Anyone else thinking that we will see some serious price action on the exchanges within 48 hours?
It has been quiet for too long...
i'd like to think so but can't see it happening. There seems to be some powerful, organised resistance that caps all rallies off to $5-10, then coordinated dumps to extinguish any momo. Net effect a huge lid on any action. |
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If we took the currency issue out of this conflict, it would look something like this:
Chipherpunk A builds a permanent immutable database and wants to charge people to write to it because he doesn't want it to fill up with crap.
Cipherpunk B builds a permanent immutable database and he lets anybody write anything to it because that's what free speech really is.
Smallblockers are the censors who see themselves as the guardians of free speech. They want to guard free speech with censorship. If you elect yourself the arbiter of what is and is not spam, you are practicing censorship. If you charge people for writing on a public wall you are a censor.
I think smallblockers see themselves more as publishers, people who have not only the right but the responsibility to ensure only quality things get printed, given the real cost of printing. This would be true if Bitcoin was a private good, but it is not. It is a public good, in the economic sense.
Smallblockers are just another form of censorship for crypto to overcome, either by routing around Core or routing around Bitcoin.
tl;dr govvy troll muddies the waters by mixing up "free as in beer" and "free as in freedom" into a witches brew of psy-op misinformation |
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I never understood why anyone would need censorship resistant monies to purchase a beverage anyway.
Hmm... well there are some circumstances where a sovereign digital currency can be helpful like when a person has all their bank accounts frozen or shutdown due to a lawsuit , bank mistake , asset forfeiture, or operation chokepoint and they want to make an internet purchase or tip someone remotely where cash cannot be used. Bitcoin also poses as a backstop to eliminate the effectiveness of banning physical fiat cash as there has been some recent discussions of banning the 100 dollar bill. But I understand your central point , and agree, bitcoins primary purpose is to serve the underserved markets and act as regulatory arbitrage. I am proud it is useful on the blackmarkets and deepweb for many purchases. Canada stopped printing the 1000 dollar bill a while back for the same reason. The thing was pink. Anyhoo. Donald Trump wants to bring back $500 and $1000 notes I heard!! |
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some big-blockhead takes a dump in the mempool for the lulz and the chatterati chimps go nutz, so predictable ... these tests are ultimately useful and highly illustrative for bitcoin at this stage of development ... people should be able to clearly envisage now what types of business models make long term sense and those that definitely do not. |
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Wealth is not linearly distributed but closer to logarithmic with a vast majority of wealth concentrated in a few hands (currently even dangerously so for civic stability considerations), the mainstream is not where wealth is concentrated so for a monetary adoption targeting the mainstream is a losing proposition.
Bitcoin doesn't necessarily need more transactions as much as higher value transactions, the value of a monetary network is not simply the number of connections but the total value of connections, i.e., number * value.
wait so bitcoin does not need more people, just more money? but what about africa? Think of it like high-grading that the gold miners do when prices get low. The lower value ore (spam) will be thrown out and the higher value transactions will get preferentially selected. As higher and higher net worth users get selected by the fee market to use the planet's premier secure monetary system the value of the token to use that system will increase. Lower value users will still get to use lower value security systems that aggregate their lower value transactions and anchor them the blockchain (like first, business and economy classes in a crowded aircraft) im just messing around man, 100% agree. i know  we could play this faux troll-tennis all day, it's good to get a friendly foil lobbin' up the worst gimme arguments from the blockheads for smashing away |
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Wealth is not linearly distributed but closer to logarithmic with a vast majority of wealth concentrated in a few hands (currently even dangerously so for civic stability considerations), the mainstream is not where wealth is concentrated so for a monetary adoption targeting the mainstream is a losing proposition.
Bitcoin doesn't necessarily need more transactions as much as higher value transactions, the value of a monetary network is not simply the number of connections but the total value of connections, i.e., number * value.
Because what the super-rich really crave is a dysfunctional p2p network at war with itself. They're just waiting for *all* the mining to become centralized in Communist China, and then there'll be no stopping those Wall St. institutional investors. It'll be bigger then Gemini! We are at least 3-4 orders of magnitude in value growth away from the 'super-rich' being able to adopt bitcoin and 2-3 orders in magnitude from Wall St. 'insitutionals' being able to adopt/use. The p2p network and surrounding infrastructure (and troll-box 'communities' like this thread) will all look very different when those times comes around, troll/shills like yourself will probably have moved on maybe being paid to pump bitcoin by then. |
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Wealth is not linearly distributed but closer to logarithmic with a vast majority of wealth concentrated in a few hands (currently even dangerously so for civic stability considerations), the mainstream is not where wealth is concentrated so for a monetary adoption targeting the mainstream is a losing proposition.
Bitcoin doesn't necessarily need more transactions as much as higher value transactions, the value of a monetary network is not simply the number of connections but the total value of connections, i.e., number * value.
wait so bitcoin does not need more people, just more money? but what about africa? Think of it like high-grading that the gold miners do when prices get low. The lower value ore (spam) will be thrown out and the higher value transactions will get preferentially selected. As higher and higher net worth users get selected by the fee market to use the planet's premier secure monetary system the value of the token to use that system will increase. Lower value users will still get to use lower value security systems that aggregate their lower value transactions and anchor them in the blockchain (like first, business and economy classes in a crowded aircraft) |
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Wealth is not linearly distributed but closer to logarithmic with a vast majority of wealth concentrated in a few hands (currently even dangerously so for civic stability considerations), the mainstream is not where wealth is concentrated so for a monetary adoption targeting the mainstream is a losing proposition.
