Frogolocalypse

10 ms·

31.
by Frogolocalypse 9y ago
Why are you discussing reddit?
32.
by Frogolocalypse 9y ago
Nodes don't mine. There are still many nodes using old client node software. Look. http://luke.dashjr.org/programs/bitcoin/files/charts/softwar... I don't think you really understand the rela
33.
by Frogolocalypse 9y ago
It can be trivially done by the existing miners not committing transactions to the blockchain that they control. Because a single company, bitmain, controls more than 50% of the hashing power of bcash, they would only build on blocks that
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by Frogolocalypse 9y ago
Because you don't understand it. Do you think about the connections between your computer and the server you are reading this page from?
35.
by Frogolocalypse 9y ago
160,000 nodes have a different view than your selective quote, and they control consensus.
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by Frogolocalypse 9y ago
I agree. They should be immediately closed. The problem with them is that crypto is a collision between tech and money. It, unfortunately, brings out the worst part of people wanting to get rich. I like yc because it isn't like that
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by Frogolocalypse 9y ago
It's kind of weird really. They think they can make reality go away because they make sockpuppets and try and force an outcome that will make them rich. By being really loud, and not really understanding how any of the technology wor
38.
by Frogolocalypse 9y ago
? Sure i did. > Nodes even define the PoW algorithm that miners have to employ. Nodes change PoW algorithm and the old miners have expensive loud space heaters. They know this, which is why they didn't follow through on 2x. They
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by Frogolocalypse 9y ago
Decentralized ones are rare. There are lots of centralized blockchains. The centralized ones, with their cheerleaders of pump and dump get rich quick schemes, are constantly trying to convince the unaware that they have the same security
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by Frogolocalypse 9y ago
You fundamentally do not understand how bitcoin works. So let's talk about nodes and consensus as defined in the whitepaper and implemented in nodes. Let's start with the bitcoin white paper ( https://bitcoin.org/
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by Frogolocalypse 9y ago
No. For the record his name is Luke Dashjr. He's a bitcoin developer, as you probably know.
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by Frogolocalypse 9y ago
The nodes validate that the work has been undertaken. Therefore, it is the nodes that police and enforce consensus in bitcoin.
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by Frogolocalypse 9y ago
Nodes define and police consensus in bitcoin, not miners.
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by Frogolocalypse 9y ago
If people don't understand that bcash is under regulatory capture of the chinese government, then they are not understanding how cryptocurrencies work.
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by Frogolocalypse 9y ago
> and original vision Where in the original white-paper is the emergency difficulty adjustment? https://medium.com/@jimmysong/bitcoin-cash-difficulty-adjust... > peer-to-peer If you don't run a node, or you
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by Frogolocalypse 9y ago
> the userbase that bcash has The number of transactions on the bcash blockchain gives a different impression of the 'user base'. If you want a faster blockchain with a larger user base, use litecoin. It isn't as secure
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by Frogolocalypse 9y ago
> The significant part is that increasing the block size steadily 160,000+ bitcoin nodes are not interested in your centralization scheme, whether it is done 'steadily' or immediately.
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by Frogolocalypse 9y ago
paypal works too. I prefer to not record my payments with the chinese government though.
49.
by Frogolocalypse 9y ago
There are lots of altcoins that have low fees. When you are getting a single company to process your payments, it is always likely to be at a lower cost. The only question is why they're even bothering to store the information in a b
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by Frogolocalypse 9y ago
A peer, in bitcoin, is a node. If you don't run a node, or indeed if you can't run a node because of its resource requirements, you aren't a peer. Bitcoin : Peer-to-peer cash. You went right over the first part, and only tal
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by Frogolocalypse 9y ago
bcash handles a fraction of the transactions of either bitcoin or litecoin. If you want a cheap option, litecoin is great. It's been around for years, and isn't controlled by the chinese government. In bcash, the nodes, the dev
52.
by Frogolocalypse 9y ago
You can still run a 0.8 node on the bitcoin network if you are so inclined, because changes have been implemented via soft-forks. Bcash is a hard-fork of bitcoin. It is not bitcoin, or you would be able to use your existing wallets with i
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by Frogolocalypse 9y ago
That's why it was such a compromise. In order to get the massive decentralization and privacy boost of the malleability fix that segwit provided, the blocksize increase was included to give the increase that the classic hard-fork sugg
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by Frogolocalypse 9y ago
https://t4.ftcdn.net/jpg/00/01/72/17/240_F_1721760_5oY3RSyLM...
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by Frogolocalypse 9y ago
It's no more complex than running any other bitcoin wallet. It is, after all, bitcoin. The only difference really is that lightning is instantaneous and immutable, where blockchain transactions require you to wait until a transaction
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by Frogolocalypse 9y ago
Eth nodes are a quarter of what they were nine months ago. Most people can't even sync a node anymore. None of this is a surprise. This is exactly the outcome expected with unrestrained blockchain expansion. Bitcoin is about decent
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by Frogolocalypse 9y ago
I would suggest actually learning how it works before commenting on it. Lightning allows users to take a single bitcoin transaction, and use it over a finite space of time, in order to shift bitcoin back and forth, with no or vanishingly sm
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by Frogolocalypse 9y ago
The difference of course, is that bitcoin isn't a company. And the arpanet turned into the internet. But companies come and go. By your analogy, raytheon owns the internet.
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by Frogolocalypse 9y ago
Because bcash is overwhelmingly run by bitmain, a chinese company, at every point in its service delivery. The miners, the nodes, and now the payment processor are all one chinese company. It is also not surprising that they have specific
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by Frogolocalypse 9y ago
I only accept solutions that don't affect decentralization.

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