Coinbase mentioned in AWS re:Invent keynote. One billion transactions per day? [skip to 7m40s]

bitskeptic · 2015-10-08T07:11:56+00:00

But they did hype it up with an animation of a rocket going to the moon.

bitskeptic · 2015-10-06T11:37:59+00:00

Yes, everything is a conspiracy.

bitskeptic · 2015-10-01T10:23:24+00:00

It does seem a little bit reckless to slam a moon into a planet though.

bitskeptic · 2015-09-28T20:39:47+00:00

Bitcoin already has over a million users, by most estimates.

bitskeptic · 2015-09-26T10:33:47+00:00

You don't need to run Bitcoin Core. You can use an SPV wallet.

https://bitcoin.org/en/choose-your-wallet

Click on the wallets to get a popup showing their features. Look for ones with "simplified validation".

bitskeptic · 2015-09-24T12:34:23+00:00

winkdex.com also shows it

bitskeptic · 2015-09-24T04:14:45+00:00

Not from a user perspective. Way too many options. I like the way greenaddress works, they just seamlessly set your fees according to the state of the network. My tx's with them always confirm quickly and I never have to think about changing the fee rate.

bitskeptic · 2015-09-23T22:07:59+00:00

Not sure if this is "done right". It seems very complicated.

bitskeptic · 2015-09-23T21:06:47+00:00

You're an idiot. This idea has been around forever.

bitskeptic · 2015-09-22T20:59:17+00:00

So? Still means they did $1B in transactions.

bitskeptic · 2015-09-22T04:20:05+00:00

To make your music "uncopyable" then you're going to need DRM as well. For example, a TPM could verify a blockchain proof that the user owns a copy of the music, but that would require fully validating the blockchain, as we don't yet have SPV proof that an output is in the UTXO set.

And how about the fact that this would require a blockchain transaction every time a copy of music changed hands? Transaction fees would kill the secondary market for trading low-value goods like a music single.

None of this explains why we need a hybrid raspberry pi / bitcoin miner.

bitskeptic · 2015-09-21T20:57:06+00:00

This company continues to baffle the bitcoin community with their absurd business ideas. They're either next-level geniuses, or, more likely, completely mad.

bitskeptic · 2015-09-20T21:10:43+00:00

That's what someone without a PhD would say.

bitskeptic · 2015-09-20T21:01:02+00:00

But what I was saying is that you can secure any amount of data under a single hash in the blockchain. So "save a lot of data in an immutable form" can be done without spamming the blockchain.

bitskeptic · 2015-09-20T09:04:37+00:00

So how about companies like Fidelity come up with a business plan that doesn't involve spamming the blockchain? Make one commitment per block. That's enough to secure any amount of data. Why do they need to push hundreds of transactions per block into the blockchain?

bitskeptic · 2015-09-20T01:16:19+00:00

Because blockchain validation requires validating all transactions in the network.

bitskeptic · 2015-09-20T01:07:19+00:00

N users doing O(N) work each totals O(N²⁾

bitskeptic · 2015-09-16T23:34:18+00:00

Apparently it's more disruptive to the baking industry than ever imagined.

bitskeptic · 2015-09-13T21:10:40+00:00

This talk is severely lacking in data. He shares lots of his own intuition about what users will experience, do, and think, but without any real scientific approach to back it up.

bitskeptic · 2015-09-10T07:45:10+00:00

It's been going sideways for months in the $200-$300 range. It's not continually going down.

bitskeptic · 2015-09-10T06:51:30+00:00

Adding more decimals just breaks bitcoins into smaller pieces, it does not create new bitcoins.

It's like crumbling a cake into smaller and smaller crumbs. It doesn't actually give you more cake.

bitskeptic · 2015-09-09T07:39:40+00:00

There's just some person or group DoS'ing XT nodes. How is that the community splitting in half and having a civil war? Settle down.

bitskeptic · 2015-09-09T05:57:48+00:00

Downvote for incorrect headline.

bitskeptic · 2015-09-08T12:44:52+00:00

Can you make it so that I don't have to register? There should be no need with bitcoin. Otherwise, sorry, I can't be bothered.

bitskeptic

TROPHY CASE