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There are alot more of these threads from where this one came.
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Gold Collapsing. Bitcoin bottoming.
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everyone should go back and look at the mtgox chart bottom time frame for this period in 2011. it lasted about one month before drifting back up to btwn $4-5 for another 6 mo.
we're almost to one month right now for this current bottom.
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Bitcoin volatility? pfffft:  |
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i love this chart. can't get enough of it. it's a record after all. down 99.83% from its 2007 high. how low can it go? dead, dead, and deader:  |
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this must be bullish, right?  |
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Dow rolling again. -100.
desperately trying to stay up.
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The failure of fiat money will be totally self-imposed. It will be the product of pure hubris. But it will dramatically hasten adoption of Bitcoin. Bitcoin’s killer app isn’t some clever tipping or multisig feature. It’s killer app is merely the stability of the monetary supply. That doesn’t sound very sexy. But in today’s world, in which paper money has failed so badly in the most basic function of currency, that’s saying a lot.https://medium.com/@abarisser/central-banks-will-hasten-the-rise-of-bitcoin-fb1973c671e9
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i like your idea of fees for relay nodes. i run 5 at my cost for the network. i'd run more if i were paid. |
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Thanks for writing that. It finally clears up what you've been talking about. Just curious, what are your thoughts about how price discovery will deal with Bitcoin price fluctuation?
Bitcoin exchange rate fluctuation would be no different than any other factor which will affect the price of various services on a day-to-day basis. Suppliers of services will not do so very long at a loss, so they'll only accept prices that don't work out to be a loss for them. That basically means that fees would adjust automatically to exchange rate changes. that quote from your article should be changed, as i know you didn't mean it the way it reads. you mean "limited by market prices". |
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He made a technical error in the article; a low hashrate of a fork wouldn't extend the time between blocks. It only would make them less secure.
really? I would had thought it would be the case at least until the next diff re-target, no? well, a hard fork new chain gets started with x hashing rate. blocks are 10 min apart, just like they were with Bitcoin back in 2009. any increases in hashing rate from miner adoption that decreases the frequency below 10 min is automatically adjusted every 2 wks with difficulty. we've never had a problem with block intervals going to days or weeks in Bitcoin so why should it happen with a new chain, given it is a hard fork with minimal protocol changes? |
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Coinbase, BitStamp, and Blockchain.info upgrade. These nodes provide a lot of the infrastructure for Bitcoin, so if they do not upgrade, Bitcoin New will be a lot less useful. However, these nodes are in it for profit, so they will tend to go where the money is. They cannot necessarily afford to wield the influence they might have at the risk of short-term losses. He's totally wrong about that. All three of those are startup companies that exist and are funded in order to achieve a large future payoff, generally at the explicit cost of short term losses. They will do what they feel provides the best long term payoff. Avoiding short term losses is relatively to entirely unimportant to them. That still may not be the choice of fork that he or you or I would prefer however. right. small start ups can also be investors. altho generally, i think he's right. the bigger they get, the more they are beholden to other shorter term investors in the company, to payrolls, to fixed and variable expenses, and then to IPO's and being public. |
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If I didn't know better, I'd think he was talking about SC's. He made a technical error in the article; a low hashrate of a fork wouldn't extend the time between blocks. It only would make them less secure. |
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Cyprus did not cause the April 2013 rally. I don't know why everyone thinks that... Also, Greece isn't going to impact bitcoins price.
correct. I keep pointing it out myself, but people don't listen to reason a lot these days. I don't know why everyone thinks that...
I do: people like a good simple story.There's a part of the brain that is responsible for making sense of everything (after the fact). It's a lazy bastard. I'm beginning to suspect human history looks a lot different from what is depicted in history books. Maybe we should start putting stuff into blockchains (or _the_ blockchain) so it can't be changed later... is that what factom is doing, btw? yes factom is hashing for proof of existence using the blockchain doesn't the initial insertion/verification of the factom data into the blockchain introduce a centralized, potentially corruptible, weak point in the system? regarding the centralized, potentially corruptible, weak point in the system that inserting data into the blockchain presents- this is potentially true if we were to take raw data - however, Factom only inserts a hash into the blockchain, not the data itself. but the raw data from which the hash is derived can contain corruptible data. as an example; the mountains of mortgage loan docs. someone can insert a fraudulent doc stating your home reverts to them in 5 yrs w/o your knowledge. no one reads all these docs. this gets hashed and inserted to BC thus memorializing that fact. |
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Cyprus did not cause the April 2013 rally. I don't know why everyone thinks that... Also, Greece isn't going to impact bitcoins price.
correct. I keep pointing it out myself, but people don't listen to reason a lot these days. I don't know why everyone thinks that...
I do: people like a good simple story.There's a part of the brain that is responsible for making sense of everything (after the fact). It's a lazy bastard. I'm beginning to suspect human history looks a lot different from what is depicted in history books. Maybe we should start putting stuff into blockchains (or _the_ blockchain) so it can't be changed later... is that what factom is doing, btw? yes factom is hashing for proof of existence using the blockchain doesn't the initial insertion/verification of the factom data into the blockchain introduce a centralized, potentially corruptible, weak point in the system? |
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Has Greece indeed lost everything, allowing it to be finally free to do anything?
When Greece loses everything, they lose it. |
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