The below is an off-site archive of all tweets posted by @lopp ever

June 2016

@cguida6 @TradeBlock That’s the default, but miners could hold them longer /or/ the sender can just rebroadcast them.

via Twitter Web Client in reply to cguida6

@AriannaSimpson Did you ever write about your Tesla incident?

via Twitter Web Client

US national average is 1 fatality per 100M miles driven.
Tesla autopilot is at 1 per 130M & will certainly improve.
teslamotors.com/blog/tragic-lo…

via Twitter Web Client

@rubensayshi @JihanWu @kristovatlas Of course; post was labeled FUD and locked fairly quickly.

via Twitter Web Client in reply to rubensayshi

@JihanWu @kristovatlas Ha, I see what you did there. But I think the main question is if there is much support for this proposal.

via Twitter Web Client in reply to JihanWu

@maraoz I’m not, but I don’t understand it that well. Seems like a massive undertaking.

via Twitter for Android in reply to maraoz

@masonic_tweets @maraoz @TuurDemeester Funny thing about TA is that TA may reinforce itself. Self fulfilling prophecy feedback loop?

via Twitter Web Client in reply to masonic_tweets

@maraoz @TuurDemeester Because Bitcoin can’t stand still, so if it does go sideways for long enough, you know it has to move?

via Twitter Web Client in reply to maraoz

@gigq @flyosity I’ll never forget to install the motherboard case standoffs again.

via Twitter for Android in reply to gigq

bradheath Fun 4th Am. fact: To challenge gov’t search of a box of drugs, you must first claim that it’s *your* box of drugs. pic.twitter.com/AcYhLmrOsy

via Twitter Web Client (retweeted on 11:31 PM, Jun 29th, 2016 via Twitter for Android)

bradheath UPS “reserves the right in its sole discretion to open and inspect any package tendered to it for transportation.” pic.twitter.com/BRYkS9iLk2

via Twitter Web Client (retweeted on 11:30 PM, Jun 29th, 2016 via Twitter for Android)

The mempool is so empty that BitClub Network just confirmed a bunch of 9 month old low fee UTXO consolidation txns. tradeblock.com/bitcoin/tx/e51…

via Twitter Web Client

WayneChain is always correct because transaction errors are fixed via time travel! twitter.com/Wayne_Chain/st…

via Twitter Web Client

@washingtonpost @pmarca Technology keeps advancing & the new models are more exciting every year! I’m still waiting for blaster pistols…

via Twitter Web Client in reply to washingtonpost

encryption
pseudonyms
cryptocurrency
anonymous networks
zero knowledge systems
identityless reputations
truly free markets
cryptoanarchy

via Twitter Web Client

If you thought the <COLOR> Hats have been having a field day with Solidity’s attack surface, wait ‘til they sink their teeth into @urbit_.

via Twitter Web Client

Over the long term, holding stock market index funds is nearly guaranteed to be profitable. github.com/zonination/inv… pic.twitter.com/ccP2DUfFHn

via Twitter Web Client

.@coinbase & @Circle are only licensed BTC money transmitters in NC; @coinxinc was denied. nccob.org/Online/Shared/… pic.twitter.com/ZyuowU4wGe

via Twitter Web Client

An explanation of how completely innocent people can invoke the Fifth Amendment to avoid incriminating themselves. reddit.com/r/politics/com…

via Twitter for Android

@Bitcoin Several-day-old posts about price movements are confusing :-/

via Twitter Web Client in reply to Bitcoin

@Truthcoin I’d try to get direct answers from the pools for more clarification; @james_hilliard tells me that CKPool doesn’t SPV mine.

via Twitter Web Client in reply to Truthcoin

@TuurDemeester And those are just the forks you can count (forked via github’s UI.) For example, XT isn’t counted: github.com/bitcoinxt/bitc…

via Twitter Web Client in reply to TuurDemeester

@brian_armstrong It would also be amazing to build a version of Slack that doesn’t use 100% of your RAM.

via Twitter Web Client in reply to brian_armstrong

Good guy AI chatbot successfully contests 160,000 parking tickets for free. theguardian.com/technology/201…

via Twitter for Android

@masonic_tweets You know what makes a great Faraday cage?.50 cal ammunition cans.

