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Contrary to popular perception, a farting_shot is quite different from a parting_shot, the former tends to linger.
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Perma-capping at 1MB, <3tps globally, and forcing fee growth now is akin to the Greeks jumping out of their wooden horse when Troy first comes into view. A better strategy, while block reward is comparatively huge, is to scale up tx volume capacity (within reasonable hardware/bandwidth limits) until we have been successfully rolled inside the curtain wall of world finance. Once safely inside, the world will discover that blockspace is a limited resource in the face of (much) larger tx volumes, and the resulting fee market will rise to displace a dwindling block reward. I thought this was the plan all along? Sure, it may not help, in the short term, the centrally planned artificial bottleneck to promote sidechains, nor incentivize people to move to altcoins. Not suggesting that this is a winner take all game with respect to on-chain vs sidechains vs alts, just that we shouldn't use maxblocksize to steer (centrally plan) their development and adoption. Making a straw man out of a little black african boy is in poor taste  Looking at iCEBLOW and frappe.doc here.  |
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Interesting that finex USD swaps are lower than they were at the start of the June rally. About $26mil, shedding about $3mil in the last couple days.
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6,000 to 10,000, bartering or coin, all distinctions that dance beside the fact you just got owned, about monetary inflation for benefit of state = necessary/good
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Just like the house you bought in 1970 for $45k is still worth 45k. Fiat currency stability 4EVA.
Oh god, you definitely need a lesson in economics, land is a non depreciated asset, land was here before you and will be here after you die for many millenia's to come. The population will increase and demand stays for that land and increases as well. While currency comes and goes with the tides of business cycles and governmental growth and reclines... Also you can not equate land to currency and you cannot equate that to a commodity etc etc... side note: Standard of living and minimum wage and other variables also increase as years go on ... additional tangent : also in fact in some parts of the USA you can still buy a home for 45,000 or even less , granted they might not be in great shape or other things but it still is a hosue... Gold as a unit of official US currency value was only completely forgotten in 1971. We have another 6000 years of history you need to answer for. |
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Just like the house you bought in 1970 for $45k is still worth 45k. Fiat currency stability 4EVA.
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1900 coins protecting the magic 300 on finex.
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Points for clever, gentle pumper, and it's not quite old yet.  |
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Now what would you suggest? I have sold few bitcoin at 305 dollars and now I am holding $$.
If in doubt, please refer to the chart below for all your decision making needs!
Have bitcoin. Don't have bitcoin
|-----------------------------------|-----------------------------------
Bullish. | Hold (patience) | Buy (panic)
----|-----------------------------------|-------------------------------------
Bearish. | Sell (panic) | Wait (patience)
I like it. It covers it all  Doesn't help the poor soul who has 0.1 btc and is bullish.  Follow the instructions: Panic buy.  |
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An owner of 1 btc holds 100,000,000 satoshis. An explicitly and provably deflationary currency may have problems of its own, but unit measurement need not be one of them. For every price increase, some of the early hoarders pull the ripcord, this distributes the coin in the fairest way possible.
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Just think of it rationally and logically ... Bitcoin uses a base standard currency = USD / EUR / CNY .... now think of it, those currencies alone account for 80% or more of the worlds GDP with established economies and backing of those currencies with the IMF and in net imports and exports to account for their value. How ever Bitcoin is based on backless speculation of a realized "Value" ... How is this value determined?? a ledger? value in property? value in its source code? backed by debt? ... There is only one way to increase "bitcoins value" currently its low volume and an influx of increase of buyer side = short term DELTA of a sellers market instead of a "buyers" market... just think of it as wanting to buy candy and the candy maker was not expecting for an increase in 100% of volume so he has to increase the price to decrease the volume. This is easy to manipulate when there are very small key players in the market. So to the question of delusional... it is up to you to understand the economics and viability of bitcoin. It is only valued as people pump real currency into it and this money is held by your Exchanges... Remember what happened when MT Gox? that is just a reminder.
Edit and addition to my post.
Jeffrey Robinson is quite correct about virtual and digital currency as the future path for currency as its more efficient and is the only measurable answer for the future. Example is Denmark, how ever it is not a "Crypto" system of money its more of a standardized system like using your debit card. This way they can deter fraud and account for various aspects of the system.
