A SJW is a communist. We use a different term at the moment because humans are frightened animals that refuse to accept that we are sliding back towards state totalitarianism.
I didn't realize there was an actual time period since the dawn of civilization where we slipped out of state totalitarianism. So not quite sure how we are going slip back into a state that we are already in.  Sure, some forms may appear more benign than others. However, when push comes to shove, any government will show it's true nature and unleash its full power over the "common" people. I don't care what label you put on it. Communism, socialism, democracy, fuedalism, imperialism, rebublic: all just the same bullshit. Just repackaged. And no, I'm not an anarchist either. Mob rule, which is what anarchy would degrade to, would be just as bad. https://www.youtube.com/watch?v=mPVpMxVn6mk |
|
|
|
its their hot wallet, and they are just lazy, glad ill dont have hash, but intend to reinvest after the fork a little BIT, not more then 1/3 capital ,... by the way will they support BTC gold like BCH?
I would be surprised if they support Bitcoin Gold. Bitcoin Gold is basically trying to flip the bird to Bitmain.  |
|
|
|
And why did they call it Bitcoin Gold? It has absolutely nothing to do with gold (e.g.- a coin backed by actual physical gold would make sense to be called Bitcoin Gold. But then it wouldn't have been Bitcoin at all w/o mining).
It shoulda been called BitGPUTM, or something similar.
Kids these days, they absolutely SUCK at marketing and branding.
It goes along the same lines as credit cards. Maybe we will get BitcoinPlatinum next. "Don't leave home without it." "What's in your wallet?" |
|
|
|
Since when is the cryptocurrency world about being held accountable to anyone? That is not the cyberpunk way. Just code and release. The more disruptive it is, the better. Also, the arbitration process you are so fond of usually involves a third party. Who? The government? Some outfit that is employed by the other party? Judge Judy?  If someone steals from you, the cyberpunk way is to find the perpetrator and hack them. Don't have the expertise to do that? Then find an ally who will help you out and pray they don't screw you up more in the process. ╥Aztek It's obvious that you just don't get it. It's called vigilante justice via code. That is the cyberpunk way. The only way to gain power in the cryptocurrency world is to learn how to code or at least know how to properly implement any tools provided by others, at maximum disruptive effect. Otherwise, you are just chattel at the mercy of the powers that be. If you really felt that way , you would be COMPLETELY OPPOSED TO OFFCHAIN Transactions , Also the only true power is granted by the code, with a PoW based coin, goes to the miners that can afford the warehouses full of ASICS. If you really want offchain , use paypal. You never did answer the question.╥Aztek All LN is going to be is a smart contract implemented off chain. That is not necessarily "centralized." A program or service does not need to be only implemented on a blockchain to be decentralized. Since LN is going to be a smart contract, it's code will basically be the "law" for any transactions implemented on it. If the code if fucked up, then the party who distributed the software "could" be held liable, and you can sue them. However, I am sure there is going to be some type of EULA attached to it to basically make it a "use at your own risk" proposition. If you use the LN through a third party, and they somehow fuck up the implementation with their interface, then you can try to sue them. Naturally, any third party site is going to have a TOS, that once again will effectively make it a "use at your own risk" proposition. In other words, if you don't like LN, then don't use it. If you don't like Segwit, then don't use it. If you don't like Bitcoin Core, then don't use it. You literally have over 1000 choices of what you can use in the cryptocurrency realm alone. If you don't like any of them, just fork off, and convince others to go with you. |
|
|
|
Why are people dumping before the Oct. 25 fork  Because nobody gives a flying fuck about Bitcoin Gold. Actually, some of us actually could give two fucks. But that's about it. |
|
|
|
Since when is the cryptocurrency world about being held accountable to anyone? That is not the cyberpunk way. Just code and release. The more disruptive it is, the better. Also, the arbitration process you are so fond of usually involves a third party. Who? The government? Some outfit that is employed by the other party? Judge Judy? If someone steals from you, the cyberpunk way is to find the perpetrator and hack them. Don't have the expertise to do that? Then find an ally who will help you out and pray they don't screw you up more in the process. ╥Aztek It's obvious that you just don't get it. It's called vigilante justice via code. That is the cyberpunk way. The only way to gain power in the cryptocurrency world is to learn how to code or at least know how to properly implement any tools provided by others, at maximum disruptive effect. Otherwise, you are just chattel at the mercy of the powers that be. |
|
|
|
