snip
Which is what makes the statements from some Classic supporters so ridiculous, they first want to replace 45 developers from many backgrounds and many different companies with 5 devs from 2-3 companies, than when that fails they threaten to sell their BTC for ETH which is controlled completely by 1 dev ... all because they "distrust authority." Perhaps the reality has nothing to do with decentralization of development (There always has been multiple implementations with different dev teams) , but a fixation of growing fast and ignoring all concerns along the way. Or simply some developers have succumb to the effects of blind greed/fear. |
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What are you doing here? you're trying to talk about trading and btc price? Hey! Here it's not a thread for that! It's a thread for... Oh wait...  It has been surprisingly stable. |
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The Pic speaks for it self
This is a Bitcoin thread in the Bitcoin section, so you shouldn't be promoting altcoins here. Neverheless ethereum's only gone up by 10.57%. Why did you omit dogecoin which has surpassed it by going up by 11.11%? You showed dash at 5th place which has crashed, but omitted dogecoin at 6th place. Dogecoin has been pumped numerous times, and ethereum's being pumped like any other altcoin. dash, Litecoin, Dogecoin.... and so many other coins are just a Bitcoin copy cats, Bitcoin's limitations will apply on all the Bitcoin forks, in the other hand you have ETH which is a kick ass platform. BTW: you don't get to tel me what I can discuss and what not especially in this thread and in this sub-forum. period. It's not me that tells you what you can discuss, it's the mods. This is what Lauda (a mod) has to say about a post just like yours in the Bitcoin discussion board. He says making a price comparison isn't a discussion related to Bitcoin. That post also starts with a coinmarketcap screenshot. No it's not. This is Bitcoin related. Far superior tech replacing your precious BTC.
This is a discussion about another useless coin. This is not related to Bitcoin (making a price comparison != related to Bitcoin/B. Discussion). I will say that at the All-Star Panel: with Ed Moy, Joseph VaughnPerling, Trace Mayer, Nick Szabo, Dr. Craig Wright there was the topic of incorporating ETH concepts into Bitcoin. Were they suggesting that such a thing would potentially "obs" the ETH concept as redundant? Watch it and give us your perspective  https://www.youtube.com/watch?v=LdvQTwjVmrE |
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In all seriousness apart from the mining hardware race. Mining was a voluntary service given to use bitcoin much like any distributed computing projects that you can participate on using BOINC clients.
Where you get such wacky ideas I'll never know... Back when CPU's was the thing everyone and their dog would run nodes and self mine before pools. Simply before the migration from solo mining to pools and CPU's to GPU's and GPU's to FPGA and later ASIC's. |
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If you are referring to pool and network computation share of the pie than what you see are the results of pool participants that can easily direct their hardware at other locations if the need arises. That hash-power is migratory.
The changing landscape of the infrastructure that supports bitcoin is constantly evolving and to think the old rules apply is short sighted understanding.
Lolno. The hashpower stays where electricity costs are low/government subsidized: China.It is true that mining has been a community service for-profit business more than a self sustaining endeavor that would will "not" result in short or long turn profit with out further subsidies outside of the bitcoin rewards. Fixed that. Fixed that. In all seriousness apart from the mining hardware race. Mining was a voluntary service given to use bitcoin much like any distributed computing projects that you can participate on using BOINC clients. |
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I think you may be trolling however for those that may be reading your reply then please indulge further. #1 The "hashpower" is migratory and can move in less time than it takes for you to wire funds to your
The physical bitcoin mines cannot be moved easily. The ChiComs can nationalize them, merge the pools and double spend until we fork away from them. Then they can point at the new fork and do it again. Only forking away from SHA256 can stop them. You can imagine the damage that will do. Physical bitcoin mines tend to shutdown due to obsolete hardware when new technology goes online. Most recently the new ASIC chips 0.06J/GH vs the best bitmain has to offer that was recently sold at 0.25J/GH or the older hardware of 0.55J/GH. What I was making reference to is that people who point hardware at the pools can point them to other pools rather simply. Many have backup pools pre-programmed for any downtime the primary target pool has. |
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"One could even go so far as to claim the current banking system is more decentralized than bitcoin at this point. The Federal Reserve is composed of 12 banks across the country which then lend money to the nearly 7,000 banks in the country, not to mention the thousands of credit unions as well. On the other hand, bitcoin (although still in its infancy) is currently managed primarily by four large mining pools, all out of China. While these pools are networks of many individual miners, there is uneasiness about this predisposition."  #1 BTC = Global, not a single country. Which only makes things moar lopsidedly hilarious: Hundreds of central banks, in hundreds of countries, vs. 4 bros in Chian. #2 BTC = Public Ledger and distributed, Unlike banks that don't even trust one another's books.
