Thank you for this kind notification. I'll be sure to include this coin on my crypto radar.  |
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When the concept has matured and found it's legs it will be interesting to see the real world Companies and Banks fight it.
Yeah, if the Bitcoin developers can get their heads out of their asses, this bitcoin thing might actually work.  |
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FUD vid. Surprised you fell for it.
Using the word FUD is basically like saying, "I have a vacuum of intelligence I'd like to share." Sorry, but I just needed to say that.  |
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To my understanding, those rules are unenforceable if XT succeeds and core developer consensus is by-passed. https://bitcoin.org/en/developmentWell, that escalated quickly...
Even if the 21 million cap is altered, who cares? We will all be dead by then!
Watch the video. Jon is talking about July 2016 and the possibility of the block reward not being decremented to 12 1/2. |
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pure fud
If you will watch the first 20 minutes of video, I think you'll agree that Jon makes some excellent points. Not sure where the FUD is you mention. |
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People would just switch back to core. This is a non issue.
Jon explains in the video that he believes user consensus will eventually support a 21 million cap change. He uses various welfare programs as examples. |
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 https://www.youtube.com/watch?t=748&v=OwO5u6OVaaAJon Matonis sat down for an interview on Wednesday to clarify his recent statements regarding possible increases to Bitcoin’s 21 million supply cap. He is the Founding Director of the Bitcoin Foundation, former CEO of Hushmail, and a contributor to Forbes and Coindesk. Matonis believes it might be possible to preserve the 21 million bitcoin cap, but only if Mike Hearn and Gavin Andresen withdrawal their attempts to hard fork bitcoin by propagating Bitcoin XT to existing nodes. "Bitcoin XT is attempting to fork the core code by propagating it through the existing nodes. I would urge Gavin and Mike Hearn to withdrawal the Bitcoin XT propagation starting today. (If Gavin and Hearn succeed) it will eventually lead to a 21 million cap change."If two rogue developers can manage to increase the Bitcoin block size without the consensus of Bitcoin's core development team, Matonis believes it might then be time to kiss the 21 million Bitcoin limit goodbye. "When we get to July 2016 someone else could propagate software so that the block reward wouldn’t go down to twelve and a half. That’s entirely possible. That is no different than what we're seeing now with the block size."But Jon never mentioned that Gavin controls Bitcoin’s Alert Key. Making him the only known Bitcoin developer with the power to send out security alerts and upgrade notices to every single Bitcoin core client. That power should never be underestimated or forgotten. Full Story: http://altcoinpress.com/2015/06/matonis-if-bitcoin-xt-succeeds-you-can-kiss-21-million-cap-goodbye/ |
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Get the merchants and vendors to accept it, and the wage integration will follow.
I'm not sure that wage integration will naturally follow. Slavery in the US did not naturally end. Millions of merchants today accept Visa, Mastercard, and Apple Pay. Yet I know not of a single person that gets paid with any of these methods. As a community, it is up to each one of us to demand our employers pay us in Bitcoin. This needs to be in the forefront of the conversation. Otherwise, Bitcoin will remain a fringe token payment system used to buy illegal drugs and fiat slavery will continue its rule. |
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But if we want wide adoption then we need people to be able to buy a coffee with bitcoins too, not just a car.
That's not going to happen, not ever, not unless people get paid their wages in Bitcoin. A consumer is not going to take an extra step for no reason, nor should they. I would say 90% of this community should be focused on wage integration if we want a Bitcoin success. Sadly, only a tiny fraction understands this point. |
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Why aren't the Indians/Chinese companies accepting Bitcoin yet?
I mean there's lots of work for outsourcing repetitive tasks cheaply to these countries. I think that could be the next potential market for BTC adoption.
Because these companies don't "pay wages" in Bitcoin yet, and that's because people don't demand to get paid in Bitcoin yet, and that's because people don't value bitcoin more than fiat yet. Solve the riddle and Bitcoin replaces all the fiat of the world. |
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The point of my unreadable post was to figure out how Core could survive even with the loss of a supermajority of miners. I'm not sure why I'm bothering to point out what a post no one read is about in a reply no one will read this far into.  I read your entire post and it was interesting. According to Jon Matonis the only way to handle this situation is to stick with Core and BIP. He believes that if Gavin and Hearn are successful, bitcoin will be in deep trouble. His exact words as recorded yesterday: https://www.youtube.com/watch?v=OwO5u6OVaaA |
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But it actually depends. Right now the 1MB block size can do just fine with the amount of volume we have. If the volume skyrocketed for some reason, as we saw with the stress test, the whole thing became a mess (confirmation times taking hours, blockchain.info not opening up.. etc). It would collapse.
