What's driving this rally?
Greed, supply and demand. Agreed. It looks like (for now) Bitcoin is following the markets - perhaps a surprising thing, but it's been doing so lately. Futures are on the rise today also. Relation?Of course. You should know by now that bitcoin is going to save the world from total collapse.
|
|
|
What's driving this rally?
Greed, supply and demand.
|
|
|
Please remove all those low liquidity junk coins dangling below. In place, add some extra exchanged for the more voluminous coins.
|
|
|
Whoops, playing with some cold wallet method and forgot to save the private key before I rebooted to offline modus. Luckily I was just testing and this was precisely what I wanted to test. 0.0004 BTC lost forever.
|
|
|
Lol, bussy for hours reading stuff and trying things. Nice to figure out you can just feed this script a private hex key as an argument But, always nice to learn the inner workings of bitcoin. Thanks again, this was precisely what I wanted.
|
|
|
Excellent. I already found out the hashlib myself but you greatly helped me with the rest. I tested it with a Base6 number, converted to 256hex through 'bc' and then your script. The result was the same when I used the strings at bitaddress.org. I'll donate you and dserrano5 some symbolic satoshis, thanks again. Glad you got it working! I find that -i (to drop you into the interpreter after execution) particularly helpful when debugging python programs. Satoshis always apprecated (profile address works fine), symbolic or otherwise Do you also have a routine to create a bitcoin public address with python? edit: I think this is what I was looking forToo bad, way too much source code. I'm still interested in a routine for public key generation
|
|
|
Let me know if you're still stuck.
Excellent. I already found out the hashlib myself but you greatly helped me with the rest. I tested it with a Base6 number, converted to 256hex through 'bc' and then your script. The result was the same when I used the strings at bitaddress.org. I'll donate you and dserrano5 some symbolic satoshis, thanks again.
|
|
|
I assume you can figure out how to convert your number into 256bit hex?
Yes, I could do it manually but dserrano5 above pointed me to function 'bc' which I can use on my linux machine. If so, the following works fine for me: b58 = '123456789ABCDEFGHJKLMNPQRSTUVWXYZabcdefghijkmnopqrstuvwxyz'
def base58encode(n): result = '' while n > 0: result = b58[n%58] + result n /= 58 return result
# https://en.bitcoin.it/wiki/Base58Check_encoding def base58CheckEncode(version, payload): s = chr(version) + payload checksum = hashlib.sha256(hashlib.sha256(s).digest()).digest()[0:4] result = s + checksum leadingZeros = countLeadingChars(result, '\0') return '1' * leadingZeros + base58encode(base256decode(result))
def privateKeyToWif(key_hex, compressed=False): if compressed: key_hex=key_hex+'01' return base58CheckEncode(0x80, key_hex.decode('hex'))
^^^ That's python, but you could use another language if you want. In the above, key_hex is a string. Here's an example of me using it.: So I've put that code into a file called 'bitoin.py' Then I entered python and figured I had to import that code as a module(?) I did this No problem so far. >>> k="1111111111111111111111111111111111111111111111111111111111111111" >>> privateKeyToWif(k) '5HwoXVkHoRM8sL2KmNRS217n1g8mPPBomrY7yehCuXC1115WWsh' >>> privateKeyToWif(k, compressed=True) 'KwntMbt59tTsj8xqpqYqRRWufyjGunvhSyeMo3NTYpFYzZbXJ5Hp'
This is where I'm stuck. I can enter the 'k', but then I get this: >>> privateKeyToWif(k) Traceback (most recent call last): File "<stdin>", line 1, in <module> NameError: name 'privateKeyToWif' is not defined
What am I doing wrong? I don't have any experience with python. (too many languages to know them all)
|
|
|
BTC price has never seen this stability EVER - so hold on to your butts, we're in for a brutal ride one way or the other.
Morning doji^2 says I should buy myself some extra blockspace on the blockchain, these gigabytes are a real bargain right now.
|
|
|
Thanks, but what a bunch of morons in that thread. I only read retarded opinions which prove nothing. Why would satoshi prove himself to be real for a bunch of idiots? I would do exactly the same if I was Satoshi, including not spending my coins... Again this system (bitcoin) is worth below zero it only functions with him. Just like kids. You can't keep raising them after adulthood. You need to let it go. Knowing this, there is no other benefit for him to sign a message other than satisfying his ego and become a very famous man again, a man who would be even more unable to distance himself from bitcoin again.
|
|
|
The consensus seems to be that this is bull, and not the real Satoshi.