via Twitter for Android in reply to masonic_tweets

@hrdng It could but from the blocks I examined, the huge txns were many inputs to 1 output.

via Twitter for Android in reply to hrdng

@seweso It was significant for the blocks I saw yesterday. The fast low fee blocks had about a quarter the average fee rate.

via Twitter for Android in reply to seweso

OKC bar manager jailed for 3 days for putting strips of bacon inside bottles of vodka. Sounds like a @CrimeADay reason.com/blog/2016/06/2…

via Twitter Web Client

TL;DR don’t take custodianship of digital assets on behalf of North Carolinians unless you have money to burn. twitter.com/exitevent/stat…

via Twitter Web Client

Only 43 perfectly full 1,000,000 byte Bitcoin blocks have ever been mined. All of them by @f2pool! 👏👏👏👏
Most recent: tradeblock.com/bitcoin/block/…

via Twitter Web Client

@james_hilliard Nope, haven’t seen empty blocks from CKPool

via Twitter Web Client in reply to james_hilliard

@james_hilliard IDK, I’m just noting a behavior change I’m seeing. We’re still seeing the occasional empty block, though…

via Twitter Web Client in reply to james_hilliard

4) I consider this an improvement because instead of the miners giving us empty blocks, they’re cleaning up the UTXO set.

via Twitter Web Client in reply to lopp

3) This is probably a “safe” strategy b/c fee rates are so low, miners are nearly assured that they weren’t mined in the parent block.

via Twitter Web Client in reply to lopp

2) For example
F2Pool mined this block 7s after prev: tradeblock.com/bitcoin/block/…
CKPool mined this block 9s after prev: tradeblock.com/bitcoin/block/…

via Twitter Web Client in reply to lopp

1) It seems some pools have new logic to mine huge low-fee txns after a new block is detected but before they’ve updated their mempool.

via Twitter Web Client

TIL my local credit union has to have its coin counting machines serviced every few weeks to remove random items such as live ammunition.

via Twitter for Android

NinjaEconomics European bank stocks are getting battered. Down 22% since the referendum on.ft.com/291F8WQ pic.twitter.com/x1XgjdgMHf

via TweetDeck (retweeted on 11:07 AM, Jun 27th, 2016 via Twitter Web Client)

Huge if true. Proof that Technical Analysis of BTC markets is 💩?—@VinnyLinghammvinnylingham.com/the-1-dont-use…2pic.twitter.com/V5RBmwyyCJJ

via Medium

@pierre_rochard Though it seems that @eris_ltd is doing a pretty good job handling the “worst case” scenario for smart contracts.

via Twitter Web Client in reply to pierre_rochard

@pierre_rochard I think it comes down to: best case scenario, they blow normal contracts out of the water. Worst case: neightmare.

via Twitter Web Client in reply to pierre_rochard

@AlpacaSW @dgenr818 @santisiri If you’re running reasonable contracts that don’t screw over a significant portion of users, should be fine.

via Twitter Web Client in reply to AlpacaSW

@AlpacaSW @dgenr818 @santisiri It appears the fine print doesn’t meet the community’s expectation of reasonableness. media.law.uark.edu/arklawreview/2…

via Twitter Web Client in reply to AlpacaSW

bradheath Federal court: Computers connected to the internet aren’t private, have no 4th Am. protection. Expect to be hacked. pic.twitter.com/dHK1g9LpJh

via Twitter Web Client (retweeted on 11:38 AM, Jun 26th, 2016 via Twitter for Android)

4) Thus you shouldn’t use a public permissionless blockchain unless you believe most people are moral & rational. I, for one, do believe it.

via Twitter Web Client in reply to lopp

3) Historically, this only tends to happen defensively when an individual first screws over a decent portion of the collective userbase.

via Twitter Web Client in reply to lopp

2) That is: if “everyone” using a public blockchain decides it’s in their best interest to collectively screw you, you will get screwed.

via Twitter Web Client in reply to lopp

1) Public permissionless consensus systems let you use them w/o trusting any one individual. However, you must trust everyone in aggregate.

via Twitter Web Client

@dgenr818 @santisiri It’s not a bug in ETH, but meatspace consensus is that the bug should be corrected…

via Twitter for Android in reply to dgenr818

@WhalePanda The issue is code execution vs intent of the code devs. It’s not a coincidence that both incidents received the same response.

