How can I limit bandwidth usage in Bitcoin-qt client ...
Bitcoin erreicht sein Limit: Absurde Folgen des Fee ...
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11-10 14:03 - 'Lightning Network: Thousands of TX's per second inside of 4MB? Wow, I guess when you are not using Bitcoin, it doesn't use any of Bitcoin's bandwidth.' (self.Bitcoin) by /u/mrtest001 removed from /r/Bitcoin within 7-17min
We're excited to announce Blockstream Satellite 2.0. This major update includes a new transmission protocol, more bandwidth, a larger coverage area, & the much requested ability to sync a Bitcoin node from the genesis block up to the latest block!
05-16 06:54 - 'How does it make sense to keep the block size this low when the cost of storage and bandwidth has gone down?' (self.Bitcoin) by /u/shinyspirtomb removed from /r/Bitcoin within 782-792min
''' Hello. The blocksize is currently quite low, and as such there's not enough room for transactions. Fees have gone up a bit recently. I was wondering what the argument for keeping the block size this low is? I understand the centralization concerns but if you look at graphs you can see that storage costs have gone down exponentially. Bandwidth costs have also gone down. I don't see any good reason that the block size must be kept as low as it is. A small increase of a few mb would do an incredible amount of good for the network, and wouldn't cause any concerning damage to decentralization. I'd like to hear your thoughts. Why is the block size still this low? ''' How does it make sense to keep the block size this low when the cost of storage and bandwidth has gone down? Go1dfish undelete link unreddit undelete link Author: shinyspirtomb
Is anybody else terrified by the idea of a blockchain-broadcasting satellite?
Blockstream posted this video. Let's assume for the sake of argument that they really have realized Garzik's abandoned bitsat vision. Some claim the satellite is already in orbit. This terrifies me. Satellites and the electrical grid are the textbook examples of market failure due to natural monopoly: they are incredibly expensive, and two of them are much much less than twice as useful as one. [ * ] I'll be blunt: if this death star goes live, people will love it, and it will give blockstream veto power over not just all future changes to bitcoin, but over what transactions get broadcast as well: segwit for the first time makes it possible to decide not to relay parts of the transactions you don't like (specifically, the witness data). A lot of other stuff makes sense now too. Obviously they've been strongly against increasing bitcoin's bandwidth requirements since (all else being equal, like tx power) higher bitrates mean less coverage. And Back's ravings that "the universe will implode if there is ever a hard fork" now appear to be preannouncements of an (imho futile) policy he believes will deter various state actors and spooks from commandeering this influence (it won't). I don't know, I see this whole thing as a huge huge step back from the way the Internet took power out of the hands of the telecoms by routing packets around censoring network links. The cryptocurrency space is about to get thrown back into those dark ages at least until satellites are cheap enough that the cryptocurrency economy can support several dozen of them -- and we're at least a decade away from that (space technology moves at an utterly glacial pace compared to computation). Even then: are we headed towards an era where in order to try out a new idea for an altcoin you have to raise enough money to launch your own satellite? That will get cheaper, but the fact that there are only so many orbital slots out there means it will never be garage-startup-cheap. [ * ] True, we have lots of satellites today, but that's because after 60 years they slowly came down in price. And even today there's hardly any direct competition between commercial satellites -- there are many of them mainly because there are many different orbits and radio hardware payloads. For a given orbit and application it's unusual to find more than one (e.g. there's really nothing else like Iridium the only other LEO networks are much smaller and slower, for analog voice or pager-type data only).
Greg Maxwell in particular, but also Blockstream employees in general, are resolutely opposed to increasing the blocksize, saying that segwit will increase capacity.
Blockstream, and Greg in particular, have used their influence over Bitcoin Core to prevent a blocksize increase that would otherwise have occurred.
Their reasons for doing this have been nonsensical, leading Rick Falkvinge and others to conclude that they have a hidden motive.
Segwit was not requested by the community and is not wanted.
By throttling bitcoin's bandwidth, Blockstream has presented segwit as the only available way to increase capacity.
By throttling bitcoin's bandwidth, Blockstream has cost bitcoin investors and businesses billions of dollars.
Blockstream, and Greg Maxwell in particular, have deliberately caused this situation to occur, causing billions of dollars of losses in investment revenue for hundreds of thousands of investors, to cause distress and force the bitcoin community to accept segwit.
Blockstream, and Greg Maxwell in particular, consciously and with consciousness of wrongdoing (mens rea -- proven by his false exculpatory statements that Blockstream has no commercial interest in segwit) caused these losses to bitcoin investors and businesses for his (Greg's) and Blockstream's unjust enrichment.
Bitcoin holders, miners and businesses have standing to sue Greg Maxwell and Blockstream for losses suffered and to enjoin them to stop using their influence over Bitcoin Core to throttle the bitcoin transaction rate, causing losses of billions of dollars to bitcoin investors and businesses.
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