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(The Stack)   All those cool things Bitcoin can do (besides trading money) is killing Bitcoin   (thestack.com) divider line
    More: Misc, Bitcoin blockchain, Bitcoin OP RETURN, OP_RETURN metadata feature, field data limit, Future, Time, blockchain messaging systems, segmented archive recombination  
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3045 clicks; posted to Fandom » and Business » on 06 Feb 2017 at 5:50 PM (4 years ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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View Voting Results: Smartest and Funniest
 
ZAZ [TotalFark]
2017-02-06 10:43:32 AM  
in a similar manner to segmented archive recombination (from the days where large files would be split across multiple posts in newsgroups, with the user tasked with their reassembly after downloading)

Those were the days. Scanners were rare, and digital cameras were barely available. But paying for porn (or titillating images) was still an unwelcome option. So if you wanted the scan of some hot actress you went to the newsgroups relying on the charity of people with better technology. If somebody had been charitable you had to find 7 posts the scanned photo was split into (one was often missing), save them, run a shell command like cat chick* | uudecode, and you had a low resolution 640x480 image of some semi-famous chick in her underwear. Like digital photography, perl grew rapidly around that time and serious collectors had scripts to do the work.  And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

(There was also file trading via FTP, which relied on a friendly sysadmin on a machine with a good network connection and a tolerant network operations group.)
 
2017-02-06 12:10:15 PM  
Like watch its value drop 50% in one day?  That was pretty cool.
 
2017-02-06 12:31:52 PM  
That's an unavoidable 'feature' of blockchain technology.  If you want non-repudiation, you're going to have exponential growth in the amount of processing power and memory it takes to run a transaction.
 
2017-02-06 4:41:40 PM  
I don't 100% understand this, other than this part:

"binary newsgroups were undertaking in the pre-broadband age."

so it's like how (often) illegal software and the like were traded using ASCII characters, which then were re-compiled into binary or whatever?

Maybe someone can explain the "too long; but did read" to me?
 
2017-02-06 4:44:38 PM  

ZAZ: in a similar manner to segmented archive recombination (from the days where large files would be split across multiple posts in newsgroups, with the user tasked with their reassembly after downloading)

Those were the days. Scanners were rare, and digital cameras were barely available. But paying for porn (or titillating images) was still an unwelcome option. So if you wanted the scan of some hot actress you went to the newsgroups relying on the charity of people with better technology. If somebody had been charitable you had to find 7 posts the scanned photo was split into (one was often missing), save them, run a shell command like cat chick* | uudecode, and you had a low resolution 640x480 image of some semi-famous chick in her underwear. Like digital photography, perl grew rapidly around that time and serious collectors had scripts to do the work.  And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

(There was also file trading via FTP, which relied on a friendly sysadmin on a machine with a good network connection and a tolerant network operations group.)


I remember all of this very, very well.  Around 1994-1996-ish for me, though I assume it existed well before that.

Yeah, and I remember the somewhat open FTP servers and the like.  Heh.

Good times.  This will all be forgotten about soon enough, if it essentially hasn't already.  It was a fun community, if you want to use that word.
 
2017-02-06 6:02:55 PM  

ZAZ: perl grew rapidly around that time and serious collectors had scripts to do the work. And then the web took over and scanners and cameras followed Moore's law ending as consumer products.


geomancy.netView Full Size


// I also ran fserves on IRC
 
2017-02-06 6:23:56 PM  
Bitcoin is primarily used to pay ransoms.  That seems to be its de facto purpose.
 
2017-02-06 6:30:57 PM  

lordargent: ZAZ: perl grew rapidly around that time and serious collectors had scripts to do the work. And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

[www.geomancy.net image 276x336]

// I also ran fserves on IRC


Agent was awesome. I was 13, and had access to everything. Porn, warez, you name it.

Also, bitcoin doesn't look like it is dying right now. It is over $1000
 
2017-02-06 6:35:00 PM  

lordargent: ZAZ: perl grew rapidly around that time and serious collectors had scripts to do the work. And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

[www.geomancy.net image 276x336]

// I also ran fserves on IRC


There's also the open-source Pan newsreader, which I think is still being actively maintained.
 