Bitcoin's core devs are at war with each other :- #3 BTC and its participants can migrate to a better horizon solution at a moments notice. Unlike bank that don't have a trusted backup that they would ever agree on due to political situations and commitments.
"A better horizon solution at a moments notice"? Bitcoin can't even agree on a trivial issue like blocksize in ...how long has this drama been going on? A year? That's right, about a year. Tell me more about "a moments [sic] notice." I think you may be trolling however for those that may be reading your reply then please indulge further. #1 The "hashpower" is migratory and can move in less time than it takes for you to wire funds to your exchange of choice and get transferred to BTC.What does that even mean? The hashpower is a bunch of factory mines in China. They could be banned/seized by the Chinese government (possibly to mine their own crypto, possibly to add some extra "disruptive" to Bitcoin. Migratory? #2 Anyone including you can step up to the plate and provide a solution that will attain consensus But reaching the consensus is nearly impossible, as a year of hilarious infighting has so aptly illustrated. It's a flaw, at the conceptual level. You can't fix it, like you can't fix a broken perpetual motion engine. it's totally forked  #3 "Bitcoin can't even agre"? Bitcoin is not an individual there fore no agreement necessary. What you mention is the different perspectives that people have to resolve issues that may or may not fit into their expectations of what Bitcoin is or should do.
Of course agreement is necessary. Without it you can't solve emerging problems, "at a moments notice" or in a year. Doh. No attempt to present disingenuous views
WTF are disingenuous views?From what I can tell and what I perceive, is that you have a greater understanding to the whole spectrum of what Bitcoin consists of and how each part makes up the project as a hole. However the points you harp on and the way you present them leaves me with the impressions that you are attempting to get people to ignore the important points that should be considered. The way you go on is as a disingenuous person "pretending that one knows less about something than one really does. |
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...
If you are referring to pool and network computation share of the pie than what you see are the results of pool participants that can easily direct their hardware at other locations if the need arises. That hash-power is migratory.
The changing landscape of the infrastructure that supports bitcoin is constantly evolving and to think the old rules apply is short sighted understanding.
Lolno. The hashpower stays where electricity costs are low/government subsidized: China.It is true that mining has been a community service more than a self sustaining endeavor that would result in long turn profit. The sooner people recognize that mining profitably and mining to get a lions share of the daily bitcoin subsidy pool the richer the local economy in that area will be. For instance if a government or corporation recognized the value of mining bitcoin they would subsidies hardware development and support building infrastructures that would employ members of the local community. For one example would be to use bitcoin mining as a way to subsidies operating costs of a power plant. Why have simply the local community pay for the electricity, why not get the global population that use BTC to pay for the power plant operating costs... Wind solar and so on. Many options have presented themselves in China but due to the ever changing landscape of the technology that is used to mine bitcoin being competitive only lasts on average 3 to 6 months before your initial investment costs are no longer recouped and you are forced to "UPGRADE". |
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"One could even go so far as to claim the current banking system is more decentralized than bitcoin at this point. The Federal Reserve is composed of 12 banks across the country which then lend money to the nearly 7,000 banks in the country, not to mention the thousands of credit unions as well. On the other hand, bitcoin (although still in its infancy) is currently managed primarily by four large mining pools, all out of China. While these pools are networks of many individual miners, there is uneasiness about this predisposition." #1 BTC = Global, not a single country. Which only makes things moar lopsidedly hilarious: Hundreds of central banks, in hundreds of countries, vs. 4 bros in Chian. #2 BTC = Public Ledger and distributed, Unlike banks that don't even trust one another's books.
Bitcoin's core devs are at war with each other :- #3 BTC and its participants can migrate to a better horizon solution at a moments notice. Unlike bank that don't have a trusted backup that they would ever agree on due to political situations and commitments.
