Re: [Bitcoin-development] The Bitcoin Node Market
Hi Raystonn On Mon, Jun 15, 2015 at 9:36 PM, Raystonn . wrote: > > I am only partially through the content at the below link, and I am very > impressed. Has Justus Ranvier began work on implementation of the ideas > contained therein? I don't know if he or someone else has begun writing code to implement what was described in the liked post, but I'm sure he will reply to you since he's subscribed to this mailing list. > > > > From: sick...@gmail.com > Sent: Monday, June 15, 2015 12:18 PM > To: Raystonn . > Cc: Bitcoin Dev > Subject: Re: [Bitcoin-development] The Bitcoin Node Market > > > Sorry for top posting and the brevity but I'm typing from my phone > > You shoud be interested in this post by Justus Ranvier then: > > https://bitcoinism.liberty.me/economic-fallacies-and-the-block-size-limit-part-2-price-discovery/ > > On Jun 15, 2015 8:57 PM, "Raystonn ." wrote: >> >> I have been toying with an idea and figured I'd run it by everyone here >> before investing further time in it. The goal here is to make it >> sustainable, and perhaps profitable, to run full nodes on the Bitcoin >> Network in the long term. >> >> - Nodes can participate in a market wherein they are paid by nodes, wallets, >> and other services to supply Bitcoin Network data. Payment should be based >> on the cost imposed on the Node to do the work and send the data, but can be >> set in any way the node operator desires. It's a free market. >> - Nodes that are mostly leeching data from the Bitcoin Network, such as >> those that do not receive inbound connections to port 8333, will send >> payments to the nodes they connect to, but will likely receive no payments >> from other nodes, wallets, and other services. >> - Nodes that are providing balanced full service to the Bitcoin Network will >> tend to have a balance of payments coming in and going out with regards to >> other balanced full service nodes, leaving them revenue neutral there. But >> they will receive payments from leech nodes, wallets, and other services. >> >> The net effect here is that the cost to run nodes will be shared by those >> who are using the Bitcoin network but not contributing by running a full >> node. A market will develop for fees to connect to the Bitcoin Network >> which should help cover the cost of running the Network. It's still >> possible to continue offering access to your node for free as there is >> nothing forcing you to charge a fee. But this isn't very sustainable >> long-run. Market efficiencies should eventually mean nodes take in only >> what is required to keep the Network operational. >> >> Raystonn >> >> >> -- >> ___ >> Bitcoin-development mailing list >> Bitcoin-development@lists.sourceforge.net >> https://lists.sourceforge.net/lists/listinfo/bitcoin-development -- ___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
Re: [Bitcoin-development] The Bitcoin Node Market
Sorry for top posting and the brevity but I'm typing from my phone You shoud be interested in this post by Justus Ranvier then: https://bitcoinism.liberty.me/economic-fallacies-and-the-block-size-limit-part-2-price-discovery/ On Jun 15, 2015 8:57 PM, "Raystonn ." wrote: > I have been toying with an idea and figured I'd run it by everyone here > before investing further time in it. The goal here is to make it > sustainable, and perhaps profitable, to run full nodes on the Bitcoin > Network in the long term. > > - Nodes can participate in a market wherein they are paid by nodes, > wallets, > and other services to supply Bitcoin Network data. Payment should be based > on the cost imposed on the Node to do the work and send the data, but can > be > set in any way the node operator desires. It's a free market. > - Nodes that are mostly leeching data from the Bitcoin Network, such as > those that do not receive inbound connections to port 8333, will send > payments to the nodes they connect to, but will likely receive no payments > from other nodes, wallets, and other services. > - Nodes that are providing balanced full service to the Bitcoin Network > will > tend to have a balance of payments coming in and going out with regards to > other balanced full service nodes, leaving them revenue neutral there. But > they will receive payments from leech nodes, wallets, and other services. > > The net effect here is that the cost to run nodes will be shared by those > who are using the Bitcoin network but not contributing by running a full > node. A market will develop for fees to connect to the Bitcoin Network > which should help cover the cost of running the Network. It's still > possible to continue offering access to your node for free as there is > nothing forcing you to charge a fee. But this isn't very sustainable > long-run. Market efficiencies should eventually mean nodes take in only > what is required to keep the Network operational. > > Raystonn > > > > -- > ___ > Bitcoin-development mailing list > Bitcoin-development@lists.sourceforge.net > https://lists.sourceforge.net/lists/listinfo/bitcoin-development > -- ___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
