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Jun 18, 2022 22:25
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trucutru posted:It has, the blocks have limited space so you can only fit so many transactions per block. If the blocks are mined more slowly (less hash rate) the number of available transactions per second will go down. tps doesn't existttttttt it's a fake not real number!!!!!! made by averaging out the number of transactions in a block!! against how long it toooook bitcoin is only transacting in big chunks every ten minutes or so
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Jun 18, 2022 22:28
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Jun 18, 2022 22:30
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the protocol adjusts hash difficulty according to the apparent current hash rate in an effort to try to keep blocks coming at about one every ten minutes. so lower hash rate (more mining hardware) doesn’t actually make blocks come any slower once adjustment is complete on the other hand, that adjustment lags because it’s done once every certain number of blocks. since the period is measured in blocks rather than time, it adjusts faster (measured in real time) when hashrate is increasing and slower when it’s decreasing. so a steep decline in hashrate takes a long time to adjust, especially because downward adjustments in difficulty are also limited in a weak effort to prevent miners from intentionally manipulating the hashrate. this theoretically can put the frisbee on the roof
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Jun 18, 2022 22:34
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owns so hard lol (sound on, degenerates)
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Jun 18, 2022 22:37
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Trying to claw back up over 18,500-19,000.
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Jun 18, 2022 22:42
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Fabricated posted:Trying to claw back up over 18,500-19,000.
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Jun 18, 2022 22:54
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Crust First posted:actually the hashrate has no connection to the transactions per second, no matter how much energy you throw at the system it never gets any faster, it maintains 7tps running on the power of a raspberry pi or a dyson sphere, it's dumb as hell! I took a graduate-level distributed systems course a few years ago. Even after studying that and subsequently passing my Ph.D. qualifying exam in systems, I never looked at how bitcoin worked. I always assumed that they were doing something at least semi-clever to ensure that the system emerged in some sort of consensus state. I could see how, by using proof-of-work, you could just slow the system down enough that updates could propagate in the obvious, dumb way, but I figured, surely they'd do something more clever than like "grad student's first whack at the problem." Last year, once I decided to take a look at how the system worked, I finally realized, no, they don't. I'm not an expert, because, gently caress I can't be arsed to think that hard about goddamn bitcoin. BUT, unless I'm missing something, I finally realized that because they do the stone-stupid, simple thing, you HAVE to keep the transaction rate slow, otherwise you'd never get a system that settled into having a quorum that agreed on ledger state. I still have doubts and think I must be wrong, because gently caress, that's so stupid. DrankSinatra fucked around with this message at 23:06 on Jun 18, 2022 |
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Jun 18, 2022 23:00
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DrankSinatra posted:I'm not an expert, because, gently caress I can't be arsed to think that hard about goddamn bitcoin. BUT, unless I'm missing something, I finally realized that because they do the stone-stupid, simple thing, you HAVE to keep the transaction rate slow, otherwise you'd never get a system that settled into having a quorum that agreed on ledger state. they also just don’t want miners to inflate the living gently caress out of their currency by mining a million blocks a second now you might think “surely they could adjust the block reward by difficulty rather than the hash”. congratulations, you have now thought about this more than satoshi probably did
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Jun 18, 2022 23:07
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Jun 18, 2022 23:07
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DrankSinatra posted:I took a graduate-level distributed systems course a few years ago. Even after studying that and subsequently passing my Ph.D. qualifying exam in systems, I never looked at how bitcoin worked. I always assumed that they were doing something at least semi-clever to ensure that the system emerged in some sort of consensus state. I could see how, by using proof-of-work, you could just slow the system down enough that updates could propagate in the obvious, dumb way, but I figured, surely they'd do something more clever than like "grad student's first whack at the problem." Last year, once I decided to take a look at how the system worked, I finally realized, no, they don't.
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Jun 18, 2022 23:09
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PiCroft posted:I both recognise and appreciate this reference It seemed so wonderfully appropriate.