via Twitter for Android in reply to WhalePanda

@santisiri seemed different initially bc the bug was at app layer, but now there are good arguments that protocol layer wasn’t well defined.

via Twitter for Android in reply to lopp

@santisiri If by “real bug” you mean the code did not execute the intent of its authors… I don’t see the difference.

via Twitter for Android in reply to santisiri

One perspective: both “billion BTC” & “DAO attacker” get to keep their tokens, but everyone else has decided to use a different blockchain.

via Twitter for Android in reply to lopp

@fluffyponyza Either way, it appears that intent is more powerful than code when it comes to distributed consensus systems…

via Twitter for Android in reply to fluffyponyza

If DAO attacker deserves to keep tokens b/c they followed rules, doesn’t whoever created 184B BTC in 2010 as well? 🤔en.bitcoin.it/wiki/Value_ove…

via Twitter for Android

@govtechnews @jgarzik Myself and @coincenter tend to dispute the “friendliness” of said legislation.

via Twitter for Android in reply to govtechnews

@ollekullberg My point is that a lot of volume flows through a small number of popular services that take custody of bitcoins.

via Twitter Web Client in reply to lopp

@ollekullberg No, some examples would be: Bitcoin exchanges / brokers, payment portals, remittance providers, gambling services…

via Twitter Web Client in reply to ollekullberg

@ollekullberg I’m referring to popular custodial Bitcoin services.

via Twitter for Android in reply to ollekullberg

6) No doubt detractors will decry these “centralized hubs” but in reality they were already “centralized” for on-chain txns.

via Twitter Web Client in reply to lopp

5) Enter Lightning Network. Once popular custodial services support it, they can reduce on-chain txn volume & retain privacy.

via Twitter Web Client in reply to lopp

4) This presents a huge privacy issue - is sacrificing privacy worth decreasing the load on the blockchain? Doubtful many would agree.

via Twitter Web Client in reply to lopp

3) However, popular custodial services can only implement periodic settlement if they know which addresses belong to which services.

via Twitter Web Client in reply to lopp

2) Settlement could occur in trusted fashion with out-of-band “IOU” updates, or trustlessly via updating high value payment channels.

via Twitter Web Client in reply to lopp

1) A great deal of on-chain txn volume occurs between popular Bitcoin services. It could be reduced if they only settled periodically.

via Twitter Web Client

MTGOX (Magic The Gathering Online eXchange) is open for business on @openbazaar at ob://@_mtgox/store pic.twitter.com/I2U10Qqs4u

via Twitter Web Client

.@fluffyponyza says we need a model for CONOP (Cost of Node Option) - overlaps my argument that we need a node spec. coindesk.com/how-to-save-bi…

via Twitter Web Client in reply to lopp

Great talk by @fluffyponyza on challenges of building a max block size algo that won’t increase cost to run a node. pic.twitter.com/JCh9EaOWDH

via Twitter Web Client

naval Four sovereigns in history: tribe, king, corporate state, networked individual. All still here, unevenly distributed, and in conflict.

via Twitter for iPhone (retweeted on 1:18 PM, Jun 24th, 2016 via Twitter Web Client)

OnChainScaling The conference has started. If you have not registered you can use this link for today onchain.webex.com/onchain/onstag…

via Twitter for iPad (retweeted on 11:23 AM, Jun 24th, 2016 via Twitter Web Client)

The extremely wealthy would only need to put a small fraction of their investments into BTC to send it to the moon. twitter.com/BitfuryGeorge/…

via Twitter Web Client

jonmatonis My bet for the smart contract ecosystem is on @SDLerner: Lessons from the DAO Incident rootstock.io/blog/lessons-f… @RSKsmart

via Twitter for Android (retweeted on 10:11 AM, Jun 24th, 2016 via Twitter Web Client)

qz World currencies are tanking on Brexit, but bitcoin is surging qz.com/715681

via TweetDeck (retweeted on 6:06 AM, Jun 24th, 2016 via Twitter for Android)

