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https://twitter.com/aral/status/1068626899964968960?s=21
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Dec 1, 2018 08:14
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Waltzing Along posted:Or the FBI agent got in on monero early and is hoping to cash in. CARL MARK FORCE V
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Dec 1, 2018 12:02
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Alan Smithee posted:CARL How is this not a movie yet?
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Dec 1, 2018 13:05
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It's basically a more boring version of To Live and Die in LA
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Dec 1, 2018 13:13
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Stat for the thread: bitcoin tops out at 7 transactions/second, right? Barclays UK payment acceptance peaked at 1087/second on black Friday and that's just a single country, not worldwide like bitcoin.
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Dec 1, 2018 13:31
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With all those fake hit jobs and general criminal incompetence, I'm thinking of it being characters who think they're in spy game but at like they're in snatch
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Dec 1, 2018 13:38
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Kerbtree posted:Stat for the thread: bitcoin tops out at 7 transactions/second, right? Barclays UK payment acceptance peaked at 1087/second on black Friday and that's just a single country, not worldwide like bitcoin.
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Dec 1, 2018 13:42
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I think bitcoin practically is able to process 4/sec right now, the theoretical maximum is 7/s, and this throughput is not enough to sustain a single sports stadium at peak time even if you did ignore the huge transaction latency.
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Dec 1, 2018 14:25
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Remember transactions are processed when blocks are found and published around every 10 minutes, so the average makes it sound better than it actually is, because it's not a continuous 4-7 tx/second, it's ~4000 max theoretical transactions roughly every ten minutes after which nothing happens while a lot of purpose built hardware around the world wastes a ton of electricity doing simple math tricks. "I want to buy this!" you say in theoretical bitcoinland, "great! wait here because a block was just published so it'll be at least another 9 minutes before your purchase is confirmed," says the clerk and then you sit in down in despair because you're living in bitcoinland.
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Dec 1, 2018 14:45
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The Kins posted:For a global perspective: The numbers on Visa's website are inconsistent due to them being taken at different times, but the latest I've found (in this brochure) claims a capacity of "65,000+ transaction messages per second" for their card processing network as of August 2017. Which is kind of a hard act to follow... So what, we just need 10000× more GPUs.
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Dec 1, 2018 14:48
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kw0134 posted:Remember transactions are processed when blocks are found and published around every 10 minutes, so the average makes it sound better than it actually is, because it's not a continuous 4-7 tx/second, it's ~4000 max theoretical transactions roughly every ten minutes after which nothing happens while a lot of purpose built hardware around the world wastes a ton of electricity doing simple math tricks. "I want to buy this!" you say in theoretical bitcoinland, "great! wait here because a block was just published so it'll be at least another 9 minutes before your purchase is confirmed," says the clerk and then you sit in down in despair because you're living in bitcoinland. It's like someone took the "Frame-Rule" phenomenon in Super Mario Brothers speed-running and said, "let's base a currency on this!"
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Dec 1, 2018 14:48
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right now on ebay people are still paying way too much for these and it's cramping my gpu upgrade plans
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Dec 1, 2018 15:56
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poverty goat posted:right now on ebay Lmao people are paying big bucks for the equivalent of a used car run at redline for several months.
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Dec 1, 2018 16:01
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2002 WRX never raced all highway miles
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Dec 1, 2018 16:04
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if there's one thing we can infer about the seller, it's that he doesn't use that treadmill
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Dec 1, 2018 16:05
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that walmart bag makes me surprised he doesn't just return scam them
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Dec 1, 2018 16:06
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steinrokkan posted:So what, we just need 10000× more GPUs. Nah, the good thing about bitcoin is that even with a billion times more processing power you'd still get less than 7 transactions per second. The old reliable.
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Dec 1, 2018 16:22
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feelix posted:2002 WRX never raced all highway miles 2004 GSXR been laid down once in the drive way, that's why it has all new plastics, bent clutch lever and rear brake, never raced. Won't start for some reason, maybe needs new gas and battery $8000 obo, no lowballers.
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Dec 1, 2018 17:13
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Look, it's very simple. If you want to increase the transactions per second all you need is more blockchains Every point-of-sale on the planet just needs their own Itchy & Scratchy blockchain This is the future of
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Dec 1, 2018 18:24
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Sentient Data posted:With all those fake hit jobs and general criminal incompetence, I'm thinking of it being characters who think they're in spy game but at like they're in snatch that movie already happened it was called Burn After Writing also the coen brothers were writing the script for a movie about silk road, but that may have been cancelled or something because they're doing cowboy tv shows now
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Dec 1, 2018 20:02
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Kerbtree posted:Stat for the thread: bitcoin tops out at 7 transactions/second, right? Barclays UK payment acceptance peaked at 1087/second on black Friday and that's just a single country, not worldwide like bitcoin. Don't worry the lightning ⚡network ⚡ will fix that!!!
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Dec 1, 2018 20:52
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isn't transactions/sec determined by the mining power of the network so now that everyone is junking their rigs, transaction speed will be drastically reduced
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Dec 1, 2018 21:05
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In a way. There's a 'set' number of transactions per block. And the time between blocks adjusts to be consistent as mining power fluctuates. So, what you're describing is part of "frisbee on the roof". But even if mining power drastically increased, the transactions/second would only briefly change, and not by much. Speleothing fucked around with this message at 21:12 on Dec 1, 2018 |
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Dec 1, 2018 21:09
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this reminds me of the new worse host for Extra Credits having an episode about bideogames using the block chain for something and their stupid example was some vendor trash in MMOs or something. Ah yes i want to have my inventory slowdown loading a petabyte sized item description.
