31–40 of 90 posts
This sucks. I thought one of the killer apps for bitcoin was going to be micropayments. Oh well maybe the world will switch to litecoin.
The fact of the matter is that this is all Bitcoin has been used for so far (no company has used Bitcoins thus far for micropayments) so I think it will continue to evolve into an even more perfect store of value as time goes on.
Earlier quoted context omitted.
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.
>here's no good reason to make a transaction that small on the blockchain. You don't have the right to say that, it should be my right to decide whether my transaction size is appropriate or not. This sounds like regulation to me.
I assume the reason behind this is to block people from encoding data into the block chain by doing thousands of worthless transactions. If I recall correctly someone recently encoded the URL to a child porn site into the block chain, this is the only reasonable response to prevent it from happening again IMO.
If a user is willing to spend $10 to insert a URL in the block chain, there is no way to stop them without making bitcoin useless.
The move to treat very small amounts of bitcoin as simply invalid is intended to reduce the bloat of the unspent address cache (called the UTXO). This is explained at the top of the linked page.
Earlier quoted context omitted.
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.
>here's no good reason to make a transaction that small on the blockchain. You don't have the right to say that, it should be my right to decide whether my transaction size is appropriate or not. This sounds like regulation to me.
This sucks. I thought one of the killer apps for bitcoin was going to be micropayments. Oh well maybe the world will switch to litecoin.
Funny, I always thought of it as a near perfect store of value and nothing more. The fact of the matter is that this is all Bitcoin has been used for so far (no company has used Bitcoins thus far for micropayments) so I think it will continue to evolve into an even more perfect store of value as time goes on.
Earlier quoted context omitted.
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.
>here's no good reason to make a transaction that small on the blockchain. You don't have the right to say that, it should be my right to decide whether my transaction size is appropriate or not. This sounds like regulation to me.
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.
If miners decide they still want to include these transactions, they can.
This is the way it should be since miners bear the cost of every transaction in the form of computing/network/storage resources.
I assume the reason behind this is to block people from encoding data into the block chain by doing thousands of worthless transactions. If I recall correctly someone recently encoded the URL to a child porn site into the block chain, this is the only reasonable response to prevent it from happening again IMO.
(Also, IIRC, wasn't their a proposal to make the data a hash or something mandatory so that it couldn't be random|misc-manual data? Or was that unfeasible for some reason?)
Earlier quoted context omitted.
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.
>here's no good reason to make a transaction that small on the blockchain. You don't have the right to say that, it should be my right to decide whether my transaction size is appropriate or not. This sounds like regulation to me.