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Jun 18, 2022 23:11
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DrankSinatra posted:I'm not an expert, because, gently caress I can't be arsed to think that hard about goddamn bitcoin. BUT, unless I'm missing something, I finally realized that because they do the stone-stupid, simple thing, you HAVE to keep the transaction rate slow, otherwise you'd never get a system that settled into having a quorum that agreed on ledger state. yeah I think some altcoins tried to increase the rate but it kept leading to the network getting out of sync
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Jun 18, 2022 23:12
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rjmccall posted:they also just don’t want miners to inflate the living gently caress out of their currency by mining a million blocks a second I always figured the whole idea of rewarding mining the way they do shook out after the fact, once they answered the question of "how do we assign enough busywork to make the system work correctly," and that the inflation issues were just sort of a non-entity once you answer the core consensus question. I get the feeling that "doing the bare minimum to make the ledger work, gently caress everything else," with the properties of the currency just being accidentally-what-it-is is the correct intersection of Occam and Hanlon's Razor. DrankSinatra fucked around with this message at 23:17 on Jun 18, 2022 |
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Jun 18, 2022 23:13
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lol
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Jun 18, 2022 23:16
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Jun 18, 2022 23:25
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Back over 19100. Who turned the printer on?
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Jun 18, 2022 23:28
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FCKGW posted:have you heard the good news? lol 13 bit-coins have donated to that null address
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Jun 18, 2022 23:33
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https://www.youtube.com/watch?v=1nVG8PF4ECU
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Jun 18, 2022 23:37
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just quoting this again and forever
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Jun 18, 2022 23:43
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It's Moipin' time
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Jun 18, 2022 23:45
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What's the music?
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Jun 18, 2022 23:50
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Viscous Soda posted:What's the music? https://www.youtube.com/watch?v=f7wkRET0hbo
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Jun 18, 2022 23:58
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buttcoin is saved diamond hands win again
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Jun 19, 2022 00:04
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I have to say, I really love how
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Jun 19, 2022 00:22
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incidentally i thought about animating something to The Daily Mail, but  https://www.youtube.com/watch?v=e8RwAgOMn48
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Jun 19, 2022 00:29
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Beeftweeter posted:sending all the coins to stovokor Grethor, surely
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Jun 19, 2022 00:33
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DrankSinatra posted:I'm not an expert, because, gently caress I can't be arsed to think that hard about goddamn bitcoin. BUT, unless I'm missing something, I finally realized that because they do the stone-stupid, simple thing, you HAVE to keep the transaction rate slow, otherwise you'd never get a system that settled into having a quorum that agreed on ledger state. there's no technical reason that the transaction rate has to be as low as it is (though getting it to somewhere useful would still likely be impossible), there's a whole lot of bitcoin forks out there that either increased the block size or decreased the block time in order to increase the transaction rate. the issue is just it's politically impossible to improve bitcoin's transaction rate as doing so would hurt miners
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Jun 19, 2022 00:35
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Anticheese posted:Grethor, surely poo poo you're right *worf voice* smart contracts are not honorable
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Jun 19, 2022 00:41
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https://www.youtube.com/watch?v=mOmdg3epcic
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Jun 19, 2022 00:44
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went out to eat and one of the people at the bar was talking loudly about the bitcoin crash and how much money he was losing to the bartender real satisfying day
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Jun 19, 2022 00:56
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lih posted:there's no technical reason that the transaction rate has to be as low as it is
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Jun 19, 2022 01:00
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the hell is a bitcoin
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Jun 19, 2022 01:02
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hell is other bitcoins
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Jun 19, 2022 01:05
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...! posted:the hell is a bitcoin it’s better to not know.
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Jun 19, 2022 01:15
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...! posted:the hell is a bitcoin  coelomate posted:it’s better to not know. 
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Jun 19, 2022 01:22
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...! posted:the hell is a bitcoin A miserable pile of scams.
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Jun 19, 2022 01:26
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Alas, poor Bitcoin! I knew him, Horatio.
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Jun 19, 2022 01:26
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aw man, i was busy doing other stuff today and i missed the main event. still down from the last time i checked so eh, i'll take it
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Jun 19, 2022 01:38
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when I stopped paying attention to this garbage fire 4 years ago, all the problems with bitcoin were due to be solved in 6 months time by the lightning network. so, lol, I guess?
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Jun 19, 2022 01:43
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