Wow, sounds revolutionary, and not already completely saturated. People who want a central party to "back" bitcoin (with the servitude of people's future labors), would best be advised to shun, stay in low load mutual funds, cash, and bonds plz. LOL, I had a good laugh, Thanks Cconvert2G36 ... The current question boils down to what purpose can a crypto coin serve that current currency/ banking has not already served?Side note: There are still lots of liabilities in crypto coins Eg. Lost Wallets, irreversible transactions, no insurance, Exchange defaults, liquidity etc.. It has inflation that approaches zero, vs approaching infinity. QED The liabilities you name are commensurate with its status in the global financial market, i.e. tiny, illiquid, volatile, and unforgiving. Scale and services will rise to meet this challenge, and/or the burden will be on the holder of the keys, as it always has been. |
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Just think of it rationally and logically ... Bitcoin uses a base standard currency = USD / EUR / CNY .... now think of it, those currencies alone account for 80% or more of the worlds GDP with established economies and backing of those currencies with the IMF and in net imports and exports to account for their value. How ever Bitcoin is based on backless speculation of a realized "Value" ... How is this value determined?? a ledger? value in property? value in its source code? backed by debt? ... There is only one way to increase "bitcoins value" currently its low volume and an influx of increase of buyer side = short term DELTA of a sellers market instead of a "buyers" market... just think of it as wanting to buy candy and the candy maker was not expecting for an increase in 100% of volume so he has to increase the price to decrease the volume. This is easy to manipulate when there are very small key players in the market. So to the question of delusional... it is up to you to understand the economics and viability of bitcoin. It is only valued as people pump real currency into it and this money is held by your Exchanges... Remember what happened when MT Gox? that is just a reminder.
Edit and addition to my post.
Jeffrey Robinson is quite correct about virtual and digital currency as the future path for currency as its more efficient and is the only measurable answer for the future. Example is Denmark, how ever it is not a "Crypto" system of money its more of a standardized system like using your debit card. This way they can deter fraud and account for various aspects of the system.
Wow, sounds revolutionary, and not already completely saturated. People who want a central party to "back" bitcoin (with the servitude of people's future labors), would best be advised to shun, stay in low load mutual funds, cash, and bonds plz. |
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The CEO of Bitcoin committed suicide, I heard. All the monez was stolen by a guy wearing a magical tux.
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Now what would you suggest? I have sold few bitcoin at 305 dollars and now I am holding $$.
If in doubt, please refer to the chart below for all your decision making needs!
Have bitcoin. Don't have bitcoin
|-----------------------------------|-----------------------------------
Bullish. | Hold (patience) | Buy (panic)
----|-----------------------------------|-------------------------------------
Bearish. | Sell (panic) | Wait (patience)
I like it. It covers it all Doesn't help the poor soul who has 0.1 btc and is bullish. |
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Right. Otherwise we couldn't have a finite limit of 21 million coins, because there would always need to be some minimum reward for generating. In a few decades when the reward gets too small, the transaction fee will become the main compensation for nodes. I'm sure that in 20 years there will either be very large transaction volume or no volume.
(emphasis added) ...
While I don't think Bitcoin is practical for smaller micropayments right now, it will eventually be as storage and bandwidth costs continue to fall. If Bitcoin catches on on a big scale, it may already be the case by that time. Another way they can become more practical is if I implement client-only mode and the number of network nodes consolidates into a smaller number of professional server farms. Whatever size micropayments you need will eventually be practical. I think in 5 or 10 years, the bandwidth and storage will seem trivial.
...
(emphasis added) Long before the network gets anywhere near as large as that, it would be safe for users to use Simplified Payment Verification (section  to check for double spending, which only requires having the chain of block headers, or about 12KB per day. Only people trying to create new coins would need to run network nodes. At first, most users would run network nodes, but as the
network grows beyond a certain point, it would be left more and more to
specialists with server farms of specialized hardware.(emphasis added) It can be phased in, like:
if (blocknumber > 115000)
maxblocksize = largerlimit
It can start being in versions way ahead, so by the time it reaches that block number and goes into effect, the older versions that don't have it are already obsolete.
When we're near the cutoff block number, I can put an alert to old versions to make sure they know they have to upgrade.
A Peer-to-Peer Electronic Cash System*
*A limit of less than three transactions per second occurring on planet earth may apply.
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Next question for the thought experiment, gentle investor, what % of the global bitcoin market was mtgox?
It appears that the failure surface has grown somewhat more multifaceted.
If I remember rightly it was somewhere around 13% just as the big bubble kicked off. I'd assume China pushed that down as it ripened. From August 2013:  |
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:username: They are basically admitting that they earned a lot of money from the ddos attack/lag.  Next question for the thought experiment, gentle investor, what % of the global bitcoin market was mtgox? It appears that the failure surface has grown somewhat more multifaceted. |
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I'd like a dump back to $290's so I can get back in on the trading simulator.
Any weak hands wanna help a brother out?
Oh shit! The trading simulator! The dump3er forgot the fucking trading simulator for various days while analizing the market development. Now I can’t boast with my gains! Fuck it!  Seems more like the market development was analizing the Dump3er. That 8hr window is a killer for trying to catch pullbacks on bull runs tho. Playing chicken while trying to scalp a few dollars is better done on the simulator I suppose. |
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