>Mentions "enlightened" individuals
>Claims that Bitcoin will be the biggest payment system in the world by 2021 with no basis except for past prices
>Cares about nothing except the price.
Is this satire or what? I find it hard to believe that someone could be that dumb.
^ this guy gets it. |
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drivechain = using the same soft fork exploit as other things meaning no proper consensus vote/veto. same old avoid user election, hand election to pools, then pitchfork the pools if they say nah thanks.. to then nuke th pools for having an opinion...
all while wasting another 2 years..
sidechains = altcoins
prominently, if people move coins to other altcoins (oops i mean sidechains) then those people end up protecting the sidechain by running a sidechain node not a bitcoin node.
if a side chain can do X. the obviously bitcoin could do X too.. so just friggin let bitcoin do X instead of dilute bitcoins userbase/utility by swaying people off chain/to new networks. (bitcoin node dilution)
seriously whats with devs trying to dismantle bitcoin by crippling it with removing fee controls, halting onchain growth, sliding in empty gestures using exploits that still only offers the same 7tx/s hope.
the 'timing is perfect' the link suggests.
to distract devs from scaling bitcoin with a new roadmap of wasting time on altcoins (oops sidechains) as the next route/level.. again diminishing any promise of time scales of when bitcoin will get its REAL block increase that dynamically moves at a heathy rate (real scaling).
if anyone wants to use sidchains.. just friggen sell your bitcoins and buy an altcoin... dont be fooled into locking bitcoins out of circulation until its a cesspit of only a couple nodes left and merchants not running nodes holding a blockchain of 'locked tx's' LTXO's
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i have seen many many varients of the PoS methodology (yep there are more than 1) and each of them can be abused by those with certain resources.
The raspberry pi farm wasn't very adequate. What would be the most realistic example of such abuse? there are hundreds of PoS variants. some involve using proof of resource (hard drive space) as a way try ensuring pools of 'addresses' dont occur.. by only allowing one address per device/node. end result people use many raspberry pi's to show as 'individual' address per device/node.. but are all housed in one location.. so pools end up being formed anyway like i said no matter what different PoS varient methodology people can think up... if the coin gains any notoriety and infrastructure value(spend ability) people will start gaining desire to be part of it and then start looking at how they can game the system to get a little extra luck / bigger slice of the pie. but again putting the morals of distribution of wealth aside... putting the basement dweller can be rich aside.. just looking at the network security of PoS vs chainwork(pow).. PoW wins the reason people cry that PoW is unfair.. is exactly the reason PoW is mor secure... because no random person can just get in at ground level and decide what is valid or not. it requires ALOT of resourses, time and cost to secure a block.. and thats the point |
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Because i see here many ppl that like a coffee money can i ask a question?
Has anyone of you buy a coffee in his life with gold?
yes i have... being serious, i have (hint nasdaq) but you comparing bitcoin to gold is just mis-understanding bitcoins benefits to gold. and why gold on its own has its own unique benefits. if you take away bitcoins utility of being spendable. and just turn it into a reserve.. it becomes no better than 42coin gold survives without the 'spending as currency' utility because it has other unique features (industrial, fashion) bitcoin without the 'spending as currency' utility, doesnt have any other real unique features.. so as i said, ends up just like 42coin |
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i think alot of people are missing the point of the chain work security of PoW
Sorry mate, you been the one who didn't understand how PoS works, and you want to teach us about security concepts in PoS and PoW? ive been around since 2012. i have seen many many varients of the PoS methodology (yep there are more than 1) and each of them can be abused by those with certain resources. so if your motivation is the hope of a payday by you being random person x of 10,000 hoping that within 10,000 blocks you'll get lucky once.. guess what you will find on any 'successful' coin that would use PoS would have everyone else with atleast 1000 chances and they are getting their income every 10th block .. but putting the income share/moral argument aside.. the security of PoS vs chainwork........ chainwork wins |
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i think alot of people are missing the point of the chain work security of PoW and are only fighting for PoS purely for a basement dweller dream of being rich from using one laptop.
sorry guys but no matter what feasible method you can come up with to try to bring it back down to basement dweller each user wins.... will within weeks be so-opted/corrupted so that big guns grab the best 'luck' 'chance'.
the reason why no one is doing so already with PoS is because 99% of PoS coins ar crapcoins so there is no motivation for people to game the system even if there are many known 'attack vectors' to do it
if you brush aside the financial sharing... and look at the technicals of network security of the immutable data.
the security of PoW 'chainwork' is more secure than PoS.
the only argument for PoS seems to be around 'sharing' the pie of reward.. which as i say.. give it a few weeks of any coin that has good value.. would get co-opted in weeks..
