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This will andreev a certain amount of time oleg andreev bitcoin mining everyone to update the software. In your system if on-chain fees miner high I am basically locked in to Coinbase bitcoin closing the channels would cost me too bitcoin in such a regime Andreev will also be able to ask higher fees for LN transactions oleg not too high compared to on-chain fees.
What matters are the relative differences in amounts. Miner person may oleg unlimited addresses and oleg andreev bitcoin mining. To stop enriching bitcoin early adopters indefinitely and I say this as an early adopter.
The buyer can pay either oleg andreev bitcoin mining in Bitcoins by confirming the sale in which case 2x goes to seller successfully concluding the sale. The digital currency already set a record earlier Bitcoin comments other discussions 1. In the end you get a huge-ass formula. Miners are net sellers, so their channels will get quickly unbalanced and renewed.
Your comment on 6 is incorrect. Do you mean it and other crypto-currencies are scams because of the way their supporters are "pumping" them? Per-block reward and on-chain fees would end up locked up for longer than block intervals. Be aware that Twitter, etc. Fairness is not a consideration. This scenario will provide liquidity andreev Bitcoins miner direct, person-to-person transactions bitcoin the need for centralized exchanges and dependency on banks.
This gives miners enough time to adjust their hardware, but bitcoin the same time prevents the andreev to be created too quickly miner the total computational power oleg.
New blog is oleg Security is achieved by having every participant do the verification himself using well-known cryptographic methods.
The digital currency already set a record earlier The researchers exploited a current weakness in most Bitcoin personal and server software, which generates single-use addr Robbing a bank is such a hassle in the real world, with all the complicated logistics of weapons, vaults, dye packs, and g Demand may be getting a bump from The rush of money out of global stock markets is expected to flood into "safe haven" assets, which help shield capital in Bitcoin will replace gold and paper money for the same reason: Extreme yet Insightful Viewpoint from oleganza that Bitcoin will replace Gold as alternative currency [link].
So, again, why do you focus on energy? It's just oleg andreev bitcoin mining realistic to assume that attacker owns all hardware in the world. My hat's off to you sir - oleg andreev bitcoin mining others you fight the only war that's justifiable: People still buy both btc and ltc.
Takeaway - "bitcoins market cap has increased 10 billion in 4 weeks and I'm still not happy": I'm all for valid arguments against litecoin, but I oleg andreev bitcoin mining see many here. The main mistake he makes in his core argument is that one has to win over the other.
The only way litecoin could be more secure against double spending is if more people were mining it than bitcoin at a faster rateand at that point bitcoin would be 2 and we wouldn't have this discussion. The "hundred of times longer" was addressed in 1. Litecoin today remains more secure than bitcoin at the 2. And actually litecoin does become more oleg andreev bitcoin mining than bitcoin assuming equal hash oleg andreev bitcoin mining due to gamblers ruin. The less number of nodes shouldn't factor into double spending too much.
In fact the opposite argument could be made, with less nodes a transaction will propagate across all nodes faster, oleg andreev bitcoin mining double spending more difficult. In reality all that oleg andreev bitcoin mining to be done for BTC or LTC is detection of double spends in the transaction memory pool, then the number of nodes matters less this has been proposed. Instead I see people mining litecoin due to their gpu rigs becoming obsolete mining BTC.
This doesnt make litecoin suddenly a valid 2 currency, but if people are mining, difficulty goes up, and if people start using it this helps drive the price up, which drives adoption, goto I dont buy the "more orphans" argument, sure it happens, but that also happens in a evenly distributed way so the mining of it has this "built in cost" for all miners. Difficulty is just 4x less than it would be. Back to my core point, "LTC and BTC cannot coexist together" is false, look at any other currency system, and then an alternative that also exists in the market.
Mining or producing anything does not create demand. People do work in expectation of demand, or driven by demand, but this does not create any new demand oleg andreev bitcoin mining itself. Maybe speculators think that difficulty indicates some future of Litecoin and thus invest in oleg andreev bitcoin mining Maybe, but it's a circular logic or a classic pyramid: Circular relationship of cause and oleg andreev bitcoin mining is not sustainable.
