Mike, my first use of Bitcoin was in 2009. I wasn't vigorously active in the Bitcoin community until the beginning of 2011, indeed. But this is just a couple months after you (E.g. first code available for BitcoinJ was March 2011-- if you go by forums.bitcoin.org account times my account was created May 5th 2011 vs yours Dec 14th 2010; less than five months after yours). I was also working with related systems long before (E.g. RPOW in 2004). So give me a break, there is no rank to pull here.It was well .... understood that the users of Bitcoin would wish to protect its decenteralization by limiting the size of the chain to keep it verifyable on small devices.No it wasn't. That is something you invented yourself much later. "Small devices" isn't even defined anywhere, so there can't have been any such understanding.
The actual understanding was the opposite. Satoshi's words: [...] Then he went on to talk about Moore's law and streaming HD videos and the like. At no point did he ever talk about limiting the system for "small devices".
I have been both working on and using Bitcoin for longer than you have been around, Gregory. Please don't attempt to bullshit me about what the plan was. And stop obscuring what this is about. It's not some personality cult - the reason I keep beating you over the head with Satoshi's words is because it's that founding vision of the project that brought everyone together, and gave us all a shared goal.
Since when have we "campaigned" to "ignore problems" in the mining ecosystem? [...] Gregory, you are getting really crazy now. Stop it. The trend towards mining centralisation is not the fault of Gavin or myself, or anyone else.For example, you fought vigorously to get Bitcoin Core off Bitcoin.org, which would ensure that users were not previously equipped with a node suitable for operating mining (which then contributed substantially to the poor usability of solutions like P2Pool; with 98% of it's install time spent waiting for Bitcoin Core to sync).
And SPV is exactly what was always intended to be used. It's not something I "fixated" on, it's right there in the white paper. Satoshi even encouraged me to keep working on bitcoinj before he left!The fixation comment was a specific reply to your long list of the "only reasons" to run a full node, which seemed to be basically said that the only reason to run one was to act as a server for SPV clients; as it listed several points on that-- all three of the numbered points were "serving SPV wallets"-- and buried the rest. I'm sorry if I read too much into it, though it's also consistent with your prior responses that the non-scalability of Bitcoin as a whole is irrelevant due to SPV.
Look, it's clear you have decided that the way Bitcoin was meant to evolve isn't to your personal liking. That's fine. Go make an alt coin where your founding documents state that it's intended to always run on a 2015 Raspberry Pi, or whatever it is you mean by "small device". Remove SPV capability from the protocol so everyone has to fully validate. Make sure that's the understanding that everyone has from day one about what your alt coin is for. Then when someone says, gee, it'd be nice if we had some more capacity, you or someone else can go point at the announcement emails and say "no, GregCoin is meant to always be verifiable on small devices, that's our social contract and it's written into the consensus rules for that reason".Now that I've established the "small device" text you're railing on here actually came from the system's creator prior to your involvement, can I expect an admission that your own "personal liking" doesn't have special authority over the system? But I hope you don't create an altcoin: I think it's possible to find ways to accommodate people with very different preferences under one tent, and if we are to build and support a worldwide system we must find those ways rather than fragmenting the marketplace.
Google "bitcoin mining calculator", input your hashrate, and it will tell you how much you can earn right now, on average. Note that the difficulty will change in the future so your earnings will not stay the same. Also note that with most pools actual earnings vary with luck. Finally, avoid the typical newbie mistake of confusing TH/s and GH/s. 1 TH/s = 1000 GH/s. Revival/rebase of #11085 Adds a new command sethdseed which allows you to either set or generate a new HD seed to be used. A new keypool can be generated or the original one kept and new keys added... Moore’s Law works. Storage: 100MB block, always full, is 5TB /yr. 5 TB HD costs <1 BTC. If you were actually filling 100MB blocks every 10 min, a 5 TB HD would be way less than 1 BTC. CPU, RAM: Have you tried v0.10? So fast!! v0.11, pruning? Blockchain down to 1GB!!! Larger Blocks - Big O n2 is not that bad! it’s polynomial! If it were 2n, then it wouldn’t scale While the total network c Bitcoin days destroyed (BDD) was first introduced as a concept in 2011, two years after the creation of the bitcoin cryptocurrency. People were already beginning to develop blockchain metrics to ... ASIC mining rapidly improved until running headlong into Moore’s Law (1 ASIC today = ~212 ASICs first-gen) A comment from Reddit on different hardware types Size of the network today. It is important to note that the absolute rate at which bitcoin is paid out globally does not change based on the number of miners. It is actually determined by a fixed supply schedule. In the early days it was ...
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Thanks for watching! For donations: Bitcoin - 1CpGMM8Ag8gNYL3FffusVqEBUvHyYenTP8 Credit: Chris Cannucciari http://www.admycoin.com Check out our website for ICO info. Check Top 100 Richest Bitcoin Address: https://steemit.com/bitcoin/@adv... For more information: https://www.bitcoinmining.com and https://www.weusecoins.com What is Bitcoin Mining? Have you ever wondered how Bitcoin is generated? T... Bitcoin represents the first working example of Triple Entry Accounting and with it comes the increase in economic activity starting with decentralized currency as part of a new value exchange ... The virtual goldrush to mine Bitcoin and other cryptocurrencies leads us to Central Washington state where a Bitcoin mine generates roughly $70,000 a day min...