"A better horizon solution at a moments notice"? Bitcoin can't even agree on a trivial issue like blocksize in ...how long has this drama been going on? A year? That's right, about a year. Tell me more about "a moments [sic] notice." I think you may be trolling however for those that may be reading your reply then please indulge further. #1 The "hashpower" is migratory and can move in less time than it takes for you to wire funds to your exchange of choice and get transferred to BTC.#2 Anyone including you can step up to the plate and provide a solution that will attain consensus #3 "Bitcoin can't even agre"? Bitcoin is not an individual there fore no agreement necessary. What you mention is the different perspectives that people have to resolve issues that may or may not fit into their expectations of what Bitcoin is or should do. No attempt to present disingenuous views will change the fact that bitcoin and this technology has a flexibility that those in the old world are uncomfortable with. Bitcoin and the block chain technology has enabled all participants the ability to choose the best solutions that are put forward. |
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"One could even go so far as to claim the current banking system is more decentralized than bitcoin at this point. The Federal Reserve is composed of 12 banks across the country which then lend money to the nearly 7,000 banks in the country, not to mention the thousands of credit unions as well. On the other hand, bitcoin (although still in its infancy) is currently managed primarily by four large mining pools, all out of China. While these pools are networks of many individual miners, there is uneasiness about this predisposition." #1 BTC = Global, not a single country. #2 BTC = Public Ledger and distributed, Unlike banks that don't even trust one another's books. #3 BTC and its participants can migrate to a better horizon solution at a moments notice. Unlike bank that don't have a trusted backup that they would ever agree on due to political situations and commitments. The list goes on. It is unfortunate to see this disingenuous type of approach to sell sensationalism while masquerading as journalistic reporting. #1 majority hashpower is in China. Chinese mines can be controlled or shut down by the People's Bank or the government. If you are referring to the "manufacturing of asic hardware" than consider that the "hashpower" you refer to is soon (as in the next month or so) to be made obsolete by sources outside china. If you are referring to pool and network computation share of the pie than what you see are the results of pool participants that can easily direct their hardware at other locations if the need arises. That hash-power is migratory. The changing landscape of the infrastructure that supports bitcoin is constantly evolving and to think the old rules apply is short sighted understanding. |
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"One could even go so far as to claim the current banking system is more decentralized than bitcoin at this point. The Federal Reserve is composed of 12 banks across the country which then lend money to the nearly 7,000 banks in the country, not to mention the thousands of credit unions as well. On the other hand, bitcoin (although still in its infancy) is currently managed primarily by four large mining pools, all out of China. While these pools are networks of many individual miners, there is uneasiness about this predisposition." #1 BTC = Global, not a single country. #2 BTC = Public Ledger and distributed, Unlike banks that don't even trust one another's books. #3 BTC and its participants can migrate to a better horizon solution at a moments notice. Unlike bank that don't have a trusted backup that they would ever agree on due to political situations and commitments. The list goes on. It is unfortunate to see this disingenuous type of approach to sell sensationalism while masquerading as journalistic reporting. |
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Splitting a currency unit into two does not dilute the currency any more than moving the decimal point does.
In order to dilute you would need to create new units and issue them to someone other than existing holders.
Well mining does create new units, doesn't it? And instead of having +6mn coins, you then have +12mn due to parallel mining of +3600 coins on each fork. No difference than moving the decimal still. Miners will mine in proportion to the market value of each new coin which means the share of supply held by each existing holder and each miner who spends a given amount of resources on mining will remain the same. Regarding existing holders, if you have your own keys you are relatively ok (minus the obvious destruction of USD value), but the situation with coins in online exchanges and wallets will be "problematic" if say an exchange with 500k BTCs, say 'ok my clients, now you have 500k BTCCs because we adopted this fork' (and we are keeping 500k BTCs of the other fork for ourselves). It would be like stealing BTCs and exchanging them for Gavincoins.
People need to do a bank run in every exchange (maybe even online wallets too) well before we reach the point of the hard fork, to ensure that they have control of their BTCs.