So you believe that we need to "think small" and only account for the current demand? Don't we want to expand and take over the world? Furthermore, if you want to topple the banking industry, shouldn't you be trying to outmatch their weapons? Or should we continue to bring a knife to a gunfight? Also, I would prefer to eliminate the need for the exchanges all together. Atomic swaps have good potential to get rid of the middle man. (The only middle man that is required would be if you want to convert to fiat. But aren't we trying to purge the world of the fiat system?) Furthermore, most exchanges do not move the coins immediately to your own control. You have to rely on the exchange to actually honor the withdrawal when you request it. (This seems to be a problem. I see Bitcointalk, reddit and Twitter regularly littered with complaints that basically go like this, "XYZ exchange hasn't processed my withdrawal in upteen days and hasn't responded to my support tickets.  ") Also, relying on governmental judicial systems to return what is stolen, is of no comfort to me. Do you really think the US Judicial system is going to return all of those coins that they confiscated from BTC-e to the users in a prompt manner, if at all? LN gives the banking industry exactly what they want, LN Hubs that will require a banking license, which only they can afford. WHO DO YOU SUE WHEN LN/SEGWIT FUCKS UP?You prefer LN which has no real accountability and no liability for making sure your transactions went thru. Are their unicorns in that fantasy world you live in?  Offchain requires you relied on a 3rd party, by using LN, you give up the right to have another outside party make sure you received your payment. Otherwise you give up any arbitration of conflict by using LN, nothing could be dumber than that. ╥Aztek Since when is the cryptocurrency world about being held accountable to anyone? That is not the cyberpunk way. Just code and release. The more disruptive it is, the better. Also, the arbitration process you are so fond of usually involves a third party. Who? The government? Some outfit that is employed by the other party? Judge Judy? If someone steals from you, the cyberpunk way is to find the perpetrator and hack them. Don't have the expertise to do that? Then find an ally who will help you out and pray that they don't screw you over more in the process. |
|
|
|
1st off ,
The stupidity is Bitcoin does not yet need to scale to beat visa, it does need to scale to match the current transactions volume and keep fees from skyrocketing.
Of which Bitcoin Cash 8X onchain capacity more than succeeds in doing. As far as the limits to onchain scaling , internet speeds increase every year, what is unlikely today will be most likely in the future.
Can offchain solutions provide faster transactions, sure Exchanges that perform offchain transactions within their own systems can give unlimited scaling.
Advantages of using an exchange for offchain scaling over LN, includes
Lower Fee structure
No time locking of coins
No banking license require to run an LN hub , (LN does not trade the actual coins but IOUs, Exchanges move the actual coins to your control immediately.)
Greater Accountability:
( If an exchange offchain transaction is not redeemed, you sue the exchange, if an LN hub offchain IOU is not redeemd , there is no one to sue, you are just Shit out of luck.)
Shitwit design has been nothing but the Banking Industry attempt to control all of crypto and keep all of the dumbasses in financial slavery, of their creating false fractional reserve IOUs out of thin air.
╥Aztek
So you believe that we need to "think small" and only account for the current demand? Don't we want to expand and take over the world? Furthermore, if you want to topple the banking industry, shouldn't you be trying to outmatch their weapons? Or should we continue to bring a knife to a gunfight? Also, I would prefer to eliminate the need for the exchanges all together. Atomic swaps have good potential to get rid of the middle man. (The only middle man that is required would be if you want to convert to fiat. But aren't we trying to purge the world of the fiat system?) Furthermore, most exchanges do not move the coins immediately to your own control. You have to rely on the exchange to actually honor the withdrawal when you request it. (This seems to be a problem. I see Bitcointalk, reddit and Twitter regularly littered with complaints that basically go like this, "XYZ exchange hasn't processed my withdrawal in upteen days and hasn't responded to my support tickets. ") Also, relying on governmental judicial systems to return what is stolen, is of no comfort to me. Do you really think the US Judicial system is going to return all of those coins that they confiscated from BTC-e to the users in a prompt manner, if at all? |
|
|
|
We live in a declining culture. When a culture is in the ascent people are rational and cooperative because all the people who weren't fucking died along the way. Past the peak, which I estimate to have happened in the 80s, people who literally think like children become an ever-increasing majority and the few rational people left are out-grouped. And then a lot of people die and the cycle resets.
So rational people find scapegoats to blame many of the ills of society, and think that somehow banishing the scapegoats is going to bring us to some kind of resolution? Okey dokey, we'll roll with that.  Newsflash: even if the scapegoated group actually does cause many of the ills, and they are effectively "neutralized", some other group will come along and fill in the gap. Projection is what the left does. This is just description. And no, there is no solution. Of course there is no solution. Human beings are flawed entities. Our outsized brain requires a lot of energy, so we are predatory and territorial by nature. "Becoming Vegan" is no solution either, since in order to ensure our brains have enough nutrition, one needs a lot of territory. Life, in general, just isn't fair. There will always be a life form that uses an advantage and exploits another life form. Even plant life has its parasites. Even the trees, that grow up high and have their canopies spread wide are doing so at the expense of all the plant life below that have to settle for the slivers of sunlight that reaches them. |
|
|
|
We live in a declining culture. When a culture is in the ascent people are rational and cooperative because all the people who weren't fucking died along the way. Past the peak, which I estimate to have happened in the 80s, people who literally think like children become an ever-increasing majority and the few rational people left are out-grouped. And then a lot of people die and the cycle resets.
