Thinking about mitigation of a "51% attack" if it was in the works. We could always DDOS the fuckers into orbit, and developers could black list them in Bitcoin client software patching them out, or a hard fork (as a last resort). There are lot of skilled people out there who wants to see Bitcoin succeed, pretty sure we can deal with this shit if it ever happened.
There are several options available but many of them destroy the precepts of Bitcoin. It will be interesting to see how things pan out (as always). |
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Still doesn't make sense tho. The time to have done this to kill off Bitcoin successfully and easily was 8 years ago.
Well, we're talking government here so sense doesn't have to be a thing. However, it could be that China didn't want to tip their hand until they were ready with their own new currency. In the meantime, bitcoin mining was bringing quite a lot of wealth into the Chinese economy and was also having psychological effects against established world currencies, particularly the dollar. IMHO, I think China plans to keep mining around. Big miners will either cut deals to pay the extortion bribes, or move to better locations. Most of them will likely pay to stay. Governments don't like to run public servers and deal with such maintenance and overhead. They know they suck at it. Look for a reverse FUD announcement in the future like "China to allow miners who adhere to new renewable energy policy restrictions to resume Bitcoin mining."  Perhaps Chinacoin is SHA256 too. Just switch over a bunch of hashrate and have instant high security that would put any alt to shame. It would be very centralized, of course but if it's feasible, so was Bitcoin really. This is all just speculation, of course. I don't really believe this to be the case. |
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BUT. The pipe has to be big enough to send ALL the transactions that need to be sent at any one time. BUT it also has to take into consideration the fact that much of the existing BTC is simply NOT AVAILABLE. That means instead of bitcoin being equal to 1/21000000 of everything, instead the AVAILABLE float is equal to all the of things currently for sale -- at least. I am still working on this, but i feel like this train of thought goes somewhere... maybe just in circles? You're on the right track. But even the float is fake to some extent...it can never be accurately known what the float has available for sale. There likely is all kinds of fraud going on with it: naked buying, naked shorting, fake buy/sell walls, phantom coins, rehypothicated coins shared across multiple "owners" with supposed valid claims, fake or vastly under reported reserves, etc. This is compounded by the amount of leverage many of these exchanges are allowing whales to use. My gut tells me that that the actual amount of physical bitcoin "available" is a mere fraction of what actually trades virtually. Only massive bull runs and massive short squeezes can help to reveal the truth. Or big buyers like Grayscale come in. For example, when you see the Bitcoin market hit the lowest of lows and seems dead. The price is all fake, because the exchanges don't really have all the bitcoin available for sale at that low price. They only have a fraction, and whales have used fraud and naked shorting to push the price down that low. And their bluff gets called the minute another whale comes in with a real massive buy order, the price jumps massively. The float price can literally double overnight. Another way to look at it is that the asks virtually extend a long way to the right. My bitcoin are off the market but if you offered me 100k OTC, you might well squeeze one out of me. What you see on the exchanges is just the "hot" part of trading. Even there, given how we see walls come and go, a lot of that isn't even "real" either. Though certainly there are a lot of "lost" bitcoin too but the question is, what difference does it make? Just remember that the price is just the last that two parties agreed to exchange for and there's much more to the story. It's a stochastic process. What is definitely not real is "market cap". But hopefully we all recognize that by now. |
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This news shocked me that China has administered more than 1 billion Covid-19 vaccines.
You can't trust 50% of any news coming out of China and you can double that for anything related to covid. |
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Regarding hashrate and the protection of Bitcoin blockchain, I don't see any reason for concern, still ridiculously high level of protection even if you would move down towards 10% of current hashrate. If large scale mining operations gets hunted down and obliterated like old exchanges (starting to look that way) it will be more smaller scale operations working with lower difficulty instead (as Satoshi intended). If you really worry and want to support, then start mining small scale, without profit in mind.
My only real concern would be if this was a move by the Chinese government to obtain direct control of >50% of the hashrate with malicious intent. With the Chinese government, the latter us possible though hopefully the former is not. The price is crazy flat. Constant seller pushing down or constant buyer pulling up? |
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~snip
I propose collectively wearing above hat with laser eyes to $50k. @xhomerx10 can you do you magic please?
 Nice 1 . Thanks Oh. I am stealing one of these for my twitter profile...  whee. what you guys think about this style?   Ba da ba ba ba, I'm loving it. |
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Never imagined the WO hat to be a gateway drug for:  I propose collectively wearing above hat with laser eyes to $50k. @xhomerx10 can you do you magic please?  |
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Bitcoin still very sentiment driven, it seems. We should be able to find a leading indicator for this. Possibly some have already.
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Fuck the bears! There.. I said it.
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I’m gonna wake up to sub 30k aren’t I?
Only if you go to sleep. |
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Really, another China ban? People panic sell and tweet deleted after? Apparently the FUD still works even after so many times. This shows how pathetic the market still is. Oh well, Coca-Cola lost billions in market value after Ronaldo switched a bottle of Coca-Cola with water.  The market will always be pathetic while we're on the exponential part of that S-curve. It'll only be some of us who truly get FOMO and the fearful other side of its coin, the rest will buy and sell like sheep. |
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Look at difficulty dropping.
this is the opposite of what happened from Jan 2018 to Sept 2018.
the difficulty was up at the end of every month as price was dropping.
This time the difficulty is dropping as price is dropping.
Yeah we could say it is the lack of chips so no new gear.
But this is a new pattern.
Which could mean a new price pattern will evolve in the next two- three months.
How has sha256 alt marketshare changed? If sha256 alts are doing stupid gains, it could be miners want to have some of that for themselves while BTC's price is wandering around in the wilderness. |
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Well, happy fathers day, I guess.
I got my walking-around money out at 39k so not hurting too much at the moment. I should have got out more so I could buy back in, I suppose.
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There will be no taping, pulling or rubbing of neither my Helmuth nor my glockenspiel, thank you. But thanks for your input. Edit, What's doc leaves? Not sure about your country but in England they are a broad-leaved plant that grows near nettles that contain a chemical that soothes the pain and itching that nettles cause (the 'doc' is short for 'doctor', I believe). Hmm. Just looked and it's "dock" leaves and apparently they don't actually contain anything, it's just the rubbing action that helps. Well shit, there's another piece of my childhood gone  I guess you could make some nettle tea. Brings a new meaning to teabagging. Edit: Apparently alkali substances can help with the nettle stings. |
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So It was hot as hell last night and I decided to go outside, naked, to cool of (I live in the countryside). It so happened that I walked in to my neighbors old corral and what I thought was just high grass was also nettles. I stung my legs, butt, and Helmuth and the glockenspiel, I have had a trying night.
Rub yourself with doc leaves. |
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It might be in the articles which I am too lazy to read, lol. But if I were doing it i would make the users download a "new client". But that would probably be the hardest part to pull off...
That's definitely a big red flag though. I know there are ways that keyloggers manage to do it. Things like emulating a keyboard to open a command shell, create a command script to send the payload and then execute it. |
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I spent way to much time watching talks on that controversy!
It started out doing some things Linux needed for a long time. Then they didn't know when to stop. |
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 It looks like the installed a wee little internal device with a standard USB connection and soldered that to pins on the board. It may just be nvram. It could be writing the seed to that and then sending it home, or even signing a transaction and sending THAT home where they can then broadcast it and take the monies. Interesting. I guess it's hard to spot a fake when it's not a fake. I wonder what method they use to send the payload home. |
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