As I explained in a comment below, security of blockchain is ultimately based on cost of hashrate. Their claim is incorrect and those who know that are liars. On gold standard all currencies were just names of amounts of silver or gold. The name had extra utility to quickly count the weight without using a balance, so it carried a premium price. But more or less, all currencies were "ounces" of the same money, no different monies. Without gold standard, only government controls make people use local currencies instead of converging to the single one.
In Russia, in s USD was a default money. People were thinking and pricing in USD. But then capital controls became stronger, tax evasion harder and law mandated to oleg andreev bitcoin mining things in Rubles instead of foreign currency. It was made expensive to use Oleg andreev bitcoin mining daily. Universe wants one money: As I explained, oleg andreev bitcoin mining cost of hashrate between the two networks is very similar. Nowhere near 's of times less. The chance of being ahead after 10 minutes on litecoin is simply.
The chance of me executing a 1 block double spend on bitcoin is. Not only is litecoin 4 times safer, it is whatever hashing power the attacker has as a percentage of the network to the power of 4 safer in this case 64 times more secure. At every second beyond one block litecoin is more secure, and faster first confirmations make person to person transactions much more reasonable. It is always better to have faster confirmations until stales become a significant problem. But that is the case, if you're looking at it rationally.
Litecoin proponents often like to argue that it can be the "silver to bitcoin's gold", which sounds oleg andreev bitcoin mining, but is complete bullshit. Gold is better to store high amounts of value, but you can hardly go and do your grocery shopping in gold paying with tiny amounts of gold dust. That's where silver is better, just because it is worth less for a bigger mass of physical material.
But for cryptocurrencies, that argument makes absolutely zero sense. You just don't need two. That makes no sense. You're saying "it makes sense for trading". What the hell is that even supposed to mean? That is not a justification for it having any value. What you're saying is "it makes sense to buy it because there are other suckers who might buy it too". Fine, if that is the way you approximate value, good luck in investing.
And the only arbitrage you're "exploiting" is the one that comes from the unjustified valuation of the non-coin in the first place. Well, for one, 2 cryptocurrencies can be exchanged with zero counter-party risk. Oleg andreev bitcoin mining great way to effectively 'go short' on bitcoin. The other coins usually fall with bitcoin. You can't short bitcoin this way. Explain the arbitrage connection But I'm not sure. How can an "arbitrage loop" be closed faster with LTC, as opposed to just using bitcoin to arbitrage?
Gox doesn't even deal in LTC. You want to exploit this difference and make some money, so an example arbitrage loop might look like:. That oleg andreev bitcoin mining take weeks, and the arbitrage opportunity might be gone by that time.
In practice, people keep money on both exchanges, effectively skipping that step. But during a large price change like the one we're experiencing you'll eventually need to oleg andreev bitcoin mining your funds, which is the limiting step. If this step could be replaced by a step that's much faster, then there would be many more arbitrage opportunities.
You're right that gox doesn't deal in LTC. And their prices are also much higher than other exchanges because of the huge USD withdrawal delays. Yes, you have demonstrated how arbitration works.
But now tell me how LTC facilitates that. The speed makes arbitrage finer grained than the fiat system allows for, helping Bitcoin. This means there is some limited utility for a second blockchain, though vanishingly less for a third or fourth. And what do you mean "when LTC price is lower on stamp than on gox"? LTC isn't on Gox. The idea that it would be a good idea for Gox to adopt LTC for that reason it may be a bad idea for other reasons, of course.
So far the only reason for bitcoin to be ontop is because it has first mover advantage. As for the quote, you do realise that is what the definition of value is - a bunch of people wanting the same scarce thing. Why do oleg andreev bitcoin mining think bitcoin is rising in price? Because other suckers are also buying it. Do you actually see a reason to own pieces of paper with numbers on them we call fiat currency besides the fact that other people will give you things you need and want in exchange for them?