@kristovatlas Have you checked out blockchainSQL? Seems to work pretty well; I haven’t been able to break it. blockchainsql.io/8Nou50

via Twitter Web Client

I tell ya, that pound is far too volatile to be used as a currency! /s twitter.com/AJInsight/stat…

via Twitter Web Client

@bitcoin3000 Time is definitely a key component; every day without a successful attack adds a little more psychological security.

via Twitter Web Client in reply to bitcoin3000

@oditorium I think hype + fact that Ethereum’s track record was yet unblemished resulted in too much trust in the smart contract code.

via Twitter Web Client in reply to oditorium

santisiri @lopp today investor and corporate contracts are also written in a dark language known only to experienced lawyers.

via Twitter for iPhone (retweeted on 2:34 PM, Jun 22nd, 2016 via Twitter Web Client)

4) Trustless blockchain + untrusted code = ?

via Twitter Web Client in reply to lopp

3) Thus, either smart contract investors are limited to a handful of techies (pointless) or investors must trust reviews from these people.

via Twitter Web Client in reply to lopp

2) But there’s a problem: a smart contract’s terms are the byte code + EVM behavior. Likely fewer than 1,000 people globally can review it.

via Twitter Web Client in reply to lopp

1) It’s easy to snark that “anyone investing in a smart contract must read the terms first” & thus investors deserve to lose money to flaws.

via Twitter Web Client

The world’s first Cypherpunk hedge fund. twitter.com/numerai/status…

via Twitter Web Client

As expected, the “White Hat” DAO counterattack has triggered another cycle of attacks. reddit.com/r/ethereum/com…

via Twitter Web Client

@masonic_tweets Ooh ooh, I know this one: it’s for scalability, right?

via Twitter for Android in reply to masonic_tweets

@AustenAllred Last I checked, quite a few people ascribe to the Keynesian theory that inflation is desirable. pic.twitter.com/wPqaQGjqKv

via Twitter Web Client in reply to AustenAllred

@kristovatlas I didn’t even know about Authy OneTouch; I guess none of the services I use support it…

via Twitter Web Client in reply to kristovatlas

Google Prompt is simplifying 2 factor authentication. I just set it up - it’s a breeze! pcmag.com/news/345445/go…

via Twitter Web Client

@alansilbert I wish it had worked for all the wars of aggression :-/

via Twitter Web Client in reply to alansilbert

Unveiling of Solidity exploits will surely slow down development as projects reallocate more resources to security. twitter.com/masonic_tweets…

via Twitter Web Client

@alansilbert Deadlocked government is my favorite kind of government.

via Twitter Web Client in reply to alansilbert

wrmead NYT reports on the rolling catastrophe that is America’s occupational licensing regime:
the-american-interest.com/2016/06/20/the…

via Twitter Web Client (retweeted on 7:17 PM, Jun 20th, 2016 via Twitter for Android)

@badslinky $1.5M probably can’t even buy a single supercomputing cluster! ;-)

via Twitter Web Client in reply to badslinky

@bradheath @jgarzik Aren’t /most/ Americans armed? Using that logic, no-knock warrants are always reasonable.

via Twitter Web Client in reply to bradheath

ryaneshea Irreversible truth exists in the real world. It’s called reality. And a universe of possibility awaits once we have digital irreversibility.

via Twitter Web Client (retweeted on 2:29 PM, Jun 20th, 2016 via Twitter Web Client)

A blockchain can only be as immutable as its community wants it to be. Meatspace consensus trumps machine consensus.

via Twitter Web Client

jerrybrito How to improve North Carolina’s digital currency bill coincenter.org/2016/06/how-to…

via Tweetbot for iΟS (retweeted on 11:25 AM, Jun 20th, 2016 via Twitter Web Client)

@barrysilbert @LRB It’s entertaining but unfortunately hard to take any of the content as factual given the fallout.

via Twitter Web Client in reply to barrysilbert

Ethereum will keep operating regardless of a soft / hard / no fork. Only difference: we’ll have a better idea of what Ethereum actually is.

via Twitter Web Client

@twobitidiot Jargon is just an old-fashioned form of compression: necessary for twitter :-D

via Twitter for Android in reply to twobitidiot

@oditorium @twobitidiot State is a pretty general term for “every piece of data comprising a system” so it should work.

