Now let's see something similar but for a private coin such as Monero! :-P
The Bitcoin Blockchain Visualized in 3D
51–60 of 103 posts
Re: The Bitcoin Blockchain Visualized in 3D
#52Earlier quoted context omitted.
Yes, Bitcoin seems to be popular in the trade of illegal goods and for paying ransomware. Doesn't exactly explain why most other people invest so much into Bitcoin. And the security is very dubious, considering the track record of Bitcoin exchanges.
sigh, how this is still an argument? try going a step further and ask yourself why is bitcoin "popular in the trade of illegal goods and for paying ransomware". hint: there's a thing that is even more "popular in the trade of illegal goods and for paying ransomware" - cash. hopefully it's enough of a nudge in the right direction.
Sorry, thats just a strawman. Bitcoin enables sending money over the internet off official channels. You are not going to pay for ransomware with your credit card.
Re: The Bitcoin Blockchain Visualized in 3D
#53Earlier quoted context omitted.
Yes, Bitcoin seems to be popular in the trade of illegal goods and for paying ransomware. Doesn't exactly explain why most other people invest so much into Bitcoin. And the security is very dubious, considering the track record of Bitcoin exchanges.
sigh, how this is still an argument? try going a step further and ask yourself why is bitcoin "popular in the trade of illegal goods and for paying ransomware". hint: there's a thing that is even more "popular in the trade of illegal goods and for paying ransomware" - cash. hopefully it's enough of a nudge in the right direction.
People have wanted an online cash equivalent for decades. It's a privacy thing. "Illegal" means whatever authoritarian jerks want it to, so we can ignore that.
Ransomware obviously uses Bitcoin because it's reliable, and can be anonymized. And people use Tor for child porn and "illegal" drugs because it's secure and ~anonymous. They're popular because they work. And in a way, they're canaries for decent privacy lovers.
Re: The Bitcoin Blockchain Visualized in 3D
#54Earlier quoted context omitted.
Okay, that makes waaay more sense. Thanks for explaining. Do I understand correctly, though? If I want to send a small amount of bitcoin, with a minimal fee, there is a possibility that that transaction won't go through, because no miner picks it up?
That is correct, there is a maximum number of transactions that can occur on the main Bitcoin chain (it was ~7/second at the beginning, and I think it still is) so there is effectively an auction to get on the chain. As ignaloidas explained in another comment though, this doesn't include the Lightning Network which is where most everyday transactions would occur.
Alright, so there's always a way to get my transaction through, nice.
Would you have any resource that is worth checking out to learn more about blockchain? I don't care about market analysis, economy. I just want to understand the underlying technology to know what's happening there. Book would be fine too.
Re: The Bitcoin Blockchain Visualized in 3D
#55Earlier quoted context omitted.
sigh, how this is still an argument? try going a step further and ask yourself why is bitcoin "popular in the trade of illegal goods and for paying ransomware". hint: there's a thing that is even more "popular in the trade of illegal goods and for paying ransomware" - cash. hopefully it's enough of a nudge in the right direction.
Sorry, thats just a strawman. Bitcoin enables sending money over the internet off official channels. You are not going to pay for ransomware with your credit card.
> You are not going to pay for ransomware with your credit card
ugh.. did you misread my comment? i was talking about cash.
Re: The Bitcoin Blockchain Visualized in 3D
#56Earlier quoted context omitted.
That is correct, there is a maximum number of transactions that can occur on the main Bitcoin chain (it was ~7/second at the beginning, and I think it still is) so there is effectively an auction to get on the chain. As ignaloidas explained in another comment though, this doesn't include the Lightning Network which is where most everyday transactions would occur.
Alright, so there's always a way to get my transaction through, nice. Would you have any resource that is worth checking out to learn more about blockchain? I don't care about market analysis, economy. I just want to understand the underlying technology to know what's happening there. Book would be fine too.
The original 9 page paper by Satoshi is probably the best place to start for a technical introduction: https://bitcoin.org/bitcoin.pdf
The Bitcoin wiki has a lot more information, although it can be hard to navigate: https://en.bitcoin.it/wiki/Main_Page
For some more modernish innovations in Blockchain tech in general, I would also recommend the Ethereum white paper: https://github.com/ethereum/wiki/wiki/White-Paper. Ethereum re-imagines the Bitcoin protocol with a turing complete virtual machine that runs on the chain itself.
Re: The Bitcoin Blockchain Visualized in 3D
#57Great illustration of disparity between transaction values. Massive majority of transactions are below 0.1 BTC. And then almost every block includes a transaction of a few thousand BTC. I'd love to see something like this for Visa network.
Re: The Bitcoin Blockchain Visualized in 3D
#58Earlier quoted context omitted.
That is correct, there is a maximum number of transactions that can occur on the main Bitcoin chain (it was ~7/second at the beginning, and I think it still is) so there is effectively an auction to get on the chain. As ignaloidas explained in another comment though, this doesn't include the Lightning Network which is where most everyday transactions would occur.
Alright, so there's always a way to get my transaction through, nice. Would you have any resource that is worth checking out to learn more about blockchain? I don't care about market analysis, economy. I just want to understand the underlying technology to know what's happening there. Book would be fine too.
I would start with the original Bitcoin white paper[0] followed by the blockchain guide on Bitcoin.org[1].
Re: The Bitcoin Blockchain Visualized in 3D
#59All his effort and the site is completely unusable on mobile Safari and barely/confusingly usable on mobile Firefox - I gave up about 20 seconds into it.
what’s the point of all the nerdiness if it’s unusable.
Re: The Bitcoin Blockchain Visualized in 3D
#60All his effort and the site is completely unusable on mobile Safari and barely/confusingly usable on mobile Firefox - I gave up about 20 seconds into it. what’s the point of all the nerdiness if it’s unusable.
What's the point of seeing it on mobile?
It's way too rich to be experienced on such a small screen.