#bitcoin-wizards on 2016-03-03 — irc logs at freenode.irclog.whitequark.org

2015-10-30 00:53 sipa changed the topic of #bitcoin-wizards to: This channel is for discussing theoretical ideas with regard to cryptocurrencies, not about short-term Bitcoin development | http://bitcoin.ninja/ | This channel is logged. | For logs and more information, visit http://bitcoin.ninja

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00:23 <Luke-Jr> Taek: can we drill holes in the walls?

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00:30 <Taek> uh. defintely not

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00:34 <TD-Linux> luckily there are a lot of other ways besides drilling to make holes in walls.

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01:01 <Luke-Jr> Taek: sorry, bad joke.

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01:23 <maaku> one way to achieve consensus is to be the last man standing

01:24 <smooth> bitcoin is so sexist

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02:00 <Luke-Jr> maaku: lol

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05:11 <bsm1175321> I'll be there this weekend.

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15:28 <kanzure> https://vote.heliosvoting.org/docs

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15:32 <Taek> does not solve Sybil attacks, still need some way to verify that each ballet corresponds to a legitimate voter who only got one vote.

15:32 <Taek> nonetheless a cool technology

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16:32 <fluffypony> Taek: each ballet? like Swan Lake?

16:32 * fluffypony pedantries all the way to the front of the line

16:32 * Taek never knew there was a ballot

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17:24 <OxADADA> what would be Blockstreams incentives to limit the blocksize?

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17:34 <andytoshi> OxADADA: not here, please. this is not a political channel

17:35 <OxADADA> done. took it elsewhere.

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22:06 <tromp_> mining is a concensus building puzzle solving competition

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22:11 <Eliel> tromp_: I like that :)

22:12 <JackH> hmm, I need more text

22:13 <JackH> and it is too vague

22:13 <waxwing> mining is like a peacock's feathers or a stag's antlers

22:13 <JackH> ahh yes!

22:13 <JackH> I will go with then

22:13 <JackH> :D

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22:19 <amiller> maning is solving complex physics problems called bitcoins

22:19 * nsh smiles

22:20 <veridium> s/h/a

22:20 <veridium> s/'/'/'/'/a

22:20 <veridium> no

22:20 <veridium> wait

22:20 <veridium> s/'/'/'/'/''

22:22 <veridium> still wrong

22:22 <veridium> substitute slash for null

22:29 <JackH> hmm

22:29 <JackH> we need much longer sentences

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22:34 <harding> JackH: on which page(s) did bitcoin.org get it wrong?

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22:37 <tromp_> mining is a mechanism for converting energy into agreement

22:40 <JackH> sec harding

22:40 <JackH> it sounds like it is a processing service

22:40 <JackH> it just sounds wrong

22:40 <JackH> Mining

22:40 <tromp_> or a way to sell a piece of (transaction) history to the highest computational bidder

22:40 <JackH> Bitcoin mining is the process of making computer hardware do mathematical calculations for the Bitcoin network to confirm transactions and increase security. As a reward for their services, Bitcoin miners can collect transaction fees for the transactions they confirm, along with newly created bitcoins. Mining is a specialized and competitive market where the rewards are divided up according to how much calculation is done. Not all Bit

22:40 <JackH> https://bitcoin.org/en/vocabulary

22:40 <JackH> coin users do Bitcoin mining, and it is not an easy way to make money.

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22:42 <JackH> which brings us back to -> we could use a very nice sounding definition of the mining process itself

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22:46 <tromp_> feel free to improve the wiki

22:47 <tromp_> oh wait. it's not a wiki. who runs this website?

22:48 <JackH> the wiki is alright, but vague

22:48 <JackH> we still miss the 3-4 punchlines of what miners actually do

22:48 <harding> JachH: Mining is the process of placing valid Bitcoin transaction in logical order so that the blockchain can be parsed sequencially, as well as the process of protecting each block with accumlatable proof of work so that changing that block also requires changing all of that block's descendents.

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22:49 <harding> That could probably use some improvement, but is it generally what you're looking for?

22:49 <nsh> except for the wrong bits :)

22:49 <tromp_> harding: are you the listed Inactive Contributor on https://bitcoin.org/en/about-us ?

22:49 <harding> tromp_: yes.

22:49 <JackH> yeah that has a good sound to it harding

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23:12 <harding> Mining is the process of ordering valid Bitcoin transactions and chaining groups (blocks) of them together using hash-based references, merkle trees, and proof of work so that a blockchain can be parsed

23:12 <harding> sequencially and compared to other blockchains based on the total amount of work expended in generating each chain, allowing individual software to independently come to agreement that the chain of valid blocks

23:12 <harding> containing the most work is the current record of transaction history.

23:13 <JackH> yup, this sounds wikipedia monotone style! very nice

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