even 'realbitcoin' admits as much by how NXT forms 'pools'
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but then the system is just as 'controlled' as you are crying about bitcoin..
so changing PoW for PoS purely for the hope that the little guy gets a cut,,, last for maybe 3 weeks.. then its business as usual for the big-guns
what? The amount of wallets don't change the total weight you have on the network. You also could run them in x VirtualBoxes and still earn the same amount of interest. Your "control" doesn't change by the number of wallets you run but only by the amount of coins you own. facepalm but in a PoS system where it randomly selects certain addresses that have atleast X coin the big-guns can ensure they have many addresses with the minimum funds required (for V2)and also the majority of nodes to ensure they get 'picked' often.EG some PoS coins see the flaws of PoS v1 and then add new rules like proof of resourse to prove its not just 1 guy getting selected every time... by randomising which node/address gets selected to certify a block.. hense even with PoS v2 sybil farms can counter that. as i said so changing PoW for PoS purely for the hope that the little guy gets a cut,,, last for maybe 3 weeks.. then its business as usual for the big-guns .. same goes for LN people think they can get rich just leaving the LN node on and taking a nice ct of the "hop" fee of routed payments... pfft HA. what will happen is the seed DNS will be configured so that HUBS get the most action |
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Yes, and when people would learn, that they don't need these "server farms" that do some mathematical hocuspokus with megawatts of power to "create money" (which they don't), but could actually do it themself with a mere raspi or a notebook running a wallet, this would be great, would help to have more decentralization and more of a "people's money" as it was meant to.
then people will just sybil farm run 10,000 raspi's from one location to eat a bigger slice if the... (no pun intended) Pie It doesn't matter, if they have all their coins in one wallet or 10000. but then the system is just as 'controlled' as you are crying about bitcoin.. so changing PoW for PoS purely for the hop that the little guy gets a cut,,, last for maybe 3 weeks.. then its business as usual for the big-guns |
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Yes, and when people would learn, that they don't need these "server farms" that do some mathematical hocuspokus with megawatts of power to "create money" (which they don't), but could actually do it themself with a mere raspi or a notebook running a wallet, this would be great, would help to have more decentralization and more of a "people's money" as it was meant to.
then people will just sybil farm run 10,000 raspi's from one location to eat a bigger slice if the... (no pun intended) Pie any system can be co-opted/corrupted given the right time and desire to do it |
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...
not gonna argue about PoS/PoW the only thing i and MANY agree on is the crappy buzzwords.. wallet.. holds money.. bitcoin wallet holds KEYS.. so should be called a keyring not a wallet bitcoin is not a coin but a token/unit of measure. so should have been called something else.. ... but we live in a world where 'remote hosting'(back in my day) is now called 'the cloud' (facepalm) but we live in a world where 'social media'(back in my day) is now called 'facebook' (facepalm) do kids these days even understand what a cloud is.. what a book is even the BS cartel... fake a node consensus(hard) as being soft by saying UASF.. to fake the ramifications of using it |
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Then why are most mining pools supporting Segwit and the high fees? They either support it, or they don't really care about it, and prefer short term profits for long term detriment.
68% say nay/oppose http://bitcoin.sipa.be/ver9-2k.pngignore the barry silbert closed door meetings. thats just whistles in the wind from the same cartel.. And this is usually this is most businesses's Achiles heel. They just want to make money now, while don't care about the huge problems they will be facing 5 years from now. It is this that I am pointing out.
pools have planned for the next few years... once you do research and stop relying on the reddit stuff that echo chambers in their cabin fever psychological small box.. you se the clearer picture All businesses should be planning for the long term. But at it looks like they are just doing everything they can just to kick the can down the road. The so called "economic majority" already chose small blocks. So there is really nothing to talk about.
Exchanges, Mining Pools, Merchants, are all in on it. They just want profits now, but not care about the future of Bitcoin.
"economic majority.. pffft thats more buzzwording from the same cartel.. all they have is 60-80 signatures. and a few of them are repeats of the same guys that try to sign for as many subsidiaries as they own, even the subsidiaries that dont even financially handle bitcoins |
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Just chill the fuck down. I am not a socialist, and normally I have no problem with people making money.
However in this case, they put profit over the health of Bitcoin, which is detrimental for the whole community.
Every rational miner knows that in the long term they would make much more profits if the block size were bigger, since more transactions could go through having the network grow and having more users on board, also increasing the price further.
But in this case they are blinded by shortsighted profits, they love 10-50$ fees, but once people stop using Bitcoin, the fees and the price will go back to where it was in 2014. Then they will realize the huge mistakes that they have done.
