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February 2016

High fees create centralization pressure


High fees create centralization pressure

While using Bitcoin to pay for an order on Overstock, it occured to me that I could save the transaction fee if I had a coinbase wallet. This would have made it a free, coinbase-internal transaction as they are processing Overstock's Bitcoin payments. In other words: once fees start to hurt, frequent Bitcoin users will flock to whatever integrated wallet provider is most popular, creating a classic "winner takes it all" scenario. Once that happens, you can kiss decentralization goodbye.

Submitted March 01, 2016 at 04:42AM by Hermel
via reddit http://bit.ly/1QhFLrl

OpEd: In Butterfly Labs Case, FTC Shows Little Regard For Bitcoiners

Bitcoin’s ‘New Normal’ Is Slow and Frustrating


Bitcoin’s ‘New Normal’ Is Slow and Frustrating
http://bit.ly/1ndlRDm

Submitted March 01, 2016 at 06:00AM by Egon_1
via reddit http://bit.ly/1oTWTL1

OpEd: In Butterfly Labs Case, FTC Shows Little Regard For Bitcoiners


OpEd: In Butterfly Labs Case, FTC Shows Little Regard For Bitcoiners
http://bit.ly/1UuZ6sd

Submitted March 01, 2016 at 06:53AM by olivercarding
via reddit http://bit.ly/1XWgcPx

Increase DEFAULT_BLOCK_MAX_SIZE to 1MB


Increase DEFAULT_BLOCK_MAX_SIZE to 1MB
http://bit.ly/1TMft30

Submitted March 01, 2016 at 02:50AM by the_alias_of_andrea
via reddit http://bit.ly/1ndj3WX

Six hours, still no confirmation with 0.001 fee?


Six hours, still no confirmation with 0.001 fee?

Why? What did I do wrong and how can I avoid this in the future? These kind of ridiculous delays are not cool.

http://bit.ly/1oK4n2J

Submitted March 01, 2016 at 03:08AM by gmiwenht
via reddit http://bit.ly/1SdpLsZ

‘Bitcoin Always Needed More Than One Body of Developers’: An Interview With Libbitcoin’s Eric Voskuil


‘Bitcoin Always Needed More Than One Body of Developers’: An Interview With Libbitcoin’s Eric Voskuil
http://bit.ly/1KZ1WDZ

Submitted March 01, 2016 at 01:09AM by Lekska
via reddit http://bit.ly/1QgWH1c

Question about Fees and Bitcoin in the Third World


Question about Fees and Bitcoin in the Third World

I remember some time back, one of the things that I found exciting about bitcoin was the cheap cost of a transaction that made the use of bitcoin feasible in the third world for the "underbanked" (i.e. people who do not have access to a bank account). If the cost of transactions were to be driven up during this point in time of bitcoin's development and before the underbanked around the globe have a chance to adopt the bitcoin technology, would that not make transactions for poor third world countries prohibitively costly? In richer countries, I feel that $0.02 or $0.04 for a transaction is annoying but not a big deal, but for people in other countries who earn much less per day that the richer world – wouldn't higher transaction fees make bitcoin less attractive and take away a very attractive use case? Or would the goal be to provide them with an alternative layer on top of bitcoin in which they can transact? And if so, what would the cost structure and infrastructure for that layer be like?

I think it would be great and a major plus for the bitcoin ecosystem and community if the bitcoin technology or a bitcoin based solution were the solution of choice to support the underbanked around the globe.

Submitted March 01, 2016 at 03:00AM by penny793
via reddit http://bit.ly/1SdnwWI

Any comment from Core/Blockstream about the current situation?


Any comment from Core/Blockstream about the current situation?

Can we have a discussion about how the TX backlog is good for Bitcoin?

Submitted March 01, 2016 at 04:06AM by segregatedwitness
via reddit http://bit.ly/1T4yWgz

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