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2521  Economy / Speculation / Re: Wouldn't it be nice if... on: August 23, 2015, 05:32:40 PM
I think Amazon accepting Bitcoin will result in a massive peak. That's what a lot people are waiting for.

It's 2015. No one with a brain believes merchant acceptance is a Bitcoin market driver.
2522  Economy / Speculation / Re: when the guys who own 10,000 bitcoin see their net worth drop below 1 million on: August 22, 2015, 06:09:58 PM
There's a good chance that someone who owns 10,000 coins either mined them or paid $100 for the lot. It would be sucky but that's still not a bad return. They would also have to be a bit daffy not to have pulled some money out when prices were higher.

If serious money was paid for that amount then that implies they're pros so should know better.

Exactly.

Most people who own 10,000+ are certainly not bothered by the movements of Bitcoin's price.

That is because either they didn't pay much for them or the amount they paid constitutes an infinitely small percentage of their total net worth ie. they're rich even with or without BTC.
2523  Bitcoin / Bitcoin Discussion / Re: Google have been conspicuously quiet about Bitcoin for 6 years. What gives? on: August 21, 2015, 01:15:56 PM
Here tinfoil hat theory  Wink :

Mike Hearn has been Google's mole in Bitcoin since the beginning.

Not only are they very interested in it, they have plans to compromise it and eventually become one of the major node service provider after their agents manage to bloat the blockchain enough so that only them and a couple other major corporations can run it.

Enjoy your morning!
2524  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 21, 2015, 02:42:21 AM
Quote
BitGold members with bank accounts at Chase, Bank of America, Wells Fargo, Citi, US Bank, USAA, Fidelity, Charles Schwab, Capital One and American Express will now be able to instantly deposit money from their bank account into Bigold, and vice versa.
http://bitgoldinc.tumblr.com/post/126948191730/bitgold-now-connected-to-nine-of-americas-largest

Damn, these guys are not messing around.

Tells you how little respect Bitcoin companies get from banks
2525  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 21, 2015, 02:36:21 AM

Don't you think that's just a touch hyperbolic? Godwin's Rule is already in play?

Involving Nazis ? Hyperbolic? never !  Grin

Still...

Ire of the masses? Check
Populist agenda? Check
Common enemy? Check
"Strong leader"? Check

Enough to raise an eyebrow IMO
2526  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 21, 2015, 01:59:43 AM

It doesn't change the fact that the core devs have known about this issue for years and can't even come to an agreement on the direction much less the implementation of the scalability issue. Some are even arguing that we don't need to scale bitcoin at all because we can work around the limit.  

Consensus only works until it doesn't. Then leadership is needed. I'm as anti-government as it gets, but this conspiracy crap is getting ridiculous. It's trivial to flip the switch that allows TOR routing, so individual nodes can turn it on or off depending on their security concerns.  

Jesus Christ on a pogo stick, y'all are aggravating. I understand exactly why Gavin and Hearn released XT.

maybe Maggie Thatcher was right when she said "Consensus is the abdication of leadership."


You know I thought about this a lot today and had quite some reflections about it on twitter.

The leadership you refer to, it reminds me of Hayek. Here is what he had to say on the matter:

Quote
We must here return for a moment to the position which precedes the suppression of democratic processes and the creation of a totalitarian regime.

In this stage it is the general demand for quick and determined central government action that is the dominating element in the situation, dissatisfaction with the slow and cumbersome course of democratic processes which make action for action's sake the goal.

It is then the man or the party who seems strong and resolute enough to "get things done" who exercises the greatest appeal.

"Strong" in this sense means not merely a numerical majority - it is the ineffectiveness of parliamentary procedure with which people are dissatisfied.  What they will seek is somebody with such solid support as to inspire confidence that he can carry out whatever he wants.

Are we forgetting history and just about to repeat it? I sure hope not.

You get Austrian cred for quoting Hayek, but nobody is using, threatening or advocating physical force be used or initiated.  Leading is not the same as ruling.

I don't believe the "Final Solution" was included in the National Socialist party pamphlet either  Wink

Quote
Yet, though the road be long, it is one on which it becomes more difficult to turn back as one advances.
2527  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 21, 2015, 01:33:28 AM

It doesn't change the fact that the core devs have known about this issue for years and can't even come to an agreement on the direction much less the implementation of the scalability issue. Some are even arguing that we don't need to scale bitcoin at all because we can work around the limit.  