via Twitter for Android in reply to oditorium

@twobitidiot How about: a tamper evident database comprised of historical state changes.

via Twitter for Android in reply to twobitidiot

@SDLerner I think what he meant was that the coinbase of block 9 was spent to create the transaction. Amateur phrasing error.

via Twitter for Android in reply to lopp

Craig Wright claimed to have met with Ross Ulbricht. Also claims that only 100K BTC are his. lrb.co.uk/v38/n13/andrew… pic.twitter.com/q3fNYTXDQp

via Twitter for Android

Several interesting claims & 1 dumb remark by the author. lrb.co.uk/v38/n13/andrew… pic.twitter.com/JQNbsXeqKP

via Twitter for Android

“Submissions that are mostly about some other cryptocurrency belong elsewhere, unless they are schadenfreude.” - /r/bitcoin

via Twitter Web Client

Improvements:
1) @DefDist has you covered with Ghost Gunner
2) Only takes a few clicks to set up a bitcoin wallet
twitter.com/LHSummers/stat…

via Twitter for Android

TuurDemeester $ETH falling like a rock vs. Bitcoin: -48% in 48 hours… pic.twitter.com/TAwx5dgtkz

via Twitter Web Client (retweeted on 2:41 PM, Jun 18th, 2016 via Twitter for Android)

Impossible to predict which would cause greater loss of confidence in Ethereum: forking or not. Other blockchains have tried both & tanked.

via Twitter for Android

@jgarzik @JohnCollins “It’s not a bug, it’s a feature!”

via Twitter for Android in reply to jgarzik

@grillmaestro A search of my tweet archive shows that I haven’t tweeted at @WCPSS … odd. lopp.net/tweetnest/sear…

via Twitter Web Client in reply to grillmaestro

@grillmaestro Oh my, it appears that @WCPSS blocked me. I wonder if I hurt their feelings at some point.

via Twitter Web Client in reply to grillmaestro

@christi68920324 With the existing consensus algorithm. You can read more here: en.bitcoin.it/wiki/Softfork

via Twitter Web Client in reply to christi68920324

@christi68920324 Just discussions so far. The difference between forks is that soft forks are backwards compatible while hard forks aren’t.

via Twitter Web Client in reply to christi68920324

BTC->USD at -2% today. $GBTC at +9%. $GTBTC premium at 97% over NAV. Do I hear 100%? Any takers?

via Twitter Web Client

Zd3N Level 2 of - Find private key in this image - Follow up: crypto.satori.digital pic.twitter.com/rmKKnyfrkm

via Twitter Web Client (retweeted on 12:41 PM, Jun 17th, 2016 via Twitter Web Client)

@cryptotraveler No, but if you read Vitalik’s thoughts on consensus then it shouldn’t be surprising: blog.ethereum.org/2014/11/25/pro…

via Twitter Web Client in reply to cryptotraveler

@cryptotraveler Not “some guy,” but rather the network validators. It’s still a form of distributed consensus.

via Twitter Web Client in reply to cryptotraveler

@cryptotraveler But did Ethereum ever actually promise fungibility and immutability in the first place?

via Twitter Web Client in reply to cryptotraveler

@colbydillion Maybe; the fundamental difference is peoples value of machine versus social consensus.

via Twitter Web Client in reply to colbydillion

@Papirys1 Unfortunately not. We were not notified of this meeting and had no chance to air any of our grievances with the bill.

via Twitter Web Client in reply to Papirys1

Best case for Bitcoin: Ethereum doesn’t hard fork to recover funds and doesn’t soft fork to freeze funds, so attacker dumps ETH for BTC.

via Twitter Web Client

@el33th4xor Sounds like an opportunity for smart contract security reviewers and insurance providers :-)

via Twitter Web Client in reply to el33th4xor

@gacrux_nz @oleganza Recall that Ethereum has already hard forked in the past. It will hard fork again in the future.

via Twitter Web Client in reply to lopp

@gacrux_nz @oleganza I don’t think it promised that. It seems a lot of people are finally realizing ETH & BTC have diff security models.

via Twitter Web Client in reply to gacrux_nz

@oditorium @prestonjbyrne @Steven_McKie @rbtkhn Yep; if I held ETH, I wouldn’t want to hand over that much to an attacker to dump on market.