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Dec 1, 2018 21:20
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poverty goat posted:right now on ebay I got a 2070 at msrp yesterday. But yea all the 1080s are sold out everywhere.
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Dec 1, 2018 21:26
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So now seems like a good time to buy in low right?
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Dec 1, 2018 21:46
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bird with big dick posted:So now seems like a good time to buy in low right? Yes friend. It’s always a good time to buy.
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Dec 1, 2018 21:48
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The White Dragon posted:isn't transactions/sec determined by the mining power of the network so now that everyone is junking their rigs, transaction speed will be drastically reduced Yes and no. With everybody scrapping their mining equipment, the network will be slower until the next difficulty adjustment. They happen roughly every two weeks (they are based on the number of blocks, so slower mining = longer time until the next adjustment). This doesn't really mean anything, though. And there is no realistic "frisbee on the roof." If half of the miners decide to leave during the same two-week period, it just means blocks will take 20 minutes instead, and transaction "speed" goes down to 2/sec (theoretically up to 3.5/sec). After up to 4 weeks, there will be an adjustment and speed will go (almost) back to normal. The almost part comes from the protocol having a maximum difficulty adjustment built in. Of course, if there's congestion, that means more delay like in December last year, but all transactions happen on exchanges now so eh. tl'dr, Bitcoin will always such at around the same speed.
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Dec 1, 2018 21:48
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Speleothing posted:In a way. There's a 'set' number of transactions per block. And the time between blocks adjusts to be consistent as mining power fluctuates. not quite at the end of every adjustment period, (I want to say its like every 2016 blocks) the network looks at how long it took to process and tries to push it to being every 10 minutes this adjustment is not fixed and is based roughly on the actual amount of power added or removed from the network at the time, however this adjustment is capped you will be forever chasing a specific average # of transactions per second, but if mining power drops, until the difficulty finally stabilizes (which can take more than multiple difficulty adjusments) you will be seeing lower transactions per second over the entirety of that adjustment period (which if difficulty is properly matching computation power should be 2 weeks)
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Dec 1, 2018 21:50
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Isn’t there a way to take my vanguard 401k and make it a self directed 401k and then I can put it into BTC? Thinking of putting 60-75% of my 401k into BTC to ride it back up to 20k and then I’ll cash out and put it back into Vanguard.
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Dec 1, 2018 21:51
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klafbang posted:Yes and no. With everybody scrapping their mining equipment, the network will be slower until the next difficulty adjustment. They happen roughly every two weeks (they are based on the number of blocks, so slower mining = longer time until the next adjustment). The issue is the difficulty only can adjust so much, so if too many leave then it can take several adjustments to get back on par of 10 minutes per block which realistically could be several months and during it all more miners drop out increasing the time and so on.
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Dec 1, 2018 21:55
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bird with big dick posted:Isn’t there a way to take my vanguard 401k and make it a self directed 401k and then I can put it into BTC? Thinking of putting 60-75% of my 401k into BTC to ride it back up to 20k and then I’ll cash out and put it back into Vanguard. Vanguard customer service agents are very knowledgable and helpful. Definitely call them and ask them about this scenario. Better yet, could you record the conversation and post it here in the thread?
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Dec 1, 2018 21:55
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bird with big dick posted:Isn’t there a way to take my vanguard 401k and make it a self directed 401k and then I can put it into BTC? Thinking of putting 60-75% of my 401k into BTC to ride it back up to 20k and then I’ll cash out and put it back into Vanguard. Don't invest 60-75%. Only 50% should go into bitcoin. The rest you want to put into riskier (and higher-yielding) shitcoins. 
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Dec 1, 2018 21:56
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UCS Hellmaker posted:The issue is the difficulty only can adjust so much, so if too many leave then it can take several adjustments to get back on par of 10 minutes per block which realistically could be several months and during it all more miners drop out increasing the time and so on. That factor is 4. Current numbers for mining profitability for bitcoin is ~$4k. If > 75% dropped out, that would decrease to $1k after one adjustment happening at most 8 weeks in the future. I don't think it's very realistic to see that much mining power leave.
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Dec 1, 2018 22:00
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Speleothing posted:In a way. There's a 'set' number of transactions per block. And the time between blocks adjusts to be consistent as mining power fluctuates. Difficulty would be telling the cashiers when the next time they want to process this transaction whether they need to find a nine digit number, or a six digit number or, if there are LOTS of cashiers, with fancy pens and large sheets of paper, twelve and fifteen digit numbers that need to be guessed. That's all the hashwork does. also something something something securing the blockchain something
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Dec 1, 2018 22:02
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klafbang posted:Don't invest 60-75%. Only 50% should go into bitcoin. The rest you want to put into riskier (and higher-yielding) shitcoins. 
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Dec 1, 2018 22:10
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I really wish I had been able to buy puts when that loving iced tea company renamed themselves blockchain for no reason. 
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Dec 1, 2018 22:38
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They made drat good money on that. What's the actual equation bitcoin solves? Like i know it has something to do with trailing or leading zeroes, but how do the miners know that 000013482 is correct, while 000013481 isn't?
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Dec 2, 2018 01:22
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ilmucche posted:They made drat good money on that. I ain't super clear on the precise details, but the difficulty change every 2016 blocks is what determines whether 000013482 is correct
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Dec 2, 2018 01:27
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One of the SHA hash versions of the transaction data plus a nonce, and the leading 0s are of the hash itself in binary form. The random numbers we're talking about are the nonce junk data added to the transaction data in order to manipulate the output of the hash. Since the hash is pseudorandom, there's no simple algorithm to figure out what the nonce should be, so they bash their collective heads against the wall trying (millions? Billions?) random numbers until they get the output they need
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Dec 2, 2018 01:28
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