came pgp-signed!
danielpbarron: i had
to look
that word up. seems
to mean "warehouse keeper"
☟︎ assbot: Successfully added a rating of 2 for danielpbarron with note: pogoplug
tester for
therealbitcoin. enthusiastic hunter of lamers. plus a player of actual 'sokoban' in meatspace.
nubbins`: of note:
the
text of
the notice was PGP-signed
☟︎ assbot: Successfully added a rating of 1 for nubbins` with note: pogoplug
tester for
therealbitcoin
assbot: Successfully updated
the rating for davout from 1
to 2 with note: met in
the flesh. fearless French aeronaut.
pete_dushenski: williamdunne: not at all. and nor do i. just
that
the context has never and will never be evenly distributed. so no averages. so no predictions. no 'over-represented'
☟︎ assbot: You rated user davout on 22-Apr-2014, with a rating of 1, and supplied
these additional notes: human!.
williamdunne: pete_dushenski: I'm not suggesting I have any issue with it, if
thats what you mean
assbot: Successfully updated
the rating for hanbot from 1
to 3 with note: had
the honour of meeting in
the flesh. author of 'shall be delivered.' guiding light from beyond
the barbed wire.
pete_dushenski: williamdunne: you have no business over
there in
the first place