via Twitter Web Client in reply to oditorium

@prestonjbyrne @Steven_McKie @rbtkhn Correct. If Ethereum community comes to a consensus that this is the preferred state, so it shall be.

via Twitter Web Client in reply to prestonjbyrne

@GitKilbert No one knows, but no crypto system has the ability to peg a stable value relative to any other asset.

via Twitter Web Client in reply to GitKilbert

@rbtkhn It’s possible to change the contract to allow people to withdraw their ETH: blog.ethcore.io/attack-on-thed…

via Twitter Web Client in reply to rbtkhn

@JopHartog Depends upon your perspective - V has argued for years that root of consensus is social. ETH holders should know what they bought

via Twitter Web Client in reply to JopHartog

@cannamellia It’s not negative - it’s a different model. Both have pros & cons.

via Twitter for Android in reply to cannamellia

@JopHartog I’d be willing to wager BTC that the plan will be enacted as described.

via Twitter for Android in reply to JopHartog

Ethereum has never and will never have Bitcoin’s security model. Expecting it to perform like BTC is setting yourself up for disappointment.

via Twitter for Android

@colbydillion Trust & value would be affected regardless of if DAO holders got their funds back.

via Twitter for Android in reply to colbydillion

@JopHartog The plan for enabling DAO holders to retrieve their funds has already been published.

via Twitter for Android in reply to JopHartog

@WhalePanda If you mean the later buyers, not sure of the details. Pretty sure the original expectation was they couldn’t get premium back.

via Twitter for Android in reply to WhalePanda

This may be Ethereum’s first Goxxing, but unlike Gox, all funds are accounted for and will be returned in a timely fashion.

via Twitter for Android

@TuurDemeester Will ETH holders flee to the safety of BTC?

via Twitter for Android in reply to TuurDemeester

MrChrisEllis “theDAO will be winded down completely and transformed into a simple contract where you can only withdraw” pic.twitter.com/NAUkHO4u7O

via Twitter Web Client (retweeted on 8:13 AM, Jun 17th, 2016 via Twitter for Android)

jgarzik Snarking about intervention by community is misplaced: BTC saw heavy intervention early in life too.

via Twitter Web Client (retweeted on 8:13 AM, Jun 17th, 2016 via Twitter for Android)

If The DAO attacker “gets away with it” then this will turn into a test of Ethereum’s privacy and fungibility.

via Twitter Web Client

@flyosity @BIUK_Tech It might be the end of The DAO, but definitely not the end of Ethereum.

via Twitter for Android in reply to flyosity

@RyanRadloff More people are using smart wallets that won’t create low fee transactions that get stuck.

via Twitter for Android in reply to RyanRadloff

The result of deploying a large attack surface. How the devs handle this crisis is critical. twitter.com/desantis/statu…

via Twitter for Android

@oleganza Vitalik’s view is that the root of all consensus is social and he has a point. Similar coordination happens during Bitcoin crises.

via Twitter for Android in reply to oleganza

@alansilbert Skyrocketing - Bitcoin is failing its way upmarket every day! twitter.com/WritingFactory…

via Twitter Web Client in reply to alansilbert

@alex Due to full blocks it is more competitive to get transactions confirmed. I wrote an article about fees & UX: coindesk.com/building-bette…

via Twitter Web Client in reply to alex

mikebelshe Blockchain fees up 3x YoY. (fees-per-block / tx-per-block * daily BTC price) pic.twitter.com/O1HFpkQzX6

via Twitter Web Client (retweeted on 1:31 PM, Jun 16th, 2016 via Twitter Web Client)

We appear to have surpassed 50% adoption of dynamically calculated bitcoin transaction fees last month. pic.twitter.com/2TnRQIqDhs

via Twitter Web Client

@juscamarena I’d expect it to be higher as well, assuming there still aren’t off-chain networks that are reliable & easy to use.

via Twitter Web Client in reply to juscamarena

@deadalnix If you aren’t making transactions, the transaction fees are irrelevant! ;-)

via Twitter Web Client in reply to deadalnix

If BTC->USD reaches $10,000, will the average transaction fee be over $3? There’s only one way to find out: HODL! twitter.com/lopp/status/74…

via Twitter Web Client

Predicting the future is hard; hope you bought the dip… twitter.com/TonyGallippi/s…

via Twitter Web Client

@kristovatlas @ryaneshea Where are my blaster pistols, Silicon Valley!?!?

