Hacker News: lwat

New comment by lwat in "Bitcoin will soon block small transaction outputs"

lwat — Mon, 06 May 2013 03:21:28 +0000

I don't see any suggestions from your side?

New comment by lwat in "Bitcoin will soon block small transaction outputs"

lwat — Mon, 06 May 2013 00:35:30 +0000

That's like saying I have no right to stop email spammers and that they should have the right to decide if their email volume is appropriate or not.

Making sub-cent transactions is a waste of MY resources because every transaction gets duplicated to everyone's copy of the blockchain. That's spam. If we don't stop this then the blockchain will become so unwieldy that it makes Bitcoin all but useless for everyone, and that's not good for anyone.

New comment by lwat in "Bitcoin will soon block small transaction outputs"

lwat — Sun, 05 May 2013 23:59:02 +0000

You can aggregate those and pay them out when they become big enough. Bitcoin stores every transaction on every computer on the Bitcoin network. It's not suited to transactions that small, you're just wasting everyone's resources.

New comment by lwat in "Bitcoin will soon block small transaction outputs"

lwat — Sun, 05 May 2013 23:46:54 +0000

Why

New comment by lwat in "Bitcoin will soon block small transaction outputs"

lwat — Sun, 05 May 2013 23:46:14 +0000

If you're making transactions smaller than 1 cent, keep them off the blockchain. You're just wasting everyone's resources. Aggregate them until they're big enough to matter and THEN commit them to the blockchain.

New comment by lwat in "Bitcoin will soon block small transaction outputs"

lwat — Sun, 05 May 2013 23:44:59 +0000

The limit will be adjusted if BTC becomes worth thousands.

New comment by lwat in "Bitcoin will soon block small transaction outputs"

lwat — Sun, 05 May 2013 23:44:27 +0000

No this is awesome. Only transaction smaller than about half a cent is blocked. There's no good reason to make a transaction that small on the blockchain. Satoshidice sends thousands of transactions of one satoshi each every day and it adds gigabytes of data to to millions of computers worldwide. What a waste of resources.

New comment by lwat in "Running PostgreSQL on Compression-enabled ZFS"

lwat — Mon, 22 Apr 2013 22:55:55 +0000

The way I make sense of this is that you need fewer (slow) disk reads to get the same amount of data into RAM, so that might explain the speedup?

I agree that it sounds too good to be true though.

New comment by lwat in "Very Short Reply Expected"

lwat — Sun, 21 Apr 2013 22:59:33 +0000

You say efficient, we say awkward.

New comment by lwat in "The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator"

lwat — Sun, 21 Apr 2013 02:39:54 +0000

The chart stops at 2010, many more bitcoins have been mined since.

New comment by lwat in "The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator"

lwat — Thu, 18 Apr 2013 06:02:44 +0000

L Ron Hubbard

New comment by lwat in "The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator"

lwat — Thu, 18 Apr 2013 05:58:27 +0000

Now that someone's identified these coins people will watch them very closely. It's gonna be very difficult for Satoshi to ever get their millions out of the system.

New comment by lwat in "The Well Deserved Fortune of Satoshi Nakamoto, Bitcoin creator"

lwat — Thu, 18 Apr 2013 05:49:01 +0000

You misread, it's not 63% of the market. Its about 10% of the market - 1148800 BTC

New comment by lwat in "Bitfloor shuts down"

lwat — Thu, 18 Apr 2013 02:24:06 +0000

Anywhere but the US

New comment by lwat in "Gitmo Is Killing Me"

lwat — Mon, 15 Apr 2013 05:02:16 +0000

What was his solutions? Moving the detainees to another facility? Or did he actually want to give them trials and send the innocent ones home?

New comment by lwat in "How Five Economists Think About Bitcoin"

lwat — Sun, 14 Apr 2013 22:34:16 +0000

It's pretty simple to work around the price fluctuations. You keep your money in a USD denominated account in a bitcoin exchange (MtGox or whatever) and convert just what you want to spend whenever you need to pay for something in bitcoin. It's instantaneous and easy.

New comment by lwat in "Zerocoin: making Bitcoin anonymous"

lwat — Fri, 12 Apr 2013 01:54:48 +0000

The probability of any finite interval P(a, b) = 0

New comment by lwat in "Bitcoin falls from $266"

lwat — Thu, 11 Apr 2013 22:13:04 +0000

No you need 50% of the mining capacity, not the bitcoins

New comment by lwat in "Bitcoin falls from $266"

lwat — Wed, 10 Apr 2013 23:47:19 +0000

I don't care, I'll buy them all. I'd be the sole owner of a piece of internet history.

New comment by lwat in "Bitcoin falls from $266"

lwat — Wed, 10 Apr 2013 23:20:22 +0000

Bitcoinbillionaire supposedly had waaaay more than $12k in Bitcoins. That was just the bitcoins he gave away for nothing. He supposedly had millions worth, if he sold a large chunk of that he could easily crash the price all on his own.