I"M BACK BABY!!!!!!!!!!!!!!!!!!
Send it back to hell with fire!!!! Wait you were gone???
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Don't worry, it's one of the many exciting new functions present in the million-dollar forum software that's been in development since January 2014. The one that's going to be out "when it's ready", according to the most recent staff declaration. You can check out the beta!... Which is behind a Bad Gateway error indefinitely. Try forum.epochtalk.org Nice! Another $2.5 million US, a couple more years of testing & development, and that baby will be on par with circa 1990 BBS software! Were you actually one of the people that donated to Theymos? Or you just like to complain about all of the injustices on the internet?
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Imagine bitcoin trades at $1,000,000/BTC next month for some reason. Would not millions, tens of millions of people want to jump in on that? How are millions going to do it with a capacity of a half million xaction/day? They would try. You know how crazy people get in a mania.
Tens of millions, assuming just 1 x "tens" (=10 million), is ~40 times than the current 250k txs/day. Allowing for 90% fullness, and not all blocks at 100% (if some miners opt to mine less), you'd need ~44.5 mb blocks. For two tens (=20 million), you need ~89mb blocks. For some reason people fail to see that. And think raising a block to 4mb will solve all the problems
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Quote is from Hearn's rage quit. By growth he's talking about giving free access to something that is limited in supply by design. Think it's obvious that it won't work. Make a block 80MB and if it's free (or almost free) to fill up someone will. Utilization can continue to grow even if it costs few cents extra for a space in a block.
It will never be free to fill up a block. There is always a cost. However, when the block is 1 MB and it is already close to full with normal transactions, the cost to fill it is affordable to some. If the block is much larger, it would be much more expensive to fill it and cause transaction delays. Miners will always set a minimum price/kb to include data in a block. The argument is not that more space is bad. The argument is that at certain point the cost (in centralization) outweighs the benefit of trying to keep transactions few cents cheaper. 1mb is already filled up (arguably by spam but nevertheless) how long will it take to fill 2mb? Then 4mb if bitcoin will start to take off? Do you think that 8mb is viable? What about 16mb? At what size do you feel the size of the block will centralize the network to the point where you start to get worried and thinking that maybe letting satoshidice pay 2 cents per transaction is not worth it?
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... No you're not competing with the other 15mil bitcoin market, as most of those bitcoins are NOT for sale. That's basic economics. ...
Nah, that's not basic economics, that's Beanie economics. If Exxon gasoline is in short supply, it doesn't mean it's suddenly more valuable & you can charge more at your Exxon gas station. There are alternatives -- people will simply switch to Shell. Tacking on "That's basic economics" at the end only shows that you're yet to grasp basic economics. Learn the difference between money and commodity and you'll know something about "basic economics". This thread is about Bitcoin, the shit-tier asset subnormals *spend* money on. >couldn't have answered it better than becoin Because you're no brighter than he is? Ah personal attacks. Well, he very well might be, haven't talked to him? much. Think this convo is over thanks for playing. Good bye.
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... No you're not competing with the other 15mil bitcoin market, as most of those bitcoins are NOT for sale. That's basic economics. ...
Nah, that's not basic economics, that's Beanie economics. If Exxon gasoline is in short supply, it doesn't mean it's suddenly more valuable & you can charge more at your Exxon gas station. There are alternatives -- people will simply switch to Shell. Tacking on "That's basic economics" at the end only shows that you're yet to grasp basic economics. Learn the difference between money and commodity and you'll know something about "basic economics". NLC 'tis you? And couldn't have answered it better than becoin
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The halving is priced in or we will see a huge pump? How many percent are your bets?