Actually, nothing would collapse. A transaction fee market would simply emerge changing the nature and complexion of bitcoin slightly. More in depth explanation of this view: https://www.youtube.com/watch?v=OwO5u6OVaaA |
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CannabisCoin once held a position in the top 15 with a marketcap of over $5 million dollars. With the block reward halving in just a few days, this could be an ideal time to pick up a few CANN for your portfolio. Marketcap doesn't say much about a coin and I think people are vastly overestimating the significance of the block halving; Currently there are 6760 coins being mined daily which is worth around 0.123 BTC currently. That is a very small amount. Cutting that in half is nothing compared to the daily trade volume so there's no logical reason why the price would change significantly and stay there long term. ... audio backing track for this post.Thank you for these comments.The marketcap of a coin is a good indicator in terms of visibility within the market. Market movements are not always "logical", they are often psychological in nature. As I stated in my first CANN post, the block halving will ( has) provide a boost that could help lift the coin higher in the charts. It will be up to the community to take this momentum and use it for the continued advancement of the currency. |
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New Goldman Sachs survey. http://www.coindesk.com/goldman-sachs-survey-millennials-bitcoin/Despite the negative tone of the title I actually am encouraged by the survey. Needs a bigger sample size. But it says 22% of people that have never used bitcoin plan to use it in the future. Only 5% have used it but will not use it again. Showing most people that use bitcoin keep using it. I think it's important for every single person reading this to understand that Bitcoin cannot survive as an illusion. All adopters need to get real and fathom exactly what's at stake. There is no minority anywhere outside the bitcoin community that would use bitcoin to purchase standard durable goods. This is why. Bitcoin is like a token system that allows you to buy tokens in exchange for cash. Everyone would rather have cash, but the only way to play the machines at the fun park is with tokens. That's how bitcoin works. The only way to buy drugs online is with Bitcoin tokens. Here's the important part. People will never take an extra step to do something. That would be dumb and wasteful. Why would anyone jump through hoops to buy bitcoin so they can then run out and buy something that they could have already bought with the debit card in their pocket? The key to making bitcoin whole again is to focus on what matters - wages. "Pay a man in bitcoin, and you've fed a man for life." |
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What do you think of it? Do you believe in such thing as BitLicense?
The regulatory environment is basically a mirror of the collective consciousness. Any and all regulation is a product of fear. Thus, there is a fear of bitcoin prevalent in society. So I think BitLicense can be solved by educating the public, since educating the public will reduce fear. |
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Not a hater of litecoin but what has it really got to offer as compared to the newer innovative alt coins in crypto?
There are some serious kick ass minds in alternative currencies at the moment, and some with core coding prodigies. I'm not sure how a crypto will fare over the long-term with a lead developer that exclaims (on Twitter) that, "development isn't needed right now." |
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Jon Matonis made an interesting video today on the block size matter. He basically says that if Hearn and Gavin are successful in their attempts to hard fork using Bitcoin XT and without core developer consenus, we're all screwed. Strong opinions are presented in the following video. Viewer discretion is advised: https://www.youtube.com/watch?v=OwO5u6OVaaA |
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The Nasdaq is going to keep a hands-off approach until Bitcoin decides who is the developer, and who decides the fork. I watched this video today of the Bitcoin Foundation's founding director explaining that if Mike Hearn and Gavin Bell (aka Gavin Andresen) are successful in their attempts to hard fork Bitcoin without core developer consenus, we're all basically screwed. Strong opinions are presented in the following video. Viewer discretion is advised: https://www.youtube.com/watch?v=OwO5u6OVaaA |
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 Your days of placing PGP encrypted drug orders in public, and paying for those Darknet purchases in Bitcoin, might be numbered. Don’t look now, but there’s a hacker behind you sinking his jaws into a new crypto-robbing pita bread – and he wants your Bitcoin wallet for dessert. Researchers at Tel Aviv University and Israel’s Technion research institute have developed a palm-sized device that can wirelessly steal data from nearby laptops using the radio waves leaked by the machine’s processor. Team member Evan Tromer says his group is working to extend the device’s capabilities to include stealing bitcoin keys. Tromer says the group is also exploring whether the technique could be adapted and made more widely applicable, too, even allowing the theft of bitcoins by stealing the private keys created by users’ “wallet” programs.
The setup, which they’ve called the Portable Instrument for Trace Acquisition (PITA), fits inside an ordinary pita bread. While that may not make for the most common attack scenario, it is compact, works with both white and wheat, and operates untethered. This makes for a lethal weapon that can be easily hidden, especially inside sandwich shops. Their crusty spy bug, built for less than $300, is designed to allow anyone to “listen” to the accidental radio emanations of a computer’s electronics from 19 inches away and capture the user’s secret decryption keys, enabling attackers to read the user’s encrypted communications. The researchers have perfected a method for stealing keys from laptops running open source GnuPG within seconds. Their next experiments will involve perfecting a wireless Bitcoin wallet attack. Original Story: http://altcoinpress.com/2015/06/pita-bread-munchers-could-steal-bitcoins-from-public-laptops/ |
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