Bitcoin doesn't necessarily need more transactions as much as higher value transactions, the value of a monetary network is not simply the number of connections but the total value of connections, i.e., number * value.
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look at the blocks, all spam.
no-one uses the bitcoin blockchain anymore, it got too crowded. |
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So what is the solution to this problem? Proof of stake is the solution because it remove the physical element and allows network voting power to move seamlessly accross borders. Traditional Proof of Stake contains some flaws like the Nothing at Stake problem. But the new algorithm designed for proof of stake in Ethereum solved all these issues. PoS is a pipedream that's been sold as security solution. Can't wait until ethereum converts to PoS and we all get to see what a spectacular crypto-crash looks like when the flaw is discovered. |
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You're all still missing the point, wealth is NOT mainstream. In fact, the middle class ('mainstream') has gotten less and less wealthy relatively speaking in recent decades.
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A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. i'm fighting fire with fire now.
you are going to start throwing jalapenos instead of tomatoes? |
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A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. if you small blocker truly believe the shit you say you should from a group that wishes to lower block limit to 0.5MB.
you'll get more decentralization and security, for everything else there's the Lighting Network promiseland.
I know that you know that most people want bigger blocks - sooner or later. Why keep saying stuff like this? I blurt shit out when i'm stressed and angry. people are angry because they are coming to the realisation that we are all small blockers now first it was wtf 20MB is fine!, then ok mebbe 8MB is coolest ... now it is 'pretty please can we haz 2MB?' ... the big blockers stuffed up when they didn't show support for BIP 103 (20% increase per annum starting in Jan 16), now they have created enough noise and contention that 2MB is a 'big deal'. |
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A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. I need ideas
what kind of indicators would be useful to you for bitcoin trading from the shill drama?
shill post vs total posts on the board?
doing a kind of shill posting analyzing tool
yes, please start doing something like this ... i use anecdotals already and pretty sure that shill posting is timed with manipulative market dumps, perhpas pumps also. |
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A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. Why would a governance change be appropriate?
Loss of market share? check.
Loss of six year logarithmic uptrend in price? Check
Gridlock in decision-making? check.
Loss of essential properties such as decentralization, anonymity, sufficient capacity and censorship resistance? check
What more do we fucking need? How is it not obvious that this is a full-on, five alarm clusterfuck?
so it was always about governance? you big blocker shills have been led on a merry dance of lies, useful idiots in a coup attempt, just admit it. |
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A reply of yours, quoted below, was deleted by the starter of a self-moderated topic. There are no rules of self-moderation, so this deletion cannot be appealed. Do not continue posting in this topic if the topic-starter has requested that you leave. You can create a new topic if you are unsatisfied with this one. If the topic-starter is scamming, post about it in Scam Accusations. Why would a governance change be appropriate?
Loss of market share? check.
Loss of six year logarithmic uptrend in price? Check
Gridlock in decision-making? check.
Loss of essential properties such as decentralization, anonymity, sufficient capacity and censorship resistance? check
What more do we fucking need? How is it not obvious that this is a full-on, five alarm clusterfuck?
so it was always about governance? you big blocker shills have been led on a merry dance of lies, useful idiots in a coup attempt, just admit it. Does that mean you don't think it's a clusterfuck or that you do but don't care? bitcoin is unaware of your socialist clusterfecks and human induced conflicts ... in the last 24 hours it processed 215k TX worth $1.2 billion in the most borderless, censorship-resistant, cheapest and secure method on the planet. |
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It seems to be much better for bitcoin to grow slowly and also much better not to be too rash in attempts to change governance...
I'm curious how bad/urgent a problem would have to be before you thought a change in governance was appropriate. Maybe to the extent to which governance is broken, is a problem that has recently been attempted to be created. Maybe yes, maybe no. It is certainly possible that the governance issue is being used as a vehicle to promote some other political agenda. The way to find out is the separate the issue from others and see whether a change in governance, by itself, and without the baggage of simultaneously proposing immediate changes to the software or chain rules, has any support. Call for a vote of no confidence in Wladimir? I'm down. There is no way to hold such a vote because the existing project organization has no governance rules that would allow it. To change the governance procedure, you have to fork the project and propose a new organization with different governance rules ( and get support otherwise you are forking nothing but your own mind), but that doesn't mean you have to fork the chain. how can blockstream fail? the game is rigged. lol such a whiner when it comes down to it ... you can't handle the truth ... "the game is rigged, please make them stop wah, wah" ... wait i need to delete some more truthiness before I look too stoopid. it is really offensive to all the Core devs who have built this thing for free mostly (what did you do exactly?!) that you think blockstream can dictate. you crassic lusers are such whiner lusers ... maybe time to just piss off and join Hearn if you don't like the rules or haven't got anything better to add?? |
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