via Twitter Web Client in reply to kristovatlas

@socrates1024 You’d have to ask @TradeBlock, but I doubt “Total Value” is “Unique Value”

via Twitter Web Client in reply to socrates1024

@socrates1024 Total value doesn’t have as much meaning anyway since we don’t know how many coins are lost.

via Twitter Web Client in reply to lopp

@socrates1024 A better comparison is likely to the daily txn volume which also includes value that’s spent multiple times.

via Twitter Web Client in reply to socrates1024

@seweso *shrugs* anyone who claims to be able to tell real usage from attack transactions is just guessing.

via Twitter for Android in reply to seweso

@killerstorm I mean an economic effect because the value in unconfirmed txns is essentially frozen - it’s not safe to spend unconfirmeds.

via Twitter Web Client in reply to killerstorm

3) These txns paid 20 sat / byte, well below where the current “floor” appears to be. Is someone abusing @YourBTCC’s BlockPriority service?

via Twitter Web Client in reply to lopp

1) Something funky happening on the blockchain? Lots of clusters just in a 10 min period. gappleto97.github.io/visualizer/ pic.twitter.com/DwICuB26U3

via Twitter Web Client

@BTCoinInformer Looks like we’re coming up on 24 hours for some of the oldest ones.

via Twitter Web Client in reply to BTCoinInformer

@josephjpeters So… no effects? Will we never reach a critical threshold because users will simply stop sending transactions?

via Twitter Web Client in reply to josephjpeters

1.68% of all BTC value is unconfirmed - about 10% of daily txn volume. At what point does this have a ripple effect? pic.twitter.com/cOpzScx7cb

via Twitter Web Client

“Bitcoin fees are like a 7c toll bridge, but half the drivers are throwing a quarter as they drive past.” twitter.com/rusty_twit/sta…

via Twitter Web Client

@prestonjbyrne It’s amazing how so many people have the ability to predict the futures of alternate timelines.

via Twitter Web Client in reply to prestonjbyrne

@ajtowns Ideally this would always be the case, but I’m quite sure many txns are automated / not presented to a human for a fee decision.

via Twitter Web Client in reply to ajtowns

BitGo Proud of BitGo saving people real money with Dynamic Fraud Filters. blog.bitgo.com/bitgo-dynamic-…

via Twitter Web Client (retweeted on 6:01 PM, Jun 14th, 2016 via Twitter Web Client)

.@SenBillRabon @SenatorBobRucho @jerrytillman: next time invite companies most impacted by regulation: startups. coindesk.com/blockchain-dig…

via Twitter Web Client

A web site FAQ of exemptions can be changed on a whim: it is insufficient protection for startups. twitter.com/jerrybrito/sta…

via Twitter Web Client

Sounds like nothing has changed since we last looked at it, meaning there are many concerns. coindesk.com/blockchain-dig… pic.twitter.com/okDpmACDpU

via Twitter Web Client

@bedehomender Miners collect whatever transactions are paying the highest fees.

via Twitter Web Client in reply to bedehomender

@el33th4xor I guess it could ratchet down if enough users stop using Bitcoin :-P

via Twitter Web Client in reply to el33th4xor

6) As a result, it seems that an increasing exchange rate is another factor that pushes low value transactions off of the network.

via Twitter Web Client in reply to lopp

5) Thus it appears that if blocks remain full, the fee rates remain the same in terms of satoshis per byte regardless of exchange rate.

via Twitter Web Client in reply to lopp

4) This creates a fee rate standoff: there’s a first mover disadvantage to lowering txn fee rates to compensate for increased exchange rate.

via Twitter Web Client in reply to lopp

3) If the exchange rate spikes & a wallet decides to lower the fee rate it pays, those wallet users will now suffer from delayed confirms.

via Twitter Web Client in reply to lopp

2) As the BTC / fiat exchange rates go up and down, fee estimate algos don’t take them into account because they are irrelevant to miners.

via Twitter Web Client in reply to lopp

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