11th October 2018, 9:00 pm
We all need to run full validating nodes, no working implementation of spv, not able to prove a block is invalid and even if, not sufficient bc of valid-but-unknown blocks. Could you go into detail why blowback would be huge and it’s likely the community would just decide to tolerate a invalid block and try to ‘patch up’ the ill effects reactively ? Thank you.
Bandwidth and CPU time has historically improved on average approx. 17% per year. Since block size wasn't reduced, and in fact was increased, we have a LOT of catch-up to do if we ever want Bitcoin to be safely decentralised again. Do u think we need to reduce block size to keep bitcoin safe ?
I mean at least 80% of economic activity should be verified (users verify own incoming tx), anything less means there is a real risk an invalid chain will prevail over a valid one. Any block size larger than 300k increases the cost FASTER than technology becomes cheaper. Do you agree?
Thank you for doing the AMA. My question is in regard to security. Do you believe that the Bitcoin protocol or a traditional US bank is more secure? Given both the fractional reserve banking and potential for the US dollar to hyper-inflate and then the recent CVE-2018-17144 bug. Where would money be more secure on a ten year time horizon?
Could you respond to this article on the limitations of smart contracts?
"There is an intractable problem in linking a digital to a physical asset. Physical assets are regulated by the jurisdiction you happen to be in. This means that possession in a smart contract doesn’t necessarily mean possession in the real world and suffers from the same trust problem as normal contracts." [edited down]
"Smart contracts are simply too easy to screw up, too difficult to secure, too hard to make trustless and have too many external dependencies to work for most things. The only real place where smart contracts actually add trustlessness is with digital bearer instruments on decentralized platforms like Bitcoin."
Is Blockchain gonna work as a standard in future for existing systems like banking,marketing,trading etc. I guess the tech is great but dont know why still not evolving or proving. As per development question how the datas are going to be stored in the network . And also when we can expect stable or standard version of any blockchain (not specific to ethereum ) for development as the existing is limited to scalibity and other limitation?
Is there any hope for me getting back the 45 BTC that were stolen from me in the SourceForge trojan attack?
Additionally, will bitcoin ever actually be a viable currency for day-to-day use? Or will the political infighting and greed surrounding it forever prevent the adoption of realistic technical solutions to its scaling problems?
Many highly-anticipated protocols will need to host hundreds if not thousands of developers to get traction. Many protocol leads are beginning to host incubators, sponsor university conferences and even acquihire to seed their protocol. Which approaches do you think are overhyped? Which are underestimated?
Hi JL. l lost my phone so localbitcoins.com temporarily suspended my account until I was able to setup 2FA again. During this time 3 btc were taken from my account.
- Seems cut and dry, localbitcoins are at fault. Yes?
- Is it worth me trying to get this money back?
- Are there professionals that I can pay to help me?