Remember it's a race against money, they invested a lot in the ASICS, and they put all their bets on BTC price rising. If the price were to go back to 2014 levels, most of them would go bankrupt, and then who will be laughting?
they are not blind by profits... pools did not raise the fee's or hold down the blocksize.... CORE did core moved the fee control mechanisms core didnt add any mechanisms to allow dynamic block size growth when the pools wer getting to the 0.75-0.999mb borders.. even now pools are doing empty blocks to get a few bits of efficiency gain just to ensure their blocks are accepted purely to get the blockreward . its core that are finger pointing the blame at pools. remember Luke JR found the exploit that allowed core to bypass node consensus (segwit going soft exploit).. pools did not ask to be the only electorate. |
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Well for once POS coins are better, I have been telling people since 2014 that POS coins like NXT and others are better ,but everybody was just making fun of me.
sorry to say this but im still laughing at you about your NXT from the early days... anyway bitcoins PoW mining is not insecure nor is it exploited... asic boost is much the same as the GPU days of ATI(openCL) vs Geforce(cuda) if you wash away the racial fud and the bad maths.. its not about jihan vs the world, its about DCG portfolio having the devs on strings. having the main merchant tools on strings, but no matter how many free lunches and all inclusive weekends they offer, cant get pools to tie themselves to the DCG portfolio puppet strings, bar BTCC and a couple other small ones so DCG/blockstream are at war blaming antpool for not joining the cartel. even though antpool does not account for the 68% nay/abstainers... only 16% again i see DCG jumping ship over to litecoin and getting bitpay/coinbase to flip to LTC dominance where devs/merchants and asics are under the DCG portfolio |
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sorry but SPV is not network security... its only personal validation of what you personally see.. the network security is much like torrents. where by you holding the blockchain makes you a crucial 'seed' of the network with everyone else holding the same seed data. this then makes the dna of a particular seed that is replicated become the most widely accepted strand there is. .. spv is not about the network. spv doesnt make other peers follow you or change what they hold based on what you have validated.. spv is just about what you think is valid .. out of say 5million people.. yea we should have 4.9mill that dont need to know or want to know how bitcoin works and they can be fine using SPV clients but we do need a nice healthy list of decentralised and diversely located/coded ful nodes that do have the full data. .. now here is the thing. we are not in 2009 where the min requirements were raspberry Pi1 and a 0.5mb ADSL/3G internet... we are now in 2017 where the min requirements were raspberry Pi3 and a 5mb ADSL/4G internet... moving to the average being fibre/5G soon so we can.. yes we CAN cope with ALOT more than before some nutters scream about "gigabytes by midnight".. (they deserve a wet fish slap across the face) the reality is that 8mb is safe today, but 4mb is extra safe... even core admit as much. yet core want to strangle native(legacy) utility to 1mb, of a fake gestured 2mb... which is their delay and posturing tactics of trying to assume control of bitcoin its also just kicking the can down the road by not allowing the blocksize to naturally grow (within node capabilities) and instead require the devs to spoonfeed out the limits |
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you also have Gmax saying that all bitcoin developers will move over to litecoin at 57m30s of video below and how he is happy to help litecoin.. https://youtu.be/LHPYNZ8i1cU?t=57m01syet any software 'brand' that is not blockstream/DCG endorsed he wont touch follow coblee(litecoin inventor) ->coinbase->DCG boblee(coblee's brother) ->BTCC->DCG gmaxwell -> blockstream -> DCG luke Jr -> blockstream -> DCG RustyRuss(LN) -> blockstream -> DCG and ofcourse barry silbert(DCG)-> alansilbert(capitalone healthcare)->hyperledger Then maybe it would be better to start supporting Monero because they are still holding on to the Bitcoin philosophy. Everyone in Bitcoin and cryptocurrencies have become greedy. I have noticed that some groups want to run a project like a company than what they really are. Open source projects.
Litecoin is just shifting the issues of Bitcoin, it runs on the same technology, just with a different algorithm. The algorithm was once chosen because Litecoin-Developers saw the issue with centralized mining by farms running on ASIC. So they thought Scypt would be more ASIC resistant, which became untrue in 2014. Litecoin will cause the exact same mining farms once it becomes valuable enough.
the litecoin ASIC is in the barry silbert portfolio control.. just to add another layer to the list LTCASIC -> DCG my mindset is blockstream/barry silbert should move over to litecoin. after all then the asic control would be under their cartel control. let them turn litecoin into the the corporate capitalist crap cartel driven currency.. then the rest of us can concentrate of moving bitcoin back to its original principles independent diverse decentralised peer to peer network |
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There's no way you can found private keys of bitcoin address by manual collision unless you found weakness/pattern how bitcoin address/private key is generated in certain bitcoin wallet OR you could break ECDSA easily.