So rational people find scapegoats to blame many of the ills of society, and think that somehow banishing the scapegoats is going to bring us to some kind of resolution? Okey dokey, we'll roll with that. Newsflash: even if the scapegoated group actually does cause many of the ills, and they are effectively "neutralized", some other group will come along and fill in the gap. |
|
|
|
Good intentions, but what is the role of LightningASIC in this? Are you going to tell me Bitcoin Gold is purely altruistic?
OIC, thanks for putting the spotlight on this. I'm starting to get a little deja vu. (GAW and Paycoin.) Will see how this scheme plays out. I'm also a little leery that the mechanism to claim your BTG may involve compromising your private keys and having to sweep your coins to new addresses to be safe. Naturally, this process will involve transaction fees, so the coins really won't end up being "free." At least they ditched the ICO aspect, for now. A 100,000 coin premine is a bit concerning. If this coin goes to 0.1 BTC, that's 10000 BTC. That's almost 60 million USD. Not exactly the biggest booty ever, but not chump change either. |
|
|
|
So let's say somebody is getting 20% more hashing done than somebody else. Can't the other guy just use ASICBoost as well? It's not like anybody gives 2 f*cks in China about a USA patent... Or, if they want to "play by the book", they just buy 20% more miners. It's just not anything to get all worried about. And who is doing the hashing is not that big of a deal unless it's all one person. Jihan Wu runs a mining pool and doesn't own all of that hashpower anymore so than any other pool operator. And again, it would be completely against his self-interest to "rock the boat" and do a 51% attack on BTC or whatever. He just wants bigger blocks so miners can mine more transactions and make more money. Kore wants small blocks 4ever to force Lightning and their patented tech down everyones' throats. I don't want that crap and most people I respect agree with that viewpoint.
Currently, the mystery miners are mining well over 90% of the blocks for Bitcoin Cash. That's not a "big deal?"
I still don't see what there is to control, the blocksize? What would it mean if Jihan Wu completely controlled a coin (likely it would be a worthless coin)? Again, Kore is sabotaging the original plan to scale Bitcoin so they can run their lame scheme on top of Bitcoin (THAT would qualify as controlling Bitcoin to me...). This has been agonizing to watch, and it won't work. A potential $500 billion market cap is being hamstrung by just $75 million which was invested in Blockstream by Silbert and DCG. There is so much pressure building for greater capacity and speed, and Kore just sits there with their thumbs up their asses saying "no" to everyone, like big babies!
Large blocks are not a problem like Kore screamed relentlessly they would be, and fees are 4000x lower on BCH. High fees and a bloated mempool ARE problems on BTC that have real and grave consequences for BTC, that have drastically reduced BTC's crypto market share AND the BTC adoption rate. These are just facts, yet the Kore fanbois (not saying you are one) just keep burying their heads under some more sand every time they are asked to address it.
Thanks for not running a RasPi. Sure, there are circumstances when you might need to rent a $10/mo VPS to get good performance syncing several 8-32MB blockchains. Big deal. And all of the hand-wringing about "ehrmagerd, blockchain will be 5000 Terabytes in 10 years" - get over it. Prune your blockchain, buy a bigger hard drive, or use an SPV wallet. Yes, it's annoying to have a huge blockchain but the problem can easily be solved in the next 10 years before anyone is adversely impacted.
Tek, good to see you back. You came in right on time to scream about the big blocks.
First of all, your puny 8-32MB blocks don't even come close to scaling to PayPal or Visa. (An off chain solution like lightning network probably would, however.) You need close to 1 GB blocks to even start to compare. Let's say you want to start up a block explorer or other information service. I doubt a $10/mo VPS is going to be enough to run a decent block explorer. Pruning the blockchain or running an SPV is fine, for personal use. However, if I want to contribute more by providing some kind of service, the start up cost is going to be huge. How are we supposed to have a decentralized economy when entry to even provide a block explorer will be prohibitive? Only mega whale oligarchs will have the means to provide us with the information services. What could go wrong? Also, this argument that we will have technology necessary in 10 or 20 years really doesn't fly. Do we want Bitcoin to scale on the level of Visa and Paypal in a couple of years or do we want to wait a decade or more? Since technology is advancing, the systems Visa and Paypal will use will probably make them be able to scale even better. Your on-chain solution will be forever playing catch up and will never compete. |
|
|
|
Man, what a mess these Bitcoin forks are. If you're going up against the number 1 coin at least put some effort in it.