Re: [Bitcoin-development] Bitcoin Protocol Specification
On Mon, Jul 14, 2014 at 2:37 PM, Mike Hearn wrote: > just out of curiosity, do you think it will be possible to create any >> other proper protocol specifications rather than the C++ original? > > > Well it's a finite code base so yes, it should be possible. > > The only problem is so far everyone who tried it, didn't succeed :) > Heck even people who tried to reimplement it by reading the code keep > getting subtle details wrong. > > So it should definitely be possible one day, assuming Bitcoin doesn't > become radically more complex, but it's a minefield. > thank for the frank reply -- Want fast and easy access to all the code in your enterprise? Index and search up to 200,000 lines of code with a free copy of Black Duck Code Sight - the same software that powers the world's largest code search on Ohloh, the Black Duck Open Hub! Try it now. http://p.sf.net/sfu/bds___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
Re: [Bitcoin-development] Bitcoin Protocol Specification
On Mon, Jul 14, 2014 at 1:26 PM, Mike Hearn wrote: > Nice work, but please don't call it the "Bitcoin protocol spec". Your > document is not a spec. fair objection, fwiw. > It is an attempt to describe in English the Bitcoin > protocol, but anyone who implemented it based on your description would get > it wrong. For example you didn't mention the SIGHASH_SINGLE bug and many > other important areas like the difficulty transitions are also left > unspecified. at the end of the day it's opensource so it could always be improved via pull request on github. Krzysztof, in that regard I would add a licence file to make integration of changes made by others smoother. > As a loose description of the protocol for newbies it's an invaluable > resource and perhaps we should link to it from the developer guide. As > something that claims to be a specification it is quite possibly dangerous - > the only spec that matters is the C++ original. just out of curiosity, do you think it will be possible to create any other proper protocol specifications rather than the C++ original? > On Mon, Jul 14, 2014 at 11:54 AM, Krzysztof Okupski > wrote: >> >> Dear all, >> >> thank you for your invaluable feedback. As requested, the spec >> will from now on be under version control. It can be found under: >> >> https://github.com/minium/Bitcoin-Spec >> >> The old link to the PDF will be, just in case, kept updated as well. >> >> >> Warm greetings, >> Krzysztof Okupski -- Want fast and easy access to all the code in your enterprise? Index and search up to 200,000 lines of code with a free copy of Black Duck® Code Sight™ - the same software that powers the world's largest code search on Ohloh, the Black Duck Open Hub! Try it now. http://p.sf.net/sfu/bds ___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
Re: [Bitcoin-development] Bitcoin Protocol Specification
On Mon, Jul 14, 2014 at 11:54 AM, Krzysztof Okupski wrote: > Dear all, > > thank you for your invaluable feedback. As requested, the spec > will from now on be under version control. It can be found under: > > https://github.com/minium/Bitcoin-Spec > > The old link to the PDF will be, just in case, kept updated as well. > > > Warm greetings, > Krzysztof Okupski many many thanks Krzysztof. This was badly needed. This is a way to get more people to understand the whole system, hence increasing the number of bitcoin devs on the long term. -- Want fast and easy access to all the code in your enterprise? Index and search up to 200,000 lines of code with a free copy of Black Duck® Code Sight™ - the same software that powers the world's largest code search on Ohloh, the Black Duck Open Hub! Try it now. http://p.sf.net/sfu/bds ___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
Re: [Bitcoin-development] MtGox blames bitcoin
Hi, On Mon, Feb 10, 2014 at 12:28 PM, Drak wrote: > What is the official response from the Bitcoin Core developers about MtGox's > assertion that their problems are due to a fault of bitcoin, as opposed to a > fault of their own? > > The technical analysis preluding this mess, was that MtGox was at fault for > their faulty wallet implementation. this seems a fair explanation of what happened: http://www.reddit.com/r/Bitcoin/comments/1x93tf/some_irc_chatter_about_what_is_going_on_at_mtgox/cf99yac -- Managing the Performance of Cloud-Based Applications Take advantage of what the Cloud has to offer - Avoid Common Pitfalls. Read the Whitepaper. http://pubads.g.doubleclick.net/gampad/clk?id=121051231&iu=/4140/ostg.clktrk ___ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