Where can I find more about this consensus? There is no reason to believe it is fake for me. This is what Gregory Maxwell said about it, I agree: You seem to be assuming that there is specific reason to believe the message is unauthentic. This is not the case.
Contrary to other poster's claims, if the message had been PGP signed that might, in fact, have arguably been weak evidence that it was unauthentic: no message from the system's creator that I (or apparently anyone) was aware of was ever signed with that key.
The headers on the message check out. The mail server in question is also not an open relay. At the moment the only reason I have to doubt the authenticity of it is merely the fact that it exists after so much air silence, but that isn't especially strong.
In the presence of doubt, it's better to take it just for its content. And on that front it is more on-topic, civil, and productively directed than a substantial fraction of new messages on the list. I certainly do not see a reason to hide it.
A focus on the content is especially relevant because one of the core messages in the content is a request to eschew arguments from authority; which is perhaps the greatest challenge here: How can the founder of a system speak up to ask people to reject that kind of argument without implicitly endorsing that approach through their own act?
This whole tangest is a waste of time. If you believe the message is unauthentic or not the best response is the same as if it is authentic. Focus on the content. If its worth responding to, do. If it's not don't. Then move on with life.
|
|
|
I think you are wrong...Gavin was chosen by Satoshi and the mistake Gavin did in my opinion is that he was too kind and let github access to 4 other people, who turned against him and Adam from Blockstream even proposed revoking his commit access, which i think is pretty sneaky under the belt move...and if you want to follow this guy, go ahead, from your post history i would bet you will not like sane and kind people anyway
Satoshi does not agree with BitcoinXT. This is what he said on the bitcoin-dev mailinglist two weeks ago(!): I have been following the recent block size debates through the mailing list. I had hoped the debate would resolve and that a fork proposal would achieve widespread consensus. However with the formal release of Bitcoin XT 0.11A, this looks unlikely to happen, and so I am forced to share my concerns about this very dangerous fork.
The developers of this pretender-Bitcoin claim to be following my original vision, but nothing could be further from the truth. When I designed Bitcoin, I designed it in such a way as to make future modifications to the consensus rules difficult without near unanimous agreement. Bitcoin was designed to be protected from the influence of charismatic leaders, even if their name is Gavin Andresen, Barack Obama, or Satoshi Nakamoto. Nearly everyone has to agree on a change, and they have to do it without being forced or pressured into it. By doing a fork in this way, these developers are violating the "original vision" they claim to honour.
They use my old writings to make claims about what Bitcoin was supposed to be. However I acknowledge that a lot has changed since that time, and new knowledge has been gained that contradicts some of my early opinions. For example I didn't anticipate pooled mining and its effects on the security of the network. Making Bitcoin a competitive monetary system while also preserving its security properties is not a trivial problem, and we should take more time to come up with a robust solution. I suspect we need a better incentive for users to run nodes instead of relying solely on altruism.
If two developers can fork Bitcoin and succeed in redefining what "Bitcoin" is, in the face of widespread technical criticism and through the use of populist tactics, then I will have no choice but to declare Bitcoin a failed project. Bitcoin was meant to be both technically and socially robust. This present situation has been very disappointing to watch unfold.
Satoshi Nakamoto
If you follow the mailinglist further you can find some analysis it was not a spoofed email address. But whether this was the real Satoshi or not, is doesn't matter what he thinks or wants. Bitcoin can only have value if there is no central decision maker, and that what he also tried to explain on the mailinglist.
|
|
|
Oh man, thanks. You just summed up this discussion with one image. I'm rolling on the floor LMAO.
|
|
|
If I'm not buying blockspace when I'm buying bitcoin, then what the hell am I buying? You can't charge rent on something you've already sold. That's not how business works. That's how the State works.
"Which is better - to be ruled by one tyrant three thousand miles away or by three thousand tyrants one mile away?" ~ Mather Byles
I dunno, Mather. Looks like the same shitty deal to me.