Consensus only works until it doesn't. Then leadership is needed. I'm as anti-government as it gets, but this conspiracy crap is getting ridiculous. It's trivial to flip the switch that allows TOR routing, so individual nodes can turn it on or off depending on their security concerns.  

Jesus Christ on a pogo stick, y'all are aggravating. I understand exactly why Gavin and Hearn released XT.

maybe Maggie Thatcher was right when she said "Consensus is the abdication of leadership."


You know I thought about this a lot today and had quite some reflections about it on twitter.

The leadership you refer to, it reminds me of Hayek. Here is what he had to say on the matter:

Quote
We must here return for a moment to the position which precedes the suppression of democratic processes and the creation of a totalitarian regime.

In this stage it is the general demand for quick and determined central government action that is the dominating element in the situation, dissatisfaction with the slow and cumbersome course of democratic processes which make action for action's sake the goal.

It is then the man or the party who seems strong and resolute enough to "get things done" who exercises the greatest appeal.

"Strong" in this sense means not merely a numerical majority - it is the ineffectiveness of parliamentary procedure with which people are dissatisfied.  What they will seek is somebody with such solid support as to inspire confidence that he can carry out whatever he wants.

Are we forgetting history and just about to repeat it? I sure hope not.

2528  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 21, 2015, 12:06:27 AM

unfortunately did not get the chance to mingle with him. can you confirm this would be the same one that used to hang here?
2529  Bitcoin / Bitcoin Discussion / Re: Bitcoin XT has code which downloads your IP address to facilitate blacklisting on: August 20, 2015, 11:48:28 PM
turvarya - It is nonsensical to jump into a debate to accuse one of the participants if you have no knowlege of the course of this debate. I was only reacting to an attack by meono, and I am just one of the people he attacked. I have posted enough arguments, but you ignoring that fact and jumping to conclusions is interesting in and of itself.

Let me guess turvarya, do you support XT? If so, please tell us why exactly?
I am all over this XT-bashing-threads, I read most of them. And again, I was in this thread before you. And again, I can just beg you, to stick to the facts.

Why do I support XT? Because there is currently no better solution. If another solution arrives(in code not just endless talk), I might jump ship. I am not really that big of a fan of Mike Hearn and I don't like the position, that I have to defend BitcoinXT, but I just can't stand the bullshit, that is all over this place.

Who told you there was need for a solution? Mike Hearn?

What is the problem?
2530  Economy / Speculation / Re: Analysis never ends on: August 20, 2015, 11:42:43 PM
Apologies luc but I feel this might just be the most important article anyone can read on the block size issue:

http://shitco.in/2015/08/19/the-bitcoin-xt-trojan/

Enjoy your trading!
2531  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. [NooNooPol] on: August 20, 2015, 11:30:57 PM
Le Bron James got benched?

He's going to be out all season, something about a burn injury.   Cool



His mentor laying out the final blow?

http://shitco.in/2015/08/19/the-bitcoin-xt-trojan/
2532  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2015, 11:23:29 PM
http://shitco.in/2015/08/19/the-bitcoin-xt-trojan/

goat chiming in
2533  Economy / Speculation / Re: Analysis never ends on: August 20, 2015, 10:09:34 PM
Funny thing is, we haven't seen Bitcoin in a bear market yet.

I beg to disagree, unless you're talking about the monthly chart and very long timeframes. One could argue that the 2013 $266-$60 action was reaccumulation, but there is little doubt that heavy distribution occurred in Nov/Dec 2013 which unraveled nearly 100% of that bubble.

I don't think many fund managers even own Bitcoin nor is it on many institutional radars yet. If they don't have bitcoins to sell they probably won't all rush in to sell short during a bear market, especially after a year long downtrend and a weekly double bottom. For that reason digital currencies seem to me a bit detached from existing markets. On the other hand, worldwide economic fear is what has "driven" many of the past price increases in Bitcoin so a worldwide slump could bump up demand... and in a market dried up from selling after a year of it, that could launch a big trend.