2017-02-06 6:39:58 PM  
Ok, I'm not exactly a tech expert but I'm no noob. I can usually at least grasp the concepts in high level tech talk, I even understand what a block chain is.  But just about zero of that made any sense to me. Is there a cliff notes version?
 
2017-02-06 6:46:09 PM  

wax_on: Ok, I'm not exactly a tech expert but I'm no noob. I can usually at least grasp the concepts in high level tech talk, I even understand what a block chain is.  But just about zero of that made any sense to me. Is there a cliff notes version?


Seemed pretty straightforward.  People are storing all kinds of extra crap in the blockchain and it's slowing things down and getting in the way of the normal transactions... Like using hundreds of browser cookies to encode and store your video collection.
 
2017-02-06 7:00:44 PM  

downstairs: I don't 100% understand this, other than this part:

"binary newsgroups were undertaking in the pre-broadband age."

so it's like how (often) illegal software and the like were traded using ASCII characters, which then were re-compiled into binary or whatever?

Maybe someone can explain the "too long; but did read" to me?


People seem to have found a way to turn the Bitcoin blockchain into their own personal cloud storage device.
 
2017-02-06 7:08:56 PM  
killing Bitcoin

any day now, I'm sure.
 
2017-02-06 7:10:06 PM  
Bitcoin is like Trump - it's not ONLY used by terrible people, but it's sure #1 among terrible people.
 
2017-02-06 7:14:28 PM  
Bitcoin still exists?
 
2017-02-06 7:17:17 PM  
It ain't dead yet, but Bitcoin is doomed by its own fundamentals.

And now it's wasting Fark space too. What happened, did Slashdot finally kick the cult's pump posts to the curb?
 
2017-02-06 7:19:51 PM  

Far Cough: Bitcoin is primarily used to pay ransoms.  That seems to be its de facto purpose.


Correct.

There would be no ransomware without Bitcoin.
 
2017-02-06 7:30:49 PM  

ZAZ: in a similar manner to segmented archive recombination (from the days where large files would be split across multiple posts in newsgroups, with the user tasked with their reassembly after downloading)

Those were the days. Scanners were rare, and digital cameras were barely available. But paying for porn (or titillating images) was still an unwelcome option. So if you wanted the scan of some hot actress you went to the newsgroups relying on the charity of people with better technology. If somebody had been charitable you had to find 7 posts the scanned photo was split into (one was often missing), save them, run a shell command like cat chick* | uudecode, and you had a low resolution 640x480 image of some semi-famous chick in her underwear. Like digital photography, perl grew rapidly around that time and serious collectors had scripts to do the work.  And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

(There was also file trading via FTP, which relied on a friendly sysadmin on a machine with a good network connection and a tolerant network operations group.)


Lord, finding porn in the woods sounds easier than that.
 
2017-02-06 7:54:33 PM  

madgonad: Far Cough: Bitcoin is primarily used to pay ransoms.  That seems to be its de facto purpose.

Correct.

There would be no ransomware without Bitcoin.


Not sure if serious.  Correlation is not causation. Mileage may vary.
 
2017-02-06 7:58:01 PM  
The real problem is that bitcoin is well under 10 transactions per second (tps) and hasn't scaled at all over the last few years.   This will relegate it to a sideshow currency.  For reference, Visa handles a peak of roughly 10,000 tps.

Are there solutions?  Yes but all of them require adoption by the majority of bitcoin miners and so far the inertia due to lack of any organized governance has been insurmountable.

Will bitcoin go away? Probably not, but it looks like it will never scale beyond being a minor part of the global monetary system.
 
2017-02-06 8:04:10 PM  

BadReligion: lordargent: ZAZ: perl grew rapidly around that time and serious collectors had scripts to do the work. And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

[www.geomancy.net image 276x336]

// I also ran fserves on IRC

Agent was awesome. I was 13, and had access to everything. Porn, warez, you name it.

Also, bitcoin doesn't look like it is dying right now. It is over $1000


Time to buy buy buy!
 
2017-02-06 8:05:15 PM  

bonobo73: The real problem is that bitcoin is well under 10 transactions per second (tps) and hasn't scaled at all over the last few years.   This will relegate it to a sideshow currency.  For reference, Visa handles a peak of roughly 10,000 tps.