How can you possibly equate buying bitcoin with buying block space How's that supposed to work? How many "blockspace" do I get for 1 bitcoin? Easy. 1/21,000,000th of the whole chain. I answered your question, now you answer mine. If I'm not buying space on the blockchain when I'm buying bitcoin, what am I buying? You are buying space on the ledger, not the block. You need to pay to move these bitcoins to a different address on the ledger. So for 1 bitcoin I get 1/21,000,000th of the whole chain? Are you for real? Were you hit over the head with something? Nope. I get one twentyone millionth of the whole damn chain. 4 eva. If you think that's too much, then perhaps you are selling your coins too cheaply. But if you really are convinced about this concept, you must be a big opponent of blockchain pruning (only store unspent outputs of all addresses) right? Spoiler alert: It's already implemented
|
|
|
The maximum it would take to absolutely guarantee a 100MM market cap would be $100,000,000 but would almost certainly be a fraction of that. Throw in a plunge protection team to smooth out the most extreme volatility and you'd have a coin anyone and everyone would want to buy or mine.
Ah come on, you. must. be. joking.
|
|
|
There is NO evidence that the centralization of mining that happened so far was due to the natural growth in the block sizes, or that such growth would affect it in the foreseeable future.
You can say the same for worldwide mass adoption to use bitcoin as a payment network for micro transactions. Just optimize the mempool and reject zero (and micro) fee transactions to prevent out of memory nodes. The market will take care of the rest.
|
|
|
It's important to consider those who forgo investing in utilizing the system because it is currently capped at 2.7 effective tps.
If you put the actual cost (without block reward) of processing a bitcoin transaction on the user, bitcoin would die tomorrow. Maybe not completely, but it would be like pokemon cards for the "old money" hodlers.
You may think that permissioned sidechains will deliver us from not having the throughput to survive on fees alone, but I think that's an even bigger gamble.
It sounds corny, I agree, but billyjoe's Scale or Die has some truth to it.
It is equally important to recognize the actual utility value of Bitcoin. I wouldn't blame anyone on foregoing transactional use of Bitcoin seeing its very real shortcomings as a payment system. Let us be honest with ourselves this system is absolutely not ready for mainstream consumer acceptance and we shouldn't be concerned about consumers looking the other way. Give it some time and the necessary infrastructure and tools to abstract the highly technical and generally confusing nature of Bitcoin will be built. We should also admit that these mainstream users looking for an efficient payment system do not care at all about the decentralization or security of the thing. Let's be real here regular joes just want something that works, centralized or not. The people pouring big money into Bitcoin (I'm talking about buying bitcoins) couldn't care about its transaction capacity at the moment. Most rational investors are in it for the long haul and a majority of the coins are kept in cold storage and paper wallets where they haven't and won't move for years. There shouldn't be any urgency to cater to a userbase which is inexistent as it stands. Technology will evolve over the next few years and will provide the necessary tools for proper, actual scaling of the system. No amount of block size increase will allow us to serve a mainstream consumer base doing hundreds of thousands of transactions per seconds. Bitcoin is not designed to handle this load while staying secure & decentralized. +1 And that's why I say this whole debate is one giant psyop fearfest. It's a message to the pigs they should sell. Hell, a few days ago I found out that I even owned bitcoin before the inventor(1) of hashcash(2) did.These guys (as an individual and as a group) know they have the power to move the markets. Just focus on the charts, there are two doji stars on the weekly for god's sake. 1. Adam Back 2. Mining algo used in bitcoin
|
|
|
These cripplecoins are always many magnitudes better than our current quasi finite monetary counterpart (gold)
That's true...except for capacity. There is no limit to the number of gold transactions/second. Brings up an interesting point. How many physical gold transactions are currently made in the market? Physical? Hard to calculate. Every jeweler, coin shop, pawnshop, futures settlement, paper gold redemption, dentist, mint, speaker wire purchase and bottle of Goldschläger would have to be included. I'm certain it's orders of magnitude over 7 tps. Fair enough, I agree 7 tps is too small to cover current physical gold settlements although some are rather utility than investment grade settlements.
|
|
|
These cripplecoins are always many magnitudes better than our current quasi finite monetary counterpart (gold)
That's true...except for capacity. There is no limit to the number of gold transactions/second. Brings up an interesting point. How many physical gold transactions are currently made in the market?
|
|
|
|