I had the same immediate reaction but I believe what he means to say is we haven't seen Bitcoin during a financial bear market
2534  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2015, 09:02:15 PM
If there is consensus right now amongst relevant actors, it's that XT is not that solution.
Depending upon the definition of relevant actors.
I seriously doubt that "we", "the community" will be regarded as most relevant.
There is no "we, the people" in business.

In general there is no "we, the people". It's just socialist propaganda.

Ok, now I understand. You're a nutter. Damn you internet!

TIL takine a stand for individual freedom = being a nutter
2535  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2015, 08:40:12 PM
If there is consensus right now amongst relevant actors, it's that XT is not that solution.
Depending upon the definition of relevant actors.
I seriously doubt that "we", "the community" will be regarded as most relevant.
There is no "we, the people" in business.

In general there is no "we, the people". It's just socialist propaganda.
2536  Economy / Speculation / Re: Accumulation Phase on: August 20, 2015, 08:34:05 PM

So far in 2015 there have been excellent buying opportunities indeed.

I'm personally 'out of the game' as someone who took my position in an earlier generation.  I'm mostly just trying to give an honest appraisal of how I would be reading the card deck now.  I could be wrong...I often am.

I sure hope you're right.

I am persistent in "fighting the good fight" as you've previously mentioned and my confidence in BTC is somewhat unshakeable but I didn't get the chance to hop in so early and the bag is getting pretty heavy  Cheesy
2537  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2015, 07:12:44 PM
Advice: Just think of XT as a security valve. If the core deadlock continues, the miners will opt out Wink

And leave Bitcoin in the hands of "benevolent" dictator Mike Hearn and his blacklists? Sure...  Roll Eyes

... there is no reason why the core devs can't update the fork when the dust settles.

"Update the fork" ?

How is that suppose to work again?

You just negotiate a deal with the NSA where you provide chinese miners as slaves in return for access to the mothership.

Or find common ground with the XT team and agree on an update. Or just do what Gavin and Hearn is doing.

Nahh.. NSA/Mothership.

common ground with the XT team ??  Cheesy Cheesy you haven't been following too well have you.

there is no place for common ground in XT: https://bitcoinxt.software/faq.html#who-is-involved

Quote
Decisions are made through agreement between Mike and Gavin, with Mike making the final call if a serious dispute were to arise.


... and he will include a link to the new code fork on his pages.

I'm sure he will welcome the pull request of everyone who NACKed him over the years with open arms  Wink
2538  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2015, 06:13:21 PM

That is all they got in the 0.022 years since the 8 MB XT code was released.  They have only  316'000 minutes left before the end of the year.  What a flop.

That's if we're to assume all these nodes are in actual XT-nodes  Wink
2539  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2015, 06:12:22 PM
About 12% of nodes are running XT with zero blocks mined.

If this number doesn't start rising XT will be DOA, Bitcoin will have worked as intended, and Gavin/Mike will have egg on their face for unnecessarily causing a rift and spooking the market.

I support a block size increase but not something as contentious as XT. There has to be a better solution.

Personally I think this will blow over soon and better solutions will be found.

I think the longer this debate continues the more toxic it will be for Bitcoin. One of my main interests in Crypto right now is as a counterbalance to financial instability I'm anticipating in September/October of this year. If there is a big market crash and/or US Dollar devaluation then Bitcoin may not stand to benefit at all if this debate isn't settled by then (and it looks like it won't be, what with conferences in September and November/December about this scaling issue). There is no such uncertainty about a contentious fork lingering over Litecoin for instance, so if Bitcoin looks to be in shambles throughout the rest of 2015 then don't be surprised if an altcoin might just overtake BTC in terms of market cap. The XT implementation doesn't seem like a big deal to me, although I would prefer it if the alternatives to XT were more clearly defined.

Never happening in a million years. Litecoin should not be considered "safe" just because there is no contentious fork... the infrastructure simply isn't there.
2540  Economy / Speculation / Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion on: August 20, 2015, 05:47:28 PM
can we have a sort of crowdfunding to pay core devs? like "put your money where your mouth is"? where is the Bitcoin Foundation when you really need them?

Bitcoin Foundation was the first attempt by Gavin at hijacking and centralizing Bitcoin development under his reign. They can stay in the dirt where they currently rest
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