My bet is nothing much happens. There's a whole lot of noise taking up attention elsewhere. I'll be VERY surprised if we'll have this stable market all the way up to the halving in supply. I mean how accurate do you think they price these things in? Based on your sig, If Bitcoin is not allowed to grow, won't price decline? I mean it seems impossible to have price appreciation without growth. There is no way to stop growth that won't also stop appreciation. "And it leads to an obvious but crazy conclusion: if decentralisation is what makes Bitcoin good, and growth threatens decentralisation, then Bitcoin should not be allowed to grow." -Mike Hearn Yes, yes, and again yes. Until better solution is found, growth should not be achieved simply at the cost of centralization! Quote is from Hearn's rage quit. By growth he's talking about giving free access to something that is limited in supply by design. Think it's obvious that it won't work. Make a block 80MB and if it's free (or almost free) to fill up someone will. Utilization can continue to grow even if it costs few cents extra for a space in a block. I know damn well where it's from, but you didn't answer my question. Utilization can only grow until it hits the limit, at which point it can't continue to grow. In the process, of course I understand that low value transactions will be replaced by relatively higher value transactions that merit higher fees, but there is still a limit and because of the correlation between price and utilization, there is a limit on price. We can debate what that limit is, but it's there. There is a price beyond which a network congestion failure is an inevitable certainty if capacity is constant. This should be so obvious, it bewilders me that I even have to say it. What is the cognitive disconnect of smallblockers who think capacity limits aren't also price limits? Look, if price keeps going up, it's going to attract new users, traders, speculators etc. This is obvious. There is no way to stop it. The growth will continue to come until something prevents them from participating, like a physical inability to get their transactions processed. What else could stop them? The ONLY thing that I think would do it is if the price stopped rising. Do you have another idea? So either we will eventually get a network congestion failure or a complete halt in price appreciation without additional capacity. This is not an opinion. This is a logical certainty. If Bitcoin is not allowed to grow, won't price decline? Well yes at it's very basic can't argue against this. The flaw in your logic is that currently even with 1MB block we can technically reach 100% utilization in every single block. i.e. all of BTCs (15MM) can fit in a single block (if all of BTCs are transfered to few input addresses). Here's one transaction for BTC195K that only took up 7kb https://blockchain.info/tx/1c12443203a48f42cdf7b1acee5b4b1c1fedc144cb909a3bf5edbffafb0cd204It bewilders me that i have to explain to you there there can't be a network congestion failure, just a fee market economy. If you send a transaction now with 0 fees and it doesn't confirm is that a network congestion failure too? Again there is no such thing as a "physical inability to get their transactions processed" just a fee might be prohibitive and not worth it for a particular transaction.
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The halving is priced in or we will see a huge pump? How many percent are your bets?
My bet is nothing much happens. There's a whole lot of noise taking up attention elsewhere. I'll be VERY surprised if we'll have this stable market all the way up to the halving in supply. I mean how accurate do you think they price these things in? by now not only should all the halving be built into the price but so should each persons views on consensus, centralisation of mining etc. So I see it staying the price it is now ie $400+/- 5%. However it seems many posters have confused the halving issue - its not reducing potential 'supply" much at all ie the ability of people to buy coins. We already have millions you can buy and we are just halving the rate new coins come to the market. So once these people see after the halving there is no price rise a share will sell so the price will fall a little. I guess it will take 1 month after halving for them to all sell off some/all of their holdings and it will drop the price about 3%. so the price will then be $388+/-5. So sell some of your coins about mid June and and buy them back mid August for less. A 3% gain is not much in bit coin terms but it is virtually guaranteed. Who does not love free money. Right now someone is buying up* BTC3600 every single day. Come july only BTC1800 in new coins will be available for sale. With so much unknown your 3% math makes me laugh. *Someone doesn't mean one entity. Even if miners decide to carry BTC on their balance sheets then they're doing the buying themselves. when I buy a bitcoin post halving I am not competing with others to buy the 1800 just minted. I am competing with others in a 15 million bitcoin market. The lessening of supply by 1800 is peanuts and will not move the price. yes if miners keep their coins they are in effect buying them but at what price? Or rather what price do they wish to sell to pay for electricity etc. I understand alot of minors sell off market to big buyers at much lower prices than the "going' retail bitcoin price. you are right my 3% is just a guess. But there is no way of being accurate - all i know is the price rise as a result of halving is very very unlikely. what is your guess for the price in mid july? Post it and we will see who is more accurate then. No you're not competing with the other 15mil bitcoin market, as most of those bitcoins are NOT for sale. That's basic economics. I don't think we can go any further if you don't agree with basic supply vs. demand concept As far as predicting the price, i have 16 coins, and one of them will predict correct up/down market moves 4 times in a row!!!!!!
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The halving is priced in or we will see a huge pump? How many percent are your bets?