Are there solutions?  Yes but all of them require adoption by the majority of bitcoin miners and so far the inertia due to lack of any organized governance has been insurmountable.

Will bitcoin go away? Probably not, but it looks like it will never scale beyond being a minor part of the global monetary system.


I still don't understand bitcoin and what it's value is.  I understand it is a form of currency, and can be traded like Forex.  Other than that, its real-world use... it's base reason for existing... I do not understand.

I guess it's somehow an ability to transact "money" that cannot be tracked?  Am I right?

You can call me dumb.  I can be.  I just haven't researched it.  I get little points about it, but the whole ecosystem, down to its base reason for existing... my head doesn't have that information stored.
 
2017-02-06 8:05:52 PM  

Shakin_Haitian: BadReligion: lordargent: ZAZ: perl grew rapidly around that time and serious collectors had scripts to do the work. And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

[www.geomancy.net image 276x336]

// I also ran fserves on IRC

Agent was awesome. I was 13, and had access to everything. Porn, warez, you name it.

Also, bitcoin doesn't look like it is dying right now. It is over $1000

Time to buy buy buy!


Can one short bitcoin?  Can you use options strategies on it?  Just curious.
 
2017-02-06 8:07:37 PM  

lordargent: ZAZ: perl grew rapidly around that time and serious collectors had scripts to do the work. And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

[www.geomancy.net image 276x336]

// I also ran fserves on IRC


Agent + PAR files = win
 
2017-02-06 8:22:09 PM  

bonobo73: The real problem is that bitcoin is well under 10 transactions per second (tps) and hasn't scaled at all over the last few years.   This will relegate it to a sideshow currency.  For reference, Visa handles a peak of roughly 10,000 tps.

Are there solutions?  Yes but all of them require adoption by the majority of bitcoin miners and so far the inertia due to lack of any organized governance has been insurmountable.

Will bitcoin go away? Probably not, but it looks like it will never scale beyond being a minor part of the global monetary system.


"Solutions"? Fark off. There's no solution to the issue of linear adoption requiring exponential processing and storage.

The only "solution" is to centralize and trust, and that's the opposite of what Bitcoin is supposed to do.

We already have debit cards and payment networks that do a far, far better job, for less cost and trouble.
 
2017-02-06 8:49:13 PM  
I read the whole thing and understood every word. Just like the first time I read a brief history of time when I was 19.
 
2017-02-06 9:22:48 PM  
I remember when yEnc on newsgroup binaries was a heated, controversial topic.

yEnc had less overhead and was obviously superior to uuencoding, but the purists didn't like that it ran afoul of other binary/mime specs.   Ah, if only we could bring those days back... the days of free, open nntp servers.
 
2017-02-06 10:28:43 PM  

downstairs: Shakin_Haitian: BadReligion: lordargent: ZAZ: perl grew rapidly around that time and serious collectors had scripts to do the work. And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

[www.geomancy.net image 276x336]

// I also ran fserves on IRC

Agent was awesome. I was 13, and had access to everything. Porn, warez, you name it.

Also, bitcoin doesn't look like it is dying right now. It is over $1000

Time to buy buy buy!

Can one short bitcoin?  Can you use options strategies on it?  Just curious.


If you have a brokerage account, you can short GBTC:

https://finance.yahoo.com/quote/gbtc?ltr=1

It pretty volatile:   52 Week Range:  41.00 - 152.00

The Winklevoss twins have a bitcoin fund that will be trading soon ( if they get approved by the SEC ).
 
2017-02-06 11:39:45 PM  

downstairs: bonobo73: The real problem is that bitcoin is well under 10 transactions per second (tps) and hasn't scaled at all over the last few years.   This will relegate it to a sideshow currency.  For reference, Visa handles a peak of roughly 10,000 tps.

Are there solutions?  Yes but all of them require adoption by the majority of bitcoin miners and so far the inertia due to lack of any organized governance has been insurmountable.

Will bitcoin go away? Probably not, but it looks like it will never scale beyond being a minor part of the global monetary system.

I still don't understand bitcoin and what it's value is.  I understand it is a form of currency, and can be traded like Forex.  Other than that, its real-world use... it's base reason for existing... I do not understand.