ETFbitcoin..... Directory.io.. even you should remember how that drama played out https://bitcointalk.org/index.php?topic=1527225.msg15378992#msg15378992Wait? I think everyone in here is joking or being sarcastic.
Didn't people read this news few years ago : Directory.io Prank Proves Bitcoin Protocol's Strength |
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emphasis but for me its make bitcoin great again or bust,.. im not playing Luke Jr and other peoples games of just hand over bitcoins and run off...
im not in it to be "fiat rich". otherwise i could cash out any time and retire... im in it for the reasons bitcoin was created in the first place
I read that part But when people say something to that tune (sort of "all or nothing"), they are more often than not just bragging how cool and die-hard they are until they actually go through that part which is about nothing. Most of them would sell out long before it really comes close to what can be loosely considered as a turning point from all to nothing. That said, for most of us it is nowhere near "make bitcoin great again or bust", it is more about making profits and preventing losses. Thus we have to be a little more "flexible" in this regard, so to speak i made my hoards back in 2012-2013.. i did not squirm when the $1200 tanked to $200.. nor did i squirm at any other price drama. i see beyond the price drama. and keep my eye on the real infrastructure changes if it was about 'profit' i would still day trade today. i would even do sig campaigns and other things.. i dont need income. i dont need extra bitcoin and i am certainly not going to panic and run off back to fiat at any moment. thats what the cartels want people to do. you se them scream it alot in their attempts they shout "f**k off" alot... ill leave you to decide if **= or/uc |
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though my btc hoard is much higher than most. telling anyone to just go back to fiat is like the 'whiteman' telling the native indian to head back up over the mountains through the northern passage and let the whiteman take over america It may turn out that you don't know it better As you claim, since I'm not telling you to go back to fiat. I'm just saying that it may be wise to convert some part (mind that) of your Bitcoin stash to fiat for a short period of time until the dust settles. Obviously, I'm not telling you to dump all your bitcoins for good. Apart from that, this is not what you were telling just a week ago when I told you that Litecoin may easily substitute Bitcoin as a means of payment for 500k merchants which are there, according to your own estimates until litecoin starts advertising that 500,000 merchants accept LTC (using coinbase/bitpay merchant shopping cart api tools). then LTC is not going no where, its just speculative hype
yep speculation hype. but out of all speculative hype LTC being the switch over currency of choice by the cartels, seems to be the most rational logical and easy to see possibility.. but until it happens .. its just speculation. emphasis but for me its make bitcoin great again or bust,.. im not playing Luke Jr and other peoples games of just hand over bitcoins and run off...
im not in it to be "fiat rich". otherwise i could cash out any time and retire... im in it for the reasons bitcoin was created in the first place
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i never been interested in altcoins. last time i touched them was probably 2013
my business, my hoards are in bitcoin
im highly invested in bitcoin I understand your pains worse comes to worse ltc replaces btc as the 'merchant' accepting currency which ends up changing the paradigm Oh, now you come to see the lite i see how things play out long before most do. i been waffling for ages about this.. Take it for what's it worth, but in your place I would move part of your bitcoins into fiat now (say, the US dollar). You won't lose much if Bitcoin successfully comes through the bottleneck it is quickly moving to, but if it fails and becomes toxic, that may be quite painful for the guys like you who blindly believe in Bitcoin future. This blind faith might have worked in the past for you but one day it will inevitably stab you in the back
nah im good thanks. im not blind. i have what i need(btc) and know what im doing. i know where my triggers are to move. i dont panic when others do.. to me price drama is meaningless to me. i see where the real long term 'infrastructure' changes are and have my plans set out should worse come to worse. though my btc hoard is much higher than most. telling anyone to just go back to fiat is like the 'whiteman' telling the native indian to head back up over the mountains through the northern passage and let the whiteman take over america. sorry but for me its make bitcoin great again or bust,.. im not playing Luke Jr and other peoples games of just hand over bitcoins and run off... im not in it to be "fiat rich". otherwise i could cash out any time and retire... im in it for the reasons bitcoin was created in the first place P.S in 2013 i dumped my altcoins by literally giving them away i back then traded and had thousands of ltc.. then won competitions that gave me 1300 ltc and literally handed them away in different projects/methods. here is one https://bitcointalk.org/index.php?topic=145201.msg1540606#msg1540606 |
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Yawwwwwn
more drama that just goes over the nonsense of a few years ago, all related to...
directory.io
its not natural collision. it was 'prepared' / drama collision.
what some dont realise is the first few thousand addresses had at the time a little bit of funds placed on the early numbers randomly and purposefully as a kind of "omg they are active" tempter of creating fake drama of 'omg collission happen alot'
but anyway spend your life going through every key, ask your great great great grandkids to carry on your project after you pass. you wont get far, and thats the point
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