My bet is nothing much happens. There's a whole lot of noise taking up attention elsewhere. I'll be VERY surprised if we'll have this stable market all the way up to the halving in supply. I mean how accurate do you think they price these things in? Based on your sig, If Bitcoin is not allowed to grow, won't price decline? I mean it seems impossible to have price appreciation without growth. There is no way to stop growth that won't also stop appreciation. "And it leads to an obvious but crazy conclusion: if decentralisation is what makes Bitcoin good, and growth threatens decentralisation, then Bitcoin should not be allowed to grow." -Mike Hearn Yes, yes, and again yes. Until better solution is found, growth should not be achieved simply at the cost of centralization! Quote is from Hearn's rage quit. By growth he's talking about giving free access to something that is limited in supply by design. Think it's obvious that it won't work. Make a block 80MB and if it's free (or almost free) to fill up someone will. Utilization can continue to grow even if it costs few cents extra for a space in a block.
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The halving is priced in or we will see a huge pump? How many percent are your bets?
My bet is nothing much happens. There's a whole lot of noise taking up attention elsewhere. I'll be VERY surprised if we'll have this stable market all the way up to the halving in supply. I mean how accurate do you think they price these things in? by now not only should all the halving be built into the price but so should each persons views on consensus, centralisation of mining etc. So I see it staying the price it is now ie $400+/- 5%. However it seems many posters have confused the halving issue - its not reducing potential 'supply" much at all ie the ability of people to buy coins. We already have millions you can buy and we are just halving the rate new coins come to the market. So once these people see after the halving there is no price rise a share will sell so the price will fall a little. I guess it will take 1 month after halving for them to all sell off some/all of their holdings and it will drop the price about 3%. so the price will then be $388+/-5. So sell some of your coins about mid June and and buy them back mid August for less. A 3% gain is not much in bit coin terms but it is virtually guaranteed. Who does not love free money. Right now someone is buying up* BTC3600 every single day. Come july only BTC1800 in new coins will be available for sale. With so much unknown your 3% math makes me laugh. *Someone doesn't mean one entity. Even if miners decide to carry BTC on their balance sheets then they're doing the buying themselves.
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The halving is priced in or we will see a huge pump? How many percent are your bets?
My bet is nothing much happens. There's a whole lot of noise taking up attention elsewhere. I'll be VERY surprised if we'll have this stable market all the way up to the halving in supply. I mean how accurate do you think they price these things in? Who is they? You are talking about the overall BTC market price? BTC's Market price is determined by a large number of diverse people and entities with diverse agendas, and likely a lot of them consider what others are doing in order to decide their own behaviors (whether buying, selling or holding), and at the same time, some individuals/entities follow formulas based on their own perspectives and risk tolerances in order to front-run what they believe others are likely to do. I will concede that some "they s" are more powerful and influential than other "they s" in moving BTC's market prices, but even so, those they s likely do not determine with any kind of precision BTC's price movements. They = market makers. Whoever that might be.
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The halving is priced in or we will see a huge pump? How many percent are your bets?
My bet is nothing much happens. There's a whole lot of noise taking up attention elsewhere. I'll be VERY surprised if we'll have this stable market all the way up to the halving in supply. I mean how accurate do you think they price these things in?
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Don't see why everyone cares so much about Theymose? So they now there's a competing forum and reddit. Good decentralize... just stop spamming them
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omg sell now price going to $1 You are not in the Monero speculation thread . Some speculation: Now that Adam and most other high volume posters left (by getting banned or voluntarily), this topic's (and subsequently website) traffic has dropped drastically. This could be an unintended irreversible trend towards other places. What does this cost the owner of this website in loss of ad revenue, and will he stick to his guns after realizing what has actually happened? Never a dull day in Bitcoinland, that's for sure. Define sticking to his guns? Doubt revenue would effect Theymos much
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Does this mean that lambie and all of the other trolls are gone too? Maybe it's not such a bad thing after all
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Odd ChartFriend is absent too
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WTF is going on here. Now Adam is gone? Says he was online today? Adam?
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Decision point comes closer. And it doesn't look good for Bitcoin.
Transferred 100% out of cold storage into several exchanges.
Hodler for 4 years no more.
Yes sell all before the halfing in supply, sound strategy
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...It's a slidebar situation, not a binary one. The more you push the slidebar higher, the more problems you create. And pushing it just to satisfy the need for spam is irrational.
Yes, why others can't see it is beyond me. How much of centralization are you willing to sacrifice in order to support more dust transactions?
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Can't keep doing this, people will start running out of weed. Then this thread will be complete crap
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