Yes, there are infrastructure issues and issues of fairness with respect to third party custody. Although likely irrelevant now, Cryptsy had something in their Terms of Service that explicitly gave them ownership. That's nuts. Very real issues, but not the same as dilution. Buy BTC and move them off the exchanges sure sounds reasonable and may even spike the value. Thus the best solution is to keep your BTC in a wallet you have direct control over and then you will have the same coins on all network "forks". |
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re Luke-JR and changing over to SHA3: The man seems to go out of his way to find causes to champion, the more hopeless, the better. I first remember paying attention to him when he was acticely pushing tonal notation for Bitcoin. At least that was relatively harmless, if eccentric.
changing over to SHA3 has been proven to be unnecessary for now. |
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if we all buy now we can all sell back higher feel rich as price explodes and we be HODLING.  Adam, Have you heard the news? What do you think? Huge or so so? Happy New Year! We are starting 2016 with some fireworks of our own – Coinsetter is being acquired by Kraken, a premier bitcoin exchange. Read the formal public announcement here: http://www.businesswire.com/news/home/20160119005459/enThis transition will bring huge upgrades to your account, offering domestic US deposit/withdrawal bank transfers, deeper order book liquidity, and improved margin trading. What will happen to my account(s)? On January 26, 2016, Coinsetter will temporarily halt trading and begin the safe migration of all accounts (and funds) to the Kraken platform. This process is expected to take just a few hours. Upon completion, you will be able to log in at www.kraken.com and immediately begin trading with any US dollar (USD) and bitcoin (XBT) funds that are in your Coinsetter account(s) at the time of migration. You will be able to deposit or withdraw bitcoin (XBT) immediately too. After a brief and seamless process to activate your account with SynapsePay, our trusted USD payment processor, you’ll be able to deposit and withdraw USD. Why is this good for me? This is outstanding news for Coinsetter clients. As a Kraken account holder, you will receive: Free domestic USD wire deposits through SynapsePay until March 1 (when the promotion ends, the deposit fee will be $5 flat) Domestic USD wire withdrawals will be $5 flat Low trading fees (via a maker taker model with fees ranging from 0% to 0.26%; read more at https://www.kraken.com/help/fees) Exchange options you have been demanding all along, such as advanced order types for setting profit targets or stops Trade 18 currency pairs, including 5 fiat currencies (USD, EUR, CAD, GBP, JPY) and multiple digital currencies (Ether, Litecoin, etc.) You’ll also get: Superior trading interface 24/7, high touch support including live chat Sophisticated API (documentation: https://www.kraken.com/help/api) iOS app for trading on the go The Coinsetter & Kraken teams i'm a little annoyed that once again i'll have to make sure my cavirtex account is all good after this move. but this is pretty good news, i have a kraken account and have done all kinds of trading there. very good trading platform. low fees, stop loss orders, etc. I was holding off trading on there yet with this move I may test the platform. I do admit that I appreciate what they have to offer. |
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if we all buy now we can all sell back higher feel rich as price explodes and we be HODLING. Adam, Have you heard the news? Cavirtex and Coinsetter now part of Kraken What do you think? Huge or so so? Kraken Acquiring Coinsetter and Cavirtex to Bring Global Bitcoin Exchange to United States and CanadaHappy New Year! We are starting 2016 with some fireworks of our own – Coinsetter is being acquired by Kraken, a premier bitcoin exchange. Read the formal public announcement here: http://www.businesswire.com/news/home/20160119005459/enThis transition will bring huge upgrades to your account, offering domestic US deposit/withdrawal bank transfers, deeper order book liquidity, and improved margin trading. What will happen to my account(s)? On January 26, 2016, Coinsetter will temporarily halt trading and begin the safe migration of all accounts (and funds) to the Kraken platform. This process is expected to take just a few hours. Upon completion, you will be able to log in at www.kraken.com and immediately begin trading with any US dollar (USD) and bitcoin (XBT) funds that are in your Coinsetter account(s) at the time of migration. You will be able to deposit or withdraw bitcoin (XBT) immediately too. After a brief and seamless process to activate your account with SynapsePay, our trusted USD payment processor, you’ll be able to deposit and withdraw USD. Why is this good for me? This is outstanding news for Coinsetter clients. As a Kraken account holder, you will receive: Free domestic USD wire deposits through SynapsePay until March 1 (when the promotion ends, the deposit fee will be $5 flat) Domestic USD wire withdrawals will be $5 flat Low trading fees (via a maker taker model with fees ranging from 0% to 0.26%; read more at https://www.kraken.com/help/fees) Exchange options you have been demanding all along, such as advanced order types for setting profit targets or stops Trade 18 currency pairs, including 5 fiat currencies (USD, EUR, CAD, GBP, JPY) and multiple digital currencies (Ether, Litecoin, etc.) You’ll also get: Superior trading interface 24/7, high touch support including live chat Sophisticated API (documentation: https://www.kraken.com/help/api) iOS app for trading on the go The Coinsetter & Kraken teams |
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