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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<timeoutlinux> hi
<kanzure> timeouts are just timeowls in disguise.
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<Taek> Ethereum currently offers a lot of financial freedom that you can't find elsewhere
<Taek> basically, as a common, non-wealthy person you are able to invest in startups
<Taek> you can't do that anywhere else, you have to be accredited and most startup founders would laugh you out the door if you couldn't put up at least 5 figures
<Taek> but with an ICO you can put up $100, $200, whatever, and it's really fun
<Taek> the next few years might end up being a strong reminder of why regulators require startups to have accredited investors though
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<mryandao> how is that ^ technical merit?
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<yoleaux> [bitcoin-dev] Small Nodes: A Better Alternative to Pruned Nodes
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<vega4> quick question: when calculating appropriate blockSize/blockCreation ratio; what number of hops for block propagation should one assume?
<vega4> I mean I need the number of hops to assess the time needed for a block to propagate through two most distant points in the network. for example when 1 black is created in europe and the other one in new zeland. taken certain average connection speed between miners
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<vega4> since the mining nodes already form a bus-like-structure I would say that the number of hopes surely is below 5 or am I terribly wrong
<vega4> *hops
<vega4> data flows through routers in symmetric way but transmission of blocks is assymetric from miner to miner
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<Taek> vega4: I don't have a super strong grasp on the topogy, but most miners are hooked up to a highly specialized network. Either the Relay Network or FIBRE
<Taek> They are low hop count networks optimized around preforwarding as much data as possible and getting headers around the world very quickly
<vega4> okey;P I need to do some ovaluations for my new paper have a few hours left.... but after looking at SAFE Coin; I came to realise that it is better not to publish any results just to say that it works
<Taek> well under a second
<vega4> am I to write in my paper that I get a bottleneck at 100 000 simultanous connections due to a block size limit;sounds like a con.... hell I wonder if they've even thought about such things in Safe net; well I forgot... they give out reards on a lottery
<vega4> I've read just first few pages on bitcoin talk...elite members writing that it is a prominent coin... no questions related to bottlenecks protocol.nothing strange environment it is
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<vega4> thay've already filed for 15 patents; as soon as I'm node I NEED to see it
<Taek> I've never even heard of it fwiw. And where are you getting the number 100 000 for number of simultaneous connections?
<Taek> oy vey. Patented cryptocurrency is entirely worthless
<vega4> sure it is
<vega4> yet they get millions of usd in funding
<Taek> what's the point of decentralization if a court can order you to stop using the software?
<vega4> well why 100 000 you ask
<vega4> well.. the number differs
<vega4> based on path length
<vega4> path variations in time
<vega4> the more intermediaries the bigger onion structure in my protocol and the onio structure contains encrypted IDs of intermediaries
<vega4> and that little thing among with few others need to get into the BC
<Taek> ok. My intuition tells me that if you were to deploy some sort of test network you would get very different numbers
<vega4> hell; In my protocol I cointed the term state-less channel xd wait and you will see
<vega4> like what?
<vega4> what kind of numbers do you have in mind
<vega4> blocksize 18MB interval 8 minuts
<Taek> not sure, but 100k seems very optimistic
<vega4> haha
<vega4> tell me what numbers did you have in mind
<vega4> yes IT IS sort of optimistic;d
<vega4> .....
<vega4> let me get back to my simulation and you tell me what numbers you had in mind;P
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<vega4> in my protocl you can get well over 500 000 simulatenous connections if there is 1 HOP and 1 path changes/hour ;d
<vega4> traffic overhead at 41%
<vega4> 49% I mean 41% with some kind of optimisation
<Taek> I would need to understand the protocol better, including what hardware you are talking about. Perhaps best for me to wait to comment though until you are further along
<vega4> http://locayt.com/gridnet.pdf that was an intro
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