Actually, this coin is going up against Bitmain and Bitfury. I doubt that Nvidia or AMD are going to set up huge GPU mining farms in strategic locations. It will be nice to have the manufactures of the mining equipment be distinct from the largest mining farms. Even if this particular project fails, perhaps it will help show a way we can implement this on the BTC chain. I have been thinking of replacing my 5 year old computer with a nice gaming computer, one with a GTX 1080. However, I can't bring myself to spend the $$$. (The 5 year old computer is still quite functional, and I am not a gamer. Not sure it is worth it just so I can mine from time to time. Especially since the GTX 1080 will probably be an obsolete GPU in less than a year.) |
|
|
|
Will Trezor wallet provide access to btcgold after fork?
SatoshiLabs probably has to wait and see the final code for Bitcoin Gold before committing to supporting this or not. |
|
|
|
I didn't mind selling a little bit at 61xx USD and buying it back at 59xx USD. Can we have this happen multiple times over the next few days? It's a question: How do you determine when it is wise to sell, in order to by the dip? All indicators for BTC being in overbought territory don't look reliable to me. I don't do anything. Just get lucky sometimes playing ping pong. Notice the operative clause "little bit." If the market never comes back down, I just settle for the fiat. |
|
|
|
what's going on, who of you cashed out sold at the bottom?  ftfy I didn't mind selling a little bit at 61xx USD and buying it back at 59xx USD. Can we have this happen multiple times over the next few days? |
|
|
|
I don't disagree with your conclusion but your logic seems to be marred by regurgitation of talking points.
ASICBoost is a non-issue and really doesn't increase hashing that much in the current environment. Furthermore, ASICBoost was patented by a KORE DEVELOPER. Nobody was screaming bloody murder about it when Lerner filed for the AB patent or when he licensed it to Bitmain. Doesn't that make you wonder why they got everybody worked into a frenzy about AB just when they needed Segwit to get rammed thru?
What do you mean ASICboost doesn't increase the hashing rate in the current environment? If you mean the other chain, then that is true. If you mean the Bitcoin Cash Chain, are you stating the 20% increase in hash rate is vastly overstated? Also if you think for more than one second, Ver and Jihan are pumping hundred of millions into BTC, and probably much less into BCH. Jihan runs the largest BTC mining hardware manufacturer, why wouldn't he be pro-BTC? He likely has millions of his own fortune intrinsically tied up with BTC's fate. Ver was known as "Bitcoin Jesus" for giving away what is now millions of dollars worth of BTC. I think it's safe to say he is pro-BTC. The only thing they don't like is the Kore team and how they are deliberately crippling BTC with 1MB blocks, Segwit, and RBF, to provide an excuse for Lightning to save the day. Which you should know is such a stupid plan, if you've read any current research on the subject.
Ver probably has the best of intentions. However, Jihan's motivation is to have as much control as possible; not only with the mining aspect but with the direction of future development as well. If he can basically get KORE fired, I'm sure he'd be more than willing to fill the gap. How perfect for him to be able to totally control the destiny of BTC. In the mean time, if he can't accomplish his desire for absolute power on the BTC chain, he has Bitcoin Cash that he can totally control. Large blocks are not a problem like Kore screamed relentlessly they would be, and fees are 4000x lower on BCH. High fees and a bloated mempool ARE problems on BTC that have real and grave consequences for BTC, that have drastically reduced BTC's crypto market share AND the BTC adoption rate. These are just facts, yet the Kore fanbois (not saying you are one) just keep burying their heads under some more sand every time they are asked to address it.
I happen to know from experience that large blocks can be a problem for casual users. I happen to own a shitcoin that made the mistake of having 30 second blocks. My computer has a hard time keeping up with these blocks because it needs to spend time downloading the new blocks and verifying them. Since most of the blocks on this chain are empty, I can't imagine how difficult it would be for my computer to keep up with blocks that are near capacity. In order for a coin to scale properly on-chain with 10 minute blocks so that it can realistically compete with Visa, you would probably need 1GB blocks. This definitely would exclude a casual user from realistically running a node. It would also make entry for any startups who need to run a node, like a new exchange, more difficult. PS: I am not running a Raspberry PI. |
|
|
|
So anyone wanna bet next week it'll be a fresh new China ban, or some Jamie Dimon bullshit, or some other crap?
You know they just can't let this run for long without something something FUD something.
Well, you can't really expect to have a bull market without some bullshit once in a while. Just a little dump and them back to moonshot. |
|
|
|
|
Show Posts