I guess it's somehow an ability to transact "money" that cannot be tracked?  Am I right?

You can call me dumb.  I can be.  I just haven't researched it.  I get little points about it, but the whole ecosystem, down to its base reason for existing... my head doesn't have that information stored.


The crazy thing is that it CAN be tracked. It is tracked. The blockchain records every transaction. It is just encrypted.

There have been proposals to replace US currency with a centrally controlled blockchain currency similar to Bitcoin that allows the government to access the ledger of any fraction. It would end money laundering and allow the government to freeze all American currency held in an account or a set of accounts. The dollar could not be used for drugs or any other purpose the government would deem illegal.

If course it would just make someone else's currency that much stronger and weaken our fiscal clout around the world. They'd just end up using the ruble or the pound sterling or the loony.
 
2017-02-06 11:53:25 PM  

Shakin_Haitian: Time to buy buy buy!


Mortimer.
 
2017-02-06 11:56:11 PM  

downstairs: bonobo73: The real problem is that bitcoin is well under 10 transactions per second (tps) and hasn't scaled at all over the last few years.   This will relegate it to a sideshow currency.  For reference, Visa handles a peak of roughly 10,000 tps.

Are there solutions?  Yes but all of them require adoption by the majority of bitcoin miners and so far the inertia due to lack of any organized governance has been insurmountable.

Will bitcoin go away? Probably not, but it looks like it will never scale beyond being a minor part of the global monetary system.

I still don't understand bitcoin and what it's value is.  I understand it is a form of currency, and can be traded like Forex.  Other than that, its real-world use... it's base reason for existing... I do not understand.

I guess it's somehow an ability to transact "money" that cannot be tracked?  Am I right?

You can call me dumb.  I can be.  I just haven't researched it.  I get little points about it, but the whole ecosystem, down to its base reason for existing... my head doesn't have that information stored.


The one kinda-sorta reasonable justification I've come across is that it allows companies like Coinbase to provide payment-processing services similar to those of Visa, but with much lower fees.  I think I read somewhere that Coinbase was planning to charge a merchant fee of 0.5%, compared to Visa's 2%.

At least that was the theory.
 
2017-02-07 1:54:22 AM  

Sum Guye: Shakin_Haitian: Time to buy buy buy!

Mortimer.


I read that in Jim Cramer's voice
 
2017-02-07 2:16:35 AM  

Igor Jakovsky: ZAZ: in a similar manner to segmented archive recombination (from the days where large files would be split across multiple posts in newsgroups, with the user tasked with their reassembly after downloading)

Those were the days. Scanners were rare, and digital cameras were barely available. But paying for porn (or titillating images) was still an unwelcome option. So if you wanted the scan of some hot actress you went to the newsgroups relying on the charity of people with better technology. If somebody had been charitable you had to find 7 posts the scanned photo was split into (one was often missing), save them, run a shell command like cat chick* | uudecode, and you had a low resolution 640x480 image of some semi-famous chick in her underwear. Like digital photography, perl grew rapidly around that time and serious collectors had scripts to do the work.  And then the web took over and scanners and cameras followed Moore's law ending as consumer products.

(There was also file trading via FTP, which relied on a friendly sysadmin on a machine with a good network connection and a tolerant network operations group.)

Lord, finding porn in the woods sounds easier than that.


This is how I got my first Cindy Crawford pic but pretty soon found programs would do the work for you. Uudecode I think.
 
2017-02-07 8:25:14 AM  

Sum Guye: Shakin_Haitian: Time to buy buy buy!

Mortimer.


img.fark.netView Full Size
 
2017-02-07 3:59:52 PM  
BolloxReader:

If course it would just make someone else's currency that much stronger and weaken our fiscal clout around the world. They'd just end up using the ruble or the pound sterling or the loony.

Reserve currency doesn't work that way.
 
2017-02-07 7:06:23 PM  

Ashelth: BolloxReader:

If course it would just make someone else's currency that much stronger and weaken our fiscal clout around the world. They'd just end up using the ruble or the pound sterling or the loony.

Reserve currency doesn't work that way.


It could happen if the U.S. did something as monumentally stupid as making bitcoin the national currency.
 
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